{"id":620589,"date":"2024-05-23T00:00:00","date_gmt":"2024-05-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=620589"},"modified":"2025-12-17T05:57:30","modified_gmt":"2025-12-17T05:57:30","slug":"the-third-tranche-of-our-imf-loan-program-is-imminent-an-imf-delegation-is-in-town","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/the-third-tranche-of-our-imf-loan-program-is-imminent-an-imf-delegation-is-in-town\/","title":{"rendered":"The third tranche of our IMF loan program is imminent \u2014 an IMF delegation is in town"},"content":{"rendered":"<section id=\"620591\" 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=\"620591\">\r\n            \r\n                <div class=\"issue-story-header 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style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.b3caf888-eedc-43e1-b529-61573f94a8c8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, ladies and gentlemen. <\/strong>We are closing out this extremely hot week on a high note, with an IMF delegation in Cairo, making us believe the third tranche of our USD 8 bn loan agreement is around the corner. We are also keeping our eyes peeled for the central bank\u2019s decision on interest rates when its Monetary Policy Committee meets up later today. <\/p><p class=\"tag-border-left\">WATCH THIS SPACE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- Third review on the way? <\/strong>Representatives from the IMF are in town to conduct the third review of our loan program, two government sources told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/64055\/%D8%A8%D8%B9%D8%AB%D8%A9-%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D9%86%D9%82%D8%AF-%D8%AA%D8%B2%D9%88%D8%B1-%D9%85%D8%B5%D8%B1-%D9%84%D8%A5%D8%AC%D8%B1%D8%A7%D8%A1-%D8%A7%D9%84%D9%85%D8%B1%D8%A7%D8%AC%D8%B9%D8%A9-%D8%A7%D9%84%D8%AB%D8%A7%D9%84%D8%AB%D8%A9\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The review will unlock the third USD 820 mn tranche of our USD 8 bn loan program. The third review is expected to be completed around 15 June, with the fourth review scheduled for September.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The IMF\u2019s Executive Board <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c0f153a1-4a27-4cda-9c1d-6dfc4681517b\/%253cmark%253eimf-%253c%2Fmark%253egreenlights-the-dispersal-of-usd-820-mn-after-approving-expanded-usd-8-bn-loan-program.-plus:-eu-fastracks-eur-1-bn-of-aid-package\" style=\"\" rel=\"noopener\">signed off on a USD 5 bn extension<\/a> for Egypt\u2019s extended fund facility and completed its long-delayed first and second reviews of the facility in late March, when it approved a decision to let the state immediately draw USD 820 mn. We <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8e5d9237-f343-4c81-90c5-9ecd7079059a\/egypt-receives-usd-820-from%253cmark%253e-imf%253c%2Fmark%253e--report\" style=\"\" rel=\"noopener\">unlocked the second tranche<\/a> in April.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#2- <\/strong><strong>Trading and settlement rul<\/strong><strong>es for the soon-to-be-established voluntary carbon market <\/strong><strong>will be released within \u201cthe next few weeks<\/strong>,\u201d Financial Regulatory Authority (FRA) head Mohamed Farid said in a <a target=\"_blank\" href=\"https:\/\/fra.gov.eg\/fra_news\/%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d8%b3%d8%aa%d9%83%d9%85%d9%84-%d8%ad%d9%88%d8%a7%d8%b1%d9%87%d8%a7-%d9%85%d8%b9-%d9%85%d8%ac%d8%aa%d9%85\/\" style=\"\" rel=\"noopener\">statement<\/a>. Once launched, the market will be the first voluntary carbon market in Africa. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The EGX in 2022 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/68268b61-5682-45af-a907-019ac3373c6a\" style=\"\" rel=\"noopener\">announced<\/a> that it would set up the market, which will allow companies in Egypt and Africa working on emissions-reducing projects to sell certified carbon credits, which can then be bought by other companies wanting to offset their emissions. The FRA released its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/580daa31-f377-4bba-9c75-7c5a009380c2\" style=\"\" rel=\"noopener\">carbon credit verification and certification standards<\/a> in August 2023.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- NUCA to sell land for FX: <\/strong>The New Urban Communities Authority is planning to sell land plots to 34 companies in exchange for foreign currency, after the <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0AHYngdSU3xwRGqyzLeuGf3fRqX8Z49GCMik6nMiuMmRtRD9JZeMydAodGEdSqVcRl\" style=\"\" rel=\"noopener\">cabinet greenlit<\/a> the move. The land is located across eight governorates and will be used for residential, commercial and administrative purposes.<\/p><p class=\"tag-border-left\">IPO WATCH-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1- More on Act Financial\u2019s IPO:<\/strong> Investment management firm Act Financial has set EGP 3.65 as the maximum price per share when it makes its market debut between the end of May and beginning of June, writes <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/64061\/365-%D8%AC%D9%86%D9%8A%D9%87-%D8%A7%D9%84%D8%AD%D8%AF-%D8%A7%D9%84%D8%A3%D9%82%D8%B5%D9%89-%D9%84%D8%B3%D8%B9%D8%B1-%D8%B7%D8%B1%D8%AD-30-%D9%85%D9%86-%D8%A3%D8%B3%D9%87%D9%85-%D8%A3%D9%83%D8%AA-%D9%81%D9%8A%D9%86%D8%A7%D9%86%D8%B4%D8%A7%D9%84-%D8%A8%D8%A8%D9%88%D8%B1%D8%B5%D8%A9-%D9%85%D8%B5%D8%B1\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>, citing two sources close to the discussions. Act Financial got the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/78190991-2ee3-4ed5-bcce-60e898351d57\/act-financial-gets-egx-approval-for-ipo-in-2q-2024\" style=\"\" rel=\"noopener\">green light last month<\/a> to list its shares on EGX. The company is looking to raise some EGP 1.3 bn from taking a 30% stake to market. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#2- ACUD IPO pushed back again: <\/strong>The Administrative Capital for Urban Development (ACUD) will be ready to make its EGX debut in 2025, chairman Khaled Abbas told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/05\/22\/1794803\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/13b15866-b6e1-4e27-97cd-61f38cacc5ed\/we%25e2%2580%2599ll-have-more-on-qalaa%25e2%2580%2599s-debt-buyback-soon\" style=\"\" rel=\"noopener\">recently pushed back<\/a> its timeline for selecting an international financial advisor for the offering until 4Q 2024, Abbas said earlier in the week. ACUD was aiming to offer 5-10% of its shares on the EGX in 2Q 2024.<\/p><p class=\"tag-border-left\">HAPPENING TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a><strong>It\u2019s decision time for the central bank:<\/strong> The Central Bank of Egypt\u2019s Monetary Policy Committee (MPC) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2493b4d0-5f98-4348-ba5d-16053210a875\/\" style=\"\" rel=\"noopener\">will meet later today<\/a> to review rates. This will mark the committee\u2019s first meeting since it delivered a jumbo 600 bps <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac569e2c-c6f2-480e-bdaa-3f1cd4f81d05\/\" style=\"\" rel=\"noopener\">rate hike<\/a> alongside the EGP float at a special meeting in early March.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>To cut, or not to cut: <\/strong>HSBC\u2019s chief economist for Central and Eastern Europe, the Middle East, and Africa Simon Williams told us earlier this week that it's <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c88ba83a-c6f0-4dcb-b69f-9031429c6f63\/hsbc%25e2%2580%2599s-simon-williams-on-how-to-think-about-the-economy-in-the-months-to-come\" style=\"\" rel=\"noopener\">possible, but unlikely<\/a> that the MPC will start cutting rates today. A cut now \u201cwould be premature \u2026 given the stress placed on restoring monetary policy credibility in the March IMF program and the importance of anchoring the new FX regime,\u201d he said. . <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The polls agr<\/strong><strong>ee: <\/strong>The MPC is expected to hold interest rates steady as inflation <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/54c385de-e76b-441d-9edf-fd578c68735a\/%253cmark%253einflation%253c%2Fmark%253e-cools-for-the-second-consecutive-month-in-april\" style=\"\" rel=\"noopener\">cools<\/a>, FX inflows pick up, and the EGP exchange rate against the greenback stabilizes, as unanimously forecasted in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/803aed9c-0811-4004-9d43-efa9f06ceaff\/\" style=\"\" rel=\"noopener\">our interest rate poll<\/a> of 11 analysts and economists earlier this week. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Goldman\u2019s goes against the grain: <\/strong>Goldman Sachs expects the MPC to cut rates by 150 bps, readjusting its previous forecast of a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/30aa187f-c195-4d78-ae33-1292315680a4\/authorities-are-working-on-facilities-to-attract-foreign-investors-to-private-freezones\" style=\"\" rel=\"noopener\">2% rate cut<\/a>, it said in a research note seen by <a target=\"_blank\" href=\"https:\/\/awp.net\/ar\/stories\/ghwldman-saks-ytwqe-khfd-almrkzy-almsry-asear-alfaydt-150-nqtt-asas-lknh-yra-mbrrat-mtwaznt-llibqae-elyha-dwn-tghyyr\/\" style=\"\" rel=\"noopener\">Arab World Press<\/a>.<\/p><p class=\"tag-border-left\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- Make sure your a\/cs are on high as we brace for another hot day. <\/strong>Cairo is looking at a high of 39\u00b0C and a low of 24\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s significantly cooler in Alexandria<\/strong>, with a high of 28\u00b0C and a low of 21\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And over the weekend, <\/strong>expect to see highs of 34\u00b0C and lows of 21\u00b0C in the capital.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?\u00a0<\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- A big week ahead for Arab diplomacy? <\/strong> The foreign ministers of Egypt, Saudi Arabia, the United Arab Emirates, Jordan and Qatar will <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/arab-eu-ministers-discuss-gaza-war-peace-efforts-2024-05-22\/\" style=\"\" rel=\"noopener\">join their 27 European Union counterparts<\/a> in Brussels on Monday for talks. Look for the war in Gaza and the post-war order there to take center stage.<\/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>#2-<\/strong><strong>One for the renewable energy enthusiasts:<\/strong> The USAID-backed <a target=\"_blank\" href=\"https:\/\/coe.engineering.asu.edu\/\" style=\"\" rel=\"noopener\">Center of<\/a><a target=\"_blank\" href=\"https:\/\/coe.engineering.asu.edu\/\" style=\"\" rel=\"noopener\">Excellence for Energy<\/a> is holding a stakeholder\u2019s meeting on Egypt\u2019s energy transition next Sunday at the Cairo Marriott Hotel in Zamalek. You can view the full agenda <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1670.pdf\" style=\"\" rel=\"noopener\">here (pdf)<\/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>#3- GITEX Africa 2024 places Egyptian tech startups at the forefront:<\/strong> Set to take place between 29-31 May, the second edition of <a target=\"_blank\" href=\"https:\/\/www.gitexafrica.com\/home\" style=\"\" rel=\"noopener\">GITEX Africa in Morocco<\/a> will see prominent enterprises, startups, and voices in tech from Egypt play a primary role in the event, according to a <a target=\"_blank\" href=\"https:\/\/gitex-africa.africa-newsroom.com\/press\/transforming-egypts-business-future-harnessing-technology-and-innovation-for-unprecedented-growth?lang=en\" style=\"\" rel=\"noopener\">press release<\/a> on the event\u2019s website. The event will feature \u201csome of the most innovative enterprises and startups,\u201d as well as government officials, tech leaders, and industry experts from 130 countries.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One story is on every front page this morning: <\/strong>AI darling-of-the-moment Nvidia.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The chipmaker\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/nvidianews.nvidia.com\/news\/nvidia-announces-financial-results-for-first-quarter-fiscal-2025\" style=\"\" rel=\"noopener\">1Q 2024 earnings<\/a><\/strong><strong> showed that sales had more than tripled to USD 20 <\/strong><strong>bn<\/strong>, topping analyst estimates and prompting many of them to suggest that the AI boom has legs. Net income was up almost 7x \u2014 sending its stock to a record USD 1,004 in after-hours trading. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why does it matter? <\/strong>\u201cNvidia\u2019s results have become a way for investors to gauge the strength of the AI boom that has transfixed markets in recent months,\u201d <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/22\/nvidia-nvda-earnings-report-q1-2025-.html\" style=\"\" rel=\"noopener\">CNBC writes<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Saudi Arabia and the US could be \u201cweeks away\u201d from a wide-ranging set of <\/strong><strong>accords <\/strong>that Washington hopes will pave the path for Riyadh to normalize relations with Israel. On the agenda are pacts on security and defense and nuclear power, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/blinken-says-us-saudi-pacts-could-be-weeks-away-completion-2024-05-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, while EnterpriseAM Saudi also expects there to be an agreement on artificial intelligence and advanced technologies.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Ireland, Norway, and Spain have said they will formally recognize the state <\/strong><strong>of Palestine. <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.irishtimes.com\/ireland\/2024\/05\/22\/irish-recognition-of-palestinian-state-widely-welcomed-but-criticised-by-israel-and-its-supporters\/\" style=\"\" rel=\"noopener\">Irish Times<\/a> has more and we take note of local reaction in this morning\u2019s Talk Shows, below. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- An early UK general election: <\/strong>A very wet UK Prime Minister Rishi Sunak called a general election for 4 July, ending months of speculation about when he would make the call. The elections are likely to mark a turning point in the UK government, with the Conservatives likely to lose to the opposition Labour Party \u2014 this would mark the end of a 14-year of Conservatives in power. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/uk\/rishi-sunak-calls-uk-national-election-july-4-2024-05-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/politics\/article\/2024\/may\/22\/why-has-the-uk-pm-called-a-general-election-whats-at-stake-and-what-happens-now\" style=\"\" rel=\"noopener\">The Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/uk-election-speculation-rishi-sunak-bcc72f7f262086e9b20f7dd80f88c91f\" style=\"\" rel=\"noopener\">AP<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WORTH READING THIS MORNING- <\/strong>Reuters is out with an investigative piece on how <strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/investigates\/special-report\/climate-change-loans\/\" style=\"\" rel=\"noopener\">wealthy<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/investigates\/special-report\/climate-change-loans\/\" style=\"\" rel=\"noopener\">nations are capitalizing on climate funding<\/a><\/strong> to developing nations, while the Wall Street Journal looks at the <strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/highest-paid-ceo-2023-charts-0d65be3b\" style=\"\" rel=\"noopener\">highest-paid CEOs in America<\/a><\/strong> last year. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><b>CORRECTION- <\/b>In the original version of this story, we mistakenly wrote that Act Financial will price its shares at EGP 3.65 for its upcoming market debut. The investment management company instead set the maximum offering price per share at EGP 3.65.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/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=\"620593 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=\"620593\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/23\/620593\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620593\" class=\"content-area-description single-story post-620593 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\/5\/1791.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">A week packed with joy. Experience the magic of Eid at Somabay:<\/span><span style=\"\">Celebrate the upcoming<\/span><span> Eid El Adha holiday with us at Somabay, from 14-22 June. Get ready for an exciting program packed with activities for families and kids, enchanting beach experiences, vibrant nightlife, revitalizing wellness offerings, and a delectable selection of culinary delights.<\/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=\"620594\" 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=\"620594\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/23\/philip-morris-snaps-up-14-7-stake-in-eastern-company\/\">\r\n                            Philip Morris snaps up 14.7% stake in Eastern Company                        <\/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\/23\/philip-morris-snaps-up-14-7-stake-in-eastern-company\/\" 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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Philip Morris bought the stake from new shareholder Emirati Global Investment Holding (GIH), Eastern CEO Hany Aman told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/64056\/%D9%81%D9%8A%D9%84%D9%8A%D8%A8-%D9%85%D9%88%D8%B1%D9%8A%D8%B3-%D8%AA%D8%B3%D8%AA%D8%AD%D9%88%D8%B0-%D8%B9%D9%84%D9%89-%D8%AD%D8%B5%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D8%B4%D8%B1%D9%82%D9%8A%D8%A9-%D9%84%D9%84%D8%AF%D8%AE%D8%A7%D9%86-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D9%85%D9%86-%D8%BA%D9%84%D9%88%D8%A8%D8%A7%D9%84-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. GIH sold 49% of its stake in the tobacco company, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> The acquisition will pave the way for the two companies to explore \u201clong-term collaboration\u201d in manufacturing, technology, and innovation \u2014 including heated tobacco products that aim to replace cigarettes \u2014 the statement reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We had an idea this was coming:<\/strong> Phillip Morris was reported to be <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/54c7e4ac-4d65-4d33-82d7-1ffa202da7cd\/philip-morris-mulls-minority-stake-in-egypt%25e2%2580%2599s-eastern-company--asharq-business\" style=\"\" rel=\"noopener\">eyeing a minority stake<\/a> in Eastern Company back in August \u2014 at the time it was said that Philip Morris will acquire the stake through its Egyptian subsidiary United Tobacco. United and Eastern are the only companies licensed to manufacture cigarettes in Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Eastern and United are already intertwined: <\/strong>Eastern Company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0959c415-48e7-4770-a114-3aed25887651\" style=\"\" rel=\"noopener\">agreed to purchase<\/a> a 24% stake in United Tobacco for EGP 100 mn in May 2022, a month after it struck an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cef56231-5a0a-4794-8d6a-78e88269eefc\" style=\"\" rel=\"noopener\">agreement<\/a> to allow the Philip Morris subsidiary to locally manufacture cigarettes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who owns what:<\/strong> Prior to the acquisition, the two biggest shareholders in Eastern were GIH and Chemical Industries Holding Company. GIH and an affiliate company owned a combined 33.29% stake in Eastern, while the state held a 20.95% share through its Chemical Industries Holding Company, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1821.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> GIH in November completed the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d42b0c32-513b-4c59-9cd3-ee95c9515f06\" style=\"\" rel=\"noopener\">purchase of a 30% stake<\/a> in Eastern in a USD 625 mn transaction, becoming its single-largest shareholder.<\/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\/eastern-company\/\">Eastern Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/philip-morris\/\">Philip Morris<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/united-tobacco\/\">UNited Tobacco<\/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=\"620596\" 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=\"620596\">\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\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/23\/wataniya-gets-seven-suitors-sfes-industry-sub-fund-to-launch-in-july\/\">\r\n                            Seven investors are lining up for a stake in Egyptian government-owned Wataniya                        <\/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\/23\/wataniya-gets-seven-suitors-sfes-industry-sub-fund-to-launch-in-july\/\" 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 government is filtering the offers for the long-awaited stake sale and will select one soon.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That\u2019s more than double the offers than we knew of:<\/strong> Last we heard, there were <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c6917ee5-d671-4da3-8343-001eb83e356f\" style=\"\" rel=\"noopener\">three final<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c6917ee5-d671-4da3-8343-001eb83e356f\" style=\"\" rel=\"noopener\">offers<\/a> remaining on the table for a 30% stake in the company, according to unconfirmed local media reports in February, and Prime Minister Moustafa Madbouly held a meeting a week later to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/186b8b0d-c93f-40db-960d-03e84dd9e709\" style=\"\" rel=\"noopener\">assess the final offers<\/a> submitted. Taqa Arabia is the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9ed0f878-77a6-4d08-8c51-91fc5ff5c0fb\" style=\"\" rel=\"noopener\">only firm<\/a> to have publicly declared interest in the filling station operator.<\/p>\n<p class=\"tag-border-left\">THE SFE\u2019S INDUSTRY SUB-FUND IS MONTHS AWAY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SFE\u2019s industry sub-fund to launch in July: <\/strong>The government is working with seven local investors across different industries to launch the Sovereign Fund of Egypt's (SFE) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7b5cd5d7-94eb-4391-bd8e-d6b1bd175704\/\" style=\"\" rel=\"noopener\">industry-focused sub-fund<\/a>, Fund chair El Said told <a target=\"_blank\" href=\"https:\/\/www.almasdar.com\/142132\" style=\"\" rel=\"noopener\">Al Masdar<\/a> yesterday. The government plans to launch the sub-fund in July, she added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What industries? <\/strong>The government is currently in talks with investors in the food, engineering, and building materials industries, as well as those working in industries that can feed into the National Egyptian Railway Industries Company\u2019s (NERIC) manufacture of railway and train supplies. Discussions are set to wrap up in June, just before the fund\u2019s launch.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The SFE will be touring the Gulf next month to drum up investment. The fund will meet with investors, financial institutions, and other sovereign funds to discuss potential investments on offer.<\/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\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wataniya-petroleum\/\">Wataniya Petroleum<\/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=\"620598\" 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=\"620598\">\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\">Healthcare<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/23\/the-health-ministry-to-work-with-private-sector-to-open-ten-new-hospitals-over-the-next-two-years\/\">\r\n                            Egypt\u2019s Health Ministry to work with private sector to open ten new hospitals over the next two years                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn 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\/23\/the-health-ministry-to-work-with-private-sector-to-open-ten-new-hospitals-over-the-next-two-years\/\" 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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years&url=https:\/\/enterpriseam.com\/egypt\/2024\/05\/23\/the-health-ministry-to-work-with-private-sector-to-open-ten-new-hospitals-over-the-next-two-years\/\">\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\/23\/the-health-ministry-to-work-with-private-sector-to-open-ten-new-hospitals-over-the-next-two-years\/&title=The Health Ministry to work with private sector to open ten new hospitals over the next two years\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+Health+Ministry+to+work+with+private+sector+to+open+ten+new+hospitals+over+the+next+two+years+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F05%2F23%2Fthe-health-ministry-to-work-with-private-sector-to-open-ten-new-hospitals-over-the-next-two-years%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\/23\/the-health-ministry-to-work-with-private-sector-to-open-ten-new-hospitals-over-the-next-two-years\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1845.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"620599\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/23\/the-health-ministry-to-work-with-private-sector-to-open-ten-new-hospitals-over-the-next-two-years\/1845-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1845.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1845.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1845.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1845.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620598\" class=\"content-area-description single-story post-620598 post type-post status-publish format-standard has-post-thumbnail hentry category-healthcare tag-enterpriseam tag-health-ministry tag-healthcare tag-universal-health-insurance 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\/.fa265f2f-85bf-490b-955f-4a46630c4213.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Health Ministry to work with private sector to set up ten hospitals over two years: <\/strong>The Health Ministry is in talks with local and foreign private players to to build ten hospitals across ten of the country\u2019s governorates within the next 24 months, the ministry\u2019s spokesman Hossam Abdel Ghaffar told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/05\/22\/%D9%85%D8%B3%D8%A4%D9%88%D9%84-%D9%85%D8%B5%D8%B1-%D8%AA%D8%AE%D8%B7%D8%B7-%D9%84%D8%AA%D9%86%D9%81%D9%8A%D8%B0-10-%D9%85%D8%B3%D8%AA%D8%B4%D9%81%D9%8A%D8%A7%D8%AA-%D8%A8%D8%A7%D9%84%D8%B4%D8%B1%D8%A7%D9%83%D8%A9-%D9%85%D8%B9-%D8%A7%D9%84%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%AE%D8%A7%D8%B5-%D8%AE%D9%84%D8%A7%D9%84-%D8%B9%D8%A7%D9%85%D9%8A%D9%86\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. The ten hospitals will add 3k beds to the country\u2019s capacity, with 200-300 beds in each hospital.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hot on the heels of an approved hospital privatization bill:<\/strong> The move comes following the approval from the House <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c6dc104-3db3-48c3-9e76-dc380f534c89\/\" style=\"\" rel=\"noopener\">earlier this week<\/a> to a bill allowing the private sector to manage and operate public hospitals and healthcare facilities in Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not just public hospitals that are on track for more private sector involvement: <\/strong>The government is aiming to up the private sector\u2019s role in the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2038f489-a513-4973-aebb-e852d15b092b\/looking-at-the-fiscal-year-ahead\" style=\"\" rel=\"noopener\">universal health ins. system<\/a> to 50%, up from 30%, according to a Finance Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0R3s7pWgDZP2WNRchrdfPpVr6PcoCCip1cwNA68SYJEyf5qSu1b5HDA5wXX85vKErl\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This mirrors its private sector targets for the sector as a whole: <\/strong>The Madbouly government is also looking to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1bd53619-0a0c-4348-81f9-766539179c3c\/%253cmark%253e%253c%2Fmark%253egov%253cmark%253e%253c%2Fmark%253e%25e2%2580%2599%253cmark%253e%253c%2Fmark%253et%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eunveils%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253enew%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eeconomic%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eand%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253esocial%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253edevelopment%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253etargets%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253efor%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ethe%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253enext%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253efiscal%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eyear%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">increase<\/a> the private sector\u2019s share in healthcare to 50% by 2027 \u2014 up from a current 30%.<\/p>\n<p class=\"tag-border-left\">AL MOUNEER TO POWER EYE CARE AT CAIRO\u2019S INT\u2019L MEDICAL CENTER<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More advanced ophthalmic care at the International Medical Center:<\/strong> Local healthtech startup <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/almouneer\/posts\/\" style=\"\" rel=\"noopener\">Almouneer<\/a> has partnered with Cairo\u2019s <a target=\"_blank\" href=\"https:\/\/www.imc.org.eg\/\" style=\"\" rel=\"noopener\">International Medical Center<\/a> to provide tech for ophthalmology and eye surgeries, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1903.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. It will also set up a specialized center for eye care.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Almouneer?<\/strong> The women-owned startup supports sufferers of chronic diseases such as diabetes via its digital platform DRU. Almouneer currently maintains a customer base of over 120k users. Almouneer <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/845e706f-c29d-460c-abfd-d68689e5d694\/health-startup%253cmark%253e-almouneer%253c%2Fmark%253e-lands-usd-3.6-mn-in-seed-round\" style=\"\" rel=\"noopener\">raised USD 3.6 mn<\/a> from investors in a seed round in November. <\/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\/health-ministry\/\">Health Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/universal-health-insurance\/\">universal health insurance<\/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=\"620600\" 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=\"620600\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/23\/beltone-vc-arm-leads-funding-round-for-local-proptech-startup\/\">\r\n                            Beltone VC arm leads funding round for Egyptian proptech startup:                        <\/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\/23\/beltone-vc-arm-leads-funding-round-for-local-proptech-startup\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                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startup&url=https:\/\/enterpriseam.com\/egypt\/2024\/05\/23\/beltone-vc-arm-leads-funding-round-for-local-proptech-startup\/\">\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\/23\/beltone-vc-arm-leads-funding-round-for-local-proptech-startup\/&title=Beltone VC arm leads funding round for local proptech startup\">\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=Beltone+VC+arm+leads+funding+round+for+local+proptech+startup+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F05%2F23%2Fbeltone-vc-arm-leads-funding-round-for-local-proptech-startup%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\/23\/beltone-vc-arm-leads-funding-round-for-local-proptech-startup\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1883.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"620601\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/23\/beltone-vc-arm-leads-funding-round-for-local-proptech-startup\/1883-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1883.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1883.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1883.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1883.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620600\" class=\"content-area-description single-story post-620600 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-beltone-holding tag-beltone-venture-capital tag-enterpriseam tag-real-estate tag-startup-watch tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.fa58291e-9755-4a36-8f0c-f806f2bb4810.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Proptech startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/birdnestlife.com\/home\" style=\"\" rel=\"noopener\">Birdnest<\/a><\/strong><strong> has closed a pre-series A funding round <\/strong>led by Beltone Venture Capital \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7fc94bfc-608b-48b6-a28b-cfa610c0f024\/%253cmark%253ebeltone%253c%2Fmark%253e%25e2%2580%2599s-got-cash,-launches-vc-arm\" style=\"\" rel=\"noopener\">Beltone Holding\u2019s venture capital arm<\/a> \u2014 and the UAE\u2019s Citadel International Holding\u2019s CI Venture Capital, the startup said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1847.pdf\" style=\"\" rel=\"noopener\">statement (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1847.pdf\" style=\"\" rel=\"noopener\">pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1847.pdf\" style=\"\" rel=\"noopener\">)<\/a>. The investors poured an undisclosed sum in Birdnest in exchange for a 20% stake in the company. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where are the funds going? <\/strong>The funds will support the expansion of Birdnest\u2019s regional team and the development of its technology and marketing strategies to extend the company\u2019s market access, the statement said. The fresh funds will also help the company expand its footprint locally and step foot into new markets, namely Athens, Dubai, and Riyadh, as \u201cpart of Birdnest's ambitious strategy to partner with real estate developers, institutional investors, and independent property owners.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Birdnest? <\/strong>The home grown proptech startup provides tech-enabled rental management services facilitating checking in, making rent payments and unlocking doors. Birdnest has over 200 properties across Egypt in its portfolio for short and long-term rental. The startup also provides furnishing services for properties, offering \u201cpre-curated designs,\u201d the website said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>Arch Capital acted as Birdnest\u2019s financial advisor, while White &amp; Case served as Beltone\u2019s legal advisor. <\/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\/beltone-holding\/\">Beltone Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone-venture-capital\/\">Beltone Venture Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"620602\" 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=\"620602\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/23\/tarek-el-gamal-to-join-un-global-compact-board\/\">\r\n                            Tarek El Gamal to join UN Global Compact board                        <\/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\/23\/tarek-el-gamal-to-join-un-global-compact-board\/\" 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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El Gamal will be leveraging his experience to offer strategic guidance to the council and collaborate with key stakeholders to achieve the council\u2019s goals, the statement said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What he said: <\/strong>\u201cGreen and sustainable building are the cornerstone of contemporary construction,\u201d El Gamal said. \u201cWe are relentless in pursuing cutting-edge technologies and sustainability solutions, aligning with the UN\u2019s sustainable development goals.\u201d<\/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\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/redcon-properties\/\">Redcon Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-el-gamal\/\">Tarek El Gamal<\/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=\"620604 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=\"620604\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/23\/620604\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620604\" class=\"content-area-description single-story post-620604 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/186.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"620605\" 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=\"620605\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/23\/could-egypt-hang-its-hat-as-a-mediator-in-israel-hamas-negotiations\/\">\r\n                            Could Egypt hang its hat as a mediator in Israel-Hamas negotiations?                        <\/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\/23\/could-egypt-hang-its-hat-as-a-mediator-in-israel-hamas-negotiations\/\" 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\/23\/could-egypt-hang-its-hat-as-a-mediator-in-israel-hamas-negotiations\/')\">\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\/23\/could-egypt-hang-its-hat-as-a-mediator-in-israel-hamas-negotiations\/\">\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=Could Egypt hang its hat as a mediator in Israel-Hamas negotiations?&url=https:\/\/enterpriseam.com\/egypt\/2024\/05\/23\/could-egypt-hang-its-hat-as-a-mediator-in-israel-hamas-negotiations\/\">\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\/23\/could-egypt-hang-its-hat-as-a-mediator-in-israel-hamas-negotiations\/&title=Could Egypt hang its hat as a mediator in Israel-Hamas negotiations?\">\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=Could+Egypt+hang+its+hat+as+a+mediator+in+Israel-Hamas+negotiations%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F05%2F23%2Fcould-egypt-hang-its-hat-as-a-mediator-in-israel-hamas-negotiations%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\/23\/could-egypt-hang-its-hat-as-a-mediator-in-israel-hamas-negotiations\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1892.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"620606\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/23\/could-egypt-hang-its-hat-as-a-mediator-in-israel-hamas-negotiations\/1892-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1892.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1892.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1892.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1892.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620605\" class=\"content-area-description single-story post-620605 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-last-nights-talk-shows tag-middle-east-politics 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\/.f506b8b3-939e-4dfd-8b6f-f9bf215c12e2.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>It was a politics-heavy night on the airwaves last night<\/strong>, as the nation\u2019s talking heads focused on Egyptian-Israeli relations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Could Egypt hang its hat as a mediator?<\/strong> \u201cContinuous attempts to undermine Egypt\u2019s role as a mediator [in the negotiations between Israel and Hamas] with misinformation will only lead to further complicating the situation in Gaza and the entire region. It may even push Egypt to completely withdraw its mediation role,\u201d State Information Service head Diaa Rashwan said in a <a target=\"_blank\" href=\"https:\/\/www.sis.gov.eg\/Story\/274287\/%D9%87%D9%8A%D8%A6%D8%A9-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%B9%D9%84%D8%A7%D9%85%D8%A7%D8%AA-%D9%85%D8%B5%D8%B1-%D8%AA%D9%86%D9%81%D9%8A-%D8%A7%D8%AF%D8%B9%D8%A7%D8%A1%D8%A7%D8%AA-CNN-%D9%88%D8%AA%D9%86%D8%B0%D8%B1-%D8%A8%D8%A7%D9%86%D8%B3%D8%AD%D8%A7%D8%A8%D9%87%D8%A7-%D8%A7%D9%84%D9%83%D8%A7%D9%85%D9%84-%D9%85%D9%86-%D8%AC%D9%87%D9%88%D8%AF-%D8%A7%D9%84%D9%88%D8%B3%D8%A7%D8%B7%D8%A9?lang=ar\" style=\"\" rel=\"noopener\">statement<\/a>. His comments came in response to a CNN report that claimed Egyptian mediators changed the terms of a ceasefire proposal and hurt negotiation efforts. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That being said, Egypt will never abandon the Palestinian cause<\/strong>, Rashwan told Sherif Amer\u2019s Yahduth fi Masr (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=-wnphaB0fYw\" style=\"\" rel=\"noopener\">watch, runtime: 9:25<\/a>). Rashwan\u2019s comments also caught the attention of <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egypt-says-it-may-withdraw-gaza-ceasefire-mediator-2024-05-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Norway, Ireland and Spain officially recognize the State of Palestine: <\/strong>The three nations officially announced their recognition of the State of Palestine during press conferences held simultaneously in each of their capitals. The decision is scheduled to take effect on 28 May. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One for the history books:<\/strong> Irish Prime Minister Simon Harris said that this day is \u201chistoric and important for Ireland and Palestine,\u201d adding \u201cwe are confident that more countries will join us in this step,\u201d according to <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/arab-and-world\/2024\/05\/22\/%D9%85%D8%B5%D8%AF%D8%B1-%D9%85%D8%B7%D9%84%D8%B9-%D8%A7%D9%84%D8%AD%D9%83%D9%88%D9%85%D8%A9-%D8%A7%D9%84%D8%A3%D9%8A%D8%B1%D9%84%D9%86%D8%AF%D9%8A%D8%A9-%D8%B3%D8%AA%D8%B9%D9%84%D9%86-%D8%A7%D9%84%D9%8A%D9%88%D9%85-%D8%A7%D8%B9%D8%AA%D8%B1%D8%A7%D9%81%D9%87%D8%A7-%D8%A8%D8%AF%D9%88%D9%84%D8%A9-%D9%81%D9%84%D8%B3%D8%B7%D9%8A%D9%86%D9%8A%D8%A9\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. Al Hayah Al Youm had coverage (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=6izpeHJDOnA\" style=\"\" rel=\"noopener\">watch, runtime: 31:49<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/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=\"620607\" class=\"issue-section \">\n<div 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   <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\/23\/agthia-wants-to-boost-its-exports-out-of-egypt-plus-news-from-te-vodafone-huawei\/\">\r\n                            Agthia wants to boost its exports out of 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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Exports from Egypt hit AED 24 mn in the first quarter of the year, Elfaham said, adding that the local market \u201crepresents about 18-19% of the company\u2019s business volumes.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Tap or click the headline above to read this story<\/strong> with all of the links to our background and outside sources.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale:<\/strong> The firm \u2014 which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/116a2c54-e0f8-48c8-8ab7-dcd66b0aeffe\/b-investments-granted-more-time-to-submit-mto-for-ofh.-plus:%253cmark%253e-agthia%253c%2Fmark%253e-ups-stake-in-abu-auf,-basata-acquires-jordanian-fintech-stake\" style=\"\" rel=\"noopener\">also owns<\/a> 70% in Abu Auf\u2019s parent company and 75% of the parent company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/248e5d41-7c58-42ed-abe9-f67d9ac74995\/aldar,-adq-launch-bid-for-sodic\" style=\"\" rel=\"noopener\">behind<\/a> frozen meat brand Atyab \u2014 wants to leverage Egypt\u2019s \u201clow production costs, strategic location, and strong commercial relationships,\u201d Elfaham said. Agthia is looking to make Egypt a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bd4e09bb-a831-4dcf-b149-0ac5d4932182\" style=\"\" rel=\"noopener\">regional export hub<\/a> by <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fea2ccb8-fe2b-4566-bb06-4571c6ec3548\/\" style=\"\" rel=\"noopener\">setting up an export facility<\/a> here to serve markets in the Gulf and North Africa.<\/p><p class=\"tag-border-left\">AVIATION-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US Transportation Security <\/strong><strong>Administration (TSA) will help set up a regional center for security training in Egypt<\/strong>, the Civil Aviation Ministry said in a <a target=\"_blank\" href=\"https:\/\/www.civilaviation.gov.eg\/Media\/NewsDetails?NewsID=294&amp;title=%D9%88%D8%B2%D9%8A%D8%B1%20%D8%A7%D9%84%D8%B7%D9%8A%D8%B1%D8%A7%D9%86%20%D8%A7%D9%84%D9%85%D8%AF%D9%86%D9%89%20%D9%8A%D9%84%D8%AA%D9%82%D9%8A%20%D9%88%D9%81%D8%AF%20%D8%A5%D8%AF%D8%A7%D8%B1%D8%A9%20%D8%A3%D9%85%D9%86%20%D8%A7%D9%84%D9%86%D9%82%D9%84%20%D8%A7%D9%84%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D9%8A%D8%A9(TSA)%20%D8%A8%D8%A7%D9%84%D8%B9%D8%A7%D8%B5%D9%85%D8%A9%20%D8%A7%D9%84%D8%A5%D8%AF%D8%A7%D8%B1%D9%8A%D8%A9%20%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9\" style=\"\" rel=\"noopener\">statement<\/a>, after a TSA delegation met with ministry officials. The US side will provide the center with the latest equipment at no cost. The US side will also provide \u201call means of support and expertise\u201d necessary for the redesign of Cairo International Airport, terminal 3.<\/p><p class=\"tag-border-left\">TELECOMS- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Vodacom and Orange want to support Africa\u2019s mobile network:<\/strong> Africa\u2019s largest mobile operator Vodacom is in talks to set up a strategic partnership with Orange France that would involve infrastructure agreements in Africa, building connectivity in rural areas, and cutting costs in the continent, reported <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/63962\/%D9%85%D8%AD%D8%A7%D8%AF%D8%AB%D8%A7%D8%AA-%D8%A8%D9%8A%D9%86-%D9%81%D9%88%D8%AF%D8%A7%D9%83%D9%88%D9%85-%D9%88%D8%A3%D9%88%D8%B1%D8%A7%D9%86%D8%AC-%D8%A8%D8%B4%D8%A3%D9%86-%D8%B4%D8%B1%D8%A7%D9%83%D8%A9-%D8%A7%D8%B3%D8%AA%D8%B1%D8%A7%D8%AA%D9%8A%D8%AC%D9%8A%D8%A9-%D9%81%D9%8A-%D8%A3%D9%81%D8%B1%D9%8A%D9%82%D9%8A%D8%A7\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>, citing unnamed sources it said are familiar with the negotiations. The two telecoms players are eyeing agreements in Egypt as well as the Democratic Republic of Congo. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Huawei launches region\u2019s first ever public cloud in Egypt:<\/strong> China\u2019s Huawei Cloud in cooperation with Telecom Egypt has launched a public cloud services platform in Egypt, the first in the country and North Africa, Telecom Egypt said in a <a target=\"_blank\" href=\"https:\/\/ir.te.eg\/en\/CorporateNews\/PressRelease\/198\/Telecom-Egypt-Partners-with-Huawei-Cloud-to-Host-Huawei-s-First-Public-Cloud-in-Egypt-and-Northern-Africa\" style=\"\" rel=\"noopener\">statement<\/a> on Tuesday.<\/p><p class=\"tag-border-left\">DEBT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Telecom Egypt has secured a USD 200 mn loan from Banque Misr UAE <\/strong>to refinance its existing short-term facilities, TE said in a <a target=\"_blank\" href=\"https:\/\/ir.te.eg\/en\/CorporateNews\/PressRelease\/199\/Telecom-Egypt-to-refinance-short-term-facilities-with-new-USD-200m-medium-term-loan-facility-from-Banque-Misr-UAE\" style=\"\" rel=\"noopener\">statement<\/a>. The two parties agreed that the loan will be repaid within five years from TE\u2019s FX revenues. TE is currently undertaking a refinancing strategy to reduce borrowing costs, assure liquidity and increase its financial flexibility, the statement notes.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agthia\/\">Agthia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"620611\">\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\/23\/emerging-markets-credit-ratings-are-on-the-up-at-last\/\">\r\n                            Emerging markets\u2019 credit ratings are on the up at last                        <\/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\" 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   <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/23\/emerging-markets-credit-ratings-are-on-the-up-at-last\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1842.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"620612\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/23\/emerging-markets-credit-ratings-are-on-the-up-at-last\/1842-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1842.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1842.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1842.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1842.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620611\" class=\"content-area-description single-story post-620611 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-emerging-markets tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.c82b14a0-a3ea-434b-b7c2-5e7ed1828375.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Sovereign credit ratings in the emerging markets are back on the up<\/strong> on the bank of hoped-for rate cuts, post-Covid recovery, and policy moves in select markets, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/emerging-market-credit-ratings-are-finally-looking-up-again-2024-05-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. The newswire points to Turkey, Brazil, Nigeria, Zambia and also us here in Egypt as adding to the growing evidence that there\u2019s a turnaround in ratings after decades of downgrades.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Economies are in a very different place than they were during the pandemic: <\/strong>Three-quarters of sovereign credit rating movements in 2024 have been in a positive direction, while almost all were negative when we were all working from home during the pandemic, according to data from the Bank of America cited by Reuters.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The why: <\/strong>It varies by economy, Fitch Ratings\u2019 Ed Parker told the newswire. Some economies have benefited from a recovery following the pandemic and energy price spikes from Russia\u2019s invasion of Ukraine, while others have had a change of fortunes on the back of policy improvements, and frontier economies are reaping the rewards of their new-found access to debt markets, he added.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Egypt has had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8b7ded3a-e188-4a20-a95c-54d7ae389ddc\" style=\"\" rel=\"noopener\">Moody\u2019s<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/70ab4109-b896-4fb8-9620-7d7ca7246084\/fitch-upgrades-egypt%25e2%2580%2599s-sovereign%253cmark%253e-credit%253c%2Fmark%253e-rating-outlook-to-positive\" style=\"\" rel=\"noopener\">Fitch Ratings<\/a>, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5246f884-5ccd-4d4c-b396-7f100a7217d8\/s&amp;p-upgrades-egypt%25e2%2580%2599s%253cmark%253e-credit%253c%2Fmark%253e-outlook-to-positive\" style=\"\" rel=\"noopener\">S&amp;P Global Ratings<\/a> upgrade its sovereign credit outlook to positive since March 2024 \u2014 though none of the \u201cbig three\u201d have upgraded Egypt\u2019s credit rating itself.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good news for sure, but EMs still have a long way to go: <\/strong>Ratings upgrades and better access to debt markets are obviously a positive sign, especially after a long period of high interest rates and a strong USD. But getting too excited about the ratings upgrades risks ignoring long-term trends in developing countries\u2019 debt markets.<\/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>Major Asian benchmarks slumped into the red this morning after the minutes of the US <\/strong><strong>Fed\u2019s latest meeting were released. <\/strong>Traders and bankers alike are concerned that the central bank is getting <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/23\/asia-markets.html\" style=\"\" rel=\"noopener\">\u201ccold feet on possible rate cuts\u201d<\/a> after data showed inflation was surprisingly stubborn. Of the big Asian indexes, only the Nikkei is in positive territory this morning. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong> Nasdaq and S&amp;P futures were up overnight after Nvidia reported record earnings \u2014 but futures have the Dow headed for a lower open at the start of trading today. European futures declined overnight. <\/p><p><a target=\"_blank\" id=\"t.4a95e0b095e281a0cdafed8db140dca411f1ca45\" 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-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>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\">27,227<\/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: +9.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 46.74<\/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\">Sell 46.88<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 46.74<\/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\">Sell 46.84<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,157<\/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: +1.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,973<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: -6.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,058<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: -0.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,307<\/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: +11.3%)<\/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>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\">8,370<\/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: +9.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,025<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +11.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 81.90<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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 2.84<\/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\">+6.4%<\/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>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 2,4116<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 69,423<\/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\">-0.5% (YTD: +64.4%)<\/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 remained flat at yesterday\u2019s close<\/strong> on turnover of EGP 4.0 bn (17.3% below the 90-day average). International investors were net sellers. 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>Edita (+7.0%), Orascom Development Egypt (+6.5%), and Heliopolis Housing (+4.2%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Abu Qir Fertilizers (-2.9%), Mopco (-2.3%), and AMOC (-2.2%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"620613\" 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=\"620613\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/23\/shoukry-heads-to-iran-to-attend-raisis-funeral\/\">\r\n                            Shoukry heads to Iran to attend Raisi\u2019s funeral                        <\/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\/23\/shoukry-heads-to-iran-to-attend-raisis-funeral\/\" 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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This marks the first visit by an Egyptian foreign minister to Iran since 1979.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Egypt and Iran have been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/06e7e381-df4d-4d89-94c7-428dba34d5a3\" style=\"\" rel=\"noopener\">in talks<\/a> for some time now about normalizing ties and reopening embassies, as part of a wider Iranian diplomatic push to mend relations with the Arab world. Raisi <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad68fc23-5738-4674-9dc1-4a506e1c89b4\" style=\"\" rel=\"noopener\">called<\/a> President Abdel Fattah El Sisi to congratulate him on a third term in office in December. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-iran-relations\/\">Egypt-Iran relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/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=\"620615\" 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=\"620615\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/23\/my-morning-routine-hala-riad-lawyer-entrepreneur-and-co-founder-of-hekouky\/\">\r\n                            My Morning Routine: Hala Riad, lawyer, entrepreneur and co-founder of Hekouky                        <\/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\/23\/my-morning-routine-hala-riad-lawyer-entrepreneur-and-co-founder-of-hekouky\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Speaking to us this week is Hala Riad (<a target=\"_blank\" href=\"https:\/\/eg.linkedin.com\/in\/halatarekriad\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), lawyer, entrepreneur, and co-founder of Hekouky.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My name is Hala Riad, lawyer, entrepreneur and co-founder of Hekouky. <\/strong>I\u2019m an avid tech and investment enthusiast with a particular interest in legal tech. On top of that, I\u2019m a lawyer at Tarek Riad & Partners, my family\u2019s law firm that was formerly known as Kosheri, Rashed & Riad Law Firm, and I will soon be a postgraduate student at Columbia and a future startup-friendly investor, slash investment manager.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A startup wasn\u2019t always on the cards:<\/strong> When I was younger, I really wanted to work in something that provides access to justice to those in need. When we \u2014 my co-founders Mayy, Fatma, and I \u2014 started <a target=\"_blank\" href=\"https:\/\/hekouky.com\/en\" style=\"\" rel=\"noopener\">Hekouky<\/a>, we were sharing posts online to help individuals. For example, what you need to register a trademark or how to start your own company \u2014 but also what can you do if you get assaulted and who to call. After spending time analyzing where the need is, we turned Hekouky into a digital platform where companies are incorporated and entrepreneurs can facilitate their legal and tax needs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I read a book called <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/en\/book\/show\/3075321\" style=\"\" rel=\"noopener\">The End of Lawyers<\/a><\/strong><strong> by Cambridge professor Richard Susskind<\/strong>, which underlines that in the next 20 years, most \u2014 if not all \u2014 legal processes will be digitalized and we need to prepare for this. I wanted to be part of that future, so we decided to build technology that automates tax and legal processes to make things easier for young business people and entrepreneurs. Hekouky was able to incorporate companies, provide the contracts required to operate safely and the tax services needed to be in good standing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I think that if you believe in justice, you believe in legal tech.<\/strong> Accessibility increases justice and creates a world where individual rights are preserved.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On being a woman startup founder: <\/strong>Globally, women-run startups receive less than 1% of all VC funding \u2014 the percentage is even less than that in the MENA region. As a woman founder, you know that you\u2019re being underestimated \u2014 I\u2019ve walked into meetings where people have assumed that I am Hala Riad\u2019s secretary. But you can\u2019t give yourself the luxury of focusing on that, you can only be laser focused and avoid looking left or right. I try to remind myself that I carry the strength of my grandmother with me \u2014 she was the first Egyptian woman to get a PhD from Yale Law School and to become a professor at Cairo University. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The startup community is the nicest place to exist <\/strong>because everyone is in such different sectors and wants to see others succeed. Every time I see the founder of a product I love, I tell them to call me when they need legal help. It\u2019s a very open community. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hekouky received tremendous support from accelerators and mentors:<\/strong> The company was incubated by Mint by EG Bank, who we\u2019ve received ongoing support from until today. We also were part of the Google for Startups and Plug and Play accelerators. Google provided us with public policy, technological, and investment readiness support. I believe in the saying \u201cask for money, get advice, ask for advice, get money.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have now come to an agreement to wind down operations at Hekouky <\/strong>as it currently stands, a decision we came to as we didn\u2019t see a clear path to profitability. Businesses zigzag and this experience has made me a much tougher business person and helped me gain a tremendous amount of experience. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Data is the name of the game:<\/strong> We\u2019ve already seen the drive towards leveraging data to create cooler technology, for example with Elon Musk using data collected from Tesla to create self-driving cars and now he is looking to rival Chat GPT by using data collected from X. It\u2019s no longer what your company can do, it\u2019s about how the data you collect will create the products of the future.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mornings are my spiritual sanctuary: <\/strong>As soon as I wake up, I\u2019m stretching on the mat and doing my morning yoga. This is followed by five minutes of meditation, prayers, and a gratitude practice. I read EnterpriseAM over a mug of tea with milk. Tea is a must, I drink about six cups a day, probably because it reminds me of my grandmother.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My workday starts at 9am with an hour of responding to emails <\/strong>and I close my laptop at 8pm at the latest, with the final hour of the day dedicated to planning for the following day. Organization is the name of the game \u2014 I use Microsoft To Do for daily tasks, Google Calendar for scheduling and plan my quarters, months, weeks, and days down to a point \u2014 If it\u2019s not on my Google Calendar, I\u2019m not doing it.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I don\u2019t want a work-life balance, I need work that gives me excitement.<\/strong> For me, burnout is a thing that happens when I feel my efforts are not being rewarded. I don\u2019t think this means that entrepreneurs shouldn\u2019t be kind to themselves or work themselves into the ground, but I also don\u2019t believe in balance. I believe in a rich personal and professional life that looks different across stages of life.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A book I recommend is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/book\/show\/13588356-daring-greatly\" style=\"\" rel=\"noopener\">Daring Greatly<\/a><\/strong><strong> by Bren\u00e9 Brown. <\/strong>I love the Theodore Roosevelt quote she mentions, \u201cthe credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly\u2026who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly.\u201d I promised myself long ago to live my life in the arena, and to dare greatly every single day in every aspect of my life.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The best piece of advice comes from my mom<\/strong>, who never allowed me to say I couldn\u2019t do something unless I had empirical evidence to prove it. She never let me feel less than capable of doing something.<\/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\/hala-riad\/\">Hala Riad<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"620617\" 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\/23\/620617\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620617\" class=\"content-area-description single-story post-620617 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;\">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>26 May (Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/coe.engineering.asu.edu\/\" style=\"\">Center of Excellence for Energy<\/a><\/span><span style=\"font-weight:400;\">\u2019s stakeholder\u2019s meeting on Egypt\u2019s energy transition, Cairo Marriott Hotel, Zamalek.<\/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:400;\">29-31 May (Wednesday-Friday): The second edition of GITEX AFRICA Morocco 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;\">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\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>More M&#038;As | Lots of hospitals | Birdnest closes round | Shoukry in Iran | Bids for Wataniya.<\/p>\n","protected":false},"featured_media":620590,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-620589","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"a5305b06-9ebd-4090-9a7b-11cb5ca29016","teaser":"More M&As | Lots of hospitals | Birdnest closes round | Shoukry in Iran | Bids for Wataniya.","photo_url":"https:\/\/ent.news\/2024\/5\/1887.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>The third tranche of our IMF loan program is imminent \u2014 an IMF delegation is in town - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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