{"id":613325,"date":"2024-01-14T00:00:00","date_gmt":"2024-01-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=613325"},"modified":"2025-12-17T03:11:02","modified_gmt":"2025-12-17T03:11:02","slug":"imf-says-loan-program-success-dependent-on-additional-funding","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-says-loan-program-success-dependent-on-additional-funding\/","title":{"rendered":"IMF says loan program success dependent on additional funding"},"content":{"rendered":"<section id=\"613327\" 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=\"613327\">\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\/14\/a-larger-imf-package-looks-like-a-question-of-if-and-not-when\/\">\r\n                            A larger IMF package looks like a question of if and not when                        <\/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\/14\/a-larger-imf-package-looks-like-a-question-of-if-and-not-when\/\" target=\"_blank\">\n                    Open in 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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613328\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/a-larger-imf-package-looks-like-a-question-of-if-and-not-when\/789-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/789.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"789.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/789.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/789.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613327\" class=\"content-area-description single-story post-613327 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-imf 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\/.31add32f-58d0-409e-ac84-3b192d1b31e2.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends. <\/strong>The week is already shaping up to be a busy one with lots of economy and business news and the US and UK airstrikes in Yemen setting the agenda before the week has even started. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Particularly worthy of attention: <\/strong>There are signs we could make progress before the end of the month on both a larger IMF facility and a package of investment and aid from the European Union. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egyptian and European officials are set to meet a week from Tuesday<\/strong>, and our top diplomat in Europe is making it clear that we\u2019re looking for an \u201cupgrade of relations\u201d that would include everything from more economic support to investment guarantees. Meanwhile, an IMF spokesperson has said that talks for a larger facility will continue in the coming weeks to \u201coperationalize the key policy priorities,\u201d including fiscal reforms and a flexible exchange-rate policy.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have more on both stories below. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PSA- Hold onto your hats and keep your umbrellas close: <\/strong>We\u2019re in for a cold andwindy week paired with rain and foggy mornings today and tomorrow, according to the <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/850965543740534\" style=\"\" rel=\"noopener\">Egyptian Meteorological Authority<\/a>. Look for daytime highs of 23\u00b0C and lows of 7\u00b0C in the evening through Friday, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But first:<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>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> \u2014 it\u2019s launching this <\/strong><strong>week.<\/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. It will be published 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 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\">WATCH THIS SPACE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>We\u2019ve set terms for helping the EU control migration: <\/strong>\u201cEconomic support, investment guarantees, technology transfer, jobs, and food security\u201d is what we want from the European Union in exchange helping it curb migration across the Mediterranean, ambassador to the EU Badr Abdelatty told the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/263af875-ec67-4fdd-8daf-18803ebd1dbe\" style=\"\" rel=\"noopener\">Financial Times<\/a> ahead of a meeting between Egypt and European officials on 23 January. The EU has already committed to paying EUR 160 mn to support refugees and border management until 2027, but we are looking for more as the nation copes with fallout from the \u201cUkraine crisis, from Covid, and the situation in Gaza,\u201d Abdelatty told the salmon-colored paper, saying what we\u2019re looking for is \u201can overall upgrade of relations.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: The EU has been rumored to be putting together a plan to mobilize as much <\/strong><strong>as<\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e025525-f961-4982-baca-d63fd8de7b85\" style=\"\" rel=\"noopener\">EUR 10 bn of investment<\/a><\/strong> alongside debt relief measures to help stabilize Egypt\u2019s economy and curb migration across the Mediterranean.<\/p><p class=\"tag-border-left\">HAPPENING TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#1- Th<\/strong><strong>e Pharaohs take to the pitch for Afcon 2024: <\/strong>Egypt kicks off its Afcon campaign tonight when they meet Mozambique at La Felicia Stadium in Abidjan <a target=\"_blank\" href=\"https:\/\/www.cafonline.com\/caf-africa-cup-of-nations\/afcon-matches\/\" style=\"\" rel=\"noopener\">at 7pm CLT<\/a>. We are favored to lead Group B ahead of Ghana, which we will clash with on Thursday before playing against Cape Verde in the final group stage match on Monday, 22 January.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where to watch it:<\/strong><a target=\"_blank\" href=\"https:\/\/www.beinsports.com\/en-au\/tv-guide\" style=\"\" rel=\"noopener\">beIN SPORTS 1<\/a> <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#2- <\/strong><strong>The House is in session:<\/strong> The House will discuss and vote on a draft bill to set up a new authority tasked with investing and \/ or disposing of confiscated funds and assets. The House will also vote on an amendment to the law regulating the Police Authority. The MPs are also set to discuss an agreement to end double taxation between Egypt and Croatia. <\/p><p class=\"tag-border-left\">HAPPENING THIS WEEK- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Davos 2024 is nearly upon us: <\/strong>The skies will soon be filled with private jets heading to Switzerland for the <a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2024\/\" style=\"\" rel=\"noopener\">World Economic Forum<\/a> in Davos set to kick off tomorrow and run until Friday. This year\u2019s theme is an optimistic \u201crebuilding trust\u201d, but \u201cclimate, chaos and war\u201d are already filling a doomy agenda, <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/business\/2024\/jan\/13\/davos-world-economic-forum-climate-chaos-war\" style=\"\" rel=\"noopener\">writes the Guardian\u2019s Larry Elliot<\/a>. You can check out the forum\u2019s official teaser agenda <a target=\"_blank\" href=\"https:\/\/www.weforum.org\/agenda\/2023\/12\/davos-2024-what-to-expect-and-whos-coming\/\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#2- <\/strong><strong>China\u2019s foreign minister is due in town: <\/strong>China\u2019s Foreign Minister Wang Yi is setto touch down in Egypt sometime this week during a six-day tour of Africa that started yesterday, which will also see him visit Tunisia, Togo, and Cote d'Ivoire, China\u2019s Foreign Ministry said on Thursday. <\/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\">PROJECT UPDATE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The region\u2019s largest wind farm gets a land use agreement:<\/strong> A consortium led bySaudi\u2019s ACWA Power and our friends at Hassan Allam Utilities signed a 25-year long-term land use agreement with the New and Renewable Energy Authority (NREA) on Wednesday for its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2853d3da-411c-443c-869a-de7e74e1b45e\" style=\"\" rel=\"noopener\">1.1 GW wind farm<\/a> in the Gulf of Suez \u2014 set to be the largest in the Middle East and cost up to USD 1.5 bn \u2014 <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/689.pdf\" style=\"\" rel=\"noopener\">a joint statement (pdf<\/a>) read.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next: <\/strong>Wrapping up site studies and lining up finance for the project, which when operational will offset 2.4 mn tons of carbon dioxide annually and produce enough power for nearly 1.1 mn households.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Democratic Progressive Party candidate Lai Ching-te has been <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/asia\/taiwan-presidential-elections-2024-baa62e17\" style=\"\" rel=\"noopener\">elected<\/a><\/strong><strong> president of <\/strong><strong>Taiwan.<\/strong> Beijing had warned the Taiwanese people to make the \u201cright choice\u201d before the presidential race and avoid voting for the DPP. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- The Iowa caucuses will kick off the 2024 US presidential race on Monday. <\/strong>Bone-chilling cold and a blizzard could affect turnout. CNBC has a <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/01\/13\/the-iowa-caucuses-are-on-monday-heres-what-you-need-to-know.html\" style=\"\" rel=\"noopener\">primer<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.politico.com\/live-updates\/2024\/01\/13\/iowa-caucus\/iowa-caucus-poll-register-00135486\" style=\"\" rel=\"noopener\">Politico<\/a> notes that polling shows former President Donald Trump \u201ccruising.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN BUSINESS HEADLINES you\u2019ll want to <\/strong>know about this morning:<\/p><ul>\n<li>The US aviation regulator has <strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1588974e-db75-4a02-9aff-deb0b75ed379\" style=\"\" rel=\"noopener\">grounded<\/a><\/strong><strong> Boeing\u2019s 737 Max 9<\/strong> pending receipt of further data from Boeing;<\/li>\n<li><strong>Canada could cap the number of international students <\/strong>it <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/americas\/canada-facing-housing-shortage-consider-cap-international-students-minister-2024-01-13\/\" style=\"\" rel=\"noopener\">accepts each year<\/a> as the Trudeau government faces a crisis over the affordability of housing;<\/li>\n<li><strong>John Kerry is retiring<\/strong> as the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/policy\/john-kerry-to-step-down-as-bidens-climateenvoy-83bd06d2\" style=\"\" rel=\"noopener\">top US climate negotiator<\/a>.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/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=\"613329 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=\"613329\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/613329\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613329\" class=\"content-area-description single-story post-613329 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\/156.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=\"613330\" 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=\"613330\">\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\/14\/another-sign-were-edging-towards-a-larger-imf-package\/\">\r\n                            Success of Egypt\u2019s IMF loan program is contingent on additional financing, says IMF                        <\/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\/14\/another-sign-were-edging-towards-a-larger-imf-package\/\" 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\/14\/another-sign-were-edging-towards-a-larger-imf-package\/')\">\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\/14\/another-sign-were-edging-towards-a-larger-imf-package\/\">\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=Another sign were edging towards a larger IMF package&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/another-sign-were-edging-towards-a-larger-imf-package\/\">\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\/14\/another-sign-were-edging-towards-a-larger-imf-package\/&title=Another sign were edging towards a larger IMF package\">\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=Another+sign+were+edging+towards+a+larger+IMF+package+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F14%2Fanother-sign-were-edging-towards-a-larger-imf-package%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\/14\/another-sign-were-edging-towards-a-larger-imf-package\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/747.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613331\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/another-sign-were-edging-towards-a-larger-imf-package\/747-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/747.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"747.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/747.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/747.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613330\" class=\"content-area-description single-story post-613330 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-central-bank-of-egypt tag-economy tag-emerging-markets tag-enterpriseam tag-fiscal-policy tag-imf wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.bb6dc5b7-e201-4bce-8507-1a8c6d1871aa.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Unlocking a larger IMF package is \u201ccritical\u201d <\/strong>for the success of Egypt\u2019s loan program, the international lender\u2019s director of communications, Julie Kozack, said during a press briefing (<a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2024\/01\/11\/tr011124-transcript-of-imf-press-briefing\" style=\"\" rel=\"noopener\">watch, runtime: 49:05<\/a>). She did not provide any details on the size of the larger package needed or a timeline on when we can expect it to be announced. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We knew a larger IMF program was in the cards <\/strong>after IMF Managing Director KristalinaGeorgieva <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e3b6af2-e413-454a-ad16-4b0f5e9184cb\" style=\"\" rel=\"noopener\">said in November<\/a> that the Fund was \u201cseriously considering\u201d increasing Egypt\u2019s USD 3 bn loan program, as pressures from the conflict in Gaza pose further pressures on the country. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s all still being negotiated: <\/strong>The Fund is currently in discussions with Egyptian authoritiesregarding the policy requirements necessary for the Fund to sign off on the first two reviews of the loan program, namely <strong>tightening fiscal and monetary policy and moving towards a flexible exchange rate<\/strong>, Kozack said. \u201cWe expect those discussions to continue in the coming weeks to operationalize the key policy priorities \u2026 which would support the authorities\u2019 commitment to reduce inflation and to gradually move to an inflation-targeting regime,\u201d she added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IMF acknowledges we\u2019re in a tight spot: <\/strong>\u201cEgypt already faces a complicated and challenging macroeconomic situation. And that situation has been made more complicated by the conflicts between Israel and Gaza,\u201d Kozack said. She pointed to the impact of the war on \u201careas that support the current account\u201d like tourism and Red Sea disruptions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>Georgieva <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/66514948-fc7f-4c14-a7bf-edbce84eb382\" style=\"\" rel=\"noopener\">met last week<\/a> with CBE Governor Hassan Abdalla and Finance Minister Mohamed Maait, Kozack said, without giving away the details of the meetings, but signaled that there was \u201cimportant progress in the discussions.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How much are we talking? <\/strong>The government is reportedly looking for another USD 2 bn from the IMF, which would increase the loan program to USD 5 bn, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cd3e36a4-25a3-4129-9e86-f88ce45ca113\" style=\"\" rel=\"noopener\">unconfirmed media reports<\/a> said in October. The usually well-sourced nighttime talkshow host Lamees El Hadidi <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a19a6a8-e2b9-4824-b891-129abf0dc6c0\" style=\"\" rel=\"noopener\">says<\/a> we could even get up to 4x what the fund had originally pledged, after her sources told her that authorities are in talks with the Fund over potentially raising the value of the loan to USD 10-12 bn (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=a-9WmKg7wZk\" style=\"\" rel=\"noopener\">watch, runtime: 5:13<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- <\/strong><strong>JP Morgan Chase is taking Egypt out of its Government Bond <\/strong><strong>Index-Emerging Markets <\/strong>\u2014 indices that track local currency bonds issued by EM governments \u2014 at the end of this month, the bank said in a report seen by <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-11\/jpmorgan-cuts-egypt-from-key-bond-indexes-as-fx-shortages-mount\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. It will also remove the country from the Emerging Local Markets Index Plus (ELMI+) \u2014 a group of indices that tracks total returns for local currency denominated money market instruments in EMs \u2014 on 29 March due to the persistent FX shortage in the country.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fiscal-policy\/\">fiscal policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613332\" 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=\"613332\">\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\/14\/adq-acquires-stake-in-7-egyptian-historic-hotels-through-40-5-share-in-tmg-subsidiary\/\">\r\n                            ADQ acquires stake in 7 Egyptian historic hotels through 40.5% share in TMG subsidiary                        <\/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\/14\/adq-acquires-stake-in-7-egyptian-historic-hotels-through-40-5-share-in-tmg-subsidiary\/\" 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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ADQ will own a stake in Icon\u2019s existing portfolio including the recently-acquired seven historic hotels.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Icon acquired a 39% stake in seven historic hotels under the state privatization program in December, with plans to eventually hold a 51% stake in the hotels, bringing the transaction\u2019s value to USD 800 mn. The seven hotels include the Cairo Marriott Hotel inZamalek, Marriott Mena House, Steigenberger Hotel El Tahrir Cairo, Steigenberger Cecil Alexandria, Sofitel Legend Old Cataract Aswan, M\u00f6venpick Aswan, and Sofitel Winter Palace Luxor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Added to Icon\u2019s existing portfolio, Icon will have 5k rooms and 15 luxury assets<\/strong> nationwide.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Icon already owns some of Egypt\u2019s most well-known properties and has four more in the pipeline. <\/strong>Its existing portfolio includes two Four Seasons properties in Cairo and one each in Alexandria and Sharm El Sheikh as well as the Kempinski Nile Hotel. It has additional properties in development or design in Cairo, Luxor, and Marsa Alam.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We might have an idea about the value of the new transaction: <\/strong>TMG last month said that an \u201cinternational strategic investor\u201d would acquire a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e88b903-fd4f-448e-b331-314accc55de9\" style=\"\" rel=\"noopener\">minority stake worth USD 882.5 mn<\/a> in Icon via capital increase, giving it an indirect stake in the hotels. This will result in \u201cone of the largest foreign direct inflows into Egypt in the last several years,\u201d TMG said at the time. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s the money for? <\/strong>The proceeds from the transaction will go towards deleveraging Icon\u2019s existing debt and to pay for the acquisition of the historic hotels from the government, according to ADQ.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>EFG Hermes sole financial advisor to TMG Holding on both ADQ and Adnec\u2019s acquisition of a stake in Icon and was sole financial advisor to TMG on its acquisition of the heritage hotels from the Government of Egypt. White & Case UAE and Egypt were legal counsel to ADQ and Adnec, while Gibson Dunn, Sarie El-Din & Partners, and Shahid Law were counsel to TMG.<\/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\/adq\/\">ADQ<\/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\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/talaat-moustafa-group\/\">Talaat Moustafa Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613334\" 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=\"613334\">\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\">RED SEA WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/us-uk-launch-strikes-in-yemen-suez-canal-revenues-down-40\/\">\r\n                            US, UK launch strikes in Yemen + Suez Canal revenues down 40%                        <\/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\/14\/us-uk-launch-strikes-in-yemen-suez-canal-revenues-down-40\/\" 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\/14\/us-uk-launch-strikes-in-yemen-suez-canal-revenues-down-40\/')\">\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\/14\/us-uk-launch-strikes-in-yemen-suez-canal-revenues-down-40\/\">\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=US, UK launch strikes in Yemen + Suez Canal revenues down 40%&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/us-uk-launch-strikes-in-yemen-suez-canal-revenues-down-40\/\">\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\/14\/us-uk-launch-strikes-in-yemen-suez-canal-revenues-down-40\/&title=US, UK launch strikes in Yemen + Suez Canal revenues down 40%\">\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=US%2C+UK+launch+strikes+in+Yemen+%2B+Suez+Canal+revenues+down+40%25+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F14%2Fus-uk-launch-strikes-in-yemen-suez-canal-revenues-down-40%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\/14\/us-uk-launch-strikes-in-yemen-suez-canal-revenues-down-40\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/774.JPG?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613335\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/us-uk-launch-strikes-in-yemen-suez-canal-revenues-down-40\/774-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/774.JPG?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"774.JPG\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/774.JPG?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/774.JPG?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613334\" class=\"content-area-description single-story post-613334 post type-post status-publish format-standard has-post-thumbnail hentry category-red-sea-watch tag-enterpriseam tag-middle-east-politics tag-osama-rabie tag-red-sea tag-red-sea-watch tag-suez-canal tag-suez-canal-authority wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.3d567bca-d39b-4b5b-96a0-a655cc9a2ea7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Tensions in the Red Sea spill over into conflict:<\/strong> The US and the UK with support from Australia, Canada, the Netherland, and Bahrain carried out air strikes on Houthi facilities across Yemen on Thursday after repeated attacks by Houthi fighters on commercial vessels crossing the Red Sea in recent weeks, US Centcom said in a <a target=\"_blank\" href=\"https:\/\/twitter.com\/CENTCOM\/status\/1745647248866738322\" style=\"\" rel=\"noopener\">statement<\/a>. Air strikes continued over the weekend as the UN\u2019s special envoy for Yemen <a target=\"_blank\" href=\"https:\/\/osesgy.unmissions.org\/statement-attributable-un-special-envoy-yemen-0\" style=\"\" rel=\"noopener\">called<\/a> for the \u201cmaximum restraint\u201d from all parties while warning of the risks of a regional conflict.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Houthis have vowed retaliation:<\/strong> Retaliation will be \u201cimminent,\u201d senior Houthi leader Mohammed Ali Al Houthi told tens of thousands of people in the Yemeni capital Sanaa who had gathered to protest the bombing campaign, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-12\/us-and-uk-strike-yemen-s-houthis-in-bid-to-end-red-sea-attacks\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported. Western forces can expect a \u201cfirm, strong and effective response,\u201d another Houthi spokesperson told Al Jazeera.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt warns of regional escalation: <\/strong>The latest developments are a \u201cclear indication\u201d ofEgypt\u2019s earlier warnings of a spiraling conflict stemming from continued Israeli aggression in Gaza, a Foreign Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid02mGi1he2ftXWGJhhRmHQkDBDDYACA9F1HhdXEAPXdt2h8E5DJQnGivNCt5w56UXKLl\" style=\"\" rel=\"noopener\">statement<\/a> said. The ministry called for regional and international coordination to reduce tension in the Red Sea and instability in the region before fighting escalated even further.<\/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\">SUEZ CANAL REVENUES PLUMMET- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Suez Canal revenues since the beginning of the year are down 40% y-o-y<\/strong>, Suez CanalAuthority head Osama Rabie told Kol Youm on Thursday <a target=\"_blank\" href=\"https:\/\/youtu.be\/pqUBtYJldSQ?t=147\" style=\"\" rel=\"noopener\">(watch, runtime: 24:33<\/a>). Shipping volumes fell 30% y-o-y during the first 11 days of the year with 544 vessels passing the canal during the period compared to 777 in 2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It looks like things are going to get worse before they get better:<\/strong> Efforts to alleviate thesecurity concerns of international shipping companies \u2014 like fee reductions and other incentives \u2014 have failed, Rabie added. Traffic through the Suez Canal is expected to become even more scarce still after the US and UK militaries advised against all transit through the Red Sea, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/container-rates-soar-concerns-prolonged-red-sea-disruption-2024-01-12\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported. If the situation continues to escalate, the Suez Canal could \u201ceffectively close for all ships,\u201d Niels Rasmussen, chief shipping analyst at trade group Bimco, told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-12\/oil-tanker-owners-abandon-southern-red-sea-trips-after-yemen-airstrikes\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Container shipping rates for many key global trade routes have at least doubled<\/strong> from a month ago amid fears of further disruptions in the Red Sea, industry officials told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/container-rates-soar-concerns-prolonged-red-sea-disruption-2024-01-12\/\" style=\"\" rel=\"noopener\">Reuters<\/a> over the weekend. Moving ships away from the Red Sea and around the Cape of Good Hope adds around 10 days and USD 1 mn in fuel costs to trips between Asia and Europe. <\/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\">THE OIL MARKET REACTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Houthis \u2018mistakenly\u2019 target oil tanker: <\/strong>A missile strike launched on Friday narrowly missed aPanama-flagged tanker carrying Russian oil, marking the second time the Houthis mistakenly targeted a tanker carrying Russian oil, maritime security firm Ambrey <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/houthis-mistakenly-target-tanker-carrying-russian-oil-ambrey-report-2024-01-12\/\" style=\"\" rel=\"noopener\">said<\/a>. Oil tankers have begun rerouting away from the Red Sea, in the clearest example of disruption to the oil market. At least three firms \u2014 Torm, Hafnia, and Stena Bulk, who direct around 350 tankers between them \u2014 paused transit through the area, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-12\/oil-tanker-owners-abandon-southern-red-sea-trips-after-yemen-airstrikes\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: Oil tankers have been relatively untouched by Houthis until now<\/strong>, as theHouthis had only attacked non-petroleum vessels. Oil and fuel traffic through the Red Sea managed to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/66514948-fc7f-4c14-a7bf-edbce84eb382\" style=\"\" rel=\"noopener\">hold steady<\/a> in December. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax: <\/strong>Oil prices climbed 1% on Friday with Brent futures rising as much as 4.3%rightafter the attack, before shedding most of the gains and ending the day up 1.1%. <\/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\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/osama-rabie\/\">Osama Rabie<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/red-sea\/\">Red Sea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/red-sea-watch\/\">RED SEA WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-authority\/\">Suez Canal Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613336\" 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=\"613336\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/finance-ministry-to-announce-new-social-security-package-tax-incentives-for-investments-in-2024\/\">\r\n                            New wages, pension hikes + tax cuts for individuals and industries in the 2024 pipeline                        <\/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\/14\/finance-ministry-to-announce-new-social-security-package-tax-incentives-for-investments-in-2024\/\" 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 new package, which will include wage and pension hikes and an increased tax threshold, will be put for discussion in public consultations next month, along with the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d43a1db8-add6-4d50-9b7b-51c3a6ca8688\" style=\"\" rel=\"noopener\">proposed five-year tax policy framework<\/a>, the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee941174-2c43-4bb8-b6bc-ad51b7cde785\" style=\"\" rel=\"noopener\">amendments to the Income Tax Act<\/a>, and the state budget for FY 2024\/2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Using AI to collect dues?<\/strong> Maait said that the ministry intends to utilize AI to collect state treasury's dues. He added the move would help the government estimate the actual size of the Egyptian economy by accounting for informal businesses. He did not specify how the system would work.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Extended property tax exemptions for key sectors:<\/strong> The Finance Ministry also submitted a proposal to the cabinet to extend the property tax exemptions for industrial, poultry, and other key sectors until the end of 2026 to support these industries. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More tax incentives for investment:<\/strong> Maait said the Finance Ministry is also proceeding with the legal procedures to exempt strategic industrial projects from certain types of taxes for five years, under the proposed five-year tax policy framework. The framework promises lower fixed wage and commercial profit taxes, tax cuts for new projects, and an up-to-date tax system.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT-<\/strong>The e-invoicing system has ramped up tax revenues during the past FY by 26.9%, said Maait, noting that the increase was driven by efficiency rather than collecting more taxes from investors.<\/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\/finance-ministry\/\">Finance Ministry<\/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\/labor\/\">labor<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/social-welfare\/\">social welfare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/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=\"613338\" 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=\"613338\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/inflation-eases-for-a-third-consecutive-month-to-seven-month-low\/\">\r\n                            Egypt\u2019s annual headline inflation eased for a third consecutive month to seven-month low                        <\/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\/14\/inflation-eases-for-a-third-consecutive-month-to-seven-month-low\/\" 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\/14\/inflation-eases-for-a-third-consecutive-month-to-seven-month-low\/')\">\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\/14\/inflation-eases-for-a-third-consecutive-month-to-seven-month-low\/\">\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=Inflation eases for a third consecutive month to seven-month low&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/inflation-eases-for-a-third-consecutive-month-to-seven-month-low\/\">\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\/14\/inflation-eases-for-a-third-consecutive-month-to-seven-month-low\/&title=Inflation eases for a third consecutive month to seven-month low\">\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=Inflation+eases+for+a+third+consecutive+month+to+seven-month+low+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F14%2Finflation-eases-for-a-third-consecutive-month-to-seven-month-low%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\/14\/inflation-eases-for-a-third-consecutive-month-to-seven-month-low\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/742.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613339\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/inflation-eases-for-a-third-consecutive-month-to-seven-month-low\/742-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/742.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"742.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/742.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/742.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613338\" class=\"content-area-description single-story post-613338 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-capmas tag-central-bank-of-egypt tag-economy tag-enterpriseam tag-food tag-inflation 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\/.43e1a5de-f027-472d-b9e6-da9096bf0716.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Inflation cooled for the third consecutive month in December, <\/strong>reaching its lowestlevel in seven months as increases in food prices continued to decelerate. Figures published last week by state statistics agency Capmas showed that annual inflation in urban areas slowed 0.9 percentage points to 33.7% in December from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a23e2e09-f05f-4f4d-b2cd-867786df738c\" style=\"\" rel=\"noopener\">34.6% in November<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Monthly inflation, on the other hand, inched up<\/strong> to 1.4% in December from 1.3% a month earlier.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Core inflation dips:<\/strong> Annual core inflation \u2014 which excludes volatile items such as food and fuel \u2014 fell to 34.2% in December from 35.9% the month prior, according to <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/economic-research\/statistics\/inflation-rates\" style=\"\" rel=\"noopener\">central<\/a><a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/economic-research\/statistics\/inflation-rates\" style=\"\" rel=\"noopener\">bank<\/a><a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/economic-research\/statistics\/inflation-rates\" style=\"\" rel=\"noopener\">figures<\/a>. Meanwhile, monthly core inflation rose to 1.3% from 1% in November.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A decline in food price growth drove the trend once again: <\/strong>Food and beverage price growth \u2014 the largest component of the basket of goods and services \u2014 slowed to 60.5% y-o-y in December from 64.5% in November.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART:<\/strong>A favorable base effect is also at work because the rapid rise in inflation at the end of 2022 and first half of 2023 will help temper annual figures over the coming months (all else being equal). The key question: Whether this outweighs the inflationary impact if the EGP loses further ground against the greenback should we move to a floating FX regime now that President Abdel Fattah El-Sisi has secured a third term in office.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Just shy of analyst predictions:<\/strong> The numbers were slightly higher than the median 33.4%prediction put forward by analysts polled by <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egypt-inflation-expected-slow-december-2024-01-08\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. Inflation has been cooling from a historic <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d1c1b9b4-919d-41f5-a4f3-85357bcc52ad\" style=\"\" rel=\"noopener\">high of 38% in September<\/a>, although analysts have cautioned that inflation may pick up again in the wake of recent government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f4048193-6df2-4911-84e8-a7f6409b8263\" style=\"\" rel=\"noopener\">price hikes<\/a> and a widely anticipated currency devaluation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve got ambitious inflation targets lined up for FY 2024-2025: <\/strong>The government is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d582677-df84-4c57-8702-2e53adf7b4e9\" style=\"\" rel=\"noopener\">hoping<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d582677-df84-4c57-8702-2e53adf7b4e9\" style=\"\" rel=\"noopener\">to see<\/a> annual headline inflation fall to an average of 15% in the upcoming fiscal year, a significant drop from the 38% estimated for the current year. The central bank\u2019s average <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/monetary-policy\/inflation-target#inflationtargets\" style=\"\" rel=\"noopener\">inflation target<\/a> is 7% (\u00b12%) by 4Q 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The international press had the story:<\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-10\/egypt-inflation-ended-year-on-downswing-that-now-hinges-on-pound\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egypts-annual-urban-consumer-price-inflation-slows-dec-capmas-2024-01-10\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/business\/2024\/01\/10\/egypts-inflation-drops-for-third-consecutive-month-amid-devaluation-speculation\/\" style=\"\" rel=\"noopener\">The National<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capmas\/\">CAPMAS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613340\" 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=\"613340\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/tabreed-terminates-capitalmed-contract-over-fx-concerns\/\">\r\n                            Tabreed terminates CapitalMed contract over FX concerns                        <\/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\/14\/tabreed-terminates-capitalmed-contract-over-fx-concerns\/\" 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\/14\/tabreed-terminates-capitalmed-contract-over-fx-concerns\/')\">\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\/14\/tabreed-terminates-capitalmed-contract-over-fx-concerns\/\">\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=Tabreed terminates CapitalMed contract over FX concerns&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/tabreed-terminates-capitalmed-contract-over-fx-concerns\/\">\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\/14\/tabreed-terminates-capitalmed-contract-over-fx-concerns\/&title=Tabreed terminates CapitalMed contract over FX concerns\">\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=Tabreed+terminates+CapitalMed+contract+over+FX+concerns+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F14%2Ftabreed-terminates-capitalmed-contract-over-fx-concerns%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\/14\/tabreed-terminates-capitalmed-contract-over-fx-concerns\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/781.JPG?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613341\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/tabreed-terminates-capitalmed-contract-over-fx-concerns\/781-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/781.JPG?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"781.JPG\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/781.JPG?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/781.JPG?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613340\" class=\"content-area-description single-story post-613340 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-capitalmed tag-egyptians-for-healthcare-services tag-enterpriseam tag-foreign-exchange tag-investment-watch tag-tabreed 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\/.00b435b1-fa52-4fab-b258-22e89bfa98ee.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Tabdreed\u2019s CapitalMed plans go kaput on FX crisis: <\/strong>UAE-based district cooling firm <a target=\"_blank\" href=\"https:\/\/www.tabreed.ae\/ar\/\" style=\"\" rel=\"noopener\">Tabreed<\/a> has terminated its contract with <a target=\"_blank\" href=\"https:\/\/ehcs.com.eg\/\" style=\"\" rel=\"noopener\">Egyptians for<\/a><a target=\"_blank\" href=\"https:\/\/ehcs.com.eg\/\" style=\"\" rel=\"noopener\">Healthcare<\/a><a target=\"_blank\" href=\"https:\/\/ehcs.com.eg\/\" style=\"\" rel=\"noopener\">Services<\/a> (EHCS) for the latter\u2019s CapitalMed medical complex in Badr City as the FX crisis rendered the project \u201cfinancially unsustainable,\u201d CEO Khalid Al Marzooqi told <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/5d9ne9tn\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. While the investment costs were in USD, its return was pegged in EGP, he explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Tabreed landed an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d789871f-dd38-4574-91fb-34f995f8dd7d\" style=\"\" rel=\"noopener\">EGP 1.6 bn contract<\/a> to design, build, and operate a heatingand cooling plant for CapitalMed back in September 2022 \u2014 a few months after it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b5ad5b8c-53b3-4500-ae72-f9383cf01093\" style=\"\" rel=\"noopener\">entered the local market<\/a> with a contract to provide cooling services for Marakez\u2019s D5M shopping center in East Cairo.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How did EGP volatility impact the contract?<\/strong> Tabreed had asked EHCS to modify the watertariff rate set in the contract in response to the steeper-than-expected currency devaluation, but the latter declined the request, prompting the Emirati firm to withdraw from the project, Asharq reported, citing a source it says is in the know.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The EGP has shed almost half of its value against the greenback after a series ofdevaluations since March 2022. The central bank has kept the EGP exchange rate fixed at 30.96 to the USD since March 2023, but it currently trades on the parallel market at over 56 to the USD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Moving forward:<\/strong>While Tabreed\u2019s Chief Financial Officer Adel Al Wahedi said in July that thecompany was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1558642d-7601-4195-a551-3ad914112931\" style=\"\" rel=\"noopener\">\u201cslowing down\u201d plans<\/a> for additional investment in the country as it waits for a stable outlook on the EGP, Al Marzouqi told Asharq that Tabreed is \u201cstill committed to investing in the Egyptian market.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capitalmed\/\">CapitalMed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptians-for-healthcare-services\/\">Egyptians for Healthcare Services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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\/tabreed\/\">Tabreed<\/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=\"613342\" 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=\"613342\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/cib-adib-cut-credit-card-limits-on-fx-spending\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/800.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613343\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/cib-adib-cut-credit-card-limits-on-fx-spending\/800-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/800.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"800.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/800.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/800.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613342\" class=\"content-area-description single-story post-613342 post type-post status-publish format-standard has-post-thumbnail hentry category-uncategorized tag-abu-dhabi-islamic-bank tag-banking tag-central-bank-of-egypt tag-cib tag-enterpriseam tag-foreign-exchange wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.86ff3207-6da8-469e-8690-6ed4812147cb.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>FX <\/strong><strong>restrictions <\/strong><strong>on <\/strong><strong>credit cards<\/strong><strong> are getting tighter still:<\/strong> Commercial InternationalBank (CIB) and Abu Dhabi Islamic Bank (ADIB) have lowered credit card limits on foreign exchange transactions executed locally and abroad last week, according to announcements on their websites (<a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/712.pdf\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/706.pdf\" style=\"\" rel=\"noopener\">here<\/a>). No other local banks have imposed further restrictions on credit card FX limits so far, an industry source tells us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The limits at home:<\/strong> CIB trimmed the monthly limit on local FX transactions to the equivalent ofEGP 2k to EGP 7.75k, depending on the type of account, while ADIB cut its limit to USD 50 or equivalent across the board. Prior to the trim, most banks had a standard FX limit at home of the equivalent of EGP 7.7k.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The limits for purchases abroad:<\/strong> CIB reduced the monthly limits for purchases made while cardholders are abroad to theequivalent of EGP 15k-75k, while ADIB put them to the equivalent of USD 500-2k.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The limits for withdrawals abroad: <\/strong>CIB lowered its ceiling for monthly cash withdrawalsabroad to the equivalent of EGP 2k to 6.5k, while ADIB slashed its limit to the equivalent of USD 50-100.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Central Bank of Egypt (CBE) has given banks the verbal<\/strong><strong>go-ahead to reduce credit card FX limits<\/strong> as they see fit in order to protect their FX liquidity, a banking source told Enterprise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>The central bank has been tightening its grip on FX transactions in recent months. A <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/42e7bef5-11d5-451a-a2cf-977c0a9d98dc\" style=\"\" rel=\"noopener\">six-month bar on FX transactions<\/a> for newly issued credit cards was issued last month in addition to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e68118bf-ed08-46df-a7d6-46dc4559afec\" style=\"\" rel=\"noopener\">credit card<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3d240d47-331c-491e-8011-e5092d22dfdb\" style=\"\" rel=\"noopener\">debit card<\/a> restrictions for foreign-currency transactions that began in October of last year.<\/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\">HIGH-YIELD CDs-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New high-yield CDs reel in EGP 205 bn:<\/strong> The high-yield certificates of deposit (CDs) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ca07962e-49c3-4cb5-ab1d-89a6443c7602\" style=\"\" rel=\"noopener\">recently iss<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ca07962e-49c3-4cb5-ab1d-89a6443c7602\" style=\"\" rel=\"noopener\">ued<\/a> by the National Bank of Egypt (NBE) and Banque Misr have attracted a combined EGP 205 bn since their launch eight days ago, <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/vnmzm2t8\" style=\"\" rel=\"noopener\">Youm 7 reported<\/a>, citing NBE Chairman Hisham Okasha and Banque Misr Chairman Mohamed El Etreby. That\u2019s more than fourfold what the certificates had racked up <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7c25fc7b-640b-4e5e-a026-2b8d63211665\" style=\"\" rel=\"noopener\">four days into their release<\/a> last week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>NBE and Banque Misr scale up rates on secured loans<\/strong>: The National Bank of Egypt (NBE) and Banque Misr have reportedly increased the interest rate on loans secured by the three-year 19% CDs to 25.5%, up from 21%, following the central banks signal to all banks to increase rates on secured loans, <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=13012024&id=1d8013f7-6b80-4e72-abf0-37476dd514f4\" style=\"\" rel=\"noopener\">Al Shorouk<\/a> reports, citing sources it says have knowledge of the matter.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-dhabi-islamic-bank\/\">Abu Dhabi Islamic Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613344 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=\"613344\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/613344\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613344\" class=\"content-area-description single-story post-613344 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=\"613345\" 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=\"613345\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/egypts-response-to-israeli-allegations-it-closed-the-rafah-crossing-dominated-the-airwaves\/\">\r\n                            Egypt\u2019s response to Israeli allegations it closed the Rafah crossing dominated the airwaves                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/791.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"791.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/791.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/791.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613345\" class=\"content-area-description single-story post-613345 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-enterpriseam tag-imf tag-last-nights-talk-shows tag-madbouly-cabinet tag-middle-east-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.56dcabd7-36ab-4606-9cf5-f5711ef56b74.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Last night on the airwaves: <\/strong>Egypt\u2019s response to allegations put forward by Israel\u2019s legal defense team before the International Court of Justice (ICJ) that Egypt blocked humanitarian aid crossing the Rafah border dominated the airwaves last night. Our nation\u2019s talking heads also found time to dive deep into talks with the IMF and a potential ministerial reshuffle coming up.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt debunks Israel\u2019s accusation before the ICJ: <\/strong>The Egyptian authorities will send representatives to the ICJ to object to false Israeli allegations and instead assert that the Rafah border crossing remains open, State Information Service head Diaa Rashwan told Amr Adib (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=XwgiQQRV44o&ab_channel=%D8%A7%D9%84%D8%AD%D9%83%D8%A7%D9%8A%D8%A9\" style=\"\" rel=\"noopener\">watch, runtime: 7:55<\/a>). The story was also covered on Masa DMC (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=918915729954037\" style=\"\" rel=\"noopener\">watch, runtime: 2:37<\/a>) and Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=367702479241240\" style=\"\" rel=\"noopener\">watch, runtime: 9:48<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The gov\u2019t is playing hardball with the IMF:<\/strong> Mostafa Bakri said on his show that President Abdel Fattah El Sisi gave directions to reject any further conditions that may be imposed by the International Monetary Fund because they could increase the burdens on the citizens. These presidential directives include a pause on currency devaluation and tasking the government with providing USD 3 bn for the central bank to eliminate the black market (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=W0J47-pFyhU&ab_channel=SadaElbalad-%D8%B5%D8%AF%D9%89%D8%A7%D9%84%D8%A8%D9%84%D8%AF\" style=\"\" rel=\"noopener\">watch, runtime: 5:42<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A cabinet reshuffle in the works? <\/strong>Bakri told his viewers that there will be an emergency cabinet reshuffle that will see 13-15 ministers changing posts to remove ministers who failed to carry out their responsibilities over the previous period. The new ministers will be tasked with restructuring the leading roles in their ministries to better serve the presidential reform program (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=W0J47-pFyhU&ab_channel=SadaElbalad-%D8%B5%D8%AF%D9%89%D8%A7%D9%84%D8%A8%D9%84%D8%AF\" style=\"\" rel=\"noopener\">watch, runtime: 5:42<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt kicked off JP Morgan\u2019s Government Bond Index-EMs: <\/strong>Falling off the index for any country makes it harder to attract FDI, finance professor Hassan El Sady said on Al Hekayah (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=OBOhgFlllkU&ab_channel=%D8%A7%D9%84%D8%AD%D9%83%D8%A7%D9%8A%D8%A9\" style=\"\" rel=\"noopener\">watch, runtime: 19:05<\/a>). To list debt securities on international exchanges, Egypt could now either hike rates tremendously or grant investors a bigger 15-20% reduction on the nominal value of the bonds, El Sady suggested.<\/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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n              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proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" 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              <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-94gpaq5\" data-v=\"4\" data-block-id=\"94gpaq5\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-94gpaq5-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-94gpaq5-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" 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role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613348\" 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=\"613348\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/egypt-is-getting-a-green-data-center-plus-safaga-logistics-area-palm-hills-sales-world-bank-visit-adib-giza-systems-gold-exploration-tender-extended\/\">\r\n                            Egypt is getting a green data center. Plus: Safaga logistics area, Palm Hills sales, World Bank visit, Adib + Giza Systems, gold exploration tender extended                        <\/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\/14\/egypt-is-getting-a-green-data-center-plus-safaga-logistics-area-palm-hills-sales-world-bank-visit-adib-giza-systems-gold-exploration-tender-extended\/\" 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\/14\/egypt-is-getting-a-green-data-center-plus-safaga-logistics-area-palm-hills-sales-world-bank-visit-adib-giza-systems-gold-exploration-tender-extended\/')\">\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\/14\/egypt-is-getting-a-green-data-center-plus-safaga-logistics-area-palm-hills-sales-world-bank-visit-adib-giza-systems-gold-exploration-tender-extended\/\">\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 is getting a green data center. Plus: Safaga logistics area, Palm Hills sales, World Bank visit, Adib + Giza Systems, gold exploration tender extended&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/egypt-is-getting-a-green-data-center-plus-safaga-logistics-area-palm-hills-sales-world-bank-visit-adib-giza-systems-gold-exploration-tender-extended\/\">\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\/14\/egypt-is-getting-a-green-data-center-plus-safaga-logistics-area-palm-hills-sales-world-bank-visit-adib-giza-systems-gold-exploration-tender-extended\/&title=Egypt is getting a green data center. Plus: Safaga logistics area, Palm Hills sales, World Bank visit, Adib + Giza Systems, gold exploration tender extended\">\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+is+getting+a+green+data+center.+Plus%3A+Safaga+logistics+area%2C+Palm+Hills+sales%2C+World+Bank+visit%2C+Adib+%2B+Giza+Systems%2C+gold+exploration+tender+extended+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F14%2Fegypt-is-getting-a-green-data-center-plus-safaga-logistics-area-palm-hills-sales-world-bank-visit-adib-giza-systems-gold-exploration-tender-extended%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\/14\/egypt-is-getting-a-green-data-center-plus-safaga-logistics-area-palm-hills-sales-world-bank-visit-adib-giza-systems-gold-exploration-tender-extended\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/785.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613349\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/egypt-is-getting-a-green-data-center-plus-safaga-logistics-area-palm-hills-sales-world-bank-visit-adib-giza-systems-gold-exploration-tender-extended\/785-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/785.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"785.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/785.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/785.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613348\" class=\"content-area-description single-story post-613348 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-construction tag-data-centers tag-development-finance tag-enterpriseam tag-gold tag-infrastructure tag-palm-hills-developments tag-real-estate tag-renewables 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\/.f39a18f5-51c2-444f-8ac8-eb56290361cd.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INFRASTRUCTURE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong><strong>Green data center incoming: <\/strong>A consortium including <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/swicorp-infra-capital\/\" style=\"\" rel=\"noopener\">Swicorp Infra Capital<\/a> (SIC), <a target=\"_blank\" href=\"http:\/\/www.incomeegypt.com\/\" style=\"\" rel=\"noopener\">Income Egypt<\/a>, and <a target=\"_blank\" href=\"https:\/\/recordfg.com\" style=\"\" rel=\"noopener\">Record Digital Asset Venture<\/a> will build, own, and operate a green data center in Egypt, under an MoU inked with the Communications Ministry, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.cabinet.gov.eg\/News\/Details\/74810\" style=\"\" rel=\"noopener\">statement<\/a>. The data center will be powered by some 200 MWs of solar and wind energy and will export digital services to customers abroad.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Safaga could get a USD 50 mn logistics area:<\/strong> The government plans to build a USD 50 mn logistics area behind the Safaga sea port to load and unload goods aboard the high-speed electric rail linking the Red Sea to the Mediterranea, <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/3k2tuphj\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reported, citing two government sources. The land plot for the project will be funded by the government, the sources said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>A consortium including Siemens Mobility, Orascom Construction, and ArabContractors is set to build the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/13c77944-a194-421e-b52d-c3ab09523df6\" style=\"\" rel=\"noopener\">first line<\/a> of the 1.8k-km national high-speed rail project that will link Ain Sokhna, Alexandria and Marsa Matrouh.<\/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\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Palm Hills had a good 2023:<\/strong> Our friends at real estate developer Palm Hills Developments (PHD) have sold EGP 59.5 bn worth of property units over FY 2023, up 129% y-o-y, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/769.pdf\" style=\"\" rel=\"noopener\">bourse disclosure (pdf)<\/a>. PHD plans to invest EGP 15 bn in Egypt in 2024.<\/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>World Bank delegation wraps up visit:<\/strong> A World Bank delegation arrived in Egypt last Tuesday for a multi-day visit in which it met with a number of government officials for discussions centered around the state ownership policy, the International Cooperation Ministry said in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid025MLvrstoXQQzwbvSzNop4P6DgU7LPzwKNfZRQooW9Wbnn8kLSaQFbUqP4z6BZW1wl\" style=\"\" rel=\"noopener\">statement<\/a>. The delegation, alongside Egyptian officials, also discussed potential financing tools and programs that the bank could provide Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DEBT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADIB is cooking up an EGP 5.8 bn facility for Giza Systems: <\/strong>Abu Dhabi Islamic Bank (ADIB) is putting together EGP 5.8 bn worth of Sharia-compliant financing for local tech consultancy firm <a target=\"_blank\" href=\"https:\/\/gizasystems.com\/\" style=\"\" rel=\"noopener\">Giza Systems<\/a> to help it repay outstanding loans and pivot towards a Sharia-compliant capital structure, <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/mpm5vpfv\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing unnamed banking sources. <\/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\">MINING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shalateen\u2019s gold exploration tender gets a third deadline <\/strong><strong>extension:<\/strong> State-owned Shalateen Mining Company has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b11119e8-248f-4cc3-a002-0e8dedfa36fe\" style=\"\" rel=\"noopener\">once again<\/a> extended the deadline of its international <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cf657661-8a77-4cbc-835e-e1cc26ef5a58\" style=\"\" rel=\"noopener\">gold exploration tender<\/a> to 8 February to give companies more time to purchase the tender booklet and inspect auctioned sites, <a target=\"_blank\" href=\"https:\/\/www.almasryalyoum.com\/news\/details\/3074412\" style=\"\" rel=\"noopener\">Al Masry Al Youm<\/a> reports.<\/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\">DEVELOPMENT FINANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Intl\u2019 Cooperation Ministry greenlights USD 19 mn grants <\/strong>from the Swiss government totalling USD 19 mn, to finance the second phase of the potable water management program in Upper Egypt and a sludge treatment project in Beni Suef, according to a <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/bdep3br9\" style=\"\" rel=\"noopener\">ministry readout<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/data-centers\/\">Data Centers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gold\/\">gold<\/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\/palm-hills-developments\/\">Palm Hills Developments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"613350\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">         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size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613351\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/btc-to-hit-usd-100k-on-etfs-launch\/787-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/787.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"787.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/787.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/787.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613350\" class=\"content-area-description single-story post-613350 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.627b64a3-ce79-4a66-95be-108b45c18de2.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Cryptobros dream big: <\/strong>Cryptocurrency investors see BTC surpassing the USD 100k a piece mark in 2024 \u2014 up from USD 42.6k currently \u2014 following the US Securities and Exchange Commission\u2019s approval of spot BTC exchange-traded funds (ETFs), according to <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/01\/12\/crypto-bulls-see-bitcoin-flying-to-100000-with-etf-approval.html\" style=\"\" rel=\"noopener\">CNBC<\/a>. ETFs that allow investors to hold and trade cryptos on stock exchanges are expected to attract more investor appetite and boost its use as a mainstream currency as more Wall Street big shots like BlackRock, Invesco, and Fidelity pile into the new offering.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax:<\/strong> BTC briefly hit USD 49k this week on dozens of ETF launches before tumbling down to around the USD 42k mark later in the week. The decline was partially driven by \u201ca lot of selling\u201d of Grayscale BTC Trust shares, SkyBridge Capital founder Anthony Scaramucci, adding that BTC holders \u201cwere selling to book losses and shifting to lower fee alternatives,\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-12\/bitcoin-extends-decline-with-etf-exuberance-beginning-to-fade?srnd=cryptocurrencies-v2\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH NOTING- <\/strong><\/p><ul>\n<li><strong>Shein takes steps towards IPO<\/strong><strong>: <\/strong>Chinese-founded fast fashion giant Shein isseeking Beijing\u2019s permission regarding its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cdd118e7-1144-4b6a-b4bc-1004ebd0e9e0\" style=\"\" rel=\"noopener\">planned US IPO<\/a> \u2014 which has received pushback from US lawmakers \u2014 in line with Beijing\u2019s new listing rules. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/retail-consumer\/shein-files-with-chinese-regulator-planned-us-float-sources-2024-01-12\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<\/ul><p><a target=\"_blank\" id=\"t.0deb9ebd0d017b1e107a70d664ba41dd6ca01ca6\" 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\">25,519<\/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: +2.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.83<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.96<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.85<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.95<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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\">12,116<\/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: +1.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,791<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: +2.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,104<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +1.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,784<\/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: +0.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">7,625<\/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: -1.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,480<\/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\">+0.9% (YTD: -0.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 78.29<\/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\">+1.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 3.31<\/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-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>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 2,049.06<\/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%<\/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 42,964.15<\/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\">-1.1% (YTD: +1.5%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 0.2% at Thursday\u2019s close<\/strong> on turnover of EGP 3.8 bn (11.3% above the 90-day average). Regional investors were net sellers. The index is up 2.5% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>B Investments (+3.8%), Oriental Weavers (+3.0%), and Abu Qir Fertilizers (+2.3%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Beltone Holding (-2.5%), Madinet Masr (-1.9%), and EFG Holding (-1.7%).<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613352\" 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=\"613352\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/egypt-slams-israeli-allegations-that-it-prevented-aid-entering-gaza\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/786.JPG?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613353\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/egypt-slams-israeli-allegations-that-it-prevented-aid-entering-gaza\/786-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/786.JPG?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"786.JPG\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/786.JPG?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/786.JPG?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613352\" class=\"content-area-description single-story post-613352 post type-post status-publish format-standard has-post-thumbnail hentry category-uncategorized tag-diplomacy tag-enterpriseam tag-middle-east-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.e9366125-f345-4757-8b00-18de58e99bd9.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt says claims it is preventing the entry of aid into<\/strong><strong> Gaza are Israeli <\/strong><strong>\u201callegations and lies\u201d:<\/strong>Egypt has \u201ccategorically denied\u201d allegations made by Israel during the latter\u2019s defense against charges of genocide at the International Court of Justice (ICJ) that the Egypt prevented humanitarian aid flows into Gaza through the Rafah border crossing, State Information Service (SIS) head Diaa Rashwan <a target=\"_blank\" href=\"https:\/\/sis.gov.eg\/Story\/191089\/Egypt-denies-Israeli-allegations-in-International-Court-of-Justice?lang=en-us\" style=\"\" rel=\"noopener\">said<\/a> in a statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The ICJ began hearing South Africa\u2019s case against Israel on Thursday. In the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/709.pdf\" style=\"\" rel=\"noopener\">84-page<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/709.pdf\" style=\"\" rel=\"noopener\">filing (pdf)<\/a>, South Africa accuses the Israeli government and military of \u201ckilling Palestinians in Gaza, causing them serious bodily and mental harm, and inflicting on them conditions of life calculated to bring about their physical destruction\u201d. The case described the Israeli acts as \u201cgenocidal in character because they are intended to bring about the destruction of a substantial part of the Palestinian national, racial and ethnic group.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Sisi <\/strong><strong>+<\/strong><strong> Blinken:<\/strong> US Secretary of State Antony Blinken ended his tour of the region in Cairo by meeting with President Abdel Fattah El Sisi met with on Thursday to discuss the situation in Gaza, according to statements from <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid0LiHHFTvNbQhBiiswteZFXDiDknbFL9qfMGKURabpbmtAVCHUTxE6g6UVYEucK2J3l\" style=\"\" rel=\"noopener\">Ittihadiya<\/a> and the <a target=\"_blank\" href=\"https:\/\/eg.usembassy.gov\/secretary-blinkens-meeting-with-egyptian-president-el-sisi-4\/\" style=\"\" rel=\"noopener\">US Embassy<\/a>. The two discussed efforts to de-escalate the conflict, ensure the passage of humanitarian aid, and their shared commitment that Palestinans from Gaza are not forcibly displaced.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Israel will not end its war in Gaza unless the 14 km buffer zone along Egypt\u2019s<\/strong><strong>borders is completely sealed<\/strong>, the <a target=\"_blank\" href=\"https:\/\/www.jpost.com\/israel-hamas-war\/article-782072\" style=\"\" rel=\"noopener\">Jerusalem Post<\/a> reports Israeli PM Benjamin Netanyahu as having 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\/diplomacy\/\">DIPLOMACY<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613354\" 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\/14\/613354\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613354\" class=\"content-area-description single-story post-613354 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>8 February (Thursday): Deadline to apply to Shalateen Mining Company\u2019s international gold exploration tender.<\/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>29 March (Friday): Egypt removed from JPMorgan Chase\u2019s Emerging Local Markets Index Plus.<\/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 style=\"font-weight:400;\">, 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 style=\"font-weight:400;\">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>ADQ acquires TMG subsidiary stake | New social security package incoming | Inflation eases | Credit card FX limits | BTC to infinity and beyond?<\/p>\n","protected":false},"featured_media":613326,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-613325","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"7b325a1a-c0b2-4d49-9999-35993f60b207","teaser":"ADQ acquires TMG subsidiary stake | New social security package incoming | Inflation eases | Credit card FX limits | BTC to infinity and beyond?","photo_url":"https:\/\/ent.news\/2024\/1\/792.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>IMF says loan program success dependent on additional funding - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" 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