{"id":611912,"date":"2023-12-14T04:00:00","date_gmt":"2023-12-14T04:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=611912"},"modified":"2025-12-17T02:40:01","modified_gmt":"2025-12-17T02:40:01","slug":"plenty-of-ma-investment-news-at-home-as-fed-teases-rate-cuts-in-the-new-year","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/plenty-of-ma-investment-news-at-home-as-fed-teases-rate-cuts-in-the-new-year\/","title":{"rendered":"Plenty of M&#038;A + investment news at home as Fed teases rate cuts in the new year"},"content":{"rendered":"<section id=\"611914\" 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=\"611914\">\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\/14\/fed-signals-pivot-to-rate-cuts-sparking-market-rally\/\">\r\n                            Fed signals pivot to rate cuts, sparking market rally                        <\/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\/14\/fed-signals-pivot-to-rate-cuts-sparking-market-rally\/\" target=\"_blank\">\n  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tag-interest-rates 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\/.ee61bd50-c8cf-42f2-92d0-ed1b9117fb20.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends. <\/strong>After so much macro and gnashing of teeth in the past few months, your Thursday morning read is packed with corporate announcements. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the news well: EFG Hermes<\/strong> is said to be fundraising for <strong>Vortex<\/strong>, its high-profile renewable energy fund, <strong>Raya<\/strong> is making a smart play to up its stake in <strong>Ostool<\/strong>, <strong>B Investments<\/strong>\u2019 board is going ahead with its bid for <strong>Orascom Financial<\/strong>, and the red-hot <strong>securitization<\/strong> market shows no sign of flagging heading into the final days of the year. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In Also on our Radar: <\/strong>There\u2019s a gentle current of optimism running through the news. <strong>Majid Al <\/strong><strong>Futtaim<\/strong> is looking to invest some EGP 5.7 bn to open 50 new Carrefour branches and 144 branches of wholesale grocery Supeco. <strong>Beltone Mortgage Finance<\/strong> is aggressively raising its capital, signaling confidence in its quick-turnaround mortgage product that could help breathe life into a frozen secondary market. And <strong>Sky Investments<\/strong> is lining up an EGP 3 bn facility to finance the buildout of a real estate project in the Fifth Settlement.<\/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>BEFORE YOU READ anything else this morning: Benedict Evans is back with his annual <\/strong><strong>presentation on the macro and strategic <\/strong><strong>trends he thinks will shape technology and business <\/strong>in the new year. Evans rose to prominence at Andreessen Horowitz and now runs his own consultancy \u2014 and is a sharp presence on Threads, for those so inclined. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>His AI-focused deck this year has few answers, and plenty of questions <\/strong>\u2014 many of them worth pondering regardless of the industry in which you do business. Among the questions and takeaways:<\/p><ul>\n<li>The tech venture space is slowing down across the board \u2014 except within AI<\/li>\n<li>Finance and tech executives are pushing hardest to figure out what AI means for their businesses. Retail and professional services execs are lagging behind. <\/li>\n<li>Nobody knows what\u2019s next: Is this a platform shift? Does generative AI change the nature of software? Does it take us to artificial general intelligence?<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ The presentation is at its best when it\u2019s unpacking all the questions within those last <strong>three questions. <\/strong>It\u2019s worth an hour of your time this morning to <a target=\"_blank\" href=\"https:\/\/www.ben-evans.com\/presentations?utm_source=pocket_saves\" style=\"\" rel=\"noopener\">read the presentation (87 easy-to-read slides)<\/a> and then watch Evans deliver it in this video recorded earlier this month (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=xNBiPd2H9J0\" style=\"\" rel=\"noopener\">watch, runtime: 27:40<\/a>). <\/p><p class=\"tag-border-left\">HOTEL BOOKINGS REBOUND- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>Hotel bookings in Egypt + the Middle East are rebounding -Accor: <\/strong>Bookings in the region are rebounding after an initial freeze that followed Israel\u2019s invasion of Gaza in October, with occupancy rates in Egypt holding strong, Accor CEO S\u00e9bastien Bazin tells <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-13\/middle-east-hotel-bookings-went-from-total-panic-to-recovery-accor-ceo-says\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The hospitality giant saw heavy cancellations during the \u201ctotal panic\u201d of the first few weeks after the outbreak of hostilities, but this was \u201cvery, very short-lived, he said. \u201cThe occupancy we have today in Sharm el-Sheikh, in Cairo, and many other places has been very, very strong.\u201d <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Business for our tourism sector has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6b948aec-8dcc-44e0-89b4-81dbe56c2bda\" style=\"\" rel=\"noopener\">remained steady<\/a> despite the war on Gaza, with Tourism Minister Ahmed Issa still expecting we will hit our <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/17592ef1-2055-49cb-94c1-4ab525d57ba5\" style=\"\" rel=\"noopener\">target<\/a> of bringing a record 15 mn tourists into the country this year. <\/p><p class=\"tag-border-left\">COMMODITY CRUNCH-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Coping with the commodities crisis: <\/strong>Prime Minister Moustafa Madbouly held \u201cintensive talks\u201d yesterday with a number of ministers and senior officials to lay out his government\u2019s response plan spiraling prices and short supply of a number of basic commodities including sugar and onions.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The goal, per <\/strong><strong><a target=\"_blank\" href=\"http:\/\/tinyurl.com\/4skkkxp3\" style=\"\" rel=\"noopener\">a cabinet readout<\/a><\/strong><strong>: Short-term price stability. <\/strong>Here\u2019s the rundown:<\/p><ul>\n<li><strong>Clear definitions: <\/strong>Cabinet will finalize and issue a list of what, exactly, constitutes a \u201cbasic commodity\u201d at any given time; <\/li>\n<li><strong>The Supply Ministry will take steps to improve the supply of those goods in the <\/strong><strong>market<\/strong><strong>.<\/strong> The statement didn\u2019t say whether the ministry would tap strategic reserves or import more to address the gaps.<\/li>\n<li><strong>Are you hoarding? Price gouging? <\/strong>Government inspectors are going to be making more visits to wholesalers and retailers alike. <\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PSA- The blackouts are back:<\/strong> With the election over, the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9a94a949-f75e-4fd7-a9da-0a8bea3bd687\" style=\"\" rel=\"noopener\">four-day respite<\/a> from blackouts is officially at a close. Expect two hours of power cuts a day from here on out, Electricity Ministry sources tell <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/5n72pbes\" style=\"\" rel=\"noopener\">Al Mal<\/a>.<\/p><p class=\"tag-border-left\">HAPPENING TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Deadline day for brownfield mining bid round:<\/strong> Companies have until 12 pm today to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/774ecd5a-ec41-482f-b0e3-6eda3a89a4f3\" style=\"\" rel=\"noopener\">bid<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/774ecd5a-ec41-482f-b0e3-6eda3a89a4f3\" style=\"\" rel=\"noopener\">for<\/a> five brownfield gold concessions in the Eastern Desert from the state-owned Shalateen Mining Resources Company. Another 13 exploration concessions will also soon be up for grabs at the start of next year, a government source <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/17080952-e361-438a-bceb-1ef189921871\" style=\"\" rel=\"noopener\">recently told<\/a> Enterprise.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another extension could be in the cards:<\/strong> The government will wait until the end of submissions to determine whether to extend the deadline for a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/17080952-e361-438a-bceb-1ef189921871\" style=\"\" rel=\"noopener\">third time<\/a>, our source said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/foodafrica-expo.com\/\" style=\"\" rel=\"noopener\">Food Africa Expo<\/a><\/strong><strong> concludes today: <\/strong>The three-day trade show in Cairo has hosted b2b networking and taste-testing between F&amp;B players from 30 countries around the Middle East and Africa.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Hopes for yet more trade with KSA:<\/strong> Egyptian manufacturers have <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2rsmvf5p\" style=\"\" rel=\"noopener\">spent the week<\/a> in Jeddah vying for more orders on pumps, car parts, and other engineered goods from Saudi Arabia, the largest importer for our engineering sector. The trip, organized by Egypt\u2019s Engineering Export Council, wraps tomorrow.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#4- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/elgounafilmfestival.com\" style=\"\" rel=\"noopener\">El Gouna Film Festival<\/a><\/strong><strong> kicks off today<\/strong> after having been postponed from its original October date. In response to the catastrophe unfolding in Gaza, this year\u2019s edition will also feature a program of Palestinian cinema in collaboration with the Palestine Film Institute.<\/p><p class=\"tag-border-left\">HAPPENING THIS WEEK- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>Negotiators are giving GERD talks another go:<\/strong> Efforts to find a breakthrough in the so far intractable GERD dispute <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/54befe91-5ef8-48b6-9d14-c3fe0d4a1389\" style=\"\" rel=\"noopener\">will resume<\/a> in the Ethiopian capital on 16-18 December.<\/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\/996.jpg?ssl=1\"><\/p><p class=\"tag-border-left\">THE BIG STORIES ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a><strong> #1- Fed signals pivot to rate cuts, sparking market rally: <\/strong>Federal Reserve chair Jerome Powell said on Wednesday that the US central bank\u2019s tightening cycle is \u201clikely at or near its peak,\u201d and that officials are now discussing the prospect of lowering interest rates from their current 22-year high, <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ff1f4787-57fb-4187-a215-5a32c55deeed\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. As expected, the central bank held the fed funds rate unchanged at 5.25-5.5% in the wake of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a50497d7-8f54-4561-aa6a-d13b98a12e5b\" style=\"\" rel=\"noopener\">inflation data<\/a> that showed price growth moving closer to the 2% target in November, despite indications of persisting underlying pressures. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fed officials penciled in no further rate hikes in their projections<\/strong> \u2014 the first time they\u2019ve done so since March 2021, boosting traders\u2019 predictions of a reduction in March to \u201ca near certainty,\u201d according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-13\/fed-holds-rates-steady-again-and-pivots-toward-cuts-in-2024\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Officials expect to lower rates by 75 bps in 2024<\/strong>, and expect them to fall to 3.5-3.75% by 2025, according to the Fed\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/984.pdf\" style=\"\" rel=\"noopener\">\u201cdot plot\u201d (pdf)<\/a>. This is a bigger drop than analysts expected, as a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0b3e70c0-d980-4d77-8747-62cc7b67828f\" style=\"\" rel=\"noopener\">recent poll<\/a> saw economists predicting that the Fed would only trim rates by half a percentage point or less in 2024.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What analysts said: <\/strong>\u201cHis presser certainly had a tone of finality to it,\u201d one economist told Bloomberg. \u201cJerome Powell seems to be done taking the punch bowl away,\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-12\/stock-market-today-dow-s-p-live-updates\" style=\"\" rel=\"noopener\">said another<\/a>. \u201cIt\u2019s a big change in the language that indicates policymakers see less need to aggressively tighten.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cue huge market rally:<\/strong><\/p><ul>\n<li><strong>US stocks rallied: <\/strong>The Dow Jones closed at a record high of 37k, while the benchmark S&amp;P 500 gained 1.4% to close at its highest level since January 2022. <\/li>\n<li><strong>Bond yields tanked:<\/strong> The two-year treasury yield recorded its <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ff1f4787-57fb-4187-a215-5a32c55deeed\" style=\"\" rel=\"noopener\">biggest daily fall since<\/a> the collapse of Silicon Valley Bank in March. <\/li>\n<li><strong>Gold popped:<\/strong> The precious metal gained 2.7%.<\/li>\n<li><strong>The greenback fell:<\/strong> The USD fell to a four-month low.<\/li>\n<li><strong>BTC spiked:<\/strong> The cryptocurrency jumped as much as 4% to more than USD 43k.<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Powell\u2019s presser is <\/strong><strong>already having an effect here at home:<\/strong> The surge in the international gold price pushed local gold prices to record highs. The price of 24 karat gold rose 1.4% to <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/4r3zks2r\" style=\"\" rel=\"noopener\">EGP<\/a><a target=\"_blank\" href=\"http:\/\/tinyurl.com\/4r3zks2r\" style=\"\" rel=\"noopener\">3,234<\/a> per gram yesterday, leaving it almost 70% higher year-to-date.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** It\u2019s the CBE\u2019s turn next week:<\/strong> The Central Bank of Egypt (CBE) is scheduled to convene for its final meeting of 2023 next Thursday, 21 December.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The news is dominating the global business news agenda this morning:<\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/fed-likely-hold-rates-steady-signal-couple-cuts-2024-2023-12-13\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-13\/fed-holds-rates-steady-again-and-pivots-toward-cuts-in-2024?srnd=premium\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ff1f4787-57fb-4187-a215-5a32c55deeed\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2023\/12\/13\/business\/fed-meeting-interest-rates\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/economy\/central-banking\/fed-holds-rates-steady-and-sees-cuts-next-year-4d554e9f\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/12\/13\/fed-interest-rate-decision-december-2023.html\" style=\"\" rel=\"noopener\">CNBC<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN OTHER BUSINESS NEWS-<\/strong><\/p><ul>\n<li><strong>Bad day for Tesla:<\/strong> The EV giant has been forced to recall almost all 2 mn of its cars on the road in the US to patch the safety features of its autopilot system. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/tesla-update-software-autopilot-control-issue-2-mln-vehicles-nhtsa-2023-12-13\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<li><strong>Argentina\u2019s Chicago boy starts the shock therapy:<\/strong> Argentina\u2019s currency plunged more than 50% yesterday, as the country\u2019s new libertarian president Javier Milei kicked off his (slightly less) radical reform agenda, which includes slashing government spending (but doesn\u2019t include burning the central bank to the ground). (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/markets-greet-argentinas-tough-pill-fix-economy-with-cautious-optimism-2023-12-13\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<li><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/069c1eaa-df8e-408b-bf8a-f60760eb10f7\" style=\"\" rel=\"noopener\">SBF\u2019s<\/a><\/strong><strong> lawyer breaks silence on his client:<\/strong> \u201cHe may be at the very top of the list as the worst person I\u2019ve ever seen do a cross examination.\u201d (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-12\/sbf-defense-legal-architect-david-mills-says-ftx-trial-was-unwinnable\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/li>\n<\/ul><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 class=\"tag-border-left\">WAR ECONOMICS- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#1- The cost of the war on Israel\u2019s neighbors: <\/strong>Egypt, Lebanon and Jordan could suffer an economic blow of at least USD 10 bn from the ongoing war in Gaza, according to a UN study picked up by <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/gaza-war-hits-neighbouring-arab-economies-could-cut-gdp-23-un-study-2023-12-13\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. The three countries could together lose USD 10.3 bn (equivalent to around 2.3% of GDP), an amount that could double if the fighting continues for another six months.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Ships are rerouting away from the Red Sea and Gulf of Aden <\/strong>amid increasing attacksonvessels by the Houthis, according to <a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/commodityinsights\/en\/market-insights\/latest-news\/oil\/121123-shippers-avoiding-red-sea-transits-after-attacks-watching-suez-canal-traffic\" style=\"\" rel=\"noopener\">S&amp;P Global<\/a>. Companies are tightening security measures, with some choosing to transit around Africa to avoid the risk of attack, despite prolonging their journeys by around two weeks. Ins. rates have also climbed as the Houthis <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/yemens-houthis-say-they-will-target-ships-red-sea-en-route-israel-2023-12-09\/\" style=\"\" rel=\"noopener\">warned<\/a> last week that they would expand their target to all ships heading to Israel, regardless of their nationality.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another vessel came under attack yesterday near the Bab El Mandeb strait:<\/strong> Two missiles fired from a Houthi stronghold in Yemen narrowly missed a commercial tanker heading to the Suez Canal and carrying Indian-manufactured jet fuel, the <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/yemen-houthi-rebels-ship-attacks-us-navy-1727df3d95e548c6e4d20b51f096268f\" style=\"\" rel=\"noopener\">Associated Press<\/a> reported.<\/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\/federal-reserve\/\">Federal Reserve<\/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\/global-economy\/\">global economy<\/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                            <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=\"611916 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=\"611916\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/611916\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611916\" class=\"content-area-description single-story post-611916 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><div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">DISCOVER SOMABAY: <\/span><span>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=\"611917\" 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=\"611917\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/historic-agreement-at-cop28-signals-the-end-of-the-age-of-oil\/\">\r\n                            \u201cHistoric\u201d agreement at COP28 \u201csignals the end of the age of oil\u201d                        <\/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\/14\/historic-agreement-at-cop28-signals-the-end-of-the-age-of-oil\/\" 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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The meeting ended in overtime after marathon negotiations<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\u201c<strong>Together we have confronted the realities and sent the world in the right direction<\/strong>,\u201d said Sultan Al Jaber, wearing his COP28 hat, at his closing plenary <a target=\"_blank\" href=\"https:\/\/www.cop28.com\/en\/news\/2023\/12\/COP28-President-Delivers-Remarks-at-Closing-Plenary\" style=\"\" rel=\"noopener\">speech<\/a>, describing the package as \u201chistoric\u201d and branding it \u201cthe UAE consensus.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Key clauses in the final text, verbatim: <\/strong><\/p>\n<ul>\n<li>\u201c<strong>Transitioning away from fossil fuels<\/strong> in energy systems, in a just, orderly and equitable manner \u2026 so as to achieve net zero by 2050 in keeping with the science.\u201d<\/li>\n<li>\u201c<strong>Tripling renewable energy capacity globally<\/strong> and doubling the global average annual rate of energy efficiency improvements by 2030.\u201d<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s the first time in three decades of UN climate conferences a final agreement mentions <\/strong><strong>fossil fuels in its wording<\/strong> and steers toward a low-carbon energy system. The European Union <a target=\"_blank\" href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/de\/speech_23_6588\" style=\"\" rel=\"noopener\">hailed<\/a> the decision as the \u201cbeginning of the end of fossil fuels.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It was never a certainty that they\u2019d reach an agreement. <\/strong>Saudi Arabia along with Iraq, India and others fiercely oppose the use of \u201cphase out\u201d or \u201cphase down\u201d in any final agreement. Saudi had signaled since the first days of COP28 that it simply wouldn\u2019t sign an agreement that even hinted at the end of hydrocarbons, which account for as much as 45% of its GDP. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the other: <\/strong>The European Union and small island nations, who have variously called the Arab world\u2019s stance \u201cdisgusting,\u201d \u201cdeeply disappointing,\u201d and \u201cout-of-step.\u201d Climate change is particularly existential for the island countries, who face the prospect of their nations sinking into seas and oceans.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The compromise <\/strong>was wording on \u201ctransitioning away\u201d from hydrocarbons \u2014 and some wanted the agreement to go further, with a group of small island countries criticizing the text\u2019s \u201c <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/environment\/alliance-small-island-states-sees-a-litany-loopholes-cop28-text-2023-12-13\/\" style=\"\" rel=\"noopener\">litany of loopholes<\/a>.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Judge for yourself <\/strong>The final text of the pact \u2014 called the \u201cglobal stocktake\u201d in COP-ese \u2014 is <a target=\"_blank\" href=\"https:\/\/unfccc.int\/sites\/default\/files\/resource\/cma2023_L17_adv.pdf\" style=\"\" rel=\"noopener\">here (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out coverage from: <\/strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/3ffd821c-6200-4808-b16d-ac9cb2207f11\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-13\/cop28-ends-with-deal-on-transition-away-from-fossil-fuels?srnd=premium-middle-east&leadSource=uverify%20wall\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/environment\/countries-push-cop28-deal-fossil-fuels-talks-spill-into-overtime-2023-12-12\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/cop28-climate-summit-negotiations-fossil-fuels-dubai-64c0e39e6ad54a98e05e5201a2215293\" style=\"\" rel=\"noopener\">Associated Press<\/a> <\/p>\n\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\/climate-2\/\">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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/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=\"611919\" 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=\"611919\">\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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/govt-to-launch-pilot-mandatory-carbon-market-in-1q-2024\/\">\r\n                            Gov\u2019t to launch pilot mandatory carbon market in 1Q 2024                        <\/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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           <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/955.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"611920\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/govt-to-launch-pilot-mandatory-carbon-market-in-1q-2024\/955-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/955.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"955.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/955.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/955.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611919\" class=\"content-area-description single-story post-611919 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-capital-markets tag-carbon-credits tag-climate tag-enterpriseam tag-esg tag-financial-regulatory-authority tag-world-bank 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\/.7156e112-f0e2-4cae-ac4e-ffed43be1315.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A mandatory <\/strong><strong>carbon market<\/strong><strong> is in the works:<\/strong> The government is planning to launch a pilot phase for a proposed mandatory carbon market in 1Q 2024, two government sources told Enterprise. The market \u2014 which will take efforts to reduce greenhouse gas emissions up a notch from the EGX\u2019s planned <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/68268b61-5682-45af-a907-019ac3373c6a\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/68268b61-5682-45af-a907-019ac3373c6a\" style=\"\" rel=\"noopener\">voluntary carbon market<\/a> \u2014 will be piloted during a non-compulsory first phase, before it goes live following approval from the EGX and the Financial Regulatory Authority (FRA). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> The EGX <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/68268b61-5682-45af-a907-019ac3373c6a\" style=\"\" rel=\"noopener\">last year<\/a> announced it would set up Africa\u2019s first <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/68268b61-5682-45af-a907-019ac3373c6a\" style=\"\" rel=\"noopener\">voluntary carbon market<\/a>. The market aims to allow companies in Egypt and Africa working on emissions-reducing projects to sell certified carbon credits, which can then be bought by other companies wanting to offset their emissions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Voluntary vs. mandatory carbon markets:<\/strong>Voluntary markets allow companies to voluntarily purchase carbon credits to offset their carbon emissions. Mandatory markets legally require participants to offset their carbon emissions by purchasing credits to achieve government-mandated or international reduction targets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We already have an advisor for the project: <\/strong>The World Bank is advising the Environment Ministry on how to set up the market, one source tells us. In the meantime, a number of governmental entities \u2014 including the environment and electricity ministries as well as the FRA and the EGX \u2014 are looking at regulatory frameworks adopted by other countries. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who will be involved?<\/strong> The project will target companies and institutions that operate in a number of industries, including fertilizers, petrochemicals, transportation, waste recycling, renewable energy, construction, mining, and petroleum. The electricity sector has already sold carbon certificates for renewable energy projects, we\u2019re told.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The project could be an FX generator:<\/strong> Carbon certificates will be sold to both local and foreign companies, our source said. <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/2wp4sd77\" style=\"\" rel=\"noopener\">Al Borsa<\/a> also reports that the government will offer surplus carbon credits on international markets in a bid to raise FX.<\/p>\n\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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/carbon-credits\/\">carbon credits<\/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\/esg\/\">ESG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/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=\"611921\" 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=\"611921\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/efg-hermes-eyes-usd-300-mn-second-close-for-vortex-renewable-energy-fund\/\">\r\n                            EFG Hermes eyes USD 300 mn second close for Vortex renewable energy fund                        <\/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\/14\/efg-hermes-eyes-usd-300-mn-second-close-for-vortex-renewable-energy-fund\/\" 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\/14\/efg-hermes-eyes-usd-300-mn-second-close-for-vortex-renewable-energy-fund\/')\">\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\/14\/efg-hermes-eyes-usd-300-mn-second-close-for-vortex-renewable-energy-fund\/\">\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 target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=EFG Hermes eyes USD 300 mn second close for Vortex renewable energy fund&url=https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/efg-hermes-eyes-usd-300-mn-second-close-for-vortex-renewable-energy-fund\/\">\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\/14\/efg-hermes-eyes-usd-300-mn-second-close-for-vortex-renewable-energy-fund\/&title=EFG Hermes eyes USD 300 mn second close for Vortex renewable energy fund\">\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=EFG+Hermes+eyes+USD+300+mn+second+close+for+Vortex+renewable+energy+fund+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F14%2Fefg-hermes-eyes-usd-300-mn-second-close-for-vortex-renewable-energy-fund%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\/14\/efg-hermes-eyes-usd-300-mn-second-close-for-vortex-renewable-energy-fund\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611921\" class=\"content-area-description single-story post-611921 post type-post status-publish format-standard hentry category-energy tag-efg-hermes tag-efg-holding tag-energy tag-enterpriseam tag-ignis-energia tag-investment-watch tag-renewables tag-vortex-energy 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\/.4b3d44ba-2989-4e13-85ce-eb627206c7a4.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Second close for Vortex Energy IV Fund around the corner?<\/strong> Our friends at EFG Hermes have reportedly opened subscriptions for a second close of USD 300 mn for the fourth fund of flagship renewable energy investment platform Vortex Energy, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/12\/12\/1745034\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing an unnamed source at the fund. The close \u2014 which is reportedly targeting commitments from Gulf sovereign wealth funds and European investors \u2014 could wrap up before the year\u2019s end, bringing the fund\u2019s total size to over USD 500 mn. A senior exec declined to comment when we reached out yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>The fund reached <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/86c5a819-d5d5-4755-af2f-c9bbfdb504e8\" style=\"\" rel=\"noopener\">first close of USD 200 mn<\/a> back in 2021.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s all that dry powder going to be deployed? <\/strong>The fund will finance the expansion of Spanish renewables developer <a target=\"_blank\" href=\"https:\/\/ignis.es\/en\/\" style=\"\" rel=\"noopener\">Ignis Energia<\/a> and potentially the acquisition of an unnamed major renewables company which is currently under study, according to the local outlet. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Vortex Energy loves Ignis:<\/strong> Vortex has reportedly invested around EUR 398 mn in Ignis so far according to Al Borsa. It had committed some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d1890753-e50c-4b00-802c-b13c13db54cc\" style=\"\" rel=\"noopener\">EUR 300 mn<\/a> to the company as of the beginning of November, EFG Hermes co-CEO Karim Moussa told us last month. It is unclear whether Vortex is still on track to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/65a8fe4f-1dec-49a2-b755-187b7dec50cc\" style=\"\" rel=\"noopener\">invest a total of EUR 625 mn<\/a> in Ignis to acquire an undisclosed stake in the firm; Moussa told us previously that it was in talks to revisit the plans due to changing market conditions.<\/p>\n\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\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-holding\/\">EFG Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ignis-energia\/\">Ignis Energia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vortex-energy\/\">Vortex Energy<\/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=\"611923\" 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=\"611923\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/b-investments-board-approves-orascom-financial-acquisition-bid\/\">\r\n                            B Investments\u2019 board approves Orascom Financial acquisition bid                        <\/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\/14\/b-investments-board-approves-orascom-financial-acquisition-bid\/\" 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\/14\/b-investments-board-approves-orascom-financial-acquisition-bid\/')\">\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\/14\/b-investments-board-approves-orascom-financial-acquisition-bid\/\">\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 target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=B Investments\u2019 board approves Orascom Financial acquisition bid&url=https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/b-investments-board-approves-orascom-financial-acquisition-bid\/\">\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\/14\/b-investments-board-approves-orascom-financial-acquisition-bid\/&title=B Investments\u2019 board approves Orascom Financial acquisition bid\">\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=B+Investments%E2%80%99+board+approves+Orascom+Financial+acquisition+bid+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F14%2Fb-investments-board-approves-orascom-financial-acquisition-bid%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\/14\/b-investments-board-approves-orascom-financial-acquisition-bid\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/969.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"611924\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/b-investments-board-approves-orascom-financial-acquisition-bid\/969-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/969.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"969.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/969.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/969.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611923\" class=\"content-area-description single-story post-611923 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-b-investments tag-enterpriseam tag-financial-services tag-ma-watch tag-orascom-financial-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\/.9b15024b-6372-4db6-b494-54e54a6bdf1e.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>B Investments\u2019 move for Orascom Financial Holding MTO advances: <\/strong>B Investments\u2019 board of directors has approved a mandatory tender offer (MTO) to acquire up to 90% of Orascom Financial Holding (OFH) (c. 4.2 bn shares) via a share swap, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/968.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a> on Tuesday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The board agreed to an MTO swap ratio of one B Investments share to 56.76 OFH shares. To enable the swap, the board approved raising its issued share capital from EGP 800 mn to EGP 1.2 bn through the issuance of 75 mn shares at a par value EGP 5 per share. The board also put the share premium per share at EGP 20.22 to accommodate the share swap ratio.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next: <\/strong>B Investments has called for an extraordinary general meeting to approve the capital increase.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wrapped in two months?<\/strong> B Investments expects the acquisition to wrap in February after the Financial Regulatory Authority has given its blessing to the MTO, <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/4khjhjba\" style=\"\" rel=\"noopener\">Asharq Business<\/a> quoted the company\u2019s Chairman Hazem Barakat as saying. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We knew this was coming: <\/strong>B Investments had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e645d45-8b1e-4b12-b031-fddc5eb16c1a\" style=\"\" rel=\"noopener\">approved a plan<\/a> to submit the MTO back in June, but <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/947809e6-17d4-440a-aea1-3c60de7c3753\" style=\"\" rel=\"noopener\">requested<\/a> a deadline extension in September.<\/p>\n\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\/b-investments\/\">B Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-services\/\">financial services<\/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\/orascom-financial-holding\/\">Orascom Financial 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=\"611925\" 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=\"611925\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/raya-holding-to-up-its-stake-in-ostool-to-90\/\">\r\n                            Raya Holding to up its stake in Ostool to 90%                        <\/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\/14\/raya-holding-to-up-its-stake-in-ostool-to-90\/\" 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\/14\/raya-holding-to-up-its-stake-in-ostool-to-90\/')\">\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\/14\/raya-holding-to-up-its-stake-in-ostool-to-90\/\">\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 target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Raya Holding to up its stake in Ostool to 90%&url=https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/raya-holding-to-up-its-stake-in-ostool-to-90\/\">\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\/14\/raya-holding-to-up-its-stake-in-ostool-to-90\/&title=Raya Holding to up its stake in Ostool to 90%\">\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=Raya+Holding+to+up+its+stake+in+Ostool+to+90%25+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F14%2Fraya-holding-to-up-its-stake-in-ostool-to-90%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\/14\/raya-holding-to-up-its-stake-in-ostool-to-90\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/908.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"611926\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/raya-holding-to-up-its-stake-in-ostool-to-90\/908-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/908.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"908.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/908.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/908.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611925\" class=\"content-area-description single-story post-611925 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-egyptian-gulf-holding-for-financial-investments tag-enterpriseam tag-ma-watch tag-ostool 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\/.6fd82a4d-4656-40d5-a36f-5e08992219e1.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Ostool\u2019s largest shareholder is on track to become even larger:<\/strong> Raya Holding for Financial Investments has signed an agreement to purchase a 27.7% stake in its freight subsidiary <a target=\"_blank\" href=\"https:\/\/rayacorp.com\/business-lines\/ostool\/\" style=\"\" rel=\"noopener\">Ostool<\/a> from Egyptian Gulf Holding Financial Investments, EGBank\u2019s investment arm, Raya stated in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/905.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The acquisition would boost Raya\u2019s stake in Ostool to 90%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A change of plan:<\/strong> Raya had been on track <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/07d1fa29-9646-480c-90aa-e9195a588a47\" style=\"\" rel=\"noopener\">to sell<\/a> its 62.3% stake in Ostool to Paradigm Logistics last year, but the sale didn\u2019t go through because the buyer didn\u2019t transfer the funds within the required time, Raya Holding CFO Hossam Husseintold us yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why the 180?<\/strong> Ostool\u2019s solid performance in recent years is behind Raya\u2019s decision to up its stake, Hussein told us. Hussein declined to discuss the valuation at which the transaction would be executed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax:<\/strong> Raya\u2019s shares rose 3.4% to EGP 2.75 on the EGX yesterday.<\/p>\n\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\/egyptian-gulf-holding-for-financial-investments\/\">Egyptian Gulf Holding for Financial Investments<\/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\/ostool\/\">Ostool<\/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=\"611927\" 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=\"611927\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/gb-corps-drive-raises-egp-1-47-bn-in-fresh-securitization\/\">\r\n                            GB Corp\u2019s Drive raises EGP 1.47 bn in fresh securitization                        <\/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\/14\/gb-corps-drive-raises-egp-1-47-bn-in-fresh-securitization\/\" 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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The bond\u2019s three tranches were rated AA+, AA, and A by the Middle East Ratings and Investors Service (MERIS). This takes the total amount raised from the securitization market by Drive in December to almost EGP 3 bn after it closed a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b85a03de-14b6-464c-9264-d7aae9f7b0f7\" style=\"\" rel=\"noopener\">EGP 1.4 bn<\/a> issuance earlier in the month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where the money\u2019s going: <\/strong>The proceeds will help Drive improve its liquidity and support its capital structure, in line with the company\u2019s long-term growth strategy, the statement reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The buyers: <\/strong>The Arab African International Bank (AAIB) and Ahli United Bank were underwriters of the issuance. Al Baraka Bank and Bank ABC subscribed to the issuance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> CIB acted as financial advisor, transaction lead arranger and promoter, alongside the AAIB as the sale\u2019s custodian. Dreny & Partners was counsel and KPMG served as auditor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT-<\/strong> Companies have raised EGP 80.4 bn from securitization so far this year, up 77% from 2022, according to data tracked by Enterprise.<\/p>\n\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\/ahli-united-bank\/\">Ahli United Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arab-african-international-bank\/\">Arab African International Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dreny-partners\/\">Dreny &amp; Partners<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/drive-finance\/\">Drive Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-auto\/\">GB Auto<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-corp\/\">GB Corp<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kpmg\/\">KPMG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/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=\"611929\" 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=\"611929\">\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\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/israel-vows-to-continue-its-war-on-gaza-despite-overwhelming-international-opposition\/\">\r\n                            Israel vows to continue its war on Gaza despite overwhelming international opposition                        <\/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\/14\/israel-vows-to-continue-its-war-on-gaza-despite-overwhelming-international-opposition\/\" 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\/14\/israel-vows-to-continue-its-war-on-gaza-despite-overwhelming-international-opposition\/')\">\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\/14\/israel-vows-to-continue-its-war-on-gaza-despite-overwhelming-international-opposition\/\">\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 target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Israel vows to continue its war on Gaza despite overwhelming international 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href=\"https:\/\/api.whatsapp.com\/send?text=Israel+vows+to+continue+its+war+on+Gaza+despite+overwhelming+international+opposition+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F14%2Fisrael-vows-to-continue-its-war-on-gaza-despite-overwhelming-international-opposition%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\/14\/israel-vows-to-continue-its-war-on-gaza-despite-overwhelming-international-opposition\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/991.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"611930\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/israel-vows-to-continue-its-war-on-gaza-despite-overwhelming-international-opposition\/991-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/991.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"991.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/991.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/991.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611929\" class=\"content-area-description single-story post-611929 post type-post status-publish format-standard has-post-thumbnail hentry category-war-watch tag-diplomacy tag-enterpriseam tag-israel tag-israel-palestine-conflict tag-middle-east-politics tag-palestine tag-un tag-un-general-assembly 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\/.f5f6987d-489c-46db-b1a6-90defa953f86.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shocker: Israel doesn\u2019t plan on taking the UN General Assembly\u2019s advice:<\/strong> Israel <a target=\"_blank\" href=\"https:\/\/www.timesofisrael.com\/liveblog_entry\/fm-cohen-war-against-hamas-to-continue-with-or-without-international-support\/\" style=\"\" rel=\"noopener\">said<\/a> it will continue its war on Gaza \u201cwith or without international support,\u201d after more than three-quarters of the 193-member UN General Assembly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c5762675-dfd2-4cca-8a5a-3205a4e2501a\" style=\"\" rel=\"noopener\">called for<\/a> an immediate humanitarian ceasefire in a vote on Tuesday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel dealt heaviest military losses since October:<\/strong> Israel yesterday <a target=\"_blank\" href=\"https:\/\/www.timesofisrael.com\/ten-soldiers-including-two-senior-officers-killed-in-gaza-fighting-and-deadly-ambush\/\" style=\"\" rel=\"noopener\">reported<\/a> that Hamas fighters on Tuesday killed at least 10 Israeli soldiers \u2014 including two senior officers \u2014 in an attack in Gaza City, in what <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/un-demands-ceasefire-gaza-israel-us-show-increasing-divisions-2023-12-13\/\" style=\"\" rel=\"noopener\">Reuters<\/a> says is the highest daily death toll for the military since 31 October.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IDF might want to rethink its stated goals:<\/strong>\u201cIsrael doesn\u2019t seem to be anywhere near achieving its military objective,\u201d senior Israel analyst Mairav Zonszein <a target=\"_blank\" href=\"https:\/\/twitter.com\/MairavZ\/status\/1734906232664621226\" style=\"\" rel=\"noopener\">said on X<\/a>, referring to Tuesday\u2019s ambush.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The situation on the ground continues to deteriorate:<\/strong><\/p>\n<ul>\n<li><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MOHGaza1994\/posts\/pfbid02FBjLyY1T8xninge4NVTp5FwkVWAzXy8pKzcoat189stm8j3uG5xJrgkvfrNDCxBgl\" style=\"\" rel=\"noopener\">At least 18.6k Palestinians<\/a> have been killed since 7 October;<\/li>\n<li>Up to <a target=\"_blank\" href=\"https:\/\/www.unrwa.org\/resources\/reports\/unrwa-situation-report-51-situation-gaza-strip-and-west-bank-including-east-Jerusalem\" style=\"\" rel=\"noopener\">1.9 mn people<\/a> have been displaced;<\/li>\n<li><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/gaza-faces-public-health-disaster-un-humanitarian-office-says-2023-12-13\/\" style=\"\" rel=\"noopener\">Just 11 of Gaza\u2019s 36 hospitals<\/a> are partially functional;<\/li>\n<li>The World Health Organization (WHO) <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/gaza-faces-public-health-disaster-un-humanitarian-office-says-2023-12-13\/\" style=\"\" rel=\"noopener\">reported<\/a> a sharp rise in fast-spreading diseases; the Gaza Health Ministry reported 327k cases of infectious diseases.<\/li>\n<\/ul>\n\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\/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\/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\/un-general-assembly\/\">UN General Assembly<\/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=\"611931\" 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=\"611931\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/new-cabinet-spokesman\/\">\r\n                            Egyptian cabinet appoints new spokesperson                        <\/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\/14\/new-cabinet-spokesman\/\" target=\"_blank\">\n                    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           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\/14\/new-cabinet-spokesman\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/931.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"611932\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/new-cabinet-spokesman\/931-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/931.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"931.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/931.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/931.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611931\" class=\"content-area-description single-story post-611931 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam tag-mohamed-el-homsani tag-moves tag-sameh-el-kheshen 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\/.03999b96-820e-4a0a-8725-d5e9582eaf37.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cabinet has a new spokesperson:<\/strong><strong>Mohamed El Homsan<\/strong><strong>i<\/strong> has been appointed the Madbouly cabinet\u2019s new spokesperson, <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/34rcpv9f\" style=\"\" rel=\"noopener\">cabinet said<\/a> yesterday. Homsani enters the role after serving as the director of Arab League affairs at the Foreign Ministry and has previously been a part of diplomatic missions to the UN in New York, Zambia, and New Zealand.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A quick turnover: <\/strong>Homsani succeeds <strong>Sameh El Kheshen<\/strong>, who has been in the job for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7f3d36cd-1452-4790-9a97-3a12ff740c4a\" style=\"\" rel=\"noopener\">less<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7f3d36cd-1452-4790-9a97-3a12ff740c4a\" style=\"\" rel=\"noopener\">than three months<\/a>. El Kheshen is returning to the Foreign Ministry to take on an unspecified role.<\/p>\n\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\/mohamed-el-homsani\/\">Mohamed El Homsani<\/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\/sameh-el-kheshen\/\">Sameh El Kheshen<\/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=\"611933 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=\"611933\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/611933\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611933\" class=\"content-area-description single-story post-611933 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\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=\"611934\" 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=\"611934\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/as-the-vote-count-continues-theres-little-suspense-over-who-won-the-election-on-the-nations-talk-shows\/\">\r\n                            As the vote count continues, there\u2019s little suspense over who won the presidential election on Egypt\u2019s talk shows                        <\/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\/14\/as-the-vote-count-continues-theres-little-suspense-over-who-won-the-election-on-the-nations-talk-shows\/\" target=\"_blank\">\n                    Open in new 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          <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=As the vote count continues, there\u2019s little suspense over who won the election on the nation\u2019s talk shows&url=https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/as-the-vote-count-continues-theres-little-suspense-over-who-won-the-election-on-the-nations-talk-shows\/\">\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\/14\/as-the-vote-count-continues-theres-little-suspense-over-who-won-the-election-on-the-nations-talk-shows\/&title=As the vote count continues, there\u2019s little suspense over who won the election on the nation\u2019s talk shows\">\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=As+the+vote+count+continues%2C+there%E2%80%99s+little+suspense+over+who+won+the+election+on+the+nation%E2%80%99s+talk+shows+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F14%2Fas-the-vote-count-continues-theres-little-suspense-over-who-won-the-election-on-the-nations-talk-shows%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\/14\/as-the-vote-count-continues-theres-little-suspense-over-who-won-the-election-on-the-nations-talk-shows\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/992.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"611935\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/as-the-vote-count-continues-theres-little-suspense-over-who-won-the-election-on-the-nations-talk-shows\/992-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/992.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"992.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/992.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/992.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611934\" class=\"content-area-description single-story post-611934 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\/.fa4cd4a6-5c4d-4b6d-8232-5e293ce5142a.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 and ongoing vote count continued to occupy most of the time <\/strong><strong>on the airwaves last night<\/strong>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The talking heads aren\u2019t holding their breaths over the result: <\/strong>\u201cAlthough I can\u2019t officially say the result, it\u2019s become quite clear for everyone based on the preliminary results from polling stations,\u201d Al Hayah Al Youm\u2019s Mohamed Sherdy said (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=DObC2klG1VU\" style=\"\" rel=\"noopener\">watch, runtime: 4:54<\/a>). Meanwhile, Ala Mas\u2019ouleety\u2019s Ahmed Moussa covered the fierce competition between candidates Farid Zahran and Hazem Omar for (distant) second place, while ripping into the Wafd party for its candidate\u2019s expected poor performance (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=82cJUlyJQGE\" style=\"\" rel=\"noopener\">watch, runtime: 7:05<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A record turnout? <\/strong>Early indicators suggest that over 65% of eligible voters participated in the presidential elections, which would be the highest percentage in Egypt\u2019s history, Masaa DMC\u2019s Dina El Wakeel said (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=lSOle7U1QqI\" style=\"\" rel=\"noopener\">watch, runtime: 2:04<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The coverage of the war on Gaza began to ramp up again last night<\/strong> following Tuesday\u2019s UN General Assembly vote and US President Joe Biden\u2019s minor shift in tone with Israel. Ala Mas\u2019ouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=CTRuisklVmw\" style=\"\" rel=\"noopener\">watch, runtime: 11:10<\/a>), Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=rKsyqzi5OTQ\" style=\"\" rel=\"noopener\">watch, runtime: 1:22<\/a>), and Masaa DMC (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=wJp1ZROnZyI\" style=\"\" rel=\"noopener\">watch, runtime: 10:29<\/a>) all had coverage.<\/p>\n\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 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=\"611936\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n      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alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-lb3v2po\" data-v=\"4\" data-block-id=\"lb3v2po\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-lb3v2po-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-lb3v2po-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-apwh96g\" data-v=\"4\" data-block-id=\"apwh96g\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-apwh96g-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-apwh96g-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-fsu6ek3\" data-v=\"4\" data-block-id=\"fsu6ek3\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-fsu6ek3-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-fsu6ek3-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"611937\" 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=\"611937\">\r\n            \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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/a-slower-morning-in-the-foreign-press-amid-lull-in-election-gaza-news\/\">\r\n                            A slower morning in the foreign press amid lull in election, Gaza news                        <\/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\/14\/a-slower-morning-in-the-foreign-press-amid-lull-in-election-gaza-news\/\" 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\/14\/a-slower-morning-in-the-foreign-press-amid-lull-in-election-gaza-news\/')\">\n              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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\/14\/a-slower-morning-in-the-foreign-press-amid-lull-in-election-gaza-news\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/972.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"611938\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/a-slower-morning-in-the-foreign-press-amid-lull-in-election-gaza-news\/972-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/972.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"972.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/972.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/972.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611937\" class=\"content-area-description single-story post-611937 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-enterpriseam tag-tourism 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\/.9827000f-7520-4b00-ad18-ebeee9825847.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This morning in the foreign press:<\/strong> We\u2019ve hit a domestic news lull uncharacteristic of late, as authorities continue the vote count from this week\u2019s election and regional leaders work out their next steps as Israel angrily dismissed Tuesday\u2019s overwhelming UN General Assembly vote for a ceasefire in Gaza.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Getting attention this morning:<\/strong><\/p>\n<ul>\n<li><strong>Koshary, pyramids and a camel ride:<\/strong><a target=\"_blank\" href=\"https:\/\/www.cntraveler.com\/story\/ask-a-local-art-curators-cairo-guide\" style=\"\" rel=\"noopener\">Conde Nast Traveler<\/a> profiles Cairo\u2019s pharaonic sites, best restaurants, and cultural hotspots through the eyes of Art D'\u00c9gypte founder Nadine Abdel Ghaffar.<\/li>\n<li><strong>The struggles of women footballers: <\/strong>An archaic view and gendered view on football is getting in the way of the success of the women\u2019s game in Egypt, striking a sharp contrast with the men\u2019s team\u2019s stellar track record in African football. (<a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/football\/2023\/dec\/13\/egypt-womens-football-moving-the-goalposts\" style=\"\" rel=\"noopener\">Guardian<\/a>)<\/li>\n<\/ul>\n\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\/tourism\/\">tourism<\/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=\"611939\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"611940\" 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=\"611940\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/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\/14\/ades-holding-handed-10-year-contract-to-operate-suez-brownfields-plus-beltone-mortgage-majid-al-futtaim-sky-investments-egbank\/\">\r\n                            ADES Holding handed 10-year contract to operate Suez brownfields. PLUS: Beltone Mortgage, Majid Al Futtaim, Sky Investments, EGBank                        <\/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\/14\/ades-holding-handed-10-year-contract-to-operate-suez-brownfields-plus-beltone-mortgage-majid-al-futtaim-sky-investments-egbank\/\" 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\/14\/ades-holding-handed-10-year-contract-to-operate-suez-brownfields-plus-beltone-mortgage-majid-al-futtaim-sky-investments-egbank\/')\">\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\/14\/ades-holding-handed-10-year-contract-to-operate-suez-brownfields-plus-beltone-mortgage-majid-al-futtaim-sky-investments-egbank\/\">\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 target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=ADES Holding handed 10-year contract to operate Suez brownfields. PLUS: Beltone Mortgage, Majid Al Futtaim, Sky Investments, EGBank&url=https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/ades-holding-handed-10-year-contract-to-operate-suez-brownfields-plus-beltone-mortgage-majid-al-futtaim-sky-investments-egbank\/\">\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\/14\/ades-holding-handed-10-year-contract-to-operate-suez-brownfields-plus-beltone-mortgage-majid-al-futtaim-sky-investments-egbank\/&title=ADES Holding handed 10-year contract to operate Suez brownfields. PLUS: Beltone Mortgage, Majid Al Futtaim, Sky Investments, EGBank\">\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=ADES+Holding+handed+10-year+contract+to+operate+Suez+brownfields.+PLUS%3A+Beltone+Mortgage%2C+Majid+Al+Futtaim%2C+Sky+Investments%2C+EGBank+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F14%2Fades-holding-handed-10-year-contract-to-operate-suez-brownfields-plus-beltone-mortgage-majid-al-futtaim-sky-investments-egbank%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\/14\/ades-holding-handed-10-year-contract-to-operate-suez-brownfields-plus-beltone-mortgage-majid-al-futtaim-sky-investments-egbank\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/975.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"611941\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/ades-holding-handed-10-year-contract-to-operate-suez-brownfields-plus-beltone-mortgage-majid-al-futtaim-sky-investments-egbank\/975-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/975.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"975.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/975.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/975.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611940\" class=\"content-area-description single-story post-611940 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-ades-holding tag-also-on-our-radar tag-banque-misr tag-beltone-financial tag-debt tag-egyptian-general-petroleum-corporation tag-energy tag-enterpriseam tag-export-development-bank-of-egypt tag-financial-services tag-logistics tag-non-banking-financial-services tag-oil-and-gas tag-real-estate tag-sky-investments 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\/.9827000f-7520-4b00-ad18-ebeee9825847.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADES LANDS SUEZ BROWNFIELDS-<\/strong> A consortium led by the Saudi Public Investment Fund (PIF)-backed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/05d3ae64-de32-4e1c-96d0-f185c0e7cba0\" style=\"\" rel=\"noopener\">ADES Holding<\/a> was awarded a 10-year contract to operate and ramp up oil production at maturing fields operate by Suez Oil Company and Offshore Shukeir Oil Company. The contract, awarded by the Egyptian General Petroleum Corporation, can be extended for another 10 years. (<a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/893.pdf\" style=\"\" rel=\"noopener\">Company statement,<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/893.pdf\" style=\"\" rel=\"noopener\">pd<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/893.pdf\" style=\"\" rel=\"noopener\">f<\/a>)<\/p>\n<ul>\n<li><strong>Remember:<\/strong> Cairo-born ADES Holding raised USD 1.2 bn in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/05d3ae64-de32-4e1c-96d0-f185c0e7cba0\" style=\"\" rel=\"noopener\">an IPO<\/a> on the Saudi stock exchange in October.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BELTONE MORTGAGE CAPITAL RAISE- <\/strong>Beltone Mortgage Finance has substantially increased its issued capital from EGP 50 mn to EGP 1 bn and raised paid-up capital to EGP 500 mn. (<a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1000.pdf\" style=\"\" rel=\"noopener\">Company<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1000.pdf\" style=\"\" rel=\"noopener\">disclosure, pdf<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SKY INVESTMENTS TURNS TO BANQUE MISR FOR LOAN- <\/strong>Private investment company <a target=\"_blank\" href=\"https:\/\/sky-investments.com\/\" style=\"\" rel=\"noopener\">Sky Investments<\/a> is expected to have a request for a EGP 3 bn loan from Banque Misr approved before the end of the year. Other banks could pitch in a portion of the facility, which will be used to fund a real estate project in the Fifth Settlement. (<a target=\"_blank\" href=\"http:\/\/tinyurl.com\/282sx8va\" style=\"\" rel=\"noopener\">A<\/a><a target=\"_blank\" href=\"http:\/\/tinyurl.com\/282sx8va\" style=\"\" rel=\"noopener\">sharq Busin<\/a><a target=\"_blank\" href=\"http:\/\/tinyurl.com\/282sx8va\" style=\"\" rel=\"noopener\">ess<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AL FUTTAIM TO INVEST EGP 5.7 BN IN GROWTH HERE: <\/strong>Majid Al Futtaim Holding is set to invest EGP 2.2 bn to open 50 new branches of Carrefour in Egypt over the next two years, and another EGP 3.5 bn to open 144 branches of wholesale grocery store Supeco. (<a target=\"_blank\" href=\"http:\/\/tinyurl.com\/4zfzpcwn\" style=\"\" rel=\"noopener\">Al Borsa<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FRESH FUNDS FOR PORT DEVELOPMENT-<\/strong> The Export Development Bank (EBank) is leading a syndicate of banks that\u2019s putting together a medium-term EGP 2-bn loan for Abdel Salam El Feky Sons to finance the construction of a breakwater at the Alexandria Port and other projects. (<a target=\"_blank\" href=\"http:\/\/tinyurl.com\/yy8fynu4\" style=\"\" rel=\"noopener\">EBank statement<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TOUGHER PENALTIES FOR HARASSMENT: <\/strong>President Abdel Fattah El Sisi ratified <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9f8a988b-a718-47bf-99fb-85f0127eeea3\" style=\"\" rel=\"noopener\">amendments to the penal code<\/a> that toughen penalties for people found guilty of harassment in the workplace and on transport. (<a target=\"_blank\" href=\"http:\/\/tinyurl.com\/8ra9vsu8\" style=\"\" rel=\"noopener\">Youm7<\/a>)<\/p>\n\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\/ades-holding\/\">ADES Holding<\/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\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone-financial\/\">Beltone Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-general-petroleum-corporation\/\">Egyptian General Petroleum Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/export-development-bank-of-egypt\/\">Export Development Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sky-investments\/\">Sky Investments<\/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=\"611942\" 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=\"611942\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/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\/14\/dubai-is-setting-up-a-new-sovereign-wealth-fund\/\">\r\n 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data-image-title=\"982.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/982.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/982.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611942\" class=\"content-area-description single-story post-611942 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-dubai tag-enterpriseam tag-financial-markets tag-frontier-markets tag-institute-of-international-finance tag-planet-finance tag-uae 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\/.76147f11-d4b2-42bc-b54a-8d1cef28af14.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Dubai is getting a new SWF:<\/strong> Dubai is setting up a second multi-bn USD wealth fund to channel state wealth into strategic projects at home and abroad, state news agency <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/aq30u22-mohammed-bin-rashid-issues-law-forming-dubai\" style=\"\" rel=\"noopener\">Wam<\/a> reported Monday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The remit:<\/strong> Chaired by Sheikh Mohammed bin Rashid Al Maktoum, the Dubai Investment Fund will focus its investments in stocks, bonds and securities in local and international financial markets, and will have the power to set up investment funds and companies.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong><\/p><ul>\n<li><strong>Dubai already has one:<\/strong> TheInvestment Corporation of Dubai, which has USD 341 bn in assets.<\/li>\n<li><strong>It\u2019ll still be behind Abu Dhabi:<\/strong> Its neighbor has three sovereign wealth funds: ADQ, Abu Dhabi Investment Authority, and Mubadala, which together manage almost USD 1.5 tn in assets.<\/li>\n<\/ul><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>Frontier markets are facing a growing debt crisis:<\/strong> Debt levels of the 42 countries classified as \u201cfrontier markets\u201d by the Institute of International Finance (IIF) have doubled over the past decade, reaching a record USD 3.5 tn, writes <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/features\/2023-12-13\/debt-crisis-poorest-nations-owe-trillions-in-high-interest-rate-world?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The debt covers government, corporate, and household borrowing, with USD 200 bn due to be repaid next year.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Inflows are harder to come by: <\/strong>The US Federal Reserve <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0b3e70c0-d980-4d77-8747-62cc7b67828f\" style=\"\" rel=\"noopener\">is not expected to cut<\/a> interest rates until at least mid-2024, which has dampened investors\u2019 appetite for frontier-market debt. \u201cGlobal rates are considerably higher, and the incentive to invest in these markets is challenging when you can get 4% or 5% in US Treasuries,\u201d IIF Managing Director Sonja Gibbs said.<\/p><p><a target=\"_blank\" id=\"t.55adb86fd920f6a701b23901cb43cb32e91914df\" 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-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>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\">24,774<\/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\">+2.9% (YTD: +69,7%)<\/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\">11,401<\/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\">+0.1% (YTD: +8.8%)<\/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\">9,437<\/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: -7.6%)<\/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>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\">3,939<\/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: +18.1%)<\/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\">4,707<\/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\">+1.4% (YTD: +22.6%)<\/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\">7,548<\/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: +1.3%)<\/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>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\">4,530<\/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: +19.4%)<\/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>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 74.26<\/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\">+1.4%<\/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>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 2.35<\/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-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>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 2,042.10<\/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\">+2.5%<\/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>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 43,000<\/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\">+4.6% (YTD: +158.8%)<\/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 rose 2.9% at yesterday\u2019s close<\/strong> on turnover of EGP 4.3 bn (36.5% above the 90-day average). Local investors were net sellers. The index is up 69.7% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Mopco (+20.0%), Sidpec (+9.2%) and Abu Qir Fertilizers (+8.6%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Fawry (-1.5%), Egypt Kuwait Holding (-0.3%) and Credit Agricole (-0.2%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s green as far as the eye can see in Asia this morning <\/strong>(though the Nikkei has been flirting with the red just a bit) as traders continue the rally that started after the Fed\u2019s big interest rate signal yesterday. (We have coverage of that last bit above, in What We\u2019re Tracking Today.) Futures suggest markets in Western Europe and North America will follow suit later today. <\/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\/dubai\/\">Dubai<\/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\/frontier-markets\/\">frontier markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/institute-of-international-finance\/\">Institute of International Finance<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/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=\"611944\" 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=\"611944\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/my-morning-routine-mahmoud-riad\/\">\r\n                            My Morning Routine: Mahmoud Riad                        <\/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\/14\/my-morning-routine-mahmoud-riad\/\" 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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Speaking to us this week is Mahmoud Riad (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/mahmoud-m-m-riad-65560116\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), who leads <a target=\"_blank\" href=\"https:\/\/www.riadarchitecture.com\/\" style=\"\" rel=\"noopener\">Riad Architecture<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My name is Mahmoud Riad and I am an architect and the head of Riad Architecture<\/strong>, a three generation, 90-year old firm based in Cairo that is responsible for some of the city\u2019s most iconic modernist buildings, including the Arab League and the Nile Hilton. The firm was founded by my grandfather, Mahmoud Riad, and my brother and I are the third generation of architects after my father and uncle to run the business.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>At work I\u2019m <\/strong><strong>CEO<\/strong><strong>, business developer, and designer:<\/strong> My responsibility is to make sure that my team is all in place and effectively handling the tasks that are being delegated to them. I also run client communication and business development. At the same time I like to actually do the design myself with some projects. Usually, these are projects that I feel are significant to the office, like the Arab League building.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our projects: <\/strong>Currently, we\u2019re working on an extension project for the Arab League, a business park in Sodic West, and building several villas in Dallas, Texas. I have a dream that I want to buy all of Riad Architecture\u2019s Cairo buildings and restore them to their former glory because I\u2019ve been seeing a lot of them demolished or repurposed in a way that defeats the initial idea.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nearly a century of creation:<\/strong> My grandfather created a legacy of very grand buildings with spatial layouts that were neoclassical in style and had modern facades, while the second generation designed residential homes and offices in the brutalist style of the 1980s and Greco-Roman-, Mediterranean-style resorts on Egypt\u2019s coasts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019m trying to lead a different type of philosophy in architecture through my business: <\/strong>My ethos is one based on critical regionalism and phenomenology. We want to design for the spirit of a place, looking at it through a critical eye to try to understand the use of traditional architectural techniques or philosophies, asking why they are incorporated and how they have evolved. We try to push these in a different direction that could cater to today\u2019s zeitgeist and the spirit of the time. We also consider how an individual\u2019s sensory experience alters their perception of space. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That's what we're trying to do as the third generation:<\/strong> I can't really say that we're there yet, as a lot of our projects don't really fall under that umbrella, but we're trying slowly but surely to venture into this. If we have ten regular projects, we hope to have one that we feel can fall under that philosophical umbrella. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re seeing a growing trend in revitalizing Cairo\u2019s forgotten buildings:<\/strong> I believe that Cairo\u2019s architectural future is in adaptive reuse, like with all the work that\u2019s happening in Downtown and other metropolitan areas that have been forgotten or left behind. Cairo has a lot of leftover, unoccupied space, much of which is quite substantial and rich architecturally. Instead of tearing them down, repurposing them is a great alternative, but the firms face challenges in convincing investors, who see new builds as more profitable. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I wake up at 5am every morning to be at the gym between 6-8am<\/strong>, so that I can be at the office by 8:30am, reading Enterprise on the drive in. My day starts with checking in with the design team, after which I head to meetings, visit our sites or clients, and return to the office by 4pm where I stay until 7pm. Throughout the day, I take short breaks here and there, but the one constant in my day is work.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Routines make my day easier for me:<\/strong> I structure my time to fit in small breaks to motivate me when I need it, or meditate and listen to different mantras. It gives me a bit of a boost to make sure that I stay on track.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When I\u2019m not working, I really enjoy spending time in the sun or at the pool.<\/strong> We\u2019re currently in the middle of a work marathon, but before that I used to meet up with friends every weekend to venture off to different parts of Cairo and explore places we haven\u2019t seen before \u2014 most recently the Nilometer in Manial. My favorite space in Cairo would be a thin triangle in Sharia Al Mu\u2019izz, encompassing the Sabil and Kuttab of Ismail Pasha. The street appears to be one continuous wall until you start walking towards it and the street turns into a fork. It\u2019s a spot that I really like spatially.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The only movie that I\u2019ve seen that I really liked over the last year was Oppenheimer.<\/strong> I\u2019m a big fan of Christopher Nolan and the way he creates this male protagonist type struggling with inner turmoil and decisions they need to live with. I was also really drawn to Ted Lasso as a character, to me he is quite inspirational. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There are two pieces of advice that I stick to:<\/strong> When I was applying to study music, a friend of my father\u2019s told me, \u201calways go for gold, never settle for silver.\u201d The second is from J.D. Salinger\u2019s Catcher in the Rye, which says, \u201cThe mark of an immature man is someone who wants to die for his cause. The mark of a mature man is one who wants to live humbly for it.\u201d<\/p>\n\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\/mahmoud-riad\/\">Mahmoud Riad<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/riad-architecture\/\">Riad Architecture<\/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=\"611946\" 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\/14\/611946\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-611946\" class=\"content-area-description single-story post-611946 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>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>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 style=\"font-weight:400;\">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;\">1 January (Monday): Private-sector minimum wage to rise to EGP 3.5k.<\/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 style=\"font-weight:400;\">6 October (Sunday): Armed Forces Day.<\/span><\/p>\n\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>Carbon market in 1Q | M&#038;A + investment news | Fed pivot | \u201cHistoric\u201d climate pact | Another Gulf SWF.<\/p>\n","protected":false},"featured_media":611913,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-611912","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"236af4c4-2a00-4a3c-a38b-228fb6a47ab6","teaser":"Carbon market in 1Q | M&A + investment news | Fed pivot | \u201cHistoric\u201d climate pact | Another Gulf SWF.","photo_url":"https:\/\/ent.news\/2023\/12\/998.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Plenty of M&amp;A + investment news at home as Fed teases rate cuts in the new year - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, 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