{"id":623634,"date":"2024-06-09T00:00:00","date_gmt":"2024-06-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=623634"},"modified":"2025-12-17T07:37:29","modified_gmt":"2025-12-17T07:37:29","slug":"imf-staff-level-agreement-on-third-loan-review-to-open-up-usd-820-mn-following-board-approval","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-staff-level-agreement-on-third-loan-review-to-open-up-usd-820-mn-following-board-approval\/","title":{"rendered":"IMF staff-level agreement on third loan review to open up USD 820 mn following board approval"},"content":{"rendered":"<section id=\"623636\" 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=\"623636\">\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\/06\/09\/a-new-cabinet-in-place-by-tuesday\/\">\r\n                            A new cabinet in place by Tuesday?                        <\/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\/06\/09\/a-new-cabinet-in-place-by-tuesday\/\" 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/09\/a-new-cabinet-in-place-by-tuesday\/23-jpg-21\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/23.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"23.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/23.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/23.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623636\" class=\"content-area-description single-story post-623636 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-politics tag-what-were-tracking-today 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\/6\/.a942997f-b382-476a-bcf1-a91523a710d6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, folks. <\/strong>We\u2019ve only got five work days ahead of us before Eid Al Adha kicks off next Sunday, but it looks like we may have a lot of local business, politics, and economy news coming our way until then. Come the end of Tuesday, a new government is expected to have been sworn in, and there are suggestions we could see up to more than half of the current ministers replaced.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But that\u2019s not all<\/strong>, we\u2019ve also got news that the IMF has reached a staff-level agreement on the third review of our loan program that will open up more funding a little down the line, the latest forecasts on May\u2019s inflation figures due to be released tomorrow, and a government tender in the works for 20 LNG shipments. So without further ado, let\u2019s jump in.<\/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>Madbouly\u2019s new gov\u2019t t<\/strong><strong>o be sworn in on Tuesday:<\/strong> Prime Minister Moustafa Madbouly\u2019s new government will make their oath before President Abdel Fattah El Sisi on Tuesday, said well-connected MP and TV presenter Mostafa Bakry on Sada El Balad (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=b5LVqQ10OTY\" style=\"\" rel=\"noopener\">watch, runtime: 1:33:28<\/a>).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We could be seeing a lot of new faces \u2014 and ministries:<\/strong> Bakry thinks that we could see up to 18 of the 32 ministers replaced and even new ministries being created. A governor shuffle is also expected to be announced on Thursday or before the Eid Al Adha break, Bakry added.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What happens after? <\/strong>The oath will be followed by an urgent session at the House, during which the new government will present its policy statement, before moving to a vote of confidence after the Eid Al Adha break.<\/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 a little cooler in Cairo today,<\/strong> with a high of 36\u00b0C and a low of 23\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>And as usual, it\u2019s a little cooler still in Alexandria<\/strong>, with a high of 30\u00b0C and a low of 20\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Want to subscribe?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">HAPPENING TOMORROW- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- Inflation nation: <\/strong>Capmas and the CBE are expected to publish inflation data for May tomorrow. Policy makers and the business community will be hoping that headline inflation cools for a third <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/54c385de-e76b-441d-9edf-fd578c68735a\/%253cmark%253einflation%253c%2Fmark%253e-cools-for-the-second-consecutive-month-in-april\" style=\"\" rel=\"noopener\">consecutive<\/a> month in May, after having eased on the back of slower food price increases as traders continued to price in a lower exchange rate than in the now-defunct parallel market.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>The forecasts have started rolling in: <\/strong>Annual urban inflation is forecasted to drop to 30.4% in May, down from 32.5% the month before, according to the median forecast of 19 analysts polled by Reuters. Standard Chartered expects May\u2019s inflation data to come in at 29.8%, the lender\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a038ca53-49a2-48c9-91bd-0593e2079033\/a-look-at-standard-chartered%25e2%2580%2599s-crystal-ball\" style=\"\" rel=\"noopener\">MENA economist Carla Slim said<\/a>. The bank sees inflation falling to around 25% by the end of the year and further cooling to around 20% in 2025, Slim added.<\/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=\"wwtt4\"><\/a> <strong>#2- Good luc<\/strong><strong>k, high school seniors (and parents):<\/strong> Thanaweya Amma exams kick off tomorrow and run through 20 July. Best of luck to all those entering exam halls or cheering on from the school gates.<\/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=\"wwtt2\"><\/a> <strong>#1- Blinken is coming to town: <\/strong>US Secretary of State Antony Blinken will visit Egypt, Israel, Qatar, and Jordan starting tomorrow until Wednesday to hold discussions on the latest ceasefire proposal laid out by US President Joe Biden, the <a target=\"_blank\" href=\"https:\/\/www.state.gov\/secretary-blinkens-travel-to-france-egypt-israel-jordan-qatar-and-italy\/\" style=\"\" rel=\"noopener\">State Department said<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Stalled diplomacy: <\/strong>While Hamas was initially reported to have viewed the proposal \u201cpositively,\u201d progress toward a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/397bbe91-ee0e-45fe-855c-37c89c14795d\/shareholders-can-buy-into-qalaa%25e2%2580%2599s-debt-today\" style=\"\" rel=\"noopener\">ceasefire agreement<\/a> has <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/biden-enlisted-qatar-and-egypt-to-pressure-hamas-it-backfired-bcc4a9e8?mod=hp_lead_pos2\" style=\"\" rel=\"noopener\">stalled<\/a> with Israeli Prime Minister Benjamin Netanyahu doubling down on his insistence that Hamas must be completely destroyed before bringing the war to an end.<\/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- We\u2019re days away from the Emergency Humanitarian Response Conference for Gaza<\/strong>, which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/153f1418-876f-49ec-a4ab-5f1fb474f56e\/shoukry,-iranian-counterpart-discuss-relations\" style=\"\" rel=\"noopener\">Egypt, Jordan, and the UN are jointly hosting<\/a> in Jordan on Tuesday. The conference aims to reach a solution that would ensure the delivery of humanitarian and medical aid for Gaza. The conference will be attended by a number of world leaders \u2014 including Blinken \u2014 and heads of humanitarian missions.<\/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- Egypt to host first <\/strong><strong>seminar<\/strong><strong> of Brics\u2019 New Development Bank outside a founding<\/strong><strong> member state<\/strong><strong>: <\/strong>The bank\u2019s president and former Brazilian head of state Dilma Rousseff will be in the New Administrative Capital on Monday and Tuesday for the bank\u2019s first international seminar held outside a founding member state of the bloc, the International Cooperation Ministry said in a <a target=\"_blank\" href=\"https:\/\/moic.gov.eg\/news\/1505\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7b8e96b-ec30-4ce0-9344-4f250f112875\" style=\"\" rel=\"noopener\">joined the bank<\/a> in March 2023 and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/05aa81b5-30b8-4470-833a-b0fe19db8541\/2024-is-already-shaping-up-to-be-a-busy-year\" style=\"\" rel=\"noopener\">became<\/a> an official Brics member in January 2024.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CORRECTION #1- <\/strong>In Thursday\u2019s issue, we incorrectly said that Egypt issued sovereign sukuk in the current fiscal year. The Finance Ministry closed its maiden sukuk issuance in February 2023. We have since amended the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/91c430c2-4817-498e-aa92-36db7b8466c0\/is-egypt-looking-to-make-its-return-to-the-international-debt-market%3F\" style=\"\" rel=\"noopener\">story<\/a> on our website. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CORRECTION #2- <\/strong>We also incorrectly said that Mountain View\u2019s latest North Coast project is located in Ras El Hekma. The project is in Sidi Abdel Rahman. We have since amended the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/071aec1d-f26b-4a72-9c25-e3a460f679da\/the-supply-ministry-wants-less-imported-wheat-and-more-local-wheat.-plus:-news-from-hsbc-and-mountain-view\" style=\"\" rel=\"noopener\">story<\/a> on our website. <\/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>An Israeli raid to free hostages is dominating headlines across the globe<\/strong>,<strong> but the detail<\/strong><strong> that 210 Palestinians were killed in the operation to release four hostages is tellingly absent <\/strong>from much of the international press. \u201cTo free four people, Israel killed dozens of innocent civilians,\u201d a paramedic told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-rescues-four-hostages-gaza-palestinians-say-50-dead-israeli-assault-2024-06-08\/\" style=\"\" rel=\"noopener\">Reuters<\/a>, describing the bombardment that centered on a market place and mosque as a \u201cmassacre.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While over in the international business press, all eyes are once again on tech oligarch<\/strong><strong> Elon Musk<\/strong> and Tesla shareholder opposition to his record USD 56 bn pay award, with a Norwegian sovereign wealth fund making clear its intention to <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/cfc9a674-8d7f-4b79-8104-14f7080a1255\" style=\"\" rel=\"noopener\">vote no<\/a> on the award when it comes up for a vote on Thursday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In our neck of the woods, Aramco is set to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-08\/saudis-said-to-hand-about-60-of-aramco-offer-to-foreign-funds\" style=\"\" rel=\"noopener\">allocate<\/a><\/strong><strong> around 60% of its shares<\/strong><strong> offered in a secondary share sale to foreign <\/strong><strong>investors<\/strong>, after it drew in order of over USD 65 bn on the back of decent demand from international buyers.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And in case you missed it, the European Central Bank <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ecb.europa.eu\/press\/pr\/date\/2024\/html\/ecb.mp240606~2148ecdb3c.en.html\" style=\"\" rel=\"noopener\">slashed rates<\/a><\/strong><strong> on Thursday for the<\/strong><strong> first time in five years<\/strong>, just a day after the Bank of Canada <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/91c430c2-4817-498e-aa92-36db7b8466c0\/is-egypt-looking-to-make-its-return-to-the-international-debt-market%3F\" style=\"\" rel=\"noopener\">also<\/a> cut rates. But we won\u2019t be seeing the Fed following suit anytime soon, say traders, who <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/06\/06\/economy\/ecb-europe-interest-rate-cut\/index.html\" style=\"\" rel=\"noopener\">still see<\/a> rates keeping steady when the Fed meets to review interest rates this week and then again when it meets in July. <\/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\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"623638 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=\"623638\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/09\/623638\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623638\" class=\"content-area-description single-story post-623638 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\/6\/114.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 El Adha holiday with us at Somabay from 14-22 June. Get ready for an exciting program packed with activities for families and kids, enchanting beach experiences, vibrant nightlife, revitalizing wellness offerings, and a delectable selection of culinary delights. Book your stay now, call 16390.<\/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=\"623639\" 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=\"623639\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/09\/imf-reaches-staff-level-agreement-on-third-loan-review\/\">\r\n                            IMF reaches staff-level agreement with Egypt on third loan review, opening up a further USD 820 mn after board approval                        <\/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\/06\/09\/imf-reaches-staff-level-agreement-on-third-loan-review\/\" 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\" 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    <!-- <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\/06\/09\/imf-reaches-staff-level-agreement-on-third-loan-review\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/671.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"623640\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/09\/imf-reaches-staff-level-agreement-on-third-loan-review\/671-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/671.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"671.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/671.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/671.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623639\" class=\"content-area-description single-story post-623639 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-debt tag-economy tag-enterpriseam tag-imf 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\/6\/.d117735b-5585-48aa-a8f8-0928b2573fb7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt is slated to get a fresh USD 820 tranche from the IMF within<\/strong> <strong>weeks:<\/strong> The International Monetary Fund has reached a staff-level agreement with Egypt on the third review of its expanded USD 8 bn loan program, which is set to unlock USD 820 mn after the Fund\u2019s executive board gives the go-ahead \u201cin the coming weeks,\u201d the Fund said in a <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2024\/06\/06\/pr-24208-egypt-imf-reaches-agreement-on-the-3rd-review-of-the-eff\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> A second IMF tranche of USD 820 mn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/317bf16c-ec16-489f-ac56-05ad40a04693\" style=\"\" rel=\"noopener\">reportedly<\/a> entered the state\u2019s coffers in April, nearly a month after the IMF\u2019s executive board <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c0f153a1-4a27-4cda-9c1d-6dfc4681517b\" style=\"\" rel=\"noopener\">signed off<\/a> on a USD 5 bn extension for the facility and completed its long-delayed first and second reviews. An initial tranche of USD 347 mn was dispersed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c374319e-e849-44f6-bf5a-8179fb41caf5\" style=\"\" rel=\"noopener\">in December 2022<\/a>.<\/p>\n<p class=\"tag-border-left\">THE KEY TAKEAWAYS FROM THE REVIEW-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Structural reforms had a noticeable impact on the economy: <\/strong>The IMF mission \u2014 which visited Cairo between 12-26 May \u2014 pointed to Egypt\u2019s resilience despite the surrounding geopolitical challenges, with the mission\u2019s Head Vladkova Hollar saying that the country \u201cstayed the course to preserve macroeconomic stability through fiscal discipline, tight monetary policy, and a shift to a flexible exchange rate regime,\u201d all of which have helped boost FX availability, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/54c385de-e76b-441d-9edf-fd578c68735a\/%253cmark%253einflation%253c%2Fmark%253e-cools-for-the-second-consecutive-month-in-april\" style=\"\" rel=\"noopener\">cool off<\/a> inflation, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/00137b19-6fbc-49ee-a1f2-1f5ad0b91e46\/egypt%25e2%2580%2599s-non-oil-private-sector-inches-closer-to-growth\" style=\"\" rel=\"noopener\">prompt<\/a> recovery in the private sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But risks loom large: <\/strong>The Fund warned that the impact of the war on Gaza and trade disruptions in the Red Sea could pose a threat to the country\u2019s economic outlook. This, coupled with domestic structural challenges, means that the government will have to stick to its reform agenda developed with the IMF to maintain and develop the progress it has made, Hollar said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Prudence is key: <\/strong>If the government is able to meet its primary balance targets, this should help reduce debt sustainability risks, Hollar argues. The government should also work to up domestic revenues so it can spend more on education, healthcare, and social programs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The privatization program will support debt management: <\/strong>The privatization of state-owned companies and assets will further support debt management and is expected to \u201cimprove efficiency and attract new investment, while generating additional resources for the treasury,\u201d Hollar said. Hollar also called for state-owned energy companies to work towards \u201cgradually\u201d balancing their books.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Inflation is still firmly in the sights of the Fund:<\/strong> The Fund kept up its calls for us to keep working towards becoming an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ba6da86a-4d90-4e47-98da-3beef39b5c1f\/another-sign-were-edging-towards-a-larger-imf-package\" style=\"\" rel=\"noopener\">\u201cinflation-targeting regime\u201d<\/a> by calling for monetary policy to be kept tight to keep inflation falling to the central bank\u2019s target.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/76a0a985-9e76-4ce5-a155-8bfa25b6f658\" style=\"\" rel=\"noopener\">Negotiations are also underway<\/a> for Egypt to access an additional; USD 1.2 bn in long-term, low-cost climate financing from the IMF's Resilience and Sustainability Facility.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egypt-will-have-access-about-820-mln-subject-imf-board-approval-fund-says-2024-06-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a><\/strong><strong> and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-06\/imf-and-egypt-reach-initial-deal-for-820-million-disbursement\" style=\"\" rel=\"noopener\">Bloomberg<\/a><\/strong><strong> also had the story.<\/strong><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"623641\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center 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                           H\u00f6egh LNG\u2019s floating regasification unit set to dock in Egypt\u2019s Ain Sokhna 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\/06\/09\/hoegh-lngs-floating-regasification-unit-set-to-dock-in-ain-sokhna-next-week\/\" 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              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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"623643\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/09\/hoegh-lngs-floating-regasification-unit-set-to-dock-in-ain-sokhna-next-week\/687-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/687.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"687.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/687.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/687.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623642\" class=\"content-area-description single-story post-623642 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-electricity tag-energy tag-enterpriseam tag-oil-and-gas 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\/6\/.3d4c1078-8a3a-49a2-9521-595f8552b13d.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A floating regasification unit will dock in Egypt next week:<\/strong> Ain Sokhna will receive the floating LNG regasification unit that the government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b93dd29c-7384-460e-acdd-e3e19b6e111a\/gov%25e2%2580%2599t-locks-in-a-lease-agreement-for-an-lng%253cmark%253e-regasification%253c%2Fmark%253e-vessel-with-norway%25e2%2580%2599s-h%25c3%25b6egh-lng\" style=\"\" rel=\"noopener\">will lease<\/a> from <a target=\"_blank\" href=\"https:\/\/hoeghlng.com\/home\/default.aspx\" style=\"\" rel=\"noopener\">Norway\u2019s H\u00f6egh LNG<\/a> in mid-June as it gears up to welcome LNG shipments to help meet heightened local demand, an anonymous government source reportedly told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/64583\/%D9%86%D8%A7%D9%82%D9%84%D8%A9-%D9%87%D9%88%D8%AC-%D8%AC%D8%A7%D9%84%D9%8A%D9%88%D9%86-%D9%84%D9%84%D8%BA%D8%A7%D8%B2-%D8%A7%D9%84%D9%85%D8%B3%D8%A7%D9%84-%D8%AA%D8%B5%D9%84-%D9%85%D8%B5%D8%B1-%D9%85%D9%86%D8%AA%D8%B5%D9%81-%D8%A7%D9%84%D8%B4%D9%87%D8%B1-%D8%A7%D9%84%D8%AD%D8%A7%D9%84%D9%8A\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The government is leasing the unit until February 2026 for USD 90 mn a year, according to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b93dd29c-7384-460e-acdd-e3e19b6e111a\/gov%25e2%2580%2599t-locks-in-a-lease-agreement-for-an-lng%253cmark%253e-regasification%253c%2Fmark%253e-vessel-with-norway%25e2%2580%2599s-h%25c3%25b6egh-lng\" style=\"\" rel=\"noopener\">unconfirmed media reports<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>The unit will run on a trial basis for a seven-day period before it kicks off operations, Asharq Business\u2019 source added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>LNG tender <\/strong><strong>incoming: <\/strong>The Madbouly government is expected to launch an international tender seeking over 15 shipments of LNG over the coming few weeks, a government source told us last week. The government is expected to launch an international tender for the shipments between mid-June and early July, one industry source told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/egypt-issue-tender-least-15-lng-cargoes-cover-summer-demand-sources-say-2024-06-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a>, while another source said the tender is awaiting the appointment of the oil minister in the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d0aa1587-c48b-4b14-b0d8-1bc173157d88\/madbouly-gets-a-mandate-to-form-a-new-government\" style=\"\" rel=\"noopener\">new cabinet<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The price tag? <\/strong>Last we heard was that the state was going to spend <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4dee55b2-9d00-4dd3-ac1f-7da2d203a76d\" style=\"\" rel=\"noopener\">around USD 120 mn<\/a> a month for three shipments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember? <\/strong>A dip in domestic production has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/317bf16c-ec16-489f-ac56-05ad40a04693\" style=\"\" rel=\"noopener\">pushed the country<\/a> from being a net exporter to a net importer of LNG in recent months. The government has been ramping up imports in efforts to address the supply gap caused by heightened demand, which translated into extended power cuts and most recently had the government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5cf6c834-839c-426e-a3db-c81d54a34f26\/fertilizer-companies-halt-production-amid-gas-supply-disruptions\" style=\"\" rel=\"noopener\">slashing gas supplies to fertilizer companies<\/a> to cut supplies to feed power generators instead. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Issue resolved? <\/strong>The Oil Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid025e8m6tmDHRLdKLgRNEPgyyst2NBKhY2o2Ta1YHq4auwB8mUbouRjXJQTbNGF9Z4Pl\" style=\"\" rel=\"noopener\">on Thursday said<\/a> it has started gradually increasing the gas supplies to fertilizer companies. <\/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\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/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=\"623644\" 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=\"623644\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/09\/float-higher-revenues-push-up-elsewedy-electrics-bottomline\/\">\r\n                            The EGP float, higher revenues push up EGX-listed Elsewedy Electric\u2019s bottomline                        <\/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\/06\/09\/float-higher-revenues-push-up-elsewedy-electrics-bottomline\/\" 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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Revenues rose 35.7% y-o-y to EGP 45.3 bn during the quarter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the growth: <\/strong>The company pointed to the float of the EGP and higher pricing in EGP on some of its products for pushing its top line up. The wires and cables segment was the main driver of revenues, growing 56.5% y-o-y to during the quarter to EGP 27.9 bn, followed by its turnkey projects, which grew 7.2% y-o-y to hit EGP 12.4 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong> \u201cGoing forward, our ability to continue delivering growth and value to shareholders is underlined by our commitment to sustainability and innovation, which ensures that we are not just keeping pace with industry advancements but are also at the forefront of shaping the future landscape of integrated, infrastructure solutions,\u201d CEO Ahmed El Sewedy wrote. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elsewedy-electric\/\">Elsewedy Electric<\/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=\"623646\" 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=\"623646\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/09\/ahmed-lotfy-promoted-to-managing-director-at-allianz-egypt\/\">\r\n                            Allianz Egypt promotes Ahmed Lotfy to managing director                        <\/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\/06\/09\/ahmed-lotfy-promoted-to-managing-director-at-allianz-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Lotfy boasts over 20 years of experience in the sector, having climbed the ladder at AIG Egypt beginning in 2002 and moved to Allianz Egypt in 2014.<\/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\/ahmed-lotfy\/\">Ahmed Lotfy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/allianz\/\">Allianz<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/allianz-egypt\/\">Allianz Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/insurance\/\">insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"623648 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=\"623648\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/09\/623648\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623648\" class=\"content-area-description single-story post-623648 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=\"623649\" 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=\"623649\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/09\/el-sisi-meets-his-azerbaijani-counterpart-to-discuss-gaza-trade-and-tensions-with-armenia\/\">\r\n                            El Sisi meets his Azerbaijani counterpart to discuss Gaza, trade, and tensions with Armenia                        <\/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 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<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/09\/el-sisi-meets-his-azerbaijani-counterpart-to-discuss-gaza-trade-and-tensions-with-armenia\/&title=El Sisi meets his Azerbaijani counterpart to discuss Gaza, trade, and tensions with Armenia\">\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=El+Sisi+meets+his+Azerbaijani+counterpart+to+discuss+Gaza%2C+trade%2C+and+tensions+with+Armenia+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F09%2Fel-sisi-meets-his-azerbaijani-counterpart-to-discuss-gaza-trade-and-tensions-with-armenia%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/707.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"707.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/707.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/707.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623649\" class=\"content-area-description single-story post-623649 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-energy tag-enterpriseam tag-last-nights-talk-shows tag-middle-east-politics tag-oil-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.1168e43c-700f-42ac-b18d-bc7102af5d91.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>It was a mixed bag on the airwaves last night<\/strong>, with government officials calling in to our nation\u2019s talking heads to make clear that gas supplies to fertilizer companies have been restored and that they\u2019re on track to clear their arrears with international energy companies, alongside coverage of the Azerbaijani premier\u2019s visit to the country.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gaza was top of the agenda of the<\/strong><strong> meeting between President Abdel Fattah El Sisi and Azerbaijani President Ilham Aliyev<\/strong>, said Al Hayah Al Youm\u2019s Mohamed Sherdi, explaining that \u201cfor us as Egypt, it [Gaza] is the main issue now that occupies our minds\u201d (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=L6A9mqauhLU\" style=\"\" rel=\"noopener\">watch, runtime: 2:08<\/a>). World leaders also \u201cwant to know the vision of the Egyptian president on this file and the developments related to this file,\u201d Sherdi added. The two also discussed strengthening economic ties and El Sisi commended recent efforts to ease tensions with Armenia. Ala Masouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=4a_r_-5lYZ8\" style=\"\" rel=\"noopener\">watch, runtime 15:02<\/a>) also dedicated airtime to the visit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cGas supplies to fertilizer factories were restored as of last Thursday,\u201d<\/strong> Oil Ministry spokesperson Hamdi Abdel Aziz said in a phone call with Lamees El Hadidi (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=3LWQajaLWCI\" style=\"\" rel=\"noopener\">watch, runtime 12:26<\/a>), following news last week that the Oil Ministry had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8ed9f513-cab1-455f-bd15-1ef7ab0cb702\/\" style=\"\" rel=\"noopener\">reduced gas supplies<\/a> to high-energy-consuming fertilizer plants last week by 20-30%. He confirmed that \u201csupplies have returned to their normal levels before the heatwave that hit the country last week.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Arrear payments to international oil and gas companies are also back on<\/strong>, as the government will pay 25% of its arrears to international oil and gas companies operating in the country this week, Abdel Aziz added. The government already paid 25% of its debts in March, Abdel Aziz explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Blackouts could be coming to end by November<\/strong>, with electricity load shedding expected to end by November or at the latest in December, Ahmed Moussa said on Ala Masouleety, citing a high-level official (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=7qW8PRkiJu4\" style=\"\" rel=\"noopener\">watch, runtime: 1:13<\/a>). Amr Adib called on the government on El Hekayah to stop power cuts in Aswan, where temperatures neared 50\u00b0C on Thursday (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=MN-KQ6JpjBg\" style=\"\" rel=\"noopener\">watch, runtime: 13:18<\/a>).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/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\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-ministry\/\">Oil Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"623651\" 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=\"623651\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/09\/the-latest-on-our-efforts-to-host-the-2036-summer-olympics\/\">\r\n                            The latest on Egypt\u2019s efforts to host the 2036 Summer Olympics                        <\/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\/06\/09\/the-latest-on-our-efforts-to-host-the-2036-summer-olympics\/\" 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\/06\/09\/the-latest-on-our-efforts-to-host-the-2036-summer-olympics\/')\">\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\/06\/09\/the-latest-on-our-efforts-to-host-the-2036-summer-olympics\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The latest on our efforts to host the 2036 Summer Olympics&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/09\/the-latest-on-our-efforts-to-host-the-2036-summer-olympics\/\">\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\/06\/09\/the-latest-on-our-efforts-to-host-the-2036-summer-olympics\/&title=The latest on our efforts to host the 2036 Summer Olympics\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+latest+on+our+efforts+to+host+the+2036+Summer+Olympics+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F09%2Fthe-latest-on-our-efforts-to-host-the-2036-summer-olympics%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\/06\/09\/the-latest-on-our-efforts-to-host-the-2036-summer-olympics\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/695.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"623652\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/09\/the-latest-on-our-efforts-to-host-the-2036-summer-olympics\/695-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/695.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"695.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/695.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/695.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623651\" class=\"content-area-description single-story post-623651 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-enterpriseam tag-sports 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\/6\/.1fe85a93-1c71-4841-adf3-2a2559493cd7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s better than one Olympic dream? Two Olympic dreams. <\/strong>Egypt is walking into the 2024 Paris Olympic Games with its biggest ever delegation of athletes in hopes of outdoing its performance in the 2021 games \u2014 its best in over seven decades \u2014 <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/olympics\/egypt-ambitious-paris-success-with-an-eye-2036-2024-06-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a> writes. Another strong performance would \u201ccontinue to build [Egypt\u2019s] credentials for a possible tilt at hosting the Summer Games in 2036,\u201d the newswire writes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where do things stand? <\/strong>Egypt is ready to organize the games, Egyptian Olympic Committee Treasurer Mohamed Abdel Aziz said, adding it has reached \u201c60% of the organizing efforts, including facilities, roads \u2026 the rest are related to budget and financial issues.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This wouldn\u2019t be Egypt\u2019s first crack at hosting the competition:<\/strong> Following three failed Olympic bids, Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8fce6bb-cf5b-43ea-8ee8-3a8ff2f36baf\/our-olympic-dreams-under-the-spotlight\" style=\"\" rel=\"noopener\">has spent the past seven or eight years<\/a> developing the main support infrastructure to make it better qualified to host the games, which includes the new capital\u2019s 92-acre Olympic City. A successful bid would make Egypt the first country in Africa to host the games. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Dive deeper: <\/strong>We took a look at how the Madbouly government is looking to the private sector to develop our sports infrastructure ahead of our planned Olympics bid in a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b779ae3d-37b2-4b85-a53a-3ea973ee9ad2\/gov%25e2%2580%2599t-looks-to-private-sector-for-infrastructure-ahead-of-planned-olympics-bid\" style=\"\" rel=\"noopener\">Hardhat<\/a> last year.<\/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\/sports\/\">sports<\/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=\"623653\" 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=\"623653\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/09\/international-holding-company-subsidiary-palm-sport-to-operate-al-ahlys-el-qalaa-el-hamraa-plus-egp-5-bn-aluminum-factory-trade-talks-with-russia-startups-news-galore\/\">\r\n                            International Holding Company subsidiary Palm Sport to operate Al Ahly\u2019s El Qalaa El Hamraa. PLUS: EGP 5 bn aluminum factory, trade talks with Russia, startups news galore                        <\/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\/06\/09\/international-holding-company-subsidiary-palm-sport-to-operate-al-ahlys-el-qalaa-el-hamraa-plus-egp-5-bn-aluminum-factory-trade-talks-with-russia-startups-news-galore\/\" 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\/06\/09\/international-holding-company-subsidiary-palm-sport-to-operate-al-ahlys-el-qalaa-el-hamraa-plus-egp-5-bn-aluminum-factory-trade-talks-with-russia-startups-news-galore\/')\">\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\/06\/09\/international-holding-company-subsidiary-palm-sport-to-operate-al-ahlys-el-qalaa-el-hamraa-plus-egp-5-bn-aluminum-factory-trade-talks-with-russia-startups-news-galore\/\">\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=International Holding Company subsidiary Palm Sport to operate Al Ahly\u2019s El Qalaa El Hamraa. PLUS: EGP 5 bn aluminum factory, trade talks with Russia, startups news galore&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/09\/international-holding-company-subsidiary-palm-sport-to-operate-al-ahlys-el-qalaa-el-hamraa-plus-egp-5-bn-aluminum-factory-trade-talks-with-russia-startups-news-galore\/\">\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\/06\/09\/international-holding-company-subsidiary-palm-sport-to-operate-al-ahlys-el-qalaa-el-hamraa-plus-egp-5-bn-aluminum-factory-trade-talks-with-russia-startups-news-galore\/&title=International Holding Company subsidiary Palm Sport to operate Al Ahly\u2019s El Qalaa El Hamraa. PLUS: EGP 5 bn aluminum factory, trade talks with Russia, startups news galore\">\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=International+Holding+Company+subsidiary+Palm+Sport+to+operate+Al+Ahly%E2%80%99s+El+Qalaa+El+Hamraa.+PLUS%3A+EGP+5+bn+aluminum+factory%2C+trade+talks+with+Russia%2C+startups+news+galore+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F09%2Finternational-holding-company-subsidiary-palm-sport-to-operate-al-ahlys-el-qalaa-el-hamraa-plus-egp-5-bn-aluminum-factory-trade-talks-with-russia-startups-news-galore%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\/06\/09\/international-holding-company-subsidiary-palm-sport-to-operate-al-ahlys-el-qalaa-el-hamraa-plus-egp-5-bn-aluminum-factory-trade-talks-with-russia-startups-news-galore\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/702.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"623654\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/09\/international-holding-company-subsidiary-palm-sport-to-operate-al-ahlys-el-qalaa-el-hamraa-plus-egp-5-bn-aluminum-factory-trade-talks-with-russia-startups-news-galore\/702-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/702.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"702.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/702.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/702.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623653\" class=\"content-area-description single-story post-623653 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-al-ahly tag-also-on-our-radar tag-banking tag-banknbox tag-edtech tag-edventures tag-egypt-russia-relations tag-enterpriseam tag-fintech tag-investment-watch tag-sports tag-startups tag-trade 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\/6\/.4ba4f335-1302-4fb6-b074-b0d700606297.mp3\"><\/audio><\/figure>\n<p class=\"tag-border-left\">INVESTMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1-<\/strong> <strong>Al Ahly\u2019s new sports complex in Sheikh Zayed gets an Emirati operator: <\/strong>Abu Dhabi-based sports management firm and International Holding Company subsidiary <a target=\"_blank\" href=\"https:\/\/www.palmssports.com\/\" style=\"\" rel=\"noopener\">Palm Sports<\/a> has been named as the operator of Al Ahly FC\u2019s newly announced sports city complex dubbed El Qalaa El Hamraa, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/679.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> A consortium of more than a dozen companies led by Al Qalaa Al Hamra Co. and exclusively advised by our friends at Beltone Investment Banking <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d2a78451-b822-495a-b4ac-e35342c55005\/%253cmark%253eal-ahly%253c%2Fmark%253e%25e2%2580%2599s-new-home-to-anchor-world-class-sports-city-in-sheikh-zayed\" style=\"\" rel=\"noopener\">announced<\/a> last week that they would be building an EGP 12 bn sports city complex in Sheikh Zayed that will house Al Ahly\u2019s new 44-k seat home stadium. In addition to the stadium, the city will include an Ahly Club museum, university, school, and a hotel as well as a hospital with a focus on sports sciences.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Haroun for Aluminum<\/strong><strong> to set up EGP 5 bn aluminum profiles<\/strong><strong> factory:<\/strong> Delemar Aluminum\u2019s parent company Haroun for Aluminum wants to invest EGP 5 bn to build an 150k sqm aluminum profiles factory in Sadat City, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/06\/08\/1799802\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports. The factory is slated to be fully completed by 2029 and be funded through a mix of the company\u2019s funds and financing from banks.<\/p>\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>Egypt eyes expanded trade ties with Russia:<\/strong> Trade Minister Ahmed Samir discussed boosting bilateral trade and the recent proposal to set <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16a75d07-03f7-4861-b1b3-ddb50c96e82e\/a-storage-facility-for-russian%253cmark%253e-grain%253c%2Fmark%253e%3F\" style=\"\" rel=\"noopener\">up<\/a> a storage facility for Russian grain with Russian officials during his visit to the country, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02T5GssZq6SAjk4uFogt1PMGi6bBnsuiYxSSztGGDZ3E7qcPBK2HKDMinBo2LWDSbfl\" style=\"\" rel=\"noopener\">ministry statement<\/a>. Samir also met with auto company <a target=\"_blank\" href=\"https:\/\/sollers-auto.com\/en\/\" style=\"\" rel=\"noopener\">Sollers<\/a> to discuss producing trucks in Egypt, cybersecurity company <a target=\"_blank\" href=\"https:\/\/cyberus.com\/en\/\" style=\"\" rel=\"noopener\">Cyberus<\/a> to talk about developing Egypt\u2019s IT and cybersecurity capabilities, oil giant <a target=\"_blank\" href=\"https:\/\/www.lukoil.com\/\" style=\"\" rel=\"noopener\">Lukoil<\/a> to find out more about its plans for Egypt, and conglomerate <a target=\"_blank\" href=\"https:\/\/sistema.com\/\" style=\"\" rel=\"noopener\">Sistema Group<\/a> to discuss transport, tourism, IT, and paper industry cooperation.<\/p>\n<p class=\"tag-border-left\">STARTUPS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong> <strong>An accelerator targeting edtech startups: <\/strong>Nahdet Misr\u2019s VC arm EdVentures and Mastercard Foundation have launched the <a target=\"_blank\" href=\"https:\/\/www.nmedventures.com\/mastercardfdnedtechfellowship\/\" style=\"\" rel=\"noopener\">Mastercard Foundation EdTech Fellowship in Egypt<\/a>, an accelerator program that aims to support local startups operating in the edtech sector through an eight-month program and USD 60k in funding, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/667.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cohort one has already been selected: <\/strong>Some 12 startups have already been selected to participate in the first round of the accelerator program, out of a total 36 edtech startups that the fellowship aims to support over the next three years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Applications are now open: <\/strong>Egypt-based, scalable edtech companies in the growth stage that are at least three years old can apply to be part of cohort 2. Apply <a target=\"_blank\" href=\"https:\/\/www.nmedventures.com\/mastercardfdnedtechfellowship-apply\/\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Elevate, the fintech startup targeting Egyptians closes pre-seed round: <\/strong>London and Dubai based fintech startup Elevate has closed a USD 5 mn pre-series A funding round, which will fund its expansion across the Middle East and Africa, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/680.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The startup will also use the fresh funds to introduce new financial services to its offerings, such as savings and investment accounts. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Elevate? <\/strong>Elevate provides US-based USD deposit accounts insured by the US Federal Deposit Ins. Corporation, tailored for non-US resident freelancers in emerging markets \u2014 that includes Egypt, the Philippines, Pakistan, and Bangladesh. \u201cThe rise of remote work and freelancing is a game-changer for emerging markets in the Middle East and Africa,\" CEO Khalid Keenan said.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Banknbox attracts more fintech services to Egypt:<\/strong> Cairo-based third-party payment processing platform Banknbox inked strategic partnerships with banks and fintech firms from eight countries during 1H 2024 to bring their services to Egypt via the company\u2019s online platform, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/693.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-ahly\/\">Al Ahly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banknbox\/\">BanknBox<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/edtech\/\">edtech<\/a>\n                <!-- <span 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data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/690.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/690.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623655\" class=\"content-area-description single-story post-623655 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-capital-markets tag-enterpriseam tag-financial-markets tag-gamestop tag-planet-finance tag-turkey 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\/6\/.2bd482ae-6bd5-4739-91f1-8e2abe7b696e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Is Turkey mulling a tax on stock and crypto investments?<\/strong> <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-04\/turkey-eyes-taxing-stock-gains-as-part-of-fiscal-tightening-push?srnd=homepage-middle-east&amp;sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported earlier on Tuesday that Turkey is close to imposing a transaction tax on trading in stocks and cryptocurrencies, citing official sources, who revealed that the Finance Minister discussed the plan last week. Treasury and Finance Minister Mehmet Simsek <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-05\/turkey-has-no-plan-to-tax-profits-on-stocks-crypto-simsek-says?ref=biztoc.com\" style=\"\" rel=\"noopener\">last week<\/a> denied the news, saying only that the government is considering a \u201cvery limited\u201d transaction tax.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The tax would come as part of a monetary tightening plan<\/strong>, aimed at shoring up Turkey\u2019s fiscal position and boosting price stability, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/turkey-impose-stocks-crypto-assets-transaction-tax-official-says-2024-06-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Turks are taking a liking to the market: <\/strong>This move could reel in substantial proceeds as more Turks are investing in the stock market, which saw equity accounts surge to 8.3 mn this year, a nearly seven-fold increase since early 2020, Bloomberg said, citing the Central Securities Depository of Turkey. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the tax could reduce volatility, analysts say:<\/strong> \u201cIn the short term, this sounds like pain for the equity market, but in the long term, it means a huge gain, [as this tax may] reduce volatility, enhance the investment culture and reduce speculation,\u201d Burak Cetinceker, a money manager at Strateji Portfoy in Istanbul told Bloomberg. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO IN PLANET FINANCE- Gamestop shares fell almost 40% <\/strong>on Friday after the company reported a 29% y-o-y dip in net sales during 1Q 2024 and shared its plan to sell more shares. Meme stock trader Roaring Kitty\u2019s held his first livestream in three years to sway investor sentiment, but failed to stop the sell-off. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/c2293c65-5aba-43ea-b7dd-21190baa94fc\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/p><p><a target=\"_blank\" id=\"t.ff09eff0599aa62d9f0bfaf1e2e4719410391f3f\" 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\">26,429<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: +6.2%)<\/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>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 47.45<\/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 47.59<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 47.48<\/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 47.58<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,560<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: -3.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,957<\/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: -6.5%)<\/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\">3,982<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: -1.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,347<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +12.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,245<\/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: +9.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,051<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +11.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 79.62<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2.92<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+3.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,325<\/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\">-2.8%<\/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 69,362.10<\/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\">+0.2% (YTD: +64.1%)<\/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 0.8% at Thursday\u2019s close<\/strong> on turnover of EGP 2.0 bn (58.2% below the 90-day average). Local investors were net sellers. The index is up 6.2% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Eastern Company (+4.9%), Delta Sugar (+2.5%), and Mopco (+0.7%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>E-Finance (-6.3%), Qalaa Holdings (-3.8%), and Palm Hills Development (-3.3%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gamestop\/\">Gamestop<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/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=\"623657\" 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\/06\/09\/623657\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623657\" class=\"content-area-description single-story post-623657 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;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10 June (Monday): CBE and Capmas to publish <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/397bbe91-ee0e-45fe-855c-37c89c14795d\/shareholders-can-buy-into-qalaa%25e2%2580%2599s-debt-today\" style=\"\">inflation data for May<\/a><\/span><span>.<\/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>29-30 June (Saturday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/17cb3909-f06f-4dc7-95d4-281f07e6c8dd\/\" style=\"\">EU-Egypt Investment Conference<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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>2-3 July (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cccpa-eg.org\/news-details\/1172\" style=\"\">Aswan Forum for Sustainable Peace and Development<\/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;\">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>16-17 July (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egyptminingforum.com\/\" style=\"\">The Egypt Mining Forum<\/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;\">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>13-17 October (Sunday-Thursday): Cairo Water Week, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cairowaterweek.eg\/\" style=\"\">Water and Climate: Building Resilient Communities<\/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>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>4-8 November (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/wuf.unhabitat.org\/\" style=\"\">World Urban Forum<\/a><\/span><span>, 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;\">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>26-28 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypt-energy.com\/en\/home.html\" style=\"\">Egypt Energy Show<\/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: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>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>1H 2024: Gov\u2019t expects to finalize sale of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/317bf16c-ec16-489f-ac56-05ad40a04693\/another-usd-820-mn-coming-our-way-from-the-imf\" style=\"\">four water desalination plants<\/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>2H 2024: Gov\u2019t to launch the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8f7fd9b9-a159-4b31-b974-f809d55f55d9\/egyptian-telecom-providers-suspend-e-wallet-fx-payments\" style=\"\">Cairo Ring Road BRT buses<\/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>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>End of 2024: The launch of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sis.gov.eg\/Story\/192175\/Trial-Operation-of-the-Sokhna-El-Alamein-Matrouh-High-Speed-Train-Starts-by-the-End-of-this-Year?lang=en-us\" style=\"\">high-speed train<\/a><\/span><span style=\"font-weight:400;\"> 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>End of 2024: Shalateen Mining Company to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/74373364-7f95-4157-9090-67ee1584c341\/nuca-to-hand-out-plots-to-four-industrial-developers-within-days.-plus:-news-from-bluev,-tmg,-and-tabreed\" style=\"\">launch a gold exploration tender<\/a><\/span><span style=\"font-weight:400;\"> 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: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad18b775-3e22-4e6b-b4fc-9dd30f4b85ad\/abu-dhabi-ports-to-build-and-run%253cmark%253e-safaga-terminal%253c%2Fmark%253e,-cruise-ship-infrastructure\" style=\"\">Safaga Terminal 2<\/a><\/span><span> 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>20 January-7 February: Egypt to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f9a5a94-cc1c-4fc1-b8c6-7c02d15cae3b\/ramadan-kareem\" style=\"\">host the African Games<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2027: Trial operations at the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52aa0e65-5b6f-4c84-aa49-70ac4152bb87\" style=\"\">Dabaa nuclear power plant<\/a><\/span><span style=\"font-weight:400;\"> 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>A new gov\u2019t by Tuesday? | Analysts see inflation easing | LNG regasification unit to dock next week | Float pushes Elsewedy\u2019s income up<\/p>\n","protected":false},"featured_media":623635,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-623634","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"e59787a6-124d-4610-b996-26fa561ff501","teaser":"A new gov\u2019t by Tuesday? | Analysts see inflation easing | LNG regasification unit to dock next week | Float pushes Elsewedy\u2019s income up","photo_url":"https:\/\/ent.news\/2024\/6\/705.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>IMF staff-level agreement on third loan review to open up USD 820 mn following board approval - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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