{"id":613644,"date":"2024-01-18T00:00:00","date_gmt":"2024-01-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=613644"},"modified":"2025-12-17T03:18:10","modified_gmt":"2025-12-17T03:18:10","slug":"kuwaiti-retail-giant-alshaya-group-to-downsize-egypt-operations","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/kuwaiti-retail-giant-alshaya-group-to-downsize-egypt-operations\/","title":{"rendered":"Kuwaiti retail giant Alshaya Group to downsize Egypt operations?"},"content":{"rendered":"<section id=\"613646\" 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=\"613646\">\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\/18\/traders-wager-that-an-upcoming-devaluation-will-be-smaller-than-expected\/\">\r\n                            Traders wager that an upcoming devaluation will be smaller than expected                        <\/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\/18\/traders-wager-that-an-upcoming-devaluation-will-be-smaller-than-expected\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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We\u2019ve also got the low-down on Alshaya Group\u2019s decision to reduce its operations in the country on the back of economic challengesand so much more \u2014 so let\u2019s jump right into it.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>And in case you missed it, we welcomed a new publication to the Enterprise family this<\/strong><strong> week \u2014 EnterpriseAM 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>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** You can also stay tuned for the launch later this month of EnterpriseAM KSA. <\/strong><a target=\"_blank\" href=\"https:\/\/ksaform.enterprise.news\/\" style=\"\" rel=\"noopener\">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>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/ksaform.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/152.jpg?ssl=1\"\/><\/a> <\/p>\n<p class=\"tag-border-left\">THE BIG STORY HERE AT HOME- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a>  <strong>Traders\u2019 wager of a big devaluation around the corner begins to dissipate: <\/strong>While everyone is agreed that a devaluation is on its way, traders appear to be convinced that it\u2019s going to be smaller than expected and further down the line than we first thought, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-17\/bets-on-big-fx-devaluation-in-egypt-crushed-as-government-nears-imf-deal\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The why: <\/strong>The EGP has been regaining value in the three-month non-deliverable forwards (NDF) market, suggesting traders are pulling back from wagers of a severe devaluation in the short term after IMF officials <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/404ad3aa-5e2b-4642-b79a-d7ea249afca2\" style=\"\" rel=\"noopener\">indicated<\/a> that a full float of the EGP may not be in the cards for the immediate future, saying that the Fund is prioritizing getting inflation under control over exchange-rate reform. Three-month NDFs had the USD-EGP rate below 40 yesterday, from a record high of 45 at the end of December, according to the outlet. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But some aren\u2019t convinced: <\/strong>\u201cA potential upsizing of the IMF loan will likely be accompanied by an FX adjustment sooner rather than later amid additional pressures on the balance of payments due to the Gaza conflict,\u201d Morgan Stanley economist Hande Kucuk said in a note cited by Bloomberg. <\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- EFG Holding mulling swapping its PayTabs Egypt stake for a slice of its Saudi<\/strong><strong> parent company<\/strong><strong>: <\/strong>EFG Finance \u2014 the non-bank financial services arm of EFG Holding \u2014 might look into acquiring a stake in Saudi\u2019s PayTabs, EFG Finance CEO Aladdin El Afifi told <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/358czchn\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. EFG Finance would consider the option of giving up its 50% stake in <a target=\"_blank\" href=\"https:\/\/site.paytabs.com\/en\/egypt\/\" style=\"\" rel=\"noopener\">PayTabs Egypt<\/a> \u2014 a joint venture between EFG Holding and PayTabs \u2014 for a minority stake in the Saudi parent company, El Afifi said. EFG Finance \u201cwould like to have a seat at the table\u201d to help accelerate cross-border expansions, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a><strong>#2- Egypt looks to hedge against rising commodity prices:<\/strong> The government isconsidering purchasing hedging contracts to guard against expected volatility in the price of certain commodities following disruption in the Red Sea that has upended global supply chains, Assistant Supply Minister Ibrahim Ashmawy told <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/y93ea7my\" style=\"\" rel=\"noopener\">CNBC Arabia<\/a> in an interview yesterday. <\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A high-stakes game against Ghana:<\/strong> The Pharaohs face a tense Afcon clash against Ghana today <a target=\"_blank\" href=\"https:\/\/www.cafonline.com\/caf-africa-cup-of-nations\/match-centre?competition=190&season=2023&match=2411913\" style=\"\" rel=\"noopener\">at 10:00pm CLT<\/a> after a not-so promising start to the tournament that saw the team nearly losing 2-1 to Mozambique until a last-gasp penalty from Mohamed Salah. A poor showing could put Egypt\u2019s tournament fate in jeopardy as it risks getting kicked out at the group stages.<\/p>\n<p class=\"tag-border-left\">FROM DAVOS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>It\u2019s Davos day four: <\/strong>It\u2019s a quieter day at Davos after yesterday\u2019s headline speechesfrom US State Secretary Anthony Blinken and UN Secretary-General Antonio Guterres with sessions delving into the AI boom, green transitions, and the global startup scene, in addition to appearances from regional heavyweights you should tune into.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rania Al Mashat will be taking the stage twice today<\/strong>: The international cooperation minister will kick off the day by speaking ata session on <a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2024\/sessions\/building-equitable-transitions-can-green-be-fair\/\" style=\"\" rel=\"noopener\">Building Equitable Transitions: Green and Fair<\/a> at 11:15am CLT. Later on, Al Mashat is penciled in to take to the stage alongside Saudi Planning Minister <strong>Faisal Al Ibrahim<\/strong>, Moroccan Finance Minister <strong>Nadia Fettah Alaoui<\/strong>, Hikma Pharma Chairman <strong>Mazen Darwazeh<\/strong>, Dubai Future Foundation CEO <strong>Khalfan Belhoul<\/strong>, DAMAC Chairman <strong>Hussain Sajwani<\/strong>, and others for a session on <a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2024\/sessions\/menas-economic-dilemma-reforming-amid-uncertainty\/\" style=\"\" rel=\"noopener\">MENA's Economic Dilemma: Reforming amid Uncertainty<\/a> at 2:15pm CLT. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- MNT Halan CEO Mounir Nakhla <\/strong>is in Davos as part of the WEF\u2019s Innovator Forum and will speak today on a <a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2024\/\/sessions\/comparing-notes-on-financial-inclusion\" style=\"\" rel=\"noopener\">panel on financial inclusion<\/a> moderated by the Queen of the Netherlands. <\/p>\n<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>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ON THE SIDELINES- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.alfanar.com\/\" style=\"\" rel=\"noopener\">Al Fanar\u2019s<\/a><\/strong><strong> investments in Egypt could reach USD 1.5 bn this year <\/strong>asthe Saudi company expects its Egyptian operations to \u201ctake up a larger space in 2024,\u201d company VP Sabah Almutlaq told Asharq Business at Davos (<a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1747559474074718482\" style=\"\" rel=\"noopener\">watch, runtime: 0:57<\/a>). Al Fanar is a regional and global powerhouse in the construction of renewable energy systems and made the headlines in the local business press after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4ab5ebab-55a1-4a68-97a3-0f02e5b4e147\" style=\"\" rel=\"noopener\">ink<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4ab5ebab-55a1-4a68-97a3-0f02e5b4e147\" style=\"\" rel=\"noopener\">ing<\/a> an MoU to build a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/sustainable-business\/saudis-alfanar-build-35-bln-green-hydrogen-project-egypt-2022-08-29\/\" style=\"\" rel=\"noopener\">USD 3.5 bn<\/a> green hydrogen and ammonia facility. Al Fanar has also supported our solar ambitions and runs a 50-MW section of the Benban Solar Park.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a busy morning in business news<\/strong>, with three stories capturing the attention of journalists around the world. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Stocks and bonds retreated yesterday around the world. <\/strong>Investors are digesting signs that the United States, the European Union, and the UK will not move quickly to slash interest rates. European Central Bank Christine Lagarde set off the selldown as she joined peers around the world in signaling that rates are unlikely to start coming down until summertime, rather than this spring. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bankers speaking in Davos are singing from the same hymnal on that front<\/strong>, writes Bloomberg, noting, \u201cEveryone from JPMorgan\u2019s Daniel Pinto to Standard Chartered\u2019s Bill Winters to Cantor Fitzgerald\u2019s Howard Lutnick have said they expect monetary policy to ease slower than anticipated by the market.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The result: The S&P 500, Nasdaq Composite, EuroStoxx 600 and FTSE 100 all fell <\/strong><strong>yesterday<\/strong>, and Asian markets are mixed this morning. Futures suggest mixed openings for major European benchmarks later this morning and a weak open on Wall Street. Notably, Chinese shares are touching a five-year low. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/3650273d-458e-4e02-929e-bbb3ac7c3a40\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/01\/18\/asia-markets.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-17\/bankers-at-davos-add-to-chorus-of-caution-on-interest-rate-cuts\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Iran is opening fire on its neighbors, claiming to fight \u201canti-Iran terror groups\u201d:<\/strong> Iran has fired missiles and launched drones against targets in Syria, Iraq, and Pakistan in the span of 24 hours, openly claiming responsibility for the operations. It says the missile attacks underscore that it will be \u201ctough and decisive\u201d with its foes, the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/01\/17\/world\/middleeast\/iran-missiles-pakistan-iraq.html\" style=\"\" rel=\"noopener\">New York Times<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In other regional tensions: <\/strong>The US <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/business-heads-see-red-sea-tensions-causing-lengthy-trade-dislocation-2024-01-17\/\" style=\"\" rel=\"noopener\">listed the Houthis as a terror group<\/a> on the same day that they hit another US-operated ship. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Samsung\u2019s new Galaxy S24 lineup looks set to be a hit <\/strong>thanks to heavy integration of generative AI tech and modest tweaks to its popular designs. The launch of the new handsets is all over the front pages of the global business press, but gadget nerds will want to start with <a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2024\/1\/17\/24040715\/samsung-galaxy-s24-ultra-specs-price-ai\" style=\"\" rel=\"noopener\">the Verge\u2019s hands-on with the flagship S24 Ultra<\/a>. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/7183be5a-dd2b-44bb-a544-f0f217f6e3a1\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/01\/17\/samsung-galaxy-s24-specs-price-availability-ai-features.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/samsung-packs-newest-galaxy-s24-smartphones-with-ai-functions-beat-apple-2024-01-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong><\/p>\n<ul>\n<li><strong>Kuwait has new ministers of oil and finance<\/strong> after the new emir shuffled his cabinet, leaving just three members of the previous cabinet in office. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-17\/kuwait-oil-finance-ministers-ousted-in-new-premier-s-big-revamp\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/li>\n<li><strong>A lab in China sequenced the virus that causes Covid two weeks before <\/strong><strong>Beijing told the world<\/strong> about the deadly bug, the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/china\/chinese-lab-mapped-deadly-coronavirus-two-weeks-before-beijing-told-the-world-documents-show-9bca8865\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> reports in an exclusive.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MORNING MUST READ-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OpenAI wants to ensure ChatGPT won\u2019t be misused during election season. <\/strong>Thecreators of ChatGPT are strengthening their policies and tools to address and tackle the flow of misinformation and abuse as they \u201cprepare for elections in 2024 across the world\u2019s largest democracies,\u201d the company <a target=\"_blank\" href=\"https:\/\/openai.com\/blog\/how-openai-is-approaching-2024-worldwide-elections\" style=\"\" rel=\"noopener\">said<\/a> in a statement. Using ChatGPT to build applications for political campaigning and lobbying will be off-limits, alongside letting chatbots pretend to be real people, or using the software for voter suppression.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>2024 is one of the biggest election years <\/strong>with over 50 countries heading to the polls \u2014 including the coming Trump vs. Biden showdown. We have the full rundown of everything 2024 elections in our <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f480faa-4a09-4161-b4af-1307f2accae8\" style=\"\" rel=\"noopener\">Enterprise Explains<\/a> published last month. <\/p>\n<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\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/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>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DATA POINT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The budget deficit clocked in at 4.95% during the six months to December 2023,<\/strong> while the primary surplus jumped six fold y-o-y to EGP 150 bn during the same period, according to the <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0zKeSZjCH3nycy9YL42CB933MJGtcuJQR4etM3s3SxNz6Pt29ckVLnU3uv135TcXul\" style=\"\" rel=\"noopener\">cabinet readout<\/a> out yesterday. Revenues also jumped some 41.6% y-o-y, but public spending increased by 56% y-o-y in the same timeframe.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#2- A record 14.9 mn tourists visited Egypt in 2023<\/strong>, in line with the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6b948aec-8dcc-44e0-89b4-81dbe56c2bda\" style=\"\" rel=\"noopener\">state\u2019s target<\/a> toreel in 15 mn tourists during the year, despite the headwinds that the industry has been facing, Tourism Minister Ahmed Issa said at a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0UBr8AER9RGDW3D117qWGPBSm9BWZvGLjRPJfmrnGaeZ6gA9yzvT4tC5CFCZqyVtDl?locale=ar_AR\" style=\"\" rel=\"noopener\">cabinet meeting<\/a> yesterday. That\u2019s up 27.4% from the <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/22mm7a9h\" style=\"\" rel=\"noopener\">11.7 mn tourists<\/a> that the country welcomed in 2022. <\/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>CLARIFICATION #1<\/strong><strong>-<\/strong>Representatives from Emirates NBD and EGBank have reached out to us to let us know that their limits on international transactions have not changed. Instead, clients must contact each bank\u2019s customer service department to specifically activate their limits before traveling abroad. Our previous coverage has been removed from our website.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CLARIFICATION #2- <\/strong>In yesterday\u2019s issue of EnterpriseAM Egypt, we reported that OrascomConstruction signed an EGP 4.2 bn agreement with Arab Bank to help fund the fourth phase of Cairo Metro Line 4. The agreement inked between the two sides is not a loan, but for bank guarantees to the National Tunnels Authority, a representative of Orascom Construction told us. The story has been updated on our website to clarify this.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/devaluation\/\">devaluation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613648 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=\"613648\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/613648\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613648\" class=\"content-area-description single-story post-613648 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/156.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">DISCOVER SOMABAY: <\/span><span style=\"font-weight:400;\">Embark on a journey of discovery in the heart of Somabay, where crystal-clear waters meet golden sands and luxury meets serenity. Experience a world of adventure, relaxation, and natural beauty like no other. From thrilling water sports to world-class golf, Somabay offers it all. Explore vibrant coral reefs, unwind in luxurious spas and savor exquisite cuisine. Your dream destination awaits, where every moment is a discovery.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613649\" 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=\"613649\">\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\">RETAIL<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/alshaya-group-to-downsize-business-in-egypt\/\">\r\n                            Weakening EGP reportedly drives Alshaya Group to downsize operations 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\/18\/alshaya-group-to-downsize-business-in-egypt\/\" 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\/18\/alshaya-group-to-downsize-business-in-egypt\/')\">\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\/18\/alshaya-group-to-downsize-business-in-egypt\/\">\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=Alshaya Group to downsize business in Egypt?&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/alshaya-group-to-downsize-business-in-egypt\/\">\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\/18\/alshaya-group-to-downsize-business-in-egypt\/&title=Alshaya Group to downsize business in Egypt?\">\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=Alshaya+Group+to+downsize+business+in+Egypt%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F18%2Falshaya-group-to-downsize-business-in-egypt%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\/18\/alshaya-group-to-downsize-business-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1494.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613650\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/alshaya-group-to-downsize-business-in-egypt\/1494-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1494.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1494.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1494.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1494.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613649\" class=\"content-area-description single-story post-613649 post type-post status-publish format-standard has-post-thumbnail hentry category-retail tag-alshaya-group tag-enterpriseam tag-foreign-exchange tag-retail wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.d972f568-08f1-4d15-b671-b1475d13d9f2.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Prepare to bid farewell to a number of landmark retail shops? <\/strong>Kuwaiti retailconglomerate <a target=\"_blank\" href=\"https:\/\/www.alshaya.com\/en\/brands\/\" style=\"\" rel=\"noopener\">Alshaya Group<\/a>, one of the region\u2019s largest retail franchise operators, will be curtailing its business activity in Egypt on the back of FX pressure and difficult economic conditions, according to an internal note to employees seen by <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/yc3h5t9h\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>Some of the company\u2019s franchises will be gradually exiting the local market and eventually completely shut their doors, while others will decrease operations. British department store <strong>Debenhams<\/strong> will be the first to leave Egypt, according to an unnamed retail official cited by the news outlet. All of the store\u2019s physical branches as well as its e-commerce website will no longer be operational by the end of February. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Body Shop, Mothercare, and Pinkberry<\/strong> are all set to follow suit. A note obtained by Enterprise lists Mothercare, Debenhams, Pinkberry, and Claire\u2019s as being impacted. Other brands including <strong>H&M, Victoria's Secret, American Eagle, and Bath & Body Works<\/strong> will remain present in the market, but at a smaller scale, the source added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>The group will shut some 60 of its shops across the country and lay off 375 employees in the process, says Al Arabiya\u2019s economics editor, Obada Alladan (<a target=\"_blank\" href=\"https:\/\/twitter.com\/AlArabiya_Bn\/status\/1747653759365267468\" style=\"\" rel=\"noopener\">watch, runtime: 3:43<\/a>), while the note we have seen puts the figure at 450. Following its downsizing plans, the group will have around 100 shops operating in Egypt, 80% of which will be Starbucks branches, he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alshaya doesn\u2019t want to leave: <\/strong>\u201cThe group wants to stay present in the Egyptian market, thisis certain \u2026 The group wants to wait until economic conditions improve,\u201d Alladan said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The why? <\/strong>Alshaya cited the \u201ceconomic situation over the last three years,\u201d as well as aweakening EGP, exchange rate pressures, and soaring inflation for its decision to downsize. The company also faced \u201cdifficulty moving hard currency out of Egypt,\u201d Alladan said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not final? <\/strong>One of the country\u2019s shopping mall operators is in negotiations with the group inhopes of having it rethink its decision, an unnamed official told Asharq.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alshaya-group\/\">Alshaya Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/retail\/\">retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613651\" 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=\"613651\">\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\">Telecoms<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/telecom-egypt-receives-the-first-5g-license-in-the-country\/\">\r\n                            Telecom Egypt receives the first 5G license in the country                        <\/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\/18\/telecom-egypt-receives-the-first-5g-license-in-the-country\/\" 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\/18\/telecom-egypt-receives-the-first-5g-license-in-the-country\/')\">\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\/18\/telecom-egypt-receives-the-first-5g-license-in-the-country\/\">\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=Telecom Egypt receives the first 5G license in the country&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/telecom-egypt-receives-the-first-5g-license-in-the-country\/\">\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\/18\/telecom-egypt-receives-the-first-5g-license-in-the-country\/&title=Telecom Egypt receives the first 5G license in the country\">\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=Telecom+Egypt+receives+the+first+5G+license+in+the+country+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F18%2Ftelecom-egypt-receives-the-first-5g-license-in-the-country%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\/18\/telecom-egypt-receives-the-first-5g-license-in-the-country\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1522.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613652\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/telecom-egypt-receives-the-first-5g-license-in-the-country\/1522-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1522.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1522.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1522.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1522.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613651\" class=\"content-area-description single-story post-613651 post type-post status-publish format-standard has-post-thumbnail hentry category-telecoms tag-5g tag-enterpriseam tag-national-telecom-regulatory-authority tag-telecom-egypt tag-telecoms 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\/.e27104db-1d8a-4521-b2da-219da0fd1c25.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>We\u2019re catching up with our 5G ambitions: <\/strong>The National Telecommunications Regulatory Authority (NTRA) has given the majority state-owned Telecom Egypt the country\u2019s first license to install and operate fifth generation (5G) networks at a cost of USD 150 mn, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/1518.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> yesterday. The 15-year license will not get an auto-renewal and does not come with additional concessions, according to a <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/2c6zvuzj\" style=\"\" rel=\"noopener\">cabinet statement<\/a> out the same day. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We expected something slightly different:<\/strong> While it first came to light in October that the NTRA could put <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/514bc006-091d-4464-b7f4-5226fcd13ba2\" style=\"\" rel=\"noopener\">5G licenses up for grabs<\/a> by December of last year or early this year, it was reported that it would do so through a tender. It was also reported that the licenses will begin at some USD 500 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>5G can deliver speeds up to 100x faster than 4G with ultra-low latency that could allow everything from remote surgeries to super-fast downloads and a \u201ctrue\u201d internet of things. It\u2019s slowly rolling out in developed markets, and when it works (and it\u2019s not chewing up your battery), it will be a game changer.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have the capacity for it:<\/strong> All mobile network operators already have the bandwidths needed to run 5G networks, a Communications Ministry source <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2281de87-4596-4f27-8f8b-499b9f4d571b\" style=\"\" rel=\"noopener\">told Enterprise<\/a> in July. However, the technology\u2019s accessibility and efficiency will largely depend on how much telecom providers are willing to pay and how they will price the service to customers, former Communications Minister Khaled Negm <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/514bc006-091d-4464-b7f4-5226fcd13ba2\" style=\"\" rel=\"noopener\">told us<\/a> back in October.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/5g\/\">5G<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-telecom-regulatory-authority\/\">National Telecom Regulatory Authority<\/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\/telecoms\/\">TELECOMS<\/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=\"613653\" 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=\"613653\">\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\">FINANCIAL SERVICES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/local-leasing-firms-ink-sale-and-leaseback-agreement-with-ehcs-for-capitalmed-project\/\">\r\n                            Egyptian leasing firms ink EGP 600 mn sale and leaseback agreement with EHCS for CapitalMed project                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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-->\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\/18\/local-leasing-firms-ink-sale-and-leaseback-agreement-with-ehcs-for-capitalmed-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1459.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613654\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/local-leasing-firms-ink-sale-and-leaseback-agreement-with-ehcs-for-capitalmed-project\/1459-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1459.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1459.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1459.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1459.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613653\" class=\"content-area-description single-story post-613653 post type-post status-publish format-standard has-post-thumbnail hentry category-financial-services tag-beltone-financial tag-capitalmed tag-egyptians-for-health-care-services-ehcs tag-enterpriseam tag-financial-services tag-healthcare 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\/.101ec0d2-37ce-4133-ac6a-b10d9e93e535.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Local leasing firms team up for sale and leaseback agreement with CapitalMed:<\/strong>Beltone Financial subsidiary Beltone Leasing, Banque du Caire\u2019s <a target=\"_blank\" href=\"https:\/\/clc.com.eg\/\" style=\"\" rel=\"noopener\">Cairo Leasing Corporation<\/a>, and El Sewedy Group\u2019s <a target=\"_blank\" href=\"https:\/\/easyleaseegypt.com\/\" style=\"\" rel=\"noopener\">Easy Lease<\/a> have inked a EGP 600 mn sale and leaseback agreement with <a target=\"_blank\" href=\"https:\/\/ehcs.com.eg\/\" style=\"\" rel=\"noopener\">Egyptians for Healthcare Services<\/a> (EHCS), Beltone said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/1419.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>.<\/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 funds will help EHCS finance the remaining costs of the service building in the first phase of the CapitalMed medical complex in Badr City. The agreement will see EHSC maintain operational control of the project. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s hasn\u2019t all been good news for EHCS this week : <\/strong>UAE-based district cooling firm <a target=\"_blank\" href=\"https:\/\/www.tabreed.ae\/ar\/\" style=\"\" rel=\"noopener\">Tabreed<\/a>, which was contracted to design, build, and operate a heating and cooling plant for CapitalMed in 2022, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7d0aa0a4-a8bb-44bf-af9b-b204c94a7641\" style=\"\" rel=\"noopener\">terminated its contract with EHCS<\/a> last week as the FX crisis had rendered the project \u201cfinancially unsustainable.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CapitalMed? <\/strong>The EGP 18 bn medical complex <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3053d272-9665-4c15-a6ba-ed305a45f5cd\" style=\"\" rel=\"noopener\">aims to serve<\/a> as many as 20 mn people andincludes a general hospital and 19 specialist centers. Construction for the first of four phases of the project began in 2022, with all phases set to be completed within 10-12 years after breaking ground on the project.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone-financial\/\">Beltone Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capitalmed\/\">CapitalMed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptians-for-health-care-services-ehcs\/\">Egyptians for Health Care Services (EHCS)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613655 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=\"613655\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/613655\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613655\" class=\"content-area-description single-story post-613655 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.youtube.com\/watch?v=3ChYen8BLYE\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1460.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613656\" 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=\"613656\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/egyptian-uk-fintech-player-zeal-raises-usd-4-mn-to-scale-up\/\">\r\n                            Egyptian-UK fintech player Zeal secures USD 4 mn to fund expansion                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/egyptian-uk-fintech-player-zeal-raises-usd-4-mn-to-scale-up\/&title=Egyptian-UK fintech player Zeal raises USD 4 mn to scale up\">\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=Egyptian-UK+fintech+player+Zeal+raises+USD+4+mn+to+scale+up+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F18%2Fegyptian-uk-fintech-player-zeal-raises-usd-4-mn-to-scale-up%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\/18\/egyptian-uk-fintech-player-zeal-raises-usd-4-mn-to-scale-up\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1441.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613657\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/egyptian-uk-fintech-player-zeal-raises-usd-4-mn-to-scale-up\/1441-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1441.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1441.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1441.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1441.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613656\" class=\"content-area-description single-story post-613656 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam tag-fintech tag-retail tag-startup-watch tag-zealpay 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\/.fee447b8-ce23-45e0-82a6-3a0b3cb2d324.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Fresh funds for Zeal: <\/strong>Egyptian-UK fintech player <a target=\"_blank\" href=\"https:\/\/www.zealpay.app\/\" style=\"\" rel=\"noopener\">Zeal<\/a> has raised some USD 4 mn in afunding round led by MENA-focused <a target=\"_blank\" href=\"https:\/\/raed.vc\/\" style=\"\" rel=\"noopener\">Raed Ventures<\/a> and London-based <a target=\"_blank\" href=\"https:\/\/cur8.capital\/\" style=\"\" rel=\"noopener\">Cur8 Capital<\/a>, as well as a number of strategic angel investors, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/1422.pdf\" style=\"\" rel=\"noopener\">statement<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/1422.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Zeal? <\/strong>Founded in 2019 by Omar Ebeid (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ebeidomar?originalSubdomain=uk\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) and Bellal Mohamed (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/bellal-mohamed\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) in London, the startup \u2014 headquartered in London with its operations office set up in Egypt \u2014 offers brands a variety of tech solutions for payments and AI-generated insights on consumer behavior. Its flagship product, the SmartPOS Plugin, allows credit card machines \u201cto identify, segment, and retarget in-store customers, transforming the way physical retailers engage with and retain their clientele.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** We spoke to Ebeid about all things Zeal <\/strong>back in 2022 for our <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/577fe05d-2e81-46b4-8317-8a26b90704b4\" style=\"\" rel=\"noopener\">founder of the week column<\/a>. <\/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 funds will help Zeal utilize AI, expand its portfolio, and help itfacilitate the process of integrating with point of sale terminals. The team also has plans \u201cto build advanced data and analytics solutions for fast-moving consumer goods companies (FMCGs) and telecom sectors,\u201d the statement added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expansion is also on the cards: <\/strong>Zeal wants to expand its reach across Europe, the MiddleEast, and Africa, with an eye on Cyprus, Greece, Saudi Arabia, and the UAE, specifically, Zeal\u2019s head of marketing Mohamed Fawzi told Enterprise. The funds raised will help it carry out those plans.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/retail\/\">retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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\/zealpay\/\">Zealpay<\/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=\"613658\" 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=\"613658\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">RED SEA WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/global-manufacturers-look-to-air-freight-amid-attacks-in-the-red-sea-in-another-blow-to-shipping\/\">\r\n                            Global manufacturers look to air freight amid attacks in the Red Sea in another blow to shipping                        <\/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\/18\/global-manufacturers-look-to-air-freight-amid-attacks-in-the-red-sea-in-another-blow-to-shipping\/\" 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\/18\/global-manufacturers-look-to-air-freight-amid-attacks-in-the-red-sea-in-another-blow-to-shipping\/')\">\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\/18\/global-manufacturers-look-to-air-freight-amid-attacks-in-the-red-sea-in-another-blow-to-shipping\/\">\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=Global manufacturers look to air freight amid attacks in the Red Sea in another blow to shipping&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/global-manufacturers-look-to-air-freight-amid-attacks-in-the-red-sea-in-another-blow-to-shipping\/\">\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\/18\/global-manufacturers-look-to-air-freight-amid-attacks-in-the-red-sea-in-another-blow-to-shipping\/&title=Global manufacturers look to air freight amid attacks in the Red Sea in another blow to shipping\">\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=Global+manufacturers+look+to+air+freight+amid+attacks+in+the+Red+Sea+in+another+blow+to+shipping+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F18%2Fglobal-manufacturers-look-to-air-freight-amid-attacks-in-the-red-sea-in-another-blow-to-shipping%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\/18\/global-manufacturers-look-to-air-freight-amid-attacks-in-the-red-sea-in-another-blow-to-shipping\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1535.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613659\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/global-manufacturers-look-to-air-freight-amid-attacks-in-the-red-sea-in-another-blow-to-shipping\/1535-jpeg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1535.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1535.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1535.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1535.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613658\" class=\"content-area-description single-story post-613658 post type-post status-publish format-standard has-post-thumbnail hentry category-red-sea-watch tag-enterpriseam tag-logistics tag-middle-east-politics 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\/.9f580b15-758a-4e68-807b-cd2bbdca5bcf.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Cargo flights are filling up as Red Sea disruptions continue: <\/strong>Air freight prices for China-Europe routes jumped 91% week-on-week on Sunday as manufacturers opted for ways to get their products to market as Yemen\u2019s Houthi rebels continue to target commercial vessels traversing the Red Sea, writes <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/freighters-seek-air-cargo-back-up-amid-red-sea-shipping-crisis-2024-01-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a>, citing data from freight booker Freightos. As risks and costs of sea transport increase more producers are expected to look to air freight to avoid backlogs. \"The first thing you're going to see convert is shippers that do 20% air 80% ocean for the same product, go to 50:50,\" digital freight forwarder Flexport said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shipping companies expect the disruptions to last for weeks \u2014 or even months:<\/strong> CEOs of shipping giants at the World Economic Forum voiced downbeat sentiments about the disruptions to come. \u201cFor us, this will mean longer transit times and probably disruption of supply chains for a few months at least,\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-17\/cargo-ceos-see-no-short-term-end-to-red-sea-shipping-disruptions?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> quotes AP Moller-Maersk CEO Vincent Clerc as saying. Meanwhile, DHL Group CEO Tobias Meyer said he expects product shortages to emerge in around two weeks as the rerouting of ships around South Africa's Cape of Good Hope triggers container imbalances.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And in case you thought this was all going to blow over: <\/strong>The Houthis have vowed to continue their campaign until Israel ends its war on Gaza \u2014 and they seem to be keeping to their promise and have remained undeterred in face of US and UK strikes on their positions.Iranian Foreign Minister Hossein Amir Abdollahian also <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/davos-iran-says-it-shared-intelligence-mossad-with-iraq-2024-01-17\/\" style=\"\" rel=\"noopener\">said<\/a> at Davos yesterday that \u201cThe security of the Red Sea is tied to the developments in Gaza, and everyone will suffer if Israel's crimes in Gaza do not stop ... All the (resistance) fronts will remain active\u201d.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"613660 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=\"613660\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/613660\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613660\" class=\"content-area-description single-story post-613660 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/415.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613661\" 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=\"613661\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/ethiopia-was-in-the-crosshairs-of-our-nations-talking-heads\/\">\r\n                            Ethiopia was in the crosshairs of our nation\u2019s talking heads                        <\/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\/18\/ethiopia-was-in-the-crosshairs-of-our-nations-talking-heads\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Also on the agenda last night was Israel\u2019s war on Gaza, the Greek foreign minister coming to town, and the award of the country\u2019s first 5G license.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\"<\/strong><strong>Ethiopia<\/strong><strong> has become a source of unrest in its regional surroundings,\"<\/strong> and Egypt has repeatedly warned of \"the consequences of Ethiopia's unilateral policies that violate international law,\u201d Foreign Minister Sameh Shoukry said in an Arab League meeting with his counterparts in protest of Ethiopia\u2019s attempt to lease 20 km of coastline from Somaliland \u2014 an unrecognized breakaway region that separated from Somalia. Ala Masouleety\u2019s Ahmed Moussa echoed Shoukry\u2019s concerns (<a target=\"_blank\" href=\"https:\/\/www.google.com\/url?q=https:\/\/www.youtube.com\/watch?v%3Dg7K_uEg-XL4%26ab_channel%3DSadaElbalad-%25D8%25B5%25D8%25AF%25D9%2589%25D8%25A7%25D9%2584%25D8%25A8%25D9%2584%25D8%25AF&sa=D&source=editors&ust=1705555056476983&usg=AOvVaw2rq926H_coqH3GR419ZGPG\" style=\"\" rel=\"noopener\">watch, runtime: 5:17<\/a>), noting that threats to Somali security are \u201ca threat to Egyptian and Arab national security.\" Ethiopia\u2019s ambitions to have access to the Red Sea are \u201cknown to everyone,\u201d former foreign minister Mohamed El Orabi told Yahduth Fi Misr (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=394314769824573\" style=\"\" rel=\"noopener\">watch, runtime: 5:33<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe occupation's lust for murder proves there is no intention of ceasing fire\u2026 Israel is<\/strong><strong> cutting of all means of line from Gaza,\u201d<\/strong> Palestinian Authority spokesman Ibrahim Melhem said yesterday during an interview on Yahduth Fi Misr (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=321159497575404\" style=\"\" rel=\"noopener\">watch, runtime: 5:04<\/a>). Israel\u2019s war on the enclave also received in-depth coverage from Masa DMC (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1095478011635216\" style=\"\" rel=\"noopener\">watch, runtime: 8:18<\/a> | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1083914789617428\" style=\"\" rel=\"noopener\">13:36<\/a>) and Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1112180450214953\" style=\"\" rel=\"noopener\">watch, runtime: 6:22<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO ON THE AIRWAVES LAST NIGHT-<\/strong><\/p>\n<ul>\n<li><strong>Ahmed Moussa called for a stable exchange and an end to the FX crisis,<\/strong> pointing to Kuwaiti Alshaya Group\u2019s recent decision to exit several franchises in Egypt of why action is needed. (Ala Masouleety| <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=89DRn7-STjY&ab_channel=SadaElbalad-%D8%B5%D8%AF%D9%89%D8%A7%D9%84%D8%A8%D9%84%D8%AF\" style=\"\" rel=\"noopener\">watch, runtime: 4:14<\/a> | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=WMW3bkAwZxQ&ab_channel=SadaElbalad-%D8%B5%D8%AF%D9%89%D8%A7%D9%84%D8%A8%D9%84%D8%AF\" style=\"\" rel=\"noopener\">5:54<\/a>)<\/li>\n<li><strong>Granting a 5G license to Telecom Egypt <\/strong>will boost network and internet quality across all governorates, said Mohamed Ibrahim, National Telecommunications Regulatory Authority\u2019s head of market governance. (Ala Masouleety | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=XOiE7P5tTls&ab_channel=SadaElbalad-%D8%B5%D8%AF%D9%89%D8%A7%D9%84%D8%A8%D9%84%D8%AF\" style=\"\" rel=\"noopener\">watch, runtime: 7:09<\/a>) (Masa DMC | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1024016555563940\" style=\"\" rel=\"noopener\">watch, runtime: 00:39<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                      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data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613664\" 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=\"613664\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/red-sea-disruption-pressures-on-the-suez-canal-are-getting-the-attention-of-the-foreign-press\/\">\r\n                            Red Sea disruption pressures on the Suez Canal are getting the attention of the foreign press                        <\/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\/18\/red-sea-disruption-pressures-on-the-suez-canal-are-getting-the-attention-of-the-foreign-press\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1428.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613665\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/red-sea-disruption-pressures-on-the-suez-canal-are-getting-the-attention-of-the-foreign-press\/1428-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1428.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1428.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1428.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1428.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613664\" class=\"content-area-description single-story post-613664 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-enterpriseam tag-red-sea tag-suez-canal wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.bb1e56e8-973c-4802-a79e-138e97afe3aa.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s Suez Canal woes have caught the attention of the int\u2019l press:<\/strong> Houthiattacks on merchant shipping over the last two months and the US and UK\u2019s retaliatory strikes that started last week have hurt business through the Suez Canal \u2014 a vital source of FX for cash-strapped Egypt \u2014 <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-17\/red-sea-chaos-leaves-egypt-to-grapple-with-dwindling-suez-canal-revenue\" style=\"\" rel=\"noopener\">Bloomberg<\/a> wrote yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>Suez Canal revenues since the beginning of the year <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0bcf9c2f-316d-432b-8b50-decc78380161\" style=\"\" rel=\"noopener\">are down 40% y-o-y<\/a>, due to alarge number of shipping lines and oil tankers <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/517cd3d6-98df-4890-a4f1-e969043a1619\" style=\"\" rel=\"noopener\">hitting pause<\/a> on Red Sea transit after the Houthis started targeting commercial vessels..<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/red-sea\/\">Red Sea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613666\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613667\" 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=\"613667\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/tc-garments-looks-to-sell-up-to-25-of-the-company-to-foreign-investors-plus-tanmeyah-micro-ins-cib-housing-initiative-aton-gold-exploration-lease-cabinet-news-new-development-bank\/\">\r\n                            T&amp;C Garments looks to sell up to 25% of the company to foreign investors. PLUS: Tanmeyah micro ins., CIB housing initiative, Aton gold exploration lease, cabinet news, New Development Bank                        <\/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\/18\/tc-garments-looks-to-sell-up-to-25-of-the-company-to-foreign-investors-plus-tanmeyah-micro-ins-cib-housing-initiative-aton-gold-exploration-lease-cabinet-news-new-development-bank\/\" 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\/18\/tc-garments-looks-to-sell-up-to-25-of-the-company-to-foreign-investors-plus-tanmeyah-micro-ins-cib-housing-initiative-aton-gold-exploration-lease-cabinet-news-new-development-bank\/')\">\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\/18\/tc-garments-looks-to-sell-up-to-25-of-the-company-to-foreign-investors-plus-tanmeyah-micro-ins-cib-housing-initiative-aton-gold-exploration-lease-cabinet-news-new-development-bank\/\">\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=T&#038;C Garments looks to sell up to 25% of the company to foreign investors. PLUS: Tanmeyah micro ins., CIB housing initiative, Aton gold exploration lease, cabinet news, New Development Bank&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/tc-garments-looks-to-sell-up-to-25-of-the-company-to-foreign-investors-plus-tanmeyah-micro-ins-cib-housing-initiative-aton-gold-exploration-lease-cabinet-news-new-development-bank\/\">\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\/18\/tc-garments-looks-to-sell-up-to-25-of-the-company-to-foreign-investors-plus-tanmeyah-micro-ins-cib-housing-initiative-aton-gold-exploration-lease-cabinet-news-new-development-bank\/&title=T&#038;C Garments looks to sell up to 25% of the company to foreign investors. PLUS: Tanmeyah micro ins., CIB housing initiative, Aton gold exploration lease, cabinet news, New Development Bank\">\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=T%26%23038%3BC+Garments+looks+to+sell+up+to+25%25+of+the+company+to+foreign+investors.+PLUS%3A+Tanmeyah+micro+ins.%2C+CIB+housing+initiative%2C+Aton+gold+exploration+lease%2C+cabinet+news%2C+New+Development+Bank+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F18%2Ftc-garments-looks-to-sell-up-to-25-of-the-company-to-foreign-investors-plus-tanmeyah-micro-ins-cib-housing-initiative-aton-gold-exploration-lease-cabinet-news-new-development-bank%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\/18\/tc-garments-looks-to-sell-up-to-25-of-the-company-to-foreign-investors-plus-tanmeyah-micro-ins-cib-housing-initiative-aton-gold-exploration-lease-cabinet-news-new-development-bank\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1542.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613668\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/tc-garments-looks-to-sell-up-to-25-of-the-company-to-foreign-investors-plus-tanmeyah-micro-ins-cib-housing-initiative-aton-gold-exploration-lease-cabinet-news-new-development-bank\/1542-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1542.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1542.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1542.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1542.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613667\" class=\"content-area-description single-story post-613667 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-akh-gold tag-also-on-our-radar tag-aton-resources tag-brics tag-cib tag-commodities tag-efg-holding tag-energy tag-enterpriseam tag-gasc tag-insurance tag-ma-watch tag-microfinance tag-mining tag-real-estate tag-tanmeyah tag-textiles tag-wheat 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\/.7c81509b-9840-45ae-9a9b-c2a51e0a8215.mp3\"><\/audio><\/figure>\n<p class=\"tag-border-left\">M&A- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>T&C plans to offload up to 25% of the company to foreign investors: <\/strong>Clothingmanufacturer <a target=\"_blank\" href=\"https:\/\/tcgarments.com\/\" style=\"\" rel=\"noopener\">T&C Garments<\/a> plans to offer 20-25% of the company\u2019s shares to foreign investment funds during 2H 2024, after the company completes its expansion plans, which involves ramping up production capacities, T&C chairman Magdy Tolba told <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/3298sra3\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>.<\/p>\n<p class=\"tag-border-left\">MICROFINANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tanmeyah to offer micro ins.<\/strong><strong> products:<\/strong> EFG Holding\u2019s microfinance arm <a target=\"_blank\" href=\"https:\/\/tanmeyah.com\/\" style=\"\" rel=\"noopener\">Tanmeyah<\/a> has teamed up with the <a target=\"_blank\" href=\"https:\/\/www.gig.com.eg\/\" style=\"\" rel=\"noopener\">Egyptian arm<\/a> of the <a target=\"_blank\" href=\"https:\/\/www.gulfinsgroup.com\/en\/\" style=\"\" rel=\"noopener\">Gulf Ins. Group (GIG)<\/a> to roll out new micro-ins. products, according to a joint <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/1479.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The new range of products includes coverage for personal accidents, medical treatment, housing, businesses, roadside assistance, and other unforeseen events and assets. Tanmeyah has already received regulatory approvals from the Financial Regulatory Authority (FRA) for the new offerings.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CIB earmarks EGP 3 bn for housing initiative:<\/strong> CIB has signed an agreement with the Housing Ministry\u2019s Social Housing and Mortgage Finance Fund to provide EGP 3 bn in financing to support the fund\u2019s initiative to give out loans to low- and middle-income home buyers at 3%, 7%, and 8% interest rates, according to statements from the two (<a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/1520.pdf\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/SHMFFEG\/posts\/pfbid02ecDT8aDmatM62R6b5dyLqDWpHEfrXdvMid7rHsRsGkqSSWKRDw6awXnMLkVTLueAl\" style=\"\" rel=\"noopener\">here<\/a>). This will bring CIB\u2019s mortgage finance loans allocated to the initiative to a total of EGP 7 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MINING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Canadian gold miner <\/strong><strong><a target=\"_blank\" href=\"https:\/\/atonresources.com\/\" style=\"\" rel=\"noopener\">Aton Resources<\/a><\/strong><strong> signed an exploitation lease with the<\/strong><strong> Egyptian Mineral Resources Authority (EMRA)<\/strong> for gold and other minerals in <a target=\"_blank\" href=\"https:\/\/atonresources.com\/projects\/abu-marawat-concession\/overview\/\" style=\"\" rel=\"noopener\">Abu Marawat<\/a> region in the Eastern Desert, after the company made discoveries at its <a target=\"_blank\" href=\"https:\/\/atonresources.com\/projects\/abu-marawat-concession\/overview\/\" style=\"\" rel=\"noopener\">Abu Marawat concession\u2019s<\/a> Hamama and Rodruin deposits, according to a <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/bdexw9e8\" style=\"\" rel=\"noopener\">statement<\/a> from the Oil Ministry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO: UK-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.akhgold.com\/\" style=\"\" rel=\"noopener\">Akh Gold<\/a><\/strong><strong>, a subsidiary of Naguib Sawiris-backed Altus Strategies,<\/strong><strong>Inked an exploration agreement with the EMRA<\/strong> for a 350 sq. km in the Eastern Desert.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Aton reportedly plans to extract gold from its Abu Marawat concession in theEastern Desert <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5f33dc20-4e98-4a48-a5d0-fcad4573967e\" style=\"\" rel=\"noopener\">by 2025<\/a> and Akh Gold recently began <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8516b283-823f-42a9-81fc-0eb10db24f36\" style=\"\" rel=\"noopener\">looking for gold<\/a> in Wadi Dubur under the exploration licenses the company secured in 2021.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CABINET- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cabinet scraps <\/strong><strong>property tax<\/strong><strong> for livestock farming + extends free<\/strong><strong>transit<\/strong><strong> visa scheme:<\/strong> The cabinet agreed yesterday to extend the exemption of livestock farming from paying property tax for two more years until December 2026, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0d8hqs7AQ77FRcU8gDX1PmpFvB1AgtATJ7DqTpaUovcT114KRo6ZnycWgEsbDkz8il\" style=\"\" rel=\"noopener\">cabinet readout<\/a>. The cabinet also extended the validity of free transit visas issued to tourists until April 2024.<\/p>\n<p class=\"tag-border-left\">ENERGY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BRICS\u2019 New Development Bank eyes electricity investments in Egypt: <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.ndb.int\/\" style=\"\" rel=\"noopener\">New<\/a><a target=\"_blank\" href=\"https:\/\/www.ndb.int\/\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.ndb.int\/\" style=\"\" rel=\"noopener\">Development Bank<\/a> (NDB) \u2014 which Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7b8e96b-ec30-4ce0-9344-4f250f112875\" style=\"\" rel=\"noopener\">joined<\/a> in April \u2014 plans to ramp up its investments in Egypt\u2019s electricity and renewable energy sectors, the bank\u2019s VP and COO Vladimir Kazbekov said during a meeting with Electricity Minister Mohamed Shaker. (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/853576503479438\/\" style=\"\" rel=\"noopener\">Electricity Ministry statement)<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">COMMODITIES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Russian and French wheat inbound: <\/strong>State grain buyer GASC has purchased 360k of wheat from Russia and France in its latest tender (<a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/01\/17\/1757358\" style=\"\" rel=\"noopener\">Al Borsa<\/a>)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/akh-gold\/\">AKH Gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aton-resources\/\">Aton Resources<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/brics\/\">BRICS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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           <!-- <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\/tanmeyah\/\">Tanmeyah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/textiles\/\">textiles<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/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=\"613669\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"613669\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/investors-pour-usd-900-mn-into-btc-etfs-in-three-days\/\">\r\n                            Investors pour USD 900 mn into BTC ETFs in three days                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div 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         <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/investors-pour-usd-900-mn-into-btc-etfs-in-three-days\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/bitcoin-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613670\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/investors-pour-usd-900-mn-into-btc-etfs-in-three-days\/bitcoin-1600px-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/bitcoin-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"bitcoin-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/bitcoin-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/bitcoin-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613669\" class=\"content-area-description single-story post-613669 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-cryptocurrency tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.984ae110-a3c4-4599-84bb-5f85f1afdd14.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Crypto game heats up: <\/strong>BTC ETFs raked in almost USD 900 mn in net inflows in just three days of trading after the US Securities and Exchange Commission greenlit the funds last week, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/07ae8c61-4ba0-4364-b6be-2765f007a093\" style=\"\" rel=\"noopener\">Financial Times<\/a> reported yesterday. Investment manager giant BlackRock led the pack with USD 723 mn in inflows, while crypto asset manager Grayscale saw outflows totalling USD 1.2 bn of outflows after it turned its BTC fund into an ETF and investors left for new funds with less fees.<\/p><p><a target=\"_blank\" id=\"t.d86b6b9177e4bdb666adad93d1eba875e064c945\" 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-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>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\">26,758<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +7.5%)<\/p>\n<\/td>\n<\/tr>\n<tr style=\"\">\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:50.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Non<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.83<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.96<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.85<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.95<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,063<\/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: +0.8%)<\/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>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\">9,724<\/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: +1.5%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,091<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +0.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,739<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: -0.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">7,446<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.5% (YTD: -3.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,403<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.0% (YTD: -2.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 78.01<\/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-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.87<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,008.80<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 42,623.60<\/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\">-1.8% (YTD: +1.0%)<\/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 fell 0.7% at yesterday\u2019s close<\/strong> on turnover of EGP 6.1 bn (106% above the 90-day average). Egyptian investors were net sellers. The index is up 7.5% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Sidi Kerir Petrochemicals(+4.3%), Orascom Construction (+2.9%), and e-finance (+2.3%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Beltone Holding (-2.7%), Fawry (-2.4%), and Palm Hills Development (-2.4%).<\/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\/cryptocurrency\/\">cryptocurrency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613671\" 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=\"613671\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/18\/my-morning-routine-doaa-aref-ceo-and-co-founder-of-chefaa\/\">\r\n                            My Morning Routine: Doaa Aref, CEO and co-founder of Chefaa                        <\/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\/18\/my-morning-routine-doaa-aref-ceo-and-co-founder-of-chefaa\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Speaking to us this week is Doaa Aref (<a target=\"_blank\" href=\"https:\/\/sa.linkedin.com\/in\/idoaaaref\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), CEO and co-founder of pharma delivery platform <a target=\"_blank\" href=\"https:\/\/chefaa.com\/eg-en\/now\" style=\"\" rel=\"noopener\">Chefaa<\/a>. Edited excerpts from our conversation:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019m 37 years old and I consider myself a businesswoman<\/strong>, not an entrepreneur. The wordentrepreneurship implies that what I do has an element of innovation \u2014 doing something that\u2019s never been done before. What I did was take a service that already existed in some form offline and took it online.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I was Chefaa\u2019s patient zero. <\/strong>In 2017, I was diagnosed with thyroid cancer and had to gothrough surgery to remove the cancer and do chemotherapy sessions after that. This completely changed my lifestyle \u2014 how I ate, the medication I took, and much more. I also got to talk to many other cancer patients and learned about all the challenges they faced \u2014 finding the drugs they need, sticking to this new lifestyle that comes with the illness, and managing their condition. Then, I started visualizing the solutions to these challenges \u2014 a unified application to help out cancer patients and others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tens of mns of <\/strong><strong>Egyptians are struggling with chronic diseases<\/strong>and those who aren\u2019t areprobably living with someone who is. Such patients do not have the luxury to dispense medication or make major changes to their routines to accommodate their illness. This is where Chefaa comes in \u2014 a patient-centric pharma service for those living with chronic diseases and conditions. Through our application, patients have access to pharma products that may not be available in their immediate vicinity and they can receive advice from licensed pharmacists. The application also has a reminder service that helps patients stay on top of their medication schedules.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019m a morning person, but I\u2019m not part of the 5am club.<\/strong> I wake up at 8am and start my daywith a simple routine of personal care and prayer, and after that I get to my emails. First, I read through all the lengthy emails, like newsletters \u2014 including Enterprise \u2014 and then I identify all the tasks I can delegate and I delegate them. That way, when I start working at 10am, I have a clear to-do list with three major items that I have to complete by the end of the day. I might end up doing more, but if those are done, I\u2019ll be satisfied.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When it comes to my responsibilities, I break them down into three main pillars:<\/strong> First ofall, there\u2019s the day-to-day stuff \u2014 the work emails and the meetings. For a startup, that very often entails putting out fires, because the scene is rarely stable. Second, comes all things investment, be it keeping current investors up-to-date on our activities or maintaining open channels with potential investors. Finally, I have to always keep up with all things pharma. I need to always be in the loop and know all the new trends and current market needs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My work is my life, but I still manage a work-life balance.<\/strong> I\u2019m very serious about not workingovertime. I know from experience that if I work more than nine hours a day, I will not be as productive the next day. By working in bursts of 50 minutes, followed by 10-minute breaks and using Notion as my second brain, I stay organized throughout the day and get my tasks done on time. That being said, when I\u2019m not working, I often switch off by doing activities that don't relate to the core responsibilities of my job, but help me grow professionally. I also love spending time with my dog and two cats after I wrap up work.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I live by the 10-3-2-1 rule<\/strong>, which means that 10 hours before I go to bed I don\u2019t consume anycaffeine, three hours before I don\u2019t eat anything, two hours before I don\u2019t expose myself to any digital screens, and one hour before bed, I don\u2019t allow for any distractions. That way, I always fall into deep sleep right away and wake up the next day fully charged, ready to take on the next battle.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I always advocate for reading as much as you can.<\/strong> The two constants that never leave mydaily schedule are praying and reading \u2014 the keys to growing spiritually and intellectually. The books I mainly gravitate towards are those that teach me about business.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>YouTube is my social media platform of choice<\/strong> and I always dedicate a chunk of my time to watching videos that provide me with tips and tricks on how to be more productive and how to work smarter, not harder. I think of myself as a lazy person and I firmly believe that it\u2019s the lazy people who figure out the quickest way to get things done.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I love learning about business from television.<\/strong> I just finished Netflix\u2019s Inside Bill\u2019s Brain:Decoding Bill Gates, and I\u2019ve watched the show Silicon Valley several times. Sometimes I feel like the region is a bit delayed when it comes to business trends, so watching this show felt like I was peeking into the future. And even though this one\u2019s a comedy, I feel like The Office gives interesting insight into office dynamics in a way I really enjoy. I also recommend Marcus Lemonis\u2019 The Profit, which taught me how to accept advice from a mentor. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/chefaa\/\">Chefaa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/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=\"613673\" 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\/18\/613673\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613673\" class=\"content-area-description single-story post-613673 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;\">22 January (Monday): The British Egyptian Business Association\u2019s briefing Cyber Security: How to Mitigate the Growing Digital Risks and Hazards, Conrad Cairo Hotel.<\/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=\"font-weight:400;\">(national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 January (Tuesday): The IMF\u2019s World Economic Outlook report <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.imf.org\/en\/Publications\/WEO\/Issues\/2024\/01\/30\/world-economic-outlook-update-january-2024\" style=\"\">due<\/a><\/span><span> to be published.<\/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\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>Telecom Egypt 5G license | Zeal funding | Shoukry talks tough | Smaller deval than expected?<\/p>\n","protected":false},"featured_media":613645,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-613644","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"22b87fc6-0d6c-455a-a338-8b3a82cc0751","teaser":"Telecom Egypt 5G license | Zeal funding | Shoukry talks tough | Smaller deval than expected?","photo_url":"https:\/\/ent.news\/2024\/1\/1544.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Kuwaiti retail giant Alshaya Group to downsize Egypt operations? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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