{"id":617659,"date":"2024-03-26T00:00:00","date_gmt":"2024-03-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=617659"},"modified":"2025-12-17T04:47:38","modified_gmt":"2025-12-17T04:47:38","slug":"mubadala-snaps-up-adwia-parent-company-kelix-bio","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/mubadala-snaps-up-adwia-parent-company-kelix-bio\/","title":{"rendered":"Mubadala snaps up Adwia parent company Kelix Bio"},"content":{"rendered":"<section id=\"617661\" 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=\"617661\">\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\/26\/govt-clears-usd-2-8-bn-port-backlog\/\">\r\n                            Gov\u2019t clears USD 2.8 bn port backlog                        <\/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\/26\/govt-clears-usd-2-8-bn-port-backlog\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/govt-clears-usd-2-8-bn-port-backlog\/905-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/905.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"905.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/905.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/905.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-617661\" class=\"content-area-description single-story post-617661 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-customs tag-customs-authority tag-enterpriseam tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.12456680-a74a-4da8-ae82-df6e72d28e5b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, folks. <\/strong>The rise (and hopefully fall) of commodity prices is back in the headlines this morning, with news from the government that they\u2019re launching a new initiative to cut commodities prices by 30% by the end of Ramadan. We\u2019ve got the low-down of this new initiative, news that the IMF\u2019s Executive Board is meeting this Friday to approve our USD 8 bn loan, and much, much more in today\u2019s issue for you this morning. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not just local business news that is heating up this week<\/strong>, with Cairo set for temperatures rising from 28\u00b0C today to above 30\u00b0C for at least the next ten days. So be sure to get your sunglasses at the ready and check that your AC is ready for what\u2019s to come.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So, when do we eat?<\/strong> Maghrib prayers are at 6:10 pm in the capital city, and you\u2019ll have until 4:23 am tomorrow to hydrate and caffeinate ahead of fajr.<\/p><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>The IMF Executive Board is scheduled to meet on Friday, 29 March to discuss and give<\/strong><strong> the final thumbs up to Egypt\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/033d5dd6-d417-4ad7-8154-b113a19b96a7\/madbouly-sounded-the-right-notes-as-he-unveiled-a-super-sized-usd-8-bn%253cmark%253e-imf-%253c%2Fmark%253epackage\" style=\"\" rel=\"noopener\">USD 8 bn package<\/a><\/strong><strong> with the fund<\/strong>, a source from the Finance Ministry confirmed to Enterprise. The board has yet to put Egypt on its <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/About\/executive-board\/EBC-Scheduled\" style=\"\" rel=\"noopener\">public schedule<\/a>, which extends until 3 April.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p 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=\"wwtt2\"><\/a> <strong>#1- <\/strong><strong>Import backlog kaput?<\/strong> Some USD 2.8 bn worth of goods have been cleared from the country\u2019s ports thanks to the recent spate of foreign currency injections, Prime Minister Mostafa Madbouly <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0TuWCU5zg6EXg2BMBukRz1C5pRurY3ocPoCSQd8WCNMBa1rr9B4AdvtS6C919u1arl\" style=\"\" rel=\"noopener\">said<\/a>. The remaining USD 1.7 bn of goods have had their paperwork completed and secured the required FX through the banking system. These goods remain unclaimed by their importers \u2014 who have declined to receive them as they wait for the USD-EGP rate to further depreciate \u2014 and are set to be confiscated, Madbouly said, adding that they are subject to the laws and regulations of abandoned and unclaimed goods.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#2- The state\u2019s Egyptian Electricity Holding Company (EEHC) and its subsidiaries are<\/strong><strong> having to pay out an additional EGP 50 bn a year,<\/strong> following the float of the currency earlier this month, writes <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/03\/25\/%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D8%A3%D8%B9%D8%A8%D8%A7%D8%A1-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-50-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AC%D9%86%D9%8A%D9%87-%D8%A8%D8%B9%D8%AF-%D8%AA%D8%AD%D8%B1%D9%8A%D8%B1-%D8%B3%D8%B9%D8%B1-%D8%A7%D9%84%D8%B5%D8%B1%D9%81\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>, citing unnamed Electricity Ministry sources. As a result of the greenback strengthening against the pound in the official market following the float, the cost of loan installments and interest owed by the EEHC has risen, in addition to payments for station maintenance and dues owed to private sector companies that sell electricity to the government, the sources said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>The Electricity Ministry will submit a memorandum to the Madbouly cabinet within two weeks detailing the situation and requesting government support so the EEHC and its subsidiaries can fulfill their financial obligations.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- National Bank of Egypt is looking to invest up to EGP 5 bn across six projects<\/strong><strong> this year<\/strong>, the bank\u2019s investment CEO Ahmed El Said told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/62011\/%D8%A7%D9%84%D8%A3%D9%87%D9%84%D9%8A-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A-%D9%8A%D8%B9%D8%AA%D8%B2%D9%85-%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-5-%D9%85%D9%84%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AC%D9%86%D9%8A%D9%87-%D9%87%D8%B0%D8%A7-%D8%A7%D9%84%D8%B9%D8%A7%D9%85\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The investment will go into both new and existing projects, which fall within the sectors of fintech, real estate, chemicals, and engineering, he added. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bank will also raise around EGP 4 bn by exiting 12 companies this year<\/strong>, El Said added.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#4- Supreme Tax Council in the works: <\/strong>The government is set to form a Supreme Tax Council following the issuance of a presidential decree yesterday, according to a Finance Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02ZTfzGjZfM2TWv9vuWSkRwujqJrjdntvjxRu6BzQRo4DbnL4NmLQ2csSn51MTS73Bl\" style=\"\" rel=\"noopener\">statement<\/a>. The council seeks to ramp up private sector participation, stimulate investment, and encourage local production and exports, and all state agencies will abide by its recommendations and rulings.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The council\u2019s role: <\/strong>The new body will be tasked with regulating the relationship between investors and the government in regards to tax, studying tax laws, improving the efficiency of the tax administration, and extending technical support and legal advice to taxpayers, among other duties.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who is on board?<\/strong> The council will be headed by the Prime Minister and will include the heads of the Federation of Egyptian Chambers of Commerce, Federation of Egyptian Industries, and Egyptian Federation of Investors Associations alongside representatives of the business community, tax associations, accountants, and experts in the economic, public finance, and tax fields.<\/p><p class=\"tag-border-left\">FXWATCH- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>Remittances inflows are \u201cstill far from reaching their peak,\u201d<\/strong> as Egyptian expats increasingly return to using official channels to transfer money back to Egypt following the float of the pound, deputy CEO of the UAE\u2019s largest FX bureau and remittances company Mohammad Bitartold <a target=\"_blank\" href=\"https:\/\/twitter.com\/AlArabiyaBN_EG\/status\/1772211512825835764?s=20\" style=\"\" rel=\"noopener\">Al Arabiya Business<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong>Remittances were <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/20f7fbf7-2f2f-47d5-9252-91245b5b30db\/\" style=\"\" rel=\"noopener\">down 30% y-o-y<\/a> to USD 22 bn in 2023 as Egyptians abroad held onto their money or sent it back through parallel mechanisms. The government said it wants to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63475988-4cb4-4a7f-8124-9a9bc5677029\" style=\"\" rel=\"noopener\">raise remittances<\/a> \u2014 one of Egypt\u2019s biggest sources of FX \u2014 from Egyptian expats by 10% each year to reach USD 53 bn by 2030. <\/p><p class=\"tag-border-left\">PSA-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Attention, govtech startups: <\/strong>The Communications Ministry has kicked off its GovTech Innovation Lab to support govtech startups \u201cdedicated to tackling societal challenges and integrating innovative solutions into government services,\u201d according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MCITEgypt\/posts\/pfbid02WmcSF83ihw7QzLEeRMpXCnYBvhMVTSoW3zsCHHf2w2C9m2KyvgGm5es9uNKzufhpl?__cft__%5B0%5D=AZXQlPGk0Wi3PVEbLvNaS_t3g0W9nOHxBo6R4CuFQtRLO3lfpQKPY-2EkJ8JmAUZ2gNhTwpoNP4x6lScrNbcXOxz-K6joyqihO54_0AgecF164ak9FS5vGAiErluUKqm3gjlgBalFZjZ2DlYudCBzHZ7MW_Ithy2ZhrbDzwWrnr14w&amp;__tn__=%2CO%2CP-R\" style=\"\" rel=\"noopener\">statement<\/a> from the ministry. The German development agency GIZ-supported project in collaboration with Flat6Labs, Robusta, Untap, WeCodeForYou, and Zero360 will also launch a three to five month acceleration program to provide startups training, mentorship, and networking with input from private and public sector entities. <a target=\"_blank\" href=\"https:\/\/govtechlab.gov.eg\/\" style=\"\" rel=\"noopener\">Registration<\/a> for the program closes 13 April. <\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a big morning for politics <\/strong>and comparatively quiet on the business front. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In politics:<\/strong><strong>The commentariat is obsessing over <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/politics\/2024\/03\/25\/trump-new-york-court-campaign-trials\/\" style=\"\" rel=\"noopener\">Donald Trump\u2019s courtroom battles<\/a><\/strong>. The presumptive Republican presidential nominee can post a smaller <a target=\"_blank\" href=\"https:\/\/www.cbsnews.com\/news\/trump-bond-deadline-payment-new-york-fraud-case\/\" style=\"\" rel=\"noopener\">USD 175 mn bond<\/a> as he looks to appeal a civil fraud case \u2014 but will <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/trump-hush-money-trial-new-york-b8fb980a6ec745e918a13e676b7f1460\" style=\"\" rel=\"noopener\">face criminal trial this April<\/a> (sooner than he had hoped) in a hush-money case.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sign of the times? French lender Credit Agricole said yesterday that it won\u2019t fund two major LNG projects<\/strong>, one in Papua New Guinea and the other in Mozambique, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/credit-agricole-says-it-will-not-fund-rovuma-lng-project-2024-03-25\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This really stands out: <\/strong>Credit Agricole was the original financial advisor to both projects, which are being led by bid names including ExxonMobil, Eni, and TotalEnergies. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context:<\/strong> The move comes as some big global banks step away from new hydrocarbon projects. Barclays <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/uk\/barclays-adopt-fresh-curbs-oil-gas-financing-2024-02-09\/\" style=\"\" rel=\"noopener\">said last month<\/a> that it would stop \u201cdirect financing of new oil and gas fields and restrict lending more broadly to energy companies expanding fossil fuel production.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2021\/03\/INFINITY-Top-banner-EN-1600x675-v2-02.png\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We take a look at IQAir\u2019s 2023 World Air Quality report that ranked Egypt ninth \u2014 for the second consecutive year \u2014 among countries with the worst air pollution and speak to government officials about what they\u2019re doing to tackle air pollution.<\/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\/customs\/\">customs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/customs-authority\/\">Customs Authority<\/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=\"617663 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=\"617663\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/617663\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-617663\" class=\"content-area-description single-story post-617663 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\/2029.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Somabay set to make a splash again with World Aquatics triple event extravaganza:<\/span><span style=\"font-weight:400;\"> Somabay is hosting the World Aquatics series for the second year, featuring three events in March, May, and August. The series includes the World Aquatics Open Water Swimming World Cup 2024, World Aquatics Elite Beach Water Polo World Cup 2024, and the World Aquatics Under 18 Beach Water Polo Cup 2024.<\/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=\"617664\" 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=\"617664\">\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\">Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/govt-launches-initiative-to-cut-commodity-prices-by-up-to-30\/\">\r\n                            Gov\u2019t launches initiative to cut commodity prices by up to 30%                        <\/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\/26\/govt-launches-initiative-to-cut-commodity-prices-by-up-to-30\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Some businesses are set to reduce prices by 15-20% this week as they work to gradually ramp up the price cuts to 30% following the Eid Al Fitr holiday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Changes across the board:<\/strong> Prime Minister Mostafa Madbouly met with manufacturers, producers, and suppliers of commodities \u2014 including sugar, grains, rice, wheat, flour, pasta, tea, dairy, cheese, butter, meat, and oils \u2014 as well as those involved in engineering and electronic goods and representatives of commercial chains to discuss the initiative, which together account for over 70% of the market, according to the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A bid to rein in inflation: <\/strong>The only way to break the inflationary cycle is to introduce price cuts for major commodities that are proportional to the decline of the USD-EGP exchange rate on the parallel market, Madbouly said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the recent fuel price hikes could add to inflationary pressures:<\/strong> Inflation is expected to rise by a monthly rate of 1.5% in March and 3-4% in April primarily on the back of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/be2302e1-e1a7-4413-95b2-887642444241\/egypt-hikes-car%253cmark%253e-fuel-%253c%2Fmark%253eprices-by-by-8-21%2525\" style=\"\" rel=\"noopener\">f<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/be2302e1-e1a7-4413-95b2-887642444241\/egypt-hikes-car%253cmark%253e-fuel-%253c%2Fmark%253eprices-by-by-8-21%2525\" style=\"\" rel=\"noopener\">uel price hikes<\/a> imposed by the government over the weekend, CI Capital Holding Senior Economist Sara Saada told Al Arabiya Business (<a target=\"_blank\" href=\"https:\/\/twitter.com\/AlArabiyaBN_EG\/status\/1772255503134994495?s=20\" style=\"\" rel=\"noopener\">watch, runtime: 5:32<\/a>). These knock-on effects could extend well into May, she added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>We <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/93f16780-a922-44f2-9efe-d8ad324c60d2\/gov%25e2%2580%2599t-could-up-strategic-reserves-of-basic%253cmark%253e-commodities-%253c%2Fmark%253eby-20%2525\" style=\"\" rel=\"noopener\">heard<\/a> on Sunday that Prime Minister Moustafa Madbouly directed the government to study a plan to ramp up strategic reserves of basic commodities by 20% in a bid to stabilize commodity prices \u201cin the event of a crisis.\u201d The day before, President Abdel Fattah El Sisi also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a09d3113-3141-4689-ab51-3a914eca4c8c\" style=\"\" rel=\"noopener\">suggested<\/a> that the government could earmark USD 1-3 bn to import essential commodities to compete directly with the private sector in a bid to lower prices.<\/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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-ministry\/\">Supply Ministry<\/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=\"617666\" 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=\"617666\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/abu-dhabi-wealth-fund-mubadala-acquires-100-of-adwia-parent-company-kelix-bio\/\">\r\n                            Abu Dhabi wealth fund Mubadala acquires 100% of Adwia parent company Kelix Bio                        <\/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\/26\/abu-dhabi-wealth-fund-mubadala-acquires-100-of-adwia-parent-company-kelix-bio\/\" 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\/26\/abu-dhabi-wealth-fund-mubadala-acquires-100-of-adwia-parent-company-kelix-bio\/')\">\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\/26\/abu-dhabi-wealth-fund-mubadala-acquires-100-of-adwia-parent-company-kelix-bio\/\">\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=Abu Dhabi wealth fund Mubadala acquires 100% of Adwia parent company Kelix Bio&url=https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/abu-dhabi-wealth-fund-mubadala-acquires-100-of-adwia-parent-company-kelix-bio\/\">\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\/26\/abu-dhabi-wealth-fund-mubadala-acquires-100-of-adwia-parent-company-kelix-bio\/&title=Abu Dhabi wealth fund Mubadala acquires 100% of Adwia parent company Kelix Bio\">\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=Abu+Dhabi+wealth+fund+Mubadala+acquires+100%25+of+Adwia+parent+company+Kelix+Bio+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F03%2F26%2Fabu-dhabi-wealth-fund-mubadala-acquires-100-of-adwia-parent-company-kelix-bio%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\/26\/abu-dhabi-wealth-fund-mubadala-acquires-100-of-adwia-parent-company-kelix-bio\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2193.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"617667\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/abu-dhabi-wealth-fund-mubadala-acquires-100-of-adwia-parent-company-kelix-bio\/2193-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2193.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2193.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2193.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2193.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-617666\" class=\"content-area-description single-story post-617666 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-development-partners-international tag-ebrd tag-enterpriseam tag-ma-watch tag-mubadala tag-sovereign-wealth-funds 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\/.ac89f491-579f-418f-8210-50e49e1f06f4.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Mubadala acquires full stake in Kelix bio from DPI, BII, and EBRD<\/strong><strong>consortium:<\/strong> Abu Dhabi sovereign wealth fund Mubadala has fully acquired pan-African biopharma platform <a target=\"_blank\" href=\"https:\/\/www.kelixbio.com\/\" style=\"\" rel=\"noopener\">Kelix bio<\/a>, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2215.pdf\" style=\"\" rel=\"noopener\">a joint statement (pdf)<\/a>. The selling partners in the acquisition of Kelix bio include its co-founders Development Partners International (DPI), the UK government\u2019s British International Investment (BII), and the European Bank for Reconstruction and Development (EBRD). The acquisition is still pending regulatory approval.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kelix bio is no stranger to Egypt: <\/strong>The selling parties established Kelix bio in November 2020 with an initial <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/39cce242-12f8-4bfc-8f48-ef3e9da90f6f\/ebrd,-cdc,-dpi-consortium-create-usd-250-mn-pharma-investment-platform-for-egypt\" style=\"\" rel=\"noopener\">investment commitment of USD 250 mn<\/a>, a few days after they poured USD 126 mn to acquire <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c291977a-545c-4714-895b-80cfb85def9b\" style=\"\" rel=\"noopener\">99.6% of Adwia<\/a> \u2014 one of the leading generic pharma companies in Egypt, exporting to the Middle East, Africa, and Eastern Europe. The platform also has subsidiaries across emerging markets, including India\u2019s Celon Labs, Morocco\u2019s PHI, and Kelix bio Malta. The platform's revenues currently top USD 150 mn, with critical meds accessible in 50+ countries spanning Africa, Latin America, Southeast Asia, and the Middle East.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And nor are DPI, BII, and the EBRD: <\/strong>The London-based private equity outfit DPI recently acquired minority stakes in local pharma player <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7dcb2079-d73d-407e-ab3e-2042f30deb93\" style=\"\" rel=\"noopener\">Marcyrl<\/a> and is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e7b24464-db51-40cd-83db-af04a5115c37\/bidders-line-up-for-a-piece-of-middle-east-glass\" style=\"\" rel=\"noopener\">reportedly<\/a> eyeing up a 37% stake in EGX-listed Middle East Glass. DPI was also joined by BII last year in an alliance that invested USD 165 mn in supermarket chain <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/989c9ce4-ad8e-4be1-b014-076b770f7ff4\" style=\"\" rel=\"noopener\">Kazyon<\/a>. The UK government\u2019s investment fund has also helped <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cd57da61-302d-428d-beab-253b1039c71a\/ebrd-and-partners-fund-more-green-finance-for-smes-%2B-ebrd,-bii-lend-usd-100-mn-to-bdc\" style=\"\" rel=\"noopener\">back<\/a> state banks and supported several Africa-focussed investment platforms for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3429078d-bd09-4619-9fb2-c4180382c25b\/metito-%2B-bii-launch-investment-platform-to-tackle-water-insecurity-in-africa\" style=\"\" rel=\"noopener\">water security<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e2e53b8-7240-40a9-bc7a-28a65ec0e9e4\/partech-closes-usd-300-mn-africa-focused-fund\" style=\"\" rel=\"noopener\">tech startups<\/a>. The EBRD is also an important part of the investment landscape in Egypt, with a long track record of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6b0fab52-223c-477c-a9b1-8d79029e2048\/%253cmark%253eebrd-%253c%2Fmark%253eprovides-banque-du-caire-with-usd-50-mn-financing-package-for-msmes\" style=\"\" rel=\"noopener\">supporting MSMEs<\/a>, funding our <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6c6b2c4d-10b3-41dc-9d28-92160b7c1b96\/acwa%25e2%2580%2599s-solar-plant-named-ijglobal%25e2%2580%2599s-energy-transition-transaction-of-the-year\" style=\"\" rel=\"noopener\">green energy ambitions<\/a>, and has invested USD 11.5 bn in the country <a target=\"_blank\" href=\"https:\/\/www.ebrd.com\/egypt.html\" style=\"\" rel=\"noopener\">to date<\/a> \u2014 59% of which went to the private sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A mega exit: <\/strong>The statement did not disclose the value of the transaction but said it is \u201cset to beone of the largest private equity exits and [M&A transactions in the pharma sector] in Africa over the last twenty years.\u201d Representatives from Mubadala, DPI, Kelix, and the EBRD declined to comment on the financial details of the acquisition when Enterprise reached out to them yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> Allen & Overy served as legal advisors to DPI, BII, and EBRD for this transaction.<\/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\/development-partners-international\/\">Development Partners International<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mubadala\/\">Mubadala<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-wealth-funds\/\">Sovereign wealth funds<\/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=\"617668\" 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=\"617668\">\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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/concrete-shares-up-nearly-17-on-second-day-of-trading\/\">\r\n                            Concrete shares up nearly 17% on second day of trading                        <\/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\/26\/concrete-shares-up-nearly-17-on-second-day-of-trading\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Shares in Concrete jumped 16.7% to close at USD 0.07, while GTEX saw its shares rise 12.9% to USD 0.035, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2258.jpg\" style=\"\" rel=\"noopener\">EGX trading<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2258.jpg\" style=\"\" rel=\"noopener\">data<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> We spoke with newly-appointed Deputy CEO Mohamed Talaat about the demerger at Arafa Holding to find out what prompted the move and what\u2019s next for Concrete, including its global expansion plans. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6d4ba01f-009d-4d6f-9d4d-95462b47d3f0\/\" style=\"\" rel=\"noopener\">You can read the full story<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6d4ba01f-009d-4d6f-9d4d-95462b47d3f0\/\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ringing in the fresh start: <\/strong>The EGX celebrated the debuts of Concrete and GTEX with bell-ringing ceremonies, the bourse said in two separate statements (<a target=\"_blank\" href=\"https:\/\/www.egx.com.eg\/ar\/NewsDetails.aspx?NewsID=250920\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.egx.com.eg\/ar\/NewsDetails.aspx?NewsID=250889\" style=\"\" rel=\"noopener\">here<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cWe are pleased to complete the demerger as this strategic step allows us to increase our focus on our core business \u2026 and grow our exports,\u201d said Concrete Fashion Group vice chairman and CEO Alaa Arafa, according to a company <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2260.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big plans ahead for GTEX:<\/strong> The company plans to ramp up investments in textile manufacturing as well as in UK retail, Arafa <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2282.pdf\" style=\"\" rel=\"noopener\">said (pdf)<\/a>. GTEX plans to catalyze growth in the short and medium terms by expanding into global markets through textile arm <a target=\"_blank\" href=\"https:\/\/www.goldentex.com.eg\/\" style=\"\" rel=\"noopener\">GoldenTex<\/a> and its UK-based menswear unit <a target=\"_blank\" href=\"https:\/\/www.baird-group.co.uk\/\" style=\"\" rel=\"noopener\">Baird Group<\/a>, said Deputy CEO Mohamed Morsy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers:<\/strong> GTEX plans to invest some USD 8 mn into its expansion plans this year and a bigger sum next year, Arafa told Asharq Business (<a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1772247242587488703?s=20\" style=\"\" rel=\"noopener\">watch, runtime: 2:42<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The demerger and birth of Concrete Fashion Group aims to concentrate the group\u2019s efforts on the fashion brand Concrete (a play on the size and rapid growth of the domestic market) and exports (reflecting Egypt\u2019s new cost competitiveness as an international manufacturing hub after the float of the EGP), Concrete Deputy CEO Mohamed Talaat told Enterprise last week.<\/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\/arafa-holding\/\">Arafa Holding<\/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\/concrete-fashion-group\/\">Concrete Fashion Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gtex-holding\/\">GTEX 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=\"617670\" 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=\"617670\">\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\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/un-security-council-votes-for-immediate-gaza-ceasefire\/\">\r\n                            UN Security Council votes for immediate Gaza ceasefire                        <\/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\/26\/un-security-council-votes-for-immediate-gaza-ceasefire\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Egypt welcomed the decision in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid02FDKPWgRkWup7YoZnunCT5djWBMoAJ3WkH9hRxwvbwxbHTWPeswkuhdi38qig9pfsl\" style=\"\" rel=\"noopener\">statemen<\/a><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid02FDKPWgRkWup7YoZnunCT5djWBMoAJ3WkH9hRxwvbwxbHTWPeswkuhdi38qig9pfsl\" style=\"\" rel=\"noopener\">t<\/a> from the Ministry of Foreign Affairs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>US abstentions on resolutions regarding Israel are not a common occurrence. The US has for decades used its veto power to prevent the Security Council passing resolutions condemning Israeli actions in Palestine.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US-Israeli relations come under further strain: <\/strong>After news of the vote, Prime Minister Benjamin Netanyahu canceled plans for a high-level Israeli delegation to visit Washington, where talks were expected to cover Israel\u2019s planned invasion of Rafah. Netanyahu called the move a \u201cclear retreat\u201d of the US\u2019 steadfast policy to back Israel. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Regardless of the vote, Israel says it has no plans to<\/strong><strong> halt its war: <\/strong>\u201cWe will operate against Hamas everywhere \u2014 including in places where we have not yet been,\" Israeli Defence Minister Yoav Gallant <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-kills-dozens-gaza-attacks-besieges-two-hospitals-palestinian-medics-say-2024-03-25\/\" style=\"\" rel=\"noopener\">said<\/a> in response to the news. \"We have no moral right to stop the war while there are still hostages held in Gaza.\"<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The war to date:<\/strong> Over <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MOHGaza1994\/posts\/pfbid0JZpfC69dDNk6dvdy2m56tS7VzCvgGxnVP3KbX3rdGCqgVGhpi7qFyuUHZzo97rnJl\" style=\"\" rel=\"noopener\">32k<\/a> Palestinians have been killed by Israel in the nearly six months since the war on Gaza began and the besieged enclave on the <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/famine-expected-by-may-gaza-says-un-backed-report-2024-03-18\/\" style=\"\" rel=\"noopener\">brink of famine<\/a> as Israel complicates \u2014 and targets \u2014 the delivery of humanitarian aid.<\/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\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war-watch\/\">war watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"617672\" 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=\"617672\">\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\">A MESSAGE FROM VODAFONE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/25-years-of-growth-impact-and-sharing-special-moments\/\">\r\n                            25 years of growth, impact, and sharing special moments                        <\/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\/26\/25-years-of-growth-impact-and-sharing-special-moments\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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For 25 years, Vodafone has been helping customers convey words and there is nothing more powerful.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>From humble beginnings to becoming an integral part of mns<\/strong><strong>of stories<\/strong>, Vodafone\u2019s latest campaign reflects a journey beyond mere connectivity, serving as a poignant reminder of how we have transcended our role as a telecom to become a catalyst for transformation \u2014 a conduit for sharing special moments and expressing love and gratitude.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">We\u2019ve invested EGP 90 bn in Egypt and become the steadfast companion of over <strong>47 mn customers<\/strong>, keeping them connected <strong>anywhere and everywhere.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Our Ramadan campaign stands as a tribute to our <strong>enduring commitment to innovation and our unwavering dedication to our customers.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Here\u2019s to celebrating a <strong>quarter-century of impact, growth, and the transformative power of words.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/youtu.be\/2E8akmr0FUs\" style=\"\" rel=\"noopener\">Watch our ad here<\/a><\/strong><\/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\/a-message-from-vodafone\/\">A MESSAGE FROM VODAFONE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vodafone-egypt\/\">Vodafone Egypt<\/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=\"617674\" 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=\"617674\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/abdelhalim-allam-re-elected-as-head-of-egyptian-bar-association\/\">\r\n                            Abdelhalim Allam re-elected as head of Egyptian Bar Association                        <\/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\/26\/abdelhalim-allam-re-elected-as-head-of-egyptian-bar-association\/\" 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\/26\/abdelhalim-allam-re-elected-as-head-of-egyptian-bar-association\/')\">\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\/26\/abdelhalim-allam-re-elected-as-head-of-egyptian-bar-association\/\">\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=Abdelhalim Allam re-elected as head of Egyptian Bar Association&url=https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/abdelhalim-allam-re-elected-as-head-of-egyptian-bar-association\/\">\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\/26\/abdelhalim-allam-re-elected-as-head-of-egyptian-bar-association\/&title=Abdelhalim Allam re-elected as head of Egyptian Bar Association\">\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=Abdelhalim+Allam+re-elected+as+head+of+Egyptian+Bar+Association+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F03%2F26%2Fabdelhalim-allam-re-elected-as-head-of-egyptian-bar-association%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\/26\/abdelhalim-allam-re-elected-as-head-of-egyptian-bar-association\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2326.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"617675\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/abdelhalim-allam-re-elected-as-head-of-egyptian-bar-association\/2326-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2326.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2326.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2326.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2326.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-617674\" class=\"content-area-description single-story post-617674 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-abdelhalim-allam tag-egyptian-bar-association tag-enterpriseam tag-moves 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\/.7350b058-2272-4349-9f81-a83b7ea6e3d6.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Veteran lawyer Abdelhalim Allam has been re-elected as the head of the Egyptian<\/strong><strong> Bar Association <\/strong>after receiving 24k votes, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyLS1912\/posts\/750290277194988?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a>&nbsp;by the association. Allam clinched a landslide victory, with runner-up Sameh Ashour receiving 20.3k votes. Allam has held the position since <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d5cb1bc9-d272-4ed0-a482-903c5760e4ca\/abdelhalim-allam-elected-lawyers%25e2%2580%2599-syndicate-president\" style=\"\" rel=\"noopener\">September 2022<\/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\/abdelhalim-allam\/\">Abdelhalim Allam<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-bar-association\/\">Egyptian Bar Association<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/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=\"617676 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=\"617676\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/617676\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-617676\" class=\"content-area-description single-story post-617676 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\/ads\/imgs\/186.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=\"617677\" 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=\"617677\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/the-float-of-the-egp-is-dividing-the-international-commentariat\/\">\r\n                            The float of the Egyptian pound is dividing the international commentariat                        <\/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\/26\/the-float-of-the-egp-is-dividing-the-international-commentariat\/\" 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\/26\/the-float-of-the-egp-is-dividing-the-international-commentariat\/')\">\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\/26\/the-float-of-the-egp-is-dividing-the-international-commentariat\/\">\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=The float of the EGP is dividing the international commentariat&url=https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/the-float-of-the-egp-is-dividing-the-international-commentariat\/\">\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\/26\/the-float-of-the-egp-is-dividing-the-international-commentariat\/&title=The float of the EGP is dividing the international commentariat\">\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=The+float+of+the+EGP+is+dividing+the+international+commentariat+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F03%2F26%2Fthe-float-of-the-egp-is-dividing-the-international-commentariat%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\/26\/the-float-of-the-egp-is-dividing-the-international-commentariat\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2293.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"617678\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/the-float-of-the-egp-is-dividing-the-international-commentariat\/2293-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2293.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2293.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2293.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2293.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-617677\" class=\"content-area-description single-story post-617677 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-egp tag-enterpriseam tag-inflation 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\/.0c0b5036-cba1-412b-8363-52d0cd78f3ed.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt\u2019s post-float economy is raising both optimism and pessimism in the<\/strong><strong> international press<\/strong>, with Rockefeller International chair and founder and CIO of Breakout Capital Ruchir Sharma taking an <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/34268245-df43-4fe7-acc9-f2ab28cb02d5\" style=\"\" rel=\"noopener\">upbeat tone<\/a> in the Financial Times, praising Egypt among four other \u201con the mend\u201d emerging markets for \u201cbowing to market realities\u201d by floating the EGP, raising interest rates, and beginning to cut down on mega project spending. While Bloomberg took a more pessimistic tone, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/features\/2024-03-25\/egypt-uae-imf-rescue-betrays-depth-of-economic-crisis?embedded-checkout=true\" style=\"\" rel=\"noopener\">warning<\/a> that away from the official narrative of the float of the EGP pointing to better times to come, Egyptians are bracing for a further squeeze on their wallets. <\/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\/egp\/\">EGP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    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alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" 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   \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/siemens-to-build-smart-health-facilities-in-egypt-plus-tejas-network-paymob-mid-takseet-afreximbank-hafiz\/\">\r\n                            Siemens to build smart health facilities in Egypt. PLUS: Tejas Network, Paymob + MID Takseet, Afreximbank + Hafiz                        <\/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\/26\/siemens-to-build-smart-health-facilities-in-egypt-plus-tejas-network-paymob-mid-takseet-afreximbank-hafiz\/\" 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\/26\/siemens-to-build-smart-health-facilities-in-egypt-plus-tejas-network-paymob-mid-takseet-afreximbank-hafiz\/')\">\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\/26\/siemens-to-build-smart-health-facilities-in-egypt-plus-tejas-network-paymob-mid-takseet-afreximbank-hafiz\/\">\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=Siemens to build smart health facilities in Egypt. PLUS: Tejas Network, Paymob + MID Takseet, Afreximbank + Hafiz&url=https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/siemens-to-build-smart-health-facilities-in-egypt-plus-tejas-network-paymob-mid-takseet-afreximbank-hafiz\/\">\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\/26\/siemens-to-build-smart-health-facilities-in-egypt-plus-tejas-network-paymob-mid-takseet-afreximbank-hafiz\/&title=Siemens to build smart health facilities in Egypt. PLUS: Tejas Network, Paymob + MID Takseet, Afreximbank + Hafiz\">\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=Siemens+to+build+smart+health+facilities+in+Egypt.+PLUS%3A+Tejas+Network%2C+Paymob+%2B+MID+Takseet%2C+Afreximbank+%2B+Hafiz+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F03%2F26%2Fsiemens-to-build-smart-health-facilities-in-egypt-plus-tejas-network-paymob-mid-takseet-afreximbank-hafiz%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\/26\/siemens-to-build-smart-health-facilities-in-egypt-plus-tejas-network-paymob-mid-takseet-afreximbank-hafiz\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/206.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"617681\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/siemens-to-build-smart-health-facilities-in-egypt-plus-tejas-network-paymob-mid-takseet-afreximbank-hafiz\/206-jpg-23\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/206.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"206.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/206.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/206.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-617680\" class=\"content-area-description single-story post-617680 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-afreximbank tag-also-on-our-radar tag-consumer-finance tag-development-finance tag-egypt-healthcare-authority tag-enterpriseam tag-fintech tag-healthcare tag-international-cooperation-ministry tag-itida tag-mid-takseet tag-paymob tag-siemens tag-tejas-networks 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\/.1519a0e3-a1b1-41da-a66f-877e3d0bdc07.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">HEALTHCARE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Siemens to build smart health facilities in Egypt:<\/strong> The Egyptian Healthcare Authority and German firm Siemens agreed to ink an MoU on Monday to upgrade the building management systems of EHA facilities with smart technology, according to an authority <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02cPVeXtBCxo9bz2n2CxQWA8hpq2sqtojS8x1wq6vWtNyPnfjQWPNjxAx9wtG1JDdEl\" style=\"\" rel=\"noopener\">statement<\/a>. The revamp aims to increase the efficiency of the facilities, reduce energy consumption and disruptions, and improve patients\u2019 comfort and safety, EHA chairman Ahmed El Sobky said.<\/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>Indian telecom maker to manufacture its products in Egypt: <\/strong>Indian telecom equipment manufacturer <a target=\"_blank\" href=\"https:\/\/tejasnetworks.com\/\" style=\"\" rel=\"noopener\">Tejas Networks<\/a> has inked an MoU with Telecom Egypt, the Information Technology Industry Development Agency, and the National Telecommunications Institute to manufacture its products in Egypt and establish research, training and customer support centers, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MCITEgypt\/posts\/pfbid099E2pW4WtRMJAmBD584mFL2EUo6d51Yu33G8UXnWjPuwMQzNU8KVv6C5sfpEXpgKl\" style=\"\" rel=\"noopener\">statement<\/a> from the Communications Ministry.<\/p><p class=\"tag-border-left\">FINTECH- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Local fintechs Paymob and MID Takseet pair up to expand payment and financing<\/strong><strong> plans: <\/strong>Paymob will now offer MID Takseet\u2019s payment plans and financing services through its point of sale terminals used by 250k merchants throughout the country, MID Takseet said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2231.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. <\/p><p class=\"tag-border-left\">DEVELOPMENT FINANCE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Afreximbank could give a helping hand to private sector support platform Hafiz:<font face=\"Arial\">\u00a0<\/font><\/strong>Afreximbank President Benedict Oramah discussed linking its own <a target=\"_blank\" href=\"https:\/\/www.afreximbank.com\/afreximbank-launches-intra-african-epc-contract-promotion-programme-as-iatf2023-hosts-presidential-summit%EF%BF%BC\/\" style=\"\" rel=\"noopener\">Engineering, Procurement and Construction<\/a> initiative to support the private sector with the International Cooperation Ministry\u2019s <a target=\"_blank\" href=\"https:\/\/privatesector.moic.gov.eg\/\" style=\"\" rel=\"noopener\">Hub for Advisory, Finance, and Investment for Enterprises<\/a> platform (Hafiz) with International Cooperation Minister Rania Al Mashat, according to a <a target=\"_blank\" href=\"https:\/\/moic.gov.eg\/news\/1379\" style=\"\" rel=\"noopener\">statement<\/a> from the ministry.<\/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\/afreximbank\/\">AfreximBank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/consumer-finance\/\">consumer finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-healthcare-authority\/\">Egypt Healthcare Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-cooperation-ministry\/\">International Cooperation Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/itida\/\">ITIDA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mid-takseet\/\">MID Takseet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/paymob\/\">Paymob<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/siemens\/\">Siemens<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tejas-networks\/\">Tejas Networks<\/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=\"617682\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"617683\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n       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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2300.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2300.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2300.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2300.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-617683\" class=\"content-area-description single-story post-617683 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-automotive tag-enterpriseam tag-evs tag-planet-finance tag-public-investment-fund 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\/.60582080-bd8d-47cb-aa0a-0e810721589a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>PIF charges up Lucid with USD 1 bn investment: <\/strong>Saudi Arabia\u2019s Public Investment Fund (PIF) will buy a USD 1 bn stake in US luxury EV manufacturer Lucid Motors through its Ayar Third Investment Company, according to <a target=\"_blank\" href=\"https:\/\/ir.lucidmotors.com\/news-releases\/news-release-details\/lucid-group-inc-announces-investment-10-billion-affiliate-pif\" style=\"\" rel=\"noopener\">a statement<\/a> from the upstart EV company yesterday. The investment in the company \u2014 which the sovereign wealth fund already owns 60% of \u2014 will be executed through the sale of convertible preferred stocks.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The potential proceeds will finance the company\u2019s capex and working capital<\/strong>, amongother things, the statement reads.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Lucid has been assembling vehicles in Saudi Arabia since establishing its first factory outside of the US in Jeddah last September, but is planning to start manufacturing vehicles in the kingdom soon, Lucid\u2019s marketing director for the region, Firas Kandalaft, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/923a79f8-0b0a-4f84-8017-f39b1e96f5de\" style=\"\" rel=\"noopener\">told<\/a> Saudi media last month.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lucid is trying to wean itself off its dependance on the wealth fund:<\/strong> Earlier this month, Lucid CEO Peter Rawlinson <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7047b8db-edde-4623-bcb5-6bb902ec50ce\/today:-egypt-could-be-lining-up-an-usd-1.2-bn-climate-finance-agreement\" style=\"\" rel=\"noopener\">said<\/a> his company can no longer depend on the \u201cbottomless wealth\u201d of its Saudi owner PIF and would set in motion fundraising this year. Lucid has enough funds to last into 2025, but is burning through around USD 1 bn a quarter. The company is considering options including \u201cbringing logistics under the same roof to reduce [operating spending], looking at the bill of materials, looking at overheads, looking at reducing anything that is variable.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax: <\/strong>Lucid\u2019s share prices rose 5.4% to USD 2.9 a piece at yesterday\u2019s close, but is down 31% YTD on the back of net losses <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/45addd05-96d8-4b06-8fef-e0c7a2644485\/lucid-remains-in-the-red-in-2023.-plus:-results-from-qassim-cement,-thob-al-aseel\" style=\"\" rel=\"noopener\">doubling<\/a> y-o-y to USD 2.8 bn in 2023.<\/p><p class=\"tag-border-left\">THE MARKETS THIS MORNING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian shares are largely in the green <\/strong>and stock futures are largely flat this morning, pointing to a muted open on Wall Street and in Europe later today. CNBC says traders are <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/03\/25\/stock-market-today-live-updates.html\" style=\"\" rel=\"noopener\">\u201ctaking a breather\u201d<\/a> on this holiday-shortened week. US benchmarks look set to close March with their fifth straight month of gains, while Korea\u2019s Kospi just hit a two-year high. <\/p><p><a target=\"_blank\" id=\"t.dee9ab0cd0af62365953dd4d03946ff837958705\" 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\">29,344<\/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: +17.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 47.35<\/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 47.49<\/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>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 47.35<\/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 47.45<\/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\">27.25% 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\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,657<\/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: +5.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,319<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: -2.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,282<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.0% (YTD: +5.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;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\">5,218<\/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: +9.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">7,918<\/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: +2.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;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\">5,044<\/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: +11.6%)<\/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 86.75<\/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\">+1.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 1.61<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,194.90<\/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%<\/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>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 69,984.44<\/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\">+4.9% (YTD: +58.8%)<\/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 1.0% at today\u2019s close<\/strong> on turnover of EGP 3.2 bn (35.2% below the 90-day average). Regional investors were net sellers. The index is up17.9% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Delta Sugar (+11.4%), Palm Hills Developments (+11.3%), and Ibn Sina Pharma (+5.2%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>E-finance (-4.7%) and Fawry (-4.3%).<\/p><p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Credit Agricole Egypt\u2019s board approved a proposal to pay out a dividend of EGP 1.1456 per share instead of EGP 2.4700<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2322.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The decision is yet to receive the go-ahead from the general assembly.<\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/public-investment-fund\/\">Public Investment Fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"617685\" 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=\"617685\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/pm-madbouly-meets-with-us-house-committee-in-charge-of-tariffs-trade-agreements-and-tax\/\">\r\n                            Egyptian Prime Minister Madbouly meets with US House committee in charge of tariffs, trade agreements, and tax                        <\/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\/26\/pm-madbouly-meets-with-us-house-committee-in-charge-of-tariffs-trade-agreements-and-tax\/\" 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\" 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href=\"https:\/\/api.whatsapp.com\/send?text=PM+Madbouly+meets+with+US+House+committee+in+charge+of+tariffs%2C+trade+agreements%2C+and+tax+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F03%2F26%2Fpm-madbouly-meets-with-us-house-committee-in-charge-of-tariffs-trade-agreements-and-tax%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\/26\/pm-madbouly-meets-with-us-house-committee-in-charge-of-tariffs-trade-agreements-and-tax\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2317.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"617686\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/pm-madbouly-meets-with-us-house-committee-in-charge-of-tariffs-trade-agreements-and-tax\/2317-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2317.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2317.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2317.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2317.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-617685\" class=\"content-area-description single-story post-617685 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-diplomacy tag-egypt-us-relations tag-enterpriseam tag-moustafa-madbouly 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\/.bfabb133-3f32-4648-85a6-82eeac5eef5c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US House Committee on Ways and Means was in town:<\/strong> Prime Minister Moustafa Madbouly met with a delegation from the US House Committee on Ways and Means \u2014 the guys in charge of directing tax and tariff policies \u2014 led by chairman Jason Smith in the new capital today, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02oP4enHxad7aySKp1k3coiLbkE6JV9T9yhd2jVZVGoZAorU6QxG4LF1uNt7Zo3PrZl\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Economic cooperation and the war on Gaza topped the agenda: <\/strong>The American delegation stated their intent to increase trade and investment and asked the prime minister about ways to support the country\u2019s green hydrogen plans, food security, water security, and how to deepen education cooperation. The meeting also discussed the need to strengthen bilateral ties in a bid to bolster peace and security amid ongoing international crises and Madbouly stressed the need for a \"just and lasting solution\" to the Israeli-Palestinian conflict based on a two-state solution. <\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-us-relations\/\">Egypt-US relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"617687\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">12<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/egypt-ranks-ninth-for-worst-air-quality-in-iqairs-2023-world-air-quality-report\/\">\r\n                            Egypt ranks ninth for worst air quality in IQAir\u2019s 2023 World Air Quality report<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/egypt-ranks-ninth-for-worst-air-quality-in-iqairs-2023-world-air-quality-report\/\" 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\/goinggreens\/egypt-ranks-ninth-for-worst-air-quality-in-iqairs-2023-world-air-quality-report\/')\">\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\/goinggreens\/egypt-ranks-ninth-for-worst-air-quality-in-iqairs-2023-world-air-quality-report\/\">\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=Egypt ranks ninth for worst air quality in IQAir\u2019s 2023 World Air Quality report&url=https:\/\/enterpriseam.com\/egypt\/goinggreens\/egypt-ranks-ninth-for-worst-air-quality-in-iqairs-2023-world-air-quality-report\/\">\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\/goinggreens\/egypt-ranks-ninth-for-worst-air-quality-in-iqairs-2023-world-air-quality-report\/&title=Egypt ranks ninth for worst air quality in IQAir\u2019s 2023 World Air Quality report\">\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=Egypt+ranks+ninth+for+worst+air+quality+in+IQAir%E2%80%99s+2023+World+Air+Quality+report+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fgoinggreens%2Fegypt-ranks-ninth-for-worst-air-quality-in-iqairs-2023-world-air-quality-report%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>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/egypt-ranks-ninth-for-worst-air-quality-in-iqairs-2023-world-air-quality-report\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2248.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"617688\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/egypt-ranks-ninth-for-worst-air-quality-in-iqairs-2023-world-air-quality-report\/2248-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2248.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2248.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2248.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2248.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-617687\" class=\"content-area-description post-617687 goinggreen type-goinggreen status-publish has-post-thumbnail hentry category-going-green tag-climate tag-enterprise-going-green tag-enterpriseam tag-environment tag-going-green tag-iqair tag-world-health-organization wpautop entry\">\n\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\"> <strong>Egypt has maintained the bottom ninth spot for a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2607ad88-ba6d-4d5b-abdf-571a413541aa\" style=\"\" rel=\"noopener\">second<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2607ad88-ba6d-4d5b-abdf-571a413541aa\" style=\"\" rel=\"noopener\">consecutive year<\/a><\/strong><strong> for air pollution<\/strong> in the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2226.pdf\" style=\"\" rel=\"noopener\">World Air Quality Report (pdf)<\/a> for 2023 from IQAir, a Swiss company that monitors air quality. While Egypt\u2019s stats for the year saw a minor improvement over its performance in 2022, the country still has plenty to go before meeting the World Health Organisation\u2019s quality standards. However, we spoke to one government source who called the firm\u2019s methodology into question and gave us the latest on the government\u2019s efforts to improve Egypt\u2019s air quality.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The methodology:<\/strong> IQAir\u2019s report looks at how many cities around the world met WHO air quality standards in a given year by looking at the average annual concentration of small and hazardous airborne particles known as PM2.5 \u2013 one of six pollutants monitored and regulated by environmental agencies due to the \u201csignificant impacts to human health and the environment,\u201d according to the report. The WHO recommends that average annual PM2.5 readings should not exceed 5 micrograms per cubic meter (\u00b5g\/m\u00b3). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So, how did Egypt fare in 2023? <\/strong>Egypt came in 9th in 2023\u2019s ranking of countries by average PM2.5 concentration to record 42.4, maintaining its position from last year despite seeing slight improvements relative to the year before when the country came in at 46.5, according to the report. The average PM2.5 concentration in Egypt was 8.5 times the WHO annual air quality guidelines. Cairo also maintained its position in tenth place with a PM2.5 reading of 42.4, compared to 47.4 a year earlier, among the world\u2019s most polluted capital cities, and was the fifth most polluted city in Africa \u2014 an improvement over last year, when it came in third place. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The last two years were a far cry from Egypt\u2019s data for 2021: <\/strong>Egypt was the 27th most-polluted country in the world in 2021 out of 117 countries surveyed, with an annual reading of PM2.5 standing at 29.1, IQAir <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b517979a-35ea-4310-88ad-bef2c6b54cc2\/egypt-is-the-27th-most-polluted-country-in-the-world-in-2021-%2B-investors-are-amping-up-the-pressure-on-green-startups\" style=\"\" rel=\"noopener\">said<\/a> at the time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt isn\u2019t the only one falling short of WHO standards: <\/strong>Just ten out of the surveyed 134 countries and regions succeeded in achieving the World Health Organization\u2019s air quality standards in 2023 by recording PM2.5 below below the 5 \u00b5g\/m\u00b3 range \u2014 down from 13 countries last year, according to the report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The culprits: <\/strong>Egypt\u2019s air pollution primarily comes from the \u201cparticulate matter of both PM2.5 and PM10 varieties,\u201d IQAir <a target=\"_blank\" href=\"https:\/\/www.iqair.com\/egypt\" style=\"\" rel=\"noopener\">said<\/a> in a separate Egypt-centered report. The pollution mainly comes from \u201ctransportation, industry and the open burning of solid organic waste material,\u201d the report said. This is coupled with the country\u2019s close proximity to desert regions causing a large portion of dust to be blown from surrounding lands, along with the lack of rainfall. This collectively causes the quality of air in the nation\u2019s capital to vary between 10-100 times more polluted than the worldwide standards, the report adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One government official who spoke to Enterprise was less than convinced with the<\/strong><strong> Swiss firm\u2019s data<\/strong><b>:<\/b> \u201cThese statistics aren\u2019t from the Environment Ministry, but from individuals with small monitoring devices broadcasting their results unofficially online. The problem with this is that generalizing the results of a single monitoring device in one location in Cairo is entirely inaccurate,\u201d head of the air quality division at the Environment Ministry\u2019s Environmental Affairs Agency Mostafa Mourad told Enterprise. \u201cAccording to international standards, in a city with approximately 20 mn inhabitants like Cairo, there should be at least 80 monitoring stations to evaluate air quality because air quality varies from one location to another in a city of this size,\u201d Mourad argues. \u201cThis doesn\u2019t mean that there\u2019s no pollution in Cairo,\u201d Mourad continued, however, there have been considerable improvements in the Environment Ministry\u2019s monitoring of particulates in the nation\u2019s capital, he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s also no international standard for measuring air quality<\/strong><strong>: <\/strong>Mourad pointed out that there\u2019s no standardized global criteria for monitoring air quality across different countries (different criteria can be used to get different results), which makes ranking countries in a single study unreliable. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What has been done to address Cairo\u2019s air quality: <\/strong>Cairo and Alexandria\u2019s metro lines are currently undergoing an expansion to lessen the impact of pollution that comes from transportation, while the Public Transport Authority is working on implementing an electric bus system in the capital in a project funded by the World Bank and sponsored by the Environment Ministry, Mourad said. \u201cThe plan is to include up to 100 electric buses as part of a plan to have 25% of the authority's fleet powered by electricity in the next five years,\u201d he added. There is also a larger emphasis on using natural gas, as the government looks to phase out buses that operate on diesel and limit its buses to ones that run on electricity or natural gas, he continued.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And there\u2019s more in the pipeline: <\/strong>The Egyptian Pollution Abatement Project, a, EUR 145 mn project launched in the early 1990s by the Environment Ministry to help industries reduce energy and resource consumption and comply with environmental regulations, is expected to wrap up its third phase this year, according to the Environment Ministry\u2019s website. The EU is contributing EUR 10 mn to the third phase, while the European Investment Bank is putting down up to EUR 74 mn. \u201cThe project helps improve industrial company\u2019s environmental performance through offering them soft loans,\u201d Mourad previously <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2607ad88-ba6d-4d5b-abdf-571a413541aa\/what-are-industrial-players-doing-to-reduce-their-carbon-footprint%3F\" style=\"\" rel=\"noopener\">told<\/a> Enterprise. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top green economy stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>First waste treatment plant in the SCZone is live:&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/www.petrotreatment.com\/en\/\" style=\"\" rel=\"noopener\">Petrotreatment Petroleum &amp;<\/a><a target=\"_blank\" href=\"https:\/\/www.petrotreatment.com\/en\/\" style=\"\" rel=\"noopener\">Environmental Services<\/a> has invested EGP 50 mn into the first waste treatment plant in the Suez Canal region which has now gone live after ten years of construction. (<a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a8%d8%aa%d8%b1%d9%88%d8%aa%d8%b1%d9%8a%d8%aa%d9%85%d9%86%d8%aa-%d8%aa%d8%b6%d8%ae-50-%d9%85%d9%84%d9%8a%d9%88%d9%86-%d8%ac%d9%86%d9%8a%d9%87-%d9%84%d8%aa%d8%af%d8%b4%d9%8a%d9%86-%d9%85\/\" style=\"\" rel=\"noopener\">Al Mal<\/a>)<\/li>\n<li><strong>NREA could funnel some EGP 3.7 bn into renewables next fiscal year:<\/strong> The New and Renewable Energy Authority\u2019s (NREA) draft budget for the next fiscal year allocates some EGP 3.7 bn for renewable energy projects, including the 20-MW Hurghada solar power plant <a target=\"_blank\" href=\"https:\/\/enterprise.press\/stories\/2018\/04\/02\/jica-and-nrea-sign-usd-106-mn-loan-for-20-mw-hurghada-solar-power-plant-2\/\" style=\"\" rel=\"noopener\">financed<\/a> by the Japan International Cooperation Agency. (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02PgSDz5UFPwWdogkbKqZUW86ewt3X1i3ey6wycDnm49ZQgcE1TAY8Tvjsg9KhSpfCl\" style=\"\" rel=\"noopener\">Electricity Ministry statement<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/environment\/\">environment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iqair\/\">IQAir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-health-organization\/\">World Health Organization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"617689\" 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\/26\/617689\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-617689\" class=\"content-area-description single-story post-617689 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 style=\"font-weight:400;\">28 March (Thursday): Industrial Development Authority to close applications 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>29 March (Friday): IMF\u2019s Executive Board to discuss Egypt\u2019s loan program.<\/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 bid for 23 blocks 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;\">2 April (Tuesday): President Abdel Fattah El Sisi swearing in ceremony, 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;\">9 April (Tuesday): Eid El Fitr (TBC) (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15-21 April (Monday-Sunday): The IMF \/ World Bank Spring Meetings. <\/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;\">26 April (Wednesday): Clocks move forward one hour at midnight as daylight saving time starts.<\/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 style=\"font-weight:400;\">28-29 April (Sunday-Monday): Saudi Arabia hosts a World Economic Forum (WEF) meeting 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;\">2-5 May (Thursday-Sunday): Townhall Expo in Riyadh. <\/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 style=\"font-weight:400;\">29 May (Wednesday): Virtual launch of Chicago Booth Executive Program.<\/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 style=\"font-weight:400;\">2-5 September (Monday-Thursday): Egypt International Airshow, 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 style=\"font-weight:400;\">25-26 September (Wednesday - Thursday): The Asian Infrastructure Investment Bank\u2019s (AIIB) 2024 annual meeting, Samarkand, Uzbekistan.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 October (Sunday): Armed Forces Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17 October (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21-27 October (Monday-Sunday): The World Bank and IMF annual meetings.<\/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 style=\"font-weight:400;\">February 2024: Funds from the Islamic Development Bank for the high speed electric railway 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 style=\"font-weight:400;\">February-May: The Grand Egyptian Museum could officially open to visitors.<\/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;\">March 2024: The USD 2.7 bn MIDOR Refinery is set to begin 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 style=\"font-weight:400;\">June 2024: Gov\u2019t expects to finalize sale 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 style=\"font-weight:400;\">November 2024: Egypt to host 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:400;\">20 January-7 February: Egypt to host the African Games<\/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>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>Gov\u2019t launches war on commodity prices | Concrete shares up 17% | IMF to review loan package Friday | Port backlogs kaput?<\/p>\n","protected":false},"featured_media":617660,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-617659","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"3b545a0d-6b12-4a0a-a67e-210ce11a4d0d","teaser":"Gov\u2019t launches war on commodity prices | Concrete shares up 17% | IMF to review loan package Friday | Port backlogs kaput?","photo_url":"https:\/\/ent.news\/2024\/2\/2426.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Mubadala snaps up Adwia parent company Kelix Bio - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/mubadala-snaps-up-adwia-parent-company-kelix-bio\/\" \/>\n<meta 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