{"id":612856,"date":"2024-01-03T00:00:00","date_gmt":"2024-01-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=612856"},"modified":"2025-12-17T03:00:28","modified_gmt":"2025-12-17T03:00:28","slug":"egypt-hikes-electricity-prices","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-hikes-electricity-prices\/","title":{"rendered":"Egypt hikes electricity prices"},"content":{"rendered":"<section id=\"612858\" 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=\"612858\">\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\/03\/the-price-hikes-keep-on-coming\/\">\r\n                            The price hikes keep on coming                        <\/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\/03\/the-price-hikes-keep-on-coming\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li 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data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/188.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/188.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612858\" class=\"content-area-description single-story post-612858 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-electricity tag-enterpriseam 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\/.ef1e60a9-4fec-458d-9a08-2d0e651a7f3d.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, and welcome to a packed issue<\/strong> in which we have the inside track on the Madbouly government\u2019s move to raise prices for government services and other areas of the economy from which it derives revenue. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The price hikes are all part of a package that a senior official tells us is designed with the IMF in mind. <\/strong>Talks are now in the endgame, the official said, and the state is also close to wrapping up to very welcome contracts to sell stakes in state-owned banks. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have the rundown on both stories at the top of this morning\u2019s news well, below. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But first: <\/strong><\/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- Rolling blackouts will be limited to between 11am and 5pm effective as of<\/strong><strong> today<\/strong>,in response to requests from MPs and citizens to time planned outages so that it doesn\u2019t interfere with kids studying for mid-year exams, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid074q4YCm97D3RHwjphLySzCe4FBaowY9oDMTPWTZ4BpdtMv1TvteBHUMoN2GMZ6QAl\" style=\"\" rel=\"noopener\">cabinet readout<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** We have more on the rolling blackouts and electricity price hikes in this morning\u2019s HardHat.<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>PSA #2- Watch out for fog as you drive to work this morning. <\/strong>The <a target=\"_blank\" href=\"https:\/\/m.facebook.com\/story.php?story_fbid=pfbid0w16myiobYPa4xkZr6Qi7yspYueMgVcDYKzE23j7tYW8ivHydSaVTnSuNqVUo8zefl&amp;id=100064457301517&amp;mibextid=Nif5oz\" style=\"\" rel=\"noopener\">Egyptian<\/a><a target=\"_blank\" href=\"https:\/\/m.facebook.com\/story.php?story_fbid=pfbid0w16myiobYPa4xkZr6Qi7yspYueMgVcDYKzE23j7tYW8ivHydSaVTnSuNqVUo8zefl&amp;id=100064457301517&amp;mibextid=Nif5oz\" style=\"\" rel=\"noopener\">Meteorological Authority<\/a> is forecasting foggy skies today and tomorrow morning. We\u2019re also in for a cold couple of days paired with some moderate rainfall in different areas of the country. Expect daytime highs not exceeding 22\u00b0C from today until Sunday and lows of 13-14\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PSA #3- There\u2019s a long weekend just aroun<\/strong><strong>d the corner: <\/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=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02fpgpWBBgpoCtD4K59pWXjBx5FGwpU9a3uYYCnEtUwYTapJiiwfJDMPKdfs4EAHml\" 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>** Enterprise AM will also be taking a break from your inbox. <\/strong>But worry not, we will be back bright and early on Monday 8 January with all the latest business news from the long weekend. <\/p><p class=\"tag-border-left\">IN THE HOUSE TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1- MPs are meeting today to vote and discuss amendments to the law regulating<\/strong><strong> ownership of desert land<\/strong>, which if passed would allow foreign nationals ownership of desert areas for investment purposes. It would also allow foreigners up to 51% ownership in companies that invest in desert land developments.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The House will also vote on an agreement with the European Bank for Reconstruction<\/strong><strong> and Development,<\/strong> which would see interest rate benchmarks used in agreements with the EBRD shifting to the Secured Overnight Financing Rate (SOFR), instead of the London Interbank Offered Rate (LIBOR).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The House Economic Affairs committee is also set to vote on a USD 500 mn with Abu<\/strong><strong> Dhabi Exports Office (ADEX) to finance our wheat imports<\/strong>, and on a EUR 56.7 mn grant from the French Agency for Development to expand our wheat silos capacity.<\/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\">LOOKING AHEAD-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Here are the key news triggers on which to your eyes on<\/strong> 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 tomorrow.<\/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 sometime this week. <\/li>\n<li><strong>Quarterly fuel prices review:<\/strong> The government\u2019s fuel pricing committee is scheduled to meet this month to set prices for the first quarter of 2024.<\/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 Committee will<\/strong><strong> not be meeting this month<\/strong>, with its first meeting of the year scheduled for 1 February. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p class=\"tag-border-left\">MORNING MUST READ- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No way back from the destruction in Gaza?<\/strong> In a harrowing narrative, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/fa93e55e-da75-477f-8bf7-e0f598d280d5\" style=\"\" rel=\"noopener\">Financial<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/fa93e55e-da75-477f-8bf7-e0f598d280d5\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/fa93e55e-da75-477f-8bf7-e0f598d280d5\" style=\"\" rel=\"noopener\">Times lays out<\/a> the impact of the destruction and material loss in Gaza, and how it is damaging the livelihoods and ambitions of the city\u2019s inhabitants \u2014 potentially irrevocably.<\/p><p class=\"tag-border-left\">DATA POINT- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>GAFI ups annual <\/strong><strong>FDI<\/strong><strong> target for FY 2023<\/strong><strong>-2024: <\/strong>The General Authority for Investments (GAFI) is looking to double the pace of FDI growth for the ongoing FY 2023-2024 to attract USD 12 bn \u2014 a 20% y-o-y increase \u2014 GAFI head Hossam Heiba told Al Arabiya in an interview (<a target=\"_blank\" href=\"http:\/\/tinyurl.com\/z9dzem7z\" style=\"\" rel=\"noopener\">watch, runtime: 8:50<\/a>). Heiba was <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/55h7bu43\" style=\"\" rel=\"noopener\">previously<\/a> targeting a 10% annual growth of FDI this fiscal year.<\/p><p class=\"tag-border-left\">RED SEA WATCH<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Deployment of Iranian destroyer to the Red Sea opens up possibility of US-Iran confrontation: <\/strong>Tehran has dispatched its Alborz destroyer warship to the Bab Al Mandab strait following a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26e50e17-7afe-4390-ad14-52ff4cfc7da1\" style=\"\" rel=\"noopener\">clash<\/a> between the US navy and the Iran-backed Houthis on Sunday that killed 10 militants, Iran\u2019s state news agency IRNA <a target=\"_blank\" href=\"https:\/\/en.irna.ir\/news\/85340641\/Iran-s-Alborz-warship-passes-Bab-el-Mandeb-Strait-enters-Red\" style=\"\" rel=\"noopener\">reported<\/a>. <\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n  <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>\n <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">THE BIG STORIES ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a>  <strong>Suspected Israeli drone strike on senior Hamas leader in <\/strong><strong>Beirut sparks fears of <\/strong><strong>regional escalation: <\/strong>Six people including Hamas deputy leader Saleh Al-Arouri and two leaders of the group\u2019s armed wing were killed yesterday in an Israeli drone strike in the southern suburbs of Lebanon\u2019s capital, Lebanese and Palestinian sources told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israels-aircraft-tanks-step-up-strikes-it-plans-reduce-troops-2024-01-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. Hezbollah responded to the attack with a warning on Telegram that the \u201cresistance has its finger on the trigger\u201d and that the strike will not go \u201cwithout a response or punishment,\u201d while Lebanese PM Najib Mikati <a target=\"_blank\" href=\"https:\/\/www.nna-leb.gov.lb\/en\/politics\/666812\/mikati-condemns-southern-suburb-explosion-israeli\" style=\"\" rel=\"noopener\">denounced<\/a> the \u201cnew Israeli crime\u201d and said the country will file a complaint to the UN Security Council. (<a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2024\/01\/02\/world\/israel-supreme-court-gaza-news\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2024\/01\/02\/israel-hamas-war-gaza-news-updates\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e4236f17-7eb4-4f03-a9f3-8ab3e8efbb63\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/israel-fights-on-three-fronts-as-it-debates-how-to-end-gaza-war-1c74c512?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israels-aircraft-tanks-step-up-strikes-it-plans-reduce-troops-2024-01-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/world-middle-east-67866346\" style=\"\" rel=\"noopener\">BBC<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICJ showdown \u2014 Israel vs. South Africa: <\/strong>Israel is preparing to challenge South Africa\u2019s genocide accusation at the International Court of Justice. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-says-it-will-appear-before-icj-counter-south-africas-gaza-case-2024-01-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/world-middle-east-67866342\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/un-court-south-africa-israel-gaza-genocide-71be2ce7f09bfee05a7cae26689ee262\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.timesofisrael.com\/israel-confirms-itll-defend-itself-from-gaza-genocide-claims-in-the-hague-next-week\/\" style=\"\" rel=\"noopener\">Times of Israel<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A Japan Airlines plane carrying hundreds <\/strong><strong>of passengers collided with a coast guard aircraft and then burst into flames<\/strong> on landing yesterday at Tokyo\u2019s Haneda airport. All passengers onboard the plane were safely evacuated, but five crew members of the coast guard plane were killed. (<a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/01\/02\/asia\/japan-airlines-plane-fire-airport-intl-hnk\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/asia\/japan-airlines-plane-in-flames-after-apparent-collision-at-tokyo-airport-eae1a3de?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/live\/world-asia-67862184\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/01\/02\/world\/asia\/tokyo-haneda-plane-fire.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/fire-breaks-out-plane-runway-japans-tokyo-haneda-airport-nhk-2024-01-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/live\/2024\/jan\/02\/japan-earthquake-search-people-trapped-rubble-death-toll-latest-updates\" style=\"\" rel=\"noopener\">Guardian<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG BUSINESS STORY this morning: BYD overtakes Tesla as world\u2019s top<\/strong><strong>EV seller: <\/strong>Tesla lost its spot as the world\u2019s top-selling electric vehicle manufacturer to the Chinese automaker BYD in 4Q 2023 for the first time, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/716c9b0b-d8cd-491a-a91b-d70c1e540797\" style=\"\" rel=\"noopener\">Financial Times<\/a> reported. BYD sold 526k battery-only cars during the quarter compared to Tesla\u2019s 484k \u2014 both record sales for the companies.<\/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\/2020\/01\/Web-view-01.jpg\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/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 wave of power cuts that have been turning off the lights since July and investigate why they are happening and when we can expect to see them come to an end.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/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=\"612860 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=\"612860\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/03\/612860\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612860\" class=\"content-area-description single-story post-612860 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>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">DISCOVER SOMABAY: <\/span><span style=\"font-weight:400;\">Embark on a journey of discovery in the heart of Somabay, where crystal-clear waters meet golden sands and luxury meets serenity. Experience a world of adventure, relaxation, and natural beauty like no other. From thrilling water sports to world-class golf, Somabay offers it all. Explore vibrant coral reefs, unwind in luxurious spas and savor exquisite cuisine. Your dream destination awaits, where every moment is a discovery.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"612861\" 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=\"612861\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/03\/govt-is-repricing-services-as-it-aims-to-meet-imf-loan-conditions-senior-official-says\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/166.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612862\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/03\/govt-is-repricing-services-as-it-aims-to-meet-imf-loan-conditions-senior-official-says\/166-jpg-29\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/166.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"166.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/166.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/166.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612861\" class=\"content-area-description single-story post-612861 post type-post status-publish format-standard has-post-thumbnail hentry category-uncategorized tag-economy tag-enterpriseam tag-finance-ministry tag-imf wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.2c8f74c6-6a61-4eaf-844f-b729db556405.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Price hikes for state services are part of a reform package designed with the IMF in<\/strong><strong>mind: <\/strong>The Madbouly government rang in the new year with a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f4048193-6df2-4911-84e8-a7f6409b8263\" style=\"\" rel=\"noopener\">long list of price hikes<\/a> for services and utilities ranging from the Cairo Metro and train fares to car registration fees. It is now raising electricity prices (see below) and is approving price hikes for industries from which it derives fees, tax income, or has ownership stakes. Among them: Telecommunications, where internet and mobile phone bills will rise after the National Telecom Regulatory Authority said it would allow mobile telecom operators to raise the prices of mobile and internet services by up to 16%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s smart policy: <\/strong>The price hikes are part of cabinet\u2019s bid to shore up finances and bridge the budget deficit, a senior Finance Ministry source told Enterprise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All with the IMF in mind<\/strong><strong>: <\/strong>Discussions with the IMF are in their \u201clast phase\u201d and they have been mainly centered around the Madbouly government\u2019s revenue targets, ways to reduce the budget deficit, and address the exchange rate, our source told us, without elaborating further on any of the points. The two sides are expected to reach an agreement during the first quarter of the year. Egypt has been working to meet the conditions of a USD 3 bn IMF loan and potentially unlock a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/df8e1343-11a4-48a5-980f-ca9f9eb5ebc8\" style=\"\" rel=\"noopener\">larger package<\/a> that could be worth up to USD USD 10-12 bn bn, according to unconfirmed reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New social support measures incoming? <\/strong>The government is expected to increase social support measures in efforts to alleviate the impact of soaring inflation on vulnerable households, the source said, adding that the FinMin is expecting inflation to accelerate at a slower pace this year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Egypt\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/22bb2d4c-8c1d-4aef-be7c-87068e127e5a\" style=\"\" rel=\"noopener\">budget deficit almost doubled y-o-y<\/a> in the first quarter of the current fiscal year as rising borrowing costs squeezed public finances. The deficit widened to 3.9% of GDP in 1Q FY 2023-24 from 2.1% a year earlier, largely due to the government\u2019s spiraling interest bill.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s on the privatization agenda for 2024? <\/strong>\u201cThe privatization program will see a strong boost this year \u2026 the government is currently working on an updated list of companies earmarked for privatization and is on the lookout to add even more companies,\u201d the source said. The Madbouly government, with assistance from the International Finance Corporation (IFC), <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e88b903-fd4f-448e-b331-314accc55de9\" style=\"\" rel=\"noopener\">has been looking<\/a> into 50 state-owned companies not currently in the program to determine which sectors would be more attractive and lucrative for investors. The IFC has previously been said to see potential in airports, communications, ins., and banking, among other sectors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The state could soon offload stakes in two banks: <\/strong>The government is expected to finalize stake sales in two state-owned banks soon, the source said. The agreements are currently in their \u201clast stages\u201d and we should hear more next month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have a number of banks in mind: <\/strong>The government was at one time looking to offload stakes in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7a248ffa-5a1b-4ef5-bfac-5250146e9cc2\" style=\"\" rel=\"noopener\">Banque du Caire<\/a> (long an IPO prospect) and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4ff534b7-45d7-45b5-a739-fa5c8f3eed09\" style=\"\" rel=\"noopener\">United Bank<\/a> (where it could sell up to 100% to a strategic investor) before the new year. The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c94678e-da01-4ad9-ae2e-7826abc15331\" style=\"\" rel=\"noopener\">European Bank for Reconstruction and Development<\/a> has expressed interest in taking positions in both banks. Two months ago, the Central Bank of Egypt (CBE) and Kuwait Investment Authority (KIA) were said to have agreed to offload a 20% stake each in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bab473fe-375c-4b6e-8544-1cf7a37a11d5\" style=\"\" rel=\"noopener\">AAIB<\/a> in 2024. The government is also working to offload <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/36c5215a-1746-4308-8523-6b35d181f175\" style=\"\" rel=\"noopener\">its 20% stake in Alexbank<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- We\u2019re taking steps towards our first India bond issuance: <\/strong>Egypt is looking to tap the Indian debt market with a USD 500 mn bond issuance earmarked for this year, Finance Minister <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/531e2aa1-9b1f-438f-becc-54db56b73c1a\" style=\"\" rel=\"noopener\">Mohamed Maait said<\/a> last month. \u201cWe have requested the necessary approvals from the relevant Indian authorities and we will start working on fulfilling the necessary requirements as soon as we\u2019re granted those approvals,\u201d our source said. The bond would be denominated in INR and mark the first time Egypt has issued debt in India. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But there\u2019s no rush: <\/strong>\u201cWe have reached our [financing] goal for the first half of the current fiscal year,\u201d our source said. The government in the past few months wrapped up two local-currency issuances in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/24a3b396-64fe-4ac7-8fd7-c6da54bdcb5a\" style=\"\" rel=\"noopener\">China<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce19e583-ed68-49db-9e75-f748b4f180ed\" style=\"\" rel=\"noopener\">Japan<\/a>, which raised the equivalent of USD 980 mn in CNY- and JPY-denominated debt. \u201cWe may issue new debt instruments in international markets, but that will depend on Egypt\u2019s credit rating improving and indicators that global interest rates will inch lower,\u201d he said.<\/p>\n<p class=\"tag-border-left\">WHAT DOES THE IMF THINK?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The prerequisites for our economic recovery: <\/strong>Egypt\u2019s recovery depends on tacklinginflation and creating conditions that allow and encourage production and investments, IMF executive director Mahmoud Mohieldin told Al Arabiya this week (<a target=\"_blank\" href=\"https:\/\/twitter.com\/alarabiya_egy\/status\/1741753631618040003?s=46&amp;t=-JTomFjF7zfyHQWGsd4tSw\" style=\"\" rel=\"noopener\">watch, runtime: 3:22<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"612863\" 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=\"612863\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/03\/electricity-ministry-hikes-electricity-prices-by-up-to-26\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/178.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612864\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/03\/electricity-ministry-hikes-electricity-prices-by-up-to-26\/178-jpg-25\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/178.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"178.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/178.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/178.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612863\" class=\"content-area-description single-story post-612863 post type-post status-publish format-standard has-post-thumbnail hentry category-uncategorized tag-electricity tag-electricity-ministry tag-energy tag-enterpriseam tag-inflation tag-subsidies 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\/.c0843112-f6cf-4555-b6c0-1a41d0d1a32f.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Your<\/strong><strong>el<\/strong><strong>ectricity bill just went up:<\/strong> The Electricity Ministry is finally out with its long-expected electricity price hikes for households and businesses that will see prices rise by 16-26%. The new price ranges came into effect on Monday and will be in place until June 2024, according to an Electricity Ministry official that spoke to Enterprise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new price tags per KWh for households: <\/strong><\/p>\n<ul>\n<li>The first 0-50 KWh\/month will be charged EGP 0.58, up 20.8% from EGP 0.48;<\/li>\n<li>The next 51-100 KWh\/month at EGP 0.68, up 17.2% from EGP 0.58;<\/li>\n<li>The next 101-200 KWh\/month at EGP 0.83, up 7.8% from EGP 0.77;<\/li>\n<li>The next 201-350 KWh\/month at EGP 1.25, up 17.9% from EGP 1.06;<\/li>\n<li>The next 351-650 KWh\/month at EGP 1.4, up 9.4% from EGP 1.28;<\/li>\n<li>Those consuming more that 1,000 KWh per month will pay EGP 1.65, up 13.8% from EGP 1.45.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>**<\/strong>You can find the full price list for <strong><a target=\"_blank\" href=\"http:\/\/egyptera.org\/ar\/Tarrif2024N.aspx\" style=\"\" rel=\"noopener\">commercial and industrial buyers here<\/a><\/strong>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The hikes were originally due in July 2023,<\/strong> but the Madbouly government decided to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5cfef76-aa68-486f-a13a-cade675718c6\" style=\"\" rel=\"noopener\">freeze<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5cfef76-aa68-486f-a13a-cade675718c6\" style=\"\" rel=\"noopener\">electricity prices<\/a> last year to ease the pressure on the public, as directed by President Abdel Fattah El Sisi. Our source told us that the state had to cough off about EGP 8 bn to be able to push back electricity price hikes. The last approved hike was in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d8524ce4-c8d0-4b1d-b450-a125c9879398\" style=\"\" rel=\"noopener\">June 2021<\/a>, which saw residential electricity bills jumping as much as 26%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Electricity subsidies are on the way out: <\/strong>The Madbouly government in 2020 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/78b3ac0c-8571-47a4-802c-abf1b65a5044\" style=\"\" rel=\"noopener\">laid out<\/a> a roadmap to phase out subsidies by 2025 \u2014 pushing back an existing July 2022 deadline that was already an extension of a 2019 deadline penciled in way back in 2014.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The hike comes hot on the heels of a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f4048193-6df2-4911-84e8-a7f6409b8263\" style=\"\" rel=\"noopener\">series of price hikes<\/a><\/strong><strong> for several public and private<\/strong><strong> services and utilities <\/strong>announced earlier this week after the state greenlit the price rises. Mobile phone plans, internet packages, Cairo Metro and train tickets, and vehicle registration fees all increased in the New Year.<\/p>\n<p class=\"tag-border-left\">NO PETROL PRICE HIKES?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Worry not petrol heads, we aren\u2019t expecting any fuel price hikes anytime soon:<\/strong> The government apparently has no intentions of reviewing fuel prices for 3Q of the fiscal year since the last price move was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bdb1778c-42af-4168-bf2b-b59955a959ad\" style=\"\" rel=\"noopener\">passed<\/a> less than three months ago, a government official involved in the petroleum industry told Enterprise.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity-ministry\/\">Electricity Ministry<\/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\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsidies\/\">subsidies<\/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=\"612865\" 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=\"612865\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/03\/green-hydrogen-incentives-get-final-approval-from-house\/\">\r\n                            Egypt\u2019s House of Representatives approves green hydrogen incentives                        <\/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\/03\/green-hydrogen-incentives-get-final-approval-from-house\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The incentives were greenlit by the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a10abfdb-9dc8-4c91-ab5d-8513537de698\" style=\"\" rel=\"noopener\">cabinet in May<\/a>, approved by the House Energy and Environment Committee <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b6146e4d-54ba-4e60-8a6c-3a934881b5ab\" style=\"\" rel=\"noopener\">last month<\/a>, andare now only awaiting ratification from President Abdel Fattah El Sisi after getting the go-ahead from the House.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The incentives in question: <\/strong>Following the decision\u2019s ratification, companies operating in the green hydrogen sector will be eligible to receive tax breaks of between 33-50% on income earned from the plants. They will also be exempted from real estate taxes, stamp taxes, and VAT on raw materials and machinery purchased for the projects. Projects will also receive a number of non-tax incentives like licensing facilities and extended grace periods on payments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** We dive into the full package of incentives and the eligibility requirements in our<\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b6146e4d-54ba-4e60-8a6c-3a934881b5ab\" style=\"\" rel=\"noopener\">coverage of the story<\/a><\/strong><strong> last month. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt is going all-in on green hydrogen: <\/strong>Egypt has set a target of providing 5-8% of the world\u2019s hydrogen by 2040, creating some 100k jobs and adding USD 10-18 bn to its GDP in the process. The government has also signed MoUs with 23 developers and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/1f8d7402-6d05-4eae-b3b0-b5bb811be7ab\" style=\"\" rel=\"noopener\">framework agreements<\/a> with nine international power companies to develop green hydrogen projects. The <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0GFmsBzEDiMbzki73qHbMF1BdwadUjKNVb9J3k7Rp8vs1q7kB1MysLM982arNQrNdl\" style=\"\" rel=\"noopener\">Madbouly cabinet last week greenlit<\/a> Belgian dredging and offshore energy contractor DEME\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d1ce8ec-0246-408a-9945-5102f34cdbf8\" style=\"\" rel=\"noopener\">USD 3.1 bn project<\/a> to produce green hydrogen and its derivatives near the Gargoub Port. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Still to come:<\/strong> We\u2019re still waiting on the government to unveil its green hydrogen strategy \u2014 currently in its final stages \u2014 after it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce49e9e0-e5ac-4a4b-ab10-86a56d08ec26\" style=\"\" rel=\"noopener\">received approval<\/a> from the National Green Hydrogen Council in November.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- North Abu Qir for Agricultural Nutrients<\/strong><strong> goes green: <\/strong>State-owned Abu Qir Fertilizers, ABB Group, MPS Infrastructure, and Petrojet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02Ar1iMjceuzrZdA5sF3wtvTU3N6uJPB2QvvENDj4EysvF8zHW52a8McVgCruzpndRl\" style=\"\" rel=\"noopener\">inked an MoU yesterday<\/a> to supply <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a9365ee8-1414-43db-b2c9-ae5173329b2b\" style=\"\" rel=\"noopener\">North Abu Qir for Agricultural Nutrients<\/a> with the green hydrogen and renewable energy needed to produce green ammonia. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO FROM THE HOUSE- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MPs also approved an amendment that will expand the scope of a 2021 medical<\/strong><strong> emergency fund<\/strong> to include spending for the treatment of hereditary diseases. The amendment will allow the fund to launch initiatives for the early detection of hereditary diseases and raise young people\u2019s awareness about hereditary diseases.<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"612867 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=\"612867\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/03\/612867\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612867\" class=\"content-area-description single-story post-612867 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.grantthornton.global\/en\/locations\/Egypt\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/674.png?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"612868\" 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=\"612868\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/03\/abu-dhabi-government-backed-hotel-group-plans-usd-170-mn-investment-in-three-egyptian-hotels\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/157.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612869\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/03\/abu-dhabi-government-backed-hotel-group-plans-usd-170-mn-investment-in-three-egyptian-hotels\/157-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/157.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"157.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/157.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/157.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612868\" class=\"content-area-description single-story post-612868 post type-post status-publish format-standard has-post-thumbnail hentry category-uncategorized tag-abu-dhabi-fund-for-development tag-abu-dhabi-tourism-investment-company tag-enterpriseam tag-hospitality tag-hurghada tag-investment-watch tag-sharm-el-sheikh tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.d6a42d6f-4641-441e-9905-b7f1728f227e.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Three hotels are getting a makeover fro<\/strong><strong>m our Emirati friends:<\/strong> The Egypt-focussed <a target=\"_blank\" href=\"https:\/\/adticeg.com\/\" style=\"\" rel=\"noopener\">Abu Dhabi Tourism Investment<\/a><a target=\"_blank\" href=\"https:\/\/adticeg.com\/\" style=\"\" rel=\"noopener\">Company<\/a> (ADTIC) that is 84% owned by the government of Abu Dhabi\u2019s <a target=\"_blank\" href=\"https:\/\/www.adfd.ae\/english\/Pages\/Home.aspx\" style=\"\" rel=\"noopener\">Abu Dhabi Fund for Development<\/a> (ADFD) plans to invest over USD 170 mn \u2014 equal to EGP 5.3 bn \u2014 into the renovation of three hotels in Hurghada, Sharm El Sheikh, and Giza, ADTIC CEO Yahya Qutb told <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/sw6rkenk\" style=\"\" rel=\"noopener\">Al Mal<\/a> in an interview.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong><\/p>\n<ul>\n<li><strong>In Sharm:<\/strong> More than EGP 1.6 bn \u2014 roughly USD 52 mn \u2014 is earmarked to renovate the Accor-managed M\u00f6venpick Resort Sharm El Sheikh.<\/li>\n<li><strong>In<\/strong><strong>Hurghada: <\/strong>Up to USD 40 mn \u2014 which is currently equal to EGP 1.2 bn \u2014 is expected to be invested into renovating the Mercure Hurghada Resort, which will start in April and take up to 15 months to complete.<\/li>\n<li><strong>In Giza: <\/strong>Some USD 80 mn \u2014 equivalent to around EGP 2.4 bn \u2014 has been allocated to build a new hotel under the brand Sofitel Legend, which will replace the now-demolished Mercure hotel in the Giza Pyramids area. Construction will kick off before mid-2024 and is scheduled to be completed in two years at most. The project was first <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63e852b0-603d-456d-9eb8-63022938fc44\" style=\"\" rel=\"noopener\">announced<\/a> in July.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-dhabi-fund-for-development\/\">Abu Dhabi Fund for Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-dhabi-tourism-investment-company\/\">Abu Dhabi Tourism Investment Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hurghada\/\">Hurghada<\/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\/sharm-el-sheikh\/\">Sharm El Sheikh<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"612870 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=\"612870\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/03\/612870\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612870\" class=\"content-area-description single-story post-612870 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/415.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"612871\" 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=\"612871\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/03\/price-hikes-and-a-suspected-israeli-drone-strike-in-beirut-dominated-the-airwaves\/\">\r\n                            Price hikes and a suspected Israeli drone strike in Beirut dominated the airwaves                        <\/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\/03\/price-hikes-and-a-suspected-israeli-drone-strike-in-beirut-dominated-the-airwaves\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/182.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612872\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/03\/price-hikes-and-a-suspected-israeli-drone-strike-in-beirut-dominated-the-airwaves\/182-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/182.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"182.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/182.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/182.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612871\" class=\"content-area-description single-story post-612871 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-last-nights-talk-shows tag-middle-east-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.4c5d34cf-036b-4c0a-8534-409eca7ae276.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The recent wave of price hikes and the suspected Israeli drone strike in Beirut that killed<\/strong><strong> a senior Hamas official gave our nation\u2019s talking heads a lot to talk about last night.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The price hikes rallied up the pundits:<\/strong> Kelma Akhira\u2019s Lamees El Hadidi questioned why the hikes came without any warning and pointed to how this led to \u201cfights in front of ticket counters\u201d at train stations across the country. House Budget Committee Secretariat Abdelmoneim Emam took a more combative tone on Yahduth Fi Masr, telling viewers that the government\u2019s methods to curb soaring prices have repeatedly failed, and asked \u201cwhen will these hikes stop?\u201d (Kelma Akhira | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=68LvnaYfyxE\" style=\"\" rel=\"noopener\">watch, runtime: 6:02<\/a> | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=SYnyw9ryV88\" style=\"\" rel=\"noopener\">2:03<\/a>) (Yahduth Fi Misr | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=B0h0PUGjzsE\" style=\"\" rel=\"noopener\">watch, runtime: 5:56<\/a> | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1126590992045332\" style=\"\" rel=\"noopener\">5:01<\/a> | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=LesE4ySiQmU\" style=\"\" rel=\"noopener\">4:24<\/a>) (Ala Masouleety | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=tZsbye93X9U\" style=\"\" rel=\"noopener\">watch, runtime: 1:09:50<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our nation\u2019s talking heads gave us all the latest updates \u2014 and opinions \u2014 on the<\/strong><strong> assassination of Hamas\u2019 deputy leader in a suspected Israeli drone strike in Beirut.<\/strong> A correspondent Al Qaherah News confirmed to Lamees El Hadidi that Israeli reconnaissance aircrafts were spotted in the southern suburb of Beirut, \u201csurveilling the area weeks before the attack.\u201d Sherif Amer emphasized that the attack follows \u201ca comprehensive Israeli strategy\u201d that they have been using since 1972 to take out their opponents using assassinations. (Kelma Akhira | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=oTYc6jDP2HU\" style=\"\" rel=\"noopener\">watch, runtime: 2:33<\/a> | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=dVxbiELdf3E\" style=\"\" rel=\"noopener\">7:14<\/a>) (Ala Masouleety | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=f8s-SYc5lwE\" style=\"\" rel=\"noopener\">watch, runtime: 3:48<\/a>) (Yahduth Fi Misr | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=754023306171329\" style=\"\" rel=\"noopener\">watch, runtime: 7:14<\/a>)<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n               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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"612874\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/03\/what-are-egyptians-wishing-for-in-2024\/\">\r\n                            Between economic stability and peace in Gaza, here\u2019s what Egyptians are wishing for in 2024                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img 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class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/03\/what-are-egyptians-wishing-for-in-2024\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/60.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612875\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/03\/what-are-egyptians-wishing-for-in-2024\/60-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/60.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"60.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/60.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/60.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612874\" class=\"content-area-description single-story post-612874 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-alaa-abdel-fattah tag-enterpriseam 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\/.b7ed4706-71d3-4416-859b-68446369c035.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The conversation on Egypt in the international pre<\/strong><strong>ss is all over the place this morning: <\/strong>China\u2019s <a target=\"_blank\" href=\"https:\/\/english.news.cn\/africa\/20240101\/c50360758f3648dc831bd06a44cb53c6\/c.html\" style=\"\" rel=\"noopener\">Xinhua<\/a> is out with a feature looking at what the people of Egypt are wishing for walking into the new year \u2014 peace in Gaza and economic stability. Meanwhile, imprisoned activist Alaa Abdel Fattah is back in the press, with his family claiming that the UK government has not taken effective action to secure his release, <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2023\/dec\/31\/uk-failed-act-free-alaa-abd-el-fattah-jail-egypt-family-says\" style=\"\" rel=\"noopener\">The Guardian<\/a> reports. <\/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\/alaa-abdel-fattah\/\">Alaa Abdel Fattah<\/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=\"612876\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"612877\" 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=\"612877\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/03\/eib-eu-extend-eur-165-mn-to-green-our-industrial-sector-plus-jinbeis-buys-brilliance-stake-gupco-data-centers-steel-price-rises-sugar-tenders\/\">\r\n                            EIB, EU extend EUR 165 mn to green our industrial sector. PLUS: Jinbei\u2019s buys Brilliance stake, GUPCO, data centers, steel price rises, sugar tenders                        <\/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\/03\/eib-eu-extend-eur-165-mn-to-green-our-industrial-sector-plus-jinbeis-buys-brilliance-stake-gupco-data-centers-steel-price-rises-sugar-tenders\/\" 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\/03\/eib-eu-extend-eur-165-mn-to-green-our-industrial-sector-plus-jinbeis-buys-brilliance-stake-gupco-data-centers-steel-price-rises-sugar-tenders\/')\">\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\/03\/eib-eu-extend-eur-165-mn-to-green-our-industrial-sector-plus-jinbeis-buys-brilliance-stake-gupco-data-centers-steel-price-rises-sugar-tenders\/\">\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=EIB, EU extend EUR 165 mn to green our industrial sector. PLUS: Jinbei\u2019s buys Brilliance stake, GUPCO, data centers, steel price rises, sugar tenders&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/03\/eib-eu-extend-eur-165-mn-to-green-our-industrial-sector-plus-jinbeis-buys-brilliance-stake-gupco-data-centers-steel-price-rises-sugar-tenders\/\">\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\/03\/eib-eu-extend-eur-165-mn-to-green-our-industrial-sector-plus-jinbeis-buys-brilliance-stake-gupco-data-centers-steel-price-rises-sugar-tenders\/&title=EIB, EU extend EUR 165 mn to green our industrial sector. PLUS: Jinbei\u2019s buys Brilliance stake, GUPCO, data centers, steel price rises, sugar tenders\">\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=EIB%2C+EU+extend+EUR+165+mn+to+green+our+industrial+sector.+PLUS%3A+Jinbei%E2%80%99s+buys+Brilliance+stake%2C+GUPCO%2C+data+centers%2C+steel+price+rises%2C+sugar+tenders+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F03%2Feib-eu-extend-eur-165-mn-to-green-our-industrial-sector-plus-jinbeis-buys-brilliance-stake-gupco-data-centers-steel-price-rises-sugar-tenders%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\/03\/eib-eu-extend-eur-165-mn-to-green-our-industrial-sector-plus-jinbeis-buys-brilliance-stake-gupco-data-centers-steel-price-rises-sugar-tenders\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/180.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"612878\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/03\/eib-eu-extend-eur-165-mn-to-green-our-industrial-sector-plus-jinbeis-buys-brilliance-stake-gupco-data-centers-steel-price-rises-sugar-tenders\/180-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/180.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"180.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/180.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/180.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612877\" class=\"content-area-description single-story post-612877 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-automotive tag-bavarian-auto-group tag-cit tag-commodities tag-data-centers tag-development-finance tag-energy tag-enterpriseam tag-eu tag-european-investment-bank tag-gasc tag-gupco tag-international-cooperation-ministry tag-oil-ministry tag-sugar wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.c3da36e0-acaf-47c6-a5e6-98618cb89f1b.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">DEVELOPMENT FINANCE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>EIB, EU extend EUR 165 mn to green our industrial sector:<\/strong> The European Investment Bank (EIB) is extending EUR 135 million in soft financing to the Environment Ministry, topped off with a EUR 30 mn grant from the EU, under agreements inked with the International Cooperation Ministry, a <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/2u87tmcm\" style=\"\" rel=\"noopener\">statement<\/a> from the ministry said. The funds will help finance the Sustainable Green Industry project, which seeks to combat industrial pollution. The project \u2014 which will be managed by the Egyptian Environmental Affairs Agency (EEAA) and executed by the National Bank of Egypt (NBE) \u2014 will see the government dole out funds to private and public sector manufacturers to stimulate investment in initiatives that mitigate industrial pollution, according to the <a target=\"_blank\" href=\"https:\/\/sis.gov.eg\/Story\/190906\/Egypt-signs-%E2%82%AC135M-deal-with-EIB-for-sustainable-green-industry-project?lang=en-us\" style=\"\" rel=\"noopener\">State Information Services<\/a>.<\/p><p class=\"tag-border-left\">AUTOMOTIVE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Local auto firm acquires stake in Br<\/strong><strong>illiance Auto:<\/strong> The country\u2019s sole agent for Jinbei products <a target=\"_blank\" href=\"https:\/\/jinbeiroyal-eg.com\/\" style=\"\" rel=\"noopener\">Jinbei Royal Egypt<\/a> has acquired the Bavarian Auto Group\u2019s (BAG) stake in <a target=\"_blank\" href=\"https:\/\/www.brilliance-eg.com\/\" style=\"\" rel=\"noopener\">Brilliance Bavarian Auto Company<\/a> \u2014 a JV between China\u2019s Brilliance vehicles and BAG \u2014 Jenbei\u2019s managing director Khaled Saad told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/01\/01\/1752034\" style=\"\" rel=\"noopener\">Al Borsa<\/a> earlier this week. Brilliance Auto is gearing up to bring Brilliance\u2019s V3 and V6 models to the Egyptian market by mid-February, he added.<\/p><p class=\"tag-border-left\">ENERGY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GUPCO\u2019s first oil well in North Safa field comes online: <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/gupco\/\" style=\"\" rel=\"noopener\">Gulf of Suez Petroleum<\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/gupco\/\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/gupco\/\" style=\"\" rel=\"noopener\">Company<\/a> (GUPCO) has started production from the first oil well in the North Safa field in the Gulf of Suez at 2.5k barrels per day (bpd), according to a <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/y4jp4258\" style=\"\" rel=\"noopener\">statement<\/a> from the Oil Ministry.<\/p><p class=\"tag-border-left\">TELECOMS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More data centers in the pipeline? <\/strong>Six local and international companies \u2014 includinglocal IT infrastructure firm Benya Group \u2014 have reportedly filed for licenses to set up data centers in Egypt with the National Telecom Regulatory Authority (NTRA), sources with knowledge of the matter told <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/hbner45e\" style=\"\" rel=\"noopener\">Al Mal<\/a>.<\/p><p class=\"tag-border-left\">COMMODITIES-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ezz Steel raised the price of local rebar<\/strong> by EGP 3.5k to EGP 42k per ton \u2014 inclusive of 14% VAT \u2014 a source at the company told Enterprise. Several steel producers have hiked prices to catch up with the rising raw material costs, leaving steel prices at anywhere between EGP 41.5k and EGP 43k a tonne, <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=02012024&amp;id=013e768b-4794-4601-98cc-e12222b01cca\" style=\"\" rel=\"noopener\">Al Shorouk<\/a> reported.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GASC has launched a tender for 50k tons of raw sugar<\/strong> and \/ or 50k tons of refined white sugar on behalf of the Egyptian Sugar and Integrated Industries Company, for delivery between mid-Febraury and mid-March (<a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/markets\/commodities\/egypts-gasc-seeks-50-000-tonnes-of-sugar-in-tender-statement-o7nrfg7c\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p><p class=\"tag-border-left\">TRANSPORT- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The second phase of the metro line 3<\/strong>has begun trial operations. (<a target=\"_blank\" href=\"http:\/\/tinyurl.com\/2p89wrs2\" style=\"\" rel=\"noopener\">Cairo Metro<\/a><a target=\"_blank\" href=\"http:\/\/tinyurl.com\/2p89wrs2\" style=\"\" rel=\"noopener\">statement<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Abu Qir train route<\/strong>will gradually start halting operations starting Friday as the ministry starts working on the Alexandria metro project. Authorities will soon announce alternative routes. (<a target=\"_blank\" href=\"http:\/\/tinyurl.com\/kpx777u9\" style=\"\" rel=\"noopener\">Transport Ministry statement<\/a>) <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bavarian-auto-group\/\">Bavarian Auto Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/data-centers\/\">Data Centers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/european-investment-bank\/\">European Investment Bank<\/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\/gupco\/\">GUPCO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-cooperation-ministry\/\">International Cooperation Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-ministry\/\">Oil Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sugar\/\">Sugar<\/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=\"612879\" 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=\"612879\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/03\/are-you-ready-for-the-new-economic-order\/\">\r\n                            Are you ready for the new economic order?                        <\/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\/03\/are-you-ready-for-the-new-economic-order\/\" 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 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data-image-title=\"181.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/181.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/181.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612879\" class=\"content-area-description single-story post-612879 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.d83677d5-94a3-4a6f-b93e-dc65e377068a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Could 2024 be the year when the world completes its transition into a new era of<\/strong><strong> expensive money? <\/strong>While investors are convinced that most of the world\u2019s major central banks have ended the cycle of rate hikes \u2014 a sentiment that has led global stock and bond markets to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b7e24df5-d873-4ccb-b5bb-b656faa6f98e\" style=\"\" rel=\"noopener\">rally<\/a> in recent weeks \u2014 the implications of a \u201cnew economic order\u201d where interest rates are generally higher are likely to become more evident in 2024, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/investors-2024-is-year-transition-new-economic-order-2024-01-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> writes. Investors are betting that the US Federal Reserve could trim rates by around 1.5% to 4% by the end of the year.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Business and consumers are going to face fresh challenges: <\/strong>Everyone, from individual consumers to countries, will have to figure out how to readjust to a high interest rate environment, the newswire writes. While consumers will earn more on their savings, they will have to cope with borrowing rates that could be more than twice as high and some companies will have to restructure their debt.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH NOTING:<\/strong><\/p><ul>\n<li><strong>Argentina and the International Monetary Fund are reportedly close to<\/strong><strong> reaching an agreement<\/strong> \u2014 which could come as soon as this month \u2014 over the delayed seventh review of the country\u2019s USD 44 bn loan program. An IMF delegation is set to arrive in Buenos Aires on Thursday to continue negotiations. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/americas\/argentina-imf-close-agree-delayed-programme-review-january-sources-2024-01-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-02\/argentina-says-imf-to-visit-thursday-to-restart-44-billion-deal\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/li>\n<li><strong>Norway's largest pension fund KLP has excluded Saudi Aramco along with six <\/strong><strong>Gulf telecom and five real estate companies from its portfolio<\/strong> over human rights and climate concerns, the fund <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/55.pdf\" style=\"\" rel=\"noopener\">said (pdf)<\/a> on Thursday. The move saw KLP offload some USD 15 mn worth of assets, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/sustainable-finance-reporting\/norwegian-fund-klp-excludes-aramco-gulf-real-estate-telcos-2023-12-28\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports.<\/li>\n<li><strong>BTC nears 2-year high:<\/strong>The cryptocurrency surpassed USD 45k for the first time in nearly 2 years. BTC has risen over 20% since the start of December. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-02\/bitcoin-soars-to-highest-level-in-21-months-on-etf-approval-hope?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/li>\n<\/ul><p><a target=\"_blank\" id=\"t.d2e95ca03abbb39cf26888d0b5b677b927729e84\" 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\">25,502<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.4% (YTD: +2.4%)<\/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 30.82<\/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\">12,123<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +1.3%)<\/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\">9,588<\/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: +0.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,091<\/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: +0.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,743<\/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-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">7,722<\/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: -0.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,513<\/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: -0.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 75.89<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.57<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,067.40<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 45,106.91<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+3.3% (YTD: +6.3%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 2.4% at yesterday\u2019s close<\/strong> on turnover of EGP 3.3 bn (0.3% below the 90-day average). Foreign investors were net sellers. The index is up 2.4% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>B Investments (+9.7%), Eastern Company (+9.2%), and Palm Hills Developments (+8.3%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>ADIB (-2.0%), Mopco (-0.8%), and Abu Qir Fertilizers (-0.7%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are solidly in the red this morning<\/strong>, tracking Wall Street lower in early trading. Stocks of tech players and chipmakers are under particular pressure after Barclays yesterday downgraded Apple, says <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/01\/03\/asia-markets.html\" style=\"\" rel=\"noopener\">CNBC<\/a>. European and North American markets also look set to open in the red later today.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"612881\">\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\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday 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\/hardhat\/\">\r\n                            Read Hardhat                        <\/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\">7<\/div>\r\n    \r\n                        <p class=\"f-graphik\">HARDHAT<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/the-blackouts-arent-going-anywhere-for-a-while\/\"> \r\n                            The blackouts aren\u2019t going anywhere for a while<\/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\/hardhats\/the-blackouts-arent-going-anywhere-for-a-while\/\" 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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This came in response to requests from MPs and citizens to reduce the length of power outages, especially during the midyear exam season, the statement said, adding that new blackout schedules will be published soon. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- The Electricity Ministry has hiked electricity prices<\/strong> for private and commercial uses by 16-26%, effective this month. The move is part of a bigger plan to completely phase out electricity subsidies by 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher: <\/strong>The ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7db6d0ec-6a2c-429f-b240-a34fa57dfddf\" style=\"\" rel=\"noopener\">began reducing the electrical load in late July<\/a> to ration the consumption of natural gas production. The power cuts were originally blamed on summer heat waves, but after temperatures have fallen, officials noted that the one-hour cut saves the country some USD 300 mn per month. Our gas supply was dealt another blow in October when Chevron halted shipments of Israeli gas from its Tamar field due to the ongoing war in Gaza.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There are two main reasons why we\u2019re continuing to see power cuts: #1- Electricity consumption has gone up. <\/strong>Our electricity consumption was up some 4.4k MW last year in comparison to the year before due to higher temperatures, our source said. That, coupled with contractual obligations for exports, has added pressure on our gas supply. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So how much fuel do we actually need? <\/strong>The Electricity Ministry needs to secure around 135 mn cubic meters of gas and 10k tons of mazut a day to support current consumption, an official told <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7db6d0ec-6a2c-429f-b240-a34fa57dfddf\" style=\"\" rel=\"noopener\">Asharq Business<\/a> in July.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Could this let up soon?<\/strong> One unnamed source familiar with the situation told <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/92d64315-b5aa-4c9c-8409-26fbcabc9029\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> recently that consumption could fall to 6 bn cf\/d in January, down from 7 bn cf\/d in the summer months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Resuming LNG exports = more FX: <\/strong>A large chunk of our gas production goes towards exports, an important FX source, making exports a \u201cpriority\u201d for the government, our source told us. The government is looking to reach a target of 1.2 mn tons in LNG exports a month during the winter months, the source added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Egypt is set to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/92d64315-b5aa-4c9c-8409-26fbcabc9029Egypt%20to%20resume%20LNG%20exports%20in%20January\" style=\"\" rel=\"noopener\">resume LNG exports<\/a><\/strong><strong> this month after half a year with virtually no gas leaving our shores<\/strong>. The government hopes to export as much as 1 bn cubic feet of gas per day from the beginning of this year, according to the official. Egypt is now importing 800 mn cubic feet of Israeli gas per day after Chevron restarted production at the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4b815416-4098-4b11-a75f-df31f6c9d58e\" style=\"\" rel=\"noopener\">Tamar gas field<\/a> and reopened the EMG pipeline between Egypt and Israel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How much were we exporting before? <\/strong>Egypt has exported just 3.38 mn metric tons of LNG towards the end of 2023, down from 7.1 mn tons during the whole of 2022. The country has the capacity to export more than 12 mn tons a year via its two liquefaction plants at Damietta and Idku.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve tried several things \u2014 and they haven\u2019t worked:<\/strong> The government recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ff0e82be-1220-4474-976f-6c8f8e51b070\" style=\"\" rel=\"noopener\">restored daylight saving time<\/a> and in 2022 began <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d8825220-3a11-4b4f-85d0-10a069902e3a\" style=\"\" rel=\"noopener\">rationing the use of electricity<\/a> in moves designed to reduce power consumption. Despite rationing electricity, spending on water and street lighting rose to EGP 2.8 bn in 1Q 2023, compared to just EGP 821 mn the year before, according to a Finance Ministry report seen by Enterprise. This can be attributed to an increase in costs on the back of FX swings, one source said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One solution we\u2019ve been looking at is ramping up mazut imports \u2014 but it\u2019s not sustainable: <\/strong>We\u2019re currently importing <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/98333b95-5b4e-4f6b-8949-636b2a3f3e2e\" style=\"\" rel=\"noopener\">more mazut<\/a> to meet domestic needs, though our source says this is a \u201ctemporary\u201d solution. Mazut is a less clean alternative to natural gas that allows us to save more gas for export, but it has side effects both on grid efficiency and on the environment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Liberalization of the grid is also on the table: <\/strong>Private-sector players have long been asking for the ability to use the state\u2019s electricity grid to transmit electricity to their end clients. The European Bank for Reconstruction and Development (EBRD) is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4278776a-0cae-4593-86f5-b392cf4a0637\" style=\"\" rel=\"noopener\">working to advise<\/a> the Egyptian Electric Utility and Consumer Protection Regulatory Agency (Egyptera) on opening up the market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A limited number of private producers currently sell their surplus electricity<\/strong>, with some 170 licenses currently active, our source said. There is no clear regulatory framework governing this practice though, the source explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>A 10-GW solar project could be in the works: <\/strong>China Electric Power Equipment and Technology has signed an MoU with the Madbouly government to begin studies to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f76fe194-f334-4f04-9a02-290f10fb406f\" style=\"\" rel=\"noopener\">develop a 10-GW solar project<\/a>.<\/li>\n<li><strong>Madinet Masr closed EGP 7 bn worth of contracts in 2023<\/strong>, including a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/920f843e-b8e1-412d-806c-2635913929c7\" style=\"\" rel=\"noopener\">EGP 1.7 bn MoU<\/a> with local construction company <a target=\"_blank\" href=\"https:\/\/www.elhazek.com\/\" style=\"\" rel=\"noopener\">El Hazek<\/a> to construct the final stage of Madinet Masr\u2019s <a target=\"_blank\" href=\"https:\/\/madinetmasr.com\/taj-city\" style=\"\" rel=\"noopener\">Taj City project<\/a> and the company\u2019s new HQ.<\/li>\n<li><strong>Tameer<\/strong><strong> secures 956 mn for New Cairo project:<\/strong> Real estate developer <a target=\"_blank\" href=\"https:\/\/tameer.com.eg\/\" style=\"\" rel=\"noopener\">Tameer<\/a> has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/920f843e-b8e1-412d-806c-2635913929c7\" style=\"\" rel=\"noopener\">landed an EGP 956 mn loan<\/a> from Banque du Caire for its business park project <a target=\"_blank\" href=\"https:\/\/urbanbusinesslane.com\/\" style=\"\" rel=\"noopener\">Urban Business Lane<\/a> in New Cairo.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/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\/hardhat\/\">Hardhat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\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=\"612883\" 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\/03\/612883\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-612883\" class=\"content-area-description single-story post-612883 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 style=\"font-weight:400;\">1 February (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>1 Fe<\/span><span>bruary (Thursday): OPEC+ oil market monitoring <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-02\/opec-plans-oil-market-monitoring-meeting-in-early-february-as-fresh-cuts-start?srnd=premium-middle-east\" style=\"\">online meeting<\/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>11 February (Sunday): Deadline to apply for the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/39dc4a75-8ed5-46ed-a296-30a40cf2f166\" style=\"\">Chicago Booth Executive Program<\/a><\/span><span style=\"font-weight:400;\">in El Gouna.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25 February 2024 (Sunday): Deadline to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1ec344c3-9e08-4b6a-9656-143e62bbf536\" style=\"\">bid for 23 blocks<\/a><\/span><span style=\"font-weight:400;\"> in an international oil and gas tender.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MARCH<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20 March (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a48ac77-0c93-4364-bc1f-c6abf5bea2ed\" style=\"\">End of sugar export ban<\/a><\/span><span>.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">28 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 style=\"font-weight:400;\">23 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 style=\"font-weight:400;\">18 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 style=\"font-weight:400;\">5 September (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 style=\"font-weight:400;\">17 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 style=\"font-weight:400;\">21 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 style=\"font-weight:400;\">26 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">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\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>Power cuts until 2Q 2024? | Emirati hotel investment | Green industrial loan incoming | Green hydrogen incentives<\/p>\n","protected":false},"featured_media":612857,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-612856","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"854ab078-1159-4188-a175-9b3d702298a9","teaser":"Power cuts until 2Q 2024? | Emirati hotel investment | Green industrial loan incoming | Green hydrogen incentives","photo_url":"https:\/\/ent.news\/2024\/1\/191.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>Egypt hikes electricity prices - 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\/egypt-hikes-electricity-prices\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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