{"id":624113,"date":"2024-06-24T00:00:00","date_gmt":"2024-06-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=624113"},"modified":"2025-12-17T07:48:37","modified_gmt":"2025-12-17T07:48:37","slug":"the-usd-rises-above-the-48-egp-mark-for-the-first-time-since-april","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/the-usd-rises-above-the-48-egp-mark-for-the-first-time-since-april\/","title":{"rendered":"The USD rises above the 48 EGP mark for the first time since April"},"content":{"rendered":"<section id=\"624115\" 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=\"624115\">\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\/24\/usd-trades-above-the-egp-48-mark-for-first-time-since-april\/\">\r\n                            USD trades above the EGP 48 mark for first time since April                        <\/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\/24\/usd-trades-above-the-egp-48-mark-for-first-time-since-april\/\" 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\/24\/usd-trades-above-the-egp-48-mark-for-first-time-since-april\/')\">\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\/24\/usd-trades-above-the-egp-48-mark-for-first-time-since-april\/\">\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=USD trades above the EGP 48 mark for first time since April&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/usd-trades-above-the-egp-48-mark-for-first-time-since-april\/\">\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\/24\/usd-trades-above-the-egp-48-mark-for-first-time-since-april\/&title=USD trades above the EGP 48 mark for first time since April\">\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=USD+trades+above+the+EGP+48+mark+for+first+time+since+April+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F24%2Fusd-trades-above-the-egp-48-mark-for-first-time-since-april%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\/24\/usd-trades-above-the-egp-48-mark-for-first-time-since-april\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1408.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"624116\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/usd-trades-above-the-egp-48-mark-for-first-time-since-april\/1408-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1408.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1408.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1408.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1408.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-624115\" class=\"content-area-description single-story post-624115 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-currencies tag-enterpriseam tag-foreign-exchange 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\/.b3c6edab-e07d-40e3-b723-d00722d771f7.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends<\/strong><strong>. <\/strong>It seems that a lot of us are still in holiday mode, with the flow of local business news yet to properly pick up after the Eid Al Adha break. Nevertheless, we\u2019ve got a surprisingly packed issue for you today, with the nation\u2019s talking heads\u2019 responses to the decision to temporarily extend power cuts, capital markets news, M&amp;A news, and much more for you to read through this morning.<\/p><p class=\"tag-border-left\">FX WATCH-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>The <\/strong><strong>USD rose above 48 EGP fo<\/strong><strong>r the first time since April, <\/strong>jumping by around EGP 0.70 yesterday. The rate settled at EGP 48.20 by the end of the day at the <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/ar\/economic-research\/statistics\/exchange-rates\" style=\"\" rel=\"noopener\">Central Bank of Egypt<\/a> and other local lenders.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T<\/strong><strong>he weakening of the EGP against the greenback could be due to a pile up of orders for hardcash <\/strong>after Egyptian banks shut their doors for the Eid Al Adha break, Al Arabiya Business\u2019 Fahima Zayed noted (<a target=\"_blank\" href=\"https:\/\/x.com\/AlArabiyaBN_EG\/status\/1804840628854878698\" style=\"\" rel=\"noopener\">watch, runtime: 1:55<\/a>). Economist Mustafa Badra pointed to investors settling their positions ahead of the fiscal year end as one of the reasons behind the sudden increase of FX prices yesterday, ruling out that similar increases would happen in the coming days (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=FA05HLx2zks\" style=\"\" rel=\"noopener\">watch, runtime: 4:56<\/a>).<\/p><p class=\"tag-border-left\">AT THE BOURSE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>EGX30 logged its bigg<\/strong><strong>est gains in more than a month at yesterday\u2019s close<\/strong>, rising 2.4% to finish its fifth consecutive session in the green. The volley of gains has now brought the index up 8.7% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some are hopeful that the trend will continue: <\/strong>El Suk Brokerage board member Mohamed Atta told CNBC Arabia he expects the EGX30 to reach new highs in the third quarter of the year on the back of the \u201dlow market value of shares and their good financial performance\u201d (<a target=\"_blank\" href=\"https:\/\/x.com\/i\/broadcasts\/1YqGoDvXAMaJv\" style=\"\" rel=\"noopener\">watch, runtime: 11:42<\/a>).<\/p><p class=\"tag-border-left\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s another hot day in Cairo today,<\/strong> with a high of 39\u00b0C and a low of 28\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>As usual, it\u2019s a little cooler over in Alexandria<\/strong>, with a high of 33\u00b0C and a low of 24\u00b0C.<\/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>** 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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing, we looked at what kinds of policies industry would like to see from the soon-to-be-announced new government. Enterprise spoke with several industry players, who shed light on what areas the government should prioritize amid ongoing global and regional challenges impacting Egyptian industry. You can check out the story <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2ee59d92-bc50-4523-a5db-bfdec67cc149\/%253cmark%253ea%253c%2Fmark%253e%253cmark%253e-new%253c%2Fmark%253e-government-spells%253cmark%253e-new%253c%2Fmark%253e-policy,-and%253cmark%253e-the%253c%2Fmark%253e%253cmark%253e-industrial%253c%2Fmark%253e-sector-has-thoughts\" style=\"\" rel=\"noopener\">here<\/a>.<\/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=\"wwtt3\"><\/a> <strong>#1- The third <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.chicagobooth.edu\/executiveeducation\/programs\/management\/executive-program-el-gouna\" style=\"\" rel=\"noopener\">Chicago Booth Executive Program<\/a><\/strong><strong> has <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MPEDEGYPT\/posts\/pfbid02smMXrcph6ZigYs4SmZZ4AnpPc6HRmgn4MfvqgQvDZprmZYrjsUMEfti2Cbhau5z6l\" style=\"\" rel=\"noopener\">kicked off<\/a><\/strong><strong> in El Gouna:<\/strong> The two-week session runs from 22 June until 5 July and will offer executives from the Egyptian public and private sectors the skills to help them \u201cbecome better leaders for their organization and support Egypt\u2019s growth in the years ahead.\u201d<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#2- Attention, green-minded investors:<\/strong> Financial Regulatory Authority head Mohamed Farid will be giving the keynote address at the British Egyptian Business Association\u2019s (BEBA) upcoming seminar on the upcoming voluntary carbon market at the Conrad Cairo Hotel on Tuesday 9 July. Check out the details <a target=\"_blank\" href=\"https:\/\/beba.org.eg\/events\/keynote-address-on-voluntary-carbon-market-from-pledges-to-implementation-with-h-e-dr-mohamed-farid-saleh-executive-chairman-financial-regulatory-authority-fra\/\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expect a big week of politics to dominate headlines in the global business press<\/strong>, though AI and the stock market (is a correction finally in the cards?) aren\u2019t going anywhere anytime soon. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Elections will be the big theme, with three televised debates setting up a high-stakes <\/strong><strong>week <\/strong>for incumbents on both sides of the pond:<\/p><ul>\n<li>French Prime Minister <strong>Gabriel Attal<\/strong> takes on his top right- and left-wing challengers on <strong>Tuesday<\/strong>;<\/li>\n<li>Across the Channel, sitting Prime Minister <strong>Rishi Sunak<\/strong> goes head-to-head with Labour\u2019s Keir Starmer in a leaders\u2019 debate on the BBC this <strong>Wednesday<\/strong>;<\/li>\n<li><strong>Joe Biden<\/strong> takes on Donald Trump this Thursday in the first of two <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/elections\/trump-biden-debate-lessons-rematch-38dedfae\" style=\"\" rel=\"noopener\">televised debates<\/a>. (They will meet again on 10 September.)<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>French voters go to the polls in snap parliamentary elections this coming Sunday<\/strong> \u2014 <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0aadcd8a-bbeb-4003-8ed1-a4750a9a1604\" style=\"\" rel=\"noopener\">an<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0aadcd8a-bbeb-4003-8ed1-a4750a9a1604\" style=\"\" rel=\"noopener\">FT poll<\/a> suggests voters trust the right-wing Rassemblement National more on the economy than they do Emmanuel Macron\u2019s centrist bloc. <strong>And voters in Iran follow <\/strong><strong>suit this<\/strong><strong> Friday<\/strong>, casting their votes for a new president. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HEAT is also <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2128054\" style=\"\" rel=\"noopener\">in the headlines<\/a><\/strong> after Saudi Arabia confirmed more than 1.3k pilgrims died during this year\u2019s Hajj \u2014 the vast majority of the deaths were heat-related \u2014 and as much of the US and Canada swelters under a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/heat-wave-scorches-us-east-coast-dangerous-temperatures-expand-west-2024-06-23\/\" style=\"\" rel=\"noopener\">heat dome<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WAR WATCH- Netanyahu says his assault on Gaza will enter a more \u201ctargeted\u201d phase <\/strong><strong>\u201cvery soon.\u201d <\/strong>The Israeli leader was speaking in his <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-23\/netanyahu-says-major-operations-in-gaza-will-end-very-soon\" style=\"\" rel=\"noopener\">first televised interview<\/a> since October of last year. Meanwhile, an Israeli air assault <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israeli-tanks-edge-rafahs-mawasi-refuge-zone-residents-say-2024-06-23\/\" style=\"\" rel=\"noopener\">killed eight people<\/a> at an aid distribution center yesterday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2495.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue:<\/strong> We look at how adult education programs are training up Egypt\u2019s workforce to adapt to and hopefully thrive in an ever-changing economy. <\/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\/currencies\/\">currencies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/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=\"624117 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=\"624117\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/624117\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-624117\" class=\"content-area-description single-story post-624117 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\/1427.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Celebrate<\/span><span style=\"font-weight:700\"> World Ocean Month<\/span><span style=\"font-weight:700\"> with Somabay: <\/span><span>Throughout this month, join us for a series of ocean awareness activities designed to engage our community in the importance of protecting our oceans and reefs. Participate in an intro to freediving, tridacna planting, community workshops, guided snorkeling tours, Kompass educational programs and workshops, ocean clean-up dives, beach cinema with ocean documentaries, and glass boat tours for coral and fish identification.<\/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=\"624118\" 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=\"624118\">\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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/beltone-to-introduce-four-new-funds-with-an-upgraded-investment-platform-in-the-next-quarter-beltones-khalil-al-bawab-tells-enterprise\/\">\r\n                            Beltone to introduce four new funds with an upgraded investment platform in the next quarter, Beltone\u2019s Khalil Al Bawab tells Enterprise                        <\/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\/24\/beltone-to-introduce-four-new-funds-with-an-upgraded-investment-platform-in-the-next-quarter-beltones-khalil-al-bawab-tells-enterprise\/\" 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\/24\/beltone-to-introduce-four-new-funds-with-an-upgraded-investment-platform-in-the-next-quarter-beltones-khalil-al-bawab-tells-enterprise\/')\">\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\/24\/beltone-to-introduce-four-new-funds-with-an-upgraded-investment-platform-in-the-next-quarter-beltones-khalil-al-bawab-tells-enterprise\/\">\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=Beltone to introduce four new funds with an upgraded investment platform in the next quarter, Beltone\u2019s Khalil Al Bawab tells Enterprise&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/beltone-to-introduce-four-new-funds-with-an-upgraded-investment-platform-in-the-next-quarter-beltones-khalil-al-bawab-tells-enterprise\/\">\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\/24\/beltone-to-introduce-four-new-funds-with-an-upgraded-investment-platform-in-the-next-quarter-beltones-khalil-al-bawab-tells-enterprise\/&title=Beltone to introduce four new funds with an upgraded investment platform in the next quarter, Beltone\u2019s Khalil Al Bawab tells Enterprise\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Beltone+to+introduce+four+new+funds+with+an+upgraded+investment+platform+in+the+next+quarter%2C+Beltone%E2%80%99s+Khalil+Al+Bawab+tells+Enterprise+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F24%2Fbeltone-to-introduce-four-new-funds-with-an-upgraded-investment-platform-in-the-next-quarter-beltones-khalil-al-bawab-tells-enterprise%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\/24\/beltone-to-introduce-four-new-funds-with-an-upgraded-investment-platform-in-the-next-quarter-beltones-khalil-al-bawab-tells-enterprise\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1434.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"624119\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/beltone-to-introduce-four-new-funds-with-an-upgraded-investment-platform-in-the-next-quarter-beltones-khalil-al-bawab-tells-enterprise\/1434-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1434.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1434.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1434.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1434.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-624118\" class=\"content-area-description single-story post-624118 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-beltone-holding tag-capital-markets tag-enterpriseam tag-khalil-el-bawab 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\/.e9393ff8-de88-4731-979e-8f3efe735136.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Beltone Holdin<\/strong><strong>g is revam<\/strong><strong>ping its Beltone Trading App into an investment fund platform<\/strong><strong> with a new fully digital onboarding process,<\/strong> Beltone Holding Local and Regional Markets CEO Khalil El Bawab (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/khalil-el-bawab-8770311\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) told Enterprise. Beltone aims to introduce the new process in the next quarter and is planning to apply for approval from the Financial Regulatory Authority (FRA) in July, El Bawab added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Four new funds incoming: \u201c<\/strong>We have already applied for four new low-, medium-, and high-risk funds, ranging from fixed-income to equity funds,\u201d El Bawab told us. They expect to introduce the new funds along with an upgraded Beltone Trade App in the next quarter, El Bawab added. \u201cWe plan to issue investment certificates at EGP 10 with a minimum subscription of ten certificates to avail access to the market to retail, mass affluent<strong>, <\/strong>affluent, high net worth, and ultra high net worth investors. We are also studying foreign currency mutual funds too.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Beltone is also lining up for the EGX33:<\/strong> \u201cWe have applied with the FRA for a new fund tracking the newly-introduced EGX33 Shariah index, and we hope to launch it in the next quarter,\u201d El Bawab said. He added that the shariah-compliant product will be the first of many from Beltone and explained that \u201cby having a respectable shariah board, I believe we will be able to come up with proper shariah products.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And a revamped app is also in the works: \u201c<\/strong>We are upgrading the infrastructure, and will sign an agreement with one of the renowned regional system providers in the coming few weeks, which will help us to expedite our digital transformation,\u201d El Bawab said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Selling the need, not the product: <\/strong>\u201cWe are in the business of selling the need, not the product,\u201d El Bawab explained. Beltone\u2019s strategy is \u201cto avail direct via our brokerage arm and indirect access via our asset management arm to the market to clients, so that they can choose from a variety of investment vehicles depending on their investment goals and their risk appetite portfolio. Every client has their own needs and their own risk appetite. Historically most financial institutions have been in the business of selling the product but the world is evolving, and we want to offer them a more customized product.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>Beltone currently has 17 investment funds on its books and a large number of investment portfolios. Beltone\u2019s assets under management reached EGP 27 bn by end of 2023, up from EGP 19.9 bn in 2022, and the company is working to increase this to EGP 50 bn within three years, El Bawab told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Get ready for ChatEGP: \u201c<\/strong>Currently the investment advising is done by humans, we have an investment committee and a buy-side research team that analyze the market and look for opportunities suitable for each client,\u201d El Bawab told us. However, El Bawab explained that, \u201ceventually, we are working to fully automate business processes and to provide full digital channels to reach our clients, that\u2019s why we are investing heavily in the digital infrastructure and expanding our teams.\u201d Beltone also views itself as well-positioned to take this step as they \u201chave one of the strongest data science and analytics teams in the market and our executive management is highly committed to this transformation,\u201d El Bawab added.<\/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\/beltone-holding\/\">Beltone Holding<\/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\/khalil-el-bawab\/\">Khalil El Bawab<\/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=\"624120\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-va6om4m\" data-v=\"4\" data-block-id=\"va6om4m\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-va6om4m-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-va6om4m-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-1z02zur\" data-v=\"4\" data-block-id=\"1z02zur\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-1z02zur-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-1z02zur-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-70krwhz\" data-v=\"4\" data-block-id=\"70krwhz\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-70krwhz-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-70krwhz-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-gztss2u\" data-v=\"4\" data-block-id=\"gztss2u\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-gztss2u-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-gztss2u-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"624121\" 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=\"624121\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/saudi-egyptian-industrial-investment-mulls-reviving-bid-for-state-run-el-nasr-glass-plus-emaar-misr-pushes-forward-acquisition-plans-gtex-holdings-uk-retail-unit-receives-offer\/\">\r\n                            Saudi-Egyptian Industrial Investment mulls reviving bid for state-run El Nasr Glass; PLUS: Emaar Misr pushes forward acquisition plans, GTEX Holding\u2019s UK retail unit receives offer                        <\/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\/24\/saudi-egyptian-industrial-investment-mulls-reviving-bid-for-state-run-el-nasr-glass-plus-emaar-misr-pushes-forward-acquisition-plans-gtex-holdings-uk-retail-unit-receives-offer\/\" 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\/24\/saudi-egyptian-industrial-investment-mulls-reviving-bid-for-state-run-el-nasr-glass-plus-emaar-misr-pushes-forward-acquisition-plans-gtex-holdings-uk-retail-unit-receives-offer\/')\">\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\/24\/saudi-egyptian-industrial-investment-mulls-reviving-bid-for-state-run-el-nasr-glass-plus-emaar-misr-pushes-forward-acquisition-plans-gtex-holdings-uk-retail-unit-receives-offer\/\">\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=Saudi-Egyptian Industrial Investment mulls reviving bid for state-run El Nasr Glass; PLUS: Emaar Misr pushes forward acquisition plans, GTEX Holding\u2019s UK retail unit receives offer&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/saudi-egyptian-industrial-investment-mulls-reviving-bid-for-state-run-el-nasr-glass-plus-emaar-misr-pushes-forward-acquisition-plans-gtex-holdings-uk-retail-unit-receives-offer\/\">\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\/24\/saudi-egyptian-industrial-investment-mulls-reviving-bid-for-state-run-el-nasr-glass-plus-emaar-misr-pushes-forward-acquisition-plans-gtex-holdings-uk-retail-unit-receives-offer\/&title=Saudi-Egyptian Industrial Investment mulls reviving bid for state-run El Nasr Glass; PLUS: Emaar Misr pushes forward acquisition plans, GTEX Holding\u2019s UK retail unit receives offer\">\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=Saudi-Egyptian+Industrial+Investment+mulls+reviving+bid+for+state-run+El+Nasr+Glass%3B+PLUS%3A+Emaar+Misr+pushes+forward+acquisition+plans%2C+GTEX+Holding%E2%80%99s+UK+retail+unit+receives+offer+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F24%2Fsaudi-egyptian-industrial-investment-mulls-reviving-bid-for-state-run-el-nasr-glass-plus-emaar-misr-pushes-forward-acquisition-plans-gtex-holdings-uk-retail-unit-receives-offer%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\/24\/saudi-egyptian-industrial-investment-mulls-reviving-bid-for-state-run-el-nasr-glass-plus-emaar-misr-pushes-forward-acquisition-plans-gtex-holdings-uk-retail-unit-receives-offer\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1439.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"624122\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/saudi-egyptian-industrial-investment-mulls-reviving-bid-for-state-run-el-nasr-glass-plus-emaar-misr-pushes-forward-acquisition-plans-gtex-holdings-uk-retail-unit-receives-offer\/1439-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1439.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1439.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1439.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1439.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-624121\" class=\"content-area-description single-story post-624121 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-emaar-misr tag-enterpriseam tag-fashion tag-foreign-exchange tag-gtex-holding tag-ma-watch tag-metallurgical-industries-holding-company tag-real-estate tag-retail tag-saudi-egyptian-industrial-investment-2 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\/7\/.ee892923-4e44-4e9c-9e2c-2cf3e9880947.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>M&amp;A activity appears to be picking up<\/strong>, with some companies pointing to the new-found stability of the EGP exchange rate against the greenback. <\/p>\n<p class=\"tag-border-left\">SAUDI-EGYPTIAN INDUSTRIAL INVESTMENT REVIVES EL NASR GLASS BID<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi-Egyptian Industrial Investment\u2019s acquisition bid for El Nasr Glass is back on:<\/strong> The Saudi-Egyptian Industrial Investment is considering reviving its bid to acquire a majority stake in the state-owned <a target=\"_blank\" href=\"https:\/\/www.elnasrglass.com\/\" style=\"\" rel=\"noopener\">El Nasr Glass and Crystal Company<\/a>, the company\u2019s CEO Ahmed Ata told <a target=\"_blank\" href=\"https:\/\/hapijournal.com\/2024\/06\/23\/%d8%a7%d9%84%d8%b3%d8%b9%d9%88%d8%af%d9%8a%d8%a9-%d8%a7%d9%84%d9%85%d8%b5%d8%b1%d9%8a%d8%a9-%d8%aa%d8%af%d8%b1%d8%b3-%d8%aa%d8%ac%d8%af%d9%8a%d8%af-%d8%b9%d8%b1%d8%b6-%d8%a7%d9%84%d8%a7\/\" style=\"\" rel=\"noopener\">Hapi<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why now? <\/strong>Ata told the local outlet that the move comes following stability in the exchange rate against the greenback. The company is looking to acquire between 51-70% of the Metallurgical Industries Holding Company subsidiary, but the value of the offer has still not yet been decided on, Ata added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Saudi-Egyptian Industrial Investment <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bd4e09bb-a831-4dcf-b149-0ac5d4932182\" style=\"\" rel=\"noopener\">inked an MoU<\/a> in 2023 with El Nasr Glass\u2019 parent company Metallurgical Industries Holding Company to increase the glass company\u2019s capital and for the investment to be used to add production lines to make glass for solar panels. However, we heard in February that plans were <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/acb5d6a2-0b6e-40c9-a8e8-6db186b3cb9c\" style=\"\" rel=\"noopener\">put on hold<\/a> until the exchange rate stabilizes.<\/p>\n<p class=\"tag-border-left\">EMAAR PUSHES FORWARD ACQUISITION PLANS<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emaar seeks shareholders' blessings for upcoming acquisitions<\/strong>: Emaar Misr will hold an extraordinary general meeting of shareholders on 18 July to secure the green light for its proposed acquisitions of Albro North Coast for Developments and Skytower for Real Estate Development, an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1409.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a> showed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>Emaar Misr <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b663d78c-581d-42e4-9b24-882c98dba3e8\" style=\"\" rel=\"noopener\">submitted<\/a> two non-binding preliminary offers earlier this year to acquire stakes in both companies, after its board greenlit the move. One of the offers would see Emaar Misr acquire up to 75% of additional shares in Albro \u2014 which would give it full ownership of the company \u2014 via a share swap. The other offer would see Emaar Misr acquire a 25% stake in Skytower in an all-cash transaction, with plans to potentially acquire the remaining 75% through a share swap. Both offers were <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e441b562-52f2-4943-9f4e-0b82864516c6\" style=\"\" rel=\"noopener\">approved<\/a> by Albro and Skytower shareholders.<\/p>\n<p class=\"tag-border-left\">GTEX HOLDING MULLS OFFER FOR ITS UK-BASED MENSWEAR RETAIL UNIT<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GTEX Holding\u2019s UK subsidiary for menswear retail has a suitor: <\/strong>GTEX Holding received an acquisition offer from an unnamed related party for its UK menswear retail subsidiary <a target=\"_blank\" href=\"https:\/\/www.baird-group.co.uk\/\" style=\"\" rel=\"noopener\">Baird Group<\/a>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1397.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. GTEX said it will hold a board meeting soon to mull the offer, which seeks to acquire all of GTEX\u2019s 98.15% stake in Baird and hire a financial advisor to prepare a fair value study for the shares.<\/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\/emaar-misr\/\">Emaar Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fashion\/\">fashion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gtex-holding\/\">GTEX Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/metallurgical-industries-holding-company\/\">Metallurgical Industries Holding Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/retail\/\">retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-egyptian-industrial-investment-2\/\">Saudi Egyptian Industrial Investment<\/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=\"624123\" 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=\"624123\">\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\">Coffee with\u2026<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/coffee-with-tarek-el-gamal-chairman-of-redcon-properties\/\">\r\n                            Coffee With: Tarek El Gamal, chairman of Redcon Properties                        <\/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\/24\/coffee-with-tarek-el-gamal-chairman-of-redcon-properties\/\" 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\/24\/coffee-with-tarek-el-gamal-chairman-of-redcon-properties\/')\">\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\/24\/coffee-with-tarek-el-gamal-chairman-of-redcon-properties\/\">\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=Coffee With: Tarek El Gamal, chairman of Redcon Properties&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/coffee-with-tarek-el-gamal-chairman-of-redcon-properties\/\">\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\/24\/coffee-with-tarek-el-gamal-chairman-of-redcon-properties\/&title=Coffee With: Tarek El Gamal, chairman of Redcon Properties\">\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=Coffee+With%3A+Tarek+El+Gamal%2C+chairman+of+Redcon+Properties+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F24%2Fcoffee-with-tarek-el-gamal-chairman-of-redcon-properties%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\/24\/coffee-with-tarek-el-gamal-chairman-of-redcon-properties\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1858.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"624124\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/coffee-with-tarek-el-gamal-chairman-of-redcon-properties\/1858-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1858.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1858.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1858.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1858.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-624123\" class=\"content-area-description single-story post-624123 post type-post status-publish format-standard has-post-thumbnail hentry category-coffee-with tag-coffee-with tag-economy tag-enterpriseam tag-iraq tag-real-estate tag-redcon-properties tag-saudi-arabia tag-tarek-el-gamal 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\/.0f429b34-2a6c-4cc0-a563-7109e5348646.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Everything you want to know about Egypt\u2019s real estate sector:<\/strong> What is the growth trajectory of Egypt\u2019s real estate market? How can Egypt become a regional hub for international companies? Where are the best options in terms of exporting Egyptian real estate? In search of answers to these questions, Enterprise spoke with Redcon Properties Chairman Tarek El Gamal (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/tarek-m-elgamal\/?locale=ar_AE\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), a regional real estate expert with over forty years of experience in contracting, development, and the building materials industry. Here are 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>Enterprise: Firstly, how are things looking in Egypt\u2019s real estate sector?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tarek El Gamal:<\/strong> The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f1a2d7b6-7512-4e0d-bd89-669430f67384\/the-real-estate-sector-is-expected-to-see-a-boom-on-the-back-of-currency-correction\" style=\"\" rel=\"noopener\">currency float in March<\/a> served as a turning point for the local real estate market. Previously, investors had been hedging against the decline in the value of the EGP as the primary incentive for real estate demand as an asset. This became particularly evident when looking at office real estate, a market that has witnessed a boom as more outsourcing service companies have appeared in Egypt on the back of lower cost of living requirements compared to other countries in the region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The implementation rate of real estate projects fell prior to the EGP float, driven by limited supplies and high costs of building materials after import restrictions hit local production of cement and rebar. Following the float, things have gradually begun to return to normal.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: How have pricing conditions been affected?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TG: <\/strong>Residential, office, and commercial real estate prices <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bf770dd1-a7cb-4735-a665-ee91a9812142\/egp-float-jumpstarts-cairo%25e2%2580%2599s-real-estate-market-in-q1-2024\" style=\"\" rel=\"noopener\">naturally changed after the float and<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bf770dd1-a7cb-4735-a665-ee91a9812142\/egp-float-jumpstarts-cairo%25e2%2580%2599s-real-estate-market-in-q1-2024\" style=\"\" rel=\"noopener\">the interest rate hike<\/a>. Now with the stability of the exchange rate of the EGP against the USD and the removal of the black market, many commodities have seen their prices fall, yet the rate of decline has been less significant in the real estate market. This has especially been evident in the North Coast area due to high demand.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Historically, residential real estate prices have declined at a rate of 70-80% against the USD every 25 years in Egypt, contrary to the global rate, on the back of urban expansion. This is in contrast to office and commercial real estate, as older areas have become commercial markets for newer nearby areas. If we want to change this pattern, there need to be more services made available and cheaper modes of transport.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What are the future prospects for the real estate market and construction sector in the<\/strong><strong> wake of new government spending restrictions?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TG:<\/strong> The construction and contracting sectors are certain to be negatively affected by the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/02d223b2-6f5b-4685-9f35-60724896fed1\/how-will-public-spending-cuts-impact-infrastructure-projects%3F\" style=\"\" rel=\"noopener\">reduction in government spending on public projects<\/a>. However, the private sector will serve as an alternative source of investment, especially given government incentives aimed at attracting foreign direct investment into Egypt via public-private partnerships for infrastructure projects. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: How can Egypt become a regional hub for international companies?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TG:<\/strong> Time is the key factor for Egypt\u2019s transition to a regional center for international companies. Establishing the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/676d546d-b451-4907-bb38-61bf62d66803\" style=\"\" rel=\"noopener\">Ras El Hekma project<\/a> as a private free zone served as the primary incentive in attracting the USD 35 bn investment from the Abu Dhabi wealth fund ADQ. A project like Ras El Hekma cannot be marketed via the off-plan sales system given its size, presenting the need for a private free zone system to attract investment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">On a different note, cooling represents the highest electrical load for any building. Electricity prices must be liberalized in Egypt to fall in line with international rates and in a way that stimulates competition in the local and regional real estate markets. The use of heat-insulating glass would also reduce electricity consumption bills, while also increasing employee productivity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Why have local real estate funds not seen the same momentum that is being witnessed<\/strong><strong> in Gulf markets?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TG: <\/strong>While the global market is witnessing the activity of some 4k real estate funds, the situation is different in Egypt. Here, real estate investment funds do not benefit from sufficient tax exemptions and are subject to internal and external oversight committees that deprive the market from huge gains. A project implemented by a real estate fund can derive double the value of that implemented by a company with self- or bank-backed financing, which will also have to sell part of its project \u2014 if not all \u2014 via the off-plan sales system in order to provide the necessary liquidity to undertake the project. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Why do some investors rely on foreign contractors and consultants for local projects?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TG: <\/strong>At Redcon, we rely on international consultants for new projects due to their huge library of data, meaning that they can offer the largest number of design ideas matched to geographic location for the most efficient price. This is something that many Egyptian offices focused purely on design do not have.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Where do Egyptian companies currently stand on the path to sustainable construction<\/strong><strong> and how can they catch up to the global level?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TG: <\/strong>Redcon seeks to adopt a transportation-oriented urban development approach \u2014 a style of urban planning that focuses on creating integrated residential, commercial, and entertainment communities centered around public transport stations such as the metro, buses, or train stations. The proximity encourages the use of public transport and reduces dependence on cars, in turn lowering traffic congestion and pollution and increasing the value of real estate in these areas.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Land transportation is expensive for any economy, and in Egypt it eats up a large percentage of a citizen\u2019s income, despite their share in the railway transportation networks being less than compared to citizens in countries with similar economies. In France, the per capita share of the metro or railway is 150 kilometers per 1 mn citizens, while in Bangkok it is 20 km. In Cairo it is only 7-8 kms, while in the governorates it is zero. Relying on smart mobility may <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/20400660-1afe-4246-b092-8dfff77f2656\/%253cmark%253esmart%253c%2Fmark%253e-mobility-could-help-solve-egypt%25e2%2580%2599s-urbanization-issues-and-promote-sustainability\" style=\"\" rel=\"noopener\">help Egypt solve urban expansion problems<\/a>, enhance sustainability, especially as Egypt\u2019s population growth is expected to accelerate over the next six years, with some 20 mn people added to the population between 2021 and 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Positioning green and sustainable construction as a fundamental pillar of modern construction in Egypt will be one of my goals over the next three years as a board member of the <a target=\"_blank\" href=\"https:\/\/unglobalcompact.org\/\" style=\"\" rel=\"noopener\">UN Global Compact<\/a> \u2014 the largest global corporate initiative in the field of sustainability \u2014 which includes more than 24k participants from 167 countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: The government is making great efforts to stimulate the export of real estate in order<\/strong><strong> to increase foreign currency reserves. Where do you see the most important elements of success?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TG:<\/strong> I believe that the principles of transportation-oriented urban development can be considered a sustainable and effective solution to the dilemmas of urban growth and environmental challenges. The approach has been gaining global popularity, meaning it would serve as a way to activate exports of the local real estate market. Expanding the equipment of headquarters for Business Development Outsourcing centers would also give Egypt a competitive advantage. It will require the government making large amounts of land available for these high-value projects that bring in hard currency.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Tell us about Redcon and its plans for development in the local market?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TG: <\/strong>Redcon is still completing its Golden Gate project, which has benefitted from recent government incentives that allow developers to retain 20% of the land area allocated to any project as stock to be developed after pre-agreed implementation stages. Contractual sales for the project reached EGP 11 bn in the past year, of which the share of foreigners and Egyptian expats accounted for over 30%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Redcon plans to develop a mixed-use, predominantly residential project within our largest project Westgate. The company is also aiming to acquire land in the North Coast for development.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What was Redcon\u2019s volume of contracts in 2023 and what about the target for this<\/strong><strong> year?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TG: <\/strong>The volume of work carried out by our contracting arm Redcon Developments over 2023 ranged between EGP 10-12 bn, while the volume of contracts reached EGP 30-40. In 2024, we are targeting growth of over 50% in the volume of executed work and aim to add new contracts worth some EGP 10-15 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Talk us through Redcon\u2019s future plans, including foreign expansion?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TG: <\/strong>Redcon International, the joint venture between Redcon Construction and Saudi Al Reyadah Holding Company, has obtained <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=16092023&amp;id=cb926bf4-0a41-478f-9167-e2ab500045f3\" style=\"\" rel=\"noopener\">an A credit rating<\/a> and the first technical rating in Saudi Arabia, qualifying the company to compete for the kingdom\u2019s largest projects and reflecting the company\u2019s financial and technical strength and solvency. We have obtained contracting contracts worth SAR 250 mn from the Red Sea International Company, an affiliate of the Saudi Public Investment Fund, to implement landscaping works at its Amaala and Triple Bay projects. Redcon International is also targeting business volumes of SAR 2.5 bn (c. EGP 31.7 bn) over 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Redcon Development is moving towards foreign markets and reconstruction areas, including the Emirates and Iraq, and is aiming to establish a company in Iraq by early 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Are you considering offering any of the group\u2019s companies \u2014 Redcon Development or<\/strong><strong> Redcon Properties \u2014 on the EGX? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TG: <\/strong>Of course, any real estate company that aims to continue expanding keeps the stock market in mind. But, moving forward with a Redcon offering will depend upon market conditions.<\/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\/coffee-with\/\">Coffee With<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iraq\/\">Iraq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/redcon-properties\/\">Redcon Properties<\/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\/tarek-el-gamal\/\">Tarek El Gamal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"624125 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=\"624125\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/624125\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-624125\" class=\"content-area-description single-story post-624125 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=\"624126\" 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=\"624126\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/the-governments-decision-to-temporarily-extend-power-cuts-caught-the-attention-and-ire-of-the-nations-talking-heads\/\">\r\n                            The government\u2019s decision to temporarily extend power cuts caught the attention and ire of the nation\u2019s talking heads                        <\/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\/24\/the-governments-decision-to-temporarily-extend-power-cuts-caught-the-attention-and-ire-of-the-nations-talking-heads\/\" 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\/24\/the-governments-decision-to-temporarily-extend-power-cuts-caught-the-attention-and-ire-of-the-nations-talking-heads\/')\">\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\/24\/the-governments-decision-to-temporarily-extend-power-cuts-caught-the-attention-and-ire-of-the-nations-talking-heads\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The government\u2019s decision to temporarily extend power cuts caught the attention and ire of the nation\u2019s talking heads&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/the-governments-decision-to-temporarily-extend-power-cuts-caught-the-attention-and-ire-of-the-nations-talking-heads\/\">\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\/24\/the-governments-decision-to-temporarily-extend-power-cuts-caught-the-attention-and-ire-of-the-nations-talking-heads\/&title=The government\u2019s decision to temporarily extend power cuts caught the attention and ire of the nation\u2019s talking heads\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+government%E2%80%99s+decision+to+temporarily+extend+power+cuts+caught+the+attention+and+ire+of+the+nation%E2%80%99s+talking+heads+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F24%2Fthe-governments-decision-to-temporarily-extend-power-cuts-caught-the-attention-and-ire-of-the-nations-talking-heads%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\/24\/the-governments-decision-to-temporarily-extend-power-cuts-caught-the-attention-and-ire-of-the-nations-talking-heads\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1462.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"624127\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/the-governments-decision-to-temporarily-extend-power-cuts-caught-the-attention-and-ire-of-the-nations-talking-heads\/1462-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1462.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1462.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1462.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1462.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-624126\" class=\"content-area-description single-story post-624126 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-agriculture-ministry tag-electricity tag-electricity-ministry tag-enterpriseam tag-last-nights-talk-shows tag-oil-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.cb20c2d0-4a96-4d43-868a-aaa3cd9de014.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Talk of power cuts lit up screens across the nation: <\/strong>Almost every pundit on the airwaves last night had something to say about the <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid022YpbYXCbDEMuD4CUFy69sQMs34yoVKJwEeoEwK1d7H4LymuJNWNfKC8LBHYJJQvrl\" style=\"\" rel=\"noopener\">decision<\/a> to temporarily extend power cuts for an additional hour yesterday and today on the back of rising temperatures squeezing demand.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Amr Adib didn\u2019t like the surprise: <\/strong>\u201cWhat\u2019s more important than the power cuts crisis is how to address it. The government needs to provide a roadmap on how to work out the electricity load-shedding crisis in the coming period,\u201d Amr Adib said on his show Al Hekaya (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=XBt0biLZaqo\" style=\"\" rel=\"noopener\">watch, runtime: 26:48<\/a>). He urged the government not to keep the people in the dark and wondered whether the lack of any warning was due to members of the current government set to soon be replaced with a new government expected to be sworn in this week. \u201cWe\u2019re done talking about the reasons for load shedding. We know we have an energy problem, but treat us well and show us some respect.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ahmed Moussa also had some tough words for the government:<\/strong> Ala Masouleety\u2019s Ahmed Moussa also voiced his frustration with the government\u2019s delayed response, telling his audience that \u201cI\u2019m upset with the government for not issuing a timely statement regarding the power cuts,\u201d stressing that \u201cthe government should have preemptively informed citizens about the extended load-shedding hours\u201d (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=l_uSEq5tFVE\" style=\"\" rel=\"noopener\">watch, runtime: 7:40<\/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\/agriculture-ministry\/\">Agriculture Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/electricity-ministry\/\">Electricity Ministry<\/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\/oil-ministry\/\">Oil Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"624128\" 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=\"624128\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/egypts-crackdown-on-tourism-companies-following-deadly-hajj-heatwave-catches-the-attention-of-the-international-press\/\">\r\n                            Egypt\u2019s crackdown on tourism companies following deadly Hajj heatwave catches the attention of the international press                        <\/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\/24\/egypts-crackdown-on-tourism-companies-following-deadly-hajj-heatwave-catches-the-attention-of-the-international-press\/\" 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\/24\/egypts-crackdown-on-tourism-companies-following-deadly-hajj-heatwave-catches-the-attention-of-the-international-press\/')\">\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\/24\/egypts-crackdown-on-tourism-companies-following-deadly-hajj-heatwave-catches-the-attention-of-the-international-press\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt\u2019s crackdown on tourism companies following deadly Hajj heatwave catches the attention of the international press&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/egypts-crackdown-on-tourism-companies-following-deadly-hajj-heatwave-catches-the-attention-of-the-international-press\/\">\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\/24\/egypts-crackdown-on-tourism-companies-following-deadly-hajj-heatwave-catches-the-attention-of-the-international-press\/&title=Egypt\u2019s crackdown on tourism companies following deadly Hajj heatwave catches the attention of the international press\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt%E2%80%99s+crackdown+on+tourism+companies+following+deadly+Hajj+heatwave+catches+the+attention+of+the+international+press+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F24%2Fegypts-crackdown-on-tourism-companies-following-deadly-hajj-heatwave-catches-the-attention-of-the-international-press%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\/24\/egypts-crackdown-on-tourism-companies-following-deadly-hajj-heatwave-catches-the-attention-of-the-international-press\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1406.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"624129\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/egypts-crackdown-on-tourism-companies-following-deadly-hajj-heatwave-catches-the-attention-of-the-international-press\/1406-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1406.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1406.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1406.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1406.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-624128\" class=\"content-area-description single-story post-624128 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-enterpriseam tag-hajj tag-saudi-arabia 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\/.8566b2ae-6dc5-4532-92d1-ba6915f87160.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The rising death toll from the Mecca heatwave is sadly keeping Egypt in the news: <\/strong>With the Saudi state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2128054\" style=\"\" rel=\"noopener\">SPA<\/a> reporting that the death toll now stands at over 1.3k pilgrims, the world\u2019s press have been trying to unravel why the tragedy happened. Center stage in the discussion is Saudi Health Ministry reports that 83% of those who were lost were unregistered pilgrims, half of whom have been reported to be Egyptians. Security and medical sources that spoke to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/egyptian-haj-death-toll-rises-672-2024-06-23\/\" style=\"\" rel=\"noopener\">Reuters<\/a> have put the number of Egyptians that died at 672 with a further 25 missing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government\u2019s efforts to clamp down on tourism companies it say endangered the<\/strong><strong> lives of pilgrims have received ink from the international press: <\/strong>Mirroring Saudi Health Minister Fahad bin Abdurrahman Al Jalajel\u2019s assessment that the high death toll is due to \u201cunauthorized pilgrims who walked long distances under direct sunlight with no suitable shelter or comfort,\u201d the Egyptian government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1d67da33-4f81-4134-8635-502f0b3dd101\/government-to-prosecute%253cmark%253e-hajj%253c%2Fmark%253e-tourism-companies-after-hundreds-die-in-heatwave\" style=\"\" rel=\"noopener\">suspended<\/a> the operating licenses of 16 travel companies that facilitated the unregistered travel of pilgrims. An Egyptian government <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid08QnxFQx4pSWBWzTPFU4VjC3h9BH8nxi7sGVi2xfgRq6zz5rTMtbuZAukSeY3rVXKl?rdid=8NZkKFFvhVu7VFxc\" style=\"\" rel=\"noopener\">task force<\/a> to address the situation argue that travel companies that sent pilgrims into the country on a personal visit visas instead of the required Hajj visas endangered the pilgrims lives by sending them on foot to Mecca via desert roads during the heatwave to avoid being caught by Saudi authorities and did not provide medical services and accommodation. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egypt-cracks-down-tourism-companies-after-haj-deaths-2024-06-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/06\/22\/world\/middleeast\/hajj-heat-deaths-egypt.html?searchResultPosition=1\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/06\/23\/middleeast\/egypt-hajj-tourism-companies-revoke-licenses-intl\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/article\/2024\/jun\/22\/hajj-egypt-prosecute-travel-agents\" style=\"\" rel=\"noopener\">Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cxrrzp479r4o\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.dw.com\/en\/egypt-blames-hajj-deaths-on-unregistered-mecca-arrivals\/a-69446674\" style=\"\" rel=\"noopener\">Deutsche Welle<\/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\/hajj\/\">hajj<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"624130\" 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=\"624130\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/jica-to-soon-disburse-usd-300-mn-loan-for-the-fourth-line-of-the-cairo-metro-plus-tagaddod-organi-group-qnb-al-ahli-friday-ice-cream-mediterraneo-arkan-palm\/\">\r\n                            JICA to soon disburse USD 300 mn loan for the fourth line of the Cairo Metro. PLUS: Tagaddod, Organi Group, QNB Al Ahli, Friday Ice Cream, Mediterraneo, Arkan Palm                        <\/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\/24\/jica-to-soon-disburse-usd-300-mn-loan-for-the-fourth-line-of-the-cairo-metro-plus-tagaddod-organi-group-qnb-al-ahli-friday-ice-cream-mediterraneo-arkan-palm\/\" 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\/24\/jica-to-soon-disburse-usd-300-mn-loan-for-the-fourth-line-of-the-cairo-metro-plus-tagaddod-organi-group-qnb-al-ahli-friday-ice-cream-mediterraneo-arkan-palm\/')\">\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\/24\/jica-to-soon-disburse-usd-300-mn-loan-for-the-fourth-line-of-the-cairo-metro-plus-tagaddod-organi-group-qnb-al-ahli-friday-ice-cream-mediterraneo-arkan-palm\/\">\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=JICA to soon disburse USD 300 mn loan for the fourth line of the Cairo Metro. PLUS: Tagaddod, Organi Group, QNB Al Ahli, Friday Ice Cream, Mediterraneo, Arkan Palm&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/jica-to-soon-disburse-usd-300-mn-loan-for-the-fourth-line-of-the-cairo-metro-plus-tagaddod-organi-group-qnb-al-ahli-friday-ice-cream-mediterraneo-arkan-palm\/\">\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\/24\/jica-to-soon-disburse-usd-300-mn-loan-for-the-fourth-line-of-the-cairo-metro-plus-tagaddod-organi-group-qnb-al-ahli-friday-ice-cream-mediterraneo-arkan-palm\/&title=JICA to soon disburse USD 300 mn loan for the fourth line of the Cairo Metro. PLUS: Tagaddod, Organi Group, QNB Al Ahli, Friday Ice Cream, Mediterraneo, Arkan Palm\">\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=JICA+to+soon+disburse+USD+300+mn+loan+for+the+fourth+line+of+the+Cairo+Metro.+PLUS%3A+Tagaddod%2C+Organi+Group%2C+QNB+Al+Ahli%2C+Friday+Ice+Cream%2C+Mediterraneo%2C+Arkan+Palm+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F24%2Fjica-to-soon-disburse-usd-300-mn-loan-for-the-fourth-line-of-the-cairo-metro-plus-tagaddod-organi-group-qnb-al-ahli-friday-ice-cream-mediterraneo-arkan-palm%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\/24\/jica-to-soon-disburse-usd-300-mn-loan-for-the-fourth-line-of-the-cairo-metro-plus-tagaddod-organi-group-qnb-al-ahli-friday-ice-cream-mediterraneo-arkan-palm\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1466.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"624131\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/jica-to-soon-disburse-usd-300-mn-loan-for-the-fourth-line-of-the-cairo-metro-plus-tagaddod-organi-group-qnb-al-ahli-friday-ice-cream-mediterraneo-arkan-palm\/1466-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1466.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1466.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1466.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1466.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-624130\" class=\"content-area-description single-story post-624130 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-afreximbank tag-agriculture tag-also-on-our-radar tag-banking tag-biofuel tag-debt tag-enterpriseam tag-hospitality tag-infrastructure tag-jica tag-national-bank-of-egypt tag-organi-group tag-qatari-diar tag-qnb-alahli tag-real-estate tag-smes tag-startups tag-tagaddod tag-transport tag-waste-management 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\/.84bdc694-1073-4095-82e9-9d4a1f268935.mp3\"><\/audio><\/figure>\n<p class=\"tag-border-left\">INFRASTRUCTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt coul<\/strong><strong>d receive the first tranche of JICA\u2019s loan for the Cairo Metro Line 4 soon: <\/strong>The Japan International Cooperation Agency (JICA) will soon disburse a USD 300 mn tranche from its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dbf1a575-7088-4942-9f30-c778533dba54\" style=\"\" rel=\"noopener\">USD 733 mn loan<\/a> to finance the construction of the first phase of Cairo Metro Line 4, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%ac%d8%a7%d9%8a%d9%83%d8%a7-%d8%aa%d8%aa%d9%8a%d8%ad-300-%d9%85%d9%84%d9%8a%d9%88%d9%86-%d8%af%d9%88%d9%84%d8%a7%d8%b1-%d9%84%d8%a3%d9%88%d9%84-%d9%85%d8%b1%d8%ad%d9%84%d8%a9-%d8%a8\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reported, citing sources it says are in the know. The tranche will be used to ramp up construction at the first phase of the line and fund the FX needs of the Japanese Taisei Corporation \u2014 one of the contractors building the line.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Phases 2 and 3 are in the pipeline: <\/strong>An undisclosed Japanese consulting firm was recently commissioned to conduct the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cfe4e615-b065-495d-8064-7fdcdeaffc89\/the-real-estate-sector%25e2%2580%2599s-2023-recap-%2B-what-to-expect-in-2024\" style=\"\" rel=\"noopener\">feasibility studies<\/a> for the second and third phases of the project, the source added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The National Tunnels Authority was reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a782dd6c-ea40-4924-8635-2f6679f5997e\/more-funding-for-cairo-metro-line-4%3F\" style=\"\" rel=\"noopener\">in talks last year<\/a> with a syndicate of local banks over a EGP 17 bn loan to finance the project and the Transport Ministry also reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aaceb296-3f02-4072-92c4-ecfca857da8f\/dana-gas-wants-to-reinvest-usd-58-mn-in-egypt.-plus:-news-from-ades-and-transport-ministry,\" style=\"\" rel=\"noopener\">reached out to international lenders<\/a> to secure a USD 1 bn soft loan to fund the second phase of the line. The first phase of the line \u2014 which will connect Cairo, Giza, and the outskirts of Sixth of October city \u2014 is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/91c430c2-4817-498e-aa92-36db7b8466c0\" style=\"\" rel=\"noopener\">scheduled<\/a> to open in 2027.<\/p>\n<p class=\"tag-border-left\">STARTUPS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Used cooking oil recycler Tagaddod sees interest from Dutch development bank<\/strong><strong> FMO:<\/strong> Dutch entrepreneurial development bank FMO is mulling a USD 1.2 mn equity investment in homegrown waste management startup <a target=\"_blank\" href=\"https:\/\/www.tagaddod.com\/\" style=\"\" rel=\"noopener\">Tagaddod<\/a> to fund its expansion in Egypt and across the MENA region, a <a target=\"_blank\" href=\"https:\/\/www.fmo.nl\/project-detail\/63737\" style=\"\" rel=\"noopener\">project proposal<\/a> published by the bank showed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cooking oil as a fuel, you say?<\/strong> We ran a Going Green exploring the recycling of used cooking oil in Egypt a few months back. Check out the story <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/22e81fef-6d69-4cf8-9e3e-1ab2681067ac\/the-business-of-recycling-used-cooking-oil\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Organi to work with Qatari Diar on three of its Egypt projects: <\/strong>Local contractor Organi Group has partnered with Qatari Diar to help deliver three of the Qatari real estate developer\u2019s projects in Egypt, according to a <a target=\"_blank\" href=\"https:\/\/www.threads.net\/@alorgani\/post\/C8h64WztkhE\" style=\"\" rel=\"noopener\">social media post<\/a> from Organi\u2019s chairman Ibrahim Al Organi. The projects are <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8f50842a-09d2-4df4-ba63-d939bcc69c17\/gov%25e2%2580%2599t-to-offer-guaranteed-prices-for-farmers.-plus:-news-from-qatari-diar.\" style=\"\" rel=\"noopener\">City Gate development<\/a> in New Cairo, a residential tower at the recently launched <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cabe33c6-d30b-42c9-96e1-daea85459741\/pachin-to-delist-from-egx.-plus:-mps-want-answers-on-blackouts-%2B-news-from%253cmark%253e-qatari%253c%2Fmark%253e%253cmark%253e-diar%253c%2Fmark%253e,-capricorn-energy-and-the-sme-development-authority\" style=\"\" rel=\"noopener\">USD 1 bn St Regis Residences project<\/a> and hotels in Sharm El Sheikh and Hurghada. Agreements for other projects are set to be inked down the line, the statement read.<\/p>\n<p class=\"tag-border-left\">SMEs-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Afreximbank earmarks USD 1 bn to fund a regional company that will back SMEs\u2019<\/strong><strong> access to <\/strong><strong>global markets:<\/strong> A new Afreximbank-backed company dubbed the African Trade and Distribution Company (ATDC) launched last week to facilitate small farmers\u2019 and SMEs\u2019 access to regional and global trade markets. The pan-African bank has pledged to invest USD 1 bn in the company, which was established in partnership with <a target=\"_blank\" href=\"https:\/\/www.ariseiip.com\/\" style=\"\" rel=\"noopener\">ARISE Integrated Industrial Platforms (ARISE IIP)<\/a>, <a target=\"_blank\" href=\"https:\/\/www.equitane.com\/\" style=\"\" rel=\"noopener\">Equitane<\/a>, and the secretariat of the <a target=\"_blank\" href=\"https:\/\/au-afcfta.org\/\" style=\"\" rel=\"noopener\">African Continental Free Trade Area<\/a>, according to statements from <a target=\"_blank\" href=\"https:\/\/www.instagram.com\/afreximbankofficial\/p\/C8LKD8dObkC\/\" style=\"\" rel=\"noopener\">Afreximbank<\/a> and <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/arise-iip_afcfta-afcfta-activity-7207710103091724288-5BZW\/\" style=\"\" rel=\"noopener\">ARISE IPP<\/a>.<\/p>\n<p class=\"tag-border-left\">BANKING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>QNB Al Ahli is now QNB: <\/strong>QNB Al Ahli, the Egyptian unit of Qatar National Bank (QNB Group), will be rebranding to QNB, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1428.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from the bank. The makeover aims to boost the presence of the bank's brand in the local market by directly associating it with the group's name, QNB\u2019s CEO Mohamed Bedeir explained.<\/p>\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>#1-<\/strong> <strong>Friday Ice Cr<\/strong><strong>eam seeks up to EUR 25 mn to expand its factory:<\/strong> Frozen dessert maker <a target=\"_blank\" href=\"http:\/\/www.fridayice.com\/\" style=\"\" rel=\"noopener\">Friday Ice Cream<\/a> is in talks with local banks to obtain an EGP loan equivalent to EUR 20-25 mn to fund the construction of the second phase of its new factory in Tenth of Ramadan City, the company\u2019s Chairman Mohamed Gomaa told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%81%d8%b1%d8%a7%d9%8a%d8%af%d8%a7%d9%89-%d8%aa%d8%aa%d9%81%d8%a7%d9%88%d8%b6-%d9%85%d8%b9-%d8%a7%d9%84%d8%a3%d9%87%d9%84%d9%89-%d8%a7%d9%84%d9%85%d8%b5%d8%b1%d9%89-%d9%88\/\" style=\"\" rel=\"noopener\">Al Mal<\/a>.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Mediterraneo in talks with Netherland\u2019s FMO for USD 25 mn loan: <\/strong>Local commodities trader <a target=\"_blank\" href=\"https:\/\/mediterraneo-egypt.com\/\" style=\"\" rel=\"noopener\">Mediterraneo Egypt<\/a> is currently in talks with the Dutch entrepreneurial development bank FMO for a two-part loan agreement worth USD 25 mn, a <a target=\"_blank\" href=\"https:\/\/www.fmo.nl\/project-detail\/63761\" style=\"\" rel=\"noopener\">project proposal<\/a> published by the bank showed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s the money going?<\/strong> Mediterraneo will use the funds to finance its \u201cworking capital needs and capital expenditure required for the construction of their new processing facility and distribution center in Egypt,\u201d according to the lender.<\/p>\n<p class=\"tag-border-left\">HOSPITALITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt to open its first Holiday Inn Express in 2027: <\/strong>Local property developer <a target=\"_blank\" href=\"https:\/\/arkanpalm.com\/\" style=\"\" rel=\"noopener\">Arkan<\/a><a target=\"_blank\" href=\"https:\/\/arkanpalm.com\/\" style=\"\" rel=\"noopener\">Palm<\/a> and UK-based hospitality firm <a target=\"_blank\" href=\"https:\/\/www.ihg.com\/hotels\/gb\/en\/reservation?fromRedirect=true&amp;qSrt=sAV&amp;setPMCookies=true&amp;dp=true&amp;gclid=Cj0KCQjwj9-zBhDyARIsAERjds2PVQd-mPwgc65UsPDOnf6tjqo7wM2Io5eNwUPXmJZH5zR3pYuy9p4aAkUMEALw_wcB&amp;cm_mmc=PDSEA-_-G_F-IMEA_FS-MEA_H-IMEA_HS-MEA_6C_BSF_EXM_CORE-IHG_EN&amp;srb_u=1\" style=\"\" rel=\"noopener\">Intercontinental Hotels Group (IHG)<\/a> will build Egypt\u2019s first Holiday Inn Express hotel in Arkan Palm\u2019s West Cairo 205 project, which will feature 700 hotel rooms and open in 2027, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1437.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a> from Savills. <\/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\/afreximbank\/\">AfreximBank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/biofuel\/\">biofuel<\/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\/hospitality\/\">hospitality<\/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\/jica\/\">JICA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-bank-of-egypt\/\">National Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/organi-group\/\">Organi Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatari-diar\/\">Qatari Diar<\/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\/real-estate\/\">real estate<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tagaddod\/\">Tagaddod<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/waste-management\/\">waste management<\/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=\"624132\" 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=\"624132\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/eu-tariffs-on-chinese-evs-might-possibly-ease-up\/\">\r\n                            EU tariffs on Chinese EVs might possibly ease up                        <\/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\/24\/eu-tariffs-on-chinese-evs-might-possibly-ease-up\/\" 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\/24\/eu-tariffs-on-chinese-evs-might-possibly-ease-up\/')\">\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\/24\/eu-tariffs-on-chinese-evs-might-possibly-ease-up\/\">\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=EU tariffs on Chinese EVs might possibly ease up&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/eu-tariffs-on-chinese-evs-might-possibly-ease-up\/\">\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\/24\/eu-tariffs-on-chinese-evs-might-possibly-ease-up\/&title=EU tariffs on Chinese EVs might possibly ease up\">\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=EU+tariffs+on+Chinese+EVs+might+possibly+ease+up+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F24%2Feu-tariffs-on-chinese-evs-might-possibly-ease-up%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\/24\/eu-tariffs-on-chinese-evs-might-possibly-ease-up\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1450.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"624133\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/eu-tariffs-on-chinese-evs-might-possibly-ease-up\/1450-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1450.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1450.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1450.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1450.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-624132\" class=\"content-area-description single-story post-624132 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.1107c6e4-d58c-4389-9a90-0ed52296ecf8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>China wants to hash out EV tariffs with the EU: <\/strong>China has agreed to enter into negotiations with the EU over the bloc\u2019s move to impose higher tariffs on imported Chinese EVs, <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/9902c9f2-3664-4a23-a5a5-77bca4979d96\" style=\"\" rel=\"noopener\">the Financial Times<\/a> reports, with German Vice-Chancellor Robert Habeck paying a visit to Beijing in a bid to \u201c[soothe] tensions.\u201d <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> The EU passed a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/eu-impose-multi-billion-euro-tariffs-chinese-evs-ft-reports-2024-06-12\/\" style=\"\" rel=\"noopener\">decision this month<\/a> to push tariffs on imports of Chinese EVs to up to 48% on some vehicles. The move follows an anti subsidy investigation initiated by the supranational political union last year against Chinese EVs.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Are the tariffs already hitting trade volumes? <\/strong>German exports to China dropped 14% y-o-y last month, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f4d83b55-3277-4bf2-8185-9f3d10059c40\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports separately. Although tensions could be rising between Beijing and Berlin over the EV tariffs, analysts and economists suggest the export decline is likely attributable to other factors, including weaker auto sales in China or \u201ca lagged impact of the Red Sea blockage.\u201d It doesn\u2019t look like this reading is the start of a new downtrend,\u201d Oxford Economics economist Oliver Rakau said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As one door opens, another door closes: <\/strong>The Canadian government is also mulling passing its own set of fresh tariffs on Chinese-made EVs, in a bid to match actions by the US and EU, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-20\/canada-prepares-potential-tariffs-on-china-electric-vehicles-after-us-eu-moves\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing people familiar with the matter. The decision is still pending, with public consultations about the matter expected to kick off soon, the business information service cites officials as saying.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The Biden administration also revealed plans <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-14\/biden-imposes-sweeping-tariffs-on-chinese-chips-minerals-evs\" style=\"\" rel=\"noopener\">last month<\/a><\/strong><strong> to nearly<\/strong><strong> quadruple tariffs on Chinese EVs <\/strong>to up to a final rate of 102.5%, as part of an election-year bid to ramp up domestic manufacturing in critical industries. The government accused the Chinese market of \u201ccheating\u201d on trade, and dumping underpriced goods into international markets.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Chinese EVs are priced notably more affordably than Western brands, with some selling<\/strong><strong> for 20% cheaper in the EU<\/strong>, on the back of Chinese companies supplying a significant portion of global EV batteries, <a target=\"_blank\" href=\"https:\/\/www.aljazeera.com\/economy\/2024\/6\/14\/for-chinas-booming-ev-industry-us-and-eu-markets-a-tough-nut-to-crack\" style=\"\" rel=\"noopener\">Al Jazeera<\/a> reports. Chinese EVs dominated an 8.2% market share in the EU in 2023, with China\u2019s BYD surpassing Tesla as the world's largest electric car company in 2023. Predictions place Chinese EVs as comprising an 11% market share in the EU in 2024 and possibly 20% by 2027.<\/p><p class=\"tag-border-left\"> MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Major Asian benchmarks are each down around 0.6% this morning <\/strong>as the trading week gets started, with only the Nikkei bucking the trend \u2014 it\u2019s flat. Traders are looking forward to Australian and Japanese inflation data this week. <strong>US stock futures are down slightly <\/strong>overnight as traders prepare for the last week of the first half of 2024. <\/p><p><a target=\"_blank\" id=\"t.186b0711544b72c16a6b3d39d265a84d17af075c\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27,062<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.4% (YTD: +8.7%)<\/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>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 48.08<\/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 48.22<\/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><strong>)<\/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 48.10<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.20<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,730<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.0% (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>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\">9,013<\/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: -5.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,012<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: -1.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,465<\/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: +14.6%)<\/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>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\">8,238<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +6.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,907<\/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: +8.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 85.24<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.71<\/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\">-1.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,331.20<\/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\">-1.6%<\/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>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 64,015.00<\/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\">-0.4% (YTD: +51.4%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 2.44% at yesterday\u2019s close<\/strong> on turnover of EGP 2.9 bn (34.6% below the 90-day average). Local investors were net sellers. The index is up 8.7% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Alexandria Containers and Cargo Handling (+10.0%), Telecom Egypt (+8.1%), and EFG Holding (+6.3%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Edita (-0.1%).<\/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\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"624134\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">9<\/div>\r\n\r\n                        <p class=\"f-graphik\">BLACKBOARD<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/adult-literacy-programs-aim-to-equip-workforce-with-the-tools-for-success\/\">\r\n                            Adult literacy programs aim to equip workforce with the tools for success<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/adult-literacy-programs-aim-to-equip-workforce-with-the-tools-for-success\/\" 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\/blackboards\/adult-literacy-programs-aim-to-equip-workforce-with-the-tools-for-success\/')\">\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\/blackboards\/adult-literacy-programs-aim-to-equip-workforce-with-the-tools-for-success\/\">\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=Adult literacy programs aim to equip workforce with the tools for success&url=https:\/\/enterpriseam.com\/egypt\/blackboards\/adult-literacy-programs-aim-to-equip-workforce-with-the-tools-for-success\/\">\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\/blackboards\/adult-literacy-programs-aim-to-equip-workforce-with-the-tools-for-success\/&title=Adult literacy programs aim to equip workforce with the tools for success\">\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=Adult+literacy+programs+aim+to+equip+workforce+with+the+tools+for+success+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fblackboards%2Fadult-literacy-programs-aim-to-equip-workforce-with-the-tools-for-success%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>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/adult-literacy-programs-aim-to-equip-workforce-with-the-tools-for-success\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1382.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"624135\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/adult-literacy-programs-aim-to-equip-workforce-with-the-tools-for-success\/1382-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1382.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1382.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1382.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1382.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-624134\" class=\"content-area-description post-624134 blackboard type-blackboard status-publish has-post-thumbnail hentry category-blackboard tag-blackboard tag-education tag-education-ministry tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Having a large population is a bit of a double-edged sword:<\/strong> While blessed with an enviably large workforce and consumer base, it is also important that economic growth is experienced by everyone. With a digitization and automation revolution said to soon transform the skills needed by the workforce, one question is becoming increasingly urgent: how do we prepare our population to succeed in a changing Egyptian economy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The solution? Adult education programs. <\/strong>The task of adult learning \u201cis to provide \u2014 in a flexible way \u2014 equitable acquisition of relevant knowledge, competencies and skills throughout the life course,\u201d according to a 2022 UNESCO <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1429.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a> on adult education. Encouraging this kind of skill flexibility is particularly important as economic changes can displace existing workforces, the report notes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not just your plain old reading, writing, and arithmetic: <\/strong>While literacy is among the most important skills targeted by adult education programs, the term has come to mean much more than just the ability to read. Literacy now includes within its ambit numeracy, digital literacy, financial literacy, and the development of critical thinking skills. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember, Egypt lags behind in literacy: <\/strong>Government sources that spoke to Enterprise estimate that between 20% and 22% of Egypt\u2019s adult population is illiterate, while international organizations like the <a target=\"_blank\" href=\"https:\/\/data.worldbank.org\/indicator\/SE.ADT.LITR.ZS?locations=EG\" style=\"\" rel=\"noopener\">World Bank<\/a> and <a target=\"_blank\" href=\"https:\/\/www.uil.unesco.org\/sites\/default\/files\/medias\/files\/2022\/03\/GAL%20Country%20profile%20-%20Egypt.pdf\" style=\"\" rel=\"noopener\">UNESCO<\/a> place the proportion slightly higher at around 25-28%. This leaves us above the world average illiteracy rate of 17% and with a <a target=\"_blank\" href=\"https:\/\/data.worldbank.org\/indicator\/SE.ADT.LITR.ZS?locations=1A&amp;most_recent_value_desc=true\" style=\"\" rel=\"noopener\">lower literacy rate than all but five<\/a> of the twenty other Arab countries that report literacy data, according to the World Bank.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Enter the Adult Education Authority: <\/strong>Established in 1991 under the umbrella of the Education Ministry, the authority\u2019s raison d\u2019etre is all in its name \u2014 advancing adult education and particularly, adult literacy. Led by Eid Abdel Wahed, the authority works in all of Egypt\u2019s governorates to offer literacy classes tailored to the needs and preferences of students, alongside specialized teacher training and literacy assessments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Targeting near-zero illiteracy by 2030:<\/strong> Abdel Wahed\u2019s vision for the authority is to virtually eliminate illiteracy by 2030, which according to UNESCO\u2019s standards means reaching an illiteracy rate of between 7-10%. The authority is particularly focused on targeting individuals of working age and developing curricula that integrate the concept of entrepreneurship. The hope is that this will show how literacy can contribute to opening up economic possibilities and generating higher incomes, Abdel Wahed told Enterprise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Digital literacy is also a focus area: <\/strong>Efforts are also underway to incorporate digital literacy into curricula given the proliferation of digital applications in the service and banking sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Quality over quantity: <\/strong>According to Abdel Wahed, previous literacy drives disproportionately focused on the quantity of learners reached rather than the content of the education provided and its alignment with labor market needs. Old curricula also did not include important concepts like green sustainability, citizenship, rumor resistance, and digital literacy. The authority aims to integrate these concepts, alongside its focus on entrepreneurship, in new, higher quality curricula.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This also means designing new job-specific curricula<\/strong> that are tailored to different job functions, ensuring that content is beneficial for the individual\u2019s work. Testing mechanisms for obtaining literacy certificates are also being adjusted, incorporating job specific vocabulary and technical skills. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One challenge is ensuring participation:<\/strong> Adult literacy programs have faced some resistance on the part of participants and their families, and dropout rates continue to be a concern, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1431.pdf\" style=\"\" rel=\"noopener\">2022 report (pdf)<\/a> on challenges facing adult literacy provision. The authority has sought to remedy this by providing transportation options to and from classes and offering separate classes for female learners.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Funding also remains a challenge,<\/strong> said Abdel Wahed, noting that efforts are currently underway to find local and international partners interested in financing the authority\u2019s initiatives. Involving the private sector is also crucial for finding out-of-the-box solutions for sustaining and expanding existing programs, linking programs with the latest digital and security advancements, and improving public awareness and community education on important issues, Abdel Wahed said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The authority has piloted some specialized literacy programs already: <\/strong>The authority has worked with external partners on a number of specialized projects, <a target=\"_blank\" href=\"https:\/\/eaea.gov.eg\/pdf\/z5.pdf\" style=\"\" rel=\"noopener\">ranging<\/a> from an initiative with the Agriculture Ministry providing agro-focused literacy classes to a project carried out in tandem with the National Bank of Egypt aiming to simultaneously build functional and financial literacy. UNESCO\u2019s partnership with the authority has yielded a <a target=\"_blank\" href=\"https:\/\/www.unesco.org\/en\/articles\/unesco-cairo-office-and-unesco-institute-lifelong-learning-launch-women-family-community-project\" style=\"\" rel=\"noopener\">two-year literacy program<\/a> that aims to benefit 500 women in Giza, Aswan, and Damietta governorates as well as a teacher-training initiative and a program that will add adult education services to existing associations and clubs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Room for the private sector to step in:<\/strong> There remains ample progress to be made on the literacy front, and the private sector has strong incentive to throw its weight behind the project. As financial institutions increasingly target unbanked segments of Egypt\u2019s society, it\u2019s not just <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e7f44837-9d4d-4824-9428-03e55bb973b9\/improving%253cmark%253e-financial-literacy%253c%2Fmark%253e-is-crucial-to-boost-stock-market-retail-trading\" style=\"\" rel=\"noopener\">financial literacy<\/a> that counts. Increasing functional literacy will not only help develop individuals\u2019 skills and capabilities, but will help them access financial resources that can transform their lives. Instilling an entrepreneurial spirit through literacy programs may be just what the Egyptian economy 2.0 needs.<\/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>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>First SME sustainable financing class graduates: <\/strong>Nile University and the Commercial International Bank announced the graduation of the first class of graduates from their Sustainable Financing for Small and Medium Enterprises on Tuesday, CIB said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1176.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The course aims to teach students international best practices in applying ESG standards within the financial sector, with the ultimate goal of ensuring the sustainability of SMEs.<\/li>\n<li><strong>ECA charges three publishing firms with price gouging:<\/strong> The Egyptian Competition Authority (ECA) has confirmed that three firms working in the printing, publishing, and distribution of external school books have agreed to stop gouging the prices of the books, the Authority said in a <a target=\"_blank\" href=\"https:\/\/eca.org.eg\/ar-eg\/%D8%AC%D9%87%D8%A7%D8%B2-%D8%AD%D9%85%D8%A7%D9%8A%D8%A9-%D8%A7%D9%84%D9%85%D9%86%D8%A7%D9%81%D8%B3%D8%A9\/%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2-%D8%A7%D9%84%D8%A5%D8%B9%D9%84%D8%A7%D9%85%D9%89\/%D8%A8%D8%B5%D9%88%D8%B1%D9%87-%D9%88%D8%AA%D8%B5%D9%86%D9%8A%D9%81-299c6048b31b348a129b5dba0e423a7b\/%C2%AB%D8%AC%D9%87%D8%A7%D8%B2-%D8%AD%D9%85%D8%A7%D9%8A%D8%A9-%D8%A7%D9%84%D9%85%D9%86%D8%A7%D9%81%D8%B3%D8%A9%C2%BB-%D9%8A%D9%8F%D8%AB%D8%A8%D8%AA-%D9%85%D8%AE%D8%A7%D9%84%D9%81%D8%A9-3-%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D9%85%D8%AA%D8%AE%D8%B5%D8%B5%D8%A9-%D9%81%D9%8A-%D8%B7%D8%A8%D8%A7%D8%B9%D8%A9-%D9%88%D9%86%D8%B4%D8%B1-%D9%88%D8%AA%D9%88%D8%B2%D9%8A%D8%B9-%D8%A7%D9%84%D9%83%D8%AA%D8%A8-%D8%A7%D9%84%D8%AE%D8%A7%D8%B1%D8%AC%D9%8A%D8%A9-%D8%A7%D9%84%D9%85%D8%AF%D8%B1%D8%B3%D9%8A%D8%A9-%D9%84%D9%85%D8%B1%D8%A7%D8%AD\" style=\"\" rel=\"noopener\">statement<\/a>. The ECA said that legal actions have been taken against the violators, and that it has obligated all parties to refrain from holding any agreements that would raise or otherwise tamper with the prices of the books, the statement read.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/blackboard\/\">Blackboard<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education-ministry\/\">Education Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"624136\" 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\/24\/624136\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-624136\" class=\"content-area-description single-story post-624136 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>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>9 July (Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/beba.org.eg\/events\/keynote-address-on-voluntary-carbon-market-from-pledges-to-implementation-with-h-e-dr-mohamed-farid-saleh-executive-chairman-financial-regulatory-authority-fra\/\" style=\"\">Bri<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/beba.org.eg\/events\/keynote-address-on-voluntary-carbon-market-from-pledges-to-implementation-with-h-e-dr-mohamed-farid-saleh-executive-chairman-financial-regulatory-authority-fra\/\" style=\"\">tish Egyptian Business Association\u2019s meeting<\/a><\/span><span style=\"font-weight:400;\"> on the voluntary carbon market with a keynote address from FRA head Mohamed Farid, Cairo, Egypt.<\/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>Beltone readies four new funds | Bid for El Nasr glass is back on | Metro funds incoming | Power cuts ire the nation\u2019s talking heads<\/p>\n","protected":false},"featured_media":624114,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-624113","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"3b94c8b3-e4c3-4100-af01-f3beb5253f65","teaser":"Beltone readies four new funds | Bid for El Nasr glass is back on | Metro funds incoming | Power cuts ire the nation\u2019s talking heads","photo_url":"https:\/\/ent.news\/2024\/5\/1390.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The USD rises above the 48 EGP mark for the first time since April - 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\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/the-usd-rises-above-the-48-egp-mark-for-the-first-time-since-april\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The USD rises above the 48 EGP mark for the first time since April\" \/>\n<meta property=\"og:description\" content=\"Beltone readies four new funds | Bid for El Nasr glass is back on | Metro funds incoming | Power cuts ire the nation\u2019s talking heads\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/the-usd-rises-above-the-48-egp-mark-for-the-first-time-since-april\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-17T07:48:37+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1390.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/the-usd-rises-above-the-48-egp-mark-for-the-first-time-since-april\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/the-usd-rises-above-the-48-egp-mark-for-the-first-time-since-april\/\",\"name\":\"The USD rises above the 48 EGP mark for the first time since April - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/the-usd-rises-above-the-48-egp-mark-for-the-first-time-since-april\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/the-usd-rises-above-the-48-egp-mark-for-the-first-time-since-april\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1390.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-06-24T00:00:00+00:00\",\"dateModified\":\"2025-12-17T07:48:37+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/the-usd-rises-above-the-48-egp-mark-for-the-first-time-since-april\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/issues\/the-usd-rises-above-the-48-egp-mark-for-the-first-time-since-april\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/the-usd-rises-above-the-48-egp-mark-for-the-first-time-since-april\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1390.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1390.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/the-usd-rises-above-the-48-egp-mark-for-the-first-time-since-april\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Issues\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/AMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"The USD rises above the 48 EGP mark for the first time since April\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"The USD rises above the 48 EGP mark for the first time since April - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/issues\/the-usd-rises-above-the-48-egp-mark-for-the-first-time-since-april\/","og_locale":"en_US","og_type":"article","og_title":"The USD rises above the 48 EGP mark for the first time since April","og_description":"Beltone readies four new funds | Bid for El Nasr glass is back on | Metro funds incoming | Power cuts ire the nation\u2019s talking heads","og_url":"https:\/\/enterpriseam.com\/egypt\/issues\/the-usd-rises-above-the-48-egp-mark-for-the-first-time-since-april\/","og_site_name":"EnterpriseAM Egypt","article_modified_time":"2025-12-17T07:48:37+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1390.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/the-usd-rises-above-the-48-egp-mark-for-the-first-time-since-april\/","url":"https:\/\/enterpriseam.com\/egypt\/issues\/the-usd-rises-above-the-48-egp-mark-for-the-first-time-since-april\/","name":"The USD rises above the 48 EGP mark for the first time since April - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/the-usd-rises-above-the-48-egp-mark-for-the-first-time-since-april\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/the-usd-rises-above-the-48-egp-mark-for-the-first-time-since-april\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1390.jpg?fit=%2C&ssl=1","datePublished":"2024-06-24T00:00:00+00:00","dateModified":"2025-12-17T07:48:37+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/the-usd-rises-above-the-48-egp-mark-for-the-first-time-since-april\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/issues\/the-usd-rises-above-the-48-egp-mark-for-the-first-time-since-april\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/the-usd-rises-above-the-48-egp-mark-for-the-first-time-since-april\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1390.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1390.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/the-usd-rises-above-the-48-egp-mark-for-the-first-time-since-april\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Issues","item":"https:\/\/enterpriseam.com\/egypt\/AMarchives\/"},{"@type":"ListItem","position":3,"name":"The USD rises above the 48 EGP mark for the first time since April"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/624113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/issue"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/624113\/revisions"}],"predecessor-version":[{"id":624157,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/624113\/revisions\/624157"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/624114"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=624113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=624113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=624113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}