{"id":620867,"date":"2024-05-28T00:00:00","date_gmt":"2024-05-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=620867"},"modified":"2025-12-17T06:03:53","modified_gmt":"2025-12-17T06:03:53","slug":"madbouly-hints-at-upcoming-bread-fuel-electricity-price-hikes","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/madbouly-hints-at-upcoming-bread-fuel-electricity-price-hikes\/","title":{"rendered":"Madbouly hints at upcoming bread, fuel, electricity price hikes"},"content":{"rendered":"<section id=\"620869\" 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=\"620869\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">What We're Tracking Today<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/egypt-wants-to-start-clearing-a-quarter-of-its-arrears-next-week\/\">\r\n                            Egypt wants to start clearing a quarter of its arrears next week                        <\/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\/28\/egypt-wants-to-start-clearing-a-quarter-of-its-arrears-next-week\/\" target=\"_blank\">\n                  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hentry category-what-were-tracking-today tag-enterpriseam tag-moustafa-madbouly wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.19a7230b-4a6d-44fd-8f14-083fa822d068.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>The news flow this morning is dominated by comments from Prime Minister Moustafa Madbouly that hinted at upcoming price hikes to subsidized bread, fuel, and electricity. <\/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>Ministries to start clearing a quarter of our arrears next week: <\/strong>The Madbouly cabinet will begin paying back 20-25% of arrears owed to foreign partners next week, Prime Minister Moustafa Madbouly <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02T5AAxqUouq1AR9TrpBgJm7FiZ9kjmxwXpiHuFSVfk9d6hiF71GeNBMdoTEpC1tzal\" style=\"\" rel=\"noopener\">said yesterday<\/a>. The payments will be made provided that the government and international partners agree on a payment schedule over a specific period of time, Madbouly added. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The central bank is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c35bda94-dc9e-49b1-98ae-628b25d2d05f\/fx-to-be-made-available-to-all-importers-starting-may-following-planned-central-bank-liquidity-injection\" style=\"\" rel=\"noopener\">expected to pour USD 6 bn<\/a> of the Ras El Hekma proceeds into the banking sector, providing sufficient hard cash in the system for banks to help clear arrears and start opening up their FX allocations outside of those importing essential goods.<\/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>#1- Israel-Hamas negotiations resume in Cairo: <\/strong>We\u2019re due to host a fresh round of ceasefire and hostage swap negotiations today, <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/middleeast\/live-news\/israel-hamas-war-gaza-news-05-26-24#h_be67fff0755ea4c2619ceafcaa788a8d\" style=\"\" rel=\"noopener\">CNN<\/a> and <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/mediated-israel-hamas-talks-hostage-deal-expected-next-week-source-says-2024-05-25\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported, citing anonymous sources. Egyptian and Qatari officials will mediate the talks, with participation from the US.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- A new wind farm inaugurated: <\/strong>The Electricity Ministry will inaugurate a 252-MW wind farm in the Gulf of Suez, which is set to power some 1.08 mn residential units and reduce 2.4 mn tons of CO2, local media <a target=\"_blank\" href=\"https:\/\/www.elbalad.news\/6215269\" style=\"\" rel=\"noopener\">reports<\/a>.\u00a0<\/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- It\u2019s day two of the Avior-HC Egypt virtual confe<\/strong><strong>rence<\/strong>, which aims to connect 25 EGX-listed companies with financial institutions from the US, Canada, Europe, South Africa, and Egypt, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2092.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The four-day event will run until Thursday.<\/p><p class=\"tag-border-left\">HAPPENING TOMORROW- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The two-day <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.terrapinn.com\/exhibition\/solar-show-mena\/index.stm\" style=\"\" rel=\"noopener\">Solar &amp; Storage Live MENA<\/a><\/strong><strong> conference will kick off in Cairo tomorrow<\/strong>, and bring together those working in utilities and independent power producers with financiers, government bodies, regulators, distributors, contractors, and more to shape the future of the region\u2019s energy sector. Register for the event <a target=\"_blank\" href=\"https:\/\/secure.terrapinn.com\/V5\/step1.aspx?E=10774\" style=\"\" rel=\"noopener\">here<\/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>#2- Day one of GITEX Africa 2024: <\/strong>The second edition of the tech summit <a target=\"_blank\" href=\"https:\/\/gitexafrica.com\/\" style=\"\" rel=\"noopener\">GITEX Africa<\/a> will kick off tomorrow in Morocco, bringing together over startups, entrepreneurs, and government officials, tech leaders, and industry experts from 130 countries. Check out the full agenda <a target=\"_blank\" href=\"https:\/\/www.gitexafrica.com\/conference-agenda\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p class=\"tag-border-left\">HAPPENING THIS WEEK- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>El Sisi will be in China:<\/strong> President Abdel Fattah El Sisi \u2014 along with his Emirati, Tusniain, and Bahraini counterparts \u2014 will head to China this week to attend the China-Arab forum, according to a <a target=\"_blank\" href=\"https:\/\/www.mfa.gov.cn\/eng\/wjdt_665385\/wsrc_665395\/202405\/t20240527_11311823.html\" style=\"\" rel=\"noopener\">statement<\/a> from China\u2019s foreign ministry spokesperson.<\/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- It\u2019s getting cooler in Cairo today<\/strong>, with a high of 32\u00b0C and a low of 21\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 even cooler in Alexandria<\/strong>, with a high of 26\u00b0C and a low of 19\u00b0C.<\/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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Want to subscribe?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p class=\"tag-border-left\">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: Israel\u2019s deadly strike in Rafah<\/strong> and Israeli troops exchanging fire with Egyptian forces at the Rafah crossing. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s been a global outcry after Israel killed at least 45 people in a Rafah tent camp.<\/strong> Even its closest allies in the US have piled on, though two US officials told <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2024\/05\/27\/rafah-tent-camp-strike-biden-israel-red-line\" style=\"\" rel=\"noopener\">Axios<\/a> that the Biden administration is still deciding whether the attack crosses a red line. European Union foreign ministers have for the first time \u201cengaged in \u2018significant\u2019 discussion on sanctioning Israel if it doesn\u2019t comply with international humanitarian law,\u201d <a target=\"_blank\" href=\"https:\/\/www.politico.eu\/article\/eu-foreign-ministers-sanctions-against-israel-micheal-martin\/\" style=\"\" rel=\"noopener\">Politico<\/a> reports, citing remarks by Irish Foreign Minister Miche\u00e1l Martin. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PRESENTED WITHOUT COMMENT- A \u201ctragic mistake,\u201d says Netanyahu:<\/strong> Addressing the Israeli Parliament yesterday, Prime Minister Benjamin Netanyahu said that the deaths were due to a \u201ctechnical failure\u201d and came despite Israel\u2019s \u201cimmense efforts to avoid harming the non-involved\u201d (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=-ofsZVm3F9s\" style=\"\" rel=\"noopener\">watch, runtime: 0:45<\/a>). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The news is everywhere this morning:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/egyptian-guard-killed-shooting-rafah-border-israel-egypt-investigating-2024-05-27\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/cc2b8b0f-b6c1-42a5-9f90-26764887bbc4\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/05\/27\/world\/middleeast\/egypt-shooting-border-crossing-rafah.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"http:\/\/timesofisrael.com\/egyptian-soldier-killed-in-clash-with-israeli-troops-at-rafah-crossing\/\" style=\"\" rel=\"noopener\">Times of<\/a><a target=\"_blank\" href=\"http:\/\/timesofisrael.com\/egyptian-soldier-killed-in-clash-with-israeli-troops-at-rafah-crossing\/\" style=\"\" rel=\"noopener\">Israel<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-palestinians-hamas-war-news-05-27-2024-7b743a848ef8bfbe69a9659a4a5dd047\" style=\"\" rel=\"noopener\">Associated Press<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt4\"><\/a> <strong>AND- An Egyptian officer was shot dead <\/strong>during an exchange of fire between Israeli and Egyptian forces yesterday. The Egyptian Armed Forces are <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyArmySpox\/posts\/pfbid02Rribct35GtAi6AAvFHSVTuuyDLdWB6uDkVkDsgQxne6Xni8Guw5aYKgjZSMQhPASl\" style=\"\" rel=\"noopener\">investigating<\/a>, a military spokesman said. The two sides are in talks to de-escalate, according to a statement from the Israeli side picked up by the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/cc2b8b0f-b6c1-42a5-9f90-26764887bbc4\" style=\"\" rel=\"noopener\">Financial Times<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expect Egypt to remain firmly engaged as a mediator <\/strong>as diplomats resume shuttle diplomacy this week on a potential ceasefire in Gaza. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- It\u2019s crickets in the global business press this morning.<\/strong> Both US and UK markets were closed yesterday for national holidays. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2021\/03\/INFINITY-Top-banner-EN-1600x675-v2-02.png\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We look at why eco-industrial parks may not just be cleaner and greener, but also more profitable too.<\/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\/moustafa-madbouly\/\">Moustafa Madbouly<\/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=\"620871 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=\"620871\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/620871\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620871\" class=\"content-area-description single-story post-620871 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><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 <\/span><span>El Adha<\/span><span> 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=\"620872\" 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=\"620872\">\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\">Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/madbouly-hints-at-pricier-bread-fuel-electricity\/\">\r\n                            Egypt\u2019s Madbouly hints at pricier bread, fuel, electricity                        <\/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\/28\/madbouly-hints-at-pricier-bread-fuel-electricity\/\" 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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He explained that the government will continue to subsidize bread.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The government allocated some EGP 134.2 bn to food commodities for the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3fd60d61-8953-483c-a09b-8bce0f612e9e\/egypt%25e2%2580%2599s-fy-2024-2025-draft%253cmark%253e-budget%253c%2Fmark%253e-delivered-to-the-house\" style=\"\" rel=\"noopener\">2024-2025 fiscal year<\/a>, EGP 125 bn of which will go towards bread subsidies, Finance Minister Mohamed Maait previously <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/64234\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B3%D8%B9%D9%89-%D9%84%D8%AA%D9%82%D9%84%D9%8A%D8%B5-%D8%A7%D9%84%D9%81%D8%AC%D9%88%D8%A9-%D8%A8%D9%8A%D9%86-%D8%B3%D8%B9%D8%B1-%D8%B1%D8%BA%D9%8A%D9%81-%D8%A7%D9%84%D8%AE%D8%A8%D8%B2-%D8%A7%D9%84%D9%85%D8%AF%D8%B9%D9%88%D9%85-%D9%88%D9%83%D9%84%D9%81%D8%AA%D9%87-%D8%A7%D9%84%D8%B1%D9%87%D9%8A%D8%A8%D8%A9\/\" style=\"\" rel=\"noopener\">said<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bread subsidy reforms have been shelved for so many years<\/strong> and last we heard of them was in 2022, when Supply Minister Ali El Moselhy <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fdba61a4-ba13-4035-a2a7-51511a9b61a0\/is%253cmark%253e-bread%253c%2Fmark%253e-subsidy-reform-back-on-the-table%3F\" style=\"\" rel=\"noopener\">called on MPs<\/a> to form an ad hoc committee to look into possible changes to the country\u2019s massive bread subsidy program. The government did not raise prices over the past period so as not to \u201cincrease the burden on citizens,\u201d who were already suffering from soaring inflation, Madbouly said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A little reassurance: <\/strong>\u201cThere may be a slight movement in the price of subsidized bread in the coming period that will not affect the citizen but will help the government to reduce the burden on the fiscal budget,\u201d cabinet spokesman Mohamed El Homsani told Ala Masouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=D8RLyGpRnV8\" style=\"\" rel=\"noopener\">watch, runtime: 21:05<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong>beginning<\/strong><strong> of more subsidy cuts: <\/strong>Subsidies for some commodities will be lifted completely, El Homsani added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s about time, says Maait: <\/strong>The state has not touched subsidies over the past four years due to the country\u2019s economic conditions but they have \u201cbecome a threat to the financial and economic security,\u201d Finance Minister Mohamed Maait told Hadret Al Mowaten (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1409398097125823\" style=\"\" rel=\"noopener\">watch, runtime: 33:53<\/a>). <\/p>\n<p class=\"tag-border-left\">FUEL PRICE HIKES- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More fuel price hikes ahead? <\/strong>Madbouly signaled that we could see more fuel price hikes as the state looks to \u201crestore balance\u201d between cost of production and end price by the end of 2025. This will happen \u201cgradually\u201d and will not include diesel. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cSubsidizing fuel is against the state\u2019s interests<\/strong>,\u201d Maait said, noting that lifting fuel subsidies will allow the state to re-allocate these funds towards health, education and social protection.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The government\u2019s fuel pricing committee hiked petrol prices by 8-10% in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/be2302e1-e1a7-4413-95b2-887642444241\/egypt-hikes-car%253cmark%253e-fuel%253c%2Fmark%253e-prices-by-by-8-21%2525\" style=\"\" rel=\"noopener\">March<\/a> and diesel prices by 21.2%. The government has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3fd60d61-8953-483c-a09b-8bce0f612e9e\/egypt%25e2%2580%2599s-fy-2024-2025-draft-budget-delivered-to-the-house\" style=\"\" rel=\"noopener\">increased fuel subsidies<\/a> allocations in FY 2024-2025 to EGP 154.5 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fast-tracking our green transition: <\/strong>Egypt\u2019s green transition has been stymied in recent years due to the high production cost and unavailability of FX needed, Madbouly said. Now with the float of the EGP and availability of hard currency, green projects that have been signed will have two to three to become operational, he continued. <\/p>\n<p class=\"tag-border-left\">NO POWER CUTS BY YEAR END- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Less spending on electricity subsidies ahead: <\/strong>Electricity Minister Mohamed Shaker will prepare a plan as to how the government can completely cut its spending on electricity subsidies over the coming four years, Madbouly said. Households with light consumption will continue to see their electricity bill heavily subsidized but the government will be able to cover the cost through other outlets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Electricity Ministry rang in the new year with <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6468a17b-84c3-4eff-be44-5ad1a59c8a21\/electricity-ministry-hikes%253cmark%253e-electricity-prices%253c%2Fmark%253e-by-up-to-26%2525\" style=\"\" rel=\"noopener\">price hikes<\/a><\/strong>, which saw electricity prices rise by 16-26%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>The Madbouly government in 2020 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/78b3ac0c-8571-47a4-802c-abf1b65a5044\" style=\"\" rel=\"noopener\">laid out<\/a> a roadmap to phase out subsidies by 2025 \u2014 pushing back an existing July 2022 deadline that was already an extension of a 2019 deadline penciled in way back in 2014.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The end of power cuts? <\/strong>Madbouly said <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=yRqiX3FGvA8\" style=\"\" rel=\"noopener\">(watch, runtime: 1:18)<\/a> he directed the electricity and oil ministers to present scenarios as to how the government can keep the light on 24\/7 with the end of daylight saving time, by November or December the latest. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n      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WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/pif-in-talks-to-get-a-piece-of-local-agriculture-firm-daltex\/\">\r\n                            Saudi PIF in talks to get a piece of Egypt\u2019s agriculture firm Daltex                        <\/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\/28\/pif-in-talks-to-get-a-piece-of-local-agriculture-firm-daltex\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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wp-post-image\" alt=\"\" data-attachment-id=\"620876\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/pif-in-talks-to-get-a-piece-of-local-agriculture-firm-daltex\/2172-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2172.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2172.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2172.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2172.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620875\" class=\"content-area-description single-story post-620875 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-agriculture tag-enterpriseam tag-ma-watch tag-public-investment-fund 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\/.b7404929-3440-4278-8baa-506919d1e74d.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>PIF is eying l<\/strong><strong>ocal agri firm Daltex:<\/strong> Saudi Arabia\u2019s Public Investment Fund (PIF), is in talks to acquire an unspecified minority stake in local agriculture firm <a target=\"_blank\" href=\"https:\/\/www.daltexcorp.com\/?fbclid=IwZXh0bgNhZW0CMTAAAR1NtcTEpoAxLG9K-MKJF6u0NR7gURBXS7PgqyGwdU4kFN61fyahWnvyciQ_aem_ATzGXM4Ah_B49549gt2kuiGOyucRms-14q1gKnTw-bU8SMY9bfmywfA6n7UrUff0bQUOxEaM6UFoZO7ey7LBZLWi\" style=\"\" rel=\"noopener\">Daltex Corporation<\/a> through a capital increase, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a7%d9%84%d8%b5%d9%86%d8%af%d9%88%d9%82-%d8%a7%d9%84%d8%b3%d9%8a%d8%a7%d8%af%d9%89-%d8%a7%d9%84%d8%b3%d8%b9%d9%88%d8%af%d9%89-%d9%8a%d8%aa%d9%81%d8%a7%d9%88%d8%b6-%d9%84%d9%84%d8%a7%d8%b3%d8%aa\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports, citing unnamed sources. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Still early stages: <\/strong>The talks are still in the early stages, and both sides are yet to reach an agreement or sign a contract, the sources added. If the acquisition goes through, Daltex will use the funds from the transaction to fund the company\u2019s expansions, and finance its exports of production requirements.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Daltex? <\/strong>The agriculture player has been operating in the Egyptian market since 1964 and has established itself as a \u201c <a target=\"_blank\" href=\"https:\/\/www.daltexcorp.com\/?fbclid=IwZXh0bgNhZW0CMTAAAR1NtcTEpoAxLG9K-MKJF6u0NR7gURBXS7PgqyGwdU4kFN61fyahWnvyciQ_aem_ATzGXM4Ah_B49549gt2kuiGOyucRms-14q1gKnTw-bU8SMY9bfmywfA6n7UrUff0bQUOxEaM6UFoZO7ey7LBZLWi\" style=\"\" rel=\"noopener\">leading exporter of Egyptian potatoes<\/a> and a fully-integrated player operating across all aspects of the agricultural value chain.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> EFG Hermes is reportedly financial advisors to Daltex, while Matouk Bassiouny and Adsero Ragy Soliman & Partners are counsel. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lots of demand from PIF: <\/strong>The fund\u2019s wholly owned subsidiary the Saudi Egyptian Investment Company earlier this month <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a82c702-10eb-4631-b5ba-77ad9f1a1781\/\" style=\"\" rel=\"noopener\">submitted an offer<\/a> to acquire up to 100% of EGX-listed CIRA Education, alongside CIRA majority shareholder. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture\/\">agriculture<\/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\/public-investment-fund\/\">Public Investment Fund<\/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=\"620877 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=\"620877\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/620877\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620877\" class=\"content-area-description single-story post-620877 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.global\/en\/locations\/Egypt\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/674.png?ssl=1\"><\/a><\/span><\/p>\n\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=\"620878\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n     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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2211.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"620879\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/a-lot-of-acquisitions-in-the-pharma-med-sphere\/2211-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2211.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2211.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2211.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2211.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620878\" class=\"content-area-description single-story post-620878 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-cleopatra-hospitals-group tag-enterpriseam tag-goldman-sachs tag-healthcare tag-ma-watch tag-minapharm 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\/.35d72f7e-96bb-4389-b418-1255389ae94b.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Acquisitions left and right. <\/strong>The acquisition spree is dragging on, with a fresh batch announced yesterday, a lot of which had to do with the pharma and med sphere. <\/p>\n<p class=\"tag-border-left\">TRIQUERA ACQUIRES ANOTHER 22% OF MINAPHARM- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Triquera now owns 50% of Minapharm: <\/strong>Triquera acquired an additional 22.18% \u2014 represented in 6.4 mn shares \u2014 in local drugmaker <a target=\"_blank\" href=\"https:\/\/www.minapharm.com\/\" style=\"\" rel=\"noopener\">Minapharm<\/a> in an EGP 1.3 bn a block trade transaction, Amwal Al Ghad quotes sources it says are familiar with the matter, adding more color to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2194.jpg\" style=\"\" rel=\"noopener\">EGX bulletin<\/a>. The transaction pushed Triquera\u2019s stake in the company to 50% from 27.82%. <\/p>\n<p class=\"tag-border-left\">CITY LAB HAS A NEW SHAREHOLDER- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Premium Diagnostics UAE acquires minority stake in City Lab:<\/strong> <a target=\"_blank\" href=\"https:\/\/premium-dx.com\/\" style=\"\" rel=\"noopener\">Premium<\/a><a target=\"_blank\" href=\"https:\/\/premium-dx.com\/\" style=\"\" rel=\"noopener\">Diagnostics UAE<\/a> has acquired a 9.38% stake in local medical diagnostic services provider <a target=\"_blank\" href=\"https:\/\/citylabegypt.com\/\" style=\"\" rel=\"noopener\">City Lab<\/a> in an EGP 60 mn transaction, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2186.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a> yesterday. The Emirati arm of Premium Diagnostics purchased some 60 mn shares at EGP 1 apiece.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We were expecting a bigger sale: <\/strong>City Lab\u2019s extraordinary general assembly earlier this month <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bba4799f-1d5e-44c4-8c54-5df57be5e741\/\" style=\"\" rel=\"noopener\">approved<\/a> selling up to EGP 250 mn worth of shares to a consortium that includes Premium Diagnostics\u2019 Saudi, Emirati, US, and Egyptian arms \u2014 weeks after it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e98275df-9cf9-4e32-af7d-e7c0c58ab0e4\/\" style=\"\" rel=\"noopener\">announced<\/a> the plan. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More to come?<\/strong> It\u2019s unclear if the remaining Premium Diagnostics units, initially said to be interested in City Lab, have been dropped from the plan, or additional stake sales are in the works.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who sold? <\/strong>A number of retail investors offloaded some of their holdings in the company. This includes <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/profile\/person\/23867545\" style=\"\" rel=\"noopener\">company chairman Ali Ramadan<\/a>, who sold a 3.04% stake, reducing his ownership in the company to 15.65%, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2197.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>Behind the sale: <\/strong>Hermes Securities Brokerage acted as broker on the transaction.<\/p>\n<p class=\"tag-border-left\">GOLDMAN UPS STAKES IN CLEOPATRA- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Goldman Sachs International has upped its stake in <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cleopatrahospitals.com\/\" style=\"\" rel=\"noopener\">Cleopatra Hospital<\/a><\/strong><strong> to 5.12% <\/strong>from 4.99%, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2190.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf<\/a>). The investment banking firm snapped up some 1.7 mn shares for EGP 10.4 mn \u2014 or EGP 6.11 apiece. CI Capital\u2019s CIBC was the broker on the transaction.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cleopatra-hospitals-group\/\">Cleopatra Hospitals Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/goldman-sachs\/\">Goldman Sachs<\/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\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/minapharm\/\">Minapharm<\/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=\"620880 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=\"620880\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/620880\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620880\" class=\"content-area-description single-story post-620880 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/186.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"620881\" 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=\"620881\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/the-details-of-the-fire-exchange-between-israeli-egyptian-forces\/\">\r\n                            The details of the fire exchange between Israeli, Egyptian forces                        <\/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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        <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2267.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"620882\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/the-details-of-the-fire-exchange-between-israeli-egyptian-forces\/2267-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2267.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2267.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2267.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2267.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620881\" class=\"content-area-description single-story post-620881 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-egypt-israel-relations tag-enterpriseam tag-last-nights-talk-shows tag-national-dialogue 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\/.3a7a70d1-b7cb-40ff-9584-76c37d3ca37c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One story captured the attention of the nation\u2019s talking heads last night: <\/strong>The exchange of fire between Israeli and Egyptian forces that left an Egyptian soldier dead. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israeli, Egyptian forces clash on the Rafah border:<\/strong> \u201cAn investigation committee has been formed to look into the details of a the incident in order to determine the responsible party and take the necessary measures to prevent its future recurrence,\u201d an informed source told <a target=\"_blank\" href=\"https:\/\/alqaheranews.net\/news\/81878\/%D9%85%D8%B5%D8%AF%D8%B1-%D8%B1%D9%81%D9%8A%D8%B9-%D8%A7%D9%84%D9%85%D8%B3%D8%AA%D9%88%D9%89-%D8%A7%D9%84%D9%82%D8%A7%D9%87%D8%B1%D8%A9-%D8%AA%D8%AD%D8%B0%D8%B1-%D9%85%D9%86-%D8%A7%D9%84%D9%85%D8%B3%D8%A7%D8%B3-%D8%A8%D8%A3%D9%85%D9%86-%D9%88%D8%B3%D9%84%D8%A7%D9%85%D8%A9-%D8%B9%D9%86%D8%A7%D8%B5%D8%B1-%D8%A7%D9%84%D8%AA%D8%A3%D9%85%D9%8A%D9%86-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D8%AD%D8%AF%D9%88%D8%AF-\" style=\"\" rel=\"noopener\">Al Qahera News<\/a> in a report picked up by Ala Masouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=ongH8r-vVwI\" style=\"\" rel=\"noopener\">watch, runtime: 3:51<\/a>). \u201cInitial investigations indicate that there was gunfire between Israeli forces and members of the Palestinian resistance,\u201d the source said, adding that \u201cinvestigations also indicate that shots were fired in several directions and that the Egyptian security personnel took protective measures to control the source of the gunfire.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Adib response<\/strong><strong>:<\/strong> \u201cIsrael must know that there is a strong force on the other side \u2026 Israeli recklessness must be faced strictly,\u201d El Hekaya\u2019s Amr Adib said (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Elhekayashow\/videos\/291795837343904\/\" style=\"\" rel=\"noopener\">watch, runtime: 2:31<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO ON THE AIRWAVES- <\/strong>The National Dialogue\u2019s board will meet on Saturday to discuss issues of national security and foreign policy, General Coordinator Diaa Rashwan told Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=Nd2fIblTOn4\" style=\"\" rel=\"noopener\">watch, runtime: 1:54<\/a>). The meeting will also address government efforts to implement the outcomes of the dialogue\u2019s first phase, Rashwan said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-israel-relations\/\">Egypt-Israel relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-dialogue\/\">national dialogue<\/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=\"620883\" 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=\"620883\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/photographer-rehab-eldalil-puts-a-sinai-bedouin-tribe-under-intl-spotlight\/\">\r\n                            Egyptian photographer Rehab Eldalil puts a Sinai Bedouin tribe under int\u2019l spotlight                        <\/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\/28\/photographer-rehab-eldalil-puts-a-sinai-bedouin-tribe-under-intl-spotlight\/\" 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\/28\/photographer-rehab-eldalil-puts-a-sinai-bedouin-tribe-under-intl-spotlight\/')\">\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\/28\/photographer-rehab-eldalil-puts-a-sinai-bedouin-tribe-under-intl-spotlight\/\">\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=Photographer Rehab Eldalil puts a Sinai Bedouin tribe under int\u2019l spotlight&url=https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/photographer-rehab-eldalil-puts-a-sinai-bedouin-tribe-under-intl-spotlight\/\">\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\/28\/photographer-rehab-eldalil-puts-a-sinai-bedouin-tribe-under-intl-spotlight\/&title=Photographer Rehab Eldalil puts a Sinai Bedouin tribe under int\u2019l spotlight\">\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=Photographer+Rehab+Eldalil+puts+a+Sinai+Bedouin+tribe+under+int%E2%80%99l+spotlight+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F05%2F28%2Fphotographer-rehab-eldalil-puts-a-sinai-bedouin-tribe-under-intl-spotlight%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\/28\/photographer-rehab-eldalil-puts-a-sinai-bedouin-tribe-under-intl-spotlight\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2167.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"620884\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/photographer-rehab-eldalil-puts-a-sinai-bedouin-tribe-under-intl-spotlight\/2167-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2167.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2167.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2167.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2167.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620883\" class=\"content-area-description single-story post-620883 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-culture tag-enterpriseam tag-photography tag-south-sinai 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\/.0924229f-25ab-4f1e-90c2-e1d880d8dd1f.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While news<\/strong> <strong>of the recent exchange of fire with Israel that killed one Egyptian soldier is <\/strong><strong>dominating mentions of Egypt in the global press<\/strong>, the <a target=\"_blank\" href=\"https:\/\/www.newyorker.com\/culture\/photo-booth\/an-egyptian-photographers-portraits-of-a-changing-sinai\" style=\"\" rel=\"noopener\">New Yorker<\/a> is out with a piece putting a spotlight on a Bedouin tribe in St. Catherine captured through the lens of Egyptian photographer <a target=\"_blank\" href=\"https:\/\/www.rehabeldalil.com\/\" style=\"\" rel=\"noopener\">Rehab Eldalil<\/a>. Eldalil\u2019s series called The Longing of the Stranger Whose Path Has Been Broken captures the tribe\u2019s deep-rooted connection to the land around St. Catherine, a relationship historically strained by colonization, occupation, and increasingly urbanization. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/culture\/\">culture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/photography\/\">photography<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/south-sinai\/\">South Sinai<\/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=\"620885\" 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=\"620885\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/egypt-to-start-manufacturing-faw-evs-in-less-than-a-year-plus-pharma-commodities-telecom-news\/\">\r\n                            Egypt to start manufacturing FAW EVs in less than a year                        <\/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\/28\/egypt-to-start-manufacturing-faw-evs-in-less-than-a-year-plus-pharma-commodities-telecom-news\/\" 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\/28\/egypt-to-start-manufacturing-faw-evs-in-less-than-a-year-plus-pharma-commodities-telecom-news\/')\">\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\/28\/egypt-to-start-manufacturing-faw-evs-in-less-than-a-year-plus-pharma-commodities-telecom-news\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt to start manufacturing FAW EVs in less than a year. PLUS: Pharma, commodities, telecom news&url=https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/egypt-to-start-manufacturing-faw-evs-in-less-than-a-year-plus-pharma-commodities-telecom-news\/\">\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\/28\/egypt-to-start-manufacturing-faw-evs-in-less-than-a-year-plus-pharma-commodities-telecom-news\/&title=Egypt to start manufacturing FAW EVs in less than a year. PLUS: Pharma, commodities, telecom news\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+to+start+manufacturing+FAW+EVs+in+less+than+a+year.+PLUS%3A+Pharma%2C+commodities%2C+telecom+news+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F05%2F28%2Fegypt-to-start-manufacturing-faw-evs-in-less-than-a-year-plus-pharma-commodities-telecom-news%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\/28\/egypt-to-start-manufacturing-faw-evs-in-less-than-a-year-plus-pharma-commodities-telecom-news\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2238.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"620886\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/egypt-to-start-manufacturing-faw-evs-in-less-than-a-year-plus-pharma-commodities-telecom-news\/2238-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2238.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2238.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2238.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2238.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620885\" class=\"content-area-description single-story post-620885 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-automotive tag-enterpriseam tag-evs tag-pharma tag-vodafone-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.ce08fa57-9ad5-44f5-934d-9cffe6604ce4.mp3\"><\/audio><\/figure>\n<p class=\"tag-border-left\">AUTOMOTIVE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt to start manufacturing FAW EVs in less than a year: <\/strong>GV Investments\u2019 automotive arm GV auto will start locally manufacturing Chinese state-owned auto manufacturer FAW Group\u2019s cheapest EV model in 1Q 2025, GV Investments Chairman Sherif Hamouda told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-27\/china-s-second-biggest-automaker-is-part-of-new-egyptian-ev-push\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The production will mainly target ride-hailing services, he added. The companies will spend up to USD 20 mn on industrial facilities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Exports on the horizon: <\/strong>Production will \u201cbe scaled up over the next three to five years,\u201d Hamouda said, pointing to the Middle East, Africa, Europe, and Latin America. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>GV Auto <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0acfb597-e43c-434d-a0f0-1d24215e4a4c\/gv-auto-signs-agreement-with-china%25e2%2580%2599s%253cmark%253e-faw%253c%2Fmark%253e-to-manufacture,-assemble,-distribute,-and-export-evs\" style=\"\" rel=\"noopener\">signed a partnership<\/a> with FAW Group to locally manufacture, assemble, market, distribute and export EVs, earlier this month. The partnership is being backed up with an initial investment of EGP 3 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TELECOM-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Vodafone\u2019s eSIMs are one approval away: <\/strong>Vodafone Egypt is ready to introduce the local market to eSIMs and is only awaiting the greenlight from the National Telecom Regulatory Authority, Foreign and Legal Affairs director Ayman Essam told <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1795068536961827263\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>eSIMs? <\/strong>Unlike their physical older brother we\u2019ve been putting in our phones over the years, eSIMs are a digital version of a SIM card that can be put in your phone by scanning a QR code or putting in a code. The newest Apple, Samsung, and Google phones are already eSIM-compatible and many believe it is only a matter of time before physical SIM cards are tossed into the dustbin of history.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s more: <\/strong>Vodafone is looking to build 700 new mobile towers in Egypt this year in order to improve the quality of its service, Essam told Asharq. The company has already invested over EGP 7 bn to develop its network in 2024, he told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d8%b9%d8%b5%d8%a7%d9%85-%d9%81%d9%88%d8%af%d8%a7%d9%81%d9%88%d9%86-%d9%85%d8%b5%d8%b1-%d8%a7%d8%b3%d8%aa%d8%ab%d9%85%d8%b1%d8%aa-%d8%a3%d9%83%d8%ab%d8%b1-%d9%85%d9%86-7-%d9%85%d9%84\/\" style=\"\" rel=\"noopener\">Al Mal<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">COMMODITIES- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Government eyes three new markets for wheat imports: <\/strong>The government is looking into importing wheat from Mexico, Zimbabwe, and Sweden, in a bid to diversify its wheat across different continents, an unnamed government official told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/64204\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%AF%D8%B1%D8%B3-%D8%B7%D8%B1%D9%82-3-%D8%A3%D8%B3%D9%88%D8%A7%D9%82-%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D9%84%D8%A7%D8%B3%D8%AA%D9%8A%D8%B1%D8%A7%D8%AF-%D8%A7%D9%84%D9%82%D9%85%D8%AD\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. Egypt commenced talks with the three potential exporters in late 2023 and it is expected to add the three nations to its list of accredited wheat suppliers in 2025 and 2026, the official added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Egypt currently has 22 countries on its list of accredited wheat suppliers. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1614a7cb-444d-4140-bf18-f42c1d684158\" style=\"\" rel=\"noopener\">India<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1614a7cb-444d-4140-bf18-f42c1d684158\" style=\"\" rel=\"noopener\">joined the list<\/a> in 2022 amid government efforts to diversify its supplies. <\/p>\n<p class=\"tag-border-left\">ENERGY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shell announces considerable gas finds: <\/strong>Two of Shell\u2019s North East El Amriya concession gas fields \u2014 Mina West and Khufu \u2014 are believed to hold a combined 2 tn cubic feet of gas reserves, one government official told <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1795000229445484869\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. Shell discovered the two fields last week. <\/p>\n<p class=\"tag-border-left\">PHARMA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pharma warehouses in the pipeline: <\/strong>The government wants to invest EGP 8 bn to set up six strategic warehouses for pharma and med supplies across six governorates including Cairo and Alexandria, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/64175\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B3%D8%AA%D8%AB%D9%85%D8%B1-8-%D9%85%D9%84%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AC%D9%86%D9%8A%D9%87-%D9%84%D8%A5%D9%86%D8%B4%D8%A7%D8%A1-6-%D9%85%D8%AE%D8%A7%D8%B2%D9%86-%D8%A7%D8%B3%D8%AA%D8%B1%D8%A7%D8%AA%D9%8A%D8%AC%D9%8A%D8%A9-%D9%84%D9%84%D8%A3%D8%AF%D9%88%D9%8A%D8%A9\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing an unnamed government official. Work on the project is currently underway with delivery expected next year, the official said. The Madbouly government inked a contract with Orascom Construction and its wholly owned subsidiary Weitz for the project last June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More investments, exports from Rubex: <\/strong>Plastic and acrylic manufacturer Rubex wants to invest some EGP 150 mn the upcoming fiscal year to help it increase sales and export volumes, chairman Magdy El Taher told Prime Minister Moustafa Madbouly during his tour of the company\u2019s factories yesterday, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0arXQ8T4QTP7ZyNmpaeX4RQnC3uMN7L6jPwYmKn5VRc4QGVm6fqi3ea6rfzqEgErZl\" style=\"\" rel=\"noopener\">statement<\/a>. The company wants to increase exports to 30% of production from their current 20%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TRADE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In efforts to boost exports:<\/strong> The Federation of Egyptian Industries (FEI) plans to send trade missions to Libya, Iraq, Saudi Arabia, UAE, Kuwait, and Qatar this year to promote Egyptian exports, FEI\u2019s Mohamed El Bahy told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/05\/27\/%D9%85%D8%B3%D8%A4%D9%88%D9%84-%D9%85%D8%B5%D8%B1-%D8%AA%D8%B7%D8%B1%D9%82-%D8%A3%D8%A8%D9%88%D8%A7%D8%A8-6-%D8%AF%D9%88%D9%84-%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D9%84%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D8%B9%D9%88%D8%A7%D8%A6%D8%AF-%D8%A7%D9%84%D8%AA%D8%B5%D8%AF%D9%8A%D8%B1-%D9%81%D9%8A-2024\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. The first mission is scheduled to visit Libya in late June.<\/p>\n<p class=\"tag-border-left\">EARNINGS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Qir Fertilizers\u2019 top line fell 18.8% y-o-y to EGP 14 bn <\/strong>in the first nine months of the current fiscal year, on the back of lower export prices and a dip in fertilizer and ammonia sales, the company said in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2195.pdf\" style=\"\" rel=\"noopener\">earnings release (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2195.pdf\" style=\"\" rel=\"noopener\">pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2195.pdf\" style=\"\" rel=\"noopener\">)<\/a>. The company\u2019s net income for the period fell 3.2% y-o-y to EGP 12.1 bn.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vodafone-egypt\/\">Vodafone Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"620887\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"620887\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/ecb-on-track-to-cut-interest-rates-next-week-top-bank-officials-suggest\/\">\r\n                            ECB on track to cut interest rates next week, top bank officials suggest                        <\/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\/28\/ecb-on-track-to-cut-interest-rates-next-week-top-bank-officials-suggest\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> 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size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"620888\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/ecb-on-track-to-cut-interest-rates-next-week-top-bank-officials-suggest\/2192-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2192.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2192.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2192.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2192.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620887\" class=\"content-area-description single-story post-620887 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-european-central-bank tag-financial-markets tag-interest-rates 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\/.d20eaf89-b66d-48ca-95b9-b3ecb47e444a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The European Central Bank could start cutting interest rates as early as its <\/strong><strong>June 6 meeting<\/strong>, the bank\u2019s chief economist Philip Lane said in an <a target=\"_blank\" href=\"https:\/\/www.ecb.europa.eu\/press\/inter\/date\/2024\/html\/ecb.in240527~ffaddc865d.en.html\" style=\"\" rel=\"noopener\">interview<\/a> with the Financial Times. \u201cBarring major surprises, at this point in time there is enough in what we see to remove the top level of restriction,\u201d Lane said. A cut would make the ECB the first major central bank to loosen monetary policy after raising rites almost three years ago to tamp down inflation.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Finland\u2019s central bank governor is also suggesting the cut will come in June. <\/strong>Olli Rehn, who also sits on the ECB\u2019s governing council, <a target=\"_blank\" href=\"https:\/\/www.suomenpankki.fi\/en\/media-and-publications\/speeches-and-interviews\/2024\/governor-olli-rehn-price-dynamics\/\" style=\"\" rel=\"noopener\">said yesterday<\/a> that inflation is falling across the Eurozone \u201cin a sustained way,\u201d meaning \u201cthe time is thus ripe in June to ease the monetary policy stance and start cutting rates.\u201d He flagged geopolitics and oil prices as risks to that forecast. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Don\u2019t expect the ECB to go nuts:<\/strong> While rate cuts are on the cards, interest rates will need to stay high enough to keep a lid on inflation, Lane suggested. \u201cThings will be bumpy and gradual. The best way to frame the debate this year is that we still need to be restrictive all year long,\u201d he said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The trigger:<\/strong> Eurozone inflation registered <a target=\"_blank\" href=\"https:\/\/ec.europa.eu\/eurostat\/en\/web\/products-euro-indicators\/w\/2-17052024-ap\" style=\"\" rel=\"noopener\">2.4% in April<\/a>, down from a peak of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bef8898b-77e6-43e7-b29e-fcf0ff68ff96\/\" style=\"\" rel=\"noopener\">over 10%<\/a> in October 2022, inching closer to the bank\u2019s <a target=\"_blank\" href=\"https:\/\/www.ecb.europa.eu\/mopo\/strategy\/pricestab\/html\/index.en.html\" style=\"\" rel=\"noopener\">2% target<\/a>. Cooling inflation data have led investors to pencil in a 25 bps cut for the benchmark deposit rate at next week\u2019s meeting, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/74b0bd6b-e7f3-4e96-bf3e-ee09e6fc3205\" style=\"\" rel=\"noopener\">FT<\/a> reports.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When can we expect rates to normalize? <\/strong>\u201cUnder the baseline forecasts, next year, when we expect wages to have visibly decelerated, when some of the base effects of fiscal measures which are pushing up inflation this year have faded out, then there will be a discussion about normalization,\u201d Lane said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh, Enterprise? What does that mean in plain English? <\/strong>Lane is suggesting the ECB is watching for two things on the inflation front before more aggressively cutting rates: For <strong>wages to grow at a slower pace<\/strong> next year \u2014 and for economies to fully <strong>adjust to the phase-out of energy subsidies and tax cuts<\/strong>. The subsidies and tax cuts were designed to shield consumers from high energy prices after Russia\u2019s invasion of Ukraine and to ease the bite of inflation. They were <a target=\"_blank\" href=\"https:\/\/www.politico.eu\/article\/european-central-bank-christine-lagarde-energy-price-support-eurozone-inflation\/\" style=\"\" rel=\"noopener\">in place throughout 2023<\/a> and are being phased out in much of the Eurozone this year.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The ECB <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/221d86aa-15ae-47a4-ba58-bdbbb347b2eb\/\" style=\"\" rel=\"noopener\">held rates steady<\/a> at its last policy meeting in April, keeping the deposit rate at a record 4% that\u2019s been in place since September.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WHAT TO WATCH for later this week:<font face=\"Arial\">\u00a0<\/font><\/strong>Friday\u2019s release of US core personal consumption expenditures, a key gauge watched by the Fed.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH NOTING THIS MORNING- <\/strong><\/p><ul>\n<li><strong>Yeah, but can you Grok it?<\/strong> Elon Musk's AI startup xAI has raised USD 6 bn in a series B round that values it at USD 24 bn. The funding will help bring the company\u2019s first products to the market, build advanced infrastructure, and ramp up the development of future technologies. Saudi\u2019s Alwaleed bin Talal and his Kingdom Holding \u2014 long shareholders of Twitter \/ X \u2014 participated in the round. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/elon-musks-xai-raises-6-bln-series-b-funding-round-2024-05-27\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<li><strong>China rolls out its largest chip fund:<\/strong> The Chinese government has launched its third fund to support the semiconductors industry. The CNY 344 bn (USD 47.5 bn) fund will help government efforts to reach self-sufficiency in semiconductors. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/china-sets-up-475-bln-state-fund-boost-semiconductor-industry-2024-05-27\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<\/ul><p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mixed this morning<\/strong>, with the Nikkei and Shanghai Composite both starting the day in the red, while the Kospi and Hang Seng are basically flat. Traders seem to have welcomed the ECB\u2019s remarks as they look forward to a shorter trading week in the US and UK, where futures were up in overnight trading. European futures are also up at dispatch time. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- Why do equities traders care about interest rates? <\/strong>Lower rates mean lower returns for investors in debt, resulting in more money in the hands of businesses and consumers. As debt yields decrease, some investors will shift back into stocks in search of better returns, even though stocks are generally more volatile than debt.<\/p><p><a target=\"_blank\" id=\"t.a24061604d036bf31032722db1d9358f1887e3ac\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27,287<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9% (YTD: +9.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 47.11<\/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 47.25<\/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 47.12<\/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 47.22<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,831<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: -1.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,831<\/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: -7.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,027<\/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: -0.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,305<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +11.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,318<\/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: +7.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,059<\/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: +11.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 83.10<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2.50<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,376<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 69,647<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.4% (YTD: +64.9%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 0.9% at yesterday\u2019s close<\/strong> on turnover of EGP 3.4 bn (30.4% below the 90-day average). Foreign investors were net buyers. The index is up 9.6% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Juhayna Food Industries (+4.8%), Eipico (+4.7%), and Delta Sugar (+4.3%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Sidi Kerir Petrochemicals (-5.6%), Mopco (-3.4%), and Palm Hills Development (-3.2%).<\/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\/european-central-bank\/\">European Central Bank<\/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\/interest-rates\/\">interest rates<\/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=\"620889\" 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=\"620889\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/us-congress-members-were-in-town-for-talks-with-el-sisi\/\">\r\n                            US Congress members were in Cairo for talks with El Sisi                        <\/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\/28\/us-congress-members-were-in-town-for-talks-with-el-sisi\/\" 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 delegation noted Egypt\u2019s \u201cgreat contribution\u201d to regional stability and thanked the country for its role as a mediator during the Israel-Hamas ceasefire negotiations. The meeting was attended by intelligence chief Abbas Kamel and members from the Democratic and Republican parties.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Foreign Minister Sameh Shoukry <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid0gEKXUJU4nvSETnWSmFBbAQik2jPjAwFdtQfETTPqv69YeLjg9s1YrdMXa9duCYiil\" style=\"\" rel=\"noopener\">called<\/a><\/strong><strong> on EU member states to recognise the State of <\/strong><strong>Palestine<\/strong>, which will mark an important step towards a two-state solution. This came during a meeting of Arab and EU foreign ministers in Brussels. Shoukry called for the \u201cnecessity of concerted Arab and European action\u201d to put an end to the Israeli aggression in Gaza and protect the people of Palestine. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T<\/strong><strong>he key takeaway: <\/strong>The meeting aimed to \u201crealize a just, comprehensive and lasting peace\u201d that guarantees the rights of the Palestinian people and the security of Israel and the wider region. \u201cThis will pave the way for normal relations among nations in the region,\u201d a joint <a target=\"_blank\" href=\"https:\/\/x.com\/KSAmofaEN\/status\/1795185558580330655\" style=\"\" rel=\"noopener\">statement<\/a> from Saudi Arabia and Norway said, without providing further details.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shoukry met with his <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid0fAWNobHdLQPFJbDpUam3jiyLnFgHN6kSMYm1U6yBUMrRJVXQhXkyD5Y95fa4vwBJl\" style=\"\" rel=\"noopener\">Swedish<\/a><\/strong><strong> and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid0m65hfx3W9Qh6dewHHhzjLcWdPQJGA6TTXScHqaruVhCRVdWSHEsB8aSeqhye1duwl\" style=\"\" rel=\"noopener\">Spanish<\/a><\/strong><strong> counterparts <\/strong>on the sidelines of the meeting \u2014- discussions centered around the war on Gaza.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH NOTING- <\/strong><strong>Egypt and Azerbaijan have agreed to cooperate on mining, green hydrogen, and <\/strong><strong>renewable energy during a joint committee meeting in Cairo<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02n8N4e8UjVZfpcxceFC4vNFjQtDgdMWXdbVjQ3a44G5ZwyfAJrsC33egoZx8oDLQLl\" style=\"\" rel=\"noopener\">statement<\/a> from the International Cooperation Ministry. Egypt will also support Azerbaijan with its climate finance efforts ahead of COP29 set to be held in the Azerbaijani capital in November. During the visit, the two sides signed three documents to cooperate in irrigation, culture, and trade.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-azerbaijan-relations\/\">Egypt-Azerbaijan relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"620891\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">10<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/are-eco-industrial-parks-the-key-to-a-cleaner-industrial-future\/\">\r\n                            Are eco-industrial parks the key to a cleaner industrial future?<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/are-eco-industrial-parks-the-key-to-a-cleaner-industrial-future\/\" 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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Yet, many industries <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/be05bb1e-d7c8-47e3-a127-b16841306df2\" style=\"\" rel=\"noopener\">currently being targeted for expansion<\/a> are not exactly known for their environmental friendliness. Which begs the question: is it possible to square industrial expansion with eco-consciousness?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Enter Egypt\u2019s new <\/strong><strong><a target=\"_blank\" href=\"https:\/\/geipp-egypt.org\/\" style=\"\" rel=\"noopener\">eco-industrial parks program<\/a><\/strong><strong>:<\/strong> The Trade Ministry is partnering with the <a target=\"_blank\" href=\"https:\/\/www.unido.org\/\" style=\"\" rel=\"noopener\">United Nations<\/a><a target=\"_blank\" href=\"https:\/\/www.unido.org\/\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.unido.org\/\" style=\"\" rel=\"noopener\">Industrial Development Organization<\/a> (UNIDO) to promote eco-industrial parks (EIPs) through its Swiss-funded <a target=\"_blank\" href=\"https:\/\/ipp.unido.org\/knowledge\/documents\/technical-assistance-needs-transformation-eco-industrial-parks\" style=\"\" rel=\"noopener\">Global Eco-Industrial Park Programme (GEIPP)<\/a>. This nearly EUR 1.7 mn initiative is piloting a program to transform industrial parks \u2014 significant emitters of pollution and waste \u2014 into more sustainable industrial ecosystems, right in our backyard.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What exactly are EIPs?<\/strong> In short, EIPs are industrial parks that integrate emissions-monitoring, waste-reuse, and sustainability planning into their operations, all while attempting to optimize across economic, social, and environmental outcomes. The hope is that by scaling these processes up to the industrial park level and coordinating across tenants and sectors, EIPs will be able to take advantage of complementarities across industries to lower the cost of sustainability measures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Learn the lingo:<\/strong> EIPs are geared toward creating or strengthening the \u201ccircular economy\u201d \u2014 UN-speak for making sure that virgin inputs are reused or recycled as much as possible. The idea is that in lieu of reducing consumption, we should try to make the products we consume greener through input reuse.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Which parks are participating? <\/strong>Egypt currently has <a target=\"_blank\" href=\"https:\/\/geipp-egypt.org\/eip-demonstration\/\" style=\"\" rel=\"noopener\">three industrial parks<\/a> \u2014 among a total of 147 nationwide \u2014 enrolled in the program: Orascom\u2019s Sokhna complex, Polaris\u2019s Sixth of October complex, and Robbiki Leather City in Badr City. Both the Orascom and Polaris parks have a mix of local and multinational companies working across a number of industries, while the Robbiki park is primarily comprised of small tanneries. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How does the program work? <\/strong>At a 20 May conference the EIP Egypt program held in Cairo, officials shared that the Trade Ministry and UNIDO are working together to design and implement a national regulatory framework for EIPs, alongside relevant government and private-sector stakeholders. This includes drafting legislation that is appropriate for the Egyptian context, but also in line with global EIP standards, communicating the benefits of EIPs to industrial park tenants, installing monitoring and waste reuse infrastructure, packaging the parks for private-sector investment, and putting in place park management teams that can assure continued operation of EIPs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is a bit of a fact-finding mission:<\/strong> By comparing outcomes at these facilities over its planned three-year run, the EIP Egypt program hopes to develop a locally appropriate framework for EIP implementation and monitoring, build capacity and facilitate cooperation across government entities, and source knowledge about what challenges broader implementation of the EIP program in Egypt\u2019s \u2014 as of 2022 \u2014 147 industrial parks might face.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This program is very much in line with our climate commitments: <\/strong>The Madbouly government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/95df0086-ab8a-4450-9da6-976377f5e05c\/egypt%25e2%2580%2599s-green-economy-in-2023:-a-run-down-of-initiatives,-investments,-and-commitments-one-year-on-from-cop27\" style=\"\" rel=\"noopener\">has said<\/a> that it wants to increase the share of renewables in power production to 42% <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/06e7e381-df4d-4d89-94c7-428dba34d5a3\" style=\"\" rel=\"noopener\">by 2030<\/a> and 50% by 2040, while the International Cooperation Ministry is aiming to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/383f2205-4f5e-4210-98fa-2eff57cc9464\" style=\"\" rel=\"noopener\">reduce<\/a> CO2 emissions by 17 mn tons a year by closing <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bb47fa0e-86be-4684-9bfb-ee1067524e29\" style=\"\" rel=\"noopener\">5 GW of gas-fired power plants<\/a> by 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You don\u2019t have to be a tree-hugger to get on board with EIPs, though \u2014<\/strong> the \u201csustainability\u201d in eco-industrial parks is as much about companies\u2019 bottom lines as saving the environment. Beyond saving money on critical inputs, EIPs offer advantages for assuring exports find markets abroad and provide expanded chances for private investment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One man\u2019s trash is another man\u2019s treasure:<\/strong> A key feature of EIPs is their potential for expanding industrial waste reuse. Wastewater treatment and reuse is particularly important given the high cost of water and its limited availability for industrial use. By installing wastewater processing facilities, industries that use significant amounts of water \u2014 such as textile, automotive, and building materials manufacturers \u2014 can get a lot more bang out of their buck.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Waste not, want not: <\/strong>Water isn\u2019t the only kind of industrial waste that can be fruitfully recycled. Solid waste and oil sludge can be used to produce biofuel capable of powering industrial production \u2014 critical for industries like cement, which has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/71a3b103-3c9e-473c-a2bc-e8f76848cd1a\/%3cmark%3e%3c\/mark%3ewith%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3ea%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3erising%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3ecost%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3eof%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3enatural%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3egas%3cmark%3e%3c\/mark%3e,%3cmark%3e%3c\/mark%3e%3cmark%3e%3c\/mark%3ehow%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3ewill%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3e%3cmark%3e-egypt%3c\/mark%3e%3cmark%3e%3c\/mark%3e%e2%80%99%3cmark%3e%3c\/mark%3es%3cmark%3e%3c\/mark%3e%3c%3cmark%3e%3c\/mark%3emark%3cmark%3e%3c\/mark%3e%3e%3cmark%3e%3c\/mark%3e%3cmark%3e%3c\/mark%3ecement%3cmark%3e%3c\/mark%3e%3c\/%3cmark%3e%3c\/mark%3emark%3cmark%3e%3c\/mark%3e%3e%3cmark%3e%3c\/mark%3e%3cmark%3e%3c\/mark%3eand%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3e%3cmark%3e-brick%3c\/mark%3e%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3e%3cmark%3e-producers%3c\/mark%3e%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3ereact%3cmark%3e%3c\/mark%3e?\" style=\"\" rel=\"noopener\">f<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/71a3b103-3c9e-473c-a2bc-e8f76848cd1a\/%3cmark%3e%3c\/mark%3ewith%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3ea%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3erising%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3ecost%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3eof%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3enatural%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3egas%3cmark%3e%3c\/mark%3e,%3cmark%3e%3c\/mark%3e%3cmark%3e%3c\/mark%3ehow%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3ewill%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3e%3cmark%3e-egypt%3c\/mark%3e%3cmark%3e%3c\/mark%3e%e2%80%99%3cmark%3e%3c\/mark%3es%3cmark%3e%3c\/mark%3e%3c%3cmark%3e%3c\/mark%3emark%3cmark%3e%3c\/mark%3e%3e%3cmark%3e%3c\/mark%3e%3cmark%3e%3c\/mark%3ecement%3cmark%3e%3c\/mark%3e%3c\/%3cmark%3e%3c\/mark%3emark%3cmark%3e%3c\/mark%3e%3e%3cmark%3e%3c\/mark%3e%3cmark%3e%3c\/mark%3eand%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3e%3cmark%3e-brick%3c\/mark%3e%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3e%3cmark%3e-producers%3c\/mark%3e%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3ereact%3cmark%3e%3c\/mark%3e?\" style=\"\" rel=\"noopener\">aced fuel price increases<\/a> in recent years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Building on existing strengths: <\/strong>Egypt already has legislation in place that can help facilitate waste reuse. In 2020, the president <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0f2c4de3-f9d4-4312-855a-f8e0efebedc7\/el-sisi-ratifies%253cmark%253e-egypt%25e2%2580%2599s%253c%2Fmark%253e%253cmark%253e-waste%253c%2Fmark%253e%253cmark%253e-management%253c%2Fmark%253e-law\" style=\"\" rel=\"noopener\">signed into law<\/a> a waste management law to create a regulatory authority responsible for creating a unified waste management program. In 2022, the <a target=\"_blank\" href=\"https:\/\/wims.wmra.gov.eg\/\" style=\"\" rel=\"noopener\">Waste Management Regulatory Authority<\/a> was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/18c41c23-9aca-4aed-9c24-ed1f3a58e575\/%253cmark%253ethe%253c%2Fmark%253e-regs-are-out%253cmark%253e-for%253c%2Fmark%253e%253cmark%253ethe%253c%2Fmark%253e-legislation-that-is-supposed-to-solve-egypt%25e2%2580%2599s-growing-waste-problem\" style=\"\" rel=\"noopener\">tasked with formulating strategies<\/a> for, among other things, expanding recycling and converting waste into profitable resources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Export sustainability is key:<\/strong> More and more countries want to source products from companies that can provide data on their carbon footprints and demonstrate a tangible commitment to sustainable production. EIPs can help domestic exporters adhere to international regulations and provide others with the data and information necessary to break into the export market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Incoming EU legislation is making industrial transition a priority rather than a preference:<\/strong> The EU\u2019s Carbon Border Adjustment Mechanism (CBAM), set to take full effect in 2026, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63f69456-ee23-4b0d-ab40-cf8156033b69\" style=\"\" rel=\"noopener\">will place a tax on EU imports<\/a> whose carbon price exceeds that in the EU. Intended to encourage countries outside the EU to adopt more environmentally friendly industrial production standards, this legislation will require exporters to provide information about their goods\u2019 carbon footprints. The EU is our biggest trading partner and was the destination for 31.1% of our exports last fiscal year, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/389.pdf\" style=\"\" rel=\"noopener\">data (pdf)<\/a> from the central bank.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Attracting multinationals:<\/strong> Being able to market an industrial park as \u201cgreen\u201d also appeals to multinationals looking to relocate production to Egypt. Having monitoring systems in place that accord with international standards may make production in Egypt more attractive for this segment of companies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The benefits of EIPs are not just limited to industrial areas, <\/strong>said New Urban Communities Authority\u2019s Samar Khalil Hassan at the 20 May GEIPP conference. NUCA and the Housing Ministry are already exploring ways to integrate EIPs into plans to build <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a2ae788-7ef9-4047-a42c-64ede5dd7980\/are%253cmark%253e-smart%253c%2Fmark%253e-infrastructure-solutions-picking-up-pace-in-egypt%3F\" style=\"\" rel=\"noopener\">smart cities<\/a>, including constructing industrial parks in these cities and using these parks to produce eco-friendly building materials.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Challenges remain: <\/strong>EIP expansion faces some challenges on the financing and implementation fronts. Significant capital investment will be needed to build utilities and infrastructure to bring existing industrial parks up to international standards. UNIDO is currently in the process of developing an online platform that will showcase potential investments in order to facilitate private-sector participation in bridging this gap. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the implementation front<\/strong>, UNIDO, the Trade Ministry, and the parks enrolled in the pilot program have faced difficulties explaining the benefits of EIPs to industrial park tenants, building park management capacity, and institutionalizing regulatory best practices across ministries. UNIDO and the Trade and Industry are seeking to address these gaps through regular capacity building and workshops.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top green economy stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Siemens Energy has launched a 1.9 MW, 8.5k sqm solar PV plant <\/strong>that will help power its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0df57d38-6259-4848-8c06-1ecb564ae0f5\" style=\"\" rel=\"noopener\">service center<\/a> in the Ain Sokhna industrial zone by covering 90% of the center\u2019s energy needs and slashing its CO2 emissions by 1.5k tons annually. (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02fMeBTvca3HgaAqdhnwx3TGCUuRfoyPcVzJaiP14gWWhTTxfDDURmyXQDsEmwJWral\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<li><strong>Cemex to run waste recycling plant in El Mahalla:<\/strong> The Gharbia governorate has signed a partnership agreement with construction firm <a target=\"_blank\" href=\"https:\/\/www.cemex.com.eg\/\" style=\"\" rel=\"noopener\">Cemex Egypt\u2019s<\/a> Assiut Cement Company to manage and operate a non-hazardous waste recycling and processing plant in El Mahalla El Kubra. (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0oPD11J9UJrPpQFVb2ZNJDbF1f6zVQNgjsxXakiMK87SmECxYqtpKAEBJnh9UDcYMl\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<li><strong>GAFI looks to drum up Dutch investments in green hydrogen:<\/strong> General Authority for Investment and Free Zones (GAFI) head Hossam Heiba showcased incentives for green hydrogen projects in Egypt in a bid to draw Dutch investors to the sector during his participation in the World Hydrogen Summit in the Netherlands. (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/GAFIEG\/posts\/pfbid0948MWG3N6XiZiRdnfcPf8CCoUkRqybvW6ENETvkEZv3NhQGwDtiEcVZWft2puVRcl\" style=\"\" rel=\"noopener\">GAFI statement<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/environment\/\">environment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"620893\" 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\/28\/620893\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-620893\" class=\"content-area-description single-story post-620893 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;\">26-28 May (Sunday - Tuesday): ProPak MENA, Egypt International Exhibition Center, New Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27-30 May (Monday - Thursday): Avior-HC Egypt virtual conference.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>29-30 May (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.terrapinn.com\/exhibition\/solar-show-mena\/index.stm\" style=\"\">Solar & Storage Live MENA<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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\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>Fire exchange | Lots of M&#038;As | EVs incoming | Vodafone eSIMs | A greener industrial future.<\/p>\n","protected":false},"featured_media":620868,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-620867","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"024c7ad2-3fad-491c-994b-48b223f6342e","teaser":"Fire exchange | Lots of M&As | EVs incoming | Vodafone eSIMs | A greener industrial future.","photo_url":"https:\/\/ent.news\/2024\/5\/2246.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>Madbouly hints at upcoming bread, fuel, electricity price hikes - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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