{"id":620424,"date":"2024-05-21T00:00:00","date_gmt":"2024-05-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=620424"},"modified":"2025-12-17T05:53:35","modified_gmt":"2025-12-17T05:53:35","slug":"mps-approve-bill-allowing-private-investors-to-manage-public-hospitals","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/mps-approve-bill-allowing-private-investors-to-manage-public-hospitals\/","title":{"rendered":"MPs approve bill allowing private investors to manage public hospitals"},"content":{"rendered":"<section id=\"620426\" 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=\"620426\">\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\/21\/fresh-tourism-incentives-ahead\/\">\r\n                            Egypt is mulling fresh incentives for tourism investors                        <\/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\/21\/fresh-tourism-incentives-ahead\/\" 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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Read the full interview <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/41aa8140-2ecb-42c1-80a0-6d9d157e87f3\/behind%253cmark%253e-swvl%253c%2Fmark%253e%25e2%2580%2599s-turnaround\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- More tourism incentives on the way?<\/strong> The Madbouly government is planning to offer up incentives to investors looking to invest in tourism projects that will wrap up construction before June 2026, Tourism Minister Ahmed Issa said yesterday at the ongoing <a target=\"_blank\" href=\"https:\/\/africatourismforum.com\/\" style=\"\" rel=\"noopener\">African Tourism Forum<\/a> in Sharm El Sheikh, according to <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1792499259801063559\" style=\"\" rel=\"noopener\">Asharq Business<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The industry is already off to a good start this year<\/strong>, with Isaa <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1792495311702610029\" style=\"\" rel=\"noopener\">telling the forum<\/a> that the country has welcomed 4.6 mn tourists in the four months of the year \u2014 the second highest recorded figure for the period, sitting just below 2010\u2019s peak of 4.7 mn. Tourism revenues hit USD 4.3 bn for the period. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Last month, the tourism and finance ministries <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ab30ba76-0ab5-4e56-8e3f-6913538a4cb3\/gov%25e2%2580%2599t-mulls-subsidized-loan-program-for-hospitality-players-to-boost-hotel-room-capacity\" style=\"\" rel=\"noopener\">agreed to launch<\/a> an initiative offering subsidized loans to local and foreign hospitality players looking to set up more hotel rooms across the country. This follows a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7d890a43-f5f1-49b4-9e3e-886f9c91e363\" style=\"\" rel=\"noopener\">EGP 50 bn tourism initiative<\/a> greenlit by the cabinet in December offering financial incentives to encourage hospitality players to increase their hotel room capacity. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- Enara could make its EGX debut next year: <\/strong>Africa-focused renewables player <a target=\"_blank\" href=\"https:\/\/enaragroup.com\/about-us\/\" style=\"\" rel=\"noopener\">Enara Group<\/a> plans to dual list on the EGX and a Gulf exchange next year, CEO Sherif El Gabaly told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/05\/20\/-%D8%A7%D9%86%D8%A7%D8%B1%D8%A9-%D8%AA%D8%AE%D8%B7%D8%B7-%D9%84%D8%A7%D8%AF%D8%B1%D8%A7%D8%AC-%D9%85%D8%B2%D8%AF%D9%88%D8%AC-%D9%81%D9%8A-%D8%A7%D9%84%D8%A8%D9%88%D8%B1%D8%B5%D8%A9-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D9%88%D8%B3%D9%88%D9%82-%D8%AE%D9%84%D9%8A%D8%AC%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%85-%D8%A7%D9%84%D9%85%D9%82%D8%A8%D9%84\" style=\"\" rel=\"noopener\">Al Arabiya Business<\/a>, without providing further details. The company is currently being restructured ahead of the listing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher:<\/strong> Enara is building a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0f2251cd-82db-4ba9-9ef9-b1287b0bef1f\/\" style=\"\" rel=\"noopener\">300k-ton green ammonia plant<\/a> in Ain Sokhna with the French TotalEnergies. Meanwhile, the company\u2019s subsidiary Libra Capital inked an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/68268b61-5682-45af-a907-019ac3373c6a\" style=\"\" rel=\"noopener\">agreement<\/a> in 2022 with the Agricultural Bank of Egypt and the EGX to establish a new company dubbed Libra Carbon for issuing carbon offsets.<\/p>\n<p class=\"tag-border-left\">PSA- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>WEATHER- It\u2019s another hot day in Cairo<\/strong>, with a high of 38\u00b0C and a low of 27\u00b0C, according to our favorite weather app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s cooler in Alexandria<\/strong>, with a high of 32\u00b0C and a low of 23\u00b0C.<\/p>\n<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>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?&nbsp;<\/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>\n<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<\/p><\/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>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p class=\"tag-border-left\">DATA POINT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Inflation caused by global and regional crises is pushing up Egypt\u2019s import bill by an <\/strong><strong>extra USD 4 bn every month<\/strong>, Finance Minister Mohamed Maait said yesterday, according to a <a target=\"_blank\" href=\"https:\/\/mof.gov.eg\/ar\/posts\/media\/664b23823b18930008f6d512\/%D9%88%D8%B2%D9%8A%D8%B1%20%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9..%20%D9%81%D9%89%20%D9%85%D8%A4%D8%AA%D9%85%D8%B1%20%D9%85%D8%B1%D9%83%D8%B2%20%D8%A7%D9%84%D9%85%D8%B9%D9%84%D9%88%D9%85%D8%A7%D8%AA%20%D9%88%D8%AF%D8%B9%D9%85%20%D8%A7%D8%AA%D8%AE%D8%A7%D8%B0%20%D8%A7%D9%84%D9%82%D8%B1%D8%A7%D8%B1%20%D8%A8%D9%85%D8%AC%D9%84%D8%B3%20%D8%A7%D9%84%D9%88%D8%B2%D8%B1%D8%A7%D8%A1..%20%D9%81%D9%89%20%D8%AC%D8%A7%D9%85%D8%B9%D8%A9%20%D8%A7%D9%84%D9%82%D8%A7%D9%87%D8%B1%D8%A9%3A%20%20%20%D8%A8%D8%AF%D8%A3%D9%86%D8%A7%20%D9%85%D8%B1%D8%AD%D9%84%D8%A9%20%D8%AA%D8%B5%D8%AD%D9%8A%D8%AD%D9%8A%D8%A9%20%D9%84%D9%85%D8%B3%D8%A7%D8%B1%20%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%20%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%89%20%D9%84%D8%AA%D8%AC%D8%A7%D9%88%D8%B2%20%D8%A7%D9%84%D8%AA%D8%AD%D8%AF%D9%8A%D8%A7%D8%AA%20%D8%A7%D9%84%D8%AE%D8%A7%D8%B1%D8%AC%D9%8A%D8%A9%20%D9%88%D8%A7%D9%84%D8%AF%D8%A7%D8%AE%D9%84%D9%8A%D8%A9%20%D9%88%D8%A7%D9%84%D8%AD%D8%AF%20%D9%85%D9%86%20%D8%A7%D9%84%D9%85%D8%AE%D8%A7%D8%B7%D8%B1%20%D8%A7%D9%84%D9%85%D8%AD%D8%AA%D9%85%D9%84%D8%A9\" style=\"\" rel=\"noopener\">statement<\/a> from the ministry.<\/p>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our corner of the world is the undisputed big story around the world <\/strong>as journalists around the world take stock of death of Iran\u2019s president and foreign minister, the health of Saudi Arabia\u2019s King Salman, and the prospect of arrest warrants for the top leaders of Israel and Hamas.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#1- The International Criminal Court\u2019s chief prosecutor has <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.icc-cpi.int\/news\/statement-icc-prosecutor-karim-aa-khan-kc-applications-arrest-warrants-situation-state\" style=\"\" rel=\"noopener\">requested<\/a><\/strong><strong> arrest <\/strong><strong>warrants <\/strong><strong>for Israeli Prime Minister Benjamin Netanyahu<\/strong>, his defense minister, and three Hamas leaders on charges of war crimes and crimes against humanity. A panel of ICC judges will decide whether or not to accept the prosecutor\u2019s request. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US isn\u2019t happy: <\/strong>US President Joe Biden was quick to respond to the news. In a brief <a target=\"_blank\" href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2024\/05\/20\/statement-from-president-joe-biden-on-the-warrant-applications-by-the-international-criminal-court\/\" style=\"\" rel=\"noopener\">statement<\/a>, he called the move \u201coutrageous.\u201d Meanwhile, US Secretary of State Antony Blinken is <a target=\"_blank\" href=\"https:\/\/www.state.gov\/warrant-applications-by-the-international-criminal-court\/#:~:text=Fundamentally%2C%20this%20decision%20does%20nothing,States%20continues%20to%20pursue%20relentlessly.\" style=\"\" rel=\"noopener\">warning of the implications<\/a> of this move, saying that it could jeopardize ongoing efforts to reach a ceasefire agreement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The death of Iranian President Ibrahim Raisi has opened a conversation on the future of the<\/strong><strong> region\u2019s leadership<\/strong>, writes <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-20\/saudi-king-s-health-iran-leader-s-death-spark-succession-bets?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The business information service also points to questions about the health of King Salman, who is currently <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-king-undergo-tests-due-high-fever-state-news-agency-says-2024-05-19\/\" style=\"\" rel=\"noopener\">undergoing treatment<\/a> for a lung inflammation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WORTH READING- <\/strong>The <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/iran-government-future-raisi-khamenei-succession-mojtaba-6d3b970bce0c6d436b25b550d887ceaf\" style=\"\" rel=\"noopener\">AP<\/a> is out with a piece asking \u201cwhat\u2019s next for Iran\u2019s government?\u201d Among the questions is who among the hard-liners could step into the presidency.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND IN TECH NEWS- <\/strong>Microsoft <a target=\"_blank\" href=\"https:\/\/blogs.microsoft.com\/blog\/2024\/05\/20\/introducing-copilot-pcs\/\" style=\"\" rel=\"noopener\">announced<\/a> its Copilot+ PCs, which it is billing as \u201cthe fastest, most intelligent Windows PCs ever built\u201d \u2014 designed for AI, of course, as is the flavor of the day. The device will call on AI to perform tasks such as helping users recall things they have come across on their computer. Look for it to be available starting 18 June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Wall Street Journal\u2019s Joanna Stern is no shill<\/strong>, and she\u2019s impressed, writing that the device \u2014 which she\u2019s had the chance to play with \u2014 left her thinking that <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/personal-tech\/microsoft-ceo-satya-nadella-interview-ai-laptops-76eef1e1\" style=\"\" rel=\"noopener\">\u201cWindows is exciting again.\u201d<\/a> The bottom line: \u201cThey\u2019ve got improved performance, battery life and enhanced AI features. Finally, Microsoft is promising some real competition to Apple\u2019s M-powered MacBooks.\u201d <a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2024\/5\/20\/24160463\/microsoft-windows-laptops-copilot-arm-chips-m1\" style=\"\" rel=\"noopener\">The Verge\u2019s Tom Warren<\/a> has more.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2021\/03\/INFINITY-Top-banner-EN-1600x675-v2-02.png\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We sat down with the founder and chairman of Sullex, a cold chain developer that\u2019s building an innovative project south of Giza, which will help cut down on food waste and change how food producers operate<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"620428 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=\"620428\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/620428\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620428\" class=\"content-area-description single-story post-620428 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1171.png?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"\">Discover your dream getaway with our signature collection of vacation homes and let our expert<\/span><span> 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=\"620429\" 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=\"620429\">\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\">Finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/jordanian-sme-lender-liwwa-is-looking-to-set-up-shop-in-egypt\/\">\r\n                            Jordanian SME lender liwwa is looking to set up shop in Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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      <!-- <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=Jordanian+SME+lender+liwwa+is+looking+to+set+up+shop+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F05%2F21%2Fjordanian-sme-lender-liwwa-is-looking-to-set-up-shop-in-egypt%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\/21\/jordanian-sme-lender-liwwa-is-looking-to-set-up-shop-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1583.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"620430\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/jordanian-sme-lender-liwwa-is-looking-to-set-up-shop-in-egypt\/1583-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1583.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1583.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1583.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1583.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620429\" class=\"content-area-description single-story post-620429 post type-post status-publish format-standard has-post-thumbnail hentry category-finance tag-debt tag-enterpriseam tag-finance tag-fintech tag-smes tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.dc82923d-04b9-4149-9e5f-a0e54cfc4085.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Jordan\u2019s <\/strong><strong>l<\/strong><strong>iwwa<\/strong><strong> wants to set up shop in Egypt:<\/strong> Jordanian SME lender <a target=\"_blank\" href=\"https:\/\/liwwa.com\" style=\"\" rel=\"noopener\">liwwa<\/a> has <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1545.pdf\" style=\"\" rel=\"noopener\">secured (pdf)<\/a> a USD 5 mn loan from the US International Development Finance Corporation (DFC) which will be used for on-lending to SMEs in Jordan and supporting the company\u2019s plan to launch in Egypt, liwwa\u2019s CEO Dennis Ardis (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/dennis-ardis-013a25a5\/?original_referer=https%3A%2F%2Fwww%2Egoogle%2Ecom%2F&amp;originalSubdomain=jo\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) told Enterprise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When will Egypt operations kick off?<\/strong> Liwwa is currently raising funds to meet the paid-in-capital requirement for the SME finance license in Egypt, Ardis told us. Egypt is expected to add USD 11.5 mn to the company\u2019s portfolio during the first year of launch, he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on liwwa:<\/strong> Founded in 2013, liwwa is an online marketplace for debt that connects SMEs with potential lenders. The company focuses on retail and wholesale businesses, with its largest segments being the food and beverage and pharma sectors, Ardis said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Liwwa has raised USD 13.9 mn in equity since its inception<\/strong>, Ardis told us. Meanwhile, on the debt front, the company has raised USD 20.5 mn in term loans so far.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Liwwa seeks to provide loans at competitive rates for SMEs in Egypt: <\/strong>\u201cWe hope to leverage our ability to attract international funding \u2014 largely from DFIs \u2014 to provide competitive rates,\u201d Ardis said, adding that the company offers credit facilities that are \u201ctailored to small and medium businesses, which often require [larger facilities than] what is available through microfinance providers.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Flexible financing options that cater to SMEs needs could make liwwa stand out: <\/strong>Liwwa prides itself on its ability to cater to the financial needs of SMEs \u2014 the majority of fintech lenders which focus on consumer finance and microfinance, according to Ardis. \u201cWe also feel that our ability to offer fast flexible financing, without the same type of formal financial documents required by others, makes our value proposition particularly compelling.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/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=\"620431\" 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=\"620431\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/valu-raises-egp-617-mn-in-securitized-bonds\/\">\r\n                            Egypt\u2019s Valu raises EGP 617 mn 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\/21\/valu-raises-egp-617-mn-in-securitized-bonds\/\" 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\/21\/valu-raises-egp-617-mn-in-securitized-bonds\/')\">\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\/21\/valu-raises-egp-617-mn-in-securitized-bonds\/\">\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=Valu raises EGP 617 mn in securitized bonds&url=https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/valu-raises-egp-617-mn-in-securitized-bonds\/\">\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\/21\/valu-raises-egp-617-mn-in-securitized-bonds\/&title=Valu raises EGP 617 mn in securitized bonds\">\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=Valu+raises+EGP+617+mn+in+securitized+bonds+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F05%2F21%2Fvalu-raises-egp-617-mn-in-securitized-bonds%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\/21\/valu-raises-egp-617-mn-in-securitized-bonds\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1606.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"620432\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/valu-raises-egp-617-mn-in-securitized-bonds\/1606-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1606.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1606.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1606.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1606.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620431\" class=\"content-area-description single-story post-620431 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt tag-debt-watch tag-efg-holding tag-enterpriseam tag-securitization tag-valu 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\/.1313b260-46f8-42bf-8d4a-d1bc28fd85eb.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Valu has raised EGP 616.8 mn<\/strong><strong> in securitized bonds<\/strong>, part of a EGP 9 bn securitization program, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1595.pdf\" style=\"\" rel=\"noopener\">statement (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1595.pdf\" style=\"\" rel=\"noopener\">pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1595.pdf\" style=\"\" rel=\"noopener\">)<\/a>. The issuance was backed by an EFG for Securitization receivables portfolio with a six-month tenor tranche rated prime 1 and another 12-month tenor tranche rated prime 2.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember- Valu is gearing up for an EGX listing: <\/strong>Hassouna said in March that Valu plans to offer between 20-25% of its shares on the EGX within a year, Valu\u2019s CEO Walid Hassouna <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6a73f472-1962-487e-81a1-e1614da9298c\/valu-plans-to-ipo-within-a-year-%2B-jordan-expansion-pushed-back\" style=\"\" rel=\"noopener\">said<\/a> in March.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The issuance is Valu\u2019s ninth to date<\/strong> and follows an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/41a0d26f-e1eb-4475-bd9f-31cddb2ad817\/%253cmark%253evalu%253c%2Fmark%253e-raises-egp-888-mn-from-securitization-issuance\" style=\"\" rel=\"noopener\">EGP 888 mn issuance<\/a> in March. The company plans to issue a total of EGP 4 bn worth of securitized bonds in 2024, Hassouna said in earlier this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who subscribed?<\/strong> Bank ABC and Al Ahli Bank of Kuwait were among the subscribers to the issuance, the statement read.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> EFG Hermes was the sole financial advisor, transaction manager, bookrunner, underwriter, and arranger. Arab African International Bank served as the custodian bank and underwriter. Baker Tilly audited the transaction, while Dreny & Partners served as counsel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT-<\/strong> Companies have raised a little over EGP 10 bn from securitization so far this year, according to data tracked by Enterprise.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-holding\/\">EFG Holding<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/valu\/\">ValU<\/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=\"620433\" 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=\"620433\">\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\">A MESSAGE FROM VISA<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/unraveling-the-future-of-sme-financing\/\">\r\n                            Unraveling the future of SME financing                        <\/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\/21\/unraveling-the-future-of-sme-financing\/\" target=\"_blank\">\n                    Open in new tab                    <!-- 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href=\"https:\/\/x.com\/intent\/post?text=Unraveling the future of SME financing&url=https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/unraveling-the-future-of-sme-financing\/\">\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\/21\/unraveling-the-future-of-sme-financing\/&title=Unraveling the future of SME financing\">\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 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/unraveling-the-future-of-sme-financing\/1541-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1541.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1541.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1541.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1541.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620433\" class=\"content-area-description single-story post-620433 post type-post status-publish format-standard has-post-thumbnail hentry category-a-message-from-visa tag-a-message-from-visa tag-enterpriseam tag-smes tag-visa 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\/.988bdab9-1ec9-431b-b493-f12b8e8d510f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Tune into Access Tomorrow for an insightful discussion with <strong>Leila Serhan, Visa\u2019s <\/strong><strong>senior vice<\/strong><strong> president and group country manager<\/strong><strong> for North Africa, Levant, and Pakistan, alongside Craig Moore,<\/strong><strong> founder<\/strong><strong> and CEO of Beehive<\/strong> as they explore the evolving SME financing landscape and Beehive\u2019s innovative peer-to-peer lending platform for SMEs, established financial institutions, and investors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s on the agenda? <\/strong>The evolving SME financing landscape, fintech's role in regulatory navigation, and the collaborative efforts that are driving SME growth in today's economy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a target=\"_blank\" href=\"https:\/\/open.spotify.com\/episode\/478eNSw7HDPgJ6FZ2jldSC\" style=\"\" rel=\"noopener\">You can listen to the full episode here<\/a> <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/a-message-from-visa\/\">A MESSAGE FROM VISA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/visa\/\">Visa<\/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=\"620435\" 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=\"620435\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/snackmaker-edita-saw-its-bottom-line-rise-16-in-1q-2024\/\">\r\n                            Egyptian snackmaker Edita saw its bottom line rise 16% in 1Q 2024                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/snackmaker-edita-saw-its-bottom-line-rise-16-in-1q-2024\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/snackmaker-edita-saw-its-bottom-line-rise-16-in-1q-2024\/')\">\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\/21\/snackmaker-edita-saw-its-bottom-line-rise-16-in-1q-2024\/\">\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=Snackmaker Edita saw its bottom line rise 16% in 1Q 2024&url=https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/snackmaker-edita-saw-its-bottom-line-rise-16-in-1q-2024\/\">\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\/21\/snackmaker-edita-saw-its-bottom-line-rise-16-in-1q-2024\/&title=Snackmaker Edita saw its bottom line rise 16% in 1Q 2024\">\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=Snackmaker+Edita+saw+its+bottom+line+rise+16%25+in+1Q+2024+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F05%2F21%2Fsnackmaker-edita-saw-its-bottom-line-rise-16-in-1q-2024%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\/21\/snackmaker-edita-saw-its-bottom-line-rise-16-in-1q-2024\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1602.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"620436\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/snackmaker-edita-saw-its-bottom-line-rise-16-in-1q-2024\/1602-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1602.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1602.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1602.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1602.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620435\" class=\"content-area-description single-story post-620435 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-edita 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\/.2c71bd13-4c00-4cc7-898c-4a5dae6f9697.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A Molto good start to the year for Edita:&nbsp;<\/strong>Snackmaker Edita Food Industries \u2014 the firm behind kiosk favorites Todo Bomb, Molto and Twinkies \u2014 saw its bottom line surge to EGP 436.4 mn in 1Q 2024 marking a 16.2% y-o-y increase on the back of strong sales across all segments, the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1599.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a> and its accompanying <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1609.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. Edita\u2019s revenues rose 41.3% y-o-y to EGP 3.9 bn in the same period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Selling like hot cakes: <\/strong>Half of the quarter\u2019s revenues came from cake sales, which were up 33.1% y-o-y to record EGP 2 bn. Growth was echoed across Edita\u2019s smaller segments with bakery sales up 37.8% y-o-y to EGP 1.1 bn, wafers up 70.3% y-o-y to EGP 492.9 mn, and rusks were up 18.5% y-o-y to EGP 165.4 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Price hikes, product range cushioned increasing costs: <\/strong>\u201cEdita continued to adapt and optimize its portfolio in response to the challenges posed by inflationary pressures and currency devaluations by focusing on diversifying its product range and size, while expanding its price spectrum,\u201d the company said. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/edita\/\">Edita<\/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=\"620437 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=\"620437\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/620437\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620437\" class=\"content-area-description single-story post-620437 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/186.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"620438\" 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=\"620438\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/talk-shows-focus-on-the-icc-prosecutors-bid-to-charge-netanyahu-with-war-crimes\/\">\r\n                            Egyptian talk shows focus on the ICC prosecutor\u2019s bid to charge Netanyahu with war crimes                        <\/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\/21\/talk-shows-focus-on-the-icc-prosecutors-bid-to-charge-netanyahu-with-war-crimes\/\" 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 news received attention from Kelma Akhira (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=6szIrQfpOkI\" style=\"\" rel=\"noopener\">watch, runtime: 4:59<\/a>), El Hekaya (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=vi2oSVDcLRI\" style=\"\" rel=\"noopener\">watch, runtime: 30:03<\/a>), Masa\u2019a DMC (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=GDLEJKsqwN0\" style=\"\" rel=\"noopener\">watch, runtime: 9:41<\/a>) and Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=3ZhHf0JOwBk\" style=\"\" rel=\"noopener\">watch, runtime: 20:48<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Don\u2019t hold your breath waiting for arrests:<\/strong> \u201cThe ICC has no executive authority to implement its decisions,\u201d international law expert Ayman Salama told Kelma Akhira\u2019s Lamees El Hadidi (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=cEnGEfXA_0I\" style=\"\" rel=\"noopener\">watch, runtime: 9:46<\/a>). \u201cThe ICC is a permanent, independent body, it is not a special court, nor is it affiliated with the UN. It has 124 member countries, not including Israel,\u201d Salama said. The chief prosecutor\u2019s statements come in light of investigations that began in 2021 regarding crimes between Israelis and Palestinians in the Gaza Strip.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Eyes still on Iran: <\/strong>Talk shows continued their coverage of the death of Iranian President Ibrahim Raisi and his Foreign Minister Hossein Amirabdollahian after their helicopter crashed in the country\u2019s northwest. Kelma Akhira (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=6szIrQfpOkI\" style=\"\" rel=\"noopener\">watch, runtime: 4:59<\/a>), El Hekaya (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=0MLgZHWmebQ\" style=\"\" rel=\"noopener\">watch, runtime: 13:04<\/a>), Masa\u2019a DMC (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=3NJew3KMfEE\" style=\"\" rel=\"noopener\">watch, runtime: 7:14<\/a>), and Ala Masouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=b95DSU3gDVM\" style=\"\" rel=\"noopener\">watch, runtime: 9:31<\/a>) had the story. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO ON THE AIRWAVES- How can we make ride hailing apps safer? <\/strong>The House Communications Committee presented several recommendations to improve passenger safety and security for users of ride hailing applications, during a meeting on Monday attended by Uber representatives, Communications Committee head Ahmed Badawi told Hadrat El Mowaten (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=6QcLraVItZE\" style=\"\" rel=\"noopener\">watch, runtime: 4:48<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the recommendation list: <\/strong>Creating an SOS-style distress button within apps that can be used by the passenger or driver if they are exposed to danger, random monthly drug and alcohol tests for all drivers, criminal record certificates provided every six months, and placing stickers with driver data inside the car, audio recordings of trips with customer approval, and placing cameras inside cars. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why now? <\/strong>This comes hot on the heels of an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aa505420-3350-4686-a88d-d212eac041a2\/shoukry-denounces-israeli-claims-that-egypt-is-standing-in-the-way-of-the-opening-of-the-rafah-crossing\" style=\"\" rel=\"noopener\">attempted assault incident<\/a> of a young woman by her Uber driver and months after a similar case that ended with the passing of the victim. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path 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 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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=\"620441\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/egyptian-documentary-at-cannes-catches-the-attention-of-the-foreign-press\/\">\r\n                            Egyptian documentary at Cannes catches the attention of the foreign press                        <\/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 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<\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/egyptian-documentary-at-cannes-catches-the-attention-of-the-foreign-press\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1613.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"620442\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/egyptian-documentary-at-cannes-catches-the-attention-of-the-foreign-press\/1613-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1613.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1613.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1613.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1613.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620441\" class=\"content-area-description single-story post-620441 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-enterpriseam tag-film 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\/.abf4543f-4c4d-4757-8f71-53f5e3efca0b.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An Egyptian feminist coming-of-age story at this year\u2019s Cannes Film Festival: <\/strong><a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/live-news\/20240519-cannes-film-follows-egypt-feminists-on-brink-of-adulthood\" style=\"\" rel=\"noopener\">Agence<\/a><a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/live-news\/20240519-cannes-film-follows-egypt-feminists-on-brink-of-adulthood\" style=\"\" rel=\"noopener\">France-Presse<\/a> has taken note of The Brink of Dreams by Egyptian filmmakers Nada Riyadh and Ayman El Amir that premiered at the Cannes Film Festival on Friday. The film follows a group of teenage Coptic girls in southern Egypt over four years as they enter adulthood. Watch the trailer <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=x-DVKKdMvAE\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/film\/\">film<\/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=\"620443\" 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=\"620443\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/e-tax-to-digitize-real-estate-tax-authoritys-operations-plus-news-from-the-house-sameh-shoukry-madinet-masr\/\">\r\n                            Egypt\u2019s e-Tax to digitize Real Estate Tax Authority\u2019s operations                        <\/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\/21\/e-tax-to-digitize-real-estate-tax-authoritys-operations-plus-news-from-the-house-sameh-shoukry-madinet-masr\/\" 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\/21\/e-tax-to-digitize-real-estate-tax-authoritys-operations-plus-news-from-the-house-sameh-shoukry-madinet-masr\/')\">\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\/21\/e-tax-to-digitize-real-estate-tax-authoritys-operations-plus-news-from-the-house-sameh-shoukry-madinet-masr\/\">\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=E-Tax to digitize Real Estate Tax Authority\u2019s operations. PLUS: News from the House, Sameh Shoukry, Madinet Masr&url=https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/e-tax-to-digitize-real-estate-tax-authoritys-operations-plus-news-from-the-house-sameh-shoukry-madinet-masr\/\">\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\/21\/e-tax-to-digitize-real-estate-tax-authoritys-operations-plus-news-from-the-house-sameh-shoukry-madinet-masr\/&title=E-Tax to digitize Real Estate Tax Authority\u2019s operations. PLUS: News from the House, Sameh Shoukry, Madinet Masr\">\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=E-Tax+to+digitize+Real+Estate+Tax+Authority%E2%80%99s+operations.+PLUS%3A+News+from+the+House%2C+Sameh+Shoukry%2C+Madinet+Masr+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F05%2F21%2Fe-tax-to-digitize-real-estate-tax-authoritys-operations-plus-news-from-the-house-sameh-shoukry-madinet-masr%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\/21\/e-tax-to-digitize-real-estate-tax-authoritys-operations-plus-news-from-the-house-sameh-shoukry-madinet-masr\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1623.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"620444\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/e-tax-to-digitize-real-estate-tax-authoritys-operations-plus-news-from-the-house-sameh-shoukry-madinet-masr\/1623-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1623.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1623.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1623.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1623.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620443\" class=\"content-area-description single-story post-620443 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-e-finance tag-enterpriseam tag-house-of-representatives tag-logistics tag-madinet-masr tag-real-estate tag-retail tag-startups tag-tax 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\/.8b92c732-ac6b-46c1-b8de-99980538ae5d.mp3\"><\/audio><\/figure>\n<p class=\"tag-border-left\">TAX- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Real Estate Tax Authority partners with e-Tax to digitize operations: <\/strong>E-finance\u2019s electronic tax platform <a target=\"_blank\" href=\"https:\/\/www.etax.com.eg\/?lang=en\" style=\"\" rel=\"noopener\">e-Tax<\/a> has inked a contract with the Real Estate Tax Authority to help digitize its operations, e-Finance said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1553.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. E-Tax will work on creating \u201can information portal for the authority, e\u2010payment services, unified declarations, official registries, tax appeals, as well as other automated services.\u201d The company will also provide cybersecurity for the authority, technical hosting for its applications, and other services.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Just the beginning? <\/strong>\u201cThis agreement signifies the launch of a new and pivotal phase for the group, and its associated companies in moving forward with its ambitious project that aims to digitize the entire suite of services and transactions provided by the Ministry of Finance and its associated agencies,\u201d e-Finance Chairman Ibrahim Sarhan said. <\/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\">LEGISLATION WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MPs had a busy Monday: <\/strong>The House gave final approval to the Unified Ins. Law, which will draw up new and comprehensive rules for regulating the ins. industry and widen compulsory ins. coverage. They also approved a new bill allowing private investors to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c6dc104-3db3-48c3-9e76-dc380f534c89\/egypt%25e2%2580%2599s-house-gave-preliminary-approval-to-bill-allowing-private-investors-to-manage-public-health-facilities\" style=\"\" rel=\"noopener\">manage and operate public hospital and healthcare facilities<\/a> and a government-drafted bill that <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/707b3fb4-0a18-4a53-a311-adf2303c22e3\/this-fiscal-year%25e2%2580%2599s-budget-could-get-a-top-up\" style=\"\" rel=\"noopener\">unlocks an additional EGP 320 bn<\/a> for this fiscal year\u2019s budget. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The House also gave approval to an EGP 1.2 mn grant <\/strong>from the UN Population Fund to help the National Council for Human Rights implement its health and reproductive rights strategy in Egypt.<\/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\">REGULATION WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Customs exemptions for key goods extended: <\/strong>The Madbouly government has extended customs breaks for twelve key goods for a further three months as part of its ongoing battle to lower the price of goods and reel in inflation, according to a decision published in the Official Gazette. The goods \u2014 including certain types of poultry, offal, dairy, butter, cheese, tea, cooking fats and oils, sugar, pasta, ingredients for animal feed, and meds \u2014 were <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3d240d47-331c-491e-8011-e5092d22dfdb\" style=\"\" rel=\"noopener\">first given<\/a> a sixth-month exemption in October.<\/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\">DIPLOMACY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Strategic relations top the agenda during FM\u2019s Athens visit: <\/strong>Foreign Minister Sameh Shoukry discussed Egyptian-Greek relations with his Greek counterpart during his time in Athens, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/938401361663618\" style=\"\" rel=\"noopener\">statement<\/a> from the ministry. Discussions centered around advancing economic, trade, and investment ties as well as exploring cooperation in the tourism and maritime transport sectors. The two sides also discussed recent developments in Gaza, security threats in the Red Sea, and regional security. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Energy a priority topic: <\/strong>The two ministers affirmed the importance of cooperation in the energy sector with particular focus on expediting a project to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6b4cdf86-bd8c-496a-bb9f-a0a96ced5721\/egypt,-greece-explore-ways-to-fund-the%253cmark%253e-gregy-%253c%2Fmark%253einterconnector\" style=\"\" rel=\"noopener\">link the power grids of the two countries<\/a> \u2014 dubbed GREGY \u2014 that will enable exports of Egyptian renewable energy into Europe.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Making future plans:<\/strong> Shoukry invited the Greek side to participate in the Egypt-EU Joint Investment Conference <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea6c1f19-efbe-4bcd-b2d4-5721c0c14979\/el-sisi-reiterates-economic-promises-for-his-third-term\" style=\"\" rel=\"noopener\">scheduled for 29-30 June<\/a>.<\/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\">STARTUPS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Two Egyptian startups selected for the Mega Green Accelerator program: <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Local crop analytics startup Viridia Tech and biotech startup P-VITA were among eight MENA-based startups selected to join the <a target=\"_blank\" href=\"https:\/\/astrolabs.com\/themegagreenaccelerator\/\" style=\"\" rel=\"noopener\">Mega Green Accelerator<\/a> program, according to a <a target=\"_blank\" href=\"https:\/\/insight.astrolabs.com\/eight-start-ups-selected-for-mega-green-accelerator-to-advance-innovative-climate-solutions\/\" style=\"\" rel=\"noopener\">statement<\/a>. The eight startups \u2014 selected from a pool of 363 applicants \u2014 will receive funding and mentorship from industry experts to help scale up their business, with one of the companies set to be awarded USD 30k.<\/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\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Madinet Masr launches Tajed: <\/strong>Real estate developer Madinet Masr has launched Tajed, its first integrated commercial district project, at its Taj City project in New Cairo, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1604.pdf\" style=\"\" rel=\"noopener\">press release (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1604.pdf\" style=\"\" rel=\"noopener\">pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1604.pdf\" style=\"\" rel=\"noopener\">)<\/a>. Tajed will be divided into nine zones and will play host to commercial, business, and residential sites, the company said. The statement did not provide a timeline for the delivery of Tajed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A whole lot of diverse investments in the pipeline: <\/strong>Madinet Masr wants to invest between EGP 60-70 bn into non-residential projects over the next ten years as the company looks to diversify its portfolio, CEO Abdallah Sallam told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/05\/20\/1793981\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The real estate developer has already established a management company to take on its residential and non-residential projects.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-finance\/\">e-finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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<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=\"620445\" 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=\"620445\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/21\/top-us-official-voices-opposition-to-global-wealth-tax\/\">\r\n                            Top US official voices opposition to global wealth tax                       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data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1592.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1592.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1592.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620445\" class=\"content-area-description single-story post-620445 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-g7 tag-janet-yellen tag-planet-finance tag-tax tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.fd35fce2-f87f-43e5-b829-942daa670ea3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The US stands opposed to a global wealth tax: <\/strong>US Treasury Secretary Janet Yellen has made it clear that the US will not be backing a unified global wealth tax during upcoming G7 ministerial discussions, she told the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/policy\/a-global-tax-on-billionaires-janet-yellen-says-no-cdb22e2f?mod=hp_lead_pos2\" style=\"\" rel=\"noopener\">Wall Stre<\/a><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/policy\/a-global-tax-on-billionaires-janet-yellen-says-no-cdb22e2f?mod=hp_lead_pos2\" style=\"\" rel=\"noopener\">et Journal<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s a case to be made in favor of such a tax:<\/strong> Officials from Brazil, France, Spain, Germany, and South Africa have been mulling a proposal that would require bn\u2019aires to part with at least 2% of their overall wealth annually, arguing that a global tax would prevent the super-wealthy from shifting their assets to overseas tax havens and help address the widening income inequality.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yellen thinks otherwise:<\/strong> \u201cWe believe in progressive taxation. But the notion of some common global arrangement for taxing b\u2019naires with proceeds redistributed in some way \u2014 we\u2019re not supportive of a process to try to achieve that. That\u2019s something we can\u2019t sign on to,\u201d Yellen said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where the US currently stands:<\/strong> While the US already taxes its citizens on the global income they earn \u2014 which hampers efforts to avoid taxation by moving assets abroad \u2014 the concept of an annual tax on an individual\u2019s net worth remains off the table. Meanwhile, the Supreme Court is expected to soon address the constitutionality of wealth taxes \u2014 its decision could significantly impact future tax policy in the country.<\/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>AND- We\u2019re nearing the end of an era at JPMorgan <\/strong>as Jamie Dimon, 68, \u201csignaled retirement is closer than ever, striking a key change in messaging during the bank\u2019s investor day. \u201cThe timetable isn\u2019t five years anymore,\u201d he said, per <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/20\/jpmorgan-ceo-jamie-dimon-retirement-approaching.html\" style=\"\" rel=\"noopener\">CNBC<\/a>.<\/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>And for our fellow Finance Bros of a Certain Age\u2122: Ivan Boesky has died at age 87. <\/strong>The American trader came to personify the excesses of arbitrage and insider trade in the 1980s, ultimately pleading guilty to conspiracy charges that signaled the unraveling of the \u201cgreed is good\u201d era on Wall Street. Boesky became famous for paying massive sums for inside information that allowed him to structure trades. His case prompted the US securities regulator to properly define insider trading for the first time. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fast fact: <\/strong>A commencement speech on the power of greed that Boesky delivered became the inspiration for the \u201cgreed is good\u201d line attributed to the character Gordon Gecko in Oliver Stone\u2019s Wall Street. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>See obituaries<\/strong> inthe <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/fb1f730b-141d-4a38-a867-da2403823566\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/05\/20\/business\/ivan-f-boesky-dead.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/regulation\/ivan-boesky-convicted-in-1980s-insider-trading-scandals-dies-0f324945\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>.<\/p><p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wall Street cheered Microsoft\u2019s new \u201cAI\u201d PC line<\/strong>, sending the tech-heavy Nasdaq to a record high yesterday, but Asian markets are nonplussed, with all but the Nikkei down in early trading this morning. European and US equities futures were down slightly overnight. <\/p><p><a target=\"_blank\" id=\"t.4386f759f35ab770ed50f339fc7bdefa7886e7a5\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27,229<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +9.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 46.56<\/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 46.69<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 46.59<\/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 46.69<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,125<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +1.3%)<\/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\">9,038<\/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-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,067<\/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: -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\">5,308<\/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: +11.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,424<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +8.9%)<\/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>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\">5,074<\/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: +12.2%)<\/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>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 83.71<\/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%<\/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 2.74<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,431<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 69,123<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+4.5% (YTD: +64.1%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 0.3% at yesterday\u2019s close<\/strong> on turnover of EGP 4.8 bn (0.8% below the 90-day average). Egyptian investors were net buyers. The index is up 9.4% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Orascom Construction (+5.3%), Talaat Moustafa Group (+3.0%) and EIPICO (+2.5%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Eastern Company (-4.8%), Orascom Development (-3.9%) and E-finance (-3.3%).<\/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>Orascom Construction will pay a dividend of USD 0.2 per share <\/strong>in August on its 2023 earnings, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1546.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a> to the Nasdaq Dubai. Dividends will be paid out in USD to shareholders on the Nasdaq Dubai and in the EGP equivalent to shareholders on the EGX.<\/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\/g7\/\">G7<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/janet-yellen\/\">Janet Yellen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"620447\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">10<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/meet-sullex-the-cold-chain-developer-that-seeks-to-transform-food-manufacturing-in-egypt\/\">\r\n                            Meet SulleX, the cold chain developer that seeks to transform food manufacturing in Egypt<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/meet-sullex-the-cold-chain-developer-that-seeks-to-transform-food-manufacturing-in-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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We spoke with Andrew Daniel (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/andrew-daniel-37773449\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), the founder and chairman of SulleX, to learn more about the company and what it does. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The problem: <\/strong>Egypt sees an average of 91 kgs of food wasted per capita each year, according to <a target=\"_blank\" href=\"https:\/\/www.fao.org\/egypt\/news\/detail-events\/en\/c\/1635022\/#:~:text=In%20a%20study%20by%20FAO,all%20food%20and%20agricultural%20systems\" style=\"\" rel=\"noopener\">estimates<\/a> by the National Center for Social and Criminological Research cited by the UN\u2019s FAO. Nearly two thirds of food loss occurs during production, handling, processing, and distribution, while one third occurs at the consumer level, according to a <a target=\"_blank\" href=\"https:\/\/openknowledge.fao.org\/server\/api\/core\/bitstreams\/2357e8f2-fdc6-4cf2-9580-df6ab10d2e0f\/content\" style=\"\" rel=\"noopener\">publication<\/a> by FAO. A significant portion of that loss comes on the back of inadequate refrigeration and transportation systems. Below are edited excerpts of our conversation with Daniel: <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SulleX is the first industrial and logistics cold chain hub in Egypt.<\/strong> The company was established two years ago. We secured a 509k sqm plot of land in Giza and are in the process of turning it into a refrigerated logistics industrial zone \u2014 dubbed <a target=\"_blank\" href=\"https:\/\/www.sullex.com\/project\/sullex-trc\/\" style=\"\" rel=\"noopener\">SulleX-TRC<\/a> \u2014 that serves five governorates: Giza, Fayoum, Beni Suef, Minya, and Assiut.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refrigerated food manufacturing in Egypt faces a double whammy:<\/strong> Firstly, the capital expenditures needed to set up cold chains are very steep. The rule of thumb for investing in chilled products and concentrates is to allocate two-thirds of capex to refrigerators \u2014 with just just a third of expenditures going into factory establishment. The hefty costs of refrigerators are a significant barrier to entry, discouraging many from investing in chilled food production.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Secondly, there\u2019s the issue of underutilization.<\/strong> Take potato producers, for example. Their expensive refrigeration units sit idle for two months out of the year. This inefficiency drives up the price of the final product due to fixed overhead costs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In a bid to address these two challenges, we studied the market in the five governorates <\/strong><strong>we<\/strong><strong> are targeting.<\/strong> Our research found that 30% of vegetables and fruits are lost due to a lack of proper cold chain infrastructure. For instance, tomato farmers shared how, during some seasons, they leave their crops to spoil due to the high costs of transporting them, opting instead to convert them into fertilizer.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>These insights paved the way to our solution:<\/strong><strong>A shared network of cold chain <\/strong><strong>infrastructure located near farms<\/strong> that would allow farmers to extend the shelf life of their crops and sell them off season \u2014 all whilst cutting costs for agricultural producers. Our cold chain approach is different; we build an industrial zone, invest in refrigerators on behalf of agricultural factories, and place these refrigerators strategically throughout the zone so that there is one at the back door of every factory. This model of shared refrigeration allows factories to focus on production without the crippling costs of individual refrigeration units. Instead, we give them the flexibility of paying for a monthly storage fee per pallet position.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In addition to refrigerator rental, we offer factories through turnkey sales contracts<\/strong> known as engineering, procurement, and construction (EPC) agreements. We provide two different factory sizes and can tailor factories to cater to the producer\u2019s needs. We also help producers secure financing through a bank that we are currently negotiating with.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SulleX-TRC will have five collection centers that operate within a hub and spoke model.<\/strong> Each center collects produce from farmers and transports it via refrigerated trucks to our central hub in Giza, where it is stored in large-scale refrigerators. Factories access this stock for production, and finished products are then placed back into the refrigerators if not immediately sold. Farmers only pay for the services they receive \u2014 maximizing their resource utilization while gaining access to an export zone.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We aim to cut back food loss along the cold chain by 30% <\/strong>\u2014 16% will be saved in the farm-to-collection centers process and 8% will be saved in the transport of goods using refrigerator trucks.Some 6% will be saved during the manufacturing process \u2014 which we will achieve by addressing leakage problems and cooling defects in the production process.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Next week, we\u2019ll sign a contract with Schneider Electric that will allow Sullex-TRC to <\/strong><strong>become the first smart industrial logistics city in the Middle East.<\/strong> We will work with Schneider to roll out a tracking system \u201cfrom farm to fork.\u201d For example, we\u2019ll be able to track a tomato\u2019s journey from the field in Egypt all the way to the final consumer in Italy or Spain \u2014 all through a label. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Smart solutions all around: <\/strong>One of the problems with refrigerated transport that has tarnished the reputation of some Egyptian products is that some refrigerated truck owners would turn off their refrigerators for some time mid-journey, causing the products to spoil. To address this, we\u2019ll be equipping trucks with data loggers. We want to introduce smart solutions that track factors like temperature, lighting, cooling, and security at every stage.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The city will run on solar energy to cut back electricity costs<\/strong>, which account for 85-90% of refrigeration expenses. Solar power will cover 40% of the city's total energy consumption, estimated at 80 MWh. We are trying to secure a plot of land in Giza\u2019s industrial city of Tarboul to expand our solar capabilities. Leveraging solar energy is essential to SulleX, whose sister company, <a target=\"_blank\" href=\"https:\/\/irs-c.com\/\" style=\"\" rel=\"noopener\">IRSC<\/a>, is a major renewables player. Set up in 2011, IRSC is a leading company in installing solar stations for industrial and commercial facilities in the local market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The hub\u2019s first factory is expected to come online in 12-15 months<\/strong> and we hope to complete the entire project within 4.5-6 years from now. The hub will encompass 60 factories alongside 13 refrigerators with a capacity of 15k pallets each. So far, 60% of the space available in our first phase has been reserved by manufacturers. The goal is to recoup refrigerator costs within 7 years of operation and factory costs within a little over 3 years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Food security cannot be achieved without sustainability. <\/strong>We want to build an export hub that meets global sustainability requirements and we aim to leverage solar energy to do so. The EU\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63f69456-ee23-4b0d-ab40-cf8156033b69\/\" style=\"\" rel=\"noopener\">Carbon Border Adjustment Mechanism<\/a> (CBAM) currently targets five energy-intensive industries, including fertilizers, which indirectly affects the food industry. We expect that sooner or later all industries will be subject to the requirements of CBAM, so we\u2019re gearing up to meet any future sustainability requirements from buyers worldwide. All our refrigerators will be ISO-certified, and the factories will strive to receive the EDGE green building certification. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Plans are in place to set up four more hubs like SulleX-TRC in Egypt<\/strong>, each catering to five governorates. One will be located in Beheira\u2019s Badr city, where there is a big market gap, seeing as it is home to Egypt\u2019s largest strawberry production. This refrigerated logistics industrial hub would also serve the eastern delta region. We are also looking into establishing another hub near the Mediterranean Sea to support the western delta region, a third city in the Bahariya Oasis, and a fourth in eastern Uwaynat.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Producers get a host of perks:<\/strong> We are in talks with one of the world\u2019s largest shipping companies to facilitate exports for producers. We also help producers market their products abroad, and we\u2019re working with the Agriculture Ministry to set up a residue analysis lab to meet export standards. SulleX will also offer producers incentives in the form of a rewards application and ins. services. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The project\u2019s potential extends beyond Egypt\u2019s borders: <\/strong>Talks are underway with an African country that\u2019s interested in replicating the SulleX model. While Egypt sees 30% food loss due to inadequate refrigeration, some 75-80% of dairy products in Africa are lost due to the same reason as well as electricity shortages. Our model of integrated, self-sufficient cities powered by solar energy and batteries can address critical infrastructure needs in Africa as well as other regions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top green economy stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>USD 1.2 bn in green financing in the works: <\/strong>Negotiations have started for Egypt to access <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/76a0a985-9e76-4ce5-a155-8bfa25b6f658\/egypt-has-kicked-off-negotiations-with-the-imf-over-a-usd-1.2-bn-green-financing-package\" style=\"\" rel=\"noopener\">USD 1.2 bn<\/a> in long-term, low-cost climate financing from the IMF's Resilience and Sustainability Facility, according to the Environment Ministry. <\/li>\n<li><strong>A whole lot of green projects up for grabs:<\/strong> Egypt\u2019s green economy <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/571d6cf7-d827-49c1-aa05-a97d8726d6af\/egypt%25e2%2580%2599s-central-banks-pulls-a-record-egp-1.1-tn-in-liquidity-from-the-banking-sector\" style=\"\" rel=\"noopener\">offers USD 120<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/571d6cf7-d827-49c1-aa05-a97d8726d6af\/egypt%25e2%2580%2599s-central-banks-pulls-a-record-egp-1.1-tn-in-liquidity-from-the-banking-sector\" style=\"\" rel=\"noopener\">bn<\/a> worth of potential investments through 2035.<\/li>\n<li><strong>Sun Way acquires two local firms: <\/strong>Egyptian renewable energy firm <a target=\"_blank\" href=\"https:\/\/sunwayegyptepc.com\/\" style=\"\" rel=\"noopener\">Sun Way Egypt<\/a> has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3cbce8f-3024-45c9-9d6c-75f00e06c41b\/giz-support-for-egyptian-food-and-agriculture-smes\" style=\"\" rel=\"noopener\">completed its acquisition<\/a> of Go Solar and Green Solar both of which operate in the installation and supply of solar energy projects.<\/li>\n<li><strong>No need to stop for gas: <\/strong>Our friends at renewables firm Infinity will be <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/957554ee-ad50-4d6b-b0ff-05b639dd987b\/gb-logistics-launches-bonded-warehouse-services\" style=\"\" rel=\"noopener\">providing<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/957554ee-ad50-4d6b-b0ff-05b639dd987b\/gb-logistics-launches-bonded-warehouse-services\" style=\"\" rel=\"noopener\">charging solutions<\/a> for owners of the MG4 EV models under a strategic partnership with the exclusive importer of MG vehicles in Egypt Mansour MG Automotive.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"620449\" 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\/21\/620449\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620449\" class=\"content-area-description single-story post-620449 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;\">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>29 May (Wednesday): Virtual launch of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.chicagobooth.edu\/executiveeducation\/programs\/management\/executive-program-el-gouna\" style=\"\">Chicago Booth Executive Program<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15-19 June (Saturday-Wednesday): Eid El Adha (TBC) (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29-30 June (Saturday-Sunday): EU-Egypt Investment Conference.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 June (Sunday): June 30 Revolution Day (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">7 July (Sunday): National holiday in observance of Islamic New Year (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">18 July (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23 July (Tuesday): Revolution Day (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">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>2-5 September (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.airport-technology.com\/sponsored\/dates-announced-for-egypt-international-airshow-2024\/\" style=\"\">Egypt International Airshow<\/a><\/span><span style=\"font-weight:400;\">, 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>25-26 September (Wednesday - Thursday): The Asian Infrastructure Investment Bank\u2019s (AIIB) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aiib.org\/en\/news-events\/events\/annual-meetings\/2024\/index.html\" style=\"\">2024 annual meeting<\/a><\/span><span style=\"font-weight:400;\">, 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>21-27 October (Monday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.imfconnect.org\/content\/imf\/en\/annual-meetings\/FutureMeetings.html\" style=\"\">The World Bank and IMF annual meetings<\/a><\/span><span style=\"font-weight:400;\">.<\/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>February-May: The Grand Egyptian Museum could officially <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/news\/story\/737b1347-f02b-4ee0-87c1-032c0c858611\" style=\"\">open to visitors<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>March 2024: The USD 2.7 bn MIDOR Refinery is <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02dRebZwURzVR2tNZ8WZppCHRp2dTiHnNbi9RGkkfpdvfPGHaZpkgmCVCtXiL6bAV3l\" style=\"\">set to begin<\/a><\/span><span style=\"font-weight:400;\"> 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>June 2024: Gov\u2019t expects to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/news\/story\/cfdc99d8-291f-4b7c-8af8-8e1cccc74de5\" style=\"\">finalize sale<\/a><\/span><span style=\"font-weight:400;\"> 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>November 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LLPJRjsu6SZLwtRHuLmCQxoAZB3xaXVXH8aYkMSEH3ae4aW6JCZaPe5h5u9nKmcRl\" style=\"\">Egypt to host<\/a><\/span><span style=\"font-weight:400;\"> 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\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>Tourism incentives | Custom exemptions | Liwwa is coming to Egypt | Shoukry in Athens.<\/p>\n","protected":false},"featured_media":620425,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-620424","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"a37c6a1d-6788-41c2-8ba5-299698fc0371","teaser":"Tourism incentives | Custom exemptions | Liwwa is coming to Egypt | Shoukry in Athens.","photo_url":"https:\/\/ent.news\/2024\/5\/1632.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>MPs approve bill allowing private investors to manage public hospitals - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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