{"id":623938,"date":"2024-06-13T00:00:00","date_gmt":"2024-06-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=623938"},"modified":"2025-12-17T07:44:38","modified_gmt":"2025-12-17T07:44:38","slug":"no-blackouts-during-the-eid-break","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/no-blackouts-during-the-eid-break\/","title":{"rendered":"No blackouts during the Eid break?"},"content":{"rendered":"<section id=\"623940\" 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=\"623940\">\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\/13\/chips-and-solar-panels-made-in-egypt\/\">\r\n                            Chips and solar panels made in Egypt?                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/chips-and-solar-panels-made-in-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n           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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/chips-and-solar-panels-made-in-egypt\/683-jpg-23\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/683.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"683.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/683.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/683.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623940\" class=\"content-area-description single-story post-623940 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-manufacturing tag-solar-power 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\/.8a6420ad-a2a4-4bee-90a9-232e8b45645a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, <\/strong><strong>wonderful people. <\/strong>In our last issue before most of us take the whole of next week off \u2014 EnterpriseAM Egypt included \u2014 we\u2019ve got news more port investment news than you can shake a stick at, the World Bank\u2019s first growth forecast for Egypt in the fiscal year ending 2026, a rundown of everything you need to know about the EGX\u2019s new shariah-compliant index, and much more. So one last time before the Eid El Adha break, let\u2019s jump right into it. <\/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=\"wwtt3\"><\/a> <strong>Egypt to become an electronic chip and solar cell manufacturing hub? <\/strong>The Madbouly government will launch a tender to select an international consultant who will be tasked with developing a strategy to localize the manufacturing of chips and PV cells, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid06aR8jxXGfwSXpoWgGykJf2Je8rgreRGDoiHKCa5tKCAfMSsmRfSDpGozQxqXytHMl\" style=\"\" rel=\"noopener\">statement<\/a>. While the statement didn\u2019t give a date of when we can expect the consultant to be selected, the cabinet received the greenlight to begin the procedures to launch the tender. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Read more: <\/strong>Earlier this week, we published a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/51149763-df66-4ee4-bd6f-87a84b7963c7\/why-should-egypt-double-down-on-manufacturing-solar-panels%3F%5C\" style=\"\" rel=\"noopener\">Going Green<\/a> diving into why Egypt should double down on manufacturing solar panels.<\/p><p class=\"tag-border-left\">PSA-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- The temperature is creeping up to the 40s again in Cairo,<\/strong> with a high of 40\u00b0C and a low of 27\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 more bearable in Alexandria<\/strong>, with a high of 35\u00b0C and a low of 24\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And expect a scorching weekend, <\/strong>with highs reaching 42-43\u00b0C in the capital and 35-36\u00b0C in Alexandria and Sahel, before cooling throughout the week.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Want to subscribe?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">DEBT WATCH-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>Returning trapped funds to airlines: <\/strong>The Madbouly government has paid back some USD 400 mn worth of funds blocked from repatriation to airlines operating across Egyptian airports, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a5%d9%8a%d8%a7%d8%aa%d8%a7-%d8%a7%d9%84%d9%82%d8%a7%d9%87%d8%b1%d8%a9-%d8%b3%d8%af%d8%af%d8%aa-400-%d9%85%d9%84%d9%8a%d9%88%d9%86-%d8%af%d9%88%d9%84%d8%a7%d8%b1-%d8%a3%d9%85%d9%88\/\" style=\"\" rel=\"noopener\">Al<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a5%d9%8a%d8%a7%d8%aa%d8%a7-%d8%a7%d9%84%d9%82%d8%a7%d9%87%d8%b1%d8%a9-%d8%b3%d8%af%d8%af%d8%aa-400-%d9%85%d9%84%d9%8a%d9%88%d9%86-%d8%af%d9%88%d9%84%d8%a7%d8%b1-%d8%a3%d9%85%d9%88\/\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a5%d9%8a%d8%a7%d8%aa%d8%a7-%d8%a7%d9%84%d9%82%d8%a7%d9%87%d8%b1%d8%a9-%d8%b3%d8%af%d8%af%d8%aa-400-%d9%85%d9%84%d9%8a%d9%88%d9%86-%d8%af%d9%88%d9%84%d8%a7%d8%b1-%d8%a3%d9%85%d9%88\/\" style=\"\" rel=\"noopener\">Mal<\/a> quotes International Air Transport Association (IATA) Regional Vice President of MEA Kamil Al Awadhi as saying. The float of the EGP put airports under pressure and made them unable to give airlines their revenues from ticket sales and other activities. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bigger picture: <\/strong>The association <a target=\"_blank\" href=\"https:\/\/www.iata.org\/en\/pressroom\/2024-releases\/2024-06-02-01\/\" style=\"\" rel=\"noopener\">reported a global 28% dip<\/a> in the amount of funds blocked from repatriation by governments between December 2023 to April 2024 to USD 1.8 bn, driven by \u201csignificant clearance of funds blocked\u201d in Nigeria and Egypt. <\/p><p class=\"tag-border-left\">DATA POINT- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1- <\/strong><strong>FDI rose at its quickest pace in 15 years this fiscal year<\/strong>, increasing 12.3% y-o-y to USD 10.0 bn, General Authority for Investment and Freezones Hossam Heiba <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02EbsMMGfU7Qgt5Zsh2Uw29gL9u1yBXZv3Z3yXGLRBCQ1gd65WaAKWShtf9LFk5xdHl\" style=\"\" rel=\"noopener\">said<\/a> at the New Development Bank <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4df74b2d-973b-4cbd-930c-659c6dc544c8\/a%253cmark%253e-new%253c%2Fmark%253e-cabinet-in-place-by-tuesday%3F\" style=\"\" rel=\"noopener\">seminar<\/a> at the new capital this week.<\/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- Foreign investment in local debt jumped by USD 23 bn in the month of the EGP float<\/strong>, with Egyptian debt held by foreigners reaching EGP 1.5 tn by the end of the month, up form EGP 421 bn, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/64766\/%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D8%A3%D8%AC%D8%A7%D9%86%D8%A8-%D8%A8%D8%A3%D8%AF%D9%88%D8%A7%D8%AA-%D8%A7%D9%84%D8%AF%D9%8A%D9%86-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D9%82%D9%81%D8%B2-23-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%81%D9%8A-%D8%B4%D9%87%D8%B1-%D8%A7%D9%84%D8%AA%D8%B9%D9%88%D9%8A%D9%85\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing data from the Central Bank of Egypt.<\/p><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>Another gold fund to hit the market in under two weeks:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.afim.com.eg\/public\/\" style=\"\" rel=\"noopener\">Al Ahly Financial<\/a><a target=\"_blank\" href=\"https:\/\/www.afim.com.eg\/public\/\" style=\"\" rel=\"noopener\">Investments Management<\/a> is launching its new gold investment fund on Monday 24 June, after securing the Financial Regulatory Authority\u2019s approval, Head of Business Development Hanan Wagdy told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/06\/12\/1801198\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The fund will issue a total of 100k investment certificates, each priced at up to EGP 100, Wagdy added.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>Railway station connecting Upper Egypt and the capital to launch in July:<\/strong> The new <a target=\"_blank\" href=\"https:\/\/us.sis.gov.eg\/Story\/185664\/Transport-Minister-inspects-Upper-Egypt-Railway-Station-ahead-of-opening?lang=en-us\" style=\"\" rel=\"noopener\">EGP 3.5 bn<\/a> Upper Egypt Railway Station in Giza\u2019s Bashteel will begin operations next month, <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1800827913727615396\" style=\"\" rel=\"noopener\">Asharq Business<\/a> writes, citing Transport Minister Kamel El Wazir.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CORRECTION: <\/strong>In yesterday\u2019s issue we incorrectly said that GB Auto subsidiary Itamco is already assembling Indian Bajaj\u2019s Qutes in Egypt. Itamco has an agreement with Bajaj, but it does not involve assembly. The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f3cfd5d7-a440-4aeb-8299-c5cba9e17abc\/%253cmark%253ebajaj%253c%2Fmark%253e%25e2%2580%2599s-qute-microcar-to-be-manufactured-by-gb-auto,-military-production-ministry.-plus:-ppp-education-platform-returns%3F-fabmisr-%2B-cayesh,-premium-diagnositcs-uae-%2B-city-lab,-fawry,-sfe-%2B-b-investments\" style=\"\" rel=\"noopener\">story<\/a> has since been amended on our website. <\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Steady as she goes says the Fed<\/strong>, who yesterday kept interest rates <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/economy\/central-banking\/cpi-report-fed-meeting-interest-rate-ef93c8b0\" style=\"\" rel=\"noopener\">unchanged<\/a> and forecasted only one cut to come this year in the ongoing will they, won\u2019t they interest rate cut saga occupying central banks across the globe. Despite encouraging inflation <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1239.pdf\" style=\"\" rel=\"noopener\">data (pdf)<\/a> for May also released yesterday being \u201ca step in the right direction \u2026 you don\u2019t want to be too motivated by any single data point,\u201d said Fed chief Jerome Powell (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=dY36KZL2ZWw\" style=\"\" rel=\"noopener\">watch, runtime: 1:02:04<\/a>).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It seems that Wall Street didn\u2019t get the Fed\u2019s hawkish memo<\/strong>, with the S&amp;P 500 and Nasdaq both hitting all-time highs, while the Dow slipped 0.1%. With inflation falling faster than forecasts, many traders <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-12\/bond-market-splits-from-fed-again-by-betting-on-2024-rate-cuts?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">aren\u2019t buying<\/a> the Fed\u2019s hawkish tone and are pricing two cuts by the end of the year.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WHILE IN OUR PART OF THE WORLD- Hamas has rejected US claims it has obstructed<\/strong><strong> its ceasefire plan with proposed changes<\/strong>, with officials from the organization <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/hamas-says-it-creates-broad-prospects-ceasefire-deal-gaza-2024-06-12\/\" style=\"\" rel=\"noopener\">taking to the airwaves<\/a> to argue that Israel has instead been the one refusing to agree to an end to hostilities. Despite <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-12\/blinken-says-hamas-s-cease-fire-response-means-war-will-continue?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">claims<\/a> by US State Secretary Antony Blinken that Israel has accepted the ceasefire plan \u201cas it was, as it is,\u201d Israeli PM Netanyahu has repeatedly <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/article\/2024\/jun\/01\/no-end-to-gaza-war-until-destruction-of-hamas-says-netanyahu-israel\" style=\"\" rel=\"noopener\">insisted<\/a> that he will not end the war before destroying Hamas.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN ENERGY MARKETS- We\u2019re going to have a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.iea.org\/news\/slowing-demand-growth-and-surging-supply-put-global-oil-markets-on-course-for-major-surplus-this-decade\" style=\"\" rel=\"noopener\">\u201cstaggering\u201d<\/a><\/strong><strong> glut of oil by 2030<\/strong> say the International Energy Agency that will make it a whole lot harder for Opec+ to control prices when there\u2019s 8 mn bdp in spare capacity sloshing around.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND IN TARIFF NEWS- Chinese EVs are getting hit by a fresh raft of tariffs from the EU <\/strong>as the bloc adds more fuel to a trade war with China by imposing tariffs of up to 38.1% \u2014 depending on the maker \u2014 on imports of Chinese EVs on top of a pre-existing 10% levy.<\/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\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/solar-power\/\">solar power<\/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=\"623942 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=\"623942\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/623942\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623942\" class=\"content-area-description single-story post-623942 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/945.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Babbo\u2018s Taverna pop-up on Somabay\u2019s 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\u2019s Taverna is more than a destination \u2014 it\u2019s 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=\"623943\" 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=\"623943\">\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\">Logistics<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/chinas-cosco-shipping-to-invest-usd-375-mn-in-egypt-in-2024-plus-ad-ports-to-take-over-three-tourism-terminals-taba-maritime-port-construction-to-start-2024-or-2025\/\">\r\n                            China\u2019s Cosco Shipping to invest USD 375 mn in Egypt in 2024. PLUS: AD Ports to take over three tourism terminals, Taba Maritime Port construction to start 2024 or 2025                        <\/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\/13\/chinas-cosco-shipping-to-invest-usd-375-mn-in-egypt-in-2024-plus-ad-ports-to-take-over-three-tourism-terminals-taba-maritime-port-construction-to-start-2024-or-2025\/\" 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\/13\/chinas-cosco-shipping-to-invest-usd-375-mn-in-egypt-in-2024-plus-ad-ports-to-take-over-three-tourism-terminals-taba-maritime-port-construction-to-start-2024-or-2025\/')\">\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\/13\/chinas-cosco-shipping-to-invest-usd-375-mn-in-egypt-in-2024-plus-ad-ports-to-take-over-three-tourism-terminals-taba-maritime-port-construction-to-start-2024-or-2025\/\">\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=China\u2019s Cosco Shipping to invest USD 375 mn in Egypt in 2024. 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Under the agreement, AD Ports will \u201cprovide new services, improve access for cruise operators and add new itineraries through the Group\u2019s cruise terminal network in the Red Sea.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That\u2019s not all: <\/strong>The group also inked two 30-year concession agreements with the SCZone that will see it develop, manage, and operate a roll-on, roll-off ship terminal and a cruise terminal in Ain Sokhna Port.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>The agreements \u201creaffirm our commitment to bolstering the cruise tourism sector in the Red Sea, through providing world-class facilities and services to passengers, while further strengthening bilateral ties between the UAE and Egypt,\u201d AD Ports Group CEO Mohamed Juma Al Shamisi said. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- A maritime port in Taba:<\/strong> The government will break ground on construction works on the Taba Maritime Port in 2024 or 2025, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/64747\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B9%D9%88%D9%84-%D8%B9%D9%84%D9%89-%D8%B3%D9%83%D8%A9-%D8%A7%D9%84%D8%AD%D8%AF%D9%8A%D8%AF-%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D9%84%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D8%B5%D8%A7%D8%AF%D8%B1%D8%A7%D8%AA%D9%87%D8%A7-%D8%A5%D9%84%D9%89-%D9%84%D9%8A%D8%A8%D9%8A%D8%A7\/?utm_source=twitter&amp;utm_medium=social&amp;utm_campaign=asharqbegy\" style=\"\" rel=\"noopener\">Asharq<\/a><a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/64747\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B9%D9%88%D9%84-%D8%B9%D9%84%D9%89-%D8%B3%D9%83%D8%A9-%D8%A7%D9%84%D8%AD%D8%AF%D9%8A%D8%AF-%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D9%84%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D8%B5%D8%A7%D8%AF%D8%B1%D8%A7%D8%AA%D9%87%D8%A7-%D8%A5%D9%84%D9%89-%D9%84%D9%8A%D8%A8%D9%8A%D8%A7\/?utm_source=twitter&amp;utm_medium=social&amp;utm_campaign=asharqbegy\" style=\"\" rel=\"noopener\">Business<\/a> reports, citing Transport Minister Kamel El Wazir.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ad-ports\/\">AD Ports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/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=\"623945\" 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=\"623945\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/world-bank-maintains-egypts-growth-forecast-shares-forecast-for-fy-25-26\/\">\r\n                            World Bank maintains Egypt\u2019s growth forecast + shares forecast for FY 25-26                        <\/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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data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1217.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623945\" class=\"content-area-description single-story post-623945 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-gdp tag-world-bank 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\/.cf64fc59-706a-4dbc-816f-2c7e40a5661b.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>World Bank holds Egypt\u2019s growth outlook steady:<\/strong> The international lender sees the Egyptian economy growing at a 2.8% clip during the fiscal year 2023-2024, keeping its outlook unchanged from its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b9e5252-4c7e-4b34-808c-fb4aa5ef7989\/%253cmark%253eworld-bank%253c%2Fmark%253e-cuts-egypt%25e2%2580%2599s-gdp-growth-for-fy-2023%2F24-to-2.8%2525\" style=\"\" rel=\"noopener\">April forecast<\/a>, it said in its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1102.pdf\" style=\"\" rel=\"noopener\">Global Economic Prospects report (pdf)<\/a>. It also kept its outlook for the next fiscal year unchanged at 4.2%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And our first look at the bank\u2019s forecast for FY 2025-26: <\/strong>The lender penciled in growth picking up to 4.6% in FY 2025-26. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the growth: <\/strong>Growth picking up is \u201cpropelled by investment growth partly spurred by a large-scale <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4461a6ec-f67a-45d9-b396-b6b1f6533a35\/second-usd-20-bn-tranche-of-ras-el-hekma-funds-land-in-egypt%25e2%2580%2599s-coffers\" style=\"\" rel=\"noopener\">agreement with the United Arab Emirates<\/a>. Private consumption is also expected to expand, supported by a recovery in remittances and a decline in inflation. Exchange rate depreciation will boost net exports,\u201d the report said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The bank <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b9e5252-4c7e-4b34-808c-fb4aa5ef7989\/%253cmark%253eworld-bank%253c%2Fmark%253e-cuts-egypt%25e2%2580%2599s-gdp-growth-for-fy-2023%2F24-to-2.8%2525\" style=\"\" rel=\"noopener\">downgraded our growth outlook<\/a> for the current fiscal year in April, slashing it by 0.7 percentage points from its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cbee3c58-b57c-4307-b4ea-3a5b987a7545\" style=\"\" rel=\"noopener\">January forecast<\/a>, citing sluggish industrial sector performance and high inflation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REGIONALLY- <\/strong>The bank sees MENA grow at a 2.8% then to 4.2% in 2025 before slowing to 3.6% in the fiscal year ending in 2026, driven by a slowdown in GCC countries, who are expected to see their economies grow at a rate of 2.8 this year then 4.7% next year before slowing to 3.5% in 2026<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/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=\"623947\" 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=\"623947\">\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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/the-a-z-of-the-newly-launched-shariah-compliant-index\/\">\r\n                            The A-Z of Egypt\u2019s newly launched shariah-compliant index                        <\/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\/13\/the-a-z-of-the-newly-launched-shariah-compliant-index\/\" 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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Talaat Mousta Group maxes out cap as the index\u2019s largest component with 15.0%, followed by Elsewedy Electric with 10.3%, and Abu Qir Fertilizers is third largest component with a 9.1% weight.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The selection criteria: <\/strong>Sheikh explained that for the sake of market stability and creating an attractive offer for investors, the index\u2019s components were chosen from EGX100-listed companies whose activities are at least \u2014 by revenue \u2014 90% compliant with the shariah will be eligible to join the EGX33, the EGX said in a separate <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1182.pdf\" style=\"\" rel=\"noopener\">handout (pdf)<\/a>. Companies that are not listed in the EGX100 but have a shariah supervisory board can also be included in the EGX33 provided they meet a minimum liquidity requirement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The small print:<\/strong> The ratio of interest-bearing investments and loans \u2014 including long- and short-term ones \u2014 to the company\u2019s total assets or average market value \u2014 whichever is bigger \u2014 shouldn\u2019t exceed 33%. The company\u2019s liquid assets to total assets ratio also shouldn\u2019t exceed 70%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In safe hands: <\/strong>The Shariah Supervisory Committee overseeing the index and the methodology to choose its companies is made up of Islamic finance experts and scholars in Islamic law.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It could be popular with investors: <\/strong>Since the start of the year, the index is already outperforming its fellow indices on the EGX, according to the statement. It is hoped that the index will not just be of interest to local investors, but also attract others in the region and globally. Before its launch, there were already \u201crepeated requests from a large number of local, regional, and international investors\u201d for a shariah-compliant index, El Sheikh said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The index will undergo semi-annual reviews<\/strong> at the end of January and July, with changes reflected at the start of February and August.<\/p>\n<p class=\"tag-border-left\">HERE COMES THE SHARIAH FUNDS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have a timeline on CI Capital\u2019s new fund:<\/strong> CI Capital\u2019s asset management arm CI Capital Asset Management\u2019s new shariah-compliant fund will be launched in 3Q this year, CEO Amr Abol Enein, told CNBC Arabic in an interview (<a target=\"_blank\" href=\"https:\/\/www.cnbcarabia.com\/124438\/2024\/12\/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%D8%B4%D8%B1%D9%83%D8%A9-CI-%D9%83%D8%A7%D8%A8%D9%8A%D8%AA%D8%A7%D9%84-%D9%84%D8%A5%D8%AF%D8%A7%D8%B1%D8%A9-%D8%A7%D9%84%D8%A3%D8%B5%D9%88%D9%84-%D9%84%D9%80-CNBC-%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9:-%D9%86%D8%B3%D8%AA%D9%87%D8%AF%D9%81-%D8%A3%D9%86-%D9%8A%D9%83%D9%88%D9%86-%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D8%A7%D9%84%D8%B0%D9%8A-%D9%8A%D8%AD%D8%A7%D9%83%D9%8A-%D9%85%D8%A4%D8%B4%D8%B1-%D8%A7%D9%84%D8%B4%D8%B1%D9%8A%D8%B9%D8%A9-EGX33-%D9%85%D9%86-%D8%A3%D9%83%D8%A8%D8%B1-5-%D8%B5%D9%86%D8%A7%D8%AF%D9%8A%D9%82-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1\" style=\"\" rel=\"noopener\">watch, runtime: 4:25<\/a>). Enien is looking to make the fund one of the country\u2019s five largest and added that his company is looking to drum up most of the fund\u2019s capital from Gulf countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Azimut\u2019s shariah fund asks for regulator\u2019s blessing:<\/strong> Asset manager Azimut has filed an application with the Financial Regulatory Authority to launch its new shariah-compliant fund in the EGX33, Azimut Managing Director Ahmed Abou El Saad told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/06\/12\/1801136\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. Investors can buy into the new fund right after it secures the required regulatory approvals, he confirmed. The new fund is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0889fd4b-0756-425f-8e4a-4e58377a17d6\/\" style=\"\" rel=\"noopener\">one of three new investment funds<\/a> the asset manager wants to launch before the end of the year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ahmed-el-sheikh\/\">Ahmed El Sheikh<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/azimut-egypt-asset-management\/\">Azimut Egypt Asset Management<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ci-capital\/\">CI Capital<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"623949 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=\"623949\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/623949\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623949\" class=\"content-area-description single-story post-623949 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.global\/en\/locations\/Egypt\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/674.png?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"623950\" 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=\"623950\">\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\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/hsbc-was-named-egypts-best-bank-for-diversity-and-inclusion\/\">\r\n                            HSBC was named Egypt\u2019s Best Bank for Diversity and Inclusion                        <\/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\/13\/hsbc-was-named-egypts-best-bank-for-diversity-and-inclusion\/\" 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\/13\/hsbc-was-named-egypts-best-bank-for-diversity-and-inclusion\/')\">\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\/13\/hsbc-was-named-egypts-best-bank-for-diversity-and-inclusion\/\">\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=HSBC was named Egypt\u2019s Best Bank for Diversity and Inclusion&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/hsbc-was-named-egypts-best-bank-for-diversity-and-inclusion\/\">\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\/13\/hsbc-was-named-egypts-best-bank-for-diversity-and-inclusion\/&title=HSBC was named Egypt\u2019s Best Bank for Diversity and Inclusion\">\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=HSBC+was+named+Egypt%E2%80%99s+Best+Bank+for+Diversity+and+Inclusion+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F13%2Fhsbc-was-named-egypts-best-bank-for-diversity-and-inclusion%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\/13\/hsbc-was-named-egypts-best-bank-for-diversity-and-inclusion\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1221.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"623951\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/hsbc-was-named-egypts-best-bank-for-diversity-and-inclusion\/1221-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1221.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1221.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1221.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1221.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623950\" class=\"content-area-description single-story post-623950 post type-post status-publish format-standard has-post-thumbnail hentry category-kudos tag-cib tag-enterpriseam tag-forbes tag-hsbc tag-kudos tag-qnb-alahli tag-smes 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\/.ee3914dc-0cf8-4a11-aa65-888c88a32040.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And the award goes to: <\/strong> HSBC was named Egypt\u2019s Best Bank for Diversity and Inclusion at the <a target=\"_blank\" href=\"https:\/\/www.euromoney.com\/awards\/awards-for-excellence\/2024-results\" style=\"\" rel=\"noopener\">Euromoney<\/a><a target=\"_blank\" href=\"https:\/\/www.euromoney.com\/awards\/awards-for-excellence\/2024-results\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.euromoney.com\/awards\/awards-for-excellence\/2024-results\" style=\"\" rel=\"noopener\">Awards for Excellence 2024<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1180.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from the lender. The award recognizes HSBC\u2019s work supporting widows and students with disabilities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cBeing recognised as the Best Bank for Diversity and Inclusion demonstrates our commitment to creating an inclusive business that supports diverse groups in both our workplace and the wider community,\u201d said HSBC Egypt CEO Todd Wilcox.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That trophy shelf is getting pretty heavy: <\/strong>HSBC also received awards for Best Investment Bank in the Middle East, Best Bank for Sustainable Finance, and Best Bank for Financing in the region.<\/p>\n<p class=\"tag-border-left\">EGYPT\u2019S TOP COMPANIES FOR THE YEAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Forbes Middle East has released its <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/egypts-top-50-listed-companies-2024\/\" style=\"\" rel=\"noopener\">list of Egypt\u2019s<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/egypts-top-50-listed-companies-2024\/\" style=\"\" rel=\"noopener\"><\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/egypts-top-50-listed-companies-2024\/\" style=\"\" rel=\"noopener\">Top 50 Listed Companies<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/egypts-top-50-listed-companies-2024\/\" style=\"\" rel=\"noopener\">2024<\/a><\/strong>, taking into account the companies\u2019 market value, sales, assets, and income for the 2023 financial year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Little change from <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/886b44f9-ca8e-4c8c-8774-860250641204\/the-country%25e2%2580%2599s-50-top-listed-companies,-according-to%253cmark%253e-forbes%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">l<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/886b44f9-ca8e-4c8c-8774-860250641204\/the-country%25e2%2580%2599s-50-top-listed-companies,-according-to%253cmark%253e-forbes%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">ast year<\/a><\/strong><strong>:<\/strong> Orascom Construction was the only newcomer to the top five this year, taking over the fifth spot from Egypt Kuwait Holding. The top five are:<\/p>\n<ul>\n<li>CIB<\/li>\n<li>QNB Alahli<\/li>\n<li>Elsewedy Electric<\/li>\n<li>Telecom Egypt<\/li>\n<li>Orascom Construction<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our top two firms also made Forbes\u2019 regional ranking:<\/strong> CIB came in at 51 in Forbes\u2019 ranking of companies in the MENA region, while QNB Alahli was at 89. Topping the ranking were Saudi Aramco, Saudi National Bank, and the UAE\u2019s International Holding Company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out the full local list <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/egypts-top-50-listed-companies-2024\/\" style=\"\" rel=\"noopener\">here<\/a><\/strong> <strong> and the <\/strong><strong>regional <\/strong><strong>list <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-listed-companies-2024\/\" style=\"\" rel=\"noopener\">here<\/a><\/strong><strong>.<\/strong><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/forbes\/\">Forbes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hsbc\/\">HSBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qnb-alahli\/\">QNB Alahli<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"623952 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=\"623952\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/623952\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623952\" class=\"content-area-description single-story post-623952 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/186.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"623953\" 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=\"623953\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/no-blackouts-during-the-eid-break\/\">\r\n                            No blackouts during the Eid break?                        <\/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\/13\/no-blackouts-during-the-eid-break\/\" 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\/13\/no-blackouts-during-the-eid-break\/')\">\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\/13\/no-blackouts-during-the-eid-break\/\">\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=No blackouts during the Eid break?&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/no-blackouts-during-the-eid-break\/\">\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\/13\/no-blackouts-during-the-eid-break\/&title=No blackouts during the Eid break?\">\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=No+blackouts+during+the+Eid+break%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F13%2Fno-blackouts-during-the-eid-break%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\/13\/no-blackouts-during-the-eid-break\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1236.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"623954\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/no-blackouts-during-the-eid-break\/1236-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1236.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1236.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1236.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1236.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623953\" class=\"content-area-description single-story post-623953 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-electricity 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\/.61ed1312-2291-46e1-ae5d-6a29564a2717.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>It was a mixed bag on the airwaves last night<\/strong>, with news that the government may pause rolling blackouts for Eid El Adha and the risk of an all out war between Lebanon\u2019s Hezbollah and Israel catching the attention of the nation\u2019s talking heads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The lights<\/strong><strong> to stay on during Eid?<\/strong> \u201cThe electricity load-shedding plan will be suspended during the Eid holiday,\u201d Sherif Amer said on Yahduth Fi Masr, citing unnamed sources (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1703826180362276\" style=\"\" rel=\"noopener\">watch, runtime: 0:37<\/a>). He added that no official statement has been issued yet and that the suspension would start on Thursday. Cabinet spokesperson Mohamed Homsani also chimed in to tell Ahmed Moussa that \u201cif [such] a decision is made, it will be announced immediately\u201d (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/AhmedMoussaEG\/videos\/459719206798353\" style=\"\" rel=\"noopener\">watch, runtime: 1:58<\/a>) The government is \u201cseeking to increase the Electricity Holding Company\u2019s revenue streams [to be able] to end load shedding by the end of this year,\u201d Homsani added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe<\/strong> <strong>Lebanese front is more dangerous than the Gaza front,\u201d <\/strong>military strategist and commentator Samir Ragheb told Amer over the phone (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=wg2kppub6PQ\" style=\"\" rel=\"noopener\">watch, runtime: 6:33<\/a>). Ragheb explained that \u201cHezbollah will not start a full-scale war with Israel to avoid American support for Israel, while Israel hopes Hezbollah will start a full-scale war to gain American backing.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cIf the situation continues like this, we might see a repeat of the 2006 scenario in<\/strong><strong> Lebanon<\/strong>, with Israel potentially imposing collective punishment on the Lebanese people,\u201d Ragheb warned. Tensions on Israel\u2019s border with Lebanon was also a hot topic on Lobna Assal\u2019s Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=RMlE0RCgm0s\" style=\"\" rel=\"noopener\">watch, runtime: 8:26<\/a>).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/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                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         class=\"\r\n                story-section            \"\r\n            id=\"623956\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/foreign-investors-are-back-to-loving-our-once-unloved-local-debt\/\">\r\n                            Foreign investors are back to loving Egypt\u2019s once-unloved 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 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            \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\/13\/foreign-investors-are-back-to-loving-our-once-unloved-local-debt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1224.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"623957\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/foreign-investors-are-back-to-loving-our-once-unloved-local-debt\/1224-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1224.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1224.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1224.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1224.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623956\" class=\"content-area-description single-story post-623956 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-debt-watch tag-economy tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.ee5aaff8-8ff9-4b33-b13a-a3da741bc989.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A comeback story: <\/strong>Egypt joins Pakistan, Nigeria, and Kenya as one of the once-unloved emerging markets that \u201clured\u201d investors back into their local debt instruments with higher interest rates and liberalized exchange rates, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/47cd6c6e-e9aa-41af-abc3-5a7dd44d0be2\" style=\"\" rel=\"noopener\">Financial Times<\/a> writes. <strong>Egypt saw investors pour<\/strong><strong> some USD 15 bn into local bonds this year<\/strong>, the majority of which came following the announcement of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0b97fcf-95b0-4d39-86ae-0a4989221520\" style=\"\" rel=\"noopener\">Ras El Hekma<\/a> agreement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re still well off our peak: <\/strong>Foreign investors currently hold about one-tenth of our local debt \u2014 up from their 2022 lows, but still well below their peak in 2021, according to the FT.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It doesn\u2019t come cheap: <\/strong>Egypt, Nigeria, and Pakistan are expected to spend over a third of their revenues on debt interest payments by 2028. On top of this, they could be forced to keep their interest rates elevated if the US doesn\u2019t start cutting rates soon, keeping the cost of debt high. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Earlier than usual heatwaves in Egypt have caught the attention of the foreign<\/strong><strong> press<\/strong>, with <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/features\/2024-06-12\/egypt-early-heat-wave-is-ominous-warning-for-economies-trade?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reporting on how the country is heating up twice as fast as the rest of the world. As a \u201cbellwether for the effects of climate change,\u201d crop failure, heat-related deaths, and power cuts in Egypt offer a warning of what may be in line for other nations in summers to come.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"623958\" 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=\"623958\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/ebrd-mull-funding-masdar-infinity-wind-farm-plus-simplex-to-open-new-factory-usaid-banque-misr\/\">\r\n                            EBRD mull funding Masdar-Infinity wind farm. PLUS: Simplex to open new factory, USAID + Banque Misr                        <\/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\/13\/ebrd-mull-funding-masdar-infinity-wind-farm-plus-simplex-to-open-new-factory-usaid-banque-misr\/\" 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\/13\/ebrd-mull-funding-masdar-infinity-wind-farm-plus-simplex-to-open-new-factory-usaid-banque-misr\/')\">\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\/13\/ebrd-mull-funding-masdar-infinity-wind-farm-plus-simplex-to-open-new-factory-usaid-banque-misr\/\">\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=EBRD mull funding Masdar-Infinity wind farm. PLUS: Simplex to open new factory, USAID + Banque Misr&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/ebrd-mull-funding-masdar-infinity-wind-farm-plus-simplex-to-open-new-factory-usaid-banque-misr\/\">\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\/13\/ebrd-mull-funding-masdar-infinity-wind-farm-plus-simplex-to-open-new-factory-usaid-banque-misr\/&title=EBRD mull funding Masdar-Infinity wind farm. PLUS: Simplex to open new factory, USAID + Banque Misr\">\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=EBRD+mull+funding+Masdar-Infinity+wind+farm.+PLUS%3A+Simplex+to+open+new+factory%2C+USAID+%2B+Banque+Misr+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F13%2Febrd-mull-funding-masdar-infinity-wind-farm-plus-simplex-to-open-new-factory-usaid-banque-misr%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\/13\/ebrd-mull-funding-masdar-infinity-wind-farm-plus-simplex-to-open-new-factory-usaid-banque-misr\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2539.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"623959\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/ebrd-mull-funding-masdar-infinity-wind-farm-plus-simplex-to-open-new-factory-usaid-banque-misr\/2539-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2539.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2539.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2539.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2539.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623958\" class=\"content-area-description single-story post-623958 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-banque-misr tag-debt tag-ebrd tag-enterpriseam tag-infinity tag-infinity-power tag-manufacturing tag-masdar tag-renewables tag-simplex tag-usaid tag-wind-power 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\/.1ffba9c3-e1db-4e6d-8da6-b7d8224c5652.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DEBT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>EBRD <\/strong><strong>weigh backing Masdar-Infinity wind farm:<\/strong> The European Bank for Reconstruction and Development (EBRD) is mulling over extending a USD 71.7 mn senior loan to finance a 200 MW wind farm in Ras Ghareb developed and operated by the UAE\u2019s Masdar and Infinity Power, according to the lender\u2019s <a target=\"_blank\" href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/53097.html\" style=\"\" rel=\"noopener\">project description<\/a>. The USD 214.8 mn project will sell electricity to the national grid under a long-term power purchase agreement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Simplex to open a new factory next year:<\/strong> Local industrial machinery manufacturer <a target=\"_blank\" href=\"https:\/\/www.simplexarabia.com\/en\/home\" style=\"\" rel=\"noopener\">Simplex<\/a> is planning to open its EGP 100 mn factory in Tenth of Ramadan City in May 2025, the company\u2019s CEO Ahmed Shaaban told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%b3%d9%8a%d9%85%d8%a8%d9%84%d9%83%d8%b3-%d8%aa%d8%b9%d8%aa%d8%b2%d9%85-%d8%a7%d9%81%d8%aa%d8%aa%d8%a7%d8%ad-%d9%85%d8%b5%d9%86%d8%b9-%d8%a7%d9%84%d8%b9%d8%a7%d8%b4%d8%b1-%d9%85%d9%86\/\" style=\"\" rel=\"noopener\">Al Mal<\/a>. The new factory will ramp up the company\u2019s production of CNC machines 150 units a month, up from its current volume of 40 units a month, Shaaban explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CNC machines?<\/strong> A CNC machine \u2014 short for computer numerical control machine \u2014 is a computer-controlled piece of machinery used in industry to cut and shape materials. CNC machines are good at dealing with complex and precise designs and repetitive tasks, making them an important tool in the manufacture of high-precision parts. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TRADE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An accelerator to boost exports:<\/strong> State-run lender Banque Misr inked a cooperation protocol with the USAID\u2019s Trade Reform and Development in Egypt (TRADE) program yesterday, to set up the Egypt Export Accelerator, in a bid to improve trade and ramp up investments, by backing local exporters, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1209.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The accelerator is poised to improve Egyptian companies\u2019 competitiveness in foreign markets by helping them diversify their export products and facilitate access to financing and entry to international markets.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infinity\/\">Infinity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infinity-power\/\">Infinity Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/masdar\/\">Masdar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/simplex\/\">Simplex<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/usaid\/\">USAID<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wind-power\/\">wind power<\/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=\"623960\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"623960\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/us-inflation-slips-in-may-boosting-hopes-of-more-rate-cuts-this-year-despite-policymakers-signaling-one-rate-cut\/\">\r\n                            US inflation slips in May, boosting hopes of more rate cuts this year despite policymakers signaling one rate cut                        <\/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\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2010.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"623961\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/us-inflation-slips-in-may-boosting-hopes-of-more-rate-cuts-this-year-despite-policymakers-signaling-one-rate-cut\/2010-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2010.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2010.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2010.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2010.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623960\" class=\"content-area-description single-story post-623960 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-ey tag-financial-markets tag-inflation tag-interest-rates tag-planet-finance tag-saudi-arabia tag-tax tag-us-federal-reserve 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\/.369f8729-7c5f-4b1b-87e5-7e1a0430c571.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A handful of stories are competing for attention on planet finance<\/strong>, including US inflation figures \u2014 and the Fed\u2019s decision to hold rates steady \u2014 and EY\u2019s UK boss\u2019 resignation. Closer to home, Saudi Arabia could be mulling changes to its tax regime to attract foreign investors to its local debt markets. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- US consumer prices remained unchanged in May<\/strong>, driven by lower gasoline prices offsetting higher costs for rental housing, according to the <a target=\"_blank\" href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\" style=\"\" rel=\"noopener\">US Labor Department<\/a>. This is down from a 0.3% increase in April. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The positive inflation reading boosted hopes for two rate cuts this year,<\/strong> one in September and another in December, despite policymakers indicating just a single rate cut in December in the Fed\u2019s dot plot, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/us-consumer-prices-flat-may-defying-expectations-slight-rise-2024-06-12\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. On the bright side, 2025 is expected to see four rate cuts \u2014 amounting to a 100 bps cut. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US Federal Reserve kept its benchmark federal funds rate steady<\/strong> at a 5.25% to 5.5% range at yesterday\u2019s meeting. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- CLOSER TO HOME- Is KSA mulling easing taxes to lure foreign investments in local <\/strong><strong>debt?<\/strong> The Saudi Capital Market Authority (CMA) is considering eliminating a 5% withholding tax on interest payments for debt instruments, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1208.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a> outlining a strategy to develop the Kingdom\u2019s debt capital market. The potential tax change is one of several proposals on the table to help attract foreign investors to local corporate bonds. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The pitch:<\/strong> The withholding is \u201cunattractive and discouraging for foreign institutional investors,\u201d the CMA said in its report. The regulator will also look into easing requirements for debt offerings to encourage local issuances and work on facilitating trading, settlement and clearing of foreign-currency denominated debt instruments by local companies. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale:<\/strong> The Saudi debt capital market is still nascent, particularly when compared to the equity market, which \u201chas been a point of strength\u201d in Saudi \u201cthanks in part to a thriving environment for initial public offerings,\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-12\/saudis-may-ease-tax-rules-to-boost-appeal-of-bonds-to-foreigners?srnd=markets-vp&amp;embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> notes. Our friend EFG Hermes Head of Research Ahmed Shams El Din also told EnterpriseAM Saudi <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4bcd3720-29a6-4af8-bd2d-4f648523c1e2\/asset-managers-underweighting-saudi-are-missing-the-boat\" style=\"\" rel=\"noopener\">earlier this year<\/a> that the \u201cdark horse in Saudi Arabia is debt capital markets,\u201d which are still lagging behind most emerging markets. A lacking debt capital market will make \u201cthe hype\u201d on equity capital markets \u201cnot sustainable,\u201d he told us.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- EY\u2019s UK\u2019s head Hywel Ball handed in his resignation, <\/strong>setting off a leadership race while the Big Four firm navigates a market downturn, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/30a7bdb2-ecf5-4928-b741-b2552c6b0351\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports, citing an email it has seen. Ball \u2014 who has helmed EY UK since 2020 and was handed a second tenure extension in <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/279714b5-9c57-4c5e-abc5-9e49769992f3\" style=\"\" rel=\"noopener\">January<\/a> \u2014 wrote in the email that it was time to \u201chand the baton\u201d to new leadership, with the internal selection process slated to be kicked off in 2H 2024, EY said in a statement. <\/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>Asian markets are rallying<\/strong> on news of the Fed keeping interest rates unchanged and gains in EV stocks in Hong Kong. Wall Street futures also rose, indicating a continued strong streak for US benchmarks this week. <\/p><p><a target=\"_blank\" id=\"t.b57b1b3cd1f4fe91af793d620e73e94f0246a260\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-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\">26,133<\/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: +5.0%)<\/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 47.64<\/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 47.64<\/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 47.74<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,652<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.1% (YTD: -2.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,930<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: -6.8%)<\/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\">3,979<\/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: -2.0%)<\/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>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\">5,421<\/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: +13.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,215<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8% (YTD: +6.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,034<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.4% (YTD: +11.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 82.60<\/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\">+0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.03<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,338.60<\/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\">-0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 68,208.00<\/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\">+1.5% (YTD: +61.1%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 0.2% at yesterday\u2019s close<\/strong> on turnover of EGP 2.0 bn (57% below the 90-day average). Foreign investors were net sellers. The index is up 5.0% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Delta Sugar (+3.5%), Orascom Construction (+3.4%), and Beltone Holding (+3.3%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Eastern Company (-3.7%), Palm Hills Developments (-1.9%), and EFG Holding (-1.4%). <\/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\/ey\/\">EY<\/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\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us-federal-reserve\/\">US Federal Reserve<\/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=\"623962\" 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=\"623962\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/my-morning-routine-mohamed-abdel-motaleb-vp-of-nba-africa-and-head-of-nba-egypt\/\">\r\n                            Mohamed Abdel Motaleb, VP of NBA Africa and head of NBA Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/my-morning-routine-mohamed-abdel-motaleb-vp-of-nba-africa-and-head-of-nba-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Speaking to us this week is Mohamed Abdel Motaleb (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/mohamedabdelmotteleb\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a>). Edited excerpts from our conversation:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My name is Mohamed Abdel Motaleb, but I\u2019m better known as Tolba.<\/strong> I\u2019m the vice president of National Basketball Association (NBA) Africa and head of NBA Egypt. I'm a civil engineer with an MBA from Maastricht School of Management. I used to play basketball in Al Ittihad Alexandria Club and I was also the captain of the national team. I played in the 1988 Olympic games and the 1990 and 1994 world cups. I then became the Egyptian Basketball Federation vice president, a commission member of the International Basketball Federation (FIBA), and I was the deputy secretary general of the Egyptian Olympic Committee.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My job is leading NBA\u2019s operations in Egypt.<\/strong> I oversee the leagues, the businesses, and the development initiatives \u2014 including grassroots programs and ecosystem development for youth players as well as professional, elite players. A lot of our programs are youth-focused and focus on scouting talent for Egypt\u2019s national team and for our sporting programs. I\u2019m also responsible for our relationship with current and potential media and merchandise partners, as well as everything related to social responsibility. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NBA first came to Africa in 2010 and set up an office in South Africa as part of its<\/strong> <strong>global expansion. <\/strong>Then in 2019, the NBA decided to officially launch NBA Africa as a company with a market value of almost USD 1 bn, focusing on developing the ecosystem and improving programs in Africa, scouting talent, and growing the business in terms of sponsorships and marketing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Operating in Africa comes with a list of challenges.<\/strong> The main challenges are the lack of accessibility for the game, the insufficient number of players and participants, as well as the general lack of resources and infrastructure in Africa as a whole. We lack the arenas, the courts, the basketballs \u2014 all the tools and equipment needed for the game. We\u2019re also very much a football continent, in terms of both viewership and fans as well as players. Our mission is to try to increase the fandom and interest in the game as well. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt is a little different:<\/strong> The ecosystem is there, the infrastructure is developed, the tools to increase the number of players are there. What remains is the awareness, the fandom, and the love for the game \u2014 that\u2019s what we\u2019re trying to work on by making the game more popular, and making it more accessible for people. NBA Egypt is also the only office in North Africa and the only one for Arab-speaking African countries. In that sense, it can function as the hub for Arab-speaking countries in the continent.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We recently started a league in West Cairo that\u2019s specifically for non-registered players <\/strong>\u2014 so, anyone who wants to play basketball. We received around 1.6k requests for participation and we found a lot of talented players that the big clubs are now trying to sign. We also started Egypt\u2019s first junior NBA tournament in schools with participation from 17 schools. We\u2019re trying to increase the number of talented players that ultimately can join the national team, clubs, and our programs. We would love to see another Mo Salah, but in basketball. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>First thing I do in the morning is go to the gym.<\/strong> I do that three days a week, right before I go to work. I think it\u2019s essential to stay in shape and to mentally prepare for the day\u2019s work. Once I\u2019m at my desk, I start catching up on all the news \u2014 with EnterpriseAM being one of my main sources of information. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The one constant in my workday is watching NBA highlights<\/strong> the second I\u2019m in the office. I also regularly read articles about the technical side of the game. The other constant, of course, is my family. The most important thing for me is the late night chats with my children before bed time. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s a saying that goes \u201cif you do what you love, you\u2019ll never work a day in your life.\u201d<\/strong> I\u2019m doing the thing that I\u2019ve been loving since I was 12, almost 40 years ago. For me, it\u2019s never a work day \u2014 I\u2019m chasing my dreams. It\u2019s been incredible joining the NBA and it never feels like work. More importantly, my whole family is also involved in basketball. My two kids are players in the national team and my wife is following suit \u2014 we all talk about basketball, both as a business and as a career path for my children. In that sense, the work-life balance is almost automatic.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a personal level, I hope I can see my children play in the Olympic games<\/strong>, representing Egypt \u2014 hopefully in the 2028 or the 2032 games. They\u2019re very keen on improving and playing for the national team on a professional level. Professionally speaking, I want basketball to become the most popular sport in the world. Our dream is that when a kid sees a ball, instead of kicking the ball, they would dribble it instead. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019d recommend three books \u2014 two on business and one about basketball.<\/strong> <a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/book\/show\/4898.Blue_Ocean_Strategy\" style=\"\" rel=\"noopener\">Blue Ocean<\/a><a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/book\/show\/4898.Blue_Ocean_Strategy\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/book\/show\/4898.Blue_Ocean_Strategy\" style=\"\" rel=\"noopener\">Strategy<\/a> and <a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/book\/show\/76865.Good_to_Great\" style=\"\" rel=\"noopener\">Good to Great<\/a> are two of my favorite business books. I\u2019d also recommend <a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/book\/show\/16158522-eleven-rings\" style=\"\" rel=\"noopener\">Eleven Rings<\/a> by the legendary Phil Jackson. I also recommend watching The Last Dance, a documentary following basketball legend Michael Jordan\u2019s final season.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I also highly recommend people watch the NBA Africa-produced docu-series <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.nba.com\/watch\/list\/collection\/nba-africa-born-bred\" style=\"\" rel=\"noopener\">Born and<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.nba.com\/watch\/list\/collection\/nba-africa-born-bred\" style=\"\" rel=\"noopener\"><\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.nba.com\/watch\/list\/collection\/nba-africa-born-bred\" style=\"\" rel=\"noopener\">Bred<\/a><\/strong>, which follows our players in the NBA academy across the continent. Last year, it had an episode all about <a target=\"_blank\" href=\"https:\/\/www.nba.com\/watch\/video\/episode-3-from-generation-to-generation?plsrc=nba&amp;collection=nba-africa-born-bred\" style=\"\" rel=\"noopener\">Seifeldin Hendawy<\/a>, one of the most talented Egyptian players. It\u2019s available to watch on the NBA website for free.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My favorite quote<\/strong>, which comes from Michael Jordan, is \u201cA failure is not always a mistake. It may simply be the best one can do under the circumstances. The real mistake is to stop trying.\u201d It\u2019s something I try to live by everyday.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-tolba\/\">Mohamed Tolba<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"623964\" 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\/13\/623964\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-623964\" class=\"content-area-description single-story post-623964 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 style=\"font-weight:400;\">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>10-11 July (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0DcrwZTxB6cn64npMMrroZYZmhRyJNHjK3hVrWxuo7DDXXETR8mqBnTAsF21CutYul\" style=\"\">The Japan-Arab Economic Forum<\/a><\/span><span style=\"font-weight:400;\">, Tokyo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16-17 July (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egyptminingforum.com\/\" style=\"\">The Egypt Mining Forum<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">18 July (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23 July (Tuesday): Revolution Day (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4-5 August (Monday-Tuesday): Egypt Expat Forum.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-5 September (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.airport-technology.com\/sponsored\/dates-announced-for-egypt-international-airshow-2024\/\" style=\"\">Egypt International Airshow<\/a><\/span><span style=\"font-weight:400;\">, El Alamein International Airport.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 September (Sunday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25-26 September (Wednesday-Thursday): The Asian Infrastructure Investment Bank\u2019s (AIIB) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aiib.org\/en\/news-events\/events\/annual-meetings\/2024\/index.html\" style=\"\">2024 annual meeting<\/a><\/span><span style=\"font-weight:400;\">, Samarkand, Uzbekistan.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 October (Sunday): Armed Forces Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17 October (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-17 October (Sunday-Thursday): Cairo Water Week, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cairowaterweek.eg\/\" style=\"\">Water and Climate: Building Resilient Communities<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-27 October (Monday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.imfconnect.org\/content\/imf\/en\/annual-meetings\/FutureMeetings.html\" style=\"\">The World Bank and IMF annual meetings<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-8 November (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/wuf.unhabitat.org\/\" style=\"\">World Urban Forum<\/a><\/span><span>, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypt-energy.com\/en\/home.html\" style=\"\">Egypt Energy Show<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>June 2024: Gov\u2019t expects to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/news\/story\/cfdc99d8-291f-4b7c-8af8-8e1cccc74de5\" style=\"\">finalize sale<\/a><\/span><span style=\"font-weight:400;\"> of Beni Suef combined-cycle power plant.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1H 2024: Gov\u2019t expects to finalize sale of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/317bf16c-ec16-489f-ac56-05ad40a04693\/another-usd-820-mn-coming-our-way-from-the-imf\" style=\"\">four water desalination plants<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2H 2024: Gov\u2019t to launch the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8f7fd9b9-a159-4b31-b974-f809d55f55d9\/egyptian-telecom-providers-suspend-e-wallet-fx-payments\" style=\"\">Cairo Ring Road BRT buses<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3Q 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid04Z7JWbGbYGqFTr8kF2XNgc5Dq2cUR3hn25JDryhDjLnPJkYgaKaqbwzQr6A4QgB2l\" style=\"\">Egyptian-Armenian Joint Committee.<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>November 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LLPJRjsu6SZLwtRHuLmCQxoAZB3xaXVXH8aYkMSEH3ae4aW6JCZaPe5h5u9nKmcRl\" style=\"\">Egypt to host<\/a><\/span><span style=\"font-weight:400;\"> the World Urban Forum (WUF12).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2024: The launch of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sis.gov.eg\/Story\/192175\/Trial-Operation-of-the-Sokhna-El-Alamein-Matrouh-High-Speed-Train-Starts-by-the-End-of-this-Year?lang=en-us\" style=\"\">high-speed train<\/a><\/span><span style=\"font-weight:400;\"> line linking Ain Sokhna with Al Alamein City. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2024: Shalateen Mining Company to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/74373364-7f95-4157-9090-67ee1584c341\/nuca-to-hand-out-plots-to-four-industrial-developers-within-days.-plus:-news-from-bluev,-tmg,-and-tabreed\" style=\"\">launch a gold exploration tender<\/a><\/span><span style=\"font-weight:400;\"> in the Eastern Desert.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2Q 2025: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad18b775-3e22-4e6b-b4fc-9dd30f4b85ad\/abu-dhabi-ports-to-build-and-run%253cmark%253e-safaga-terminal%253c%2Fmark%253e,-cruise-ship-infrastructure\" style=\"\">Safaga Terminal 2<\/a><\/span><span> to start operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20 January-7 February: Egypt to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f9a5a94-cc1c-4fc1-b8c6-7c02d15cae3b\/ramadan-kareem\" style=\"\">host the African Games<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2027: Trial operations at the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52aa0e65-5b6f-4c84-aa49-70ac4152bb87\" style=\"\">Dabaa nuclear power plant<\/a><\/span><span style=\"font-weight:400;\"> expected to take place.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Port investments galore | World Bank keeps Egypt\u2019s GDP forecasts steady | Say hello to the EGX33 | Egyptian debt back in fashion<\/p>\n","protected":false},"featured_media":623939,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-623938","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"2fba3339-70f2-477d-86ff-6982ae4c6750","teaser":"Port investments galore | World Bank keeps Egypt\u2019s GDP forecasts steady | Say hello to the EGX33 | Egyptian debt back in fashion","photo_url":"https:\/\/ent.news\/2024\/1\/191.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>No blackouts during the Eid break? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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