{"id":617896,"date":"2024-03-31T00:00:00","date_gmt":"2024-03-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=617896"},"modified":"2025-12-17T04:52:54","modified_gmt":"2025-12-17T04:52:54","slug":"we-are-getting-the-first-of-the-imf-funds-this-week-after-executive-board-approved-expanded-loan-program","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/we-are-getting-the-first-of-the-imf-funds-this-week-after-executive-board-approved-expanded-loan-program\/","title":{"rendered":"We are getting the first of the IMF funds this week after executive board approved expanded loan program"},"content":{"rendered":"<section id=\"617898\" 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=\"617898\">\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\/31\/el-sisi-begins-his-third-term-in-office-this-week\/\">\r\n                            Egypt\u2019s El Sisi begins his third term this week                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2643.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"617899\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/31\/el-sisi-begins-his-third-term-in-office-this-week\/2643-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2643.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2643.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2643.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2643.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-617898\" class=\"content-area-description single-story post-617898 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-ittihadiya 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\/.b8c9313b-18c4-4b01-9fb9-b984687f7220.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people, and welcome to the last full workweek of Ramadan. <\/strong>It is shaping up to be another busy week as we gear up to welcome the first of our IMF funds and President El Sisi\u2019s third term. <\/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 6:13 pm in the capital city, and you\u2019ll have until4:16 am tomorrow to hydrate and caffeinate ahead of fajr.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s a foggy morning in Cairo. <\/strong>You may want to leave for work a tad earlier than usual as the Egyptian Meteorological Authority sees <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/photo?fbid=805467391611830&amp;set=pcb.805467494945153\" style=\"\" rel=\"noopener\">foggy skies across Greater Cairo from 4-9am<\/a>. The capital is in for a high of 29\u00b0C and a low of 18\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a little cooler in Alexandria<\/strong>, with a high of 26\u00b0C and a low of 14\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/f20ed150-b28c-464b-8a18-35d90ccbdcb8\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/edition\/am\/5af943c9-5e9c-4f2e-ad6b-78af1de98cf8\" style=\"\" rel=\"noopener\">the UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">** <strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge. <\/p><p class=\"tag-border-left\">HAPPENING THIS WEEK-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt3\"><\/a> <strong>President Abdel Fattah El Sisi will officially begin his third term\u00a0<\/strong>when he takes the constitutional oath before the House of Representatives at the new administrative capital.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tuesday\u2019s inauguration will see the presidency begin its move to the new capital<\/strong>, Administrative Capital for Urban Development CEO Khaled Abbas confirmed yesterday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Get ready for a cabinet shuffle?<\/strong> El Sisi\u2019s new term is likely to start with some new faces at the helm of some of the country\u2019s ministries and other government bodies. <strong>Cue the rumor mill.<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A vice president? <\/strong>There is talk that the government could appoint one or more vice presidents to accompany El Sisi during his third term, well-connected MP and TV presenter Mostafa Bakry said. (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=sJS6Bl2flVQ\" style=\"\" rel=\"noopener\">watch, runtime: 6:02<\/a>). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The economics ministry resurrection? <\/strong>There is also \u201cserious deliberation\u201d on resurrecting the economics ministry, Bakry added.The Economics Ministry was scrapped during Mubarak\u2019s time in 2001 but it remained part of the government\u2019s fabric, with most of its function redistributed across several ministries, including the Planning and Economic Development Ministry currently held by Hala El Said. Youssef Boutros Ghali was the last to hold the position of Economics Minister. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** El Sisi has ambitious targets for his third term: <\/strong>You can check out our deep dives into the targets for:<\/p><ul>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0972661b-a8a3-4d61-9802-d9d9fd984327\/a-look-through-gov%25e2%2580%2599t-targets-for-the-infrastructure-sector-over-the-next-six-years\" style=\"\" rel=\"noopener\">Infrastructure<\/a> <\/li>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/18370d5b-54f3-4fc7-9850-dc2211d8f278\/recapping-egypt%25e2%2580%2599s-manufacturing-development-strategy-through-to-2030\" style=\"\" rel=\"noopener\">Manufacturing<\/a> <\/li>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15d6f791-948f-4bbb-9bd3-3ddb57475e44\/a-whole-lot-of-green-ambitions-for-el-sisi%25e2%2580%2599s-new-term\" style=\"\" rel=\"noopener\">Green energy<\/a> <\/li>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f9eabc86-b178-4e1d-ae1f-98c02b1e43c0\/what-the-tourism-sector-needs-in-terms-of-infrastructure-changes,-according-to-industry-players\" style=\"\" rel=\"noopener\">Tourism<\/a> <\/li>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bb2295d9-243b-41f0-b526-ad5c1d44c997\/el-sisi%25e2%2580%2599s-third-term-comes-bearing-major-export-and-transport-targets\" style=\"\" rel=\"noopener\">Trade and logistics<\/a> <\/li>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e94bb97-4820-4349-bc3a-d65afa8cdcb1\/egypt-looks-towards-airport-expansion,-smart-policy,-and-the-private-sector-to-support-its-ambitious-aviation-goals\" style=\"\" rel=\"noopener\">Aviation<\/a> <\/li>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/06438f39-0351-4f4d-8d74-79c429d2f7ab\/what-does-el-sisi%25e2%2580%2599s-third-term-have-in-store-for-the-education-sector%3F\" style=\"\" rel=\"noopener\">Education<\/a> <\/li>\n<\/ul><p class=\"tag-border-left\">HAPPENING TODAY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>It\u2019s budget season: <\/strong>The draft state budget and the first ever Public Government Budget for the next fiscal year will be presented to the House today after the two documents were <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0ss6TaYALBeCA5vQExQMLYKWHbdp7Mh6NcCubfsVnuFvPLnKxKJaE3fsCkJmNRqUfl\" style=\"\" rel=\"noopener\">greenlit<\/a> by the cabinet last week.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The headline figure:<\/strong> The Public Government Budget pencils in revenues of EGP 5.1 tn and expenses of EGP 6.4 tn for the next fiscal year.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Budget season is going to be a bit different this time round, with the issuing of the first <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/146b3145-ac54-4832-be15-9e2799b474bc\" style=\"\" rel=\"noopener\">Public Government Budget<\/a>. The new budget \u2014 which does not replace the state budget \u2014 shows the budgets of all the state\u2019s economic bodies in addition to the state budget collated together. The first phase includes some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe8be5ef-1808-4344-aa09-d303ff2fe7a2\" style=\"\" rel=\"noopener\">40 economic bodies<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other key targets from the draft budget to keep an eye on:<\/strong><\/p><ul>\n<li>An increase of over 30% in allocations for the health and education sectors, which are deemed to be top priorities.<\/li>\n<li>Channeling <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f39bafa5-1db6-4158-8c53-f20e036939e8\/\" style=\"\" rel=\"noopener\">50% of the privatization program\u2019s proceeds<\/a> into reducing the government\u2019s outstanding debt and improving debt sustainability.<\/li>\n<li>An <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4286f10b-5618-426b-87de-d53d22d9591a\" style=\"\" rel=\"noopener\">EGP 1 tn cap<\/a> on public investment for all state entities.<\/li>\n<\/ul><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\">WATCH THIS SPACE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- Egypt to restart LNG\u00a0<\/strong><strong>exports<\/strong><strong> i<\/strong><strong>mports starting next month?<\/strong> The Madbouly government is reportedly considering buying LNG from outside the country to hedge against potential energy shortages ahead of the summer season after having just <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/92d64315-b5aa-4c9c-8409-26fbcabc9029\/egypt-to-resume-lng-exports-in-january\" style=\"\" rel=\"noopener\">restarted<\/a> exports \u2014 albeit in much reduced quantities \u2014 this winter, writes <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-03-28\/egypt-mulls-lng-imports-to-avoid-shortages-during-summer-heat\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, citing unnamed sources it says are familiar with the matter. Inquiries have reportedly been made to launch deliveries starting next month through the summer using Jordan\u2019s LNG import terminal in Aqaba, with plans to eventually have its own terminal. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This wasn\u2019t the plan: <\/strong>After becoming a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b05357d8-d636-4372-a069-cf77d948b1e7\/egypt%25e2%2580%2599s-lng-exports-are-maxed-out\" style=\"\" rel=\"noopener\">net exporter<\/a> of LNG in 2018, Egypt has been trying to position itself an important LNG exporter to Europe and to fully utilize the 12 mn tons a year capacity from its two liquefaction plants in Damietta and Idku. However, a fall in domestic gas production and a rise in domestic demand coupled with an unusually hot summer and Israel temporarily halting gas supplies has derailed its plans. LNG exports <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fa251d63-f340-4886-b43d-3c792acc96a5\/shin-bet-head-in-cairo\" style=\"\" rel=\"noopener\">dropped 52% y-o-y<\/a> to 3.52 mn tons in 2023.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#2- Commodity prices fall: <\/strong>A number of retailers across the country have responded to government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2d637305-5938-4ad5-b7e6-318cad8bf8f7\" style=\"\" rel=\"noopener\">directives<\/a> to slash commodity prices, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/03\/30\/1779520\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports. Poultry prices have already seen a 10% drop in prices over the past few days and are expected to decline by another 15% following Ramadan, Poultry Producers Union Chairman Mahmoud Al Anani reportedly told Al Borsa. <\/p><p class=\"tag-border-left\">WAR WATCH-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>Another round of ceasefire talks?<\/strong> Israel and Hamas will resume ceasefire negotiations in Cairo today, a security official reportedly told Al Qahera News (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=12_eLYLpkBw\" style=\"\" rel=\"noopener\">watch, runtime: 00:20<\/a>). This comes after Israeli Prime Minister Benjamin Netanyahu agreed to send delegations to Egypt and Qatar to take part in ceasefire and hostage exchange negotiations,\u00a0<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israels-netanyahu-agrees-send-delegation-egypt-qatar-gaza-talks-2024-03-29\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported, citing Netanyahu\u2019s office.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A lot of meetings on Gaza: <\/strong>Foreign Minister Sameh Shoukry has a busy weekend, meeting with <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid0PtZYzSd6kcbLTz1qPamd1bzQ2d1k8GNLJ9mCNi4LbTJFq8Z98eGi2WQebT55XTeZl\" style=\"\" rel=\"noopener\">Tariq Ahmad, the UK\u2019s minister for the Middle East<\/a> on Thursday and his French and Jordanian counterparts (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/live\/?ref=watch_permalink&amp;v=952071719616443\" style=\"\" rel=\"noopener\">watch, runtime: 30:41<\/a>) yesterday to discuss the latest on Gaza. The parties reiterated calls for a ceasefire in Gaza and boosting humanitarian aid. <\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s one of the quietest mornings for global business news <\/strong>that we can recall in a very long time \u2014 and it\u2019s no surprise, really: Huge swaths of the business world are either taking time off this weekend for Easter or are in the final days of Ramadan. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MORNING MUST-READ: \u201cSuccessful entrepreneurs are middle-aged, not young.\u201d <\/strong>It\u2019s not a myth that there are successful in their 20s \u2014 hello, Steve Jobs and Mark Zuckerberg \u2014 but US research on company data from 2007 through 2014 shows that:<\/p><ul>\n<li>The average age of a founder: 41.9<\/li>\n<li>The average age fo the fastest-growing companies in the cohort: 45<\/li>\n<li>Fifty-year-old founders were nearly 2x as likely as a 30-year-old counterpart to achieve \u201cmajor success\u201d<\/li>\n<li>The least-likely to succeed: Founders in their 20s.<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>READ- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/tsmc-morris-chang-taiwan-semiconductor-chips-entrepreneurship-506fcbc4?mod=hp_lead_pos7\" style=\"\" rel=\"noopener\">He turned 55. Then he started the world\u2019s most important company<\/a><\/strong>, the lead story in this morning\u2019s Wall Street Journal, which looks at what middle-aged entrepreneurs can learn from Morris Chang, who was 55 when he created the world\u2019s largest and most important chipmaking company. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2642.pdf\" style=\"\" rel=\"noopener\">Age and high-growth entrepreneurship (pdf)<\/a><\/strong>, in the American Economic Review, the 2020 paper the Journal cites. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CATCH UP QUICK-<\/strong><\/p><ul>\n<li><a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/03\/28\/live-updates-ftx-founder-sam-bankman-fried-sentencing.html\" style=\"\" rel=\"noopener\">FTX founder Sam Bankman-Fried was handed a 25-year sentence for crypto fraud<\/a>. (CNBC)<\/li>\n<li><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d181a996-780b-440a-9e84-4a1a18cae214\" style=\"\" rel=\"noopener\">European bank shares hit six-year high on surging profits and returns<\/a>. (Financial Times)<\/li>\n<li><a target=\"_blank\" href=\"https:\/\/www.axios.com\/2024\/03\/30\/ipo-ipos-astera-reddit-watch\" style=\"\" rel=\"noopener\">US<\/a><a target=\"_blank\" href=\"https:\/\/www.axios.com\/2024\/03\/30\/ipo-ipos-astera-reddit-watch\" style=\"\" rel=\"noopener\">IPOs are picking up again \u2014 but don\u2019t expect a flood just yet<\/a>. (Axios)<\/li>\n<\/ul>\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\/ittihadiya\/\">Ittihadiya<\/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=\"617900 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=\"617900\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/31\/617900\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-617900\" class=\"content-area-description single-story post-617900 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> 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=\"617901\" 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=\"617901\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/31\/imf-greenlights-the-dispersal-of-usd-820-mn-after-approving-expanded-usd-8-bn-loan-program-plus-eu-fastracks-eur-1-bn-of-aid-package\/\">\r\n                            IMF greenlights the dispersal of USD 820 mn after approving expanded USD 8 bn loan program for Egypt. PLUS: EU fastracks EUR 1 bn of aid package                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn 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\/31\/imf-greenlights-the-dispersal-of-usd-820-mn-after-approving-expanded-usd-8-bn-loan-program-plus-eu-fastracks-eur-1-bn-of-aid-package\/\" 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\/31\/imf-greenlights-the-dispersal-of-usd-820-mn-after-approving-expanded-usd-8-bn-loan-program-plus-eu-fastracks-eur-1-bn-of-aid-package\/')\">\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\/31\/imf-greenlights-the-dispersal-of-usd-820-mn-after-approving-expanded-usd-8-bn-loan-program-plus-eu-fastracks-eur-1-bn-of-aid-package\/\">\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=IMF greenlights the dispersal of USD 820 mn after approving expanded USD 8 bn loan program. 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Of the total USD 8 bn program, the Fund also approved a decision to let the state \u201cimmediately draw\u201d around USD 820 mn, which should be arriving this week, according to <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02Urf6o6MWCYfM53QUG2bT7U8KEqWmNExtELYmCSak1ABw57Mf5Z64wxpef9cAwJvZl\" style=\"\" rel=\"noopener\">comments<\/a> made by Prime Minister Moustafa Madbouly yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why the top-up? <\/strong>A challenging macroeconomic environment of high inflation, foreign exchange shortages, and mounting debt \u2014 triggered in part by the war in Ukraine and exacerbated by the war on Gaza and tension in the Red Sea \u2014 have \u201ccalled for decisive domestic policy action supported by a more robust external financing package, including from the IMF,\u201d the lender said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Authorities announced the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/033d5dd6-d417-4ad7-8154-b113a19b96a7\/\" style=\"\" rel=\"noopener\">agreement<\/a> on the extension of the program earlier this month after floating the EGP and enacting a jumbo 600-bps interest rate hike, months after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/df8e1343-11a4-48a5-980f-ca9f9eb5ebc8\" style=\"\" rel=\"noopener\">recurrent hints<\/a> from the IMF that we were in line for additional funding.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IMF has taken note of recent progress: <\/strong>\u201cRecent measures toward correcting macroeconomic imbalances, including unification of the exchange rate, clearance of the foreign exchange demand backlog, and significant tightening of monetary and fiscal policies, were difficult, but critical steps forward,\u201d the Fund\u2019s Managing Director Kristalina Georgieva said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But one key target is yet to be fulfilled:<\/strong> A criterion on net international reserves was the one quantitative performance target for end-June 2023 that Egypt failed to meet. The Executive Board approved a request by the government for a waiver \u201con the basis of corrective actions,\u201d the Fund said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sustained reforms are \u201csubject to risks,\u201d<\/strong>Georgieva added at the end of her statement. The Fund\u2019s managing director warned that \u201cexternally, uncertainty remains high\u201d and that \u201csustaining the shift to a liberalized foreign exchange system, maintaining tight monetary and fiscal policies, and integrating transparently off-budget investment into macroeconomic policy decision making will be critical.\u201d She also cautioned that the country needs to manage the return of capital inflows well to reduce the risk of external pressures going forwards and to keep inflation under control.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This has been a long time coming:<\/strong> The IMF approved Egypt\u2019s USD 3 bn EFF back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c374319e-e849-44f6-bf5a-8179fb41caf5\" style=\"\" rel=\"noopener\">December 2022<\/a>, but held off on disbursing most of it and delayed two reviews \u2014 initially scheduled for March and September of last year \u2014 after we failed to meet several key conditions of the loan, including a commitment to implement a fully flexible exchange rate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More funds to follow?<\/strong> The expanded facility gives Egypt the right to apply for USD 1.2 bn in long-term, low-cost climate financing under the IMF\u2019s Resilience and Sustainability Facility, Finance Minister Mohamed Maait <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02mCpWJexpJhciX4NSpMR4mRhMF8XPXGDSFCNJpbQxtLLzpp2PvRgGyKaNgxfcy4LDl\" style=\"\" rel=\"noopener\">confirmed<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A look into the IMF\u2019s crystal ball:<\/strong><\/p>\n<ul>\n<li><strong>The economy will grow<\/strong> at a 4.4% clip in the fiscal year 2024-2025, a 0.3 percentage point downward revision from its projection in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21492e0c-4252-4e18-8696-f420040fffcd\" style=\"\" rel=\"noopener\">January<\/a> \u2014 and 0.2 percentage points higher than the government\u2019s most recent <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1bd53619-0a0c-4348-81f9-766539179c3c\" style=\"\" rel=\"noopener\">forecast<\/a>. The Fund\u2019s growth forecast for the current fiscal year remains at 3.0%.<\/li>\n<li><strong>Inflation <\/strong>will decline to 32.1% at the end of this fiscal year, before halving to 15.3% by the end of FY 2024-25.<\/li>\n<li><strong>The budget deficit<\/strong> will widen to 6.3% of GDP this fiscal year and to 8.5% next year.<\/li>\n<li><strong>The primary surplus<\/strong> will jump to 7.1% of GDP this fiscal year before it recedes to 4.5% in the next. <\/li>\n<li><strong>FDI<\/strong> will exceptionally jump to 9.3% of GDP this fiscal year \u2014 thanks to Ras El Hekma \u2014 and return back to 2.5% next year.<\/li>\n<li><strong>External debt<\/strong> will rise to 43.0% of GDP this fiscal year and 45.4% next year.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The international press also took an interest in the story:<\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-03-29\/imf-approves-8-billion-egypt-loan-as-global-bailout-takes-shape?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nasdaq.com\/articles\/imf-approves-$5-bln-add-on-to-egypts-loan-programme\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">EU TO FAST-TRACK EUR 1 BN IN AID-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EUR 1 bn from the EU on its way?<\/strong> The European Union plans to expedite the delivery of some EUR 1 bn in macro-financial assistance to Egypt under its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/183954ef-4dc7-49c8-9499-743e77de1e74\/eu-pledges-eur%253cmark%253e-7.4-bn-%253c%2Fmark%253eaid-package-for-egypt\" style=\"\" rel=\"noopener\">EUR 7.4 bn aid package<\/a> by applying an emergency funding mechanism that side-steps the EU Parliament\u2019s approval as well as an evaluation of the funding\u2019s effects, the <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/eu-egypt-migration-economy-assistance-funds-de321fcac53cf9c15ac323e743bb7574\" style=\"\" rel=\"noopener\">Associated Press<\/a> reports, citing a letter penned by European Commission President Ursula von der Leyen to the parliament ahead of the package\u2019s announcement. The plan is part of the bloc\u2019s efforts to \u201cmake sure that a first significant contribution\u201d reaches Egypt by the end of 2024, von der Leyen wrote.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The why:<\/strong> While it\u2019s unusual for the bloc to bypass financing safeguards, European Parliament elections scheduled for 6-9 June mean that upholding these controls would slow the delivery of funds. Von der Leyen cautioned of a \u201crapidly deteriorating economic and fiscal situation\u201d triggered by \u201ca very large exposure to the economic effects of Russia \u2019s full-scale war of aggression on Ukraine, the wars in Gaza and Sudan, and the Houthi attacks in the Red Sea.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>D\u00e9j\u00e0 vu?<\/strong>Egypt\u2019s ambassador to the EU Badr Abdelatty <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48abf1bf-911b-4e73-acb1-3970be5f9bc4\/a\" style=\"\" rel=\"noopener\">told<\/a> the press last week that the bloc would disburse some EUR 1 bn worth of concessional loans in the short term, confirming earlier <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8cc6d2e9-eac7-45f2-812b-040db3f9c44a\/\" style=\"\" rel=\"noopener\">reports<\/a> from foreign media outlets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The controversy: <\/strong>Fast tracking the package bypassess the oversight of the EU Parliament and does away with the need for impact assessments. Following the EU elections, the EU parliament will be \u201cfully involved\u201d with the remaining EUR 4 bn of macro-financial assistance that will be given out after Egypt commits to \u201cmore comprehensive\u201d reforms, Von der Leyen added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Egypt has over the past weeks lined up some USD 57 bn worth of foreign support \u2014 including the IMF\u2019s expanded USD 8 bn loan, the EU\u2019s EUR 7.4 bn package, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/19bac262-1a66-4b6e-af15-3fd23f52c1e2\" style=\"\" rel=\"noopener\">USD 6 bn<\/a> in financing from the World Bank, and ADQ\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0b97fcf-95b0-4d39-86ae-0a4989221520\" style=\"\" rel=\"noopener\">USD 35 bn agreement<\/a> for the development of Ras El Hekma.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>SPEAKING OF<\/strong><strong> RAS EL HEKMA- <\/strong>The second tranche of the funds from the Abu Dhabi wealth fund ADQ are expected to arrive in the nation\u2019s coffers at the beginning of May, Prime Minister Moustafa Madbouly said (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=SqA3nM1sAaY\" style=\"\" rel=\"noopener\">watch, runtime: 2:30<\/a>). We received the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c56ceb8-55ac-4055-b827-61334472f26c\/el-sisi%25e2%2580%2599s-address-announcing-the-arrival-of-the-first-tranche-of%253cmark%253e-ras-el-hekma-%253c%2Fmark%253efunds-dominated-the-airwaves-last-night\" style=\"\" rel=\"noopener\">first tranche of the payment late February<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How much are we talking? <\/strong>ADQ still has to pay the remaining USD 20 bn \u2014 USD 6 bn of which will be from UAE\u2019s existing deposits at the Central Bank of Egypt.<\/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\/devaluation\/\">devaluation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kristalina-georgieva\/\">Kristalina Georgieva<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ursula-von-der-leyen\/\">Ursula von der Leyen<\/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=\"617903\" 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=\"617903\">\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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/31\/cbe-auctions-off-more-egp-t-bills-this-time-at-a-much-lower-yield\/\">\r\n                            Egypt auctions off more EGP t-bills, this time at a much lower yield                        <\/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\/31\/cbe-auctions-off-more-egp-t-bills-this-time-at-a-much-lower-yield\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The average yield of the one-year bills dropped to 25.9%<font face=\"Arial\"> <\/font>from a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7eec1106-cde7-43d7-92cd-b6c24921eb14\" style=\"\" rel=\"noopener\">record high<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7eec1106-cde7-43d7-92cd-b6c24921eb14\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7eec1106-cde7-43d7-92cd-b6c24921eb14\" style=\"\" rel=\"noopener\">32.3%<\/a> earlier this month, while the six-month bills\u2018s average yield dropped to 25.75% from 31.84%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Demand is still high:<\/strong> The one-year bills received offers over 4x its original ask and six-month bills 2x its ask. Short-term <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/13d4aac6-3f97-4af8-a38d-2788c92c17da\/Float-encourages-foreign-investors\" style=\"\" rel=\"noopener\">local debt has been extremely attractive<\/a> to both local and foreign investors since the central bank floated the EGP, with the central bank\u2019s many t-bills auctions post float being met with high demand \u2014 a one-year bill auction a week earlier was met with a record EGP 408.1bn in demand. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Which explains the dip in yields: <\/strong>With the market stabilizing, the EGP finding its balance post float, and FX inflows resuming, investor confidence in Egypt and its economic stability has returned, meaning the central bank no longer needs to auction off bills at extremely high yields to reel investors in.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also helping: <\/strong>The risk of further currency depreciation has waned and the premium to hold t-bills rose to a record compared to other emerging-market notes, sparking a renewed interest in carry trade \u2014 the process by which investors borrow at low interest rates to invest in emerging market currencies at higher rates. \u201cInvestors had waited for an inflection point in the local market story to get involved in size in carry trade positions,\u201d Standard Chartered Bank\u2019s Head of Africa Strategy Samir Gadio told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-03-27\/yield-hunters-enticed-by-policy-u-turn-flock-to-egypt-local-debt\" style=\"\" rel=\"noopener\">Bloomberg<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the boom could be short lived: <\/strong>\u201cWhile t-bill auction demand is still robust, it could moderate further from recent record highs as yields ease,\u201d Gadio added. \u201cThere was probably a lot of t-bill demand front-loading immediately after the devaluation.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s more or less the same story for bonds: <\/strong>Last week the bank auctioned off EGP 2.9 bn in EGP fixed coupon three-year t-bonds at an average yield of 25.46% down from 26.23% earlier in the month. The auction saw bids for rates as high as 45%. Higher pricing on longer-term instruments generally reflects investors\u2019 views of risk on that time horizon \u2014 but can also simply be a case of investors waiting to lock in better returns by seeing whether they can bid up the yield. <\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/carry-trade\/\">carry trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/treasuries\/\">treasuries<\/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=\"617905\" 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=\"617905\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/31\/sczone-greenlights-new-industrial-projects\/\">\r\n                            Egypt\u2019s SCZone grants final approvals for industrial projects                        <\/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\/31\/sczone-greenlights-new-industrial-projects\/\" 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\/31\/sczone-greenlights-new-industrial-projects\/')\">\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\/31\/sczone-greenlights-new-industrial-projects\/\">\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=SCZone greenlights new industrial projects&url=https:\/\/enterpriseam.com\/egypt\/2024\/03\/31\/sczone-greenlights-new-industrial-projects\/\">\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\/31\/sczone-greenlights-new-industrial-projects\/&title=SCZone greenlights new industrial projects\">\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=SCZone+greenlights+new+industrial+projects+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F03%2F31%2Fsczone-greenlights-new-industrial-projects%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\/31\/sczone-greenlights-new-industrial-projects\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2639.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"617906\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/31\/sczone-greenlights-new-industrial-projects\/2639-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2639.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2639.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2639.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2639.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-617905\" class=\"content-area-description single-story post-617905 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam tag-industry tag-investment-watch tag-manufacturing tag-orascom-industrial-parks tag-suez-canal-economic-zone 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\/.135833f8-5f84-4a6e-8c11-91ce0a206170.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>New projects coming to the SCZone:<\/strong> The General Authority of the Suez Canal Economic Zone (SCZone) has greenlit a number of projects when it met yesterday, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02za6sQABnxgMVgkDaHXPfrc5ia9cDknZPhG73aRdmuRmQ8RJpjiJwmgdP3C4vkJK8l\" 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>#1- Orascom Industrial Parks to develop EGP 13 bn industrial complex: <\/strong>Orascom Construction subsidiary Orascom Industrial Parks received approval from the authority to develop and manage a EGP 13 bn integrated industrial complex in the Sokhna Industrial Zone. The complex will be implemented in two phases.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Turkey\u2019s DNM is setting up two projects: <\/strong><a target=\"_blank\" href=\"https:\/\/dnmdenim.com\/about\/\" style=\"\" rel=\"noopener\">DNM Textile for Spinning, Weaving and Dyeing<\/a> \u2014 an investment venture of Turkish clothing firm Eroglu Holding \u2014 received approval to move forward with a USD 40 mn denim factory in Qantara West Industrial Zone, as well as an industrial complex for spinning, weaving, clothing, mattress, and furnisher production. Some 70% of the denim factory\u2019s production will be exported. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Local ready-made garment maker Eroglu Egypt \u2014 the local arm of the Turkish Eroglu Holding \u2014 will build a USD 150 mn ready-made clothing factory in Qantara West Industrial Zone, under a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6d22b157-fea2-45f8-9b75-2242a6952327\/sczone-inks-framework-agreements-for-five-industrial-projects\" style=\"\" rel=\"noopener\">framework agreement inked with the SCZone<\/a>. Meanwhile, Turkey\u2019s Jade Textile signed a framework agreement to invest USD 30 mn in ready-made garments unit for a larger factory that will also house a USD 35 mn dyeing unit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- SCZone\u2019s green fuel is heading to Europe: <\/strong>The SCZone will create a route to transport green fuel produced in the zone to the Dutch Port of Rotterdam, which will help the fuel reach European markets, under an MoU inked between the two sides. The MoU will also see the two sides working on the green bunkering corridor that will link Singapore to Rotterdam through the Suez Canal, creating the first corridor for green bunkering between Asia, Africa, and Europe. <\/p>\n<p dir=\"rtl\" style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Jotun inaugurates USD 100 mn factory:<\/strong> Norwegian paint manufacturer Jotun\u2019s new USD 100 mn industrial paint and varnish factory has kicked off operations, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0338r4DRmwEuTUqEenzTWCKaPtrGnzY8cyw5oxo8sTg85HirL9xjrLpzZfQdxwKS9Tl\" style=\"\" rel=\"noopener\">statement<\/a>. Located in the Tenth of Ramadan industrial zone, the factory \u2014 Jotun\u2019s largest venture in Egypt \u2014 has a production capacity of 70 mn liters per shift.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another Madbouly tour: <\/strong>The inauguration came during Prime Minister Moustafa Madbouly\u2019s tour to the Tenth of Ramadan industrial zone, where he also visited the factories of <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0qyENDbTTbjLeJd1KiT6iRgocvTSQuGQJAjGZnKyfou7E6tVEGK5sT5nNHAVKhdS1l\" style=\"\" rel=\"noopener\">Beko<\/a>, <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0Wn41HoSgjFxEWEQC8Xx4VjdPEGvMyrRpAWjUeteKrRJAwnSACcJq97EFaZMXXBwVl\" style=\"\" rel=\"noopener\">Haier<\/a>, <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid022mmcoY1bVs79HYrnKMpgpMdfpcdkELzRKQWLn9fobxm465dTzexQQWAQwmrq6MUml\" style=\"\" rel=\"noopener\">Fresh Electric<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0WfpyuV4deh4eJn7GRrUK41ppiaWzMwVfj6eXQ8iBq4Frky1KQ5ZhD56VGu75iWCCl\" style=\"\" rel=\"noopener\">Elsewedy Transformers<\/a>. Monthly visits to manufacturers have become <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/065926b9-d12f-499b-a460-682b592d15ae\/\" style=\"\" rel=\"noopener\">a staple in Madbouly\u2019s agenda<\/a>, in a bid to draw attention to the increasing importance of industry to narrow our trade deficit, and highlight Egypt\u2019s natural position as an export hub serving Europe, Africa, the Middle East and beyond.<\/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\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span 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class=\"\r\n                story-section            \"\r\n            id=\"617907\">\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\">Development finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/31\/egypt-italy-sign-agreements-to-back-msmes-vocational-training-and-much-more\/\">\r\n                            Egypt, Italy sign agreements to back MSMEs, vocational training, and much more                        <\/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      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data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2630.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2630.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-617907\" class=\"content-area-description single-story post-617907 post type-post status-publish format-standard has-post-thumbnail hentry category-development-finance tag-afreximbank tag-development-finance tag-enterpriseam tag-eu tag-international-cooperation-ministry tag-italy tag-manufacturing tag-orascom-construction tag-smes tag-transport 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\/.e3f44f38-9190-41cf-8fb3-6625ee140e42.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A raft of Egypt-Italy agreements:<\/strong> The Madbouly government and local private players have signed several agreements with their Italian counterparts, which will see Italy pour over EUR 150 mn into Egypt, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0UMPaEmLxzMiN9cULYR7GFhx9zfXdHDosJzLusQFPmfy3SyLUm7cTqaW3W68uN36hl\" style=\"\" rel=\"noopener\">statement<\/a> from the International Cooperation Ministry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> The EU agreed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/183954ef-4dc7-49c8-9499-743e77de1e74\" style=\"\" rel=\"noopener\">earlier this month<\/a> on a EUR 7.4 bn support package for Egypt under a new strategic and comprehensive partnership, which aims to support the country\u2019s economic stability and address migration flows into the bloc.<\/p>\n<p class=\"tag-border-left\">MSME SUPPORT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- EUR 100 mn to back food security projects:&nbsp;<\/strong>The Italian Deposits and Loans Fund will back African MSME projects that focus on food security via a EUR 100 mn package under an agreement with AfreximBank. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- EUR 45 mn to support MSMEs:<\/strong> The Italian fund will support the Micro, Small, and Medium Enterprise Development Agency (MSMEDA) with a EUR 45 mn support package<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Financial support for Egyptian-Italian MSMEs:<\/strong> Italy\u2019s ins.-financial group <a target=\"_blank\" href=\"https:\/\/www.sace.it\/en\" style=\"\" rel=\"noopener\">SACE<\/a> has signed an MoU with the Bank of Alexandria to provide financial support for trade between Egyptian-Italian MSMEs. SACE has also signed another MoU with Orascom Construction to support Italian companies working on infrastructure projects in Egypt.<\/p>\n<p class=\"tag-border-left\">GRANTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some EUR 5 mn grant agreements were inked <\/strong>between the International Cooperation Ministry and Italy\u2019s Foreign Ministry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- A EUR 3 mn grant <\/strong>will provide technical support for leather, furniture, and marble industrial zones in Egypt to optimize their production capacities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- A EUR 1.8 mn grant <\/strong>will go to the National Council for Persons with Disabilities to boost its efforts integrating people with disabilities in society. <\/p>\n<p class=\"tag-border-left\">ALSO INKED-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Railways agreements:<\/strong> Italy\u2019s hospitality group <a target=\"_blank\" href=\"https:\/\/arsenalegroup.com\/en\/home-en\/\" style=\"\" rel=\"noopener\">Arsenale<\/a> will support the development of a tourist train in Egypt under an MoU inked with the Egyptian Railways Authority. The authority also inked an agreement with the Italian rail transport technologies developer <a target=\"_blank\" href=\"https:\/\/www.mermecgroup.com\/northamerica\/61\/mermec-inc.php\" style=\"\" rel=\"noopener\">MERMEC<\/a> to procure a multiple-unit train.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Vocational education agreements:<\/strong> The General Confederation of Italian Industry (<a target=\"_blank\" href=\"https:\/\/www.confindustria.it\/home\" style=\"\" rel=\"noopener\">Confindustria<\/a>) and the Federation of Egyptian Industries will cooperate on technical and vocational education under an MoU inked between the two sides. Meanwhile, Italy\u2019s hospitality school <a target=\"_blank\" href=\"https:\/\/sio.edu.eu\/en\/\" style=\"\" rel=\"noopener\">Scuola Italiana di Ospitalit\u00e0<\/a> and Egypt\u2019s Pickalbatros Hotels and Resorts Group signed an MoU to provide hospitality training programs.<\/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\/afreximbank\/\">AfreximBank<\/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\/eu\/\">EU<\/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\/italy\/\">Italy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/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=\"617909\" 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=\"617909\">\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\">FINANCIAL SERVICES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/31\/how-did-non-banking-financial-services-perform-during-4q-2023\/\">\r\n                            How did Egypt\u2019s non-banking financial services perform during 4Q 2023?                        <\/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\/31\/how-did-non-banking-financial-services-perform-during-4q-2023\/\" 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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Sums taken out were up across the board \u2014 leasing, factoring, consumer finance, MSMEs, and mortgage financing were all up during 4Q 2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown: <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The value of leasing contracts<\/strong> jumped about 68% y-o-y to almost EGP 39 bn in 4Q. Meanwhile, the number of contracts signed during the quarter shrank by around 19% y-o-y to 575.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Factoring receivables<\/strong> grew by 20.5% y-o-y in 4Q to almost EGP 12.5 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Consumer finance companies<\/strong> lent out some EGP 14.2 bn during the quarter \u2014 up just over 63% y-o-y \u2014 to 827k clients \u2014 up 8% y-o-y. Nearly 39% of the sums granted went towards vehicle purchases, while nearly 27% went towards purchases of appliances and electronics.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Funding for MSMEs: <\/strong>Financing granted to MSMEs jumped almost 42% y-o-y during the quarter to EGP 57.1 bn, with micro enterprises making up the majority of the funding (c. EGP 50.6 bn). The funds were distributed among 3.8 mn enterprises, down 3.4% y-o-y. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- The value of mortgage loans<\/strong> taken out during the quarter was up nearly 89% y-o-y to almost EGP 3.7 bn, with the number of beneficiaries increasing 29% y-o-y to 1.43k.<\/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\/consumer-finance\/\">consumer finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/factoring\/\">factoring<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/leasing\/\">leasing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mortgage-finance\/\">mortgage finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"617911\" 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=\"617911\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/31\/idh-saw-its-revenues-rise-14-in-2023\/\">\r\n                            IDH saw its revenues rise 14% in 2023                        <\/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\/31\/idh-saw-its-revenues-rise-14-in-2023\/\" 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\/31\/idh-saw-its-revenues-rise-14-in-2023\/')\">\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\/31\/idh-saw-its-revenues-rise-14-in-2023\/\">\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=IDH saw its revenues rise 14% in 2023&url=https:\/\/enterpriseam.com\/egypt\/2024\/03\/31\/idh-saw-its-revenues-rise-14-in-2023\/\">\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\/31\/idh-saw-its-revenues-rise-14-in-2023\/&title=IDH saw its revenues rise 14% in 2023\">\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=IDH+saw+its+revenues+rise+14%25+in+2023+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F03%2F31%2Fidh-saw-its-revenues-rise-14-in-2023%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\/31\/idh-saw-its-revenues-rise-14-in-2023\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2621.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"617912\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/31\/idh-saw-its-revenues-rise-14-in-2023\/2621-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2621.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2621.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2621.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2621.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-617911\" class=\"content-area-description single-story post-617911 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-enterpriseam tag-healthcare tag-integrated-diagnostics-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.0a7b139f-0363-4fcb-bbb1-2f2cbe9297a4.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IDH\u2019s revenues rise in 2023: <\/strong>Regional diagnostic services provider Integrated Diagnostics Holdings (IDH) saw its revenue rise 14% y-o-y in 2023 to EGP 4.1 bn, backed by higher test volumes, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2593.pdf\" style=\"\" rel=\"noopener\">earnings<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2593.pdf\" style=\"\" rel=\"noopener\">release<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2593.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. Net income, however, dropped 11% to EGP 468 mn as the company incurred larger expenses \u2014 such as higher costs of raw materials and equipment and salary increases \u2014 on the back of high inflation levels and a weaker EGP.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a quarterly basis:<\/strong> IDH\u2019s revenue grew 33% y-o-y in 4Q 2023 to EGP 1.1 bn, while its net income fell 34% y-o-y to record EGP 81 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt drove growth: <\/strong>Egypt remained IDH's largest market, contributing almost 83% of total revenues. Conventional revenues in Egypt climbed 40% y-o-y on the back of an 18% y-o-y increase in test volumes. Jordan came in second accounting for 14.7% of the company\u2019s revenues, followed by Nigeria, and Sudan. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IDH entered Saudi Arabia:<\/strong> The company has stepped into the Saudi market this year with two new branches in Riyadh.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cAs a business operating in this part of the world, we are no strangers to macroeconomic volatility. 2023 was no different, as our markets of operation were confronted with devaluation, record-high inflation, tightening monetary policies, and fluctuating energy prices. Despite all this, our two largest markets, Egypt and Jordan, remained resilient supported by attractive fundamentals which are set to drive their long-term growth over the coming decade,\u201d said CEO Hend El Sherbini.<\/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\/earnings-watch\/\">earnings watch<\/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\/integrated-diagnostics-holding\/\">Integrated Diagnostics 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=\"617913 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=\"617913\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/31\/617913\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-617913\" class=\"content-area-description single-story post-617913 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=\"617914\" 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=\"617914\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/31\/acuds-assets-have-tripled-in-value-post-float-plus-news-from-nbe-itida-al-ahly-momkn-ifc-capricorn-energy\/\">\r\n                            The Administrative Capital for Urban Development\u2019s assets have tripled in value post float                        <\/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\/31\/acuds-assets-have-tripled-in-value-post-float-plus-news-from-nbe-itida-al-ahly-momkn-ifc-capricorn-energy\/\" 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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ACUD <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1863d30d-e2c5-4721-8879-3f85b05ac31b\/a-ton-of-real-estate-news-from-acud,-talaat-moustafa,-heliopolis-housing\" style=\"\" rel=\"noopener\">plans to start construction<\/a> of the second phase early next year at a cost of EGP 240 bn. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where does the ACUD IPO stand? <\/strong>The company has completed its restructuring in preparation of going public on the EGX, Abbas said. The company is looking to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/621b0392-bb53-40e1-b530-5b8522acfbce\" style=\"\" rel=\"noopener\">raise at least EGP 150 bn<\/a> when it offers 5-10% of its shares on the EGX in 2Q 2024, in what could be the country\u2019s <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-15\/egypt-readies-what-may-be-its-biggest-ipo-as-new-capital-emerges?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">largest ever IPO<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ACUD has paid some EGP 17 bn in taxes to the government <\/strong>since it started operations 7 years ago, Abbas added. <\/p><p class=\"tag-border-left\">DEBT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IFC to support local MSMEs: <\/strong>The International Finance Corporation (IFC) will provide Banque du Caire (BdC) with a USD 100 mn package to increase support for Egypt\u2019s micro, small and medium-sized enterprises (MSMEs) and women-owned firms, the IFC said in a <a target=\"_blank\" href=\"https:\/\/disclosures.ifc.org\/project-detail\/SII\/47699\/bdc-loan\" style=\"\" rel=\"noopener\">disclosure<\/a>. The package consists of a 5-year senior loan of up to USD 50 mn and up to USD 50 mn uncommitted trade finance facility with tenors up to 12 months, it said. The package is still pending signature. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>BdC in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6b0fab52-223c-477c-a9b1-8d79029e2048\/ebrd-provides%253cmark%253e-banque-du-caire-%253c%2Fmark%253ewith-usd-50-mn-financing-package-for-msmes\" style=\"\" rel=\"noopener\">February<\/a> secured USD 50 mn from the European Bank for Reconstruction and Development to increase support for Egypt\u2019s MSMEs, with a focus on women-led MSMes.<\/p><p class=\"tag-border-left\">ENERGY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Gov\u2019t starts paying back Capricorn Energy:<\/strong> State-owned Egyptian General Petroleum Corporation (EGPC) has paid back some USD 30 mn in outstanding receivables to UK-based oil and gas firm Capricorn Energy last week, it said in its 2023 earnings <a target=\"_blank\" href=\"https:\/\/tools.eurolandir.com\/tools\/Pressreleases\/GetPressRelease\/?ID=4489347&amp;lang=en-GB&amp;companycode=uk-cne&amp;v=\" style=\"\" rel=\"noopener\">announcement<\/a>. EGPC\u2019s outstanding receivables to Capricorn rose to USD 169 mn as of the end of 2023, USD 143 mn of which are overdue. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Preparing for the worst: <\/strong>Capricorn, along with Egyptian partner Cheiron, are \u201cseeking waivers from lenders for several potential events of default under the facilities, all related to a lack of a payment plan from EGPC to resolve the receivables position.\u201d <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> This comes just a few days after the government announced it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe8be5ef-1808-4344-aa09-d303ff2fe7a2\/\" style=\"\" rel=\"noopener\">started paying back<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe8be5ef-1808-4344-aa09-d303ff2fe7a2\/\" style=\"\" rel=\"noopener\">nearly 20% of the arrears<\/a> it owes to international oil companies operating in the country, with a structured plan to clear the remaining debt in stages over the coming period.<\/p><p class=\"tag-border-left\">M&amp;A-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>NBE snaps up 24% of Hyde Park: <\/strong>The National Bank of Egypt (NBE) has acquired the Egyptian Arab Land Bank\u2019s entire 24% stake in property developer <a target=\"_blank\" href=\"https:\/\/www.hydeparkdevelopments.com\/\" style=\"\" rel=\"noopener\">Hyde Park Developments<\/a> for an undisclosed sum, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2587.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>.<\/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>Al Ahly Momkn stake sale is pending CBE approval:<\/strong> Shareholders of e-payments company <a target=\"_blank\" href=\"https:\/\/www.alahlymomkn.com\/\" style=\"\" rel=\"noopener\">Al Ahly Momkn<\/a> \u2014 a subsidiary of the National Bank of Egypt\u2019s investment arm Al Ahly Capital Holding \u2014 are currently awaiting the greenlight from the Central Bank of Egypt to sell 25% of the firm\u2019s shares to an unnamed local financial services player, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yv62z22e\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports, citing sources it says are familiar with the transaction. Al Ahly Momkn is currently valued at over EGP 1 bn, the sources said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> A group of private equity firms, including Tana Africa, Lorax Capital Partners, and US-based Ultra Capital, have been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0ff7305c-224e-4184-adc3-7e175314676e\" style=\"\" rel=\"noopener\">bidding<\/a> to acquire a 25% stake in Al Ahly Momkn, Al Mal reported in July.<\/p><p class=\"tag-border-left\">MANUFACTURING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Locally-made routers:<\/strong> The Information Technology Industry Development Agency (ITIDA) and Telecom Egypt will work with a number of private players to design and develop CPE-VDSL routers locally, as part of the government\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e7ff33f6-996f-40d3-9dc5-daf8dd6f06e9\/\" style=\"\" rel=\"noopener\">Egypt Makes Electronics<\/a> initiative, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2602.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The players? <\/strong>ITIDA and Telecom Egypt will be working with El Sewedy Electrometer, ElAraby Group, local electro-medical and electronic equipment manufacturer <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/biobusiness-eg\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">BioBusiness<\/a>, and \ufb01ber optic cabling solutions manufacturer <a target=\"_blank\" href=\"http:\/\/hiteknofaloptix.com\/\" style=\"\" rel=\"noopener\">HitekNOFAL OPTIX<\/a>.<\/p><p class=\"tag-border-left\">STARTUPS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Roboost wants to step foot in the Gulf:<\/strong> AI-powered logistics startup Roboost is looking to expand into the Saudi and Emirati markets during 2Q 2024, as it looks to expand its footstep across the region, co-founder and CEO Mohamed Gessraha reportedly told <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/mccnmzca\" style=\"\" rel=\"noopener\">Al Mal<\/a>. The Egypt-born startup <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d26150d7-a09e-4bbd-a6c5-d119ea11977b\/logistics-startup-roboost-closes-usd-3-mn-investment-round\" style=\"\" rel=\"noopener\">announced<\/a> in January that it had raised USD 3 mn in an investment round led by Jordan-based VC Silicon Badia and unveiled its plans to use the funds to to scale up its business \u201cacross the MENA region\u2019s entire delivery market.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Nawy to get its mortgage finance license in 1H: <\/strong>Proptech startup <a target=\"_blank\" href=\"https:\/\/www.nawy.com\/\" style=\"\" rel=\"noopener\">Nawy<\/a> is currently in talks with the Financial Regulatory Authority as it looks to get its mortgage finance license, co-founder Ahmed Rafea reportedly told <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yc7krx6z\" style=\"\" rel=\"noopener\">Al<\/a><a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yc7krx6z\" style=\"\" rel=\"noopener\">Mal<\/a>. Rafea expects the company to receive its license by the end of 1H 2024. <\/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\/acud\/\">ACUD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-ahly-momkn\/\">Al Ahly Momkn<\/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\/banque-du-caire\/\">Banque du Caire<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capricorn-energy\/\">Capricorn Energy<\/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\/international-finance-corporation\/\">International Finance Corporation<\/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\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-bank-of-egypt\/\">National Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-administrative-capital\/\">new administrative capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/roboost\/\">Roboost<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    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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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/31\/blockbuster-transactions-double-in-1q-as-mas-rebound\/\">\r\n                            Blockbuster transactions double in 1Q as M&amp;As rebound                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2641.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"617918\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/31\/blockbuster-transactions-double-in-1q-as-mas-rebound\/2641-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2641.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2641.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2641.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2641.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-617917\" class=\"content-area-description single-story post-617917 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-ma-watch tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.52e75367-ac06-411b-a922-9e1f7243e44f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The number of meg<\/strong><strong>a-acquisitions valued at USD 10 bn or above more than doubled <\/strong><strong>worldwide in the 1Q 2024<\/strong>, with 11 transactions totaling USD 215 bn taking place over the first three months of 2024, compared to five transactions worth a total of some USD 100 bn during the same period last year, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2cd43668-7d52-44a6-a8a0-58325736c727\" style=\"\" rel=\"noopener\">Financial<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2cd43668-7d52-44a6-a8a0-58325736c727\" style=\"\" rel=\"noopener\">Times<\/a> reports, citing data from the London Stock Exchange Group. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The growth was driven by large-scale transactions in the US in the energy, tech and financial sectors<\/strong>, reflecting companies\u2019 appetite for \u201ccapitalizing on the market conditions to accelerate growth,\u201d Citi\u2019s head of investment banking Tyler Dickson told FT.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This growth indicates that the market is on course to recover from its \u201clengthy drought\u201d<\/strong>, following a period of stagnancy in M&amp;A activity on the back of the Covid-19 pandemic and the ensuing market volatility, which led to the market shrinking to a decade-low.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While large-scale transactions are seeing an uptick, the total number of transactions globally fell 31% <\/strong>over the first three months of 2024. However, the overall value grew to USD 690 bn, marking a 30% y-o-y increase.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What spurred the rebound?<\/strong> M&amp;A activity surged as investors anticipate rate cuts from central banks, expected to come in June. The expected rate cuts have reduced financing costs, facilitating takeovers, in tandem with a resurgence in IPO activity. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By region:<\/strong> The US made up the lion\u2019s share of takeover activity, growing 59% y-o-y to USD 431.8 bn. The European market also jumped more than 60% y-o-y to USD 127 bn. Meanwhile, transactions in the Asia-Pacific region fell 28% y-o-y, amounting to USD 90 bn.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The market is expected to expand further:<\/strong> Bankers and M&amp;A firms foresee that the M&amp;A momentum will continue to grow throughout the year as companies pursue more takeovers, as fears of recession diminish and economic indicators suggest that the global economy is headed to a \u201csoft landing\u201d and that inflation is under control. \u201cBoards and management teams feel more comfortable about the future,\u201d <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/global-ma-picks-up-q1-after-flurry-large-deals-2024-03-28\/#:~:text=U.S.%20M%26A%20volumes%20surged%2059%25%20to%20%24431.8%20billion.\" style=\"\" rel=\"noopener\">Reuters<\/a> quotes co-head of global M&amp;A at Bank of America Ivan Farman as saying.<\/p><p><a target=\"_blank\" id=\"t.93ae84e7f5315984281cd917bd6423e5e924bc3e\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27,559<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.4% (YTD: +10.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 47.33<\/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 47.47<\/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 (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\">12,566<\/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: +5.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,228<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: -3.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,246<\/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: +4.6%)<\/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>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\">5,254<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +10.2%)<\/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>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\">7,953<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +2.8%)<\/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>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\">5,083<\/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: +12.4%)<\/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>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 87.00<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.9%<\/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>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 1.76<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.6%<\/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>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 2,238.40<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2%<\/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 69,659<\/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\">+0.33% (YTD: +64.9%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 2.4% at Thursday\u2019s close <\/strong>on turnover of EGP 2.7 bn (45.7% below the 90-dayaverage). Regional investors were net sellers. The index is up 10.7% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Palm Hill Developments (+2.4%), GB Corp (+1.0%), and Orascom Construction (+0.4%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Orascom Development Egypt (-6.5%), Fawry (-6.5%), and Delta Sugar (-6.3%). <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"617919\" 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\/31\/617919\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-617919\" class=\"content-area-description single-story post-617919 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;\">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>May 2024: Egypt to receive USD 20 bn of Ras El Hekma funds.<\/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>Another t-bill auction | LNG imports | Budget goes to House | Italian funds | Mega acquisitions | Presidency moving to new capital.<\/p>\n","protected":false},"featured_media":617897,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-617896","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"4549890e-eed9-481a-9b89-2b5659201a14","teaser":"Another t-bill auction | LNG imports | Budget goes to House | Italian funds | Mega acquisitions | Presidency moving to new capital.","photo_url":"https:\/\/ent.news\/2024\/3\/752.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>We are getting the first of the IMF funds this week after executive board approved expanded loan program - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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