{"id":614407,"date":"2024-02-01T00:00:00","date_gmt":"2024-02-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=614407"},"modified":"2025-12-17T03:34:51","modified_gmt":"2025-12-17T03:34:51","slug":"egypts-usd-bonds-are-underrated-glodman-pictet","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egypts-usd-bonds-are-underrated-glodman-pictet\/","title":{"rendered":"Egypt\u2019s USD bonds are underrated - Glodman, Pictet"},"content":{"rendered":"<section id=\"614409\" 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=\"614409\">\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\/02\/01\/erdogan-coming-to-egypt\/\">\r\n                            Erdogan coming to Egypt?                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/erdogan-coming-to-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n         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data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/11.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/11.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-614409\" class=\"content-area-description single-story post-614409 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-egypt-turkey-relations tag-enterpriseam tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.76174631-c601-40fa-9342-e03b063f6792.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;font-family:\" arial><strong>Good morning, fellow Popsicles. <\/strong>We hope you are warm and looking forward to the weekend as much as we are on this very chilly morning. <\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>Before we get underway: <\/strong>If we\u2019re cold, imagine how folks in Gaza feel today. It\u2019s a good time to remember that while we all face limits on USD use, there are good people doing good work for Gazans to whom you can donate in EGP, including the Egyptian Food Bank and Misr El Kheir. <\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>Check out <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/75c231ab-51b7-42d0-963e-0ad3c2fef15b\" style=\"\" rel=\"noopener\">our list of charities<\/a><\/strong><strong> to which you can make direct donations<\/strong> via bank deposit and \/ or Fawry.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;font-family:\" arial><strong>ICYMI- EnterpriseAM KSA and Enterprise UAE have joined the growing Enterprise family<\/strong><strong> of publications. <\/strong>Our two newest additions to the Enterprise suite are written for business leaders in Saudi Arabia and the United Arab Emirates as well as investors, and others doing business or deploying capital there. You can check out EnterpriseAM KSA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">here<\/a> and EnterpriseAM UAE <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>And for the climate and logistics professionals out there<\/strong>, check out <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\" style=\"\" rel=\"noopener\">Enterprise Climate<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\" rel=\"noopener\">Enterprise Logistics<\/a> for a daily regional rundown of your industry.<\/p><p class=\"tag-border-left\">THE BIG STORY HERE AT HOME- <\/p><p style=\"padding:0;margin:0;font-family:\" arial> <a id=\"wwtt5\"><\/a><strong>Erdogan is coming to town in two weeks:<\/strong> Turkish President Reccep Tayyip Erdogan is reportedly coming to Egypt on 14 February to meet with President Abdel Fattah El Sisi, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-31\/erdogan-to-visit-egypt-to-reboot-ties-after-decade-long-friction\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing Turkish officials it says are familiar with the matter. The two leaders will discuss the war on Gaza, ways to boost trade exchange, and the possibility of redrawing maritime borders between Egypt and Turkey to allow Ankara to look for more energy sources in the Mediterranean.<\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>Mending broken ties:<\/strong> Erdogan\u2019s visit will mark his first in over 10 years as the two sides work to mend a decade of tense relations triggered by a host of issues including Erdogan\u2019s support for the Muslim Brotherhood, competing interests in Libya, and tensions over gas resources in the Eastern Mediterranean. The two countries restored diplomatic ties and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/467e7c7c-3c5e-45ce-bc81-70050a95fabf\" style=\"\" rel=\"noopener\">reappointed ambassadors<\/a> last summer after a decade of severed diplomatic ties.<\/p><p class=\"tag-border-left\">HAPPENING TODAY- <\/p><p style=\"padding:0;margin:0;font-family:\" arial> <a id=\"wwtt1\"><\/a> <strong>#1- It\u2019s interest rate day: <\/strong>The Central Bank of Egypt\u2019s Monetary Policy Committee is meeting for the first time this year later today to review rates. <\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>Analysts were split<\/strong> on what the central bank\u2019s next move would be in a poll Enterprise ran this week. Four of the nine <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/77990506-c8e6-4ba3-a7a4-205e229c7be6\" style=\"\" rel=\"noopener\">predicted<\/a> that rates will be left unchanged as inflation cools, while other analysts told us that we could see hikes between 150-200 bps.<\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>But this could all change if chatter about an agreement with the IMF is more than just <\/strong><strong>rumors<\/strong>, with a number of analysts we spoke to telling us that updates on the future of the IMF package will play a big role in the CBE\u2019s next move. An IMF delegation has been in Cairo for two weeks to work out an agreement, and while the rumor mill went into overdrive with suggestions that we\u2019re in for a bigger package and soon, we are yet to hear anything official.<\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>Speaking of the IMF- <\/strong>\u201cThere are negotiations between the IMf team and Egyptian authorities and they are making progress,\u201d Jihad Azour, the IMF director for the Middle East, North Africa, said during a press briefing yesterday (<a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/Videos\/view?vid=6345935222112\" style=\"\" rel=\"noopener\">watch, runtime: 36:27<\/a>). \u201cThe first and second revisions are being looked into. The goals of the program approved in October 2022 remain the same and that\u2019s the base of the discussions now,\u201d he explained. <\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>** Read more: <\/strong>Yesterday\u2019s issue of EnterpriseAM <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08f51e36-cd3a-411d-a974-659fd3601066\" style=\"\" rel=\"noopener\">had a deep dive<\/a> into everything you need to know about our imminent IMF package and EGP devaluation. <\/p><p style=\"padding:0;margin:0;font-family:\" arial><a id=\"wwtt4\"><\/a> <strong>#2- OPEC+ members will review the oil cartel\u2019s ongoing production cuts <\/strong>during a Joint Ministerial Monitoring Committee today, Reuters <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/opec-unlikely-decide-oil-policy-feb-1-will-wait-several-weeks-sources-2024-01-26\/\" style=\"\" rel=\"noopener\">reports<\/a>. But don\u2019t expect any breaking news from the meeting, as several OPEC+ sources told the newswire that they expect any decisions regarding extending production cuts into April to come later in the month.<\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>TODAY IS ALSO THE START OF A NEW MONTH- <\/strong>Here are the key news triggers on which to keep your eyes on during the first few weeks of February. <\/p><ul>\n<li><strong>PMI:<\/strong> S&amp;P Global will publish Egypt\u2019s PMI figures for January on Monday. <\/li>\n<li><strong>Inflation: <\/strong>Capmas and the CBE will publish the latest inflation data on Saturday, 10 February.<\/li>\n<li><strong>Foreign reserves: <\/strong>The central bank should release January\u2019s foreign reserves figures at some point next week. <\/li>\n<\/ul><p class=\"tag-border-left\">EGX WATCH-<\/p><p style=\"padding:0;margin:0;font-family:\" arial><a id=\"wwtt2\"><\/a> <strong>EGX30 nosedived by 6.8% at today\u2019s close amid heavy selloff from local investors. <\/strong>CIB was the best performer on the index for falling only by 1%. This came one day after a 3.8% increase saw the market achieve a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3cbcacc-56b4-43e0-956b-a8ff9f04571d\" style=\"\" rel=\"noopener\">historical high<\/a> surpassing the 30,000 points level for the first time ever. The index is up 13.6% YTD. <\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>Blame the impending devaluation:<\/strong> Investors have taken a \u201csell the fact\u201d stance, offloading equities as the EGP devaluation appears to be inching closer and closer, East Capital International\u2019s Emre Akcakmak told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-31\/egyptian-stocks-plunge-while-devaluation-bets-build-up?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The EGX30 has been on a months-long rally as investors looked to stocks as a hedge against high inflation and a weakening EGP.<\/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 style=\"padding:0;margin:0;font-family:\" arial>!_ImageURLWeb_! https:\/\/ent.news\/2024\/2\/9.jpg<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;font-family:\" arial> <a id=\"wwtt3\"><\/a> <strong>Fed leaves rates unchanged:<\/strong> The US Federal Reserve left interest rates unchanged for the fourth consecutive meeting yesterday, it said in a <a target=\"_blank\" href=\"https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20240131a.htm\" style=\"\" rel=\"noopener\">statement<\/a>. Interest rates will stay at a 22-year high of 5.25%-5.50% following an aggressive monetary tightening cycle, which has pushed rates to their highest level since 2001.<\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>Everyone saw it coming: <\/strong>Traders, investors, and economists alike, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe1d1d08-d62a-4f9e-9cee-c3e7cb9e032c\" style=\"\" rel=\"noopener\">were expecting<\/a> the Fed to leave the current policy rate as is. However they can\u2019t seem to agree about when the Fed may move forwards with its long-awaited rate cut. <\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>March cuts seem unlikely: <\/strong>Despite the Fed officials saying that \u201cthe risks to achieving their employment and inflation goals are moving into better balance,\u201d Fed chair Jerome Powell made it clear that rate cuts are further down the line than many had hoped. \u201cBased on the meeting today, I would tell you that I don\u2019t think it\u2019s likely that the committee will reach a level of confidence by the time of the March meeting,\u201d he said. <\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>The story is on every front page this morning: <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/feds-faith-immaculate-disinflation-narrative-put-test-2024-01-31\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b4b16898-5f6a-4b0e-9651-c48dd64400e2\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/01\/31\/fed-meeting-today-live-updates.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/fed-meeting-fomc-interest-rate-january-2024\" style=\"\" rel=\"noopener\">WSJ<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/live\/federal-reserve-interest-rate-updates\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2024\/01\/31\/business\/fed-meeting-interest-rates\" style=\"\" rel=\"noopener\">NYT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-31\/fed-holds-rates-steady-and-inches-closer-to-cutting-in-future\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. <\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>On the issue of regional tensions and the Red Sea:<\/strong><\/p><ul>\n<li><strong>Iran has threatened a \u201cdecisive response\u201d if the US strikes its \u201cterritory, or its <\/strong><strong>interests or citizens abroad,\u201d<\/strong> Iran\u2019s UN Ambassador Amir Saeid Iravani said, according to <a target=\"_blank\" href=\"https:\/\/en.irna.ir\/news\/85371112\/Any-attack-on-country-will-be-met-with-decisive-response-Iran\" style=\"\" rel=\"noopener\">Iranian state media<\/a>. The statement came as the US Navy <a target=\"_blank\" href=\"https:\/\/twitter.com\/CENTCOM\/status\/1752765805501284588\" style=\"\" rel=\"noopener\">launched another attack<\/a> against Houthi infrastructure in Yemen.<\/li>\n<li><strong>The European Union is set to send ships into the Red Sea by mid-February<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/eus-borrell-hopes-lead-eu-red-sea-mission-will-be-known-soon-2024-01-31\/\" style=\"\" rel=\"noopener\">Reuters<\/a> writes, in a bid to help deter Houthi attacks on shipping. EU forces will not participate in attacks on Houthi positions, the bloc\u2019s foreign policy chief added.<\/li>\n<\/ul><p style=\"padding:0;margin:0;font-family:\" arial><strong>AND IN BUSINESS NEWS- Judge quashes Elon Musk\u2019s \u201cunfathomable\u201d USD 56 bn Tesla <\/strong><strong>pay package<\/strong>, arguing that the package \u2014 set to be the biggest in US corporate history \u2014 was excessive and unfair to shareholders. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/judge-rules-favor-plaintiffs-challenging-musks-tesla-pay-package-2024-01-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/p><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR-<\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>#1- The National Dialogue 2.0 wants to hear your thoughts on the economy: <\/strong>Organizations and individuals have until Sunday, 11 February to submit <a target=\"_blank\" href=\"https:\/\/egyouth.com\/ar\/register\/\" style=\"\" rel=\"noopener\">proposals<\/a> to be discussed during the second round of the National Dialogue, which is set to be focussed on economic issues, the dialogue\u2019s general coordinator Diaa Rashwan told Hadith El Akhbar (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=P2iYwAOLqeE\" style=\"\" rel=\"noopener\">watch, runtime: 3:43<\/a>). The dialogue\u2019s board of trustees will meet and set its timetable shortly after the proposal submission deadline. <\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>What can we expect from this round of talks? <\/strong>The second round of the dialogue is set to address the exchange rate, monetary policy, soaring commodities prices, and the economic impact of geopolitical tensions, the dialogue\u2019s Samir Sabry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4207f049-9dd2-4235-aa00-d4e07d58efda\" style=\"\" rel=\"noopener\">told local media<\/a> last week..<\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>#2- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.egypes.com\/?utm_source=search&amp;utm_medium=cpc&amp;utm_term=egyps&amp;utm_content=&amp;utm_campaign=visprom\" style=\"\" rel=\"noopener\">Egypt Energy Show<\/a><\/strong><strong> will take place from 19 February to 21 February<\/strong> in the Egypt International Exhibition Center. The event \u2014 centered around the year\u2019s theme of Driving Energy Transition, Security, and Decarbonization \u2014 will gather 35k energy industry professionals and host over 80 conferences. You can sign up to attend <a target=\"_blank\" href=\"https:\/\/www.egypes.com\/exhibition\/visitor-registration\/?actioncode=DIG2&amp;utm_source=search&amp;utm_medium=cpc&amp;utm_campaign=visprom&amp;utm_term=egyps&amp;gad_source=1&amp;gclid=CjwKCAiAtt2tBhBDEiwALZuhAN2zAhQXEPpPBPkOGQKqu_yqP9kd5-STi_DShwshsbtwI-_gOyW55RoCLYQQAvD_BwE\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p style=\"padding:0;margin:0;font-family:\" arial><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>\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\/egypt-turkey-relations\/\">Egypt-Turkey relations<\/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=\"614411 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=\"614411\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/614411\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-614411\" class=\"content-area-description single-story post-614411 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;font-family:\" arial><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\/2652.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Escape to Somabay,<\/span><span style=\"\"> where the sun-kissed shores await your arrival. Immerse yourself in the<\/span><span> warmth of a perfect vacation, starting each day with the radiant embrace of the sun. Unwind, explore, and create unforgettable memories in this paradise by the sea.<\/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=\"614412\" 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=\"614412\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/goldman-pictet-thinks-egypts-usd-bonds-are-underrated\/\">\r\n                            Goldman Sachs and Pictet Asset Management see Egypt\u2019s USD bonds gaining momentum, playdown defaulting fears                        <\/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\/02\/01\/goldman-pictet-thinks-egypts-usd-bonds-are-underrated\/\" 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\/02\/01\/goldman-pictet-thinks-egypts-usd-bonds-are-underrated\/')\">\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\/02\/01\/goldman-pictet-thinks-egypts-usd-bonds-are-underrated\/\">\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=Goldman, Pictet thinks Egypt\u2019s USD bonds are underrated&url=https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/goldman-pictet-thinks-egypts-usd-bonds-are-underrated\/\">\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\/02\/01\/goldman-pictet-thinks-egypts-usd-bonds-are-underrated\/&title=Goldman, Pictet thinks Egypt\u2019s USD bonds are underrated\">\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=Goldman%2C+Pictet+thinks+Egypt%E2%80%99s+USD+bonds+are+underrated+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F02%2F01%2Fgoldman-pictet-thinks-egypts-usd-bonds-are-underrated%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\/02\/01\/goldman-pictet-thinks-egypts-usd-bonds-are-underrated\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-614412\" class=\"content-area-description single-story post-614412 post type-post status-publish format-standard hentry category-economy tag-bonds tag-debt tag-economy tag-enterpriseam tag-goldman-sachs tag-pictet-asset-management 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\/2\/.d9c78eef-3af3-45fc-8858-8f66df580cfa.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"background-color: transparent;\">The yield spread between Egyptian USD bonds and US treasuries currently stands at 990 bps<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"> <strong>Goldman, Pictet are upbeat about Egypt\u2019s USD bonds: <\/strong>Egypt\u2019s USD-denominated bonds are being touted byGoldman Sachs and Pictet Asset Management as they brush away concerns about defaulting and low credit rating, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-31\/goldman-pictet-say-buy-egypt-dollar-bonds-as-pessimism-overdone?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>No defaults expected:<\/strong> Goldman Sachs\u2019 Head of Global Foreign Exchange Kamakshya Trivedi said that a default is less likely to happen in Egypt compared to what the market has priced; likewise, Pictet doesn\u2019t expect to see any developing nation default this year, according to the firm\u2019s CIO for fixed income Mary-Therese Barton.<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>Macroeconomic conditions are shifting in favor of lower-rated countries<\/strong>, especially with the Federal Reserve expected to start cutting interest rates this year, Trivedi said.<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>\u201cThat\u2019s already beginning to play out,\u201d<\/strong> as hard-currency bonds in emerging markets have boasted \u201cpositive momentum,\u201d Trivedi said. This sentiment was also echoed by Barton, who said that multilateral-backed developing markets like Egypt can drive \u201chigh single-digit\u201d returns for investors.<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>Teetering on the edge of distress? No Problem. <\/strong>The yield spread between Egyptian USD bonds and US treasuries stood at 990 bps on Wednesday \u2014 just shy of the 1k bps level that marks distress, according to data from JP Morgan Chase cited by Bloomberg. Nonetheless, Trivedi said \u201cthere is probably quite a lot of upside in the distressed sovereign category,\u201d with Egypt being a lead example. <\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>Remember:<\/strong> Egypt\u2019s USD bonds were well into the distressed territory before the war on Gaza, with yield spreads between Egyptian USD bonds and USD treasuries reaching <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6bf0691d-2249-4056-b53b-6f4781620fe6\" style=\"\" rel=\"noopener\">1,165 basis points<\/a> by the end of September. Escalation of the conflict in Gaza has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/df8e1343-11a4-48a5-980f-ca9f9eb5ebc8\" style=\"\" rel=\"noopener\">caused<\/a> bond markets to price in a lower likelihood of default on expectations that our international backers will ride to the rescue, which helped the spread with US treasuries narrow. <\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>ICYMI-<\/strong> Citibank this week <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/544d13ae-78ee-4bf0-af44-34935958906c\" style=\"\" rel=\"noopener\">downgraded<\/a> its recommendation for Egypt\u2019s USD bonds issued in October to \u201cmarketweight\u201d \u2014 a rating given to fixed-income securities to indicate that their yields align with market expectations \u2014 after giving the bonds an \u201coverweight\u201d recommendation last year.<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>Egypt\u2019s credit rating has been taking hit after hit:<\/strong> Moody\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ce5a6d0-407b-42ea-a58b-ae7eaab021f3\" style=\"\" rel=\"noopener\">downgraded<\/a> Egypt\u2019s credit outlook to negative from stable last month, affirming its Caa1 rating \u2014 seven rungs into junk territory, citing concerns that IMF support would be insufficient in warding off macroeconomic challenges and currency instability in the country. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6fce3ee3-016d-412b-be92-c47ec2ae0e72\" style=\"\" rel=\"noopener\">Moody\u2019s<\/a>, alongside <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9dd47b4b-5995-4497-94b6-6d9d4bf39af7\" style=\"\" rel=\"noopener\">Fitch Ratings<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c9d2065-c5ad-456f-adb1-867053c60a70\" style=\"\" rel=\"noopener\">S&amp;P Global<\/a> downgraded our sovereign credit rating twice last year.<\/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\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/goldman-sachs\/\">Goldman Sachs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pictet-asset-management\/\">Pictet Asset Management<\/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=\"614413\" 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=\"614413\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/war-on-gaza-will-cut-into-foreign-exchange-inflows-spike-govt-expenditure-imf\/\">\r\n                            War on Gaza will cut into Egypt\u2019s foreign exchange inflows, spike gov\u2019t expenditure - IMF                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/war-on-gaza-will-cut-into-foreign-exchange-inflows-spike-govt-expenditure-imf\/\" 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\/02\/01\/war-on-gaza-will-cut-into-foreign-exchange-inflows-spike-govt-expenditure-imf\/')\">\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\/02\/01\/war-on-gaza-will-cut-into-foreign-exchange-inflows-spike-govt-expenditure-imf\/\">\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=War on Gaza will cut into foreign exchange inflows, spike gov\u2019t expenditure - IMF&url=https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/war-on-gaza-will-cut-into-foreign-exchange-inflows-spike-govt-expenditure-imf\/\">\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\/02\/01\/war-on-gaza-will-cut-into-foreign-exchange-inflows-spike-govt-expenditure-imf\/&title=War on Gaza will cut into foreign exchange inflows, spike gov\u2019t expenditure - IMF\">\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=War+on+Gaza+will+cut+into+foreign+exchange+inflows%2C+spike+gov%E2%80%99t+expenditure+-+IMF+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F02%2F01%2Fwar-on-gaza-will-cut-into-foreign-exchange-inflows-spike-govt-expenditure-imf%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\/02\/01\/war-on-gaza-will-cut-into-foreign-exchange-inflows-spike-govt-expenditure-imf\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2790.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"614414\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/war-on-gaza-will-cut-into-foreign-exchange-inflows-spike-govt-expenditure-imf\/2790-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2790.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2790.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2790.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2790.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-614413\" class=\"content-area-description single-story post-614413 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-foreign-exchange tag-imf tag-middle-east-politics tag-world-economic-outlook 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\/2\/.d4dea517-33e0-490f-9b3e-f5baad5682f9.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"> <strong>The International Monetary Fund is out with its latest <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/2721.pdf\" style=\"\" rel=\"noopener\">Regional Economic Outlook (pdf)<\/a><\/strong> for the Middle East and North Africa, giving us a regional deep dive into its headline growth projections it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21492e0c-4252-4e18-8696-f420040fffcd\" style=\"\" rel=\"noopener\">released a day earlier<\/a> in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/2619.pdf\" style=\"\" rel=\"noopener\">World Economic Outlook (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>ICYMI- <\/strong>The Fund on Tuesday once again cut our growth outlook to 3.0% for the fiscal year 2023-2024, down 0.6 percentage points from its last projection in October. The picture for the region as a whole wasn't much better either, with its growth projection for the year cut 0.5 percentage points to 2.9%.<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\">\n<p class=\"tag-border-left\">WHAT\u2019S BEHIND THE CUT + WHERE DOES EGYPT <strong>STAND<\/strong>-<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>Israel\u2019s war on Gaza is \u201cexacerbating an already challenging environment for<\/strong><strong> neighboring countries and beyond,\u201d<\/strong> warns the IMF. The report also cautions that if the conflict spreads outside the enclave and disruption in the Red Sea escalates, the region could face a \u201csevere economic impact, including on trade and tourism\u201d \u2014 and you don\u2019t need to be a world-renowned regional economic expert to know which country this applies to most.<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>Nevertheless, tourism in Egypt has proved to be resilient: <\/strong>The Fund highlights that our tourism industry has fared much better than in Lebanon and Jordan, but high-frequency tourism data nonetheless \u201cshow signs of a possible deterioration.\u201d<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>But we\u2019re not through the storm yet: <\/strong>\u201cWith an escalation of the conflict, a more severe or persistent negative impact on tourism could materialize\u201d in the region, the report adds. <\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>A dark cloud is hanging over our Suez Canal revenue expectations: <\/strong>The halting of numerous shipping lines through the Suez Canal has not gone unnoticed by the IMF, with the Fund warning of the knock-on effect this could have on foreign exchange flows. The Suez Canal provided \u201c2.2% of GDP in annual balance of payment receipts and 1.2% of GDP in fiscal revenue,\u201d the report added<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>Investors could get spooked: <\/strong>\u201cHeightened uncertainty is expected to weigh on investor sentiment and net foreign direct investment inflows,\u201d the Fund wrote. <\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>A dip Suez Canal revenues and FDI will only add to our existing FX shortages: <\/strong>Reductions of foreign exchange flows from the the Suez Canal and FDI will add to the \u201csustained adverse impact of foreign exchange shortages on private sector activity\u201d and \u201care projected to negatively impact the external sector and economic growth,\u201d the statement added.<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>Inflation nation: <\/strong>As in most other countries in the region, says the Fund, inflation is easing here at home. However, the IMF singles out our FX shortages as one of the reasons why inflation has proven more persistent than hoped regardless of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/815af663-93e6-46f2-916b-91cb17e65ab1\" style=\"\" rel=\"noopener\">promising inflation data<\/a> in recent months.<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>This is all in addition to rising expenditures here at home:<\/strong> \u201cOn the fiscal side, expenditures could rise amid needs to support vulnerable households and displaced communities and to bolster security, particularly for economies in close proximity to the conflict,\u201d the Fund writes. On top of this, the Fund also adds that the public and private sectors will have to contend with \u201chigher energy and borrowing costs from an unexpected tightening of regional financing conditions,\u201d which is forecasted to further hold back growth.<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>If this is the best case scenario, we\u2019re not sure we want to hear the worst case scenario:<\/strong>The IMF\u2019s outlook for the region and headline growth figures are based upon the assumption that the war on Gaza and wider disruptions stemming from it start to ease in the first quarter of 2024. However, with Israeli military officials <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-30\/israel-military-sees-long-road-ahead-to-eliminating-hamas-threat\" style=\"\" rel=\"noopener\">predicting<\/a> the conflict continuing throughout the year, Israeli ministers <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2024\/jan\/29\/israeli-ministers-attend-conference-calling-for-voluntary-migration-of-palestinians\" style=\"\" rel=\"noopener\">calling for<\/a> ethnic cleansing and settlements in Gaza, and ceasefire negotiations <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3cbcacc-56b4-43e0-956b-a8ff9f04571d\" style=\"\" rel=\"noopener\">hitting roadblocks<\/a>, the conflict shows few signs of ending soon.<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/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\/world-economic-outlook\/\">World Economic Outlook<\/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=\"614415\" 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=\"614415\">\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\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/cabinet-slashes-government-spending-some-more\/\">\r\n                            The Egyptian government slashes public investments until July                        <\/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\/02\/01\/cabinet-slashes-government-spending-some-more\/\" 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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Among the most notable are:<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>#1- Slashing public spending:<\/strong> Ministers approved a decision slashing allocations for investment in fiscal year 2023-2024, extending a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0ee7dee0-e5f9-4574-8263-7b5b02e945e9\" style=\"\" rel=\"noopener\">series of cutbacks to government spending<\/a> that initially targeted non-essential projects and spending that placed demand on foreign currency. <\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>The details: <\/strong>The decision will cut funds allocated for investment in the current fiscal year\u2019s budget by 15% and push back any new projects until 30 June 2024 \u2014 that means not launching any new tenders or inking new contracts until then. Additionally, the law prohibits state entities from inking any external financing agreements or start working on any projects that will require FX spending.<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>The exception: <\/strong>The decision would exempt any investment project specifically approved by cabinet. The government will prioritize \u201cnecessary investments\u201d and projects that are over 70% completed. <\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>#2- A law scrapping tax breaks for state companies is getting exec regs: <\/strong>The cabinet greenlit the executive regulations for the law scrapping tax exemptions previously granted to state entities and public-sector companies and projects. The bill cancles long-criticized preferential treatment that tipped off the competition balance between public and private sectors and aims to level the playing field for investors. The law was approved by the House back in July.<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>** We dive into the ins and outs of the law in <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fcd90ef5-04cc-44fd-9806-4df86804f8b2\" style=\"\" rel=\"noopener\">our coverage last year<\/a><\/strong><strong>.<\/strong><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>#3- Another golden license granted: <\/strong>Hassan Allam for Strategic Warehouses in Luxor \u2014 the newly established logistics arm of Hassan Allam Holding \u2014 has been handed a golden license to build, operate, and maintain an EGP 1.5 bn warehouses complex in Luxor. The Hassan Allam subsidiary was the first to use the golden license e-platform when it launched <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea43e533-4bab-49ab-b7f6-6e850ef08ea7\" style=\"\" rel=\"noopener\">in November<\/a>.<\/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\/cabinet-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"614417\" 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=\"614417\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/giza-systems-vas-are-getting-usd-175-mn-from-local-gulf-banks-tanmeyah-is-in-line-for-usd-10-mn-from-the-ebrd\/\">\r\n                            Egypt\u2019s Giza Systems, VAS are getting USD 175 mn from local, Gulf banks + Tanmeyah is in line for USD 10 mn from the EBRD                        <\/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\/02\/01\/giza-systems-vas-are-getting-usd-175-mn-from-local-gulf-banks-tanmeyah-is-in-line-for-usd-10-mn-from-the-ebrd\/\" 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               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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/giza-systems-vas-are-getting-usd-175-mn-from-local-gulf-banks-tanmeyah-is-in-line-for-usd-10-mn-from-the-ebrd\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/7.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"614418\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/giza-systems-vas-are-getting-usd-175-mn-from-local-gulf-banks-tanmeyah-is-in-line-for-usd-10-mn-from-the-ebrd\/7-jpg-35\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/7.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"7.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/7.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/7.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-614417\" class=\"content-area-description single-story post-614417 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-ebrd tag-efg-holding tag-enterpriseam tag-giza-systems tag-saudi-telecom-company tag-smes tag-tanmeyah 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\/2\/.938dd4b9-567d-476b-a9bd-080fd2ef581c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"> <strong>Sharia-compliant facilities for Giza Systems, VAS: <\/strong>Local tech consultancy firm <a target=\"_blank\" href=\"https:\/\/gizasystems.com\/about.html\" style=\"\" rel=\"noopener\">Giza<\/a><a target=\"_blank\" href=\"https:\/\/gizasystems.com\/about.html\" style=\"\" rel=\"noopener\">Systems<\/a> and its subsidiary <a target=\"_blank\" href=\"https:\/\/www.vas-eg.com\/about-us\/\" style=\"\" rel=\"noopener\">VAS Integrated Solutions<\/a> have secured a number of Sharia-compliant syndicated credit facilities from several local and Gulf banks totalling USD 175 mn \u2014 split between USD 84 mn and EGP 2.82 bn \u2014 Giza Systems\u2019 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c36b7a05-9d2e-4244-bb23-a48d8d0e4880\" style=\"\" rel=\"noopener\">majority owner<\/a><a target=\"_blank\" href=\"https:\/\/solutions.com.sa\/about-solutions\/\" style=\"\" rel=\"noopener\">solutions by STC<\/a> said in a Tadawul <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/5n7twmab\" style=\"\" rel=\"noopener\">disclosure<\/a>.<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>The breakdown: <\/strong>The agreements include medium- and short-term facilities \u2014 USD 48 mn and EGP 1.1 bn five-year facilities and USD 36 mn and EGP 1.8 bn one-year facilities. Solutions is guaranteeing the whole package. <\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>Who\u2019s doling out the funds?<\/strong> Abu Dhabi Islamic Bank (ADIB), Bank ABC Egypt, Credit Agricole, Emirates NBD, Arab Bank, Abu Dhabi Commercial Bank (ADCB), Ahli United Bank, and Al Baraka Bank are all partaking in the EGP facilities. Meanwhile, Bank ABC Bahrain, Ahli United Bank Bahrain, and ADCB UAE will provide the USD facilities.<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>Advisors:<\/strong> ADIB led the transaction and its investment banking arm <a target=\"_blank\" href=\"https:\/\/www.adib.eg\/Subsidiaries\/capital\" style=\"\" rel=\"noopener\">ADI Capital<\/a> was financial advisor.<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\">\n<p class=\"tag-border-left\">TANMEYAH SECURES EBRD FUNDING-<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>Tanmeyah is getting USD 10 mn from the EBRD: <\/strong>The European Bank for Reconstruction and Development (EBRD) will be granting EFG Holding\u2019s microfinance arm Tanmeyah the EGP equivalent of up to USD 10 mn \u2014 EGP 309 mn according to the official exchange rate \u2014 through two USD 5 mn senior unsecured loan to be on-lent to micro, small, and medium enterprises (MSMEs), the bank said in two separate statements (<a target=\"_blank\" href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/54994.html\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/55120.html\" style=\"\" rel=\"noopener\">here<\/a>). <\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>Loan 1: <\/strong>The first loan will target local MSMEs with a focus on undeserved segments with limited access to finance \u2014 50% of the loan will go towards women-led or owned businesses, especially those outside Greater Cairo and Alexandria. <\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>Loan 2: <\/strong>The second loan will be disbursed in two EGP 77-mn tranches and will be used for on-lending to private agriculture MSMEs in a \u201cgender-responsive manner.\u201d At least 70% of the loan will go to investments that fall under the EBRD\u2019s <a target=\"_blank\" href=\"https:\/\/www.ebrd.com\/what-we-do\/get.html\" style=\"\" rel=\"noopener\">Green Economy Transition<\/a>. <\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>Lots of EBRD funding to go around: <\/strong>This month, the multilateral lender <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/07a14d3c-9148-442d-8afb-e114505b3479\" style=\"\" rel=\"noopener\">completed its review<\/a> for a proposed USD 75 mn equity investment into Hassan Allam Utilities\u2019 green projects \u2014 the funding should be approved on 21 February. It <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4875ed54-e9de-46d1-978e-d90e410d1c3a\" style=\"\" rel=\"noopener\">also started disbursing<\/a> a senior loan of up to USD 50 mn for Turkish home appliances retailer Beko\u2019s USD 100 mn home appliance factory in the 10th of Ramadan. <\/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\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-holding\/\">EFG Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/giza-systems\/\">Giza Systems<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-telecom-company\/\">Saudi Telecom Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tanmeyah\/\">Tanmeyah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"614419\" 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=\"614419\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/efg-holding-acquires-global-standard-cybersecurity-certification\/\">\r\n                            EFG Holding acquires global standard cybersecurity certification                        <\/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\/02\/01\/efg-holding-acquires-global-standard-cybersecurity-certification\/\" 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\/02\/01\/efg-holding-acquires-global-standard-cybersecurity-certification\/')\">\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\/02\/01\/efg-holding-acquires-global-standard-cybersecurity-certification\/\">\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=EFG Holding acquires global standard cybersecurity certification&url=https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/efg-holding-acquires-global-standard-cybersecurity-certification\/\">\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\/02\/01\/efg-holding-acquires-global-standard-cybersecurity-certification\/&title=EFG Holding acquires global standard cybersecurity certification\">\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=EFG+Holding+acquires+global+standard+cybersecurity+certification+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F02%2F01%2Fefg-holding-acquires-global-standard-cybersecurity-certification%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\/02\/01\/efg-holding-acquires-global-standard-cybersecurity-certification\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2773.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"614420\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/efg-holding-acquires-global-standard-cybersecurity-certification\/2773-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2773.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2773.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2773.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2773.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-614419\" class=\"content-area-description single-story post-614419 post type-post status-publish format-standard has-post-thumbnail hentry category-kudos tag-cybersecurity tag-efg-holding tag-enterpriseam tag-financial-inclusion tag-financial-regulatory-authority tag-kudos 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\/2\/.b9c4a12d-d2ea-4b8f-812d-0952081787f0.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>EFG Holding is taking cybersecurity seriously:<\/strong> Our friends at EFG Holding have obtained an <a target=\"_blank\" href=\"https:\/\/www.iso.org\/standard\/27001\" style=\"\" rel=\"noopener\">ISO 27001 certification<\/a> \u2014 the globally recognised standard for establishing, implementing, maintaining, and improving an information security management system \u2014 the investment bank said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/2442.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The certificate \u201cunderscores EFG Holding\u2019s unwavering commitment to prioritizing the security and privacy of our customers and investors\u2019 information,\u201d the group\u2019s CEO Karim Awad said.<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>AND- Post for Investment receives innovation award: <\/strong>Egypt Post\u2019s investment arm, Post for Investment, was named the Most Innovative Private Equity Investment Firm in Egypt by the International Finance Awards, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/18.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>ALSO- FRA looks to boost financial inclusion among women: <\/strong>The Financial Regulatory Authority (FRA) has inked an MoU with the USAID-funded Women\u2019s Economic and Social Empowerment Program to work together to raise awareness of and promote long-term investing in the EGX, saving, microfinance, and microins. among women, according to an FRA <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0cj8496Nh1UjvMtG82BkeE8Ty1pF8RyZqVFrYv8nTx9eZRkjwtWBoNRCxdCoUXhKgl\" style=\"\" rel=\"noopener\">statement<\/a>. <\/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\/cybersecurity\/\">cybersecurity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-holding\/\">EFG Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-inclusion\/\">financial inclusion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kudos\/\">KUDOS<\/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=\"614421 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=\"614421\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/614421\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-614421\" class=\"content-area-description single-story post-614421 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;font-family:\" arial><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=\"614422\" 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=\"614422\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/more-economy-chatter-on-the-airwaves\/\">\r\n                            Egyptian talk shows continue their coverage of the economy, a bigger IMF package                        <\/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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              <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/more-economy-chatter-on-the-airwaves\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/15.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"614423\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/more-economy-chatter-on-the-airwaves\/15-jpg-31\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/15.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"15.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/15.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/15.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-614422\" class=\"content-area-description single-story post-614422 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-imf tag-last-nights-talk-shows wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.caf46a80-df1c-44a2-999a-87f985448fc9.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>It was another econ-heavy night to wrap up one very econ-heavy week<\/strong>, as the nation\u2019s talking heads continued their coverage of our IMF loan agreement.<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>A larger IMF package won\u2019t come easy: <\/strong>The Fund is \u201cseriously\u201d considering at least doubling our USD 3 bn loan agreement to USD 6-10 bn but that hinges on two factors \u2014 the government providing sufficient proof that it can bring inflation down to a single digit figure and having sufficient FX reserves to keep the EGP from freefalling when the CBE floats the currency, House Budget Committee head Fakhri El Fiqi told Yahduth Fi Misr\u2019s Sherif Amer (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=949505613406331\" style=\"\" rel=\"noopener\">watch, runtime: 4:22<\/a>). Amer also interviewed economist Mostafa Badra, who said that the IMF would increase the loan program proportionately with how much the central bank is willing to devalue the EGP (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1547599229363892\" style=\"\" rel=\"noopener\">watch, runtime: 7:40<\/a>).<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>Our FX shortage means price hikes all over: <\/strong>\u201cAs long as we have a USD problem, we\u2019ll have problems regarding everything else,\u201d Ala Masouleety\u2019s Ahmed Moussa said (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=dDVbUBCfxTg&ab_channel=SadaElbalad-%D8%B5%D8%AF%D9%89%D8%A7%D9%84%D8%A8%D9%84%D8%AF\" style=\"\" rel=\"noopener\">watch, runtime: 3:19<\/a>). His statement echoed across the airwaves with deputy head of the Federation of Egyptian Industries\u2019 (FEI) building materials industries division, Kamal El Dessouki telling Masaa DMC (watch, runtime: <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1338349890154334\" style=\"\" rel=\"noopener\">4:11<\/a> | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=940111603645821\" style=\"\" rel=\"noopener\">6:38<\/a>) that if the state doesn\u2019t bridge the gap between the official and black market USD rate \u201cnone of the commodity-related issues in Egypt will be solved.\u201d <\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>CBE says no new daily withdrawal caps here:<\/strong>The central bank\u2019s ceiling on cash withdrawals remains unchanged \u2014 at EGP 150k for both companies and individuals, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/2804.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> yesterday. This came following a number of local media reports that said otherwise. \u201cUnfortunately, media outlets were sharing rumors based on a dated central bank statement,\u201d Moussa said (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=OiJ6Emx3c1g&ab_channel=SadaElbalad-%D8%B5%D8%AF%D9%89%D8%A7%D9%84%D8%A8%D9%84%D8%AF\" style=\"\" rel=\"noopener\">watch, runtime: 7:10<\/a>). <\/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\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    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stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-i71f38o-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-rovsws6\" data-v=\"4\" data-block-id=\"rovsws6\"><div 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stk-block-column stk-column stk-block stk-jqsnpcg\" data-v=\"4\" data-block-id=\"jqsnpcg\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-jqsnpcg-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-jqsnpcg-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n               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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\">8<\/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\/02\/01\/japans-yazaki-kicks-off-construction-of-auto-parts-factory-plus-news-from-ora-developers-bosta-taqa-volt\/\">\r\n                            Japan\u2019s Yazaki kicks off construction of auto parts factory in Egypt\u2019s Fayoum                        <\/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 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The entirety of the factory\u2019s production is earmarked for exports, with plans to export EUR 100 mn worth of auto parts a year when fully operational by the end of 2024. The factory plans to kick off its first phase of production within the coming months. <\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>ICYMI- <\/strong>The General Authority for Freezones and Investment <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d03b6507-b649-4f52-9d7b-1c4bdf41420a\" style=\"\" rel=\"noopener\">approved the<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d03b6507-b649-4f52-9d7b-1c4bdf41420a\" style=\"\" rel=\"noopener\">golden license<\/a> for the factory in 2022, making Yazaki one of the first companies to receive a single-approval license in the country.<\/p><p class=\"tag-border-left\">REAL ESTATE-<\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>Ora goes to Iraq:<\/strong> Sawiris-owned Ora Developers inked an agreement with the Iraqi government to develop a new residential city in Iraq, according to the <a target=\"_blank\" href=\"https:\/\/www.ina.iq\/202255--.html\" style=\"\" rel=\"noopener\">Iraqi News Agency<\/a>. The project \u2014 dubbed Ali Al Wardi New City \u2014 will house 120k residential units and is set to be the biggest residential complex in Iraq. <\/p><p class=\"tag-border-left\">INVESTMENT-<\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>Bosta receives investment from Avanz Capital:<\/strong> Avanz Capital Egypt has made an undisclosed investment in local delivery startup Bosta through its SMEs-focused private equity vehicle Avanz Manara, alongside other institutional private capital firms, the two sides said in a joint <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/2713.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The funds will be used to aid Bosta\u2019s expansion in Saudi Arabia, CEO and co-founder of Bosta Mohamed Ezzat told Enterprise. Ezzat refused to disclose the value of the investment when we asked. <\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>Avanz Capital has more investments in the pipeline: <\/strong>Avanz Capital is looking to invest EGP 70-100 mn in three unnamed companies this year, managing director Haytham Wagih told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/01\/31\/1761671\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The firm also has plans to invest in MSMEs-, tech-, and fintech-focused funds. <\/p><p class=\"tag-border-left\">EVS-<\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>More EV charging stations incoming: <\/strong>Taqa Arabia\u2019s Taqa Power subsidiary Taqa Volt will develop, manage, operate, and maintain nine EV charging stations in New Cairo\u2019s Cairo Festival City, under an agreement inked with Al Futtaim Real Estate, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/2797.pdf\" style=\"\" rel=\"noopener\">statement<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/2797.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/avanz-capital-management\/\">Avanz Capital Management<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bosta\/\">Bosta<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/naguib-sawiris\/\">Naguib Sawiris<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ora-developers\/\">Ora Developers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/taqa-arabia\/\">TAQA 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=\"614427\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"614428\" 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=\"614428\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/saudi-aramco-could-float-more-shares-on-tadawul\/\">\r\n                            Aramco could float more shares on Tadawul                        <\/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   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       <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/saudi-aramco-could-float-more-shares-on-tadawul\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2794.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"614429\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/saudi-aramco-could-float-more-shares-on-tadawul\/2794-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2794.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2794.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2794.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2794.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-614428\" class=\"content-area-description single-story post-614428 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-aramco tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.b0e829f8-a339-455c-b6a8-342f83f2e536.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;font-family:\" arial> <strong>More Aramco shares up for grabs? <\/strong>Saudi Aramco will reportedly move forward with stalled plans to list more shares on the Tadawul \u2014 in what is set to be one of the biggest share sales in recent years, sources told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-31\/saudi-arabia-is-said-to-weigh-reviving-aramco-share-sale?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The oil giant is looking to raise at least SAR 40 bn (USD 10 bn) in proceeds from the offering. <\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>Aramco made its Tadawul debut in 2019<\/strong>, raising over USD 29 bn in what remains to be the biggest IPO in history. The company floated a 1.5% stake for a top of the range price of SAR 32 a piece in a transaction that valued the company at USD 1.87 tn.<\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>The Enterprise take: <\/strong>Aramco would have to float 1.3 bn shares if it were to raise the minimum target of SAR 40 bn at yesterday\u2019s closing share price. The share price fell 2.2% to SAR 30.6 per share on yesterday\u2019s close.<\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>ALSO WORTH NOTING-<\/strong><\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong> #1- World\u2019s largest sovereign fund had a bumper year: <\/strong>Norway's USD 1.6 tn sovereign wealth fund \u2014 the world\u2019s largest \u2014 reported record gains of NOK 2.2 tn (USD 213 bn) over 2023, driven by strong returns on investments. This is a stark contrast to the record losses the fund saw in 2022. (<a target=\"_blank\" href=\"https:\/\/www.nbim.no\/en\/the-fund\/news-list\/2024\/highest-return-in-kroner-ever\/\" style=\"\" rel=\"noopener\">Statement<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/01\/30\/worlds-largest-sovereign-wealth-fund-posts-record-213-billion-profit.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>#2- Binance customers wary: <\/strong>Beleaguered crypto exchange Binance will allow select traders to hold their assets with independent banks outside of the platform as customers seek safehaven custodians with regulatory oversight. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/54438320-3bef-4830-b5c6-630639b300e0\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>#3- China embarks on banking shake-up: <\/strong>Hundreds of Chinese rural banks will soon merge into regional lenders as part of a consolidation push, as the country\u2019s deepening property crisis has placed pressures on its USD 6.7 tn banking sector. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-31\/china-merges-hundreds-of-rural-banks-as-financial-risks-mount?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>) <\/p><p><a target=\"_blank\" id=\"t.59ae6eb7a9938e27c9dedd017c3af7f1da519999\" 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<tbody>\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;font-family:\" arial><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;font-family:\" arial>28,282<\/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;font-family:\" arial>-6.8% (YTD: +13.6%)<\/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;font-family:\" arial><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;font-family:\" arial>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;font-family:\" arial>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;font-family:\" arial><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;font-family:\" arial>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;font-family:\" arial>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;font-family:\" arial><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;font-family:\" arial>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;font-family:\" arial>20.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;font-family:\" arial><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;font-family:\" arial>11,797<\/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;font-family:\" arial>-1.6% (YTD: -1.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;font-family:\" arial><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;font-family:\" arial>9,508<\/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;font-family:\" arial>-0.1% (YTD: -0.7%)<\/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;font-family:\" arial><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;font-family:\" arial>4,169<\/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;font-family:\" arial>0.0% (YTD: +2.7%)<\/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;font-family:\" arial><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;font-family:\" arial>4,846<\/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;font-family:\" arial>-1.6% (YTD: +1.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;font-family:\" arial><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;font-family:\" arial>7,631<\/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;font-family:\" arial>-0.5% (YTD: -1.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;font-family:\" arial><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;font-family:\" arial>4,648<\/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;font-family:\" arial>-0.3% (YTD: +2.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;font-family:\" arial><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;font-family:\" arial>USD 81.71<\/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;font-family:\" arial>-1.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;font-family:\" arial><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;font-family:\" arial>USD 2.13<\/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;font-family:\" arial>+1.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;font-family:\" arial><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;font-family:\" arial>USD 2,057<\/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;font-family:\" arial>-0.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;font-family:\" arial><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;font-family:\" arial>USD 42,578<\/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;font-family:\" arial>-1.8% (YTD: +0.8%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p style=\"padding:0;margin:0;font-family:\" arial><strong>THE CLOSING BELL-<\/strong><\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>The EGX30 fell 6.8% at yesterday\u2019s close<\/strong> on turnover of EGP 8.4 bn (148.2% above the 90-day average). Foreign investors were net buyers. The index is up 13.6% YTD.<\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>In the red: <\/strong>Oriental Weavers (-15.9%), Talaat Moustafa Group (-15.3%), and Credit Agricole (-14.3%).<\/p><p style=\"padding:0;margin:0;font-family:\" arial><strong>Asian markets are mixed in early trading this morning <\/strong>after the US Federal Reserve yesterday poured cold water on expectations that it could start cutting interest rates as early as March. The ASX 200, Nikkei, and Shanghai were all in the red, while the Kospi and Hang Seng are (just barely) clinging to the green. Futures point to a soft opening in Europe, with most major benchmarks in the red, while Wall Street could shrug off concerns \u2014 futures for the Dow, Nasdaq, and S&amp;P 500 are all in the green at dispatch time this morning. <\/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\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"614430\" 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\/02\/01\/614430\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-614430\" class=\"content-area-description single-story post-614430 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;font-family:\" arial\";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;font-family:\" arial\";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;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">4 February (Sunday): The Senate meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">8 February (Thursday): Deadline to apply to Shalateen Mining Company\u2019s international gold exploration tender.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";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;font-family:\" arial\";\"=\"\">in El Gouna.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">15-16 February (Thursday-Friday): Brazilian President Luiz In\u00e1cio Lulada Silva meets with President El Sisi in Cairo. <\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span>19-21 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypes.com\/?utm_source=search&utm_medium=cpc&utm_term=egyps&utm_content=&utm_campaign=visprom\" style=\"\">Egypt Energy Show<\/a><\/span><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">, Egypt International Exhibition Center<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";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;font-family:\" arial\";\"=\"\"> in an international oil and gas tender.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:700;font-family:\" arial\";\"=\"\">MARCH<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";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;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">28 March (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">29 March (Friday): Egypt removed from JPMorgan Chase\u2019s Emerging Local Markets Index Plus.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";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;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">9 April (Tuesday): Eid El Fitr (TBC) (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span>15-21 April (Monday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.imfconnect.org\/content\/imf\/en\/annual-meetings\/FutureMeetings.html\" style=\"\">The IMF \/ World Bank Spring Meetings<\/a><\/span><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">25 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC) (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">28 April (Sunday): Grace period to ins. brokerage firms to comply with Law 215 for 2023 expires.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";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;font-family:\" arial\";\"=\"\"> on \u2018global collaboration, growth, and energy.\u2019<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">29 April (Monday): The government\u2019s car export scheme expires.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:700;font-family:\" arial\";\"=\"\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">1 May (Wednesday): National holiday in observance of Labor Day (TBC) (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">5 May (Sunday): Coptic Easter.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">6 May (Monday): Sham El Nessim (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">23 May (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";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;font-family:\" arial\";\"=\"\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:700;font-family:\" arial\";\"=\"\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">15-19 June (Saturday-Wednesday): Eid El Adha (TBC) (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";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;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:700;font-family:\" arial\";\"=\"\">JULY<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">7 July (Sunday): National holiday in observance of Islamic New Year (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">18 July (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";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;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:700;font-family:\" arial\";\"=\"\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";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;font-family:\" arial\";\"=\"\">, El Alamein International Airport.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">5 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">15 September (Sunday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";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;font-family:\" arial\";\"=\"\">, Samarkand, Uzbekistan.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:700;font-family:\" arial\";\"=\"\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">6 October (Sunday): Armed Forces Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">17 October (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span>21-27 October (Monday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.imfconnect.org\/content\/imf\/en\/annual-meetings\/FutureMeetings.html\" style=\"\">The World Bank and IMF annual meetings<\/a><\/span><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:700;font-family:\" arial\";\"=\"\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">21 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:700;font-family:\" arial\";\"=\"\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">26 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:700;font-family:\" arial\";\"=\"\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">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;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">February 2024: Egypt will sign a USD 1.5 bn financing agreement with the International Islamic Trade Finance Corporation (ITFC).<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span>February 2024: Funds from the Islamic Development Bank for the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4fbed47f-67d7-4a25-ac45-4dc2dccce283\" style=\"\">high speed electric railway<\/a><\/span><span style=\"font-weight:400;font-family:\" arial\";\"=\"\"> will get the sign off. <\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">1Q 2024: Egyptian-Qatari Joint Supreme Committee.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">1Q 2024: Opening of the newly developed Pyramids Plateau in Giza.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";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;font-family:\" arial\";\"=\"\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";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;font-family:\" arial\";\"=\"\"> of Beni Suef combined-cycle power plant.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">1H 2024: Gov\u2019t expects to finalize sale of four water desalination plants.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">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;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">2H 2024: Gov\u2019t to launch the Cairo Ring Road BRT buses.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";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;font-family:\" arial\";\"=\"\"> the World Urban Forum (WUF12).<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">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;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">2024: Standard Chartered Bank to open a branch in Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:700;font-family:\" arial\";\"=\"\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:700;font-family:\" arial\";\"=\"\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";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;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:700;font-family:\" arial\";\"=\"\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:700;font-family:\" arial\";\"=\"\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><span style=\"font-weight:400;font-family:\" arial\";\"=\"\">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>CBE meeting today | Fed holds rates | Erdogan to visit | EGX30 falls | IMF\u2019s regional outlook.<\/p>\n","protected":false},"featured_media":614408,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-614407","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"e5bbdac2-633e-4697-a9fa-c3a89c6850cf","teaser":"CBE meeting today | Fed holds rates | Erdogan to visit | EGX30 falls | IMF\u2019s regional outlook.","photo_url":"https:\/\/ent.news\/2024\/2\/13.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium 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