{"id":613910,"date":"2024-01-23T00:00:00","date_gmt":"2024-01-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=613910"},"modified":"2025-12-17T03:23:59","modified_gmt":"2025-12-17T03:23:59","slug":"afcon-hopes-alive-as-egypt-makes-it-through-to-the-last-16","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/afcon-hopes-alive-as-egypt-makes-it-through-to-the-last-16\/","title":{"rendered":"Afcon hopes alive as Egypt makes it through to the last 16"},"content":{"rendered":"<section id=\"613912\" 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=\"613912\">\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\/23\/shoukry-in-brussels\/\">\r\n                            Shoukry in Brussels                        <\/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\/23\/shoukry-in-brussels\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n            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style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.04264837-f15a-4de1-820d-a7e834a04fdf.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people. <\/strong>There\u2019s good news today for football fans, as Egypt has secured a place in Afcon\u2019s round of 16 after a thrilling 2-2 draw with Cape Verde last night. And there\u2019s also plenty of exciting economy, business, and finance news that we\u2019ve got for you today.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve got a pretty jam-packed issue today<\/strong>, so let\u2019s jump into it.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PSA- Just two more work days to go until the long weekend: <\/strong>In case no one\u2019s told you, the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/014c53a3-2c39-4722-8b67-075108d984a4\" style=\"\" rel=\"noopener\">public and private sectors<\/a>, along with the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/31152cb4-e11c-4655-b1c5-39faf2fe830b\" style=\"\" rel=\"noopener\">banks<\/a> will be off this Thursday in observance of Police Day and the 25 January revolution.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** EnterpriseAM Egypt will also take a break from your inbox this Thursday, <\/strong>but we will be back bright and early on Sunday with all the business and finance news from the long weekend.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/ksaform.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/152.jpg?ssl=1\"><\/a> <\/p><p class=\"tag-border-left\">THE BIG STORY HERE AT HOME- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>Standard Chartered receives license to set up shop in Egypt:<\/strong> The Central Bank ofEgypt (CBE) has approved British multinational lender Standard Chartered\u2019s request for a license to set up a branch in the country, according to a decision published in the Official Gazette yesterday. The lender, which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4cad248a-f473-48cc-8ef5-12e456c2f98d\" style=\"\" rel=\"noopener\">received its full banking license<\/a> from the CBE in November 2022, was operating in the country as a representative office \u2014 a limited form of business establishment. That makes 37 <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/1835.pdf\" style=\"\" rel=\"noopener\">banks registered (pdf)<\/a> with the CBE.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is very welcome. <\/strong>Yes, we have a lot of banks. Yes, we\u2019ve mumbled something about the need for consolidation in the past. But, the entry to Egypt of a new foreign institution is a positive signal to other investors (foreign and domestic alike) that it is worth committing capital here. And StanChart is no spendthrift: The bank has proven over the years entirely willing to cut non-core markets and was reported last year to be <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/stanchart-trimming-roles-part-cost-cuts-bloomberg-news-2023-06-08\/\" style=\"\" rel=\"noopener\">trimming<\/a> as many as 100 jobs across its footprint as it looked to cut c. USD 1.3 bn in expenses. <\/p><p class=\"tag-border-left\">WATCH THIS SPACE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What will the CBE\u2019s next move be? Possibly an<\/strong><strong> increase in the reserve requirement for banks<\/strong>, pushing it to 24%, from its current 18% in efforts to reduce the amount of cash in circulation and tamp down inflation, a number of analysts and bankers have expected in a survey conducted by <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/4mbdwn93\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The last time the central bank did this was in September 2022, when the reserve ratio <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8cbe8656-38d2-4f13-864a-26e3fccc24fa\" style=\"\" rel=\"noopener\">climbed to 18%<\/a>, from 14%. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The CBE could play all its cards: <\/strong>Some of the analysts expect the move to be accompanied by an interest rate hike, either during the bank\u2019s next Monetary Policy Committee meeting \u2014 scheduled for Thursday, 1 February \u2014 or during an unscheduled meeting. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Brush up on monetary policy<\/strong>: We ran an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0ed25f9c-e016-4fcd-8e95-3fd8f380c19d\" style=\"\" rel=\"noopener\">explainer<\/a> on the measures a central bank can take to control the money supply in a country and how this relates to inflation.<\/p><p class=\"tag-border-left\">HAPPENING TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1- The EU-Egypt Association Council will meet in Brussels: <\/strong>Foreign Minister Sameh Shoukry will lead the Egyptian delegation for the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/014c53a3-2c39-4722-8b67-075108d984a4\" style=\"\" rel=\"noopener\">meeting<\/a>, which is chaired by the EU foreign policy chief Josep Borrell. The talks are set to discuss cooperation under the Egypt-EU partnership priorities 2021-2027 framework and address \u201chuman rights, security, counter-terrorism, and migration \u2013 as well as cooperation in economic and social issues \u2013 ranging from investments to environment and energy,\u201d the EU statement adds.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We might be hoping for something more though: <\/strong>The EU has been rumored to be putting together a plan to mobilize as much as <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e025525-f961-4982-baca-d63fd8de7b85\" style=\"\" rel=\"noopener\">EUR 10 bn of investment<\/a> alongside debt relief measures to help stabilize the economy and curb migration across the Mediterranean. However, it\u2019s still unclear how much of this figure is already in the pipeline from the private sector and how much can be understood as \u201cnew\u201d money.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shoukry has already had a few busy days in Brussels: <\/strong>Shoukry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/31152cb4-e11c-4655-b1c5-39faf2fe830b\" style=\"\" rel=\"noopener\">landed in Brussels<\/a> on Sunday and has already joined his Saudi and Jordanian counterparts along with Arab League Secretary-General Ahmed Aboul Gheit to meet face-to-face with EU member states to tell them how relentless deliberate Israeli targeting of civilians and attacks on infrastructure are putting \u201cthe entire region\u201d at risk, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid0WuDrpvU65Wh72Y9DExJL9dHYyJ4HdXsMDn3PpdUtTqoqvzfYW3jd1WZc6m4oA3Zxl\" style=\"\" rel=\"noopener\">Foreign Ministry statement<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#2- Putin to attend 4th Dabaa power plant ceremony virtually:<\/strong> Russian President Vladimir Putin is joining President Abdel Fattah El Sisi today via a video call to attend the concrete pouring ceremony for the fourth reactor of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d4d04a90-0017-4542-95d3-cb69f3495dc6\" style=\"\" rel=\"noopener\">Dabaa Nuclear Power Plant<\/a> being built by the Russian state nuclear firm Rosatom, according to <a target=\"_blank\" href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/1234\/516315\/Egypt\/Foreign-Affairs\/Putin-to-virtually-attend-foundation-laying-at-Dab.aspx\" style=\"\" rel=\"noopener\">Ahram Online<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CORRECTION- We thought he was coming in person: <\/strong>We reported <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/31152cb4-e11c-4655-b1c5-39faf2fe830b\" style=\"\" rel=\"noopener\">yesterday<\/a> that the Russian president will be landing in Cairo in person to attend the ceremony, as the Kremlin spokesperson\u2019s statement we cited was not clear on how or when Putin will take part in the ceremony. The story on our website has been amended.<\/p><p class=\"tag-border-left\">CYBERSECURITY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>BEBA reminds us why its important to take cybersecurity seriously: <\/strong>Enterprise joined cybersecurity and ins. experts at the Conrad Hotel yesterday morning for the British Egyptian Business Association\u2019s (BEBA) panel discussion on how to mitigate growing digital risks in Egypt.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The key takeaways: <\/strong>The experts agreed that the nation\u2019s digital transformation comes with agreater risk of cyber attacks. \u201cWe have more startups, more e-wallets, more online banking and shopping. So the customer\u2019s life is now online,\u201d Vodafone Egypt Cybersecurity and Tech Strategy Head Samah Khamis said, adding that it\u2019s no longer about \u201cif\u201d an attack happens but rather \u201cwhen\u201d it will happen. They also pointed to the need to increase ins. awareness in Egypt and the need for authorities to do more on the regulatory front of it all \u2014 requiring companies to implement cybersecurity policies<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">DATA POINT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#1- Egypt\u2019s digital exports <\/strong><strong>brought<\/strong><strong> in USD 6.2 bn in 2023, <\/strong>up 26.5% y-o-y from 2022, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MCITEgypt\/posts\/pfbid02yVbVGk3tAsMs4hwfcmimFSt4sxWHKQhcbwSXyfZhQydJZyqSwzXnZtNYxGfKQ12Tl\" style=\"\" rel=\"noopener\">Communications Ministry statement<\/a>. The figure includes outsourcing exports \u2014 think call centers and human resource centers \u2014 which accounted for over half of the digital exports in 2023, standing at USD 3.7 bn, up 54% y-o-y, the statement added.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Egyptians brought 3.8 tons of gold from abroad in the eight months<\/strong> following the government\u2019s decision in May to allow imports of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f30100e6-6881-45e8-bcd0-54a00913effd\" style=\"\" rel=\"noopener\">up to 150 grams of gold<\/a> without any customs charges, Customs Authority head El Shahat Ghatwary told <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/2f4dt497\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. That\u2019s up 15.2% from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5eebc811-7a6e-4798-ad07-f7d9fc6192ea\" style=\"\" rel=\"noopener\">November<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> Prime Minister Moustafa Madbouly decided in November to extend zero-customs exemption for gold imports until 10 May 2024.<\/p><p class=\"tag-border-left\">WAR WATCH- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EU is cranking up pressure on Israel to accept a two-state solution,<\/strong> urging itsmember states to enforce \u201cconsequences\u201d if Prime Minister Benjamin Netenyahu continues to oppose Palestinian statehood, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6b39f7cf-f6d6-4344-b1e8-a505616423ef\" style=\"\" rel=\"noopener\">Financial Times<\/a> reported, citing a document an EU document being circulated throughout the bloc.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt debunked Israeli weapons smuggling allegations <\/strong>by senior Israeli officials in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/StateInformationService\/posts\/pfbid0hJ4YUQxvqacr6cvAcrmcq5aqnVSnWNnVPPGKatp5rYMDQPifBbYX4Thk2LX79MTkl\" style=\"\" rel=\"noopener\">statement<\/a> yesterday by State Information Service head Diaa Rashwan. Rashwan lambasted allegations that weapons are being smuggled in aid deliveries into the enclave as \u201cutter nonsense\u201d and pointed towards the state\u2019s efforts to clamp down on cross-border smuggling. \u201cThe true essence of Israel's claims is to justify its continuation of the process of collective punishment, killing, and starvation of more than two million Palestinians inside the Gaza Strip, which it has practiced for 17 years,\u201d the statement adds.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israeli forces storm Khan Younis hospital, begin siege of another, and arrest<\/strong><strong> medical staff <\/strong>during another deadly day of fighting and strikes, which residents told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israeli-tanks-cut-off-two-hospitals-new-storming-gazas-khan-younis-2024-01-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> was the most intense the south of the enclave has seen since the war began.<\/p><p class=\"tag-border-left\">MARKET WATCH- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Persisten<\/strong><strong>t<\/strong><strong>ly low gas prices in Europe may mean that our LNG export ambitions<\/strong><strong> may not be as profitable as hoped: <\/strong>Gas prices have remained low in Europe despite <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/201b49ba-41b2-4c6b-9051-5a2e1db044c7\" style=\"\" rel=\"noopener\">ongoing unrest in the Red Sea<\/a>, thanks to record high gas reserves in Europe and a reliance on renewable energy, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-21\/europe-moves-into-a-new-world-after-a-crippling-energy-crisis?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> wrote yesterday. Low gas prices in Europe would spell out smaller export receipts for Egypt as the country looks to export more liquefied natural gas (LNG). LNG exports \u2014 which hold potential as a much-needed source of FX for cash-strapped Egypt, but have been on pause for over half a year \u2014 are <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/92d64315-b5aa-4c9c-8409-26fbcabc9029\" style=\"\" rel=\"noopener\">set to resume<\/a> this month with a target of 1 bn cubic feet of gas per day. <\/p><p class=\"tag-border-left\">THE BIG STORIES ABROAD-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- US and British forces launched another round of attacks last night against Houthi <\/strong><strong>targets in Yemen<\/strong>, hitting what they said were the Tehran-backed group\u2019s missile capabilities as well as underground storage sites. The two struck eight sites, with unspecified support from Australia, Bahrain, Canada, and the Netherlands. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s the second major strike <\/strong>aimed at stopping Houthi attacks on Red Sea shipping. The story is leading the front pages of the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/u-s-launches-major-strike-on-houthi-sites-in-yemen-a35bbda2?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> and <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/us-british-forces-carry-out-new-strikes-yemen-officials-2024-01-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. It\u2019s also getting plenty of ink from others including the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/51d3f2d6-a460-4a04-b0d6-2749f9f46f4f\" style=\"\" rel=\"noopener\">Financial Times<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/01\/22\/us\/politics\/houthi-yemen-strikes.html\" style=\"\" rel=\"noopener\">New York Times<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- It\u2019s a big day in US politics as voters in New Hampshire head to the polls in a primary <\/strong>that the media are almost uniformly positioning as challenger Nikki Haley\u2019s last chance to stop Donald Trump from cruising to the Republican nomination. Trump foe Ron Desantis has already dropped out of the race.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh, Enterprise? Isn\u2019t this the first primary? <\/strong>It is, <a target=\"_blank\" href=\"https:\/\/www.cbsnews.com\/news\/new-hampshire-primary-what-to-know-donald-trump-nikki-haley-ron-desantis\/\" style=\"\" rel=\"noopener\">for the GOP, at least<\/a>. Haley is hoping to upset Trump, <a target=\"_blank\" href=\"https:\/\/www.politico.com\/live-updates\/2024\/01\/22\/new-hampshire-primary-2024\/new-hampshire-primary-polls-00136924\" style=\"\" rel=\"noopener\">who has a commanding lead in the polls<\/a>, and US and UK media seem convinced that it\u2019s all over for the former UN ambassador and South Carolina governor if she doesn\u2019t beat him tonight. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Need more? <\/strong>Head over to Politico (<a target=\"_blank\" href=\"https:\/\/www.politico.com\/live-updates\/2024\/01\/22\/new-hampshire-primary-2024\/new-hampshire-primary-questions-00136953\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2024\/01\/22\/nikki-haley-gender-gop-trump-00137060\" style=\"\" rel=\"noopener\">here<\/a>), the <a target=\"_blank\" href=\"https:\/\/apnews.com\/live\/%20new-hampshire-primary-results-updates\" style=\"\" rel=\"noopener\">Associated Press<\/a>, <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2024\/01\/22\/us\/election-news-new-hampshire-trump\" style=\"\" rel=\"noopener\">New York Times<\/a>, or <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ca982b8c-f223-4316-ba15-ffe1ae02d900\" style=\"\" rel=\"noopener\">Financial Times<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO worth knowing about this morning:<\/strong><\/p><ul>\n<li><strong>Want to send the kid to study in Canada? Ottawa is imposing a two-year cap on <\/strong><strong>international student visas<\/strong> as part of a bid to tamp down skyrocketing housing prices. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/americas\/canada-set-two-year-cap-international-student-permits-2024-01-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theglobeandmail.com\/politics\/article-international-student-visa-cap-miller-immigration\/\" style=\"\" rel=\"noopener\">Globe and Mail<\/a>)<\/li>\n<li><strong>BlackRock is reorganizing to capture more business from clients rotating out of <\/strong><strong>cash <\/strong>ahead of anticipated interest rate cuts. The big emphasis: a single exec leading a new unit in charge of product creation across the board. The move comes just days after its USD 12.5 bn acquisition of Global Infrastructure Partners. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a8a5e057-dfff-4382-be2e-7345a1ef1843\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/li>\n<li><strong>The Dow has broken past 38k for the first time<\/strong> and the S&amp;P 500 reached a new high yesterday. (<a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/stocks\/global-stocks-markets-dow-news-01-22-2024-0d2b981f?mod=hp_lead_pos3\" style=\"\" rel=\"noopener\">WSJ<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/futures-signal-more-steam-sp-500-after-record-high-2024-01-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<li><strong>Pakistan and Iran restore <\/strong><strong><a target=\"_blank\" href=\"https:\/\/en.mfa.gov.ir\/portal\/newsview\/738676\" style=\"\" rel=\"noopener\">diplomatic ties<\/a><\/strong>after last week\u2019s <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/pakistan-iran-air-force-strikes-638f2ee4ccfb1a56d26e8f28f7e91699\" style=\"\" rel=\"noopener\">tit-for-tat missile strikes<\/a> prompted the countries to withdraw their ambassadors from the respective capitals. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-22\/pakistan-iran-envoys-to-return-to-their-posts-as-relations-thaw\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/world-middle-east-68033426\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/irans-foreign-minister-visit-pakistan-next-week-islamabad-says-2024-01-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<\/ul><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Join our friends at <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ultraibex.com\/\" style=\"\" rel=\"noopener\">Wadi Ibex<\/a><\/strong><strong> on their <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.instagram.com\/p\/C2KqoPaNaQK\/\" style=\"\" rel=\"noopener\">Wadi Degla clean up event<\/a><\/strong><a target=\"_blank\" href=\"https:\/\/www.instagram.com\/p\/C2KqoPaNaQK\/\" style=\"\" rel=\"noopener\"><\/a> on Saturday, 9 March. All you have to do is wear your trainers, sunglasses, and refillable water bottles and head down to <a target=\"_blank\" href=\"https:\/\/maps.app.goo.gl\/TmJpPBg5P3cvhhtQ8\" style=\"\" rel=\"noopener\">Wadi Degla Protectorate<\/a> at 10am. You can sign up <a target=\"_blank\" href=\"https:\/\/ultraibex.com\/event\/wadi-degla-clean-up\/\" style=\"\" rel=\"noopener\">here<\/a>. <\/p><p><strong>** You can check out our My Morning Routine with Wadi Ibex founder Raid Gamal Eldin<\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d8644a49-c46a-406a-8859-4b39f536e035\" style=\"\" rel=\"noopener\">here<\/a><\/strong><strong>.<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2021\/03\/INFINITY-Top-banner-EN-1600x675-v2-02.png\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We look at the government\u2019s plans to increase silo capacity in a bid to reducefood waste and increase our strategic reserves of wheat. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/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=\"613914 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=\"613914\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/23\/613914\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613914\" class=\"content-area-description single-story post-613914 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1736.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">DISCOVER SOMABAY: <\/span><span>Embark on a journey of discovery in the heart of Somabay, where crystal-clear waters meet golden sands and luxury meets serenity. Experience a world of adventure, relaxation, and natural beauty like no other. From thrilling water sports to world-class golf, Somabay offers it all. Explore vibrant coral reefs, unwind in luxurious spas and savor exquisite cuisine. Your dream destination awaits, where every moment is a discovery.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613915\" 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=\"613915\">\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\">RED SEA WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/23\/shipping-giants-divert-more-red-sea-routes-and-seek-overland-alternatives\/\">\r\n                            Shipping giants divert more Red Sea routes and seek overland alternatives                        <\/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\/23\/shipping-giants-divert-more-red-sea-routes-and-seek-overland-alternatives\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The revised rotation will see westbound calls to Salalah and Jeddah suspended until further notice. On Friday, the company said that it will no longer load new cargo from Somalia\u2019s Berbera or Yemen\u2019s Hodeida and Aden, in addition to omitting Djibouti from its Blue Nile Express (BNX) service. Maersk cited risks to seafarers and cargo on Red Sea transits as the reason behind the reshuffles. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hapag-Lloyd finds overland solution to Red Sea disruptions: <\/strong><a target=\"_blank\" href=\"https:\/\/www.hapag-lloyd.com\/en\/home.html\" style=\"\" rel=\"noopener\">Hapag Lloyd<\/a> is set to introduceland corridors through Saudi Arabia to minimize the impact of disruptions to client businesses, as the German carrier continues to reroute shipments via the Cape of Good Hope until further notice, it <a target=\"_blank\" href=\"https:\/\/www.hapag-lloyd.com\/en\/services-information\/news\/2024\/01\/inland-solutions-red-sea-saudi-arabia.html\" style=\"\" rel=\"noopener\">said<\/a> on Friday. Hapag Lloyd is looking to establish a land route linking the UAE\u2019s port in Jebel Ali and Saudi Arabia\u2019s ports Dammam and Jubail to an ocean shuttle service operating out of Jeddah. The firm said that it will \u201ccontinue to expand this inland network within the GCC.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/ar.suezshipyard.com\/\" style=\"\" rel=\"noopener\">Suez Shipyard<\/a><\/strong><strong> \u2014 a company operating under the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.suezcanal.gov.eg\/English\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Suez Canal Authority<\/a><\/strong><strong> (SCA) \u2014 has<\/strong><strong> received Greek-owned <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/88887eeb-01d7-4b48-8a67-a84ed772cb01\" style=\"\" rel=\"noopener\">Zografia<\/a><\/strong><strong> to carry out repairs,<\/strong> following damage incurred in a Houthi attack, according to a <a target=\"_blank\" href=\"https:\/\/www.suezcanal.gov.eg\/english\/mediacenter\/news\/pages\/sca-22-1-2024.aspx\" style=\"\" rel=\"noopener\">statement<\/a> by authority head Osama Rabie yesterday. Suez Shipyard operates one of the largest floating docks in the region, in addition to a dry dock that is used for the repair of medium-sized vessels, the statement added.<\/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 VIEW FROM THE MARKET FLOOR<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shipping delays are tightening crude supply:<\/strong> Red Sea disruptions, surging Chinese demand, and supply outages are boosting competition for oil supplies that do not have to transit via the Suez Canal, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/europe-africa-crude-market-tightens-red-sea-disruptions-china-demand-2024-01-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported citing LSEG data and analysts. As supply tightens, the dynamics of the Brent crude futures market is changing, with spot prices overtaking future contracts \u2014 in what the industry refers to as \u2018backwardation\u2019 \u2014 as markets rush to seize available oil supplies to hedge against future shortfalls. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian refiners are looking to diversify suppliers in a bid to ensure steady and cheap oil<\/strong><strong> flows amid Red Sea disruptions,<\/strong> particularly if the situation escalates, according to <a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/commodityinsights\/en\/market-insights\/latest-news\/oil\/011824-red-sea-crisis-prompts-asia-to-rethink-oil-policy-but-near-term-supplies-intact#:~:text=Asia%20may%20not%20witness%20dramatic,crimp%20refining%20margins%2C%20sources%20said.\" style=\"\" rel=\"noopener\">S&P Global Commodity Insights<\/a>. Asian refiners may begin looking to scale back agreements from Middle Eastern suppliers witnessing an increase in delivery costs and look towards alternative sources in the US, Africa, and South America, in addition to expanding storage infrastructure to hedge against supply shocks.<\/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\/maersk\/\">Maersk<\/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-watch\/\">RED SEA WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/yemen\/\">Yemen<\/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=\"613917\" 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=\"613917\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/23\/edtech-startup-edura-closes-six-figure-usd-pre-seed-round\/\">\r\n                            Egyptian edtech startup Edura closes six-figure USD pre-seed round                        <\/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\/23\/edtech-startup-edura-closes-six-figure-usd-pre-seed-round\/\" 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\/23\/edtech-startup-edura-closes-six-figure-usd-pre-seed-round\/')\">\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\/23\/edtech-startup-edura-closes-six-figure-usd-pre-seed-round\/\">\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=Edtech startup Edura closes six-figure USD pre-seed round&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/23\/edtech-startup-edura-closes-six-figure-usd-pre-seed-round\/\">\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\/23\/edtech-startup-edura-closes-six-figure-usd-pre-seed-round\/&title=Edtech startup Edura closes six-figure USD pre-seed round\">\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=Edtech+startup+Edura+closes+six-figure+USD+pre-seed+round+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F23%2Fedtech-startup-edura-closes-six-figure-usd-pre-seed-round%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\/23\/edtech-startup-edura-closes-six-figure-usd-pre-seed-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1880.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613918\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/23\/edtech-startup-edura-closes-six-figure-usd-pre-seed-round\/1880-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1880.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1880.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1880.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1880.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613917\" class=\"content-area-description single-story post-613917 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-edtech tag-edura tag-enterpriseam tag-startup-watch tag-startups 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\/.ec8698ac-f664-466e-b435-5bf9a99f3683.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>There\u2019s investor appetite for local edtech startups: <\/strong>Edtech startup <a target=\"_blank\" href=\"https:\/\/eduraapp.com\/\" style=\"\" rel=\"noopener\">Edura<\/a> has closed a six-figure USD pre-seed round led by local tech company <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/smartzone-global\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">Smart Zone Startup Studio<\/a>, co-founder and CEO Osama Abdelwahed told Enterprise. Smart Zone contributed 80% of the funds and the remaining amount was deployed by an unnamed angel investor, Abdelwahed added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Edura:<\/strong> Founded in 2021, Edura offers pre-recorded and live interactive lessonsand online assessments to both K-12 and university students. It currently serves over 190k students across all educational levels with the help of over 2.4k teachers, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/1866.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s the money going?<\/strong> The investment will help Edura \u201cenhance the platform's capabilities, expand its operations, and strengthen the development team,\u201d the statement reads. The company also plans to invest in expanding its customer base and to ramp up spending on marketing to reach more teachers across the country, Abdelwahed said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More funds are on the way:<\/strong> Edura plans to close a seed round before the end of the year,Abdelwahed said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ALSO FROM PLANET STARTUP-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Thndr sets up a research unit: <\/strong>Thndr Securities has launched a research platformunder a sister brand dubbed <a target=\"_blank\" href=\"https:\/\/therumble.app\/\" style=\"\" rel=\"noopener\">Rumble<\/a>, after it received a research license allowing it to offer insights and recommendations to investors, the online trading platform announced in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/1845.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cBy separating research and brokerage brands, we are transforming researchfrom being perceived as a cost center into a dynamic, independent entity that delivers high-quality, previously inaccessible information in a user-friendly manner, while ensuring there is no conflict of interest and maintaining the integrity and reliability of our recommendations,\u201d head of fundamental research at Thndr Securities Amr Elalfy said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/edtech\/\">edtech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/edura\/\">Edura<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613919 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=\"613919\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/23\/613919\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613919\" class=\"content-area-description single-story post-613919 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/web.vodafone.com.eg\/en\/sustainability-report-2023\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1841.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613920\" 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=\"613920\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/23\/cira-educations-top-line-grows-31-on-strong-enrolment\/\">\r\n                            CIRA Education\u2019s top line grew 31% on strong enrolment in 1Q FY 2023-24                        <\/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\/23\/cira-educations-top-line-grows-31-on-strong-enrolment\/\" 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\/23\/cira-educations-top-line-grows-31-on-strong-enrolment\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/23\/cira-educations-top-line-grows-31-on-strong-enrolment\/&title=CIRA Education\u2019s top line grows 31% on strong enrolment\">\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=CIRA+Education%E2%80%99s+top+line+grows+31%25+on+strong+enrolment+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F23%2Fcira-educations-top-line-grows-31-on-strong-enrolment%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\/23\/cira-educations-top-line-grows-31-on-strong-enrolment\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1857.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613921\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/23\/cira-educations-top-line-grows-31-on-strong-enrolment\/1857-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1857.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1857.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1857.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1857.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613920\" class=\"content-area-description single-story post-613920 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-cira-education tag-earnings-watch tag-education tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.cf5a364f-79ae-4faf-8bae-ce8b61e209bb.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Higher interest rates continued to put modest pressure on CIRA\u2019s bottom line:<\/strong>CIRA Education saw its adjusted net income drop 7% y-o-y in the three months ending 30 November to EGP 97.1 mn as rising interest rates hit the school operator\u2019s bottom line, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/1834.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Financing costs rose 63% y-o-y increase during the quarter to EGP 130.8 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Higher enrollment rates at CIRA\u2019s higher education, K-12, and nursery segments spurred<\/strong><strong>revenue growth, <\/strong>with its top line rising 31% y-o-y in the quarter to EGP 704.2 mn. Students enrolled in higher ed at CIRA grew 24% to 19.9k (or about 49% of total capacity), while some 34.2k K-12 students means headcount was up 5% to 91% of total capacity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next: <\/strong>CIRA has received the go-ahead from the Higher Education Ministry for Cairo Saxony University to have its first academic year in September. The company also plans to begin construction of its Advanced Sci-Tech International Hub in Damietta this year to launch in 2025 and is in the \u201cfinal stages\u201d of adding more faculties of Badr University in Assiut.<\/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\/cira-education\/\">CIRA Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/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=\"613922 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=\"613922\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/23\/613922\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613922\" class=\"content-area-description single-story post-613922 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/415.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613923\" 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=\"613923\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/23\/egypt-rejects-israeli-arms-smuggling-allegations\/\">\r\n                            Egypt rejects Israeli arms smuggling allegations                        <\/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\/23\/egypt-rejects-israeli-arms-smuggling-allegations\/\" 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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Rashwan\u2019s rebuttal of the allegations that he made in a statement earlier in the day also received coverage on Ala Masouleety (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1145664820144756\" style=\"\" rel=\"noopener\">watch, runtime 27:21<\/a>) and Masaa DMC (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=765067728810765\" style=\"\" rel=\"noopener\">watch, runtime: 2:28<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Those hesitating to support a ceasefire in Gaza \u201cmust bear the moral burden of the<\/strong><strong> killing of 1%\u201d of Gaza\u2019s residents, <\/strong>Foreign Minister Sameh Shoukry told a correspondent for Ala Masouleety on the sidelines of his meeting yesterday with Arab and EU counterparts in Brussels (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=8FT34uvQjUI&ab_channel=SadaElbalad-%D8%B5%D8%AF%D9%89%D8%A7%D9%84%D8%A8%D9%84%D8%AF\" style=\"\" rel=\"noopener\">watch, runtime: 16:44<\/a>). Shoukry added that most of the victims of Israeli aggression are \u201cwomen and children.\u201d Over on Al Hayah Al Youm, Foreign Ministry Spokesperson Ahmed Abu Zeid called in for a phone interview with Lobna Assal to talk about Shoukry\u2019s meeting in Brussels (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/hayahalyoum\/videos\/377691848289273\" style=\"\" rel=\"noopener\">watch, runtime: 8:27<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also on<\/strong><strong> the airwaves last night:<\/strong><\/p>\n<ul>\n<li><strong>Egypt progressing to the next round of Afcon is a chance for the team to try<\/strong><strong> something different<\/strong>, according to former national team player Walid Salah El Din. (Kelma Akhira | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/KelmaAkhira\/videos\/7413986418664930%5C\" style=\"\" rel=\"noopener\">watch, runtime: 5:14<\/a>) (Masa DMC | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=756340309728665\" style=\"\" rel=\"noopener\">watch, runtime: 3:07<\/a>)<\/li>\n<li><strong>Manipulation in the gold markets is the main culprit for an over EGP 1k jump in<\/strong><strong> 21-carat prices<\/strong>,according to gold trading platformiSagha CEO Saied Embaby. (Masa DMC | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=737609901365083\" style=\"\" rel=\"noopener\">watch, runtime: 7:25<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            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alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" 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   \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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/23\/govts-pharos-energy-bill-rises-to-usd-37-mn-plus-schneider-solar-projects-tata-motors-team-up-with-mm-group-valu-bosta-paytabs-heliopolis-housing-project-nokia-factory-new\/\">\r\n                            Gov\u2019t\u2019s Pharos Energy bill rises to USD 37 mn. PLUS: Schneider solar projects, Tata Motors team up with MM Group, ValU + Bosta + PayTabs, Heliopolis Housing project, Nokia factory, new ADIB microfinance firm                        <\/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\/23\/govts-pharos-energy-bill-rises-to-usd-37-mn-plus-schneider-solar-projects-tata-motors-team-up-with-mm-group-valu-bosta-paytabs-heliopolis-housing-project-nokia-factory-new\/\" 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\/23\/govts-pharos-energy-bill-rises-to-usd-37-mn-plus-schneider-solar-projects-tata-motors-team-up-with-mm-group-valu-bosta-paytabs-heliopolis-housing-project-nokia-factory-new\/')\">\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\/23\/govts-pharos-energy-bill-rises-to-usd-37-mn-plus-schneider-solar-projects-tata-motors-team-up-with-mm-group-valu-bosta-paytabs-heliopolis-housing-project-nokia-factory-new\/\">\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=Gov\u2019t\u2019s Pharos Energy bill rises to USD 37 mn. PLUS: Schneider solar projects, Tata Motors team up with MM Group, ValU + Bosta + PayTabs, Heliopolis Housing project, Nokia factory, new ADIB microfinance firm&url=https:\/\/enterpriseam.com\/egypt\/2024\/01\/23\/govts-pharos-energy-bill-rises-to-usd-37-mn-plus-schneider-solar-projects-tata-motors-team-up-with-mm-group-valu-bosta-paytabs-heliopolis-housing-project-nokia-factory-new\/\">\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\/23\/govts-pharos-energy-bill-rises-to-usd-37-mn-plus-schneider-solar-projects-tata-motors-team-up-with-mm-group-valu-bosta-paytabs-heliopolis-housing-project-nokia-factory-new\/&title=Gov\u2019t\u2019s Pharos Energy bill rises to USD 37 mn. 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/23\/govts-pharos-energy-bill-rises-to-usd-37-mn-plus-schneider-solar-projects-tata-motors-team-up-with-mm-group-valu-bosta-paytabs-heliopolis-housing-project-nokia-factory-new\/1941-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1941.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1941.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1941.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1941.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613926\" class=\"content-area-description single-story post-613926 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-automotive tag-debt tag-egypt-italy-relations tag-enterpriseam tag-food tag-heliopolis-housing-and-development tag-logistics tag-manufacturing tag-mm-group tag-nokia tag-oil-and-gas tag-pharos-energy tag-real-estate tag-schneider-electric tag-sico tag-solar-power tag-tata-motors wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.07a4c442-cf44-496a-ab12-b5ada67e6ba4.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">ENERGY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The government\u2019s Pharos Energy bill has risen to USD 37.3 mn:<\/strong> LSE-listed oil and gas company <a target=\"_blank\" href=\"https:\/\/www.pharos.energy\/about-us\/\" style=\"\" rel=\"noopener\">Pharos Energy<\/a> \u2019s receivables owed by the Egyptian government rose to USD 37.3 mn by the end of 2023, up from USD 24.2 mn a year prior, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/1827.pdf\" style=\"\" rel=\"noopener\">operations update (pdf)<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But Pharos Energy is in no hurry to redeem its chips: <\/strong>The company intends to refrain from retrieving its USD-denominated receivables due to the exchange rate volatility.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The company owns a 45% working interest in its El Fayum and North Beni Suef oilconcessions, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9cae00be-72fc-401b-95f5-a0878fb7fd74\" style=\"\" rel=\"noopener\">after selling a 55% stake<\/a> in each back in 2021. The company plans to start development drilling in its North Beni Suef well in the second half of the year.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Schneider mulls solar power projects in South Sinai: <\/strong>French electrical equipmentmanufacturer Schneider Electric discussed potential electricity, water abstraction and greenhouse projects that rely on solar power with officials from the South Sinai governorate, according to statements from both parties (<a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/1901.pdf\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.southsinai.gov.eg\/News\/Details\/3735\" style=\"\" rel=\"noopener\">here<\/a>). Schneider Electric also proposed setting up a center at the Sharm El Sheikh City Council to provide training on solar energy solutions.<\/p><p class=\"tag-border-left\">AUTOMOTIVE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Tata Motors links up with MM Group for local distribution:<\/strong> EGX-listed <a target=\"_blank\" href=\"https:\/\/mti-mmgroup.com\/\" style=\"\" rel=\"noopener\">MM Group for<\/a><a target=\"_blank\" href=\"https:\/\/mti-mmgroup.com\/\" style=\"\" rel=\"noopener\">Industry<\/a><a target=\"_blank\" href=\"https:\/\/mti-mmgroup.com\/\" style=\"\" rel=\"noopener\">and International Trade<\/a> (MTI) has inked a partnership agreement with the Indian automaker <a target=\"_blank\" href=\"https:\/\/www.tatamotors.com\/\" style=\"\" rel=\"noopener\">Tata Motors<\/a> to handle the retail and service of its commercial vehicles in Egypt, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/1815.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from MTI yesterday. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This isn\u2019t MM Group\u2019s first automotive rodeo:<\/strong> MTI already has partnerships with automakers Jaguar, Range Rover, Maserati, and Bentley.<\/p><p class=\"tag-border-left\">FINTECH-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Valu + Bosta + PayTabs Egypt partner to bring new payment installment feature to<\/strong><strong> the market:<\/strong> Buy-now, pay-later solutions provider <a target=\"_blank\" href=\"https:\/\/www.valu.com.eg\/\" style=\"\" rel=\"noopener\">Valu<\/a> has partnered with local logistics startup <a target=\"_blank\" href=\"https:\/\/www.axian-group.com\/en\/homepage\/\" style=\"\" rel=\"noopener\">Bosta<\/a> in a strategic agreement to introduce <a target=\"_blank\" href=\"https:\/\/site.paytabs.com\/en\/egypt\/\" style=\"\" rel=\"noopener\">PayTabs Egypt\u2019s<\/a> installment-on-delivery (IOD) service to Egypt for the first time through the Valu app, according to a joint <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/1854.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>.<\/p><p class=\"tag-border-left\">REAL ESTATE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Heliopolis Housing wraps agreement on New Heliopolis project: <\/strong>State-owned realestate developer <a target=\"_blank\" href=\"http:\/\/www.hhd.com.eg\/\" style=\"\" rel=\"noopener\">Heliopolis Housing and Development<\/a> (HHD) has inked an agreement with <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/middle-east-for-investment-toursitic-development\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">Middle East for Investment &amp; Touristic Development<\/a> \u2014 the developer behind the North Coast\u2019s <a target=\"_blank\" href=\"https:\/\/seashellbeats.com\/_seashell-north-coast-egypt.html\" style=\"\" rel=\"noopener\">Seashell<\/a> \u2014 to team up for a project in New Heliopolis, HHD said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/1886.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a> yesterday. The project will be completed in 10 years and see HHD capture an expected return of EGP 39.7 bn.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EGP 150 bn in revenue overall? <\/strong>Asharq Business reported a day earlier that HDD is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8b47a246-3175-4504-b647-a40a8ede921e\" style=\"\" rel=\"noopener\">in talks<\/a> with one of Egypt\u2019s biggest real estate developers for a project that will generate EGP 150 bn in revenue, citing an unnamed official at HHD.<\/p><p class=\"tag-border-left\">MANUFACTURING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HMD Global doubles down on made-in-Egypt Nokia handsets: <\/strong>HMD Global \u2014 the Finish manufacturer behind Nokia \u2014 has inked a cooperation agreement with the local phones-manufacturer SICO Technology to use the latter\u2019s factory in Assiut to produce Nokia handsets, HMD said in a statement picked by <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/3mjkwaz3\" style=\"\" rel=\"noopener\">Al Mal<\/a>. HMD started manufacturing Nokia phones in Egypt in 2022.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The game plan:<\/strong> HMD wants to make 3 mn phones a year in SICO\u2019s factory, with plans to produce smartphones that support 5G in the future, according to <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/01\/22\/1758790\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The agreement with SICO entails that 43% of production inputs be locally sourced.<\/p><p><strong>** You can check out our Inside Industry rundown of the localization of our smartphone<\/strong><strong> industry <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e7ff33f6-996f-40d3-9dc5-daf8dd6f06e9\" style=\"\" rel=\"noopener\">here<\/a><\/strong><strong>.<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong> HMD also signed an agreement with MNT-Halan to offer installment plans for the Nokia phones.<\/p><p class=\"tag-border-left\">LOGISTICS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt-Italy ro-ro line to launch in 1H 2024:<\/strong> The Transport Ministry signed severalagreements with the Italian government yesterday to kick off operations of a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/058b482f-3b03-4f4b-8ae7-fa907c3bcf00\" style=\"\" rel=\"noopener\">ro-ro shipping line<\/a> during the first half of this year, according to a ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02S6BxHtDkfLgf3QFqZqfhuqCfTGTJA2LSpYM8Dh1vKnRah4gCS6vhH6AX3v5nYmx9l\" style=\"\" rel=\"noopener\">statement<\/a>. The line will link Damietta Port with Italy\u2019s Port of Trieste in Italy and aims to facilitate the transport of perishable agricultural commodities to European markets.<\/p><p class=\"tag-border-left\">MICROFINANCE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADIB microfinance arm gets FRA license to operate 13 branches:<\/strong> Arzaq, the microfinance arm of Abu Dhabi Islamic Bank (ADIB) has secured a license from the Financial Regulatory Authority (FRA) to launch its sharia-complaint microfinance services in 13 branches across ten governorates, the lender said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/1925.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The microfinance firm plans to up their branch count to 60 across the Nile Delta and Upper Egypt by the end of 2024.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> ADIB announced <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0cd58af2-675a-444f-b309-dbecca21d0d9\" style=\"\" rel=\"noopener\">in August<\/a> that it has secured a license to launch a sharia-compliant microfinance firm from the FRA. The lender at the time said the new company would offer financing of up to EGP 220k to small and micro enterprises and will launch with EGP 25 mn of paid-up capital.<\/p><p class=\"tag-border-left\">AVIATION-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hainan Airlines is back:<\/strong> China\u2019s Hainan Airlines touched down in Cairo for the first time in ten years yesterday, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/01\/22\/1758839\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports. The Chinese state-owned airlines announced its intention to reactivate the route with Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e3d4b34-81a2-4cb1-8e78-f6fdd68b5415\" style=\"\" rel=\"noopener\">last month<\/a> with three weekly flights connecting Cairo and Shenzhen.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n 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<\/div>\n<\/div>\n<\/section>\n<section id=\"613929\" 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=\"613929\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/23\/pifs-first-bond-sale-of-2024-was-5x-oversubscribed\/\">\r\n                            Public Investment Fund\u2019s first bond sale of 2024 was 5x oversubscribed                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn 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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\/23\/pifs-first-bond-sale-of-2024-was-5x-oversubscribed\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1924.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613930\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/23\/pifs-first-bond-sale-of-2024-was-5x-oversubscribed\/1924-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1924.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1924.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1924.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1924.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613929\" class=\"content-area-description single-story post-613929 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-bonds tag-debt tag-enterpriseam tag-planet-finance tag-public-investment-fund tag-saudi-arabia 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\/.02bd09d4-954e-42b7-aada-b93f4ee1ad0d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Strong investor appetite for PIF\u2019s first debt sale in 2024: <\/strong>Saudi Arabia\u2019s PublicInvestment Fund took a USD 5 bn senior unsecured bond issuance to market yesterday, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-22\/saudi-wealth-fund-pif-joins-em-rush-to-tap-dollar-bond-market?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The offering was 5x oversubscribed, with bankers taking orders worth USD 27 bn<\/strong>, an unnamed source told the business information service.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s just the latest addition of debt to PIF\u2019s war chest: <\/strong>The fund closed in October a USD 3.5bn global sukuk issuance, two green bond offerings totaling USD 8.5 bn between 2022 and 2023, and lined up a USD 17 bn corporate facility in 2022.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is following in the footsteps of<\/strong> Mexico, Indonesia, and Poland, among others, who haveraised significant debt of late as countries look to take advantage of favorable market conditions driven mainly by an ongoing drop in US yields since October.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH MENTIONING-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>China supports yuan as stock market plummets:<\/strong> Major state-owned banks in China propped up the yuan on Monday by tightening offshore yuan liquidity and selling greenbacks onshore after the benchmark Shanghai Composite index fell by 2.7% \u2014 its biggest one-day drop since April 2022. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/currencies\/china-moves-support-yuan-stock-markets-tumble-sources-2024-01-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p><p><a target=\"_blank\" id=\"t.10e8990fedf79fb070dc86e231fccf5f4708c9bd\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28,050<\/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\">+1.2% (YTD: +12.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.83<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.96<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.85<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.95<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,110<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: +1.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,680<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +1.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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>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\">4,081<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +0.5%)<\/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>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\">4,850<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +1.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">7,488<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: -3.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,480<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: -0.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 79.89<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.7%<\/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>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 2.42<\/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\">-4.0%<\/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 2,042.00<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 39,824.64<\/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\">-4.6% (YTD: -5.2%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 1.2% at yesterday\u2019s close<\/strong> on turnover of EGP 8.5 bn (175.1% above the 90-day average). Foreign investors were net buyers. The index is up 12.7% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Mopco (+10.1%), Beltone Holding (+6.8%) and Talaat Moustafa Group (+4.4%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>B Investments (-3.7%), Ezz Steel (-3.2%) and Alexandria Containers and Cargo Handling (-2.6%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are flirting with the green <\/strong>in early trading this morning. Futures suggest shares on Wall Street and in Europe will follow suit later today. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/public-investment-fund\/\">Public Investment Fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"613931\" 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=\"613931\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/23\/peace-plan-for-gaza-led-by-egypt-and-saudi-arabia\/\">\r\n                            Arab countries, led by Egypt and Saudi Arabia, are pushing a peace plan for Gaza                        <\/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\/23\/peace-plan-for-gaza-led-by-egypt-and-saudi-arabia\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n         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href=\"https:\/\/api.whatsapp.com\/send?text=Peace+plan+for+Gaza%2C+led+by+Egypt+and+Saudi+Arabia+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F01%2F23%2Fpeace-plan-for-gaza-led-by-egypt-and-saudi-arabia%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\/23\/peace-plan-for-gaza-led-by-egypt-and-saudi-arabia\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1940.JPG?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"613932\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/23\/peace-plan-for-gaza-led-by-egypt-and-saudi-arabia\/1940-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1940.JPG?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1940.JPG\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1940.JPG?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1940.JPG?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613931\" class=\"content-area-description single-story post-613931 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-diplomacy tag-enterpriseam tag-middle-east-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.b4d01477-71af-4705-8fe0-1e0e4d2e4a3d.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt and Saudi Arabia are leading a group of five Arab countries pushing a plan for<\/strong><strong> peace and the post-war rebuilding of Gaza<\/strong>, the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/u-s-presses-diplomatic-effort-for-gaza-peace-plan-5c51bef4\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> writes in a deeply reported piece that relies heavily on unnamed Saudi and Egyptian officials. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The pitch: End the war in Gaza and recognize Palestine as an independent nation \u2014 and<\/strong><strong> Saudi Arabia will recognize Israel. <\/strong>US diplomats are playing middleman to pitch the Israelis on the idea, which would also see Gulf countries and Egypt taking the lead in rebuilding and securing Gaza when Israel withdraws.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Netanyahu government is cool to the idea<\/strong>, with the prime minister having said that there\u2019s no way he will recognize a Palestinian state<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s momentum: <\/strong><\/p>\n<ul>\n<li><strong>Brett McGurk was in Cairo yesterday for talks <\/strong>before flying to Doha. He\u2019s the Biden administration\u2019s top Mideast adviser. <\/li>\n<li><strong>Josep Borrell, the EU\u2019s top diplomat, led a group of European foreign ministers meeting with Foreign Minister Sameh Shoukry and other Arab top diplomats<\/strong> in Brussels yesterday.<\/li>\n<li><strong>EU foreign ministers are putting pressure on Israel<\/strong> and do not see eye-to-eye with Foreign Minister Israel Katz. The WSJ says the two sides were \u201ctalking past\u201d each other. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt, Egypt, and the other Arab countries won\u2019t take direct responsibility for securing<\/strong><strong> and rebuilding <\/strong>Gaza, but the WSJ expects them to offer the following when they finish putting together their plans in the coming weeks:<\/p>\n<ul>\n<li>Help with reconstruction \u2014 but not own it;<\/li>\n<li>Train Palestinian security forces;<\/li>\n<li>Reform the Palestinian Authority;<\/li>\n<li>Help organize elections.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"613933\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">9<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/how-will-the-states-plan-to-increase-silo-capacity-help-reduce-waste\/\">\r\n                            What is the Egyptian government doing to reduce wheat waste?<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/how-will-the-states-plan-to-increase-silo-capacity-help-reduce-waste\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The Supply Ministry has unleashed its plan to increase the country\u2019s silo capacity to 5.3 mn tons from its current 2.1 mn tons and cut down on the percentage of wheat that is wasted in the harvest and storage process. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More silos in the pipeline: <\/strong>We\u2019ve been gearing up for another 30k tons of wheat storagecapacity since 2022, when the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2d765c5-8283-489c-865d-df956ce49d44\" style=\"\" rel=\"noopener\">Supply Ministry announced<\/a> that Italy is building six new field silos \u2014 each of which will hold 5k tons \u2014 at a cost of EGP 367 mn as part of the two countries\u2019 debt swap program. Two have already been completed and the other four are under construction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What are field silos? <\/strong>Field silos are silos set up where the crops are being planted andharvested and tech-advanced field silos help reduce the human element and in turn reduce the crops wasted. Tech-advanced silos also help reduce the crop\u2019s exposure to insects or damage, helping preserve the contents for longer. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Field silos mean less spending on transporting <\/strong>the harvested wheat back and forth betweensilos, sources in the internal trade sector told us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government has so far set up six new field silos <\/strong>equipped with modern technologiesand automated 22 of the country\u2019s 70 silos set up across the country. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re in for more funding for our silos: <\/strong>The Egyptian Holding Company for Silos and Storageearlier this week secured a USD 110 mn loan from the World Bank, company head Sherif Basily said. The entirety of the loan will go towards purchasing equipment and machinery for field silos. The loan will help authorities purchase the needed tech components and operating systems needed to automate five silos. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sounds familiar? <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2022\/06\/28\/us-500-million-project-will-help-to-strengthen-egypt-food-and-nutrition-security\" style=\"\" rel=\"noopener\">World Bank<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/966cb88e-6a76-4fab-b636-f1641b6bed72\" style=\"\" rel=\"noopener\">the EU, and the French Development Agency<\/a> havepreviously provided finance to Egypt to help expand its silo capacity in response to rising food insecurity triggered by the war in Ukraine. The World Bank in 2022 said that it is lending us USD 500 mn to support \u201cnational efforts to reduce waste and loss in the wheat supply chain through the upgrade and expansion of climate-resilient wheat silos,\u201d among other things. The EU and French Development Agency also gave the government EUR 60 mn to expand its silo capacity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Automated silos? <\/strong>Silo automation helps improve efficiency and reduce manual labor involvedin the management of the wheat crop \u2014 a move in the right direction seeing how pricey wheat imports have become in light of our FX crunch. \u201cWe are currently working on testing the electric connectivity system for automated silos to ensure they are ready for this year\u2019s local wheat harvest season,\u201d Basily said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More storage capacity: <\/strong>The country\u2019s wheat storage capacity is expected to increase some30% as the field silos project progresses and the government builds new silos, our sources said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The private sector\u2019s role is crucial: <\/strong>The private sector plays an essential role in the country\u2019s plan to set up more logistics zones and national projects aimed at boosting food security, Assistant Supply Minister Ibrahim Ashmawy had previously told Enterprise. The state is currently in talks with a number of private sector players over the matter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The agriculture sector needs to get with the times: <\/strong>The state needs to find ways to utilizeagricultural waste and convert it into a safe fertilizer as a way to tackle the rise in fertilizer cost, vice president of the Federation of Egyptian Chambers of Commerce\u2019s vegetables division Hatem El Naguib told Enterprise. He also pointed to the need for farmers to start shifting their crop production cycle to take into account climate change, which may double productivity. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt could achieve self-sufficiency in wheat <\/strong>through prioritizing the agricultural sector,launching national projects, introducing modern storage systems, and setting up field silos and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0cf21d18-0120-4edf-a72d-54d543f5f569\" style=\"\" rel=\"noopener\">green food centers<\/a>, El Naguib added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top green economy stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>More EVs incoming: <\/strong>Raya Holding\u2019s automotive unit Raya Auto <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/56cee642-0a73-4ac2-ac97-1f8bbd61ed21\" style=\"\" rel=\"noopener\">has become the<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/56cee642-0a73-4ac2-ac97-1f8bbd61ed21\" style=\"\" rel=\"noopener\">country\u2019s sole agent<\/a> for Chinese EV manufacturer XPeng and will bring three of its models to the Egyptian market throughout the year.<\/li>\n<li><strong>ACWA Power\u2019s Kom Ombo solar plant is nearing completion: <\/strong>The 200-MW solar plant being built in Upper Egypt is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fab4ba07-8bca-472f-93cd-defc8860fa54\" style=\"\" rel=\"noopener\">now 82% complete<\/a> and is expected to be completed by April 2024 at an investment cost of USD 168 mn.<\/li>\n<li><strong>BRICS\u2019 New Development Bank eyes electricity investments in Egypt: <\/strong>The New Development Bank (NDB) plans to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a9fef67-e925-4b8c-b4ba-66ec64f40eea\" style=\"\" rel=\"noopener\">ramp up its investments<\/a> in Egypt\u2019s electricity and renewable energy sectors.<\/li>\n<li><strong>General Atlantic acquires Actis: <\/strong>US private equity firm General Atlantic has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/228af014-4c88-4b47-aa50-f7b60d676a5c\" style=\"\" rel=\"noopener\">agreed to<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/228af014-4c88-4b47-aa50-f7b60d676a5c\" style=\"\" rel=\"noopener\">acquire<\/a> London-based, emerging markets-focussed infrastructure fund manager Actis \u2014 an important player in our green energy ambitions \u2014 which will add USD 12.5 bn worth of assets under management to General Atlantic\u2019s USD 83 bn portfolio. <\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"613935\" 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\/23\/613935\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-613935\" class=\"content-area-description single-story post-613935 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>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>4 February (Sunday): The <\/span><span>Senate meeting<\/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 style=\"font-weight:400;\">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>28-29 April (Sunday-Monday): Saudi Arabia hosts a World Economic Forum (WEF) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-arabia-host-world-economic-forum-meeting-april-2024-01-18\/\" style=\"\">meeting<\/a><\/span><span style=\"font-weight:400;\"> on \u2018global collaboration, growth, and energy.\u2019<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 May (Wednesday): National holiday in observance of Labor Day (TBC) (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5 May (Sunday): Coptic Easter.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 May (Monday): Sham El Nessim (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 May (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>29 May (Wednesday): Virtual launch of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.chicagobooth.edu\/executiveeducation\/programs\/management\/executive-program-el-gouna\" style=\"\">Chicago Booth Executive Program<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15-19 June (Saturday-Wednesday): Eid El Adha (TBC) (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 June (Sunday): June 30 Revolution Day (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">7 July (Sunday): National holiday in observance of Islamic New Year (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">18 July (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23 July (Tuesday): Revolution Day (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-5 September (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.airport-technology.com\/sponsored\/dates-announced-for-egypt-international-airshow-2024\/\" style=\"\">Egypt International Airshow<\/a><\/span><span style=\"font-weight:400;\">, El Alamein International Airport.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 September (Sunday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25-26 September (Wednesday - Thursday): The Asian Infrastructure Investment Bank\u2019s (AIIB) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aiib.org\/en\/news-events\/events\/annual-meetings\/2024\/index.html\" style=\"\">2024 annual meeting<\/a><\/span><span style=\"font-weight:400;\">, Samarkand, Uzbekistan.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 October (Sunday): Armed Forces Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17 October (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">January 2024: The Red Sea Ports Authority is set to finalize an agreement with the Abu Dhabi Ports Group for the operation and maintenance of the tourist passenger terminal in the Sharm El Sheikh Sea Port.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2024: Egyptian-Qatari Joint Supreme Committee.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2024: Opening of the newly developed Pyramids Plateau in Giza.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>February-May: The Grand Egyptian Museum could officially <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/737b1347-f02b-4ee0-87c1-032c0c858611\" style=\"\">open to visitors<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>June 2024: Gov\u2019t expects to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cfdc99d8-291f-4b7c-8af8-8e1cccc74de5\" style=\"\">finalize sale<\/a><\/span><span style=\"font-weight:400;\"> of Beni Suef combined-cycle power plant.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1H 2024: Gov\u2019t expects to finalize sale of four water desalination plants.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1H 2024: The European Union is set to hold an investment conference in Egypt during spring.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2H 2024: Gov\u2019t to launch the Cairo Ring Road BRT buses.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>November 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LLPJRjsu6SZLwtRHuLmCQxoAZB3xaXVXH8aYkMSEH3ae4aW6JCZaPe5h5u9nKmcRl\" style=\"\">Egypt to host<\/a><\/span><span style=\"font-weight:400;\"> the World Urban Forum (WUF12).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2024: The launch of the high-speed train line linking Ain Sokhna with Al Alamein City. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2024: Standard Chartered Bank to open a branch in Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2Q 2025: Safaga Terminal 2 to start operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>More Red Sea diversions | StanChart to set up shop | PIF bond sale 5x oversubscribed | Investor appetite for edtech startups<\/p>\n","protected":false},"featured_media":613911,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-613910","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d686e15c-f090-45dd-b732-ea3beaaa7cb5","teaser":"More Red Sea diversions | StanChart to set up shop | PIF bond sale 5x oversubscribed | Investor appetite for edtech 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