{"id":616232,"date":"2024-03-03T00:00:00","date_gmt":"2024-03-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=616232"},"modified":"2025-12-17T04:16:03","modified_gmt":"2025-12-17T04:16:03","slug":"analysts-and-investors-upbeat-on-egypts-economy-as-proceeds-from-ras-el-hekma-sale-enter-state-coffers","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/analysts-and-investors-upbeat-on-egypts-economy-as-proceeds-from-ras-el-hekma-sale-enter-state-coffers\/","title":{"rendered":"Analysts and investors upbeat on Egypt\u2019s economy as proceeds from Ras El Hekma sale enter state coffers"},"content":{"rendered":"<section id=\"616234\" 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=\"616234\">\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\/03\/03\/kuwait-finance-house-is-in-the-running-for-united-bank-acquisition\/\">\r\n                            Kuwait Finance House is in the running for United Bank acquisition                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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class=\"content-area-description single-story post-616234 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-kuwait-finance-house 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\/3\/.ff6a1bf5-68fb-4bde-856c-038fc33cf2e5.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, w<\/strong><strong>onderful people, and welcome to the last workweek before Ramadan<\/strong>, which we expect to begin on Sunday, 10 March or Monday, 11 March. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(Our money is on the Monday after the National Research Institute for Astronomy and Geophysics <a target=\"_blank\" href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/2\/518142\/Egypt\/Society\/Ramadan-to-begin--March-in-Egypt,-last--days-Astro.aspx\" style=\"\" rel=\"noopener\">called the ball<\/a>.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On everyone\u2019s mind: Is this the week the central bank takes action on the EGP? <\/strong>It\u2019s anyone\u2019s guess. We wouldn\u2019t have been surprised for it to have taken place last Thursday. This morning wouldn\u2019t surprise us, either. But a small part of us thinks the Sunday before Ramadan is just as likely \u2014 kick things off when the banks move to Ramadan hours to make things a bit more manageable. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One way or another: International sentiment on Egypt is improving<\/strong>, according to analysts we spoke with over the weekend. (More on that later this week.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>That all suggests Egyptian companies could have an easier time of it (and a bit more<\/strong><strong> investor interest) when they head to the EFG Hermes One on One<\/strong>, which gets underway tomorrow morning in Dubai and runs through Thursday. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The One on One will see some 670 investors from 250 global institutions meet<\/strong><strong> face-to-face with senior execs from more than 215 companies <\/strong>in industries spanning from food and fintech to banking and petrochemicals. Companies from 29 countries will be attending. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ll have coverage for you on the ground starting Tuesday <\/strong>and continuing into next week. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** If you\u2019re in Dubai and want to have coffee or pitch us on an interview<\/strong>, hit us up on <a target=\"_blank\" href=\"mailto:1x1@enterprisemea.com\" style=\"\" rel=\"noopener\">1x1@enterprisemea.com<\/a>. <\/p><p class=\"tag-border-left\">WATCH THIS SPACE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- KFH confirms United Bank interest:<\/strong> The Kuwait Finance House (KFH) has submitted anon-binding offer to get the required data on central bank-owned lender United Bank for assessment, the group said on Thursday in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/8.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>. The group still hasn\u2019t submitted a final offer. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Asharq Business said <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c67f1853-d7c9-4e27-9d53-120a5e3cdf7d\" style=\"\" rel=\"noopener\">last week<\/a> that KFH and Qatar Islamic Bank (QIB) have completedtheir due diligence for United Bank in December. The unconfirmed report put the odds in QIB\u2019s favor seeing as it seeks to enter the Egyptian market. United Bank was listed in the lineup of state companies and assets earmarked for privatization in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a94808c5-7a0c-4027-a786-804f2dc35954\" style=\"\" rel=\"noopener\">February 2023<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- AFC to back Egypt\u2019s upcoming bond issuance:<\/strong> The African Finance Corporation (AFC)plans to support Egypt\u2019s upcoming international bond issuance, be it through strengthening its position or investing in the bonds, AFC Executive Director for Financial Services Sanjeev Gupta told <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/4kpkbuyf\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. Gupta added that the AFC is holding talks with the Madbouly government to look into ways to support the central bank's FX requirements. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#3- Middle East tensions to impact aviation giants\u2019 capacity growth in 2024:<\/strong><a target=\"_blank\" href=\"https:\/\/www.iairgroup.com\/\" style=\"\" rel=\"noopener\">International Airlines<\/a><a target=\"_blank\" href=\"https:\/\/www.iairgroup.com\/\" style=\"\" rel=\"noopener\">Group<\/a> and <a target=\"_blank\" href=\"https:\/\/www.airfranceklm.com\/en\" style=\"\" rel=\"noopener\">Air France-KLM<\/a><a target=\"_blank\" href=\"https:\/\/www.airfranceklm.com\/en\" style=\"\" rel=\"noopener\">Group<\/a> have warned that the ongoing tension in the Middle East will constraint capacity growth throughout the year, as Israeli aggression on Gaza and the repeated Red Sea attacks scare away public and corporate flights, writes <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-29\/air-france-klm-swings-to-loss-as-geopolitics-hurt-travel-demand?leadSource=uverify%20wall\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The tension has caused flights to Egypt and Jordan to dry up, Air France-KLM said. <\/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\"><strong>#1- Shoukry is in Riyadh: <\/strong>Foreign Minister Sameh Shoukry is in the Saudi capital today as part of a two-stop Gulf trip, which first saw him visit Qatar. While in KSA, the minister will participate in a consultative meeting between Egypt and GCC members, which will address \u201cframeworks of consultation and coordination between Egypt and the Gulf states at the political and economic levels, as well as means to develop and enhance areas of cooperation between the two sides,\u201d according to a Foreign Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgyptEnglish\/posts\/pfbid0wqx7Tthor8XiMdz4MjNY8acaeM3GPTqwvpJbRpx8rhKpS5MBAd8E32buHGiAKg2zl\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- It\u2019s the last day of the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/egypthealthtourism.org\/?fbclid=IwAR3TUqXopOSPExfc_swVstH_23nIBel85A0JpU1VO_9Qq7ySfBWfIsKkgZA\" style=\"\" rel=\"noopener\">Egypt Health Tourism International Conference<\/a><\/strong> hosted by the Emigration Ministry. The conference, which kicked off yesterday, is bringing together government officials and medical, tourism, and medical tourism professionals to discuss ways to make Egypt a medical tourism destination.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The <\/strong><strong>Senate <\/strong><strong>is back in session following a two-week break:<\/strong> The senate will reconvene today and tomorrow to discuss a draft law on social solidarity and cash-based subsidies that seek to unify all forms of cash-based subsidies into one system.<\/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\"><strong>#1- <\/strong><strong>You <\/strong><strong>can now apply to the Australian government\u2019s master\u2019s scholarship program,<\/strong><strong>Australia Awards.<\/strong> The scholarship program, which grants funding for Egyptian, Sudanese, and Eritrean citizens to study climate change, agriculture and food security, mining and energy, foreign policy and international security, and gender, disability, and social inclusion, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/2186.pdf\" style=\"\" rel=\"noopener\">a statement (pdf)<\/a>. Applications are open until 30 April, 2024, and women, people with disabilities, and marginalized groups are encouraged to apply. You can <a target=\"_blank\" href=\"https:\/\/australiaawardsafrica.org\/\" style=\"\" rel=\"noopener\">find out more about the program here<\/a> and <a target=\"_blank\" href=\"https:\/\/australiaawardsafrica.org\/awards\/apply\/\" style=\"\" rel=\"noopener\">apply here<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Flat6Labs, Organon kick off <\/strong><strong>round two<\/strong><strong> of<\/strong><strong>femtech accelerator program:<\/strong>Applications are open until <strong>16 May<\/strong> to join the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d2174557-5b9c-485d-871c-7f6829acfa40\" style=\"\" rel=\"noopener\">second<\/a> round of the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/68.pdf\" style=\"\" rel=\"noopener\">Women\u2019s Health Accelerator Program (pdf)<\/a> run by Flat6Labs and women\u2019s healthcare firm Organon. You can register at this <a target=\"_blank\" href=\"https:\/\/www.flat6labs.com\/program\/womens-health-accelerator-program\/\" style=\"\" rel=\"noopener\">link<\/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\">RED SEA WATCH-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abandoned ship struck by Houthis<\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6e94cd2a-b292-4c7e-98c4-c805f0eed066\" style=\"\" rel=\"noopener\">last month<\/a><\/strong><strong> sinks: <\/strong>The UK-owned Rubymar that was carrying <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-03-02\/yemen-houthis-ship-sinks-with-fertilizer-cargo-after-attack-in-february\" style=\"\" rel=\"noopener\">41k tons of fertilizers<\/a> has sunk in the Red Sea, the Yemeni government said, warning of an \u201cenvironmental catastrophe\u201d in the Red Sea and calling Houthi attacks a \u201cthreat to international peace and security,\u201d the state news agency <a target=\"_blank\" href=\"https:\/\/www.sabanew.net\/story\/ar\/107637\" style=\"\" rel=\"noopener\">Saba<\/a> reports. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is the first time that a ship targeted by the Houthis has sank<\/strong> and could further hike up ins. premiums for shipping companies operating in the area and divert ships from sailing through the Suez Canal.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>SPEAKING OF SUEZ CANAL RECEIPTS-<\/strong><strong>The Suez Canal has lost over USD 700 <\/strong><strong>mn <\/strong><strong>in revenue since the start of the war on<\/strong><strong>Gaza<\/strong> compared to the same period a year earlier, according to estimates from Bloomberg Intelligence that were cited by <a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1763140150224158743\" style=\"\" rel=\"noopener\">Asharq Business<\/a>.<\/p><p class=\"tag-border-left\">WARWATCH- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel massacre of over 100 Gazans waiting for aid sparks international outcry:<\/strong> Israeli forces <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/dozens-killed-gaza-aid-queue-overall-death-toll-passes-30000-2024-02-29\/\" style=\"\" rel=\"noopener\">shot dead<\/a> at least 112 Palestinians and wounded at least 280 in Gaza as they waited for aid delivery on Thursday. When asked if the massacre will complicate ceasefire talks, US President Joe Biden told reporters, \u201cI know it will,\u201d who called the matter \u201ctragic and alarming\u201d on calls with President Abdel Fattah El Sisi and the Qatari Sheikh Tamim Bin Hamad Al Thani. El Sisi <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02qkexd3Ej98VpUPbkzMy7rPXvCGgcLEqbShX1PG39iCeaL6z4t3QqzWs4RVTfrS1bl?locale=ar_AR\" style=\"\" rel=\"noopener\">warned<\/a> Biden of the dangerous consequences of Israeli targeting of civilians on their call. France, Germany, the UK, and other nations have <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/pressure-mounts-inquiry-into-israeli-troops-firing-gazans-waiting-aid-2024-03-01\/\" style=\"\" rel=\"noopener\">called for<\/a> an international inquiry into the event.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ramadan truce up in the air: <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/gaza-ceasefire-talks-resume-cairo-sunday-egyptian-security-sources-say-2024-03-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> claims that two Egyptian security forces officials told the newswire that Israeli and Hamas delegations are expected to arrive in Cairo today to reconvene talks through mediators on a permanent ceasefire in Gaza, but another source said Israel would not send a delegation until it receives a full list of hostages who are still alive. <\/p><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>In an otherwise quiet morning for business news, Elon Musk is once again<\/strong><strong> in the headlines <\/strong>\u2014and for once it\u2019s not because of one of his social media posts. Three law firms that <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2cef01fd-4780-4fb2-a992-d0631aec73ff\" style=\"\" rel=\"noopener\">successfully argued<\/a> on the behalf of shareholders that Tesla CEO Elon Musk\u2019s USD 56 bn pay package was excessive are now seeking USD 6 bn in Tesla shares in legal fees. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/legal-team-who-voided-musks-tesla-pay-seek-fee-worth-595-bln-2024-03-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1512d925-7ded-4d67-993a-4fc03f2735fc\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/technology\/2024\/mar\/02\/lawyers-who-had-elon-musks-pay-dismissed-as-excessive-seek-6bn-in-tesla-shares\" style=\"\" rel=\"noopener\">The Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/lawyers-who-got-musk-pay-struck-down-seek-5-6-billion-in-tesla-stock-12e85b1b\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cWe recognize that the requested fee is unprecedented in terms of absolute size,\u201d<\/strong> the three law firms said in a filing. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO FROM THE MUSKOSPHERE-<\/strong><strong>Musk has filed a lawsuit against Microsoft-backed<\/strong><strong> OpenAI<\/strong> and its CEO Sam Altman, accusing the company of abandoning its original purpose of developing artificial intelligence \"for the broad benefit of humanity\" and pursuing financial gains instead. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/elon-musk-sues-openai-ceo-sam-altman-breach-contract-2024-03-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6a4cfcd6-b39d-46bb-b40a-2ace23682996\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-03-01\/musk-sues-openai-altman-for-breaching-firm-s-founding-mission\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/technology\/2024\/mar\/01\/elon-musk-sues-open-ai-profit-power-microsoft-sam-altman\" style=\"\" rel=\"noopener\">The Guardian<\/a>)<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kuwait-finance-house\/\">Kuwait Finance House<\/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=\"616236 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=\"616236\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/616236\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-616236\" class=\"content-area-description single-story post-616236 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\/3\/9.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Escape to Somabay,<\/span><span> where the sun-kissed shores await your arrival. Immerse yourself in the 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=\"616237\" 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=\"616237\">\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\/03\/03\/investors-turn-more-bullish-on-egypts-economy-as-proceeds-from-ras-el-hekma-sale-enter-state-coffers\/\">\r\n                            Investors turn more bullish on Egypt\u2019s economy as proceeds from Ras El Hekma sale enter state coffers                        <\/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\/03\/03\/investors-turn-more-bullish-on-egypts-economy-as-proceeds-from-ras-el-hekma-sale-enter-state-coffers\/\" target=\"_blank\">\n                    Open in new tab                    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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/investors-turn-more-bullish-on-egypts-economy-as-proceeds-from-ras-el-hekma-sale-enter-state-coffers\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/15.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"616238\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/investors-turn-more-bullish-on-egypts-economy-as-proceeds-from-ras-el-hekma-sale-enter-state-coffers\/15-jpg-32\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/15.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"15.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/15.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/15.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-616237\" class=\"content-area-description single-story post-616237 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-arqaam-capital tag-devaluation tag-economy tag-enterpriseam tag-fdi tag-fitch-ratings tag-foreign-exchange tag-imf 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\/3\/.91a0cc4e-3ff2-406f-bb26-b6c0e8a85273.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0b97fcf-95b0-4d39-86ae-0a4989221520\" style=\"\" rel=\"noopener\">USD 35 bn Ras El Hekma sale<\/a><\/strong><strong> has led to a strong shift in Egypt\u2019s<\/strong><strong> economic outlook, <\/strong>with once bearish investors and credit rating agencies <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f4ee0841-5f6c-415c-85cd-c0795cafd93d\" style=\"\" rel=\"noopener\">now changing<\/a> their forecasts for the economy. The EGP has continued to recover on the parallel market following the announcement that Egypt\u2019s FX reserves have seen a significant boost over the last few days from the first trances of money ADQ that <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5f60cce8-b78a-485b-815d-454d4245aaeb\" style=\"\" rel=\"noopener\">some believe<\/a> will help support the long-awaited currency devaluation and pave the way for further external financing and economic reforms.<\/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\">HOW MUCH HAS THE GOV\u2019T COLLECTED FROM THE SALE?-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On track to receive USD 15 bn within a week of the agreement signing: <\/strong>Egypt receivedUSD 10 bn for the Ras El Hekma agreement over the weekend<strong> \u2014 <\/strong>a USD 5 bn transaction was made on Tuesday followed by a similar one on Friday \u2014 Prime Minister Mostafa Madbouly announced in cabinet statements (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid086bpJe8pFUio25Tb3Aa2214hZy9fENbJXr9h3hxgBfmCw32x79NgU6qvLYaUnHr8l\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0goudmb9QpK9yZNVuZjUxUrwofinRDcthbQdiCqGWK7WMmsUgh8GZNx7z5tJ1xrbTl\" style=\"\" rel=\"noopener\">here<\/a>). A third tranche of USD 5 bn will be rolled from a previous UAE deposit at the CBE, Madbouly added. Meanwhile, the remaining USD 20 bn from the agreement will be deposited within the next two months \u2014 USD 6 bn of which will be from existing UAE deposits at the CBE.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wait, there\u2019s more?<\/strong> The government also received USD 520 mn on Thursday as part of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e88b903-fd4f-448e-b331-314accc55de9\" style=\"\" rel=\"noopener\">the<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e88b903-fd4f-448e-b331-314accc55de9\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e88b903-fd4f-448e-b331-314accc55de9\" style=\"\" rel=\"noopener\">USD 800 mn sale of seven historic hotels<\/a> to Talaat Moustafa Group\u2019s Icon Investments after the acquisition of a 51% stake in the hotels was finalized <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bebf4249-f687-4e82-9c1e-e0e920fe361a\" style=\"\" rel=\"noopener\">last month<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s also good news on the NDFs front: <\/strong>The EGP once again strengthened in the market for twelve-month non-deliverable forwards (NDFs) to reach 50 against the USD on Friday, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d2c654eb-a364-4722-837e-9fd4dd94f590\" style=\"\" rel=\"noopener\">down from<\/a> the high fifties recorded last week, <a target=\"_blank\" href=\"https:\/\/twitter.com\/asharqbegy\/status\/1763519555232477497?s=46&t=-JTomFjF7zfyHQWGsd4tSw\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reported.<\/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\">FITCH RATINGS WEIGHS IN-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fitch sees Egypt\u2019s FX liquidity improving following Ras El Hekma agreement: <\/strong>FitchRatings thinks that the agreement will \u201csignificantly improve\u201d Egypt\u2019s external financing position and its FX liquidity, paving the way for an adjustment of its exchange rate with a limited magnitude and a lower risk of currency overshooting. This would, in turn, enable Egypt to access an enhanced support package from the International Monetary Fund. \u201cThe scale of the FDI is large relative to Fitch\u2019s expectations when we downgraded Egypt\u2019s rating to \u2018B-\u2019, from \u2018B\u2019, with a Stable Outlook in November 2023,\u201d the rating agency said on its <a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/research\/sovereigns\/major-fdi-deal-improves-egypts-external-liquidity-outlook-01-03-2024\" style=\"\" rel=\"noopener\">website<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This doesn\u2019t mean we\u2019re off the hook just yet: <\/strong>Fitch sees Egypt\u2019s macroeconomic situationremaining difficult for the next two fiscal years due to high inflation and weak growth levels, despite expecting annual inflation to cool in 2H 2024. The rating agency also sees pressing fiscal challenges to remain, expecting interest costs to exceed 50% of government revenues in FY 2024-25.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What else did they say?<\/strong> \u201cThe [Ras El Hekma agreement] provides much needed breathingroom for Egypt\u2019s external finances and an opportunity to restore confidence, but the durability of the improvement will depend on the implementation of reforms to prevent renewed imbalances, such as a more flexible exchange-rate regime and policies to develop a more competitive export sector.\u201d<\/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\">ARQAAM CAPITAL\u2019S VIEW ON EGYPT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Arqaam Capital urges Egypt to act on FX adjustment: <\/strong>With the Ras El Hekma sale signedand the IMF agreement coming closer to fruition, Egypt should act on the FX adjustment in order to restore investors confidence, Senior Fixed Income Portfolio Manager at Arqaam Capital Fady Gendy said during an interview with <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2024-03-01\/arqaam-s-gendy-on-egypt-s-economic-outlook-video\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. While Egypt has the needed \u201cfirepower\u201d to go ahead with a full float, Gendy expects to see the EGP devalued to 40-45 against the USD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What he said:<\/strong> \u201cWe've seen how delays in reforms by Egypt in the past have cost EgyptEurobond market access and have also weighed on valuations of Egypt's [USD] bonds. More recently, we've become more bullish on Egypt as we felt that the country has increased in its geopolitical importance.\u201d<\/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\">IMF AGREEMENT INCHES CLOSER AND CLOSER<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s agreement over an expanded IMF loan program is \u201cclose,\u201d Yellen says:<\/strong> US Treasury Secretary Janet Yellen told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/yellen-says-travel-restrictions-west-bank-not-israels-interest-2024-03-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a> on Thursday that Egypt is inching closer to finalizing an agreement with the International Monetary Fund over expanding its current USD 3 bn loan program without giving further details. She also said that the US is \u201csupportive of the IMF helping Egypt.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The IMF has been hinting that an expanded loan program with Egypt would beready soon, with IMF Managing Director Kristalina Georgieva <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4b78fa6-7f06-4318-9b95-612976b1933c\" style=\"\" rel=\"noopener\">saying<\/a> that a finalized package would be ready \u201cin a few short weeks\u201d during the World Governments Summit in early February.<\/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\/arqaam-capital\/\">Arqaam Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/devaluation\/\">devaluation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fitch-ratings\/\">Fitch Ratings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"616239\" 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=\"616239\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/south-koreas-sk-ecoplant-to-build-usd-2-bn-green-ammonia-plant\/\">\r\n                            South Korea\u2019s SK ecoplant to build USD 2 bn green ammonia plant in Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/south-koreas-sk-ecoplant-to-build-usd-2-bn-green-ammonia-plant\/\" 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\/03\/03\/south-koreas-sk-ecoplant-to-build-usd-2-bn-green-ammonia-plant\/')\">\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\/03\/03\/south-koreas-sk-ecoplant-to-build-usd-2-bn-green-ammonia-plant\/\">\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=South Korea\u2019s SK ecoplant to build USD 2 bn green ammonia plant&url=https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/south-koreas-sk-ecoplant-to-build-usd-2-bn-green-ammonia-plant\/\">\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\/03\/03\/south-koreas-sk-ecoplant-to-build-usd-2-bn-green-ammonia-plant\/&title=South Korea\u2019s SK ecoplant to build USD 2 bn green ammonia plant\">\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=South+Korea%E2%80%99s+SK+ecoplant+to+build+USD+2+bn+green+ammonia+plant+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F03%2F03%2Fsouth-koreas-sk-ecoplant-to-build-usd-2-bn-green-ammonia-plant%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\/03\/03\/south-koreas-sk-ecoplant-to-build-usd-2-bn-green-ammonia-plant\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/65.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"616240\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/south-koreas-sk-ecoplant-to-build-usd-2-bn-green-ammonia-plant\/65-jpg-26\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/65.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"65.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/65.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/65.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-616239\" class=\"content-area-description single-story post-616239 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-energy tag-enterpriseam tag-green-ammonia tag-green-hydrogen tag-renewables tag-south-korea 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\/3\/.f22a9f71-cf76-4d9d-9f40-e6d79331749a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Details emerge on South Korea\u2019s plans to set up a green ammonia plant here:<\/strong>South Korean construction and plant operation company <a target=\"_blank\" href=\"https:\/\/www.skecoplant.com\/en\/\" style=\"\" rel=\"noopener\">SK ecoplant<\/a> will work with China\u2019s state-run construction giant <a target=\"_blank\" href=\"https:\/\/www.cscec.com\/\" style=\"\" rel=\"noopener\">China State Construction Engineering Corporation<\/a> (CSCEC) to build a green hydrogen and green ammonia plant in the Suez Canal Economic Zone (SCZone), according to a <a target=\"_blank\" href=\"https:\/\/news.skecoplant.com\/sk-ecoplant\/15263\/\" style=\"\" rel=\"noopener\">statement<\/a> from the company, which helped add color to a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6a033678-0ac6-4fac-b245-7d9b9e33cca8\" style=\"\" rel=\"noopener\">cabinet statement<\/a> released last week. The companies will set up and use 778 MWs of renewables \u2014 500 MW of solarenergy and 278 MW of onshore wind energy \u2014 to produce 50k tons of green hydrogen and 250k tons of green ammonia a year by 2029, when the project is slated to be fully operational. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>SK ecoplant was one of seven international and local companies to ink MoUs with anumber of state bodies to develop green hydrogen and renewable energy projects in the SCZone over the next ten years, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6a033678-0ac6-4fac-b245-7d9b9e33cca8\" style=\"\" rel=\"noopener\">worth a combined USD 41 bn<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The price tag?<\/strong> The project is expected to cost KRW 2.6 tn (c. USD 2 bn). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong>The Madbouly government will soon allocate a plot of land for the project, afterwhich the two companies will be able to conduct their feasibility studies and then decide on the exact size and timeline of the project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Part of a wider plan: <\/strong>SK ecoplant and CSCEC last year inked an MoU to \u201cdominate the globalrenewable energy market\u201d and work together on global renewable energy projects in Asia and Africa.<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-ammonia\/\">green ammonia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/south-korea\/\">South Korea<\/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=\"616241\" 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=\"616241\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/b-investments-granted-more-time-to-submit-mto-for-ofh-plus-agthia-ups-stake-in-abu-auf-basata-acquires-jordanian-fintech-stake\/\">\r\n                            B Investments granted more time to submit MTO for OFH. PLUS: Agthia ups stake in Abu Auf, Basata acquires Jordanian fintech stake                        <\/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\/03\/03\/b-investments-granted-more-time-to-submit-mto-for-ofh-plus-agthia-ups-stake-in-abu-auf-basata-acquires-jordanian-fintech-stake\/\" 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\/03\/03\/b-investments-granted-more-time-to-submit-mto-for-ofh-plus-agthia-ups-stake-in-abu-auf-basata-acquires-jordanian-fintech-stake\/')\">\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\/03\/03\/b-investments-granted-more-time-to-submit-mto-for-ofh-plus-agthia-ups-stake-in-abu-auf-basata-acquires-jordanian-fintech-stake\/\">\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=B Investments granted more time to submit MTO for OFH. PLUS: Agthia ups stake in Abu Auf, Basata acquires Jordanian fintech stake&url=https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/b-investments-granted-more-time-to-submit-mto-for-ofh-plus-agthia-ups-stake-in-abu-auf-basata-acquires-jordanian-fintech-stake\/\">\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\/03\/03\/b-investments-granted-more-time-to-submit-mto-for-ofh-plus-agthia-ups-stake-in-abu-auf-basata-acquires-jordanian-fintech-stake\/&title=B Investments granted more time to submit MTO for OFH. PLUS: Agthia ups stake in Abu Auf, Basata acquires Jordanian fintech stake\">\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=B+Investments+granted+more+time+to+submit+MTO+for+OFH.+PLUS%3A+Agthia+ups+stake+in+Abu+Auf%2C+Basata+acquires+Jordanian+fintech+stake+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F03%2F03%2Fb-investments-granted-more-time-to-submit-mto-for-ofh-plus-agthia-ups-stake-in-abu-auf-basata-acquires-jordanian-fintech-stake%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\/03\/03\/b-investments-granted-more-time-to-submit-mto-for-ofh-plus-agthia-ups-stake-in-abu-auf-basata-acquires-jordanian-fintech-stake\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/11.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"616242\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/b-investments-granted-more-time-to-submit-mto-for-ofh-plus-agthia-ups-stake-in-abu-auf-basata-acquires-jordanian-fintech-stake\/11-jpg-31\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/11.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"11.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/11.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/11.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-616241\" class=\"content-area-description single-story post-616241 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-abu-auf tag-agthia tag-b-investments tag-basata tag-enterpriseam tag-ma-watch tag-orascom-financial-holding 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\/3\/.5783a589-761b-4733-920b-86020b3dc43e.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a busy day for acquisitions<\/strong>, with Egyptian companies acquiring stakes overseas, foreign companies upping their stakes in Egyptian companies, and \u2014 for good measure \u2014Egyptian companies trying to acquire other Egyptian companies.<\/p>\n<p class=\"tag-border-left\">B INVESTMENTS\u2019 MTO FOR ORASCOM FINANCIAL KICKS OFF TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Orascom Financial Holding (OFH) shareholders have 30 trading sessions<\/strong><strong>starting today to respond to B Investments\u2019 bid<\/strong> to acquire up to 90% of the company via a share swap. The Financial Regulatory Authority agreed on Thursday to extend the MTO to be run from today until 15 April, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/6.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>B Investments\u2019 board in December <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a461dfe3-788c-4372-a4f4-12d212a4f53e\" style=\"\" rel=\"noopener\">agreed<\/a> to a share swap ratio of one BInvestments share for every 56.76 OFH shares. To enable the swap, the board approved raising its issued share capital from EGP 800 mn to EGP 1.2 bn through the issuance of 75 mn shares at a par value EGP 5 per share. The board also put the share premium per share at EGP 20.22 to accommodate the share swap ratio. The FRA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8cd4eae-93e7-4adf-bd18-78c279084700\" style=\"\" rel=\"noopener\">approved the MTO<\/a> last week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the making since last summer: <\/strong>B Investments had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e645d45-8b1e-4b12-b031-fddc5eb16c1a\" style=\"\" rel=\"noopener\">approved a plan<\/a> to submit the MTOback in June, but requested a deadline extension in September.<\/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\">AGTHIA UPS STAKE IN ABU AUF- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>UAE\u2019s Agthia has acquired an additional 10% in Abu Auf parent company for EGP 691 mn<\/strong><strong> (c. USD 22 mn)<\/strong>,bringing its total share in the Egyptian snack and coffee company to 70%, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/66.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a> from Agthia. Food and beverage firm Agthia <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bfd029da-b02c-4cc7-963e-40537643f0c3\" style=\"\" rel=\"noopener\">acquired a 60% stake in Abu Auf<\/a> in 2022.<\/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\">BASATA ACQUIRES STAKE IN JORDANIAN FINTECH PLAYER- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Basata, Jordan Kuwait Bank to snap up 30% of MadfoatCom:<\/strong>Fintech platform BasataHolding for Financial Payments and Jordan Kuwait Bank have put forward a binding offer to acquire a 30% stake in Jordanian bill payment provider <a target=\"_blank\" href=\"https:\/\/madfoat.com\/\" style=\"\" rel=\"noopener\">MadfoatCom<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/13.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from Basata. Madfoatcom\u2019s shareholders have accepted the offer and it is now pending regulatory approval in Jordan. The value of the acquisition was not disclosed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cWe are excited to be part of this unique transaction which will enhanceregional cooperation between Jordan and Egypt,\u201d Jordan Kuwait Bank CEO Haethum Buttikhi said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-auf\/\">Abu Auf<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agthia\/\">Agthia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/b-investments\/\">B Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/basata\/\">Basata<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-financial-holding\/\">Orascom Financial Holding<\/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=\"616243\" 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=\"616243\">\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\">FINANCIAL SERVICES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/redcon-properties-inks-egp-925-mn-syndicated-factoring-agreement\/\">\r\n                            Redcon Properties inks EGP 925 mn syndicated factoring 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\/03\/03\/redcon-properties-inks-egp-925-mn-syndicated-factoring-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\/03\/03\/redcon-properties-inks-egp-925-mn-syndicated-factoring-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\/03\/03\/redcon-properties-inks-egp-925-mn-syndicated-factoring-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=Redcon Properties inks EGP 925 mn syndicated factoring agreement&url=https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/redcon-properties-inks-egp-925-mn-syndicated-factoring-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\/03\/03\/redcon-properties-inks-egp-925-mn-syndicated-factoring-agreement\/&title=Redcon Properties inks EGP 925 mn syndicated factoring 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=Redcon+Properties+inks+EGP+925+mn+syndicated+factoring+agreement+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F03%2F03%2Fredcon-properties-inks-egp-925-mn-syndicated-factoring-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\/03\/03\/redcon-properties-inks-egp-925-mn-syndicated-factoring-agreement\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/63.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"616244\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/redcon-properties-inks-egp-925-mn-syndicated-factoring-agreement\/63-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/63.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"63.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/63.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/63.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-616243\" class=\"content-area-description single-story post-616243 post type-post status-publish format-standard has-post-thumbnail hentry category-financial-services tag-aur-leasing-and-factoring tag-beltone-holding tag-cairo-leasing-company tag-enmaa-finance tag-enterpriseam tag-financial-services tag-misr-finance tag-redcon-properties 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\/3\/.3a5bbdbb-dfd2-4066-8194-86f64a816ee9.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Redcon Properties signs the country\u2019s first joint factoring agreement:<\/strong> Real estate developer Redcon Properties has inked an EGP 925 mn syndicated factoring agreement with a number of local non-bank financial institutions, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/53.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> by Beltone Holding, which led the transaction through its subsidiary Beltone Leasing and Factoring. The agreement is the \u201cfactoring product of its kind in Egypt,\u201d said Beltone Leasing and Factoring CEO Amir Ghannam.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The players on board:<\/strong> Beltone Leasing and Factoring contributed some EGP 412.5 mn, while the remaining EGP 512.5 mn came from Cairo Leasing Corporation, Enmaa Finance, Misr Finance, and Aur Leasing and Factoring. Banque Misr acted as the escrow agent.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where will the money go?<\/strong> Redcon Properties will use the funds to expedite construction on its Golden Gate project in the Fifth Settlement, CEO Tarek El Gamal said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Redcon has big expansion plans:<\/strong> The company is looking into setting up sustainable residential complexes on the North Coast and in the Fifth Settlement. Redcon Properties also plans to ink contracts worth some EGP 18-20 bn this year, Redcon Properties Vice Chairman Ahmed Abdallah&nbsp;<a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3761063f-d4d3-4a20-9d32-e9b0bfaa47c3\" style=\"color: rgb(0, 115, 233); background-color: rgb(255, 255, 255);\" rel=\"noopener\">told us<\/a>&nbsp;last month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \"Signing the first joint factoring agreement in Egypt represents a milestone in the real estate industry,\u201d said Abdallah. \u201cIt makes us the first real estate development company to use this non-banking financial tool to finance our projects, opening the door for its use by other companies in the future to contribute to the sustainable growth of the real estate sector.\u201d<\/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\/aur-leasing-and-factoring\/\">Aur Leasing and Factoring<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone-holding\/\">Beltone Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cairo-leasing-company\/\">Cairo Leasing Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enmaa-finance\/\">Enmaa Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-finance\/\">Misr Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/redcon-properties\/\">Redcon Properties<\/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=\"616245\" 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=\"616245\">\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\">Real estate<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/sodic-ups-funds-allocated-for-2024-projects-66-in-anticipation-of-real-estate-sector-boom-following-ras-el-hekma-announcement\/\">\r\n                            SODIC ups funds allocated for 2024 projects 66% in anticipation of real estate sector boom following Ras El Hekma announcement                        <\/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\/03\/03\/sodic-ups-funds-allocated-for-2024-projects-66-in-anticipation-of-real-estate-sector-boom-following-ras-el-hekma-announcement\/\" 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\/03\/03\/sodic-ups-funds-allocated-for-2024-projects-66-in-anticipation-of-real-estate-sector-boom-following-ras-el-hekma-announcement\/')\">\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\/03\/03\/sodic-ups-funds-allocated-for-2024-projects-66-in-anticipation-of-real-estate-sector-boom-following-ras-el-hekma-announcement\/\">\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=SODIC ups funds allocated for 2024 projects 66% in anticipation of real estate sector boom following Ras El Hekma announcement&url=https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/sodic-ups-funds-allocated-for-2024-projects-66-in-anticipation-of-real-estate-sector-boom-following-ras-el-hekma-announcement\/\">\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\/03\/03\/sodic-ups-funds-allocated-for-2024-projects-66-in-anticipation-of-real-estate-sector-boom-following-ras-el-hekma-announcement\/&title=SODIC ups funds allocated for 2024 projects 66% in anticipation of real estate sector boom following Ras El Hekma announcement\">\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=SODIC+ups+funds+allocated+for+2024+projects+66%25+in+anticipation+of+real+estate+sector+boom+following+Ras+El+Hekma+announcement+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F03%2F03%2Fsodic-ups-funds-allocated-for-2024-projects-66-in-anticipation-of-real-estate-sector-boom-following-ras-el-hekma-announcement%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\/03\/03\/sodic-ups-funds-allocated-for-2024-projects-66-in-anticipation-of-real-estate-sector-boom-following-ras-el-hekma-announcement\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/36.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"616246\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/sodic-ups-funds-allocated-for-2024-projects-66-in-anticipation-of-real-estate-sector-boom-following-ras-el-hekma-announcement\/36-jpg-30\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/36.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"36.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/36.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/36.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-616245\" class=\"content-area-description single-story post-616245 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate tag-construction tag-enterpriseam tag-real-estate tag-sodic 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\/3\/.a85c2c98-099d-4831-acef-cdaf5bc9643a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>SODIC allocates over EGP 10 bn to accelerate its projects this year:<\/strong> Upmarket real estate developer SODIC has allocated some EGP 10 bn to accelerate the completion of its projects this year, <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/mpn592e2\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports. This reflects a 66% from the funds allocated for construction projects last year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The firm will also reopen sales of its units in many of its developments in the coming<\/strong><strong> days<\/strong>, after having suspended its sales in November due to instability in the real estate market complicating the pricing of units, SODIC General Manager Ayman Amer told the outlet.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This could signal a major shift in the developers\u2019 sentiments on the market:<\/strong> The rate of price increases of building materials began to decline following the government\u2019s announcement of the Ras El Hekma agreement last Friday, according to Asharq Business. SODIC, like many other real estate developers, had been hedging against price fluctuations by purchasing raw materials in bulk, spending a total of EGP 2 bn for its needs in 2024, Amer said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sodic\/\">SODIC<\/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=\"616247\" 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=\"616247\">\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\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/cabinet-approves-eu-eib-financing-new-golden-license-green-hydrogen-consultant\/\">\r\n                            Cabinet approves EU + EIB financing, new golden license, green hydrogen consultant                        <\/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\/03\/03\/cabinet-approves-eu-eib-financing-new-golden-license-green-hydrogen-consultant\/\" 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\/03\/03\/cabinet-approves-eu-eib-financing-new-golden-license-green-hydrogen-consultant\/')\">\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\/03\/03\/cabinet-approves-eu-eib-financing-new-golden-license-green-hydrogen-consultant\/\">\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=Cabinet approves EU + EIB financing, new golden license, green hydrogen consultant&url=https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/cabinet-approves-eu-eib-financing-new-golden-license-green-hydrogen-consultant\/\">\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\/03\/03\/cabinet-approves-eu-eib-financing-new-golden-license-green-hydrogen-consultant\/&title=Cabinet approves EU + EIB financing, new golden license, green hydrogen consultant\">\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=Cabinet+approves+EU+%2B+EIB+financing%2C+new+golden+license%2C+green+hydrogen+consultant+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F03%2F03%2Fcabinet-approves-eu-eib-financing-new-golden-license-green-hydrogen-consultant%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\/03\/03\/cabinet-approves-eu-eib-financing-new-golden-license-green-hydrogen-consultant\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/35.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"616248\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/cabinet-approves-eu-eib-financing-new-golden-license-green-hydrogen-consultant\/35-jpg-30\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/35.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"35.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/35.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/35.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-616247\" class=\"content-area-description single-story post-616247 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-cabinet-watch tag-enterpriseam tag-european-investment-bank tag-golden-licenses tag-green-hydrogen 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\/3\/.ce593649-746d-4b96-b6d4-f6eddc78213b.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Soft financing from the EIB, grant from EU get greenlight from ministers: <\/strong>Thecabinet, during its latest weekly meeting, approved EUR 135 mn in soft financing from the European Investment Bank (EIB) and a EUR 30 mn grant from the EU, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid033LdD2481Q4mMwTqyDCmeGPxwQDuoWU6q2T4Jg57fNLMqGnEtiBADACVMzwogwu9nl\" style=\"\" rel=\"noopener\">statement<\/a>. The funds will <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e453381c-9906-47b3-98fe-d454aab17fb7\" style=\"\" rel=\"noopener\">help finance<\/a> the Sustainable Green Industry project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Golden license granted: <\/strong>Limited liability company ICE LINX has been handed a goldenlicense to build and operate an 100% export-orientated food processing and packaging plant with investments of up to EGP 204 mn in New Borg El Arab. The factory is slated to be fully operational by the end of the year and its products will meet a 50% local component quota. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Green hydrogen consultant wanted, apply within: <\/strong>The Sovereign Fund of Egypt\u2019s request to contract a specialized international legal consultant to oversee the drafting of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6a033678-0ac6-4fac-b245-7d9b9e33cca8\" style=\"\" rel=\"noopener\">green hydrogen contracts<\/a> got the cabinet greenlight.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cabinet-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/european-investment-bank\/\">European Investment Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/golden-licenses\/\">golden licenses<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/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=\"616249\" 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=\"616249\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/e-finance-gb-corp-report-2023-results\/\">\r\n                            E-Finance, GB Corp report 2023 results                        <\/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\/03\/03\/e-finance-gb-corp-report-2023-results\/\" 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\/03\/03\/e-finance-gb-corp-report-2023-results\/')\">\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\/03\/03\/e-finance-gb-corp-report-2023-results\/\">\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=E-Finance, GB Corp report 2023 results&url=https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/e-finance-gb-corp-report-2023-results\/\">\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\/03\/03\/e-finance-gb-corp-report-2023-results\/&title=E-Finance, GB Corp report 2023 results\">\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=E-Finance%2C+GB+Corp+report+2023+results+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F03%2F03%2Fe-finance-gb-corp-report-2023-results%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\/03\/03\/e-finance-gb-corp-report-2023-results\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/60.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"616250\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/e-finance-gb-corp-report-2023-results\/60-jpg-23\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/60.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"60.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/60.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/60.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-616249\" class=\"content-area-description single-story post-616249 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-e-finance tag-earnings-watch tag-enterpriseam tag-gb-auto tag-gb-capital tag-gb-corp 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\/3\/.73d3d5d7-6a17-4a07-80de-cc452cbbbf48.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>G<\/strong><strong>B Corp and e-Finance are out with their earnings for 2023<\/strong>: e-Finance&nbsp;<span style=\"background-color: transparent;\">celebrated a record year, while GB Corp\u2019s release showed it had a solid year after taking into account its 2022 MNT-Halan stake sale.<\/span><\/p>\n<p class=\"tag-border-left\"> E-FINANCE REVENUES AND BOTTOMLINE UP IN 2023- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A record high year for e-Finance:<\/strong> State-owned fintech player e-Finance saw its net income after non-controlling interest rise 56% y-o-y to a record-high EGP 1.3 bn in 2023, according to its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/39.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Revenues jumped 48% y\u2013o\u2013y to EGP 3.9 bn in 2023, which the company attributes to \u201cbroad-based expansion across the group\u2019s subsidiaries.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a quarterly basis:<\/strong> Revenues rose 61% y-o-y to EGP 1.1 bn in 4Q 2023. Meanwhile, netincome after NCI fell 9% to record EGP 110.3 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the trend: <\/strong>Subsidiary e-Finance Digital Operations contributed the lion\u2019s share of the group\u2019s revenues for the year, making up 90% of the total count. The subsidiary saw its revenues increase 46% y-o-y to EGP 3.5 bn in 2023 \u201con the back of solid results in its cloud hosting services, its transaction revenue, as well as its build and operate services.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cWith strategic decisions, our extensive network of partnerships, andinnovative solutions, we are well positioned to capture opportunities and drive growth. I am confident that e-finance will not only maintain its robust performance but also create increased value for the group and its shareholders in the coming year,\u201d Chairman Ibrahim Sarhan said.<\/p>\n<p class=\"tag-border-left\"> GB CORP\u2019s 2023 REVENUES, INCOME DOWN AFTER 2022 MNT-HALAN SALE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GB Corp net revenues dipped 5% y-o-y to EGP 28.3 bn last year<\/strong>, while thecompany\u2019s net income fell some 81% y-o-y to EGP 1.9 bn, which it attributed to \u201cthe capital gain from the sale of a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c95034ed-0327-4eef-8d94-7329f3f97e13\" style=\"\" rel=\"noopener\">7.5% stake in MNT-Halan<\/a> \u201d realized in the last quarter of 2022, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/45.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Always read the small print: <\/strong>Excluding these gains in 2022, GB Corp\u2019s topline rose 12% y-o-y during 2023, while its bottomline was up 6% y-o-y.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a quarterly basis:<\/strong> The EGX-listed company\u2019s revenues were up 27% y-o-y in 4Q 2023 torecord EGP 8.8 bn, while its net income for the quarter was down 93% y-o-y to EGP 620 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The company\u2019s automotive assembly and distribution unit GB Auto \u2014 whichcontributed 84% of the company\u2019s revenues \u2014 saw its revenues up 10% y-o-y in 2023 to EGP 23.9 bn, \u201cunderpinned by robust consumer demand and price-mix tailwinds, against a backdrop of supply shortages,\u201d the company said. Revenues from passenger cars rose 127% y-o-y during 4Q 2023 and 3% y-o-y in the year as a whole, mainly driven by \u201cimproved pricing and an enhanced product mix supported by GB Auto\u2019s local assembly business.\u201d<\/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\/e-finance\/\">e-finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-auto\/\">GB Auto<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-capital\/\">GB Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-corp\/\">GB Corp<\/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=\"616251\" 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=\"616251\">\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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/efg-hermes-tops-egx-brokerage-league-table-in-february\/\">\r\n                            EFG Hermes leads EGX brokerage league table in February                        <\/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\/03\/03\/efg-hermes-tops-egx-brokerage-league-table-in-february\/\" 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\/03\/03\/efg-hermes-tops-egx-brokerage-league-table-in-february\/')\">\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\/03\/03\/efg-hermes-tops-egx-brokerage-league-table-in-february\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=EFG Hermes tops EGX brokerage league table in February&url=https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/efg-hermes-tops-egx-brokerage-league-table-in-february\/\">\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\/03\/03\/efg-hermes-tops-egx-brokerage-league-table-in-february\/&title=EFG Hermes tops EGX brokerage league table in February\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=EFG+Hermes+tops+EGX+brokerage+league+table+in+February+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F03%2F03%2Fefg-hermes-tops-egx-brokerage-league-table-in-february%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\/03\/03\/efg-hermes-tops-egx-brokerage-league-table-in-february\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1650.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"616252\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/efg-hermes-tops-egx-brokerage-league-table-in-february\/1650-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1650.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1650.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1650.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1650.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-616251\" class=\"content-area-description single-story post-616251 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-brokerage-league tag-capital-markets tag-ci-capital tag-efg-hermes tag-enterpriseam tag-mubasher-securities tag-thndr 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\/3\/.640f6613-e31b-492d-b726-13b5dd8291fe.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EFG Hermes topped the EGX brokerage league table in February<\/strong>, with a marketshare of 14.2%, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/27.pdf\" style=\"\" rel=\"noopener\">EGX figures (pdf)<\/a>. Thndr Securities came in second (8.4%), followed by CI Capital (7.3%), Mubasher Securities (5.6%), and Arabeya Online (4.2%). EFG had a monopoly over the top spot every month, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7e00ba88-9e68-4da7-954b-6631712ff711\" style=\"\" rel=\"noopener\">but one<\/a> last year.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/brokerage-league\/\">brokerage league<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mubasher-securities\/\">Mubasher Securities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/thndr\/\">Thndr<\/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=\"616253\" 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=\"616253\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/sinai-cement-appoints-tamer-ragheb-as-chairman\/\">\r\n                            Vicat Egypt\u2019s Sinai Cement appoints Tamer Ragheb as chairman                        <\/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\/03\/03\/sinai-cement-appoints-tamer-ragheb-as-chairman\/\" 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\/03\/03\/sinai-cement-appoints-tamer-ragheb-as-chairman\/')\">\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\/03\/03\/sinai-cement-appoints-tamer-ragheb-as-chairman\/\">\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=Sinai Cement appoints Tamer Ragheb as chairman&url=https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/sinai-cement-appoints-tamer-ragheb-as-chairman\/\">\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\/03\/03\/sinai-cement-appoints-tamer-ragheb-as-chairman\/&title=Sinai Cement appoints Tamer Ragheb as chairman\">\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=Sinai+Cement+appoints+Tamer+Ragheb+as+chairman+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F03%2F03%2Fsinai-cement-appoints-tamer-ragheb-as-chairman%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\/03\/03\/sinai-cement-appoints-tamer-ragheb-as-chairman\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/47.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"616254\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/sinai-cement-appoints-tamer-ragheb-as-chairman\/47-jpg-24\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/47.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"47.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/47.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/47.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-616253\" class=\"content-area-description single-story post-616253 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam tag-moves tag-sinai-cement 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\/3\/.aba67aa0-6afc-453d-b7a9-52df3ec8bfb6.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New chairman at the helm of Sinai Cement: <\/strong>Vicat Egypt\u2019s EGX-listed subsidiary SinaiCement has appointed Tamer Ragheb (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/tamer-ragheb-mba-52a5b022\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as chairman following the resignation of Mohamed El Kady, the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/2788.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. Ragheb enters the role following a five-year stint as the company\u2019s managing director. His career of over two decades also saw him serve as group CFO of mining outfit ASCOM. His appointment is yet to be approved by the general assembly.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Taking over from Ragheb:<\/strong> Pietro Cal\u00e0 (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/pietro-cal%C3%A0-5268b6\/?originalSubdomain=kz\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), the regional director of Vicat in India andKazakhstan, has been appointed as managing director of Sinai Cement in place of Ragheb. Cal\u00e0 has been with Vicat for 20 years, during which he also served as country manager of Vicat in Kazakhstan and managing director of the company\u2019s unit in Italy.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sinai-cement\/\">Sinai Cement<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"616255 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"616255\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/616255\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-616255\" class=\"content-area-description single-story post-616255 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/415.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"616256\" 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=\"616256\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/more-emirati-investments-coming-for-the-north-coast\/\">\r\n                            More Emirati investments coming for the North Coast?                        <\/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\/03\/03\/more-emirati-investments-coming-for-the-north-coast\/\" 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\/03\/03\/more-emirati-investments-coming-for-the-north-coast\/')\">\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\/03\/03\/more-emirati-investments-coming-for-the-north-coast\/\">\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=More Emirati investments coming for the North Coast?&url=https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/more-emirati-investments-coming-for-the-north-coast\/\">\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\/03\/03\/more-emirati-investments-coming-for-the-north-coast\/&title=More Emirati investments coming for the North Coast?\">\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=More+Emirati+investments+coming+for+the+North+Coast%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F03%2F03%2Fmore-emirati-investments-coming-for-the-north-coast%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\/03\/03\/more-emirati-investments-coming-for-the-north-coast\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/77.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"616257\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/more-emirati-investments-coming-for-the-north-coast\/77-jpg-26\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/77.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"77.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/77.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/77.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-616256\" class=\"content-area-description single-story post-616256 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-fdi 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\/3\/.82badb3d-3bb4-4a32-80f4-7c89def8bebf.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The promise of more Emirati investment <\/strong>once again captured the imagination of some of the nation\u2019s talking heads on the airwaves last night. On a more solemn note, the nation\u2019s hosts also turned their attention to the tragic death of Arish University student Naira Salah, which got considerable airtime across the channels yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The North Co<\/strong><strong>ast is on Al Habtoor\u2019s radar:<\/strong> Emirati businessman and CEO of Al Habtoor Group Khalaf Al Habtoor told Ala Mas\u2019ouleety\u2019s Ahmed Moussa that he is looking to invest in the North Coast and voiced his admiration for the region (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=QcFPVK5sOHw\" style=\"\" rel=\"noopener\">watch, runtime: 57:24<\/a>). Al Habtoor also confirmed that he intends to set up one to two schools in Cairo.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/ppo.gov.eg\/posts\/pfbid02m4wWCoTTMZ6zMcT2gj73x8RBFjdjqDhWYWa4AprteZ129vr4us3uN5WXRhewnw3gl\" style=\"\" rel=\"noopener\">Publi<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/ppo.gov.eg\/posts\/pfbid02m4wWCoTTMZ6zMcT2gj73x8RBFjdjqDhWYWa4AprteZ129vr4us3uN5WXRhewnw3gl\" style=\"\" rel=\"noopener\">c Prosecution<\/a><\/strong><strong> ordered the exhumation of <\/strong><strong>Arish University student<\/strong><strong> Naira Salah\u2019s<\/strong><strong> body<\/strong> for an autopsy to determine the cause of death amid reports of alleged foul play. Salah was reportedly blackmailed by a fellow student at the dormitory of the veterinary faculty before her tragic passing last Saturday, reportedly from poisoning. The story got coverage on Kelma Akhira (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1868571846931504&_rdc=1&_rdr\" style=\"\" rel=\"noopener\">watch, runtime: 8:08<\/a>), El Hekaya (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=6e5_6hMzoGs\" style=\"\" rel=\"noopener\">watch, runtime: 26:24<\/a>), and Ala Mas\u2019ouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=sXYmVOW0a4U\" style=\"\" rel=\"noopener\">watch, runtime: 17:22<\/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\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"616258\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-ka8vtve\" data-v=\"4\" data-block-id=\"ka8vtve\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ka8vtve-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ka8vtve-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            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src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-rx4g20p\" data-v=\"4\" data-block-id=\"rx4g20p\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-rx4g20p-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-rx4g20p-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img 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 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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=\"616259\">\r\n            \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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/ras-el-hekma-isnt-just-making-the-news-in-egypt\/\">\r\n                            Ras El Hekma isn\u2019t just making the news in Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" 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      \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/ras-el-hekma-isnt-just-making-the-news-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/29.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"616260\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/ras-el-hekma-isnt-just-making-the-news-in-egypt\/29-jpg-23\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/29.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"29.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/29.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/29.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-616259\" class=\"content-area-description single-story post-616259 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-enterpriseam tag-ras-el-hekma 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\/3\/.44fde341-7817-440d-b838-91c03b37fa8c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ras El Hekma is once again leading the conversation on Egypt in the&nbsp;<\/strong><strong><font face=\"Arial\">i<\/font>nternational press: <\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com.\/news\/articles\/2024-02-29\/egypt-hopes-35-billion-uae-deal-means-med-coast-tourist-bonanza\" style=\"\" rel=\"noopener\">Bloomberg<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.dw.com\/en\/why-are-the-gulf-states-buying-up-egypts-coastline\/a-68420961\" style=\"\" rel=\"noopener\">DW<\/a> are both out with pieces dissecting the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0b97fcf-95b0-4d39-86ae-0a4989221520\" style=\"\" rel=\"noopener\">transaction<\/a> and what it means for Egypt\u2019s tourist inflows and its \u201cstruggling economy.\u201d DW described the transaction as a \u201cturning point in the worst economic crisis Egypt has dealt with in decades.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** We\u2019ve got the latest updates on the Ras El Hekma agreement<\/strong>, and what it means for the economy and devaluation prospects in the news well, above.<\/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\/ras-el-hekma\/\">Ras El Hekma<\/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=\"616261\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"616262\" 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=\"616262\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/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\/03\/03\/cbe-issues-tighter-regulations-for-financial-leasing-firms-plus-hassan-allam-sumou-holding-jv-magic-land-al-hokair-egp-1-1-bn-entertainment-project-china-hands-over-satellite-center-egp-1-bn-a\/\">\r\n                            CBE issues tighter regulations for financial leasing firms. PLUS: Hassan Allam + Sumou Holding JV, Magic Land Al Hokair, EGP 1.1 bn entertainment project, China hands over satellite center, EGP 1 bn auto assembly plant                        <\/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\/03\/03\/cbe-issues-tighter-regulations-for-financial-leasing-firms-plus-hassan-allam-sumou-holding-jv-magic-land-al-hokair-egp-1-1-bn-entertainment-project-china-hands-over-satellite-center-egp-1-bn-a\/\" 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\/03\/03\/cbe-issues-tighter-regulations-for-financial-leasing-firms-plus-hassan-allam-sumou-holding-jv-magic-land-al-hokair-egp-1-1-bn-entertainment-project-china-hands-over-satellite-center-egp-1-bn-a\/')\">\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\/03\/03\/cbe-issues-tighter-regulations-for-financial-leasing-firms-plus-hassan-allam-sumou-holding-jv-magic-land-al-hokair-egp-1-1-bn-entertainment-project-china-hands-over-satellite-center-egp-1-bn-a\/\">\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=CBE issues tighter regulations for financial leasing firms. PLUS: Hassan Allam + Sumou Holding JV, Magic Land Al Hokair, EGP 1.1 bn entertainment project, China hands over satellite center, EGP 1 bn auto assembly plant&url=https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/cbe-issues-tighter-regulations-for-financial-leasing-firms-plus-hassan-allam-sumou-holding-jv-magic-land-al-hokair-egp-1-1-bn-entertainment-project-china-hands-over-satellite-center-egp-1-bn-a\/\">\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\/03\/03\/cbe-issues-tighter-regulations-for-financial-leasing-firms-plus-hassan-allam-sumou-holding-jv-magic-land-al-hokair-egp-1-1-bn-entertainment-project-china-hands-over-satellite-center-egp-1-bn-a\/&title=CBE issues tighter regulations for financial leasing firms. PLUS: Hassan Allam + Sumou Holding JV, Magic Land Al Hokair, EGP 1.1 bn entertainment project, China hands over satellite center, EGP 1 bn auto assembly plant\">\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=CBE+issues+tighter+regulations+for+financial+leasing+firms.+PLUS%3A+Hassan+Allam+%2B+Sumou+Holding+JV%2C+Magic+Land+Al+Hokair%2C+EGP+1.1+bn+entertainment+project%2C+China+hands+over+satellite+center%2C+EGP+1+bn+auto+assembly+plant+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F03%2F03%2Fcbe-issues-tighter-regulations-for-financial-leasing-firms-plus-hassan-allam-sumou-holding-jv-magic-land-al-hokair-egp-1-1-bn-entertainment-project-china-hands-over-satellite-center-egp-1-bn-a%2F\">\n                    WhatsApp                  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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/cbe-issues-tighter-regulations-for-financial-leasing-firms-plus-hassan-allam-sumou-holding-jv-magic-land-al-hokair-egp-1-1-bn-entertainment-project-china-hands-over-satellite-center-egp-1-bn-a\/44-jpg-27\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/44.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"44.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/44.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/44.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-616262\" class=\"content-area-description single-story post-616262 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-automotive tag-central-bank-of-egypt tag-china tag-egypt-china-relations tag-enterpriseam tag-financial-markets tag-hassan-allam-properties tag-leasing tag-real-estate tag-sumou-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.60e3fac7-48e8-4702-8cd6-5ffac9414eca.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">REGULATIONS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>CBE tightens controls over financial leasing:<\/strong> The Central Bank of Egypt has issued a fresh batch of regulations targeting the financing provided to financial leasing firms from banks, in a bid to better govern the funds given to financial leasing firms and mitigate associated risks, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/7.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>Under the regulations, the total credit facilities and investments made in the securitization portfolios of leasing companies should not exceed 5% of the bank\u2019s total portfolio of loans and credit facilities and no more than 1% of a bank\u2019s credit portfolio can be granted to a single financial leasing company.<\/p><p class=\"tag-border-left\">AUTOMOTIVE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new assembly plant in the pipeline: <\/strong>Local car distributor El Safa Automotive plans toset up an EGP 1 bn assembly plant in Borg El Arab, which will have a capacity of 3k car a year when it goes online in 4Q 2024, the company\u2019s executive director, Nour Eldin Mohamed, told <a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1762924108046651471\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The plant will have a capacity of 25k cars a year within five years of starting operations. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Part of a wider plan: <\/strong>This comes as part of the firm\u2019s plans to invest EGP 2 bn in the localmarket over the coming five years. <\/p><p class=\"tag-border-left\">REAL ESTATE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi-Egyptian real estate JV in the works: <\/strong>Local real estate giant Hassan Allam Properties has inked a MoU with Saudi real estate player <a target=\"_blank\" href=\"https:\/\/sumouholding.com\/\" style=\"\" rel=\"noopener\">Sumou Holding<\/a> to set up a JV to open up cross-border investments for the companies in Egypt and Saudi Arabia and to share expertise between the two companies, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/2801.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from Somou Holding subsidiary <a target=\"_blank\" href=\"https:\/\/adeer-egy.com\/about\/\" style=\"\" rel=\"noopener\">Adeer International Egypt<\/a>.<\/p><p class=\"tag-border-left\">LEISURE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Magic Land Al Hokair launches EGP 1.1 bn entertainment project:<\/strong> Saudi-Egyptian company <a target=\"_blank\" href=\"https:\/\/magiclandalhokair.com\/\" style=\"\" rel=\"noopener\">Magic Land Al Hokair<\/a> \u2014 a joint venture between Saudi Arabia\u2019s Al Hokair Group, Egyptian Media Production City (EMPC), and local developer Al Kayan Developments \u2014 has launched an EGP 1.1 bn integrated entertainment destination dubbed Tanza, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/51.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from the company. Al Hokair group has also requested its usufruct contract to be extended to 2078 from 2058, according to <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/03\/02\/1771156\" style=\"\" rel=\"noopener\">Al Borsa<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In detail:<\/strong> EMPC has given Magic Land Al Hokair the right to its land to build and launch the 2.5 sq. km project encompassing seven entertainment zones \u2014 including a dolphinarium, forest, cinema and theater, kid\u2019s area, sports games, racing, and adventure-based attractions \u2014 that will \u201credefine the entertainment industry in Egypt\u201d and attract more tourists and investors from across the globe, the statement reads. The company will finish opening the seven entertainment zones in 1Q 2024 and then launch similar projects in other governorates, Tanza CEO Mahmoud Jaber told Al Borsa.<\/p><p class=\"tag-border-left\">TELECOMS- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>China delivers satellite assembly center: <\/strong>China officially handed over theChinese-backed satellite assembly, integration and test center to the Madbouly government last week, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02b8RG5DHtyX1TU1YpTBNXXBoM4SLytWa3HRoj7u8fv13kbQ9W2CP4dGhcSiDTn4hsl\" style=\"\" rel=\"noopener\">statement<\/a>. The Chinese grant-funded project was completed in June of last year.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/egypt-china-relations\/\">Egypt-China relations<\/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\/hassan-allam-properties\/\">Hassan Allam Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/leasing\/\">leasing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sumou-holding\/\">Sumou Holding<\/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=\"616264\" 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=\"616264\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/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\/03\/03\/uk-companies-push-for-higher-ceo-pay-to-rival-the-us\/\">\r\n                            UK companies push for higher CEO pay to rival the US                        <\/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\/03\/03\/uk-companies-push-for-higher-ceo-pay-to-rival-the-us\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n           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data-attachment-id=\"616265\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/uk-companies-push-for-higher-ceo-pay-to-rival-the-us\/1055-jpeg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1055.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1055.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1055.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1055.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-616264\" class=\"content-area-description single-story post-616264 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-planet-finance tag-uk 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\/3\/.01828078-6ae0-4bd4-8f26-68d8dae8f52d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Let the transatlantic salary wars begin:<\/strong> UK boards are increasingly boosting CEO pay to match those of their US counterparts in a bid to attract and retain top execs, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e3599807-bfb0-4ad6-9db0-99fbba67677f\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sign of the times: <\/strong>The trend signals a shift in attitude among UK executives, boards, and investors who were once reluctant to engage in salary wars. \u201cWhen you look at standards for compensation around the world, the US is in a different place,\u201d said London Stock Exchange Group CEO David Schwimmer. \u201cAnd that is an issue companies competing on a global basis from a base in London need to take into account.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Warning shots: <\/strong>Among CEOs leaving the UK in search of larger salaries stateside was Laxham Narasimham who left a USD 7.5 mn role at the UK\u2019s Reckitt Benckiser in 2022 to head Starbucks in the US for USD 28 mn a year \u2014 a nearly 4x salary increase.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But understandably, not everyone is on board: <\/strong>\u201cAll increasing increasing executive pay is likely to do is increase the pay packages of some of the richest people, while doing nothing to tackle the fundamental issues underlying the UK\u2019s economic woes,\u201d a spokesperson for the thinktank High Pay Centre told the salmon-colored paper. <\/p><p><a target=\"_blank\" id=\"t.d7a34868b9e99f8f5e1308e4d278deee475e0789\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28,964<\/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: +16.4%)<\/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\">12,631<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +5.5%)<\/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>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\">9,279<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: -3.1%)<\/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\">4,357<\/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: +7.3%)<\/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>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\">5,137<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8% (YTD: +7.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">7,683<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: -0.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,895<\/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: +8.3%)<\/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>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 83.55<\/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\">+2.0%<\/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>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 1.84<\/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\">-1.3%<\/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>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 2,095.70<\/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\">+2.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 61,946.48<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.0% (YTD: +46.7%)<\/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 rose 0.3% at Thursday\u2019s close<\/strong> on turnover of EGP 4.8 bn (3.3% below the 90-dayaverage). Foreign investors were net sellers. The index is up 16.4% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Ezz Steel (+8.9%), Eastern Company (+6.7%) and Alexandria Containers and Cargo Handling (+6.3%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Juhayna (-4.7%), Telecom Egypt (-4.7%) and Madinet Masr (-4.6%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uk\/\">UK<\/a>\n                <!-- <span 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=\"616266\" 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\/03\/03\/616266\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-616266\" class=\"content-area-description single-story post-616266 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;\">MARCH<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-3 March (Saturday-Sunday): The Emigration Ministry\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/egypthealthtourism.org\/?fbclid=IwAR3TUqXopOSPExfc_swVstH_23nIBel85A0JpU1VO_9Qq7ySfBWfIsKkgZA\" style=\"\">International Health Tourism Conference<\/a><\/span><span style=\"font-weight:400;\"> at the St Regis Almasa Hotel, New Administrative Capital.<\/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 March (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 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>28 March (Thursday): Industrial Development Authority to close <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/IDA.Egypt\/posts\/pfbid02J4KNxR2XLbhHERHZFPbrXTsL3mxqagWTK26w7XdwT6UDnSN6iuNQZXq4rdvgZDp4l\" style=\"\">applications<\/a><\/span><span style=\"font-weight:400;\"> for 1 mn sqm of land in 10 different governorates. <\/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>1 April (Monday): 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> 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: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;\">20 May (Monday): Malaysian Palm Oil Forum in Cairo, with attendance from Malaysian Plantation and Commodities Minister Johari Abdul Ghani.<\/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;\">April 2024: President Abdel Fattah El Sisi will visit Turkey.<\/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 style=\"font-weight:400;\">1Q 2024: The government is set to finalize the sale of the Gabal El Zeit wind farm.<\/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>March 2024: The USD 2.7 bn MIDOR Refinery is <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/tinyurl.com\/4s6pbedj\" style=\"\">set to begin<\/a><\/span><span style=\"font-weight:400;\"> full 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:400;\">May 2024: Arab Finance Ministers\u2019 meeting at Egypt\u2019s administrative capital.<\/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:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2Q 2025: Safaga Terminal 2 to start operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>USD 2 bn green ammonia plant. Egypt\u2019s first syndicated factoring agreement. SODIC has big plans for 2024. Agthia ups stake in Abu Auf again<\/p>\n","protected":false},"featured_media":616233,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-616232","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"a1b5b425-8efb-4ed9-996a-c89ef1c09a78","teaser":"USD 2 bn green ammonia plant. Egypt\u2019s first syndicated factoring agreement. SODIC has big plans for 2024. 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