{"id":612110,"date":"2023-12-18T00:00:00","date_gmt":"2023-12-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=612110"},"modified":"2025-12-17T02:44:10","modified_gmt":"2025-12-17T02:44:10","slug":"raya-it-looks-to-make-egx-debut-in-first-half-of-2024","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/raya-it-looks-to-make-egx-debut-in-first-half-of-2024\/","title":{"rendered":"Raya IT looks to make EGX debut in first half of 2024"},"content":{"rendered":"<section id=\"612112\" 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=\"612112\">\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\/18\/the-results-of-the-presidential-election-are-out-today\/\">\r\n                            The results of the presidential election are out today                        <\/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\/18\/the-results-of-the-presidential-election-are-out-today\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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data-attachment-id=\"612113\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/the-results-of-the-presidential-election-are-out-today\/1165-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1165.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1165.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1165.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1165.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612112\" class=\"content-area-description single-story post-612112 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-elections-2023 tag-enterpriseam 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\/.9985660f-d54a-4b8b-b886-fca94f317f87.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>Good morning, everyone. We\u2019ll know the results of the presidential election<\/strong> today \u2014 a little after 2pm CLT, to be precise, when the National Elections Authority holds a press conference. The authority announced the presser this past Friday and the State Information Service confirmed it overnight. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>President Abdel Fattah El Sisi is widely expected to take the majority of the vote<\/strong>, avoiding a runoff, according to the domestic press. The nation\u2019s talk show hosts have already taken to the airwaves to chew over prospects for a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a48ac77-0c93-4364-bc1f-c6abf5bea2ed\" style=\"\" rel=\"noopener\">post-election cabinet shuffle<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>ALSO TODAY: The IFC\u2019s S\u00e9rgio Pimenta landed in Cairo yesterday for a three-day visit. <\/strong>The Madbouly government\u2019s privatization program will be at the top of the agenda in his meetings with state officials, members of the private sector, and the IFC\u2019s local partners, according to state-owned daily <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yjsprp5f\" style=\"\" rel=\"noopener\">Al-Ahram<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IFC was recently <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ccf60aa3-abe9-4068-bfa8-8edb73995d9c\" style=\"\" rel=\"noopener\">named<\/a><\/strong><strong> a strategic advisor to the state asset sale program. <\/strong>Pimenta yesterday attended the Ministry of International Cooperation\u2019s launch of its new policy platform and <a target=\"_blank\" href=\"https:\/\/moic.gov.eg\/ar\/page\/annual-report-2023?fbclid=IwAR2EjnpQk3smTf5KfbFv4fkHwESBwUa3FXZHPkbAsDNzZkxj934ZbZtJuKQ\" style=\"\" rel=\"noopener\">2023 annual report<\/a>. The IFC has \u201cinvested and mobilized\u201d more than USD 3 bn in Egypt over the past five years, Pimena <a target=\"_blank\" href=\"https:\/\/x.com\/SPimentaIFC\/status\/1736287818396188848?s=20\" style=\"\" rel=\"noopener\">said on X<\/a>. It\u2019s his third visit here this year. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** We sat down with Pimenta back in March<\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6e36ef22-39ff-41b5-8d07-5045b9259689\" style=\"\" rel=\"noopener\">for a talk<\/a> about private-sector participation in the economy and the green transition. The IFC has invested in sectors including finance, climate, manufacturing, infrastructure, renewable energy, and healthcare.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MoIC also launched yesterday <\/strong><strong><a target=\"_blank\" href=\"https:\/\/privatesector.moic.gov.eg\/\" style=\"\" rel=\"noopener\">Hafiz<\/a><\/strong>, its <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MOICEgypt\/posts\/pfbid02VXNKeG9qi8hinVVrf3VA5RhsyiZEGuMZ9ufKHBoUphbn27Q2UBrj6ydN749VuMVSl\" style=\"\" rel=\"noopener\">new portal<\/a> for the private sector to explore areas where MOIC\u2019s partners can help execs grow their businesses. The platform will allow companies \u2014 including MSMEs and startups \u2014 to access 75 financial and non-financial services from international institutions and lenders. <a target=\"_blank\" href=\"https:\/\/moic.gov.eg\/ar\/news\/1272\" style=\"\" rel=\"noopener\">You can read about the new platform here<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- President Abdel Fattah El Sisi is in Kuwait<\/strong>, where he landed last night to offer his condolences for the loss of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a48ac77-0c93-4364-bc1f-c6abf5bea2ed\" style=\"\" rel=\"noopener\">late Kuwaiti Emir<\/a> Sheikh Nawaf Al Ahmad Al Sabah, according to a statement from <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/wu35w2mp\" style=\"\" rel=\"noopener\">Ittihadiya<\/a>. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PSA- The weather\u2019s about to get chilly <\/strong>as we tumble toward the first official day of winter, according to the <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/ema.gov.eg\/posts\/pfbid0Ltroif6tRUp6L9f4wSYGnmFva34ZdCfkNALQ7X4HNxP46oJyxAXz6UzJTMKvoQDwl\" style=\"\" rel=\"noopener\">Egyptian Meteorological Authority<\/a> (EMA). The national weather service says there\u2019s a likelihood of fog in low-lying areas today and a chance of rainfall later in the week. Our favourite weather app sees the mercury easing from a high of 24\u00b0C today to 20\u00b0C by the weekend. <\/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\"><a id=\"wwtt4\"><\/a> <strong>PLUS- It\u2019s the final day of GERD talks in Addis Ababa: <\/strong>Representatives from Egypt, Ethiopia, and Sudan are gathering for the final day of negotiations to break the deadlock over the Grand Ethiopian Renaissance Dam (GERD) and water rights to the Nile in the Ethiopian capital. This round of talks kicked off following an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a70fe3ef-254a-41e4-8335-5db25860d457\" style=\"\" rel=\"noopener\">agreement<\/a> between President Abdel Fattah El Sisi and Ethiopian Prime Minister Abiy Ahmed in July.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/uaeform.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/135.jpg?ssl=1\"><\/a> <\/p><p class=\"tag-border-left\">HAPPENING TOMORROW- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The House will be back in session <\/strong>after a one-month break. MPs are taking it easy for their first day back, with one item on their agenda: discuss and vote on a draft law to establish a syndicate for graduates of tech colleges and schools. MPs are also meeting on Wednesday to discuss and vote on a number of bills and presidential decrees.<\/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\"><strong>#1- The Central Bank of Egypt\u2019s Monetary Policy Committee will meet to set interest rates<\/strong>on Thursday. It\u2019s the last time this year the bank will review rates. Our <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/03f435f2-4022-4bfc-933a-8d47b02a1802\" style=\"\" rel=\"noopener\">customary analyst poll<\/a> sees the CBE holding rates steady for the third meeting in a row.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- You can catch the El Gouna Film Festival in Cairo:<\/strong> Downtown\u2019s Zawya cinema will <a target=\"_blank\" href=\"http:\/\/zawyacinema.com\/calendar\" style=\"\" rel=\"noopener\">screen<\/a> films from <a target=\"_blank\" href=\"https:\/\/elgounafilmfestival.com\/\" style=\"\" rel=\"noopener\">El Gouna Film Festival\u2019s<\/a> program throughout the week, as the GFF looks to reach a broader audience. <\/p><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=\"wwtt3\"><\/a>  <strong>It\u2019s business as usual at the Suez Canal: <\/strong>The Suez Canal Authority (SCA) \u201cis closely following the consequences on traffic in the canal of current tensions in the Red Sea,\u201d authority head Osama Rabie said in an SCA <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2yc6p3xj\" style=\"\" rel=\"noopener\">statement<\/a>. The flow of traffic in the waterway remains \u201cnormal,\u201d Rabie said, despite attacks by Yemen\u2019s Houthis on ships passing along the Red Sea having made headlines since Israel invaded Gaza. Only 55 vessels have so far diverted away from the Suez Canal since 19 November while over 2k have crossed as normal, Rabie added. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Four of the world\u2019s five largest shipping firms said this weekend they are <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7012e03f-8dda-4b2a-ae40-ba7144b132a8\" style=\"\" rel=\"noopener\">pausing Red Sea<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7012e03f-8dda-4b2a-ae40-ba7144b132a8\" style=\"\" rel=\"noopener\">transits<\/a>.<\/p><p class=\"tag-border-left\">TELECOM WATCH- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>Three bidders are said to be chasing Telecom Egypt\u2019s cell towers in what could be <\/strong><strong>a USD 250 mn sale. <\/strong>The UK\u2019s <a target=\"_blank\" href=\"https:\/\/www.ihstowers.com\/\" style=\"\" rel=\"noopener\">IHS Tower<\/a>, Mobi Tower, and <a target=\"_blank\" href=\"https:\/\/www.heliostowers.com\/\" style=\"\" rel=\"noopener\">Helios Towers<\/a> are competing to buy the majority of Telecom Egypt\u2019s cell towers in a sale and leaseback agreement that could be worth between USD 150-250 mn, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/12\/17\/1746747\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing sources it says have knowledge of the transaction. Telecom Egypt is looking to sell 2.5k of its 2.8k towers in an effort to conserve USD, according to Al Borsa. The three interested bidders are said to be doing due diligence ahead of making offers.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart: <\/strong>Sale and leaseback agreements on tower infrastructure are a common way for mobile network operators to channel cash back into core operations while outsourcing the headache of running infrastructure to specialized providers. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Better telecom services for compound residents?<\/strong> The National Telecommunications Regulatory Authority (NTRA) yesterday discussed a number of complaints filed by residential compounds residents who say they don\u2019t have enough choice of provider in certain areas. With operators still building out coverage in some districts, residents are complaining they\u2019re effectively \u201cforced\u201d to purchase service from whoever best serves their compound, even if they prefer another operator. The NTRA and Egyptian Competition Authority (ECA) discussed the complaints at a meeting yesterday with a number of unnamed real estate developers and telecom providers, NTRA said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1141.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n  <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>\n <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">DATA POINTS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Non-oil exports rose 5.3% y-o-y<\/strong> in the first 10 months of 2023 to USD 29.5 bn, driven by building materials and agricultural products, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/12\/17\/1746701\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Soft loans make up 16% of the nation\u2019s external debt<\/strong>, International Cooperation Minister Rania Al Mashat <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/12\/17\/1746599\" style=\"\" rel=\"noopener\">said<\/a> during a presser yesterday. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ff49ee89-5a9a-422b-a6d3-99cd78e21b65\" style=\"\" rel=\"noopener\">External debt<\/a> has quadrupled over the past decade, reaching a record high of USD 165.4 bn at the end of March due to increased borrowing from multilateral lenders and international debt markets.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>The government and private sector players received a combined USD 8.8 bn in external financing this year, a 36% y-o-y decrease, she <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/4ckpxwnd\" style=\"\" rel=\"noopener\">said<\/a>.<\/p><p class=\"tag-border-left\">SIGN OF THE TIMES-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Go green or don\u2019t go at all: <\/strong>The Canadian government will reportedly soon pass a new law requiring all vehicles sold by 2035 to be electric, Canada\u2019s <a target=\"_blank\" href=\"https:\/\/www.thestar.com\/autos\/canada-will-require-all-new-cars-to-be-zero-emissions-vehicles-by-2035\/article_c950d280-9b84-11ee-a6e3-27345595b216.html\" style=\"\" rel=\"noopener\">Toronto Star<\/a> reported. The new regulation requires that zero-emissions vehicles \u2014 electric, hydrogen, and plug-in vehicles \u2014 make up 20% of new car sales by 2026, 60% by 2030, and 100% by 2035. The regulation also aims to shorten the wait times for EVs, which have grown to hurt the appetite for EVs. <\/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>CORRECTION-<\/strong> Our story on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/133ec82b-3672-42ae-a0e5-01e39a9476dd\" style=\"\" rel=\"noopener\">OCI selling its entire 50% stake to Adnoc<\/a> incorrectly cited share price data from an Adnoc subsidiary that was not involved in the agreement. We have since corrected the story on our website.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing, we looked at how 2023 was a challenging year for industry, despite sector-wide optimism at the start of the year. You can check out the story in our PM edition <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea62bb08-42be-4db7-b511-1b568a366025\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2022\/10\/CIRA-Blackboard-Banner-B-1600.jpg\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue:<\/strong> We take a look at how education has adapted to macroeconomic headwinds and the rise of AI in 2023.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elections-2023\/\">Elections 2023<\/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=\"612114 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=\"612114\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/612114\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612114\" class=\"content-area-description single-story post-612114 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\/ads\/imgs\/137.jpg?ssl=1\"><\/a><\/span><\/p>\n<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=\"612115\" 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=\"612115\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/raya-it-aims-to-make-egx-debut-next-year\/\">\r\n                            Raya IT aims to make EGX debut in 1H 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 href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/raya-it-aims-to-make-egx-debut-next-year\/\" 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\/18\/raya-it-aims-to-make-egx-debut-next-year\/')\">\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\/18\/raya-it-aims-to-make-egx-debut-next-year\/\">\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 IT aims to make EGX debut next year&url=https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/raya-it-aims-to-make-egx-debut-next-year\/\">\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\/18\/raya-it-aims-to-make-egx-debut-next-year\/&title=Raya IT aims to make EGX debut next year\">\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+IT+aims+to+make+EGX+debut+next+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F18%2Fraya-it-aims-to-make-egx-debut-next-year%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\/18\/raya-it-aims-to-make-egx-debut-next-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1156.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612116\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/raya-it-aims-to-make-egx-debut-next-year\/1156-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1156.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1156.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1156.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1156.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612115\" class=\"content-area-description single-story post-612115 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-egx tag-enterpriseam tag-ipo-watch tag-raya-holding tag-raya-it 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\/.7b30186e-b94a-47ba-9faf-9b24cf3bfa04.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Raya IT is coming to the EGX<\/strong><strong>:<\/strong> Raya Holding plans to offer 30-35% of its IT arm Raya Information Technology on the EGX in 1H 2024, it said yesterday in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1079.pdf\" style=\"\" rel=\"noopener\">statement<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1079.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. The company has finished all of the necessary listing requirements and tapped our friends at EFG Hermes to quarterback the transaction. Raya Holding CFO Hossam Hussein told us that the company is not ready to talk about how much it hopes to raise from the take.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Raya Holding will maintain majority ownership of its IT unit<\/strong>, remaining \u201cthe main shareholder and manager of the company's future strategies and prospects,\u201d Hussein said. The company is penciling in 30% revenue growth for 2024 and will deliver a top line of more than EGP 5 bn this year. Raya IT accounted for about 21% of Raya Holding\u2019s total revenues in 9M 2023, by our math. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Transaction structure: <\/strong>The IPO could see investors offered the chance to buy a mix of both new shares via a capital increase as well as a secondary component. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Raya is actively screening for ways to grow: <\/strong>Raya IT has a lot of dry powder \u201cready for allocation to potential acquisitions and inorganic growth initiatives,\u201d the CFO said, explaining that the company is eyeing potential acquisitions that would \u201cadd value to its portfolio of services, especially in the IT outsourcing and technical system integration projects.\u201d The company also plans to ramp up sales in Saudi Arabia. It also operates in the UAE.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>R<\/strong><strong>aya has another IPO brewing:<\/strong> Raya Holding\u2019s non-banking financial services outfit, Aman Financial Services,is \u201cwaiting for the right time\u201d to go public, Hussein said, adding that the long-awaited IPO won\u2019t happen before 2H 2024. Aman had signaled it would <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6bafb238-9ada-4c08-9846-30e51c6203ef\" style=\"\" rel=\"noopener\">make its market debut<\/a> this year after its IPO plans were pushed back from 2022. <\/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\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya-it\/\">Raya IT<\/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=\"612117\" 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=\"612117\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/b-tech-closes-egp-1-bn-securitized-bond-issuance\/\">\r\n                            B.TECH closes EGP 1 bn securitized bond issuance                        <\/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\/18\/b-tech-closes-egp-1-bn-securitized-bond-issuance\/\" 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\/18\/b-tech-closes-egp-1-bn-securitized-bond-issuance\/')\">\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\/18\/b-tech-closes-egp-1-bn-securitized-bond-issuance\/\">\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.TECH closes EGP 1 bn securitized bond issuance&url=https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/b-tech-closes-egp-1-bn-securitized-bond-issuance\/\">\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\/18\/b-tech-closes-egp-1-bn-securitized-bond-issuance\/&title=B.TECH closes EGP 1 bn securitized bond issuance\">\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.TECH+closes+EGP+1+bn+securitized+bond+issuance+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F18%2Fb-tech-closes-egp-1-bn-securitized-bond-issuance%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\/18\/b-tech-closes-egp-1-bn-securitized-bond-issuance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1127.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612118\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/b-tech-closes-egp-1-bn-securitized-bond-issuance\/1127-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1127.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1127.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1127.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1127.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612117\" class=\"content-area-description single-story post-612117 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-b-tech tag-baker-tilly tag-cib tag-debt-watch tag-dreny-partners tag-enterpriseam tag-securitization 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\/.bf93a80d-06ec-4a47-b5c6-63dadfbf189f.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>B.TECH has closed an almost EGP 1 bn securitized bond issuance, <\/strong>according to a joint <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1118.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from the electronics retailer and our friends at CIB, who managed the issuance. The transaction, which is the second in a two-year, EGP 5 bn securitization program, included two tranches that were rated P1.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>B.TECH kicked off its EGP 5 bn program in January with an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7cac9639-2390-4801-9ed4-d76bdf283cb8\" style=\"\" rel=\"noopener\">EGP 1.04 bn<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7cac9639-2390-4801-9ed4-d76bdf283cb8\" style=\"\" rel=\"noopener\">three-tranche bond issuance<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s the money going? <\/strong>\u201cThe bond issuance will provide the needed cash liquidity to reinforce B.TECH\u2019s positioning as a market leader, cater to customers\u2019 needs, and capitalize on available investment opportunities,\u201d B.TECH CEO and Chairman Mahmoud Khattab said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** We sat down with Khattab last month for our <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f36cead5-2834-4f5a-83cb-a37375337857\" style=\"\" rel=\"noopener\">founder of the week column<\/a><\/strong><strong>. <\/strong>Khattab also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/22b78d62-86d0-4331-878e-0da58c84ce0a\" style=\"\" rel=\"noopener\">spoke with us in 2022<\/a> after Saudi Arabia\u2019s Public Investment Fund (PIF) acquired a 34% stake in B.TECH, buying it from private equity outfit DPI, <a target=\"_blank\" href=\"https:\/\/enterprise.press\/stories\/2016\/07\/24\/dpi-acquires-a-third-of-b-tech-for-usd-35-mn\/\" style=\"\" rel=\"noopener\">which invested in 2016<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who bought into the offering?<\/strong> SAIB Bank, Al Ahli Bank of Kuwait, aiBANK, and CI Capital subscribed to the issuance, while Ahli United Bank and Al Baraka Bank were underwriters.<\/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 the sole lead arranger, manager, and advisor. EG Bank acted as the custodian, Dreny &amp; Partners was counsel, and Baker Tilly acted 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><strong>-<\/strong> Companies have raised EGP 81.4 bn from securitization so far this year, up 79%from 2022, according to data tracked by Enterprise.<\/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\/b-tech\/\">B.TECH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/baker-tilly\/\">Baker Tilly<\/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\/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=\"612119\" 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=\"612119\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/pharma-delivery-platform-chefaa-raises-usd-5-3-mn\/\">\r\n                            Egypt-based pharma delivery Chefaa secures USD 5.3 mn in a funding round                        <\/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\/18\/pharma-delivery-platform-chefaa-raises-usd-5-3-mn\/\" 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\/18\/pharma-delivery-platform-chefaa-raises-usd-5-3-mn\/')\">\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\/18\/pharma-delivery-platform-chefaa-raises-usd-5-3-mn\/\">\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=Pharma delivery platform Chefaa raises USD 5.3 mn&url=https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/pharma-delivery-platform-chefaa-raises-usd-5-3-mn\/\">\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\/18\/pharma-delivery-platform-chefaa-raises-usd-5-3-mn\/&title=Pharma delivery platform Chefaa raises USD 5.3 mn\">\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=Pharma+delivery+platform+Chefaa+raises+USD+5.3+mn+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F18%2Fpharma-delivery-platform-chefaa-raises-usd-5-3-mn%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\/18\/pharma-delivery-platform-chefaa-raises-usd-5-3-mn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1137.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612120\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/pharma-delivery-platform-chefaa-raises-usd-5-3-mn\/1137-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1137.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1137.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1137.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1137.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612119\" class=\"content-area-description single-story post-612119 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-chefaa tag-pharma tag-startup-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\/.702e47fe-cc46-40a7-ab92-059e6c093a08.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Chefaa raises USD 5.3 mn from global investors:<\/strong> Egypt-based pharma delivery platform <a target=\"_blank\" href=\"https:\/\/chefaa.com\/eg-ar\/now\" style=\"\" rel=\"noopener\">Chefaa<\/a> raised USD 5.25 mn from a number of international investors, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1134.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> yesterday. The funding round was co-led by South African VC <a target=\"_blank\" href=\"https:\/\/www.newtownpartners.com\/\" style=\"\" rel=\"noopener\">Newtown Partners<\/a>, Japan-based <a target=\"_blank\" href=\"https:\/\/globalbrains.com\/en\/\" style=\"\" rel=\"noopener\">Global Brain<\/a> and <a target=\"_blank\" href=\"https:\/\/corporate.m3.com\/en\/corporate#about\" style=\"\" rel=\"noopener\">M3<\/a>, US investor <a target=\"_blank\" href=\"http:\/\/www.gmscap.com\/\" style=\"\" rel=\"noopener\">GMS Capital Partners<\/a>, and <a target=\"_blank\" href=\"https:\/\/vkav.vc\/\" style=\"\" rel=\"noopener\">Nigeria\u2019s Verod-Kepple Africa Ventures<\/a>, <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s the money going? <\/strong>The company will use the funds to \u201cscale all models designed to digitize the supply chain and empower industry stakeholders.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Chefaa:<\/strong> Founded in 2017, the woman-led startup wants to be a \u201cone-stop-health solution for an end-to-end healthcare experience.\u201d The platform facilitates the process of ordering, scheduling, and refilling recurring prescriptions. It currently operates across Egypt and eight Saudi cities, connecting over 1 mn users to 1.1k pharmacies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Investors Newtown Partners, Global Brain, and GMS Capital are no strangers to Chefaa, leading a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/25ba6890-ed88-4dbe-a335-25d0db5bdd15\" style=\"\" rel=\"noopener\">funding round<\/a> last year. The company closed a seven-figure USD <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/675d2226-af5f-4e3b-937a-8db93bec698f\" style=\"\" rel=\"noopener\">pre-series A round<\/a> in 2020, after raising a six-figure USD sum from Flat6Labs and 500 Startups in a <a target=\"_blank\" href=\"https:\/\/enterprise.press\/stories\/2019\/08\/14\/egypt-based-pharma-locator-chefaa-secures-six-figure-seed-round\/\" style=\"\" rel=\"noopener\">2019 seed round<\/a>. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/chefaa\/\">Chefaa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup 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=\"612121\" 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=\"612121\">\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\">A MESSAGE FROM HSBC<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/regional-airlines-on-the-ascent-thanks-to-digital-transformation\/\">\r\n                            Regional airlines are on the ascent thanks to digital transformation                        <\/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\/18\/regional-airlines-on-the-ascent-thanks-to-digital-transformation\/\" 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\/18\/regional-airlines-on-the-ascent-thanks-to-digital-transformation\/')\">\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\/18\/regional-airlines-on-the-ascent-thanks-to-digital-transformation\/\">\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=Regional airlines on the ascent thanks to digital transformation&url=https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/regional-airlines-on-the-ascent-thanks-to-digital-transformation\/\">\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\/18\/regional-airlines-on-the-ascent-thanks-to-digital-transformation\/&title=Regional airlines on the ascent thanks to digital transformation\">\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=Regional+airlines+on+the+ascent+thanks+to+digital+transformation+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F18%2Fregional-airlines-on-the-ascent-thanks-to-digital-transformation%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\/18\/regional-airlines-on-the-ascent-thanks-to-digital-transformation\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1100.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612122\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/regional-airlines-on-the-ascent-thanks-to-digital-transformation\/1100-jpeg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1100.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1100.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1100.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1100.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612121\" class=\"content-area-description single-story post-612121 post type-post status-publish format-standard has-post-thumbnail hentry category-a-message-from-hsbc tag-a-message-from-hsbc tag-aviation tag-enterpriseam tag-hsbc 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\/.f443cb04-fc14-454a-9585-270e5762c5a9.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The aviation industry across the Middle East is currently enjoying a surge in both <\/strong><strong>business and consumer traffic.<\/strong> Figures from the International Air Transport Association (IATA) show that Middle Eastern airlines have enjoyed a 30.8% increase in traffic compared to the same period last year. The regional industry is recovering and traffic is up on pre-pandemic levels.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There are various reasons for this boost: <\/strong>Airlines benefited from last year\u2019s FIFA World Cup tournament in Qatar, which saw numerous airlines running high volumes of shuttle flights leading to record financial results. They are also benefiting from a wider demand rebound, as passengers eagerly return to the skies after a prolonged period of being literally grounded.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An unexpected positive:<\/strong> The pandemic inadvertently also created an unexpected positive impact. Due to the inability of staff to travel and the surge in remote working, airlines were compelled to accelerate their digital transformation across all their operations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve seen this impact financing: <\/strong>This transformation has allowed airlines to embark on treasury improvement projects that automate complex processes, improve their payments functionality, and help digitize their reconciliations of receivables. HSBC has helped a number of our clients along this journey.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In technical terms we're seeing customers move from physical to virtual bank accounts.<\/strong> Having these accounts assigned for each of their relationships means that as soon as a payment has been received, they know exactly which vendor has made the payment. The airlines are also embracing the use of API (Application Programming Interface) platforms \u2014 the software that connects two different applications \u2014 so that they can get more real-time information on their balances and make real-time payments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One regional airline that has worked with HSBC is Jazeera Airways KSC,<\/strong> a Kuwaiti airline based at Kuwait International Airport. Jazeera has expanded passenger and cargo flight operations to 40 destinations and 15 countries in the Middle East, India and Europe. Prior to the pandemic, its treasury operations relied significantly on manual paper-based systems and multiple banking relationships, which led to data inconsistencies, human error, and a lack of scalability across multiple markets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Jazeera Airways turned to HSBC because we matched their geographic footprint while<\/strong><strong> also offering cutting-edge treasury solutions. <\/strong>This treasury transformation included a streamlined reconciliation of automated data that can be called and delivered via an API. We also delivered virtual accounts that can provide segregation of receivables across payers, as well as improved cash visibility and access to a liquidity management dashboard for enhanced views of currency balances across markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It is an example of a sudden challenge instigating the need for reform and<\/strong><strong> transformation.<\/strong> In this one area, Jazeera Airways has improved efficiency in a way that customers see. Their reduced frictions between platforms means customers need to log in to fewer platforms.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The increased automation and visibility reduces processing costs, eliminates duplication<\/strong><strong> of records, and increases the ability to facilitate electronic payments<\/strong>. So, for airlines like Jazeera, from the challenge of Covid came the opportunity of business improvement, which was felt across their business and industry. We\u2019re proud of what they have achieved and of our strong relationship.<\/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\/a-message-from-hsbc\/\">A MESSAGE FROM HSBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hsbc\/\">HSBC<\/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=\"612123\" 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=\"612123\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/pension-hikes-for-the-new-year\/\">\r\n                            Pension hikes for the new year                        <\/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\/18\/pension-hikes-for-the-new-year\/\" 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\/18\/pension-hikes-for-the-new-year\/')\">\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\/18\/pension-hikes-for-the-new-year\/\">\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=Pension hikes for the new year&url=https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/pension-hikes-for-the-new-year\/\">\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\/18\/pension-hikes-for-the-new-year\/&title=Pension hikes for the new year\">\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=Pension+hikes+for+the+new+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F18%2Fpension-hikes-for-the-new-year%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\/18\/pension-hikes-for-the-new-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1164.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612124\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/pension-hikes-for-the-new-year\/1164-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1164.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1164.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1164.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1164.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612123\" class=\"content-area-description single-story post-612123 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-social-welfare 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\/.0e48bdcb-d952-4f5b-b71f-04239ffe32ba.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>New year, higher pension payouts: <\/strong>The base wage used to calculate national ins. contributions for public and private sector workers will be raised to a minimum of EGP 2k and a maximum of 12.6k EGP as of 1 January 2024, according to a statement from <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3b3977py\" style=\"\" rel=\"noopener\">the National Social Ins. Authority<\/a>. The hike comes in line with a plan laid out in the 2019 Pension Act to gradually increase national pensions by an average of 15% every year until 2027. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New pensioners will also get a raise: <\/strong>The government will increase the minimum pension payout for civil servants who will go into retirement starting next year to EGP 1.3k from the current EGP 1.1k. It is also raising the pension ceiling by 16% to EGP 10.1k.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>According to the Pension Act, private sector employees pay 11% of their subscription wage as a national ins. contribution, while the employer pays an additional 18.75% for each employee.<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/social-welfare\/\">social welfare<\/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=\"612125\" 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=\"612125\">\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\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/israel-and-hamas-disagree-over-how-a-renewed-ceasefire-should-be-implemented\/\">\r\n                            Israel and Hamas disagree over how a renewed ceasefire should be implemented                        <\/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\/18\/israel-and-hamas-disagree-over-how-a-renewed-ceasefire-should-be-implemented\/\" 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\/18\/israel-and-hamas-disagree-over-how-a-renewed-ceasefire-should-be-implemented\/')\">\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\/18\/israel-and-hamas-disagree-over-how-a-renewed-ceasefire-should-be-implemented\/\">\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 and Hamas disagree over how a renewed ceasefire should be implemented&url=https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/israel-and-hamas-disagree-over-how-a-renewed-ceasefire-should-be-implemented\/\">\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\/18\/israel-and-hamas-disagree-over-how-a-renewed-ceasefire-should-be-implemented\/&title=Israel and Hamas disagree over how a renewed ceasefire should be implemented\">\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=Israel+and+Hamas+disagree+over+how+a+renewed+ceasefire+should+be+implemented+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F18%2Fisrael-and-hamas-disagree-over-how-a-renewed-ceasefire-should-be-implemented%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\/18\/israel-and-hamas-disagree-over-how-a-renewed-ceasefire-should-be-implemented\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1161.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612126\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/israel-and-hamas-disagree-over-how-a-renewed-ceasefire-should-be-implemented\/1161-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1161.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1161.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1161.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1161.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612125\" class=\"content-area-description single-story post-612125 post type-post status-publish format-standard has-post-thumbnail hentry category-war-watch tag-enterpriseam tag-israel tag-israel-palestine-conflict tag-middle-east-politics tag-palestine 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\/.11fa5a93-0d0f-4305-b230-36e0df15184d.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel and Hamas, although open to renewing the ceasefire, don\u2019t see eye to eye on how <\/strong><strong>it should be implemented<\/strong>, two <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/egyptian-sources-say-israel-hamas-open-ceasefire-disagreements-remain-2023-12-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Hamas wants a complete ceasefire before it starts to release any hostages. It also wants Israeli forces to withdraw behind certain lines and would unilaterally decide on the list of hostages to be released. Israel refused to withdraw its forces, but agreed on Hamas setting the hostage list. Israel said it will determine the time and duration of the ceasefire after seeing the list. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>QUICK UPDATES- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- More calls for ceasefire: <\/strong>The UK, Germany, and France all <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f0413c15-becf-4b7a-a4b6-f7c230f9a0a1\" style=\"\" rel=\"noopener\">stepped up<\/a> calls for a ceasefire in Gaza, adding to the pressure on Israel from its Western allies. The foreign ministers of Britain and Germany called for a \u201csustainable ceasefire\u201d in a joint <a target=\"_blank\" href=\"https:\/\/www.thetimes.co.uk\/article\/david-cameron-gaza-ceasefire-israel-palestine-war-s50x2kscw\" style=\"\" rel=\"noopener\">Sunday Times op-ed<\/a>, while the French foreign minister also called for a \u201cnew humanitarian truce\u201d that should eventually lead to a full ceasefire.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- More aid enters: <\/strong>Some 79 aid trucks <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/aid-enters-gaza-through-israels-kerem-shalom-crossing-first-time-war-2023-12-17\/\" style=\"\" rel=\"noopener\">entered Gaza<\/a> through the newly-opened Kerem Shalom crossing yesterday. The Israeli government temporarily opened the crossing to ensure that 200 aid trucks enter Gaza every day, a number the Rafah crossing alone cannot accommodate. Still, the aid entering Gaza <a target=\"_blank\" href=\"https:\/\/twitter.com\/PalestineRCS\/status\/1736415455844200450\" style=\"\" rel=\"noopener\">doesn\u2019t even meet 10%<\/a> of the population\u2019s needs. <\/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\/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\/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=\"612127\" 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=\"612127\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/20-new-ambassadors-present-their-credentials-to-sisi\/\">\r\n                            Sisi receives credentials of 20 new ambassadors to Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/20-new-ambassadors-present-their-credentials-to-sisi\/\" 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\/18\/20-new-ambassadors-present-their-credentials-to-sisi\/')\">\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\/18\/20-new-ambassadors-present-their-credentials-to-sisi\/\">\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=20 new ambassadors present their credentials to Sisi&url=https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/20-new-ambassadors-present-their-credentials-to-sisi\/\">\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\/18\/20-new-ambassadors-present-their-credentials-to-sisi\/&title=20 new ambassadors present their credentials to Sisi\">\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=20+new+ambassadors+present+their+credentials+to+Sisi+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F18%2F20-new-ambassadors-present-their-credentials-to-sisi%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\/18\/20-new-ambassadors-present-their-credentials-to-sisi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1157.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612128\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/20-new-ambassadors-present-their-credentials-to-sisi\/1157-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1157.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1157.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1157.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1157.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612127\" class=\"content-area-description single-story post-612127 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-adcb-egypt tag-diplomacy tag-enterpriseam tag-moves tag-turkey 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\/.3e508725-5055-442d-8570-c210bc35b720.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Twenty new ambassadors to Egypt:<\/strong> President Abdel Fattah El Sisi received the credentials of 20 new ambassadors to Egypt yesterday, marking the official start of their tenures, according to an Ittihadiya <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/23h924na\" style=\"\" rel=\"noopener\">statement<\/a>. Among the newcomers:<\/p>\n<ul>\n<li><strong>Turkey <\/strong>\u2014 <a target=\"_blank\" href=\"https:\/\/twitter.com\/TurkishCairoAmb?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor\" style=\"\" rel=\"noopener\">Salih Mutlu \u015een<\/a> <\/li>\n<li><strong>Qatar <\/strong>\u2014 <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/tariq-al-ansari-71b58951?originalSubdomain=qa\" style=\"\" rel=\"noopener\">Tariq Ali Faraj Al Ansari<\/a> <\/li>\n<li><strong>The Netherlands<\/strong> \u2014 <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/peter-mollema-78496221\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">Peter Mollema<\/a> <\/li>\n<li><strong>Yemen <\/strong>\u2014 <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Khaled.Mahfoudh.Bahah\/\" style=\"\" rel=\"noopener\">Khaled Mahfoudh Bahah<\/a> <\/li>\n<li><strong>Algeria <\/strong>\u2014 Abdelaziz ben Ali Al Sharif<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Egypt and Turkey <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/467e7c7c-3c5e-45ce-bc81-70050a95fabf\" style=\"\" rel=\"noopener\">reappointed ambassadors<\/a> earlier this year for the first time in 10 years after restoring full diplomatic ties. Amr Elhamamy is serving as Cairo\u2019s ambassador in Ankara. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- ADCB appoints new digital transformation head: <\/strong>Abu Dhabi Commercial Bank (ADCB) Egypt has appointed Ahmed Adel Mansour (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ahmedamansour\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as the head of digital transformation and banking services development, Mansour said in a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7142102347542953984\/\" style=\"\" rel=\"noopener\">LinkedIn post<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/adcb-egypt\/\">ADCB Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/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=\"612129 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=\"612129\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/612129\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612129\" class=\"content-area-description single-story post-612129 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/415.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"612130\" 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=\"612130\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/on-onions-and-the-suez-canal\/\">\r\n                            On onions and the Suez Canal                        <\/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\/18\/on-onions-and-the-suez-canal\/\" 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\/18\/on-onions-and-the-suez-canal\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" 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the Suez Canal\">\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=On+onions+and+the+Suez+Canal+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F18%2Fon-onions-and-the-suez-canal%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\/18\/on-onions-and-the-suez-canal\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1163.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612131\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/18\/on-onions-and-the-suez-canal\/1163-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1163.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1163.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1163.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1163.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612130\" class=\"content-area-description single-story post-612130 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-commodities tag-enterpriseam tag-last-nights-talk-shows tag-osama-rabie tag-suez-canal-authority 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\/.5705902b-97a8-4876-ae55-1ea9ee0a491d.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The nation\u2019s talking heads are concerned <\/strong>about onion prices and how the Suez Canal is coping amid growing tensions in the Red Sea. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ff93b332-8eaf-4fbf-a8f8-1f25d5429e0b\" style=\"\" rel=\"noopener\">commodity crisis<\/a><\/strong><strong> at a time, please. <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4915563f-21b9-4a89-8e3e-3ebe64b766ad\" style=\"\" rel=\"noopener\">Onion prices<\/a> have seen a dramatic jump in prices over the past few weeks, which saw it jump to EGP 40 per kilo from EGP 28 per kilo at the beginning of the month, but supply shortages are not to blame, the Agriculture Ministry\u2019s Mahmoud Atta told Kelma Akhira\u2019s Lamees El Hadidi (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=GYN7D9uEAp0\" style=\"\" rel=\"noopener\">watch, runtime: 3:39<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Blame the wholesalers: <\/strong>\u201cThere is no crisis in the production of the goods themselves \u2014 the problem stems from traders hoarding the goods and selling them at higher prices,\u201d he said. The Agriculture Ministry found 31k tons of hoarded onions in two areas in Giza, the ministry's Mamdouh Sibai told Ala Mas\u2019ouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=AvWHjjmMR-M\" style=\"\" rel=\"noopener\">watch, runtime: 16:06<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Potatoes may be next: <\/strong>El Hadidi said that it looks like potatoes may be next in line and see an unusual surge in prices, calling on officials to tackle the problem before it even starts (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=zOUMEkWyQXs\" style=\"\" rel=\"noopener\">watch, runtime: 0:25<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ELSEWHERE ON THE AIRWAVES- Suez Canal Authority (SCA) head Osama Rabie made <\/strong><strong>the rounds<\/strong> to address concerns over the Suez Canal\u2019s operations amidst brewing tensions in the Red Sea.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Don\u2019t sweat Suez Canal revenues just yet: <\/strong>\u201cThe earnings from the Suez Canal are not in danger. The canal is still the safest and shortest way for vessels moving north or south,\u201d he said during a phone-in with Ala Mas\u2019ouleety\u2019s Ahmed Moussa (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=SXtimZFNQto\" style=\"\" rel=\"noopener\">watch, runtime: 3:02<\/a>). \u201cJust 2% of vessels have halted shipments through the Suez Canal. Vessels are still crossing the canal at higher-than-average rates,\u201d Rabie told El Hadidi (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=N2fQ1Yt-vxU\" style=\"\" rel=\"noopener\">watch, runtime: 13:57<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also giving the story some airtime: <\/strong>Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=585ZwHZYlAY\" style=\"\" rel=\"noopener\">watch, runtime: 2:14<\/a>), El Hekaya (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=rl8gUkq2a2E\" style=\"\" rel=\"noopener\">watch, runtime: 2:08<\/a>), and Masa\u2019a DMC (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=378037271353742\" style=\"\" rel=\"noopener\">watch, runtime: 9:15<\/a>). <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/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\/osama-rabie\/\">Osama Rabie<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-authority\/\">Suez Canal Authority<\/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=\"612132\" 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 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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                <\/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-1iku1u2\" data-v=\"4\" data-block-id=\"1iku1u2\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-1iku1u2-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-1iku1u2-inner-blocks\">\r\n            <div 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stk-block-column__content stk-container stk-y8jw5qq-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-y8jw5qq-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-jo91dev\" data-v=\"4\" data-block-id=\"jo91dev\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-jo91dev-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-jo91dev-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                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   <div class=\"index-number\">10<\/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\/18\/egytrans-saudi-edition-plus-news-from-adib-egyptalum-bostana\/\">\r\n                            Egytrans (Saudi Edition). PLUS: News from ADIB, EgyptAlum, Bostana                        <\/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\/18\/egytrans-saudi-edition-plus-news-from-adib-egyptalum-bostana\/\" 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\/18\/egytrans-saudi-edition-plus-news-from-adib-egyptalum-bostana\/')\">\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\/18\/egytrans-saudi-edition-plus-news-from-adib-egyptalum-bostana\/\">\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=Egytrans (Saudi Edition). 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The new entity will have initial capital of SAR 500k. (<a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1085.pdf\" style=\"\" rel=\"noopener\">EGX disclosure, pdf<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>NO UAE MONEY FOR EGYPTALUM?<\/strong><a target=\"_blank\" href=\"https:\/\/www.egyptalum.com.eg\/\" style=\"\" rel=\"noopener\">Egypt Aluminium<\/a> (EgyptAlum)has denied knowledge of an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5399dbfd-9ef8-4351-8cf6-41940a9b7896\" style=\"\" rel=\"noopener\">agreement<\/a> that would see <a target=\"_blank\" href=\"https:\/\/www.ega.ae\/en\" style=\"\" rel=\"noopener\">Emirates Global Aluminium<\/a> (EGA) invest an undisclosed amount in the EGX-listed aluminum player. An <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/txt54my2\" style=\"\" rel=\"noopener\">Al Borsa<\/a> report earlier this week claimed that the investment would be finalized before the end of 1Q 2024. (<a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1086.pdf\" style=\"\" rel=\"noopener\">EGX<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1086.pdf\" style=\"\" rel=\"noopener\">disclosure<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1086.pdf\" style=\"\" rel=\"noopener\">, pdf<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>NEW BOSTANA FACTORY: <\/strong>Frozen fruit and vegetable manufacturer <a target=\"_blank\" href=\"https:\/\/www.bostana.com\/\" style=\"\" rel=\"noopener\">Bostana<\/a> wants to build an EGP 100 mn factory in 6th of October in an effort to increase production capacity and boost exports. The factory should be operational by 2025. (<a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/12\/17\/1746120\" style=\"\" rel=\"noopener\">Al Borsa<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADIB WANTS FULL OWNERSHIP OF CNIS: <\/strong>Abu Dhabi Islamic Bank (ADIB) Egypt will submit a mandatory tender offer to up its stake in subsidiary <a target=\"_blank\" href=\"https:\/\/www.caironational.org\/\" style=\"\" rel=\"noopener\">Cairo National Company Investment and Securities<\/a> (CNIS) to up to 100% from 90%, after its board approved the move. ADIB is looking to buy all of the freely traded shares in its investment subsidiary for EGP 10.5 a share before voluntary delisting CNIS from the EGX. (<a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1083.pdf\" style=\"\" rel=\"noopener\">EGX disclosure, pdf<\/a>)<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-dhabi-islamic-bank\/\">Abu Dhabi Islamic Bank<\/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\/bostana\/\">Bostana<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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<\/a>\r\n\r\n                \n<article id=\"post-612136\" class=\"content-area-description single-story post-612136 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-green-economy tag-planet-finance tag-wall-street 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\/.82fd9b9c-6c52-451f-8ef5-006da6e561cf.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New capital requirements on Wall Street will rock the green finance boat:<\/strong> Basel 3 Endgame \u2014 the final stage of regulations imposed in the US after the 2008 financial crisis \u2014 is expected to significantly affect Wall Street\u2019s biggest banks\u2019 ability to finance green projects, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-17\/wall-street-says-basel-3-endgame-will-hurt-climate-finance?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> wrote. The regulations will increase capital requirements, making it more expensive for banks to provide finance \u2014 \u201cfundamentally alter[ing]\u201d their approach to risk and affect their ability to allocate funds to green projects. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US\u2019 biggest banks aren\u2019t happy: <\/strong>JP Morgan alleges that the new rules would \u201cfor sure\u201d affect its green projects financing, while Goldman Sachs CEO David Solomon warned that the new regulations would push the capital requirements for some of its green energy products to \u201cquadruple.\u201d Citigroup Vice Chairman of Banking, Capital Markets and Advisory Jay Collins also chimed in on the topic in an interview cited by Bloomberg, claiming that \u201cas long as there is so much policy noise and regulatory fog, the multifold increase in climate investment won\u2019t happen.\u201d<\/p><p><a target=\"_blank\" id=\"t.fabb4dc8adc2ce0970e964a791a8cc80b2339aa0\" 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\">24,792<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +69.8%)<\/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\">11,601<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +10.7%)<\/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>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\">9,498<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: -7.0%)<\/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\">4,001<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +20.0%)<\/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>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\">4,719<\/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\">0.0% (YTD: +22.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">7,576<\/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\">-1.0% (YTD: +1.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,549<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +19.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 76.92<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5%<\/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 2.50<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3%<\/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>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 2,036<\/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\">0.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 40,956<\/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\">-2.7% (YTD: +150.1%)<\/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 0.3% at yesterday\u2019s close<\/strong> on turnover of EGP 2.8 bn (11.9% below the 90-day average). Local investors were net buyers. The index is up 69.8% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>ADIB (+7.8%), Juhayna (+5.9%) and Orascom Development (+4.2%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Elsewedy Electric (-2.1%), E-Finance (-2.1%) and Sidpec (-1.9%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are in the red this morning in what <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/12\/18\/asia-markets.html\" style=\"\" rel=\"noopener\">CNBC<\/a><\/strong><strong> says is traders \u201ctaking a breather\u201d<\/strong> in the next-to-last trading week of 2023. Europe looks set to follow suit, while futures suggest Wall Street could build on last week\u2019s rally by opening the week in the green.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/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\/wall-street\/\">Wall Street<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"612138\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">12<\/div>\r\n\r\n                        <p class=\"f-graphik\">BLACKBOARD<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/education-in-2023-adapting-to-ai-and-macroeconomic-headwinds\/\">\r\n                            Education in 2023: Adapting to AI and macroeconomic headwinds<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/education-in-2023-adapting-to-ai-and-macroeconomic-headwinds\/\" 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 education sector has also been adapting over the past months to the advent of new technology (specifically generative AI), while digitization and tech have penetrated other corners of the sector. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tight caps on private school fees didn\u2019t budge:<\/strong> Ahead of the current school year, the government tightened <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2de40628-d658-4201-8dcb-37aaf20fc6f0\" style=\"\" rel=\"noopener\">restrictions on fee rises<\/a> for high-end international private schools, barring schools that charge EGP 35k and above from raising fees by more than 6%. This was bad news for schools, which are grappling with a perfect storm of inflation, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3de9a56b-909f-4ec5-860d-e1533c588c13\" style=\"\" rel=\"noopener\">soaring land prices<\/a>, and USD-denominated costs including salaries and online tools. Some schools hiked <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/86fdb915-4ed6-4d9d-84ac-6c202fc2fec9\" style=\"\" rel=\"noopener\">fees outside of tuition<\/a>, while others have reportedly been using a loophole in the system, reporting higher tuition fees than they actually charge, to give themselves leeway to raise fees when they need to. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But non-banking financial sectors have <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/238d5d34-9c31-4e87-8ef4-7b278735cab6\" style=\"\" rel=\"noopener\">come to the rescue<\/a><\/strong><strong> of many parents<\/strong>, offering more funding solutions such as tuition loans and low-interest bridge loans that allow parents to pay in installments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the higher education front, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/33ea024c-048a-4d04-b169-03ebd9bd62d0\" style=\"\" rel=\"noopener\">private universities have also left fees unchanged<\/a><\/strong>for the 2023-24 academic year, with some institutions also offering scholarship and grant programs to students as the country continues to grapple with the challenging macroeconomic climate. Tuition fees at private universities are set independently, but guidelines are set to avoid drastic fee hikes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New schools are a-building (just not as many): <\/strong>Less than two weeks into the year, education investment JV Al Ahly CIRA partnered with the Canadian Seneca College to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/da61dec1-9efd-4b49-b7a3-9d1fe93592a7\" style=\"\" rel=\"noopener\">open schools<\/a> in both East and West Cairo. Also in January, the Egyptian Education Platform announced that a GEMS Education-branded British school <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b369a4b9-00e4-4e51-9db1-5dc80880412f\" style=\"\" rel=\"noopener\">will open in Palm Hills Developments\u2019 Badya<\/a>, becoming the first school in the West Cairo compound. Nevertheless, constraints caused by the macroeconomic climate have <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eadf78ad-b28a-4f93-b80a-9c16b9870288\" style=\"\" rel=\"noopener\">caused a slowdown<\/a> in plans to build new private schools, primarily as a result of the tailspin the construction industry has been sent into as a result of the soaring cost and shortage of building materials.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the government policy + spending side:<\/strong> The government\u2019s FY 2023-24 budget saw education, higher education, and scientific research spending accounting for 23.1% of the EGP 3 tn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bb3efe5a-ac5f-4746-b6f7-a60377ea66d7\" style=\"\" rel=\"noopener\">planned for spending<\/a> throughout the year. The focus is on plugging teacher shortages, education infrastructure, and tech. Meanwhile, the Higher Education Ministry\u2019s Supreme Council of Private Universities made <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/680b4dde-5aa2-4baf-8957-b2582c51ce07\" style=\"\" rel=\"noopener\">official its decision to scrap<\/a> the centralized admissions platform that imposed a Tansik-style system for private and nonprofit universities, two years after it introduced the platform.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This year was marked by the rise of generative AI as an accessible tool<\/strong>, which had a tangible effect on the education landscape. While policies to regulate the use of AI have started to be codified in schools abroad, Egypt is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/832f2f16-0c79-4f0c-a34d-9624f1149e75\" style=\"\" rel=\"noopener\">slow to catch up<\/a> in that regard. So far, schools are <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44389649-4d17-4f9d-9bbf-201de53053a3\" style=\"\" rel=\"noopener\">prioritizing raising awareness<\/a> to offset the risks of using AI, whether in terms of privacy and cybersecurity or academic integrity. Comprehensive evaluation schemes \u2014 including a comeback for on-the-spot and oral work \u2014 are being used to avoid excessive student reliance on AI tools. Nevertheless, there seems to be consensus among teachers that a blanket ban is neither practical nor probable.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>With the advent of AI, e-learning platforms have <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6a7a26e8-76fe-4c64-b7e5-c25e38a37d1a\" style=\"\" rel=\"noopener\">remained a staple<\/a><\/strong><strong> despite the arguable <\/strong><strong>slowdown of the covid-19 digital learning boom.<\/strong> Schools\u2019 use of learning management systems like Google Classroom, Seesaw, and Class Dojo has been growing, as has demand for local e-learning apps like Orcas, Madrasty, and even household names like Aladwaa and Selah El Telmeez, which have gone digital. These technologies are designed to supplement what schools offer by providing more tailored and individualized learning approaches.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Digital payment for education is also <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/54c2e47f-5c53-406c-a251-08ae1de443f0\" style=\"\" rel=\"noopener\">on the rise<\/a><\/strong>, with fintech startups like Klickit and Spare leading the way in the field, making it easier for parents to complete school-related transactions digitally. While more common in private and international schools, this trend has also reached public schools.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s a ton of public-private partnership activity in the sector:<\/strong> The Sovereign Fund of Egypt (SFE) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/47d072c6-9580-4f66-b248-7253c93bdd4a\" style=\"\" rel=\"noopener\">inaugurated four schools<\/a> as part of the first phase of the Cosmic Village development project in November. The schools were set up under private-public partnerships between the SFE and private players in the education sector. The SFE also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3ea232ea-0936-4231-a582-702e0638f2f5\" style=\"\" rel=\"noopener\">inked a partnership contract<\/a> with educational services company Tanweer for the establishment of the first phase\u2019s fifth school. The Education Ministry also has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4b3ac715-35a7-41d9-a853-6b4cb297e7c6\" style=\"\" rel=\"noopener\">plans to expand<\/a> its Nile Egyptian International Schools through partnerships with the private sector, by allowing private schools to set up new divisions that apply the Nile School curriculum. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And vocational education is really having its moment in the sun:<\/strong> The Education Ministry recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1079ec55-31a0-4079-9f55-0415046c5a47\" style=\"\" rel=\"noopener\">launched a strategy<\/a> to grow the number of vocational schools in Egypt and introduced a package of incentives and perks designed to reel in more private sector partners to develop these schools. In response to the boom in demand in the local real estate sector, a number of real estate developers <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a9bf78cb-ace3-4ebc-a79d-270dbf442b8a\" style=\"\" rel=\"noopener\">have begun to set up<\/a> real estate \u201cschools,\u201d high-school level programs that teach construction, finishing, landscaping, and other areas of study concerned with real estate development. ElSewedy EdTech is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/578c3a69-dbb6-4f42-ad32-4ad279004eb7\" style=\"\" rel=\"noopener\">working to set up a new university<\/a>, ElSewedy University of Technology - Polytechnic of Egypt, in partnership with Amity University of Dubai (AUD). The university will rely on a polytechnic educational model. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Egypt Education Platform teams up with football academy: <\/strong>EFG Hermes-backed Egypt Education Platform (EEP) is set to offer academic programs at football academy Right to Dream Egypt. (<a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/egypt-education-platform-and-right-to-dream-academy-forge-strategic-partnership-kqztz39v\" style=\"\" rel=\"noopener\">Press release<\/a>)<\/li>\n<li><strong>Parli Italiano? <\/strong>Egypt and Italy have inked an MoU to introduce Italian as an elective second language in public schools starting the 2024-2025 academic year. (<a target=\"_blank\" href=\"https:\/\/tinyurl.com\/ekuvh6ks\" style=\"\" rel=\"noopener\">Education Ministry Statement<\/a>)<\/li>\n<li><strong>Global NGO cooks up USD 2 mn education grant for Sudanese children:<\/strong>Emergency education fund Education Cannot Wait (ECW) is extending a USD 2 mn 12-month grant to the government \u2014 via the UNHCR \u2014 to help it provide school-age Sudanese refugees in Egypt with education. (<a target=\"_blank\" href=\"https:\/\/www.educationcannotwait.org\/news-stories\/press-releases\/education-cannot-wait-announces-us2-million-first-emergency-response-2\" style=\"\" rel=\"noopener\">ECW statement<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/blackboard\/\">Blackboard<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/digitization\/\">digitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"612140\" 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\/18\/612140\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612140\" class=\"content-area-description single-story post-612140 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>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;\">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\">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;\">JANUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1 January (Monday): Egypt to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/625a6a24-800b-46c9-b6ea-6a1158ee3640\" style=\"\">join<\/a><\/span><span style=\"font-weight:400;\">the Brics.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1 January (Monday): Private-sector minimum wage to rise to EGP 3.5k <\/span><span>and minimum pension rate to rise to EGP 1.3k.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7 January (Sunday): Coptic Christmas <\/span><span style=\"\">(national holiday)<\/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;\">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 \/ Police Day <\/span><span style=\"\">(national holiday).<\/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>11 February (Sunday): Deadline to apply for the<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/39dc4a75-8ed5-46ed-a296-30a40cf2f166\" style=\"\">Chicago Booth Executive Program<\/a><\/span><span style=\"font-weight:400;\">in El Gouna.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25 February 2024 (Sunday): Deadline to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1ec344c3-9e08-4b6a-9656-143e62bbf536\" style=\"\">bid for 23 blocks<\/a><\/span><span> in an international oil and gas tender.<\/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;\">MARCH<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20 March (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a48ac77-0c93-4364-bc1f-c6abf5bea2ed\" style=\"\">End of sugar export ban<\/a><\/span><span>.<\/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) (national holiday).<\/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) (national holiday).<\/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) (national holiday).<\/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 (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>29 May (Wednesday): Virtual launch of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.chicagobooth.edu\/executiveeducation\/programs\/management\/executive-program-el-gouna\" style=\"\">Chicago Booth Executive Program<\/a><\/span><span>.<\/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) (national holiday).<\/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 (national holiday).<\/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 (national holiday).<\/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<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;\">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>February-May: The Grand Egyptian Museum could officially <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/737b1347-f02b-4ee0-87c1-032c0c858611\" style=\"\">open to visitors<\/a><\/span><span>.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>June 2024: Gov\u2019t expects to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cfdc99d8-291f-4b7c-8af8-8e1cccc74de5\" style=\"\">finalize sale<\/a><\/span><span style=\"font-weight:400;\"> 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>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 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;\">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 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:700;\">2025<\/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>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;\">2027<\/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;\">End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Election results today | Raya IT IPO | Pension hikes | B.TECH closes securitization issuance | Chefaa raises mns<\/p>\n","protected":false},"featured_media":612111,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-612110","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d3176abe-a61e-4ce5-a090-53ea0a23b9f6","teaser":"Election results today | Raya IT IPO | Pension hikes | B.TECH closes securitization 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