{"id":618693,"date":"2024-04-18T00:00:00","date_gmt":"2024-04-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=618693"},"modified":"2025-12-17T05:12:41","modified_gmt":"2025-12-17T05:12:41","slug":"madbouly-government-sees-economy-growing-at-4-0-clip-in-fy-2024-25","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/madbouly-government-sees-economy-growing-at-4-0-clip-in-fy-2024-25\/","title":{"rendered":"Madbouly government sees economy growing at 4.0% clip in FY 2024-25"},"content":{"rendered":"<section id=\"618695\" 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=\"618695\">\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\/18\/saudi-arabias-ajlan-bros-holding-mulls-integrated-tourism-project-in-ras-gamila\/\">\r\n                            Saudi Arabia\u2019s Ajlan &amp; Bros Holding mulls integrated tourism project in Ras Gamila                        <\/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\/18\/saudi-arabias-ajlan-bros-holding-mulls-integrated-tourism-project-in-ras-gamila\/\" 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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While the government is more optimistic about the current fiscal year, it\u2019s the Fund and World Bank who are more optimistic about the coming fiscal year \u2014 so let\u2019s hope they\u2019re both half right.<\/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\u2019ve also got news of Palm Hills Developments partnering up with Cleopatra Group for a project on the North Coast, GB Auto\u2019s new venture in Jordan, and much, much more for you this morning.<\/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 class=\"tag-border-left\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- We have another short work week ahead: <\/strong>The public and private sectors will beoff on Thursday, 25 April in observance of Sinai Liberation Day, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0EhdHuqEEcqsso6ZrXAFNsHXSGjEFQ4nr8QZzgbyUKg2drN1DAf4gYmUcNFDcdp42l\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a><strong>#2- EgyptAir has temporarily suspended flights between Cairo and Dubai<\/strong> after Tuesday\u2019s bout of\u00a0<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/853ca0a0-26fb-4032-8d31-af48609587d8\/it%25e2%2580%2599s-day-three-of-the-imf-and-world-bank%25e2%2580%2599s-spring-meetup\" target=\"_blank\" rel=\"noopener\">torrential rain<\/a>\u00a0in the UAE flooded Dubai International Airport, the company <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EGYPTAIR\/posts\/pfbid0WmquXoeTBXhKTyt2FV9HqhU86XGp2WS4d9AH5r9K1eXyL6DumQJc9rbkVmTYr65tl?locale=ar_AR\" style=\"\" rel=\"noopener\">said<\/a> yesterday. Flights will resume when \u201cweather conditions in Dubai improve and aircraft are allowed to land and take off again,\u201d the national flag carrier said.<\/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>WEATHER- It\u2019s slightly cooler in Cairo today<\/strong>, with a high of 30\u00b0C and a low of 18\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And it\u2019s a whole lot cooler in Alexandria<\/strong>, with a high of 24\u00b0C and a low of 16\u00b0C. It\u2019s also pretty sandy in Alex and along the North Coast westwards, so be careful on the roads with limited visibility. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And the sun will continue over the weekend, <\/strong>with highs of around 30\u00b0C in the capital and the cooler weather continuing for our friends on the Mediterranean with temperatures reaching the mid 20s.<\/p><p class=\"tag-border-left\">WATCH THIS SPACE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a>  <strong>#1- Is Ajlan &amp; Bros Holding eyeing up Ras Gamila? <\/strong> Saudi Arabia\u2019s Ajlan &amp; Bros Holding has indicated its interest in developing an integrated tourism project in Ras Gamila in a letter to the government, reported <a target=\"_blank\" href=\"https:\/\/www.cairo24.com\/1990906\" style=\"\" rel=\"noopener\">Cairo 24<\/a>, citing unnamed sources it says are in the know.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Rumors that Egyptian and Saudi authorities were in talks over the development rights of Ras Gamila circulated <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/379713a1-7a7b-4b19-a4f8-14913e1cc517\/february%25e2%2580%2599s-inflation-figures-out-today\" style=\"\" rel=\"noopener\">last month<\/a> around the same time that the USD 35 bn Ras El Hekma agreement was unveiled. Talks are \u201cstill at early stages and could fall through,\u201d sources told Bloomberg. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- Debt pressures continue to weigh on Egypt despite recent bailouts: <\/strong>Egyptian authorities are in talks with the central bank, pension funds, and the main state health insurer in order to delay repayments of some of its domestic debt owed to those entities, Finance Minister Mohamed Maait said in an interview according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-17\/egypt-in-talks-to-extend-debt-maturities-to-ease-financing-needs\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The aim is to extend the average debt maturity to 4.5-5 years by June 2028, compared to 3.3 years at the end of this fiscal year, said Maait. The Finance Minister didn\u2019t specify how much of the debt would be restructured. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What gives? <\/strong>The aim is to improve Egypt's financial stability and flexibility by managing its debt more effectively, because \u2014 despite <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48abf1bf-911b-4e73-acb1-3970be5f9bc4\/after-securing%253cmark%253e-world-bank-%253c%2Fmark%253epackage,-we%25e2%2580%2599re-now-looking-at-usd-57-bn-in-inflows\" style=\"\" rel=\"noopener\">securing<\/a> at least USD 57 bn of finance in the less than two months from the IMF, EU, World Bank, and Ras El Hekma agreement this year \u2014 Egypt faces a heavy debt burden, with half of state revenues going into interest payments alone. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ENTERPRISE <\/strong><strong>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\">HAPPENING TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>It\u2019s day four 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>On the agenda today: <\/strong>CBE Deputy Governor Rami Aboul Naga and International Cooperation Minister Rania Al Mashat are booked in for separate <a target=\"_blank\" href=\"https:\/\/www.atlanticcouncil.org\/imf-world-bank-week\/\" style=\"\" rel=\"noopener\">conversations<\/a> with the Atlantic Council.<\/p><p class=\"tag-border-left\">WORTH NOTING FROM DAY THREE 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\"><strong>#1- Maait talks hea<\/strong><strong>lth, private sector development: <\/strong>Finance Minister Mohamed Maait <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02oD2echiLQ9Y7i8nwch8zMvL1jyVmmmXz24uWBP7JhnDbqQr7RdQWuSioXB1PsrqVl\" style=\"\" rel=\"noopener\">discussed<\/a> declining public health indicators as a result of international tensions, falling funding, and food scarcity during a round table with his African counterparts on the sidelines of the event. Maait also <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0ursN6iT9vWJFcEUPfG8vxtpNUNdb2XCoao5CftU2eHvvSSy7fQCoxUUVzpT7FE63l\" style=\"\" rel=\"noopener\">urged for<\/a> more coordination across the continent to develop African economies, make most effective use of local resources, and help build resilience against external shocks. Egypt\u2019s private sector is \u201cactive,\u201d he said, and it intends to invest more into African countries and forge stronger intra-continental ties.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Al Mashat + G24: <\/strong>International Cooperation Minister Al Mashat <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0UZ5ve6TGUQVQ67DQP53UYZxE2KGNeSEnmt76RpFPL6uLra43LhQiR8WP6cWURrnml\" style=\"\" rel=\"noopener\">called<\/a> for the international community to support debt swaps and other alternative financing methods to support the green transition in developing countries. The minister also argued that funding climate efforts should not come at the expense of a focus on tackling poverty and promoting \u201cshared prosperity.\u201d She also <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0dx9rDcLRy8f6LQjHALXG8NdubJMKSykpXz4y9XKUssmMGaxqyDFih94SfhqqA866l\" style=\"\" rel=\"noopener\">addressed<\/a> the massive financing gap in global infrastructure and outlined Egypt\u2019s efforts to attract private sector investments into infrastructure projects via its NWFE program, during a separate event hosted by the Global Infrastructure Facility. <\/p><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong><strong>Attentio<\/strong><strong>n, cybersecurity geeks:<\/strong> The people behind the FDC Summit and the Egypt Cybersecurity &amp; Defense Intelligence Systems (CDIS) expo are launching a new joint cybersecurity and digital transformation event from 19-21 May, at Egypt International Exhibitions Centre, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1240.pdf\" style=\"\" rel=\"noopener\">a press release (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1240.pdf\" style=\"\" rel=\"noopener\">pdf)<\/a>. Titled Egypt International Summit for Digital Transformation and Cybersecurity, the three-day event will focus on integrating efforts and raise awareness on the importance of cybersecurity and digital transformation.<\/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\">DATA POINT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>Investors have pledged some USD 894 mn in investments into the Suez Canal\u00a0<\/strong><strong>Economic Zone <\/strong> \u2014 40% of which came from China \u2014 during 1Q 2024, according to a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/4rp4hjcf\" style=\"\" rel=\"noopener\">SCZone statement<\/a>.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">THE BIG STORY ABROAD: WAR?<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>To use the language of the weather forecasters: It\u2019s a mixed day for news <\/strong>around the world, with no single story holding sway and little but clouds in the sky. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Mattering most to our corner of the world: Israel\u2019s allies are increasingly convinced <\/strong><strong>that it will respond militarily <\/strong>\u2014 in one form or another \u2014 to Iran\u2019s Sunday missile and drone attack.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cIt is clear that the Israelis are making a decision to act.<\/strong> We hope that they do so in a way that does as little to escalate this as possible,\u201d British Foreign Minister David Cameron <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2024\/04\/17\/world\/iran-israel-gaza-war-news\/britains-foreign-secretary-signals-that-israel-will-not-let-irans-assault-go-unanswered?smid=url-share\" style=\"\" rel=\"noopener\">said yesterday<\/a> as he headed into a meeting with Israel\u2019s Benjamin Netanyahu, who yesterday warned Cameron and German Foreign Minister <a target=\"_blank\" href=\"https:\/\/www.yahoo.com\/news\/german-foreign-minister-israel-prudent-160247911.html\" style=\"\" rel=\"noopener\">Annalena Baerbock<\/a> (also in Tel Aviv for a visit) that \u201cwe will make our own decisions.\u201d <strong>G7 nations have still not announced the sanctions <\/strong>on Iran that they hope might convince Netanyahu to sit tight.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Iran is readying its air force <\/strong>and said its navy will start escorting Iranian commercial ships in the Red Sea as it prepares for an Israeli attack on its territory or allies. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND\u0650- Some oil traders are wagering that crude will be trading at USD 250 a barrel by<\/strong><strong> June<\/strong>, as risks of a wider regional war continue to grow, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-16\/oil-traders-wager-on-250-price-by-june-as-war-risk-escalates?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. Despite the hype in some trading circles, Brent was trading ending the day 3.0% lower at USD 87.29 a barrel when markets closed yesterday. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Ceasefire talks on Gaza <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/qatar-says-gaza-ceasefire-talks-delicate-phase-2024-04-17\/\" style=\"\" rel=\"noopener\">seem as stalled as ever<\/a><\/strong> (Egypt and Qatar are mediating the negotiations) and Iran-backed <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/hezbollah-launches-missiles-drones-northern-israel-wounding-14-israeli-soldiers-2024-04-17\/\" style=\"\" rel=\"noopener\">Hezbollah wounded 14 Israeli soldiers<\/a> in a drone and missile attack yesterday in retaliation for Israeli attacks that killed Hezbollah troops.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WHILE ON THE DIPLOMATIC HOMEFRONT- Israel\u2019s \u201coutrageous use of military force\u201d on<\/strong><strong> Gaza represents a \u201cwatershed moment\u201d<\/strong> in the region\u2019s history, President Abdel Fattah El Sisi said during a joint <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02DX3PUZzi1aRRXRNLAxGrh4WPW5FD6xWrd6nGXNtmvGWXRuNxDoWkfXMEhYEcoY61l\" style=\"\" rel=\"noopener\">press conference<\/a> in Cairo with Bahraini King Hamad bin Isa Al-Khalifa.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: The UN General Security Council will <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/un-security-council-vote-friday-palestinian-un-membership-2024-04-17\/\" style=\"\" rel=\"noopener\">vote tomorrow<\/a><\/strong><strong> on a Palestinian <\/strong><strong>request for full membership <\/strong>in the world body. A \u201cyes\u201d vote would be tantamount to international recognition of Palestinian statehood, so expect a US veto. Palestinian President Mahmoud Abbas <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2024\/04\/17\/un-palestine-membership-biden\" style=\"\" rel=\"noopener\">reportedly snubbed a request from the Biden administration<\/a> to delay the request.<\/p><p class=\"tag-border-left\">IN THE BUSINESS PAGES-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Wall Street is tempering its expectations of a Fed rate cut this year<\/strong>, with most interpreting Jay Powell\u2019s remarks earlier this week as meaning the first change in rates won\u2019t come until September at the earliest. Bank of America economists, meanwhile, say there\u2019s a \u201creal risk\u201d the central bank won\u2019t cut rates until March 2025 \u201cat the earliest.\u201d <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/04\/17\/wall-street-pushes-out-rate-cut-expectations-sees-risk-of-no-action-until-2025.html\" style=\"\" rel=\"noopener\">CNBC<\/a> has a solid roundup of sentiment. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That comes as IMF boss Kristalina Giorgieva <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/imf-chief-warns-central-banks-against-cutting-too-soon-16033035\" style=\"\" rel=\"noopener\">warned overnight<\/a><\/strong><strong> that \u201ccentral banks should <\/strong><strong>resist the temptation to lower their key interest rates too early<\/strong> and risk a resurgence of inflation and a fresh bout of policy tightening.\u201d <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- US equities have now posted their longest losing streak so far this yea r<\/strong>after the S&amp;P 500 and the Nasdaq fell for a fourth day in a row. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ajlan-bros\/\">Ajlan &amp; Bros<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    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data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1171.png?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"\">Discover your dream getaway with our signature collection of vacation homes and let our expert<\/span><span> team craft your perfect holiday experience.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"618698\" 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=\"618698\">\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\">BUDGET WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/economy-to-grow-at-a-4-0-clip-in-preliminary-budget-report-for-fy-2024-25\/\">\r\n                            Egypt\u2019s Finance Ministry unveils preliminary budget report for FY 2024-25                        <\/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\/18\/economy-to-grow-at-a-4-0-clip-in-preliminary-budget-report-for-fy-2024-25\/\" target=\"_blank\">\n                    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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1228.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"618699\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/economy-to-grow-at-a-4-0-clip-in-preliminary-budget-report-for-fy-2024-25\/1228-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1228.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1228.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1228.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1228.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618698\" class=\"content-area-description single-story post-618698 post type-post status-publish format-standard has-post-thumbnail hentry category-budget-watch tag-budget-watch tag-economy tag-enterpriseam tag-finance-ministry tag-gdp tag-inflation tag-state-budget 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\/.94050e7f-409a-4fb7-811c-b480dfbcce75.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>More on <\/strong><strong>next fiscal year\u2019s budget:&nbsp;<\/strong>The Finance Ministry yesterday released its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1178.pdf\" style=\"\" rel=\"noopener\">preliminary<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1178.pdf\" style=\"\" rel=\"noopener\">budget report (pdf)<\/a> for fiscal year 2024-2025, giving us a peek into government\u2019s growth, inflation, deficit, and primary surplus targets for the year to come.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TL;DR: <\/strong>Growth projection slashed again to 4.0% | Inflation targets revised upwards to an average of 18.1% | Budget deficit to widen slightly by 0.1 percentage point to 7.3%. <\/p>\n<p class=\"tag-border-left\">GROWTH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Growth forecast for the next fiscal year down:<\/strong> The Madbouly government now sees the economy growing at a 4.0%clip in the coming fiscal year, down from the 4.1% penciled in for the current fiscal year and from the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1bd53619-0a0c-4348-81f9-766539179c3c\/gov%25e2%2580%2599t-unveils-new-economic-and-social-development-targets-for-the-next-fiscal-year\" style=\"\" rel=\"noopener\">4.2% projection<\/a> the government made in March. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is less optimistic than the IMF and World Bank\u2019s latest predictions this week<\/strong>, even after the IMF <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/292b8067-3a67-43fc-bbef-17c9907521e8\/imf-holds-its%253cmark%253e-growth%253c%2Fmark%253e-forecast-steady-for-egypt-for-the-current-fiscal-year\" style=\"\" rel=\"noopener\">dampened its expectations<\/a> of growth for FY 2024-25 to 4.4% in its updated World Economic Outlook, down by 0.3 percentage points from its last projection in January. The World Bank also has a more optimistic outlook in its forecasts this week and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b9e5252-4c7e-4b34-808c-fb4aa5ef7989\/world-bank-cuts-egypt%25e2%2580%2599s-gdp-growth-for-fy-2023%2F24-to-2.8%2525\" style=\"\" rel=\"noopener\">expects<\/a> the country\u2019s economic growth to pick up to 4.2% in the next fiscal year.<\/p>\n<p class=\"tag-border-left\">INFLATION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Less ambitious inflation targets:<\/strong> The government now sees annual headline inflation ending FY 2024-25 at an average of 18.1%. The government blamed \u201cincreasing prices of food, fuel, and intermediate goods, and supply chain disruptions.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the new targets are still more ambitious than the IMF\u2019s forecast<\/strong>, which penciled in inflation reaching an average of 25.7% during the same period.<\/p>\n<p class=\"tag-border-left\">THE DEFICIT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Budget deficit to widen next year, but less than originally thought:<\/strong> The government now sees the budget deficit finishing the next fiscal year at 7.3% from 7.0% this year and 6.0% the year before. The government\u2019s January <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d582677-df84-4c57-8702-2e53adf7b4e9\/a-sneak-peek-of-next-fiscal-year%25e2%2580%2599s-budget\" style=\"\" rel=\"noopener\">forecast<\/a> had initially penciled in a more optimistic 7.2% for the next fiscal year and a more pessimistic 7.5% for the current fiscal year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The primary surplus <\/strong>is expected to jump 1.0 percentage point next year to 3.5%, up from the2.5% that was estimated in January. The government\u2019s forecast of 2.5% for the current fiscal year remains unchanged.<\/p>\n<p class=\"tag-border-left\">MONEY IN, MONEY OUT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another good year for the taxman ahead:<\/strong> Revenues are expected to rise by 22.6% to some EGP 2.6 tn in the upcoming fiscal year, up from a projected EGP 2.1 tn this year. Tax revenues will make up 77.0% of that sum, coming in at EGP 2.02 tn \u2014 up 32.2% y-o-y. Non-tax revenues are expected to inch down 1.5% to some EGP 604 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Spending inches closer to EGP 4 tn mark: <\/strong>Spending for the upcoming fiscal year is projected to increase by 29.4% to EGP 3.9 tn, with most of the spending allocations will go towards interest payments, social support, and investments. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also worth noting: <\/strong><\/p>\n<ul>\n<li><strong>Yields to rise: <\/strong>The average yield offered on government bills and bonds is expected to jump to 25.0% in the next fiscal year, up from an estimated 18.5% this year, which the report attributed to central banks across the globe tightening their monetary policy.<\/li>\n<\/ul>\n<ul>\n<li>The government sees <strong>Brent crude prices&nbsp;<\/strong><strong>averaging US<\/strong><strong>D 82 per <\/strong><strong>barrel <\/strong>from July 2024 through to June 2025. This is up from USD 80 per barrel this fiscal year.<\/li>\n<li><strong>Wheat prices<\/strong> are expected to ease, with US wheat averaging USD 280 per ton over the12-month period. This is down from USD 340 a ton this fiscal year and USD 424 a ton in FY 2022-2023, which saw global prices surge on the back of the disruption caused by the war in Ukraine.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where does the budget currently stand? <\/strong>Finance Minister Mohamed Maait and Planning Minister Hala El Said <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1116b868-eeae-44f9-a0f4-26889948314f\/alexbank%25e2%2580%2599s-net-income-rises-76%2525-y-o-y-to-egp-5-bn-in-2023.-plus:-next-fiscal-year%25e2%2580%2599s-draft%253cmark%253e-budget%253c%2Fmark%253e-goes-up-for-discussion-in-the-house-next-week\" style=\"\" rel=\"noopener\">will discuss the draft state budget<\/a> and socioeconomic development plan for FY 2024-25 in the House next Sunday. The state budget and development plan will be voted on before the start of the next fiscal year on 1 July. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/budget-watch\/\">budget watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/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\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-budget\/\">state budget<\/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=\"618700\" 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=\"618700\">\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\">Real estate<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/palm-hills-partners-with-cleopatra-group-to-develop-north-coast-project\/\">\r\n                            Palm Hills partners with Cleopatra Group to develop North Coast project                        <\/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\/18\/palm-hills-partners-with-cleopatra-group-to-develop-north-coast-project\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The project is expected to generate over EGP 100 bn in revenues within seven years, the sources said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who does what?<\/strong> PHD will undertake the development of the project in return for a 67% cut of the revenues, while Cleopatra Group will provide the land for the rest of the revenues. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Part of a larger investment strategy: <\/strong>PHD wants to invest up to EGP 9.5 bn in its projects over 2024, a 50% y-o-y increase. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not even summer and the North Coast is hot (with investment):<\/strong> In February, the Madbouly government inked a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/57ba0d74-d634-4de2-88d1-58fdf4f52198\/looking-back-at-the-months-preceded-the-egp-float\" style=\"\" rel=\"noopener\">USD 35 bn agreement<\/a> with ADQ, giving the Abu Dhabi wealth fund and longtime investor in Egypt the development rights to Ras El Hekma on the North Coast. Emirati businessman and CEO of Al Habtoor Group Khalaf Al Habtoor <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/19535295-f3ce-4f73-9347-5b5405ccf4a7\/more-emirati-investments-coming-for-the%253cmark%253e-north%253c%2Fmark%253e%253cmark%253e-coast%253c%2Fmark%253e%3F\" style=\"\" rel=\"noopener\">told Ala Mas\u2019ouleety<\/a> that he is looking to invest in the North Coast and voiced his admiration for the region, while real estate developer Redcon Properties has said it is looking into setting up <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fce4ee86-bb56-4a6e-8850-e5155547ad68\/redcon-properties-inks-egp-925-mn-syndicated-factoring-agreement\" style=\"\" rel=\"noopener\">sustainable residential complexes<\/a> in the coastal area. Egyptian real estate developer Al Ahly Sabbour has also expressed its interest with plans to purchase 1k feddans in the Ras El Hekma project for an urban and tourism project, chairman Ahmed Sabbour told <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/5et9yaf4\" style=\"\" rel=\"noopener\">Al Arabiya Business<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/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=\"618702\" 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=\"618702\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/beltones-vc-arm-partners-with-ci-vc-to-manage-a-usd-30-mn-startup-fund\/\">\r\n                            Beltone\u2019s VC arm partners with CI VC to manage a USD 30 mn startup fund                        <\/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 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   <\/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\/18\/beltones-vc-arm-partners-with-ci-vc-to-manage-a-usd-30-mn-startup-fund\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1175.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"618703\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/beltones-vc-arm-partners-with-ci-vc-to-manage-a-usd-30-mn-startup-fund\/1175-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1175.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1175.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1175.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1175.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618702\" class=\"content-area-description single-story post-618702 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-beltone-financial tag-beltone-venture-capital tag-enterpriseam tag-startup-watch tag-startups 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\/.05f307c4-ea28-4539-9108-9ac470301120.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Beltone\u2019s VC arm to manage Citadel Holding\u2019s startup fund: <\/strong>Beltone Venture Capital\u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7fc94bfc-608b-48b6-a28b-cfa610c0f024\/%253cmark%253ebeltone%253c%2Fmark%253e%25e2%2580%2599s-got-cash,-launches-vc-arm\" style=\"\" rel=\"noopener\">Beltone Financial Holding\u2019s venture capital arm<\/a> \u2014 has partnered with the UAE\u2019s Citadel International Holdings\u2019 CI Venture Capital to manage a USD 30 mn fund that will back fast-growing startups in the MENA region, Beltone said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1159.pdf\" style=\"\" rel=\"noopener\">press release (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1159.pdf\" style=\"\" rel=\"noopener\">pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1159.pdf\" style=\"\" rel=\"noopener\">)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fund has invested in a number of familiar names: <\/strong>The fund has already deployed funds in a number of startups across the region, including local courier startup Bosta, trucking startup Trella, homeware brand Ariika, and UAE-headquartered fintech Qlub.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It will target early-stage startups: <\/strong>The fund will mostly invest in pre-seed and seed funding rounds, and will then support the \u201cbest-performing portfolio companies in follow-up rounds,\u201d Beltone Venture Capital CEO Ali Mokhtar said. It will also take part in \u201cattractive\u201d investments at different funding stages, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cThe fund is a continuation of the same strategy Beltone Venture Capital hasbeen executing since its inception in 2023. This is aligned with our fundamental principle of acting as founders\u2019 partners and value investors, supporting startups' scale-up and reaching their full potential,\u201d Mokhtar said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone-financial\/\">Beltone Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone-venture-capital\/\">Beltone Venture Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"618704 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=\"618704\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/618704\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618704\" class=\"content-area-description single-story post-618704 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.grantthornton.global\/en\/locations\/Egypt\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/674.png?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"618705\" 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=\"618705\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/b-investments-to-become-orascom-financial-holdings-majority-owner-after-shareholders-respond-to-offer\/\">\r\n                            B Investments to become Orascom Financial Holding\u2019s majority owner after shareholders respond to offer                        <\/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\/18\/b-investments-to-become-orascom-financial-holdings-majority-owner-after-shareholders-respond-to-offer\/\" 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\/18\/b-investments-to-become-orascom-financial-holdings-majority-owner-after-shareholders-respond-to-offer\/')\">\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\/18\/b-investments-to-become-orascom-financial-holdings-majority-owner-after-shareholders-respond-to-offer\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=B Investments to become Orascom Financial Holding\u2019s majority owner after shareholders respond to offer&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/b-investments-to-become-orascom-financial-holdings-majority-owner-after-shareholders-respond-to-offer\/\">\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\/18\/b-investments-to-become-orascom-financial-holdings-majority-owner-after-shareholders-respond-to-offer\/&title=B Investments to become Orascom Financial Holding\u2019s majority owner after shareholders respond to offer\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=B+Investments+to+become+Orascom+Financial+Holding%E2%80%99s+majority+owner+after+shareholders+respond+to+offer+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F04%2F18%2Fb-investments-to-become-orascom-financial-holdings-majority-owner-after-shareholders-respond-to-offer%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\/18\/b-investments-to-become-orascom-financial-holdings-majority-owner-after-shareholders-respond-to-offer\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1224.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"618706\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/b-investments-to-become-orascom-financial-holdings-majority-owner-after-shareholders-respond-to-offer\/1224-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1224.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1224.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1224.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1224.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618705\" class=\"content-area-description single-story post-618705 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-b-investments tag-enterpriseam tag-ma-watch tag-orascom-financial-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.ca404016-5e39-421e-956f-74eaf269d858.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>B Investments is one step closer to snapping up a majority stake in OFH:<\/strong> Orascom Financial Holding (OFH) shareholders have responded to private equity firm B Investments\u2019 MTO for a majority stake in the company. Owners of some 3.3 bn shares \u2014 a 69% stake in the company \u2014 have responded to the offer, according to two EGX bulletins (<a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1209.jpg\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1210.jpg\" style=\"\" rel=\"noopener\">here<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The stake is in the <\/strong><strong>mid-range<\/strong><strong> of what B Investments was shooting for:<\/strong> B Investments wanted to acquire up to 90% of OFH and no less than 51% of the company \u2014 since the stake on offer is greater than the acceptance threshold, the acquisition process will go through.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> The EGX last week <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/04\/08\/1782101\" style=\"\" rel=\"noopener\">extended<\/a> the MTO for OFH because of the Eid Al Fitr break and shareholders had until the end of yesterday\u2019s trading session to respond to the offer. The Financial Regulatory Authority last month <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/116a2c54-e0f8-48c8-8ab7-dcd66b0aeffe\/b-investments-granted-more-time-to-submit%253cmark%253e-mto%253c%2Fmark%253e-for-ofh.-plus:-agthia-ups-stake-in-abu-auf,-basata-acquires-jordanian-fintech-stake\" style=\"\" rel=\"noopener\">pushed the deadline<\/a> to 15 April.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>B Investments will now need to complete the share swap \u2014 its board had agreed in December to a share swap ratio of one B Investments share to 56.76 OFH shares. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s been a long time coming:<\/strong> B Investments had approved a plan to submit the MTO back in June, but requested a deadline extension in September. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/b-investments\/\">B Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-financial-holding\/\">Orascom Financial Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"618707\" 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=\"618707\">\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\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/gb-auto-steps-into-jordanian-market-with-mg-distribution-jv\/\">\r\n                            GB Auto steps into Jordanian market with MG distribution JV                        <\/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\/18\/gb-auto-steps-into-jordanian-market-with-mg-distribution-jv\/\" 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\/18\/gb-auto-steps-into-jordanian-market-with-mg-distribution-jv\/')\">\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\/18\/gb-auto-steps-into-jordanian-market-with-mg-distribution-jv\/\">\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=GB Auto steps into Jordanian market with MG distribution JV&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/gb-auto-steps-into-jordanian-market-with-mg-distribution-jv\/\">\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\/18\/gb-auto-steps-into-jordanian-market-with-mg-distribution-jv\/&title=GB Auto steps into Jordanian market with MG distribution JV\">\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=GB+Auto+steps+into+Jordanian+market+with+MG+distribution+JV+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F04%2F18%2Fgb-auto-steps-into-jordanian-market-with-mg-distribution-jv%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\/18\/gb-auto-steps-into-jordanian-market-with-mg-distribution-jv\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1264.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"618708\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/gb-auto-steps-into-jordanian-market-with-mg-distribution-jv\/1264-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1264.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1264.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1264.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1264.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618707\" class=\"content-area-description single-story post-618707 post type-post status-publish format-standard has-post-thumbnail hentry category-automotive tag-automotive tag-enterpriseam tag-gb-auto tag-gb-corp tag-jordan 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\/.0316fc16-4522-4829-8c76-75c11809c2fd.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>GB Auto to distribute MG cars in Jordan:<\/strong> GB Corp\u2019s automotive arm <a target=\"_blank\" href=\"https:\/\/gb-corporation.com\/gb-auto\/\" style=\"\" rel=\"noopener\">GB Auto<\/a> and <a target=\"_blank\" href=\"https:\/\/www.mgmotor.jo\/\" style=\"\" rel=\"noopener\">MG Motor Jordan<\/a> \u2014 the former distributor of the Chinese-owned automotive brand in Jordan \u2014 have launched a JV to take over the management of the MG Motor dealership in the country, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1225.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from GB Corp. The move is part of GB Corp\u2019s efforts to expand across the region. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The JV \u2014 dubbed GKS \u2014 will be the exclusive distributor of MG passenger cars in Jordan. \u201cThe new JV will have all the needed resources to quickly grow the MG Motor brand in Jordan, focusing on both, an elevated brand experience and market share, through the sales and aftersales superior offerings and competitiveness,\u201d the statement said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not the company\u2019s first MG gig in the region: <\/strong>GB Auto has been distributing MG vehicles in Iraq after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d76f53a8-59c7-4974-ad54-1dacb783a523\/%253cmark%253egb%253c%2Fmark%253e%253cmark%253e-auto%253c%2Fmark%253e-awarded-distributorship-for%253cmark%253e-mg%253c%2Fmark%253e%253cmark%253e-in%253c%2Fmark%253e%253cmark%253e-iraq%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">entering a partnership<\/a> with China\u2019s state-owned SAIC Motor \u2014 the parent company of MG Motor \u2014 in 2020.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cGB Auto remains committed to its strategic vision, maintaining market leadership and fostering long-term growth through prudent regional activities. The integration of the MG brand in Jordan into our portfolio marks a significant milestone, reaffirming our position as a pivotal player in the automotive sector,\u201d GB Corp\u2019s IR head Marina Kamal told Enterprise.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-auto\/\">GB Auto<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-corp\/\">GB Corp<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jordan\/\">Jordan<\/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=\"618709\" 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=\"618709\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/the-potcast-productions-company-secures-financing-round\/\">\r\n                            Egypt\u2019s Potcast Productions Company secures financing round                        <\/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\/18\/the-potcast-productions-company-secures-financing-round\/\" 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-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1258.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1258.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1258.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618709\" class=\"content-area-description single-story post-618709 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam tag-startup-watch tag-startups 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\/.cf861d1c-8e93-4299-bf2a-40abec2d41b4.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Potcast Productions concludes early financing round:<\/strong> Local podcast production startup <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/thepotcastproductions\/about\/\" style=\"\" rel=\"noopener\">The Potcast Productions Company<\/a> (TPP) has concluded an early financing round that will enable its regional expansion, beginning with Saudi Arabia and the UAE, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1164.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TPP secured the funding through Shark Tank Egypt\u2019s second season<\/strong>, where the company\u2019s founders pitched their startup and Dina Ghabbour (<a target=\"_blank\" href=\"https:\/\/creativeindmena.com\/speaker\/dina-gahbbour\/\" style=\"\" rel=\"noopener\">bio<\/a>) \u2014 one of the investors on the show \u2014 offered them EGP 6 mn in funding in return for a 20% stake in the company (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=0dOX_Lh7C2k&amp;t=1692s\" style=\"\" rel=\"noopener\">watch, runtime: 29:05<\/a>). The statement didn\u2019t disclose the final details of the agreement, the value and stake sold and company representatives refused to share the details when Enterprise reached out yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What TPP does: <\/strong>The company has so far created 15 different podcast programs that span across a number of genres including comedy, crime, mental health, and news. It also offers marketing services for content creators to help them generate higher earnings.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cThe podcast industry is experiencing significant growth as a versatile platform for education and entertainment, attracting a global audience with its content \u2014 thanks to its rapid expansion on both a global and regional scale,\u201d CEO Islam Adel said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"618711 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"618711\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/618711\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618711\" class=\"content-area-description single-story post-618711 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/186.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"618712\" 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=\"618712\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/the-strengthening-of-the-greenback-against-the-egp-caught-the-attention-of-the-nations-talking-heads\/\">\r\n                            The strengthening of the greenback against the EGP caught the attention of the nation\u2019s talking heads                        <\/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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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/the-strengthening-of-the-greenback-against-the-egp-caught-the-attention-of-the-nations-talking-heads\/1261-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1261.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1261.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1261.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1261.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618712\" class=\"content-area-description single-story post-618712 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-egp tag-enterpriseam tag-exchange-rate tag-foreign-exchange tag-last-nights-talk-shows wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.03fb3615-37d7-4fa5-82cd-57084bd14e92.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It was all about the green for some of the nation\u2019s talking heads<\/strong>, with the weakening of the EGP to 48.55 against the greenback in the banks as of yesterday being a hot topic of conversation on the airwaves last night.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why the USD has gotten pricier recently: <\/strong>\u201cDeferred demand for hard currency\u201d after the Eid Al Fitr holiday has contributed to a rise in the price of the USD over the past three days, economist Mostafa Badra phoned in to tell Sherif Amer on Yahduth Fi Masr (watch, runtime: <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1928129354250428\" style=\"\" rel=\"noopener\">3:49<\/a> and <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=7395797227173197\" style=\"\" rel=\"noopener\">3:23<\/a>). \u201cThe longer the vacation period, the greater the demand for USD,\u201d Badra added. Escalating tensions between Iran and Israel also contributed to the change, Badra said, noting the \u201cexit of some foreign investments from the market\" as a result of the conflict.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What this spells for consumer prices:<\/strong> \u201cMerchants will not reduce the prices of goods due to the rise in the USD exchange rate,\" Badra explained. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Elsewhere, the focus was on the price of non-subsidized bread: <\/strong>The bakeries division of the General Federation of Chambers of Commerce has submitted a proposal to Supply Minister Ali El Moselhy to cut prices of non-subsidized bread on the back of a decline by up to 35% in local flour prices, Iman El Hosary said on Masaa DMC (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=aDgCDY7qo8Y\" style=\"\" rel=\"noopener\">watch, runtime: 4:38<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> El Moselhy and Prime Minister Mostafa Madbouly will hold a meeting with the chairman of the Chamber of Cereals Industry and the head of the bakeries division to discuss the prices of non-subsidized bread today to iron out details of the new pricing system, \u201cwhich will be binding on bakeries across the country,\u201d Supply Ministry spokesperson Ahmed Kamal told El Hosary. A newly formed committee will meet on a monthly basis to follow up on prices and the cost of production, he added. The Supply Ministry will share the new prices and weights of unsubsidized bread next week in response to local flour prices falling up to 35% on the back of fresh FX inflows, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/msitgovegypt\/posts\/pfbid02tMHHcxFjwLYRWrpNfUK1xoHueh6qUFkvkpUWLymTc9zaKKU1yt3AjUuJCFs5Mh7Kl?locale=ar_AR\" style=\"\" rel=\"noopener\">ministry statement<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egp\/\">EGP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/exchange-rate\/\">exchange rate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-j09k6vt\" data-v=\"4\" data-block-id=\"j09k6vt\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-j09k6vt-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-j09k6vt-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path 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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=\"618715\" 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=\"618715\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/our-olympic-dreams-under-the-spotlight\/\">\r\n                            Egypt\u2019s Olympic dreams under the spotlight                        <\/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\/18\/our-olympic-dreams-under-the-spotlight\/\" 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\/18\/our-olympic-dreams-under-the-spotlight\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n  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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/our-olympic-dreams-under-the-spotlight\/&title=Our Olympic dreams under the spotlight\">\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=Our+Olympic+dreams+under+the+spotlight+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F04%2F18%2Four-olympic-dreams-under-the-spotlight%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\/18\/our-olympic-dreams-under-the-spotlight\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1170.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"618716\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/our-olympic-dreams-under-the-spotlight\/1170-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1170.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1170.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1170.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1170.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618715\" class=\"content-area-description single-story post-618715 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-enterpriseam tag-sports 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\/.dcdf766f-6999-47ed-8e15-013abd4186f7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The BBC explores Egypt\u2019s 2036 Olympics bid:&nbsp;<\/strong>\u201cEgypt is ready now,\u201d the National Olympic Committee (NOC) Secretary General Sharif El Erian told the <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/sport\/africa\/68817809\" style=\"\" rel=\"noopener\">BBC<\/a>. A successful bid would make Egypt the first country in Africa to host the games, yet the \u201csheer scale and cost\u201d of hosting the games and convincing the International Olympic Committee\u2019s (IOC) board presents a challenge to bidding nations, writes the beeb. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This isn\u2019t Egypt\u2019s first rodeo: <\/strong>Following three failed Olympic bids, Egypt has spent the past seven or eight years developing the main support infrastructure to make it better qualified to host the games, which includes the new capital\u2019s 92-acre Olympic City, El Erian said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re some of the most qualified in the continent: <\/strong>\u201cIf you want me to pick three countries who are the best when it comes to facilities in Africa, I can pick easily: Egypt, South Africa and Morocco. The rest have no chance,\u201d El Erian told the BBC. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Dive deeper: <\/strong>We took a look at how the Madbouly government is looking to the private sector to develop our sports infrastructure ahead of our planned Olympics bid in a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b779ae3d-37b2-4b85-a53a-3ea973ee9ad2\/gov%25e2%2580%2599t-looks-to-private-sector-for-infrastructure-ahead-of-planned-olympics-bid\" style=\"\" rel=\"noopener\">Hardhat<\/a> last year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/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=\"618717\" 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=\"618717\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/post-for-investment-sees-revenue-and-income-jump-over-30-y-o-y-in-2023-plus-national-bank-of-egypt-subsidiary-to-set-up-countrys-third-gold-fund\/\">\r\n                            Post for Investment sees revenue and income jump over 30% y-o-y in 2023                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/post-for-investment-sees-revenue-and-income-jump-over-30-y-o-y-in-2023-plus-national-bank-of-egypt-subsidiary-to-set-up-countrys-third-gold-fund\/\" 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\/18\/post-for-investment-sees-revenue-and-income-jump-over-30-y-o-y-in-2023-plus-national-bank-of-egypt-subsidiary-to-set-up-countrys-third-gold-fund\/')\">\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\/18\/post-for-investment-sees-revenue-and-income-jump-over-30-y-o-y-in-2023-plus-national-bank-of-egypt-subsidiary-to-set-up-countrys-third-gold-fund\/\">\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=Post for Investment sees revenue and income jump over 30% y-o-y in 2023. PLUS: National Bank of Egypt subsidiary to set up country\u2019s third gold fund&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/post-for-investment-sees-revenue-and-income-jump-over-30-y-o-y-in-2023-plus-national-bank-of-egypt-subsidiary-to-set-up-countrys-third-gold-fund\/\">\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\/18\/post-for-investment-sees-revenue-and-income-jump-over-30-y-o-y-in-2023-plus-national-bank-of-egypt-subsidiary-to-set-up-countrys-third-gold-fund\/&title=Post for Investment sees revenue and income jump over 30% y-o-y in 2023. PLUS: National Bank of Egypt subsidiary to set up country\u2019s third gold fund\">\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=Post+for+Investment+sees+revenue+and+income+jump+over+30%25+y-o-y+in+2023.+PLUS%3A+National+Bank+of+Egypt+subsidiary+to+set+up+country%E2%80%99s+third+gold+fund+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F04%2F18%2Fpost-for-investment-sees-revenue-and-income-jump-over-30-y-o-y-in-2023-plus-national-bank-of-egypt-subsidiary-to-set-up-countrys-third-gold-fund%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\/18\/post-for-investment-sees-revenue-and-income-jump-over-30-y-o-y-in-2023-plus-national-bank-of-egypt-subsidiary-to-set-up-countrys-third-gold-fund\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1055.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"618718\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/post-for-investment-sees-revenue-and-income-jump-over-30-y-o-y-in-2023-plus-national-bank-of-egypt-subsidiary-to-set-up-countrys-third-gold-fund\/1055-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1055.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1055.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1055.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1055.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618717\" class=\"content-area-description single-story post-618717 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-azimut-group tag-capital-markets tag-earnings-watch tag-egypt-post tag-enterpriseam tag-gold tag-post-for-investment 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\/.d0be1dd4-66dd-4910-8f4a-1702720c6637.mp3\"><\/audio><\/figure>\n<p class=\"tag-border-left\">EARNINGS WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Post for Investment sees top and bottom line grow over 30% y-o-y in 2023:<\/strong> Post for Investment saw its net income climb 32.4% y-o-y to EGP 664 mn in 2023, while its topline climbed by 30.7% y-o-y to EGP 1.1 bn during the same period thanks to strong performance of its portfolio companies, according to its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1220.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. <\/p>\n<p class=\"tag-border-left\">CAPITAL MARKETS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another gold investment fund is on the way:<\/strong> A subsidiary of the National Bank of Egypt is applying to set up a gold investment fund in Egypt, according to the FRA Chairman Mohamed Faird in a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid026c8ZmLix8P3AkjTV6B8vzHohtkF8v8YKGR4rK6uVLd1cii6emYkVbHaxCdvdAcvZl\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. This would make for the third gold investment fund in the country, after Beltone Securities Holding and Evolve Holding launched Beltone Evolve Gold in January and Azimut and Evolve Holding launched the country\u2019s first ever gold fund in May last year under the name AZ Gold. Around 103k individuals have so far invested in the two existing funds, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SPEAKING OF GOLD- Egypt will host the first World Gold Council conference: <\/strong>Evolve Holding will host the first edition of the World Gold Council under the title Gold As An Asset Class and Financial Instrument in Egypt next Monday at the Marriott in Zamalek, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1271.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/azimut-group\/\">Azimut Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-post\/\">Egypt Post<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gold\/\">gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/post-for-investment\/\">Post for Investment<\/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=\"618719\" 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=\"618719\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/deficits-in-the-us-china-will-hurt-global-economy\/\">\r\n                            Deficits in the US, China will hurt global economy                        <\/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\/18\/deficits-in-the-us-china-will-hurt-global-economy\/\" 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 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data-attachment-id=\"618720\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/deficits-in-the-us-china-will-hurt-global-economy\/1245-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1245.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1245.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1245.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1245.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618719\" class=\"content-area-description single-story post-618719 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-china tag-debt tag-enterpriseam tag-financial-markets tag-fiscal-policy tag-planet-finance tag-us 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\/.d3cf44c2-6b0d-4471-beae-1c92cb09b13b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Careful now, big spenders<\/strong><strong>: <\/strong>The US and China need to implement policies to address the imbalance between spending and revenues, which is adding to inflationary pressures and posing significant risks to the global economy, the IMF has warned in its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1241.pdf\" style=\"\" rel=\"noopener\">Fiscal Monitor (pdf)<\/a> out yesterday. Rampant spending from the world\u2019s two largest economies could \u201chave profound effects for the global economy and pose significant risks for baseline fiscal projections in other economies,\u201d the Fund said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How bad is it?<\/strong> The US will record a fiscal deficit of 7.1% in 2025, over three times the 2% average clocked in by other advanced economies, while China will record a deficit over twice the average of other EMs with 7.6%, the IMF said. The shortfall comes as both countries look set to face challenges ahead, with China dealing with weak domestic demand and a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f6aebd11-0b16-4f0a-809e-e588163a8434\/hong-kong-court-calls-for-the-liquidation-of-evergrande\" style=\"\" rel=\"noopener\">real estate crisis<\/a> and the US entering a key year for fiscal policy in an election year that will see candidates pledging further tax cuts and increased state spending.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When the US spends, EMs pay:<\/strong> \u201cLarge and sudden increases\u201d in US borrowing costs will likely send global government bond yields soaring and exchange rates into murky waters in emerging markets and developing economies, the IMF said. \u201cA 1 percentage point spike in US rates results in a 90 basis point rise in other advanced economies and an increase in EMs of 1 percentage point,\u201d according to the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0d098011-0ff5-4125-8cbb-5a5b281c9bd0\" style=\"\" rel=\"noopener\">Financial Times<\/a>.<\/p><p class=\"tag-border-left\">THE MARKETS THIS MORNING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are little changed in early trading this morning <\/strong>after Wall Street posted on Wednesday its first four-day string of losing days since the start of the year. The Kospi is the sole standout, up a bit more than 1.4% at dispatch time this morning. European and US equities futures were mostly unchanged overnight. <\/p><p><a target=\"_blank\" id=\"t.92f65289058a3c5cbe1ea2d72571f6c5b044ecbe\" 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-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">29,668<\/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\">+0.9% (YTD: +19.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 48.44<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.58<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 48.45<\/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 48.55<\/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\">12,466<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +4.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,165<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: -4.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,173<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +2.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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\">5,022<\/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: +5.3%)<\/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>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\">7,848<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +1.5%)<\/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>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\">4,914<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +8.7%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 87.29<\/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\">-3.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 1.72<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,380.80<\/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-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 61,260.80<\/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\">-4.3% (YTD: +44.9%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 0.9% at yesterday\u2019s close<\/strong> on turnover of EGP 4.8 bn (4.2% below the 90-day average). Foreign investors were net sellers. The index is up 19.2% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Orascom Development Egypt (+5.7%), Palm Hills Developments (+5.2%) and Elsewedy Electric (+3.6%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Abu Qir Fertilizers (-1.8%), Abu Dhabi Islamic Bank (-1.7%) and Edita (-0.9%).<\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fiscal-policy\/\">fiscal policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/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=\"618721\" 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=\"618721\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/my-morning-routine-ankush-arora-ceo-of-al-mansour-automotive\/\">\r\n                            My Morning Routine: Ankush Arora, CEO of Al Mansour Automotive                        <\/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\/18\/my-morning-routine-ankush-arora-ceo-of-al-mansour-automotive\/\" 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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Speaking to us this week is Ankush Arora (<a target=\"_blank\" href=\"https:\/\/eg.linkedin.com\/in\/ankush-arora-19b27077\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), CEO of <a target=\"_blank\" href=\"https:\/\/almansour.com.eg\" style=\"\" rel=\"noopener\">Al Mansour Automotive<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My name is Ankush Arora and I\u2019m the CEO of Al Mansour Automotive. <\/strong>I\u2019ve been in the automotive industry for over 32 years and my work has taken me to many different countries around the world. I hail from India and I've been living in Egypt for ten years, so I\u2019m kind of a global citizen. I\u2019d say I\u2019m a pretty down to earth guy who loves life and family, and always likes to build new relationships.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Mansour Automotive has a longstanding history and a very strong foundation in Egypt<\/strong>\u2014 we're nearing our 50th anniversary. We\u2019re the leading automotive distribution company in the country and arguably in the MENA region. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My current role as CEO boils down to two things.<\/strong> The first is to look at how we can grow and expand the business and think outside of the box. The second is to manage people and bring the best out of the team. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I'm a morning person. My day starts at 4 am every day.<\/strong> I'm usually up and ready by 4:30 am, and I'm on calls with China and Japan where it's late morning for them. Then, I\u2019ll focus on any of my strategic initiatives or things that need my complete attention until around 5:30 am because I believe that this is when your mind is at its best. I get down to the golf course for a 30 minute walk and a nine hole game, either by myself or with a friend. I'm done by 7:15 am, I\u2019ll head back home for a quick shower and breakfast \u2014 the most important meal of the day, for me \u2014 and then I\u2019m off to work at 8 am.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My working day is pretty organized <\/strong>and I have a set schedule, but I like to have free slots of time during the day. I have an open door policy at work, so if I don't have a scheduled meeting, my doors are open for the team to walk in, talk, share problems, or I call people in to have a chat.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The industry is changing: <\/strong>These changes are taking place because of big leaps in renewable energy, artificial intelligence, and telecoms. When you combine these three elements and put them in the context of the automotive industry, the disruption takes the form of electric vehicles, autonomous vehicles. The big challenge \u2014 and at the same time, the biggest potential \u2014 for us is to really get ourselves ready for the next 50 years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Today, vehicles are more like software on wheels than engines on wheels. <\/strong>The whole paradigm of how vehicles were manufactured before and how they're manufactured today is a completely different ball game. So, while before the ecosystem was typically made up of manufacturers, product developers, sellers or distributors, and of course consumers, you now have component developers, platform developers, battery developers, and that\u2019s a phenomenal change. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Consumers and their behavior and expectations are also changing. <\/strong>If you take Gen Z as an example, they want to be mobile. They\u2019re not bothered about owning a car or having a set of wheels under them. Their first priority is: how can I be mobile and how can I get from point A to point B in the fastest way? They don't want the headaches of parking, of maintaining a car, of renewing their license every year. So the whole paradigm of owning an automobile is changing and that's where the disruption is taking place.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How can we respond to this disruption? <\/strong>We are rejuvenating ourselves from a traditional automotive distributor to be a mobility solutions company, and there\u2019s a multi-pronged strategy that comes with that. One of the important elements is how to ensure that we offer all kinds of mobility solutions to our consumers, depending on their needs and desires. Whether customers want to follow a subscription model, or a leasing model, or own-to-lease, or share the lease with somebody\u2026 All those elements are now being put into play so that we are ready for the future. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I would say that my work-life balance on a scale of one to ten is probably a nine. <\/strong>My wife might not agree with that. But I do believe it's nine out of ten. If you asked me, say, ten years ago, I would say it was probably two out of ten. There was no work-life balance. As you progress in your professional life and with age, and you become a little more sensible, you find that sweet spot of having a work-life balance. In my downtime, I\u2019ll either watch a good movie or play some golf.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I don\u2019t disturb any of my team members after 7 pm. <\/strong>I would not call anybody on the weekend unless there really is a fire that we need to put out, so to speak, because I believe everybody needs their time and space with family or themselves. I encourage a work-life balance because I've gone through that mill of a rigorous corporate life, where you're traveling six days a week and on calls 16 hours a day. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I love real sto<\/strong><strong>ries and good autobiographies of business leaders. <\/strong><a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/en\/book\/show\/76865\" style=\"\" rel=\"noopener\">Good to Great<\/a> by Jim Collins is a great read. The autobiography of <a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/book\/show\/486319.Iacocca\" style=\"\" rel=\"noopener\">Ford\u2019s Lee Iacocca<\/a> is inspirational. Disney CEO Bob Iger\u2019s <a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/en\/book\/show\/44525305\" style=\"\" rel=\"noopener\">The Ride of a Lifetime<\/a> is another great one, and other than that I really like Jack AND Suzy Welch\u2019s <a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/book\/show\/23460965-the-real-life-mba\" style=\"\" rel=\"noopener\">The Real Life MBA<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The best pieces of advice that have been given to me were from my dad. <\/strong>He taught me that there are no shortcuts to achieve success, that integrity is non-negotiable, that respect is the most important virtue in life \u2014 be it of people, values, custom, or religion \u2014 and that you cannot achieve success on the shoulders of someone else.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ankush-arora\/\">Ankush Arora<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mansour-group\/\">Mansour Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/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=\"618723\" 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\/18\/618723\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618723\" class=\"content-area-description single-story post-618723 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;\">19-21 May (Sunday-Tuesday): Egypt International Summit for Digital Transformation and Cybersecurity.<\/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\n\t<\/div><!-- 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