{"id":612366,"date":"2023-12-21T00:00:00","date_gmt":"2023-12-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=612366"},"modified":"2025-12-17T02:49:55","modified_gmt":"2025-12-17T02:49:55","slug":"state-wraps-sale-of-historic-hotel-group-to-a-unit-of-tmg","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/state-wraps-sale-of-historic-hotel-group-to-a-unit-of-tmg\/","title":{"rendered":"State wraps sale of historic hotel group to a unit of TMG"},"content":{"rendered":"<section id=\"612368\" 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=\"612368\">\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\/21\/the-cbe-is-meeting-today-analysts-see-rates-remaining-unchanged\/\">\r\n                            Egypt\u2019s central bank is meeting today \u2014- analysts see rates remaining unchanged                        <\/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\/21\/the-cbe-is-meeting-today-analysts-see-rates-remaining-unchanged\/\" target=\"_blank\">\n         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hentry category-what-were-tracking-today tag-central-bank-of-egypt tag-enterpriseam tag-interest-rates tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.d8f9d5b3-c709-42f4-8651-f0d94b8349c8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve nearly made it through another workweek, friends<\/strong>, though we\u2019ll admit to more than passing curiosity about what the central bank will decide when it meets later today to review interest rates. In the meantime, our report this morning brims with news of investment, so there\u2019s that to keep us occupied in the meantime. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We can all be forgiven for hoping the end-of-year news slowdown kicks into effect on <\/strong><strong>Sunday<\/strong>, but we also have our fingers crossed for news on the foreign exchange front. It\u2019s going to be a nail-biter \u2014 but at least we\u2019ll be doing this together, right?<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING TODAY- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>It\u2019s interest rate day:<\/strong> The Central Bank of Egypt (CBE) is expected to leave interest rates unchanged when it meets later today, according to our <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/03f435f2-4022-4bfc-933a-8d47b02a1802\" style=\"\" rel=\"noopener\">poll of analysts<\/a>. Seven of the nine we spoke with think the CBE will leave rates on hold thanks to cooling inflation and unchanged US interest rates. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>The UN will vote on boosting Gaza aid:<\/strong> A UN Security Council\u2019s vote on a UAE-drafted resolution to ramp up humanitarian aid to Gaza has been pushed to today. <strong>Talks are <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/un-vote-gaza-aid-further-delayed-us-works-intensely-2023-12-20\/\" style=\"\" rel=\"noopener\">dragging<\/a><\/strong><strong> between Egypt and the United States<\/strong> on authorizing the UN to be the sole inspector of aid going into the enclave \u2014 Israel has a choke-hold on the flow of supplies right now. The vote was first scheduled for Monday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The curtain falls on GFF: <\/strong><a target=\"_blank\" href=\"https:\/\/elgounafilmfestival.com\/\" style=\"\" rel=\"noopener\">El Gouna Film Festival<\/a> wraps after six days of showings including a special spotlight on Palestine \u2014 <a target=\"_blank\" href=\"https:\/\/elgounafilmfestival.com\/article\/335\" style=\"\" rel=\"noopener\">Windows on Palestine<\/a> \u2014 in collaboration with the Palestine Film Institute. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Movies aren\u2019t your thing? Try a play. <\/strong>Art and friendship clash in Kenoma Theater\u2019s Fann \u2014 an Egyptian adaptation of renowned playwright Yasmine Reza\u2019s Art \u2014 at Downtown\u2019s <a target=\"_blank\" href=\"https:\/\/maps.app.goo.gl\/jYQtcsMRW6o3FAug7\" style=\"\" rel=\"noopener\">Rawabet Art Space<\/a>. You can catch the play today, tomorrow, or Saturday. <a target=\"_blank\" href=\"https:\/\/www.ticketsmarche.com\/art_se_2617.html\" style=\"\" rel=\"noopener\">Buy your tickets here<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING SOON-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>Cameron in Egypt: <\/strong>British Foreign Minister <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/uk-foreign-minister-cameron-visit-jordan-egypt-this-week-2023-12-20\/\" style=\"\" rel=\"noopener\">David Cameron<\/a> is traveling to Jordan and Egypt this week to push for a \u201csustainable ceasefire.\u201d He will meet with his Jordanian counterpart in Jordan before heading to Egypt where he will visit Arish to oversee British aid being sent to Gaza. The foreign ministry didn\u2019t say yesterday when Cameron was scheduled to touch down.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PIJ leader to visit? <\/strong>A leader of Palestinian Islamic Jihad is scheduled to visit in the coming days, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-battles-hamas-streets-gaza-city-un-delays-vote-again-2023-12-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a> writes, noting the group holds a number of Israeli hostages. His visit will follow Hamas leader Ismail Haniyeh, who was here yesterday for \u201cintensive talks on a new ceasefire to let aid reach Gaza and free more hostages.\u201d<\/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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BEFORE YEAR-END?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Mubarak HQ developer:<\/strong> The Sovereign Fund of Egypt is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2896c92b-d848-4e6a-bb3e-a76c82418f95\" style=\"\" rel=\"noopener\">set to finalize<\/a> a contract with a consortium that will be in charge of developing the site of the former National Democratic Party (NDP) headquarters in Downtown Cairo.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- ADQ\u2019s USD 800 mn <\/strong><strong>acquisition<\/strong> of stakes in the three oil and petrochemical companies Elab, Ethyco, and EDC.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- e-Finance\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/87599cac-ec79-4b71-ad27-db561219083d\" style=\"\" rel=\"noopener\">acquisition<\/a><\/strong><strong> of a retail-focused digital payment player<\/strong>,which received the board\u2019s approval earlier this month.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Credit rating agency license award:<\/strong> The FRA has previously said it would award a license to operate a new credit rating agency. Three consortiums have applied.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>EGX WATCH- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Faster access to funds after capital subscription? <\/strong>The EGX is in talks with the Financial Regulatory Authority (FRA) to cut the time it takes for listed companies to access the capital they raise through subscription, where they can have it in as little as 10 days compared to the current 30-day range, EGX Chairman Ahmed El Sheikh said yesterday, Asharq Business <a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1737407841219080685\" style=\"\" rel=\"noopener\">wrote on X<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More of this please: <\/strong>It is effectively unheard-of in Egypt that investors locking up funds through subscription to a capital increase find their new shares listed and admitted to trading on the EGX quickly. More often, investors see their cash sit in limbo, generating float for the issuer (not the investor) for weeks and (or months) on end as corporate and regulatory procedures grind on. One exception was the Beltone\u2019s landmark <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4df7553e-2d65-4b38-9a3c-0da9c946a4ba\" style=\"\" rel=\"noopener\">EGP 10 bn capital increase<\/a>, which saw 5 bn new shares land on the EGX roughly after a week of closing the subscription.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EGX has more in the cards:<\/strong> The FRA is considering the introduction of key reforms and instruments to the bourse in a bid to boost trading performance. (See reports <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/mr3uxp2u\" style=\"\" rel=\"noopener\">here<\/a>, <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/58avwmh5\" style=\"\" rel=\"noopener\">here<\/a>, and <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/yckdrr36\" style=\"\" rel=\"noopener\">here<\/a>.) The basics:<\/p><ul>\n<li><strong>Trading fractional shares of income-generating real estate assets<\/strong> \u2014 such as malls \u2014 rather than as securities or assets of REITs.<\/li>\n<li><strong>A hedged index<\/strong>, the launch of which aims to offset the risk of loss in case of rapid price fluctuations in securities.<\/li>\n<li><strong>A unified short selling system<\/strong>through the Misr for Central Clearing, Depository and Registry (MCDR).<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WATCH THIS SPACE- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#1- <\/strong><strong>More expensive telecom services? <\/strong>Mobile network operators are reportedly in talks with the government over increasing their prices, Vodafone Egypt head Hany Mahmoud told <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/ykk5v84t\" style=\"\" rel=\"noopener\">Asharq Business<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26d29a77-2f34-4ee8-a0e9-d2aa3447101d\" style=\"\" rel=\"noopener\">financial derivatives market<\/a><\/strong><strong> could be months away: <\/strong>The Financial Regulatory Authority aims to launch a derivatives market within the next few months, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/12\/20\/1748338\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing the authority\u2019s deputy chairman Islam Azzam. <\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n  <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>\n <\/p><\/div>\n<\/div>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>RED SEA WATCH- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>It doesn't look like global trade will be going back to normal anytime soon. <\/strong>Yemen\u2019s armedHouthi group is warning Washington that it will target US battleships if Yemen is attacked, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-20\/yemen-s-houthis-vow-more-attacks-on-ships-in-red-sea-despite-us-naval-force?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> writes, citing statements from Houthi leader Abdul Malik Al Houthi. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over 100 container ships have <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-20\/a-hundred-container-ships-reroute-as-us-weighs-red-sea-response?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">rerouted<\/a><\/strong><strong> away from the Red Sea<\/strong>, taking the longer course around the Cape of Good Hope, and the Greek Shipping Ministry has <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/greece-advises-vessels-avoid-yemeni-waters-after-red-sea-attacks-2023-12-20\/\" style=\"\" rel=\"noopener\">instructed<\/a> Greek-flagged vessels in the Red Sea and the Gulf of Eden to avoid Yemeni waters. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Traffic through the Bab Al-Mandab strait was down 14% <\/strong>between 15-19 December compared with 8-12 December.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY ABROAD-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No single story is dominating the global business press this morning. <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/investigates\/special-report\/tesla-musk-steering-suspension\/\" style=\"\" rel=\"noopener\">Reuters<\/a> is out with an investigation looking at Tesla failures. The US press is obsessed with Agent Orange\u2019s legal woes and how they could <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/12\/20\/us\/politics\/trump-supreme-court-election.html\" style=\"\" rel=\"noopener\">impact the 2024 race<\/a> for the presidency.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The region\u2019s first AI-powered space tech company: <\/strong>ADX-listed <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&amp;id=1e9342667d&amp;e=8e5fca127e\" style=\"\" rel=\"noopener\">Bayanat<\/a> and <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&amp;id=1e7fbbe2f5&amp;e=8e5fca127e\" style=\"\" rel=\"noopener\">Yahsat<\/a> will merge to give us Space42, the first AI-powered space tech company in the MENA region, according to an ADX <a target=\"_blank\" href=\"https:\/\/www.adx.ae\/English\/Pages\/NewsDetails.aspx?viewid=20231220081440-BAYANAT\" style=\"\" rel=\"noopener\">disclosure<\/a>. The merger will be executed via a <a target=\"_blank\" href=\"https:\/\/www.yahsat.com\/en\/news-and-media\/news\/2023\/bayanat-and-yahsat-boards-recommend-merger-to-create-an-ai-powered#:~:text=The%20proposed%20transaction,combined%20entity%20respectively.\" style=\"\" rel=\"noopener\">share-swap<\/a>, valued at AED 15 bn (c. USD 4 bn). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SPEAKING OF AI- Can it own patent rights? <\/strong>The UK Supreme Court doesn\u2019t think so, ruling against a bid put forward by a computer scientist to register patents for inventions created by his AI system, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/ai-cannot-be-patent-inventor-uk-supreme-court-rules-landmark-case-2023-12-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Seven European nations pledge to have emission-free electricity by 2035:<\/strong> Germany, France, the Netherlands, Austria, Belgium, Luxembourg, and non-EU member Switzerland have all pledged to cut CO2 from their power grids by 2035 \u2014 around five years earlier than the rest of the EU\u2019s target. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-18\/germany-france-among-nations-eyeing-emission-free-power-by-2035?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/seven-european-countries-pledge-co2-free-power-systems-by-2035-2023-12-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"612370 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=\"612370\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/612370\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612370\" class=\"content-area-description single-story post-612370 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><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=\"612371\" 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                            \"\r\n            id=\"612371\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/talaat-moustafa-group-now-owns-a-39-stake-in-the-states-historic-hotels-company\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1459.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612372\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/talaat-moustafa-group-now-owns-a-39-stake-in-the-states-historic-hotels-company\/1459-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1459.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1459.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1459.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1459.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612371\" class=\"content-area-description single-story post-612371 post type-post status-publish format-standard has-post-thumbnail hentry category-uncategorized tag-enterpriseam tag-icon-investments tag-imf tag-international-finance-corporation tag-moustafa-madbouly tag-privatization-watch tag-sovereign-fund-of-egypt tag-talaat-moustafa-group 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\/2024\/1\/.1454bcca-419a-4ea0-8c3d-9155851821ee.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>That\u2019s a wrap on historic hotels sale:<\/strong> Talaat Moustafa Group (TMG) now officially owns a 39% stake in a group of historic hotels, Prime Minister Moustafa Madbouly said during a presser (watch, runtime: <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=HXSJIZjMrtY\" style=\"\" rel=\"noopener\">23:45<\/a>). That wraps a transaction that has been months in the making.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In detail: <\/strong>TMG inked the final agreement with the Sovereign Fund of Egypt (SFE) and the Egyptian General Company for Tourism and Hotels (EGOTH), giving its subsidiary Icon Investments 39% ownership and full management rights of a group of seven historic hotels \u2014 branded under the umbrella of Legacy Hotels. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TMG will become majority owner: <\/strong>The agreement will eventually see TMG's Icon hold a 51% stake in the hotels, bringing the transaction\u2019s value to USD 800 mn, to be financed through Icon\u2019s internal resources and an upcoming capital increase, TMG said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1469.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. An \u201cinternational strategic investor\u201d will acquire a USD 882.5 mn minority stake in Icon via a capital increase, giving it an indirect stake in the hotels. This will result in \u201cone of the largest foreign direct inflows into Egypt in the last several years.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart #1: <\/strong>SFE CEO Ayman Soliman has long advocated that buyers be given the right to up their stakes through the injection of fresh capital that gives companies the cash they need to grow. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s in the portfolio? <\/strong>Seven historic properties, including the <strong>Cairo Marriott Hotel<\/strong> in Zamalek, <strong>Marriott Mena House<\/strong> next to the Giza Pyramids, <strong>Steigenberger Hotel El Tahrir<\/strong> Cairo, <strong>Steigenberger Cecil<\/strong> Alexandria, <strong>Sofitel Legend Old Cataract<\/strong> Aswan, <strong>M\u00f6venpick Aswan<\/strong>, and <strong>Sofitel Winter Palace<\/strong> Luxor. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The sale will help bring in some desperately needed hard currency into the country<\/strong>, with the full value of the transaction set to be paid in USD. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A bigger stake and higher price tag:<\/strong> The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5eebc811-7a6e-4798-ad07-f7d9fc6192ea\" style=\"\" rel=\"noopener\">initial transaction agreement<\/a> announced in July saw Icon taking a 37% stake in the company for USD 700 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where is the money going?<\/strong> The state will use USD 150 mn in proceeds from the transaction proceeds to overhaul and develop the seven hotels, TMG CEO Hisham Talaat Moustafa told Asharq Business (<a target=\"_blank\" href=\"http:\/\/tinyurl.com\/64k7uunu\" style=\"\" rel=\"noopener\">watch, runtime:<\/a><a target=\"_blank\" href=\"http:\/\/tinyurl.com\/64k7uunu\" style=\"\" rel=\"noopener\">1:24<\/a>). \u201cThe purpose of this investment into Legacy is to develop and upgrade these hotels to bring their operational efficiency to higher levels, enabling them to attract higher quality of tourism to Egypt,\u201d the TMG statement said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Icon's\u2019s portfolio post acquisition: <\/strong>With this new batch of hotels under its belt, Icon now owns 15 hotels across Egypt and around 5k rooms. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Talaat Moustafa made a point of thanking our friends at EFG Hermes (including EFG Holding Group CEO Karim Awad) as well <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/drhanisarieldin\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">Hani Sarie-Eldin<\/a>, <a target=\"_blank\" href=\"http:\/\/shahidlaw.com\/team\/counselor-sarwat-abd-el-shahid\/\" style=\"\" rel=\"noopener\">Sarwat Abdel Shaheed<\/a>, <a target=\"_blank\" href=\"https:\/\/aboushokalaw.com\/en-uk\/people\/dr-mohamed-bahaa-eldin-abou-shoka\/\" style=\"\" rel=\"noopener\">Mohamed Abou Sho<\/a><a target=\"_blank\" href=\"https:\/\/aboushokalaw.com\/en-uk\/people\/dr-mohamed-bahaa-eldin-abou-shoka\/\" style=\"\" rel=\"noopener\">ka<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.ey.com\/en_eg\" style=\"\" rel=\"noopener\">Ernst &amp; Young<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart #2<\/strong><strong>- <\/strong>10-20% of the proceeds from privatization transactions typically go to the state\u2019s treasury, while the rest is returned to the ministry or agency to reinvest, a government source told Enterprise. If the selling price is settled in foreign currency, the central bank exchanges it for the ministry to use it as it wishes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A recent example: <\/strong>The sale of a stake in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6133528b-ff49-4ccb-b8f3-d7b3f995bd33\" style=\"\" rel=\"noopener\">Eastern Company<\/a>, where the government now plans to use the bulk of the proceeds to invest in state-owned fertilizer plants.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WHERE DO WE GO FROM HERE?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The program so far: <\/strong>The government has so far secured about<strong> USD 5.6 bn <\/strong>from selling stakes in 14 state-owned companies, Madbouly noted. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What are those 14? <\/strong>A senior government official we spoke with listed them as follows:<\/p>\n<ul>\n<li>The April 2022 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4a11664-2159-45ba-ba2f-bf0d3dfd3978\" style=\"\" rel=\"noopener\">acquisition<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4a11664-2159-45ba-ba2f-bf0d3dfd3978\" style=\"\" rel=\"noopener\">by ADQ<\/a> of state-owned stakes in five EGX-listed companies for a total of USD 1.8 bn \u2014 namely: <strong>CIB<\/strong>, <strong>Abu Qir<\/strong>, <strong>Mopco<\/strong>, <strong>Alex Containers<\/strong>, and<strong>Fawry<\/strong>. <\/li>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/316415e5-ccc3-42ca-b442-80dd3b8b2e16\" style=\"\" rel=\"noopener\">PIF\u2019s USD 1.3 bn acquisition<\/a> in August 2022 of stakes in <strong>Mopco<\/strong>, <strong>Abu Qir<\/strong>, <strong>E-finance<\/strong>, and <strong>Alex Containers<\/strong>;<\/li>\n<li>USD 2.5 bn this year from the sale of stakes in <strong>Pachin<\/strong>, <strong>Telecom Egypt<\/strong>, <strong>Eastern<\/strong>, <strong>Al Ezz Dekhila<\/strong>, <strong>Legacy Hotels<\/strong>;<\/li>\n<li>An imminent sale to ADQ will make up the rest of the USD 2.5 bn for 2023. The Abu Dhabi wealth fund is set to buy stakes in <strong>Ethydco<\/strong>, <strong>Egyptian<\/strong><strong> Drilling Company<\/strong>, and <strong>Egyptian Linear Alkyl Benzene<\/strong>.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More companies could join the privatization program soon: <\/strong>The Madbouly government, alongside the International Finance Corporation (IFC), has been looking into 50 state-owned companies to determine which sectors would be more attractive and lucrative. <strong>The IFC sees potential in airports, communications, ins. and banking. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO:<\/strong> Madbouly <a target=\"_blank\" href=\"https:\/\/www.enterprise.news\/news\/story\/39dc4a75-8ed5-46ed-a296-30a40cf2f166\" style=\"\" rel=\"noopener\">last month<\/a> said that the government is looking to bring in private sector operators to run some of the nation\u2019s <strong>airports<\/strong>. We expect to see <strong>infrastructure<\/strong> and <strong>financial services<\/strong> offerings added to the privatization program in 1Q 2024 after comments from Soliman said <a target=\"_blank\" href=\"https:\/\/www.enterprise.news\/news\/story\/2896c92b-d848-4e6a-bb3e-a76c82418f95\/More%20state%20companies%20lined%20up%20for%20sale%20in%201Q%202024,%20says%20SFE%20chief\" style=\"\" rel=\"noopener\">earlier this month<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A non-update on IMF talks:<\/strong> \u201cNegotiations with the IMF haven\u2019t stopped,\u201d Madboouly said, explaining that the two sides are currently working on a \u201cnew [review] schedule\u201d to be announced soon.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not part of the discussion yesterday: <\/strong>There was no updated on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2896c92b-d848-4e6a-bb3e-a76c82418f95\" style=\"\" rel=\"noopener\">ADQ\u2019s acquisition<\/a> of stakes in the three oil and petrochemical companies, the sale of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7a248ffa-5a1b-4ef5-bfac-5250146e9cc2\" style=\"\" rel=\"noopener\">Banque du Caire<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4ff534b7-45d7-45b5-a739-fa5c8f3eed09\" style=\"\" rel=\"noopener\">United Bank<\/a>, or AAIB, the Gabal El Zeit or Zafarana <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c947fd3b-f940-4acd-a93e-9a1c02d2aad7\" style=\"\" rel=\"noopener\">wind farms<\/a>, or the Siemens power plants. We had a recap of some of the more interesting assets still out for sale in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e761bd45-d2aa-41d2-9cef-ebb437f543ff\" style=\"\" rel=\"noopener\">yesterday\u2019s issue of Enterprise AM<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/icon-investments\/\">Icon Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-finance-corporation\/\">International Finance Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/talaat-moustafa-group\/\">Talaat Moustafa Group<\/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=\"612373\" 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=\"612373\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/acwa-power-to-set-up-a-usd-4-bn-green-hydrogen-plant-in-sczone\/\">\r\n                            Acwa Power to invest USD 4 bn in a green hydrogen project in Egypt\u2019s Suez Canal Economic Zone                        <\/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\/21\/acwa-power-to-set-up-a-usd-4-bn-green-hydrogen-plant-in-sczone\/\" 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 second phase of the project will add another 2 mn metric tons of green ammonia to the plant\u2019s production capacity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s involved? <\/strong>The Saudi renewables player inked the agreement with the Sovereign Fund of Egypt (SFE), the SCZone, the Egyptian Electricity Transmission Company, and the New and Renewable Energy Authority (NREA).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Acwa is no stranger to Egypt\u2019s renewables sector: <\/strong>Acwa, alongside our friends at Hassan Allam Holding, is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2853d3da-411c-443c-869a-de7e74e1b45e\" style=\"\" rel=\"noopener\">expected to break ground<\/a> early next year on a USD 1.5 bn, 1.1 GW wind farm in the Gulf of Suez, the largest in the Middle East. Acwa also has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e896f40-de35-4eb5-a5af-794da2447234\" style=\"\" rel=\"noopener\">minority stakes<\/a> in three plants in Benban.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Caveat:<\/strong> The agreement signed yesterday is a framework agreement, which is not (by definition) a binding contract. Acwa will likely continue to study the project before coming to a final investment decision or a timeline of the project implementation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt loves green hydrogen: <\/strong>The government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/1f8d7402-6d05-4eae-b3b0-b5bb811be7ab\" style=\"\" rel=\"noopener\">signed several framework agreements<\/a> for green hydrogen projects over the past year. We are still waiting for the green hydrogen strategy to be announced after it has been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7aba5dd1-2402-4b33-ad8f-df8e9652aa5f\" style=\"\" rel=\"noopener\">approved by the National Green Hydrogen Council<\/a> last month. The long-awaited strategy aims to provide a regulatory framework for the local production of green hydrogen.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/acwa-power\/\">ACWA Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/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=\"612375\" 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=\"612375\">\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\">Real estate<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/ora-to-invest-usd-10-bn-in-uae-mega-project\/\">\r\n                            Sawiris\u2019s Ora to invest USD 10 bn in new UAE real estate project alongside Q Holding                        <\/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\/21\/ora-to-invest-usd-10-bn-in-uae-mega-project\/\" 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\/21\/ora-to-invest-usd-10-bn-in-uae-mega-project\/')\">\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\/21\/ora-to-invest-usd-10-bn-in-uae-mega-project\/\">\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=Ora to invest USD 10 bn in UAE mega project&url=https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/ora-to-invest-usd-10-bn-in-uae-mega-project\/\">\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\/21\/ora-to-invest-usd-10-bn-in-uae-mega-project\/&title=Ora to invest USD 10 bn in UAE mega project\">\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=Ora+to+invest+USD+10+bn+in+UAE+mega+project+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F21%2Fora-to-invest-usd-10-bn-in-uae-mega-project%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\/21\/ora-to-invest-usd-10-bn-in-uae-mega-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1455.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612376\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/ora-to-invest-usd-10-bn-in-uae-mega-project\/1455-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1455.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1455.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1455.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1455.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612375\" class=\"content-area-description single-story post-612375 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate tag-enterpriseam tag-naguib-sawiris tag-ora-developers tag-q-holding tag-real-estate 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\/.06137d89-38c8-4134-9862-b726bdde1ea6.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on Ora\u2019s mega UAE project: <\/strong>Sawiris-owned Ora Developers has partnered with Abu Dhabi investment firm <a target=\"_blank\" href=\"https:\/\/qholding.com\/\" style=\"\" rel=\"noopener\">Q Holding<\/a> for a USD 10 bn real estate project project in the Ghantoot area between Abu Dhabi and Dubai, Naguib Sawiris told <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/24b5vrz9\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The 15 mn-sqm mega real estate project should be completed within the coming 10-15 years, he had previously <a target=\"_blank\" href=\"https:\/\/www.enterprise.news\/news\/story\/8516b283-823f-42a9-81fc-0eb10db24f36\" style=\"\" rel=\"noopener\">said<\/a>. The project is expected to make up to USD 15 bn in sales, he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It has been busy at the Ora HQ: <\/strong>The firm recently acquired 175 feddans in New Cairo and 128 feddans in the North Coast, where it will be setting up new real estate projects that it will start selling off next year, and it also has plans to set up three new hotels \u2013 two in the North Coast and one near the Pyramids, Sawiris said earlier this month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO FROM NAGUIB-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The FX crisis\u2019 impact on real estate sector: <\/strong>\u201cThe government should allow developers to sell units in USD\u201d and provide incentives to accommodate developers during the ongoing currency crisis, as the FX component accounts for 35% of the building costs, Sawiris <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/25yv2p7s\" style=\"\" rel=\"noopener\">said<\/a>. \u201cReal estate developers sell properties at fixed rates despite growing costs, and therefore they end up accruing losses,\u201d he separately told <a target=\"_blank\" href=\"https:\/\/twitter.com\/AlArabiyaBN_EG\/status\/1737454789976293799?s=20\" style=\"\" rel=\"noopener\">Al Arabiya Business<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Naguib didn\u2019t miss the chance to talk up gold<\/strong>, reiterating that the precious metal will remain a safe haven especially during the current regional and global conflicts. The price of the 21-karat gold has witnessed new highs domestically this week, <a target=\"_blank\" href=\"https:\/\/www.elbalad.news\/6045119\" style=\"\" rel=\"noopener\">nearing the level of EGP 3k<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/naguib-sawiris\/\">Naguib Sawiris<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ora-developers\/\">Ora Developers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/q-holding\/\">Q Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"612377\" 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=\"612377\">\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\">Development finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/ebrd-approves-usd-100-mn-loan-to-nbe\/\">\r\n                            National Bank of Egypt is getting USD 100 mn from the EBRD to on-lend                        <\/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\/21\/ebrd-approves-usd-100-mn-loan-to-nbe\/\" 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\/21\/ebrd-approves-usd-100-mn-loan-to-nbe\/')\">\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\/21\/ebrd-approves-usd-100-mn-loan-to-nbe\/\">\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=EBRD approves USD 100 mn loan to NBE&url=https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/ebrd-approves-usd-100-mn-loan-to-nbe\/\">\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\/21\/ebrd-approves-usd-100-mn-loan-to-nbe\/&title=EBRD approves USD 100 mn loan to NBE\">\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=EBRD+approves+USD+100+mn+loan+to+NBE+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F21%2Febrd-approves-usd-100-mn-loan-to-nbe%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\/21\/ebrd-approves-usd-100-mn-loan-to-nbe\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/415.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612378\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/ebrd-approves-usd-100-mn-loan-to-nbe\/415-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/415.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"415.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/415.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/415.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612377\" class=\"content-area-description single-story post-612377 post type-post status-publish format-standard has-post-thumbnail hentry category-development-finance tag-development-finance tag-ebrd tag-enterpriseam tag-national-bank-of-egypt tag-smes 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\/.41e473c7-1365-4c27-a3d5-f0be04a9ac99.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>NBE is getting USD 100 mn from the EBRD:<\/strong> The European Bank for Reconstruction and Development (EBRD) will be granting the National Bank of Egypt (NBE) up to USD 100 mn senior unsecured loan to be on-lent to micro, small, and medium enterprises (MSMEs), according to an EBRD <a target=\"_blank\" href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/54402.html\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The beneficiaries: <\/strong>Half of the loan will be used for on-lending to MSMEs outside of Egypt\u2019s two main urban centers, Cairo and Alexandria. Half of the financing is also earmarked for financing enterprises owned or led by women or youth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another agreement in the making? <\/strong>We may see another EBRD agreement in the coming days, as EBRD\u2019s Egypt boss Khalid Hamza <a target=\"_blank\" href=\"https:\/\/www.enterprise.news\/news\/story\/09279e03-fc4b-44f2-b64f-55e34d9dca3c\" style=\"\" rel=\"noopener\">said on Tuesday<\/a> that the multilateral lender could extend financing to \u201cone or two banks\u201d before the end of this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>The EBRD has been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f9bf40b7-bab3-470a-a003-56654ca46dc7\" style=\"\" rel=\"noopener\">loosening its purse strings<\/a> this month, with a USD 50 mn loan to Elsewedy\u2019s United Metals Company (UMC) announced two weeks ago and another two loans worth a combined USD 35 mn for aiBank approved last week.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-bank-of-egypt\/\">National Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/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=\"612379\" 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=\"612379\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/edita-wants-to-invest-1-egp-bn-to-expand-production-capacity\/\">\r\n                            Egyptian snackmaker Edita wants to invest 1 EGP bn to expand production capacity in 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\/21\/edita-wants-to-invest-1-egp-bn-to-expand-production-capacity\/\" 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\/21\/edita-wants-to-invest-1-egp-bn-to-expand-production-capacity\/')\">\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\/21\/edita-wants-to-invest-1-egp-bn-to-expand-production-capacity\/\">\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=Edita wants to invest 1 EGP bn to expand production capacity&url=https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/edita-wants-to-invest-1-egp-bn-to-expand-production-capacity\/\">\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\/21\/edita-wants-to-invest-1-egp-bn-to-expand-production-capacity\/&title=Edita wants to invest 1 EGP bn to expand production capacity\">\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=Edita+wants+to+invest+1+EGP+bn+to+expand+production+capacity+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F21%2Fedita-wants-to-invest-1-egp-bn-to-expand-production-capacity%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\/21\/edita-wants-to-invest-1-egp-bn-to-expand-production-capacity\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/428.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612380\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/edita-wants-to-invest-1-egp-bn-to-expand-production-capacity\/428-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/428.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"428.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/428.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/428.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612379\" class=\"content-area-description single-story post-612379 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-edita tag-enterpriseam tag-hani-berzi tag-investment-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\/.04b3138b-91c3-4833-9ab7-cfccaa54c4ae.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Edita has big investment plans for 2024:<\/strong> Snackmaker Edita wants to invest more than EGP 1 bn to increase its production capacity in Egypt next year, Edita Chairman Hani Berzi told CNBC Arabia (<a target=\"_blank\" href=\"http:\/\/tinyurl.com\/3upa5jc4\" style=\"\" rel=\"noopener\">watch, runtime: 2:35<\/a>).<\/p>\n<p><strong>It has been a good 2023: <\/strong>The company\u2019s sales saw more than a 20% y-o-y increase in 2023, he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No FX. No problem.<\/strong> Growing exports played a huge role in securing the needed hard currency to cover import costs, Berzi said, adding that Edita\u2019s exports are expected to exceed EGP 1 bn by year\u2019s end.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Edita posted <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/46da0b69-7a18-4d66-9ca2-d20f01452c20\" style=\"\" rel=\"noopener\">EGP 1.2 bn in net income<\/a> during the first nine months of the year, up 88% y-o-y, and sold EGP 8.8 bn worth of its snacks, up 70% compared to the previous period, driven by growth across all segments.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/edita\/\">Edita<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hani-berzi\/\">Hani Berzi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"612381\" 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=\"612381\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/egyptian-edtech-startup-ischool-raises-usd-4-5-mn\/\">\r\n                            Egyptian edtech startup iSchool raises USD 4.5 mn in 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\/21\/egyptian-edtech-startup-ischool-raises-usd-4-5-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\/21\/egyptian-edtech-startup-ischool-raises-usd-4-5-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\/21\/egyptian-edtech-startup-ischool-raises-usd-4-5-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=Egyptian edtech startup iSchool raises USD 4.5 mn&url=https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/egyptian-edtech-startup-ischool-raises-usd-4-5-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\/21\/egyptian-edtech-startup-ischool-raises-usd-4-5-mn\/&title=Egyptian edtech startup iSchool raises USD 4.5 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=Egyptian+edtech+startup+iSchool+raises+USD+4.5+mn+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F21%2Fegyptian-edtech-startup-ischool-raises-usd-4-5-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\/21\/egyptian-edtech-startup-ischool-raises-usd-4-5-mn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1439.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612382\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/egyptian-edtech-startup-ischool-raises-usd-4-5-mn\/1439-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1439.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1439.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1439.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1439.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612381\" class=\"content-area-description single-story post-612381 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-edtech tag-enterpriseam tag-ischool 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\/.75f03a42-54f0-4644-9a5b-8ffe7ad5cddb.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>iSchool secures USD 4.5 mn from global investors:<\/strong> Egyptian edtech startup <a target=\"_blank\" href=\"https:\/\/www.ischooltech.com\/\" style=\"\" rel=\"noopener\">iSchool<\/a> raised USD 4.5 mn in a funding round led by Irish VC <a target=\"_blank\" href=\"https:\/\/venturewave.com\/\" style=\"\" rel=\"noopener\">VentureWave<\/a>, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1440.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. OneStop Capital UK, <a target=\"_blank\" href=\"https:\/\/www.webit.network\/en\/\" style=\"\" rel=\"noopener\">Webit Investment Network<\/a>, and Dubai Integrated Economic Zones Authority\u2019s <a target=\"_blank\" href=\"https:\/\/www.oraseyacapital.com\/\" style=\"\" rel=\"noopener\">Oraseya Capital<\/a> also participated in the round. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>iSchool? <\/strong>Since its inception in 2018, iSchool has raised some USD 5.9 mn. The startup offers gamified classes in English and Arabic for students between the ages 6-18 across 20 different countries, co-founder and CEO Muhammad Gawish (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/muhammadgawish\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) told Enterprise. iSchool offers students one-on-one sessions on AI, app development, game development, and web development, with the aim of making technology education available to students who wouldn\u2019t normally have access to it. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where will the money go? <\/strong>The startup plans to use the funds to fuel its expansion across the GCC. The startup will also invest in product development, expanding its team, and launching new products, Gawish said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>L<\/strong><strong>ots of expan<\/strong><strong>sion plans: <\/strong>iSchool currently has 582 employees in Egypt serving students in 20 countries. The startup wants to expand across the GCC \u2014 namely in Saudi, UAE, Oman, Qatar, Kuwait, and Bahrain \u2014 through the coming year and start looking at sub-Saharan Africa in 2025, Gawish told us.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/edtech\/\">edtech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ischool\/\">iSchool<\/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=\"612383\" 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=\"612383\">\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\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/cabinet-greenlights-incentives-for-hospitality-players\/\">\r\n                            Egyptian cabinet approves EGP 50 bn tourism initiative                        <\/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\/21\/cabinet-greenlights-incentives-for-hospitality-players\/\" 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\/21\/cabinet-greenlights-incentives-for-hospitality-players\/')\">\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\/21\/cabinet-greenlights-incentives-for-hospitality-players\/\">\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=Cabinet greenlights incentives for hospitality players&url=https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/cabinet-greenlights-incentives-for-hospitality-players\/\">\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\/21\/cabinet-greenlights-incentives-for-hospitality-players\/&title=Cabinet greenlights incentives for hospitality players\">\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=Cabinet+greenlights+incentives+for+hospitality+players+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F21%2Fcabinet-greenlights-incentives-for-hospitality-players%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\/21\/cabinet-greenlights-incentives-for-hospitality-players\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1462.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612384\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/cabinet-greenlights-incentives-for-hospitality-players\/1462-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1462.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1462.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1462.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1462.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612383\" class=\"content-area-description single-story post-612383 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-cabinet-watch tag-enterpriseam tag-hospitality tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.e798ec90-8eef-4e28-b03e-c8677d527f28.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Fresh incentives for hospitality sector:<\/strong> The Madbouly cabinet has approved a new EGP 50 bn tourism initiative that will see the government offer financial incentives to encourage hospitality players to increase their hotel room capacity. This came during the cabinet\u2019s latest <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/mrxwec4u\" style=\"\" rel=\"noopener\">weekly meeting<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s being offered? <\/strong>The government will offer hotel companies payouts not exceeding EGP 2 bn depending on their size to build, set up, or acquire new hotel rooms. Companies can start receiving the funding as of 1 January, the initiative will run for a full year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tax breaks: <\/strong>Tourism projects established after the implementation of the 2007 Investment Law will receive an income tax break. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The FX fine print: <\/strong>To be eligible, a company will need to exchange 40% of their hard currency revenues through the banking system for a five-year period. The initiative only applies to hotels operating in Greater Cairo, Luxor, Aswan, the Red Sea, South Sinai, and the North Coast. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>The mechanisms under which the initiative will be implemented will be drawn up by the finance and tourism ministries, alongside the central bank. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO APPROVED- <\/strong><\/p>\n<ul>\n<li><strong>A better industrial land allocation system? <\/strong>A draft law better regulating the allocation and pricing of industrial land plots, a topic that has long <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1b1bf360-2792-45ee-87cc-78086b2eafc9\" style=\"\" rel=\"noopener\">been an issue for industrial players<\/a>. <\/li>\n<li><strong>Fresh green funding: <\/strong>A EUR 500k green grant from the European Investment Bank to help realize the targets of the country\u2019s <a target=\"_blank\" href=\"https:\/\/www.eib.org\/en\/projects\/all\/20210635\" style=\"\" rel=\"noopener\">Green Sustainable Industry<\/a> (GSI) project.<\/li>\n<li><strong>Fresh German funding: <\/strong>A funding agreement with the German government that will target waste management and vocational training. <\/li>\n<li><strong>Goodbye, Libor? <\/strong>Amending our agreements with the Islamic Development Bank to use SOFR \u2014 a measure of the cost of borrowing collateralized by US Treasury securities \u2014 instead of the LIBOR. <\/li>\n<li><strong>Pushing back higher usufruct fees:<\/strong> A one-year postponement to the 15% increase on usufruct fees collected from companies operating in free zones, until the beginning of 2025. <\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cabinet-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"612385\" 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=\"612385\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/tamweel-sells-securitized-bonds-worth-egp-1-7-bn\/\">\r\n                            Egypt\u2019s Tamweel secures EGP 1.7 bn from securitization 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\/21\/tamweel-sells-securitized-bonds-worth-egp-1-7-bn\/\" 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\/21\/tamweel-sells-securitized-bonds-worth-egp-1-7-bn\/')\">\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\/21\/tamweel-sells-securitized-bonds-worth-egp-1-7-bn\/\">\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=Tamweel sells securitized bonds worth EGP 1.7 bn&url=https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/tamweel-sells-securitized-bonds-worth-egp-1-7-bn\/\">\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\/21\/tamweel-sells-securitized-bonds-worth-egp-1-7-bn\/&title=Tamweel sells securitized bonds worth EGP 1.7 bn\">\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=Tamweel+sells+securitized+bonds+worth+EGP+1.7+bn+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F21%2Ftamweel-sells-securitized-bonds-worth-egp-1-7-bn%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\/21\/tamweel-sells-securitized-bonds-worth-egp-1-7-bn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/558.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612386\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/tamweel-sells-securitized-bonds-worth-egp-1-7-bn\/558-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/558.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"558.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/558.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/558.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612385\" class=\"content-area-description single-story post-612385 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-abc-bank tag-abu-dhabi-commercial-bank tag-al-ahli-pharos tag-baker-tilly tag-banque-du-caire tag-cib tag-debt-watch tag-dreny-partners tag-ebank tag-enterpriseam tag-national-bank-of-egypt tag-securitization tag-tamweel-mortgage-finance 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\/.769d3011-cd1c-4122-acf4-85323af6acf4.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tamweel Mortgage Finance closed a EGP 1.7 bn securitized bonds issuance <\/strong><strong>arranged by CIB and Al Ahli Pharos<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7143210803247181825\/\" style=\"\" rel=\"noopener\">company statement<\/a> published yesterday. The issuance, which marks the third tranche of Tamweel\u2019s EGP 4 bn securitized bond program, was backed by a portfolio of EGP 3.1 bn worth of receivables.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In detail:<\/strong> The bonds, which came in five tranches with tenors ranging from 25-108 months, received ratings ranging from AA+ to A- from the Middle East Ratings and Investors Service (MERIS). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Buyers:<\/strong> CIB, National Bank of Egypt (NBE), Banque du Caire (BdC), Suez Canal Bank, Abu Dhabi Commercial Bank, EBank, and Bank ABC all subscribed to the issuance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> CIB and Al Ahli Pharos acted as the transaction\u2019s lead arrangers and promoters, while BdC was placement agent. Dreny & Partners was counsel, Baker Tilly was the issuance auditor, and CIB served as custodian.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT-<\/strong> Companies have raised nearly EGP 83.1 bn from securitization so far this year, up almost 83% from 2022, according to data tracked by Enterprise. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abc-bank\/\">ABC Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-dhabi-commercial-bank\/\">Abu Dhabi Commercial Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-ahli-pharos\/\">Al Ahli Pharos<\/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\/banque-du-caire\/\">Banque du Caire<\/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\/ebank\/\">EBank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-bank-of-egypt\/\">National Bank of Egypt<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tamweel-mortgage-finance\/\">Tamweel Mortgage Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"612387\" 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=\"612387\">\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\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/a-good-week-for-vodafone-egypt-egypts-banks\/\">\r\n                            Vodafone Egypt releases annual sustainability report                        <\/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\/21\/a-good-week-for-vodafone-egypt-egypts-banks\/\" 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 company is the first telecoms operator to voluntarily report on its sustainability efforts following the ESG approach metrics, it added. The investor relations team at <strong><a target=\"_blank\" href=\"https:\/\/enterpriseadvisory.com\/\" style=\"\" rel=\"noopener\">Enterprise Advisory<\/a><\/strong>, a unit of The Enterprise Co., helped Vodafone Egypt tell their story.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Vodafone Egypt has also signed two MOUs with the Communication Ministry <\/strong>to implement a number of initiatives to drive the development of public university students\u2019 skills in the IT sector, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1395.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More inclusive ATMs: <\/strong>More than one out of every five ATMs in the country now support people with disabilities. Some 22% machines are now friendly to folks with special needs, more than double the 10% quota set by the Central Bank of Egypt, the CBE said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1466.pdf\" style=\"\" rel=\"noopener\">statement<\/a>. There are around 5k ATMs with features designed to accommodate disabled people. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/esg\/\">ESG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vodafone-egypt\/\">Vodafone Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"612389 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=\"612389\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/612389\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612389\" class=\"content-area-description single-story post-612389 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/415.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"612390\" 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=\"612390\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/madboulys-presser-dominates-the-airwaves\/\">\r\n                            Talk shows discuss Prime Minister Moustafa Madbouly\u2019s presser and latest on privatization                        <\/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\/21\/madboulys-presser-dominates-the-airwaves\/\" 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\/21\/madboulys-presser-dominates-the-airwaves\/')\">\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\/21\/madboulys-presser-dominates-the-airwaves\/\">\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=Madbouly\u2019s presser  dominates the airwaves&url=https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/madboulys-presser-dominates-the-airwaves\/\">\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\/21\/madboulys-presser-dominates-the-airwaves\/&title=Madbouly\u2019s presser  dominates the airwaves\">\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=Madbouly%E2%80%99s+presser++dominates+the+airwaves+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F21%2Fmadboulys-presser-dominates-the-airwaves%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\/21\/madboulys-presser-dominates-the-airwaves\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1464.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612391\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/madboulys-presser-dominates-the-airwaves\/1464-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1464.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1464.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1464.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1464.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612390\" class=\"content-area-description single-story post-612390 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-last-nights-talk-shows tag-moustafa-madbouly 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\/.3241286c-5466-4b04-85b8-25ea9365cf65.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Privatization was the one topic of discussion on the airwaves last night<\/strong>, as the nation\u2019s talking heads recap what went down during Prime Minister Moustafa Madbouly\u2019s presser and the sale of a stake in seven state-owned historic hotels. Ala Mas\u2019ouleety interviewed cabinet spokesperson Mohamed El Homsani (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=qcMM-W73XIc\" style=\"\" rel=\"noopener\">watch, runtime: 13:38<\/a>) on the matter, while Yahduth Fi Masr spoke to the Sovereign Fund of Egypt\u2019s Ayman Soliman (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=nWj_c_eXu_s\" style=\"\" rel=\"noopener\">watch, runtime: 3:12<\/a>). Al Hayah Al Youm also had coverage (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=koqYddwe6Yk\" style=\"\" rel=\"noopener\">watch, runtime: 4:46<\/a>). We have the full story in the news well, above.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/moustafa-madbouly\/\">Moustafa Madbouly<\/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=\"612392\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div 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src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-xrv2vzh\" data-v=\"4\" data-block-id=\"xrv2vzh\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-xrv2vzh-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-xrv2vzh-inner-blocks\">\r\n            <div 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NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/gerd-deadlock-in-the-foreign-press\/\">\r\n                            International press covers Egypt\u2019s GERD and economy woes                        <\/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\/21\/gerd-deadlock-in-the-foreign-press\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" 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data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1443.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1443.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1443.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612393\" class=\"content-area-description single-story post-612393 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-economy tag-egypt-ethiopia-relations tag-enterpriseam tag-gerd tag-imf 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\/.fadb5197-0574-4d6c-8119-5bbf4a28b7f6.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Th<\/strong><strong>e international press is focused on our Nile deadlock with Ethiopia this<\/strong><strong> morning<\/strong>, after a fourth round of negotiations between Egypt, Sudan, and Ethiopia <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b070e18f-9687-434f-82bb-0544ea2daf58\" style=\"\" rel=\"noopener\">failed to reach a solution<\/a> to the longstanding GERD dispute. The story got attention from <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-20\/egypt-ethiopia-sudan-talks-over-mega-dam-on-nile-river-fail\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egypt-says-talks-over-grand-ethiopian-renaissance-dam-have-failed-statement-2023-12-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a>, and the <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2023\/12\/20\/ethiopia-egypt-dam-nile-dispute\/3f8a2142-9f25-11ee-9e0f-972979a6c22b_story.html\" style=\"\" rel=\"noopener\">Washington Post<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The economy also got a brief mention: <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egypt-faces-painful-choices-after-sisis-re-election-2023-12-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a> is out with a piece looking at our various economic challengesand the decisions the government is expected to make \u2014 currency devaluation and interest rate hikes \u2014 now that President Abdel Fattah El Sisi has secured a third term in office. Meanwhile, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-20\/cash-strapped-egypt-eyes-expanded-imf-loan-now-election-is-over?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> \u2019s sources see a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/df8e1343-11a4-48a5-980f-ca9f9eb5ebc8\" style=\"\" rel=\"noopener\">bigger IMF package<\/a> in our future. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-ethiopia-relations\/\">Egypt-Ethiopia relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"612395\" 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=\"612395\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/ahmed-ezz-ups-his-stake-in-own-company-plus-news-from-sodic-gorilla-technology-el-etreby\/\">\r\n                            Ahmed Ezz ups his stake in own company. PLUS: News from SODIC, Gorilla Technology, El Etreby                        <\/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\/21\/ahmed-ezz-ups-his-stake-in-own-company-plus-news-from-sodic-gorilla-technology-el-etreby\/\" 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\/21\/ahmed-ezz-ups-his-stake-in-own-company-plus-news-from-sodic-gorilla-technology-el-etreby\/')\">\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\/21\/ahmed-ezz-ups-his-stake-in-own-company-plus-news-from-sodic-gorilla-technology-el-etreby\/\">\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=Ahmed Ezz ups his stake in own company. 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PLUS: News from SODIC, Gorilla Technology, El Etreby\">\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=Ahmed+Ezz+ups+his+stake+in+own+company.+PLUS%3A+News+from+SODIC%2C+Gorilla+Technology%2C+El+Etreby+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F12%2F21%2Fahmed-ezz-ups-his-stake-in-own-company-plus-news-from-sodic-gorilla-technology-el-etreby%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\/21\/ahmed-ezz-ups-his-stake-in-own-company-plus-news-from-sodic-gorilla-technology-el-etreby\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1411.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612396\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/ahmed-ezz-ups-his-stake-in-own-company-plus-news-from-sodic-gorilla-technology-el-etreby\/1411-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1411.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1411.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1411.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1411.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612395\" class=\"content-area-description single-story post-612395 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-ahmed-ezz tag-also-on-our-radar tag-biofuels tag-delta-oil-for-oil-recycling tag-enterpriseam tag-ezz-steel tag-food tag-investment-watch tag-manufacturing tag-sodic 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\/.83b328ba-a1cf-4331-ba36-be0175bfafa0.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AHMED EZZ SNAPS UP ANOTHER SLICE OF EZZ STEEL: <\/strong>Steel magnate Ahmed Ezz purchased some 4 mn shares in Ezz Steel on Tuesday, a source familiar with the transaction told Enterprise following the release of an <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1408.pdf\" style=\"\" rel=\"noopener\">EGX bulletin (pdf)<\/a>. We believe Ezz purchased the shares from El Garhy Steel\u2019s Gamal El Garhy at around EGP 80 apiece at a total cost of EGP 324 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** <\/strong><strong>Who owns what?<\/strong> The transaction brings Ezz\u2019s majority stake up 0.7% to 66.4% and El Garhy\u2019s stake down to 5.2% by our math. The <a target=\"_blank\" href=\"https:\/\/www.bnymellon.com\/\" style=\"\" rel=\"noopener\">Bank of New York Mellon<\/a> owns 5.82%, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1379.pdf\" style=\"\" rel=\"noopener\">shareholder structure (pdf)<\/a> at the end of 3Q 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SODIC JOINS FORCES WITH DELTA OIL<\/strong><strong>:<\/strong> SODIC is teaming up with <a target=\"_blank\" href=\"http:\/\/www.deltaoileg.com\/\" style=\"\" rel=\"noopener\">Delta Oil for Oil<\/a><a target=\"_blank\" href=\"http:\/\/www.deltaoileg.com\/\" style=\"\" rel=\"noopener\">Recycling<\/a> startup to set up an integrated ecosystem in the country to collect used cooking oil and pass it on to refineries that can turn the waste byproduct into biodiesel. (<a target=\"_blank\" href=\"https:\/\/tinyurl.com\/5cphjv5y\" style=\"\" rel=\"noopener\">Al Mal<\/a>)<\/p>\n<p><strong>** Want to know more? <\/strong>We spoke to Delta Oiland other local companies turning used cooking oil into EGP in our weekly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/22e81fef-6d69-4cf8-9e3e-1ab2681067ac\" style=\"\" rel=\"noopener\">Going Green<\/a> deep-dive back in August.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GORILLA TECHNOLOGY SETTING UP SHOP IN EGYPT: <\/strong>British software company <a target=\"_blank\" href=\"https:\/\/www.gorilla-technology.com\/\" style=\"\" rel=\"noopener\">Gorilla Technology<\/a> will set up a new distribution company in Egypt and invest some USD 100 mn to support growth across the region. (<a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1737466826374725750?s=20\" style=\"\" rel=\"noopener\">Asharq Business<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EL ETREBY GROUP TO BUILD NEW CITRUS EXPORT STATION: <\/strong>Agricultural crop exporter <a target=\"_blank\" href=\"https:\/\/eletrebygroup.com\/en\/\" style=\"\" rel=\"noopener\">El Etreby<\/a> will invest EGP 550 mn to establish a new citrus fruit export station in Sadat City set to begin operations in 2025. (<a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/12\/19\/1747415\" style=\"\" rel=\"noopener\">Al Borsa<\/a>)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ahmed-ezz\/\">Ahmed Ezz<\/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\/biofuels\/\">biofuels<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/delta-oil-for-oil-recycling\/\">Delta Oil for Oil Recycling<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ezz-steel\/\">Ezz Steel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sodic\/\">SODIC<\/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=\"612397\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"612397\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/2023-was-good-to-tadawul\/\">\r\n                            Saudi Tadawul has risen 11% this 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\/21\/2023-was-good-to-tadawul\/\" 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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       <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/2023-was-good-to-tadawul\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1463.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612398\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/2023-was-good-to-tadawul\/1463-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1463.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1463.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1463.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1463.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612397\" class=\"content-area-description single-story post-612397 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-emerging-markets tag-enterpriseam tag-financial-markets tag-planet-finance tag-saudi-arabia tag-tadawul 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\/.9a663e57-8ccb-4223-9a04-dd7c967a2ea0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Traders are feeling grumpy in Asia this morning. <\/strong>But first: A look at Tadawul, which is closing the books on a year that sees international institutional investors finally giving a second look to one of the world\u2019s most compelling equities markets. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi\u2019s Tadawul is piquing the interest of fund managers from across the globe<\/strong>, with its benchmark index rallying 11% this year on the back of its economic diversification program, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-20\/saudi-arabia-s-transition-from-fossil-fuels-attracts-foreign-investors?srnd=premium-middle-east&amp;embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Diversification has helped change investor perceptions<\/strong><strong>. <\/strong>Banks and petrochemical players are now joined on the bourse by listings from healthcare, retail, and power companies as well as (most recently) the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d9cff8e-68d1-43bf-82ba-02186f76335b\" style=\"\" rel=\"noopener\">broadcaster MBC<\/a>. A string of IPOs since January 2022 has seen IPOs worth USD 11.5 bn go to market.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s also simply a lack of alternative EMs in which to invest:<\/strong> China\u2019s economic slowdown and Russia\u2019s exclusion from the MSCI index have played to the advantage of KSA, and Egypt belongs to domestic and retail investors right now thanks to a currency overhang.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One stumbling block to Tadawul\u2019s growth:<\/strong> The market is still geared for local investors, with foreign ownership limits set at just under 50% for most stocks. Passive inflows alone would deliver USD 7.3 bn in additional inflows if those were scrapped, Arqaam Capital\u2019s Elia Alchaar told Bloomberg. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SPEAKING OF IPOs- Low-cost airline Flynas has tapped Goldman Sachs<\/strong>, Morgan Stanley, and Saudi Fransi Capital for a potential IPO in Riyadh next year. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-20\/billionaire-backed-flynas-taps-goldman-morgan-stanley-for-ipo?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- PureHealth shares made their debut on the ADX yesterday<\/strong>, closing up 84% at AED 6.00 after opening the day at AED 3.26. Selling shareholders raised some AED 1 bn in the heavily oversubscribed sale. It was the second-largest IPO in the UAE this year after ADNOC Gas. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>FAB was lead manager and lead receiving bank of the transaction.<\/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>Asian shares are <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/12\/21\/asia-markets.html\" style=\"\" rel=\"noopener\">selling off<\/a><\/strong><strong> this morning<\/strong>, with indexes across the region following New York into the red. A late selloff on Wall Street <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/asia\/global-markets-view-asia-pix-2023-12-20\/\" style=\"\" rel=\"noopener\">set the tone<\/a> for this morning\u2019s selling: The three big Wall Street benchmarks all posted yesterday their biggest daily losses since October. Shares in Europe look set to dip at the opening bell later today, putting them on track to trim the gains they\u2019ve made in the past 10 days, futures suggest. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But: <\/strong>Futures suggest the Santa rally could resume later today in New York and Toronto.<\/p><p><a target=\"_blank\" id=\"t.0354343dea9770b21a2463dcead04c4656c85b61\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">24,838<\/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: +70.1%)<\/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-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>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\">11,703<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +11.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,482<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: -7.11%)<\/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\">4,014<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +20.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,698<\/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\">-1.5% (YTD: +22.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">7,716<\/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: +3.5%)<\/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>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\">4,534<\/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: +19.5%)<\/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>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 79.70<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.45<\/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\">-1.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,048<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 43,402<\/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\">+2.3% (YTD: +163.8%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 1.0% at yesterday\u2019s close<\/strong> on turnover of EGP 2.9 bn (10.7% below the 90-day average). Regional investors were net buyers. The index is up 70.1% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Alexandria Containers and Cargo Handling (+3.7%), E-finance (+1.6%) and Telecom Egypt (+1.4%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Edita (-3.2%), Credit Agricole (-2.8%) and B Investments Holding (-2.6%).<\/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\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tadawul\/\">Tadawul<\/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=\"612399\" 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                            \"\r\n            id=\"612399\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/my-morning-routine-magda-greiche-executive-shareholder-of-dr-greiche-glass\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1325.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612400\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/my-morning-routine-magda-greiche-executive-shareholder-of-dr-greiche-glass\/1325-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1325.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1325.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1325.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1325.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612399\" class=\"content-area-description single-story post-612399 post type-post status-publish format-standard has-post-thumbnail hentry category-uncategorized tag-dr-greiche-glass tag-enterpriseam tag-magda-greiche tag-my-morning-routine 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\/.f8182f1e-62b3-49ce-b2e3-99c00cf822af.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Magda Greiche<\/strong><strong>, <\/strong><strong>executive shareholder<\/strong><strong> of Dr Greiche Glass:<\/strong> Each week, My Morning Routine looks at how a successful member of the community starts their day \u2014 and then throws in a couple of random business questions just for fun. Speaking to us this week is Magda Greiche (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/magda-greiche-098585176\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), executive shareholder of <a target=\"_blank\" href=\"https:\/\/drgreiche.com\/\" style=\"\" rel=\"noopener\">Dr Greiche Glass<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My name is Magda Greiche and I am an executive shareholder of Dr Greiche Glass<\/strong>, a family-owned glass processing company, where I\u2019ve been working for the past 15 years. Dr Greiche Glass provides products for the construction, automotive, home appliances, and furniture industries as well as private clients. The company was established by my father in 1983. It was later managed by my mother for over 20 years before she handed CEO responsibility to my brother in 2020.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our edge is our variety: <\/strong>I think what keeps us number one is our variety of processing, which allows us to address different industries. The second thing is our consistency and constantly striving to produce quality glass that is safe, while maintaining design. Despite the challenges we\u2019ve faced, we\u2019ve managed to keep growing and maintain our position as a market and regional leader in the industry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My days are very normal:<\/strong> Within the business, I am the head of the architectural glass division, leading operations, sales, and management. I work from our 10th of Ramadan headquarters or from our Cairo office and split my time between meetings, emails, or site and client visits. I make sure that I take at least half an hour for lunch, often with my brother or my mother. It\u2019s a time when we catch up on important issues, but some days I don\u2019t have time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Family-run businesses have an added layer of complexity: <\/strong>Working within a family business can be challenging if the proper governance, structure, and clarity regarding roles and responsibilities are not in place, because what you do at work you take home. Yet, it\u2019s something I believe can help companies to grow in a healthier and faster way.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s always something happening:<\/strong> When it gets too overwhelming, I take a couple of minutes to be mindful and remind myself of my priorities. Pens, paper and calendars are always the best ways to remain organized. I write to diffuse all my thoughts, so that when I look at them, I let go of what\u2019s not important and refocus on the key issues for the rest of the day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I start my days at 6:30am <\/strong>and the first thing I do is drink my coffee and take time to organize and reflect on my day. Then, I move on to shaking off these thoughts with a workout and afterwards, comes what I call the learning part of my morning, reading the news or checking Enterprise. I think morning routines are great, but they\u2019re also very limiting, because you can get obsessed. Occasionally, it\u2019s good to break the routine or adapt it so it doesn\u2019t become controlling. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A work-life balance is really impossible:<\/strong> You have your personal life, work, health, friends, and family and you want to invest in them all the time, but we can\u2019t have a balance of everything. Instead, it\u2019s a conscious decision as to where you\u2019re going to focus your next hours or your day. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The part I enjoy most about my job is product development<\/strong>, especially when we have sophisticated projects or clients with uncommon requirements that need bespoke solutions. It\u2019s a time when we try to bring people together, locally or from abroad, and often allows us to discover new talent in the market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The glass industry is moving towards combining tech and the environment:<\/strong> Like everything else, glass is becoming smart. Around the world there are manufacturers working with their clients to develop smart glass solutions for vehicles or buildings and home appliances, where glass plays an interactive role in preserving and generating energy and enhancing privacy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Design also remains important: <\/strong>Clients want the places they live in to be spacious and to have a lot of light in terms of their construction, meaning they want gigantic pieces of glass. This is where I think we are more advanced than others in the market, as Dr Greiche Glass has a new sheet of glass that is six meters in length.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I have just earned my executive MBA from IMD Business School in Switzerland <\/strong>\u2014 a really refreshing experience that exposed me to a diversity of thoughts and perspectives \u2014 so I\u2019ve been considering what I\u2019m going to do next in the company. I\u2019m in the process of deciding between taking on a bigger role at Dr Greiche Glass beyond the construction sector or taking on entrepreneurial ideas linked to the glass industry on behalf of my family. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Switching off is all about taking time for myself: <\/strong>I am a very resilient female leader and an introspective person who can spend a lot of time on my own, yet I know how to balance that with sociability. Outside of work, I need to recharge on my own, but I also meet up with friends, usually for a couple of hours because I sleep very early. When I\u2019m not working, I love to travel and can spend hours wandering around the streets of a city, contemplating architecture.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019ve been given so much advice over the years<\/strong>, but the piece that stays fresh with me is from one of my professors at IMD, Anand Narasimhan. He said, \u201cwe do not learn from the experiences we live. We learn from reflecting on those experiences.\u201d Sometimes we just live, we may think of our goals, but we don't reflect on what we have done. I think reflection is where the most learning and the most self growth happens.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dr-greiche-glass\/\">Dr Greiche Glass<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/magda-greiche\/\">Magda Greiche<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"612401\" 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\/21\/612401\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612401\" class=\"content-area-description single-story post-612401 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;\">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 style=\"font-weight:400;\">1 January (Monday): Private-sector minimum wage to rise to EGP 3.5k 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>9 January (Tuesday): B Investments\u2019 <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/12\/1248.pdf\" style=\"\">general assembly (pdf)<\/a><\/span><span> to look into capital increase ahead of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a461dfe3-788c-4372-a4f4-12d212a4f53e\" style=\"\">Orascom Financial Holding (OFH) acquisition<\/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;\">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 style=\"font-weight:400;\"> 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 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: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 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>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\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>Interest rate day | Another green hydrogen plant | EBRD funding.<\/p>\n","protected":false},"featured_media":612367,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-612366","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"65998d91-1184-442f-b4a0-828758612d34","teaser":"Interest rate day | Another green hydrogen plant | EBRD funding.","photo_url":"https:\/\/ent.news\/2023\/12\/1467.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>State wraps sale of historic hotel group to a unit of TMG - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/state-wraps-sale-of-historic-hotel-group-to-a-unit-of-tmg\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State wraps sale of historic hotel group to a unit of TMG\" \/>\n<meta property=\"og:description\" content=\"Interest rate day | Another green hydrogen plant | EBRD funding.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/state-wraps-sale-of-historic-hotel-group-to-a-unit-of-tmg\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM 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