{"id":619043,"date":"2024-04-24T00:00:00","date_gmt":"2024-04-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=619043"},"modified":"2025-12-17T05:20:56","modified_gmt":"2025-12-17T05:20:56","slug":"draft-state-budget-gives-first-real-insights-into-targets-forecasts-for-fy-2024-25","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/draft-state-budget-gives-first-real-insights-into-targets-forecasts-for-fy-2024-25\/","title":{"rendered":"Draft state budget gives first real insights into targets, forecasts for FY 2024-25"},"content":{"rendered":"<section id=\"619045\" 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=\"619045\">\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\/24\/the-egx-plummeted-4-9-yesterday\/\">\r\n                            The EGX plummeted 4.9% yesterday                        <\/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\/24\/the-egx-plummeted-4-9-yesterday\/\" target=\"_blank\">\n                    Open in new tab                   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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/the-egx-plummeted-4-9-yesterday\/1894-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1894.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1894.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1894.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1894.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-619045\" class=\"content-area-description single-story post-619045 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-debt tag-economy tag-enterpriseam 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\/.a1f9fa03-dc51-4b38-8b88-52d91a643b13.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, folks. <\/strong>The government\u2019s draft state budget for the coming fiscal year has finally dropped. In today\u2019s issue, we\u2019ve got a rundown of the draft budget along with plenty of energy, acquisition, startup, and bourse news for you to read through this morning.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And don\u2019t forget, we\u2019re in line for a long weekend starting tomorrow. <\/strong>The public, private, and banking sectors will have the day off tomorrow in observance of Sinai Liberation Day, according to statements from the <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0EhdHuqEEcqsso6ZrXAFNsHXSGjEFQ4nr8QZzgbyUKg2drN1DAf4gYmUcNFDcdp42l\" style=\"\" rel=\"noopener\">cabinet<\/a>, central bank, and <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1736.jpg\" style=\"\" rel=\"noopener\">EGX<\/a> <strong>.<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** EnterpriseAM Egypt will also be taking a break from your inboxes<\/strong> starting tomorrow, but we will be back in your inbox at our customary time with all the latest business news on Sunday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And we\u2019ve got another short work week ahead:<\/strong> The public and private sectors will be off on\u00a0<strong>Sunday, 5 May and Monday, 6 May<\/strong> in observance of Labor Day and Sham El Nessim, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02sfCqcTPFwgT7fnhNN2n4WYc8bUJDfE5cSnYwptRGdWsdQ5W2mQZ8h376PysDQ3pzl\" style=\"\" rel=\"noopener\">cabinet statement<\/a>.<\/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=\"wwtt2\"><\/a><strong>Gold customs exemptions extension? <\/strong>The Cairo Chamber of Commerce may submit a request to the Madbouly government for the extension of the decision allowing Egyptians living abroad to import gold to Egypt without paying customs duties, the head of the chamber\u2019s gold division, Hani Milad, told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a7%d9%84%d8%b4%d8%b9%d8%a8%d8%a9-%d8%a7%d9%84%d8%b9%d8%a7%d9%85%d8%a9-%d8%aa%d8%af%d8%b1%d8%b3-%d9%85%d8%b7%d8%a7%d9%84%d8%a8%d8%a9-%d8%a7%d9%84%d9%88%d8%b2%d8%b1%d8%a7%d8%a1-%d8%a8\/\" style=\"\" rel=\"noopener\">Al Mal<\/a>. The move would increase gold supplies in the local market and stabilize prices. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Prime Minister Mostafa Madbouly in November <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5eebc811-7a6e-4798-ad07-f7d9fc6192ea\" style=\"\" rel=\"noopener\">extended<\/a> zero-customs exemption for gold imports until 10 May 2024.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s another swelteringly hot day in Cairo today,<\/strong> with a high of 41\u00b0C and a low of 29\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>There\u2019s little respite from the heat in Alexandria<\/strong>, with a high of 37\u00b0C and a low of 24\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Senior citizens and those with respiratory illnesses are advised to stay indoors today<\/strong><strong> and tomorrow,<\/strong> on the back of poorer air quality this weekend, the Environment Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02EF6FLUgk9fFPXbQsZbQZFGtWKGXcjHfKVgD4AkKDS719J2QMHXZSRgqQKHVuCYHGl\" style=\"\" rel=\"noopener\">warned<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And over the long weekend, <\/strong>the weather will start cooling off from tomorrow with temperatures dropping to the low 30s in the capital and down to the mid 20s for our friends on the Mediterranean.<\/p><p class=\"tag-border-left\">ATTENTION, EGYPT INVESTORS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>Foreign investors are falling in love with Egypt again\u2026<\/strong> Foreign investors we speak with (debt, equity, and strategic alike) have a growing appetite for Egypt. They\u2019re buying into local debt, eyeing promising shares, and committing bns of USD to both new ventures here and the growth of their existing businesses. They like the Egypt story that\u2019s taking shape after the float of the EGP, and its competitive advantages are clear to many of them: <strong>It\u2019s a massive consumer opportunity and a regional export hub of tomorrow.<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Enterprise Optimism Forum 2024 will do exactly what it says on the tin: <\/strong>Spark conversations about a future that we think is much brighter than so many in our community feel right now. Think of it as much-needed shock therapy combined with an early, actionable roadmap for those of us who are \u201clong Egypt.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><strong>We\u2019ll be talking with you about the agenda over the coming couple of weeks.\u00a0<\/strong>It features speakers from Egypt and abroad who are future-proofing their businesses and angling to capture tomorrow\u2019s opportunities \u2014 and who aren\u2019t afraid to answer some tough questions. <\/p><p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><strong>*** Interested in attending? <\/strong><strong><a target=\"_blank\" href=\"https:\/\/optimism.enterprise.news\/\" style=\"\" rel=\"noopener\">Tap or click here<\/a><\/strong><strong> to let us know.<\/strong> Seating is limited. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/optimism.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/221.jpg?ssl=1\"><\/a> <\/p><p class=\"tag-border-left\">IN THE HOUSE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It was a busy day in the House yesterday, <\/strong>as representatives discussed a string of domestic issues including the draft state budget, the Unified Ins. Law, and a grant from the World Bank. The House will reconvene on 7 May. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Draft budget for the next fiscal unveiled:<\/strong> Finance Minister Mohamed Maait gave the House a first glance of the draft state budget for FY 2024-25. The draft budget is now in the Budget Committee\u2019s hands to be up for discussion and will be voted on and passed by the House before the end of June.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** We have a deep dive into the ins and outs of the draft budget in our lead story in the<\/strong><strong> news well below.<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Unified Ins. Law gets a preliminary thumbs up: <\/strong>MPs gave their preliminary approval to the new Unified Ins. Law, which will be put to a vote one more time in an upcoming session before being formally introduced. The law aims to draw up new and comprehensive rules for regulating the ins. industry and to widen compulsory ins. coverage. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- USD 9 mn World Bank grant gets the green light: <\/strong>MPs approved a USD 9 mn grant from the World Bank that will go into improving the management of waste from the healthcare and electronics sectors. <\/p><p class=\"tag-border-left\">EGXWATCH- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>The EGX plummeted 4.9% yesterday, <\/strong>with Egyptian stocks lost about EGP 86 bn of their market value. The bourse also halted trading on 13 stocks after they fell by 5-10%, according to <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/62972\/%D8%A8%D9%88%D8%B1%D8%B5%D8%A9-%D9%85%D8%B5%D8%B1-%D8%AA%D9%86%D8%AE%D9%81%D8%B6-5-%D8%A8%D9%81%D8%B9%D9%84-%D9%85%D8%A8%D9%8A%D8%B9%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D8%A4%D8%B3%D8%B3%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D8%AD%D9%83%D9%88%D9%85%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The sharp decline is \u201cnot surprising,\u201d<\/strong> after the stock market had been hitting fresh highs in the run-up to the float of the EGP, as investors looked to hedge against a weakening local currency, CI Capital\u2019s Monsef Morsi said. Geopolitical tensions in the region have prompted \u201ca strong corrective process that has affected the stock market,\u201d Azimut Investments\u2019 Ahmed Morshed added. <\/p><p class=\"tag-border-left\">POLLWATCH- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>Economists see Egypt\u2019s GDP growing by an estimated 3.0% clip in FY 2023-24<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egypt-economy-seen-growing-slower-after-imf-deal-before-picking-up-2024-04-23\/\" style=\"\" rel=\"noopener\">Reuters<\/a> poll of 14 economists. This is lower than previous estimates of 3.5% in January and 4.2% in July, as regional tensions have caused foreign revenues from the Suez Canal to plummet.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But they\u2019re more optimistic about the country\u2019s growth in 2025:<\/strong> Analysts see the economy\u2019s growth surging to 4.35%, up from January\u2019s prediction of 4.15%, on the back of a slew of int\u2019l aid packages and the Ras El Hekma agreement. This is higher than the government\u2019s own predictions of 4.2% growth for next year, unveiled by Finance Minister Mohamed Maait yesterday in the draft state budget. <strong>See our lead story in the news well below for the fuller picture. <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What will determine how fast the economy recovers? <\/strong>\"The biggest factor will be private consumption and whether or not this recovers from March-June on the back of the relaxation of capital controls and the floating of the pound,\" said Ivan Burgara from the Institute of International Finance. \"This will dictate whether we see a recovery in manufacturing and services which will boost or further hinder growth.\"<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What about the EGP\u2019s value?<\/strong> Analysts are pricing in an average rate of 48.65 against the greenback by the end of June this year, and 48.25 by the end of June next year.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tesla leads all of the big Western business papers<\/strong>, from the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d8afadd2-9d67-4a4c-b6e8-c7d4dda7521b\" style=\"\" rel=\"noopener\">Financial Times<\/a> and <a target=\"_blank\" href=\"https:\/\/www.lesechos.fr\/industrie-services\/automobile\/aux-abois-tesla-promet-que-des-modeles-plus-accessibles-arrivent-2090675\" style=\"\" rel=\"noopener\">Les Echos<\/a> to the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/autos\/tesla-tsla-q1-earnings-report-2024-c22f54d1?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> and <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/teslas-quarterly-revenue-falls-first-time-since-2020-2024-04-23\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. The company\u2019s shares rallied 11% in after-hours despite posting poor 1Q 2025 results after it promised to introduce \u201cmore affordable models\u201d by early next year. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A tale of two cities: <\/strong>Hong Kong\u2019s biggest IPO so far this year has <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/4cd30d77-2919-41e1-857d-2d7d902839ca\" style=\"\" rel=\"noopener\">flopped<\/a> (bubble tea chain ChaPanda\u2019s shares were down as much as 38% in their debut) as investors shy away from the Asian financial capital. In New York, cloud and data security outfit <a target=\"_blank\" href=\"https:\/\/www.rubrik.com\/\" style=\"\" rel=\"noopener\">Rubrik<\/a> is looking at a <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-23\/microsoft-backed-rubrik-s-ipo-said-to-be-20-times-oversubscribed?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">20x oversubscription rate<\/a> for its IPO, which could raise as much as USD 713 mn. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ELSEWHERE- <\/strong>Star fund manager Cathie Wood\u2019s <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/investing\/ark-funds-cathie-wood-investors-56e2950c\" style=\"\" rel=\"noopener\">Ark is still being slammed by redemptions<\/a>, college <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/us-news\/education\/columbia-university-hybrid-classes-pro-palestinian-protests-a242206d\" style=\"\" rel=\"noopener\">protests against US support of Israel\u2019s war in Gaza<\/a> are <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/04\/23\/nyregion\/columbia-university-campus-protests.html\" style=\"\" rel=\"noopener\">growing<\/a>, and our friends at <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/visas-profit-rises-strong-consumer-spending-2024-04-23\/\" style=\"\" rel=\"noopener\">Visa beat expectations<\/a> with strong 1Q earnings.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SIGN OF THE TIMES- Defense spending is up 9% in the Middle East<\/strong>, driven by bigger outlays by Saudi Arabia, Turkey, and Israel, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/3744cad3-52ac-40d7-b97d-e085aec1a23e\" style=\"\" rel=\"noopener\">Financial Times<\/a> notes this morning.<\/p><div style=\"background-color: #ddd; padding:10px; border-radius:10px;margin-bottom:20px;\"><strong>ENTERPRISE IS LOOKING FOR SMART, TALENTED PEOPLE of all backgrounds to help us build some very cool new things.<\/strong> Enterprise \u2014 the essential morning read on all the important news shaping business and the economy in Egypt and the region \u2014 is looking for writers, reporters and editors to help us build out new publications.<font face=\"Arial\"><br><\/font>\n<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>\n\n<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>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><br>Apply directly to jobs@enterprisemea.com and mention \u201cwriting development program\u201d<\/strong> in your subject line.<\/p>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2020\/01\/Web-view-01.jpg\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We hear from industry insiders on how Egypt can boost real estate exports efforts to support the sector and bring in fresh inflows of FX.<\/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\/economy\/\">economy<\/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=\"619047 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=\"619047\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/619047\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-619047\" class=\"content-area-description single-story post-619047 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><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 style=\"font-weight:400;\"> 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=\"619048\" 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=\"619048\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">BUDGET WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/egypts-fy-2024-2025-draft-budget-delivered-to-the-house\/\">\r\n                            Finance Minister Maait presents Egypt\u2019s FY 2024-2025 draft budget to the House of Representatives                        <\/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\/24\/egypts-fy-2024-2025-draft-budget-delivered-to-the-house\/\" target=\"_blank\">\n                    Open in new 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       <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt%E2%80%99s+FY+2024-2025+draft+budget+delivered+to+the+House+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F04%2F24%2Fegypts-fy-2024-2025-draft-budget-delivered-to-the-house%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\/24\/egypts-fy-2024-2025-draft-budget-delivered-to-the-house\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1733.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"619049\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/egypts-fy-2024-2025-draft-budget-delivered-to-the-house\/1733-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1733.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1733.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1733.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1733.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-619048\" class=\"content-area-description single-story post-619048 post type-post status-publish format-standard has-post-thumbnail hentry category-budget-watch tag-budget-watch tag-economy tag-enterpriseam tag-finance-ministry tag-house-of-representatives tag-mohamed-maait 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\/.b9842ac2-7ca7-45d8-998e-3c49b6ef65c6.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The draft budget is here: <\/strong>Yesterday, Finance Minister Mohamed Maait delivered his budget statement to the House, giving us the first proper look at the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1742.pdf\" style=\"\" rel=\"noopener\">draft state and public government budgets (pdf)<\/a> for the next fiscal year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> Budget season is going to be a bit different this time round, with the issuing of the first <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/146b3145-ac54-4832-be15-9e2799b474bc\" style=\"\" rel=\"noopener\">Public Government Budget<\/a>. The new budget \u2014 which does not replace the state budget \u2014 shows the budgets of all the state\u2019s economic bodies in addition to the state budget collated together. The first phase includes some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe8be5ef-1808-4344-aa09-d303ff2fe7a2\" style=\"\" rel=\"noopener\">40 economic bodies<\/a>.<\/p>\n<p class=\"tag-border-left\">MACRO GOALS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Growth to pick up:<\/strong> Economic growth will accelerate to 4.2% in the coming fiscal year, up from an estimated 2.9% in FY 2023-2024, and little above last year\u2019s 3.8%. The figure is 0.2 percent higher than <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b22a5100-0c81-46fe-9ac3-c52f94b2719d\/\" style=\"\" rel=\"noopener\">the 4.0% clip<\/a> projected in the preliminary budget report the Finance Ministry released last week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re in for a significant drop in inflation:<\/strong> Headline inflation will average 17.9% over the 12-month period, down from a projected 35.7% this fiscal year, according to the document. This is slightly below the 18.1% the government penciled in in the preliminary budget.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil prices to go down:&nbsp;<\/strong>The government sees Brent crude prices averaging USD 82 per barrel from July 2024 through to June 2025, down from a projected USD 85 a barrel this fiscal year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wheat prices remain flat: <\/strong>The government is expecting wheat prices through the 12-month period to average at USD 280 a ton \u2014 the same level throughout FY 2023-2024.<\/p>\n<p class=\"tag-border-left\">MONEY IN, MONEY OUT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Taxpayers are still chipping in the most to revenues:<\/strong> The state sees revenues rising some8.5% to 2.6 tn in FY 2024-2025, up from an estimated EGP 2.4 tn this fiscal year. Most of these revenues are made up of taxes, which are expected to log in at EGP 2.0 tn next fiscal year, amounting to some 77.0% of total revenues. That\u2019s above this year\u2019s projected EGP 1.6 tn, according to the document. Non-tax revenues are expected to fall in the next fiscal year to EGP 603.2 bn, down from the EGP 869.7 bn forecasted for this fiscal year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expenses are<\/strong><strong> on the rise as well:<\/strong> Spending for the upcoming fiscal year is projected to increase to EGP 3.9 tn next year, up from EGP 3 tn this fiscal year, with most of the spending allocations going towards interest payments, social support, and investments:<\/p>\n<ul>\n<li><strong>The state\u2019s wage bill<\/strong> will climb 16.6% to EGP 575.0 bn from a projected EGP 493.9 in the current fiscal year;<\/li>\n<li><strong>Debt servicing costs<\/strong> will increase 34.9% to EGP 1.8 tn, up from EGP 1.4 tn forecasted for the current fiscal year;<\/li>\n<li><strong>Commodity purchases<\/strong> will rise 22.1% to EGP EGP 166.7 bn, up from EGP 136.5 bn forecasted for the current fiscal year;<\/li>\n<li><strong>Public investment<\/strong> will rise 48.3% to EGP 495.8 bn, up from EGP 333.9 forecasted for the current fiscal year;<\/li>\n<li><strong>Allocations to education<\/strong> will rise 45.2% up from from the current fiscal year\u2019s budget to EGP 858 bn<\/li>\n<li><strong>Health spending <\/strong>is up 24.9% on the last budget to EGP 496 bn;<\/li>\n<li><strong>Social security spending<\/strong> will rise 14.9% in the new budget to EGP 548.7 bn.<\/li>\n<\/ul>\n<p class=\"tag-border-left\">DEBT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Debt as a proportion of GDP to fall this year and next year: <\/strong>The government forecasts the country\u2019s debt-to-GDP ratio falling to to 89.0% by the end of the current fiscal year, from 95.7% in the last fiscal year. The country\u2019s debt-to-GDP ratio is expected to fall to 88.2% in the next fiscal year, and is aiming to push the figure below 80% by the fiscal year 2026-2027.<\/p>\n<p class=\"tag-border-left\">DEFICIT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Next year:<\/strong> The government sees the budget deficit rising to 7.3% of the country\u2019s GDP in the next fiscal year, from 7.2% estimated in the budget for the current fiscal year. <\/p>\n<p class=\"tag-border-left\">THE CONSOLIDATED BUDGET FIGURES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Revenues in the consolidated budget <\/strong>are projected at EGP 5.3 tn, when factoring in estimated revenues from the state\u2019s economic entities, which amount to EGP 3.2 tn. <strong>The expenses forecasted for these bodies<\/strong> are at the same EGP 3.2 tn level, prompting the government to expect its consolidated expenses to reach EGP 6.6 tn.<\/p>\n<p class=\"tag-border-left\">SOCIAL SAFETY NET-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Total spending on measures to support at-risk households, businesses, and individuals is <\/strong><strong>in for a 19% boost<\/strong>, with the government saying it will spend almost EGP 636 bn next year, up from EGP 529.6 bn in FY 2023-2024, as the government pump up funds on subsidies to mitigate the impact of inflation and shore up the economy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fuel subsidies up:<\/strong> The government has increased fuel subsidies allocations in FY 2024-2025 to EGP 154.5 bn, up 29.4% from 119.4 bn this fiscal year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Food subsidies also will rise:<\/strong> Allocations to food commodities will inch up around 5.1% next fiscal year to EGP 134.2 bn, up from EGP 127.7 bn this year, according to the document.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>The budget will be referred to the House\u2019s Budget Committee for discussion and it should go up for a vote at the general assembly before the start of the new fiscal year on 1 July. If the budget doesn\u2019t pass before 30 June, the current budget rolls forward to direct state spending until the new document is passed. Meanwhile, the socioeconomic development plan will be sent to the Senate for discussion and a vote. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/budget-watch\/\">budget watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"619050\" 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=\"619050\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/egypt-negotiating-lease-of-regasification-unit-from-norways-hoegh-lng-plus-exports-from-israel-to-ramp-up-by-2h-2025\/\">\r\n                            Egypt negotiating lease of regasification unit from Norway\u2019s H\u00f6egh LNG. PLUS: Exports from Israel to ramp up by 2H 2025                        <\/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\/24\/egypt-negotiating-lease-of-regasification-unit-from-norways-hoegh-lng-plus-exports-from-israel-to-ramp-up-by-2h-2025\/\" 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\/24\/egypt-negotiating-lease-of-regasification-unit-from-norways-hoegh-lng-plus-exports-from-israel-to-ramp-up-by-2h-2025\/')\">\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\/24\/egypt-negotiating-lease-of-regasification-unit-from-norways-hoegh-lng-plus-exports-from-israel-to-ramp-up-by-2h-2025\/\">\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=Egypt negotiating lease of regasification unit from Norway\u2019s H\u00f6egh LNG. PLUS: Exports from Israel to ramp up by 2H 2025&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/egypt-negotiating-lease-of-regasification-unit-from-norways-hoegh-lng-plus-exports-from-israel-to-ramp-up-by-2h-2025\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/egypt-negotiating-lease-of-regasification-unit-from-norways-hoegh-lng-plus-exports-from-israel-to-ramp-up-by-2h-2025\/&title=Egypt negotiating lease of regasification unit from Norway\u2019s H\u00f6egh LNG. PLUS: Exports from Israel to ramp up by 2H 2025\">\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=Egypt+negotiating+lease+of+regasification+unit+from+Norway%E2%80%99s+H%C3%B6egh+LNG.+PLUS%3A+Exports+from+Israel+to+ramp+up+by+2H+2025+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F04%2F24%2Fegypt-negotiating-lease-of-regasification-unit-from-norways-hoegh-lng-plus-exports-from-israel-to-ramp-up-by-2h-2025%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\/24\/egypt-negotiating-lease-of-regasification-unit-from-norways-hoegh-lng-plus-exports-from-israel-to-ramp-up-by-2h-2025\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1536.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"619051\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/egypt-negotiating-lease-of-regasification-unit-from-norways-hoegh-lng-plus-exports-from-israel-to-ramp-up-by-2h-2025\/1536-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1536.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1536.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1536.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1536.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-619050\" class=\"content-area-description single-story post-619050 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-egypt-israel-relations tag-energy tag-enterpriseam tag-israel tag-oil-ministry 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\/5\/.7f649650-f8b4-49fe-8fd4-8b488393d654.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Imported gas, whether piped from Israel or from shipments of LNG, are<\/strong><strong> becoming an increasingly important part of our energy mix: <\/strong>The government is reportedly in negotiations with yet another firm to lease a floating regasification unit as we look towards ramping up LNG imports. But the state isn\u2019t just thinking in the short-term, with unconfirmed reports that imports of Israeli gas are set to increase in 2H 2025. <\/p>\n<p class=\"tag-border-left\">GOV\u2019T NEGOTIATING LEASE OF LNG REGASIFICATION UNIT FROM H\u00d6EGH LNG-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gov\u2019t presses on with its search for a LNG regasification unit:<\/strong> The Madbouly government is looking to lease a re-gasification unit from Norwegian firm <a target=\"_blank\" href=\"https:\/\/www.hoeghlng.com\/home\/default.aspx\" style=\"\" rel=\"noopener\">H\u00f6egh LNG<\/a>, with the unit arriving by summer, according to an unnamed Oil Ministry official cited by <a target=\"_blank\" href=\"https:\/\/cnnbusinessarabic.com\/energy\/58363\/%D9%85%D8%B3%D8%A4%D9%88%D9%84-%D9%85%D8%B5%D8%B1-%D8%AA%D8%AA%D9%81%D8%A7%D9%88%D8%B6-%D9%85%D8%B9-%D9%87%D9%88%D8%AC-%D8%A7%D9%84%D9%86%D8%B1%D9%88%D9%8A%D8%AC%D9%8A%D8%A9-%D9%84%D8%A7%D8%B3%D8%AA%D8%A6%D8%AC%D8%A7%D8%B1-%D9%88%D8%AD%D8%AF%D8%A9-%D9%84%D8%AA%D8%AC%D9%87%D9%8A%D8%B2-%D8%A7%D9%84%D8%BA%D8%A7%D8%B2-%D8%A7%D9%84%D9%85%D8%B3%D8%A7%D9%84-%D8%A7%D9%84%D9%85%D8%B3%D8%AA%D9%88%D8%B1%D8%AF\" style=\"\" rel=\"noopener\">CNN Arabic<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>H\u00f6egh LNG isn\u2019t the only firm we\u2019re in talks with: <\/strong>The government is reportedly also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7969a1e1-5fa4-4a4a-af73-74de094fd945\" style=\"\" rel=\"noopener\">in talks<\/a> with BW Energy to lease a unit from the Norwegian-Singaporian company for a five-year period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>At the moment, all of our LNG imports are going through Jordan<\/strong>: The proposed regasification unit will do away with the country\u2019s reliance on Jordan\u2019s terminal in Aqaba, which Egypt was given the right to use in an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a37a7288-8377-4f61-b169-c439aa7ddcbc\/anchorage-investments-signs-with-sczone-for-massive-petrochems-complex\" style=\"\" rel=\"noopener\">agreement<\/a> inked last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The country could spend up to USD 120 mn a month on LNG shipments this summer to support domestic demand as rising temperatures strain supplies with the Madbouly government planning to import three LNG shipments a month between July and October, according to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4dee55b2-9d00-4dd3-ac1f-7da2d203a76d\" style=\"\" rel=\"noopener\">unconfirmed reports<\/a> earlier this week. The Oil Ministry will also reportedly halt all LNG exports to Europe starting next month.<\/p>\n<p class=\"tag-border-left\">ISRAELI GAS IMPORTS TO PICK UP IN 2H 2025-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel will be sending more natural gas our way next year:<\/strong> Israeli exports of natural gas to Egypt are set to rise 300 mn cf\/d to 1.5 bn cf\\d starting from 2H 2025, <a target=\"_blank\" href=\"https:\/\/cnnbusinessarabic.com\/energy\/58337\/%D9%85%D8%B5%D8%AF%D8%B1-%D8%A5%D8%B3%D8%B1%D8%A7%D8%A6%D9%8A%D9%84-%D8%AA%D8%B9%D8%AA%D8%B2%D9%85-%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D8%B5%D8%A7%D8%AF%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D8%BA%D8%A7%D8%B2-%D8%A5%D9%84%D9%89-%D9%85%D8%B5%D8%B1-%D9%81%D9%8A-%D8%A7%D9%84%D9%86%D8%B5%D9%81-%D8%A7%D9%84%D8%AB%D8%A7%D9%86%D9%8A-%D9%85%D9%86-2025\" style=\"\" rel=\"noopener\">CNN Arabic<\/a> reported, citing an unnamed source it says has knowledge of the matter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> The Israeli Energy Ministry greenlit an agreement in February to increase its gas exports to Egypt from Chevron\u2019s offshore Tamar field three-fold starting July 2025 and carrying on for the next 11 years.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-israel-relations\/\">Egypt-Israel relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-ministry\/\">Oil Ministry<\/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=\"619052\" 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=\"619052\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/b-investments-to-soon-snap-up-a-70-stake-in-orascom-financial-holding-plus-al-ahly-capital-holding-acquires-51-stake-in-easy-lease\/\">\r\n                            B Investments to soon snap up a 70% stake in Orascom Financial Holding. PLUS: Al Ahly Capital Holding acquires 51% stake in Easy Lease                        <\/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\/24\/b-investments-to-soon-snap-up-a-70-stake-in-orascom-financial-holding-plus-al-ahly-capital-holding-acquires-51-stake-in-easy-lease\/\" 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\/24\/b-investments-to-soon-snap-up-a-70-stake-in-orascom-financial-holding-plus-al-ahly-capital-holding-acquires-51-stake-in-easy-lease\/')\">\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\/24\/b-investments-to-soon-snap-up-a-70-stake-in-orascom-financial-holding-plus-al-ahly-capital-holding-acquires-51-stake-in-easy-lease\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=B Investments to soon snap up a 70% stake in Orascom Financial Holding. PLUS: Al Ahly Capital Holding acquires 51% stake in Easy Lease&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/b-investments-to-soon-snap-up-a-70-stake-in-orascom-financial-holding-plus-al-ahly-capital-holding-acquires-51-stake-in-easy-lease\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/b-investments-to-soon-snap-up-a-70-stake-in-orascom-financial-holding-plus-al-ahly-capital-holding-acquires-51-stake-in-easy-lease\/&title=B Investments to soon snap up a 70% stake in Orascom Financial Holding. PLUS: Al Ahly Capital Holding acquires 51% stake in Easy Lease\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=B+Investments+to+soon+snap+up+a+70%25+stake+in+Orascom+Financial+Holding.+PLUS%3A+Al+Ahly+Capital+Holding+acquires+51%25+stake+in+Easy+Lease+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F04%2F24%2Fb-investments-to-soon-snap-up-a-70-stake-in-orascom-financial-holding-plus-al-ahly-capital-holding-acquires-51-stake-in-easy-lease%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\/24\/b-investments-to-soon-snap-up-a-70-stake-in-orascom-financial-holding-plus-al-ahly-capital-holding-acquires-51-stake-in-easy-lease\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1707.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"619053\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/b-investments-to-soon-snap-up-a-70-stake-in-orascom-financial-holding-plus-al-ahly-capital-holding-acquires-51-stake-in-easy-lease\/1707-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1707.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1707.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1707.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1707.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-619052\" class=\"content-area-description single-story post-619052 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-al-ahly-capital-holding tag-al-ahly-pharos tag-b-investments tag-enterpriseam tag-ma-watch tag-orascom-financial-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.20a2d1b9-532c-4db1-ad3a-aadbe78ee770.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Financial services firms are high in demand<\/strong>, with B Investments pressing on with its 70% acquisition of Orascom Financial Holding and Al Ahly Capital Holding buying up a majority share in El Sewedy Capital\u2019s financial leasing firm Easy Lease.<\/p>\n<p class=\"tag-border-left\">B INVESTMENTS\u2019 BOARD APPROVES SHARE CAPITAL INCREASE AHEAD OF OFH ACQUISITION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>We\u2019re nearing the finish line of B Investments\u2019 OFH acquisition: <\/strong>Private equity firm B Investments\u2019 board yesterday approved a decision to increase the company\u2019s share capital ahead of its share swap agreement with Orascom Financial Holding (OFH), the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1667.pdf\" style=\"\" rel=\"noopener\">disclosure<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1667.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. The company will issue some 58.3 mn shares at a value of EGP 5 per share \u2014 raising its capital from EGP 800 mn to some EGP 1.09 bn, according to our calculations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>B Investments is snapping up a majority stake in OFH<\/strong>, after owners of some 3.3 bn shares\u2014 a roughly 70% stake in the company \u2014 have responded to B Investments\u2019 MTO for up to 90% of OFH, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1663.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> B Investments will now need to complete the share swap \u2014 its board had agreed to a share swap ratio of one B Investments share to 56.76 OFH shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the making since last summer:<\/strong> B Investments had approved a plan to submit the MTO back in June, but requested a deadline extension in September.<\/p>\n<p class=\"tag-border-left\">EASY LEASE GETS A NEW MAJORITY OWNER-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Ahly Capital Holding acquires 51% stake in <\/strong><strong><a target=\"_blank\" href=\"https:\/\/easyleaseegypt.com\/\" style=\"\" rel=\"noopener\">Easy Lease<\/a><\/strong>: Al Ahly Capital Holding, the private equity arm of the National Bank of Egypt, has purchased 51% \u2014 or 102 mn shares \u2014 of local financial leasing services provider Easy Lease from El Sewedy Capital, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1699.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The value of the transaction was not disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new stakeholder structure: <\/strong>Al Ahly Capital Holding now holds a 51% stake in the firm, Elsewedy Holding holds a 47% stake, and the co-founder Ahmed El Kholy owns a 2% stake.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The advisors:<\/strong> Our friends at Grant Thornton acted as the due diligence advisor for financial and tax matters, while Adsero Ragy Soliman &amp; Partners acted as El Sewedy Capital\u2019s legal advisor and ALC Alieldean Weshahi &amp; Partners was Al Ahly Capital Holding\u2019s legal advisor. Al Ahly Pharos Investment Banking acted as sole financial advisor and broker on the transaction, while Ahly Pharos Securities Brokerage was the sole intermediary.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-ahly-capital-holding\/\">Al Ahly Capital Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-ahly-pharos\/\">Al Ahly Pharos<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/b-investments\/\">B Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-financial-holding\/\">Orascom Financial Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"619054 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=\"619054\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/619054\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-619054\" class=\"content-area-description single-story post-619054 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:\/\/ak-ships.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1642.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"619055\" 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=\"619055\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/ten-egypt-based-tech-startups-clinch-awards-from-value-makers-studio\/\">\r\n                            Ten Egypt-based tech startups clinch awards from Value Makers Studio                        <\/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\/24\/ten-egypt-based-tech-startups-clinch-awards-from-value-makers-studio\/\" 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\/24\/ten-egypt-based-tech-startups-clinch-awards-from-value-makers-studio\/')\">\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\/24\/ten-egypt-based-tech-startups-clinch-awards-from-value-makers-studio\/\">\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=Ten Egypt-based tech startups clinch awards from Value Makers Studio&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/ten-egypt-based-tech-startups-clinch-awards-from-value-makers-studio\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/ten-egypt-based-tech-startups-clinch-awards-from-value-makers-studio\/&title=Ten Egypt-based tech startups clinch awards from Value Makers Studio\">\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=Ten+Egypt-based+tech+startups+clinch+awards+from+Value+Makers+Studio+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F04%2F24%2Ften-egypt-based-tech-startups-clinch-awards-from-value-makers-studio%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\/24\/ten-egypt-based-tech-startups-clinch-awards-from-value-makers-studio\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1700.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"619056\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/ten-egypt-based-tech-startups-clinch-awards-from-value-makers-studio\/1700-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1700.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1700.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1700.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1700.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-619055\" class=\"content-area-description single-story post-619055 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam tag-startup-watch tag-startups tag-value-makers-studio 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\/.c7c6687e-56ee-47c5-92c6-835999403cae.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egyptian st<\/strong><strong>artups shine in Saudi startup accelerator program:<\/strong> A total of 10 Egypt-based tech startups clinched awards in the Value Makers Studio (VMS) Bridge program, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/04\/10-egyptian-startups-win-vms-bridge-prizes-english\" style=\"\" rel=\"noopener\">press release<\/a> picked up by Wamda. The <a target=\"_blank\" href=\"https:\/\/vms.sa\/\" style=\"\" rel=\"noopener\">program<\/a>, which wrapped up last Saturday, is designed to give seed and pre-series A startups exposure to the Saudi market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Five of the startups landed a four-day trip to KSA for a chance to meet local investors<\/strong>, including Digital ins. platform <a target=\"_blank\" href=\"https:\/\/amanleek.com\/en\/\" style=\"\" rel=\"noopener\">Amanleek<\/a>, online events services <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/farahy\/about\/\" style=\"\" rel=\"noopener\">Farahy<\/a>, edtech and job placement platforms <a target=\"_blank\" href=\"https:\/\/sprints.ai\/\" style=\"\" rel=\"noopener\">Sprints<\/a> and <a target=\"_blank\" href=\"https:\/\/career-180.com\/en\/home\" style=\"\" rel=\"noopener\">Career180<\/a>, in addition to e-commerce and dropshipping company <a target=\"_blank\" href=\"https:\/\/jamaykaa.com\/\" style=\"\" rel=\"noopener\">Jamaykaa<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Neqabty<\/strong><strong> and <\/strong><strong>Notchnco<\/strong><strong> will be able to operate here at no cost: <\/strong>E-commerce platforms <a target=\"_blank\" href=\"https:\/\/notchnco.com\/\" style=\"\" rel=\"noopener\">Notchnco<\/a> and <a target=\"_blank\" href=\"https:\/\/neqabty.com\/landing\" style=\"\" rel=\"noopener\">Neqabty<\/a> \u2014 both graduates of the <a target=\"_blank\" href=\"http:\/\/ec.aast.edu\/rally-accelerate.php\" style=\"\" rel=\"noopener\">Rally Entrepreneurship Accelerator<\/a> \u2014 will receive licenses to operate in the kingdom at no cost.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And farmer-focused fintech <\/strong><strong><a target=\"_blank\" href=\"https:\/\/agricash.app\/\" style=\"\" rel=\"noopener\">AgriCash<\/a><\/strong><strong>, agritech firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/renile.net\/\" style=\"\" rel=\"noopener\">ReNile<\/a><\/strong><strong>, and edtech and HR services<\/strong><strong> platform <\/strong><strong><a target=\"_blank\" href=\"https:\/\/vcc.icareerhub.com\/\" style=\"\" rel=\"noopener\">ICareer<\/a><\/strong> received an award from Saudi NGO Arweqah Alreyadah and access to its training program.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/value-makers-studio\/\">Value Makers Studio<\/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=\"619057\" 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=\"619057\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/moataz-elkasaby-has-been-named-al-baraka-bank-coo\/\">\r\n                            Moataz Elkasaby has been named Al Baraka Bank COO                        <\/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\/24\/moataz-elkasaby-has-been-named-al-baraka-bank-coo\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li 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COO&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/moataz-elkasaby-has-been-named-al-baraka-bank-coo\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/moataz-elkasaby-has-been-named-al-baraka-bank-coo\/&title=Moataz Elkasaby has been named Al Baraka Bank COO\">\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=Moataz+Elkasaby+has+been+named+Al+Baraka+Bank+COO+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F04%2F24%2Fmoataz-elkasaby-has-been-named-al-baraka-bank-coo%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\/24\/moataz-elkasaby-has-been-named-al-baraka-bank-coo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1709.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"619058\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/moataz-elkasaby-has-been-named-al-baraka-bank-coo\/1709-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1709.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1709.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1709.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1709.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-619057\" class=\"content-area-description single-story post-619057 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-al-baraka-bank tag-enterpriseam tag-moves 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\/.3d352102-7b9c-469b-8421-b856a1430b9b.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Baraka appoints COO:<\/strong> Al Baraka Bank has appointed Moataz Elkasaby (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/moataz-elkasaby-60037737\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>)as its chief operating officer, the bank said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1677.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. Elkasaby\u2019s career spans nearly thirty years in the traditional and Islamic banking sectors in Egypt, Saudi Arabia, Kuwait, and Qatar including key positions at the Central Bank of Egypt, CIB, Citibank, and the Arab National Bank. Through his new role, Elkasaby will focus on Al Baraka\u2019s expansion within the Egyptian market, the statement said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-baraka-bank\/\">Al Baraka Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/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=\"619059\" 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=\"619059\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/mnt-halan-featured-twice-on-global-finances-list-of-most-innovative-fintech-companies\/\">\r\n                            Egypt\u2019s MNT-Halan takes two awards from Global Finance                        <\/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\/24\/mnt-halan-featured-twice-on-global-finances-list-of-most-innovative-fintech-companies\/\" 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\/24\/mnt-halan-featured-twice-on-global-finances-list-of-most-innovative-fintech-companies\/')\">\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\/24\/mnt-halan-featured-twice-on-global-finances-list-of-most-innovative-fintech-companies\/\">\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=MNT-Halan featured twice on Global Finance\u2019s list of most innovative fintech companies&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/mnt-halan-featured-twice-on-global-finances-list-of-most-innovative-fintech-companies\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/mnt-halan-featured-twice-on-global-finances-list-of-most-innovative-fintech-companies\/&title=MNT-Halan featured twice on Global Finance\u2019s list of most innovative fintech companies\">\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=MNT-Halan+featured+twice+on+Global+Finance%E2%80%99s+list+of+most+innovative+fintech+companies+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F04%2F24%2Fmnt-halan-featured-twice-on-global-finances-list-of-most-innovative-fintech-companies%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\/24\/mnt-halan-featured-twice-on-global-finances-list-of-most-innovative-fintech-companies\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1711.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"619060\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/mnt-halan-featured-twice-on-global-finances-list-of-most-innovative-fintech-companies\/1711-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1711.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1711.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1711.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1711.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-619059\" class=\"content-area-description single-story post-619059 post type-post status-publish format-standard has-post-thumbnail hentry category-kudos tag-enterpriseam tag-fintech tag-global-finance tag-mnt-halan 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\/.b8c0c537-8e47-4f2b-8c1d-9ed8d99f5d11.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>MNT-Halan was named the most innovative fintech company in the Middle East&nbsp;<\/strong><strong>and Africa <\/strong>in 2024 by <a target=\"_blank\" href=\"https:\/\/gfmag.com\/award\/press-release-global-finance-names-the-innovators-2024-most-innovative-banks-and-most-innovative-fintech-companies\/\" style=\"\" rel=\"noopener\">Global Finance<\/a>, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1641.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The company was the only one on the list to secure two awards for separate regions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Two products were in the spotlight:<\/strong> MNT-Halan highlighted two of its products in its submission \u2014 the Halan superapp, which offers a range of financial solutions from consumer finance to investment products, and Neuron, the core banking system it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6d2b3d87-c61e-49be-90dc-52969d248e48\" style=\"\" rel=\"noopener\">rolled out in 2021<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MNT is a frequent guest in our Kudos section: <\/strong>The company was on the Financial Times\u2019 list of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0e480ae-a472-4733-822e-209d50ddbb16\" style=\"\" rel=\"noopener\">Africa's fastest growing companies<\/a> in 2023 and Forbes' 2023 list of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4da073b8-3e70-4456-990c-0266252f3bb9\" style=\"\" rel=\"noopener\">top 30 fintech companies in the Middle East<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/global-finance\/\">Global Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mnt-halan\/\">MNT-Halan<\/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=\"619061 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=\"619061\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/619061\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-619061\" class=\"content-area-description single-story post-619061 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/186.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"619062\" 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=\"619062\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/next-fiscal-years-draft-state-budget-dominated-the-airwaves\/\">\r\n                            Next fiscal year\u2019s draft state budget dominated the airwaves                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/next-fiscal-years-draft-state-budget-dominated-the-airwaves\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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href=\"https:\/\/x.com\/intent\/post?text=Next fiscal year\u2019s draft state budget dominated the airwaves&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/next-fiscal-years-draft-state-budget-dominated-the-airwaves\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/next-fiscal-years-draft-state-budget-dominated-the-airwaves\/&title=Next fiscal year\u2019s draft state budget dominated the airwaves\">\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=Next+fiscal+year%E2%80%99s+draft+state+budget+dominated+the+airwaves+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F04%2F24%2Fnext-fiscal-years-draft-state-budget-dominated-the-airwaves%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\/24\/next-fiscal-years-draft-state-budget-dominated-the-airwaves\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1743.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"619063\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/next-fiscal-years-draft-state-budget-dominated-the-airwaves\/1743-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1743.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1743.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1743.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1743.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-619062\" class=\"content-area-description single-story post-619062 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-economy tag-enterpriseam tag-food-prices tag-last-nights-talk-shows tag-mohamed-maait tag-state-budget wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.a1e69c93-b389-4b78-931a-b927a22e7c9a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The draft state budget led the conversation on the talk shows last night, <\/strong>after Finance Minister Mohamed Maait presented the draft budget for the next fiscal year to the House of Representatives earlier in the day. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe government has linked financial performance to technical performance within the<\/strong><strong> ministries \u2014 this is a systematic change,\u201d<\/strong> Ahmed El Sayed, Finance Ministry undersecretary and head of the Central Administration for Public Revenue Budgeting, told talk show host Sherif Amer on Yahduth Fi Masr (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=ApAEALUsn6I\" style=\"\" rel=\"noopener\">watch, runtime: 6:31<\/a>). \u201cThe budget reflects the government\u2019s concern for citizens.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe government is on its way to achieving more comprehensiveness of the budget \u2014<\/strong><strong>these changes are completely unprecedented,<\/strong>\u201d said Mostafa Salem, a representative from the Budget and Planning Committee on El Hayah El Youm (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=_qHblc__tZQ\" style=\"\" rel=\"noopener\">watch, runtime: 14:07<\/a>), referring to the newly-introduced <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/146b3145-ac54-4832-be15-9e2799b474bc\/\" style=\"\" rel=\"noopener\">Unified Budget Act<\/a>, which combines the budgets of all 59 of the state\u2019s economic bodies and the state budget. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** We have a deep dive into the ins and outs of the draft budget in our lead story in the<\/strong><strong> news well above.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH NOTING- <\/strong><strong>\u201cLet it rot\u201d is a growing initiative to boycott fish: <\/strong>A new campaign to boycott buying fish amid a rise in merchants\u2019 prices also got airtime last night. The project was first launched in Port Said before gaining traction in seven other governorates including Alexandria, Suez, and Ismailia. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And it looks like it\u2019s working:<\/strong> \"Fish prices in Port Said Governorate have begun to decline since the launch of the initiative. A kilo of fish currently starts at EGP 50, after previously soaring to record levels of EGP 250 per kilo,\u201d said boycott coordinator Wessam El Saftit in a phone call with Azza Mustafa on Salet El Tahrir(<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=gMHtxVjg8-4\" style=\"\" rel=\"noopener\">watch, runtime: 8:01<\/a>). \u201cThe boycott will run until Sham El Nessim,\u201d El Safty added. The topic also got airtime on Yahduth Fi Masr (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=EagCYKD5qBI\" style=\"\" rel=\"noopener\">watch, runtime: 8:33<\/a>) and El Hayah El Youm (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=PREk1pVSkn0\" style=\"\" rel=\"noopener\">watch, runtime: 4:53<\/a>).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food-prices\/\">food prices<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-budget\/\">state budget<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"619064\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/egx-listed-companies-can-now-buy-or-sell-treasury-shares-on-the-open-or-secondary-markets-plus-cbe-to-start-accepting-all-bids-from-weekly-fixed-rate-main-operation-auctions-belmazad-launches-onlin\/\">\r\n                            EGX-listed companies can now buy or sell treasury shares on the open or secondary markets. PLUS: CBE to start accepting all bids from weekly fixed-rate main operation auctions, Belmazad launches online real estate auction platform                        <\/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\/24\/egx-listed-companies-can-now-buy-or-sell-treasury-shares-on-the-open-or-secondary-markets-plus-cbe-to-start-accepting-all-bids-from-weekly-fixed-rate-main-operation-auctions-belmazad-launches-onlin\/\" 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\/24\/egx-listed-companies-can-now-buy-or-sell-treasury-shares-on-the-open-or-secondary-markets-plus-cbe-to-start-accepting-all-bids-from-weekly-fixed-rate-main-operation-auctions-belmazad-launches-onlin\/')\">\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\/24\/egx-listed-companies-can-now-buy-or-sell-treasury-shares-on-the-open-or-secondary-markets-plus-cbe-to-start-accepting-all-bids-from-weekly-fixed-rate-main-operation-auctions-belmazad-launches-onlin\/\">\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=EGX-listed companies can now buy or sell treasury shares on the open or secondary markets. PLUS: CBE to start accepting all bids from weekly fixed-rate main operation auctions, Belmazad launches online real estate auction platform&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/egx-listed-companies-can-now-buy-or-sell-treasury-shares-on-the-open-or-secondary-markets-plus-cbe-to-start-accepting-all-bids-from-weekly-fixed-rate-main-operation-auctions-belmazad-launches-onlin\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/egx-listed-companies-can-now-buy-or-sell-treasury-shares-on-the-open-or-secondary-markets-plus-cbe-to-start-accepting-all-bids-from-weekly-fixed-rate-main-operation-auctions-belmazad-launches-onlin\/&title=EGX-listed companies can now buy or sell treasury shares on the open or secondary markets. PLUS: CBE to start accepting all bids from weekly fixed-rate main operation auctions, Belmazad launches online real estate auction platform\">\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=EGX-listed+companies+can+now+buy+or+sell+treasury+shares+on+the+open+or+secondary+markets.+PLUS%3A+CBE+to+start+accepting+all+bids+from+weekly+fixed-rate+main+operation+auctions%2C+Belmazad+launches+online+real+estate+auction+platform+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F04%2F24%2Fegx-listed-companies-can-now-buy-or-sell-treasury-shares-on-the-open-or-secondary-markets-plus-cbe-to-start-accepting-all-bids-from-weekly-fixed-rate-main-operation-auctions-belmazad-launches-onlin%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\/24\/egx-listed-companies-can-now-buy-or-sell-treasury-shares-on-the-open-or-secondary-markets-plus-cbe-to-start-accepting-all-bids-from-weekly-fixed-rate-main-operation-auctions-belmazad-launches-onlin\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2470.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"619066\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/egx-listed-companies-can-now-buy-or-sell-treasury-shares-on-the-open-or-secondary-markets-plus-cbe-to-start-accepting-all-bids-from-weekly-fixed-rate-main-operation-auctions-belmazad-launches-onlin\/2470-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2470.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2470.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2470.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2470.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-619065\" class=\"content-area-description single-story post-619065 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-banking tag-capital-markets tag-central-bank-of-egypt tag-egx tag-enterpriseam tag-financial-regulatory-authority tag-monetary-policy 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\/.d0688243-a7b5-4dcb-9283-52e1e9752874.mp3\"><\/audio><\/figure>\n<p class=\"tag-border-left\">CAPITAL MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Efforts to increase treasury shares trading: <\/strong>EGX-listed companies can buy or sell treasury shares on the open or secondary markets, under recent <a target=\"_blank\" href=\"https:\/\/fra.gov.eg\/fra_news\/%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d8%b7%d9%88%d8%b1-%d9%82%d9%88%d8%a7%d8%b9%d8%af-%d8%a7%d9%84%d9%82%d9%8a%d8%af-%d9%84%d8%aa%d9%8a\/\" style=\"\" rel=\"noopener\">regulatory amendments<\/a> issued by the Financial Regulatory Authority (FRA). The amendments aim to increase demand for treasury shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The FRA last year <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c52fdf63-bb52-4200-87e9-c4f4a3683486\" style=\"\" rel=\"noopener\">announced new rules<\/a> that make it easier for EGX-listed companies to perform share buybacks on the open market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>Companies sometimes buy back their own shares from investors, often in a bid to boost their share prices. Shares bought in a buyback then become treasury shares. Companies can also sell treasury shares back to the market to raise capital. The amendments aim to make it easier for companies to buy and sell treasury shares when they want to prop-up share prices, encourage trading in their shares, or access funds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Going digital: <\/strong>The FRA also made amendments that will now allow individuals to remotely attend the ordinary and extra-ordinary general assembly meetings of private ins. funds, a second <a target=\"_blank\" href=\"https:\/\/fra.gov.eg\/fra_news\/%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d8%aa%d9%8a%d8%ad-%d8%ad%d8%b6%d9%88%d8%b1-%d8%a7%d9%84%d8%ac%d9%85%d8%b9%d9%8a%d8%a9-%d8%a7%d9%84\/\" style=\"\" rel=\"noopener\">statement<\/a> said.<\/p>\n<p class=\"tag-border-left\">BANKING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Central Bank of Egypt will start accepting all the bids that come in during its<\/strong><strong> weekly fixed-rate main operation auction<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1671.pdf\" style=\"\" rel=\"noopener\">circular (pdf)<\/a>. \u201cAuctions are allocated in the form of an American Auction. Bids at maximum accepted rates are allotted pro-rata relative to the auction total accepted amount,\u201d according to <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/auctions\/auctions-overview\" style=\"\" rel=\"noopener\">the CBE\u2019s website<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>The switch from allocation to full allotment means that the CBE will now accept all the bids submitted by commercial banks during its weekly fixed-rate tenders. Previously, only a portion of the bids was accepted based on criteria outlined by the bank. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The first auction under the new system wrapped yesterday: <\/strong>The CBE will be withdrawing EGP 460.8 bn of surplus liquidity this week, with a return of 27.75%, from the weekly bid that took place yesterday, according to <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/62966\/%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A-%D9%8A%D8%B3%D8%AD%D8%A8-461-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AC%D9%86%D9%8A%D9%87-%D9%85%D9%86-%D8%B3%D9%8A%D9%88%D9%84%D8%A9-%D8%A7%D9%84%D8%A8%D9%86%D9%88%D9%83-%D9%87%D8%B0%D8%A7-%D8%A7%D9%84%D8%A3%D8%B3%D8%A8%D9%88%D8%B9\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. <\/p>\n<p class=\"tag-border-left\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Globeleq snaps up 48% stake in Aswan solar PV plant<\/strong>: London-based Africa-focused energy company <a target=\"_blank\" href=\"https:\/\/globeleq.com\/\" style=\"\" rel=\"noopener\">Globeleq<\/a> has acquired a 48.3% stake in Egypt\u2019s Winnergy solar PV plant in the Benban complex in Aswan, according to a <a target=\"_blank\" href=\"https:\/\/globeleq.com\/globeleq-acquires-the-25-mwp-winnergy-solar-pv-plant-in-egypt\/\" style=\"\" rel=\"noopener\">statement<\/a> from the company. The shares were purchased from Italy\u2019s <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/lt-enerray\/\" style=\"\" rel=\"noopener\">Enerray<\/a>, but the value of the transaction was not disclosed. Egyptian electrical engineering company Gila Al Tawakol Electric is still the co-shareholder and operations contractor for the Winnergy plant.<\/p>\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Homes under the hammer: <\/strong>Auction platform <a target=\"_blank\" href=\"https:\/\/belmazad.com\/?fbclid=IwZXh0bgNhZW0CMTAAAR3IwkdiOGNyJHLDAn7gmYXjWg2k-TBtw6nLd6JLnUABK-ccZaUSCvYlz7I_aem_AXwmDgQ6QKSA6MccACNyH7i_ut1j1J7wotM-nWa4s46Ywvxx7ONS8iEawP5GycCmNltjReHFNV0gR7ALposHNA7h\" style=\"\" rel=\"noopener\">Belmazad<\/a> has launched an online real estate auction platform with the aim of attracting entities like banks and holding companies looking to sell their assets \u201cat the highest value,\u201d the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1694.pdf\" style=\"\" rel=\"noopener\">press release<\/a>. The platform will host three-day auctions \u2014 participants can register with a refundable deposit and submit offers from around the world. The platform\u2019s automated services will ensure \u201cfair competition and transparency\u201d for buyers.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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<\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"619067\" 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=\"619067\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/shell-totalenergies-eye-ruwais-stake\/\">\r\n                            Shell, TotalEnergies in talks to acquire Ruwais stake from Adnoc                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n 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                <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-619067\" class=\"content-area-description single-story post-619067 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-adnoc tag-adnoc-gas tag-energy tag-enterpriseam tag-planet-finance tag-shell tag-totalenergies 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\/.65eb02ff-6946-484f-8077-bf2f28ca0124.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Everyone wants a piece of Ruwais: <\/strong>UK oil and gas giant Shell and French TotalEnergies are reportedly vying for a stake in Abu Dhabi National Oil Company\u2019s (Adnoc) Ruwais liquefied natural gas (LNG) project, as well as purchasing its LNG output, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-23\/shell-totalenergies-in-talks-for-stakes-in-new-adnoc-lng-plant?srnd=all\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing sources familiar with the talks. In addition to being among the bidders for a stake in the LNG project, Japanese trading firm <a target=\"_blank\" href=\"https:\/\/www.mitsui.com\/\" style=\"\" rel=\"noopener\">Mitsui &amp; Co.<\/a> is also reportedly negotiating to purchase LNG from Ruwais and snag a portion of the project\u2019s equity, according to Bloomberg. However, no agreement had been reached as of yet, the firm said, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/mitsui-says-no-decision-yet-adnoc-lng-project-tie-up-after-nikkei-report-2024-04-23\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know so far:<\/strong> Mitsui\u2019s statement came in response to Japanese newspaper Nikkei reporting that Mitsui has agreed to invest \u201c[JPY] tens of bns\u201d to acquire 10% of the USD 7 bn Ruwais project, with Adnoc retaining 60%. The newswire also name-checked BP, Shell and TotalEnergies as potential investors in the plant.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adnoc might give the bids a pass: <\/strong>The state-owned oil giant might opt to not sell equity in Ruwais as it \u201cdoesn\u2019t require investments from the energy companies,\u201d Bloomberg\u2019s sources say. Adnoc intends to use its own funds to expand production at the Ruwais LNG project, with exports from the Ruwais site to commence in 2028. The project is expected to more than double the company\u2019s LNG production capacity to 15 mn metric tons per year from 6 mn.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where things stand with the Ruwais plant:<\/strong> Adnoc is nearing a final investment decision on the project, expected \u201cas soon as next month,\u201d according to Bloomberg\u2019s sources. The business information service had earlier <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9b82da7f-5abf-4706-9357-0842a9172fa5\/#:~:text=%232%2D%20The%20state,capacity%2C%20in%202028.\" style=\"\" rel=\"noopener\">reported<\/a> that the oil firm plans to reach a final investment decision on the project sometime in 1H 2024. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> Adnoc\u2019s gas arm <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bf7bd619-f88a-4b27-a210-0c319a28d66f\/#:~:text=The%20game%20plan,Al%20Jaber%20said.\" style=\"\" rel=\"noopener\">plans to acquire the Ruwais LNG plant<\/a> to help double its production capacity, and cater its product offering to the increased demand for lower-carbon solutions globally. With this acquisition, Adnoc Gas aims to double its LNG production capacity by 2028, as it looks to increase LNG export volumes to serve the growing global market, with the International Energy Agency expecting <a target=\"_blank\" href=\"https:\/\/www.iea.org\/news\/global-gas-demand-set-for-stronger-growth-in-2024-despite-heightened-geopolitical-uncertainty\" style=\"\" rel=\"noopener\">2.5% y-o-y growth<\/a> in global gas demand in 2024 as a transition fuel.<\/p><p class=\"tag-border-left\">MARKETS THIS MORNING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are solidly in the green this morning<\/strong>, with the Nikkei and Korea\u2019s Kospi each up 2% or more after Wall Street posted a second day of gains yesterday, snapping its losing streak. <strong>Futures are in the green<\/strong> as far as the eye can see, pointing to a stronger opening in both major European markets and on Wall Street later today.<\/p><p><a target=\"_blank\" id=\"t.bd969caebe48c2885e4ef149624c4e2d60b12c8b\" 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<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\">26,777<\/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\">-4.9% (YTD: +7.6%)<\/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>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 47.99<\/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 48.13<\/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 48.00<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.10<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,484<\/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: +4.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,051<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: -5.5%)<\/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>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\">4,166<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +2.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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:1.0;orphans:2;widows:2;text-align:left\">5,070<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2% (YTD: +6.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,046<\/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: +4.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,008<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.4% (YTD: +10.8%)<\/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 88.42<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 1.83<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,336.60<\/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>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 66,438.60<\/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: +57.1%)<\/p>\n<\/td>\n<\/tr>\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 4.9% at yesterday\u2019s close<\/strong> on turnover of EGP 3.7 bn (26.3% below the 90-dayaverage). Local investors were net sellers. The index is up 7.6% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Oriental Weavers (+0.5%). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Fawry (-8.6%), Orascom Development Egypt (-8.6%), and Alexandria Mineral Oils Company (-8.0%).<\/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\/adnoc\/\">ADNOC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/adnoc-gas\/\">Adnoc Gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/shell\/\">Shell<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/totalenergies\/\">TotalEnergies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"619069\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">11<\/div>\r\n    \r\n                        <p class=\"f-graphik\">HARDHAT<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/how-can-egypt-boost-real-estate-exports-efforts\/\"> \r\n                            How can Egypt fast-track real estate exports?<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/how-can-egypt-boost-real-estate-exports-efforts\/\" 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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Industry insiders who spoke to Enterprise weighed in on how Egypt can boost real estate exports. However, several real estate developers voiced reservations regarding the government\u2019s approach at a recent cabinet discussion, participants told Enterprise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Developers want their share in FX too:<\/strong> The proposed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7d3db6c7-18f2-48ef-9f79-fa8fc3884e19\" style=\"\" rel=\"noopener\">real estate export initiative<\/a> would allow non-residents to own homes by paying 100% of the property price in FX upfront to the Finance Ministry in exchange for an equivalent bank deposit that would be refunded after ten years. Under the scheme, developers would get paid by the government in local currency, to which a lot of them voiced their objection, saying that they need hard currency to cover the cost of input imports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Here\u2019s the lowdown on how Egypt can attract more non-resident buyers to its real estate&nbsp;<\/strong><strong>market:<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Government support is a must for successful real estate export<\/strong>, Association of Developers of New Cairo Chairman Mohamed Albostany told us, adding that the sector requires more financial and procedural support from the state to flourish. Real estate developers are currently facing significant financing pressures and need soft financing to deliver their projects and have them ready for real estate export initiatives, Albostany said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Could PPP be the key to increasing real estate exports?&nbsp;<\/strong>Egypt registers less than USD1 bn on average in annual real estate exports, the Federation of Egyptian Industries Real Estate Development Chamber head Tarek Shoukry told Enterprise. Egypt could increase this figure to USD 3-4 bn per year if it doubled down on public-private partnerships, Shoukry said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Looking at Egypt's large number of migrants:<\/strong> Reaching Egypt\u2019s real estate export goals should not be difficult, Shoukry thinks. The government should look into easing citizenship laws to lure in investments from the 9 mn foreigners Egypt hosts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The gov\u2019t has already eased citizenship requirements for investors, <\/strong>whereby the latter can now obtain citizenship in exchange for buying a USD 300k home, down from USD 500k, per recent amendments to the citizenship by investment program. Meanwhile, investors can also obtain citizenship in exchange for making a USD 350k investment in a project, down from USD 400k. Investors are also no longer required to own 40% of the project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Int\u2019l students are a key target market that could be drawn in quickly,<\/strong> Real Estate Development Division member and Ammar Real Estate Group Chairwoman Abeer Essam told us, noting that Egypt has some 26k foreign students.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- The growth of outsourcing services is a boon: <\/strong>Egypt could capitalize on the significant growth it sees in the outsourcing sector \u2014 which is driven by a high percentage of education youth and a weaker EGP \u2014 as more companies from Europe, the Gulf, and the US open new back offices and \"kitchens\" in Egypt, Redcon Properties Chairman Tarek El Gamal said <a target=\"_blank\" href=\"https:\/\/www.instagram.com\/reel\/C55ovGlIHJI\/\" style=\"\" rel=\"noopener\">on the sidelines of a session<\/a>held recently by the cabinet's Information and Decision Support Center's intellectual forum. This growth will help facilitate real estate exports, he thinks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- The greener, the better: <\/strong>The expansion of green administrative buildings would lure more companies to open new back offices in Egypt, as they cut operating costs by 30-40%, El Gamal said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#7- Retirement tourism: <\/strong>The government is gearing up to launch a marketing campaign for retirement tourism in the near future, Deputy Housing Minister for Technical Affairs Abdul Khaleq Ibrahim told Enterprise, adding that security and stability in Egypt would make it conducive for this kind of tourism, which, in turn, would bolster real estate exports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#8- Attracting real estate funds:<\/strong> Egypt is studying the introduction of incentives to help attract real estate funds to the country, Mortgage Finance Fund Head Mai Abdel Hamid told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#9- Could the real estate exchange facilitate real estate exports? <\/strong>Egypt is working on a real estate exchange, which could launch as early as 1H 2024, Ayman Taha, the media advisor to the EGX\u2019s chairman, told us in October.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Efforts to push for new initiatives are already underway: <\/strong>Real Estate Development Chamber at the Federation of Egyptian Industries will submit a list of proposals to the cabinet aimed at boosting real estate exports, the division\u2019s executive director Osama Saad El Din told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/04\/23\/1785611\" style=\"\" rel=\"noopener\">Al Borsa<\/a> in a story published yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The proposals include<\/strong> allowing foreigners and Egyptian expats to enter into USD rent-to-own contracts, the establishment of a company to oversee the sale of real estate to customers abroad, and a new online platform listing units for foreign buyers.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>African AI center to be based in Egypt:<\/strong> Egypt has <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0bVkDejzvQiEfWaRTGaDzGuyCZbm699qzQiTqAtf3KSNDPzbpDjFdWLtZ6hLmoaugl\" style=\"\" rel=\"noopener\">inked an agreement<\/a> with Italy to set up an artificial intelligence research center in Egypt this year to serve African countries. <\/li>\n<li><strong>USD 297 mn steel plant to be built in Sokhna: <\/strong>Chinese steel maker Wu\u2019an Xin Feng will set up a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e94fc15f-73fc-4d61-bfad-ade872a7cecf\/\" style=\"\" rel=\"noopener\">USD 297 mn plant<\/a> in the Sokhna Industrial Zone after the Suez Canal Economic Zone (SCZone) allocated the steel maker a 750k sqm land plot under an usufruct agreement.<\/li>\n<li><strong>Tahya Misr 1 container terminal to come online in 2025: <\/strong>The Tahya Misr 1 container terminal will <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/25529e2f-6b21-4444-b88c-dc0b93cf0b1d\/\" style=\"\" rel=\"noopener\">kick off operations in April 2025<\/a>, Prime Minister Moustafa Madbouly said during his visit to the port this week. The terminal will add 3.5 mn container capacity to the port.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hardhat\/\">Hardhat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/outsourcing\/\">outsourcing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span 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     <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-619071\" class=\"content-area-description single-story post-619071 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:400;\">30 April (Tuesday): The Decision Makers Conference takes place at the St. Regis Cairo. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 May (Wednesday): National holiday in observance of Labor Day (TBC) (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-5 May (Thursday-Sunday): Townhall Expo in Riyadh. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5 May (Sunday): Coptic Easter.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 May (Monday): Sham El Nessim (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">19-21 May (Sunday-Tuesday): Egypt International Summit for Digital Transformation and Cybersecurity.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 May (Monday): Malaysian Palm Oil Forum in Cairo, with attendance from Malaysian Plantation and Commodities Minister Johari Abdul Ghani.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 May (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29 May (Wednesday): Virtual launch of Chicago Booth Executive Program.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15-19 June (Saturday-Wednesday): Eid El Adha (TBC) (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29-30 June (Saturday-Sunday): EU-Egypt Investment Conference.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 June (Sunday): June 30 Revolution Day (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">7 July (Sunday): National holiday in observance of Islamic New Year (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">18 July (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23 July (Tuesday): Revolution Day (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-5 September (Monday-Thursday): Egypt International Airshow, El Alamein International Airport.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 September (Sunday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25-26 September (Wednesday - Thursday): The Asian Infrastructure Investment Bank\u2019s (AIIB) 2024 annual meeting, Samarkand, Uzbekistan.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 October (Sunday): Armed Forces Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17 October (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21-27 October (Monday-Sunday): The World Bank and IMF annual meetings.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">April 2024: President Abdel Fattah El Sisi will visit Turkey.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2024: Egyptian-Qatari Joint Supreme Committee.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2024: Opening of the newly developed Pyramids Plateau in Giza.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2024: The government is set to finalize the sale of the Gabal El Zeit wind farm.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">February-May: The Grand Egyptian Museum could officially open to visitors.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">March 2024: The USD 2.7 bn MIDOR Refinery is set to begin full operations. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">May 2024: Egypt to receive USD 20 bn of Ras El Hekma funds.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">May 2024: Arab Finance Ministers\u2019 meeting at Egypt\u2019s administrative capital.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">June 2024: Gov\u2019t expects to finalize sale of Beni Suef combined-cycle power plant.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1H 2024: Gov\u2019t expects to finalize sale of four water desalination plants.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2H 2024: Gov\u2019t to launch the Cairo Ring Road BRT buses.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">November 2024: Egypt to host the World Urban Forum (WUF12).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2024: The launch of the high-speed train line linking Ain Sokhna with Al Alamein City. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2Q 2025: Safaga Terminal 2 to start operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 January-7 February: Egypt to host the African Games<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.<\/span><\/p>\n\n\t<\/div><!-- .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>EGX falls 4.9%. Egypt gets ready for LNG imports. Local startups do us proud<\/p>\n","protected":false},"featured_media":619044,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-619043","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"0bd58ac1-85c7-471b-8d85-11f16b767e02","teaser":"EGX falls 4.9%. Egypt gets ready for LNG imports. Local startups do us proud","photo_url":"https:\/\/ent.news\/2024\/2\/1611.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>Draft state budget gives first real insights into targets, forecasts for FY 2024-25 - 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\/draft-state-budget-gives-first-real-insights-into-targets-forecasts-for-fy-2024-25\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Draft state budget gives first real insights into targets, forecasts for FY 2024-25\" \/>\n<meta property=\"og:description\" content=\"EGX falls 4.9%. Egypt gets ready for LNG imports. 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