{"id":620253,"date":"2024-05-19T00:00:00","date_gmt":"2024-05-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=620253"},"modified":"2025-12-17T05:49:42","modified_gmt":"2025-12-17T05:49:42","slug":"idh-wants-to-delist-from-the-egx","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/idh-wants-to-delist-from-the-egx\/","title":{"rendered":"IDH wants to delist from the EGX"},"content":{"rendered":"<section id=\"620255\" 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=\"620255\">\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\/05\/19\/negotiations-have-kicked-off-on-our-usd-1-2-bn-green-financing-from-the-imf\/\">\r\n                            Egypt has kicked off negotiations with the IMF over a USD 1.2 bn green financing package                        <\/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\/05\/19\/negotiations-have-kicked-off-on-our-usd-1-2-bn-green-financing-from-the-imf\/\" target=\"_blank\">\n                    Open in new tab                    <!-- 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1411.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"620256\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/negotiations-have-kicked-off-on-our-usd-1-2-bn-green-financing-from-the-imf\/1411-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1411.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1411.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1411.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1411.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620255\" class=\"content-area-description single-story post-620255 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-imf 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\/5\/.dea29192-e51d-4551-95b1-fda52603219a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Good morning, friends. <\/strong><span style=\"background-color: transparent;\">We are kicking off the workweek with a packed issue, so let\u2019s jump right in.<\/span><\/p><p class=\"tag-border-left\">WATCH THIS SPACE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- USD 1.2 bn i<\/strong><strong>n green financing in the works:<\/strong> Negotiations have started for Egypt to access USD 1.2 bn in long-term, low-cost climate financing from the IMF's Resilience and Sustainability Facility, the Environment Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EGY.Environment\/posts\/pfbid0hhcEDmEqmj5SPJaD6mWEc4iFJrRwsVdUEBrYujGM3t12fYC6JXz7pnZZvAXFN7zNl\" style=\"\" rel=\"noopener\">said<\/a> yesterday, following a meeting between Minister Yasmine Fouad and IMF mission chief for Egypt Ivanna Hollar. The USD 8 bn expanded facility <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/033d5dd6-d417-4ad7-8154-b113a19b96a7\" style=\"\" rel=\"noopener\">agreement<\/a> in March <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c0f153a1-4a27-4cda-9c1d-6dfc4681517b\/imf-greenlights-the-dispersal-of-usd-820-mn-after-approving-expanded-usd-8-bn-loan-program.-plus:-eu-fastracks-eur-1-bn-of-aid-package\" style=\"\" rel=\"noopener\">opened up the right<\/a> for the country to apply for the additional low-cost climate financing.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Our third loan review with the IMF scheduled for June <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/72695007-0bdb-4085-b04c-093acab38347\/we-could-receive-the-second-tranche-of-our-imf-loan-in-june\" style=\"\" rel=\"noopener\">will also discuss<\/a> the climate financing package, Hollar said in April. \u201cTo qualify, countries need to have in place a strong set of policies that are intended to address the bases of climate change,\" she added<strong>.<\/strong><\/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\"><a id=\"wwtt2\"><\/a> <strong>#2-<\/strong><strong>More Saudi investments ahead? <\/strong>A Saudi delegation spoke about upping investment and economic cooperation with high-level Egyptian officials including Prime Minister Moustafa Madbouly and Finance Minister Mohamed Maait, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid016iAodtZLjFudkCp2DqQEerAU6qmQFsar8LsoracG4AjGKkD9H5PMV1bcxrfcWtFl?__cft__%5B0%5D=AZXed-VDdPtawuLN0MK9INLIqyWSYdpH7mc8lBeWHWrTTO_kKDf-LpPGjdIfv1Q05vgcSyFPwaA0UJHlL9YeBrhBSupp3djZWLt37IepLoJ-ha4z-u08lDEooF6mldK-uH7aSTv3vtIqAcyNWQ6X4QqYsN91hthlPkr5Y9toBn3nNf-U-jze8PG2Z5h5J7Jam2ujpDvDdXhk2SRHjyCW-dzm&amp;__tn__=%2CO%2CP-R\" style=\"\" rel=\"noopener\">statement<\/a>. The two sides confirmed ongoing negotiations to open \u201careas for joint cooperation in various economic sectors.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:\u00a0<\/strong>The Sovereign Fund of Egypt is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7b5cd5d7-94eb-4391-bd8e-d6b1bd175704\/%253cmark%253e%253c%2Fmark%253ethe%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253esovereign%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253efund%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eof%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eegypt%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eis%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eheading%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eto%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ethe%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253egulf%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">off to the Gulf<\/a> next month to meet with investors, financial institutions, and other sovereign funds to discuss potential investments on offer and hopefully drum up some fresh inflows.<\/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>#3- In efforts to bring down inflation:<\/strong> The PM called for a directive to identify commodities that contribute the most to high inflation rates, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0uLdouDciBkzK6GkkHvce5PDNjHE9jKt5yoULVaJ874hJ8Qr1k9FAE1g2BP6qHMmSl\" style=\"\" rel=\"noopener\">statement<\/a>. Madbouly said that the government will hold meetings with the heads of the Egyptian Poultry Association, as well as officials in the fruit and vegetable sector, with the aim of reducing prices across some of the biggest identified contributors to higher inflation rates. <\/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\"><a id=\"wwtt5\"><\/a><strong>#4- Three new members aboard the regional industrial integration partnership?\u00a0<\/strong>Oman is on track to join the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/67794c02-4c1b-4d65-867d-863f039e6ccd\/\" style=\"\" rel=\"noopener\">Integrated Industrial Partnership<\/a> that includes Egypt, the UAE, Jordan, Bahrain, and Morocco, <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=18052024&amp;id=c9f0bb69-d509-4db5-b9f3-e5b458a1973a\" style=\"\" rel=\"noopener\">Shorouk News<\/a> reports, citing an unnamed government source. Negotiations are also reportedly underway to welcome two additional countries into the fold. The initiative, which was launched back in May 2022, initially brought together Egypt, the UAE, and Jordan in a bid to support industrial integration between the three countries and boost sustainable growth. The member countries could also look into the possibility of conducting trade in their local currencies, the source said. <\/p><p class=\"tag-border-left\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>WEATHER- The heat wave continues in Cairo today<\/strong>, with a high of 38\u00b0C and a low of 24\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s almost as hot in Alexandria<\/strong>, with a high of 34\u00b0C and a low of 22\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Want to subscribe?\u00a0<\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">HAPPENING TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>The Egypt International Summit for Digital Transformation and Cybersecurity <\/strong><strong>kicks off today<\/strong> and continues until Tuesday at the Egypt International Exhibitions Centre. Launched by the people behind the FDC Summit and the Egypt Cybersecurity &amp; Defense Intelligence Systems, the three-day event will focus on integrating efforts and raising awareness on the importance of cybersecurity and digital transformation. Register for the event <a target=\"_blank\" href=\"https:\/\/fdcsummit.org\/register\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p class=\"tag-border-left\">HAPPENING TOMORROW-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over 2k tourism industry professionals from across Africa are heading to Sharm <\/strong><strong>El Sheikh for the <\/strong><strong>Africa Tourism Forum<\/strong> that will run from Monday to Tuesday at the Sharm El Sheikh International Convention Center. Check out the schedule and register for the event <a target=\"_blank\" href=\"https:\/\/africatourismforum.com\/\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EBRD will head to Sharm El Sheikh for its 2027 annual meeting: <\/strong>Egypt is set to host and organize the annual meeting of the European Bank for Reconstruction and Development (EBRD) in 2027, after being selected to do so on Friday during the bank\u2019s 2024 annual meeting and business forum in Armenia, International Cooperation Minister Rania Al Mashat said a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MOICEgypt\/posts\/pfbid02McfQNgajRSeRZQLBJqBEeYgD1YFa8PhuhJN7p1trEtZAJS5uapRBvFPKzKZaHZaZl\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a fairly quiet morning in the global business news<\/strong>, with one story dominating the front pages. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TROUBLE IN THE ISRAELI CABINET? <\/strong>Benny Gantz, a central member of Israel\u2019s three-man war cabinet, said he\u2019ll resign his post unless Prime Minister Benjamin Netanyahu adopts a new war plan by 8 June. Netanyahu called Gantz\u2019s ultimatum \u201cwashed-up words whose meaning is clear: the end of war and defeat for Israel, abandoning most of the hostages, leaving Hamas intact and the establishment of a Palestinian state.\u201d (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-18\/gantz-says-he-ll-quit-unless-netanyahu-shifts-to-a-new-gaza-plan?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/dozens-killed-wounded-israeli-forces-thrust-deeper-gazas-jabalia-rafah-2024-05-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-palestinians-gaza-war-05-18-2024-3ac9d8e59198d5884d0faa6649a53e4f\" style=\"\" rel=\"noopener\">AP<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What would Gantz\u2019s departure mean? <\/strong>Gantz leaving \u201cwould leave Netanyahu even more beholden to far-right allies who have taken a hard line on negotiations over a cease-fire and hostage release, and who believe Israel should occupy Gaza and rebuild Jewish settlements there,\u201d <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/18\/member-of-israels-war-cabinet-says-hell-quit-the-government-june-8-unless-theres-a-new-war-plan.html\" style=\"\" rel=\"noopener\">CNBC<\/a> writes. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Another Houthi attack in the Red Sea. <\/strong>A Panamanian-flagged oil tanker was hit by a Houthi anti-ship missile yesterday, US Centcom said in a <a target=\"_blank\" href=\"https:\/\/x.com\/CENTCOM\/status\/1791851421152743816\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>From the Dept. of Flying Cars:<\/strong> Chinese EV manufacturer XPeng\u2019s plans to deliver its flying car to customers in two years, the company\u2019s co-president told <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/17\/xpeng-aims-for-flying-car-pre-orders-this-year-with-delivery-in-2026.html\" style=\"\" rel=\"noopener\">CNBC<\/a>. The flying car \u2014 dubbed the Land Aircraft Carrier \u2014- will be available for people to pre-order this year. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND IN AI NEWS- <\/strong>OpenAI has <a target=\"_blank\" href=\"https:\/\/www.wired.com\/story\/openai-superalignment-team-disbanded\/\" style=\"\" rel=\"noopener\">disbanded<\/a> its long-term AI risk team less than a year after announcing it. The team was <a target=\"_blank\" href=\"https:\/\/openai.com\/index\/introducing-superalignment\/\" style=\"\" rel=\"noopener\">announced<\/a> in July with the aim to \u201cto steer and control AI systems much smarter than us.\u201d<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"620257 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"620257\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/620257\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620257\" class=\"content-area-description single-story post-620257 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1171.png?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"\">Discover your dream getaway with our signature collection of vacation homes and let our expert<\/span><span> team craft your perfect holiday experience.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"620258\" 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=\"620258\">\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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/idh-looks-to-delist-from-the-egx\/\">\r\n                            IDH looks to delist from the Egyptian Stock Exchange                        <\/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\/05\/19\/idh-looks-to-delist-from-the-egx\/\" 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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All listed shares will be transferred to their primary market on the London Stock Exchange (LSE) if the extraordinary general assembly approves the voluntary delisting, the company\u2019s board said in the disclosure.<\/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 company will announce later a timetable of the delisting procedures, which include the date of extraordinary general assembly meeting to vote on the move and dates of the proposed delisting.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Objecting shareholders can then sell their shares back to the company at the highest <\/strong><strong>price of the following: <\/strong>(a) The highest closing share price on EGX during last month, (b) the highest close share price on LSE during last month, (c) the average closing price on EGX in the past three month, or (d) the average closing price on LSE in the past three month based on the average exchange rate in EGP during this period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The Cairo-based company had the first technical listing of its kind on the Egyptian stock market <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48ddada3-0016-47a8-a9e6-201cb9d0cca7\" style=\"\" rel=\"noopener\">in May 2021<\/a> when it transferred 5% of its shares from the LSE to the EGX after having a blockbuster debut in London back in 2015.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>The company tapped Clifford Chance, Matouk Bassiouny, and Ogier LLP as legal advisors. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/integrated-diagnostics-holding\/\">Integrated Diagnostics Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/london-stock-exchange\/\">London Stock Exchange<\/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=\"620260\" 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=\"620260\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Real estate<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/government-readies-land-transfer-following-arrival-of-final-tranche-of-ras-el-hekma-funds\/\">\r\n                            Egyptian government readies land transfer, following arrival of final tranche of Ras El Hekma funds                        <\/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\/05\/19\/government-readies-land-transfer-following-arrival-of-final-tranche-of-ras-el-hekma-funds\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The announcement shortly follows the second and final tranche from the USD 35 bn agreement <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4461a6ec-f67a-45d9-b396-b6b1f6533a35\/\" style=\"\" rel=\"noopener\">landing<\/a> in state coffers last week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?&nbsp;<\/strong>The project is expected to break ground when the company wraps up the necessary studies early next year, El Homsani added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Ras El Hekma for Urban Development Project Company will be granted golden licenses to develop a freezone and investment zone and will also be setting up an international tourist port, as per a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ec9d0ffe-4ac3-4827-a339-a8d29df605ec\" style=\"\" rel=\"noopener\">cabinet decision<\/a> last month.<\/p>\n<p class=\"tag-border-left\">A NEW SAUDI PROJECT IN RAS EL HEKMA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Maraseem and Inertia are also lining up a project for Ras El Hekma: <\/strong>The Saudi <a target=\"_blank\" href=\"https:\/\/www.almarasemdevelopment.com\/\" style=\"\" rel=\"noopener\">Al<\/a><a target=\"_blank\" href=\"https:\/\/www.almarasemdevelopment.com\/\" style=\"\" rel=\"noopener\">Marasem<\/a><a target=\"_blank\" href=\"https:\/\/www.almarasemdevelopment.com\/\" style=\"\" rel=\"noopener\">Development<\/a> and <a target=\"_blank\" href=\"https:\/\/inertiaegypt.com\/\" style=\"\" rel=\"noopener\">Inertia Egypt<\/a> have agreed to set up a 640-feddan integrated tourism project with expected revenues of EGP 55 bn by 2029, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/63816\/-%D8%A7%D9%84%D9%85%D8%B1%D8%A7%D8%B3%D9%85-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%B7%D9%88%D8%B1-%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D8%A7-%D8%B3%D9%8A%D8%A7%D8%AD%D9%8A%D8%A7-%D9%81%D9%8A-%D8%B1%D8%A3%D8%B3-%D8%A7%D9%84%D8%AD%D9%83%D9%85%D8%A9-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reported, citing two unnamed sources it says are familiar with the contract. Al Marasem will be responsible for the development of the project, while Inertia will contribute the land.<\/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\/al-marasem-development\/\">Al Marasem Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ras-el-hekma\/\">Ras El Hekma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/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=\"620262\" 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=\"620262\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/war-in-gaza-could-cost-egypt-up-to-usd-20-bn-undp-estimates\/\">\r\n                            Egypt could lose up to USD 20 bn due to war in Gaza, UNDP estimates                        <\/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\/05\/19\/war-in-gaza-could-cost-egypt-up-to-usd-20-bn-undp-estimates\/\" 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\/05\/19\/war-in-gaza-could-cost-egypt-up-to-usd-20-bn-undp-estimates\/')\">\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\/05\/19\/war-in-gaza-could-cost-egypt-up-to-usd-20-bn-undp-estimates\/\">\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=War in Gaza could cost Egypt up to USD 20 bn, UNDP estimates&url=https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/war-in-gaza-could-cost-egypt-up-to-usd-20-bn-undp-estimates\/\">\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\/05\/19\/war-in-gaza-could-cost-egypt-up-to-usd-20-bn-undp-estimates\/&title=War in Gaza could cost Egypt up to USD 20 bn, UNDP estimates\">\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=War+in+Gaza+could+cost+Egypt+up+to+USD+20+bn%2C+UNDP+estimates+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F05%2F19%2Fwar-in-gaza-could-cost-egypt-up-to-usd-20-bn-undp-estimates%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\/05\/19\/war-in-gaza-could-cost-egypt-up-to-usd-20-bn-undp-estimates\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1387.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"620263\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/war-in-gaza-could-cost-egypt-up-to-usd-20-bn-undp-estimates\/1387-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1387.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1387.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1387.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1387.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620262\" class=\"content-area-description single-story post-620262 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-gaza tag-gdp tag-suez-canal tag-tourism tag-undp 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\/.3e611b1a-7d48-4fa6-a933-fdbab4b3c0d3.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The UN Development Program (UNDP) estimates that the war in Gaza could cost <\/strong><strong>Egypt\u2019s economy between USD 5.6 bn and USD 19.8 bn <\/strong>\u2014 1.6-5.2% of our annual average GDP \u2014 throughout the current and upcoming fiscal years, depending on how far the conflict escalates, according to a recent&nbsp;<a href=\"https:\/\/ent.news\/2024\/5\/1485.pdf\" target=\"_blank\" rel=\"noopener\">report (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Suez Canal and tourism revenues are expected to take a big hit<\/strong>, with the UN body penciling in a loss of between USD 3.7 bn and USD 13.7 bn during the course of the two fiscal years. The UNDP warned that lower FX inflows coupled with a widening current account deficit would strain the country\u2019s FX reserves and increase inflationary pressures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The war\u2019s downstream effect on unemployment and the poverty rate is also a source of <\/strong><strong>worry:<\/strong> The report projects an increase in the unemployment rate between 0.5-1.3% in FY 2023-2024 and a 1.3-2.5% decrease in households\u2019 real disposable income.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale:<\/strong> The report assesses the economic impact of the Gaza war across three possible scenarios, all backdated to February 2024. These are a low-intensity scenario in which there is little regional escalation and the war lasts six months, a medium-intensity scenario in which there is limited regional escalation and the war lasts nine months, and a high-intensity scenario in which there is more significant regional escalation and the war lasts 12 months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What the doctor ordered:<\/strong> The UN recommended several policies which could mitigate the impact of the war on Egypt, including facilitating access to social protection programs, supporting the tourism value chain and shifting to sustainable tourism, and boosting the resilience of sectors most vulnerable to the crisis while doubling down on shock-proof sectors like textiles and agriculture.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Take it with a grain of salt: <\/strong>The report is based on information out until February 2024, meaning it doesn\u2019t take into account the float of the EGP and the bns of funds we secured from the Gulf and international partners since then. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/undp\/\">UNDP<\/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=\"620264 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=\"620264\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/620264\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620264\" class=\"content-area-description single-story post-620264 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.global\/en\/locations\/Egypt\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/674.png?ssl=1\"><\/a><\/span><\/p>\n\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=\"620265\" 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=\"620265\">\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\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/fitch-upgrades-four-egyptian-banks-credit-rating-outlook-to-positive\/\">\r\n                            Fitch upgrades four Egyptian banks\u2019 credit rating outlook to positive                        <\/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\" 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data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1376.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1376.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620265\" class=\"content-area-description single-story post-620265 post type-post status-publish format-standard has-post-thumbnail hentry category-banking tag-banking tag-banque-du-caire tag-banque-misr tag-cib tag-enterpriseam tag-fitch tag-national-bank-of-egypt 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\/.dea29192-e51d-4551-95b1-fda52603219a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Fitch Ratings has upgraded its outlook on four local banks<\/strong> \u2014 the National Bank of Egypt, Banque Misr, Banque du Caire, and CIB \u2014 taking their long-term debt outlook to positive from stable, while affirming their ratings at B-, according to a <a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/research\/banks\/fitch-revises-outlooks-on-4-egyptian-banks-to-positive-affirms-idrs-at-b-15-05-2024\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The why: <\/strong>Fitch pointed to greater FX liquidity from the Ras El Hekma agreement and IMF package. \u201cBanks' performance will remain strong in the medium term supported by high interest rates, stronger business growth and greater macroeconomic stability,\u201d the statement said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This mirrors Fitch\u2019s decision <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/70ab4109-b896-4fb8-9620-7d7ca7246084\/%253cmark%253efitch%253c%2Fmark%253e-upgrades-egypt%25e2%2580%2599s-sovereign-credit-rating-outlook-to-positive\" style=\"\" rel=\"noopener\">earlier this month<\/a><\/strong><strong> to upgrade Egypt\u2019s sovereign outlook to <\/strong><strong>positive from stable.<\/strong> The credit rating agency cited a reduction in near-term external financing risks on the back of an influx of foreign capital from the Ras El Hekma agreement, fresh funds from international financial institutions, non-resident holdings of domestic debt doubling since January to USD 35.3 bn in March, the float of the EGP, and interest rate hikes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The four banks are exposed to Egypt's sovereign debt<\/strong> through their holdings of government debt and their lending activities to public sector firms, which explains the correlation between the sovereign credit rating and that of the banks, the statement writes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Fitch lowered the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/04e2ed79-61e4-47bf-b066-37b85ef38093\/%253cmark%253efitch%253c%2Fmark%253e-cuts-bank-credit-ratings-following-sovereign-downgrade\" style=\"\" rel=\"noopener\">bank\u2019s credit ratings to B- from B<\/a> in November after downgrading the country\u2019s credit rating. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Moody\u2019s did it first: <\/strong>Moody\u2019s in March <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d94a2ed8-e2c6-4408-a754-eca1c4085d48\" style=\"\" rel=\"noopener\">upgraded five Egyptian banks\u2019<\/a> credit rating outlook to positive from negative shortly after upgrading Egypt\u2019s outlook to positive.<\/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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-du-caire\/\">Banque du Caire<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fitch\/\">Fitch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-bank-of-egypt\/\">National Bank of Egypt<\/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=\"620267\" 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=\"620267\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/chinese-investors-ink-usd-9-5-mn-worth-of-industrial-project-in-teda\/\">\r\n                            Chinese investors ink USD 9.5 mn worth of industrial project in Egypt\u2019s TEDA                        <\/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\/05\/19\/chinese-investors-ink-usd-9-5-mn-worth-of-industrial-project-in-teda\/\" target=\"_blank\">\n                    Open 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1394.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"620268\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/chinese-investors-ink-usd-9-5-mn-worth-of-industrial-project-in-teda\/1394-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1394.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1394.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1394.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1394.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620267\" class=\"content-area-description single-story post-620267 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-china tag-enterpriseam tag-fdi tag-investment-watch tag-manufacturing tag-suez-canal-economic-zone tag-teda-industrial-zone tag-textiles 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\/.dea29192-e51d-4551-95b1-fda52603219a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>More Chinese investments incoming:<\/strong> The Suez Canal Economic Zone (SCZone) has allocated land for two new projects worth a combined USD 9.5 mn in China\u2019s special economic zone TEDA, according to a <a target=\"_blank\" href=\"https:\/\/sczone.eg\/sczone-receives-a-high-level-delegation-from-the-chinese-tianjin\/\" style=\"\" rel=\"noopener\">statement<\/a> from the SCZone.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Xinjin Textile, Printing, and Dyeing will establish a USD 5.5 mn project<\/strong> on an area of 20k sqm;<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Shengyuan Construction Engineering Company will establish a USD 4 mn project<\/strong> on an area of just under 16k sqm. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO NEW TO TEDA- <\/strong>During the signing of the land allocation agreement, the Egyptian and Chinese sides witnessed the unveiling of a number of projects new to TEDA: The Kemedi Chemical Company\u2019s USD 17.2 mn project, the Jasmine Industrial Investment\u2019s USD 1.9 mn project, and the Tiger King Tools\u2019 USD 1.9 mn project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The SCZone wants to house 1k Chinese companies by 2030<\/strong><strong>:<\/strong> \u201cThe SCZone succeeded in attracting 128 projects worth USD 6 bn in the past 2 years, of which Chinese investments represent 40%. This success also extends through the expansions of the industrial developer TEDA. SCZone is working to provide all types of support to attract more investments. There is a legitimate ambition to level up the number of Chinese companies in SCZone to reach 1k by 2030,\u201d SCZone head Walid Gamal El Din said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/teda-industrial-zone\/\">TEDA industrial zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/textiles\/\">textiles<\/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=\"620269\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div 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class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 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WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/e-finance-contact-financial-report-1q-earnings\/\">\r\n                            e-Finance, Contact Financial report 1Q earnings                        <\/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\/05\/19\/e-finance-contact-financial-report-1q-earnings\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/e-finance-contact-financial-report-1q-earnings\/1364-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1364.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1364.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1364.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1364.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620270\" class=\"content-area-description single-story post-620270 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-contact-financial tag-e-finance tag-earnings-watch tag-enterpriseam 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\/.dea29192-e51d-4551-95b1-fda52603219a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E-Finance starts the year \u201con a high note:\u201d<\/strong> State-owned fintech giant e-Finance\u2019s net income after non-controlling interest rose 64% y-o-y in 1Q 2024 to EGP 462.5 mn, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1362.pdf\" style=\"\" rel=\"noopener\">latest earnin<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1362.pdf\" style=\"\" rel=\"noopener\">gs release (pdf)<\/a>. Revenue rose 49.6% y-o-y to EGP 1.1 bn, driven by a strong performance across the company\u2019s subsidiaries, especially its flagship Digital Operations<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the trend:<\/strong> e-Finance\u2019s Digital Operations contributed the lion\u2019s share (89%) of the group\u2019s revenues for the quarter. The subsidiary saw its top line increase of 43.8% y-o-y to a little over EGP 1 bn, on strong results \u201cacross its cloud hosting services, its transaction revenue, and its build &amp; operate services.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Acquisitions in the works:<\/strong> \u201cOur investment strategy remains focused on expanding our presence in the payments sector. Toward this objective, we are in the final stages of two strategic investments in strategic companies. Upon completion, these investments are poised to offer additional avenues for delivering value-added services to our clients, solidifying our leading position in Egypt's digital payments landscape,\u201d the chairman Ibrahim Sarhan said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> e-Finance has been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/87599cac-ec79-4b71-ad27-db561219083d\" style=\"\" rel=\"noopener\">in talks<\/a> to acquire two retail-focused digital payments companies, the first of which was approved by the board in November 2023.<\/p>\n<p class=\"tag-border-left\">MACRO CHALLENGES WEIGH ON CONTACT\u2019S EARNINGS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Contact Financial\u2019s bottom line drops in 1Q 2024: <\/strong>Non-banking financial services firm Contact Financial\u2019s normalized net income dipped 68% y-o-y in 1Q 2024 to EGP 57.4 mn, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1388.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The drop came on the back of macroeconomic headwinds, which weighed on the company\u2019s financing division.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In detail:<\/strong> Net income at the NBFI\u2019s financing division fell 83% y-o-y to EGP 20 mn on the back of the company\u2019s decision to delay a part of its portfolio transfer activities \u2014 a significant source of revenue \u2014 due to an unfavorable interest rate environment. Additionally, interest rates and product price instability triggered a slowdown of issuances at Contact\u2019s Auto and Consumer Finance segments, driving down new financing 38% y-o-y to EGP 2.6 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ins. division fared better:<\/strong> Net income at the ins. division rose 45% y-o-y to EGP 36 mn thanks to robust results at Sarwa Life and Sarwa Ins., whose total gross written premiums grew 59% y-o-y to a combined EGP 696 mn during the quarter.<\/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\/contact-financial\/\">Contact Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-finance\/\">e-finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"620272\" 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=\"620272\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/drive-finance-closes-egp-1-4-bn-securitization-issuance\/\">\r\n                            GB Corp\u2019s Drive Finance raises EGP 1.4 bn in securitized bonds                        <\/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\/05\/19\/drive-finance-closes-egp-1-4-bn-securitization-issuance\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The issuance \u2014 which was more than 2x oversubscribed \u2014 came in three tranches, rated AA+, AA, and A, by the Middle East Rating and Investors Services (MERIS).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where is the money going? <\/strong>And while the statement doesn\u2019t detail how the funds will be used, the company\u2019s head of finance said that the continued diversification of the company\u2019s funding has helped it expand its financing services and expand geographically.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> CIB served as the financial advisor, issuance manager, and arranger, while the Arab African International Bank was underwriter of the issuance as well as the sale\u2019s custodian. Dreny &amp; Partners was counsel, and Russell Bedford Sherif Dabbous acted as auditor.<\/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-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/drive-finance\/\">Drive Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-corp\/\">GB Corp<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/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=\"620274 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=\"620274\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/620274\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620274\" class=\"content-area-description single-story post-620274 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/186.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"620275\" 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=\"620275\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/the-future-of-the-ras-el-hekma-funds-in-question\/\">\r\n                            The future of the Ras El Hekma funds in question                        <\/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\/05\/19\/the-future-of-the-ras-el-hekma-funds-in-question\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/the-future-of-the-ras-el-hekma-funds-in-question\/1417-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1417.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1417.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1417.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1417.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620275\" class=\"content-area-description single-story post-620275 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-last-nights-talk-shows tag-ras-el-hekma 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\/.dea29192-e51d-4551-95b1-fda52603219a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Last night\u2019s talk shows zeroed in on the way forward following the Ras El Hekma <\/strong><strong>agreement<\/strong> and buzzed with rebuttals against Israeli media reports claiming that Egypt is scrapping plans to join South Africa\u2019s case against Israel at the ICJ.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4461a6ec-f67a-45d9-b396-b6b1f6533a35\/\" style=\"\" rel=\"noopener\">last week secured the full USD 35 bn<\/a><\/strong><strong> from the Ras El Hekma agreement, now <\/strong><strong>what?<\/strong> Egypt should form a national committee to follow up on the recommendations laid out by the IMF to ensure it doesn\u2019t repeat the mistakes it made after it inked the initial loan agreement in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c374319e-e849-44f6-bf5a-8179fb41caf5\" style=\"\" rel=\"noopener\">December 2022<\/a>, Economist Medhat Nafei told El Hekaya\u2019s Amr Adib (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=a6rnQKnBRqo\" style=\"\" rel=\"noopener\">watch, runtime: 22:49<\/a>). This committee could be given the power to negotiate with the Fund on key terms, Nafie added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government\u2019s trajectory is so far unclear:<\/strong> There are no clear indications that the government is using the proceeds wisely or that there are concrete plans for sustained reforms, Nafei said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGP is currently undervalued<\/strong>, Nafei said, explaining that while it\u2019s possible for the currency to appreciate, a gradual adjustment is preferable to avoid a flight of hot money from the local market. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shutting down the rumor mill:<\/strong> Reports by Israeli media claiming that Egypt plans to withdraw from its bid to join <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aaaa6238-b564-4e33-9daf-0260d54bba79\/budget-discussions-continue-at-the-house\" style=\"\" rel=\"noopener\">South Africa\u2019s genocide case<\/a> against Israel at the International Court of Justice are untrue, <a target=\"_blank\" href=\"https:\/\/alqaheranews.net\/news\/80609\/%D9%85%D8%B5%D8%AF%D8%B1-%D8%B1%D9%81%D9%8A%D8%B9-%D8%A7%D9%84%D9%85%D8%B3%D8%AA%D9%88%D9%89-%D9%85%D8%B5%D8%B1-%D9%84%D9%86-%D8%AA%D8%AA%D8%B1%D8%A7%D8%AC%D8%B9-%D8%B9%D9%86-%D8%A7%D9%84%D8%A7%D9%86%D8%B6%D9%85%D8%A7%D9%85-%D9%84%D8%AF%D8%B9%D9%88%D9%89-%D8%A7%D9%84%D8%A5%D8%A8%D8%A7%D8%AF%D8%A9-%D8%A7%D9%84%D8%AC%D9%85%D8%A7%D8%B9%D9%8A%D8%A9-%D8%B6%D8%AF-%D8%A5%D8%B3%D8%B1%D8%A7%D8%A6%D9%8A%D9%84\" style=\"\" rel=\"noopener\">Al Qahera News<\/a> quoted a high-ranking source as saying yesterday. The denial made the rounds on Kelma Akhira (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=QKUSu0D5ED4\" style=\"\" rel=\"noopener\">watch, runtime: 0:58<\/a>), Masa\u2019a DMC (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=RKFllFkUZxg\" style=\"\" rel=\"noopener\">watch, runtime 0:42<\/a>), and Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=S2qarnrdOyA\" style=\"\" rel=\"noopener\">watch, runtime: 2:15<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/ras-el-hekma\/\">Ras El Hekma<\/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=\"620277\" 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=\"620277\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/the-reuters-take-on-our-economic-reforms\/\">\r\n                            Reuters weighs in on Egypt\u2019s economic reforms                        <\/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\/05\/19\/the-reuters-take-on-our-economic-reforms\/\" 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\/05\/19\/the-reuters-take-on-our-economic-reforms\/')\">\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\/05\/19\/the-reuters-take-on-our-economic-reforms\/\">\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=The Reuters take on our economic reforms&url=https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/the-reuters-take-on-our-economic-reforms\/\">\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\/05\/19\/the-reuters-take-on-our-economic-reforms\/&title=The Reuters take on our economic reforms\">\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=The+Reuters+take+on+our+economic+reforms+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F05%2F19%2Fthe-reuters-take-on-our-economic-reforms%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\/05\/19\/the-reuters-take-on-our-economic-reforms\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1408.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"620278\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/the-reuters-take-on-our-economic-reforms\/1408-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1408.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1408.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1408.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1408.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620277\" class=\"content-area-description single-story post-620277 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-economy tag-enterpriseam 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\/.dea29192-e51d-4551-95b1-fda52603219a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our economy under the spotlight: <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/upturn-egypts-economic-fortunes-tempered-by-caution-reform-2024-05-16\/\" style=\"\" rel=\"noopener\">Reuters<\/a> takes a deep dive into what the future may hold for the Egyptian economy following the recent wave of economic reforms introduced by the central bank. This round of reforms is looking different \u2014 sources the newswire spoke to cite the government slowing spending on large infrastructure projects and the belief that the government will pay arrears to foreign companies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That\u2019s not enough: <\/strong>\u201cOur cash flow issue has been resolved temporarily, but we need to solve the root causes,\u201d one banker told Reuters. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"620279\" 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=\"620279\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/govt-extends-a-helping-hand-to-local-startups\/\">\r\n                            Egypt\u2019s government extends a helping hand to local startups                        <\/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 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\r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/govt-extends-a-helping-hand-to-local-startups\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1413.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"620280\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/govt-extends-a-helping-hand-to-local-startups\/1413-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1413.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1413.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1413.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1413.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620279\" class=\"content-area-description single-story post-620279 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-cit-ministry tag-enterpriseam tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.dea29192-e51d-4551-95b1-fda52603219a.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">STARTUPS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tech startups are on the government\u2019s whitelist:<\/strong> The CIT Ministry has launched a whitelist system for tech startups and emerging tech firms to help facilitate the process of importing essential production components and inputs, according to a ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02AzcFyS84VRfu6JWyZU3kD3EqSR475yFjfzeKcKv2bT29fvS3CJwheYKfjKKvvKsTl\" style=\"\" rel=\"noopener\">statement<\/a>. The whitelist comes as part of the ministry\u2019s efforts to help facilitate the process of launching startups, CIT Minister Amr Talaat said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gov\u2019t to launch platform for startups within days:<\/strong> The government is set to roll out a unified platform for startups within days, Prime Minister Moustafa Madbouly told entrepreneurs and investors at the RiseUp Summit, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/937011041802650?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a>. The platform could be managed by the private sector. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ears to the ground:<\/strong> Madbouly called on startups to come up with a clear proposal for the incentives, procedures, and government action that would help turbocharge the sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Information Technology Industry Development Agency (ITIDA) Vice President Hossam Osman had told the <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/ya56n92m\" style=\"\" rel=\"noopener\">local press<\/a> back in February that the CIT Ministry would soon roll out a digital platform to serve startups. The platform will offer the full range of government services extended to startups, spanning establishment to marketing, according to Osman.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cit-ministry\/\">CIT ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"620281\" 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=\"620281\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/chinese-investment-in-north-africa-eastern-europe-central-asia-more-than-double-that-of-us-and-germany-combined\/\">\r\n                            Chinese investment in north Africa, eastern Europe, central Asia more than double that of US and Germany combined                        <\/a>\r\n         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class=\"content-area-description single-story post-620281 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-china tag-ebrd tag-enterpriseam tag-fdi tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.dea29192-e51d-4551-95b1-fda52603219a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Chinese FDI accounted for almost 39% of the total greenfield investments in 2023<\/strong>of the 36 countries in which the European Bank for Reconstruction and Development (EBRD) operates, jumping up from 5.1% in 2022, the EBRD said in its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1183.pdf\" style=\"\" rel=\"noopener\">Regional Economic Prospects report (pdf)<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cChina is dwarfing FDI from Germany and the US,\u201d <\/strong>the EBRD\u2019s chief economist Beata Javorick told the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/bf9132d1-09c7-4604-b972-043f44812eaa\" style=\"\" rel=\"noopener\">Financial Times<\/a>. The world\u2019s factory put forward more than twice as much investment last year than the US and Germany combined, who each accounted for less than 8% of total investment in the nations the bank works in.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The sudden splurge in investment may be more about circumventing US trade barriers<\/strong><strong> than anything else:<\/strong> \u201cChina has tried to diversify production locations in terms of potential trade barriers,\u201d Javorick told the salmon-colored paper. The Biden administration continued ramped-up trade tariffs on Chinese goods inherited from the previous administration and this week <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/896e98dd-3f94-4b11-88a5-03d68b0d3b45\/us-quadruples-tariffs-on-chinese-evs-to-100%2525\" style=\"\" rel=\"noopener\">imposed<\/a> additional tariffs on a further USD 18 bn worth of Chinese imports.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While China is looking to invest abroad to avoid tariffs, Russia is looking to China to<\/strong><strong> avoid sanctions:<\/strong> China and Russia <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/putin-visit-chinas-xi-deepen-strategic-partnership-2024-05-15\/\" style=\"\" rel=\"noopener\">affirmed<\/a> a \u201cnew era\u201d of relations between the states during Russian premier Putin\u2019s two-day visit to the nation over the weekend that will see Russia becoming ever-more reliant on the Asian nation. Putin seems to have secured a commitment to a closer economic relationship as Russian businesses increasingly look to China as imports of key production inputs from Europe and much of the rest of the world are cut off by sanctions from Russia\u2019s invasion of Ukraine.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE ON WALL STREET- The Dow Jones Industrial Average closed above 40k for the <\/strong><strong>first time<\/strong> in its 139-year history on Friday, amid optimism that the Fed will cut rates soon. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/futures-edge-lower-rally-loses-some-steam-2024-05-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p><p><a target=\"_blank\" id=\"t.3af4bfc05525bb8e712d66262161e8556677f331\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">26,143<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+3.3% (YTD: +5.0%)<\/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>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 46.83<\/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\">Sell 46.97<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB)<\/strong><\/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 46.86<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 46.96<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,198<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8% (YTD: +1.9%)<\/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>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\">9,042<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.0% (YTD: -5.6%)<\/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>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\">4,068<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +0.2%)<\/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:1.15;text-align:left\">5,303<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +11.2%)<\/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>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\">8,420<\/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: +8.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,064<\/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: +12.0%)<\/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>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 83.98<\/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%<\/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 (Nymex)<\/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 2.63<\/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\">+5.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,414.40<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 66,977<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +58.4%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 3.3% at Thursday\u2019s close<\/strong> on turnover of EGP 3.4 bn (29.4% below the 90-day average). Local investors were net sellers. The index is up 5.0% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Mopco (+14.6%), E-finance (+9.6%), and Elsewedy Electric (+8.9%). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Egypt Kuwait Holding -USD (-2.3%).<\/p><p class=\"tag-border-left\">CORPORATE ACTIONS- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CI Capital will pay out a dividend of <\/strong><strong>EGP 0.2169<\/strong><strong> per share <\/strong>on its 2023 earnings, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1382.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"620283\" 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=\"620283\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/el-sisi-decries-lack-of-international-political-will-to-end-gaza-war-during-arab-summit-in-bahrain\/\">\r\n                            Egypt\u2019s El Sisi decries lack of international political will to end Gaza war during Arab Summit in Bahrain                        <\/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\/05\/19\/el-sisi-decries-lack-of-international-political-will-to-end-gaza-war-during-arab-summit-in-bahrain\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The Arab leaders also called for an international peace conference to resolve the issue. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Sisi <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid0NschZHeM1FNsoM2QaVZmmJWzjG8otAYrsKoGtE4JnXX5iNkmfLtA2cZr2KWcUCoCl\" style=\"\" rel=\"noopener\">decried<\/a><\/strong><strong> the lack of a \u201cgenuine international political will to end the occupation and<\/strong><strong> address the root-causes of the conflict,\u201d<\/strong> which he says should be done through implementing a two-state solution with the establishment of an independent Palestinian state along the 1967 borders with East Jerusalem as its capital. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>During his time in Bahrain: <\/strong>El Sisi also met separately with his counterparts from <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02FzLrZ7S9TJeYrUVkk7pt7jnYVkgXhfF3nqGjY1jd51X4meiDm1WWuU8M7VyTahphl\" style=\"\" rel=\"noopener\">Bahrain<\/a>, <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02yisjbojszqpvVsguH7D3QiVeKkf2d3hxdBWVvKacKKiErqgDHyGUWfEjJ6H1FK6il\" style=\"\" rel=\"noopener\">Jordan<\/a>, <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02FakeS6mj5yzUHd8fJePh39Z6ppUbkwmztNfXkLE3XM25J5rke7LgkZqNu4NcYeSil\" style=\"\" rel=\"noopener\">Iraq<\/a>, <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02g595BzrXTfm6ZDdYT3QtSsFhkpdbgYrAeJeawJRxbwFH9hQLFbVuox1RdwTcv34il\" style=\"\" rel=\"noopener\">Djibouti<\/a>, as well as Palestinian Authority President <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid0T7zbjGgoZupV51C7QYnN8hK31jdYbfHw76YcxvZra2qKSH5dim6Nnvn2TGkq15R7l\" style=\"\" rel=\"noopener\">Mahmoud Abbas<\/a> and Yemeni Presidential Leadership Council Chairman <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid0341mM1gnFkXdX7L3UMY8buTUVqLqpMLfHYAmX9HfbGuEhU5m1yB5zFKFjH7nZqEYgl\" style=\"\" rel=\"noopener\">Rashad Al Alimi<\/a> on the sidelines of the conference.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ALSO WORTH NOTING FROM THE DIPLOMATIC HOMEFRONT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt to head the D-8 for the next year and a half: <\/strong>Egypt has taken over the rotating presidency of the <a target=\"_blank\" href=\"https:\/\/developing8.org\/\" style=\"\" rel=\"noopener\">D-8 Organization for Economic Cooperation<\/a> and will head the group until the end of 2025, the Foreign Ministry said in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid0TFxzg4nMLfvhckUMknsme15aupeuhq9EKyZva53Ges5khtfnKVrfqHfhegfx7yXHl\" style=\"\" rel=\"noopener\">statement<\/a>. During its tenure, Egypt will be focusing on women- and youth-empowerment through support to SMEs, as well as the harnessing of IT and communications to enhance trade. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the agenda: <\/strong>Egypt aims to set up several networks, including those of economic research centers and diplomatic training centers that will benefit all D-8 member states \u2014 Bangladesh, Indonesia, Iran, Malaysia, Nigeria, Pakistan, Turkey, and Egypt. It will work on D-8\u2019s ongoing efforts to set up a center to support SMEs, a fund to support sustainable projects, and a seed bank to bolster sustainable agriculture efforts.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gaza\/\">Gaza<\/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\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war-watch\/\">war watch<\/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=\"620285\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/620285\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620285\" class=\"content-area-description single-story post-620285 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\">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;\">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;\">22 May (Wednesday): Egypt will host the annual meetings of Arab financial authorities, at the New 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;\">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;\">25-27 May (Saturday - Monday): Techne Summit, Cairo International Stadium.<\/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>5 June (Wednesday): The Optimism Forum, Cairo, Egypt.<\/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;\">AUGUST<\/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;\">4-5 August (Monday-Tuesday): Egypt Expat Forum.<\/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;\">Mid-year: The fifth Japan-Arab Economic Forum.<\/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>3Q 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid04Z7JWbGbYGqFTr8kF2XNgc5Dq2cUR3hn25JDryhDjLnPJkYgaKaqbwzQr6A4QgB2l\" style=\"\">Egyptian-Armenian Joint Committee.<\/a><\/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:400;\">End of 2024: Shalateen Mining Company to launch a gold exploration bid in the Eastern Desert.<\/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 style=\"font-weight:400;\">End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Summit | Whitelist for startups | More Chinese investments | Upgraded outlook | Land transfer.<\/p>\n","protected":false},"featured_media":620254,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-620253","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"eab72c2a-9ecc-4cc9-a491-40fe2a717003","teaser":"Summit | Whitelist for startups | More Chinese investments | Upgraded outlook | Land transfer.","photo_url":"https:\/\/ent.news\/2024\/5\/1414.jpg"},"yoast_head":"<!-- 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