{"id":618127,"date":"2024-04-03T00:00:00","date_gmt":"2024-04-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=618127"},"modified":"2025-12-17T04:58:31","modified_gmt":"2025-12-17T04:58:31","slug":"el-sisi-got-sworn-in-for-his-third-term-outlined-his-goals-for-the-coming-six-years","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-got-sworn-in-for-his-third-term-outlined-his-goals-for-the-coming-six-years\/","title":{"rendered":"El Sisi got sworn in for his third term, outlined his goals for the coming six years"},"content":{"rendered":"<section id=\"618129\" 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=\"618129\">\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\/04\/03\/president-el-sisi-is-sworn-in-for-a-third-term\/\">\r\n                            Egypt\u2019s El Sisi is sworn in for a third term                        <\/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\/04\/03\/president-el-sisi-is-sworn-in-for-a-third-term\/\" target=\"_blank\">\n    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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/03\/president-el-sisi-is-sworn-in-for-a-third-term\/268-jpg-87\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/268.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"268.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/268.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/268.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618129\" class=\"content-area-description single-story post-618129 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-abdel-fattah-el-sisi tag-enterpriseam tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.49f0f8fc-e5d2-457c-9ac0-9c928ace9e43.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends. <\/strong>It\u2019s an unusually quiet morning with the new cycle dominated by one story \u2014- President Abdel Fattah El Sisi\u2019s inauguration and policy program he outlined in his inauguration speech through the end of his term in 2030.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The big theme: We\u2019re in a \u201crace against time\u201d <\/strong>to move the needle on development, El Sisi said, promising that his administration would shore up revenues flowing into the treasury while rationalizing public spending. <strong>Becoming a regional hub for energy, trade, and transport <\/strong>centered around the Suez Canal is a key priority, he said, building on themes his administration developed in his most recent term. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s still no sign of a cabinet shuffle<\/strong>, but that could come any day now. Mostafa Bakry, the well-connected MP and journalist, <a target=\"_blank\" href=\"https:\/\/twitter.com\/BakryMP\/status\/1775116980682399853\" style=\"\" rel=\"noopener\">said on X last night<\/a> that cabinet will gather today for its weekly meeting. He expects the ministers to offer their resignation, allowing El Sisi to appoint a new government.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart: <\/strong>Freshly inaugurated presidents (returning or new in office) must under Article 146 of the Constitution appoint a prime minister to \u201cform the government and present his program to the House of Representatives.\u201d If the House doesn\u2019t give the government a majority vote of confidence within 30 days, the president appoints a PM based on a nomination from whoever holds a plurality of seats in the House. El Sisi could also use Article 147 to ask Prime Minister Moustafa Madbouly to continue to serve and ask him to engage in a more modest shuffle of ministers.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>QUESTION OF THE MORNING- When is Eid? <\/strong>Eid Al Fitr is likely to begin on Wednesday, 10 April and last through Friday, 12 April, the domestic press suggests, citing <a target=\"_blank\" href=\"https:\/\/www.youm7.com\/6532197\" style=\"\" rel=\"noopener\">forecasts<\/a>. Dar Al Ifta will hold its traditional crescent sighting next Monday to determine if the feast begins next Tuesday or Wednesday. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over in the GCC: <\/strong>Saudi has declared separate holidays for banks and capital markets (they\u2019re off all next week) and for the private sector (off Tuesday through Friday). In the UAE, the eid starts on Monday for the private sector and businesses are due to reopen their doors on 3 Shawwal, whatever day that winds up being on the Gregorian calendar. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It would be fantastic if officials could give us the same clarity <\/strong>to allow businesses to plan.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SIGN OF THE TIMES- In the latest sign that the float of the EGP is working, banks are <\/strong><strong>chewing their way through the backlog. <\/strong>\u201cWe processed thousands of transactions in the days immediately after Egypt adopted a flexible exchange rate,\u201d our friend HSBC Egypt CEO Todd Wilcox told us. <strong>That\u2019s the result of good FX availability \u201creflecting both healthy interbank trading activity and strong investor inflows,\u201d<\/strong> he said. \u201cHaving our dedicated Center of Excellence for Trade at the HSBC Cairo Global Service Center was a real advantage in ramping up processing volumes and speeds and ensuring that clients\u2019 cash management needs, supply chain, and risk-mitigation requirements were met as market conditions changed.\u201d<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><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\/215fe194-e5a0-4e7c-88d4-0d1cc73935d3\/\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">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><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\"><\/a><\/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 TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>Private sector health check incoming<\/strong><strong>: <\/strong>S&amp;P Global will publish Egypt\u2019s PMI figures for March shortly after we hit send this morning. All eyes will beon the gauge to see the effect of the float on the growth \u2014 or lack thereof \u2014 of the country\u2019s non-oil private sector and business confidence. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Could we finally buck the trend? <\/strong>After having been in contraction for 39 straight months and falling to an 11-month low <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e0a424e2-cd86-43f3-a631-37e1303ff364\/non-oil-private-sector-activity-falls-to-11-month-low-on-the-back-of-red-sea-disruptions,-high-inflation\" style=\"\" rel=\"noopener\">last month<\/a> on the back of Red Sea disruptions and high inflation, there is reasonable hope that the end of the FX shortage, death of the parallel market, and clearing of port backlogs \u2014 all stemming from the float of the EGP \u2014 may put the private sector on a new trajectory.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** <\/strong><strong>So, when do we eat?<\/strong> Maghrib prayers are at 6:15 pm in the capital city, and you\u2019ll have until 4:12 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\"><a id=\"wwtt5\"><\/a><strong>WEATHER- <\/strong>It\u2019s another warm day in Cairo, with a high of 30\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 <\/strong><strong>cooler <\/strong><strong>in Alexandria<\/strong>, with a high of 24\u00b0C and a low of 15\u00b0C.<\/p><p class=\"tag-border-left\">DATA POINT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>Tourist arrivals were up 4% y-o-y in 1Q <\/strong><strong>202<\/strong><strong>4 to 3.7 mn<\/strong>, but arrivals to Sharm El Sheikh were down 20% y-o-y in the same period, <a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1775086101499101254\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing an unnamed government official. Egypt initially wanted <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e1c547e5-b294-46e7-987c-6ecde018c876\/tourist-numbers-up-40%2525-in-7m-2023--issa.-plus:-egypt-hong-kong-investment-ties,-incorporation-goes-online\" style=\"\" rel=\"noopener\">to welcome 18 mn tourists this year<\/a> but that target is looking increasingly difficult due to the geopolitical tensions in the region, Tourism Minister Ahmed Issa <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/86f96448-6084-4663-b242-4f9f8e30b701\" style=\"\" rel=\"noopener\">said in February<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/79609299-4e73-451b-a04b-3ac6bb4ef8ab\" style=\"\" rel=\"noopener\">received a record<\/a> 14.9 mn tourists in 2023 \u2014 up 27% y-o-y and in line with the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6b948aec-8dcc-44e0-89b4-81dbe56c2bda\" style=\"\" rel=\"noopener\">state\u2019s target<\/a> to reel in 15 mn tourists during the year \u2014 despite the headwinds that the industry has been facing stemming from conflict in the region. <\/p><p class=\"tag-border-left\">WATCH THIS SPACE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>Visa launches new AI-powered risk management solutions<\/strong><strong>: <\/strong>Our friends at Visa have unveiled three new AI-powered risk and fraud prevention solutions as part of its end-to-end Visa Protect suite, Visa said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/273.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The solutions, which will roll out to clients later this year, include:<\/p><ul>\n<li><strong>Advanced authorization and risk manager for non-Visa card payments:<\/strong> Visa has extended the coverage of its fraud risk management tools to include non-Visa card transactions, allowing issuers to have a comprehensive fraud protection solution.<\/li>\n<li><strong>Provisioning intelligence: <\/strong>The tool boosts the security of the tokenization process by detecting the likelihood of token frauds in the provisioning requests.<\/li>\n<li><strong>Real-time, account-to-account payment protection: <\/strong>The product provides a real-time risk score for instant payment transactions, like digital wallets and account-to-account transfers.<\/li>\n<\/ul><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>The global business press is focused on the war in Gaza and tensions in Syria<\/strong>, with the two stories leading or getting prominent play everywhere from the Wall Street Journal to Reuters and Bloomberg. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Israel\u2019s military expressed \u201csincere sorrow\u201d that it had <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-airstrike-gaza-kills-foreign-aid-workers-hamas-run-media-office-says-2024-04-01\/\" style=\"\" rel=\"noopener\">killed seven aid workers<\/a>\u00a0<\/strong>from World Central Kitchen in an airstrike on Gaza, saying the strike was a mistake. The attack prompted the Biden administration to offer its toughest criticism yet of the Netanyahu government. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Iran is furious and has <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/israel-iran-conflict-threatens-to-spill-into-open-warfare-1bd60453?mod=hp_lead_pos2\" style=\"\" rel=\"noopener\">vowed to respond<\/a><\/strong><strong> after Israel killed top Iranian military <\/strong><strong>officials <\/strong>in an attack on Iran\u2019s embassy in Damascus despite diplomatic compounds having protected status under the Vienna Convention. Israel\u2019s defense minister was unapologetic, saying, \u201cWe are in a multifront war, offensively and defensively.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN BUSINESS- Tesla\u2019s shares plunged after quarterly deliveries fell for the first time since 2020<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/04\/02\/tesla-tsla-q1-2024-vehicle-delivery-and-production-numbers.html\" style=\"\" rel=\"noopener\">CNBC<\/a> reports.The 8.5% drop in deliveries was worse than analysts had penciled in, the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/autos\/teslas-first-quarter-vehicle-sales-fell-as-ev-market-cools-45bad95f?mod=hp_lead_pos3\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-02\/tesla-sales-miss-in-first-year-over-year-drop-since-pandemic?srnd=homepage-middle-east&amp;sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a> add. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FAR, FAR AFIELD- The moon is about to get its own timezone. <\/strong>\u201cThe White House on Tuesday directed NASA to establish a unified standard of time for the moon and other celestial bodies, as the United States aims to set international norms in space amid a growing lunar race among nations and private companies,\u201d <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/science\/white-house-directs-nasa-create-time-standard-moon-2024-04-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> writes in an exclusive.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">MARKET WATCH- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>Oil prices creep up close to October highs:<\/strong> Oil prices have been steadily climbing up since December, fueled by OPEC+\u2019s voluntary supply cuts, strong demand outlook for 2024, Red Sea tension, which has prompted cargo ships to take the longer and more oil-consuming routes to avoid the Gulf of Aden and Red Sea, writes <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-02\/oil-hits-85-for-first-time-since-october-as-market-tightens?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Brent is now trading at USD 88.9 a barrel: <\/strong>After falling from a year high of over USD 96 a barrel in late September, Brent crude fell to under USD 74 a barrel in mid-December and has since steadily recovered to trade at USD 88.92 a barrel as of the end of trading last night. Short term oil futures are also trading hands at a markup far above other futures with later dates, which means demand for the time being is considerable, according to Bloomberg. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2020\/01\/Web-view-01.jpg\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We take a look at BlackRock boss and markets sage Larry Fink\u2019s insights into how to tackle a growing demand for infrastructure investment amid mounting public debt through public-private partnerships.<\/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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"618131 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=\"618131\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/03\/618131\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618131\" class=\"content-area-description single-story post-618131 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><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=\"618132\" 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=\"618132\">\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\">Policy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/03\/el-sisi-gets-sworn-in-for-a-third-term-announces-goals-through-2030\/\">\r\n                            Egypt\u2019s El Sisi gets sworn in for third term, announces goals through 2030                        <\/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\/04\/03\/el-sisi-gets-sworn-in-for-a-third-term-announces-goals-through-2030\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> 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size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"618133\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/03\/el-sisi-gets-sworn-in-for-a-third-term-announces-goals-through-2030\/281-jpg-58\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/281.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"281.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/281.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/281.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618132\" class=\"content-area-description single-story post-618132 post type-post status-publish format-standard has-post-thumbnail hentry category-policy tag-abdel-fattah-el-sisi tag-economy tag-enterpriseam tag-policy 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\/4\/.d4d777b6-a157-4177-90ee-8d9732788ec1.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>El Sisi begins his third term with big promises: <\/strong>President Abdel Fattah El Sisi announced the key features and objectives for Egypt\u2019s national strategy on several domestic and external issues during a seven-point speech yesterday, after being sworn in for his third term at the House of Representatives in the new administrative capital.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>El Sisi secured his third term in office in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52af37f1-7aa4-4f93-a3d6-cf65ea23456d\/el-sisi-gets-a-third-term-%25e2%2580%2594-here%25e2%2580%2599s-what-to-watch-for-next-on-the-economy\" style=\"\" rel=\"noopener\">December with 89.6% of the vote<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>The presidency will begin its move to the new administrative capital, Administrative Capital for Urban Development CEO Khaled Abbas has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ed9e0ef8-8fc5-423d-a48d-a2fe0912e9c2\/el-sisi-begins-his-third-term-in-office-this-week\" style=\"\" rel=\"noopener\">previously said<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The tl;dr: <\/strong>The speech outlined the state\u2019s commitments to strengthen the country\u2019s foreign relations, national security, economic growth and productivity, fiscal discipline, education, and urban planning. The strategy also seeks to enact economic and social changes based on policy recommendations from the National Dialogue. You can read the full speech <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02Q2yMB1361HeFdk8RJZfhJtyPtCCmPrpNUuJL6M5GfDE3UUtH7iCHrxEpsPavb5vfl\" style=\"\" rel=\"noopener\">here<\/a> or watch the full ceremony here (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=a5YoJDs9_lc\" style=\"\" rel=\"noopener\">watch, runtime: 1:35:37<\/a>). <\/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- Economic growth:<\/strong> The president aims to adopt strategies that build a more resilient economy, increase private sector involvement, achieve sustainable economic growth, and prioritizing the agriculture, industry, CIT, and tourism sectors. He mentioned plans to attract more local and foreign investment while \u201cgiving priority to local manufacturing programs to increase exports and Egypt\u2019s foreign exchange earnings.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Where do things currently stand? <\/strong>The government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1bd53619-0a0c-4348-81f9-766539179c3c\/gov%25e2%2580%2599t-unveils-new-economic-and-social-development-targets-for-the-next-fiscal-year\" style=\"\" rel=\"noopener\">sees the economy growing at a 4.2%<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1bd53619-0a0c-4348-81f9-766539179c3c\/gov%25e2%2580%2599t-unveils-new-economic-and-social-development-targets-for-the-next-fiscal-year\" style=\"\" rel=\"noopener\">clip in fiscal year 2024-2025<\/a> as part of the government\u2019s economic and social development plan for the upcoming fiscal year. The Madbouly government sees the economy growing at a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/82b04b9f-4f92-4d51-a562-bd3cb27436bf\/\" style=\"\" rel=\"noopener\">3.5% clip<\/a> in the fiscal year ending June 2024. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c9d2065-c5ad-456f-adb1-867053c60a70\" style=\"\" rel=\"noopener\">S&amp;P<\/a> and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cbee3c58-b57c-4307-b4ea-3a5b987a7545\/\" style=\"\" rel=\"noopener\">World Bank<\/a> have penciled in the same figure, but the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21492e0c-4252-4e18-8696-f420040fffcd\/\" style=\"\" rel=\"noopener\">IMF<\/a> is less optimistic, having slashed Egypt\u2019s 2023-24 growth forecast to 3.0% in January. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The Sisi administration is looking to achieve annual growth of 6-8% by the end of El Sisi\u2019s third term, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/316.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a> from the Cabinet Information and Decision Support Center (IDSC).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Economic and fiscal reforms: <\/strong>Institutional reforms aimed at bettering the country\u2019s fiscal discipline were outlined, including \u201crationalizing public expenditure, enhancing public revenues, and moving towards more sustainable paths for public debt.\u201d The president also highlighted plans to increase activity in the Suez Canal and make Egypt a regional hub for \u201ctransportation and transit trade, new and renewable energy, and green hydrogen and its derivatives.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve already taken major steps in the way of reforms <\/strong>as part of our loan agreement with the IMF. Over the past month the Central Bank of Egypt floated the EGP and hiked rates by 600 bps, a move which helped boost FX liquidity in the banking system, clamp down on black market trade, and reignite investor confidence in the economy. The Madbouly government has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4286f10b-5618-426b-87de-d53d22d9591a\/we%25e2%2580%2599re-in-for-up-to-usd-9-bn-in-funding-from-the-world-bank,-eu\" style=\"\" rel=\"noopener\">also set an EGP 1 tn cap<\/a> on public investments for all state entities for the next fiscal year, as part of a wider plan to create space for the private sector and boost investments. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Foreign relations:<\/strong> Egypt will prioritize national security amid a \u201cturbulent regional and international milieu\u201d and will work on \u201cbalanced relations with all actors in a new world.\u201d A hallmark of El Sisi\u2019s time in office has been the implementation of a multipolar foreign policy emphasizing ties with a broader spectrum of major powers (the EU, China, and Russia alongside traditional allies like the United States) and comparatively more interest in Africa than past administrations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Public consultation: <\/strong>El Sisi aims to \u201ccomplete and deepen\u201d the National Dialogue and enact its recommendations for political, economic, and social reforms. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Improved education and healthcare:<\/strong> Bettering the country\u2019s quality of education and public health are on the agenda, as well as completing the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/135862af-85bd-4e86-9de6-2f54751c6307\" style=\"\" rel=\"noopener\">universal health ins. system<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- More social support: <\/strong>El Sisi unveiled plans to increase allocations for Takaful and Karama programs and to round off all phases of the Decent Life initiative.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#7- Urban development:<\/strong> The president said that he plans to finish constructing <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\">smart cities<\/a> \u2014 also referred to as fourth generation cities \u2014 as well as \u201cdeveloping major unplanned areas,\u201d and completing the Housing for All Egyptians initiative which targets low-income families. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That\u2019s not all: <\/strong>Ministries are gearing up for ambitious targets for El Sisi\u2019s third term. You can check out our deep dives into the targets and the plan to meet them for:<\/p>\n<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>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cabinet shuffle next? <\/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.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Sisi\u2019s inauguration received coverage from: <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egypts-sisi-sworn-third-term-2024-04-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/news\/mena\/2024\/04\/02\/el-sisis-third-term-marks-a-changed-egypt-after-10-years-of-his-rule\/\" style=\"\" rel=\"noopener\">The National<\/a> | <a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/live-news\/20240402-egyptian-president-sisi-sworn-in-for-third-term\" style=\"\" rel=\"noopener\">France24<\/a> | <a target=\"_blank\" href=\"https:\/\/www.al-monitor.com\/originals\/2024\/04\/egypts-leader-sisi-ex-general-liking-mega-projects\" style=\"\" rel=\"noopener\">AFP<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/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\/policy\/\">policy<\/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=\"618134\" 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=\"618134\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/03\/elsewedy-to-break-ground-on-its-new-october-industrial-park-within-weeks-ramp-up-gulf-expansions\/\">\r\n                            Elsewedy to break ground on its new industrial park in New October within weeks, Gulf expansions are on the table                        <\/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\/04\/03\/elsewedy-to-break-ground-on-its-new-october-industrial-park-within-weeks-ramp-up-gulf-expansions\/\" target=\"_blank\">\n                    Open in new tab                    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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=Elsewedy+to+break+ground+on+its+New+October+industrial+park+within+weeks+%2B+ramp+up+Gulf+expansions+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F04%2F03%2Felsewedy-to-break-ground-on-its-new-october-industrial-park-within-weeks-ramp-up-gulf-expansions%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\/04\/03\/elsewedy-to-break-ground-on-its-new-october-industrial-park-within-weeks-ramp-up-gulf-expansions\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/267.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"618135\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/03\/elsewedy-to-break-ground-on-its-new-october-industrial-park-within-weeks-ramp-up-gulf-expansions\/267-jpg-59\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/267.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"267.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/267.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/267.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618134\" class=\"content-area-description single-story post-618134 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-elsewedy-electric tag-enterpriseam tag-infrastructure tag-latin-america tag-manufacturing tag-qatar tag-saudi-arabia 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\/4\/.c5b4621d-83a7-49e4-a94e-cd949163345d.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Els<\/strong><strong>ewedy<\/strong><strong> inches closer to building its industrial park in New October:&nbsp;<\/strong>Elsewedy Industrial Development is expected to break ground on its industrial zone \u2014 dubbed Industria October \u2014 in New 6 October City upon receiving a 2.5 mn-sqm plot from the New Urban Communities Authority within two to three weeks, Elsewedy Electric CEO Ahmed El Sewedy said during an event attended by Enterprise. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The company said in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/69e5b6a4-8f74-49e1-9b9f-082047c9d771\" style=\"\" rel=\"noopener\">January<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/69e5b6a4-8f74-49e1-9b9f-082047c9d771\" style=\"\" rel=\"noopener\">2023<\/a> it was in talks with the government to build a 5-mn-sqm industrial zone in a bid to attract EGP 20 bn-worth of investments, create 150k jobs, and add EGP 5 bn to the country\u2019s annual GDP once complete. The zone will be located near the 6 October dry port and linked by railway to Alexandria port. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expansion overseas:<\/strong> The company is looking to expand its footprint across the Gulf, namely in Saudi Arabia and Qatar, where there is high demand for infrastructure projects, El Sewedy said. Elsewedy Electric plans to wrap up its expansion of its Saudi factory by late 2024. The company also wants to step into Latin America this year, with a focus on infrastructure, electricity, renewable energy, and gas sectors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the local front:<\/strong> Elsewedy Electric plans to set up more factories in Egypt, especially cables and power transformers facilities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Disruptions due to Red Sea attacks <\/strong>are constraining the company\u2019s cable and power transformers imports, affecting shipping costs and delaying delivery dates, El Sewedy said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Tanzanian dam will be inaugurated this month: <\/strong>El Sewedy said that Tanzanian and Egyptian officials will inaugurate Tanzania's Julius Nyerere Dam \u2014 a joint project between El Sewedy Electric and the Arab Contractors \u2014 on 21 April.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elsewedy-electric\/\">Elsewedy Electric<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/latin-america\/\">Latin America<\/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\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"618136 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=\"618136\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/03\/618136\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618136\" class=\"content-area-description single-story post-618136 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\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=\"618137\" 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=\"618137\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/03\/foreign-pages-cover-el-sisis-inauguration-british-rail-contract\/\">\r\n                            Foreign pages cover El Sisi\u2019s inauguration + British rail contract                        <\/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 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/03\/foreign-pages-cover-el-sisis-inauguration-british-rail-contract\/&title=Foreign pages cover El Sisi\u2019s inauguration + British rail contract\">\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=Foreign+pages+cover+El+Sisi%E2%80%99s+inauguration+%2B+British+rail+contract+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F04%2F03%2Fforeign-pages-cover-el-sisis-inauguration-british-rail-contract%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\/04\/03\/foreign-pages-cover-el-sisis-inauguration-british-rail-contract\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/296.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"618138\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/03\/foreign-pages-cover-el-sisis-inauguration-british-rail-contract\/296-jpg-72\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/296.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"296.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/296.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/296.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618137\" class=\"content-area-description single-story post-618137 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-enterpriseam 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\/4\/.4af38f21-d96b-48f4-831d-63f43e0342fc.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Two stories are driving the conversation on Egypt in the foreign press this <\/strong><strong>morning: <\/strong>President Abdel Fattah El Sisi\u2019s inauguration (which we cover in the news well, above) and British Steel inking a contract to supply us with rail. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>AND- British rail: <\/strong>The British steel products producer <strong><a target=\"_blank\" href=\"https:\/\/britishsteel.co.uk\/\" style=\"\" rel=\"noopener\">British Steel<\/a><\/strong> will supply rail for Egypt\u2019s <a target=\"_blank\" href=\"http:\/\/www.nat.gov.eg\/LocationActivity.aspx?id=2082\" style=\"\" rel=\"noopener\">Green<\/a><a target=\"_blank\" href=\"http:\/\/www.nat.gov.eg\/LocationActivity.aspx?id=2082\" style=\"\" rel=\"noopener\">Line<\/a>, under a multi-mn EGP contract, the company <a target=\"_blank\" href=\"https:\/\/britishsteel.co.uk\/news\/british-steel-wins-major-rail-contract-for-egypt-s-green-line\/\" style=\"\" rel=\"noopener\">said<\/a>. The rail shipments will reach the Port of Alexandria this month and in June and will be used to extend the line from Alexandria through Alamein to the Mediterranean coast and to the Gulf of Suez and the Red Sea. The news received coverage from <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/uk-england-humber-68715884\" style=\"\" rel=\"noopener\">BBC<\/a>, <a target=\"_blank\" href=\"https:\/\/www.independent.co.uk\/news\/uk\/british-steel-scunthorpe-north-africa-british-red-sea-b2522070.html\" style=\"\" rel=\"noopener\">The Independent<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/business\/2024\/apr\/02\/british-steel-wins-multimillion-pound-contract-for-egyptian-rail-project\" style=\"\" rel=\"noopener\">The<\/a><a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/business\/2024\/apr\/02\/british-steel-wins-multimillion-pound-contract-for-egyptian-rail-project\" style=\"\" rel=\"noopener\">Guardian<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know about the project: <\/strong>The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/13c77944-a194-421e-b52d-c3ab09523df6\" style=\"\" rel=\"noopener\">2k-km high-speed rail line<\/a> links Cairo, Aswan, the North Coast and the Red Sea. The Sokhna-Matrouh connection will feature a passenger line able to carry more than 30 mn people a year as well as a freight line. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"618139\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"618140\" 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=\"618140\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/03\/el-sisi-ratifies-unified-budget-act-amendments-plus-news-from-masria-digital-payments-cequens-el-nasr-mining\/\">\r\n                            Egypt\u2019s El Sisi ratifies Unified Budget Act amendments                        <\/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\/04\/03\/el-sisi-ratifies-unified-budget-act-amendments-plus-news-from-masria-digital-payments-cequens-el-nasr-mining\/\" 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\/04\/03\/el-sisi-ratifies-unified-budget-act-amendments-plus-news-from-masria-digital-payments-cequens-el-nasr-mining\/')\">\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\/04\/03\/el-sisi-ratifies-unified-budget-act-amendments-plus-news-from-masria-digital-payments-cequens-el-nasr-mining\/\">\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=El Sisi ratifies Unified Budget Act amendments. 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The amendments, greenlit by MPs <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9a6f7a91-ddbb-4df1-9ae3-20304770b1ff\/tanmeyah,-msmeda-to-lend-out-up-to-egp-200-mn-to-microenterprises.-plus:-news-from-smokery,-house,-acdima\" style=\"\" rel=\"noopener\">last month<\/a>, will see the budgets of all 59 of the state\u2019s economic bodies and the state budget presented in a new consolidated budget \u2014 dubbed the Public Government Budget. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Read more:<\/strong> Finance Minister Mohamed Maait earlier this year unveiled the ins and outs of the amendments \u2014 read our coverage <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/146b3145-ac54-4832-be15-9e2799b474bc\" style=\"\" rel=\"noopener\">here<\/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\">INVESTMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Misr Aluminum has a foil production line in the pipeline:<\/strong> EGX-listed Egypt Aluminium (EgyptAlum) wants to launch a USD 100 mn foil production line with an annual production capacity 50k tons, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/04\/02\/1780600\" style=\"\" rel=\"noopener\">Al Borsa<\/a> quotes the firm\u2019s managing director Mahmoud Agour as saying. The company is currently working on the final studies for the project and is in negotiations with investors from Europe, Russia, and the US to participate in the project, Agour said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A silk production line could follow: <\/strong>The company is also looking into setting up a USD 15 mn aluminum silk production line by 2025. <\/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\">MINING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A new Indian-Egyptian JV arrives on the local mining scene:<\/strong> State-owned El Nasr Mining Company, an unnamed Indian company, and an unnamed local private company have set up a miningcompany for phosphate \u2014 one of the key components used to make chemical fertilizers \u2014 with combined investments of USD 400 mn, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/468rn6zy\" style=\"\" rel=\"noopener\">Al<\/a><a target=\"_blank\" href=\"https:\/\/tinyurl.com\/468rn6zy\" style=\"\" rel=\"noopener\">Mal<\/a> quotes Public Enterprise Minister Mahmoud Esmat as saying at a press conference on Monday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who owns what:<\/strong> The private company holds a 40% stake in the joint venture, while El Nasr owns 24%. The Indian company owns the remaining 36%.<\/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\">M&A-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PE firms fight it out for stake in Masria Digital Payments:<\/strong> Private equity firm <a target=\"_blank\" href=\"https:\/\/spe-capital.com\/\" style=\"\" rel=\"noopener\">SPE<\/a><a target=\"_blank\" href=\"https:\/\/spe-capital.com\/\" style=\"\" rel=\"noopener\">Capital<\/a> and the UK\u2019s <a target=\"_blank\" href=\"https:\/\/apis.pe\/our-story\/\" style=\"\" rel=\"noopener\">Apis Partners<\/a> are reportedly competing for a stake in local e-payments firm <a target=\"_blank\" href=\"https:\/\/www.mdp-eg.com\/\" style=\"\" rel=\"noopener\">Masria Digital Payments<\/a> currently owned by private equity firm AfricInvest, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%b5%d9%86%d8%af%d9%88%d9%82%d8%a7-%d8%a3%d8%a8%d9%8a%d8%b3-%d9%88spe-%d9%8a%d8%aa%d9%86%d8%a7%d9%81%d8%b3%d8%a7%d9%86-%d9%84%d9%84%d8%a7%d8%b3%d8%aa%d8%ad%d9%88%d8%a7\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports, citing sources it says have knowledge of the matter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So, how much are we talking? <\/strong>Al Mal\u2019s sources did not specify whether the interested parties were after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a4f50942-8650-4362-8aad-11549d6647ab\/regional-pe-firm-africinvest-acquires-40%2525-in-masria-cards\" style=\"\" rel=\"noopener\">AfricInvest\u2019s entire 40% stake<\/a> \u2014 that it acquired in 2020 \u2014 or a part of it.<\/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\">TELECOMS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cequens to expand its reach into Kuwait: <\/strong>Homegrown communications provider <a target=\"_blank\" href=\"https:\/\/www.cequens.com\/\" style=\"\" rel=\"noopener\">Cequens<\/a> has partnered with Kuwait Telecommunications Company, a subsidiary of the Public Investment Fund\u2019s majority owned Saudi Telecom Company Group, to offer its communication solutions to business and individuals in Kuwait, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/233.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** We sat down with Cequens co-founder and CEO Karim Khorshed last year<\/strong> to find out more about the company and what business advice he has to offer. Check out the story <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f2a42012-68f7-49a4-8ff5-980ba17452fd\/my-morning-routine:-karim-khorshed,-co-founder-and-ceo,-cequens\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/apis-partners\/\">Apis Partners<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-aluminum\/\">Egypt Aluminum<\/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\/masria-digital-payments\/\">Masria Digital Payments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mining\/\">mining<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/private-equity\/\">private equity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column 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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"618143\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/03\/are-the-magnificent-seven-now-the-fab-four\/\">\r\n                            The S&amp;P 500 now has a Fab Four                        <\/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\" 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class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/03\/are-the-magnificent-seven-now-the-fab-four\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/188.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"618144\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/03\/are-the-magnificent-seven-now-the-fab-four\/188-jpg-74\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/188.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"188.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/188.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/188.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618143\" class=\"content-area-description single-story post-618143 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-capital-markets tag-enterpriseam tag-financial-markets tag-planet-finance tag-venture-capital 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\/4\/.98042b18-6ac4-4da8-bb9d-d43809c86d7c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Are the Magnificent Seven now the Fab Four? <\/strong>Apple, Tesla, and Alphabet shares have all sputtered in the first three months of the year, but the S&amp;P 500 still turned in its best Q1 since before covid-19 became a household word. <strong>Nvidia, Meta, Microsoft, and Amazon <\/strong>have left the other three behind, with some analysts now dubbing them the Fab Four as their share prices keep appreciating, the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/stocks\/the-stock-markets-magnificent-seven-is-now-the-fab-four-2dff87ac\" style=\"\" rel=\"noopener\">Wall<\/a><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/stocks\/the-stock-markets-magnificent-seven-is-now-the-fab-four-2dff87ac\" style=\"\" rel=\"noopener\">Street<\/a><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/stocks\/the-stock-markets-magnificent-seven-is-now-the-fab-four-2dff87ac\" style=\"\" rel=\"noopener\">Journal<\/a> notes. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SIGN OF THE TIMES #1- <\/strong>Everyone from <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-01\/citadel-s-ken-griffin-sees-modest-growth-warns-on-us-debt\" style=\"\" rel=\"noopener\">Citadel\u2019s Ken Griffin<\/a> to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-01\/us-government-debt-risk-a-million-simulations-show-danger-ahead\" style=\"\" rel=\"noopener\">Bloomberg Economics<\/a> is raising flags that <strong>US borrowing is \u201con an unsustainable path.\u201d<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SIGN OF THE TIMES #2- Donald Trump\u2019s media company <\/strong><strong>has <\/strong><strong>l<\/strong><strong>ost 8% o<\/strong><strong>f its value since Monday <\/strong>as \u201cthe fervor around the company\u2019s debut on public markets last week appeared to subside.\u201d The <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/04\/01\/business\/trump-media-stock.html\" style=\"\" rel=\"noopener\">New York Times<\/a> goes deeper into why the valuation still \u2014 like much of US politics right now \u2014 just doesn\u2019t make sense.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(Speaking of Trump: He <a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2024\/04\/01\/trump-legal-cases-bond-00150071\" style=\"\" rel=\"noopener\">posted a USD 175 mn bond<\/a> on Monday in a civil case, narrowly avoiding the seizure of some of his assets.)<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- The bloom is still off the rose for venture capital<\/strong>, where institutional investor interest peaked in 2021, about a year before the US Federal Reserve took the wind out of the asset class\u2019 sails with the first of a series of interest rate hikes. <strong>The lastest sign: <\/strong>New York\u2019s <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/4e2cb89e-c562-4dea-8ef9-c5266d1e992d\" style=\"\" rel=\"noopener\">Tiger Global raised just USD 2.2 bn for its sixteenth fund<\/a>. It had aimed to raise USD 6 bn when it started lining up commitments from limited partners in late 2022. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Carmakers and industry analysts are worrying that the global slowdown in demand <\/strong><strong>for electric vehicles could be more than a blip. <\/strong>\u201cIf prices do not fall, or legitimate [consumer] concerns over charging infrastructure are not met, motorists may resist indefinitely. The implications of the second are potentially concerning. Meeting long-term decarbonisation targets without removing all petrol and diesel cars from the roads is impossible,\u201d notes the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/49886479-7312-43f5-a190-94d7586738f7\" style=\"\" rel=\"noopener\">Financial Times<\/a> \u2019 Peter Campbell in an Insider Business column. <strong>Will politicians look to use other levers to stimulate demand<\/strong>, from higher fuel prices to sharp taxes on petrol-powered cars?<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- Tesla has taken back the title as the world\u2019s top EV producer <\/strong>after the Chinese EV market leader BYD reported a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/byd-may-hand-back-top-ev-seller-title-tesla-after-q1-sales-decline-2024-04-02\/\" style=\"\" rel=\"noopener\">43%<\/a> drop in sales to 300k EVs in the first quarter of the year.<\/p><p class=\"tag-border-left\">THE MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are solidly in the red this morning<\/strong>, with <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/04\/03\/asia-markets-live-updates-ev-makers-federal-reserve-china-data.html\" style=\"\" rel=\"noopener\">CNBC<\/a> blaming poor sentiment on electric vehicles after Tesla said yesterday it had missed delivery targets. The decline in deliveries was worse than analysts had expected. Three listed Chinese automakers, including market leader BYD, led the decliners. <strong>The sea of red extends to Europe and on Wall Street<\/strong>, where stock futures edged down overnight.<\/p><p><a target=\"_blank\" id=\"t.e64f38c56aeae2d3dd89a782b0f930613862d1c1\" 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\">27,934<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3% (YTD: +12.2%)<\/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>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 47.10<\/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 47.23<\/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>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 47.11<\/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 47.21<\/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-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,477<\/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: +4.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,253<\/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: -3.4%)<\/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>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\">4,269<\/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: +5.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,206<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +9.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">7,935<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +2.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,042<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: +11.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 88.92<\/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\">+1.7%<\/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>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 1.86<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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 2,281<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 65,651<\/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\">-5.7% (YTD: +55.1%)<\/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 1.3% at yesterday\u2019s close<\/strong> on turnover of EGP 3.1 bn (38.1% below the 90-day average). Foreign investors were net buyers. The index is up 12.2% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Sidi Kerir Petrochemicals (+3.8%), AMOC (+2.8%), and Alexandria Containers and Cargo Handling (+2.8%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>GB Corp (-6.4%), Orascom Development Egypt (-4.8%), and E-finance (-4.5%).<\/p><p class=\"tag-border-left\">CORPORATE ACTIONS- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Rakta winds up:<font face=\"Arial\">\u00a0<\/font><\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/494d8930-d04f-4c4b-a747-eb30b0ee5de8\/idg-led-consortium-to-sign-mou-to-develop-beni-suef-dry-port.-plus:-jumia-%2B-aman,-valu-%2B-ebi,-ratka-%2B-al-ahly-pharos,-kima-%2B-tecnimont\" style=\"\" rel=\"noopener\">Struggling<\/a> state-owned paper manufacturer General Company for Paper Industry\u2019s (Rakta) extraordinary general assembly approved insolvency proceedings for the company and moved forward with assessing and liquidating the company\u2019s assets, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/248.pdf\" style=\"\" rel=\"noopener\">bourse disclosure (pdf)<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- EgyTrans dividend payout delayed: <\/strong>EgyTrans\u2019 ordinary general assembly has decided to push paying out dividends on its 2023 earnings to shareholders to 2Q 2024, the transport and logistics company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/249.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"618145\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">7<\/div>\r\n    \r\n                        <p class=\"f-graphik\">HARDHAT<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/larry-fink-on-why-the-future-of-energy-infrastructure-will-be-achieved-through-public-private-partnerships\/\"> \r\n                            Larry Fink on why the future of energy infrastructure will be achieved through public-private partnerships<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/larry-fink-on-why-the-future-of-energy-infrastructure-will-be-achieved-through-public-private-partnerships\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" 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<\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-618145\" class=\"content-area-description post-618145 hardhat type-hardhat status-publish has-post-thumbnail hentry category-hardhat tag-blackrock tag-enterprise-hardhat tag-enterpriseam tag-green-energy tag-hardhat tag-infrastructure wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Private players have a crucial role to play in building up global energy infrastructure:<\/strong> In his <a target=\"_blank\" href=\"https:\/\/www.blackrock.com\/corporate\/investor-relations\/larry-fink-annual-chairmans-letter\" style=\"\" rel=\"noopener\">annual letter to<\/a><a target=\"_blank\" href=\"https:\/\/www.blackrock.com\/corporate\/investor-relations\/larry-fink-annual-chairmans-letter\" style=\"\" rel=\"noopener\">shareholders<\/a> last week, BlackRock boss and markets sage Larry Fink made the case that private investment into infrastructure, and especially energy infrastructure, is becoming increasingly important \u2014 if not essential \u2014 as governments around the world try to balance growing public debt while still investing in infrastructure. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Globally, the demand for infrastructure is growing:<\/strong> \u201cAs countries decarbonize and digitize their economies, they\u2019re supercharging demand for all sorts of infrastructure, from telecom networks to new ways to generate power,\u201d the BlackRock boss writes. Fink explained how this is also driven by people in poorer countries getting richer and \u201cboosting demand for everything from energy to transportation\u201d and governments in richer countries needing to embark on new infrastructure projects and repair aging infrastructure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And one sector in particular sticks out, according to Fink: <\/strong>Within the USD 1 tn infrastructure sector, BlackRock\u2019s opinion is that \u201cthe greatest demand for new investment is energy infrastructure.\u201d Fink adds that in his nearly 50 years in finance, he has \u201cnever seen more demand for energy infrastructure.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is being driven by a global transition to green energy: <\/strong>The green transition is a \u201cmajor economic trend being driven by nations representing 90% of the world\u2019s GDP,\u201d Fink points out. Wind and solar power are now cheaper than their fossil fuel counterparts in some countries, leading to a swell of investment in green energy infrastructure, and with this comes a shake up of the markets, with new risks and potentials for investors, Fink argues.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But, a growing concern for energy security is pushing countries to be \u201cenergy<\/strong><strong> pragmatists\u201d: <\/strong>Russia\u2019s invasion of the Ukraine in 2022 caused an upheaval in the global supply of oil and gas that led to soaring energy bills that end consumers and subsidizing states struggled to pay for. Fink describes a new approach that he is increasingly hearing from policymakers \u2014 that he dubs energy pragmatism \u2014 as states invest in both renewables and more traditional hydrocarbons as countries \u201ctransition to lower-carbon sources of power while also achieving energy security.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egyptian policymakers seem to be of the same opinion: <\/strong>Although Egypt is planning to up its renewables mix from 10% currently, to 42% <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/06e7e381-df4d-4d89-94c7-428dba34d5a3\" style=\"\" rel=\"noopener\">by 2030<\/a> and 60% <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/04dda22d-b376-4d76-bf9a-50f917a5ac39\" style=\"\" rel=\"noopener\">by 2040<\/a>, and has plenty of green energy projects in the works to help realize this, fresh investments in oil and gas are also part of the plan. The state is planning to double oil and gas exports to USD 36 bn by 2030 and has been working towards this by awarding new <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7c658a60-4abf-4d51-b892-6fe50e35cc6f\/gov%25e2%2580%2599t-awards-11-concessions-for-gas-exploration-in-the-western-mediterranean.-plus:-shelf-drilling,-sabbour-consulting,-sky-developments\" style=\"\" rel=\"noopener\">concessions<\/a> to oil and gas companies and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0d8c3d2-6639-4dae-b08d-7d2ab5afab41\/a-round-up-of-the-egypt-energy-show-so-far\" style=\"\" rel=\"noopener\">courting<\/a> foreign investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>States have an appetite for energy investments, but not the financial means to pay for it:<font face=\"Arial\">&nbsp;<\/font><\/strong>Fink points out that \u201cpublic debt has tripled since the mid-1970s\u201d and reached 92% of global GDP in 2022. With countries \u2014 even rich and powerful ones like the US \u2014 facing growing and potentially dangerous debt burdens, many can no longer afford to fund infrastructure projects entirely through public debt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But, Fink thinks he has a solution: <\/strong>Fink sees infrastructure projects in the future being built with both private and public funds from companies and government bodies in public-private partnerships because for the government to foot the bill alone, \u201cthe debt is just too high.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We should also look to capital markets<\/strong>, which \u201ccan help countries meet their energy goals, including decarbonization, in an affordable way,\u201d Fink argues.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Private investment can also help support a more equitable green transition<\/strong><b>:<\/b><strong> <\/strong>On the consumer and state level, choosing to live a greener life can be expensive and this is not a luxury everyone can afford to take. Whether it's the decision on a consumer level to buy an EV or on a government level to ditch coal-powered stations for greener alternatives, \u201cprivate investment can help energy companies reduce the cost of their innovations and scale them around the world,\u201d Fink argues.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Our industrial zones are a big hit with foreign investors:<\/strong> Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a760dc2b-4840-4b9e-827c-b6cff5009778\" style=\"\" rel=\"noopener\">signed three<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a760dc2b-4840-4b9e-827c-b6cff5009778\" style=\"\" rel=\"noopener\">separate industrial investment agreements<\/a> with companies from China, Poland, and France collectively worth USD 353 mn for projects to be implemented in the country\u2019s industrial zones.<\/li>\n<li><strong>Ades Holding to up its oil output in Egypt<\/strong><b>:<\/b> Oil and gas drilling company Ades Holding will work to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2262f51d-d07d-4b1a-906b-5151cd8ae54a\" style=\"\" rel=\"noopener\">boost oil production<\/a> at two brownfields in Egypt after landing a ten-year service agreement.<\/li>\n<li><strong>Orascom Industrial Parks to develop EGP 13 bn industrial complex:<\/strong> Orascom Construction subsidiary Orascom Industrial Parks <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce89f5d7-083f-4cb7-9cbc-8fe5c1249f18\/sczone-greenlights-new-industrial-projects\" style=\"\" rel=\"noopener\">received approval from the SCZone\u2019s<\/a> general authority to develop and manage a EGP 13 bn integrated industrial complex in the Sokhna Industrial Zone.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/blackrock\/\">BlackRock<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-energy\/\">green energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hardhat\/\">Hardhat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"618147\" 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\/04\/03\/618147\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618147\" class=\"content-area-description single-story post-618147 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 style=\"font-weight:400;\">10 April (Wednesday): 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 style=\"font-weight:400;\">29 June (Saturday): EU-Egypt Investment Conference.<\/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;\">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;\">April 2024: President Abdel Fattah El Sisi will visit Turkey.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2024: Egyptian-Qatari Joint Supreme Committee.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2024: Opening of the newly developed Pyramids Plateau in Giza.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2024: The government is set to finalize the sale of the Gabal El Zeit wind farm.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">February-May: The Grand Egyptian Museum could officially open to visitors.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">March 2024: The USD 2.7 bn MIDOR Refinery is set to begin full operations. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">May 2024: 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;\">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\n\t<\/div><!-- 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