{"id":612775,"date":"2024-01-02T00:00:00","date_gmt":"2024-01-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=612775"},"modified":"2025-12-17T02:58:44","modified_gmt":"2025-12-17T02:58:44","slug":"kicking-off-the-new-year-with-fresh-price-hikes","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/kicking-off-the-new-year-with-fresh-price-hikes\/","title":{"rendered":"Kicking off the New Year with fresh price hikes"},"content":{"rendered":"<section id=\"612777\" 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=\"612777\">\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\/2024\/01\/02\/2024-is-already-shaping-up-to-be-a-busy-year\/\">\r\n                            2024 is already shaping up to be a busy 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\/2024\/01\/02\/2024-is-already-shaping-up-to-be-a-busy-year\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/2024-is-already-shaping-up-to-be-a-busy-year\/1806-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1806.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1806.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1806.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1806.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612777\" class=\"content-area-description single-story post-612777 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-central-bank-of-egypt tag-enterpriseam tag-green-hydrogen tag-instapay 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\/2024\/1\/.f9213328-61bf-4988-929f-3fbf325a0aff.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people. <\/strong>We have an issue packed with macro and business news for you this morning to start the year at a high note.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WE\u2019RE KICKING OFF A NEW MONTH- <\/strong>Here are the key news triggers on which to your eyes on during the first few weeks of January as we ring in the new year:<\/p><ul>\n<li><strong>PMI: <\/strong>S&amp;P Global will publish Egypt\u2019s PMI figures for December on Thursday.<\/li>\n<li><strong>Inflation: <\/strong>Capmas and the CBE will publish the latest inflation data on Wednesday, 10 January. <\/li>\n<li><strong>Foreign reserves: <\/strong>The central bank should release December\u2019s foreign reserves figures this week. <\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** The CBE\u2019s Monetary Policy Co<\/strong><strong>mmittee will not be meeting this month<\/strong>, with its first meeting of the year scheduled for 1 February. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>PSA #1- We have a long week<\/strong><strong>end ahead: <\/strong>Sunday, 7 January, will be a public holiday for both the public and private sectors in observance of Coptic Christmas, Prime Minister Moustafa Madbouly said in a <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/3spe248z\" style=\"\" rel=\"noopener\">statement<\/a> on Sunday. You can expect the central bank and the EGX to follow suit. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PSA #2- Your little ones now need <\/strong><strong>official permission before leaving the country <\/strong><strong>alone: <\/strong>Egyptian minors under the age of 18 are no longer allowed to leave the country without being accompanied by their guardians unless they obtain prior permission from the Interior Ministry\u2019s Passports and Emigration Administration, EgyptAir said in a <a target=\"_blank\" href=\"https:\/\/www.egyptair.com\/en\/about-egyptair\/news-and-press\/Pages\/IMMIGRATION%20RULES%20FOR%20MINORS%20TRAVELLING%20FROM%20Egypt%20ALONE%20WITHOUT%20THEIR%20PARENTS.aspx\" style=\"\" rel=\"noopener\">statement<\/a>. The statement did not detail how the process of obtaining permission will work.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PSA #3- The government\u2019s decision to raise the minimum wage went into effect<\/strong><strong> yesterday: <\/strong>The national minimum wage has now risen 17% to EGP 3.5k a month from EGP 3k \u2014 a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e541aa1-a231-4a7f-aac2-dc65c69a314f\" style=\"\" rel=\"noopener\">decision<\/a> that was made official last month \u2014 to cushion the impact of soaring inflation on low-income households.<\/p><p class=\"tag-border-left\">THE BIG STORIES HERE AT HOME- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>El Sisi holds economy-centere<\/strong><strong>d meeting:<\/strong>President Abdel Fattah El Sisi met with Prime Minister Moustafa Madbouly and CBE Governor Hassan Abdalla on Sunday to discuss the economy, the global economic situation, and the country\u2019s banking sector, according to an Ittihadiya <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/3a3wc2ek\" style=\"\" rel=\"noopener\">statement<\/a>. The readout emphasized the state\u2019s digital transformation and financial inclusion drive, but did not get into issues of foreign exchange, monetary, or fiscal policy.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- Egypt is now officially a member of Brics: <\/strong>Brics began the New Year by welcoming five new members to its ranks. Egypt along with Saudi Arabia, the UAE, Iran, and Ethiopia are now full members of the economic alliance after being <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/625a6a24-800b-46c9-b6ea-6a1158ee3640\" style=\"\" rel=\"noopener\">invited<\/a> to join during the groups annual conference last August.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** With five new members joining the group, Brics may need a new extended acronym<\/strong> and we\u2019re open to your suggestions.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#3- InstaPay will remain available with<\/strong><strong> no fees for a little bit longer:<\/strong> The central bank has pushed back the decision to impose fees on transactions made through its digital payment platform InstaPay, it said in a <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/news-publications\/news\/2023\/12\/28\/17\/15\/central-bank-of-egypt-issues-new-decrees-to-support-the-digital-transformation-strategy\" style=\"\" rel=\"noopener\">statement<\/a> last week. The central bank has also exempt customers from \u201call fees and commissions related to bank transfer services executed via electronic channels in EGP.\u201d The bank did not disclose when these exemptions would expire. <\/p><p class=\"tag-border-left\">HAPPENING TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong> #1- The House is back in session: <\/strong>MPs will reconvene after a nearly two-week break to debate and vote on a set of green hydrogen incentives <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d480f84e-d43d-46d3-99b4-af52b7947e13\" style=\"\" rel=\"noopener\">approved<\/a> by the House Energy and Environment Committee last week that will give tax breaks and other incentives to investors. The House will also vote on amendments that could enable foreign investors to own desert land and own more than 51% of companies that invest in desert land development.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Transport Ministry is hosting <\/strong><strong>a <\/strong><strong><a target=\"_blank\" href=\"http:\/\/tinyurl.com\/much4my5\" style=\"\" rel=\"noopener\">yacht-tourism centered conference<\/a><\/strong>, bringing together investors interested in yacht tourism or setting up marinas, as well as those with investments in areas overlooking the Mediterranean, Red Sea, or Gulf of Suez. The one-day conference kicks off at 10am at the Transport Ministry\u2019s HQ in the new capital. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** We have the full rundown on the state<\/strong><strong>\u2019s efforts towards turning Egypt into a yacht tourism <\/strong><strong>destination in our <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/54f273c2-39d4-4c3e-b02c-f28fcf9b377c\" style=\"\" rel=\"noopener\">Hardhat here<\/a><\/strong><strong>.<\/strong><\/p><p class=\"tag-border-left\">EGX WATCH- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EGX30 sees biggest annual gain since 2016:<\/strong> The Egyptian Stock Exchange\u2019s blue-chip index advanced 0.8% on Sunday \u2014 the last day of trading of 2023 \u2014 extending the EGX30\u2019s 2023 gains to 70.5%, as investors look to stocks as a hedge against high inflation and a weakening EGP, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/egyptian-bourse-registers-biggest-annual-gain-since-2016-2023-12-31\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. <\/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\/2024\/1\/39.jpg?ssl=1\"><\/a> <\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel\u2019s supreme court supreme court struck down a controversial law yesterday<\/strong> passed by Israeli PM Benjamin Netanyahu\u2019s government to limit judicial authorities over the government. The court blocked the law with a slim 8-7 majority that argued that the proposed law posed a threat to Israel's \u201cdemocratic\u201d nature. Before Israel\u2019s war on Gaza, Netanyahu had faced months of public protest calling on him to repeal the law and dissent from senior figures in the IDF because of the proposed law. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israels-supreme-court-strikes-down-disputed-law-that-limited-court-oversight-2024-01-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-01\/israel-s-top-court-overturns-netanyahu-s-judicial-oversight-law?srnd=middle-east-politics\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d8065b6f-4c7e-450b-aafd-3c78924e70b5\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/01\/01\/world\/middleeast\/israel-supreme-court-netanyahu.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2024\/01\/01\/israel-supreme-court-judicial-reform-netanyahu\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-supreme-court-judicial-overhaul-78733a94428b8b9f2c311ee6779eba23\" style=\"\" rel=\"noopener\">Associated Press<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>Japan jolted by a mighty quake on day one of 2024: <\/strong>A 7.6 magnitude earthquake rattled central Japan yesterday, claiming four lives and destroying dozens of buildings on the country\u2019s western coast. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WAR WATCH- <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel wants full control of the Egypt-Gaza border,<\/strong> Prime Minister Benjamin Netenyahu said on Saturday, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/fighting-between-israeli-forces-hamas-rages-after-nearly-200-killed-gaza-2023-12-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported. \u201cThe Philadelphi Corridor \u2014 or to put it more correctly, the southern closing point (of Gaza) - must be in our hands. It must be shut. It is clear that any other arrangement would not ensure the demilitarization that we seek.\" <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2021\/03\/INFINITY-Top-banner-EN-1600x675-v2-02.png\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We take a look at the center bringing renewable energy expertise to Egyptian university students<\/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\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/instapay\/\">InstaPay<\/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=\"612779 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=\"612779\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/612779\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612779\" class=\"content-area-description single-story post-612779 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\/2024\/1\/17.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=\"612780\" 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=\"612780\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/mafi-inks-contracts-for-usd-300-mn-agri-food-industrial-complex\/\">\r\n                            MAFI inks contracts for USD 300 mn agri-food industrial complex in Egypt\u2019s Sadat City                        <\/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\/2024\/01\/02\/mafi-inks-contracts-for-usd-300-mn-agri-food-industrial-complex\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" 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href=\"https:\/\/api.whatsapp.com\/send?text=MAFI+inks+contracts+for+USD+300+mn+agri-food+industrial+complex+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F02%2Fmafi-inks-contracts-for-usd-300-mn-agri-food-industrial-complex%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\/2024\/01\/02\/mafi-inks-contracts-for-usd-300-mn-agri-food-industrial-complex\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/62.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612781\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/mafi-inks-contracts-for-usd-300-mn-agri-food-industrial-complex\/62-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/62.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"62.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/62.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/62.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612780\" class=\"content-area-description single-story post-612780 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-beltone-financial tag-beltone-investment-banking tag-enterpriseam tag-food tag-investment-watch tag-mafi tag-manufacturing 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\/.4e5edd3c-f352-4852-a15a-69b6040b53cd.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Middle East's largest agri-food industrial complex is coming to Sadat City:<\/strong> MAFI Agricultural Produce Industries (MAFI) founder Ahmed Abou Hashima signed contracts with several international companies to set up a USD 300 mn agri-food industrial complex run by MAFI in Sadat City, according to a cabinet statement <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0ZemEsnkJ3Mdpu2sAz41aKacW7JLMdea7LuNew6ucSX6wRGHS33fkPtSLxFgVzuRWl\" style=\"\" rel=\"noopener\">last week<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The complex in <a target=\"_blank\" href=\"https:\/\/elsewedydevelopment.com\/opportunities\/industria-sadat\/\" style=\"\" rel=\"noopener\">Elsewedy Industrial Development\u2019s industrial park<\/a> is slated to be the largest in the Middle East and could create as many as 7k direct and indirect jobs. The project will produce 100k tons of agri-food products annually in its first phase, with more than 80% of the production earmarked for export, the cabinet statement reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The complex will be home to five factories:<\/strong><\/p>\n<ul>\n<li>The largest factory in Egypt for tomato concentrates;<\/li>\n<li>The largest plant in Egypt for citrus concentrates;<\/li>\n<li>The first individual quick-freezing facility in Egypt;<\/li>\n<li>The first factory for cloudy concentrates in the region;<\/li>\n<li>A freeze-drying products plant.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All eyes are on exports: <\/strong>Beltone Investment Banking \u2014 MAFI\u2019s sole financial advisor \u2014 and established industrial investor Abou Hashima explored several export-oriented industries, before settling on the fully-integrated food processing complex, Betlone\u2019s group deputy CEO and head of investment banking, Mohamed Aboulfadl told Enterprise. The new complex will also help Egypt climb the value chain by exporting value-added food products in larger volumes, instead of just exporting raw produce, Aboulfadl added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>Before the relatively recent (and ongoing) buildout of logistics and cold-chain infrastructure, as much as half of all produce grown in Upper Egypt and some other parts of the country would spoil on the way to market in Cairo. On the value chain side: We are world-class exporters of citrus, strawberries, and other fruits, but have struggled to gain a foothold in value-added products. Abou Hashima rose to prominence as an entrepreneur with high-profile investments in Egyptian Cement and Egyptian Steel. Egypt\u2019s agriculture and agrifoods businesses are notorious underperformers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FDI incoming: <\/strong>The new complex is a partnership between Abou Hashima and a \u201cforeign partner\u201d who will bring the vast majority of equity contribution as a foreign direct investment. Beltone Investment Banking is currently working with MAFI to raise international and local debt financing, Aboulfadl added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More to come: <\/strong>The complex is expected to be operational within 18 months, with a plan to expand the capacity of the five factories and add more factories in a second phase. The complex is targeting B2B clients mainly in Europe, the US, and GCC, Aboulfadl added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who is involved: <\/strong>The project, on which <strong>Beltone Investment<\/strong><strong> Banking <\/strong>is advisor, brings together some of the world\u2019s big names in agri-food business processing solutions as technology providers, including Germany\u2019s <strong><a target=\"_blank\" href=\"https:\/\/www.gea.com\/en\/index.jsp\" style=\"\" rel=\"noopener\">GEA<\/a><\/strong>, Chicago-based <strong><a target=\"_blank\" href=\"https:\/\/www.jbtc.com\/\" style=\"\" rel=\"noopener\">JBT<\/a><\/strong>, and Denmark\u2019s<strong><a target=\"_blank\" href=\"https:\/\/www.cabinplant.com\/\" style=\"\" rel=\"noopener\">Cabinplant<\/a><\/strong>. <strong>Boston Consulting Group<\/strong> acted as the market advisor for MAFI. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Go deeper: <\/strong>Beltone has a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/63.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> out on the project.<\/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\/beltone-financial\/\">Beltone Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone-investment-banking\/\">Beltone Investment Banking<\/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\/mafi\/\">MAFI<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"612782\" 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=\"612782\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/2024-is-already-shaping-up-to-be-an-expensive-year-as-egyptian-regulators-allow-new-price-hikes\/\">\r\n                            2024 is already shaping up to be an expensive year for Egyptians as Metro, railway, telecoms companies hike prices                        <\/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        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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/149.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"149.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/149.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/149.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612782\" class=\"content-area-description single-story post-612782 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-metro tag-railways tag-retail 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\/.6f01e430-ff25-4f36-b26e-64ec7f79be48.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The government is ringing in the New Year with a series of price hikes<\/strong> for several public and private services and utilities, as it tries to boost its public revenues without addressing the float\/devaluation question just yet.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Your mobile bill is going up: <\/strong>Mobile network operators are reportedly raising their prices between 10-16%, marking the first increase in mobile services since 2017, <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/y8e737nr\" style=\"\" rel=\"noopener\">Asharq News<\/a> reports. This came after the National Telecom Regulatory Authority (NTRA) greenlit the move, an unnamed NTRA official reportedly said. <\/p>\n<ul>\n<li><strong>Etisalat Egypt<\/strong> has increased its monthly subscription costs by 15% as of yesterday;<\/li>\n<li><strong>WE <\/strong>has raised the prices of its services 10-15%;<\/li>\n<li><strong>Orange <\/strong>is increasing the price of its monthly packages by about 16% starting next month;<\/li>\n<li><strong>Vodafone <\/strong>has notified its customers of an increase in prices starting February.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Internet providers are in hot pursuit with price hikes of their own: <\/strong>WE has also hiked the prices of its internet subscription packages by 29% to 33%, according to <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/01\/01\/1752075\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. Expect other carriers to follow suit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>Metro fares are also ge<\/strong><strong>tting pricier <\/strong>after the Transport Ministry raised ticket prices by up to 20% on Monday. Tickets now run EGP 6-15 depending on how far your destination is, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/01\/01\/1751792\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Jumping on the train is also going to cost you considerably more: <\/strong>The National Railways Authority put in place ticket price hikes ranging between 10% to 25% starting yesterday, according to <a target=\"_blank\" href=\"https:\/\/www.vetogate.com\/5055875\" style=\"\" rel=\"noopener\">Veto<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Car registration fees are also set for an increase: <\/strong>Owners and private vehicles and taxis will soon face new fees to register their vehicles, according to <a target=\"_blank\" href=\"https:\/\/www.cairo24.com\/1930087\" style=\"\" rel=\"noopener\">Cairo 24<\/a>, citing an unnamed source at the Real Estate Registration and Documentation Authority.<\/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\/metro\/\">metro<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/railways\/\">railways<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/retail\/\">retail<\/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=\"612784\" 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=\"612784\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/govt-sets-market-controls-for-seven-commodities-in-bid-to-tackle-hoarding\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/46.JPG?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612785\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/govt-sets-market-controls-for-seven-commodities-in-bid-to-tackle-hoarding\/46-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/46.JPG?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"46.JPG\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/46.JPG?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/46.JPG?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612784\" class=\"content-area-description single-story post-612784 post type-post status-publish format-standard has-post-thumbnail hentry category-uncategorized tag-commodities tag-enterpriseam tag-food tag-food-prices tag-gasc tag-retail 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\/.bbeea757-ef33-4ee0-affc-f3c1503479e3.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">New year, new regulations:<\/strong><span style=\"background-color: transparent;\"> Blended oil, fava beans, rice, milk,sugar, pasta, and white cheese are now designated as strategic commodities following a decision issued by Prime Minister Mostafa Madbouly, according to a cabinet <\/span><a target=\"_blank\" href=\"http:\/\/tinyurl.com\/3hjc4yum\" rel=\"noopener\">statement<\/a><span style=\"background-color: transparent;\"> on Saturday. It is now prohibited to withhold these commodities from the market in an effort to tackle hoarding and price gouging. The decision will be enforced for a 6-month period or until further notice, the statement read.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MRPs?<\/strong> The maximum retail price (MRP) will also be printed on the seven newly designated strategic commodities, according to a separate decree from the Supply Ministry <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/bduwapr2\" style=\"\" rel=\"noopener\">issued<\/a> on Sunday. Producers, importers, suppliers, and packaging companies are also now required to issue sales invoices when dealing in these commodities that state the MRP, factory price, quantity, and production date of the product.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al<\/strong><strong>ready paying off? <\/strong>Rice prices have started declining immediately after the Madbouly\u2019s decision to stamp rice as a strategic commodity, with prices per ton reportedly seeing between EGP 200-700 drops, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/01\/01\/1752027%5C\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing several sources from the industry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Commodities such as sugar and onions saw their <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/280b9a88-c11d-4f40-a8a1-c5fd5aeee897\" style=\"\" rel=\"noopener\">prices soar<\/a> amid supply shortages near the end of last year, which the government said was driven by the ongoing FX shortage and hoarding.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- GASC scraps wheat tender: <\/strong>GASC canceled an international wheat tender held on Thursday, <a target=\"_blank\" href=\"https:\/\/www.nasdaq.com\/articles\/egypts-gasc-cancels-wheat-tender-no-purchase-made\" style=\"\" rel=\"noopener\">Reuters<\/a> reported. The state grain buyer gave no reason for the cancellation, but traders believe that the prices offered were too high. GASC also reportedly scrapped a rice tender it had awarded last month to an Indian company to buy 60k tonnes of Indian rice for USD 600 a ton because of the high price tag, a Supply Ministry source told Al Borsa.<\/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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food-prices\/\">food prices<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gasc\/\">GASC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/retail\/\">retail<\/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=\"612786\" 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=\"612786\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/egypts-net-foreign-liabilities-improve-slightly-in-november\/\">\r\n                            Egypt\u2019s net foreign liabilities improve slightly in November                        <\/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\/2024\/01\/02\/egypts-net-foreign-liabilities-improve-slightly-in-november\/\" 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\/2024\/01\/02\/egypts-net-foreign-liabilities-improve-slightly-in-november\/')\">\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\/2024\/01\/02\/egypts-net-foreign-liabilities-improve-slightly-in-november\/\">\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=Egypt\u2019s net foreign liabilities improve slightly in November&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/egypts-net-foreign-liabilities-improve-slightly-in-november\/\">\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\/2024\/01\/02\/egypts-net-foreign-liabilities-improve-slightly-in-november\/&title=Egypt\u2019s net foreign liabilities improve slightly in November\">\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=Egypt%E2%80%99s+net+foreign+liabilities+improve+slightly+in+November+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F02%2Fegypts-net-foreign-liabilities-improve-slightly-in-november%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\/2024\/01\/02\/egypts-net-foreign-liabilities-improve-slightly-in-november\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1521.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612787\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/egypts-net-foreign-liabilities-improve-slightly-in-november\/1521-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1521.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1521.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1521.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1521.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612786\" class=\"content-area-description single-story post-612786 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-central-bank-of-egypt tag-economy tag-enterpriseam tag-foreign-exchange 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\/.96cadf03-2ac5-42e6-8360-8f779c4d24e6.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt\u2019s<\/strong><strong> net foreign liabilities <\/strong><strong>eased slightly in November<\/strong> on the back of a turn around in the central bank\u2019s net foreign assets. Our net foreign asset deficit narrowed to USD 27 bn from a record high of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/58e9ec1e-7921-4ec2-8a7a-861d5c2dca6a\" style=\"\" rel=\"noopener\">USD 27.2 bn in October<\/a>, according to Enterprise calculations based on <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/54.PNG\" style=\"\" rel=\"noopener\">Central Bank of Egypt figures<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The CBE\u2019s net foreign assets saw a marginal improvemen<\/strong><strong>t<\/strong> to negative USD 11.2 bn last month from negative USD 11.3 bn in October, the figures showed. This marks a reversal from November when the central bank\u2019s net foreign assets deficit widened on the previous month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FX liquidity in the banking system continued<\/strong><strong> to record improvements,<\/strong> with net foreign assets in commercial banks narrowing to negative USD 15.8 bn in November, compared to negative USD 15.9 bn in October, after having already dropped from negative USD 16.4 bn in September.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/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=\"612788\" 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=\"612788\">\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\">Logistics<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/maersk-once-again-pauses-red-sea-traffic-after-another-houthi-attack\/\">\r\n                            Maersk once again pauses Red Sea traffic after another Houthi attack                        <\/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\/2024\/01\/02\/maersk-once-again-pauses-red-sea-traffic-after-another-houthi-attack\/\" 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\/2024\/01\/02\/maersk-once-again-pauses-red-sea-traffic-after-another-houthi-attack\/')\">\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\/2024\/01\/02\/maersk-once-again-pauses-red-sea-traffic-after-another-houthi-attack\/\">\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=Maersk once again pauses Red Sea traffic after another Houthi attack&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/maersk-once-again-pauses-red-sea-traffic-after-another-houthi-attack\/\">\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\/2024\/01\/02\/maersk-once-again-pauses-red-sea-traffic-after-another-houthi-attack\/&title=Maersk once again pauses Red Sea traffic after another Houthi attack\">\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=Maersk+once+again+pauses+Red+Sea+traffic+after+another+Houthi+attack+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F02%2Fmaersk-once-again-pauses-red-sea-traffic-after-another-houthi-attack%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\/2024\/01\/02\/maersk-once-again-pauses-red-sea-traffic-after-another-houthi-attack\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/76.JPG?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612789\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/maersk-once-again-pauses-red-sea-traffic-after-another-houthi-attack\/76-jpg-24\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/76.JPG?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"76.JPG\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/76.JPG?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/76.JPG?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612788\" class=\"content-area-description single-story post-612788 post type-post status-publish format-standard has-post-thumbnail hentry category-logistics tag-enterpriseam tag-logistics tag-maersk tag-middle-east-politics tag-suez-canal 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\/.7378f443-9ed0-41af-9948-a1350a6b6482.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Houthi attacks continue to scare away shipping companies: <\/strong>AP Moller-Maersk \u2014 the world\u2019s second-largest shipping line \u2014 has once again paused all transit through the Red Sea and Gulf of Aden after the Iran-backed Houthis launched attacks on one of its vessels, the company said in a <a target=\"_blank\" href=\"https:\/\/www.maersk.com.cn\/news\/articles\/2023\/12\/15\/maersk-operations-through-red-sea-gulf-of-aden\" style=\"\" rel=\"noopener\">statement<\/a> on Sunday. US navy helicopters stepped in to retaliate, sinking three Houthi vessels and killing 10 militants, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/maersk-pauses-red-sea-sailings-after-houthi-attack-container-ship-2023-12-31\/#:~:text=COPENHAGEN%2FDUBAI%2FCAIRO%2C%20Dec,and%20Houthi%20officials%20on%20Sunday.\" style=\"\" rel=\"noopener\">Reuters<\/a> reported. The company is expected to issue a status update later today. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>This comes just one week after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bece168c-0559-49e1-a0ae-f2e1ef731416\" style=\"\" rel=\"noopener\">Maersk said<\/a> it would resume operations in the Red Sea under the protection of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad68fc23-5738-4674-9dc1-4a506e1c89b4\" style=\"\" rel=\"noopener\">US-led naval coalition<\/a>, which promised to patrol the area. AP Moller-Maersk, Hapag-Lloyd, CMA CGM, and many other international shipping companies last month announced that they will be <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7012e03f-8dda-4b2a-ae40-ba7144b132a8\" style=\"\" rel=\"noopener\">pausing transit<\/a> through the Red Sea following repeated attacks from Yemen\u2019s armed Houthi group on passing vessels.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hapag-Lloyd remains reluctant to return to the Red Sea: <\/strong>The German shipping giant will continue to reroute its vessels away from the Red Sea, with a situation reassessment due today, <a target=\"_blank\" href=\"https:\/\/uk.finance.yahoo.com\/news\/hapag-lloyd-continue-divert-vessels-104511338.html?guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAJ29hyOqiw2jQGu1Do8RoJBOt1MkEGzqKBPgkIDHjsfRitWG7_965ypco_lGDqHfCghTtEyD8-A6bqiCDLFvQ_tUzjni1RCyv-I_UVKlgy70DWbFymn41hpaDxMsmMC1b67tQWnG9waebvEruekXaUBeA7txY5TpxU7UP6qNL-FR&guccounter=2\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Japan\u2019s two largest carriers \u2014 Mitsui OSK Lines and Nippon Yusen \u2014 have been rerouting vessels with ties to Israel away from the Red Sea.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But some shipping companies are looking to restart operations: <\/strong>Taiwan\u2019s Evergreen is preparing to resume transit through the Suez Canal this week, according to the <a target=\"_blank\" href=\"https:\/\/awp.net\/ar\/stories\/msadr-mlahyt-l-awp-shrkta-shhn-bhry-tkhtran-qnat-alswys-almsryt-balewdt-llmmr-almlahy-fy-alayam-almqblt\/\" style=\"\" rel=\"noopener\">Arab World News Agency<\/a>. While French shipping giant CMA CGM has reportedly notified the Suez Canal it will also be returning in the coming days, according to the regional news outlet.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ships steaming away from the Suez Canal will deliver a hit to our FX position when we<\/strong><strong> can least afford it.<\/strong> By some estimates, the Suez Canal Authority lost USD 15-20 mn every day that the canal was not navigable after the Ever Given ran aground.<\/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\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maersk\/\">Maersk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/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=\"612790\" 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=\"612790\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/chinese-luggage-company-inks-agreement-for-usd-50-mn-factory\/\">\r\n                            Chinese luggage company inks agreement for USD 50 mn factory in Egypt\u2019s West Qantara Industrial 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\/2024\/01\/02\/chinese-luggage-company-inks-agreement-for-usd-50-mn-factory\/\" 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\/2024\/01\/02\/chinese-luggage-company-inks-agreement-for-usd-50-mn-factory\/')\">\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\/2024\/01\/02\/chinese-luggage-company-inks-agreement-for-usd-50-mn-factory\/\">\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=Chinese luggage company inks agreement for USD 50 mn factory&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/chinese-luggage-company-inks-agreement-for-usd-50-mn-factory\/\">\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\/2024\/01\/02\/chinese-luggage-company-inks-agreement-for-usd-50-mn-factory\/&title=Chinese luggage company inks agreement for USD 50 mn factory\">\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=Chinese+luggage+company+inks+agreement+for+USD+50+mn+factory+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F02%2Fchinese-luggage-company-inks-agreement-for-usd-50-mn-factory%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\/2024\/01\/02\/chinese-luggage-company-inks-agreement-for-usd-50-mn-factory\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/53.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612791\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/chinese-luggage-company-inks-agreement-for-usd-50-mn-factory\/53-jpg-33\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/53.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"53.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/53.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/53.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612790\" class=\"content-area-description single-story post-612790 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-china tag-egypt-china-relations tag-enterpriseam tag-manufacturing tag-suez-canal-economic-zone tag-west-qantara-industrial-zone 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\/.b384f361-1e73-4e27-9084-ad5279eef9de.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Samsonite bags made in E<\/strong><strong>gypt? <\/strong>The Suez Canal Economic Zone (SCZone) signed an agreement with Chinese luggage manufacturer <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/profile\/company\/AAFTWZ:CH\" style=\"\" rel=\"noopener\">Hangzhou Henneway Travel Goods<\/a> \u2014 whose client brands include Samsonite, Swissgear, Travelite, and Delsey \u2014 to build a USD 50 mn factory, according to a cabinet <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/34f7s5jn\" 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 details:<\/strong> The 120k-sqm factory will be located in the West Qantara Industrial Zone in Ismailia. The factory will create some 2k jobs and production is expected to kick off in 1Q 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investors have been loving the West Qanta<\/strong><strong>ra Industrial Zone: <\/strong>The first phase of the zone has garnered around USD 1.1 bn in investments from 11 projects manufacturing a variety of products \u2014 textiles, medical devices, sportswear, and readymade garments, SCZone head Walid Gamal El Din said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Especially Chinese investors: <\/strong>Back in October, the SCZone inked agreements with a number of Chinese companies to establish textile projects worth a combined <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8538fab0-92d9-4745-8e06-ed30bf2b0923\" style=\"\" rel=\"noopener\">USD 101.3 mn in investments<\/a> in the West Qantara Industrial Zone.<\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-china-relations\/\">Egypt-China relations<\/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\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/west-qantara-industrial-zone\/\">West Qantara Industrial 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=\"612792\" 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=\"612792\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/securitization-market-grew-2x-in-2023-amid-financial-services-boom\/\">\r\n                            Egypt\u2019s market for securitized debt grew 2x in 2023 amid financial services boom                        <\/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\/2024\/01\/02\/securitization-market-grew-2x-in-2023-amid-financial-services-boom\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" 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market grew 2x in 2023 amid financial services boom&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/securitization-market-grew-2x-in-2023-amid-financial-services-boom\/\">\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\/2024\/01\/02\/securitization-market-grew-2x-in-2023-amid-financial-services-boom\/&title=Securitization market grew 2x in 2023 amid financial services boom\">\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=Securitization+market+grew+2x+in+2023+amid+financial+services+boom+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F02%2Fsecuritization-market-grew-2x-in-2023-amid-financial-services-boom%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\/2024\/01\/02\/securitization-market-grew-2x-in-2023-amid-financial-services-boom\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1609.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612793\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/securitization-market-grew-2x-in-2023-amid-financial-services-boom\/1609-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1609.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1609.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1609.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1609.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612792\" class=\"content-area-description single-story post-612792 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-aman-financial-services tag-bedaya-mortgage-finance tag-ci-capital tag-contact-financial tag-corplease tag-debt tag-debt-watch tag-enterpriseam tag-gb-corp tag-gb-lease tag-one-finance tag-rawasi tag-raya-holding tag-securitization wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.4265fbaf-6da6-42fc-bb8f-917c36fd177d.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The end-of-year securitizatio<\/strong><strong>n rush has finally come to a close<\/strong>, with companies ringing out 2023 with another EGP 9.8 bn worth of securitized bond issuances before the New Year \u2014 courtesy of <a target=\"_blank\" href=\"https:\/\/www.cicapital.com\/business_lines\/leasing\/\" style=\"\" rel=\"noopener\">Corplease<\/a>, <a target=\"_blank\" href=\"https:\/\/aman.eg\/\" style=\"\" rel=\"noopener\">Aman<\/a>, <a target=\"_blank\" href=\"https:\/\/gb-corporation.com\/\" style=\"\" rel=\"noopener\">GB Corp<\/a>, <a target=\"_blank\" href=\"https:\/\/contact.eg\/\" style=\"\" rel=\"noopener\">Contact Financial Holding<\/a>, <a target=\"_blank\" href=\"https:\/\/www.bedayamortgage.com\/\" style=\"\" rel=\"noopener\">Bedaya Mortgage Finance<\/a>, <a target=\"_blank\" href=\"https:\/\/rwasey.com\/en\/\" style=\"\" rel=\"noopener\">Rawasi<\/a><a target=\"_blank\" href=\"https:\/\/rwasey.com\/en\/\" style=\"\" rel=\"noopener\">for Urban Development<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.onefinance.com.eg\/\" style=\"\" rel=\"noopener\">One Finance<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT- <\/strong>The issuances bring the total value of securitized bonds issued in Egypt in 2023 to around EGP 96.1 bn \u2014 more than double the EGP 45.4 bn securitized bonds issued in 2022, according to data tracked by Enterprise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CORPLEASE CLOSES EGP 3.2 BN ISSUANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CI Capital\u2019s leasing arm Corplease has raised EGP 3.2 bn via a securitized bond <\/strong><strong>issuance<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/66.jpeg\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> by Al Ahly Pharos Investment Banking, which was one of the financial advisors on the transaction. The issuance was backed by an EGP 5 bn portfolio of leasing contracts. It came in four tranches with tenors of 13, 37, 52, and 65 months and ratings of AA+, AA, and A from Middle East Rating Services (MERIS).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> Al Ahly Pharos Investment Banking acted as financial advisor, lead manager, and book-runner alongside CIB and CI Capital. CIB, NBE, Al Baraka Capital, Banque du Caire, and Suez Canal Bank were underwriters. CIB also acted as custodian, BdC as placement agent, Zaki Hashem & Partners as counsel, and Baker Tilly as auditor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">GB CORP WRAPS EGP 1.6 BN ISSUANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GB Corp subsidiary GB Lease and Factoring has taken EGP 1.6 bn worth of securitized <\/strong><strong>bonds to market<\/strong>, the company <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/3.pdf\" style=\"\" rel=\"noopener\">said (pdf)<\/a> on Thursday. The issuance came in three tranches with tenors of 13, 36, and 56 months and ratings of AA+, AA, and A from MERIS.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong>CIB, Al Ahly Pharos, and CI Capital acted as advisors, lead arrangers, and bookrunners. CIB acted as the custodian and placement agent \u2014 as well as an underwriter alongside the NBE, Al Ahly Pharos, and the Suez Canal Bank. Dreny & Partners provided counsel and KPMG was the auditor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CONTACT RAISES EGP 1.4 BN-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Contact Financial Holding has closed an EGP 1.4 b<\/strong><strong>n securitized bond issuance<\/strong>, the non-bank financial services provider <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/12.pdf\" style=\"\" rel=\"noopener\">said (pdf)<\/a> last week. The issuance came in three tranches with maturities ranging from 13 to 60 months and ratings of AA+, AA, and A from MERIS. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the pipeline for 2024: <\/strong>The company is looking to close a EGP 2 bn sukuk issuance during the first quarter of 2024, company CEO Said Zater said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> Contact Financial Holding served as issuance manager and promoter. It also acted as underwriter alongside the Arab African International Bank (AAIB), Banque du Caire (BdC), Ahli United Bank, and Al Ahly Pharos \u2014 with ABC Bank acting as co-underwriter. AAIB served as custodian and BdC as placement agent, Alieldean Weshahi & Partners as legal advisor, and KPMG as financial auditor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">AMAN WRAPS EGP 1.1 BN ISSUANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Raya Holding\u2019s fintech subsidiary Aman has issued E<\/strong><strong>GP 1.1 bn worth of securitized bonds<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/70.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> by Al Ahly Pharos Investment Banking. The issuance was backed by an EGP 1.3 bn portfolio of consumer finance contracts issued by Aman Financial Services and Aman for Consumer Finance and the four-tranche issuance carried tenors ranging between 9 to 24 months and received ratings of P1 and A from MERIS.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> Al Ahly Pharos, Arab African International Bank (AAIB), and CIB acted as financial advisors, lead managers, and book-runners. NBE served as custodian and placement agent, and also acted as an underwriter alongside AAIB. Zaki Hashem & Partners provided counsel and UHY Egypt was the auditor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">RAWASI ISSUES EGP 1 BN IN SECURITIZED BONDS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rawasi Urban Development has raised EG<\/strong><strong>P 1 bn via a securitized bond issuance<\/strong>,<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/26.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from Al Ahly Pharos Investment Banking. The issuance was backed by an EGP 1.9 bn portfolio of mortgage contracts. The three-tranche issuance carried tenors of 25, 49, and 74 months and received ratings of AA+, AA, and A from MERIS.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong>Al Ahly Pharos, AAIB, and CI Capital were financial advisors, lead managers, and bookrunners. Al Ahly Pharos and AAIB were also transaction underwriters alongside the NBE. AAIB also acted as custodian placement agent, Dreny & Partners provided legal counsel, and <a target=\"_blank\" href=\"https:\/\/www.rsm.global\/egypt\/people\/magdy-hashish\" style=\"\" rel=\"noopener\">RSM Egypt<\/a> was the auditor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND-<\/strong><\/p>\n<ul>\n<li><strong>Bedaya Mortgage Finance issued EGP 843 mn worth of securitized bonds<\/strong> as part of a wider EGP 3-bn program, according to a <a target=\"_blank\" href=\"https:\/\/www.clydeco.com\/en\/about\/news\/2023\/12\/clydeco-advises-capital-for-securitization\" style=\"\" rel=\"noopener\">statement<\/a> from Clyde & Co, which was the legal advisor on the transaction. CI Capital acted as issuance manager and financial advisor, while Clyde & Co. provided legal counsel through its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59405581-3008-4667-8053-bfeb0fd95439\" style=\"\" rel=\"noopener\">associate office<\/a> Barakat, Maher & Partners.<\/li>\n<\/ul>\n<ul>\n<li><strong>State-owned consumer finance outfit <\/strong><strong>One Finance<\/strong><strong> has wrapped its maiden<\/strong><strong> securitized bond issuance worth EGP 616 mn<\/strong> as part of three-year c. EGP 3 bn program, <a target=\"_blank\" href=\"https:\/\/www.almasdar.com\/136744\" style=\"\" rel=\"noopener\">Al Masdar<\/a> reports, citing sources it says have knowledge of the matter. CIB reportedly acted as financial advisor and general coordinator for the transaction, while AAIB and Al Baraka Capital served as joint underwriters and custodians. Baker Tilly acted as auditor and Dreny & Partners as legal advisor.<\/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\/aman-financial-services\/\">Aman Financial Services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bedaya-mortgage-finance\/\">Bedaya Mortgage Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/contact-financial\/\">Contact Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/corplease\/\">Corplease<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-corp\/\">GB Corp<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-lease\/\">GB Lease<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/one-finance\/\">One Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rawasi\/\">Rawasi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya-holding\/\">Raya Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"612794\" 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=\"612794\">\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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/efg-hermes-tops-egx-brokerage-league-table-in-december-2\/\">\r\n                            EFG Hermes tops EGX brokerage league table in December                        <\/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\/2024\/01\/02\/efg-hermes-tops-egx-brokerage-league-table-in-december-2\/\" 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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Al Ahly Pharos Securities Brokerage came in second (8.3%), followed by CI Capital (5.5%), Thndr Securities (5.3%), and Mubasher Securities (4.5%). EFG had a monopoly over the top spot every month <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7e00ba88-9e68-4da7-954b-6631712ff711\" style=\"\" rel=\"noopener\">but one<\/a> in 2023.<\/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\/al-ahly-pharos\/\">Al Ahly Pharos<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/brokerage-league\/\">brokerage league<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-holding\/\">EFG Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mubasher-capital-holding\/\">Mubasher Capital Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/thndr\/\">Thndr<\/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=\"612796 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=\"612796\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/612796\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612796\" class=\"content-area-description single-story post-612796 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=\"612797\" class=\"issue-section enterprise-adv\">\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 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src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-ppeqzys\" data-v=\"4\" data-block-id=\"ppeqzys\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ppeqzys-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ppeqzys-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 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class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"612799\" 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=\"612799\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/chinese-state-owned-company-eyes-usd-10-bn-solar-project-in-egypt-plus-abu-dhabi-ports-cabinet-news-cbe-treasury-bills-kfw-development-finance-giza-systems-adq-x-pyramids-fc\/\">\r\n                            Chinese state-owned company eyes USD 10 bn solar project in Egypt. PLUS: Abu Dhabi Ports, cabinet news, CBE Treasury bills, KfW development finance, Giza Systems, ADQ x Pyramids FC                        <\/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\/2024\/01\/02\/chinese-state-owned-company-eyes-usd-10-bn-solar-project-in-egypt-plus-abu-dhabi-ports-cabinet-news-cbe-treasury-bills-kfw-development-finance-giza-systems-adq-x-pyramids-fc\/\" 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\/2024\/01\/02\/chinese-state-owned-company-eyes-usd-10-bn-solar-project-in-egypt-plus-abu-dhabi-ports-cabinet-news-cbe-treasury-bills-kfw-development-finance-giza-systems-adq-x-pyramids-fc\/')\">\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\/2024\/01\/02\/chinese-state-owned-company-eyes-usd-10-bn-solar-project-in-egypt-plus-abu-dhabi-ports-cabinet-news-cbe-treasury-bills-kfw-development-finance-giza-systems-adq-x-pyramids-fc\/\">\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=Chinese state-owned company eyes USD 10 bn solar project in Egypt. 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The project is expected to reduce carbon emissions by 14 mn tons when completed and will save some USD 1 bn in gas-powered energy costs per year. The Chinese power company is mulling investing USD 10 bn in the build-own-operate solar project in Upper Egypt and will sell the electricity produced on to the Egyptian Electricity Transmission Company, according to unnamed senior Electricity Ministry officials cited by <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/kna4pajr\" style=\"\" rel=\"noopener\">Al Mal<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi Ports has inked the<\/strong><strong> final contract to develop <\/strong><strong>and operate a container <\/strong><strong>terminal at Safaga Port<\/strong>, according to <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/y3cue5ze\" style=\"\" rel=\"noopener\">a<\/a><a target=\"_blank\" href=\"http:\/\/tinyurl.com\/y3cue5ze\" style=\"\" rel=\"noopener\">cabinet statem<\/a><a target=\"_blank\" href=\"http:\/\/tinyurl.com\/y3cue5ze\" style=\"\" rel=\"noopener\">ent<\/a>. Under the USD 200 mn, 30-year concession agreement, the Safaga 2 terminal is expected to kick off operations in 2Q 2025, handling some 5 mn tons of dry bulk, 1 mn tons of liquid bulk, 450k TEUs of containerized cargo, and 50k car-equivalent units (CEUs) of roll-on, roll-off cargo, the Emirati port developer said when it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4018d1e3-d7ae-4b4e-8c85-93420e44e487\" style=\"\" rel=\"noopener\">signed the initial agreement in March<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CABINET WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The cabinet greenlit several projec<\/strong><strong>ts and decisions on Wednesday,<\/strong> including the establishment of a new free zone at Damietta Furniture City and a USD 379.6 mn container terminal project at Ain Sokhna port, according to a <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/23vbnzmv\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. Cabinet also gave the go-ahead to the Transport Ministry to start contracting procedures for a green hydrogen project in Gargoub Port.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DEBT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Central Bank of Egypt (CBE) has<\/strong><strong> sold USD 850 mn of USD-denominated <\/strong><strong>one-year treasury bills<\/strong> at an average yield of 5.149% in an auction on Sunday to refinance existing debt, according to CBE figures. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KfW gives our energy sector an EUR<\/strong><strong> 76 mn lift: <\/strong>German development bank KfW will provide the Electricity Ministry with EUR 76 mn in soft financing and grants under agreements it inked with the International Cooperation Ministry on Sunday, a <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/44fc5bt6\" style=\"\" rel=\"noopener\">statement<\/a> from the ministry said. The funds include EUR 53 mn for the development of a smart grid project in Abu Qir, EUR 15 mn for hydroelectric stations at the Aswan High Dam, and EUR 8 mn for energy efficiency projects, according to the <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/4eyac47p\" style=\"\" rel=\"noopener\">State Information Service<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INVESTMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Giza Systems plans to funnel 70% of its 2024<\/strong><strong> investments into the Saudi market, <\/strong>which would account for USD 140 mn out of the USD 200 mn slated for the year, the company\u2019s CEO Osama Sorour told <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/3xt8e5bj\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The company will also expand into Oman and Kuwait in 2024, Sorour added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SMART POLICY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Digital design and development <\/strong><strong>services are in the pipeline for export support:<\/strong> In a potential indication that the Export Development Fund may be starting to focus more on services \u2014 and not just goods \u2014 the fund\u2019s board agreed in principle to add digital design and development services to its export subsidy payout program, according to a Trade Ministry <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/mshp62d6\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">STARTUPS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Beltone unit CFYE to support underprivileged entrepreneurs with EGP 60<\/strong><strong> mn financing and training program:<\/strong> Beltone Financial Holding\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7fc94bfc-608b-48b6-a28b-cfa610c0f024\" style=\"\" rel=\"noopener\">recently acquired<\/a> microfinance subsidiary Cash and <a target=\"_blank\" href=\"https:\/\/fundforyouthemployment.nl\/\" style=\"\" rel=\"noopener\">Challenge Fund for Youth Employment (CFYE)<\/a> \u2014 a Dutch youth employment fund focused on Sub-Saharan Africa and the Middle East \u2014 are set to launch an EGP 60 mn financing and training program for entrepreneurs, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/47.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from Beltone. The Underprivileged Entrepreneurs Reach Project will see Cash provide entrepreneurs with incremental loans, training programs to help them run and promote their businesses, and financial support.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADQ to sponsor <\/strong><strong>Pyramids FC:<\/strong> Abu Dhabi\u2019s sovereign wealth fund ADQ will be the official partner of Egypt\u2019s Pyramids FC under a multi-year sponsorship agreement signed last week, according to a <a target=\"_blank\" href=\"https:\/\/www.adq.ae\/newsroom\/adq-signs-multi-year-sponsorship-agreement-with-egypts-pyramids-football-club\/\" style=\"\" rel=\"noopener\">statement<\/a> from the fund.<\/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\/abu-dhabi-ports\/\">Abu Dhabi Ports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/adq\/\">ADQ<\/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\/aswan-high-dam\/\">Aswan High Dam<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/damietta-furniture-city\/\">Damietta Furniture City<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-china-relations\/\">Egypt-China relations<\/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\/giza-systems\/\">Giza Systems<\/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\/information-and-communications-technology-ministry\/\">Information and Communications Technology Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kfw\/\">Kfw<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pyramids-fc\/\">Pyramids FC<\/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\/saudi-arabia\/\">Saudi Arabia<\/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=\"612801\" 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=\"612801\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/global-markets-close-the-books-on-their-best-year-since-2019\/\">\r\n                            Global stock markets close the books on their best year since 2019                        <\/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\/2024\/01\/02\/global-markets-close-the-books-on-their-best-year-since-2019\/\" target=\"_blank\">\n                    Open in new tab                    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wp-post-image\" alt=\"\" data-attachment-id=\"612802\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/global-markets-close-the-books-on-their-best-year-since-2019\/74-jpg-31\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/74.JPG?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"74.JPG\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/74.JPG?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/74.JPG?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612801\" class=\"content-area-description single-story post-612801 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-capital-markets tag-enterpriseam tag-financial-markets tag-planet-finance tag-wall-street wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.a1a4a729-e4bf-45ab-abcb-0acc834c3b1e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>2023<\/strong> \u2014 <strong>A stellar year for global stocks: <\/strong>Last year saw global stock markets soaring to their best year since 2019, writes the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/c123ab88-9040-41d5-a43b-ac8f97b5d34a\" style=\"\" rel=\"noopener\">Financial Times<\/a>. Investor confidence that most of the world\u2019s major central banks have ended the cycle of rate hikes helped drive a two-month rally that saw the MSCI World index jumping 16% since October, pushing the index up 22% y-o-y.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The S&amp;P 500 had a particularly good year,<\/strong> soaring 24% throughout the year, and 14% since only October, stopping just short of its 2022 peak before the start of 2024.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bonds are rebounding: <\/strong>Bonds markets also rallied alongside equities, with the US 10-year Treasury yield falling 3.87% by year\u2019s end, down from over 5% in October, as inflation in the US continued to decline closer to the Fed\u2019s 2% target.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US tech companies saw bumper gains over the year,<\/strong> with the tech-dominated Nasdaq Composite surging 43% y-o-y.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also worth knowing about this morning:<\/strong><\/p><ul>\n<li><strong>Foreign investors are pulling back from China:<\/strong> China lost 87% of its net foreign investments in the country over the last four months of 2023, falling to USD 4.3 bn from USD 33 bn in August. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b71094b0-d974-47fb-83f2-652dd4c0d4c5\" style=\"\" rel=\"noopener\">Financial Times<\/a>).<\/li>\n<\/ul><ul>\n<li><strong>HSBC subsidiary completes full sale of its French retail banking business<\/strong><strong> to CCF: <\/strong>HSBC Continental Europe (HBCE) has completed the sale of its retail banking business in France to CCF, a subsidiary of My Money Group. (<a target=\"_blank\" href=\"https:\/\/www.businesswire.com\/news\/home\/20231231778605\/en\/HSBC-Continental-Europe-Completion-of-the-Sale-of-Retail-Banking-Business-in-France-Including-the-Sale-of-HSBC-SFH-France\" style=\"\" rel=\"noopener\">HSBC<\/a>)<\/li>\n<\/ul><p><a target=\"_blank\" id=\"t.5c9227c3c820a35876b893769cac2d71f1d95257\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">24,894<\/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\">+0.8% (YTD: +70.5%)<\/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>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.83<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.96<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.85<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.95<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,037<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +0.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,578<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: 0.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,060<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: 0.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,770<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: 0.00%)<\/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\">7,733<\/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: 0.00%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,522<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: 0.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 77.04<\/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%<\/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 2.51<\/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\">-1.7%<\/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>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 2,071.80<\/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-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 43,640.33<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.7% (YTD: +3.2%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose<\/strong><strong> 0.8%<\/strong><strong> on Sunday<\/strong> on turnover of EGP 2.8 bn (15.3% below the 90-day average). Regional investors were net sellers. The index is up 70.5% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Mopco (+6.6%), Credit Agricole Egypt (+6.0%) and Alexandria Container and Cargo Handling (+4.9%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>GB Corp (-2.7%), Orascom Development (-2.2%) and EFG Holding (-2.1%). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mixed on this first trading day of the new year<\/strong>, while shares in Europe and North America look set to post gains at the opening bell. <\/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\/capital-markets\/\">capital 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\/wall-street\/\">Wall Street<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"612803\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">11<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/meet-the-center-bringing-green-energy-to-egyptian-university-students-and-beyond\/\">\r\n                            Meet the center bringing green energy to Egyptian university students and beyond<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/meet-the-center-bringing-green-energy-to-egyptian-university-students-and-beyond\/\" 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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size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"612804\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/meet-the-center-bringing-green-energy-to-egyptian-university-students-and-beyond\/56-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/56.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"56.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/56.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/56.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-612803\" class=\"content-area-description post-612803 goinggreen type-goinggreen status-publish has-post-thumbnail hentry category-going-green tag-center-of-excellence-for-energy tag-enterprise-going-green tag-enterpriseam tag-going-green tag-renewable-energy tag-usaid wpautop entry\">\n\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\"><strong> PROJECT PROFILE- The center bringing renewable energy expertise to Egyptian <\/strong><strong>university students and beyond: <\/strong>Against the backdrop of the government\u2019s goal to achieve 42% renewable energy utilization by 2035, the US Agency for International Development (USAID) has funded a 5-year project aiming to bring technology and expertise to the Egyptian renewable energy field \u2014 starting on university campuses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meet the Center of Excellence for Energy: <\/strong>The <a target=\"_blank\" href=\"https:\/\/coe.engineering.asu.edu\/\" style=\"\" rel=\"noopener\">C<\/a><a target=\"_blank\" href=\"https:\/\/coe.engineering.asu.edu\/\" style=\"\" rel=\"noopener\">enter of Excellence for Energy (COE\/E)<\/a> is operated by Arizona State University (ASU) and was established two years ago in partnership with Ain Shams University, Mansoura University, and Aswan University. The project received USD 22 mn funding from USAID and aims to provide current and future professionals in the energy sector with the means to meet the market\u2019s dynamic and ever-developing expectations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How does the COE\/E plan to do that? <\/strong>Enterprise sat down with the project\u2019s director and professor at ASU, <a target=\"_blank\" href=\"https:\/\/search.asu.edu\/profile\/324761\" style=\"\" rel=\"noopener\">Sayfe Kiaei<\/a>, and the COE\/E\u2019s technical advisor and professor at Ain Shams University, Tamer Elnady, to understand the concrete ways in which the CEO\/E plans make a sustainable mark on Egypt\u2019s energy industry \u2014 and capacity building in its various forms is at the heart of it.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That means skills as well as facilities: <\/strong>Building capacity starts with training, workshops, as well as exchange opportunities to ASU for undergraduate students, postgraduate students, and faculty to engage further with the energy field and gain advanced knowledge and experience. It also entails the establishment of fully-equipped labs and training in additional skills such as writing proposals and generating funding for their research from national and international entities, Kiaei explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>University curricula are also getting a facelift: <\/strong>Another significant contribution of the COE\/E is making strategic changes to the curricula of energy-related specializations at the partner universities. Starting at Ain Shams, seven courses have already been added to the curriculum and they are on track to be added at Mansoura University next.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The technological center as the project\u2019s legacy: <\/strong>Among the tangible marks the COE\/E means to leave on the industry is the technological center it is establishing, which is set to be up and running halfway into 2024. Elnady told Enterprise that one of the main objectives of this center is to serve the industry by acquiring the certification to meet the expectations of a standardized market. This certification is a final step to be taken after the center\u2019s equipment is purchased and installed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advancement through research: <\/strong>\u201cNo country will advance or achieve its technological goals without scientific research, without close collaboration with academia,\u201d Elnady said. \u201cAnd this technology center will provide a means to have this collaboration between academia and industry.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Post-funding sustainability: <\/strong>The center also holds the key to sustaining the center after the funding period has passed. Once it begins to operate, the center is set to offer a variety of workshops and training opportunities, both for current students and working professionals, during whose studies new technologies were not yet embedded in the curriculum. These offerings are expected to provide the COE\/E with the income needed to keep its model sustainable.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aligning with Egypt\u2019s national goals: <\/strong>To ensure that the efforts of this project don\u2019t miss their mark, Kiaei explained that it is among the center\u2019s priorities to cooperate with the Egyptian government and work with the country\u2019s renewable energy priorities in mind. This means prioritizing green hydrogen and the reduction of fossil fuel burning, as well as cooperating with the Higher Education Ministry to develop curricula and funding research focusing on renewable energy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cIf you solve the energy issue, you solve the climate issue,\u201d <\/strong>Kiaei said, adding that the students\u2019 motivation and passion for the subject matter portends a thriving energy field.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A peek into the project\u2019s potential future: <\/strong>After Kiaei\u2019s success at a similar <a target=\"_blank\" href=\"https:\/\/ecee.engineering.asu.edu\/2022\/02\/a-successful-kick-off-indicates-a-bright-future-for-energy-center\/\" style=\"\" rel=\"noopener\">center in Pakistan<\/a> that continues to run effectively after the end of the project, he was determined to replicate the best practices in Egypt \u2014 and he expects to see similar results. Critical to this, in his view, is a continued strong relationship between the partnering universities, a process that is already steadily underway. \u201cI think once you build a relationship, that will be a very long lasting opportunity,\u201d he said. I think that's going to really set the roadmap for going forward and having a lot more technical impact.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/center-of-excellence-for-energy\/\">Center of Excellence for Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/usaid\/\">USAID<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"612805\" 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\/2024\/01\/02\/612805\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612805\" class=\"content-area-description single-story post-612805 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\">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>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>1 Fe<\/span><span style=\"font-weight:400;\">bruary (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>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>28 <\/span><span style=\"font-weight:400;\">March (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\">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>23<\/span><span style=\"font-weight:400;\"> May (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>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>18 <\/span><span>July (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>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>5 S<\/span><span style=\"font-weight:400;\">eptember (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>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>17<\/span><span style=\"font-weight:400;\"> October (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;\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21<\/span><span style=\"font-weight:400;\"> November (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;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26 D<\/span><span style=\"font-weight:400;\">ecember (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;\">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>MAFI inks USD 300 mn agri-food complex | Net foreign liabilities ease | 10 USD bn solar project | Bumper year for global stock exchanges<\/p>\n","protected":false},"featured_media":612776,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-612775","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"4f52905e-3342-41f0-8e2d-dfa02c0fdb4b","teaser":"MAFI inks USD 300 mn agri-food complex | Net foreign liabilities ease | 10 USD bn solar project | Bumper year for global stock exchanges","photo_url":"https:\/\/ent.news\/2024\/1\/78.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>Kicking off the New Year with fresh price hikes - 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\/kicking-off-the-new-year-with-fresh-price-hikes\/\" \/>\n<meta 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