{"id":613210,"date":"2024-01-10T00:00:00","date_gmt":"2024-01-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=613210"},"modified":"2025-12-17T03:08:31","modified_gmt":"2025-12-17T03:08:31","slug":"world-bank-downgrades-egypts-gdp-growth-for-fy-23-24-to-3-5","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/world-bank-downgrades-egypts-gdp-growth-for-fy-23-24-to-3-5\/","title":{"rendered":"World Bank downgrades Egypt\u2019s GDP growth for FY 23\/24 to 3.5%"},"content":{"rendered":"<section id=\"613212\" 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=\"613212\">\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\/10\/the-states-privatization-program-might-be-tripling-in-size\/\">\r\n                            The state\u2019s privatization program might be tripling in size                        <\/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\/10\/the-states-privatization-program-might-be-tripling-in-size\/\" target=\"_blank\">\n                    Open in 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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\/.fa6b84e0-75b1-4006-ac32-5ef692a405df.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, folks. <\/strong>We\u2019ve got a chockablock issue with a bit for everything for everyone today, so let\u2019s jump right into it.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PSA- EnterpriseAM Egypt is off tomorrow. <\/strong>We\u2019re heading out to a company offsite today before we come back tomorrow to tool up ahead of <strong>the official launch of EnterpriseAM UAE next week. <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>If you haven\u2019t already: Sign up for the UAE edition <\/strong><strong><a target=\"_blank\" href=\"https:\/\/uaeform.enterprise.news\/\" style=\"\" rel=\"noopener\">here<\/a><\/strong><strong>. <\/strong>Our report, produced in the UAE and in Cairo, is written for decision makers in the UAE as well as executives, investors, and others doing business or deploying capital there. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM UAE is available to you without charge <\/strong>thanks to the generous support of our friends at Mashreq and is published by 7am UAE time Monday through Friday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** THAT\u2019S NOT ALL: EnterpriseAM Saudi Arabia is launching later this month. <\/strong>You can sign up <a target=\"_blank\" href=\"https:\/\/ksaform.enterprise.news\/\" style=\"\" rel=\"noopener\">here<\/a> to let us know you\u2019d like to be on the list on launch day. More details soon. <\/p><p class=\"tag-border-left\">HAPPENING TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>El Sisi attends tripartite summit in Jordan:<\/strong> President Abdel Fattah El Sisi is set to meet with Jordan\u2019s King Abdullah II and Palestinian Authority President Mahmoud Abbas todayin the Red Sea city of Aqaba for a summit to discuss pushing for a ceasefire in Gaza and increasing the delivery of humanitarian aid, the Egyptian <a target=\"_blank\" href=\"https:\/\/sis.gov.eg\/Story\/191035\/Tripartite-summit-between-Egypt%2C-Jordan-and-Palestine-to-discuss-Gaza-developments%2C-Wednesday?lang=en-us\" style=\"\" rel=\"noopener\">State Information Service<\/a> and <a target=\"_blank\" href=\"https:\/\/twitter.com\/Petranews\/status\/1744779536590410037\" style=\"\" rel=\"noopener\">Jordanian News Agency<\/a> reported.<\/p><p class=\"tag-border-left\">HAPPENING TOMORROW-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>Blinken in Cairo:<\/strong> US Secretary of State Anthony Blinken is expected to touch down in Cairo on Thursday after meeting officials in Ramallah the day before, if the <a target=\"_blank\" href=\"https:\/\/www.state.gov\/secretary-travel\/travel-to-turkiye-greece-jordan-qatar-u-a-e-saudi-arabia-israel-the-west-bank-and-egypt-january-4-11-2024\/\" style=\"\" rel=\"noopener\">State Department\u2019s itinerary<\/a> holds. Blinken has been in the region since 4 January \u2014 his fourth trip since the outbreak of the war \u2014 and has so far touched down in the UAE, KSA, Israel, Qatar, Turkey, Greece, and Jordan.<\/p><p class=\"tag-border-left\">WATCH THIS SPACE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1-<\/strong><strong>Is the state\u2019s privatization list set to triple?<\/strong> The government has identified some 61 additional state-owned companies that it plans to add to the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8a0da43-f922-4a49-b3a9-839f397f8ce4\" style=\"\" rel=\"noopener\">state\u2019s privatization list<\/a> and exit via stakes sales to either strategic investors or through EGX offerings, reports <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/01\/09\/1754592\" style=\"\" rel=\"noopener\">Al Borsa<\/a>, citing unnamed sources. While they did not name the new companies, the sources said that priority will be given to four main sectors: airports, telecommunications, banking, and ins. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>The Madbouly government \u2014 with assistance from the International Finance Corporation (IFC) \u2014 <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. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2 AIB could be on the list:<\/strong> The government is considering exiting its stake in the Arab International Bank and is in the process of appointing financial advisors in order to do so, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/01\/09\/1754580\" style=\"\" rel=\"noopener\">Al Borsa<\/a> writes, citing unnamed sources. The government is looking into exiting a second unnamed bank at the same time, with Al Borsa\u2019s sources saying that the banking sector is expected to see a number of transactions in 2024. No further details regarding the value of the share the government expects to exit or the recipient were included.<\/p><p class=\"tag-border-left\">THE BIG STORY HERE AT HOME-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>US Treasury secretary says that they\u2019ve got our back in meeting with Egyptian officials:<\/strong> US Treasury Secretary Janet Yellen met with CBE Governor Hassan Abdalla, Finance Minister Mohamed Maait, and International Cooperation Minister Rania Al Mashat in Washington yesterday, the US Treasury Department said in a <a target=\"_blank\" href=\"https:\/\/home.treasury.gov\/news\/press-releases\/jy2018\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. Yellen emphasized the US\u2019 support for Egypt\u2019s economic reform program and \u201cunderscored the goal of bolstering Egypt\u2019s economy and supporting inclusive, sustainable growth.\u201d <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- We might be in store for some big IMF news soon: <\/strong>The state-side Egyptian delegation also met with IMF Managing Director Kristalina Georgieva, according to a post by Georgieva on <a target=\"_blank\" href=\"https:\/\/twitter.com\/KGeorgieva\/status\/1744848838576181659\" style=\"\" rel=\"noopener\">X<\/a> that we caught in the early hours of this morning. News of what was said at the meeting is yet to emerge.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The int\u2019l press gave the meeting some ink: <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/imf-chief-georgieva-yellen-meet-with-egyptian-authorities-2024-01-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a> <\/p><p class=\"tag-border-left\">BIG STORIES ABROAD-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s no single big story dominating the global business press this morning. <\/strong>Among the headlines you need to know about:<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The World Bank thinks global growth is going to slow in 2024<\/strong>, writing in its semiannual Global Prospects report that the world\u2019s GDP will grow 2.4% this year, down from 2.6% last year and 3% in 2022. A slowdown in trade and geopolitical tensions are among the factors weighing on sentiment. We have a look at the bank\u2019s outlook on Egypt in 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>#2- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/01\/09\/business\/sec-x-hack-bitcoin.html\" style=\"\" rel=\"noopener\">BTC rose sharply yesterday<\/a><\/strong><strong> after a hack of the SEC\u2019s account <\/strong>falsely claimed that the US securities regulator had approved BTC exchange-traded funds. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Boeing\u2019s CEO, facing a growing crisis, says the company needs to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/airlines\/boeing-ceo-says-company-needs-to-acknowledge-our-mistake-38bb1194?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">own \u201cour mistake\u201d<\/a><\/strong>as airlines and regulators around the world order safety inspections of the 737 Max model after last week\u2019s incident at Alaska Airlines.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Asset manager BlackRock is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/blackrock-announces-cuts-roughly-600-jobs-2024-01-09\/\" style=\"\" rel=\"noopener\">laying off<\/a><\/strong><strong> 600 people<\/strong>, or about 3% of its global workforce. The firm still thinks its headcount will grow this year as it adds staff at its ETF and private markets businesses. <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/stock-market-today-dow-jones-01-09-2024\/card\/blackrock-to-lay-off-3-of-global-workforce-1p9HhNzuYsImig4YCOUm\" style=\"\" rel=\"noopener\">You can read the full memo here<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- France has a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/macron-sends-out-frances-youngest-prime-minister-fend-off-far-right-2024-01-09\/\" style=\"\" rel=\"noopener\">new prime minister<\/a><\/strong><strong>. <\/strong>Gabriel Attal, the popular education minister in the previous cabinet, is the youngest (34) and first openly gay PM in France\u2019s history.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/ksaform.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/152.jpg?ssl=1\"><\/a> <\/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>Oil and fuel tankers continue to move through the Red Sea <\/strong>despite a spike inshipping costs and ins. premiums due to the repeated vessel attacks from Yemen\u2019s armed Houthi group, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/oil-tankers-continue-red-sea-movements-despite-houthi-attacks-2024-01-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. A daily average of 76 oil and fuel tankers crossed the Red Sea and Gulf of Aden last month, only three fewer than the daily average for the first 11 months of 2023. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The why: <\/strong>Despite the rise in costs, the Red Sea route remains far cheaper than a reroutearound the Cape of Good Hope. It is also likely that oil tankers don\u2019t view the Houthi attacks as a threat, seeing as the Houthis have so far only attacked non-petroleum vessels, according to the newswire.<\/p><p class=\"tag-border-left\">CREDIT WHERE CREDIT IS DUE<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egyptian Journalists\u2019 Syndicate gives 2024 Press Freedom Press Award to<\/strong><strong>Palestinian journalist Wael Al Dahdouh<\/strong>,the bureau chief of Al Jazeera in Gaza, in recognition of his role during the ongoing war on Gaza, the syndicate said in a <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/32w5f5w2\" style=\"\" rel=\"noopener\">statement<\/a>. Al Dahdouh has continued to report on the Israeli war, despite his wife, three children, and one grandchild having been killed in Israeli strikes since October.<\/p><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>China is shrinking: <\/strong>A weakening economy and covid-related deaths have likely causedChina\u2019s population to drop for the second consecutive year in 2023 \u2014 estimates put the number of new births in 2023 below the 9.56 mn figure recorded a year prior \u2014 <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/weak-economy-covid-rampage-likely-shrank-chinas-population-again-2023-2024-01-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. China\u2019s birth rate has been in decline since 2016 as the country struggles with gender inequality, high child care expenses, youth unemployment, low wages, and an ongoing property crisis.<\/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\">CIRCLE YOUR CALENDAR- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>More international oil, gas, and gold exploration tenders are on the horizon:<\/strong> The government aims to launch new international tenders for oil, gas, and gold exploration this year, with a new gold tender slated for the second half of the year, Oil Minister Tarek El Molla told <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/3f864a67\" style=\"\" rel=\"noopener\">Asharq Business<\/a> on the sidelines of the <a target=\"_blank\" href=\"https:\/\/www.futuremineralsforum.com\/\" style=\"\" rel=\"noopener\">Future Minerals Forum<\/a> in Riyadh.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> A government source in October told us that the ministry plans to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/17080952-e361-438a-bceb-1ef189921871\" style=\"\" rel=\"noopener\">launch an international<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/17080952-e361-438a-bceb-1ef189921871\" style=\"\" rel=\"noopener\">bid round<\/a> for the exploration of gold and minerals in 13 concessions in Shalateen and Aswan in early 2024. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pulse check on our gas production:<\/strong> Egypt\u2019s average daily natural gas production hit 5.8 bn cubic feet per day in 2023, El Molla said. That\u2019s 6.8% less than the <a target=\"_blank\" href=\"https:\/\/sis.gov.eg\/Story\/187027\/Petroleum-Ministry-Natural-gas-reserve-hits-2.65-trillion-cubic-feet-in-FY-2022-2023?lang=en-us#:~:text=Egypt's%20average%20daily%20natural%20gas,5.9%20billion%20cubic%20feet%20daily.\" style=\"\" rel=\"noopener\">6.2 bn cubic<\/a> feet we produced per day in FY 2022-2023.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/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 government\u2019s ambitious targets for infrastructure andenergy exports for the next six years \u2014 undertaking water security, boosting oil and gas exports, and tackling unplanned areas.<\/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\/state-privatization-program\/\">state privatization program<\/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=\"613214 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=\"613214\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/613214\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613214\" class=\"content-area-description single-story post-613214 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/145.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">DISCOVER SOMABAY: <\/span><span>Embark on a journey of discovery in the heart of Somabay, where crystal-clear waters meet golden sands and luxury meets serenity. Experience a world of adventure, relaxation, and natural beauty like no other. From thrilling water sports to world-class golf, Somabay offers it all. Explore vibrant coral reefs, unwind in luxurious spas and savor exquisite cuisine. Your dream destination awaits, where every moment is a discovery.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613215\" 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=\"613215\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/world-bank-downgrades-our-gdp-growth-for-fy-23-24-to-3-5\/\">\r\n                            World Bank downgrades Egypt\u2019s GDP growth for FY 23\/24 to 3.5%                        <\/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\/10\/world-bank-downgrades-our-gdp-growth-for-fy-23-24-to-3-5\/\" 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\/10\/world-bank-downgrades-our-gdp-growth-for-fy-23-24-to-3-5\/')\">\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\/10\/world-bank-downgrades-our-gdp-growth-for-fy-23-24-to-3-5\/\">\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=World Bank downgrades our GDP growth for FY 23\/24 to 3.5%&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/world-bank-downgrades-our-gdp-growth-for-fy-23-24-to-3-5\/\">\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\/10\/world-bank-downgrades-our-gdp-growth-for-fy-23-24-to-3-5\/&title=World Bank downgrades our GDP growth for FY 23\/24 to 3.5%\">\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=World+Bank+downgrades+our+GDP+growth+for+FY+23%2F24+to+3.5%25+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F10%2Fworld-bank-downgrades-our-gdp-growth-for-fy-23-24-to-3-5%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\/10\/world-bank-downgrades-our-gdp-growth-for-fy-23-24-to-3-5\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/664.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613216\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/world-bank-downgrades-our-gdp-growth-for-fy-23-24-to-3-5\/664-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/664.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"664.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/664.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/664.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613215\" class=\"content-area-description single-story post-613215 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-emerging-markets tag-enterpriseam tag-gdp tag-global-economy tag-world-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.59c5380a-9b36-4f3a-902c-ffc62ab80d5a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The World Bank has downgraded its Egypt growth outlook for the current fiscal<\/strong>year due to the country\u2019s ongoing economic problems, according to figures in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/656.pdf\" style=\"\" rel=\"noopener\">Global Economic Prospects reports (pdf)<\/a>. The lender expects real GDP growth to slow to 3.5% in FY 2023-2024, down 0.2% from its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b2f9b1b3-dd65-41f5-a301-4613e12d726e\" style=\"\" rel=\"noopener\">last forecast in October<\/a>, when it penciled in growth of 3.7%. Growth is forecast to accelerate to 3.9% in FY 2024-2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s in line with other international monitors:<\/strong> The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/18f5a345-3af0-4908-af1b-d9a8a46852a1\" style=\"\" rel=\"noopener\">IMF<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c9d2065-c5ad-456f-adb1-867053c60a70\" style=\"\" rel=\"noopener\">S&P Global<\/a> penciled in 3.5-3.6% growth in FY 2023-24 late last year. The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a0bc5d8a-a535-4a8f-9a9f-567ba6f522b0\" style=\"\" rel=\"noopener\">EBRD<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a8466130-8880-4a71-b32b-3b1b25dc24dd\" style=\"\" rel=\"noopener\">Morgan Stanley<\/a> are slightly more optimistic and set growth expectations between 4.2-4.5%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While the government is even more optimistic:<\/strong> The Madbouly government sees the economy growing at a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d582677-df84-4c57-8702-2e53adf7b4e9\" style=\"\" rel=\"noopener\">4.7% clip<\/a> in the coming fiscal year, from an estimated 3.0% in FY 2023-2024 and 4.2% the year before.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A regional conflict could further hit Egypt\u2019s economy: <\/strong>\u201cThe conflict in the Middle East will likely exacerbate the inflation problem, eroding households\u2019 purchasing power and constraining activity in the private sector,\u201d the lender wrote. A heightened conflict will \u201cintensify pressures on external accounts through implications on tourism, remittances, and oil trade balance.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re still expected to be one of the top performers in the region for FY 23\/24:<\/strong> The only countries with stronger projected growth rates for FY 23\/24 are Libya (14.1%), Djibouti (4.7%), and Iran (4.2%).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/global-economy\/\">global economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613217\" 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=\"613217\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/ezdehar-acquires-majority-stake-in-apparel-player-behind-dalydress-and-premoda\/\">\r\n                            Egyptian private equity firm Ezdehar Management acquires 80%+ stake in apparel company behind Dalydress and Premoda                        <\/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\/10\/ezdehar-acquires-majority-stake-in-apparel-player-behind-dalydress-and-premoda\/\" 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\/10\/ezdehar-acquires-majority-stake-in-apparel-player-behind-dalydress-and-premoda\/')\">\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\/10\/ezdehar-acquires-majority-stake-in-apparel-player-behind-dalydress-and-premoda\/\">\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=Ezdehar acquires majority stake in apparel player behind Dalydress and Premoda&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/ezdehar-acquires-majority-stake-in-apparel-player-behind-dalydress-and-premoda\/\">\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\/10\/ezdehar-acquires-majority-stake-in-apparel-player-behind-dalydress-and-premoda\/&title=Ezdehar acquires majority stake in apparel player behind Dalydress and Premoda\">\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=Ezdehar+acquires+majority+stake+in+apparel+player+behind+Dalydress+and+Premoda+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F10%2Fezdehar-acquires-majority-stake-in-apparel-player-behind-dalydress-and-premoda%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\/10\/ezdehar-acquires-majority-stake-in-apparel-player-behind-dalydress-and-premoda\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/605.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613218\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/ezdehar-acquires-majority-stake-in-apparel-player-behind-dalydress-and-premoda\/605-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/605.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"605.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/605.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/605.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613217\" class=\"content-area-description single-story post-613217 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam tag-ezdehar tag-ma-watch tag-textiles 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\/.34455bf5-34cb-4caa-9494-63a8074a210e.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Ezdehar acquires majority stake in local apparel player: <\/strong>Local private equity firmEzdehar Management has purchased above 80% stake in clothing company SETA Textiles \u2014 the company behind clothing brands Dalydress and Premoda \u2014 Ezdehar Private Equity Principal Farah El Agami told Enterprise. She refused to disclose the value of the transaction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the acquisition: <\/strong>The investment came through the Ezdehar Egypt Mid-Cap Fund II, which counts among its limited partners the European Bank for Reconstruction and Development, International Financing Corporation, European Investment Bank, and others, Ezdehar said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/545.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The acquisition includes a primary capital investment in SETA Textiles to aid the company\u2019s plans to expand both in Egypt and overseas. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expansion on the horizon: <\/strong>On the local front, the company aims to increase its branches,expand its online reach, and diversify its products in the apparel sector, El Agami said. SETA is also looking to expand overseas \u2014 either by opening branches abroad through partnerships and franchises and through online marketplaces. The company also wants to expand its existing presence in Saudi Arabia before expanding to other Gulf nations and potentially a number of African countries, she added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The acquisition could open the door for more apparel investments: <\/strong>\u201cThe current macroeconomic challenges and growing demand for local brandshave made the local apparel market an attractive one for investment in general. Ezdehar could look to acquire more players in the market through SETA in the future,\u201d El Agami told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ezdehar is looking to invest some USD 70 mn this year<\/strong> across various sectors that include manufacturing, healthcare, retail, technology, and others, El Agami said. Ezdehar will unveil more investment news \u201cvery soon,\u201d she added.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ezdehar\/\">Ezdehar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/textiles\/\">textiles<\/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=\"613219\" 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=\"613219\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/egypts-first-medical-and-health-resort-is-on-the-way\/\">\r\n                            Maxim Investment Group will set up Egypt\u2019s first medical resort                        <\/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\/10\/egypts-first-medical-and-health-resort-is-on-the-way\/\" 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\/10\/egypts-first-medical-and-health-resort-is-on-the-way\/')\">\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\/10\/egypts-first-medical-and-health-resort-is-on-the-way\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt\u2019s first medical and health resort is on the way&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/egypts-first-medical-and-health-resort-is-on-the-way\/\">\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\/10\/egypts-first-medical-and-health-resort-is-on-the-way\/&title=Egypt\u2019s first medical and health resort is on the way\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt%E2%80%99s+first+medical+and+health+resort+is+on+the+way+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F10%2Fegypts-first-medical-and-health-resort-is-on-the-way%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\/10\/egypts-first-medical-and-health-resort-is-on-the-way\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/550.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613220\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/egypts-first-medical-and-health-resort-is-on-the-way\/550-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/550.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"550.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/550.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/550.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613219\" class=\"content-area-description single-story post-613219 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam tag-gafi tag-healthcare tag-investment-watch tag-maxim-investment-group 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\/.5c1fe652-6fba-4287-824c-848a371ced82.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A <\/strong><strong>potential boost for medical tourism in Egypt: <\/strong><a target=\"_blank\" href=\"https:\/\/maximig.com\" style=\"\" rel=\"noopener\">Maxim Investment Group<\/a> will setup Egypt\u2019s first medical and health resort \u2014 an EGP 1.5 bn project under the name Naya Wellness Resort \u2014 in the <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/49hmzk6v\" style=\"\" rel=\"noopener\">El Saf<\/a><a target=\"_blank\" href=\"http:\/\/tinyurl.com\/49hmzk6v\" style=\"\" rel=\"noopener\">Investment<\/a><a target=\"_blank\" href=\"http:\/\/tinyurl.com\/49hmzk6v\" style=\"\" rel=\"noopener\">Zone<\/a> in Giza governorate, according to an <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid021W7hoDNru4oEvMnU46FGRcRNgufibFh4W6Pfgj2tfFMxgYf5jYS5yX68pC8PKL4Hl\" style=\"\" rel=\"noopener\">agreement inked<\/a> between the group, the General Authority for Investment and Free Zones (GAFI), and the authority\u2019s Misr Investment for Development.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In detail<\/strong><strong>: <\/strong>Maxim will develop, manage, and operate the 40-feddan resort, which is set to providesome 4.5k job opportunities when fully operational. Naya Wellness will house the typical medical facilities \u2014 medical clinics, laboratories, and cosmetic clinics \u2014 as well as hotels, restaurants, and spaces for hosting events and workshops.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cThe project is the first of its kind in Egypt \u2026 [well-positioned to be] a globaldestination for medical tourism, ensuring a sustainable influx of foreign currency,\" Maxim Chairman Mohamed Karrar said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gafi\/\">GAFI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/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\/maxim-investment-group\/\">Maxim Investment Group<\/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=\"613221\" 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=\"613221\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/halan-closes-egp-971-5-mn-securitized-bond-issuance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/643.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613222\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/halan-closes-egp-971-5-mn-securitized-bond-issuance\/643-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/643.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"643.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/643.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/643.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613221\" class=\"content-area-description single-story post-613221 post type-post status-publish format-standard has-post-thumbnail hentry category-uncategorized tag-cib tag-debt-watch tag-enterpriseam tag-gb-capital tag-kpmg tag-matouk-bassiouny-hennawy tag-mnt-halan tag-securitization wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.bd659a98-fc06-4e0c-9b21-017a71761afb.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Halan brings EGP 3 bn securitization program to a close: <\/strong>Halan, the consumerfinance arm of MNT-Halan, has closed an EGP 971.5 mn securitized bond issuance, the third and final of an EGP 3 bn securitization program, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/595.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The six-tranche issuance is the first corporate securitization in 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Halan <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c1aa2dd4-7aff-485a-8507-e896eee36052\" style=\"\" rel=\"noopener\">closed<\/a> the second issuance in the program worth EGP 1.04 bn inSeptember of last year and the first EGP 978 mn issuance in December 2022.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>CIB was the financial advisor, transaction manager, arranger, promoter andbookrunner. <a target=\"_blank\" href=\"https:\/\/matoukbassiouny.com\/\" style=\"\" rel=\"noopener\">Matouk Bassiouny<\/a> served as counsel, <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/kpmg-eg\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">Hazem Hassan<\/a> \u2014 KPMG\u2019s Egypt branch \u2014 as auditor, and <a target=\"_blank\" href=\"https:\/\/capital-securitization.com\/\" style=\"\" rel=\"noopener\">GB\u2019s Capital for Securitization<\/a> as custodian.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-capital\/\">GB Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kpmg\/\">KPMG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/matouk-bassiouny-hennawy\/\">Matouk Bassiouny &amp; Hennawy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mnt-halan\/\">MNT-Halan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613223\" 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=\"613223\">\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\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/the-war-on-gaza-enters-its-95th-day\/\">\r\n                            The war on Gaza enters its 95th day                        <\/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 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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613224\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/the-war-on-gaza-enters-its-95th-day\/667-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/667.JPG?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"667.JPG\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/667.JPG?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/667.JPG?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613223\" class=\"content-area-description single-story post-613223 post type-post status-publish format-standard has-post-thumbnail hentry category-war-watch tag-enterpriseam tag-israel-palestine-conflict tag-middle-east-politics tag-war-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.6a48f0a9-3553-4b2e-a71d-deaa8368553c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>There\u2019s plenty of scrambling around, but little new to report on diplomatic efforts to end<\/strong><strong> the war in Gaza. <\/strong>Here\u2019s what you need to know:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>#1- Egypt\u2019s priority right now is brokering a ceasefire \u2014 and will look at post-war<\/strong><strong> reconstruction and security issues <\/strong>further down the road, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/egypt-rejects-israeli-request-monitor-buffer-zone-with-gaza-sources-2024-01-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing a mix of unnamed Egyptian and Israeli sources. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>#2- Israel isn\u2019t getting more oversight of the 13-km buffer zone <\/strong>between Egypt and Gaza, the newswire adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>#3- US Secretary of State Antony Blinken thinks Arab countries could consider taking<\/strong><strong> part in the \u201creconstruction and governance\u201d of Gaza <\/strong>when the war ends, <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/us-uae-saudi-arabia-blinken-israel-gaza-hamas-485f8a5cc3a9638ebdd9da8463e8322a\" style=\"\" rel=\"noopener\">Associated Press<\/a> reports. The newswire says Blinken namechecked Saudi, Jordan, Qatar, the UAE and Turkey \u2014 all countries he has visited so far. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>#4- No Arab country has made a commitment to do anything in Gaza <\/strong>despite persistent efforts in some Western circles (particularly in corners of DC) to shape a narrative that gives Saudi and the UAE responsibility for funding whatever happens post war, while Egypt and Jordan provide security. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>#5- Blinken reportedly <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/blinken-diplomatic-push-israel-it-says-gaza-war-continue-through-2024-2024-01-09\/\" style=\"\" rel=\"noopener\">told<\/a><\/strong><strong> Israeli leaders yesterday that the road to normalization with<\/strong><strong> the Arab world <\/strong>runs through recognition of a viable Palestinian state. Blinken\u2019s regional tour continues today, and he\u2019s expected in Egypt tomorrow. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>#6- Israel is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-shifts-deadlier-strikes-iran-linked-targets-syria-2024-01-08\/\" style=\"\" rel=\"noopener\">stepping up<\/a><\/strong><strong> its bombing of Syria <\/strong>and Hezbollah targeted an Israeli base in northern Israel yesterday.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war-watch\/\">war watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613225\" 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=\"613225\">\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\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/egyptians-aplenty-on-the-forbes-top-100-mideast-ceos-list\/\">\r\n                            Egyptians aplenty on the Forbes\u2019 top 100 Mideast CEOs list                        <\/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\/10\/egyptians-aplenty-on-the-forbes-top-100-mideast-ceos-list\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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alt=\"\" data-attachment-id=\"613226\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/egyptians-aplenty-on-the-forbes-top-100-mideast-ceos-list\/651-jpeg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/651.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"651.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/651.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/651.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613225\" class=\"content-area-description single-story post-613225 post type-post status-publish format-standard has-post-thumbnail hentry category-kudos tag-enterpriseam tag-forbes tag-kudos tag-palm-hills-developments 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\/.fe941b50-b3bc-4235-ae9f-d12d9aa4f14f.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Forbes is out with its annual ranking of the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-ceos-2023\/\" style=\"\" rel=\"noopener\">Middle East\u2019s top 100 CEOs<\/a><\/strong> \u2014 and 20 Egyptians have made the cut:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#10 - <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-ceos-2023\/hatem-dowidar\/\" style=\"\" rel=\"noopener\">Hatem Dowidar<\/a><\/strong>, CEO of e&<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#15 - <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-ceos-2023\/osama-rabie\/\" style=\"\" rel=\"noopener\">Osama Rabie<\/a><\/strong>, chairman and managing director of Suez Canal Authority<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#18 - <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-ceos-2023\/yasser-zaghloul\/\" style=\"\" rel=\"noopener\">Yasser Zaghloul<\/a><\/strong>, CEO of NMDC Group<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#20 - <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-ceos-2023\/ahmed-galal-ismail\/\" style=\"\" rel=\"noopener\">Ahmed Galal Ismail<\/a><\/strong>, CEO of Majid Al Futtaim Holding<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#25 - <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-ceos-2023\/hisham-okasha\/\" style=\"\" rel=\"noopener\">Hisham Okasha<\/a><\/strong>, executive chairman of the National Bank of Egypt<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#37 - <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-ceos-2023\/hisham-talaat-moustafa\/\" style=\"\" rel=\"noopener\">Hisham Talaat Mostafa<\/a><\/strong>, CEO and managing director of Talaat Moustafa Group Holding<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#40 - <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-ceos-2023\/mohamed-eletreby\/\" style=\"\" rel=\"noopener\">Mohamed El Etreby<\/a><\/strong>, chairman of Banque Misr.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#44 - <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-ceos-2023\/hussein-abaza\/\" style=\"\" rel=\"noopener\">Hussein Abaza<\/a><\/strong>, CEO and managing director of CIB<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#46 - <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-ceos-2023\/othman-a-ibrahim\/\" style=\"\" rel=\"noopener\">Othman A. Ibrahim<\/a><\/strong>, CEO of Rawabi Holding.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#47 - <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-ceos-2023\/mohamed-nasr-eldin\/\" style=\"\" rel=\"noopener\">Mohamed Nasr Eldin<\/a><\/strong>, CEO and managing director of Telecom Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#49 - <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-ceos-2023\/osama-bishai\/\" style=\"\" rel=\"noopener\">Osama Bishai<\/a><\/strong>, CEO of Orascom Construction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#51 - <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-ceos-2023\/sherif-beshara\/\" style=\"\" rel=\"noopener\">Sherif Beshara<\/a><\/strong>, CEO of Mohamed & Obaid Almulla Group and American Hospital Dubai.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#54 - <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-ceos-2023\/karim-awad\/\" style=\"\" rel=\"noopener\">Karim Awad<\/a><\/strong>, Group CEO and executive committee chair at EFG Holding.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#57 - <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-ceos-2023\/ahmed-abdelaal\/\" style=\"\" rel=\"noopener\">Ahmed Abdelaal<\/a><\/strong>, CEO of Mashreq.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#58 - <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-ceos-2023\/bassel-gamal\/\" style=\"\" rel=\"noopener\">Bassel Gamal<\/a><\/strong>, CEO of Qatar Islamic Bank<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#65 - <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-ceos-2023\/tarek-youssef-hosni\/\" style=\"\" rel=\"noopener\">Tarek Youssef Hosni<\/a><\/strong>, CEO of Jamjoom Pharma.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#68 - <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-ceos-2023\/said-zater\/\" style=\"\" rel=\"noopener\">Said Zater<\/a><\/strong>, CEO and managing director of Contact Financial Holding.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#83 - <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-ceos-2023\/tarek-el-sayed\/\" style=\"\" rel=\"noopener\">Tarek El Sayed<\/a><\/strong>, CEO and managing director of Al Rayyan Tourism Investment Company (ARTIC).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#88 - <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-ceos-2023\/omar-el-hamamsy\/\" style=\"\" rel=\"noopener\">Omar El Hamamsy<\/a><\/strong>, CEO of Orascom Development Egypt<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#89 - <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-ceos-2023\/khaled-abbas\/\" style=\"\" rel=\"noopener\">Khaled Abbas<\/a><\/strong>, chairman and managing director of the Administrative Capital for Urban Development (ACUD).<\/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>AND-<\/strong><strong>Palm Hills is Egypt\u2019s first 2024 Olympics sponsor:<\/strong> Our friends at real estate developer Palm Hills Development have signed a EGP 30 mn sponsorship contract with the Youth and Sports Ministry to support Egyptian athletes at the 2024 Paris Olympics and those looking to compete in 2028 iteration, a Sports Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/emysofficial\/posts\/pfbid0eBK4yEeJxMmXXKfbM3VB7fQBrM3fTSk996uCM1yRf8fPBeRo8vF8oGDP1hS5toEgl\" style=\"\" rel=\"noopener\">statement<\/a> said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/forbes\/\">Forbes<\/a>\n                <!-- <span 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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/613227\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613227\" class=\"content-area-description single-story post-613227 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/415.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613228\" 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=\"613228\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/maait-goes-to-washington-d-c\/\">\r\n                            Maait goes to Washington D.C.                        <\/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 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/666.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613229\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/maait-goes-to-washington-d-c\/666-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/666.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"666.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/666.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/666.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613228\" class=\"content-area-description single-story post-613228 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-imf tag-last-nights-talk-shows 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\/.4c4dec64-13a6-48ef-9d31-7e4700c50e5d.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ec<\/strong><strong>onomy once again dominated<\/strong><strong> last night\u2019s talk shows<\/strong>, with hosts focusing onFinance Minister Mohamed Maait, CBE Governor Hassan Abdalla, and International Cooperation Minister Rania Al Mashat\u2019s meeting with the US Treasury secretary in Washington yesterday. However, the nation\u2019s talking heads also found time to talk about an Egyptian-Jordanian-Palestinian summit set to take place in Aqaba today.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Will Egypt get a yes from the IMF? <\/strong>If the Egyptian delegation is able to convince the IMF and US Treasury Department officials to support us, the current year will be less difficult than expected and Egypt will witness a major breakthrough in terms of the loan program and its expansion, economist Medhat Nafie told Kelma Akhira. Egypt needs to increase the size of the IMF package to no less with USD 6 bn with \u201csome flexibility\u201d regarding future reviews, Nafie added. (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1100573861102595\" style=\"\" rel=\"noopener\">watch, runtime: 2:21<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The<\/strong><strong> World Bank\u2019s lates<\/strong><strong>t growth forecasts for the <\/strong><strong>globe<\/strong><strong> are the worst in 30 years <\/strong>and put 2024 on route to be the worst and slowest year in terms of global economic and trade growth rates, Lamees El Hadidi said during Kelma Akhira, (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=334320946088018\" style=\"\" rel=\"noopener\">watch, runtime: 1:15<\/a>). The lender\u2019s report also received coverage from Ahmed Musa on Ala Mas\u2019ouleety, (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=336942675890554\" style=\"\" rel=\"noopener\">watch, runtime: 10:32<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tr<\/strong><strong>ipartite summit in <\/strong><strong>Aqaba:<\/strong> Today\u2019s anticipated summit between Egypt, Jordan, and Palestine in Aqaba will be a time for the three countries to discuss the ongoing conflict in Gaza and the future of the enclave after the war, El Hadidi said. The timing of the summit is important as it coincides with US Secretary of State Anthony Blinken\u2019s tour of the region before he lands down in Egypt as it is the only country to have put forward a clear plan for post-war arrangements in Gaza El Hadidi told her viewers. El Hadidi also pointed to the shift in Blinken\u2019s statements regarding the US\u2019 desire to end the war as soon as possible and the need for Israel to give Palestinians their rights (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=942583740627820\" style=\"\" rel=\"noopener\">watch, runtime: 3:15<\/a> | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=345058831789511\" style=\"\" rel=\"noopener\">3:48<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also on the airwaves last night:<\/strong><\/p>\n<ul>\n<li><strong>A <\/strong><strong>seven-pronged strategy to de<\/strong><strong>velop the EGX: <\/strong>EGX boss Ahmed El Sheikh appeared on Masaa DMC to discuss a plan to support and encourage trading on the bourse. El Sheikh added that the EGX is capable of achieving much larger daily trading volumes, but that the instability of the exchange rate currently restricts the entry of foreign investors into the market (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=887161519578860\" style=\"\" rel=\"noopener\">watch, runtime 5:15<\/a> | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/dmctv\/videos\/1066321167846888\" style=\"\" rel=\"noopener\">6:18<\/a> | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/dmctv\/videos\/1472680486675730\" style=\"\" rel=\"noopener\">4:49<\/a> | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=883977756545789\" style=\"\" rel=\"noopener\">3:38<\/a> | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=7259399964123853\" style=\"\" rel=\"noopener\">4:32<\/a> | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=386926630406036\" style=\"\" rel=\"noopener\">6:27<\/a>).<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613230\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div 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Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/centamin-sees-encouraging-results-from-maiden-drilling-in-the-eastern-desert-plus-egypt-x-ksa-mining-cooperation-ecab-el-hazek-fintech-news\/\">\r\n                            Centamin sees \u201cencouraging\u201d results from maiden drilling in the Eastern Desert. PLUS: Egypt x KSA mining cooperation, Ecab, El Hazek, fintech news                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/centamin-sees-encouraging-results-from-maiden-drilling-in-the-eastern-desert-plus-egypt-x-ksa-mining-cooperation-ecab-el-hazek-fintech-news\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/centamin-sees-encouraging-results-from-maiden-drilling-in-the-eastern-desert-plus-egypt-x-ksa-mining-cooperation-ecab-el-hazek-fintech-news\/')\">\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\/10\/centamin-sees-encouraging-results-from-maiden-drilling-in-the-eastern-desert-plus-egypt-x-ksa-mining-cooperation-ecab-el-hazek-fintech-news\/\">\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=Centamin sees \u201cencouraging\u201d results from maiden drilling in the Eastern Desert. PLUS: Egypt x KSA mining cooperation, Ecab, El Hazek, fintech news&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/centamin-sees-encouraging-results-from-maiden-drilling-in-the-eastern-desert-plus-egypt-x-ksa-mining-cooperation-ecab-el-hazek-fintech-news\/\">\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\/10\/centamin-sees-encouraging-results-from-maiden-drilling-in-the-eastern-desert-plus-egypt-x-ksa-mining-cooperation-ecab-el-hazek-fintech-news\/&title=Centamin sees \u201cencouraging\u201d results from maiden drilling in the Eastern Desert. 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The agreement also seeks to promote the role of the private sector in both countries working in the mineral resources sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PRIVATIZATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gov\u2019t studies proposals on what to do with Egyptian Iron and Steel land: <\/strong>The Public Enterprise Ministry will conclude studies on how to dispose of the land to the south of Cairo where the now-liquidated state-owned Egyptian Iron and Steel was built within three to six months, Public Enterprise Minister Mahmoud Esmat told <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/524cp3n9\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> and <a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1744708971892441359\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The land may be used to build for residential projects in partnership with investors and some of it may be allocated to bridges or roads, Esmat said. The ministry last week received several offers for the land from private sector players \u2014 including from a local university \u2014 the minister added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Egyptian Iron and Steel was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bad9da9-4715-4ca2-af68-dc753167b285\" style=\"\" rel=\"noopener\">liquidated<\/a> three years ago in a bid to pay off some of its EGP 9 bn in outstanding debt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">EMPLOYMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cabinet doubles down on sending workers abroad: <\/strong>Prime Minister MoustafaMadbouly ordered the establishment of a ministerial task force to set a plan for increasing the number of skilled workers abroad, a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0FiesSaXTXH3ufxmsFhS71QKvxASdLiKvNPDqXk9B3uaHAbhC1PW9i6zmcynE5utml\" style=\"\" rel=\"noopener\">cabinet statement<\/a> read yesterday. The move is part of the government\u2019s efforts to help <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f38df1dd-a9e4-4ccb-8955-6dc261f41515\" style=\"\" rel=\"noopener\">1 mn Egyptians<\/a> access labor markets in developed countries by 2030 by providing specialized training programs that was unveiled in a new <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/316.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a> from the Cabinet Information and Decision Support Center.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">LEGISLATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Reforming Egypt\u2019s tourism legislation:<\/strong> The Madbouly government is currently looking into reforming laws governing tourism, a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid032HL2F8aVemuYKmiaU1bsGUxH2V8PpYW2Np6n6BSQBju6sp5dCNiK3ZuJZkEWaUJxl\" style=\"\" rel=\"noopener\">cabinet statement<\/a> said yesterday. These include issuing a new law regarding the establishment of a tourism chambers and an adjacent union, a draft law dealing with foreign tourists, and preparing the general framework for a draft law regulating tourism companies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TRADE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Local currency-dominated trade with Pakistan in the works? <\/strong>Pakistan is open to trading with Egypt using local currencies \u2014 with a particular focus on wheat \u2014 its Trade Minister Jawhar Ijaz told Asharq Business, the outlet <a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1744694261998645673?s=20\" style=\"\" rel=\"noopener\">said on X<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">FINTECH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fintech startups may soon be allowed to enter the ins. sphere: <\/strong>The Financial Regulatory Authority (FRA) is looking into handing fintech startups licenses to offer ins. services, FRA Deputy Chairman Islam Azzam told <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/yz4ay6n5\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The authority has not yet determined the minimum capital requirement for such licenses, Azzam added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The FRA earlier this week set the minimum issued and paid-up capital needed for fintech startups to receive two-year licenses for non-bank financial services (NBFS) at <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a6c16fd-37a3-4fc9-b529-484e744aed3b\" style=\"\" rel=\"noopener\">EGP 15 mn<\/a>. These services include mortgage finance, MSME finance, leasing, factoring, and consumer finance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Production at Ecab\u2019s Saudi facility set to kick off by mid-2024: <\/strong>Local cable manufacturer <a target=\"_blank\" href=\"https:\/\/www.ecab-eg.com\/\" style=\"\" rel=\"noopener\">Ecab<\/a> plans to begin operations at its Saudi facility by mid-2024, CEO Said Abdelwahab told <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/projects\/industry\/ecab-saudi-factory-to-start-production-by-mid-2024-r8613kp3\" style=\"\" rel=\"noopener\">Zawya<\/a> yesterday. The USD 10 mn factory in Jeddah will produce ethernet cables and server cabinets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">FINANCIAL SERVICES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Hazek to get financing for construction projects: <\/strong>Local construction company <a target=\"_blank\" href=\"https:\/\/www.elhazek.com\/\" style=\"\" rel=\"noopener\">El<\/a><a target=\"_blank\" href=\"https:\/\/www.elhazek.com\/\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.elhazek.com\/\" style=\"\" rel=\"noopener\">Hazek Construction<\/a> is borrowing EGP 1.3 bn via a financial leasing agreement with a syndicate of lenders to finance the capital expenditure of two of its subsidiaries, Abu Dhabi Islamic Finance (ADIFinance) \u2014 the leasing subsidiary for Abu Dhabi Islamic Bank Egypt \u2014 said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/632.pdf\" style=\"\" rel=\"noopener\">a statement<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/632.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a> yesterday. The syndicate is led by <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/uefinance-eg\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">UE Finance<\/a> and includes ADIF Finance, Aur Leasing, AT Lease, and Cairo Leasing Corporation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s been a good start to the year for El Hazek, <\/strong>which closed an <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> to build the final stages of its Madinat Masr\u2019s <a target=\"_blank\" href=\"https:\/\/madinetmasr.com\/taj-city\" style=\"\" rel=\"noopener\">Taj City<\/a> project as well as the latter\u2019s new company headquarters.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/adib\/\">Adib<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/centamin\/\">Centamin<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-iron-and-steel\/\">Egyptian Iron and Steel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-hazek\/\">El Hazek<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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id=\"613233\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/saudi-arabia-raises-usd-12-bn-in-largest-bond-sale-since-2017\/\">\r\n                            Saudi Arabia raises USD 12 bn in largest bond sale since 2017                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-planet-finance tag-saudi-arabia tag-treasuries 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\/.c2b26304-10ee-4373-848b-478078a1fa0a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi Arabia made its biggest bond sale since 2017 yesterday<\/strong>,raising USD 12bn, according to a <a target=\"_blank\" href=\"https:\/\/ndmc.gov.sa\/en\/mediacenter\/news\/Pages\/News_09012024.aspx\" style=\"\" rel=\"noopener\">statement<\/a> from the National Debt Management Center. The issuance was 2.5x oversubscribed and the kingdom received orders totalling USD 30 bn.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why did Saudi Arabia tap the debt market?<\/strong> With oil prices trading lower relative to the budget needs of the country \u2014 whose economy relies heavily on oil \u2014 it needed to tap another funding source to back its ambitious projects pushed by Crown Prince Mohammed bin Salman, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-09\/saudi-arabia-borrows-12-billion-as-em-nations-load-up-on-bonds?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> wrote. Last week, Saudi Arabia estimated its funding needs for 2024 at roughly SAR 86 bn (USD 23 bn), its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/520.pdf\" style=\"\" rel=\"noopener\">annual borrowing plan (pdf)<\/a> showed.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH MENTIONING-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Eurozone <\/strong><strong>unemployment <\/strong><strong>slips back to record low: <\/strong>Unemployment in the eurozonefell back to 6.4% in November from 6.5% the month before \u2014 a drop that could complicate widely expected rate cuts by the European Central Bank as wage growth could elevate prices. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2c66254f-54e7-46d2-8c7b-fcd9862f9cf4\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/p><p><a target=\"_blank\" id=\"t.b33d4beaf25156b4e8ab4bd3c7c8bb9626edb30d\" 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\">25,590<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.0% (YTD: +2.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.83<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.96<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.85<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.95<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,198<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +1.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,767<\/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: +2.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,118<\/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: +1.4%)<\/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>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\">4,756<\/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: -0.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">7,684<\/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: -0.6%)<\/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>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\">4,467<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: -1.2%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 77.59<\/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\">+1.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 3.19<\/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\">+7.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,033.00<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 45,715.90<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.7% (YTD: +10.4%)<\/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 1.0% at yesterday\u2019s close<\/strong> on turnover of EGP 4.0 bn (19.3% above the 90-day average). Regional investors were net buyers. The index is up 2.8% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Abu Qir Fertilizers (+3.4%), Beltone Holding (+3.2%), and Eastern Company (+2.8%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Ezz Steel (-1.5%), CIRA Education (-1.4%), and Oriental Weavers (-0.8%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are largely in the red this morning<\/strong>, with Japan\u2019s Nikkei being the notable exception. Traders in Tokyo look set to notch another 33-year high after yesterday\u2019s high-water mark, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/01\/10\/asia-markets.html\" style=\"\" rel=\"noopener\">CNBC<\/a> suggests. Futures show stocks in Europe, on Wall Street, and on Bay Street opening in the red later today.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/treasuries\/\">treasuries<\/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=\"613235\" 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=\"613235\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/10\/german-foreign-minister-discusses-gaza-with-shoukry\/\">\r\n                            German foreign minister discusses Gaza with Egypt\u2019s Shoukry                        <\/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\/10\/german-foreign-minister-discusses-gaza-with-shoukry\/\" 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 two officials held a press conference, (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=wSJVlHjiTQU\" style=\"\" rel=\"noopener\">watch, runtime: 33:19<\/a>), where Baerbock called on the international community to help organize security in Gaza and said that a reformed Palestinian Authority must take a leadership role in the enclave in the post-war period.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/germany\/\">Germany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palestine\/\">Palestine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/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=\"613237\">\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\">11<\/div>\r\n    \r\n                        <p class=\"f-graphik\">HARDHAT<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/a-look-through-govt-targets-for-the-infrastructure-sector-over-the-next-six-years\/\"> \r\n                            A look through gov\u2019t targets for the infrastructure sector over the next six years<\/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\" 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/a-look-through-govt-targets-for-the-infrastructure-sector-over-the-next-six-years\/975-jpg-21\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/975.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"975.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/975.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/975.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-613237\" class=\"content-area-description post-613237 hardhat type-hardhat status-publish has-post-thumbnail hentry category-hardhat tag-electricity tag-energy tag-enterprise-hardhat tag-enterpriseam tag-hardhat tag-housing tag-infrastructure tag-oil-and-gas tag-water wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>More inf<\/strong><strong>rastructure reforms for El Sisi\u2019s third term: <\/strong>The government has laid out itsambitious targets for infrastructure and exports for the next six years over President Abdel Fattah El Sisi\u2019s third term in the Cabinet Information and Decision Support Center\u2019s recently released <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/316.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a>.Among the biggest targets are: plans for digital transformation, boosting exports in oil and gas and electricity, increasing water security, and tackling unplanned areas. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** In case you missed it, we dove deeper<\/strong> into the more strictly economic aspects of the report <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63475988-4cb4-4a7f-8124-9a9bc5677029\" style=\"\" rel=\"noopener\">here<\/a> and our renewable energy targets <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15d6f791-948f-4bbb-9bd3-3ddb57475e44\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ENERGY POWERHOUSE AMBITIONS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big oil + gas export targets: <\/strong>Oil and gas exports are set to double to USD 36 bn \u2014 a number the government hopes to achieve through streamlining procedures for investors and offering more oil and gas exploration bids and expanding exploration activities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emissions reductions are still a priority:<\/strong> The government is eyeing a 65% reduction in emissions from the oil and gas sector and an end to routine gas flaring by the end of the decade, according to the report. The government also wants to develop a regulatory framework for methane emissions from the sector by the end of the year, the report added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Electricity exports will also get a boost:<\/strong> Egypt envisions itself as a regional electricity hub, aiming to double its daily exports to 1.5 GW. The country will achieve this by implementing electrical interconnection projects, becoming a gateway for European energy through Greece and Italy, and strengthening electric connections with neighboring countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a45b2def-700c-4c85-95d1-4266c2835580\" style=\"\" rel=\"noopener\">Four Egypt-Europe interconnectors<\/a><\/strong><strong> are in the cards.<\/strong> The atest proposals include a 3-GW Scatec-backed link and a 3-GW Italy-funded connection, both targeting Egypt-Italy connections. The 2 GW Greece-Africa Power Interconnector (GAP) advanced with a signed MoU last year, and is expected to be completed by 2030. Meanwhile, the 2 GW EuroAfrica Interconnector remains stalled, with no news on consultant selection \u2014 initially planned for 2H 2023 \u2014 yet.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b723d27d-d077-4174-8b5d-9233d65a80dc\" style=\"\" rel=\"noopener\">Egypt and Jordan are exploring<\/a><\/strong><strong> a cost-effective upgrade to their electricity<\/strong><strong> link<\/strong> through a 1.1 GW subsea cable, currently under technical and financial assessment, a government source told us previously. This subsea option complements the planned 2 GW expansion and could break ground on the first phase as early as 1Q 2024 if implemented.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt also recently launched the first phase of its 300-MW interconnection project with<\/strong><strong>Sudan.<\/strong>This initial stage serves as a springboard for further expansion, aiming to reach 3k MW in the next phase, <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/35whu8ru\" style=\"\" rel=\"noopener\">Youm7<\/a> reported previously.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As will mineral mining:<\/strong> Egypt is also planning to boost the contribution of mineral mining to GDP from 0.5% to 5% by 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">WATER SECURITY + INFRASTRUCTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sewage coverage to expand: <\/strong>Egypt intends to provide 100% sewage coverage nationwide by 2030 with a plan to expand drainage networks to cover 6.4 mn feddans. The government is also looking to upgrade irrigation systems and expand them to revitalize 1.1 mn feddans. A USD 50 bn water resources management plan tackles quality, treatment, and efficiency, while a seawater desalination program aims to increase capacity by 3.35 mn cbm per day by 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Desalination plants to be offered up to the private sector in 1H 2024:<\/strong> Four desalination plants will be offered up to the private sector in the first half of 2024 to kick off the government's plan to tender 21 plants in total. The tender for the first batch of plants, which a Sovereign Fund of Egypt (SFE) spokesperson <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f776d860-3854-414f-b89b-c8755dae0862\" style=\"\" rel=\"noopener\">told us in May<\/a> was set to kick off in 3Q 2023, was waiting on the land allocation process to be completed and revisions for financials in light of exchange rate fluctuations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government is also focusing on flood mitigation measures through 30 rainwater<\/strong><strong> collection facilities<\/strong>, rainwater harvesting initiatives, and extensive drainage network upgrades across 60k feddans in the short term, the report said, without specifying an exact timeframe for the upgrades.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">HOUSING + SLUMS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt's urban environment is set for a significant makeover:<\/strong> The government is planning todouble the currently inhabited area of the country to 14% by 2030, the report said. This will include a EGP 318 bn strategy tackling unplanned areas, with 672k new housing units \u2014 including social housing \u2014 set to be built annually The government also plans to establish 30 new smart cities \u2014 also referred to as fourth-generation cities \u2014 with housing to accommodate 15-20 mn people. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DIGITAL INFRASTRUCTURE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government also has plans to boost the country\u2019s digital infrastructure by: <\/strong><\/p>\n<ul>\n<li><strong>Nearly tripling outsourcing exports to USD 13 bn<\/strong>;<\/li>\n<li><strong>Building 45k new mobile network towers<\/strong> nationwide; <\/li>\n<li><strong>Launching a digital and IT freezone in the Suez Canal Economic Zone<\/strong>;<\/li>\n<li><strong>Boosting the tech sector's contribution to GDP from 3.4% to 7%;<\/strong><\/li>\n<li><strong>Setting up 20 fiber optic cable factories across the country<\/strong> and connecting all government buildings to fiber optic networks, as well as <strong>boosting fiber optic cable exports to Africa. <\/strong><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Next week: <\/strong>We\u2019ll break down the government\u2019s targets and plans for the logistics and transport sectors. <\/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>AD Ports to operate three tourism terminals: <\/strong>AD Ports has inked a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/750eb2f1-7cf3-421f-9043-c63941a6c7d3\" style=\"\" rel=\"noopener\">USD 3 mn initial agreement<\/a> with the Red Sea Port Authority to operate and manage three cruise terminals in Hurghada, Safaga, and Sharm El Sheikh.<\/li>\n<li><strong>Tarboul is getting an EV factory:<\/strong> Russian EV manufacturer Concordia is setting up an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/750eb2f1-7cf3-421f-9043-c63941a6c7d3\" style=\"\" rel=\"noopener\">electric vehicle components factory<\/a> in GV Investments\u2019s Tarboul industrial project in Giza.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/housing\/\">housing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/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=\"613239\" 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\/10\/613239\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613239\" class=\"content-area-description single-story post-613239 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 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 February (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 style=\"font-weight:400;\">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>25-26 September (Wednesday - Thursday): The Asian Infrastructure Investment Bank\u2019s (AIIB) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aiib.org\/en\/news-events\/events\/annual-meetings\/2024\/index.html\" style=\"\">2024 annual meeting<\/a><\/span><span>, <\/span><span>Samarkand, Uzbekistan.<\/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;\">January 2024: The Red Sea Ports Authority is set to finalize an agreement with the Abu Dhabi Ports Group for the operation and maintenance of the tourist passenger terminal in the Sharm El Sheikh Sea Port.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1Q 2024: Egyptian-Qatari Joint Supreme Committee.<\/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;\">1Q 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;\">1H 2024: The European Union is set to hold an investment conference in Egypt during spring.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2H 2024: Gov\u2019t to launch the Cairo Ring Road BRT buses.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>November 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LLPJRjsu6SZLwtRHuLmCQxoAZB3xaXVXH8aYkMSEH3ae4aW6JCZaPe5h5u9nKmcRl\" style=\"\">Egypt to host<\/a><\/span><span style=\"font-weight:400;\"> the World Urban Forum (WUF12).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2024: The launch of the high-speed train line linking Ain Sokhna with Al Alamein City. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2024: Standard Chartered Bank to open a branch in Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2Q 2025: Safaga Terminal 2 to start operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>State privatization list tripled? | Maait x IMF, Treasury | Egypt\u2019s first medical resort | More securitization | Centamin strikes gold<\/p>\n","protected":false},"featured_media":613211,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-613210","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"8a3a971f-5d9a-495c-b838-849a84f7853b","teaser":"State privatization list tripled? | Maait x IMF, Treasury | Egypt\u2019s first medical resort | More securitization | Centamin strikes gold","photo_url":"https:\/\/ent.news\/2024\/1\/671.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>World Bank downgrades Egypt\u2019s GDP growth for FY 23\/24 to 3.5% - 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\/world-bank-downgrades-egypts-gdp-growth-for-fy-23-24-to-3-5\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World Bank downgrades Egypt\u2019s GDP growth for FY 23\/24 to 3.5%\" \/>\n<meta property=\"og:description\" content=\"State privatization list tripled? | Maait x IMF, Treasury | Egypt\u2019s first medical resort | More 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