{"id":623777,"date":"2024-06-11T00:00:00","date_gmt":"2024-06-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=623777"},"modified":"2025-12-17T07:41:03","modified_gmt":"2025-12-17T07:41:03","slug":"inflation-falls-4-4-percentage-points-in-may-to-its-lowest-level-in-more-than-a-year","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/inflation-falls-4-4-percentage-points-in-may-to-its-lowest-level-in-more-than-a-year\/","title":{"rendered":"Inflation falls 4.4 percentage points in May to its lowest level in more than a year"},"content":{"rendered":"<section id=\"623779\" 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=\"623779\">\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\/11\/government-gears-up-to-launch-online-medical-tourism-platform\/\">\r\n                            Egyptian government gears up to launch online medical tourism platform                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/995.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"623780\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/government-gears-up-to-launch-online-medical-tourism-platform\/995-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/995.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"995.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/995.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/995.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623779\" class=\"content-area-description single-story post-623779 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-healthcare 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\/.adb34685-0705-4150-8748-8ac501c4937e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, all.<\/strong> Apologies for a later than usual issue today due to technical issues at Enterprise HQ. After a slow start to the week, we\u2019ve got a packed issue for you this morning. Not only do we have a lot of news, but we\u2019ve got some good news too \u2014 with the latest inflation data showing prices rising at their slowest in over a year. We\u2019ve got this and much more in this packed issue, so let\u2019s jump into it.<\/p><p class=\"tag-border-left\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>The countdown to the Eid break begins:<\/strong> Saturday 15 June through Thursday 20 June will be off for all public sector workers in observance of Eid El Adha, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0BX6Gs29GHV6evazRLVAB27u5qGDcpHThVmGc3Tw4Z5WFi6UudSExV34L4kUei1Vkl\" style=\"\" rel=\"noopener\">statement<\/a>. We\u2019re still waiting for confirmation from the Labor Ministry, Central Bank of Egypt, and the EGX that the private sector, banks, and bourse will follow suit.<\/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>WEATHER- Cairo is turning up the heat today<\/strong>, with a high of 38\u00b0C and a low of 25\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s also getting hotter in Alexandria<\/strong>, with a high of 32\u00b0C and a low of 22\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SPEAKING OF SCORCHING TEMPERATURES:<\/strong> Several MPs have urged the government this week to end rolling blackouts in Upper Egypt during heat waves that recently saw temperatures in Luxor and Aswan reach 49\u00b0C, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/arab-and-world\/egypt\/2024\/06\/10\/%D8%B5%D8%B9%D9%8A%D8%AF-%D9%85%D8%B5%D8%B1-%D9%8A%D8%A6%D9%86-%D9%85%D9%86-%D8%A7%D9%84%D8%AD%D8%B1%D8%A7%D8%B1%D8%A9-%D8%B7%D9%84%D8%A8%D8%A7%D8%AA-%D8%A7%D8%AD%D8%A7%D8%B7%D8%A9-%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%86%D8%A7%D8%A1-%D8%A7%D9%84%D8%B5%D8%B9%D9%8A%D8%AF-%D9%85%D9%86-%D8%AA%D8%AE%D9%81%D9%8A%D9%81-%D8%A3%D8%AD%D9%85%D8%A7%D9%84-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reports.<\/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><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=\"wwtt2\"><\/a> <strong>#1- Egypt to launch online medical tourism platform this month:<\/strong> The government is set to launch an online platform for medical tourism within the next two weeks, the Health Ministry\u2019s medical tourism advisor Samih Amer, told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/special-stories\/2024\/06\/10\/%D9%85%D8%B3%D8%A4%D9%88%D9%84-%D9%85%D8%B5%D8%B1-%D8%AA%D8%B7%D9%84%D9%82-%D9%85%D9%86%D8%B5%D8%A9-%D8%A7%D9%84%D9%83%D8%AA%D8%B1%D9%88%D9%86%D9%8A%D8%A9-%D9%84%D9%84%D8%B3%D9%8A%D8%A7%D8%AD%D8%A9-%D8%A7%D9%84%D8%B9%D9%84%D8%A7%D8%AC%D9%8A%D8%A9-%D8%AE%D9%84%D8%A7%D9%84-%D8%A3%D8%B3%D8%A8%D9%88%D8%B9%D9%8A%D9%86\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. The platform \u2014 which the government has been developing for the last year \u2014 will allow users to reserve spots in any hospital in Egypt and apply for and receive a visa for the medical treatment within 72 hours, Amer added. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>To sweeten the pot: <\/strong>As an added incentive, patients will also be able to save 25% on EgyptAir flights and get better rates at hotels during their stay.<\/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\/bd9f5dbd-734f-49f7-96cf-6fc4a7562198\/egypt-healthcare-authority-inks-agreements-with-regional-healthcare-players-in%253cmark%253e-medical-tourism-%253c%2Fmark%253epush\" style=\"\" rel=\"noopener\">has been trying<\/a> to position itself as a medical tourism hub to attract FDI and to open fresh FX revenue streams from patients from Africa, the Middle East, and Europe coming here for treatment on the back of our talented and well-trained medical staff and the competitive price point Egyptian hospitals can offer.<\/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- EBRD to unveil an electricity project soon:<\/strong> The European Bank for Reconstruction and Development (EBRD) will announce a new electricity production project to be carried out in partnership with the private sector, the bank\u2019s Egypt head Khaled Hamza told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/06\/10\/-%D8%A7%D9%84%D8%A3%D9%88%D8%B1%D9%88%D8%A8%D9%8A-%D9%84%D9%84%D8%A7%D8%B9%D9%85%D8%A7%D8%B1-%D9%84%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D8%AA%D8%AE%D8%B5%D9%8A%D8%B5-60-%D9%85%D9%86-%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA%D9%86%D8%A7-%D8%A7%D9%84%D9%82%D8%A7%D8%AF%D9%85%D8%A9-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1-%D9%84%D8%AA%D9%85%D9%88%D9%8A%D9%84-%D8%A7%D9%84%D8%A8%D9%86%D9%88%D9%83\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>, adding that we can expect the news during the Egypt-EU investment conference scheduled for 29-30 June. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also in the pipeline: <\/strong>The bank has plans to take part in financing a \u201cmajor\u201d green hydrogen project in Egypt next year, Hamza said. Hamza also teased that the bank is interested in acquiring minority stakes in a few local banks.<\/p><p class=\"tag-border-left\">HAPPENING TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- A new government <\/strong><strong>to<\/strong><strong> be formed by the end of the day? <\/strong>MP and TV presenter Mostafa Bakry said over the weekend that we should get ready for a new government to be formed by the end of today (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=b5LVqQ10OTY\" style=\"\" rel=\"noopener\">watch, runtime: 1:33:28<\/a>). We\u2019re yet to hear anything official on the matter and some think it could take a little longer for a new government to form, including fellow talk show host Ahmed Moussa who thinks the \u201cofficial announcement of the new government could be on Tuesday or Wednesday, or right after the Eid Al Adha break\u201d (watch, runtime: <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=DSWPgV5ovNo\" style=\"\" rel=\"noopener\">5:09<\/a> | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=pUL2gDxgriw\" style=\"\" rel=\"noopener\">3:51<\/a>).<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Shoukry attends day two of Brics FMs meeting: <\/strong>Foreign Minister Sameh Shoukry will participate in the second and final day of the meeting of Brics foreign ministers in Russia today. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Worth noting from day 1: <\/strong>Shoukry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid0Y2cFoiMbvZcHA1F6X1PazPxpRt8RgknH6opw8MfK8jQuhiYLUMYZKLYrJuxEMdH6l\" style=\"\" rel=\"noopener\">weighed in on<\/a> cooperation mechanisms between Brics countries and cooperation on international and regional issues during his participation in two separate sessions. He also discussed the situation in Gaza and the need to boost locally-currency trade between Brics members. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the sidelines: <\/strong>Shoukry met with his <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02H9jmMyf1cAVk8MbPD9Kn3SjdRvdwF9wAY9HgAaC1uVkE14t2sK1USoAGqrtYyvXml?locale=ar_AR\" style=\"\" rel=\"noopener\">Russian counterpart Sergey Lavrov<\/a> and <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid02AtWHb93hgsqfBEBKVzZR61AUpFw7ubPd1U77mF3mUE743jnRbZA4roQq6VJhcSbbl\" style=\"\" rel=\"noopener\">South Africa\u2019s<\/a><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid02AtWHb93hgsqfBEBKVzZR61AUpFw7ubPd1U77mF3mUE743jnRbZA4roQq6VJhcSbbl\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid02AtWHb93hgsqfBEBKVzZR61AUpFw7ubPd1U77mF3mUE743jnRbZA4roQq6VJhcSbbl\" style=\"\" rel=\"noopener\">International<\/a><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid02AtWHb93hgsqfBEBKVzZR61AUpFw7ubPd1U77mF3mUE743jnRbZA4roQq6VJhcSbbl\" style=\"\" rel=\"noopener\">Relations and Cooperation Minister Naledi Pandor<\/a>. Both meetings centered around the war in Gaza and bilateral relations.<\/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>Enter <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.apple.com\/apple-events\/\" style=\"\" rel=\"noopener\">Apple Intelligence<\/a><\/strong><strong>, <\/strong>Apple\u2019s shot at establishing itself as an AI player to be reckoned with in partnership with none other than OpenAI. Apple boss Tim Cook the \u201cnext big step\u201d that will see the iPhone and Macbook maker integrate ChatGPT on its devices and reintroduce Siri as the virtual assistant it was originally promised to be. Check out Axios\u2019 full rundown of what to expect coming to an Apple device near you soon <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2024\/06\/10\/apple-ai-strategy-openai\" style=\"\" rel=\"noopener\">here<\/a> or watch the full WWDC24 keynote <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=RXeOiIDNNek\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not everyone is thrilled though,<\/strong> including Tesla CEO Elon Musk who took to his personal venting platform X to say that he would <a target=\"_blank\" href=\"https:\/\/x.com\/elonmusk\/status\/1800265431078551973\" style=\"\" rel=\"noopener\">ban Apple devices<\/a> at his companies if the tech giant integrates OpenAI into its operating systems on the back of it being an \u201cunacceptable security violation.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And that includes Wall Street<\/strong>, which despite the mostly excited media hype around the announcement saw Apple shares falling nearly 2% on the Nasdaq yesterday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While in our neck of the woods<\/strong>, hopes for a ceasefire in Gaza are building again with the UN Security Council <a target=\"_blank\" href=\"https:\/\/news.un.org\/en\/story\/2024\/06\/1150886\" style=\"\" rel=\"noopener\">giving its backing<\/a> to a US resolution to end the 248-day-old conflict that has already claimed over 37k lives.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And over in Europe,<\/strong> it looks like Macron\u2019s wager on a snap election is at risk of backfiring, with the nation\u2019s first opinion poll following the announcement <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/france-enters-election-mode-after-far-right-win-european-parliament-vote-2024-06-10\/\" style=\"\" rel=\"noopener\">forecasting<\/a> Marine Le Pen\u2019s far-right National Rally coming in first.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/239.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We take a look at MidEast funding in climate tech, where it\u2019s going, and how much of it goes to Egypt.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"623781 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/945.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Babbo&lsquo;s Taverna pop-up on Somabay&rsquo;s Mesca Beach for Eid 2024<\/span><span style=\"\"> is bringing the party<\/span><span> vibes to the south with our favorite DJs spinning tracks that will keep you moving to the beat. Boho-chic relaxed vibes, delicious Mediterranean x Red Sea fusion cuisine, and infamous signature cocktails. Babbo&rsquo;s Taverna is more than a destination &mdash; it&rsquo;s a lifestyle.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"623782\" 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=\"623782\">\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\/11\/inflation-falls-to-lowest-level-in-over-a-year\/\">\r\n                            Egypt\u2019s inflation falls to lowest level in over a year, recording 28.1% in May                        <\/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\/11\/inflation-falls-to-lowest-level-in-over-a-year\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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This is the lowest inflation figure recorded since January 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the fall:<\/strong> Food and beverage prices \u2014 the largest component of the basket of goods and services used to calculate headline inflation \u2014 continued to rise but a significantly softer rate of 31.0% y-o-y in May, down 9.5 percentage points from a month prior. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Inflation softened across (almost) all segments: <\/strong>\u201cEleven items of the consumer price index recorded a deceleration by an average of 2.7%, except for \u201crecreation and culture\u201d \u2026 due to a surge in \u201cpackage holidays\u201d item,\u201d Al Ahly Pharos said in a note seen by Enterprise. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Monthly inflation in the negative for the first time in nearly two years:<\/strong> On a monthly basis, inflation fell on all items for the first time since June 2022, with prices falling 0.7% m-o-m. This is the biggest drop inflation has seen m-o-m since June 2019. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The trend persists:<\/strong> Food and beverage prices dipped 3% from the month before, marking the second consecutive month of deflation. This was driven by a dip in the prices of bread and cereals, meat and poultry, and vegetables. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Core inflation: <\/strong>Annual core inflation \u2014 which excludes volatile items such as food and fuel \u2014 slowed to 27.1%, down from 31.8% in April, according to <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/economic-research\/statistics\/inflation-rates\" style=\"\" rel=\"noopener\">data<\/a> from the Central Bank of Egypt. Monthly core inflation, meanwhile, was in the negative, recording -0.8%, down from 0.3% the month before. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Even better than expected:<\/strong> Analysts polled by <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/retail-consumer\/egypt-inflation-decreases-281-may-2024-06-10\/#:~:text=CAIRO%2C%20June%2010%20(Reuters),agency%20CAPMAS%20showed%20on%20Monday.\" style=\"\" rel=\"noopener\">Reuters<\/a> and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-10\/egyptian-inflation-hits-lowest-in-over-year-as-slowdown-quickens?srnd=homepage-asia\" style=\"\" rel=\"noopener\">Bloomberg<\/a> saw inflation cooling, but not as much as it did. The 19 analysts polled by Reuters saw headline inflation decreasing to a median of 30.4%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Don\u2019t celebrate yet: <\/strong>\u201cDisinflation might be temporarily interrupted by mid-year readings due to measures including decreasing <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e811dd85-332f-42a1-98ce-3d1b24f98627\/gov%25e2%2580%2599t-raises-price-of-subsidized-bread\" style=\"\" rel=\"noopener\">subsidies on bread<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/accde3e4-3b87-4093-b9b3-cbbc33b69f4b\/%253cmark%253eelectricity%253c%2Fmark%253e-prices-to-rise-in-july\" style=\"\" rel=\"noopener\">higher electricity<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b514c8d2-44d3-41f8-9eac-ef500d9b464c\/%253cmark%253epharma%253c%2Fmark%253e-products-will-see-hikes-of-up-to-50%2525\" style=\"\" rel=\"noopener\">meds prices<\/a>, and a potential hike in petroleum products\u2019 prices,\u201d Al Ahly Pharos says. Thndr Securities\u2019 Amr Elalfy agrees, telling Enterprise that \u201cthese pressures may push inflation to rebound towards 30% or slightly higher.\u201d While \u201cfavorable base effects may mitigate some impacts of these measures, we must remain vigilant about their influence on inflation figures,\u201d economist Mona Bedeir said in a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/mona-bedair-405523144_inflation-egyptianeconomy-monetarypolicy-activity-7205854708228435969-l-AV\/?utm_source=share&amp;utm_medium=member_desktop\" style=\"\" rel=\"noopener\">note shared on LinkedIn<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What does this mean for monetary policy going forward? <\/strong>Don\u2019t expect cuts before \u201cthere are clear signs of tamed inflation and well-anchored inflation expectations,\u201d Bedeir said, adding that she doesn\u2019t see the central bank cutting rates before 4Q 2024. Meanwhile, Capital Economics\u2019 MENA economist James Swanston sees the central bank cutting rates even later, penciling in early next year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Things could look up later in the year: <\/strong>\u201cWe expect the disinflation process to resume later in the year and into 2025,\u201d Swanston added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The international press also picked up the story: <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/retail-consumer\/egypt-inflation-decreases-281-may-2024-06-10\/\" style=\"\" rel=\"noopener\">Reuters<\/a> <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capmas\/\">CAPMAS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/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\/inflation\/\">inflation<\/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=\"623784\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" 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WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/sfe-acquires-a-20-stake-in-care-pharmacies-plus-city-lab-offloads-13-8-of-the-company-on-the-egx\/\">\r\n                            Egypt\u2019s sovereign wealth fund acquires 20% of Care Pharmacies for EGP 75 mn. PLUS: City Lab offloads 13.8% of the company on the EGX                        <\/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\/11\/sfe-acquires-a-20-stake-in-care-pharmacies-plus-city-lab-offloads-13-8-of-the-company-on-the-egx\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/sfe-acquires-a-20-stake-in-care-pharmacies-plus-city-lab-offloads-13-8-of-the-company-on-the-egx\/')\">\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\/11\/sfe-acquires-a-20-stake-in-care-pharmacies-plus-city-lab-offloads-13-8-of-the-company-on-the-egx\/\">\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=SFE acquires a 20% stake in Care Pharmacies. PLUS: City Lab offloads 13.8% of the company on the EGX&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/sfe-acquires-a-20-stake-in-care-pharmacies-plus-city-lab-offloads-13-8-of-the-company-on-the-egx\/\">\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\/11\/sfe-acquires-a-20-stake-in-care-pharmacies-plus-city-lab-offloads-13-8-of-the-company-on-the-egx\/&title=SFE acquires a 20% stake in Care Pharmacies. PLUS: City Lab offloads 13.8% of the company on the EGX\">\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=SFE+acquires+a+20%25+stake+in+Care+Pharmacies.+PLUS%3A+City+Lab+offloads+13.8%25+of+the+company+on+the+EGX+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F11%2Fsfe-acquires-a-20-stake-in-care-pharmacies-plus-city-lab-offloads-13-8-of-the-company-on-the-egx%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\/11\/sfe-acquires-a-20-stake-in-care-pharmacies-plus-city-lab-offloads-13-8-of-the-company-on-the-egx\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/887.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"623786\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/sfe-acquires-a-20-stake-in-care-pharmacies-plus-city-lab-offloads-13-8-of-the-company-on-the-egx\/887-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/887.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"887.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/887.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/887.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623785\" class=\"content-area-description single-story post-623785 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-b-investments tag-care-pharmacies tag-el-ezaby-pharmacy tag-enterpriseam tag-healthcare tag-ma-watch tag-pharma tag-sovereign-fund-of-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.b4f2a9ac-e0e5-4aa5-bfd4-37db4d1fd0f8.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>SFE acquires 20% of Care Pharmacies:<\/strong> The Sovereign Fund of Egypt (SFE) has acquired a 20% stake in the local pharma chain <a target=\"_blank\" href=\"https:\/\/www.care-pharmacies.com\/\" style=\"\" rel=\"noopener\">Care Pharmacies<\/a> for EGP 75 mn via its healthcare sub-fund, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/64651\/%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D9%85%D8%B5%D8%B1-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%AF%D9%8A-%D9%8A%D8%B3%D8%AA%D8%AD%D9%88%D8%B0-%D8%B9%D9%84%D9%89-20-%D9%85%D9%86-%D8%B5%D9%8A%D8%AF%D9%84%D9%8A%D8%A7%D8%AA-%D9%83%D9%8A%D8%B1\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reported, citing two sources it says are in the know.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The transaction will see the SFE take control of 45 branches <\/strong>out of the 220 run by Care Pharmacies, one of the sources said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next:<\/strong> The acquisition \u2014 which comes under the SFE\u2019s partnership with B Investments and El Ezaby \u2014 is set to be finalized in the coming weeks, according to one of the sources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The SFE partnered with private equity firm B Investments and El Ezaby <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2ad67365-7042-4cae-9df3-343bf0877aaf\" style=\"\" rel=\"noopener\">last year<\/a> to set up pharma logistics and distribution firm EZ International. The SFE and B Investments also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a9c41d46-7d0c-4f6e-af88-675213a72da1\" style=\"\" rel=\"noopener\">unveiled<\/a> plans in January 2023 to invest in the healthcare and pharma industries under two agreements that could channel more than EGP 2 bn into local businesses.<\/p>\n<p class=\"tag-border-left\">CITY LAB OFFLOADS MORE SHARES-<\/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:\/\/citylabegypt.com\/\" style=\"\" rel=\"noopener\">City Lab<\/a><\/strong><strong> sold some 88 mn shares \u2014 re<\/strong><strong>presenting 13.8% of the com<\/strong><strong>pany \u2014 for a<\/strong> <strong>total of EGP 51 mn<\/strong> in a block trade transaction on the EGX yesterday, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/936.jpg\" style=\"\" rel=\"noopener\">EGX bulletin<\/a>.<\/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:\/\/premium-dx.com\/\" style=\"\" rel=\"noopener\">Premium Diagnostics UAE<\/a> last month <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8a25597d-926f-4980-a52e-0e1351c6dd45\/\" style=\"\" rel=\"noopener\">acquired a 9.4% stake<\/a> in City Lab, snapping up some 60 mn shares for EGP 1 apiece.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who could the buyers be?<\/strong> While it\u2019s unclear who acquired the shares, we\u2019ve been expecting more of Premium Diagnostics\u2019 subsidiaries to acquire stakes in City Lab. The medical diagnostic services provider\u2019s extraordinary general assembly last month <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bba4799f-1d5e-44c4-8c54-5df57be5e741\/\" style=\"\" rel=\"noopener\">approved<\/a> selling up to EGP 250 mn worth of shares to a consortium that includes Premium Diagnostics\u2019 Saudi, Emirati, US, and Egyptian arms.<\/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\/b-investments\/\">B Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/care-pharmacies\/\">Care Pharmacies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-ezaby-pharmacy\/\">El Ezaby Pharmacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"623787\" 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=\"623787\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Healthcare<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/alameda-to-invest-usd-245-mn-on-local-regional-expansion\/\">\r\n                            Egyptian healthcare service provider Alameda to invest USD 245 mn on local, regional expansion                        <\/a>\r\n                    <\/h3>\r\n\r\n                    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  <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/alameda-to-invest-usd-245-mn-on-local-regional-expansion\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/951.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"623788\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/alameda-to-invest-usd-245-mn-on-local-regional-expansion\/951-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/951.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"951.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/951.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/951.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623787\" class=\"content-area-description single-story post-623787 post type-post status-publish format-standard has-post-thumbnail hentry category-healthcare tag-alameda-healthcare tag-enterpriseam tag-healthcare 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\/.b0e0bb57-1f4c-4d20-aa04-1e4269849c87.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Alameda Healthcare earmarks USD 245 mn for local, regional expansion: <\/strong>Local healthcare services provider <a target=\"_blank\" href=\"https:\/\/www.alameda-hc.com\/\" style=\"\" rel=\"noopener\">Alameda Healthcare<\/a> will invest some USD 245 mn to expand its footprint in Egypt and across the region, through setting up new hospitals, acquiring existing ones or expanding its own hospitals, CEO Neeraj Mishra told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/06\/10\/%D8%A3%D9%83%D8%A8%D8%B1-%D8%B4%D8%B1%D9%83%D8%A9-%D9%85%D8%B3%D8%AA%D8%B4%D9%81%D9%8A%D8%A7%D8%AA-%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D8%AE%D8%B5%D8%B5-245-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%84%D8%A7%D8%B3%D8%AA%D8%AD%D9%88%D8%A7%D8%B0%D8%A7%D8%AA-%D9%88%D8%AA%D9%88%D8%B3%D8%B9%D8%A7%D8%AA-%D9%81%D9%8A-4-%D8%AF%D9%88%D9%84\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> on the sidelines of the <a target=\"_blank\" href=\"https:\/\/africahealthexcon.com\/\" style=\"\" rel=\"noopener\">African Health ExCon<\/a> in Cairo.<\/p>\n<p class=\"tag-border-left\">LOCALLY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alameda will spend some USD 125 mn to expand locally<\/strong>, adding some 600 beds to its portfolio in Egypt \u2014 namely Greater Cairo and Assiut \u2014 Mishra said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A couple of new hospitals in the making: <\/strong>The firm has set up an EGP 1 bn hospital in Giza with the capacity to hold 200 beds and will start working on equipping and furnishing it early next year. It will also set up an EGP 2 bn, 150-bed hospital in Assiut, scheduled to open its doors in 2027. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And expanding already existing hospitals: <\/strong>The healthcare provider wants to add its Dar Al Fouad Hospitals\u2019 capacity, with plans to invest EGP 700 mn to add 80 beds to its Sixth of October branch and 32 beds to its Nasr City branch.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also in the pipeline: <\/strong>Alameda will establish seven new clinics scattered across the country\u2019s governorates, including Greater Cairo, Assiut, and Mansoura, Mishra said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The latest on Alameda\u2019s new capital hospital: <\/strong>The hospital should start operations by the end of 2026 or early 2027, Mishra said, adding that the firm now expects to invest EGP 2 bn to operate and manage the 300-bed hospital in the new capital. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The healthcare giant <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e09c2c59-a1b2-469d-94c0-a8c4f996c441\/%253cmark%253ealameda%253c%2Fmark%253e-setting-up-a-egp-1-bn-hospital-in-the-new-capital\" style=\"\" rel=\"noopener\">inked the agreement<\/a> to operate and manage the new administrative capital\u2019s \u201cfirst and largest\u201d hospital back in 2021. <\/p>\n<p class=\"tag-border-left\">REGIONALLY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The healthcare provider plans to invest USD 120 mn <\/strong>over the coming two years to acquire and run hospitals and \u201chealthcare assets\u201d in Nigeria, Kenya, Tanzania, and Saudi Arabia, Mishra said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alameda-healthcare\/\">Alameda Healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"623789 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"623789\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/623789\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623789\" class=\"content-area-description single-story post-623789 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.global\/en\/locations\/Egypt\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/674.png?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"623790\" 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=\"623790\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/everything-you-need-to-know-about-act-financial-long-awaited-ipo-next-month\/\">\r\n                            Everything you need to know about Act Financial long-awaited IPO next month                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn 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data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"953.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/953.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/953.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623790\" class=\"content-area-description single-story post-623790 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-act-financial tag-arab-african-international-bank tag-egx tag-enterpriseam tag-ipo-watch tag-zilla-capital 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\/.ed9b60fa-667b-4c80-ac69-08b425b4fd7a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Act Financial's<\/strong><strong>&nbsp;IPO goes live next month:<\/strong> Investment management firm Act Financial will proceed with its long-awaited IPO on the EGX in July, offering some 32% of the company\u2019s shares following a capital increase, according to the IPO prospectus published on the EGX yesterday. The subscription period for retail investors will take place between 9-23 July and institutional investors will get a chance to subscribe between 9-18 July.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong> The current shareholders won\u2019t exit any of its existing shares for the IPO, but will instead increase the company\u2019s capital to EGP 281.4 mn, up from EGP 191.4 bn, by issuing 360 mn new shares, on top of the company\u2019s current 765.7 mn shares. The new shares will be divided into 300 mn shares for institutional investors and 60 mn for retail investors. The company aims to raise around EGP 1.04 bn through the offering.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Act thinks it has got an offer that will tempt many investors:<\/strong> The company has set the IPO price at EGP 2.90 a piece, a 36% markdown from the fair value price set at EGP 4.54 per share. The sizable markdown from the fair value was due to an extra 20% reduction that the company decided to throw in to \u201cencourage the market\u201d to pile into the offering, since the IPO market in Egypt hasn\u2019t seen offerings for a while now, Managing Partner Mostafa Abdel Aziz told Al Arabiya Business in an interview (<a target=\"_blank\" href=\"https:\/\/x.com\/AlArabiyaBN_EG\/status\/1800145644859895898\" style=\"\" rel=\"noopener\">watch, runtime: 6:30<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s the money going?<\/strong> The offering\u2019s entire proceeds will be used to acquire \u201csignificant minorities in listed companies,\u201d said Abdel Aziz.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s all about the timing:<\/strong> Since the local market hasn\u2019t seen much IPO activity for a while now, traders and investors are laying in wait to jump on promising prospects, Abdel Aziz said. The offering is expected to perform strongly and \u201cwe\u2019re looking to set a successful example with this offering,\u201d Abdel Aziz added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> We first <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0508ea6b-bb74-47c6-af38-d9447377b4fe\/%253cmark%253eact-financial%253c%2Fmark%253e-plans-to-ipo-in-the-new-year\" style=\"\" rel=\"noopener\">caught wind<\/a> of Act\u2019s IPO plans back in 2022, when Abdel Aziz told us that the investment firm is aiming to offer up to a 40% stake on the EGX in early 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>Zilla Capital will manage the IPO, Matouk Bassiouny &amp; Hennawy will act as the company\u2019s legal advisor, Baker Tilly will provide auditing services, and Financial Advice Corporate Transactions will be the independent financial advisor to the transaction.<\/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\/act-financial\/\">Act Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arab-african-international-bank\/\">Arab African International Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/zilla-capital\/\">Zilla Capital<\/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=\"623792\" 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=\"623792\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/fintech-player-sahl-closes-usd-6-mn-in-funding-round-led-by-the-states-ayady-investments\/\">\r\n                            Egyptian fintech startup Sahl closes USD 6 mn in funding round led by the state\u2019s Ayady Investments                        <\/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\/11\/fintech-player-sahl-closes-usd-6-mn-in-funding-round-led-by-the-states-ayady-investments\/\" 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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Sahl<\/strong><strong>: <\/strong>Cairo-based fintech startup <a target=\"_blank\" href=\"https:\/\/sahlpay.app\/\" style=\"\" rel=\"noopener\">Sahl<\/a> has raised USD 6 mn in a Series A round and seed funding led by the government\u2019s <a target=\"_blank\" href=\"https:\/\/ayadyegypt.com\/\" style=\"\" rel=\"noopener\">Ayady for Investment and Development<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/894.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The startup plans to use the funds to \u201crefine and develop new offerings, prioritizing a frictionless, time-saving, and secure user experience.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Sahl:<\/strong> Founded in 2020, Sahl allows individuals and companies to pay bills and make payments through its mobile application. This includes utilities like electricity, water, and gas, as well as other services such as internet, telecom, TV subscriptions, and school fees. The company now serves over 12 mn customers every month and 15 mn households across the country. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A direct line with state entities: <\/strong>The company \u201cis one of the few\u201d that work directly with a number of government entities so that users can pay their bills, including the Egyptian Electricity Holding Company for electricity bills, the New Urban Communities Authority for water bills, all four of the country\u2019s telecom operators, Petrotrade for gas bills payment, and Cable Network Egypt for TV subscriptions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expansion on the horizon? <\/strong>The startup wants to set up shop in Saudi Arabia following its launch in the UAE.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cWe are committed to addressing the challenges faced by consumers in utility payments,\u201d said CEO Abdullah Assal. \u201cWe developed the world\u2019s first mobile solution for charging utility meters using near-field communication technology,\u201d CTO Ibrahim Assal added. <\/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\/digitization\/\">digitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"623794\" 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=\"623794\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/aman-issues-egp-1-bn-in-securitized-bonds\/\">\r\n                            Raya\u2019s Aman issues EGP 1 bn in securitized bonds                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/aman-issues-egp-1-bn-in-securitized-bonds\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/aman-issues-egp-1-bn-in-securitized-bonds\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/aman-issues-egp-1-bn-in-securitized-bonds\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Aman issues EGP 1 bn in securitized bonds&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/aman-issues-egp-1-bn-in-securitized-bonds\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/aman-issues-egp-1-bn-in-securitized-bonds\/&title=Aman issues EGP 1 bn in securitized bonds\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Aman+issues+EGP+1+bn+in+securitized+bonds+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F11%2Faman-issues-egp-1-bn-in-securitized-bonds%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/aman-issues-egp-1-bn-in-securitized-bonds\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/947.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"623795\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/aman-issues-egp-1-bn-in-securitized-bonds\/947-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/947.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"947.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/947.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/947.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623794\" class=\"content-area-description single-story post-623794 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-aman-financial-services tag-ci-capital tag-debt-watch tag-enterpriseam tag-non-banking-financial-services tag-securitization 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\/.c584d954-39ba-4133-a35d-ef3fec6ecbef.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Raya Holding\u2019s fintech arm Aman<\/strong><strong> Consumer Finance has issued EGP 1.04 bn worth of securitized<\/strong> <strong>bonds<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/896.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from CI Capital, the sole financial advisor on the transaction. The issuance was backed by an EGP 1.2 bn portfolio of consumer finance contracts issued by Aman for Consumer Finance, Aman said in a separate <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/920.pdf\" style=\"\" rel=\"noopener\">release (pdf)<\/a><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The issuance came in four tranches with tenors of 6, 9, 13, 24 months and ratings of Prime 1 and A from Middle East Rating Services (MERIS).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No. 4: <\/strong>The issuance is part of a wider EGP 5 bn, three-year securitization program that kicked off in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3bed0478-7336-4621-8db5-145529864fa2\" style=\"\" rel=\"noopener\">February 2023<\/a>. The company last tapped the securitization market with an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/71f9d5a4-1823-4e76-a5f3-3096d60f3b7c\/securitization-market-grew-2x-in-2023-amid-financial-services-boom\" style=\"\" rel=\"noopener\">EGP 1.1<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/71f9d5a4-1823-4e76-a5f3-3096d60f3b7c\/securitization-market-grew-2x-in-2023-amid-financial-services-boom\" style=\"\" rel=\"noopener\">bn issuance<\/a> in December 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Two birds, one stone: <\/strong>The portfolio used to back the fourth issuance overlaps with that used to back the third issuance of the program \u2014 a first for the Egyptian market. This only happened after the Financial Regulatory Authority greenlit the move. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>Aman plans to take to market the fifth issuance of the program in the third quarter of the year, Aman for Financial Services CEO Hazem Moghazi said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> CI Capital was the sole financial advisor, arranger, and issuance manager. The National Bank of Egypt was custodian and underwriter alongside the Arab African International Bank. Zaki Hashem provided counsel and United for Accounting, Auditing, and Tax Consulting was auditor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT: <\/strong>The issuance brings the total value of securitized bonds issued in Egypt in 2024 so far to around EGP 14.9 bn, according to data tracked by Enterprise. <\/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\/aman-financial-services\/\">Aman Financial Services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"623796 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=\"623796\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/623796\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623796\" class=\"content-area-description single-story post-623796 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/186.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"623797\" 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=\"623797\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/blinkens-meeting-with-el-sisi-to-push-for-a-gaza-ceasefire-dominated-the-airwaves\/\">\r\n                            Blinken\u2019s meeting with El Sisi to push for a Gaza ceasefire dominated the airwaves                        <\/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\/11\/blinkens-meeting-with-el-sisi-to-push-for-a-gaza-ceasefire-dominated-the-airwaves\/\" 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\/11\/blinkens-meeting-with-el-sisi-to-push-for-a-gaza-ceasefire-dominated-the-airwaves\/')\">\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\/11\/blinkens-meeting-with-el-sisi-to-push-for-a-gaza-ceasefire-dominated-the-airwaves\/\">\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=Blinken\u2019s meeting with El Sisi to push for a Gaza ceasefire dominated the airwaves&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/blinkens-meeting-with-el-sisi-to-push-for-a-gaza-ceasefire-dominated-the-airwaves\/\">\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\/11\/blinkens-meeting-with-el-sisi-to-push-for-a-gaza-ceasefire-dominated-the-airwaves\/&title=Blinken\u2019s meeting with El Sisi to push for a Gaza ceasefire dominated the airwaves\">\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=Blinken%E2%80%99s+meeting+with+El+Sisi+to+push+for+a+Gaza+ceasefire+dominated+the+airwaves+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F11%2Fblinkens-meeting-with-el-sisi-to-push-for-a-gaza-ceasefire-dominated-the-airwaves%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\/11\/blinkens-meeting-with-el-sisi-to-push-for-a-gaza-ceasefire-dominated-the-airwaves\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/978.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"623798\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/blinkens-meeting-with-el-sisi-to-push-for-a-gaza-ceasefire-dominated-the-airwaves\/978-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/978.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"978.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/978.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/978.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623797\" class=\"content-area-description single-story post-623797 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-antony-blinken tag-enterpriseam tag-last-nights-talk-shows tag-middle-east-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.a4a5e3ef-93e1-4aac-8c18-7f2716bfc2bc.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Diplomacy takes center stage:<\/strong> The nation\u2019s talking heads covered President Abdel Fattah El Sisi\u2019s <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/1020922569396471?ref=embed_post\" style=\"\" rel=\"noopener\">meeting<\/a> with US Secretary of State Antony Blinken yesterday to discuss ongoing efforts to <a target=\"_blank\" href=\"https:\/\/eg.usembassy.gov\/secretary-blinkens-meeting-with-egyptian-president-el-sisi-8\/\" style=\"\" rel=\"noopener\">secure<\/a> a ceasefire in Gaza, the release of hostages, and Egypt\u2019s initiatives to deliver humanitarian aid.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Blinken blamed Hamas for delaying <\/strong><strong>the ceasefire<\/strong>, stating that it is the only party that has not yet agreed to Biden's proposal, before leaving Egypt for Tel Aviv, Lamees El Hadidi highlighted on Kelma Akhira (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=91O80isyv1k\" style=\"\" rel=\"noopener\">watch, runtime: 4:36<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But not everyone agrees<\/strong>, including Ala Masouleety\u2019s Ahmed Moussa argued, who argued that \u201cHamas is not the problem. The problem lies with Israel. Netanyahu does not want a ceasefire. The US should pressure Netanyahu to agree to the American initiative and other proposals,\u201d (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=wOZS14fOoFc\" style=\"\" rel=\"noopener\">watch, runtime: 3:38<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/antony-blinken\/\">Antony Blinken<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"623799\" 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=\"623799\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/masria-digital-payments-ups-payment-card-production-with-new-production-lines-plus-al-ahly-cira-inversion-shalateen-mineral-resources\/\">\r\n                            Masria Digital Payments ups payment card production with new production lines. PLUS: Al Ahly CIRA, Inversion, Shalateen Mineral Resources                        <\/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\/11\/masria-digital-payments-ups-payment-card-production-with-new-production-lines-plus-al-ahly-cira-inversion-shalateen-mineral-resources\/\" 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\/11\/masria-digital-payments-ups-payment-card-production-with-new-production-lines-plus-al-ahly-cira-inversion-shalateen-mineral-resources\/')\">\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\/11\/masria-digital-payments-ups-payment-card-production-with-new-production-lines-plus-al-ahly-cira-inversion-shalateen-mineral-resources\/\">\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=Masria Digital Payments ups payment card production with new production lines. PLUS: Al Ahly CIRA, Inversion, Shalateen Mineral Resources&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/masria-digital-payments-ups-payment-card-production-with-new-production-lines-plus-al-ahly-cira-inversion-shalateen-mineral-resources\/\">\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\/11\/masria-digital-payments-ups-payment-card-production-with-new-production-lines-plus-al-ahly-cira-inversion-shalateen-mineral-resources\/&title=Masria Digital Payments ups payment card production with new production lines. PLUS: Al Ahly CIRA, Inversion, Shalateen Mineral Resources\">\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=Masria+Digital+Payments+ups+payment+card+production+with+new+production+lines.+PLUS%3A+Al+Ahly+CIRA%2C+Inversion%2C+Shalateen+Mineral+Resources+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F11%2Fmasria-digital-payments-ups-payment-card-production-with-new-production-lines-plus-al-ahly-cira-inversion-shalateen-mineral-resources%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\/11\/masria-digital-payments-ups-payment-card-production-with-new-production-lines-plus-al-ahly-cira-inversion-shalateen-mineral-resources\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/993.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"623800\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/masria-digital-payments-ups-payment-card-production-with-new-production-lines-plus-al-ahly-cira-inversion-shalateen-mineral-resources\/993-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/993.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"993.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/993.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/993.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623799\" class=\"content-area-description single-story post-623799 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-cira-education tag-debt-watch tag-egypt-healthcare-authority tag-enterpriseam tag-gold tag-healthcare tag-investment-watch tag-manufacturing tag-masria-digital-payments tag-mining tag-national-bank-of-egypt tag-real-estate tag-samsung tag-shalateen-mineral-resources wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.b18b8eac-520a-4bef-9a1c-7894b0d5a981.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">MANUFACTURING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>MDP to ramp up payment card production: <\/strong>Local e-payments firm and payment cards manufacturer <a target=\"_blank\" href=\"https:\/\/www.mdp-eg.com\/\" style=\"\" rel=\"noopener\">Masria Digital Payments<\/a> (MDP) is adding three production lines to its factory in Tenth of Ramadan City this year, with investments of USD 2 mn financed by a bank loan, CEO Ahmed Nafie told Enterprise. The new production lines will increase MDP\u2019s annual production capacity by 20% to 36 mn payment cards.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also in the pipeline:<\/strong> The company is looking into expanding into the Gulf, East Asia, and Europe, Nafie added. <\/p><p class=\"tag-border-left\">DEBT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Ahly CIRA seeks financing for Saxony Egypt University: <\/strong>Al Ahly CIRA \u2014 an education investment company set up by CIRA Education and Al Ahly Capital Holding in 2021 \u2014 is in talks with the National Bank of Egypt to secure loans worth EGP 500-600 mn to partially fund the c. EGP 1 bn first phase of the Saxony Egypt University of Applied Sciences and Technology (SEU), CIRA CEO Mohamed El Kalla told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/06\/09\/1800100\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. Al Ahly CIRA and Al Ahly Capital Holding have already financed almost half of the first phase\u2019s costs, El Kalla added.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Phase one: <\/strong>Al Ahly CIRA will <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5722d75a-8216-457e-abb8-451f57f8401f\/\" style=\"\" rel=\"noopener\">commence operations<\/a> at SEU in September, with a four-program first phase, including nursing and public health, automotive technology, artificial intelligence, and logistics, El Kalla said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The endgame: <\/strong>The university\u2019s full development is set for completion within seven years, according to El Kalla.<\/p><p class=\"tag-border-left\">REAL ESTATE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Inversion in talks to manage USD 3 bn real estate projects with Emirati investors:<\/strong> Egyptian project management firm <a target=\"_blank\" href=\"https:\/\/inversion-eg.com\/home\/\" style=\"\" rel=\"noopener\">Inversion<\/a> is negotiating with Emirati investors to manage two major real estate projects in Egypt worth a combined USD 3 bn, Chief Development Officer Kamel Ibrahim told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/06\/10\/1800330\" style=\"\" rel=\"noopener\">Al Borsa<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The projects: <\/strong>Inversion wants to manage a USD 1.5 bn integrated development in New Cairo that will have residential, commercial, and medical components. Negotiations to acquire the land from the New Urban Communities Authority are in their final stages and the project hopes to commence construction by the end of this year or early 2025, according to Ibrahim. Inversion is also in discussions with another Emirati investor to manage a second integrated development project with an investment exceeding USD 1.5 bn in a still undecided location.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An office in Dubai:<\/strong> Ibrahim also revealed to the news outlet that his company is planning to open a new office in Dubai by the end of the year.<\/p><p class=\"tag-border-left\">MINING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shalateen\u2019s four-times-extended gold tender comes to a close: <\/strong>Three firms from Russia, UK, and Saudi Arabia have been awarded gold exploration licenses by state-owned Shalateen Mineral Resources, a source from the company told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/06\/10\/1800424\" style=\"\" rel=\"noopener\">Al Borsa<\/a> without revealing the names of the company. The tender had been live for over a year and was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/04f83d9f-475c-4bc6-81fc-9d9b4062fc25\/all-eyes-on-rafah\" style=\"\" rel=\"noopener\">extended<\/a> four times due to a lack of bidders after it was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/949808ec-6766-4180-9d42-6c14825eba76\" style=\"\" rel=\"noopener\">launched<\/a> in April 2023. The official announcement of the winning companies will be made in the coming days, the source added.<\/p><p class=\"tag-border-left\">FINANCIAL SERVICES-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BHM Capital plans to expand to Egypt: <\/strong>The UAE\u2019s <a target=\"_blank\" href=\"https:\/\/www.bhmuae.ae\/\" style=\"\" rel=\"noopener\">BHM Capital<\/a> is set to enter the Egyptian market before the end of this year, the company\u2019s CEO Abdel Hadi Al Sadi <a target=\"_blank\" href=\"https:\/\/www.cnbcarabia.com\/124320\/2024\/10\/06\/%D8%A7%D9%84%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D8%AA%D9%86%D9%81%D9%8A%D8%B0%D9%8A-%D9%84%D9%80-BHM-Capital-%D9%84%D9%80-CNBC-%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9:-%D9%86%D8%AA%D9%88%D9%82%D8%B9-%D8%A7%D9%86%D8%B7%D9%84%D8%A7%D9%82-%D8%A3%D8%B9%D9%85%D8%A7%D9%84-%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D8%B3%D9%88%D9%82-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D9%82%D8%A8%D9%84-%D9%86%D9%87%D8%A7%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%85-%D8%A7%D9%84%D8%AD%D8%A7%D9%84%D9%8A\" style=\"\" rel=\"noopener\">told<\/a> CNBC Arabic. The financial services firm will enter Egypt through a joint venture and it is currently in negotiations with \u201cmore than one party\u201d to do this.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why now? <\/strong>The firm with an asset portfolio under management of over USD 10 bn had been waiting for the country to float the EGP before expanding into Egypt, Al Sadi added.<\/p><p class=\"tag-border-left\">INVESTMENT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investment area up for grabs in Sharm El Sheikh International Airport:<\/strong> The Egyptian Airports Company (EAC) has launched an international closed-envelope tender for the development and operation of a 450k sqm investment zone at the Sharm El Sheikh International Airport, using the build-operate-transfer system, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/06\/10\/1800121\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports. The project will involve the construction, management, operation, marketing, and maintenance of the investment area, located on Al Salam Road, Sharm\u2019s main thoroughfare.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cira-education\/\">CIRA Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/amid-election-surprises-em-investors-are-bullish-on-local-debt\/\">\r\n                            Amid election surprises, EM investors are bullish on local debt                        <\/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\/11\/amid-election-surprises-em-investors-are-bullish-on-local-debt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                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wp-post-image\" alt=\"\" data-attachment-id=\"623802\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/amid-election-surprises-em-investors-are-bullish-on-local-debt\/970-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/970.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"970.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/970.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/970.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623801\" class=\"content-area-description single-story post-623801 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-debt tag-emerging-markets tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.04e02b0b-d54c-4cd6-88fd-3abe9d81fb3a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>EM investors pivot towards local bonds:<\/strong> In the wake of election disruptions that have upended the \u201clong-standing\u201d positions of major developing economies\u2019 bond markets, emerging market investors such as Ashmore and Ninety One are shifting towards buying local bonds and relative value currency securities, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-09\/em-traders-flock-to-local-debt-as-election-shocks-upend-fx-bets\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. France\u2019s decision to hold snap elections, for example, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-09\/european-elections-2024-macron-calls-vote-in-effort-to-halt-advance-of-le-pen\" style=\"\" rel=\"noopener\">sent the EUR to its weakest<\/a> in a month.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investors are liking the risk:<\/strong> \u201cWe\u2019ve been increasing the frontier risk, through both local bonds and FX derivatives. We like the story in Egypt, we like some of the stories in smaller Latin American names. We\u2019re trying to diversify and not load up,\u201d Christine Reed, a portfolio manager at Ninety One told Bloomberg. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Election \u201csurprises\u201d have triggered the search for alternative return avenues,<\/strong> with the MXN \u2014 once favored for carry trades \u2014 currently losing investor favor after a bout of volatility following the elections, with concerns that potential economic reforms will increase the government\u2019s influence in the economy. Meanwhile, the Polish PLN is gaining traction for its perceived insulation from political volatility. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Appetite for Turkey\u2019s debt is also on the rise<\/strong>: In Turkey, the post-election economic overhaul, including the central bank\u2019s aggressive rate hikes and investor-friendly policies, have sparked a surge in demand for local-currency assets, with foreign holdings of TRY-denominated bonds jumping tenfold in a year, reflecting investor confidence. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What are EMs\u2019 selling points?<\/strong> \u201cWe see cleaner positioning as a positive technical factor, but more importantly for us is a country\u2019s monetary and fiscal policy stance, and inflation and growth profiles. Otherwise, we are running the risk of picking up pennies in front of a steamroller,\u201d says Valentina Chen, co-head of emerging-market debt at Mackay Shields.<\/p><p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asia-Pacific markets are mixed on their return from a public holiday<\/strong>, with Japan\u2019s Nikkei up 0.49%, while the Hang Seng is down 1.4% \u2014 seemingly unaffected by the rally over on Wall Street, which saw the Nasdaq and S&amp;P 500 hit fresh highs yesterday. <\/p><p><a target=\"_blank\" id=\"t.800b20f21b348929fe4f8c75f3891111359e3597\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">25,897<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: +4.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 47.65<\/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 47.78<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 47.65<\/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 47.75<\/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-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>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\">11,854<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +0.5%)<\/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>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\">8,990<\/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: -4.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3,974<\/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: -2.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,361<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +12.4%)<\/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>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\">8,228<\/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: +6.4%)<\/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>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\">5,016<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +11.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 81.63<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.5%<\/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>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 3.00<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+3.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,328.60<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 69,637.90<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +64.8%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 0.9% at yesterday\u2019s close<\/strong> on turnover of EGP 2.7 bn (42.1% below the 90-day average). Regional investors were net sellers. The index is up 4.0% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Mopco (+5.3%), AMOC (+5.3%), and Juhayna (+3.9%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Palm Hills Development (-2.5%), Telecom Egypt (-1.3%), and Eastern Company (-1.3%).<\/p><p class=\"tag-border-left\">CORPORATE ACTIONS- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>B Investments will pay out dividends of EGP 1 per share <\/strong>on its 2023 earnings, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/939.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/939.pdf\" style=\"\" rel=\"noopener\">)<\/a>. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"623803\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">11<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/mideast-funding-towards-climate-tech-tripled-to-usd-5-bn-last-year-but-less-than-2-went-to-entrepreneurs-in-egypt-and-the-region\/\">\r\n                            MidEast funding towards climate tech tripled to USD 5 bn last year, but less than 2% went to entrepreneurs in Egypt and the region<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/mideast-funding-towards-climate-tech-tripled-to-usd-5-bn-last-year-but-less-than-2-went-to-entrepreneurs-in-egypt-and-the-region\/\" target=\"_blank\">\n                    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           <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/766.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"623804\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/mideast-funding-towards-climate-tech-tripled-to-usd-5-bn-last-year-but-less-than-2-went-to-entrepreneurs-in-egypt-and-the-region\/766-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/766.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"766.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/766.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/766.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-623803\" class=\"content-area-description post-623803 goinggreen type-goinggreen status-publish has-post-thumbnail hentry category-going-green tag-climate-tech tag-enterprise-going-green tag-enterpriseam tag-going-green tag-startups wpautop entry\">\n\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\"> <strong>MidEast funding in climate tech is heating up despite a global slowdown:<\/strong> Middle East players invested a total of USD 5 bn in climate tech around the world in the 12-month period ending September 2023, nearly triple the USD 1.8 bn deployed a year earlier, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/675.pdf\" style=\"\" rel=\"noopener\">PwC\u2019s 202<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/675.pdf\" style=\"\" rel=\"noopener\">3 Middle East Climate Tech Report (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Defying the trend: <\/strong>The upswing came amid a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e7d3530d-dd66-4797-96b4-53f9ee901b5c\/\" style=\"\" rel=\"noopener\">global slump<\/a> in climate tech funding, which dipped by about 43% y-o-y to around USD 65 bn in 2023 on the back of a shortage in primary funding sources and macroeconomic headwinds, according to the report. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yet, less than 2% of that spending has gone to local entrepreneurs:<\/strong> Middle East players funneled some USD 69 mn into climate tech in the region during the period \u2014 a paltry 1.4% of their total investments. Instead, 70% of the funds went to innovators in North America, followed by China (14.8%), Asia Pacific (9.8%), and Europe (4%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why?<\/strong> Middle East investors are reluctant to include regional entrepreneurs \u2014 which the report describes as the \u201cmissing link\u201d in their investment strategy \u2014 due to a focus on traditional performance metrics and a preference for large-scale national projects. Measures such as ROI, for instance, are difficult to forecast for new technologies. Additionally, prestigious government projects eclipse the capabilities of smaller firms.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investors around the globe are channeling less into the Middle East, too:<\/strong> Total funding for climate tech innovators based in the Middle East dropped 84.8% y-o-y to USD 152 mn during the period.<\/p>\n<p class=\"tag-border-left\">WHERE DOES EGYPT STAND? <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt is the third largest recipient of funding in the region: <\/strong>Local companies received some USD 210 mn in global climate tech funding between 2018 and September 2023 \u2014 11.4% of the total USD 1.9 bn funneled into the Middle East during that period. The lion\u2019s share went to the UAE (63.2%), followed by Saudi Arabia (24.9%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And ranks sixth in outbound investments: <\/strong>Egyptian investors deployed a combined c. USD 30 mn in climate tech globally in 2022 and 2023, coming in 6th at the regional level. KSA claimed the top spot with USD 3.9 bn of investments, followed by the UAE (USD 2.1 bn), Qatar, Kuwait, and Oman.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have a handful of climate tech innovators in the motherland: <\/strong>Homegrown startups <a target=\"_blank\" href=\"https:\/\/natrify.github.io\/web\/\" style=\"\" rel=\"noopener\">Natrify<\/a> and <a target=\"_blank\" href=\"https:\/\/tilegreen.org\/\" style=\"\" rel=\"noopener\">TileGreen<\/a> in November were featured on PwC\u2019s first <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/677.pdf\" style=\"\" rel=\"noopener\">Net Zero Future50 Middle East report (pdf)<\/a> \u2014 a list of 50 startups in the Middle East implementing new technologies aimed at reducing emissions and addressing the impacts of global warming. Founded in 2020, Natrify produces biodegradable packaging and bioplastic products to help businesses go green. Meanwhile, TileGreen, which launched back in 2021, produces green paving tiles and sustainable building materials from plastic waste. The report also includes a number of local companies that are flagged as \u201cones to watch,\u201d including:<\/p>\n<ul>\n<li><a target=\"_blank\" href=\"https:\/\/dajin-platform.com\/ar-EG\" style=\"\" rel=\"noopener\">Dajin Platform<\/a>, a fintech platform and marketplace that seeks to provide poultry breeders with access to finance.<\/li>\n<li><a target=\"_blank\" href=\"https:\/\/www.bekia-egypt.com\/\" style=\"\" rel=\"noopener\">Bekia<\/a>, which aims to facilitate the recycling of inorganic waste through a system of collection and financial rewards.<\/li>\n<li><a target=\"_blank\" href=\"https:\/\/plstka.com\/en\" style=\"\" rel=\"noopener\">Plstka<\/a>, a tech recycling company that offers a gamified reward app.<\/li>\n<li><a target=\"_blank\" href=\"https:\/\/www.fuelin.net\/\" style=\"\" rel=\"noopener\">Fuelin<\/a>, which digitizes fuel payments for commercial vehicles.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The energy sector is the most heavily funded:<\/strong> The majority of global climate tech funds invested in both Egypt and Saudi Arabia between 2018 and September 2023 have gone into the energy sector, USD 148 mn (70.5%) and USD 369 mn (80.2%), respectively. The energy sector also received the greatest share of inbound investments at the regional level in 2023, succeeded by the mobility sector. These sectors are two of the main sources of greenhouse gas emissions, accounting for a combined 63% of the Middle East\u2019s carbon footprint.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What can be done to help climate tech startups scale up? <\/strong>Startups are taking a long time to scale up their operations, and unicorns \u2014 those valued at over USD 1 bn \u2014 are scarce. To help local entrepreneurs grow and build an ecosystem of climate tech, governments can offer more incentives to private players to stimulate investment in startups, the report suggests. These include tax breaks, subsidies, and measures aimed at minimizing investment risk \u2014 such as a system for offtake agreements and mechanisms to help investors exit with sufficient returns. Other suggestions that can be implemented by public as well as private players include:<\/p>\n<ul>\n<li><strong>Setting up funds that are dedicated to climate tech innovations.<\/strong> Sovereign wealth funds, private investors, and other players could be offered incentives to invest in these funds.<\/li>\n<li><strong>Introducing regulations that encourage innovation<\/strong> \u2014 such as building codes that require the use of sustainable materials, which increase the demand for such materials. <\/li>\n<li><strong>Leveraging the higher education system<\/strong>, which could set up incubators or accelerators and develop new curricula to cultivate environment-related skills, including climate engineering.<\/li>\n<li><strong>Efforts by industry leaders to support smaller entrepreneurs<\/strong>, such as by building R&amp;D labs, promising to buy certain amounts of innovative products from small firms through offtake agreements, and prioritizing purchases from innovative startups.<\/li>\n<\/ul>\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\/climate-tech\/\">climate tech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"623805\" 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\/11\/623805\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623805\" class=\"content-area-description single-story post-623805 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>15-20 June (Saturday-Thursday): Eid El Adha (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\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>SFE buys 20% Care Pharmacies stake | Sahl closes USD 6 mn round | Blinken talks Gaza with El Sisi<\/p>\n","protected":false},"featured_media":623778,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-623777","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"4fdcb60b-55be-442f-ba0a-c4e40adc4193","teaser":"SFE buys 20% Care Pharmacies stake | Sahl closes USD 6 mn round | Blinken talks Gaza with El Sisi","photo_url":"https:\/\/ent.news\/2024\/6\/994.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>Inflation falls 4.4 percentage points in May to its lowest level in more than a year - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, 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