{"id":611667,"date":"2023-12-11T00:00:00","date_gmt":"2023-12-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=611667"},"modified":"2025-12-17T02:34:34","modified_gmt":"2025-12-17T02:34:34","slug":"inflation-hits-six-month-low-in-november","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/inflation-hits-six-month-low-in-november\/","title":{"rendered":"Inflation hits six-month low in November"},"content":{"rendered":"<section id=\"611669\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"611669\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">What We're Tracking Today<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/election-2023-day-2\/\">\r\n                            It\u2019s the second day of the 2023 presidential election                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/election-2023-day-2\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                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data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/708.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611669\" class=\"content-area-description single-story post-611669 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-election-2023 tag-enterpriseam tag-politics tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.9b9e57a1-b6ce-4724-80fa-0f021f800419.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Morning all:<\/strong> We have a brisk issue for you this morning, with not a lot happening on the local business front as we inch towards the end of 2023.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING TODAY-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- It\u2019s day two of presidential elections<\/strong><strong>:<\/strong>Voters nationwide are casting their ballots for one of four presidential hopefuls: incumbent <strong>President Abdel Fattah El Sisi<\/strong>, Al Wafd Party\u2019s <strong>Abdel Sanad Yamama<\/strong>, the Egyptian Social Democratic Party\u2019s <strong>Farid Zahran<\/strong>, and the Republican People Party\u2019s <strong>Hazem Omar<\/strong>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the ground:<\/strong> There was a strong turnout at yesterday\u2019s opening of the polls, National Elections Authority Executive Director Ahmed Bendari <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/5xm5yw7z\" style=\"\" rel=\"noopener\">told the press<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to get out and vote?<\/strong> Find your nearest polling station by entering your national ID number on the <a target=\"_blank\" href=\"https:\/\/www.elections.eg\/\" style=\"\" rel=\"noopener\">National Elections Authority website<\/a>. You can also <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yc465fay\" style=\"\" rel=\"noopener\">text your national ID number<\/a><a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yc465fay\" style=\"\" rel=\"noopener\">to 5151<\/a> or call the same number to find your polling station and receive your voting number. <strong>Voting is open from 9am through 9pm, today and tomorrow.<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> Results of the vote are scheduled to be announced on 18 December. A runoff, if necessary, will take place in early January 2024.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a><strong> #2- It\u2019s the next-to-last (regularly scheduled) day of COP28 in Dubai <\/strong>\u2014 but there are signs the gathering may need to go into overtime to hammer out a final agreement. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What gives? Two things. First: <\/strong>Saudi Arabia and other hydrocarbon producers are digging in their heels, refusing to accept text that speaks to a <strong>phase-out of oil and gas<\/strong>. On the other side of the ring, International Energy Agency (IEA) chief Fatih Birol is demanding delegates reach a consensus on an \u201corderly and just decline in fossil fuels in line with our international climate goals\u201d before the summit wraps up,\u201d he told the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/08e08334-f637-4a4f-8374-3f6c24ba7dd2\" style=\"\" rel=\"noopener\">Financial Times<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Second: <\/strong>And some developing countries think text on <strong>funding for climate adaptation<\/strong> is \u201cweak.\u201d The UN Environment Program has already identified an adaptation funding gap of around <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/environment\/2023\/nov\/02\/action-to-protect-against-climate-crisis-woefully-inadequate-un-warns\" style=\"\" rel=\"noopener\">USD 387 bn<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Need more on COP? <\/strong><a target=\"_blank\" href=\"http:\/\/climate.enterprise.news\/\" style=\"\" rel=\"noopener\">Enterprise Climate<\/a> has the rundown.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Trade run to KSA:<\/strong> The Engineering Export Council of Egypt is almost half-way through a weeklong <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/bp5kvhfj\" style=\"\" rel=\"noopener\">trade mission<\/a> to Saudi Arabia, the largest importer for our engineering sector. The delegation is gunning for more orders and investments from the kingdom for pumps, car parts, boilers, and everything in between. The visit wraps up on Friday. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/707.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING THIS WEEK- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#1- A new round of GERD talks:<\/strong> Egypt, Ethiopia, and Sudan are set to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/54befe91-5ef8-48b6-9d14-c3fe0d4a1389\" style=\"\" rel=\"noopener\">resume<\/a> talks over the filling and operation of the Grand Ethiopian Renaissance Dam (GERD) on 16-18 December in Addis Ababa. This will be the fourth round of talks since President Abdel Fattah El Sisi and Ethiopian Prime Minister Abiy Ahmed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a70fe3ef-254a-41e4-8335-5db25860d457\" style=\"\" rel=\"noopener\">agreed to re-enter negotiations<\/a> in July and reach an agreement within four months.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a><strong> #2- It\u2019s interest-rate week in (many) western economies: <\/strong>The US Federal Reserve, European Central Bank and the Bank of England will hold their final policy meetings of the year this week amid growing pressure to pivot to rate cuts next year, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-09\/fed-ecb-boe-latest-global-rate-cut-standoff-looms-in-2023-policy-finale?srnd=premium\" style=\"\" rel=\"noopener\">Bloomberg<\/a> notes. None are expected to move rates higher this week with inflation steadily easing and attention shifting to slowing economic growth. Fed boss Jay Powell, in particular, is under pressure to clarify whether the Fed is going to start slashing borrowing costs next year. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/9900245c-de10-4d6d-a5be-d83fdf55c18d\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com.\/economy\/central-banking\/federal-reserve-cutting-interest-rates-when-4a910883\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Closer to home: The Central Bank of Egypt<\/strong> will hold its final policy meeting of the year next Thursday, 21 December.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#3- Napkins on:<\/strong><strong><a target=\"_blank\" href=\"https:\/\/foodafrica-expo.com\" style=\"\" rel=\"noopener\">Food Africa Expo<\/a><\/strong><strong>kicks off tomorrow<\/strong>at the Egypt International Exhibition Center. The three-day trade show aims to connect wholesalers, distributors, and retailers in food and beverage industries across Africa and the Middle East.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORIES ABROAD-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No one story is dominating the news this morning:<\/strong><\/p><ul>\n<li><strong>Israel\u2019s war on Gaza continues to make the front pages<\/strong>, with US media covering Israel\u2019s assault on Khan Younis, Washington\u2019s response to Houthi attacks in the Red Sea, and the latest on the antisemitism outcry in US universities. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/palestinians-report-israeli-battles-khan-younis-after-us-blocks-gaza-ceasefire-2023-12-10\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/12\/10\/us\/harvard-president-claudine-gay.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/national-security\/2023\/12\/10\/houthi-attacks-naval-task-force\/\" style=\"\" rel=\"noopener\">Washington Post<\/a>)<\/li>\n<li><strong>Biden\u2019s foreign policy is hurting his election chances:<\/strong> Almost half of American voters believe that Biden is spending too much on Ukraine aid, and his support for Israel is alienating at least a third of democratic voters. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6e10d54c-9cee-4361-b85b-0bf57e80f16c\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-10\/biden-s-support-of-israel-alienates-more-democrats-in-new-poll?srnd=premium\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/li>\n<li><strong>The Donald won\u2019t testify again in New York fraud trial: <\/strong>Former US President Donald Trump said that he won\u2019t testify in a New York courtroom this week, where he was expected to make the case that his company didn\u2019t misrepresent the value of its properties to receive favorable financing. (<a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/trump-new-york-civil-fraud-lawsuit-testify-5710001a228dc333a88e61b18abcfd44\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/former-president-donald-trump-says-he-will-not-testify-new-york-fraud-trial-2023-12-10\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SIGN OF THE TIMES-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The world\u2019s 25 richest families have gotten USD 1.5 tn richer over the last year<\/strong> \u2014 equivalent to a 43% annual increase \u2014 according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/features\/2023-worlds-richest-families\/?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg\u2019s<\/a> yearly ranking of family fortunes. The Nahyans of Abu Dhabi, despite being new entrants to Bloomberg\u2019s ranking, topped the list with a whopping USD 305 bn fortune \u2014 USD 45 bn more than the second-placed Walton family.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n  <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>\n <\/p><\/div>\n<\/div>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HELP GAZA-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to support relief efforts in Gaza, but don\u2019t know how?<\/strong> We\u2019ve got you. More than 1 mn people in Gaza have been thrown from their homes and every human being there lacks access to food, water, and fuel amid the most intense bombardment any population has endured this century.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The folks at Talabat are processing donations for a range of Gaza relief appeals <\/strong>by charities including the Egyptian Food Bank and Misr El Kheir. Pay in EGP using your credit card.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Or check out <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/f8ce0f50-10c2-4cca-8e6f-64c32a5c90b7\" style=\"\" rel=\"noopener\">our list of charities<\/a><\/strong><strong> to which you can make direct donations<\/strong> via bank deposit and \/ or Fawry.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> 290 bn cubic feet per day:<\/strong> The amount of gas Egypt expects to import from Israel this year. That\u2019s <strong>38% higher<\/strong> than 2022 volumes. (<a target=\"_blank\" href=\"https:\/\/tinyurl.com\/4rx7thhw\" style=\"\" rel=\"noopener\">Asharq Business<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Missed this week\u2019s Inside Industry? <\/strong>We have our Manufacturer of the Month column, whereinwe profile an industrial player with a manufacturing base here in Egypt. Manufacturer of the month is dedicated to looking at locally bred or international players to examine the success and challenges that came with being a manufacturer in Egypt, as well as their paths forward. Today, we speak to plastic product manufacturer El Khanagry Plastics. Read it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/10545860-e8cd-4c9c-8d24-62d919905bcf\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>COME WORK FOR OUR ADVISORY ARM- <\/strong>Enterprise Advisory (formerly known as Inktank Communications) is looking for smart, talented people to help us tell the stories of exciting companies. Enterprise Advisory is the region\u2019s leading investor relations advisory company and works on investor and strategic communications issues that take you deep inside the c-suite. Our clients are in Egypt, Saudi Arabia, the UAE, and beyond. Egyptian and foreign nationals alike are welcome to apply, but native-level verbal and written English fluency is a must.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WHO YOU ARE-<\/strong> We're looking for gifted storytellers with a minimum of four years of work experience in investor relations, finance, banking, economics, or a related field to develop cutting-edge products and maintain relationships with a portfolio of clients. Candidates should have a bachelor's degree or higher in finance, accounting, economics, business administration, or a related discipline. We're looking for someone whose passion for storytelling is matched with strong analytical and problem-solving skills, as well as the ability to interpret and present financial data \u2014 with a keen eye for details and accuracy. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>INTERESTED IN APPLYING?<\/strong> To apply for the position, drop us a line at jobs@enterprisemea.com and mention \u201cEnterprise Advisory\u201d in your subject line. Please send a solid cover letter telling us a bit about who you are and why you\u2019re a good fit for our team. We want to see your CV, but the most important thing is a cover letter that makes us want to pick up the phone and give you a call.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2022\/10\/CIRA-Blackboard-Banner-B-1600.jpg\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue:<\/strong> We take a deep dive into what Egypt\u2019s corporate L&amp;D looks like amid economic headwinds and the growing importance of tech.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/election-2023\/\">Election 2023<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"611671 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"611671\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/611671\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611671\" class=\"content-area-description single-story post-611671 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/577.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">DISCOVER SOMABAY: <\/span><span style=\"font-weight:400;\">Embark on a journey of discovery in the heart of Somabay, where crystal-clear waters meet golden sands and luxury meets serenity. Experience a world of adventure, relaxation, and natural beauty like no other. From thrilling water sports to world-class golf, Somabay offers it all. Explore vibrant coral reefs, unwind in luxurious spas and savor exquisite cuisine. Your dream destination awaits, where every moment is a discovery.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"611672\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"611672\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/inflation-has-hit-six-month-low-heres-what-to-watch-for-next\/\">\r\n                            Egypt inflation hits six-month low                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/inflation-has-hit-six-month-low-heres-what-to-watch-for-next\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Figures published yesterday by state statistics agency Capmas showed that inflation in urban areas slowed to 34.6% y-o-y during the month from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c463d2d9-390f-4e0c-b240-5dbf10bf591a\" style=\"\" rel=\"noopener\">35.8% in October<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But pressures persist: <\/strong>Monthly inflation accelerated to 1.3% in November from 1% the month before. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Core inflation fell significantly:<\/strong> Core inflation \u2014 which excludes volatile items such as food and fuel \u2014 fell to 35.9% y-o-y in November from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/96fa23c1-703e-4dd2-afd1-88033b246729\" style=\"\" rel=\"noopener\">38.1%<\/a> the month prior, according to <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/news-publications\/news\/2023\/12\/10\/13\/42\/cpi-press-release-november-2023\" style=\"\" rel=\"noopener\">central bank figures<\/a>. Meanwhile, monthly core inflation fell to 1% from 1.8%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DRIVING THE TREND- Once again, you can thank f<\/strong><strong>ood<\/strong><strong> prices:<\/strong> Food and beverage price growth \u2014 the largest component of the basket of goods and services used to calculate inflation \u2014 slowed to 64.5% y-o-y from 71.3% in October.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A favorable base effect is also at work:<\/strong> The rapid rise in inflation at the end of 2022 and firsthalf of 2023 should help temper the annual figures over the coming months (all else being equal). The key question: Whether this outweighs the inflationary impact if the EGP loses further ground against the greenback should we move to a floating FX regime after the presidential elections.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This was better than what analysts had predicted:<\/strong> Analysts polled by Reuters had forecast core inflation to slow to <a target=\"_blank\" href=\"https:\/\/www.nasdaq.com\/articles\/poll-egypt-inflation-seen-slowing-in-november\" style=\"\" rel=\"noopener\">37.2%<\/a> and the headline rate to decelerate to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egypts-headline-inflation-dips-346-november-2023-12-10\/\" style=\"\" rel=\"noopener\">34.8%<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG PICTURE- Inflation has hit <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d1c1b9b4-919d-41f5-a4f3-85357bcc52ad\" style=\"\" rel=\"noopener\">record highs<\/a><\/strong><strong> this year<\/strong> on the back of a series of currency devaluations and supply shortages caused by the shortage of foreign currency.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Slowing prices are yet to soothe the private sector:<\/strong> PMI data last week showed that business confidence <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/875fb710-43e4-4bd4-809a-6297270f25bf\" style=\"\" rel=\"noopener\">fell to record lows<\/a> in November on the back of continued inflationary pressures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A long way to target:<\/strong> The central bank wants to bring inflation back down to 7% (\u00b12%) by 4Q 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WHAT\u2019S NEXT- All eyes on the EGP. <\/strong>Where inflation goes from here will depend on when Hassan Abdalla\u2019s CBE floats the EGP \u2014 and how the EGP fares against the greenback when it does. A float is widely expected at some point after the presidential election as authorities look to comply with the terms of the USD 3 bn IMF loan and release almost USD 700 mn in vital financing \u2014 and potentially a commitment to even more funding. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What to watch for: <\/strong>The market has already priced-in the USD at around EGP 50. Does it settle there? What\u2019s the market-clearing rate that will prompt folks hoarding USD (or holding back from pulling the trigger on investments) to transact?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We could know more as soon as next week:<\/strong> The Central Bank of Egypt will hold its final policy meeting of the year on 21 December. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a19a6a8-e2b9-4824-b891-129abf0dc6c0\" style=\"\" rel=\"noopener\">Some have speculated<\/a> that policymakers could look to raise interest rates, but we think it more likely that the Monetary Policy Committee will act on rates only in tandem with a move to a floating currency regime. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FYI- The international press had the story: <\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-10\/egypt-inflation-slows-offering-sisi-boost-as-voters-head-to-polls\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egypts-headline-inflation-dips-346-november-2023-12-10\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capmas\/\">CAPMAS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food-prices\/\">food prices<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"611674\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"611674\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Tax<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/charge-in-fx-pay-vat-in-fx-no-exceptions\/\">\r\n                            FinMin scraps rule allowing businesses to pay VAT on FX sales in local currency                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/charge-in-fx-pay-vat-in-fx-no-exceptions\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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No exceptions.&url=https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/charge-in-fx-pay-vat-in-fx-no-exceptions\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/charge-in-fx-pay-vat-in-fx-no-exceptions\/&title=Charge in FX, pay VAT in FX. No exceptions.\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Charge+in+FX%2C+pay+VAT+in+FX.+No+exceptions.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F11%2Fcharge-in-fx-pay-vat-in-fx-no-exceptions%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/charge-in-fx-pay-vat-in-fx-no-exceptions\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/664.JPG?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"611675\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/charge-in-fx-pay-vat-in-fx-no-exceptions\/664-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/664.JPG?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"664.JPG\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/664.JPG?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/664.JPG?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611674\" class=\"content-area-description single-story post-611674 post type-post status-publish format-standard has-post-thumbnail hentry category-tax tag-enterpriseam tag-foreign-exchange tag-regulation tag-regulation-watch tag-tax tag-vat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.3d487bff-8a3e-4440-aef7-9ae251df56d5.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Do business in FX? You won\u2019t be able to settle your VAT dues in EGP afte<\/strong><strong>r all:<\/strong>All businesses pricing goods and services in foreign currency will now have to settle their VAT dues in FX after the Finance Ministry scrapped a rule that would have allowed them to pay in EGP, according to a ministry document seen by Enterprise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The background: <\/strong><\/p>\n<ul>\n<li><strong>The rules: <\/strong>The ministry last month <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dee2969e-7333-487b-b76d-23b9278a3688\" style=\"\" rel=\"noopener\">began requiring<\/a> companies and sole traders doing business in FX to pay VAT in hard currency.<\/li>\n<li><strong>There was a degree of flexibility:<\/strong> Under the rules, the ministry said it would allow businesses to pay in EGP provided they had evidence that they had exchanged an equivalent amount of FX.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That flexibility is now gone:<\/strong> The ministry will no longer allow businesses to pay in EGP because there was no sure-fire way to verify whether they had actually exchanged hard currency, an official at the Finance Ministry told Enterprise. There was also no established set of rules to punish those that failed to follow the procedures, they said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We should know more soon: <\/strong>The new rule will be published soon in the Official Gazette, and the ministry will issue detailed directives listing sectors that are required to pay their VAT dues in FX, a second ministry source told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know so far<\/strong> \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea43e533-4bab-49ab-b7f6-6e850ef08ea7\" style=\"\" rel=\"noopener\">from the Finance Ministry<\/a>:<\/p>\n<ul>\n<li>Importers are exempt;<\/li>\n<li>VAT will only be collected in FX from companies that are licensed to transact in foreign currency, like tourism companies.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation\/\">regulation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation-watch\/\">regulation watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vat\/\">VAT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"611676\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"611676\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/national-investment-bank-wants-to-sell-down-stake-in-misr-cement-qena\/\">\r\n                            National Investment Bank wants to sell down stake in Misr Cement Qena                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/national-investment-bank-wants-to-sell-down-stake-in-misr-cement-qena\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" 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href=\"https:\/\/api.whatsapp.com\/send?text=National+Investment+Bank+wants+to+sell+down+stake+in+Misr+Cement+Qena+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F11%2Fnational-investment-bank-wants-to-sell-down-stake-in-misr-cement-qena%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/national-investment-bank-wants-to-sell-down-stake-in-misr-cement-qena\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/702.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"611677\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/national-investment-bank-wants-to-sell-down-stake-in-misr-cement-qena\/702-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/702.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"702.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/702.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/702.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611676\" class=\"content-area-description single-story post-611676 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch tag-enterpriseam tag-industry tag-ma-watch tag-misr-cement-qena tag-national-investment-bank tag-privatization-watch tag-sovereign-fund-of-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.8f10265f-7f04-4186-86eb-6151385312ff.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> State-owned <\/strong><strong>National Investment Bank (NIB) <\/strong><strong>wants to sell its <\/strong><strong>10%<\/strong><strong> stake in the EGX-listed <\/strong><strong>cement producer Misr Cement Qena<\/strong> to a private-sector investor, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/12\/09\/%d8%a7%d9%84%d8%a7%d8%b3%d8%aa%d8%ab%d9%85%d8%a7%d8%b1-%d8%a7%d9%84%d9%82%d9%88%d9%85%d9%89-%d9%8a%d8%b9%d8%aa%d8%b2%d9%85-%d8%a7%d9%84%d8%aa%d8%ae%d8%a7%d8%b1%d8%ac-%d9%85%d9%86-%d9%85\/\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reported Saturday, citing anonymous sources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> The bank\u2019s investment bank arm, NI Capital, will launch a tender to choose an advisor for the sale, according to Al Borsa.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Misr Cement denies knowledge:<\/strong> The company said it had no knowledge of the NIB\u2019s reported plans in <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/701.pdf\" style=\"\" rel=\"noopener\">a bourse disclosure (pdf)<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher:<\/strong> Planning Minister Hala El Said <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/43f14454-61c9-4f0d-8232-ab185c5771c6\" style=\"\" rel=\"noopener\">said last year<\/a> that up to USD 3 bn worth of assets owned by the NIB could be offered to investors by the Sovereign Fund of Egypt (SFE). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Which other NIB <\/strong><strong>assets <\/strong><strong>could be up for grabs?<\/strong> NIB and Banque Misr together own almost 75% of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f071b3e9-19b9-4bac-af3a-0f4c5cedd7b5\" style=\"\" rel=\"noopener\">state-owned real estate firm Midar<\/a>, which the SFE is reportedly preparing to list on the EGX in 1H 2024. NIB\u2019s stakes in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ace4d4a-08f1-4f2e-bc12-15379d392de7\" style=\"\" rel=\"noopener\">Al Ezz Dekheila<\/a>, Egyptian Media Production City and Misr Fertilizers Production Company (MOPCO) could also be in the cards.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-cement-qena\/\">Misr Cement Qena<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-investment-bank\/\">National Investment Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"611678\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"611678\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/un-arab-officials-say-israel-plans-to-force-palestinians-into-egypt\/\">\r\n                            UN, Arab officials say Israel plans to force Palestinians into Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu 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<\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/un-arab-officials-say-israel-plans-to-force-palestinians-into-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/704.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"611679\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/un-arab-officials-say-israel-plans-to-force-palestinians-into-egypt\/704-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/704.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"704.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/704.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/704.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611678\" class=\"content-area-description single-story post-611678 post type-post status-publish format-standard has-post-thumbnail hentry category-war-watch tag-diplomacy tag-egypt-israel-relations tag-enterpriseam tag-israel tag-israel-palestine-conflict tag-jordan tag-middle-east-politics tag-palestine tag-un tag-war-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.1357ea13-9e1b-490b-88d3-77f98025fc3c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>UN, Arab officials warn about forced displacement: <\/strong>As the Israeli military\u2019s assault on south Gaza pushes thousands of Palestinians closer to the Egyptian border, Arab and UN officials have voiced fears that the ultimate goal of its war is to displace the territory\u2019s population into Egypt. <\/p>\n<ul>\n<li><strong>UNRWA head:<\/strong> \u201cThe developments we are witnessing point to attempts to move Palestinians into Egypt,\u201d Philippe Lazzarini, the head of the UN agency for Palestinian refugees (UNRWA), writes in an op-ed in the <a target=\"_blank\" href=\"https:\/\/www.latimes.com\/opinion\/story\/2023-12-09\/israel-gaza-hamas-united-nations-humanitarian-relief\" style=\"\" rel=\"noopener\">LA Times<\/a>. \u201cIf this path continues, leading to what many are already calling a second Nakba, Gaza will not be a land for Palestinians anymore.\u201d<\/li>\n<li><strong>Jordan\u2019s foreign minister:<\/strong> Israel is embarking on a \u201csystematic effort to empty Gaza of its people,\u201d an act that falls within the \u201clegal definition of genocide,\u201d Jordan's Foreign Minister Ayman Safadi <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/jordan-says-israel-aims-expel-palestinians-gaza-2023-12-10\/\" style=\"\" rel=\"noopener\">said yesterday<\/a>.<\/li>\n<li><strong>UN Sec-Gen:<\/strong> The intolerable conditions in the enclave could \u201cincrease pressure for mass displacement into Egypt,\u201d UN Secretary-General Antonio Guterres <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/palestinians-report-israeli-battles-khan-younis-after-us-blocks-gaza-ceasefire-2023-12-10\/\" style=\"\" rel=\"noopener\">said<\/a>.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel denies: <\/strong>A spokesperson for the Israeli defense ministry <a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/live-news\/20231210-un-agency-chief-says-israel-trying-to-force-gazans-into-egypt\" style=\"\" rel=\"noopener\">denied<\/a> the suggestions, claiming that \u201cthere is not, never was, and never will be an Israeli plan to move the residents of Gaza to Egypt.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/38d297b9-3a78-46f6-ac65-465688169fb3\" style=\"\" rel=\"noopener\">Reports<\/a> published in the Israeli and Western press last month provided evidence of Israeli plans to resettle Gaza\u2019s population in the Sinai, and quoted sources suggesting that Israeli Prime Minister Benjamin Netanyahu had been lobbying European leaders to back the plan. Egypt has reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7a56dd0a-8a63-4aa2-8b0c-65935f7d8df6\" style=\"\" rel=\"noopener\">warned<\/a> Israel that any attempt to displace Palestinian refugees into Sinai could cause a \u201crupture\u201d in the two countries\u2019 relationship.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ON THE GROUND:<\/strong> 18k Palestinians <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MOHGaza1994\/posts\/pfbid0s2euD387VcQRnsvQ98eQut8p9yeYmWjkxoaiJybWTvsr317JP4f3nW4p7Vavtqbvl\" style=\"\" rel=\"noopener\">have been killed<\/a> in Gaza since 7 October | <a target=\"_blank\" href=\"https:\/\/www.unrwa.org\/newsroom\/official-statements\/gaza-strip-darkest-hour-humanitarian-situation-untenable%E2%80%AF\" style=\"\" rel=\"noopener\">130+ UN staff<\/a> killed | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/gaza-health-situation-is-catastrophic-who-chief-2023-12-10\/\" style=\"\" rel=\"noopener\">WHO chief<\/a>: Improving the current health situation in Gaza is \u201cimpossible.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel is threatening to take things regional:<\/strong><\/p>\n<ul>\n<li><strong>Netanyahu to Biden: If you don\u2019t hit the Houthis, we will: <\/strong>The Israeli PM <a target=\"_blank\" href=\"https:\/\/news.yahoo.com\/netanyahu-tells-biden-israel-act-204539293.html\" style=\"\" rel=\"noopener\">reportedly<\/a><a target=\"_blank\" href=\"https:\/\/news.yahoo.com\/netanyahu-tells-biden-israel-act-204539293.html\" style=\"\" rel=\"noopener\">told<\/a> US President Joe Biden that his country will take military action against Yemen\u2019s Houthi movement if the US and the international community fail to prevent the Iran-aligned group from <a target=\"_blank\" href=\"https:\/\/twitter.com\/army21ye\/status\/1733517342905119187\" style=\"\" rel=\"noopener\">targeting Israeli ships<\/a>.<\/li>\n<li><strong>Violence escalates on the Lebanese border: <\/strong>Israeli air strikes <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/lebanons-hezbollah-fires-drones-israel-mounts-air-strikes-2023-12-10\/\" style=\"\" rel=\"noopener\">leveled<\/a> multiple areas in southern Lebanon and Hezbollah launched explosive drones and missiles at Israeli positions. The flare up came a day after Israel\u2019s national security adviser <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9a94a949-f75e-4fd7-a9da-0a8bea3bd687\" style=\"\" rel=\"noopener\">warned<\/a> that Israel \u201ccan no longer accept\u201d Hezbollah on its border and will \u201cact\u201d if they continue to pose a threat.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-israel-relations\/\">Egypt-Israel relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jordan\/\">Jordan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palestine\/\">Palestine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war-watch\/\">war watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"611680\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"611680\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/raya-cx-ceo-ahmed-aboulezz-resigns\/\">\r\n                            CEO of Egypt\u2019s Raya CX Ahmed Aboulezz resigns                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/raya-cx-ceo-ahmed-aboulezz-resigns\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li 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data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/665.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/665.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611680\" class=\"content-area-description single-story post-611680 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-ahmed-aboulezz tag-enterpriseam tag-hisham-abdel-rasoul tag-moves tag-raya-cx tag-raya-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.f08dd7a0-505c-4c1b-a2d2-b2eb42dbbb5a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A change of leadership at Raya CX: <\/strong>Raya CX CEO <strong>Ahmed Abo<\/strong><strong>ulezz<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ahmed-aboulezz\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) has stepped down from his position effective 7 December after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4538d65d-5057-43b0-a17f-15ec253c945c\" style=\"\" rel=\"noopener\">less than a year<\/a> in the job, the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/662.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a> yesterday. <strong>Hisham Abdel <\/strong><strong>Rasoul<\/strong>(<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/hisham-rasoul-062a952\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) \u2014 who heads up the company\u2019s IT arm Raya IT \u2014 has stepped in as interim CEO while the board finds Aboulezz\u2019s successor.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ahmed-aboulezz\/\">Ahmed Aboulezz<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hisham-abdel-rasoul\/\">Hisham Abdel Rasoul<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya-cx\/\">Raya CX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya-holding\/\">Raya Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"611682 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"611682\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/611682\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611682\" class=\"content-area-description single-story post-611682 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/415.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"611683\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"611683\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/last-nights-talk-shows-wall-to-wall-coverage-of-presidential-election-on-first-day-of-voting\/\">\r\n                            Last Night\u2019s Talk Shows: Wall-to-wall coverage of Egypt\u2019s presidential election on first day of voting                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/699.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"699.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/699.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/699.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611683\" class=\"content-area-description single-story post-611683 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-election-2023 tag-enterpriseam tag-last-nights-talk-shows tag-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.c2eabcf8-b2ee-4d1e-88ae-7909c81da1de.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Last night\u2019s talk shows were heavy on superlatives <\/strong>as the nation\u2019s talking heads talked about the first day of voting in the presidential election. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Among the key messages:<\/p>\n<ul>\n<li>The <strong>turnout<\/strong> was \u201cunprecedented\u201d: El Hekaya (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=XpE6RAE7OzE\" style=\"\" rel=\"noopener\">watch, runtime: 2:40<\/a>), Kelma Akhira (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=fC9YzPoTB0o\" style=\"\" rel=\"noopener\">watch, runtime: 7:44<\/a>), Ala Mas\u2019ouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=2bXZSouSLug\" style=\"\" rel=\"noopener\">watch, runtime: 2:02<\/a>), Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=D6jdF0b33fY\" style=\"\" rel=\"noopener\">watch, runtime: 3:44<\/a>).<\/li>\n<li><strong>Voters<\/strong> were enthusiastic: Ala Mas\u2019ouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=k39tz8pdztQ\" style=\"\" rel=\"noopener\">watch, runtime: 10:54<\/a>), Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=QGBqzRh-GC4\" style=\"\" rel=\"noopener\">watch, runtime: 4:44<\/a>). <\/li>\n<li><strong>Media coverage<\/strong> was impartial and the <strong>election <\/strong>was fair: Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=oecvI4DqR1k\" style=\"\" rel=\"noopener\">watch,<\/a><a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=oecvI4DqR1k\" style=\"\" rel=\"noopener\">runtime: 3:15<\/a>), Masaa DMC (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=lYHjYUSNUPU\" style=\"\" rel=\"noopener\">watch, runtime: 1:44<\/a>).<\/li>\n<li><strong>Emotions were high:<\/strong> \u201cI couldn\u2019t stop myself from crying after seeing the sheer number of voters,\u201d one journalist said (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=T6bGK1UN2sM\" style=\"\" rel=\"noopener\">watch, runtime: 3:56<\/a>).<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/election-2023\/\">Election 2023<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span 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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"611686\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/election-election-election\/\">\r\n                            Presidential election steals limelight in foreign press as polls open across the country                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" 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election\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Election%2C+election%2C+election+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F11%2Felection-election-election%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/election-election-election\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/657.JPG?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"611687\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/election-election-election\/657-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/657.JPG?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"657.JPG\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/657.JPG?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/657.JPG?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611686\" class=\"content-area-description single-story post-611686 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-election-2023 tag-enterpriseam tag-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.91d3fb8a-4e90-45a5-ab1c-0fbd34f262ca.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The presidential election continues to dominate the conversation on Egypt <\/strong><strong>internationally this morning: <\/strong>The foreign press is focusing on the troubling economic and geopolitical backdrop to the vote, the high likelihood of President El Sisi securing a third term in office, and scenes at polling stations on the first day of voting yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Take your pick: <\/strong><a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/egypt-elections-el-sissi-gaza-economy-9c9555719864c7a7ae7ccd28dbe4ddb5\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/egyptians-head-polls-election-overshadowed-by-gaza-war-2023-12-10\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.barrons.com\/news\/egypt-s-sisi-votes-in-presidential-election-likely-to-give-him-third-term-3150ad42\" style=\"\" rel=\"noopener\">AFP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-10\/egypt-heads-to-polls-with-el-sisi-set-for-new-term-amid-crisis\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2023\/12\/10\/world\/israel-hamas-war-gaza-news\/gaza-war-boosts-leader-of-egypt-ahead-of-sundays-presidential-vote\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2023\/12\/10\/egypt-election-president-sisi-economy\/?itid=sr_2\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/world-middle-east-67641510\" style=\"\" rel=\"noopener\">BBC<\/a> <strong> | <\/strong><a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2023\/dec\/10\/sisi-poised-win-power-egyptians-minds-gaza-election-egypt\" style=\"\" rel=\"noopener\">The Guardian<\/a> <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/election-2023\/\">Election 2023<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"611688\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"611689\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"611689\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/world-bank-to-help-localize-climate-friendly-agritech-in-egypt-an-african-pe-outfit-wants-a-stake-in-a-local-pharma-firm\/\">\r\n                            World Bank to help localize climate-friendly agritech in Egypt + An African PE outfit wants a stake in a local pharma firm                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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    <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/world-bank-to-help-localize-climate-friendly-agritech-in-egypt-an-african-pe-outfit-wants-a-stake-in-a-local-pharma-firm\/&title=World Bank to help localize climate-friendly agritech in Egypt + An African PE outfit wants a stake in a local pharma firm\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a 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 <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/695.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"611690\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/world-bank-to-help-localize-climate-friendly-agritech-in-egypt-an-african-pe-outfit-wants-a-stake-in-a-local-pharma-firm\/695-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/695.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"695.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/695.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/695.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611689\" class=\"content-area-description single-story post-611689 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-admaius-capital-partners tag-agriculture tag-also-on-our-radar tag-climate tag-cop28 tag-enterpriseam tag-food tag-international-cooperation-ministry tag-nwfe tag-parkville-pharma tag-pharma tag-world-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.47218b0a-fa96-4c17-996c-fc0d1621cb9b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GREEN FARMING- <\/strong>The World Bank will help Egypt localize climate-friendly agritech. (<a target=\"_blank\" href=\"https:\/\/moic.gov.eg\/ar\/news\/1264\" style=\"\" rel=\"noopener\">International Cooperation Ministry statement<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PHARMA M&amp;A- <\/strong>Rwanda-based private equity firm <a target=\"_blank\" href=\"https:\/\/www.admaius.com\/\" style=\"\" rel=\"noopener\">Admaius Capital Partners<\/a> is close to acquiring a minority stake in local pharma firm <a target=\"_blank\" href=\"https:\/\/parkvillepharma.com\/\" style=\"\" rel=\"noopener\">Parkville<\/a>. (<a target=\"_blank\" href=\"https:\/\/tinyurl.com\/5ax8pm44\" style=\"\" rel=\"noopener\">Al Mal<\/a>)<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/admaius-capital-partners\/\">Admaius Capital Partners<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop28\/\">COP28<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-cooperation-ministry\/\">International Cooperation Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nwfe\/\">NWFE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/parkville-pharma\/\">Parkville Pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"611691\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"611691\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/nifty-50-hang-seng\/\">\r\n                            India\u2019s stock market poised to overtake Hong Kong as leading trading center                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/nifty-50-hang-seng\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/nifty-50-hang-seng\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/nifty-50-hang-seng\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a 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data-image-meta=\"[]\" data-image-title=\"697.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/697.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/697.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611691\" class=\"content-area-description single-story post-611691 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-equities tag-financial-markets tag-hong-kong tag-india tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.5d3986ff-f915-4ae6-98e3-60be058a6c37.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>India\u2019s stock market is on track to eclipse Hong Kong: <\/strong>Recent surges in Indian share prices have put the country\u2019s stock exchange on track to surpass Hong Kong and become one of the world\u2019s largest trading centers, according to the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f263bf84-c3e3-4a0e-b2c6-749e3cc172a0\" style=\"\" rel=\"noopener\">Financial Times<\/a>. The National Stock Exchange of India\u2019s total market cap stood at USD 3.7 tn at the end of October, and with strong earnings and growth projections pushing share prices higher in the weeks since, the Mumbai-based market is poised to take the place of the Hong Kong stock exchange (October market cap: USD 3.9 tn) as the world\u2019s seventh-largest exchange.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The hometown angle:<\/strong> Egypt is looking to raise (debt) finance in the Indian capital markets for the first time ever next year with an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/531e2aa1-9b1f-438f-becc-54db56b73c1a\" style=\"\" rel=\"noopener\">INR-denominated bond sale<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BIG US M&amp;A NEWS-<\/strong><\/p><ul>\n<li>US health ins. firm <strong>Cigna<\/strong> pulled out of a planned merger with <strong>Humana<\/strong> \u2014 a transaction that would\u2019ve created a<strong> USD 140 bn<\/strong> ins. giant. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f60d5334-bb0d-4104-b541-72798192cbe8\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/li>\n<li>An investor consortium has submitted a <strong>USD 5.8 bn bid<\/strong> for American department store company <strong>Macy\u2019s<\/strong>. (<a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/deals\/investor-group-launches-5-8-billion-buyout-bid-for-macys-441ca24a\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>) <\/li>\n<\/ul><p><a target=\"_blank\" id=\"t.b0126993bdf543d7613550050def050d97283462\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">24,190<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.0% (YTD: +65.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.83<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.96<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.85<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.95<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,297<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +7.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,401<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: -7.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3,952<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +18.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,604<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +19.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">7,554<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +1.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,523<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.1% (YTD: +19.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 75.84<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.58<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,014.50<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 43,807<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +165.4%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 2.0% at yesterday\u2019s close<\/strong> on turnover of EGP 3.4 bn (9.4% above the 90-day average). Local investors were net buyers. The index is up 65.7% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Madinet Masr (+3.9%), Fawry (+1.0%) and EFG Holding (+0.6%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Mopco (-10.1%), Orascom Development Egypt (-6.9%) and Palm Hills Development (-5.5%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are largely up this morning <\/strong>as investors welcome Chinese inflation falling at its fastest pace since 2020, according to <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/12\/11\/asia-markets.html\" style=\"\" rel=\"noopener\">CNBC<\/a>. Equities futures suggest Europe will largely open in the green later today, while Wall Street could be looking at a mixed open. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/equities\/\">equities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hong-kong\/\">Hong Kong<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/india\/\">India<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"611693\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">11<\/div>\r\n\r\n                        <p class=\"f-graphik\">BLACKBOARD<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/what-is-the-state-of-egypts-corporate-ld-in-2023\/\">\r\n                            What is the state of Egypt\u2019s corporate L&amp;D in 2023?<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/what-is-the-state-of-egypts-corporate-ld-in-2023\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Globally, most university-based executive education programs work with corporate clients \u2014 as opposed to Egypt, where individuals are investing a lot in their own L&D for better job prospects, according to a recent <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/611.pdf\" style=\"\" rel=\"noopener\">AUC School of Business report (pdf)<\/a> that surveyed 40 companies in Egypt across 12 different sectors to map the L&D landscape from a corporate perspective. Broadly speaking, many of the same key market gaps from 2022 have carried over into 2023, albeit with different weights and with some gaps narrowing since last year, the report shows. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE KEY TAKEAWAYS-<\/strong><\/p>\n<ul>\n<li>Nearly two thirds (60%) of the market is up to date on the latest L&D trends;<\/li>\n<li>Companies are placing greater emphasis on the need for experiential learning and application-based learning and development programs;<\/li>\n<li>A large market gap remains when it comes to effective assessment support, which, despite being costly, companies are willing to pay for. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Who\u2019s seeking out L&D in Egypt?<\/strong> Companies broadly identify their L&D training needs through their L&D department, which the report says \u201cwas the key identifier of training needs in 79% of the studied cases,\u201d while other departments and circumstances or market developments prompted accounted for 18%. Coming in last with 3% of the cases is \u201cstrategic vision and management-driven triggers,\u201d according to the report. However, the bottom-up process has become less predominant at SMEs in Egypt (23% weight in 2023 vs. 33% in 2022) as \u201cthe ongoing economic uncertainty and disruption in the Egyptian market has driven SME managers to be more involved in decisions related to various cost streams, which includes training expenditures.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>And who\u2019s keeping up with the L&D landscape?<\/strong> Some 60% of respondents indicated that they \u201care always updated with the latest trends\u201d in L&D, with these respondents noting that they are able to keep up thanks to top-level support of the importance of L&D, having adequate access to resources, how the organization functions, and \u201cevolving industry trends.\u201d Multinational players also cited global directives as being a key driver. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>The biggest gap in L&D: Companies also really want to see experiential learning taking <\/strong><strong>the lead.<\/strong> The largest gap in the L&D market that respondents identified is the need for experiential learning and programs that prioritize knowledge application, although a smaller percentage of respondents cited it as a gap this year than did in 2022. While 48% said this is a key market gap in 2023, this is down from 71% in 2022. \u201cThere is a clearly visible gap in the local L&D sector between conveying concepts and providing theoretical knowledge on the one side, and the application of that knowledge in practice on the other,\u201d the report says. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Not seeing as much progress as desired: Digital learning tech.<\/strong> Although the covid-19 pandemic changed workplace dynamics and introduced fully remote or hybrid work models, \u201csimultaneously increasing the reliance on technology and digital tools \u2026 many L&D professionals believe that corporates and providers are still behind when it comes to making full use of digital learning technology,\u201d the report says. This gap persists even though earners surveyed in the report were most keen to learn more about digital transformation, with 48% of respondents identifying it as the most important topic for L&D. Digital transformation was followed by \u201cfinancial inclusion, disruptive management, healthcare forecasting and systems, [and] storytelling,\u201d the report notes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>The same goes for L&D providers finding the right balance between hard and soft skills<\/strong>, which the report notes also \u201cdid not see a noticeable change\u201d y-o-y in terms of the size or weight of the market gap. Respondents indicated that there\u2019s a lack of \u201coptimally coupled\u201d training that effectively blends hard skills \u2014 technical knowledge or training that are required for job-related duties \u2014 with soft skills \u2014 which include people, communication, and time management skills. \u201cMost notably, local providers are still behind when it comes to offering hard skills training programs that are intensely functional or technical in nature, especially if they\u2019re industry-, category-, or company-specific,\u201d the report says. Local companies reported a greater need for this blended training, which the report suggests \u201cstems from the push to produce faster results in order to better compete in the market.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Looking ahead:<\/strong> As Egypt\u2019s workforce is grappling with \u201crepeated shocks and disruptions\u201d on the macroeconomic level, the importance of companies keeping their employees trained and equipped to cope with a constantly evolving landscape is key, the report notes. \u201cUpskilling and reskilling current employees is crucial for the success of both organizations and individuals,\u201d and is significantly more cost-effective and beneficial to companies than consistently bringing on board new talent to fill talent gaps. This focus on upskilling and reskilling also needs to focus on providing employees with the needed L&D through experiential programs that provide a \u201clocal flavor.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>We\u2019re planning to sell off 44 schools to the private sector:<\/strong> Ten new schools and another 34 under development will be offered to private-sector investors by the Education Ministry, a cabinet <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3w9s4rd3\" style=\"\" rel=\"noopener\">statement<\/a> said. <\/li>\n<li><strong>The Knowledge Hub Universities may have a new branch soon: <\/strong>Elsewedy Education\u2019s Knowledge Hub Universities wants to open a branch in Sheikh Zayed, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/4tdb6v97\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports. <\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/blackboard\/\">Blackboard<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"611695\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/611695\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611695\" class=\"content-area-description single-story post-611695 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 November-12 December (Thursday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cop28.com\/en\/schedule\" style=\"\">COP28<\/a><\/span><span style=\"font-weight:400;\">, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>9-15 December (Saturday-Friday) :The Engineering Export Council of Egypt\u2019s<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3RcDzJg\" style=\"\">trade mission<\/a><\/span><span style=\"font-weight:400;\"> to Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-12 December (Sunday-Tuesday): Voting <\/span><span>in presidential<\/span><span style=\"font-weight:400;\"> election takes place in Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12-13 December (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-14 December (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/foodafrica-expo.com\/\" style=\"\">Food Africa Expo<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>14 December (Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/tinyurl.com\/55mr8mmn\" style=\"\">Bidding deadline<\/a><\/span><span style=\"font-weight:400;\"> for five gold mine concessions in the Eastern Desert.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>14-21 December (Thursday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/elgounafilmfestival.com\" style=\"\">El Gouna Film Festival<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">16-18 December (Saturday-Monday): Egypt, Ethiopia, and Sudan to resume talks over the filling of the Grand Ethiopian Renaissance Dam (GERD).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 December (Wednesday): End of sugar export ban.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in December:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Gov\u2019t expects to finalize sale of a stake in military-owned bottled drinks company Safi<\/span><\/li>\n<li><span style=\"font-weight:400;\">Gov\u2019t expects to finalize stake sale for military-owned fuel retailer Wataniya.<\/span><\/li>\n<li><span style=\"font-weight:400;\">Gov\u2019t expects to finalize sale of Zafarana wind farm<\/span><\/li>\n<li><span style=\"font-weight:400;\">FRA to announce chosen consortium for credit rating license<\/span><\/li>\n<li><span style=\"font-weight:400;\">Kenyan trade conference in Egypt.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EVENTS WITH NO SET DATE <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2H 2023: Egyptian government expected to sign agreements with a consultant for the EuroAfrica electricity interconnector.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2H 2023: President Abdel Fattah El Sisi and Turkish President Recep Tayyip Erdogan expected to hold a summit.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3Q 2023: E-Finance <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3MhzDCI\" style=\"\">to launch in Saudi Arabia<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4Q 2023: EGX to launch its new futures exchange.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4Q 2023: EGX to launch a shariah-compliant index.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2023: A Developments\u2019 first phase of the Lazoghly development completed.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2024: Standard Chartered Bank to open a branch in Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25 February 2024 (Sunday): Deadline for bidders for oil and gas expansion in the 23 new regions.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Q1 2024: Opening of the new developed Pyramids Plateau in Giza.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">June 2024: Gov\u2019t expects to finalize sale of Beni Suef combined-cycle power plant.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1H 2024: Gov\u2019t expects to finalize sale of four water desalination plants.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2H 2024: Gov\u2019t to launch the Cairo Ring Road BRT buses.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2024: The launch of the high-speed train line linking Ain Sokhna with Al Alamein City. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>November 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LLPJRjsu6SZLwtRHuLmCQxoAZB3xaXVXH8aYkMSEH3ae4aW6JCZaPe5h5u9nKmcRl\" style=\"\">Egypt to host<\/a><\/span><span style=\"font-weight:400;\"> the 12th session of the World Urban Forum (WUF12).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2Q 2025: Safaga Terminal 2 to start operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">The Grand Egyptian Museum could be officially open to visitors some time between February and May 2024 .<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Q1 2024: Opening of the newly developed Pyramids Plateau in Giza.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JANUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1 January (Monday): Egypt to join the Brics.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">7 January (Sunday): Coptic Christmas.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17 January (Wednesday): A delegation of Egyptian companies to visit Istanbul.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25 January (Thursday): Revolution day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FEBRUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">11 February (Sunday): The deadline to apply for the Chicago Booth Executive Program<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">APRIL<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">9 April (Tuesday): Eid El Fitr (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 May (Wednesday): National holiday in observance of Labor Day (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5 May (Sunday): Coptic Easter.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 May (Monday): Sham El Nessim (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29 May (Wednesday): Chicago Booth Executive Program<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15-19 June (Saturday-Wednesday): Eid El Adha (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 June (Sunday): June 30 Revolution Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">7 July (Sunday): National holiday in observance of Islamic New Year (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23 July (Tuesday): Revolution Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-5 September (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.airport-technology.com\/sponsored\/dates-announced-for-egypt-international-airshow-2024\/\" style=\"\">Egypt International Airshow<\/a><\/span><span style=\"font-weight:400;\">, El Alamein International Airport.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15 September (Sunday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6 October (Sunday): Armed Forces Day.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Charge in FX, pay VAT in FX | Election 2023: Day 2 | Gaza warnings | L&#038;D in 2023.<\/p>\n","protected":false},"featured_media":611668,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-611667","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"7ea735fc-4b90-4595-b67f-b4779c8db0a8","teaser":"Charge in FX, pay VAT in FX | Election 2023: Day 2 | Gaza warnings | L&D in 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