{"id":625248,"date":"2024-06-25T00:00:00","date_gmt":"2024-06-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=625248"},"modified":"2025-12-17T08:29:35","modified_gmt":"2025-12-17T08:29:35","slug":"extended-power-cuts-to-run-until-the-end-of-the-week","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/extended-power-cuts-to-run-until-the-end-of-the-week\/","title":{"rendered":"Extended power cuts to run until the end of the week"},"content":{"rendered":"<section id=\"625250\" 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=\"625250\">\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\/25\/cib-halves-fx-markup-fees-to-5-and-eases-card-limits-abroad\/\">\r\n                            CIB halves FX markup fees to 5% and eases card limits abroad                        <\/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\/25\/cib-halves-fx-markup-fees-to-5-and-eases-card-limits-abroad\/\" 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\/25\/cib-halves-fx-markup-fees-to-5-and-eases-card-limits-abroad\/')\">\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\/25\/cib-halves-fx-markup-fees-to-5-and-eases-card-limits-abroad\/\">\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=CIB halves FX markup fees to 5% and eases card limits abroad&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/cib-halves-fx-markup-fees-to-5-and-eases-card-limits-abroad\/\">\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\/25\/cib-halves-fx-markup-fees-to-5-and-eases-card-limits-abroad\/&title=CIB halves FX markup fees to 5% and eases card limits abroad\">\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=CIB+halves+FX+markup+fees+to+5%25+and+eases+card+limits+abroad+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F25%2Fcib-halves-fx-markup-fees-to-5-and-eases-card-limits-abroad%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\/25\/cib-halves-fx-markup-fees-to-5-and-eases-card-limits-abroad\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2780.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"625251\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/cib-halves-fx-markup-fees-to-5-and-eases-card-limits-abroad\/2780-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2780.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2780.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2780.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2780.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-625250\" class=\"content-area-description single-story post-625250 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-banking tag-enterpriseam 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\/7\/.50a18f93-5279-4fbe-bbd5-269001fef8fc.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, folks. <\/strong>As many of you may know all too well, the government extended planned rolling blackouts for an additional hour at the beginning of the week, leaving many of us in the dark and some areas were reportedly without power for up to five hours and more yesterday. The electricity and oil ministries reacted to public frustration at the unexpected extension by issuing a joint apology that also laid out that the extended power outages will continue until the end of the week.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our energy sector was the hot topic of the nation\u2019s talk shows and is set to be an important<\/strong><strong> point of discussion in the upcoming two-day <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/17cb3909-f06f-4dc7-95d4-281f07e6c8dd\/\" style=\"\" rel=\"noopener\">EU-Egypt Investment Conference<\/a><\/strong> that will kick off on Saturday. The country needs a clear roadmap to assign power outages in Egypt to the dustbin of history and we will be keenly watching to see what long-term solutions if any the conference presents. We\u2019ve got more about the unfolding powercut drama in the news well below.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT FIRST, a programming note: Please join us in welcoming the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/business.aucegypt.edu\/execed\" style=\"\" rel=\"noopener\">AUC School of<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/business.aucegypt.edu\/execed\" style=\"\" rel=\"noopener\">Business Executive Education (ExecEd)<\/a><\/strong><strong> as our latest partner. <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The folks at ExecEd are national and regional leaders in creating customized programs <\/strong><strong>for businesses of all sizes <\/strong>\u2014 from startups and small companies to large corporates \u2014 and also offer open-enrolment courses for individual execs who want to study on their own time. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As entrepreneurs and business nerds, we trust the team at ExecEd to bring together <\/strong><strong>expertise across key areas <\/strong>that every high-performance business needs if it wants to be successful, including management, sales and marketing, human resources, and digital transformation. They also have subject matter expertise in logistics and supply chain management, real estate, sports management, and healthcare management, among other sectors. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We love AUC and the team at ExecEd because we all aim to deliver <\/strong>both global quality and deep local insights that the fly-in, fly-out set just can\u2019t marshal. They\u2019re also the only business school in the Arab world (and one of just three in Africa) to make the Financial Times Executive Education Ranking.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The AUC School of Business Executive Education serves top national and global <\/strong><strong>companies <\/strong>including our friends at SODIC, Vodafone, EFG Hermes, Orascom Construction, EBRD, and CIB as well as Unilever, AstraZeneca, Saudi German Hospital.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Each month, the folks at ExecEd will help make us all a bit smarter <\/strong>about some of the most pressing ideas and topics in business and executive education. It is thanks to them and all of our other partners that we are able to bring you EnterpriseAM every morning without charge.<\/p><p class=\"tag-border-left\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>Public sector employees have a long weekend coming up<\/strong>, with Prime Minister Moustafa Madbouly <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/xfBb79YLLjQX4x6Y\/\" style=\"\" rel=\"noopener\">announcing<\/a> yesterday that Sunday June 30 will be a paid holiday to mark the eleventh anniversary of the 30 June revolution. We\u2019re yet to hear word if the private sector and banks will follow suit.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s getting uncomfortably hot in Cairo today<\/strong>, with a high of 41\u00b0C and a low of 27\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s also warming up in Alexandria<\/strong>, with a high of 36\u00b0C and a low of 23\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Want to subscribe?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p class=\"tag-border-left\">HAPPENING TODAY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#1- <\/strong><strong>The House reconvening is fueling speculation that a new government will be sworn in<\/strong><strong> soon: <\/strong>The House of Representatives will convene today and tomorrow after three weeks off to discuss and vote on several amendments and agreements, but some in parliamentary circles think Prime Minister Moustafa Madbouly will use the chance to unveil his new cabinet line up this week.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New government or not, the House has bills to discuss and votes to cast:<\/strong> MPs will meet today to discuss and vote on amendments to the law regulating the performance of economic courts, aiming to speed up the settlement of economic lawsuits before courts, to stimulate investments and fast-track settling economic disputes. MPs will also decide on a EUR 250 mn loan agreement with the Asian Infrastructure Investment Bank to turn Alexandria\u2019s Abu Qir railway into a metro.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Three new Japanese factories to kick off operations in the SCZone:<\/strong> Japanese hygiene and health food products company <a target=\"_blank\" href=\"https:\/\/saraya.world\/\" style=\"\" rel=\"noopener\">Saraya<\/a> will inaugurate three plants in the Suez Canal Economic Zone (SCZone) today, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid01Mh98gzWpvrmEXXhCjuU6ms64F4Hh7UgVhFSDe2MLpC3CShggPfum7itGtNbqwMHl\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. The new facilities include a plant for producing jojoba oil for export to European and Asian cosmetic companies, a factory for manufacturing natural cosmetics, and a factory for producing zero-calorie natural sweeteners.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And there\u2019s more in the pipeline: <\/strong>Another factory that will produce non-sterile nitrile gloves will be opened in the still-to-come second phase of the company\u2019s two part investment plan that will bring the total amount of investments in the project to USD 12 mn.<\/p><p class=\"tag-border-left\">WATCH THIS SPACE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a>  <strong>#1- CIB lowers FX markup fees and eases credit card limits: <\/strong>In the face of rumors of upcoming FX tightening, the Commercial International Bank (CIB) will reduce its FX markup fees and increase local and international transaction limits for credit cards, effective as of tomorrow, the lender said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1532.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In details:<\/strong> In addition to the bank lowering its FX commission to 5%, down from 10%, CIB customers will be able to spend the equivalent of EGP 75k-100k on monthly local FX transactions depending on the type of the account, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8a5fe32a-39ea-4ace-ac6e-54db2e8e329b\/\" style=\"\" rel=\"noopener\">u<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8a5fe32a-39ea-4ace-ac6e-54db2e8e329b\/\" style=\"\" rel=\"noopener\">p from<\/a> EGP 50k. Monthly limits for purchases made while cardholders are abroad will be capped at the equivalent of EGP 100k-300k, up from EGP 75k-200k previously.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Nafez<\/strong><strong>a denies it is making things hard for car importers: <\/strong>Both the Nefeza digital customs window and the Advance Cargo Information (ACI) systems have been \"<span style=\"background-color: transparent;\">fully operational and functioning 24\/7\" and are not responsible for what an industry group claims is a backlog of imported vehicles in the nation's ports.\u00a0<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The claim originated with the automotive division of the\u00a0<\/strong>Federation of Egyptian Chambers of Commerce. Alaa El Sabaa, a member of the division, told Al Arabiya (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=R73cxTLmPrk\" style=\"\" rel=\"noopener\">watch, runtime: 4:55<\/a>) that an outage had resulted in what he said was a backlog of 8k-9k imported cars. El Sabaa blamed the backlog for a shortage of vehicles in the market and for pushing car prices up.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Is the system down?<\/strong>\u00a0\u201cWe reached out to the Finance and Trade Ministries \u2026 the response was that there is something related to the system,\u201d El Saba said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That's not the case<\/strong>, says Captain Ossama Al Sharif, the chairman and managing director of Misr Technology Services Company (MTS).\u00a0<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND-\u00a0<\/strong><span style=\"background-color: transparent;\">Launched in 2021, the government\u2019s digital customs window Nafeza speeds up customs procedures, <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6c476e4-b695-4719-b2c4-57a24eba139c\/this-morning:-we-should-be-inking-contracts-to-link-grids-with-saudi-this-week-%2B-nafeza-is-here\" rel=\"noopener\">improves<\/a><span style=\"background-color: transparent;\"> border security, and makes it harder for importers to dodge taxes and fees. Through Nafeza, businesses importing goods at ports file shipping documents and cargo data digitally and ahead of arrival via the Advance Customs Information system that follows World Customs Organization protocol. <\/span><span style=\"background-color: transparent;\">MTS\u00a0designed, manages, and develops Nafeza and ACI in Egypt; 80% of its shareholders are state-related authorities and entities, it said in an email to Enterprise.\u00a0<\/span><\/p><p style=\"font-style: italic;padding: 0px; margin: 0px; line-height: 1.15;\"><em>Editor's note: This story was updated after publication in our email edition to reflect comment from MTS denying there has been a service outage with Nafeza or ACI.<\/em><\/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 style=\"\">#3- A new university education investment venture in the works: <\/strong>The Sovereign Fund of Egypt, along with the Higher Education Ministry and an unnamed foreign university operator, are working out a new joint venture to invest in public universities, writes <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/06\/24\/1803180\" style=\"\" rel=\"noopener\">Al Borsa<\/a>, citing Planning Minister Hala El Said. This new partnership will be inked and finalized within ten days, according to El Said.<\/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>#4- The former president of the European Investment Bank (EIB) is being investigated for<\/strong><strong> corruption and misuse of funds<\/strong> in one of the highest profile corruption probes ever launched by the world\u2019s largest multilateral development lender, reports the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/9b531104-3e84-4158-a410-6921b4b0ef07?shareType=nongift\" style=\"\" rel=\"noopener\">Financial Times<\/a>. Werner Hoyer, who ran the EIB from January 2012 until January 2024, rejected the allegations against him and promised to fully cooperate with the authorities heading up the probe.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The local angle: <\/strong>The EIB has played an important role in Egypt since 1979, and has <a target=\"_blank\" href=\"https:\/\/www.eib.org\/en\/projects\/country\/egypt\" style=\"\" rel=\"noopener\">provided<\/a> substantial financial backing to support the country\u2019s SMEs, water infrastructure, and green transition efforts. So far, the lender has put forwards EUR 15.2 bn spread between 126 projects over the 45 years it\u2019s been here.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">FX WATCH-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>The EGP weakened against the greenback to its lowest level since 21 April by the time<\/strong><strong> banks closed yesterday<\/strong>, with the national currency settling at EGP 48.37 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. The EGP was the worst performing emerging market currency yesterday, reports <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1805213562127692209\" style=\"\" rel=\"noopener\">Asharq Business<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This drop comes right after the USD breached the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce64e811-93d3-41d7-a726-be050c14a43a\/\" style=\"\" rel=\"noopener\">EGP 48 level on Sunday<\/a><\/strong> for the first time since April, pressured by a pileup of orders for FX after Egyptian banks closed for the Eid Al Adha break.<\/p><p class=\"tag-border-left\">DATA POINT- <\/p><p style=\"padding: 0px; margin: 0px; line-height: 1.15; orphans: 2; widows: 2; text-align: left;\"><strong>Government per capita spending on health is just USD 40 per year<\/strong>, Health Minister Khaled Abdel Ghaffar told <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1805161788230553755\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The World Bank\u2019s most recent <a target=\"_blank\" href=\"https:\/\/data.worldbank.org\/indicator\/SH.XPD.GHED.PP.CD?end=2022&amp;skipRedirection=true&amp;start=2000&amp;view=chart\" style=\"\" rel=\"noopener\">data set<\/a> on domestic government health expenditure put the global average at just over USD 1k.<\/p><p class=\"tag-border-left\" style=\"\">CIRCLE YOUR CALENDAR- <\/p><p style=\"padding: 0px; margin: 0px; line-height: 1.15; orphans: 2; widows: 2; text-align: left;\"><a id=\"wwtt5\"><\/a> <strong>The new capital\u2019s business dist<\/strong><strong>rict up and running by October? <\/strong>The new administrative capital\u2019s financial and business district is set to open its doors for business next October, Administrative Capital for Urban Development Chairman Khaled Abbas, told <a target=\"_blank\" href=\"https:\/\/www.mena.org.eg\/en\/news\/dbcall\/table\/textnews\/id\/10756916\" style=\"\" rel=\"noopener\">Middle Eas<\/a><a target=\"_blank\" href=\"https:\/\/www.mena.org.eg\/en\/news\/dbcall\/table\/textnews\/id\/10756916\" style=\"\" rel=\"noopener\">t News Agency<\/a>. The district will host the headquarters of the Central Bank of Egypt and Afreximbank, along with the Egyptian Stock Exchange and other important local and regional financial institutions.<\/p><p style=\"padding: 0px; margin: 0px; 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\" style=\"\">THE BIG STORY ABROAD- <\/p><p style=\"padding: 0px; margin: 0px; line-height: 1.15; orphans: 2; widows: 2; text-align: left;\"><strong>The big business story this morning: Nvidia shares have now slid more than 16% since <\/strong><strong>Thursday<\/strong>, when their rise briefly made the company the most valuable in the world ahead of Apple and Microsoft. The company\u2019s shares tumbled 7% yesterday, helping drag the Nasdaq down 1.1% for the day. (The Dow Jones Index, which doesn\u2019t include Nvidia, was up 0.7%.) That\u2019s left traders reading sheeps\u2019 entrails running technical analysis in search of a support line. <strong>Want to go deeper?<\/strong> Check out the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/7332b1f8-cf7c-4bfa-82f4-88d0deb23f98\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/stocks\/global-stocks-markets-dow-news-06-24-2024-0c66c410\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-24\/nvidia-s-13-stock-rout-has-traders-scouring-charts-for-support?srnd=homepage-middle-east&amp;sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. <\/p><p style=\"padding: 0px; margin: 0px; line-height: 1.15; orphans: 2; widows: 2; text-align: left;\"><strong>Climate change is still getting big play on the front pages <\/strong>of major global business news sites. Bloomberg looks at <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/features\/2024-06-24\/hajj-heat-deaths-saudi-arabia-s-soaring-temperatures-endanger-pilgrims\" style=\"\" rel=\"noopener\">Saudi\u2019s heat-preparedness<\/a> after some 1.3k pilgrims died on Hajj this year and a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/us-northeast-may-finally-get-relief-punishing-heat-wave-2024-06-24\/\" style=\"\" rel=\"noopener\">heat dome<\/a> remains parked over the US and parts of Canada. Dubai, meanwhile, will spend <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-24\/dubai-to-spend-8-billion-on-drainage-after-rains-paralyzed-city\" style=\"\" rel=\"noopener\">USD 8 bn upgrading its drainage system<\/a> after rains paralyzed the emirate in April.<\/p><p style=\"padding: 0px; margin: 0px; line-height: 1.15; orphans: 2; widows: 2; text-align: left;\"><strong>KEEP AN EYE ON the global logistics system<\/strong>, where an uptick in Houthi attacks on Red Sea shipping, drought in central America, and worker strikes in the United States, Canada, and Germany have \u201cintensified upheaval in shipping.\u201d Read: <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/06\/24\/business\/global-shipping-rates.html\" style=\"\" rel=\"noopener\">\u2018It\u2019s all happening again.\u2019 The supply chain is under strain<\/a> in the New York Times.<\/p><p style=\"padding: 0px; margin: 0px; line-height: 1.15; orphans: 2; widows: 2; text-align: left;\"><strong>Briefly noted: <\/strong>The US and UK press are trumpeting that <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/465b6f96-65db-4295-9aee-ef9c1339a992\" style=\"\" rel=\"noopener\">Wikileaks founder Julian Assange is<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/465b6f96-65db-4295-9aee-ef9c1339a992\" style=\"\" rel=\"noopener\">set to be freed<\/a> after striking a plea bargain with the United States. And former European Investment Bank President Werner Hoyer <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/9b531104-3e84-4158-a410-6921b4b0ef07\" style=\"\" rel=\"noopener\">is under investigation<\/a> for corruption. <\/p><p style=\"padding: 0px; margin: 0px; line-height: 1.15; orphans: 2; widows: 2; text-align: left;\"><strong>ELECTION WATCH- <\/strong>French Prime Minister Gabriel Attal takes on his two top challengers in a debate today, with President Emmanuel Macron warning of <a target=\"_blank\" href=\"https:\/\/www.politico.eu\/article\/emmanuel-macron-civil-war-far-right-national-rally-far-left-france-unbowed-france-elections\/\" style=\"\" rel=\"noopener\">\u201ccivil war\u201d<\/a> if the far-right or far-left come first at the ballot box. The two-step parliamentary election process starts on Sunday. <\/p><p style=\"padding: 0px; margin: 0px; line-height: 1.15; orphans: 2; widows: 2; text-align: left;\"><strong>Up next: <\/strong>Rishi Sunak and Labour leader Keir Starmer face off in a debate tomorrow, while Joe Biden and Donald Trump will clash on Thursday.<\/p><p style=\"padding: 0px; margin: 0px; line-height: 1.15; orphans: 2; widows: 2; text-align: left;\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/239.jpg?ssl=1\"><\/p><p style=\"padding: 0px; margin: 0px; line-height: 1.15; orphans: 2; widows: 2; text-align: left;\"><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p style=\"padding: 0px; margin: 0px; line-height: 1.15; orphans: 2; widows: 2; text-align: left;\"><strong style=\"\">In today\u2019s issue: <\/strong>We take a look at the incentives, challenges, and solutions to promoting solar adoption in residential areas. <\/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\/banking\/\">banking<\/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=\"625252 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=\"625252\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/625252\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-625252\" class=\"content-area-description single-story post-625252 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 World Ocean Month 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=\"625253\" 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=\"625253\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/world-bank-greenlights-usd-700-mn-in-development-financing\/\">\r\n                            World Bank greenlights USD 700 mn in development financing for Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/world-bank-greenlights-usd-700-mn-in-development-financing\/\" 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\/25\/world-bank-greenlights-usd-700-mn-in-development-financing\/')\">\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\/25\/world-bank-greenlights-usd-700-mn-in-development-financing\/\">\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=World Bank greenlights USD 700 mn in development financing&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/world-bank-greenlights-usd-700-mn-in-development-financing\/\">\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\/25\/world-bank-greenlights-usd-700-mn-in-development-financing\/&title=World Bank greenlights USD 700 mn in development financing\">\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=World+Bank+greenlights+USD+700+mn+in+development+financing+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F25%2Fworld-bank-greenlights-usd-700-mn-in-development-financing%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\/25\/world-bank-greenlights-usd-700-mn-in-development-financing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1503.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"625254\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/world-bank-greenlights-usd-700-mn-in-development-financing\/1503-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1503.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1503.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1503.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1503.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-625253\" class=\"content-area-description single-story post-625253 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-economy tag-enterpriseam tag-world-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.caf07842-c4a9-4dc4-80c9-cbe8c51b1863.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>World Bank funds to begin rolling in:<\/strong> The World Bank has announced that it will be providing Egypt with USD 700 mn in Development Policy Financing (DPF) to help \u201csupport the country to shift toward more private sector participation, better macroeconomic and fiscal resilience, and a greener growth trajectory,\u201d the <a target=\"_blank\" href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2024\/06\/24\/new-world-bank-us-700-million-support-to-help-egypt-achieve-more-sustainable-diversified-and-resilient-growth\" style=\"\" rel=\"noopener\">World Bank<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02JLL72inPaM1k8rrTsbXeMAnzKFWQG4DuSaRQRUqSozuWAFwicCFXmeXffp5esVVil?rdid=awEP03gdtXTqZbMF\" style=\"\" rel=\"noopener\">International Cooperation Ministry<\/a> said in separate statements yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The funding comes as <\/strong><strong>part<\/strong><strong> of a three-year USD 6 bn financing package from the bank <\/strong>that was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/19bac262-1a66-4b6e-af15-3fd23f52c1e2\/%253cmark%253eworld-bank%253c%2Fmark%253e-pledges-usd-6-bn-financing-package-for-egypt\" style=\"\" rel=\"noopener\">announced<\/a> in March shortly following the float of the EGP, which the bank said is designed to help boost private sector growth and job creation and \u201cenhance human capital outcomes, foster climate resilience, and strengthen economic management.\u201d Of the USD 700 mn included in the current DPF, USD 200 mn will be contingent on complementary financing from other development partners, the bank said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The DPF round is the first in a \u201cprogrammatic series of three operations,\u201d<\/strong> the bank continued, with this particular round targeting the advancement of reforms that include:<\/p>\n<ul>\n<li><strong>Creating a legal basis for the state ownership policy,<\/strong> strengthening the governance framework of state-owned enterprises;<\/li>\n<li><strong>Empowering the Egyptian Competition Authority <\/strong>in combating non-competitive or monopolistic M&amp;As;<\/li>\n<li><strong>Ensuring the state\u2019s assessment of payroll taxes<\/strong> in an effort to improve domestic revenue mobilization;<\/li>\n<li><strong>Reducing losses<\/strong> from the electricity distribution system;<\/li>\n<li><strong>Increasing the capacity for climate adaptation,<\/strong> with a particular focus on the financial sustainability of water and sanitation;<\/li>\n<li><strong>Building up Egypt\u2019s renewable energy<\/strong> sector;<\/li>\n<li><strong>Establishing a regulatory framework<\/strong> for the voluntary carbon credit market.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cThe government of Egypt is undertaking ambitious economic and structural reforms aimed at creating a more competitive, green and private sector-led economy. Through this budget support instrument, the DPF with the World Bank helps advance policy reforms on three of its top national priorities: building macro-fiscal resilience, enhancing economic competitiveness and improving the business environment, and supporting the green transition,\u201d International Cooperation Minister Rania Al Mashat said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Half of the USD 6 bn in funding is set to go to the government to support its economic and structural reforms, social protection programs, and its green economy transition. The other half will be distributed to the private sector through the group\u2019s International Finance Corporation in the form of equity and loans made up partly by investor funds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Part of a wider framework:<\/strong> The financing falls under the World Bank\u2019s 2023-2027 Country Partnership Framework with Egypt, under which the bank\u2019s International Bank for Reconstruction and Development (IBRD) will be lending us USD 1 bn a year through to 2027 to support private-sector job growth, health and education services, and climate measures.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"625255\" 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=\"625255\">\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\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/fx-inflows-and-exchange-rate-stability-boost-banking-sector-forecasts-says-fitch-solutions\/\">\r\n                            FX inflows and exchange rate stability boost banking sector forecasts, says Fitch Solutions                        <\/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\/25\/fx-inflows-and-exchange-rate-stability-boost-banking-sector-forecasts-says-fitch-solutions\/\" 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\/25\/fx-inflows-and-exchange-rate-stability-boost-banking-sector-forecasts-says-fitch-solutions\/')\">\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\/25\/fx-inflows-and-exchange-rate-stability-boost-banking-sector-forecasts-says-fitch-solutions\/\">\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=FX inflows and exchange rate stability boost banking sector forecasts, says Fitch Solutions&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/fx-inflows-and-exchange-rate-stability-boost-banking-sector-forecasts-says-fitch-solutions\/\">\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\/25\/fx-inflows-and-exchange-rate-stability-boost-banking-sector-forecasts-says-fitch-solutions\/&title=FX inflows and exchange rate stability boost banking sector forecasts, says Fitch Solutions\">\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=FX+inflows+and+exchange+rate+stability+boost+banking+sector+forecasts%2C+says+Fitch+Solutions+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F25%2Ffx-inflows-and-exchange-rate-stability-boost-banking-sector-forecasts-says-fitch-solutions%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\/25\/fx-inflows-and-exchange-rate-stability-boost-banking-sector-forecasts-says-fitch-solutions\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1530.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"625256\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/fx-inflows-and-exchange-rate-stability-boost-banking-sector-forecasts-says-fitch-solutions\/1530-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1530.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1530.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1530.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1530.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-625255\" class=\"content-area-description single-story post-625255 post type-post status-publish format-standard has-post-thumbnail hentry category-banking tag-banking tag-currencies tag-economy tag-enterpriseam tag-fitch-solutions tag-foreign-exchange 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\/.123bd387-8b1e-4f19-a8d1-594336c69c33.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt\u2019s banking sector ca<\/strong><strong>n breathe easier in 2024, thinks Fitch Solutions:<\/strong> Foreign currency inflows and exchange rate stability following the float of the EGP in March and the country securing some USD 57 bn in financing in 2024 have improved Fitch Solutions\u2019 forecasts for Egypt\u2019s banking sector, writes <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/06\/24\/1802777\" style=\"\" rel=\"noopener\">Al Borsa<\/a><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remittances and portfolio investments have been picking back up and strengthening the<\/strong><strong> nation\u2019s foreign asset position: <\/strong>Fitch also gave a nod to the decreasing difficulties involved in repatriating funds and increased returns on Egyptian debt instruments as a reason behind the return of portfolio investments and remittance inflows. This has contributed to the net foreign asset deficit <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea24f652-8aba-438a-a9e2-e0fc1ce09e91\/egypt%25e2%2580%2599s-net%253cmark%253e-foreign%253c%2Fmark%253e-asset-deficit-continues-to-narrow-in-april-for-third-consecutive-month\" style=\"\" rel=\"noopener\">narrowing<\/a> 87% since reaching an all-time high of USD 29.0 bn in January.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An uptick FX liquidity should have a knock-on effect on imports, arrears, and FX lending:<\/strong> Fitch expects banks to direct the uptick in inflows towards those importing non-essential goods and tackle any import backlogs, in addition to making arrear payments to oil companies and increase FX lending to companies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also in Fitch\u2019s crystal ball: <\/strong><\/p>\n<ul>\n<li><strong>Inflation: <\/strong>Fitch sees inflation rates ending the year at just over 25%.<\/li>\n<li><strong>Interest rates: <\/strong>The CBE\u2019s tightening cycle has ended for now, thinks Fitch, with interest rates expected to stay at their current levels until the end of 2024.<\/li>\n<li><strong>The EGP float will have a limited impact on the balance sheets and capital position<\/strong> of Egyptian banks, Fitch thinks, with the sector able to absorb the rise of the greenback against the EGP by about 35%. <\/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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fitch-solutions\/\">Fitch Solutions<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"625257\" 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=\"625257\">\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\">A MESSAGE FROM AUC SCHOOL OF BUSINESS EXECUTIVE EDUCATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/stay-relevant-stay-ahead-the-evolution-of-executive-education\/\">\r\n                            Stay relevant, stay ahead: the evolution of executive education                        <\/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\/25\/stay-relevant-stay-ahead-the-evolution-of-executive-education\/\" 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\/25\/stay-relevant-stay-ahead-the-evolution-of-executive-education\/')\">\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\/25\/stay-relevant-stay-ahead-the-evolution-of-executive-education\/\">\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=Stay relevant, stay ahead: the evolution of executive education&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/stay-relevant-stay-ahead-the-evolution-of-executive-education\/\">\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\/25\/stay-relevant-stay-ahead-the-evolution-of-executive-education\/&title=Stay relevant, stay ahead: the evolution of executive education\">\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=Stay+relevant%2C+stay+ahead%3A+the+evolution+of+executive+education+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F25%2Fstay-relevant-stay-ahead-the-evolution-of-executive-education%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\/25\/stay-relevant-stay-ahead-the-evolution-of-executive-education\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/244.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"625258\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/stay-relevant-stay-ahead-the-evolution-of-executive-education\/244-jpg-24\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/244.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"244.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/244.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/244.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-625257\" class=\"content-area-description single-story post-625257 post type-post status-publish format-standard has-post-thumbnail hentry category-a-message-from-auc-school-of-business-executive-education tag-a-message-from-auc-school-of-business-executive-education tag-auc tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.758dcda4-43ab-4179-be39-1bf54025df12.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Since inception, <\/strong><strong>the<\/strong><strong> AUC Sc<\/strong><strong>hool of Business Executive Education (ExecEd) has been at<\/strong><strong> the fore<\/strong><strong>front of business innovation and leadership<\/strong>, evolving to meet the changing needs of the global marketplace.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The journey of ExecEd kicked off in 1966<\/strong> and has since flourished under various names and umbrellas. The focus was initially set on becoming the professional development backbone of various sectors in Egypt. It wasn\u2019t until 1977 that we established a more structured approach to executive education at our vibrant Tahrir Campus, launching targeted programs in leadership, organizational development, management, marketing, and finance, among others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For decades, our ties with local industries have only deepened<\/strong>, equipping businesses with the tools they need to excel. We continue adapting to market needs, building on our <a target=\"_blank\" href=\"https:\/\/business.aucegypt.edu\/execed\/individual-programs\" style=\"\" rel=\"noopener\">open-enrollment<\/a> and <a target=\"_blank\" href=\"https:\/\/business.aucegypt.edu\/execed\/business-solutions\" style=\"\" rel=\"noopener\">customized program<\/a> offerings, and refining our curriculum. Our portfolio now spans everything from concise short programs to extensive multi-month diplomas, all led by seasoned industry and faculty members.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In 2012, ExecEd\u2019s open-enrollment programs hit a major milestone by debuting on the<\/strong><strong> Financial Times Executive Education Ranking<\/strong>, making them the sole business school in the Arab region and one of just three in Africa to achieve this distinction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over the past two decades, we\u2019ve shifted towards enhanced specialization and quality.<\/strong> Annual learners filtered down from 14k to 4k, totalling 250k participants overall. The intentional decrease falls in line with our goal of offering specialized programs that meet market demand. We\u2019ve streamlined our offerings from an expansive 300 to a focused 25 programs. ExecEd also exposes learners to a network of professionals with 20-30 years of experience across various industries and functions, offering a wealth of knowledge.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over the years, our focus has become more demand-driven<\/strong>, developing programs based on market gaps. Our annual <a target=\"_blank\" href=\"https:\/\/business.aucegypt.edu\/execed\/about-us\/corporate-learning-development-landscape\" style=\"\" rel=\"noopener\">Corporate Learning and Development Report<\/a> has played a key role in identifying company needs and bridging gaps between offerings and demand.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This brought in programs that are timely, relevant, and rooted in our region\u2019s needs<\/strong>, fostering industry-focused conversations, and blending local nuances with expertise from global and local partners. Our expanded portfolio now includes contemporary programs in sports management, trade, real estate, and healthcare.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our focus is not just on Egypt \u2014 we are active in the MENA and GCC regions, as well as<\/strong><strong> Africa. <\/strong>In KSA and Oman, we run healthcare and real estate programs with partners like the Saudi Commission for Health Specialties. In the UAE, we provide management and leadership programs. We\u2019re also teaming up with universities in Brazil and Italy to introduce joint programs in the MEA region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advancing the growth of hospitality management and tourism is on our agenda.<\/strong> We also aim to address gaps in professional development for these areas and are eyeing the climate and sustainability sectors. We\u2019re also working to boost our footprint in the realm of digital transformation, adapting to evolving trends such as AI, blockchain, and data analytics.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AUC School of Business ExecEd stands as a testament to continuous adaptation.<\/strong> We prioritize quality over quantity, offering specialized programs informed by real-world insights, vital for upskilling and reskilling leaders to thrive in today\u2019s evolving landscape.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sherif Kamel is professor and dean of AUC School of Business.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1527.pdf\" style=\"\" rel=\"noopener\">Read more<\/a><\/strong><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/a-message-from-auc-school-of-business-executive-education\/\">A MESSAGE FROM AUC SCHOOL OF BUSINESS EXECUTIVE EDUCATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/auc\/\">AUC<\/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=\"625259\" 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=\"625259\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/saint-gobain-eyes-usd-40-mn-glass-factory-in-sadat-city\/\">\r\n                            Saint-Gobain eyes USD 40 mn glass factory in Egypt\u2019s Sadat City                        <\/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\/25\/saint-gobain-eyes-usd-40-mn-glass-factory-in-sadat-city\/\" 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\/25\/saint-gobain-eyes-usd-40-mn-glass-factory-in-sadat-city\/')\">\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\/25\/saint-gobain-eyes-usd-40-mn-glass-factory-in-sadat-city\/\">\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=Saint-Gobain eyes USD 40 mn glass factory in Sadat City&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/saint-gobain-eyes-usd-40-mn-glass-factory-in-sadat-city\/\">\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\/25\/saint-gobain-eyes-usd-40-mn-glass-factory-in-sadat-city\/&title=Saint-Gobain eyes USD 40 mn glass factory in Sadat City\">\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=Saint-Gobain+eyes+USD+40+mn+glass+factory+in+Sadat+City+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F25%2Fsaint-gobain-eyes-usd-40-mn-glass-factory-in-sadat-city%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\/25\/saint-gobain-eyes-usd-40-mn-glass-factory-in-sadat-city\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1540.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"625260\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/saint-gobain-eyes-usd-40-mn-glass-factory-in-sadat-city\/1540-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1540.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1540.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1540.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1540.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-625259\" class=\"content-area-description single-story post-625259 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-enterpriseam tag-france tag-manufacturing tag-saint-gobain 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\/.389b7bf3-1a34-43db-9330-52b6bc814f4d.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A new investment from Saint-Gobain:<\/strong> French glass and building materials manufacturer <a target=\"_blank\" href=\"https:\/\/www.saint-gobain.com\/en\" style=\"\" rel=\"noopener\">Saint-Gobain<\/a> has filed a proposal to set up a new USD 40 mn glass factory in the Sadat City, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0tornGb8CXPinQBzkowitnYf9X1G3wofCb1fh3BzGuxzrXzP8ySM1HibDfM9RVB5Wl\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. The entire investment will be funded from abroad, the statement adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This will be the fourth glass plant Saint-Gobain sets up in Egypt,<\/strong> following a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/91216a51-8e4a-4b1a-a656-0cd3ea970800\/\" style=\"\" rel=\"noopener\">EUR 175 mn factory<\/a> \u2014 powered by a solar plant that will produce 10-MW worth of green power \u2014 in the Sokhna Industrial Zone, that the French glass maker broke ground on in March.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>These two plants roughly make up the USD 200 of investments already given the<\/strong><strong> greenlight,<\/strong> but the French company is eyeing an additional USD 100 mn of investments that it is hoping to channel into the country over the next three years, a company representative added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saint-Gobain is no stranger to Egypt:<\/strong> The company\u2019s flat glass production line in the SCZone is the <a target=\"_blank\" href=\"https:\/\/eg.saint-gobain-glass.com\/who-we-are#:~:text=With%20a%20900%2Dton%20daily,facility%20in%20the%20Middle%20East.\" style=\"\" rel=\"noopener\">largest float glass facility in the Middle East<\/a> and it also owns two building materials factories in Sadat and Amreya worth more than EUR 150 mn. The company also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/79da95f2-4af3-4bd4-888d-dc499a933f4c\" style=\"\" rel=\"noopener\">purchased<\/a> 100% of United Paints and Chemicals (Drymix) last year from Orascom Construction subsidiary United Holding Company in a EGP 785.3 mn transaction.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saint-gobain\/\">Saint-Gobain<\/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=\"625261 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=\"625261\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/625261\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-625261\" class=\"content-area-description single-story post-625261 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=\"625262\" 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=\"625262\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/frustration-and-anger-over-increased-power-outages-dominated-the-airwaves-for-the-second-consecutive-night\/\">\r\n                            Frustration and anger over increased power outages dominated the airwaves for the second consecutive night                        <\/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\/25\/frustration-and-anger-over-increased-power-outages-dominated-the-airwaves-for-the-second-consecutive-night\/\" 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\/25\/frustration-and-anger-over-increased-power-outages-dominated-the-airwaves-for-the-second-consecutive-night\/')\">\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\/25\/frustration-and-anger-over-increased-power-outages-dominated-the-airwaves-for-the-second-consecutive-night\/\">\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=Frustration and anger over increased power outages dominated the airwaves for the second consecutive night&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/frustration-and-anger-over-increased-power-outages-dominated-the-airwaves-for-the-second-consecutive-night\/\">\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\/25\/frustration-and-anger-over-increased-power-outages-dominated-the-airwaves-for-the-second-consecutive-night\/&title=Frustration and anger over increased power outages dominated the airwaves for the second consecutive night\">\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=Frustration+and+anger+over+increased+power+outages+dominated+the+airwaves+for+the+second+consecutive+night+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F25%2Ffrustration-and-anger-over-increased-power-outages-dominated-the-airwaves-for-the-second-consecutive-night%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\/25\/frustration-and-anger-over-increased-power-outages-dominated-the-airwaves-for-the-second-consecutive-night\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1552.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"625263\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/frustration-and-anger-over-increased-power-outages-dominated-the-airwaves-for-the-second-consecutive-night\/1552-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1552.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1552.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1552.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1552.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-625262\" class=\"content-area-description single-story post-625262 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows 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\/.1e3911aa-f991-47ed-b6e4-e3b4d39db89f.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egyptians across the nation tuned into the talk shows last night to catch up on the<\/strong><strong> unfolding power cuts drama:<\/strong> The extension of rolling power cuts kept the nation\u2019s pundits busy for the second day straight, after the government announced that it will carry on extending load-shedding for an \u201cextra hour\u201d until the end of the week. However, it\u2019s unclear how many were able to tune in, with certain areas of the country reporting power outages of five or more hours yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>The Electricity Ministry and Oil Ministry issued a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0Cwmiuuda1effYbQWHLM7WgdnZrdbNwv4DJHXnivoJ9tTSk4BTpi4TMYhDpdHDA8cl\" style=\"\" rel=\"noopener\">joint apology<\/a> for the unexpected \u201cextra hour\u201d of power outage on top of existing planned outages that was announced on Sunday and announced that the extension would carry on throughout the week. The ministries explained that despite efforts to prepare for an increase in demand, \u201cgiven the continued extreme heat exceeding the normal levels for this period \u2014 which many countries in the region are suffering from \u2014 this requires the extension of the load shedding plan.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Things might get worse before they get better: <\/strong>\"The electricity crisis is expected to worsen as temperatures continue to rise and fuel shortages persist,\" Amr Adib said on El Hekaya (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=kjv9Lgr_Z7I\" style=\"\" rel=\"noopener\">watch, runtime: 24:11<\/a>). Adib said he expects that power cuts will be extended to three hours throughout the summer due to the ongoing heatwave and emphasized the need for equal distribution of load shedding across regions, noting that \"equality in electricity rationing means no governorate should face longer blackouts than another.\" <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The nation\u2019s talking heads wanted answers: <\/strong>Adib also questioned the role of the House of Representatives and political parties, wondering \"where is the Mostakbal Watan Party, the majority party, and what solutions have they provided?\" Ahmed Moussa also addressed the people\u2019s frustration on the airwaves, telling his viewers that \"the anger over power cuts is justified. Egyptians have a right to uninterrupted electricity\" (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=XFneGxNtr9Q\" style=\"\" rel=\"noopener\">watch, runtime: 7:59<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The international press also picked up the story: <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egypt-temporarily-extends-daily-power-cuts-three-hours-2024-06-24\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"625264\" 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-j7xo0c1\" data-v=\"4\" data-block-id=\"j7xo0c1\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-j7xo0c1-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-j7xo0c1-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-rqm5nwc\" data-v=\"4\" data-block-id=\"rqm5nwc\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-rqm5nwc-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-rqm5nwc-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-hsmrp4c\" data-v=\"4\" data-block-id=\"hsmrp4c\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-hsmrp4c-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-hsmrp4c-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-k9cfv27\" data-v=\"4\" data-block-id=\"k9cfv27\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-k9cfv27-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-k9cfv27-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=\"625265\" 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=\"625265\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/ibrahim-al-organi-is-catching-the-attention-of-the-international-press-again-this-week\/\">\r\n                            Ibrahim Al Organi is catching the attention of the international press again this week                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/ibrahim-al-organi-is-catching-the-attention-of-the-international-press-again-this-week\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/ibrahim-al-organi-is-catching-the-attention-of-the-international-press-again-this-week\/')\">\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\/25\/ibrahim-al-organi-is-catching-the-attention-of-the-international-press-again-this-week\/\">\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=Ibrahim Al Organi is catching the attention of the international press again this week&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/ibrahim-al-organi-is-catching-the-attention-of-the-international-press-again-this-week\/\">\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\/25\/ibrahim-al-organi-is-catching-the-attention-of-the-international-press-again-this-week\/&title=Ibrahim Al Organi is catching the attention of the international press again this week\">\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=Ibrahim+Al+Organi+is+catching+the+attention+of+the+international+press+again+this+week+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F25%2Fibrahim-al-organi-is-catching-the-attention-of-the-international-press-again-this-week%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\/25\/ibrahim-al-organi-is-catching-the-attention-of-the-international-press-again-this-week\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-625265\" class=\"content-area-description single-story post-625265 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam tag-gaza tag-israel tag-middle-east-politics tag-organi-group 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\/.6dc90673-f00a-4753-8574-5bb98d79d89c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Organi Group and its chairman Ibrahim Al Organi are in the headlines again this week, <\/strong>as the international press is looking at their role in Sinai and Gaza (<a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/06\/20\/world\/middleeast\/egypt-tycoon-hala-palestinians-gaza.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/3690a2c6-a73b-4e9a-9274-67c2dc32e032\" style=\"\" rel=\"noopener\">Financial Times<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Wall Street Journal is also turning its attention to Egypt<\/strong> with a <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/israel-and-the-u-s-need-to-get-tough-on-egypt-middle-east-hamas-7dcd0db7\" style=\"\" rel=\"noopener\">vapid piece<\/a> arguing that \u201cIsrael and the US need to get tough on Egypt.\u201d<\/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\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/organi-group\/\">Organi Group<\/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=\"625266\" 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=\"625266\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/el-sisi-ratifies-hospital-privatization-bill-plus-gtex-approves-uk-subsidiary-share-sale-marseilia-group-eyes-ksa-venture-friday-ice-cream-to-ipo\/\">\r\n                            El Sisi ratifies hospital privatization bill. PLUS: GTEX approves UK subsidiary share sale, Marseilia Group eyes KSA venture, Friday Ice Cream to IPO                        <\/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\/25\/el-sisi-ratifies-hospital-privatization-bill-plus-gtex-approves-uk-subsidiary-share-sale-marseilia-group-eyes-ksa-venture-friday-ice-cream-to-ipo\/\" 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\/25\/el-sisi-ratifies-hospital-privatization-bill-plus-gtex-approves-uk-subsidiary-share-sale-marseilia-group-eyes-ksa-venture-friday-ice-cream-to-ipo\/')\">\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\/25\/el-sisi-ratifies-hospital-privatization-bill-plus-gtex-approves-uk-subsidiary-share-sale-marseilia-group-eyes-ksa-venture-friday-ice-cream-to-ipo\/\">\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=El Sisi ratifies hospital privatization bill. PLUS: GTEX approves UK subsidiary share sale, Marseilia Group eyes KSA venture, Friday Ice Cream to IPO&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/el-sisi-ratifies-hospital-privatization-bill-plus-gtex-approves-uk-subsidiary-share-sale-marseilia-group-eyes-ksa-venture-friday-ice-cream-to-ipo\/\">\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\/25\/el-sisi-ratifies-hospital-privatization-bill-plus-gtex-approves-uk-subsidiary-share-sale-marseilia-group-eyes-ksa-venture-friday-ice-cream-to-ipo\/&title=El Sisi ratifies hospital privatization bill. PLUS: GTEX approves UK subsidiary share sale, Marseilia Group eyes KSA venture, Friday Ice Cream to IPO\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=El+Sisi+ratifies+hospital+privatization+bill.+PLUS%3A+GTEX+approves+UK+subsidiary+share+sale%2C+Marseilia+Group+eyes+KSA+venture%2C+Friday+Ice+Cream+to+IPO+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F25%2Fel-sisi-ratifies-hospital-privatization-bill-plus-gtex-approves-uk-subsidiary-share-sale-marseilia-group-eyes-ksa-venture-friday-ice-cream-to-ipo%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\/25\/el-sisi-ratifies-hospital-privatization-bill-plus-gtex-approves-uk-subsidiary-share-sale-marseilia-group-eyes-ksa-venture-friday-ice-cream-to-ipo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1558.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"625267\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/el-sisi-ratifies-hospital-privatization-bill-plus-gtex-approves-uk-subsidiary-share-sale-marseilia-group-eyes-ksa-venture-friday-ice-cream-to-ipo\/1558-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1558.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1558.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1558.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1558.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-625266\" class=\"content-area-description single-story post-625266 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-concrete-fashion-group tag-egypt-post tag-enterpriseam tag-food tag-gtex-holding tag-healthcare tag-legislation tag-mena-ipos tag-post-for-investment tag-telecom-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.3b4905ee-69db-4500-8442-038d46cad6ac.mp3\"><\/audio><\/figure>\n<p class=\"tag-border-left\">LEGISLATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Hospital privatization bill gets the final greenlight:<\/strong> President Abdel Fattah El Sisi on Sunday ratified a bill allowing private entities to set up, manage, and operate healthcare facilities and public hospitals for a period of 3-15 years, according to the Official Gazette. These healthcare facilities will return under state ownership when the concessions mature. The new law went into effect as of today, and its executive regulations will be out within a month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not all hospitals and healthcare facilities though:<\/strong> The bill will not include medical facilities offering health services key to national security or basic healthcare and birth control units and centers as well as facilities operating blood and plasma collection. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The bill got approval from the House <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c6dc104-3db3-48c3-9e76-dc380f534c89\/\" style=\"\" rel=\"noopener\">in May<\/a>, after long debates between those in favor of the bill, arguing it would help attract foreign investments into Egypt\u2019s health sector, and enhance the services offered by public hospitals and healthcare units, and those against the bill, arguing it would will make healthcare too expensive for ordinary citizens.<\/p>\n<p class=\"tag-border-left\">M&amp;A-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>GTEX\u2019s board greenlights share sale of UK menswear subsidiary:<\/strong> GTEX Holding\u2019s board has approved an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/27b342ac-a7c6-4971-8373-1aa8db736c31\/saudi-egyptian-industrial-investment-mulls-reviving-bid-for-state-run-el-nasr-glass%3B-plus:-emaar-misr-pushes-forward-acquisition-plans,-gtex-holding%25e2%2580%2599s-uk-retail-unit-receives-offer\" style=\"\" rel=\"noopener\">offer<\/a> to acquire its 98.15% stake in UK menswear retail subsidiary Baird Group, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1522.pdf\" style=\"\" rel=\"noopener\">EGX disclosure<\/a>. Prime Capital was tapped to determine the fair value of Baird shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And the mystery bidder is: <\/strong>The previously unnamed related party vying for their stake was named as GTEX Holding CEO Alaa Arafa.<\/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>Marseilia Group eyes launching a Saudi arm: <\/strong>Egyptian real estate developer Marseilia Group plans to launch a Saudi arm with a EGP 10 bn investment as it prepares to roll up its sleeves on two projects in Riyadh and Qassim, <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4305823\/%D9%85%D8%B1%D8%B3%D9%8A%D9%84%D9%8A%D8%A7-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D8%AE%D8%B7%D8%B7-%D9%84%D8%A5%D9%86%D8%B4%D8%A7%D8%A1-%D8%B4%D8%B1%D9%83%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%88%D8%AA%D8%B7%D9%88%D9%8A%D8%B1-%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D9%8A%D9%86\/\" style=\"\" rel=\"noopener\">Mubasher<\/a> reported, citing statements by the company\u2019s chairman Sherif Heliw to a group of Saudi investors. He said his company was looking to develop residential, commercial, and coastal projects in the kingdom without providing further details. <\/p>\n<p class=\"tag-border-left\">IPOs-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Friday Ice Cr<\/strong><strong>eam to list shares on the EGX by the end of 2026: <\/strong>Frozen dessert maker Friday Ice Cream is planning on listing shares on the EGX following the completion of all three phases of construction of its new ice cream factory, the company\u2019s chairman Mohamed Gomaa told Al Mal (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=62IQDe5cgMk\" style=\"\" rel=\"noopener\">watch, runtime: 1:03:45<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The ice cream maker is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d2099f63-38f4-4c26-853d-61a2cd787a4d\/jica-to-soon-disburse-usd-300-mn-loan-for-the-fourth-line-of-the-cairo-metro.-plus:-tagaddod,-organi-group,-qnb-al-ahli,%253cmark%253e-friday%253c%2Fmark%253e-ice-cream,-mediterraneo,-arkan-palm\" style=\"\" rel=\"noopener\">currently in talks<\/a> 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.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Scaling sweet treats: <\/strong>Friday Ice Cream\u2019s new factory is expected to be the largest in the Middle East and will eventually reach a pasteurization unit production capacity of 30 tons per hour \u2014 significantly more than the 10 tons per hour produced by foreign companies operating in the local market, Gomaa pointed out. The company also plans to dedicate 15-20% of total production capacity to exports.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/concrete-fashion-group\/\">Concrete Fashion Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-post\/\">Egypt Post<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/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\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mena-ipos\/\">MENA IPOs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/post-for-investment\/\">Post for Investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecom-egypt\/\">Telecom Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"625268\" 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=\"625268\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/mideast-sovereign-wealth-fund-flows-to-china-up-2-2k-y-o-y-in-2023\/\">\r\n                            Mideast sovereign wealth fund flows to China up 2.2k% y-o-y in 2023                        <\/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\/25\/mideast-sovereign-wealth-fund-flows-to-china-up-2-2k-y-o-y-in-2023\/\" 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\/25\/mideast-sovereign-wealth-fund-flows-to-china-up-2-2k-y-o-y-in-2023\/')\">\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\/25\/mideast-sovereign-wealth-fund-flows-to-china-up-2-2k-y-o-y-in-2023\/\">\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=Mideast sovereign wealth fund flows to China up 2.2k% y-o-y in 2023&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/mideast-sovereign-wealth-fund-flows-to-china-up-2-2k-y-o-y-in-2023\/\">\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\/25\/mideast-sovereign-wealth-fund-flows-to-china-up-2-2k-y-o-y-in-2023\/&title=Mideast sovereign wealth fund flows to China up 2.2k% y-o-y in 2023\">\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=Mideast+sovereign+wealth+fund+flows+to+China+up+2.2k%25+y-o-y+in+2023+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F25%2Fmideast-sovereign-wealth-fund-flows-to-china-up-2-2k-y-o-y-in-2023%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\/25\/mideast-sovereign-wealth-fund-flows-to-china-up-2-2k-y-o-y-in-2023\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1534.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"625269\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/25\/mideast-sovereign-wealth-fund-flows-to-china-up-2-2k-y-o-y-in-2023\/1534-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1534.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1534.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1534.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1534.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-625268\" class=\"content-area-description single-story post-625268 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-china tag-enterpriseam tag-financial-markets tag-planet-finance tag-sovereign-wealth-funds 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\/.73d525e5-2bb3-46ff-aba2-177cfd48cf1e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The world\u2019s factory is catching the interest of Middle Eastern sovereign <\/strong><strong>wealth funds in a<\/strong><strong> big way: <\/strong>Middle East sovereign wealth funds poured some USD 2.3 bn into Chinese companies in 2023, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-24\/china-lures-2-3-billion-of-middle-east-sovereign-money-in-2023?srnd=homepage-middle-east&amp;embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing Hong Kong Monetary Authority external executive director Kenneth Hui. To put this in context, the influx of funds represents a 2.2k% y-o-y increase from the USD 100 mn China received in 2022.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When one door closes, another opens: <\/strong>The surge in China-bound funds from our region of the globe comes as the world\u2019s second most populous country found itself increasingly cut off from funds from Europe and the US that had historically been an important source of finance. The EU and US <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/896e98dd-3f94-4b11-88a5-03d68b0d3b45\/us-quadruples-tariffs-on-chinese-evs-to-100%2525\" style=\"\" rel=\"noopener\">hiked tariffs<\/a> on Chinese imports in recent years in a bid to contain the country\u2019s rise in sectors that much of the developed world sees as a threat to their own economies.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But wealth funds in the region have signaled that they\u2019re not immune from US pressure: <\/strong>Alat, the USD 100 bn AI and advanced technology investment firm created by Saudi Arabia\u2019s Public Investment Fund, made clear that it would divest from Chinese tech if requested to by the US, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6097eecd-a387-43b7-8ee0-375416c1111b\/\" style=\"\" rel=\"noopener\">EnterpriseAM Saudi<\/a> reported in May. \u201cSo far the requests have been to keep manufacturing and supply chains completely separate, but if the partnerships with China would become a problem for the US, we will divest,\u201d Alat CEO Amit Midha told Bloomberg at the time. US officials have also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d5a755f7-a5e1-4da8-a9e4-c88b3112534b\/saudi%25e2%2580%2599s-tilt-toward-silicon-valley-is-nearly-complete\" style=\"\" rel=\"noopener\">reportedly<\/a> asked Saudi to \u201cchoose between Chinese and American technology\u201d as they develop a semiconductor industry that forms the backbone of AI technology.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The UAE\u2019s G42 struck earlier this year a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/dc8d8d0b-4c49-4639-9163-b7a70cf94d79\/\" style=\"\" rel=\"noopener\">partnership with Microsoft<\/a><\/strong> after turning its back on Chinese tech <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/0cc78916-0227-4247-b601-f1bf74f38c73\" style=\"\" rel=\"noopener\">under heavy pressure from Washington<\/a>, as we have previously noted. <\/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 mixed this morning after yesterday\u2019s Nvidia-led tech selloff <\/strong>on Wall Street. US equities futures are flat, and while most major European benchmarks look set to dip at the opening bell. <\/p><p><a target=\"_blank\" id=\"t.d147beeb1b96da4c4476d8c99a5bbc43d501fa1c\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">26,902<\/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: +8.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 48.27<\/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 48.37<\/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 48.27<\/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 48.37<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,697<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: -2.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,022<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: -5.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,000<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: -1.5%)<\/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>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\">5,448<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +14.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,282<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +7.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,951<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: +9.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 86.02<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.82<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,346.00<\/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\">+0.6%<\/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 59,504.00<\/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\">-7.1% (YTD: +40.6%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 0.6% at yesterday\u2019s close<\/strong> on turnover of EGP 3.7 bn (16.6% below the 90-day average). Foreign investors were net sellers. The index is up 8.1% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>GB Corp (+6.5%), Mopco (+3.4%), and Ibnsina Pharma (+3.3%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Telecom Egypt (-6.6%), Orascom Construction (-2.5%), and Oriental Weavers (-2.0%).<\/p><p class=\"tag-border-left\">CORPORATE ACTIONS- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E-finance is selling 10 mn treasury shares<\/strong>, the state-owned fintech giant said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1510.pdf\" style=\"\" rel=\"noopener\">EGX<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1510.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf).<\/a> The transaction is being carried out by Beltone Securities Brokerage.<\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-wealth-funds\/\">Sovereign wealth funds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"625270\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">10<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/driving-solar-adoption-in-residential-areas-the-incentives-challenges-and-solutions\/\">\r\n                            Driving solar adoption in Egypt\u2019s residential areas: The incentives, challenges, and solutions<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/driving-solar-adoption-in-residential-areas-the-incentives-challenges-and-solutions\/\" 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\/goinggreens\/driving-solar-adoption-in-residential-areas-the-incentives-challenges-and-solutions\/')\">\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\/goinggreens\/driving-solar-adoption-in-residential-areas-the-incentives-challenges-and-solutions\/\">\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=Driving solar adoption in residential areas: The incentives, challenges, and solutions&url=https:\/\/enterpriseam.com\/egypt\/goinggreens\/driving-solar-adoption-in-residential-areas-the-incentives-challenges-and-solutions\/\">\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\/goinggreens\/driving-solar-adoption-in-residential-areas-the-incentives-challenges-and-solutions\/&title=Driving solar adoption in residential areas: The incentives, challenges, and solutions\">\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=Driving+solar+adoption+in+residential+areas%3A+The+incentives%2C+challenges%2C+and+solutions+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fgoinggreens%2Fdriving-solar-adoption-in-residential-areas-the-incentives-challenges-and-solutions%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\/goinggreens\/driving-solar-adoption-in-residential-areas-the-incentives-challenges-and-solutions\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1536.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=\"625271\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/driving-solar-adoption-in-residential-areas-the-incentives-challenges-and-solutions\/1536-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1536.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1536.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1536.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1536.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-625270\" class=\"content-area-description post-625270 goinggreen type-goinggreen status-publish has-post-thumbnail hentry category-going-green tag-enterprise-going-green tag-enterpriseam tag-going-green tag-green-economy tag-renewable-energy tag-solar-power 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>With power cuts and electricity prices due for a hike, why aren\u2019t more households making the shift to <\/strong><strong>solar? <\/strong>The Madbouly government is working to phase out electricity subsidies, yet households remain hesitant to install PV cells. We speak to industry experts to understand the obstacles preventing people from using solar power and find out what can be done to increase solar demand. <\/p>\n<p class=\"tag-border-left\">IN CONTEXT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re bracing for electricity price hikes: <\/strong>The government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/accde3e4-3b87-4093-b9b3-cbbc33b69f4b\/%253cmark%253eelectricity-%253c%2Fmark%253eprices-to-rise-in-july\" style=\"\" rel=\"noopener\">will hike electricity prices<\/a> in July with the beginning of the new fiscal year. On average, the hikes will exceed 20%, but studies and discussions are still underway to determine the new prices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Electricity subsidies are on the way out: <\/strong>The Madbouly government in 2020 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/78b3ac0c-8571-47a4-802c-abf1b65a5044\" style=\"\" rel=\"noopener\">laid out a<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/78b3ac0c-8571-47a4-802c-abf1b65a5044\" style=\"\" rel=\"noopener\">roadmap<\/a> to phase out subsidies by 2025 \u2014 pushing back an existing July 2022 deadline that was already an extension of a 2019 deadline penciled in way back in 2014. Most recently, Prime Minister Moustafa Madbouly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/144e0e2f-276a-429d-a414-0b2427177e53\/egypt%25e2%2580%2599s-madbouly-hints-at-pricier-bread,-fuel,-electricity\" style=\"\" rel=\"noopener\">said<\/a> that the Electricity Ministry will work on a plan as to how the government can completely cut its spending on electricity subsidies over the coming four years<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Green investment on the rise globally: <\/strong>The International Energy Agency (IEA) <a target=\"_blank\" href=\"https:\/\/www.iea.org\/reports\/world-energy-investment-2024\/overview-and-key-findings\" style=\"\" rel=\"noopener\">expects<\/a> global energy investment to exceed USD 3 tn for the very first time this year, USD 2 tn of that will go to clean energy technologies and infrastructure. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Trying to boost local demand:<\/strong> Solar power players are currently working to attract more customers \u2013 be it residential or commercial, Hatem Tawfik, Cairo Solar managing director, told Enterprise. The Sustainable Energy Development Association has put forward a number of proposals aimed at accelerating residential demand for clean energy, particularly solar energy, Tawfik added.<\/p>\n<p class=\"tag-border-left\">INCENTIVES ARE KEY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Solar companies need a helping hand: <\/strong>Solar plant components have become very expensive to import, especially after the float of the EGP, Tawfik explained. Some 70% of the costs of solar power plants are denominated in USD due to the import of solar panels, BeNeshty Solar Chairman Romany Hakeem <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/51149763-df66-4ee4-bd6f-87a84b7963c7\/why-should-egypt-double-down-on-manufacturing-solar-panels%3F\" style=\"\" rel=\"noopener\">previously<\/a> told us, adding that some of the solar companies have opted to locally assemble solar panels to cut down the installation costs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other obstacles include: <\/strong>Private sector players can\u2019t use the state\u2019s electricity grid to transmit electricity to their end clients \u2014 the state is working on resolving this issue, having recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/397bbe91-ee0e-45fe-855c-37c89c14795d\/shareholders-can-buy-into-qalaa%25e2%2580%2599s-debt-today\" style=\"\" rel=\"noopener\">launched an initiative<\/a> which will allow the private sector to use the state\u2019s electricity grid to transmit electricity to their end clients.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>To help sweeten the pot <\/strong>the state should look into introducing custom breaks for PV cell imports to help solar power players cut down on costs, Hakeem said. He also pointed to possibly introducing VAT breaks, a move which would cut down on the cost of solar plants by 20-25%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a good offer: <\/strong>Whatever losses the state ends up suffering from these proposed tax and custom breaks will be compensated by a reduced natural gas bill, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE, on the client side: <\/strong>Clients looking to install solar PV cells on their roofs are faced with a cap on the amount of energy they can produce and issues concerning roof ownership. They also have to decide on one of the many private solar companies in the market, each of which offers different installation fees and net metering.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This raises the need for customer-focused incentives: <\/strong>Tawfik suggests that customers should receive tax incentives, such as property tax breaks, when installing PV cells on their rooftops. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That could also include: <\/strong>Allowing residential buildings to share or sell excess energy, similar to the system in place for industrial facilities, could stimulate solar energy use, Tawfik said. He also proposed creating a mechanism for establishing low-capacity plants, to attract low-consumption households. Collective plants within residential neighborhoods, under a single distribution company, could further drive sector growth with standardized procedures and fees.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also preventing the shift to solar: <\/strong>The 10-kWh cap on residential solar production is holding households back from making the shift to solar, Hakeem said, adding that some households need between 15-25 kWh to keep the lights on. Meanwhile, larger units like hospitals and warehouses can\u2019t even get the greenlight to install PV cells due to the production cap. <\/p>\n<p class=\"tag-border-left\">EFFORTS ARE ALREADY UNDERWAY TO INCREASE SOLAR USE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The state has taken some steps in the right direction: <\/strong>The government launched a website <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/57b465ed-dcf5-4dbf-996c-22f584ba787b\" style=\"\" rel=\"noopener\">earlier this year<\/a> to streamline the installation of solar panels for households and companies in a bid to fast-track its goal of increasing the share of renewables in the country\u2019s energy mix as it eyes generating 42% of electricity from renewable sources by 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top green economy stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>EBRD weigh backing Masdar-Infinity wind farm:<\/strong> The European Bank for Reconstruction and Development (EBRD) is mulling over extending a USD 71.7 mn senior loan to finance a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/284c8ae0-118a-4bbc-b1b9-9f46c1e50fba\/\" style=\"\" rel=\"noopener\">200 MW wind farm in Ras Ghareb<\/a> developed and operated by the UAE\u2019s Masdar and Infinity Power.<\/li>\n<li><strong>2023 was a big year for green hydrogen in the SCZone:<\/strong> The Suez Canal Economic Zone (SCZone) signed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/57787ea1-e604-46f2-ba50-a8958eb93a91\/\" style=\"\" rel=\"noopener\">USD 10.8 bn worth of green hydrogen and ammonia<\/a> projects in 2023, the second largest value in Africa after Mauritania.<\/li>\n<li><strong>Used cooking oil recycler Tagaddod sees interest from Dutch development bank<\/strong><strong> FMO:<\/strong> Dutch entrepreneurial development bank FMO is mulling a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d2099f63-38f4-4c26-853d-61a2cd787a4d\/\" style=\"\" rel=\"noopener\">USD 1.2 mn equity investment in homegrown waste management startup Tagaddod<\/a> to fund its expansion in Egypt and across the MENA region<\/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\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/solar-power\/\">solar power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/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=\"625272\" 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\/25\/625272\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-625272\" class=\"content-area-description single-story post-625272 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>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>World Bank greenlights funds | Fitch\u2019s banking forecasts improve | Saint-Gobain eyes another factory | CIB halves FX markup fees<\/p>\n","protected":false},"featured_media":625249,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-625248","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"06eb578a-ff32-4041-b7ec-1e18e68c98ac","teaser":"World Bank greenlights funds | Fitch\u2019s banking forecasts improve | Saint-Gobain eyes another factory | CIB halves FX markup fees","photo_url":"https:\/\/ent.news\/2024\/1\/178.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>Extended power cuts to run until the end of the week - 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\/extended-power-cuts-to-run-until-the-end-of-the-week\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Extended power cuts to run until the end of the week\" \/>\n<meta property=\"og:description\" content=\"World Bank greenlights funds | Fitch\u2019s banking forecasts improve | Saint-Gobain eyes another factory | CIB halves FX markup fees\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/extended-power-cuts-to-run-until-the-end-of-the-week\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-17T08:29:35+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/178.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\/extended-power-cuts-to-run-until-the-end-of-the-week\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/extended-power-cuts-to-run-until-the-end-of-the-week\/\",\"name\":\"Extended power cuts to run until the end of the week - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/extended-power-cuts-to-run-until-the-end-of-the-week\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/extended-power-cuts-to-run-until-the-end-of-the-week\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/178.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-06-25T00:00:00+00:00\",\"dateModified\":\"2025-12-17T08:29:35+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/extended-power-cuts-to-run-until-the-end-of-the-week\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/issues\/extended-power-cuts-to-run-until-the-end-of-the-week\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/extended-power-cuts-to-run-until-the-end-of-the-week\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/178.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/178.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/extended-power-cuts-to-run-until-the-end-of-the-week\/#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\":\"Extended power cuts to run until the end of the week\"}]},{\"@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":"Extended power cuts to run until the end of the week - 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\/extended-power-cuts-to-run-until-the-end-of-the-week\/","og_locale":"en_US","og_type":"article","og_title":"Extended power cuts to run until the end of the week","og_description":"World Bank greenlights funds | Fitch\u2019s banking forecasts improve | Saint-Gobain eyes another factory | CIB halves FX markup fees","og_url":"https:\/\/enterpriseam.com\/egypt\/issues\/extended-power-cuts-to-run-until-the-end-of-the-week\/","og_site_name":"EnterpriseAM Egypt","article_modified_time":"2025-12-17T08:29:35+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/178.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/extended-power-cuts-to-run-until-the-end-of-the-week\/","url":"https:\/\/enterpriseam.com\/egypt\/issues\/extended-power-cuts-to-run-until-the-end-of-the-week\/","name":"Extended power cuts to run until the end of the week - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/extended-power-cuts-to-run-until-the-end-of-the-week\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/extended-power-cuts-to-run-until-the-end-of-the-week\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/178.jpg?fit=%2C&ssl=1","datePublished":"2024-06-25T00:00:00+00:00","dateModified":"2025-12-17T08:29:35+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/extended-power-cuts-to-run-until-the-end-of-the-week\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/issues\/extended-power-cuts-to-run-until-the-end-of-the-week\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/extended-power-cuts-to-run-until-the-end-of-the-week\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/178.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/178.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/extended-power-cuts-to-run-until-the-end-of-the-week\/#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":"Extended power cuts to run until the end of the week"}]},{"@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\/625248","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\/625248\/revisions"}],"predecessor-version":[{"id":625296,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/625248\/revisions\/625296"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/625249"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=625248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=625248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=625248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}