{"id":614592,"date":"2024-02-05T00:00:00","date_gmt":"2024-02-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=614592"},"modified":"2025-12-17T03:39:14","modified_gmt":"2025-12-17T03:39:14","slug":"more-speculation-on-our-imf-package","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/more-speculation-on-our-imf-package\/","title":{"rendered":"More speculation on our IMF package"},"content":{"rendered":"<section id=\"614594\" 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=\"614594\">\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\/05\/pmi-figures-for-january-out-today\/\">\r\n                            Egypt\u2019s PMI figures for January out today                        <\/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\/05\/pmi-figures-for-january-out-today\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n   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data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"261.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/261.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/261.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-614594\" class=\"content-area-description single-story post-614594 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-pmi 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\/.f68f717c-4058-4e05-963f-fd1fe4f00dd3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, ladies and gentlemen, and happy Monday. <\/strong>The news flow has slowed down a little bit today as everyone sits tight waiting for the IMF agreement. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- The 2024 Grammys were still underway as we hit dispatch. <\/strong>Music\u2019s biggest night kicked off late last night and some of the biggest awards have already been handed out \u2014- Miley Cyrus took home best pop solo performance for her single Flowers and Taylor Swift won best pop vocal album for Midnights. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** <\/strong><strong>Wait for our full coverage in today\u2019s EnterprisePM. <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PSA-<\/strong><strong>The state\u2019s foreign investment portal is here: <\/strong>Foreign investors can now inquire about potential investments in the country\u2019s new cities \u2014 on the provision that they invest USD transferred from abroad \u2014 through the New Urban Community Authority\u2019s (NUCA) <a target=\"_blank\" href=\"https:\/\/foreigninvest.newcities.gov.eg\/?fbclid=IwAR2OgBgOQnPNBugq0WQnr-VLHyMjAVpkxU4C1vyCI6EuRqDD1CANZsIhPp0#\/\" style=\"\" rel=\"noopener\">foreign investment portal<\/a> that went live yesterday, according to a Housing Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02e8hq79NynXCTF4yc7cgM4Ayk8gYWRPqU39ButtXENxbDXFzAKpXyMGFTM39prszdl\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p><p class=\"tag-border-left\">DATA POINT<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a><strong>Egypt\u2019s agricultural exports hit a record high of 7.4 mn tons in 2023<\/strong>, almost 1 mn tons up from the year before and bringing in a total USD 3.7 bn, Agriculture Minister El Sayed El Quseir told the Senate. Citrus fruits, potatoes, and onions led the country\u2019s exports for the year.<\/p><p class=\"tag-border-left\">HAPPENING TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- It\u2019s PMI day: <\/strong>S&amp;P Global will publish Egypt\u2019s PMI figures for January at around 7:15am CLT this morning. The index last <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&amp;id=ab6855d5ca&amp;e=3a5d1ae863\" style=\"\" rel=\"noopener\">clocked in<\/a> at 48.5 in December, marking the 37th straight month the country's non-oil economy has been in contraction.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- CBE to hold USD T-bill auction: <\/strong>The Central Bank of Egypt (CBE) will auction USD 1 bn worth of one-year T-bills today with settlement scheduled for the next day, according to data on its website.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The first auction of the year: <\/strong>The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f76fe194-f334-4f04-9a02-290f10fb406f\" style=\"\" rel=\"noopener\">CBE last auctioned off USD T-bills<\/a> on the last day of 2023, selling USD 850 mn of USD-denominated one-year treasury bills at an average yield of 5.149% to refinance existing debt.<\/p><p class=\"tag-border-left\">HAPPENING THIS WEEK- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#1- Attention, bookworms: <\/strong>The Cairo International Book Fair closes its doors tomorrow. If you haven\u2019t gotten the chance to visit the fair yet, you can check it out today or tomorrow between 10am to 8pm. The fair is being held at the Egypt International Exhibitions Center. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Gold tender deadline: <\/strong>The deadline for the \u2014 <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&amp;id=69343b6c34&amp;e=3a5d1ae863\" style=\"\" rel=\"noopener\">three times extended<\/a> \u2014 international gold and minerals <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&amp;id=bc6cd769ff&amp;e=3a5d1ae863\" style=\"\" rel=\"noopener\">exploration tender<\/a> from the Shalateen Mining Company is this Thursday.<\/p><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a><strong>Tech startups can now apply for DMZ\u2019s incubator program<\/strong> \u2014 an eight-month incubation program, offering grants of up to EGP 200k and coaching from experts. Eligible startups offer an innovative tech solution, have a \u201ccoachable team,\u201d have a full time founder, and are willing to work in Cairo. Applications are open until Tuesday, 12 March. Read more and apply <a target=\"_blank\" href=\"https:\/\/dmz.torontomu.ca\/dmz-cairo?utm_medium=email&amp;_hsmi=82370264&amp;_hsenc=p2ANqtz--cw-WPENzoqzemo01WjHYwUsKAq37BlIkC6Xh_y_70YgVecD_CPcKb0noc03FikyGtjE2xcHPF3GOmNJ9B1f21f71T_wxpAUhc9yaRVTjmMDZ5OcI&amp;utm_content=82370264&amp;utm_source=hs_email\" style=\"\" rel=\"noopener\">here<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s no single BIG STOR<\/strong><strong>Y ABROAD this morning<\/strong>, as is often a case on Mondays. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the business pages<\/strong>, you have your choice between a Financial Times report that <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/26ec70e8-38e6-453e-bc84-6737719b7b6b\" style=\"\" rel=\"noopener\">claims Iran used accounts at Lloyds and Santander to sidestep western sanctions<\/a> while the Wall Street Journal continues to go deep on Elon Musk with <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/elon-musk-tesla-money-drugs-board-61af9ac4\" style=\"\" rel=\"noopener\">The money and drugs that tie Elon Musk to some Tesla directors<\/a>. (Missed the first part? <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/elon-musk-illegal-drugs-e826a9e1\" style=\"\" rel=\"noopener\">Tap or click here.<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In foreign affairs: <\/strong>A range of global media organizations are trying to articulate a clear US foreign policy toward the Middle East as Secretary of State Antony Blinken heads back to this part of the world. The New York Times\u2019 Tom Friedman is still pushing his notion of a \u201cBiden Doctrine,\u201d while the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/u-s-pairs-military-action-with-diplomacy-in-effort-to-reshape-middle-east-62bbb3eb\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> writes that Washington is \u201cpairing military action with diplomacy\u201d in a bid to reshape our corner of the world. The pillars: \u201crolling back Iranian influence by resolving Gaza conflict, pushing Israel-Saudi normalization, and establishing a Palestinian state.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US struck Houthi positions in Yemen <\/strong>for a <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/02\/04\/world\/middleeast\/us-mideast-strikes-blinken.html\" style=\"\" rel=\"noopener\">third day in a row<\/a> yesterday. A top US national security official <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/yemens-houthis-vow-response-after-us-british-strikes-2024-02-04\/\" style=\"\" rel=\"noopener\">said yesterday<\/a> that wider attacks against Iran-backed groups in the region would continue. US strikes have so far hit groups in Yemen, Iraq, and Syria. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing, we looked at how the pharma industry is dealing with the perfect storm of mandatory pricing and FX pressures making it harder to do business. Check it out <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c30e2240-1d31-4e99-8861-e3901d5dc835\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2022\/10\/CIRA-Blackboard-Banner-B-1600.jpg\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue:<\/strong> We take a look at what Egypt is doing to increase its number of STEM system schools.<\/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\/pmi\/\">PMI<\/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=\"614596 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=\"614596\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/614596\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-614596\" class=\"content-area-description single-story post-614596 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2652.jpg?ssl=1\"><\/a><\/span><\/p><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=\"614597\" 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=\"614597\">\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\/05\/goldman-sachs-morgan-stanleys-two-cents-on-our-imf-agreement\/\">\r\n                            Goldman Sachs, Morgan Stanley weigh in on Egypt\u2019s IMF agreement                        <\/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\/05\/goldman-sachs-morgan-stanleys-two-cents-on-our-imf-agreement\/\" 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\/05\/goldman-sachs-morgan-stanleys-two-cents-on-our-imf-agreement\/')\">\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\/05\/goldman-sachs-morgan-stanleys-two-cents-on-our-imf-agreement\/\">\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 Sachs, Morgan Stanley\u2019s two cents on our IMF agreement&url=https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/goldman-sachs-morgan-stanleys-two-cents-on-our-imf-agreement\/\">\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\/05\/goldman-sachs-morgan-stanleys-two-cents-on-our-imf-agreement\/&title=Goldman Sachs, Morgan Stanley\u2019s two cents on our IMF agreement\">\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+Sachs%2C+Morgan+Stanley%E2%80%99s+two+cents+on+our+IMF+agreement+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F02%2F05%2Fgoldman-sachs-morgan-stanleys-two-cents-on-our-imf-agreement%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\/05\/goldman-sachs-morgan-stanleys-two-cents-on-our-imf-agreement\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/260.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"614598\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/goldman-sachs-morgan-stanleys-two-cents-on-our-imf-agreement\/260-jpg-33\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/260.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"260.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/260.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/260.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-614597\" class=\"content-area-description single-story post-614597 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-goldman-sachs tag-imf tag-morgan-stanley 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\/.f68f717c-4058-4e05-963f-fd1fe4f00dd3.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>More predictions on our IMF package roll in: <\/strong>Goldman Sachs and Morgan Stanley both had things to say about our IMF package, hinting that we\u2019re moving closer to an agreement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Goldman Sachs sees a USD 12 bn loan in our future: <\/strong>Goldman Sachs sees the IMF increasing the size of our assistance program to USD 7 bn, the bank said in a note. The bank also sees the Egyptian government receiving some USD 5 bn from international and regional partners, bringing our total funding to USD 12 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Most expectations are within this range: <\/strong>While there hasn\u2019t been much of a consensus on the size of the package, Enterprise sources with knowledge have put it in the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08f51e36-cd3a-411d-a974-659fd3601066\" style=\"\" rel=\"noopener\">USD 6-9 bn ballpark<\/a>. Egypt has recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/31fdb523-76ff-461b-baa0-cad7d851ed96\" style=\"\" rel=\"noopener\">wrapped up<\/a> talks with an IMF delegation in Cairo where they made progress on the details of the agreement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IMF and Egyptian officials have reached a preliminary agreement <\/strong>on the new loan, which would include the long-stalled first and second reviews of our initial USD 3 bn agreement, according to Goldman Sachs, but the staff-level agreement may take a few weeks. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why the additional funds? <\/strong>Egypt faces a USD 8 bn financing gap and needs some USD 17 bn to stabilize the exchange rate, the bank said. This brings the country\u2019s total financing needs for the next four years to USD 25 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But it won\u2019t be enough: <\/strong>\u201cWe believe it is highly unlikely that the additional funding that will be made available to Egypt under the new program will cover [Egypt\u2019s financing needs],\u201d the bank said. The bank points to the state privatization program and other financing strategies to help fill what will remain of the financing gap. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Morgan Stanley take: <\/strong>The bank believes that the CBE\u2019s decision to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe7e3e78-d6e6-4ad9-b0ea-3f206b156039\" style=\"\" rel=\"noopener\">hike interest rates<\/a> by 200 basis points last Thursday paves the way for policymakers to devalue the EGP and seal the IMF agreement as the country moves to an \u201cinflation-targeting framework\u201d in line with the fund\u2019s requirement, the bank said in a report. The bank expects the CBE to enact a limited devaluation at first, before gradually scaling it up to a more flexible rate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The markets are in desperate need of some clarity: <\/strong>Just days after dipping to record lows in the parallel and derivative markets \u2014 changing hands at 70 to the USD \u2014 the EGP slightly strengthened with the USD currently changing hands for anywhere between EGP 48-56, according to local media. This discrepancy between prices is likely the result of the CBE\u2019s rate hike and anticipation of when Egypt and the IMF may wrap up their agreement sending markets into panic. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- I<\/strong><strong>nvestors <\/strong><strong>ditch EGX stocks in anticipation of devaluation: <\/strong>Egyptian stocks lost around EGP 40 bn of their market value on Sunday, falling to EGP 1.97 tn, as investors anticipated the movement of the EGP \/ USD exchange rate and parallel market prices, Naeem Brokerage\u2019s Allen Sandeep told <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/s23uxkur\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The EGP currently stands at anywhere between 62-66 to the USD on the parallel market, traders told Asharq. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Temporary dips: <\/strong>Egyptian stocks are moving in tandem with the black market exchange rate, Thndr Securities\u2019 Amr Elalfy said. \u201cEgyptian stocks are far from their true valuations,\u201d Elalfy said, adding that he expects stock prices to rise following the devaluation announcement and \u201cprovision of USD liquidity into the market.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/morgan-stanley\/\">Morgan Stanley<\/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=\"614599\" 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=\"614599\">\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\">Tax<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/govt-to-look-into-trimming-list-of-taxes-to-boost-local-industry-curb-inflation\/\">\r\n                            Egypt\u2019s government to look into trimming list of taxes to boost local industry, curb inflation                        <\/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\/05\/govt-to-look-into-trimming-list-of-taxes-to-boost-local-industry-curb-inflation\/\" 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\/05\/govt-to-look-into-trimming-list-of-taxes-to-boost-local-industry-curb-inflation\/')\">\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\/05\/govt-to-look-into-trimming-list-of-taxes-to-boost-local-industry-curb-inflation\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Gov\u2019t to look into trimming list of taxes to boost local industry, curb inflation&url=https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/govt-to-look-into-trimming-list-of-taxes-to-boost-local-industry-curb-inflation\/\">\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\/05\/govt-to-look-into-trimming-list-of-taxes-to-boost-local-industry-curb-inflation\/&title=Gov\u2019t to look into trimming list of taxes to boost local industry, curb inflation\">\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=Gov%E2%80%99t+to+look+into+trimming+list+of+taxes+to+boost+local+industry%2C+curb+inflation+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F02%2F05%2Fgovt-to-look-into-trimming-list-of-taxes-to-boost-local-industry-curb-inflation%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\/05\/govt-to-look-into-trimming-list-of-taxes-to-boost-local-industry-curb-inflation\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/184.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"614600\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/govt-to-look-into-trimming-list-of-taxes-to-boost-local-industry-curb-inflation\/184-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/184.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"184.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/184.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/184.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-614599\" class=\"content-area-description single-story post-614599 post type-post status-publish format-standard has-post-thumbnail hentry category-tax tag-enterpriseam tag-finance-ministry tag-tax 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\/.f68f717c-4058-4e05-963f-fd1fe4f00dd3.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The long list of taxes may get shorter?<\/strong> The government has formed a committee to look into reducing the long list of taxes, customs, and fees imposed on goods and services, a senior government source told Enterprise. The committee will meet this week to review a list of taxes and fees, the source added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The why: <\/strong>The proposed tax cuts seek to boost local industry, increase exports, attract new investments, and curb inflation by eliminating double taxation and redundant fees that see some goods taxed at up to 45%, the source explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How will FinMin make up for lost tax revenue? <\/strong>The Finance Ministry plans to bolster tax revenues by widening its tax base and clamping down on tax evasion, our source said. Moreover, a plan to scrap tax exemptions given to state companies could help the government raise an estimated EGP 600 bn, more than half of the annual EGP 1.1 tn it aims to collect in the current fiscal year. Taxes account for 80-85% of the government\u2019s total revenues, according to the source.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> The cabinet last week greenlit the executive regulations for the law <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48553fd4-3d0b-4e89-8f26-2684dcb59e21\" style=\"\" rel=\"noopener\">scrapping tax<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48553fd4-3d0b-4e89-8f26-2684dcb59e21\" style=\"\" rel=\"noopener\">exemptions<\/a> previously granted to state entities and public-sector companies and projects. The bill cancels long-criticized preferential treatment that tipped off the competition balance between public and private sectors and aims to level the playing field for investors.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"614601\" 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=\"614601\">\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\">PHARMA<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/pricier-meds-ahead\/\">\r\n                            Drugmakers want to raise prices amid FX crunch                        <\/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\/05\/pricier-meds-ahead\/\" 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\/05\/pricier-meds-ahead\/')\">\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\/05\/pricier-meds-ahead\/\">\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=Pricier meds ahead?&url=https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/pricier-meds-ahead\/\">\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\/05\/pricier-meds-ahead\/&title=Pricier meds ahead?\">\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=Pricier+meds+ahead%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F02%2F05%2Fpricier-meds-ahead%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\/05\/pricier-meds-ahead\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/241.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"614602\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/pricier-meds-ahead\/241-jpg-25\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/241.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"241.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/241.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/241.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-614601\" class=\"content-area-description single-story post-614601 post type-post status-publish format-standard has-post-thumbnail hentry category-pharma tag-egyptian-drug-authority tag-enterpriseam tag-pharma 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\/.f68f717c-4058-4e05-963f-fd1fe4f00dd3.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Drugmakers will meet next week with the<\/strong><strong>Egyptian Drug Authority (EDA) to request hiking th<\/strong><strong>eir prices<\/strong>, a source in the pharma sector with knowledge of the matter told Enterprise. Drugmakers want to increase prices by 30-50% in response to ongoing FX and raw materials shortages and higher shipping costs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale:<\/strong> Disruptions to shipping in the Red Sea have forced pharma companies to resort to the pricier air cargo alternative, the source tells us. Meanwhile, some 1.5k drugs \u2014 9% of the total 17k sold in Egypt \u2014 have been hit by the shortage of raw materials.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Further strains on the state budget:<\/strong> The price increases go for all pharma sales, those made to the private healthcare sector and the public healthcare sector. Pharma companies also want to ditch fix-price contracts with the government and have the state pay a 40% premium on already in effect contracts. Half of their desired increase \u2014 20% \u2014 has been approved, while the remainder of the hike is still pending approval, the source said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government is working to address the shortage: <\/strong>Prime Minister Moustafa Madbouly said earlier this week that his cabinet is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c30e2240-1d31-4e99-8861-e3901d5dc835\" style=\"\" rel=\"noopener\">working<\/a> to ensure the availability of pharma products and medical equipment, calling for an increase in reserves and stockpiles of critical meds.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-drug-authority\/\">Egyptian Drug Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"614603\" 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=\"614603\">\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\">A MESSAGE FROM HSBC<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/india-menat-corridor-has-usd-100-bn-in-untapped-trade-potential\/\">\r\n                            India-MENAT corridor has USD 100 bn in untapped trade potential                        <\/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\/05\/india-menat-corridor-has-usd-100-bn-in-untapped-trade-potential\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The report considers the current state of trade and investment and the key growth opportunities between India and five countries in MENAT \u2014 Egypt, Qatar, Saudi Arabia, T\u00fcrkiye, and the UAE.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cBuoyed by strong mutual interests, solid economic fundamentals, and enduring<\/strong><strong> historical ties<\/strong>, corporates and investors are looking at an extensive set of opportunities in both directions,<strong>\u201d <\/strong>said Regional Head of Commercial Banking, Middle East North Africa and T\u00fcrkiye (MENAT) Patricia Gomes at HSBC Bank Middle East.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Indian corporates succeeding in the Middle East: <\/strong>The Middle East\u2019s ambitious transformation plans and the region\u2019s youthful demographics \u2014 more than half of whom are under 30 years of age \u2014 are attracting Indian investment. Data from the International Trade Centre and HSBC analysis show there is an estimated USD 61 bn export potential for India in\u00ad key MENAT markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>India\u2019s increasing strength as a food and agricultural producer and exporter are<\/strong><strong> re-positioning the India-GCC trade and investments relationship.<\/strong> Technological developments are transforming the GCC's food and agriculture industry, and considerable sums are being invested to promote food security. The India-UAE food corridor has seen over USD 7 bn of investment since plans were initiated in 2019.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Indian diaspora in the GCC is deepening regional capital, talent, and technological<\/strong><strong> ties. <\/strong>Around 8.8 mn non-resident Indians now reside in the GCC, and represent the largest real estate investors in Dubai, overtaking British expats.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Outside of the GCC, India continues to do lucrative business in new areas of the<\/strong><strong> economy with the other countries in MENAT. <\/strong>In Egypt, Indian companies are investing in green hydrogen and electric vehicles, as well as in more traditional sectors such as food, chemicals, and tourism. India's automobile companies are also present in T\u00fcrkiye, where Indian manufacturers have also invested heavily into the packaging materials industry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MENAT corporates making inroads in India: <\/strong>India\u2019s strong economic fundamentals are attracting MENAT corporates that are expanding their trading relationships overseas, with an estimated export potential of over USD 51 bn from key MENAT countries into India.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Understanding India's expansive physical landscape is also helping MENAT corporates<\/strong><strong> narrow down their investments.<\/strong> Tier-1 cities are key drivers of India\u2019s economic growth and just six of these eight cities contributed 28% of India\u2019s GDP in 2022. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But don\u2019t rule out India\u2019s Tier-2 cities:<\/strong> \u201cIndia\u2019s Tier-2 cities have untapped potential for MENAT corporates considering lower operational costs, niches for specific industrial activities, or shifting ancillary operations,\u201d Gomes said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>India\u2019s place in the global economy is changing:<\/strong> While India is still a close trading partner for the MENAT region in goods such as spices, gold, and textiles, the South Asian country is also rising in global prominence in manufacturing, technology, and science. India\u2019s digital economy presents multiple promising investment options for MENAT corporates, underpinned by strong growth forecasts from a 0.5% share of GDP in 2010 to 13% by 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Trade agreements hold further promise:<\/strong> The trade and investment relationship between India and MENAT are set to increase also because of trade agreements like 2022\u2019s India-UAE Comprehensive Economic Partnership Agreement (CEPA), which was negotiated and concluded in just 88 days, reducing or eliminating tariffs in over 80% of bilateral product lines. In addition to this, the India-Middle East-Europe Economic Corridor (IMEC) announced in September 2023, is a further trade proposal which would connect the Middle East and Europe to India by new rail and shipping links.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/a-message-from-hsbc\/\">A MESSAGE FROM HSBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hsbc\/\">HSBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/india\/\">India<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/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=\"614605\" 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=\"614605\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/shoukry-talks-gaza-with-french-counterpart-stephane-sejourne\/\">\r\n                            Egypt\u2019s Foreign Minister Sameh Shoukry meets with French counterpart St\u00e9phane S\u00e9journ\u00e9                        <\/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\/05\/shoukry-talks-gaza-with-french-counterpart-stephane-sejourne\/\" 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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S\u00e9journ\u00e9 also called for a humanitarian ceasefire and for the relaunch of diplomatic talks over a two-state solution. Shoukry called for coordinated efforts to end the war and for a clear timetable for the establishment of a Palestinian state.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SPEAKING OF GAZA-<\/strong><strong> Israe<\/strong><strong>l strikes Rafah: <\/strong>Israel yesterday launched strikes on Gaza\u2019s southern city of Rafah \u2014 the last refuge for over a mn displaced Palestinians that has been dubbed a \u201c <a target=\"_blank\" href=\"https:\/\/news.un.org\/en\/story\/2024\/02\/1146157\" style=\"\" rel=\"noopener\">pressure cooker of despair<\/a> \u201d by the UN. The strikes came a day after the EU urged Israel not to press ahead with an assault on the city bordering Egypt. (<a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/mena\/palestine-israel\/2024\/02\/04\/israel-ignores-western-pleas-with-strikes-on-rafah-the-last-refuge-of-fleeing-gazans\/\" style=\"\" rel=\"noopener\">The National<\/a> | <a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/middle-east\/20240203-%F0%9F%94%B4-live-israel-launches-deadly-strikes-on-pressure-cooker-rafah-ahead-of-gaza-truce-push\" style=\"\" rel=\"noopener\">France24<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-palestinians-eu-gaza-rafah-62d7272225a016fd51122fd57cfcd04f\" style=\"\" rel=\"noopener\">Associated Press<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE, IN THE RED SEA- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Red <\/strong><strong>Sea disruptions are regionalizing the global oil market:<\/strong> Countries are looking to closer neighbors for oil shipments as Houthi attacks on vessels crossing the Red Sea drive up freight rates, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-04\/red-sea-danger-is-spurring-global-oil-buyers-to-go-local?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- US promises more attacks: <\/strong>The US plans to wage \u201cadditional strikes\u201d on Iran-backed groups in the region, White House national security advisor Jake Sullivan said on <a target=\"_blank\" href=\"https:\/\/www.nbcnews.com\/meet-the-press\/video\/u-s-intends-to-take-additional-strikes-on-iran-backed-targets-says-nsa-jake-sullivan-203574853508\" style=\"\" rel=\"noopener\">NBC News<\/a> last night. The US launched retaliatory attacks across Yemen, Iraq and Syria over the weekend in response to the killing of three US servicemen in Jordan last week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Not all in Washington are happy about US protection of foreign-flagged <\/strong><strong>vessels<\/strong>: While the US Navy currently protects all foreign-flagged ships passing along the Red Sea, some voices within Congress are calling for US ships to take priority, challenging the unilateral decision made by President Biden to offer equal protection to ships, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/02\/04\/us-political-division-on-red-sea-trade-security-is-getting-dangerous.html\" style=\"\" rel=\"noopener\">CNBC<\/a> reported. <strong>The problem with these demands?<\/strong> 97.2% of US trade is carried on vessels of a foreign identity. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/red-sea\/\">Red Sea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/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=\"614607\" 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=\"614607\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/eastern-company-reports-17-y-o-y-drop-in-bottomline-for-1h-fy-2023-24\/\">\r\n                            Egypt\u2019s Eastern Company reports 17% y-o-y drop in 1H FY 2023-24 bottomline due to fall in cigarette sales                        <\/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\/05\/eastern-company-reports-17-y-o-y-drop-in-bottomline-for-1h-fy-2023-24\/\" 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\/05\/eastern-company-reports-17-y-o-y-drop-in-bottomline-for-1h-fy-2023-24\/')\">\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\/05\/eastern-company-reports-17-y-o-y-drop-in-bottomline-for-1h-fy-2023-24\/\">\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=Eastern Company reports 17% y-o-y drop in bottomline for 1H FY 2023-24&url=https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/eastern-company-reports-17-y-o-y-drop-in-bottomline-for-1h-fy-2023-24\/\">\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\/05\/eastern-company-reports-17-y-o-y-drop-in-bottomline-for-1h-fy-2023-24\/&title=Eastern Company reports 17% y-o-y drop in bottomline for 1H FY 2023-24\">\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=Eastern+Company+reports+17%25+y-o-y+drop+in+bottomline+for+1H+FY+2023-24+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F02%2F05%2Feastern-company-reports-17-y-o-y-drop-in-bottomline-for-1h-fy-2023-24%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\/05\/eastern-company-reports-17-y-o-y-drop-in-bottomline-for-1h-fy-2023-24\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/229.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"614608\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/eastern-company-reports-17-y-o-y-drop-in-bottomline-for-1h-fy-2023-24\/229-jpeg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/229.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"229.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/229.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/229.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-614607\" class=\"content-area-description single-story post-614607 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-eastern-company tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.f68f717c-4058-4e05-963f-fd1fe4f00dd3.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Eastern Company\u2019s bottomline falls due to drop in cigarette sales:<\/strong> The tobacco giant saw its bottomline fall 17% y-o-y in the first half of the fiscal year 2023-2024 to EGP 2.9 bn, it said in its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/219.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The EGX-listed company attributed the fall in net income to \u201cdecreases in local cigarette sales segment volume by 43% y-o-y,\u201d which contributed to revenues dropping 20% y-o-y in the same period to EGP 7.9 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the company saw a rebound on a quarterly basis<\/strong>, recording a 58% q-o-q jump in net income in 2Q FY 2023-24 to EGP 1.8 bn. Revenue also increased on a quarterly basis, jumping 54% on the back of a 62% increase in the value of the local cigarette sales.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The Madbouly government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d42b0c32-513b-4c59-9cd3-ee95c9515f06\" style=\"\" rel=\"noopener\">completed<\/a> the sale of a 30% stake in Eastern Company in November for USD 625 mn to UAE-based Global Investment Holding \u2014 one of the largest transactions for the country\u2019s privatization strategy after it restarted the program last year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eastern-company\/\">Eastern Company<\/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=\"614609 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=\"614609\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/614609\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-614609\" class=\"content-area-description single-story post-614609 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/415.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"614610\" 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=\"614610\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/lamees-el-hadidi-explains-why-the-egp-has-strengthened-against-the-usd\/\">\r\n                            Egypt\u2019s EGP has strengthened against the USD \u2014 the nation\u2019s talking heads explain why                        <\/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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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/lamees-el-hadidi-explains-why-the-egp-has-strengthened-against-the-usd\/&title=Lamees El Hadidi explains why the EGP has strengthened against the USD\">\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=Lamees+El+Hadidi+explains+why+the+EGP+has+strengthened+against+the+USD+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F02%2F05%2Flamees-el-hadidi-explains-why-the-egp-has-strengthened-against-the-usd%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\/05\/lamees-el-hadidi-explains-why-the-egp-has-strengthened-against-the-usd\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/257.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"614611\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/lamees-el-hadidi-explains-why-the-egp-has-strengthened-against-the-usd\/257-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/257.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"257.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/257.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/257.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-614610\" class=\"content-area-description single-story post-614610 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-economy 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\/.f68f717c-4058-4e05-963f-fd1fe4f00dd3.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>It was a one-woman show on the airwaves last night<\/strong>, with Kelma Akhira\u2019s Lamees El Hadidi giving us the only coverage worth noting on recent volatility in the USD exchange rate on the parallel market. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGP \/ USD exchange rate on the black market is falling after last week\u2019s spike. <\/strong>The EGP strengthened slightly against the greenback for the second day in a row to reach 56-55 against the USD, compared to the never before seen EGP 70 rate it was trading at a few days ago, El Hadidi said (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=fr_V4vw_lik\" style=\"\" rel=\"noopener\">watch, runtime: 10:25<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Behind the fall: <\/strong>People believe that the state is in line for a fresh supply of USD, El Hadidi said. \u201cFor one, the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1714b038-3d78-4554-9eb5-39fd4d9807d3\" style=\"\" rel=\"noopener\">Ras El Hekma<\/a> development project \u2014 which hasn\u2019t actually been confirmed by the government yet \u2014 and upcoming financial packages from the IMF and EU have pushed people to believe that the CBE will pour more USDs into the banking sector, helping tame the black market exchange rate,\u201d El Hadidi explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cIt\u2019s clear that the parallel market is fragile. <\/strong>The parallel market exchange rate rises due to speculation, anxiety, and the lack of information and declines as rumors spread and expectations change over the imminent availability of USD,\u201d El Hadidi said. The solution to the current crisis lies in \u201cthe existence of a real economy that generates USD flows,\u201d she added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The gold market reacts: <\/strong>Local gold prices fell around EGP 800-1k per gram, coinciding with the decline in the price of the USD in the parallel market, El Hadidi added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND IN FOOTBALL NEWS- The Pharaohs part ways with their coach: <\/strong>The Egyptian Football Association has let go of the national team\u2019s Portuguese coach, Rui Vitoria, and appointed former Al Ahly coach Mohamed Youssef as the team\u2019s interim manager until a foreign coach is chosen. The decision came after the Pharaohs\u2019 disappointing Afcon performance, losing to DR Congo, El Hadidi explained (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=IVVNHimloPk\" style=\"\" rel=\"noopener\">watch, runtime: 11:25<\/a>). <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span 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decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" 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 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         class=\"\r\n                story-section            \"\r\n            id=\"614613\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/the-pyramid-of-menkaure-restoration-saga-continues\/\">\r\n                            The Pyramid of Menkaure restoration saga continues                        <\/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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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/213.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"614614\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/the-pyramid-of-menkaure-restoration-saga-continues\/213-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/213.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"213.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/213.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/213.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-614613\" class=\"content-area-description single-story post-614613 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-egyptology tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.f68f717c-4058-4e05-963f-fd1fe4f00dd3.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government\u2019s decision to reassess its controversial <\/strong><strong>pyramid renovation <\/strong><strong>project<\/strong><strong> has caught the attention of the international press: <\/strong><a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/live-news\/20240203-egypt-orders-review-of-pyramid-restoration-after-outcry\" style=\"\" rel=\"noopener\">Agence France-Presse<\/a> picked up a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/tourismandantiq\/posts\/pfbid028X3ivMGYYvP5Qh1xmjmacgxuvbBsx8cohsoX5k4nbxJrDmvfAkVPZdZYwKrmZMYHl\" style=\"\" rel=\"noopener\">statement<\/a> from the Tourism Ministry announcing that it has set up a committee to review the project to restore part of the granite later of the Pyramid of Menkaure after it sparked a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dd9c6a13-006a-4807-aa8f-605d45cc70e3\" style=\"\" rel=\"noopener\">public outcry<\/a>. The committee \u2014 which is chaired by renowned Egyptian archaeologist Zahi Hawass and includes a team of scientists and engineers hailing from Egypt, the US, Czech Republic, and Germany \u2014 is set to advise the ministry on whether to press ahead with the project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Rui Vitoria gets the boot: <\/strong>After Egypt exited Afcon with an 8-7 loss against DR Congo last week, officials sacked the Pharaohs\u2019 Portuguese manager, Rui Vitoria, the <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/sport\/africa\/68132348\" style=\"\" rel=\"noopener\">BBC<\/a> wrote yesterday. We have the details in the news well, above. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptology\/\">Egyptology<\/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=\"614615\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"614616\" 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=\"614616\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/news-of-more-freezones-flights\/\">\r\n                            Egyptian government wants to set up more freezones + Gulf Air is launching new flights 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\/05\/news-of-more-freezones-flights\/\" 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\/05\/news-of-more-freezones-flights\/')\">\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\/05\/news-of-more-freezones-flights\/\">\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=News of more freezones + flights&url=https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/news-of-more-freezones-flights\/\">\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\/05\/news-of-more-freezones-flights\/&title=News of more freezones + flights\">\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=News+of+more+freezones+%2B+flights+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F02%2F05%2Fnews-of-more-freezones-flights%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\/05\/news-of-more-freezones-flights\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/245.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"614617\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/news-of-more-freezones-flights\/245-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/245.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"245.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/245.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/245.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-614616\" class=\"content-area-description single-story post-614616 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-aviation tag-enterpriseam tag-manufacturing 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\/.f68f717c-4058-4e05-963f-fd1fe4f00dd3.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Eleven new freezones? <\/strong>The government has prepared a list of sites in 11 cities it plans to offer to investors to establish public freezones in a bid to attract foreign direct investments and boost exports, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02vZTGhDgpt5Mzh4Mv6wvvS62xRasPk8jtVVCwfbTXzManA5bAAhQCcDDFsNVq5ipDl\" style=\"\" rel=\"noopener\">statement<\/a>. The list includes land plots in 10th of Ramadan, New Alamein, Sadat City, New Borg El Arab, New October, New Obour, New Sohag, New Beni Suef, New Aswan, New Tiba, and Capital Garden City.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gulf Air announces new flights to Egypt: <\/strong>Gulf Air will launch direct flights to Alexandria and Sharm El Sheikh as well as France\u2019s Nice and Turkey\u2019s Bodrum this June, the Bahraini flag carrier announced on <a target=\"_blank\" href=\"https:\/\/twitter.com\/GulfAir\/status\/1753008214184976497\" style=\"\" rel=\"noopener\">X<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"614618\" 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=\"614618\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/chinas-fresh-promises-to-rejuvenate-its-faltering-stock-market-may-not-be-enough\/\">\r\n                            China\u2019s fresh promises to rejuvenate its faltering stock market may not be enough                        <\/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\/05\/chinas-fresh-promises-to-rejuvenate-its-faltering-stock-market-may-not-be-enough\/\" 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\/05\/chinas-fresh-promises-to-rejuvenate-its-faltering-stock-market-may-not-be-enough\/')\">\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\/05\/chinas-fresh-promises-to-rejuvenate-its-faltering-stock-market-may-not-be-enough\/\">\n         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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/chinas-fresh-promises-to-rejuvenate-its-faltering-stock-market-may-not-be-enough\/&title=China\u2019s fresh promises to rejuvenate its faltering stock market may not be enough\">\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=China%E2%80%99s+fresh+promises+to+rejuvenate+its+faltering+stock+market+may+not+be+enough+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F02%2F05%2Fchinas-fresh-promises-to-rejuvenate-its-faltering-stock-market-may-not-be-enough%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                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data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/254.JPG?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/254.JPG?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-614618\" class=\"content-area-description single-story post-614618 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-china 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\/.f68f717c-4058-4e05-963f-fd1fe4f00dd3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Investors seem to be giving up on China\u2019s stock market:<\/strong> Over 40% of investors surveyed at a Goldman Sachs conference in Hong Kong last week think that Chinese equities are \u201cuninvestable,\u201d despite authorities vowing \u201cforceful\u201d measures to stabilize its falling stock market, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/88c027d2-bda6-4e52-97f3-127197aef1bd\" style=\"\" rel=\"noopener\">Financial Times<\/a> reported yesterday. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The measures:<\/strong> The country\u2019s Securities Regulatory Commission said on Sunday that it would introduce more medium- and long-term funds and would crack the whip on short selling and insider trading. This came two days after the benchmark CSI 300 fell 3.4%, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-04\/china-vows-to-prevent-abnormal-market-fluctuations-csrc-says?embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> wrote. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Triggering the sell off:<\/strong> Chinese and Hong Kong stocks <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/business-68125359\" style=\"\" rel=\"noopener\">have<\/a><a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/business-68125359\" style=\"\" rel=\"noopener\">shed USD 6 tn in value<\/a> since their peak in February 2021 amid the country\u2019s economic slowdown, spiraling property crisis, and cooler relations with the US. <\/p><p><a target=\"_blank\" id=\"t.2120395dbc54b12de616b3d9f3b253e2fb60c677\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27,574<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-3.0% (YTD: +10.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.83<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.96<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 30.85<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 30.95<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">21.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">22.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,963<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: 0.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,456<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: -1.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,229<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +4.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,959<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.1% (YTD: +4.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">7,616<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: -1.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,655<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +2.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 77.98<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.08<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,054<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 42,793<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: +1.4%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 3.0% at yesterday\u2019s close<\/strong> on turnover of EGP 5.1 bn (46.4% above the 90-day average). Local investors were net buyers. The index is up 10.8% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Ibnsina Pharma (+11.0%), Juhayna (+10.1%) and Palm Hills Development (+7.5%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Alex Containers and Cargo Handling (-11.2%), Oriental Weavers (-9.6%) and Sidi Kerir Petrochemicals (-9.5%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Leading Asian benchmarks are in the red in early trading this morning <\/strong>as traders digest worries about Chinese stocks and Jay Powell\u2019s remarks that the Fed will be \u201ccautious\u201d when it comes to rate cuts. They\u2019re also looking forward to the Lunar New Year holiday, which runs 10-17 February \u2014 and which often sees retail investors sell down positions to have more cash available for the break. Futures suggest stocks on Wall Street and in Europe will follow suit at the opening bell later today. <\/p><p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Beltone Financial Holding is set to <\/strong><strong>rebrand <\/strong><strong>to Beltone Holding<\/strong> after the company\u2019s shareholders signed off on the move during a general assembly last week, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/160.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/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\/china\/\">China<\/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<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"614620\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">12<\/div>\r\n\r\n                        <p class=\"f-graphik\">BLACKBOARD<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/what-is-egypt-doing-to-increase-its-number-of-stem-system-schools\/\">\r\n                            What is Egypt doing to increase its number of STEM system schools?<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/what-is-egypt-doing-to-increase-its-number-of-stem-system-schools\/\" 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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STEM subjects \u2014 science, technology, engineering, and mathematics \u2014 provide students with practical skills and knowledge that are not just needed by growing and emerging industries, but are also vital to addressing many of the pressing issues the world faces today, from climate change to preventable diseases.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Enter STEM schools:<\/strong> The STEM education system is an \u201cinterdisciplinary and applied program focused on the concept of educating students in four main disciplines: science, technology, engineering, and mathematics,\u201d Egyptian Education explains. STEM schools incorporate the subjects \u201cinto a coherent learning system focused on real-world implementations, rather than teaching them as distinct and isolated subjects.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So, what\u2019s in store locally? <\/strong>Last week, the Education Ministry launched a new USAID grant-supported national project to support the uptake of STEM schools in Egypt during a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fa251d63-f340-4886-b43d-3c792acc96a5\" style=\"\" rel=\"noopener\">two-day conference<\/a>. The conference dived into the future of STEM education in Egypt and ways to develop it with the participation of the private sector, along with both public and private universities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>60:40: <\/strong>The new education strategy wants to prioritize schools that focus 60% on practical studies and 40% on theoretical sciences, a source at the Education Ministry told Enterprise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt already has over ten years of experience with STEM schools:<\/strong>Egypt\u2019s first STEM system school was the <a target=\"_blank\" href=\"https:\/\/www.stemegypt.net\/\" style=\"\" rel=\"noopener\">STEM High School for Boys<\/a> in Sixth of October city, which was established in 2011 and was shortly followed by the Maadi <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/p\/Maadi-STEM-School-100084753454738\/?paipv=0&eav=AfbWTUMUBuDaUuDNSJ4q2STu_wECcRJC5mz8JYkcfNhOZTCG-NHsiCsvKQuZu9745SI&_rdr\" style=\"\" rel=\"noopener\">STEM High School for Girls<\/a> in Maadi in 2012. Now \u2014 thirteen years after the creation of Egypt\u2019s first STEM school \u2014 there are 11 STEM schools spread across the country in Cairo, Giza, Alexandria, Dakahlia, Kafr El Sheikh, Assiut, Red Sea, Luxor, Menoufia, Ismailia, and Gharbia. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US considers STEM projects fruitful investments: <\/strong>In 2017, USAID agreed on a USD 30 mnproject to build a STEM system network of schools in Egypt and has helped establish 20 STEM system schools in Egypt, the development agency said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/190.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a>. Plus, Egypt and the US have a long history of STEM knowledge sharing, including the establishment of the USAID-backed <a target=\"_blank\" href=\"https:\/\/2017-2020.usaid.gov\/egypt\/higher-education\/us-egypt-science-and-technology-joint-fund\" style=\"\" rel=\"noopener\">US-Egypt Science and Technology Joint Fund<\/a> to support researchers working in STEM, USAID Director Sean Jones said during the Education Ministry\u2019s STEM conference. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Students have the ability to make Egypt a STEM hub: <\/strong>The STEM system is in line with the current ranking of Egyptian students in international science, technology, and mathematics competitions, Private School Owners Association Chairman Badawy Allam told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">However, awareness is low amongst parents regarding the importance of STEM, which has negatively affected the uptake of STEM subjects and investment towards schools, Allam said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- The country\u2019s educational system is currently undergoing a complete restructuring<\/strong> in line with the <a target=\"_blank\" href=\"http:\/\/sdsegypt2030.com\/social-dimension\/education-training-pillar\/?lang=en\" style=\"\" rel=\"noopener\">education pillar of Egypt\u2019s Vision 2030 plan<\/a>, which places greater focus on the involvement of the private sector and promoting development, our Education Ministry source told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Additional educational models will also be rolled out: <\/strong>The ministry has identified three further educational models on which to expand, our source told us. The ministry wants to expand applied technology schools operated in coordination with private sector institutions, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4b3ac715-35a7-41d9-a853-6b4cb297e7c6\" style=\"\" rel=\"noopener\">Nile Schools<\/a>, which provide education services that meet international quality standards at more affordable price points than private international schools, and schools for outstanding students.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Vocational education is also getting a push: <\/strong>The Labor Ministry announced the launch of an initiative \u2014 dubbed <a target=\"_blank\" href=\"https:\/\/mehany.tafra-eg.org\/programs\" style=\"\" rel=\"noopener\">Mehany 2030<\/a> \u2014 to train and qualify 1 mn young Egyptians for local and foreign vocational markets, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid028RghrJeyEVdMdE4JVXb6yYfW7NNosmhrPJ1My7c9gtNrnNYcBwF3yAQ1UPECUracl\" style=\"\" rel=\"noopener\">Labour Ministry readout<\/a>. The initiative is aiming to train at least 27k individuals in its first phase, with at least 1k trainees from each governorate and integrate at least 50 private training centers into the initiative.<\/p>\n<p class=\"tag-border-left\">SO, WHAT\u2019S NEEDED FOR MORE STEM SCHOOLS IN EGYPT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A STEM school in every governorate:<\/strong> The Education Ministry wants to establish a STEM school in each of the country\u2019s 27 governorates. In addition to the 11 currently operating STEM schools, four new schools are under construction in Sharkia, Qalyubia, Beni Suef, and Qena. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More schools means more teachers: <\/strong>Egypt lacks a sufficient volume of STEM-trained teachers, Allam told us. Growing the number of specialist STEM teachers and school leaders will help strengthen the relationship between the Education Ministry and institutions, Education Minister Reda Hegazy said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Scholarships to promote STEM: <\/strong>The new initiative will use scholarships to encourage students to study subjects at university that meet the requirements and needs of local and global labor markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cut the red tape:<\/strong> Private schools require government-issued licenses to establish STEM systems, with only five private sector schools currently operating along the model in Egypt, Allam told us. The government should allow private and international schools to allocate a limited number of classrooms following the STEM system via a written request, which would only need government approval and not result in additional fees or licenses, Allam added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>The Madbouly government has loosened regulations on private language<\/strong><strong> schools with the aim of encouraging smaller players to invest in education. <\/strong>The government has reduced the minimum plot size for planned schools to 1.2k sqm, down from 2.5k sqm. (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02FRjkgzqFNyhjvjA4Jgg9mF6TqP6FXZ8WyDdsp99QDdFGSjdi6a16bkDukv2e5QrGl\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<li><strong>Six Egyptian universities made it on <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.webometrics.info\/en\" style=\"\" rel=\"noopener\">Webometrics\u2019<\/a><\/strong><strong> list of top 1k universities<\/strong><strong> across the world. <\/strong>Alexandria University and Cairo University lead the pack by making into the university ranking organization\u2019s top 500 establishments. (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0NSsjZUJXHxdY3mtEtUdmjeLzxkfkyGcCko5FYijZXX5JxFTrVCJVFmV9vwCzUji2l\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/blackboard\/\">Blackboard<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education-ministry\/\">Education Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/reda-hegazy\/\">Reda Hegazy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/stem\/\">STEM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"614622\" 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\/05\/614622\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-614622\" class=\"content-area-description single-story post-614622 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">FEBRUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">8 February (Thursday): Deadline to apply to Shalateen Mining Company\u2019s international gold exploration tender.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11 February (Sunday): Deadline to apply for the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/39dc4a75-8ed5-46ed-a296-30a40cf2f166\" style=\"\">Chicago Booth Executive Program<\/a><\/span><span style=\"font-weight:400;\">in El Gouna.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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;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;\">, Egypt International Exhibition Center<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25 February 2024 (Sunday): Deadline to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1ec344c3-9e08-4b6a-9656-143e62bbf536\" style=\"\">bid for 23 blocks<\/a><\/span><span style=\"font-weight:400;\"> in an international oil and gas tender.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MARCH<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10 March (Sunday): First day of Ramadan (TBC). <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20 March (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a48ac77-0c93-4364-bc1f-c6abf5bea2ed\" style=\"\">End of sugar export ban<\/a><\/span><span>.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">28 March (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29 March (Friday): Egypt removed from JPMorgan Chase\u2019s Emerging Local Markets Index Plus.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">APRIL<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">9 April (Tuesday): Eid El Fitr (TBC) (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC) (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28-29 April (Sunday-Monday): Saudi Arabia hosts a World Economic Forum (WEF) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-arabia-host-world-economic-forum-meeting-april-2024-01-18\/\" style=\"\">meeting<\/a><\/span><span style=\"font-weight:400;\"> on \u2018global collaboration, growth, and energy.\u2019<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29 April (Monday): The government\u2019s car export scheme expires.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 May (Wednesday): National holiday in observance of Labor Day (TBC) (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5 May (Sunday): Coptic Easter.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 May (Monday): Sham El Nessim (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 May (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>29 May (Wednesday): Virtual launch of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.chicagobooth.edu\/executiveeducation\/programs\/management\/executive-program-el-gouna\" style=\"\">Chicago Booth Executive Program<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15-19 June (Saturday-Wednesday): Eid El Adha (TBC) (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 June (Sunday): June 30 Revolution Day (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">7 July (Sunday): National holiday in observance of Islamic New Year (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">18 July (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23 July (Tuesday): Revolution Day (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-5 September (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.airport-technology.com\/sponsored\/dates-announced-for-egypt-international-airshow-2024\/\" style=\"\">Egypt International Airshow<\/a><\/span><span style=\"font-weight:400;\">, El Alamein International Airport.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 September (Sunday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25-26 September (Wednesday - Thursday): The Asian Infrastructure Investment Bank\u2019s (AIIB) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aiib.org\/en\/news-events\/events\/annual-meetings\/2024\/index.html\" style=\"\">2024 annual meeting<\/a><\/span><span style=\"font-weight:400;\">, Samarkand, Uzbekistan.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 October (Sunday): Armed Forces Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17 October (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">January 2024: The Red Sea Ports Authority is set to finalize an agreement with the Abu Dhabi Ports Group for the operation and maintenance of the tourist passenger terminal in the Sharm El Sheikh Sea Port.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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;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;\"> will get the sign off. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2024: Egyptian-Qatari Joint Supreme Committee.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2024: Opening of the newly developed Pyramids Plateau in Giza.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>February-May: The Grand Egyptian Museum could officially <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/737b1347-f02b-4ee0-87c1-032c0c858611\" style=\"\">open to visitors<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>June 2024: Gov\u2019t expects to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cfdc99d8-291f-4b7c-8af8-8e1cccc74de5\" style=\"\">finalize sale<\/a><\/span><span style=\"font-weight:400;\"> of Beni Suef combined-cycle power plant.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1H 2024: Gov\u2019t expects to finalize sale of four water desalination plants.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1H 2024: The European Union is set to hold an investment conference in Egypt during spring.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2H 2024: Gov\u2019t to launch the Cairo Ring Road BRT buses.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>November 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LLPJRjsu6SZLwtRHuLmCQxoAZB3xaXVXH8aYkMSEH3ae4aW6JCZaPe5h5u9nKmcRl\" style=\"\">Egypt to host<\/a><\/span><span style=\"font-weight:400;\"> the World Urban Forum (WUF12).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2024: The launch of the high-speed train line linking Ain Sokhna with Al Alamein City. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2024: Standard Chartered Bank to open a branch in Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2Q 2025: Safaga Terminal 2 to start operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>PMI out today | Pricier meds | More freezones | More STEM schools in Egypt.<\/p>\n","protected":false},"featured_media":614593,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-614592","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"73f4ab0c-f175-4b1e-afaf-2d0ea0f6e724","teaser":"PMI out today | Pricier meds | More freezones | More STEM schools in Egypt.","photo_url":"https:\/\/ent.news\/2024\/2\/255.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>More speculation on our IMF package - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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