{"id":613488,"date":"2024-01-16T00:00:00","date_gmt":"2024-01-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=613488"},"modified":"2025-12-17T03:14:30","modified_gmt":"2025-12-17T03:14:30","slug":"new-jv-plans-usd-100-mn-investment-to-localize-automobile-production","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/new-jv-plans-usd-100-mn-investment-to-localize-automobile-production\/","title":{"rendered":"New JV plans USD 100 mn investment to localize automobile production"},"content":{"rendered":"<section id=\"613490\" 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=\"613490\">\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\/16\/its-day-two-of-davos\/\">\r\n                            It\u2019s day two of Davos                        <\/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\/16\/its-day-two-of-davos\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-image-title=\"1061.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1061.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1061.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613490\" class=\"content-area-description single-story post-613490 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-davos tag-enterpriseam 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\/.2869101d-93f8-4caa-87d1-ce947bcecb97.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning to you all this fine morning. <\/strong>Today, all eyes are on a small Swiss town whose name has become synonymous with everything finance, business, and a fair few conspiracies for good measure \u2014 Davos. So you don\u2019t have to, we\u2019ve trawled through the agenda today to give you a rundown of what not to miss, which you can find below.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking a bit closer to home<\/strong>, we\u2019ve got news of a newly created JV pledging to invest USD 100 mn into localizing our auto industry, Ezdehar acquisition of a minority stake in local healthtech startup Yodawy, and much, much more from Om El Donia.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI, there is now an EnterpriseAM for the UAE: <\/strong>Think of it as the UAE analogue to your morning read in Egypt \u2014 your essential report on business, finance, the economy, and regulation in one of the world\u2019s most vibrant and exciting economies. You can sign up to have the newsletter delivered fresh to your inbox <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/user\/NewsLetters\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM UAE is produced in the United Arab Emirates<\/strong> and in Egypt by the same teamthat brings you EnterpriseAM and EnterprisePM in Egypt as well as our MENA industry reports, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\" style=\"\" rel=\"noopener\">Enterprise Climate<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\" rel=\"noopener\">Enterprise Logistics<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Stay tuned for the launch later this month of EnterpriseAM KSA. <\/strong><a target=\"_blank\" href=\"https:\/\/ksaform.enterprise.news\/\" style=\"\" rel=\"noopener\">You can tap or click<\/a><a target=\"_blank\" href=\"https:\/\/ksaform.enterprise.news\/\" style=\"\" rel=\"noopener\">here<\/a> if you\u2019d like to be added to our list for launch day.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Having issues clicking links on our website? <\/strong>Or maybe it doesn\u2019t open for you? It\u2019s a caching issue some readers have run into following the launch of the latest build. Hit Ctrl-F5 on a Windows PC or Cmd-Shift-R on a Mac \u2014 do that a couple of times and you should be good. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a><\/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=\"wwtt2\"><\/a> <strong>Day 2 of Davos is shaping up to be all about the region: <\/strong>World leaders, heads of global banks, the world\u2019s brightest economists, Gulf bn\u2019aires, and Wall Street giants have all descended upon Switzerland for the first proper day of meetings for the World Economic Forum (WEF) 2024. Upcoming speeches by Ukrainian President Zelensky and EU Commission President Ursula von der Leyen are grabbing the attention of the global press, but there\u2019s some important speeches by regional heavyweights we think you should also be paying attention to. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s a lot to look out for this morning: <\/strong>We\u2019re expecting to hear today who will be representing us from Egypt, but plenty of other public and private players from the region are taking to the stage today. Starting off bright and early is the UAE\u2019s AI Minister Omar Al Olama who will speak at a session on <a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2024\/sessions\/industry-applications-of-generative-ai\" style=\"\" rel=\"noopener\">generative AI<\/a> at 9:15am CLT. A bit later on, Qatari PM Mohamed bin Adu Jassem Al Thani will sit down with President of the World Economic Forum B\u00f8rge Brende to talk about <a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2024\/sessions\/a-conversation-with-sheikh-mohammed-bin-abdulrahman-al-thani-prime-minister-of-qatar\" style=\"\" rel=\"noopener\">security and cooperation<\/a> at 10:45am CLT.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And even more in the afternoon: <\/strong>Later on in the day, Saudi Foreign Affairs Minister Prince Faisal bin Farhan will take to the stage in a session entitled <a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2024\/sessions\/securing-an-insecure-world\" style=\"\" rel=\"noopener\">Securing and Insecure World<\/a> at 2:00pm CLT, followed shortly by the country\u2019s finance minister, Mohammed Al Jaadan, who will offer his thoughts on how to <a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2024\/sessions\/regulating-non-banks\" style=\"\" rel=\"noopener\">regulate non-banks<\/a> at 4:00pm CLT.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The headline event for those in the region to look out for: <\/strong>Bahraini Finance Minister Salman bin Khalifa Al Khalifa, Saudi Investment Minister Khalid Al Falih and Qatari Finance Minister Ali Al Kuwari will take to the stage alongside private sector players including Agility chairperson Hendai Al Saleh, CEO of the region\u2019s largest privately owned oil gas company Crescent Petroleum CEO Majid Jafar, and others to speak at a session entitled <a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2024\/sessions\/sustaining-private-sector-growth-in-the-gulf\/\" style=\"\" rel=\"noopener\">Gulf Economies: All In<\/a> at 4:00pm CLT.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That\u2019s not all, folks: <\/strong>Later on in the evening, Jordanian Prime Minister Bisher Khasawneh will also take the microphone to speak on <a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2024\/sessions\/a-conversation-with-bisher-hani-al-khasawneh-prime-minister-of-the-hashemite-kingdom-of-jordan\" style=\"\" rel=\"noopener\">achieving security and cooperation in difficult times<\/a> at 6:30pm CLT. While at the same time, Saudi Communications Minister Abdullah Al Swaha will take to the stage to ask whether <a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2024\/sessions\/ai-the-great-equaliser\/\" style=\"\" rel=\"noopener\">AI is the great equalizer<\/a> it was promised to be. Saudi Commerce Minister Majid Al Kasabi will also jumping on the stage at 6:30pm CLT to discuss <a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2024\/sessions\/frictionless-services\" style=\"\" rel=\"noopener\">regulations in the service sector<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** You can watch the live session <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2024\/\" style=\"\" rel=\"noopener\">here<\/a><\/strong><strong> and check out the full program <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2024\/programme\/\" style=\"\" rel=\"noopener\">here<\/a><\/strong><strong>.<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH NOTING FROM DAVOS- No-show for Turkey: <\/strong>Turkish officials will be skipping the WEF conference following orders from President Recep Erdogan to protest the forum over the organizers\u2019 position on Israel\u2019s war on Gaza, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-15\/davos-2024-turkey-skips-davos-over-world-economic-forum-stance-on-hamas-war\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. The WEF hit back at the accusations by stating that they will be \u201cproviding a platform for key stakeholders from the region and beyond to share views on how to deescalate and find ways back to diplomacy,\u201d in addition to hosting \u201cover 50 leaders from the Arab world, including a Palestinian high-level representative.\u201d<\/p><p class=\"tag-border-left\">IN THE HOUSE TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>El Moselhi is in the hot seat:<\/strong> MPs have a whopping 98 questions for Supply Minister Ali El Moselhi about the ministry\u2019s strategy for clamping down on the hoarding of commodities and price gouging amid the state\u2019s efforts to calm soaring prices. MPs will also pose questions on the Supply Ministry\u2019s plan to preserve the country\u2019s strategic reserves of basic commodities.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND-<\/strong>The <strong>Industrial Committee<\/strong> is getting together today to discuss the struggling financials of the state-owned <a target=\"_blank\" href=\"https:\/\/egyptiancopperworks.com\/\" style=\"\" rel=\"noopener\">Egyptian Copper Works<\/a>. Efforts to protect our aviation sector from cyber attacks will be reviewed by the <strong>Telecom Committee<\/strong> and the <strong>Budget Committee <\/strong>will meet to discuss the Tourism Ministry\u2019s balance sheet for the 2022-23 fiscal year.<\/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\"> <strong>#1- Gov\u2019t plans to double the capacity of Cairo International Airport:<\/strong> The new terminal that the government plans to add to the Cairo International Airport will accommodate an additional 30 mn passengers per year, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02VXPGBCTfcUFn6pUNUwQ96KuLgUF2uSYtJRHzRgUGobK6QtstD2FB9RuapVEgBroMl?locale=ar_AR\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. The airport last year hosted 26 mn passengers and received 198k flights, according Aviation Ministry data cited by <a target=\"_blank\" href=\"https:\/\/english.ahram.org.eg\/News\/514954.aspx\" style=\"\" rel=\"noopener\">Ahram Online<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong>Cairo International Airport Company in August <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a423c134-0e3b-40af-9bc1-7ab40b8dd0d4\" style=\"\" rel=\"noopener\">signed MoUs<\/a> with infrastructure consulting firm Aecom and tech security company Pangiam to work on the construction of a fourth terminal and upgrading the airport\u2019s digital systems, as well as a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/734d8a40-98d1-4cac-854c-a77dc5c51ab7\" style=\"\" rel=\"noopener\">consultancy agreement<\/a> with Singapore\u2019s Changi Airport to upgrade the airport.<\/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\"><a id=\"wwtt5\"><\/a> <strong>#2- eSIMs could land in Egypt by end of March: <\/strong>Local mobile operators are planning to launch eSIMs in 1Q 2024, with pre-launch trials currently underway, Asharq Business reported on <a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1744396048640901404?s=20\" style=\"\" rel=\"noopener\">X<\/a>, citing unnamed sources. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>eSIMs? <\/strong>Unlike their physical older brother we\u2019ve been putting in our phones over the years, eSIMs are a digital version of a SIM card that can be put in your phone by scanning a QR code or putting in a code. The newest Apple, Samsung, and Google phones are already eSIM-compatible and many believe it is only a matter of time before physical SIM cards are tossed into the dustbin of history.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n  <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>\n <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Republicans in Iowa have decided they\u2019d like to see Donald Trump again seek the <\/strong><strong>presidency <\/strong>under their banner.Caucus-goers are braving bone-chilling cold to meet in the first major contest of the 2024 election cycle.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Former US President Donald Trump has taken the caucuses<\/strong>, as expected. Both the <a target=\"_blank\" href=\"https:\/\/apnews.com\/live\/iowa-republican-caucuses-live-updates\" style=\"\" rel=\"noopener\">Associated Press<\/a> and <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/01\/15\/politics\/trump-republican-iowa-caucuses\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> are projecting Trump will carry the state, meaning the fight is now down to whether former diplomat Nikki Haley or Florida Governor Ron Desantis will place second. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When will we know more? <\/strong>It depends, but near-final results should be in just after you open this email. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where are the Democrats? <\/strong>They won\u2019t be caucusing tonight after the party stripped Iowa of the right to run a caucus after counting issues in 2020. New Hampshire is running an unsanctioned primary next week and the first \u201cformal\u201d Democratic primary is South Carolina on 2 February.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where can I get results? <\/strong>Check out live blogs from the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2024\/01\/15\/us\/iowa-caucus-election-news\" style=\"\" rel=\"noopener\">New York Times<\/a> and <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/iowa-caucus-republican-primary-2024\" style=\"\" rel=\"noopener\">Wall Street<\/a><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/iowa-caucus-republican-primary-2024\" style=\"\" rel=\"noopener\">Journal<\/a> or the live results counter from <a target=\"_blank\" href=\"https:\/\/www.politico.com\/2024-election\/results\/\" style=\"\" rel=\"noopener\">Politico<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MUST READ: <\/strong><a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/magazine\/2024\/01\/15\/iowa-key-places-to-watch-tonight-00135405\" style=\"\" rel=\"noopener\">Who\u2019s moving on from Iowa and who\u2019s dead in the water?<\/a> A viewer\u2019s guide to reading the returns in Politico.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OH, AND\u2026 The Emmys are running as we speak<\/strong>, four months late thanks to the Hollywood writers\u2019 and actors\u2019 strikes. <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2024\/01\/15\/arts\/emmy-awards\" style=\"\" rel=\"noopener\">Liveblog here<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ON THE BUSINESS FRONT- No single story dominates <\/strong>as everyone looks to either Davos or Iowa. But near the top of the list: Instability in our corner of the world, as the world\u2019s second-biggest LNG exporter <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/lng-tankers-held-up-over-weekend-following-us-uk-strikes-houthis-data-2024-01-15\/\" style=\"\" rel=\"noopener\">skips the Suez Canal<\/a>, the <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-15\/us-advises-bab-el-mandeb-still-too-risky-for-ships-trade-group?srnd=premium-middle-east&amp;sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Houthis struck a US-flagged merchant vessel<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/irans-revolutionary-guards-say-they-have-attacked-espionage-centers-iraqs-erbil-2024-01-15\/\" style=\"\" rel=\"noopener\">Iran\u2019s Revolutionary Guards attacked<\/a> what they said are Israeli \u201cespionage centers\u201d in Iraq.<\/p><p class=\"tag-border-left\">MORNING MUST READ- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The world\u2019s five <\/strong><strong>richest <\/strong><strong>men have more than doubled their wealth since 2020 <\/strong>to USD 869 bn in November 2023, up from USD 405 bn in March 2020, according to a <a target=\"_blank\" href=\"https:\/\/www.oxfam.org.uk\/media\/press-releases\/wealth-of-five-richest-men-doubles-since-2020-as-wealth-of-five-billion-people-falls\/\" style=\"\" rel=\"noopener\">report<\/a> by Oxfam. On the list are Tesla boss Elon Musk, LVMH CEO Bernard Arnault, Amazon founder Jeff Bezos, Oracle founder Larry Ellison, and investor Warren Buffett. The report also found that the richest 1% hold 43% of all global financial assets. Here in the Middle East, 1% of the population owns some 48% of all financial wealth. <\/p><p class=\"tag-border-left\">DATA POINT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a>  <strong>Economic growth slowed to 2.65% y-o-y in 1Q FY 2023-2024<\/strong>, according to new <a target=\"_blank\" href=\"https:\/\/mped.gov.eg\/GrossDomestic\" style=\"\" rel=\"noopener\">data<\/a><a target=\"_blank\" href=\"https:\/\/mped.gov.eg\/GrossDomestic\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/mped.gov.eg\/GrossDomestic\" style=\"\" rel=\"noopener\">by the<\/a><a target=\"_blank\" href=\"https:\/\/mped.gov.eg\/GrossDomestic\" style=\"\" rel=\"noopener\">Planning Ministry<\/a>. That\u2019s down from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d75bfe34-54bc-4992-948a-f9c59284b879\" style=\"\" rel=\"noopener\">4.4% y-o-y<\/a> in the first quarter of FY 2022-2023 and 2.9% y-o-y in the final quarter.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT- Growth is expected to inch up:<\/strong> The Madbouly government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d582677-df84-4c57-8702-2e53adf7b4e9\" style=\"\" rel=\"noopener\">sees<\/a> the economy growing at a 3.0% clip in the current fiscal year, and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/18f5a345-3af0-4908-af1b-d9a8a46852a1\" style=\"\" rel=\"noopener\">IMF<\/a>, the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cbee3c58-b57c-4307-b4ea-3a5b987a7545\" style=\"\" rel=\"noopener\">World Bank<\/a> \u2014 and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c9d2065-c5ad-456f-adb1-867053c60a70\" style=\"\" rel=\"noopener\">S&amp;P Global<\/a> have penciled in more optimistic growth rates ranging between 3.5-3.7%.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/162.png?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue:<\/strong>We take a look at the government\u2019s efforts to make Egypt\u2019s petrochemicalsindustry greener. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/davos\/\">Davos<\/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=\"613492 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=\"613492\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/16\/613492\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613492\" class=\"content-area-description single-story post-613492 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>\n<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=\"613493\" 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=\"613493\">\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\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/16\/jv-plans-usd-100-mn-investment-to-localize-the-production-of-geely-cars\/\">\r\n                            JV plans USD 100 mn investment to localize the production of Geely cars in Egypt                        <\/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\/16\/jv-plans-usd-100-mn-investment-to-localize-the-production-of-geely-cars\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" 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size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613494\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/16\/jv-plans-usd-100-mn-investment-to-localize-the-production-of-geely-cars\/1031-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1031.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1031.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1031.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1031.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613493\" class=\"content-area-description single-story post-613493 post type-post status-publish format-standard has-post-thumbnail hentry category-automotive tag-ali-alghanim-sons-automotive tag-auto-mobility tag-automotive tag-enterpriseam tag-geely tag-global-auto-group tag-manufacturing tag-mohamed-yousuf-naghi-group tag-organi-group wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.57d51ba3-d6a1-4f4a-b2a9-23a9849a0ae7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Made in <\/strong><strong>China<\/strong><strong> Egypt:<\/strong> Kuwait\u2019s <a target=\"_blank\" href=\"https:\/\/alialghanimsons.com.kw\/eng\/\" style=\"\" rel=\"noopener\">Ali Alghanim & Sons Automotive<\/a>, Saudi\u2019s <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/mynaghigroup\" style=\"\" rel=\"noopener\">Mohamed<\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/mynaghigroup\" style=\"\" rel=\"noopener\">Yousuf Naghi Group<\/a>, and Egypt\u2019s <a target=\"_blank\" href=\"https:\/\/organi-group.com\/\" style=\"\" rel=\"noopener\">Organi Group<\/a> have launched a joint venture dubbed Auto Mobility that will invest USD 100 mn into localizing the production of cars from Chinese automobile giant Geely, <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/yc3pb425\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The plan:<\/strong> Auto Mobility will localize the assembly of Geely cars in Egypt,developing points of sales, and exporting to African and Middle Eastern markets, said the company\u2019s chairman Fahd Ali Al Ghanim. The company plans to start rolling out a limited number of vehicles by 4Q 2024, Al Ghanim added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The trio behind Auto Mobility \u2014 along with local firm Al Safi Group \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/feba3115-5fdb-4cdf-bf31-aa0284dd48b0\" style=\"\" rel=\"noopener\">teamed up<\/a> in late2022 to establish <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/global-auto-egypt\" style=\"\" rel=\"noopener\">Global Auto Group<\/a> (GAG), the local agent of BMW and Mini. GAG signed a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/83f133a8-68d0-488b-8938-11bffafef0e6\" style=\"\" rel=\"noopener\">binding framework agreement<\/a> in November with the Madbouly government to assemble cars locally, but no further details about the car brand or the location, size, and cost of the project were provided at the time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EVs in the cards?<\/strong> Auto Mobility will start with conventional vehicles, but it will study producing electric cars at a later stage, Al Ghanim told the outlet.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- We\u2019re getting serious about our local auto industry:<\/strong> As part of the recently relaunched <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a06d4ec-4025-490e-8842-45c8a9fe0d8a\" style=\"\" rel=\"noopener\">Egyptian Automotive Industry Development Program (AIDP)<\/a> to localize the automotive industry and its feeder industries, the Madbouly government is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/601334bb-70b3-47ce-b5cb-765875e6f635\" style=\"\" rel=\"noopener\">exploring<\/a> the creation of a new auto industrial zone. Recent government incentives for the industry and efforts to drum up investment have led to foreign companies <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3d2bc93-220d-4c86-b056-063bdc56d944\" style=\"\" rel=\"noopener\">eyeing up<\/a> new auto plants, local companies planning to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f46bde1c-c224-4074-b40a-c29e1224ea8a\" style=\"\" rel=\"noopener\">expand<\/a> their operations, and Egyptian companies <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8f0411ed-169b-48d2-8383-b7046bc5f929\" style=\"\" rel=\"noopener\">teaming up<\/a> to assemble foreign car brands locally.<\/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\/ali-alghanim-sons-automotive\/\">Ali Alghanim &amp; Sons Automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/auto-mobility\/\">Auto Mobility<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/geely\/\">Geely<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/global-auto-group\/\">Global Auto Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-yousuf-naghi-group\/\">Mohamed Yousuf Naghi Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/organi-group\/\">Organi 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=\"613495\" 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=\"613495\">\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\">RED SEA WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/16\/qatar-pauses-lng-shipments-through-the-red-sea\/\">\r\n                            Qatar pauses LNG shipments through the Red Sea                        <\/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\/16\/qatar-pauses-lng-shipments-through-the-red-sea\/\" 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\/16\/qatar-pauses-lng-shipments-through-the-red-sea\/')\">\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\/16\/qatar-pauses-lng-shipments-through-the-red-sea\/\">\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=Qatar pauses LNG shipments through the Red Sea&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/16\/qatar-pauses-lng-shipments-through-the-red-sea\/\">\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\/16\/qatar-pauses-lng-shipments-through-the-red-sea\/&title=Qatar pauses LNG shipments through the Red Sea\">\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=Qatar+pauses+LNG+shipments+through+the+Red+Sea+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F16%2Fqatar-pauses-lng-shipments-through-the-red-sea%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\/16\/qatar-pauses-lng-shipments-through-the-red-sea\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1036.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613496\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/16\/qatar-pauses-lng-shipments-through-the-red-sea\/1036-jpeg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1036.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1036.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1036.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1036.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613495\" class=\"content-area-description single-story post-613495 post type-post status-publish format-standard has-post-thumbnail hentry category-red-sea-watch tag-enterpriseam tag-red-sea tag-red-sea-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.451e4470-d11b-4112-bd3d-13bc05a60a42.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Oil and gas woes deepen amid Red Sea escalation: <\/strong>No fewer than five Qatari vessels carrying liquefied natural gas (LNG) making their way to the Bab El Mandeb strait have been stopped in their tracks since Friday, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-15\/qatar-pauses-lng-shipments-via-red-sea-after-us-led-airstrikes\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported. Around 209 oil tankers \u2014 or 4% of the world\u2019s oil fleet \u2014 have started rerouting away from the Red Sea over the weekend in the clearest example of disruption to the oil market since Israel\u2019s war on Gaza began, according to <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/4ffvhuh8\" style=\"\" rel=\"noopener\">Asharq Business<\/a>, citing a note from Oil Brokerage.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bigger picture: <\/strong>While the Houthi group hasn\u2019t purposely targeted any oil tankers since theonset of attacks in November, Qatar \u2014 the second largest exporter of LNG to Europe \u2014 likely views <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0bcf9c2f-316d-432b-8b50-decc78380161\" style=\"\" rel=\"noopener\">US and UK strikes<\/a> in Yemen as the beginning of graver tensions in the Red Sea. The American and British navies jointly <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-12\/tanker-owner-torm-pauses-all-transits-through-southern-red-sea\" style=\"\" rel=\"noopener\">advised<\/a> merchant vessels to avoid Red Sea transit following their attacks on Houthi positions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This includes Qatar\u2019s state-owned LNG carrier <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.qatarenergy.qa\/en\/Pages\/vHome.aspx\" style=\"\" rel=\"noopener\">QatarEnergy<\/a><\/strong><strong>,<\/strong> which is pausing Red Sea transits pending a security update, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/lng-tankers-held-up-over-weekend-following-us-uk-strikes-houthis-data-2024-01-15\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported. \u201cIt is a pause to get security advice, if passing (through the) Red Sea remains unsafe we will go via the Cape \u2026 It is not a halt of production,\u201d a senior source that the newswire says has direct knowledge of the matter said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>M<\/strong><strong>arket reax: <\/strong>Natural gas (Nymex) fell by 6.5% to USD 3.10 per MMBtu, while Brent crude inched down to 0.2% to USD 78.15 a barrel by the end of trading yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The shipping industry is still feeling the pressure<\/strong><strong>:<\/strong> German shipping line Hapag-Lloyd decided to continue to reroute ships around the Cape of Good Hope for at least another week since it pulled its fleet from the fraught waterway in December, a <a target=\"_blank\" href=\"https:\/\/www.hapag-lloyd.com\/en\/services-information\/news\/2023\/12\/faq-for-the-suez-canal-situation.html\" style=\"\" rel=\"noopener\">statement<\/a> from the shipping giant said. Shipowners group <a target=\"_blank\" href=\"https:\/\/www.bimco.org\/\" style=\"\" rel=\"noopener\">BIMCO<\/a> also issued a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/bimco_bimco-redsea-maritimesecurity-activity-7152629232093839360-_wud?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">statement<\/a> yesterday highlighting the risks to shipping in the region that recommended \u201cshipping companies to consider avoiding shipping operations in the area.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But, the recent disruptions in Red Sea shipping have not triggered a shift to air<\/strong><strong> freight for<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.fedex.com\/en-us\/home.html\" style=\"\" rel=\"noopener\">FedEx<\/a><\/strong><a target=\"_blank\" href=\"https:\/\/www.fedex.com\/en-us\/home.html\" style=\"\" rel=\"noopener\">,<\/a><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/fedex-has-not-seen-much-impact-red-sea-disruptions-ceo-says-2024-01-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. \u201cShipping over the ocean makes up 90% of global commerce, so even a small change would have an impact, but we haven't seen much yet,\u201d FedEx CEO Raj Subramaniam said.<\/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\">DEVELOPMENTS ON THE GROUND-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Houthis targeted a US commercial vessel with an anti-ship ballistic<\/strong><strong> missile,<\/strong> US Central Command (Centcom) <a target=\"_blank\" href=\"https:\/\/twitter.com\/CENTCOM\/status\/1746913313932685597\" style=\"\" rel=\"noopener\">said<\/a> yesterday on X. The missile struck a US operated and owned container vessel dubbed the Gibraltar Eagle, with the ship continuing its journey without reporting injuries to crew or serious damage, Centcom added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Houthis are backing up rhetoric with action: <\/strong>\u201cAttacks to stop Israeli ships or those heading to the ports of the occupied Palestine will continue,\u201d the group\u2019s chief negotiator Mohammed Abdulsalam told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/houthis-vow-keep-up-red-sea-attacks-after-us-led-strikes-2024-01-15\/\" style=\"\" rel=\"noopener\">Reuters<\/a> following the US-led strikes on Yemen.The latest attack indicates that the Iran-backed group seems set to carry through on its threat to continue its campaign against shipping in the Red Sea despite recent military action from the West, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/uk-marine-monitoring-report-vessel-hit-by-missile-east-yemens-aden-2024-01-15\/\" style=\"\" rel=\"noopener\">Reuters<\/a> said. <\/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\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613497 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=\"613497\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/16\/613497\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613497\" class=\"content-area-description single-story post-613497 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:\/\/web.vodafone.com.eg\/en\/sustainability-report-2023\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/161.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613498\" 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=\"613498\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/16\/ezdehar-acquires-minority-stake-in-local-pharma-delivery-startup-yodawy-with-usd-10-mn-investment\/\">\r\n                            Egypt\u2019s Ezdehar Management acquires minority stake in local pharma delivery startup Yodawy with USD 10 mn investment                        <\/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\/16\/ezdehar-acquires-minority-stake-in-local-pharma-delivery-startup-yodawy-with-usd-10-mn-investment\/\" target=\"_blank\">\n                    Open in new tab            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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/16\/ezdehar-acquires-minority-stake-in-local-pharma-delivery-startup-yodawy-with-usd-10-mn-investment\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1045.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613499\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/16\/ezdehar-acquires-minority-stake-in-local-pharma-delivery-startup-yodawy-with-usd-10-mn-investment\/1045-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1045.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1045.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1045.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1045.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613498\" class=\"content-area-description single-story post-613498 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam tag-ezdehar tag-healthtech tag-investment-watch tag-pharma tag-startup-watch tag-startups tag-yodawy 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\/.f9ae94d6-6b46-491b-aef1-097abb1c2729.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Ezdehar invests big in local healthtech startup:<\/strong> Egypt-based private equity firm Ezdehar Management has acquired a minority stake in local pharma delivery startup <a target=\"_blank\" href=\"https:\/\/www.yodawy.com\/\" style=\"\" rel=\"noopener\">Yodawy<\/a> through a USD 10 mn investment, Ezdehar said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/950.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The investment came through its Ezdehar Egypt Mid-Cap Fund II, which counts the European Bank for Reconstruction and Development, International Financing Corporation and others among its contributors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where is the money going? <\/strong>The investment will help Yodawy grow through expanding itsclient base and tech-enabled prescription capabilities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Yodawy: <\/strong>The startup\u2019s flagship product is a pharma delivery app with a built-in AI ins.approval engine and a digitized prescription tool. After being founded in 2018, Yodawy now counts <a target=\"_blank\" href=\"https:\/\/www.algebraventures.com\/\" style=\"\" rel=\"noopener\">Algebra Ventures<\/a>, Dubai-based <a target=\"_blank\" href=\"https:\/\/www.global.vc\/\" style=\"\" rel=\"noopener\">Global Ventures<\/a>, <a target=\"_blank\" href=\"https:\/\/www.dhventures.vc\/\" style=\"\" rel=\"noopener\">Delivery Hero\u2019s VC arm<\/a>, Japanese healthcare-focused fund <a target=\"_blank\" href=\"https:\/\/aaicinvestment.com\/\" style=\"\" rel=\"noopener\">AAIC Investment<\/a>, Saudi investment group <a target=\"_blank\" href=\"https:\/\/hc.dallah.com\/erec\/\" style=\"\" rel=\"noopener\">Dallah Albaraka<\/a>, Lebanon\u2019s <a target=\"_blank\" href=\"https:\/\/www.mevp.com\/\" style=\"\" rel=\"noopener\">Middle East Venture Partners<\/a> (MEVP), UAE-based <a target=\"_blank\" href=\"http:\/\/cventureseg.com\/\" style=\"\" rel=\"noopener\">C-Ventures<\/a> (CIB\u2019s VC arm), and Africa-focussed <a target=\"_blank\" href=\"https:\/\/www.p1.ventures\/\" style=\"\" rel=\"noopener\">P1 Ventures<\/a> among its backers and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/364419ee-9d01-4eac-a97b-eeabe6f9522f\" style=\"\" rel=\"noopener\">raised USD 16 mn<\/a> in a series B round last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cEzdehar\u2019s funding and partnership at this time will be critical for us to continueto drive change and support us in our mission to reduce healthcare costs, facilitate patients\u2019 access to services, and improve their overall experience,\u201d Yodawy CEO Karim Khashaba said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: Ezdehar has been keeping busy this year<\/strong> and has already <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fab775a7-1b2c-4413-9891-31d51c7431c2\" style=\"\" rel=\"noopener\">acquired<\/a> a majority stakein local clothing company SETA Textiles \u2014 the company behind clothing brands Dalydress and Premoda. Ezdehar wants to invest a total of USD 70 mn this year across various sectors that include manufacturing, healthcare, retail, technology, and others.<\/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\/ezdehar\/\">Ezdehar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthtech\/\">healthtech<\/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\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/yodawy\/\">Yodawy<\/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=\"613500 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=\"613500\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/16\/613500\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613500\" class=\"content-area-description single-story post-613500 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/415.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613501\" 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=\"613501\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/16\/the-war-on-gaza-was-back-in-the-headlines-last-night\/\">\r\n                            The war on Gaza was back in the headlines last night                        <\/a>\r\n                    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data-image-meta=\"[]\" data-image-title=\"1058.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1058.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1058.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613501\" class=\"content-area-description single-story post-613501 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam 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\/.91508408-146d-4d5b-a33c-35f4f028262e.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The war on Gaza was back in the headlines last night<\/strong>, with the nation\u2019s talking heads continuing to cover the tragic war that has now entered its hundredth day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The war on Gaza carries on with no end in sight:<\/strong> Israel has failed in eliminating Hamas, retrieving the hostages, and imposing its rule on the enclave, Hamas official Ghazi Hamad told Kelma Akhira\u2019s Lamees EL Hadidi (Kelma Akhira | watch, runtime: <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=217912174724632\" style=\"\" rel=\"noopener\">1:11<\/a> | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=341506052139992\" style=\"\" rel=\"noopener\">2:01<\/a> | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1170177281033661\" style=\"\" rel=\"noopener\">1:27<\/a>). \u201cWe want the hostage swap process within a comprehensive solution that [ultimately] leads to a ceasefire and Israeli withdrawal from the strip.\u201dThe war on Gaza also received coverage on Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=317634880622024\" style=\"\" rel=\"noopener\">watch, runtime: 7:18<\/a>), Masa DMC (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1271835823772926\" style=\"\" rel=\"noopener\">watch, runtime: 3:50<\/a>), and El Hekayah (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=401970729060195\" style=\"\" rel=\"noopener\">watch, runtime: 15:27<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cIsrael seeks to kill the two-state solution,\u201d<\/strong> and the Palestinian issue is entirely up to the international community\u2019s political lobbies, Palestinian Prime Minister Mohammad Shtayyeh told Lamees El Hadidi (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1025968505132640\" style=\"\" rel=\"noopener\">watch, runtime: 4:08<\/a>) in a recorded interview that will be aired tonight, in which he will discuss the Palestinian Authority\u2019s expectations of the International Court of Justice. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also on the airwaves last night:<\/strong><\/p>\n<ul>\n<li><strong>Egyptians urged to rally behind the national football team ahead of their game<\/strong><strong> against Ghana: <\/strong>After a not-so-charitable reception from the nation\u2019s hosts after the Pharaoh\u2019s opening Afcon match against Mozambique,Sports Minister Ashraf Sobhy made the rounds last night to show his support for the national football team. \"We, as officials and fans, stand behind them, and they must exert their utmost efforts to elevate Egyptian sports,\" Sobhy said. Sobhy called into Ala Masouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=XRsrHk2pZXU&ab_channel=SadaElbalad-%D8%B5%D8%AF%D9%89%D8%A7%D9%84%D8%A8%D9%84%D8%AF\" style=\"\" rel=\"noopener\">watch, runtime: 12:41<\/a>) and Kelma Akhira (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1828403724248009\" style=\"\" rel=\"noopener\">watch, runtime: 9:53<\/a>).<\/li>\n<li><strong>A strategy to upgrade Egypt\u2019s airports: <\/strong>Prime Minister Moustafa Madbouly\u2019s meeting yesterday with both aviation and public enterprises ministers to discuss the government\u2019s strategy to develop and upgrade our airports grid got airtime as well, with Amr Adib describing the strategy as \u201ca brave step.\u201d (El Hekayah | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=Tf2O6TtPCZQ&ab_channel=MBC%D9%85%D8%B5%D8%B1\" style=\"\" rel=\"noopener\">watch, runtime: 30:25<\/a>) (Ala Masouleety | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=mCKWcxOkvAQ&ab_channel=SadaElbalad-%D8%B5%D8%AF%D9%89%D8%A7%D9%84%D8%A8%D9%84%D8%AF\" style=\"\" rel=\"noopener\">watch, runtime: 4:19<\/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\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madbouly-cabinet\/\">Madbouly Cabinet<\/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> 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PLUS: Heliopolis Housing multi EGP bn land purchase, Egyptian National Railways loan                        <\/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\/16\/b2gold-is-looking-to-sell-gold-exploration-licenses-to-lotus-gold-plus-heliopolis-housing-multi-egp-bn-land-purchase-egyptian-national-railways-loan\/\" 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\/16\/b2gold-is-looking-to-sell-gold-exploration-licenses-to-lotus-gold-plus-heliopolis-housing-multi-egp-bn-land-purchase-egyptian-national-railways-loan\/')\">\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\/16\/b2gold-is-looking-to-sell-gold-exploration-licenses-to-lotus-gold-plus-heliopolis-housing-multi-egp-bn-land-purchase-egyptian-national-railways-loan\/\">\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=B2Gold is looking to sell gold exploration licenses to Lotus Gold. 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<\/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\/16\/b2gold-is-looking-to-sell-gold-exploration-licenses-to-lotus-gold-plus-heliopolis-housing-multi-egp-bn-land-purchase-egyptian-national-railways-loan\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1059.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613505\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/16\/b2gold-is-looking-to-sell-gold-exploration-licenses-to-lotus-gold-plus-heliopolis-housing-multi-egp-bn-land-purchase-egyptian-national-railways-loan\/1059-jpeg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1059.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1059.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1059.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1059.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613504\" class=\"content-area-description single-story post-613504 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-b2gold tag-debt tag-development-finance tag-ebrd tag-egyptian-national-railways tag-employment tag-enterpriseam tag-french-development-agency tag-heliopolis-housing-and-development tag-lotus-gold tag-mining tag-real-estate tag-telecom-egypt tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.a7548337-bdda-4aec-bfbe-c6343608dcb9.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">MINING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>B2Gold\u2019s gold exploration licenses are up for grabs: <\/strong>Canadian miner B2Gold islooking to give Canadian miner Lotus Gold <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a82b236-d72c-430e-9424-deae2c762298\" style=\"\" rel=\"noopener\">gold exploration licenses<\/a> for six blocks in Egypt, as it looks to focus its activity on a recently-acquired mine in South Africa instead, unnamed government officials told <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/2p97j93n\" style=\"\" rel=\"noopener\">Asharq Business<\/a>.<\/p><p class=\"tag-border-left\">REAL ESTATE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Heliopolis Ho<\/strong><strong>using<\/strong><strong> to make multi EGP bn land purchase: <\/strong>EGX-listed real estatedeveloper Heliopolis Housing and Development (HHD) will purchase a land plot from the Holding Company for Spinning and Weaving under a cooperation agreement inked between the two, according to a bourse <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/1056.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>. HHD has already made a EGP 2 bn down payment on the plot and will soon make its choice between six offered land plots to use for a real estate project, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/01\/14\/1756082\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reported.<\/p><p class=\"tag-border-left\">DEBT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egyptian National Railways in search of financing for two new rail lines: <\/strong>EgyptianNational Railways (ENR) is seeking to secure an EGP 18 bn syndicated loan from local banks to help finance two new railway lines set to break ground in 2H 2024, unnamed government sources told <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/2p968axe\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The French Development Agency (AFD) and the European Bank for Reconstruction and Development (EBRD) have already agreed on an EUR 250 mn loan for the Tanta-Mansoura-Damietta line, but the second Siwa-Matrouh-Gargoub is yet to receive backing from any international lenders.<\/p><p class=\"tag-border-left\">DEVELOPMENT FINANCE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>House greenlights USD 614 mn package loan to help reform our <\/strong><strong>banking<\/strong><strong> and<\/strong><strong> financial sectors:<\/strong> MPs yesterday approved a USD 614 million loan from the Arab Monetary Fund (AMF) that will be allocated to support structural reforms in the banking and financial sectors.<\/p><p class=\"tag-border-left\">EMPLOYMENT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another big initiative in the pipeline for El Sisi\u2019s third term:<\/strong> The Labor Ministry announced the launch of an initiative \u2014 dubbed <a target=\"_blank\" href=\"https:\/\/mehany.tafra-eg.org\/programs\" style=\"\" rel=\"noopener\">Mehany 2030<\/a> \u2014 to train and qualify 1 mn young Egyptians for local and foreign vocational markets, according to a <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/3zsfrb6s\" style=\"\" rel=\"noopener\">Labour Ministry readout<\/a>. The initiative will target training at least 27k individuals in its first phase \u2014 1k trainees from each governorate, and integrate at least 50 private training centers into the initiative.<\/p><p class=\"tag-border-left\">TELECOM-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Telecom Egypt and ZOI to build new digital corridor: <\/strong>State-run Telecom Egypt haveteamed up with <a target=\"_blank\" href=\"https:\/\/www.zainomantel.com\/\" style=\"\" rel=\"noopener\">Zain Omantel International<\/a> (ZOI) \u2014 a joint venture of Kuwait\u2019s <a target=\"_blank\" href=\"https:\/\/www.zain.com\/en\" style=\"\" rel=\"noopener\">Zain<\/a> and Oman\u2019s <a target=\"_blank\" href=\"https:\/\/www.omantel.om\/About%20us\" style=\"\" rel=\"noopener\">Omantel<\/a> \u2014 to build a digital corridor using both subsea and overland cables linking the Mediterranean Sea to the Arabian Sea and the Arabian Gulf, according to a joint <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/1030.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/b2gold\/\">B2Gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-national-railways\/\">Egyptian National Railways<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/employment\/\">employment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/french-development-agency\/\">French Development Agency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/heliopolis-housing-and-development\/\">Heliopolis Housing and Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lotus-gold\/\">Lotus Gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mining\/\">mining<\/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\/telecom-egypt\/\">Telecom Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n   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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\/.5e57bf70-61ac-4d6c-99de-9167a0ab227f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>London is shedding finance jobs<\/strong>, with openings in the field down 38% year-on-year in 2023. Total job seekers dropped 16% in the same period, according to a new report by staffing agency <a target=\"_blank\" href=\"https:\/\/www.morganmckinley.com\/uk\/article\/londons-financial-employment-rollercoaster-year-contrasts-and-road-ahead-in-2024\" style=\"\" rel=\"noopener\">Morgan McKinley<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they\u2019re saying:<\/strong> \u201cWe haven\u2019t seen a drop of this magnitude for a while. After a year ofstrong pay growth and over-hiring driven by a tight labor market, signs of a cooling market emerged as we approached the end of a challenging year,\u201d Morgan McKinley UK chief Hakan Enver said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Global banks slashed some 60k jobs last year<\/strong> \u2014 and fewer people are interested in applyingfor those positions that are still open. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s more, job seekers are moving for smaller bumps than a year ago. <\/strong>The averagefinance professional taking up a new post got a 14% bump in salary last year \u2014 down from 20% in 2022.<\/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>Asset manager GQG <\/strong><strong>doubles down<\/strong><strong> on Mideast stocks:<\/strong> Florida-based assetmanagement firm GQG has built up stakes amounting to USD 2.8 bn in companies in the Middle East over the past 18 months, lured by \u201cbusiness friendly\u201d government policies, plans to move away from oil, and \u201cmassive privatization hopes,\u201d the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/4f0c9d6e-23a2-42f3-9ec4-aa414d30ea40\" style=\"\" rel=\"noopener\">Financial Times<\/a> reported, citing GQG founder Rajiv Jain. Meanwhile, the company has cut its investments in China to roughly half that level amid a government crackdown on private sector activity.<\/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>China holds k<\/strong><strong>ey rate: <\/strong>China\u2019s central bank left interest rates on one-yearlending facility loans untouched on Monday, disappointing investors who were expecting a rate cut. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/china-cbank-surprises-markets-by-leaving-medium-term-rate-unchanged-adds-2024-01-15\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<li><strong>Global banks poised for a major valuation surge:<\/strong> Boston Consulting Group's latest report showed that global lenders could increase their collective valuation by USD 7 tn within the next five years by prioritizing growth and productivity improvements, despite lower profitability and stiff competition from fintech firms. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/bank-valuations-could-rise-by-7-trillion-five-years-study-finds-2024-01-15\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<\/ul><p><a target=\"_blank\" id=\"t.d925cf805d0f58ac2f2d8bb950c045ecb11fc1d8\" 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 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\">26,251<\/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: +5.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.83<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.96<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.85<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.95<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,122<\/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: +1.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,778<\/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: +2.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,101<\/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: +1.0%)<\/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>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-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">7,595<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: -1.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,455<\/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: -1.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 78.15<\/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\">-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 3.10<\/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\">-6.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,059.00<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4%<\/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>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 42,737.10<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8% (YTD: +1.3%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 1.1% at yesterday\u2019s close<\/strong> on turnover of EGP 5.3 bn (55.6% above the 90-day average). Foreign investors were net buyers. The index is up 5.5% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Eastern Company (+4.8%), Credit Agricole (+3.5%), and Orascom Development (+2.5%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Heliopolis Housing (-2.7%), Oriental Weavers (-2.0%), and B Investments (-1.6%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mostly in the red this morning. <\/strong>Remarks by IMF boss Kristalina Georgieva are weighing on sentiment after <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/01\/15\/china-needs-reforms-to-halt-significant-growth-declines-imf-chief.html\" style=\"\" rel=\"noopener\">she said yesterday in Davos<\/a> that China needs to push for significant reforms or face \u201ca fairly significant decline in growth rates.\u201d Futures suggest stocks across western Europe and on Wall Street start the day in the red. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/london-stock-exchange\/\">London Stock Exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uk\/\">UK<\/a>\n                <!-- <span 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href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/a-look-through-the-governments-efforts-to-make-egypts-petrochemicals-industry-greener\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/172.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"613510\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/a-look-through-the-governments-efforts-to-make-egypts-petrochemicals-industry-greener\/172-jpg-23\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/172.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"172.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/172.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/172.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-613509\" class=\"content-area-description post-613509 goinggreen type-goinggreen status-publish has-post-thumbnail hentry category-going-green tag-climate tag-enterprise-going-green tag-enterpriseam tag-going-green tag-oil-and-gas tag-petrochemicals tag-renewables wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>What is Egypt doing to greenify its petrochemicals industry? <\/strong>Betweensetting up a large number of green petrochemical plants and boosting investments in the sector, Egypt has been working overtime to ensure its petrochemical sector is catching up to the global and nationwide green transition.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>First things first, what are petrochemicals? <\/strong>In the simplest terms, petrochemicals arechemical products derived from petroleum. The petrochemical industry is currently one of the world\u2019s most important, with petrochemicals being used in the production of a variety of different things \u2014 plastics, medical equipment, tires, packaging, clothing, solar panels, and batteries to name a few. The petrochemicals market is currently valued at <a target=\"_blank\" href=\"https:\/\/www.statista.com\/statistics\/696921\/petrochemical-market-value-worldwide\/\" style=\"\" rel=\"noopener\">around USD 585 bn<\/a> and is expected to almost double to USD 1 tn by 2030. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More demand means more oil consumption:<\/strong> Petrochemicals will account for more than athird of the growth in oil demand by 2030 and nearly half by 2050, according to an <a target=\"_blank\" href=\"https:\/\/www.iea.org\/reports\/the-future-of-petrochemicals\" style=\"\" rel=\"noopener\">International Energy Agency<\/a> (IEA) report. \u201cThe chemical sector is the largest industrial energy consumer and the third largest industry subsector in terms of direct CO2 emissions,\u201d the <a target=\"_blank\" href=\"https:\/\/www.iea.org\/energy-system\/industry\/chemicals\" style=\"\" rel=\"noopener\">IAE<\/a> writes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A step in the right direction:<\/strong> The growing global interest in reaching net zero emissions andtransitioning to green energy has spilled over into the petrochemicals sector, encouraging the development of sustainable petrochemicals \u2014 like through chemical recycling a process where used plastic is broken down into raw materials. \u201cOver recent years, traditional petrochemical companies have been announcing sizable investments into research and production of [bioplastics],\u201d <a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/commodityinsights\/en\/market-insights\/blogs\/petrochemicals\/032422-sustainable-petrochemicals-markets-green-future\" style=\"\" rel=\"noopener\">S&P Global<\/a> wrote, pointing to the annual 1.4 mn tons of chemical recycling capacity that is expected to come online by 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt has benefited from the global demand for petrochemicals<\/strong>, with the volume of exportsexpected to reach USD 9 bn soon, with plastic exports making up around 15% of that figure, head of the Chemical and Fertilizers Export Council Khaled Aboul Makarem told Enterprise. Petrochemical exports were up around 23% y-o-y in 2022 to USD 8.6 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How much is Egypt producing? <\/strong>The country produced some 4.3 mn tons of petrochemicalsduring the fiscal year 2021-22, according to recent figures \u2014 more than half the 2.1 mn tons produced in the fiscal year 2015-16. The sector makes up around 3% of the country\u2019s GDP.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big plans ahead: <\/strong>There is considerable investment momentum for the industry, sources at theHolding Company for Chemical Industries told Enterprise, with plans to raise production capabilities and create a surplus earmarked for exports in light of the growing global demand for petrochemical products. The plan aims to increase Egypt\u2019s production of fertilizers to 2 mn tons a year, compared to current volumes of 550k tons \u2014 the surplus will be directed towards exports \u2014 and look at green energy sources in light of the various international agreements and legislations recently put forward to reduce emissions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What is Egypt doing to make its petrochemical industry greener?<\/strong> As part of a nationwidegreen push, the government is investing USD 1.2 bn in environmentally friendly petrochemical projects that will reduce emission by 2.1 mn tons a 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\">SO WHAT\u2019S IN STORE?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The state has a number of green petrochemical projects in the pipeline<\/strong>, among the mostnotable are: <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Polylactic acid plant:<\/strong> Preliminary studies are underway for a USD 600 mn polylactic acid\u2014 a resource deprived from renewable and organic sources and used to prepare and process plastics \u2014 plant that will have a production capacity of 75k tons a year. The plant will rely on agricultural waste and raw sugar for its production and it is expected to kick off operations in 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Damietta Port bioethanol pla<\/strong><strong>nt: <\/strong>The Egyptian Bioethanol Company (EBC) will carry out aUSD 112 mn project to use molasses produced by local sugar companies to produce 100k tons of bioethanol annually \u2014 a versatile product used in paints, disinfectants, and pharma products, among many others \u2014 in order to meet domestic market needs and export the surplus. Operations are planned to kick off this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- From rice straw to wood:<\/strong> The Egyptian Petrochemicals Holding Company (ECHEM) willestablish a EUR 284 mn factory manufacturing 205k cubic meters of medium-density fibreboard (MDF) from rice straw a year in Beheira Governorate\u2019s Idku. The volumes will meet local needs and replace imports in addition to reducing pollution resulting from the burning of rice straw. The project will be carried out in coordination with the Egyptian General Petroleum Corporation, Petrojet and Sidi Kerir Petrochemicals Company (Sidpec).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Algae oil production:<\/strong> ECHEM <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bde2a22-f4e7-428a-b2c3-d0bc702d9aa7\" style=\"\" rel=\"noopener\">signed an MoU<\/a> with the UAE\u2019s Rega Energy to producealgae oil, a feedstock for bio-jet fuel and <a target=\"_blank\" href=\"https:\/\/www.bioplasticsmagazine.com\/en\/news\/meldungen\/20211125-Study-shows-renewable-naphtha-market-is-set-for-robust-growth.php\" style=\"\" rel=\"noopener\">green naphtha<\/a>, which can be used to make environmentally-friendly petrochem products, in Egypt\u2019s New Alamein City. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The state also has a number of not-so-green petrochemical projects in the making<\/strong>, like:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Red Sea petrochemical complex:<\/strong> A USD 11.5 bn project in the Suez Canal EconomicZone that aims to produce 3.5 mn tons of petrochemical and petroleum products a year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Petrochemical refining complex in New Alamein:<\/strong> Egypt\u2019s New Alamein complex willhouse several projects worth a combined USD 13.9 bn, including a petrochemical refining plant that would produce 3.9 mn tons a year of petrochemical products in addition to 1k tons of petroleum products per year from 4 mn tons of crude oil. The complex will also include a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0cd58af2-675a-444f-b309-dbecca21d0d9\" style=\"\" rel=\"noopener\">soda ash plant<\/a> with a capacity of 600k tons per year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We also have many projects<\/strong><strong> in the pipeline that will work to serve the green<\/strong><strong>petrochemical industry<\/strong>, like <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3b3e6cad-637c-4ca8-afe6-94472fcc12d4\" style=\"\" rel=\"noopener\">Norwegian renewable energy developer Scatec\u2019s green ammonia project<\/a> and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a9365ee8-1414-43db-b2c9-ae5173329b2b\" style=\"\" rel=\"noopener\">ammonium nitrate fertilizer production project<\/a> \u2014 North Abu Qir Agricultural Nutrients Company \u2014 which was <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02Ar1iMjceuzrZdA5sF3wtvTU3N6uJPB2QvvENDj4EysvF8zHW52a8McVgCruzpndRl\" style=\"\" rel=\"noopener\">initiated in May<\/a> last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Like all<\/strong><strong> else, the sector has been hit by current economic woes: <\/strong>Ongoing FX pressures andgas shortages have impacted the petrochemical sector\u2019s production and exports, Federation of Egyptian Industries official Sherif El Gabaly told Enterprise. The sector will resume its path to growth once producers have better access to hard currency and better access to raw material. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top green economy stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>USD 6 bn worth of green projects in the pipeline: <\/strong>The government has receivedseveral applications from Gulf and foreign investors to get golden licenses for green energy projects worth <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b66177f4-97ff-48f9-bd2f-228d34b14fe0\" style=\"\" rel=\"noopener\">over USD 6 bn<\/a>.<\/li>\n<li><strong>Green data center incoming:<\/strong> A consortium including Swicorp Infra Capital (SIC),Income Egypt, and Record Digital Asset Venture will build, own, and operate a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7c667137-11a1-49ae-9442-7fb5bb683dc4\" style=\"\" rel=\"noopener\">green data center<\/a> in Egypt, under an MoU inked with the Communications Ministry.<\/li>\n<li><strong>Desalination plants to be offered up to the private sector in 1H 2024: <\/strong>Fourdesalination plants <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0972661b-a8a3-4d61-9802-d9d9fd984327\" style=\"\" rel=\"noopener\">will be offered<\/a> up to the private sector in the first half of 2024 to kick off the government's plan to tender 21 plants in total.<\/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\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/petrochemicals\/\">petrochemicals<\/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                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"613511\" 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\/16\/613511\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613511\" class=\"content-area-description single-story post-613511 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 style=\"font-weight:400;\">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 style=\"font-weight:400;\">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\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>USD 100 mn auto industry localization | Qatar pauses LNG shipments | Ezdehar + Yodawy | Davos day two<\/p>\n","protected":false},"featured_media":613489,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-613488","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d306ea15-38ac-45fc-a364-986f1432c71e","teaser":"USD 100 mn auto industry localization | Qatar pauses LNG shipments | Ezdehar + Yodawy | Davos day 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