{"id":618617,"date":"2024-04-17T00:00:00","date_gmt":"2024-04-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=618617"},"modified":"2025-12-17T05:10:35","modified_gmt":"2025-12-17T05:10:35","slug":"imf-holds-its-growth-forecast-steady-at-3-0-for-egypt-for-the-current-fiscal-year","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-holds-its-growth-forecast-steady-at-3-0-for-egypt-for-the-current-fiscal-year\/","title":{"rendered":"IMF holds its growth forecast steady at 3.0% for Egypt for the current fiscal year"},"content":{"rendered":"<section id=\"618619\" 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=\"618619\">\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\/17\/its-day-three-of-the-imf-and-world-banks-spring-meetup\/\">\r\n                            It\u2019s day three of the IMF and World Bank\u2019s spring meetup                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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                 <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1149.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"618620\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/its-day-three-of-the-imf-and-world-banks-spring-meetup\/1149-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1149.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1149.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1149.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1149.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618619\" class=\"content-area-description single-story post-618619 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-imf tag-what-were-tracking-today tag-world-bank 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\/.ac2b6236-8574-411d-a1c4-401666a8896b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, folks. <\/strong>It\u2019s all about the IMF in today\u2019s issue, with the Fund\u2019s latest report giving its latest growth forecasts for Egypt, the region, and the wider world. And if that wasn\u2019t enough IMF news for you, a whole host of senior Egyptian ministers are in Washington this week for the the IMF and World Bank\u2019s spring meetings. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve got this and so much more<\/strong> in the issue this morning. So, let's jump right in.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover Saudi Arabia and the UAE?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">** <strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge. <\/p><p class=\"tag-border-left\">PSA-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>WEATHER-<\/strong>It\u2019s a hot, summer, and dusty day in Cairo today, with a high of 36\u00b0C and a low of 22\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 much the same in Alexandria<\/strong>, with a high of 36\u00b0C and a low of 18\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While over in the UAE, <\/strong><strong>it didn\u2019t rain lizards and frogs yesterday, but <\/strong><strong><a target=\"_blank\" href=\"https:\/\/twitter.com\/Iam_njd\/status\/1780270396756959532\" style=\"\" rel=\"noopener\">flying patio<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/twitter.com\/Iam_njd\/status\/1780270396756959532\" style=\"\" rel=\"noopener\">furniture was a thing<\/a><\/strong> as torrential rain led to power outages, flooding, and property damage in Dubai. Water coursed through the <a target=\"_blank\" href=\"https:\/\/twitter.com\/chatwithcharles\/status\/1780221269721391502\" style=\"\" rel=\"noopener\">Mall of the Emirates<\/a> and a <a target=\"_blank\" href=\"https:\/\/twitter.com\/chatwithcharles\/status\/1780221273672413610\" style=\"\" rel=\"noopener\">conference in festival city<\/a>. Runways at Dubai International Airport were also flooded, prompting a 25-minute shutdown and the cancellation of dozens of flights. And cars did their best submarine imitation on major roadways.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context: <\/strong>It was the <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/uae\/uae-witnesses-record-breaking-rains-highest-in-75-years\" style=\"\" rel=\"noopener\">most single-day rainfall<\/a> the UAE has seen in 75 years.<\/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>It\u2019s day three of the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/meetings.imf.org\/en\/2024\/Spring\" style=\"\" rel=\"noopener\">IMF and World Bank spring meetings<\/a><\/strong> and a number of our ministers are in Washington to take part in the meetings and make the rounds. Check out the full schedule for the gathering \u2014 which kicked off in Washington on Monday and runs through 20 April \u2014 <a target=\"_blank\" href=\"https:\/\/www.imfconnect.org\/content\/imf\/en\/annual-meetings\/calendar.html\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- El Said to take the stage: <\/strong>Planning Minister Hala El Said will <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MPEDEGYPT\/posts\/pfbid02cTSPvzu1jKoUiKidzehztFJZJyB8AheQwnHCBMU3WbdQtVYMotbo6tF1iv2HKFrXl?locale=ar_AR\" style=\"\" rel=\"noopener\">share her insights<\/a> on improving economic stability in conflict-affected regions in a panel discussion titled <a target=\"_blank\" href=\"https:\/\/www.imfconnect.org\/content\/imf\/en\/annual-meetings\/calendar\/open\/2024\/04\/17\/183681.html?calendarCategory=T2ZmaWNpYWwvQnkgSW52aXRhdGlvbg==.UHJlc3M=.V29ybGQgQmFuaw==.T3Blbg==\" style=\"\" rel=\"noopener\">Policymaking in Times of Conflict and Instability<\/a>. During her time in Washington, El Said will also participate in symposiums on promoting comprehensive growth and gender equality, capital flows, and economic forecasts for the Middle East and Asia.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Al Mashat also has a packed schedule:<\/strong> International Cooperation Minister Rania AlMashat is participating in a number of talks and high-level events throughout the spring meetup. Later today, Al Mashat will take part in the African Consultative Group\u2019s <a target=\"_blank\" href=\"https:\/\/www.imfconnect.org\/content\/imf\/en\/annual-meetings\/calendar\/official\/byinvitation\/2024\/04\/17\/1769724.html?calendarCategory=T2ZmaWNpYWwvQnkgSW52aXRhdGlvbg==.UHJlc3M=.V29ybGQgQmFuaw==.T3Blbg==\" style=\"\" rel=\"noopener\">ministerial meeting<\/a> with World Bank president Ajay Banga before taking part in the Peterson Institute\u2019s <a target=\"_blank\" href=\"https:\/\/www.piie.com\/events\/2024\/rethinking-economic-policy-steering-structural-change\" style=\"\" rel=\"noopener\">conference<\/a> on rethinking economic policy, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02359GohSsjkZAypXr5JVh9eefXSc5qvSmByZE3sjxkXuEs9H23AbXvXB9rgSUYopYl\" style=\"\" rel=\"noopener\">statement<\/a> from the ministry. <\/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>ALSO- CultureFest kicks off today: <\/strong>The AUC\u2019s <a target=\"_blank\" href=\"https:\/\/tahrirculturefest.aucegypt.edu\/program\/april-17\" style=\"\" rel=\"noopener\">Tahrir CultureFest<\/a> \u2014 held at AUC Tahrir Square running from today until Monday \u2014 is a celebration of the Cairene spirit. Panel discussions about Cairo\u2019s history, people, and evolving culture will kick off the festival, and will be accompanied by live music, a book bazaar, a local market, and art exhibitions. Register for the event <a target=\"_blank\" href=\"https:\/\/www2.ticketsmarche.com\/culturefest\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p class=\"tag-border-left\">WORTH NOTING FROM DAY TWO OF THE IMF AND WORLD BANK\u2019S SPRING MEETUP-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>#1- <\/strong><strong>Maait on economic stability: <\/strong>Finance Minister Mohamed Maait yesterday held a one-on-one conversation with the IMF\u2019s Middle East and Central Asia head Jihad Azour under the title <a target=\"_blank\" href=\"https:\/\/www.imfconnect.org\/content\/imf\/en\/annual-meetings\/calendar\/open\/2024\/04\/16\/182895.html\" style=\"\" rel=\"noopener\">Egypt: Lessons in Restoring Macroeconomic Stability<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The finance minister has a three-point plan<\/strong> to make sure that Egypt keeps up the momentum of its economic reform agenda following the float in the face of an increasingly difficult situation across the region:<\/p><ul>\n<li>Number one and the \u201cmost important\u201d is to push towards <strong>getting inflation down<\/strong> towards the central bank\u2019s average inflation target of <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/monetary-policy\/inflation-target#inflationtargets\" style=\"\" rel=\"noopener\">7% (\u00b12%)<\/a> \u2014 which is still optimistically penciled in for 4Q 2024;<\/li>\n<li>Number two is to work on <strong>bringing interest rates down <\/strong>after their 600 bps jump in March;<\/li>\n<li>And number three is to <strong>support human development<\/strong> by improving healthcare and education, while working towards an economy that better serves its people.<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- It\u2019s only day two, and Al Mashat<\/strong><strong> has been doing the rounds: <\/strong>Al Mashat <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MOICEgypt\/posts\/pfbid02mFT54h9d4JvLRNjhdwujRR8aYMWk9hL2yUiRXbaXJKNa9ADazTtZo6F9CoPGRJeql\" style=\"\" rel=\"noopener\">met<\/a><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MOICEgypt\/posts\/pfbid02mFT54h9d4JvLRNjhdwujRR8aYMWk9hL2yUiRXbaXJKNa9ADazTtZo6F9CoPGRJeql\" style=\"\" rel=\"noopener\">with<\/a> World Bank officials to discuss challenges facing EMs, how the bank can reform its business model to better address poverty and provide development finance, and the bank\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/29a80974-4fef-4290-bd28-dc46eb661d62\" style=\"\" rel=\"noopener\">USD 500 mn financing<\/a> for the Takaful and Karama program. The international cooperation minister also took part in a meeting of G24 ministers and the United Nations Economic and Social Commission for Western Asia\u2019s <a target=\"_blank\" href=\"https:\/\/www.unescwa.org\/events\/programme-based-climatesdgs-debt-swaps\" style=\"\" rel=\"noopener\">meeting<\/a> on how debt swaps can support achieving climate action targets and Sustainable Development Goals.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And that\u2019s not all: <\/strong>Al Mashat also <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MOICEgypt\/posts\/pfbid032XadhuRr1Uw4TEsA36KS6vnDZfxRRoGWzzRZtAQ4kRBKKEyGAtMsHG7n6dNhKgvSl\" style=\"\" rel=\"noopener\">met with<\/a> officials from the Japan International Cooperation Agency (JICA) to discuss joint efforts in developing Egypt\u2019s Universal Health Ins. System \u2014 which JICA pledged some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9984e62c-0075-4085-bcfd-ad868a65e7df\" style=\"\" rel=\"noopener\">JPY 44 bn in concessional financing<\/a> last year \u2014 as well as investing in human capital and the green transition. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ENTERPRISE IS LOOKING FOR SMART, TALENTED PEOPLE of all backgrounds to help us build some very cool new things.<\/strong> Enterprise \u2014 the essential morning read on all the important news shaping business and the economy in Egypt and the region \u2014 is looking for writers, reporters and editors to help us build out new publications. Today, we run five national editions, two regional industry publications, five weekly industry verticals, and a weekend lifestyle edition designed to make our readers feel just a bit smarter.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have tons more in the pipeline \u2014 come help us build new publications.<\/strong> We offer the chance to work in a fast-paced newsroom on a broad range of topics and in a variety of formats. Our goal is simple: To create value for our growing community of &gt;250k daily readers by telling stories that matter.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>NEVER WORKED IN A NEWSROOM BEFORE?<\/strong> We have the Enterprise Business Writing Development Program. Whether you are a recent graduate, an industry vet, or looking to switch careers, the Enterprise Business Writing Development Program will give you the tools you need to tell the most important stories to our audience of C-suite officials, government ministers, diplomats, financiers, investors and entrepreneurs.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not an internship program \u2014 a career:<\/strong> The three-month program will see full-time, paid participants take part in workshops and lectures from veteran business journalists on subject matter knowledge, while also working on constructing and filing Enterprise stories that will run on any of our publications. Those who have successfully completed the program, will then be given long-term job offers.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Apply directly to jobs@enterprisemea.com and mention \u201cwriting development program\u201d<\/strong> in your subject line.<\/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=\"wwtt4\"><\/a> <strong>#1-<\/strong><strong>Dusting off old state projects:<\/strong> The government is looking to restart a number of stalled state projects building social housing, waste management facilities, and water infrastructure, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02vTVEyjoYnL4ceKoKahgJEo3qFkAeNbchy2cTARGkbUSQp7EzmXreENqWGwvihvJPl\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The context: <\/strong>This comes as the government readies itself for a new fiscal year and just after President Abdel Fattah El Sisi enters his third term, which both come with big targets to meet. Last month\u2019s influx of foreign currency has also no doubt helped the state\u2019s capacity to restart these projects.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a><strong>#2- Minimum wage exemptions now available to the private sector? <\/strong>Private sector companies with more than ten workers will now be able to submit a request to their local chamber of commerce if they feel they are unable to pay their workers the newly proposed minimum wage, according to an official circular seen by <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/04\/16\/1783650\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The National Council for Wages has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb8c9cf7-08f3-480e-b120-d394e41f0291\/happy-eid-al-fitr\" style=\"\" rel=\"noopener\">decided<\/a> to raise the minimum wage for private sector workers earlier this month to EGP 6k a month up from EGP 3.5k currently starting May.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a><strong> #3- Qatar and Algeria will become our two main sources of LNG<\/strong>, as the government seeks to import up to 52.5 bn cubic feet to meet heightened summer demand, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/04\/16\/1783674\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reported, citing an unnamed government official.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> Egypt is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7969a1e1-5fa4-4a4a-af73-74de094fd945\/egypt-looks-to-buy-more-lng-in-the-months-to-come-and-lease-floating%253cmark%253e-regasification-%253c%2Fmark%253eunit-from-bw-energy\" style=\"\" rel=\"noopener\">looking to buy more LNG<\/a> ahead of higher demand during summer. The government has already purchased at least two shipments of LNG to be delivered next month, and is in talks to lease a floating regasification unit from Norway\u2019s BW Energy for five years. <\/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\">HAPPENING THIS WEEK-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shoukry to touch down in Turkey: <\/strong>Foreign Minister Sameh Shoukry will head toTurkey this weekend to hold talks with his Turkish counterpart Hakan Fidan regarding developments of the war in Gaza, reports <a target=\"_blank\" href=\"https:\/\/www.timesofisrael.com\/liveblog_entry\/egypts-foreign-minister-to-visit-turkey-to-discuss-gaza-middle-east-tensions\/\" style=\"\" rel=\"noopener\">Reuters<\/a>, citing an unnamed Turkish diplomatic source.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:\u00a0<\/strong>Egypt and Turkey opened a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ae5b0fc-803e-47d7-a69e-acd5831c4f19\/erdogan-talks-trade,-politics-with-el-sisi-in-his-first-visit-to-cairo-in-over-a-decade\" style=\"\" rel=\"noopener\">new chapter on their relationship<\/a> in February when Turkish President Recep Tayyip Erdogan landed in Cairo for the first time since 2012 and held talks with President Abdel Fattah El Sisi. <\/p><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- A retail rendezvous:<\/strong> The second edition of Savills Retail Connect is back on 14 May at Esca Cueva in New Giza with panel discussions, retail industry insights, and networking. Speakers will include Savills Middle East CEO Steven Morgan, Head of Northern Gulf Harry Goodson-Wickes, and Head of Property Management Insights Stephen Toal. Tap or click <a target=\"_blank\" href=\"https:\/\/www.savills.com.eg\/landing-pages\/savills-retail-connect.aspx#form\" style=\"\" rel=\"noopener\">here<\/a> to register your interest to attend. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Prepare to turn your clocks an hour forward: <\/strong>Daylight saving time starts on Friday, 26 April. You\u2019ll be losing an hour\u2019s sleep as clocks jump forward one hour until the final Thursday of October.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Strap yourselves in, folks: It\u2019s shaping up to be a very busy day for business news<\/strong> in our region and around the world. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Are we in the \u201cTepid Twenties\u201d? <\/strong>That was the warning from IMF chief Kristalina Georgieva to officials and businesses around the world as we headed into this week\u2019s IMF and World Bank spring meetings. It\u2019s only by driving growth, harnessing AI, and dealing with climate change that we can turn them into the \u201cTransformational Twenties, she said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Her caution runs through the latest update to the IMF\u2019s World Economic Outlook<\/strong>, which shares top billing on this morning\u2019s front pages (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-16\/imf-lifts-growth-forecast-for-global-economy-but-warns-of-risks?srnd=homepage-middle-east&amp;sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/04\/16\/imf-upgrades-global-growth-forecast-as-economy-proves-surprisingly-resilient-despite-downside-risks.html\" style=\"\" rel=\"noopener\">CNBC<\/a>) with Jay Powell\u2019s remarks on interest rates (below). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The global economy will grow by 3.2% in this year and next<\/strong> \u2014 on par with last year \u2014 the IMF writes in the WEO. That\u2019s essentially the midpoint between the really slow growth we saw in the 2010s and the rapid growth we saw in the early years of this decade during the freemoney era. (We have more on the WEO\u2019s outlook for Egypt in this morning\u2019s news well, below.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The tent poles: <\/strong>The US economy will grow at a 2.7% clip, faster than most advanced economies, while China\u2019s GDP will expand at a 4.6% clip, unchanged from last year. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A flashing red light: <\/strong>\u201cProgress toward inflation targets has somewhat stalled since the beginning of the year,\u201d IMF chief economist Pierre-Olivier Gourinchas <a target=\"_blank\" href=\"https:\/\/mediacenter.imf.org\/news\/imf-weo-presser-2024\/s\/62b263fc-2be9-4091-9f14-059a8c904b95\" style=\"\" rel=\"noopener\">said at a news conference<\/a> on the WEO yesterday. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Enter Jay Powell, who \u201cdialed back expectations of a [US] rate cut\u201d <\/strong>in remarks that \u201ccalled into question whether the Federal Reserve will be able to lower interest rates this year without signs of an unexpected economic slowdown,\u201d the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/economy\/central-banking\/powell-dials-back-expectations-on-rate-cuts-00e3e5d0?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> reports. His worry: Inflation in the first quarter was higher than he\u2019d have liked. Powell\u2019s remarks also lead the front page of the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/3d0ddbe1-4637-4262-ba40-934015606166\" style=\"\" rel=\"noopener\">Financial Times<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO MAKING HEADLINES THIS MORNING:<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- In geopolitics: We\u2019re still waiting for Israel\u2019s next move on Iran <\/strong>after Tel Aviv\u2019s war cabinet yesterday <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/iaea-chief-worried-israel-could-strike-iran-nuclear-facilities-2024-04-15\/\" style=\"\" rel=\"noopener\">postponed<\/a> its meeting to today.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The hope in Western policymaking circles: <\/strong>That a basket of <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2024\/04\/16\/iran-sanctions-israel-biden-yellen\" style=\"\" rel=\"noopener\">new sanctions on Iran<\/a> might convince Israel not to retaliate for Iran\u2019s drone and missile attack overnight Sunday (itself retaliation for an unprecedented attack by Israel on Iran\u2019s embassy in Syria). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- In business: Microsoft has made a massive USD 1.5 bn investment in the UAE\u2019s G42<\/strong>, arguably the region\u2019s most important AI firm, EnterpriseAM UAE reports. The transaction completes G42\u2019s pivot away from China and onto US technology, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-16\/microsoft-invests-1-5-billion-in-uae-s-g42-will-get-board-seat?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a> notes. The story is also getting prominent play in the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/930a1c17-2e84-4ddb-8e72-4e4a1b833c40\" style=\"\" rel=\"noopener\">Financial Times<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Speaking of AI: Andreessen Horowitz has raised USD 7.2 bn to invest in AI-anchored <\/strong><strong>companies<\/strong>, the firm <a target=\"_blank\" href=\"https:\/\/a16z.com\/new-funds-new-era\/\" style=\"\" rel=\"noopener\">said in a note yesterday<\/a>. The high-profile VC\u2019s fund is among the biggest to close since the downturn in the VC \u201cecosystem\u201d began a couple of years back. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big themes for the fund: <\/strong>Infrastructure, growth, games, apps, and \u201c <a target=\"_blank\" href=\"https:\/\/a16z.com\/american-dynamism\/\" style=\"\" rel=\"noopener\">American dynamism<\/a> \u201d (don\u2019t get us started). <\/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 discuss how the Madbouly government\u2019s extensive plan to develop and modernize transport infrastructure can facilitate logistic services across the country and enhance locally made products\u2019 regional and global competitiveness.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/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=\"618621 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=\"618621\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/618621\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618621\" class=\"content-area-description single-story post-618621 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1736.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">DISCOVER SOMABAY: <\/span><span>Embark on a journey of discovery in the heart of Somabay, where crystal-clear waters meet golden sands and luxury meets serenity. Experience a world of adventure, relaxation, and natural beauty like no other. From thrilling water sports to world-class golf, Somabay offers it all. Explore vibrant coral reefs, unwind in luxurious spas and savor exquisite cuisine. Your dream destination awaits, where every moment is a discovery.<\/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=\"618622\" 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=\"618622\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/imf-holds-its-growth-forecast-steady-for-egypt-for-the-current-fiscal-year\/\">\r\n                            IMF holds its FY 2023-24 GDP forecast steady at 3.0% for Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/imf-holds-its-growth-forecast-steady-for-egypt-for-the-current-fiscal-year\/\" 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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size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"618623\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/imf-holds-its-growth-forecast-steady-for-egypt-for-the-current-fiscal-year\/94-jpg-34\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/94.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"94.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/94.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/94.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618622\" class=\"content-area-description single-story post-618622 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-gdp tag-imf tag-inflation wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.a2f206d6-7b2d-4426-8ba2-1f3d6dafcc01.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The IMF left its growth forecast for Egypt for the current fiscal year unchanged at<\/strong><strong> 3.0%<\/strong> in its updated <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1095.pdf\" style=\"\" rel=\"noopener\">World Economic Outlook (pdf)<\/a> released yesterday, after having <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21492e0c-4252-4e18-8696-f420040fffcd\/imf-cuts-our-growth-outlook-%25e2%2580%2594-again\" style=\"\" rel=\"noopener\">successively downgrading<\/a> the country\u2019s GDP forecast in previous reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is more optimistic than the World Bank\u2019s recent revision: <\/strong>The World Bank downgraded our growth outlook for the current fiscal year 0.7 percentage points to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/b6ea5fe9-778a-4ade-904d-908dfee4021d\/world-bank-cuts-egypt%25e2%2580%2599s-growth-outlook-for-the-current-fiscal-year-to-2.8%2525\" style=\"\" rel=\"noopener\">2.8%<\/a> earlier this week on the back of \u201csluggish industrial sector performance,\u201d high inflation, and regional conflicts impacting Suez Canal revenues and tourism receipts. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But more pessimistic than the government outlook: <\/strong>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. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The economy is expected to pick up in the next fiscal year, but at a slower pace than<\/strong><strong> previously thought:<\/strong> The IMF dampened its expectations of growth for FY 2024-25 to 4.4% from its last prediction of 4.7% in January. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While over in inflation nation:<\/strong> Consumer prices are set to increase 32.5% y-o-y on average in the current fiscal year, an upward revision of the Fund\u2019s previous prediction of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/18f5a345-3af0-4908-af1b-d9a8a46852a1\" style=\"\" rel=\"noopener\">32.2%<\/a> and up from 24.4% in the previous fiscal year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> Our inflation trajectory has become increasingly hard to forecast after the annual urban rate of inflation <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1893b899-8f26-4bd3-8c9c-232f2d8ee93c\/%253cmark%253einflation-%253c%2Fmark%253eeases-in-march-following-egp-float\" style=\"\" rel=\"noopener\">cooled 2.4 percentage points<\/a> to 33.3% y-o-y in March, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea6c1f19-efbe-4bcd-b2d4-5721c0c14979\/el-sisi-reiterates-economic-promises-for-his-third-term\" style=\"\" rel=\"noopener\">defying analyst forecasts<\/a> that saw inflation increasing in the month. While the month before, analyst forecasts were off the mark a whole ten percentage points, but this time in the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/98061d01-2567-4fa0-ae15-7bbd9ca9b5ba\" style=\"\" rel=\"noopener\">other direction<\/a>, as inflation unexpectedly jumped 5.9 percentage points in February to 35.7% after having <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/175147fe-3a1c-4e80-85f2-916747c0bf6e\" style=\"\" rel=\"noopener\">cooled<\/a> for four consecutive months.<\/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\">THE REGIONAL OUTLOOK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IMF lowered its MENA growth outlook for the year by 0.1 percentage point, <\/strong>now expecting regional growth to pick up to 2.8% in 2024, up from 2.0% the year before. The report pointed to the downward revision of Iran\u2019s forecast as the main driver behind the cut on the back of projected lower non-oil activity and oil revenues in the country. <\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/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=\"618624\" 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=\"618624\">\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\">Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/exports-grew-5-y-o-y-during-1q-2024\/\">\r\n                            Egypt\u2019s exports grew 5% y-o-y during 1Q 2024                        <\/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\/17\/exports-grew-5-y-o-y-during-1q-2024\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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It was followed by Saudi Arabia, the UAE, Italy, and the US. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What is Egypt exporting? <\/strong>Building materials were the most in-demand export in 1Q 2024,accounting for 20.4% of our total exports, followed by foodstuff, chemical products and fertilizers, and agricultural exports. An increased export volume of citrus fruits, nitrogen fertilizers, and insulated cables, and gold, accounted for the overall increase in Egypt\u2019s exports this year, according to a separate <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02PbXvp1hQomJJsjwPUefYjfP2RwdBJcPjKPNS7Tuy34GAdsBYKCrqF4YU1vd7WumZl\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Boosting exports is at the forefront of El Sisi\u2019s third term in office: <\/strong>The government <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\">plans<\/a><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\"><\/a><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\">to launch<\/a> a six-year export strategy \u2014 dubbed EgyExTriple 10 \u2014 to increase exports every year by 15-20% so as to reach USD 145 bn in exports a year by 2030 by establishing ten specialized export zones, developing ten export-oriented industrial zones, and focusing on ten unidentified key export markets.<\/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\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/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=\"618626 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=\"618626\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/618626\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618626\" class=\"content-area-description single-story post-618626 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:\/\/aimsinternational.com\/en\/company\/aims-egypt\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1021.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"618627\" 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=\"618627\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/macro-group-turns-to-losses-in-2023\/\">\r\n                            EGX-listed Macro Group turns to losses in 2023 on higher financing costs, lower revenues                        <\/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        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          <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/macro-group-turns-to-losses-in-2023\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1103.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"618628\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/macro-group-turns-to-losses-in-2023\/1103-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1103.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1103.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1103.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1103.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618627\" class=\"content-area-description single-story post-618627 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-enterpriseam tag-healthcare tag-macro-group tag-pharma wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.ac2b6236-8574-411d-a1c4-401666a8896b.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Higher finance costs, lower revenues hit Macro Group\u2019s bottomline:<\/strong> Pharma and cosmeceuticals firm Macro Group turned to losses in 2023 on the back of a dip in revenues and higher financing costs, the company said in its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1046.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The company reported a net loss of EGP 273 mn for the year, compared to net income of EGP 174 mn in 2022. The company attributed the dip in income to \u201clow operating profitability, a hike in one-off impairment losses on financial and non-financial assets, amounting to EGP 123 mn,\u201d as well as a \u201csignificant increase\u201d in net finance cost during the year, which reached EGP 63 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Revenues decreased 28% y-o-y to EGP 526 mn <\/strong>on the back of price deductions offered to pharma chains during 4Q, as well as lower sale volumes, which dipped 29% y-o-y. This was \u201cslightly offset by a 25% increase in average pricing and better sales mix dynamics,\u201d the company said. Skincare contributed the lion\u2019s share of the group\u2019s revenues for the year, making up 39% of its revenues, followed by haircare with 18%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the company seems set on changing course: <\/strong>The company\u2019s management team was given a shake up in the last quarter of the year, with changes made to the CEO, CFO, chief supply chain officer, and other senior management positions, along with \u201ca thorough review of the company\u2019s revenue cycle management and supply chain controls.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cOver the year, our sales experienced a downturn due to reduced volumes ,exacerbated by liquidity constraints within Egypt\u2019s pharma distribution network and substantial discounts offered in the fourth quarter under challenging market conditions and previous revenue cycle management issues,\u201d Macro Group Chairman Ahmed El Nayeb said. \u201cNonetheless, there are positive indicators that the market-wide destocking phase is concluding, and we remain optimistic about sustained demand for our products,\u201d he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Macro could step into new markets:<\/strong> The company plans to continue to prioritize exports to hedge against possible currency devaluations, El Nayeb continued. Despite its exports seeing a 22% y-o-y drop in 2023 that the company attributes to instability in its key markets in Syria, Yemen, and Sudan, the company is exploring new markets, including Saudi Arabia and South Korea, he added.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/macro-group\/\">Macro Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"618629 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=\"618629\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/618629\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618629\" class=\"content-area-description single-story post-618629 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/186.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"618630\" 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=\"618630\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/speculation-about-israels-next-move-dominated-the-airwaves\/\">\r\n                            Speculation about Israel\u2019s next move dominated the airwaves                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1132.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"618631\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/speculation-about-israels-next-move-dominated-the-airwaves\/1132-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1132.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1132.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1132.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1132.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618630\" class=\"content-area-description single-story post-618630 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-iran tag-israel tag-last-nights-talk-shows tag-middle-east-politics tag-pharma tag-pharmacists-syndicate 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\/.ac2b6236-8574-411d-a1c4-401666a8896b.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Escalating tensions between Iran and Israel and the prospect of a regional war erupting<\/strong><strong> dominated the talk shows last night<\/strong>, with the nation\u2019s talking heads offering their thoughts on the matter and inviting experts on to get a better grasp of the situation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cAn Israeli strike on Tehran could be limited in scope... and could be a cyber attack,\u201d<\/strong> said Egyptian Center for Strategic Studies head Khaled Okasha in a phone call with Sherif Amer on Yahduth Fi Masr (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=a4FoU9-VSaA\" style=\"\" rel=\"noopener\">watch, runtime: 5:04<\/a>). \u201cInternational powers, led by the United States, do not want the conflict to expand to an uncontrollable extent,\u201d he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cIran provided a service to Israel and harmed the Palestinian cause\u201d <\/strong>by turning attention away from its aggressions in Gaza and turning away global public support for their plight, Osama Kamal said on Masaa DMC (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=Ak3wAAh3Lpo\" style=\"\" rel=\"noopener\">watch, runtime: 3:57<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Local pharma companies have asked to increase meds prices by at least 50% following<\/strong><strong> the EGP float<\/strong>,<strong> <\/strong>Sherif Amer said on Yahduth Fi Masr (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=jvW0_W8weEk\" style=\"\" rel=\"noopener\">watch, runtime: 9:19<\/a>). It\u2019s unlikely that prices will rise by that much, but chronic disease medication could get at least 20-25% more expensive, Pharmacists Syndicate pharma manufacturing head Mahfouz Ramzy told Amer. The cheapest meds will be the ones subject to the steepest price increases, Ramzy added.<\/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\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n         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class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div 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target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-1dvqpsg\" data-v=\"4\" data-block-id=\"1dvqpsg\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-1dvqpsg-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-1dvqpsg-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\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div 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33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"618633\" 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=\"618633\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/the-ft-on-the-return-of-investor-appetite-for-local-debt\/\">\r\n                            The FT on the return of investor appetite for Egyptian debt                        <\/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\/17\/the-ft-on-the-return-of-investor-appetite-for-local-debt\/\" 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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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1034.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1034.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1034.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1034.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618633\" class=\"content-area-description single-story post-618633 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-economy tag-enterpriseam tag-treasuries 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\/.ac2b6236-8574-411d-a1c4-401666a8896b.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cEverybody wants a piece of Egypt now,\u201d <\/strong>Goldman Sachs\u2019 MENA economist Farouk Soussa tells the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/dda039b4-a57e-4714-98a9-14bbb85bca51\" style=\"\" rel=\"noopener\">Financial Times<\/a> in a piece diving into the resurging foreign demand for Egyptian debt following the float of the EGP and the USD bns of funds secured from the Gulf and international partners. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>Foreign investors have poured USD 8.5 bn in \u201chot money flows\u201d into short-term local debt over the past month, according to the salmon-colored paper. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>S<\/strong><strong>ustained reforms is the order of the day:<\/strong> The economic reforms the Madbouly government is currently implementing provide \u201cassurance that Egypt\u2019s going to revert to a more orthodox policy trajectory and that it\u2019s going to roll back some of the excesses that brought us to this place in the first place,\u201d Soussa said. \u201cThere\u2019s now [a chance] \u2026 If it\u2019s wasted, it will be because of a reversion to poor economic policy and policy decisions.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO PUTTING EGYPT IN THE NEWS-<\/strong><\/p>\n<ul>\n<li><strong>Caught red handed: <\/strong>An antiques trader has been arrested in Spain for selling a looted ancient Egyptian sculpture worth over USD 200k. (<a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/news\/europe\/2024\/04\/16\/antiques-dealer-arrested-over-sale-of-looted-3500-year-old-egyptian-sculpture\/\" style=\"\" rel=\"noopener\">The National<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/treasuries\/\">treasuries<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"618635\" 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=\"618635\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/egyptian-american-enterprise-fund-to-finance-tanmiya-capital-ventures-fund-plus-city-lab-stake-sale-fast-approaching\/\">\r\n                            Egyptian-American Enterprise Fund to finance Tanmiya Capital Ventures fund. PLUS: City Lab stake sale fast approaching                        <\/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\/17\/egyptian-american-enterprise-fund-to-finance-tanmiya-capital-ventures-fund-plus-city-lab-stake-sale-fast-approaching\/\" 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\/17\/egyptian-american-enterprise-fund-to-finance-tanmiya-capital-ventures-fund-plus-city-lab-stake-sale-fast-approaching\/')\">\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\/17\/egyptian-american-enterprise-fund-to-finance-tanmiya-capital-ventures-fund-plus-city-lab-stake-sale-fast-approaching\/\">\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=Egyptian-American Enterprise Fund to finance Tanmiya Capital Ventures fund. PLUS: City Lab stake sale fast approaching&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/egyptian-american-enterprise-fund-to-finance-tanmiya-capital-ventures-fund-plus-city-lab-stake-sale-fast-approaching\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/egyptian-american-enterprise-fund-to-finance-tanmiya-capital-ventures-fund-plus-city-lab-stake-sale-fast-approaching\/&title=Egyptian-American Enterprise Fund to finance Tanmiya Capital Ventures fund. PLUS: City Lab stake sale fast approaching\">\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=Egyptian-American+Enterprise+Fund+to+finance+Tanmiya+Capital+Ventures+fund.+PLUS%3A+City+Lab+stake+sale+fast+approaching+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F04%2F17%2Fegyptian-american-enterprise-fund-to-finance-tanmiya-capital-ventures-fund-plus-city-lab-stake-sale-fast-approaching%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\/17\/egyptian-american-enterprise-fund-to-finance-tanmiya-capital-ventures-fund-plus-city-lab-stake-sale-fast-approaching\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1403.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"618636\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/egyptian-american-enterprise-fund-to-finance-tanmiya-capital-ventures-fund-plus-city-lab-stake-sale-fast-approaching\/1403-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1403.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1403.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1403.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1403.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618635\" class=\"content-area-description single-story post-618635 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-acud tag-also-on-our-radar tag-china tag-egypt-china-relations tag-egyptian-american-enterprise-fund tag-enterpriseam tag-healthcare tag-investment-watch tag-ma-watch tag-new-administrative-capital tag-retail tag-tanmiya-capital-ventures wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.ac2b6236-8574-411d-a1c4-401666a8896b.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">INVESTMENT- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egyptian-American Enterprise Fund to fuel the next Tanmiya Capital Ventures<\/strong><strong> fund:<\/strong> The <a target=\"_blank\" href=\"https:\/\/www.eaefund.org\/\" style=\"\" rel=\"noopener\">Egyptian-American Enterprise Fund<\/a> will provide USD 50 mn in financing for Tanmiya Capital Ventures\u2019 (TCV) upcoming fund that is targeting USD 100 mn, according to <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/04\/17\/1783763\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. TCV\u2019s fund \u2014 dubbed TCV II \u2014 will invest in medium-sized companies, focusing on growing family businesses into institutional firms.<\/p><p class=\"tag-border-left\">M&amp;A-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>City Lab\u2019s stake sale to a GCC alliance is fast approaching: <\/strong>Medical diagnostic services company City Lab Egypt will complete the sale of a 25% stake in the company to a Gulf consortium that includes Premium Diagnostics\u2019 Saudi, Emirati, US, and Egyptian arms by 20 June at the latest, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1069.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> City Lab Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dd1efa21-eb61-4c16-b428-1399abe72e18\/edita-looks-to-acquire-bisco-misr%3F\" style=\"\" rel=\"noopener\">inked<\/a> an MoU with the Gulf consortium late last month to buy up to a25% stake in the company for EGP 250 mn. The acquisition will see the Gulf consortium work with City Lab to expand its activities.<\/p><p class=\"tag-border-left\">REAL ESTATE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ACUD, Beijing to help each other develop diplomatic districts:<\/strong> The Administrative Capital for Urban Development (ACUD) \u2014 a joint venture between the military and the Housing Ministry \u2014 and the Chinese township of Dongba in Beijing will work together to develop the diplomatic district in the new administrative capital here and the fourth embassy area in Beijing under an MoU inked by the two sides yesterday, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1053.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The agreement will see the two parties exchanging expertise, work together to better utilize technology, and improve environmental standards.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The diplomatic district here is near completion: <\/strong>Most of the district\u2019s infrastructure has been completed, said ACUD CEO Khaled Abbas. Some 50 embassy buildings, a United Nations building, residential units for diplomats, schools, places of worship, along with a club and a hotel have already been built, he added.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/acud\/\">ACUD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-china-relations\/\">Egypt-China relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-american-enterprise-fund\/\">Egyptian American Enterprise Fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/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\/new-administrative-capital\/\">new administrative capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/retail\/\">retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tanmiya-capital-ventures\/\">Tanmiya Capital Ventures<\/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=\"618637\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"618637\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/activity-in-chinas-capital-markets-is-on-a-downward-spiral\/\">\r\n                            Activity in China\u2019s capital markets is on a downward spiral                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1121.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"618638\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/activity-in-chinas-capital-markets-is-on-a-downward-spiral\/1121-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1121.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1121.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1121.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1121.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618637\" class=\"content-area-description single-story post-618637 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-china tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.ac2b6236-8574-411d-a1c4-401666a8896b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">China\u2019s capital markets are increasingly isolated:<\/strong><span style=\"background-color: transparent;\"> Declining global investor interest in China has pushed activity in the country\u2019s equity capital markets to multi-decade lows, writes the <\/span><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/9ce26256-0304-42a8-9f78-5c203d02d95c\" rel=\"noopener\">Financial Times<\/a><span style=\"background-color: transparent;\">.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers:<\/strong> Mainland IPOs along with follow-on and convertible share offerings have brought in some USD 6.4 bn in the first four months of 2024, the lowest number ever recorded, while offshore fundraising stood at USD 1.6 bn for the period \u2014 the lowest in over two decades \u2014 and outbound M&amp;A transactions came in at their lowest since 2005 at USD 2.5 bn. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the slump:<\/strong> Mounting geopolitical Beijing-Washington tensions and shrinking levels of activity in China have seen international banks and firms avoid the country. On top of this, property developers \u2014 a former pillar of Asia\u2019s high-yield bond market \u2014 have ceased international borrowing in the wake of a government crackdown on using debt to fund projects that unsettled their business models, writes the salmon-colored paper.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But on the plus side:<\/strong> China\u2019s economy grew at a faster-than-anticipated rate of 5.3% y-o-y in 1Q 2024, according to <a target=\"_blank\" href=\"https:\/\/www.stats.gov.cn\/english\/PressRelease\/202404\/t20240416_1954583.html\" style=\"\" rel=\"noopener\">data<\/a> from China\u2019s National Bureau of Statistics out yesterday. Chinese firms, banks, and government borrowers have also issued USD 26 bn of international debt this year, up from USD 24 bn the year before, while mainland borrowing is up 17% y-o-y to USD 246 bn.<\/p><p class=\"tag-border-left\">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 trending mainly lower<\/strong>, with the Shanghai Composite (+0.7%) the only outlier at dispatch time. US and European stock futures are little changed, with most major benchmarks up very slightly overnight after the S&amp;P 500 notched yesterday its third day of losses.<\/p><p><a target=\"_blank\" id=\"t.9c8111c5dea25ca23d42810fea1b28e37c373cd0\" 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\">29,401<\/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: +18.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 48.48<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.62<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB<\/strong><strong>)<\/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 48.5<\/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 48.6<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,500<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.6% (YTD: +4.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,194<\/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\">-0.6% (YTD: -4.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,184<\/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% (YTD: +3.1%)<\/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>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\">5,051<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +5.9%)<\/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\">7,820<\/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\">-1.8% (YTD: +1.1%)<\/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>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,916<\/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% (YTD: +8.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 90.02<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 1.69<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,399.80<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 63,963.50<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2% (YTD: +51.4%)<\/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 0.7% at yesterday\u2019s close<\/strong> on turnover of EGP 4.5 bn (10.1% below the 90-day average). Local investors were net buyers. The index is up 18.1% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Ezz Steel (+5.0%), Oriental Weavers (+4.9%), and Egypt Kuwait Holding-EGP (+3.7%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>E-finance (-3.3%), Abu Qir Fertilizers (-2.6%), and Alexandria Containers and Cargo Handling (-2.6%).<\/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>FRA greenlights MM Group\u2019s capital increase: <\/strong>MM Group for Industry and International Trade will raise its issued and paid-in capital by EGP 187.3 mn to EGP 936.6 mn after it received the greenlight from the Financial Regulatory Authority (FRA), the authority said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1061.pdf\" style=\"\" rel=\"noopener\">EGX disclosure 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href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/how-egypt-is-investing-in-infrastructure-as-a-way-to-boost-trade-competitiveness-and-attract-more-industrial-investments\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1099.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"618640\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/how-egypt-is-investing-in-infrastructure-as-a-way-to-boost-trade-competitiveness-and-attract-more-industrial-investments\/1099-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1099.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1099.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1099.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1099.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-618639\" class=\"content-area-description post-618639 hardhat type-hardhat status-publish has-post-thumbnail hentry category-hardhat tag-enterprise-hardhat tag-enterpriseam tag-hardhat tag-infrastructure tag-logistics tag-trade tag-transport-ministry 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>What Egypt is doing to boost its transport infrastructure: <\/strong>Over the past decade, the state has embarked on an extensive plan to develop and modernize transport infrastructure in a bid to facilitate logistic services across the country and leverage its strategic location that intersects with many international trade routes to enhance its trade competitiveness.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How much are we talking? <\/strong>The government has made massive investments in the transport sector over the past ten years and has plans to invest another <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\">EGP 1.5<\/a><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\">tn<\/a> between 2024 and 2030. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our logistics performance in comparison to others: <\/strong>Egypt ranked 57th globally and seventh in the Arab world on the World Bank's <a target=\"_blank\" href=\"https:\/\/lpi.worldbank.org\/\" style=\"\" rel=\"noopener\">Logistics Performance<\/a><a target=\"_blank\" href=\"https:\/\/lpi.worldbank.org\/\" style=\"\" rel=\"noopener\">Index<\/a><a target=\"_blank\" href=\"https:\/\/lpi.worldbank.org\/\" style=\"\" rel=\"noopener\">2023<\/a>. The index measures the ease of establishing supply chain connections and the structures that make it possible \u2014 namely the quality of logistics services and trade and transport-related infrastructure.<\/p>\n<p class=\"tag-border-left\">WHY IT MATTERS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Transport infrastructure is a key pillar of sustainable growth<\/strong>, it attracts investments and facilitates trade and commerce, according to a <a target=\"_blank\" href=\"https:\/\/blogs.worldbank.org\/en\/arabvoices\/morocco-how-do-road-infrastructure-investments-influence-private-sector-investments\" style=\"\" rel=\"noopener\">World Bank<\/a> blogpost. \u201cCompanies often choose locations based on access to well-maintained roads for efficient trade and transportation,\u201d the post read.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Better infrastructure will help us fulfill our ambitious exports targets:<\/strong> Upgrading its transport and storage infrastructure will help Egypt make the best of its trade agreements with African, Asian, and European nations and boost exports in the process, Elsewedy Electric CEO Ahmed El Sewedy told Enterprise. These trade agreements \u201ccan help ensure access to markets, reduce transaction costs, and increase transparency,\u201d according to the <a target=\"_blank\" href=\"https:\/\/blogs.worldbank.org\/en\/voices\/how-can-we-reinvigorate-international-trade\" style=\"\" rel=\"noopener\">World Bank<\/a>. <\/p>\n<p class=\"tag-border-left\">WHAT NEEDS TO BE DONE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We need more industrial and logistic zones:<\/strong> As of 2022, there were 147 state-developed approved industrial zones and 17 private-sector developed industrial complexes in Egypt. Plans are underway to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/18370d5b-54f3-4fc7-9850-dc2211d8f278\" style=\"\" rel=\"noopener\">double the country\u2019s industrial zones<\/a> by the end of the decade, with plans to have 32 industrial complexes by 2030, seven of which will be set up between 2023-2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More are on the way:&nbsp;<\/strong>The government has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/afc224b0-71d8-4d45-9cae-ee69ceff615d\/news-of-more-freezones-%2B-flights\" style=\"\" rel=\"noopener\">prepared a list of sites<\/a> in 11 cities it plans to offer to investors to establish public freezones in a bid to attract foreign direct investments and boost exports. The list includes land plots in 10th of Ramadan, New Alamein, Sadat City, New Borg El Arab, New October, New Obour, New Sohag, New Beni Suef, New Aswan, New Tiba, and Capital Garden City.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Companies are already lining up for a piece of these zones: <\/strong>The General Authority for Investment and Freezones <a target=\"_blank\" href=\"https:\/\/www.cabinet.gov.eg\/News\/Details\/75040\" style=\"\" rel=\"noopener\">has already received offers<\/a> from a number of companies looking to set up shop in these freezones. The offers came from manufacturers of electric cables, plastics, ready-made garments and textiles, electric vehicles, and water pumps production.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Madbouly government <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9d9e465e-d044-498a-9e4f-39d985f4483f\" style=\"\" rel=\"noopener\">plans to build 60 logistics zones<\/a><\/strong><strong> by 2030<\/strong>, with these split into zones to service the governorate they\u2019re set up in and other zones to service surrounding governorates. The plan entails setting up eight zones to service the governorate in which they\u2019re established, three of which were currently in the execution phase, in addition to 52 zones to service surrounding governorates, with 11 of these currently being built, as of July. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Seven new logistic corridors in the works:<\/strong> The Transport Ministry is working on seven new integrated logistic corridors to connect production areas with seaports, or to link Red Sea ports with their Mediterranean counterparts, the ministry said in a statement <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02gc2XwmfDQh1yFJnAwVWwxakQrcGMAkB1qFpPk8ZzAnh6GAbpXRBpBRG5b65RtKwYl\" style=\"\" rel=\"noopener\">this month<\/a>. The ministry\u2019s plan also seeks to serve urban communities via railway or a road network that pass by these corridors\u2019 dry ports and logistic zones.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>These corridors are spread across various parts of the country:<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The Sokhna-Alexandria corridor <\/strong>passes through the 10th of Ramadan dry port and logistics center and will be connected to the rail network through the Robeiky-10th of Ramadan-Belbeis railway line. It will pass by the 10th of Ramadan industrial zone, Cairo, then the 6th of October Industrial Zone, its dry port, and logistic zone, before reaching Alexandria Port.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Arish-Taba corridor <\/strong>will pass through heavy industries zones in central Sinai. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The Cairo-Alexandria corridor <\/strong>kicks off in Bashtil, passing through the Sadat and the 6th of October dry ports and linking them to the railway network via the Bashtil rail line and ultimately to the Alexandria Port.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- The Tanta-Mansoura-Damietta corridor <\/strong>serves the agricultural production areas in the heart of the Nile Delta and industrial zones in Menofia\u2019s Quesna, Tanta, Kafr El Zayat, El Mahalla, and Mansoura and links them to the Damietta Port via rail.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- The Gargoub-Salloum corridor <\/strong>passes through the logistic zone east of Salloum \u2014 a village that sits along the Egyptian-Libyan border. This corridor aims to increase trade between Egypt and Libya.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- The Cairo-Aswan-Abu Simbel corridor<\/strong> will pass through a number of dry ports and logistic zones \u2014 including New Fayoum and New Sohag and agricultural areas in Toshka, East Owainat, and Abu Simbel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#7- The Safaga-Qena-Abu Tartur corridor <\/strong>starts in the Safaga Port on the Red Sea and the logistic zone in Safaga. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt has made<\/strong><strong> significant progress in overhauling its road network, plans for more:<\/strong> The length of paved roads in Egypt increased by nearly doubled over the past ten years, exceeding 130k kilometers by the end of 2023, compared to about 66k kilometers in 2013, according to data from state statistics agency Capmas. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big plans ahead: <\/strong>The government wants to increase the length of major roads by some 50%over the coming six years to reach a combined 10.5k kilometers. It also plans to enhance connectivity by constructing 34 new corridors across the Nile River and 1.2k overpasses, compared to the 13 corridors and 1k overpasses built during the 2014-2023 period.<\/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>Gov\u2019t setting up two solar plants with EU funding:<\/strong> The Madbouly government unveiled its plans to build two solar power plants for the state-owned Egyptian General Petroleum Corporation (EGPC) worth over <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26cf207c-94e8-442c-9ff1-9401a36869b1\" style=\"\" rel=\"noopener\">EGP 1 bn<\/a> to be financed by a grant from the European Union.<\/li>\n<li><strong>New hotel incoming: <\/strong>Arabia Group subsidiary Arabia Hotels has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/42608e1b-14da-4fba-8e1f-3025ff7d1a2e\" style=\"\" rel=\"noopener\">kicked off construction<\/a> of its USD 220 mn Fairmont Sun Capital Hotel overlooking the Giza Pyramids. <\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport-ministry\/\">Transport Ministry<\/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=\"618641\" 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\/17\/618641\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618641\" class=\"content-area-description single-story post-618641 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;\">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 (Friday): 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;\">29-30 June (Saturday-Sunday): 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\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Exports up 5% in 1Q | Maait\u2019s three-point plan for the economy | Egyptian ministers descend on Washington for IMF, World Bank meetings<\/p>\n","protected":false},"featured_media":618618,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-618617","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"12c9549c-ade4-49f5-aa1b-f11a4b28b1c3","teaser":"Exports up 5% in 1Q | Maait\u2019s three-point plan for the economy | Egyptian ministers descend on Washington for IMF, World Bank 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