{"id":618807,"date":"2024-04-21T00:00:00","date_gmt":"2024-04-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=618807"},"modified":"2025-12-17T05:15:16","modified_gmt":"2025-12-17T05:15:16","slug":"privatization-targets-slashed-to-usd-1-bn-for-2024","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/privatization-targets-slashed-to-usd-1-bn-for-2024\/","title":{"rendered":"Privatization targets slashed to USD 1 bn for 2024"},"content":{"rendered":"<section id=\"618809\" 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=\"618809\">\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\/21\/imf-wants-egypt-to-accelerate-pace-of-reform\/\">\r\n                            IMF wants Egypt to accelerate pace of reform                        <\/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\/21\/imf-wants-egypt-to-accelerate-pace-of-reform\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/21\/imf-wants-egypt-to-accelerate-pace-of-reform\/2615-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2615.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2615.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2615.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2615.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618809\" class=\"content-area-description single-story post-618809 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-economy tag-enterpriseam tag-jihad-azour tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.9592b418-e808-4d91-a20d-f3e6a85ec519.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends, and welcome to a holiday-shortened week<\/strong> as we prepare for the three-day weekend starting this Thursday in observance of Sinai Liberation Day. We have a busy issue for you this morning, so we\u2019re going to jump straight in.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT FIRST- Could padel emerge as the \u201cnext squash\u201d? <\/strong>It may be early days, but it\u2019s hard not to wonder after the men\u2019s national team surprised organizers with a very strong first-ever appearance at the <a target=\"_blank\" href=\"https:\/\/www.instagram.com\/padelfip\/\" style=\"\" rel=\"noopener\">FIP Seniors World Padel Championships 2024<\/a>, which wrapped up yesterday in Alicante, Spain. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our friend Helmy Ghazi distinguished himself as more than a banker\u2019s banker this <\/strong><strong>weekend<\/strong>, anchoring the +50 team. Longtime readers will also remember Helmy as our partner in crime in our most-read story ever: Our <a target=\"_blank\" href=\"https:\/\/enterprise.press\/issues\/2022\/10\/18\/am-a-five-step-recipe-to-boost-exports-fdi-and-make-sure-egypt-never-has-to-ask-the-imf-for-another-cent\/\" style=\"\" rel=\"noopener\">five-step recipe to boost exports + FDI (and make sure Egypt never has to ask the IMF for another cent<\/a>). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt finished in 20th place overall after a very tight 3-2 loss to Great Britain<\/strong> yesterday. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt was the first Arab country to appear in the Senior World Padel Championships<\/strong>, alongside Qatar. Egypt fielded men\u2019s teams in the +35, +40, +45, +50, and +55 age ranges after nationwide tryouts, and organizers tell us they hope to send both men\u2019s and women\u2019s teams to the championship in 2025. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Surprising nobody who follows the sport:<\/strong> Argentina and Spain faced off in every single men\u2019s final \u2014 while Spain and France made it to the finals of every women\u2019s age bracket.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The view from Alicante: <\/strong>\u201cWe were proud to step into the seniors padel World Cup \u2014 it\u2019s the beginning of a journey for our seniors team and was an amazing chance to show the world the spirit of Egyptian padel,\u201d Ahmed Ghatwary, president of the Egyptian and Arab Padel Federation, told us late yesterday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt is a world squash powerhouse <\/strong>because of a strong grass-roots program and consistent corporate support for the sport. It would be wonderful to see another racquet sport mentioned in the same breath.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover Saudi Arabia and the UAE?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">** <strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge. <\/p><p class=\"tag-border-left\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>It\u2019s another summery and dry day in Cairo today, with a high of 29\u00b0C and a low of 17\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a little cooler in Alexandria<\/strong>, with a high of 24\u00b0C and a low of 16\u00b0C.<\/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- The next stage for Egypt is t<\/strong><strong>o \u201c<\/strong><strong>to accelerate the pace of reform\u201d <\/strong><strong>by achieving four<\/strong><strong> goals<\/strong>, IMF Middle East and Central Asia head Jihad Azour told Asharq Business on the sidelines of the IMF and World Bank spring meetup in Washington (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=36-wYsESLyo\" style=\"\" rel=\"noopener\">watch, runtime: 15:51<\/a>).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The big four: <\/strong><\/p><ul>\n<li>The first of Azour\u2019s prescriptions was to <strong>reduce the risks to the Egyptian economy<\/strong>. \u201cThe flexibility of the exchange rate contributes to this matter,\u201d Azour explained. <\/li>\n<li>We also have to \u201creduce the burden on the Egyptian citizen\u201d by <strong>bringing down inflation<\/strong>. \u201cIntervention and tightening monetary policy are essential\u201d for this, the IMF\u2019s regional head added.<\/li>\n<li>Number three on Azour\u2019s list was \u201c<strong>raising the level of social protection<\/strong>.\u201d<\/li>\n<li>Last but not least was the all-too-familiar call to <strong>promote the private sector and job<\/strong><strong> creation.<\/strong><\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a><strong> #2- Lower non-subsidized bread prices fresh out of the oven: <\/strong>The price of non-subsidized bread will start falling starting today until it reaches normal levels, Prime Minister Mostafa Madbouly and the chief of the bakeries division of the General Federation of Chambers of Commerce Abdullah Ghorab <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0Mq6ePJrUd87Zfb4dgk6isnpQugip4pPxjxNaK3PivyxaGWUK4w8X8U2c68R8T5Udl\" style=\"\" rel=\"noopener\">said<\/a> during a presser last week. An 80 gram piece of unsubsidized bread will now be sold for EGP 1.5 and a 35 gram loaf of fino bread will now sell for EGP 1.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not just bread that is getting cheaper, say the government: <\/strong>Commodities in general are down 22% and basic commodities are down by about 27%, Madbouly added, without giving a time frame for his calculations. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The most up-to-date data on where food prices are going shows that food and beverage price inflation <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1893b899-8f26-4bd3-8c9c-232f2d8ee93c\/%253cmark%253einflation%253c%2Fmark%253e-eases-in-march-following-egp-float\" style=\"\" rel=\"noopener\">eased 5.9 percentage points<\/a> from the month before to 45.0% y-o-y in March. Analysts and policy makers will be eagerly awaiting inflation data for April out early next month, with cautious optimism that the end of Ramadan inflationary pressures on food and the first full month post-float could confirm that we\u2019re making serious headway on bringing food inflation down and slowly becoming the \u201cinflation targeting regime\u201d that the government and Fund have been working towards.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Importers, beware :<\/strong>The state has been seizing goods in ports that have not been claimed for over a month since 1 April, Madbouly said. This follows the government reinstating previously suspended regulations regarding unclaimed goods in ports, which were suspended for some time due to the lack of FX liquidity in the country preventing importers paying for their goods.<\/p><p class=\"tag-border-left\">IN THE HOUSE TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The House is in sessio<\/strong><strong>n:<\/strong> MPs will reconvene today through Tuesday to discuss next year\u2019s draft budget, the new Unified Ins. law, and potentially a new cabinet lineup.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1- We could see a ministerial reshuffle this week:<\/strong> Many MPs believe that a cabinet reshuffle is set to take place in a few days and they will be tasked with discussing and voting on the new team this week.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some think that Madbouly and some of the cabinet economic group have nothing to worry about: <\/strong>Well-connected MP and TV presenter Mostafa Bakry sees Prime Minister Mostafa Madbouly alongside a number of ministers of the cabinet economic group staying in their positions. The shuffle may include 15 ministries, according to Bakry (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=lVzwuAOcfxU\" style=\"\" rel=\"noopener\">watch, runtime: 3:30<\/a>).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- A new draft Unified Ins. law:<\/strong> The representatives will also discuss a new government-drafted Unified Ins. law today, which aims to draw up new and comprehensive rules for regulating the ins. industry and market and widen compulsory ins. Coverage.<\/p><p class=\"tag-border-left\">IN THE HOUSE TOMORROW- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Draft b<\/strong><strong>udget goes to the House: <\/strong>Finance Minister Mohamed Maait and Planning Minister Hala El Said will head to the House tomorrow to give statements on the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b22a5100-0c81-46fe-9ac3-c52f94b2719d\" style=\"\" rel=\"noopener\">draft state budget<\/a> and socioeconomic development plan for FY 2024-25. The state budget and development plan will be voted on before the start of the next fiscal year on 1 July. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know about the budget so far: <\/strong>In its preliminary budget report, the Finance Ministry cut growth projections to 4.0% and raised inflation targets to an average of 18.1%. It also sees the budget deficit widening by 0.1 percentage point to 7.3%.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want more? <\/strong>Read our full coverage of the preliminary budget report <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b22a5100-0c81-46fe-9ac3-c52f94b2719d\/egypt%25e2%2580%2599s-finance-ministry-unveils-preliminary-budget-report-for-fy-2024-25\" style=\"\" rel=\"noopener\">here<\/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\">CIRCLE YOUR CALENDAR- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#1- <\/strong><strong>A chance to hear how AI is reshaping business:<\/strong> The British Egyptian Business Association is hosting a panel discussion on the challenges and potential of AI with Communications Minister Amr Talaat offering the keynote address on Tuesday 23 April at the Conrad Cairo Hotel. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Taking to the stage for the panel discussion<\/strong> will be IBM Egypt General Manager Marwa Abbas, MP Sahar Al Bazar, British University in Egypt provost Guy Daly, Sequence Ventures CEO Mohamed Fahmy, and Falak Startups\u2019 head of venture growth Tarek Seif El Nasr, with by N Gage Consulting Chairman Karim Refaat as moderator. Find out more about how to register for the event <a target=\"_blank\" href=\"https:\/\/beba.org.eg\/events\/a-panel-discussion-entitled-the-new-era-of-artificial-intelligence-challenges-opportunities\/\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Prepare to turn your clocks an hour forward: <\/strong>Daylight saving time starts on Friday, 26 April. You\u2019ll be losing an hour\u2019s sleep as clocks jump forward one hour until the final Thursday of October.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>War and politics dominate the front pages of the global business press <\/strong>as the media takes stock of Israel\u2019s limited strike on Iran this Friday \u2014 the third time that the two sides exchanged fire in less than a week. <strong>Iran <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/irans-foreign-minister-downplays-drone-attack-says-tehran-investigating-2024-04-20\/\" style=\"\" rel=\"noopener\">downplayed<\/a><\/strong><strong> the strike<\/strong>, appearing eager to close this chapter of its long-running covert battle with Israel.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Last week may have marked a turning point: <\/strong>The open exchange of attacks brought a decades-long shadow war between Iran and Israel into the open, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b0ff931b-ca5e-40ac-9ca0-f007465967ad\" style=\"\" rel=\"noopener\">Financial Times<\/a> and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-19\/week-of-iran-israel-strikes-marks-a-mideast-game-changer?srnd=homepage-middle-east&amp;sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a> warn, and the worry is that \u201climiting escalation will get harder over time.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- The United States is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/843796a6-191c-4828-8bc9-d6648e4b460e\" style=\"\" rel=\"noopener\">seeking an alliance with the UAE on artificial<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/843796a6-191c-4828-8bc9-d6648e4b460e\" style=\"\" rel=\"noopener\">intelligence<\/a><\/strong><strong>. <\/strong>Last week\u2019s USD 1.5 bn investment in G42, the Abu Dhabi-based AI leader, could be the first of a number of big agreements as American officials look to advance talks with Google and OpenAI, too. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- <\/strong>The US House of Representative has <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/us-house-vote-long-awaited-95-billion-ukraine-israel-aid-package-2024-04-20\/\" style=\"\" rel=\"noopener\">passed a USD 95 bn aid bill for Ukraine and Israel<\/a> and will send the measure on to the Democrat-dominated Senate, meaning it\u2019s likely to become law. US Secretary of State Antony Blinken is <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0911e97e-03c8-4870-a72e-9b55f1f2405e\" style=\"\" rel=\"noopener\">warning China over weapons exports to Russia<\/a>. And <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/hamas-explores-moving-political-headquarters-out-of-qatar-8a3a794b?mod=hp_lead_pos4\" style=\"\" rel=\"noopener\">Hamas is mulling whether to move its political headquarters<\/a> out of Qatar to Oman or a second Arab state.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <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>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jihad-azour\/\">Jihad Azour<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"618811 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=\"618811\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/21\/618811\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618811\" class=\"content-area-description single-story post-618811 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1171.png?ssl=1\"><\/a><\/span><\/p>\n<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=\"618812\" 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=\"618812\">\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\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/21\/madbouly-government-cuts-privatization-program-targets-for-the-year\/\">\r\n                            Madbouly government slashes 2024 privatization program targets to USD 1 bn                        <\/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       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year\">\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=Madbouly+government+cuts+privatization+program+targets+for+the+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F04%2F21%2Fmadbouly-government-cuts-privatization-program-targets-for-the-year%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\/21\/madbouly-government-cuts-privatization-program-targets-for-the-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1366.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"618813\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/21\/madbouly-government-cuts-privatization-program-targets-for-the-year\/1366-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1366.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1366.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1366.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1366.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618812\" class=\"content-area-description single-story post-618812 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch tag-economy tag-enterpriseam tag-gabal-el-zeit-wind-farm tag-hala-el-said tag-imf tag-privatization-watch tag-zafarana 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\/.f1b833e2-1589-4f95-bc6c-563e5975ad81.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Gov\u2019t<\/strong><strong> slashes 2024 privatization program targets: <\/strong>The government aims to raise around USD 1 bn through the privatization of state-owned companies and assets via stake sales to strategic investors or EGX listings this year, Planning Minister Hala El Said told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/62835\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%AA%D9%84%D9%82%D9%89-7-%D8%B9%D8%B1%D9%88%D8%B6-%D8%AF%D9%88%D9%84%D9%8A%D8%A9-%D9%84%D8%A7%D8%B3%D8%AA%D8%BA%D9%84%D8%A7%D9%84-%D9%85%D9%82%D8%A7%D8%B1-%D8%AD%D9%83%D9%88%D9%85%D9%8A%D8%A9-%D9%88%D8%AA%D8%B3%D8%AA%D9%87%D8%AF%D9%81-15-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%85%D9%86-%D8%A7%D9%84%D8%B7%D8%B1%D9%88%D8%AD%D8%A7%D8%AA\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is significantly lower than previous estimates: <\/strong>Finance Minister Mohamed Maait in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a827b200-b22e-4487-a078-6f47e889cbbf\/egypt-aims-to-raise-usd%253cmark%253e-6.5%253c%2Fmark%253e%253cmark%253e-bn%253c%2Fmark%253e-from-state-asset-sales-in-2024\" style=\"\" rel=\"noopener\">February<\/a> said that the government is looking to raise some USD 6.5 bn through the privatization of state-owned companies and assets by the end of the year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And considerably below the amount we\u2019ve been raising recently: <\/strong>The government secured <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e88b903-fd4f-448e-b331-314accc55de9\/talaat-moustafa-group-now-owns-a-39%2525-stake-in-the-state%25e2%2580%2599s-historic-hotels-company\" style=\"\" rel=\"noopener\">about USD 5.6 bn<\/a> between April 2022 and December 2023 from selling state-owned stakes in 14 companies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Targets for 2025 are also pretty conservative: <\/strong>The government is looking to raise some USD 1.5 bn from the privatization program in 2025, El Said added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No rush to sell? <\/strong>The International Monetary Fund in February seemed to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/70fc592b-2ad2-47f2-a847-6db6539e47c3\/egypt-inching-closer-to-new-large-imf-loan,-says-fund-chief\" style=\"\" rel=\"noopener\">calm its tone<\/a> on the urgency of Egypt\u2019s need to progress its sales of state-owned assets prior to its announcement of our expanded USD 8 bn loan program, representing a shift from the IMF's earlier position on Egypt's need to pick up the pace of privatizing state-owned companies. \u201cThe situation in Gaza has put pressure on Egypt, including its state assets sales program, and [the IMF wants] Egypt to sell at the appropriate time,\u201d and to not \u201crush to sell shares in government companies under the current circumstances,\u201d IMF Managing Director Kristalina Georgieva said at the time.<\/p>\n<p class=\"tag-border-left\">NEXT ON THE PRIVATIZATION AGENDA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gov\u2019t to wrap up Gabal El Zeit and Zafarana sale in months: <\/strong>The state is looking to finalize the stake sale of the Gabal El Zeit and Zafarana wind farms within the coming 3-4 months, El Said continued. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A little delayed: <\/strong>El Said had previously said that we can expect the government to finalize thesale of the wind farms before the end of March.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>Danish shipping giant Maersk reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1d724eb5-69ad-4490-bab5-00a5b65d9a1f\/maersk,-actis-make-progress-on-zafarana,%253cmark%253e-gabal%253c%2Fmark%253e%253cmark%253e-el%253c%2Fmark%253e%253cmark%253e-zeit%253c%2Fmark%253e-wind-farms-acquisition-bids\" style=\"\" rel=\"noopener\">began<\/a> due diligence for the 545-MW Zafarana wind farm late February and was set to submit a final offer to acquire half of the asset. Meanwhile, UK-based private equity giant Actis reportedly wrapped up due diligence on the state-owned 580-MW Gabal El Zeit wind farm. A number of local and foreign investors have reportedly also shown interest in the two farms, including Saudi Arabia\u2019s ACWA Power, the UAE\u2019s Alcazar Energy, and our friends at renewables firm Infinity.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gabal-el-zeit-wind-farm\/\">Gabal El Zeit wind farm<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hala-el-said\/\">Hala El Said<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/zafarana\/\">Zafarana<\/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=\"618814\" 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=\"618814\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/21\/egypt-inks-14-agreements-with-chinese-firms-during-china-egypt-zhejiang-economic-forum\/\">\r\n                            Egypt inked 14 agreements with Chinese firms during the China-Egypt Zhejiang Economic Forum                        <\/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                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data-image-meta=\"[]\" data-image-title=\"1354.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1354.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1354.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618814\" class=\"content-area-description single-story post-618814 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam tag-investment-watch tag-jushi-group tag-manufacturing tag-teda-industrial-zone wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.a849930e-97a9-4a8d-a008-bb9d08a22c68.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New Chinese projects coming to our industrial zones:<\/strong> Egypt has inked 14 agreements with Chinese companies to set up projects alongside our local private sector during the China-Egypt Zhejiang Economic Forum on Thursday, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02nnttkrUYbCr8uK7TSvoaNmh49rJnqToL6pshBpsWBHSMTfCG3D61Eh4UGaFHMxw4l\" style=\"\" rel=\"noopener\">statement<\/a> from the Suez Canal Economic Zone. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The agreements include:<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- A USD 800 mn fiberglass and polyester factory: <\/strong>Chinese synthetic fiber manufacturer <a target=\"_blank\" href=\"https:\/\/www.xinfengming.com\/en\" style=\"\" rel=\"noopener\">Xin Feng Ming Holding<\/a> will establish a fiberglass and polyester production factory with investments of around USD 800 mn in the China-Egypt TEDA trade zone in Ain Sokhna under an agreement signed with economic zone. Production is scheduled to kick off in 2026, with a capacity of 300k tons per year in the first phase and 1 mn tons a year when fully operational. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- A power generation center:<\/strong> China\u2019s electric utility company <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/profile\/company\/1066290D:HK\" style=\"\" rel=\"noopener\">Zhejiang Energy International<\/a> to build a power generation center that will rely on varying sources of energy under a cooperation agreement inked with TEDA. The center will include a 400 MW\/220 KV substation, a 200-MW gas-fired power station, and a 100-MW photovoltaic power station. The statement did not disclose the value or timeline of the project. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Jushi secures funding for planned expansion:<\/strong> The Egyptian arm of the Chinese fiberglass manufacturer <a target=\"_blank\" href=\"https:\/\/www.jushi.com\/en\/\" style=\"\" rel=\"noopener\">Jushi<\/a>, Jushi Egypt for Fiberglass Industry, signed a financing agreement with state-owned Chinese ins. company China Export &amp; Credit Ins. Corporation. The financing will help Jushi expand the annual production capacity of its factory in TEDA by 320k tons. The statement didn\u2019t disclose the value of the financing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Jushi announced in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ef74ba20-02ec-409a-8c0e-bbf43c21dd15\/lots-of-news-from-elsewedy-electric\" style=\"\" rel=\"noopener\">December<\/a> that it would invest USD 8 mn to expand its factory in TEDA after having been awarded the necessary land plot of the expansion by Elsewedy Industrial Development.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Data point: <\/strong>Companies have pledged USD 3 bn \u2014 represented in some 128 projects \u2014 into the Suez Canal Economic Zone \u2014 40% of which came from China \u2014 during the first nine months of the current fiscal year. <\/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\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jushi-group\/\">Jushi Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/teda-industrial-zone\/\">TEDA industrial zone<\/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=\"618816\" 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=\"618816\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/21\/govt-eyes-increasing-the-average-term-of-its-securities-to-4-5-5-years\/\">\r\n                            Egypt eyes raising its debt instruments\u2019 average maturities to 4.5-5 years                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn 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data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1362.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1362.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1362.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618816\" class=\"content-area-description single-story post-618816 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt tag-debt-watch tag-enterpriseam tag-green-bonds tag-mohamed-maait tag-sukuk tag-treasuries wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.567c31fd-7f8a-427e-873b-187c99f19c6e.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The&nbsp;<\/strong><strong>state is <\/strong><strong>eyeing longe<\/strong><strong>r debt <\/strong><strong>maturities<\/strong><strong>:<\/strong> The Madbouly government aims to extend the average maturity of its debt instruments to 4.5-5 years as it focuses on longer-term bonds, Finance Minister Mohamed Maait told Asharq Business (<a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/62815\/%D9%85%D8%B9%D9%8A%D8%B7-%D9%84%D9%80%D8%A7%D9%84%D8%B4%D8%B1%D9%82-%D9%85%D8%B5%D8%B1-%D8%B3%D8%AA%D8%AD%D8%B5%D9%84-%D8%B9%D9%84%D9%89-820-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%85%D9%86-%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D9%86%D9%82%D8%AF-%D8%AE%D9%84%D8%A7%D9%84-3-%D8%A3%D8%B4%D9%87%D8%B1\/\" style=\"\" rel=\"noopener\">watch, runtime: 12:54<\/a>) on the sidelines of the IMF and World Bank spring meetings in Washington. The average maturity of government securities is expected to see a marginal increase by the end of the current fiscal year to 3.3 years, up from 3.2 years in the previous fiscal year, Maait added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No deferred <\/strong><strong>payments<\/strong><strong>:<\/strong> Maait dismissed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cbfc3d40-7cea-4edf-9607-4d64d9282036\/saudi-arabia%25e2%2580%2599s-ajlan-&amp;-bros-holding-mulls-integrated-tourism-project-in-ras-gamila\" style=\"\" rel=\"noopener\">claims<\/a> that authorities were looking to delay interest payments on domestic debt securities, adding that all dues were paid on time as the government has been committed to meeting all of its local and foreign debt obligations \u201ceven in difficult times.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>International bond issuances are still on hold:<\/strong> The government has not yet decided whether to tap the international debt market in the next fiscal year, Maait said, adding that the ministry will begin looking into the matter within the first two months of the next fiscal year \u2014 which starts in July. If the government does decide to tap foreign debt markets, foreign issuances will account for only a small portion of its debt portfolio, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>Maait <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4286f10b-5618-426b-87de-d53d22d9591a\/we%25e2%2580%2599re-in-for-up-to-usd-9-bn-in-funding-from-the-world-bank,-eu\" style=\"\" rel=\"noopener\">said<\/a> at a presser last month that the Finance Ministry is not planning to seek out foreign debt markets or issue any international bonds before the end of the current fiscal year set to end this June.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-bonds\/\">green bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sukuk\/\">sukuk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/treasuries\/\">treasuries<\/a>\n                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class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.global\/en\/locations\/Egypt\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/674.png?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"618819\" 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=\"618819\">\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\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/21\/fresh-capital-requirements-for-mortgage-finance-firms-more-approved-by-the-cabinet\/\">\r\n                            Fresh capital requirements for mortgage finance firms in Egypt + more approved by the cabinet                        <\/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\/21\/fresh-capital-requirements-for-mortgage-finance-firms-more-approved-by-the-cabinet\/\" target=\"_blank\">\n                    Open in new 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      <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1364.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"618820\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/21\/fresh-capital-requirements-for-mortgage-finance-firms-more-approved-by-the-cabinet\/1364-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1364.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1364.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1364.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1364.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618819\" class=\"content-area-description single-story post-618819 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-cabinet-watch tag-enterpriseam tag-mortgage-finance tag-non-banking-financial-services tag-real-estate 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\/.1eb5d25b-1113-4553-a81e-fbaeb08b45a5.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mortgage finance firms could soon see their capital requirement doubled<\/strong> to EGP 100 mn \u2014 in local currency or its equivalent in FX \u2014 up from EGP 50 mn under new amendments proposed by the Madbouly cabinet on Thursday to the Mortgage Law, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02Qccr5qCzFUDiXYBS6PyE57NnVw88iS18LoVwRz14hR6mYzD96hAgNTpMTHR9ZQpjl\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Firms will have a year to comply with the new capital requirement<\/strong> once it gets the final greenlight. The Financial Regulatory Authority will have the right to extend this grace period by two years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale:<\/strong> The amendment came in response to the rise in building materials costs, which consequently has pushed up real estate prices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Better protection for mortgage firms:<\/strong> The amendments also introduce procedures to expedite the process of recovering overdue payments, allowing mortgage firms to take legal action in certain cases. This comes with the aim of pushing mortgage finance firms to lend out more funds. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How it works: <\/strong>If the borrower fails to settle the overdue payments within 60 days of receiving a notice from the mortgage company \u2014 which the company can send once the payment is 30 days overdue \u2014 the firm can request the sale of the unit according to market price to settle the borrower\u2019s dues. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CABINET ALSO APPROVED-<\/strong><\/p>\n<ul>\n<li>A draft decision to <strong>set up a new private freezone<\/strong> dubbed <strong>The Suez Canal for Modern&nbsp;<\/strong><strong>Boats Company <\/strong>south of Safaga. The zone will manufacture, maintain, and export yachts. <\/li>\n<li><strong>Changes to economic courts:<\/strong> The ministers approved amendments to the Economic Court Act, which regulates economic courts and defines their jurisdictions. The amendments aim to regulate the formation of courts of first instance and chambers of appeal.<\/li>\n<li><strong>Extending foreign operators\u2019 exemption from airport fees<\/strong> until November as part of the state\u2019s efforts to boost tourism. The exemption was set to end <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3ca84bbc-abd5-4f40-baff-fe7a89292f34\/egypt-to-relax-freezone-regulations-to-boost-investment\" style=\"\" rel=\"noopener\">last month<\/a>. <\/li>\n<li><strong>A contract between the Finance Ministry and an unnamed company<\/strong> to provide clearing and settlement services for investors for a period of three years.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cabinet-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mortgage-finance\/\">mortgage finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"618821 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=\"618821\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/21\/618821\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618821\" class=\"content-area-description single-story post-618821 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/186.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"618822\" 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=\"618822\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/21\/cabinet-spokesman-el-homsani-took-to-the-airwaves-to-address-the-days-topics-of-conversation\/\">\r\n                            Cabinet spokesman El Homsani took to the airwaves to address the day\u2019s topics of conversation                        <\/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\/21\/cabinet-spokesman-el-homsani-took-to-the-airwaves-to-address-the-days-topics-of-conversation\/\" 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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We\u2019re in the dark on that one:<\/strong> \u201cThe electricity blackouts are being treated as a temporary measure, but it is difficult to know exactly how long they will last,\u201d El Homsani told Amr Adib on El Hekaya (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=siPk-7GhWfY&amp;ab_channel=%D8%A7%D9%84%D8%AD%D9%83%D8%A7%D9%8A%D8%A9\" style=\"\" rel=\"noopener\">watch, runtime: 26:46<\/a>). The Madbouly government is aware of the burden this places on citizens, but the measure saves the state\u2019s public treasury c. USD 1 bn annually, El Homsani stressed. Money not spent on fuel to power generators can go towards bigger priorities like food and medicine, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T<\/strong><strong>he gov\u2019t will hit pause on blackouts during Coptic Holidays<\/strong>, El Homsani told Ahmed Moussa on Ala Masouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=nTHDwzcNoQk\" style=\"\" rel=\"noopener\">watch, runtime: 1:35<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How and when pharma prices could change: <\/strong>The possibility of hiking up the price of meds is still under review by the Egyptian Drug Authority, El Homsani explained. The decision whether to increase prices and by how much will depend on the USD exchange rate, the cost of production, and patients\u2019 ability to pay, El Homsani explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good news for those looking to buy a car: <\/strong>Asian car dealers have begun to lower their prices following the stabilization of the USD exchange rate, industry insider Ahmed Ammar said on El Hekaya (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=3J-YQ3Jp4S8&amp;ab_channel=%D8%A7%D9%84%D8%AD%D9%83%D8%A7%D9%8A%D8%A9\" style=\"\" rel=\"noopener\">watch, runtime: 10:43<\/a>). Small-engined cars are the first to witness a drop in prices as they are less heavily taxed than larger-engined cars, he added. Ammar advised to wait around two to three months until the exchange rate stabilizes before purchasing a car, as car prices are likely to fall more \u2014 but he stopped short of making any long-term predictions on the trajectory of prices, given the changing nature of political and economic conditions. <\/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\/egyptian-drug-authority\/\">Egyptian Drug Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/21\/sdx-energy-sells-its-50-stake-in-west-gharib-concessions-in-egypt-exit-plus-state-pays-oil-arrears-tahya-misr-1-terminal-online-in-2025-heliopolis-housing-shortlists-development-partners\/\">\r\n                            SDX Energy sells its 50% stake in West Gharib concessions for USD 6.6 mn in Egypt exit. PLUS: State pays oil arrears, Tahya Misr 1 terminal online in 2025, Heliopolis Housing shortlists development partners                        <\/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\/21\/sdx-energy-sells-its-50-stake-in-west-gharib-concessions-in-egypt-exit-plus-state-pays-oil-arrears-tahya-misr-1-terminal-online-in-2025-heliopolis-housing-shortlists-development-partners\/\" 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\/21\/sdx-energy-sells-its-50-stake-in-west-gharib-concessions-in-egypt-exit-plus-state-pays-oil-arrears-tahya-misr-1-terminal-online-in-2025-heliopolis-housing-shortlists-development-partners\/')\">\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\/21\/sdx-energy-sells-its-50-stake-in-west-gharib-concessions-in-egypt-exit-plus-state-pays-oil-arrears-tahya-misr-1-terminal-online-in-2025-heliopolis-housing-shortlists-development-partners\/\">\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=SDX Energy sells its 50% stake in West Gharib concessions in Egypt exit. 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/21\/sdx-energy-sells-its-50-stake-in-west-gharib-concessions-in-egypt-exit-plus-state-pays-oil-arrears-tahya-misr-1-terminal-online-in-2025-heliopolis-housing-shortlists-development-partners\/1390-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1390.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1390.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1390.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1390.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618825\" class=\"content-area-description single-story post-618825 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-commodities tag-debt tag-energy tag-enterpriseam tag-heliopolis-housing-and-development tag-real-estate tag-sdx-energy tag-supply-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.dd6e660a-a3e9-4d2c-92c0-bf3b5ef694da.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">ENERGY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #1- SDX sells part of its Egypt portfolio: <\/strong>LSE-listed oil and gas firm SDX sold its 50%working interest in two blocks in the West Gharib concession in the Eastern Desert to Horizons LLC and NPC Petroleum Services for USD 6.6 mn, the company said in a <a target=\"_blank\" href=\"https:\/\/polaris.brighterir.com\/public\/sdx_energy\/news\/rns_tool\/story\/w9nyppr\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>South Disouq asset sale next: <\/strong>The company also \u201ccontinues to progress the binding documentation for the sale of its South Disouq assets\u201d as part of its efforts <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/378903de-9f9d-43ae-be8a-9aa1aacdb50b\/sdxit\" style=\"\" rel=\"noopener\">to sell its entire Egypt portfolio<\/a> to focus on operations in Morocco. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong><strong>Gov\u2019t puts its money where its mouth is with commitment to paying<\/strong><strong> international oil firm arrears:<\/strong> The Egyptian General Petroleum Corporation (EGPC) paid the UK\u2019s United Oil and Gas USD 1 mn, according to a <a target=\"_blank\" href=\"https:\/\/www.londonstockexchange.com\/news-article\/UOG\/receipt-of-egyptian-receivables-of-1-million-usd\/16424252\" style=\"\" rel=\"noopener\">disclosure<\/a> by the British company on the LSE. The payment will help United clear its debts as it withdraws from the Abu Sennan concession in the Western Desert.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s more to come: <\/strong>The Egyptian state-owned oil and gas company is expected to pay the remaining USD 500k it owes to the company \u201cover the coming months.\u201d <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The government has begun paying back <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe8be5ef-1808-4344-aa09-d303ff2fe7a2\/gov%25e2%2580%2599t-begins-paying-back-nearly-20%2525-of-overdue%253cmark%253e-arrears%253c%2Fmark%253e-to-international-oil-firms\" style=\"\" rel=\"noopener\">nearly 20%<\/a> of the arrears it owes to international oil companies operating in the country. The EGPC paid back <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/408a4671-81f1-43d8-8b1a-1802b20dc8c0\/gov%25e2%2580%2599t-pays-back-some-of-its-dues-to-pharos-energy.-plus:-news-from-juhayna\" style=\"\" rel=\"noopener\">27% of its dues<\/a> to Pharos Energy and settled <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48283890-d6a0-4e52-841d-ea932866d2e3\/acud%25e2%2580%2599s-assets-have-tripled-in-value-post-float.-plus:-news-from-nbe,-itida,-al-ahly-momkn,-ifc,%253cmark%253e-capricorn-%253c%2Fmark%253eenergy\" style=\"\" rel=\"noopener\">USD 30 mn in outstanding receivables<\/a> to Capricorn Energy last month.<\/p><p class=\"tag-border-left\">LOGISTICS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tahya Misr 1 container terminal to come online in 2025:<\/strong> The Tahya Misr 1 container terminal \u2014 one of three terminals planned in the Damietta port development project \u2014 will kick off operations in April 2025, Prime Minister Moustafa Madbouly said during his visit to the port yesterday, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0323QY7nuVgmH8yPyNMcwyt89nE5igGiGmoDJu1SHynzpKfzhUuuFM213tmGQkCji7l\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. The terminal will add 3.5 mn container capacity to the port, Transport Minister Kamel EL Wazir said in a separate <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/bdezbx5b\" style=\"\" rel=\"noopener\">statement<\/a>. The Damietta Port development project, including the other two container terminals, will be completed in 2027, Madbouly added.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** We dove into the ins and outs of the Madbouly government\u2019s plans to overhaul Egypt\u2019s<\/strong><strong> transport infrastructure in last week\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4d4ef859-41d7-4ddf-a8e5-1f6832047392\/how-egypt-is-investing-in-infrastructure-as-a-way-to-boost-trade-competitiveness-and-attract-more-industrial-investments\" style=\"\" rel=\"noopener\">HardHat<\/a><\/strong><strong>.<\/strong><\/p><p class=\"tag-border-left\">REAL ESTATE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Heliopolis Housing shortlists its potential partners for New Heliopolis<\/strong><strong> development:<\/strong> Heliopolis Housing and Development is planning to choose the company that will develop a EGP 10 bn project in New Heliopolis \u201cwithin days\u201d from three shortlisted <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8fd7a821-8540-45ef-bd35-6e788105d89a\/turkey%25e2%2580%2599s-dnm-inks-contract-to-set-up-denim-factory.-plus:-news-from-heliopolis-housing,-indrive,-air-arabia\" style=\"\" rel=\"noopener\">bids<\/a> from Mountain View, Hyde Park, and Madinet Masr, the company\u2019s investor relations chief Marwa Mounir told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/04\/20\/1784746\" style=\"\" rel=\"noopener\">Al Borsa<\/a>.<\/p><p class=\"tag-border-left\">INVESTMENT- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EgyDrew<\/strong><strong> wants to invest EUR 10 mn into iron rod production:<\/strong> Iron bar manufacturer EgyDrew \u2014 a joint venture between the Holding Company for Chemical Industries and Global Steel \u2014 plans to funnel some EUR 10 mn into setting up a new production line in order to meet market demand for lighting poles and railway flanges, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/04\/20\/1783998\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reported. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n         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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=\"618827\" 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=\"618827\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/21\/netflix-reports-solid-1q-2024-earnings-but-growth-concerns-see-shares-fall\/\">\r\n                            Netflix reports solid 1Q 2024 earnings, but growth concerns see shares fall                        <\/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\/21\/netflix-reports-solid-1q-2024-earnings-but-growth-concerns-see-shares-fall\/\" 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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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"618828\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/21\/netflix-reports-solid-1q-2024-earnings-but-growth-concerns-see-shares-fall\/1374-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1374.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1374.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1374.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1374.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618827\" class=\"content-area-description single-story post-618827 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-abu-dhabi-islamic-bank tag-cryptocurrency tag-enterpriseam tag-financial-markets tag-netflix tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.558b4a7f-d137-44a1-b1be-9039004cd5a1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>It looked like Netflix had a lot to celebrate: <\/strong>Netflix added 9.3 mn subscribers in 1Q 2024 and its net income was up 78% y-o-y, surpassing analyst expectations to reach USD 2.3 bn on the back of its controversial crackdown on password sharing and the introduction of ad-supported plans, the platform reported in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1369.pdf\" style=\"\" rel=\"noopener\">letter to shareholders (pdf)<\/a> following its quarterly earnings release.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But shareholders have concerns about growth after Netflix said it will stop reporting <\/strong><strong>subscriber numbers <\/strong>as of 2025 unless there\u2019s a significant milestone. That type of move is common as businesses mature \u2014 witness Apple\u2019s decision a few years back to stop breaking down the number of devices it sells in each of its product categories.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite the impressive quarterly results, Netflix\u2019s share price took a beating:<\/strong> Netflix\u2019s shares fell 9.1% to USD 555.04 a share on the Nasdaq on Friday, following the news a day earlier.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH NOTING- <\/strong><\/p><ul>\n<li><strong>BTC\u2019s \u201chalving\u201d event risks putting pressure on miners:<\/strong> BTC\u2019s once-every-four-years \u201c<a target=\"_blank\" href=\"https:\/\/www.investopedia.com\/bitcoin-halving-4843769\" style=\"\" rel=\"noopener\">halving<\/a>\u201d measure has come into effect, cutting in half the rewards for miners who often rely on expensive hardware and a lot of energy to verify and validate transactions. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-20\/bitcoin-halving-cuts-supply-of-new-tokens-in-threat-to-miners?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/li>\n<li><strong>ADIB to acquire 15% stake of Indonesian bank? <\/strong>Abu Dhabi Islamic Bank (ADIB) is in talks to purchase a 15% stake in <a target=\"_blank\" href=\"https:\/\/www.bankbsi.co.id\/\" style=\"\" rel=\"noopener\">Bank Syariah Indonesia<\/a> \u2014 Indonesia's biggest Islamic bank \u2014 for USD 1.1 bn. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/abu-dhabis-largest-islamic-bank-talks-buy-11-bln-stake-indonesian-lender-sources-2024-04-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<\/ul><p><a target=\"_blank\" id=\"t.4a4884d850825b11c33c5efacacafe517cda041d\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28,333<\/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\">-4.5% (YTD: +13.8%)<\/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>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 48.27<\/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 48.41<\/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><strong>)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 48.28<\/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 48.38<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,502<\/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: +4.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,126<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: -4.7%)<\/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>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\">4,175<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: +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\">4,967<\/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: +4.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">7,896<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +3.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,918<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +8.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 87.29<\/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\">+0.2%<\/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>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 1.75<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,413.80<\/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\">+0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 64,674.20<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.0% (YTD: +53.0%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell by 4.5% at Thursday\u2019s close<\/strong> on turnover of EGP 5.7 bn (13.5% above the 90-day average). Foreign investors were net sellers. The index is up 13.8% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Egypt Kuwait Holding - USD (+0.8%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Sidi Kerir Petrochemicals (-9.0%), Fawry (-8.4%), and Oriental Weavers (-8.2%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-dhabi-islamic-bank\/\">Abu Dhabi Islamic Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cryptocurrency\/\">cryptocurrency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                       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\r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/21\/shoukry-lands-down-in-istanbul-ahead-of-el-sisi-visit-penciled-in-for-later-this-month\/\">\r\n                            Shoukry lands down in Istanbul ahead of El Sisi visit penciled in for later this month                        <\/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                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data-image-meta=\"[]\" data-image-title=\"1377.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1377.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1377.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618829\" class=\"content-area-description single-story post-618829 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-diplomacy tag-egypt-turkey-relations tag-enterpriseam tag-recip-tayyip-erdogan 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\/.dbf4125e-fd36-4344-b79d-ef5e350afdf6.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Shoukry, Erdogan, and Fidan call for Israel-Iran tensions not to overshadow the<\/strong><strong> mounting humanitarian catastrophe in Gaza: <\/strong>Foreign Minister Sameh Shoukry with Turkish President Recep Tayyip Erdogan and Foreign Minister Hakan Fidan called on both Iran and Israel to \u201cexercise restraint\u201d during a meeting of the three in Istanbul yesterday, according to a joint press conference following the meeting (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=T56qWcC4tlE&amp;t=17s\" style=\"\" rel=\"noopener\">watch, runtime: 35:57<\/a>). \u201cOur first priority should be ending Israel\u2019s occupation in Palestine and a two-state solution\u201d and \u201cany development that could distract us from this fact must be ignored\u201d, Fidan said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Relations between Cairo and Istanbul have been warming after a decade of tense relations, with President Erdogan visiting Cairo <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ae5b0fc-803e-47d7-a69e-acd5831c4f19\/%253cmark%253eerdogan%253c%2Fmark%253e-talks-trade,-politics-with-el-sisi-in-his-first-visit-to-cairo-in-over-a-decade\" style=\"\" rel=\"noopener\">for the first time since 2012<\/a> this February and President Adbel Fattah El Sisi expected to visit the country later this month. The two sides plan to boost the volume of trade between them to USD 15 bn over the next few years from USD 6.6 bn at the end of 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The meeting also got the attention of the int\u2019l press:<font face=\"Arial\">&nbsp;<\/font><\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/turkey-says-ending-israels-occupation-palestinian-territories-is-first-priority-2024-04-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a> <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-turkey-relations\/\">Egypt-Turkey relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/recip-tayyip-erdogan\/\">Recip Tayyip Erdogan<\/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=\"618831\" 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\/21\/618831\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-618831\" class=\"content-area-description single-story post-618831 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;\">25 April (Thursday): National holiday in observance of Sinai Liberation 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: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\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Chinese investments incoming. Shoukry in Istanbul | IMF wants to speed up reform | Mortgage financing firm\u2019s capital requirements doubled<\/p>\n","protected":false},"featured_media":618808,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-618807","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"11dc02ac-114d-4804-9869-42a2d8bcfa1b","teaser":"Chinese investments incoming. Shoukry in Istanbul | IMF wants to speed up reform | Mortgage financing firm\u2019s capital requirements doubled","photo_url":"https:\/\/ent.news\/2024\/3\/2551.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Privatization targets slashed to USD 1 bn for 2024 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/privatization-targets-slashed-to-usd-1-bn-for-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Privatization targets slashed to USD 1 bn for 2024\" \/>\n<meta property=\"og:description\" content=\"Chinese investments incoming. 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