{"id":626170,"date":"2024-06-26T00:00:00","date_gmt":"2024-06-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=626170"},"modified":"2025-12-17T09:00:57","modified_gmt":"2025-12-17T09:00:57","slug":"govt-to-end-summer-blackouts-by-third-week-of-july-with-usd-1-2-bn-energy-import-plan","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/govt-to-end-summer-blackouts-by-third-week-of-july-with-usd-1-2-bn-energy-import-plan\/","title":{"rendered":"Gov\u2019t to end summer blackouts by third week of July with USD 1.2 bn energy import plan"},"content":{"rendered":"<section id=\"626172\" 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=\"626172\">\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\/26\/the-eu-egypt-investment-conference-is-just-three-days-away\/\">\r\n                            The EU-Egypt Investment conference is just three days away                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1255.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"626173\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/26\/the-eu-egypt-investment-conference-is-just-three-days-away\/1255-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1255.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1255.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1255.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1255.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626172\" class=\"content-area-description single-story post-626172 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-eu tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.c1bc25d3-a0da-41f3-8583-268587f3ad17.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends.<\/strong> The local business news has been heating up throughout the week, but unfortunately not as much as the weather. Rolling blackouts are once again the main topic of conversation in the local press and on every street corner with the government responding to public frustration with a pledge to do away with blackouts over the summer months starting the third week of July. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve battled through power cuts to bring you today\u2019s issue<\/strong> with the latest on the power cut saga, promising news of a return to normalcy in the banking system as more banks slash FX commissions in half, the race to be the first fund tracking the EGX33, and much, much more. So without further ado, let\u2019s jump into today\u2019s issue. <\/p><p class=\"tag-border-left\">PSA-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>Private sector workers will also be getting a long weekend <\/strong>to mark the eleventh anniversary of the 30 June revolution, the Labour Ministry said in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/RC8YVSBMtWGPFg7L\/\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. We <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0dbd8b6a-2edb-437d-b780-8adb3b1b61ec\/cib-halves-fx-markup-fees-to-5%2525-and-eases-card-limits-abroad\" style=\"\" rel=\"noopener\">heard<\/a> earlier this week that the public sector will be taking the day off, but we\u2019re still waiting for confirmation that banks and the EGX 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\"><a id=\"wwtt2\"><\/a> <strong>WEATHER- It\u2019s more of the same 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>Alexandria is also not looking too different to yesterday<\/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=\"wwtt4\"><\/a> <strong>In the House today<\/strong><strong>:<\/strong> MPs are set to vote on a USD 47 mn extension to a USD 125 mn USAID grant to back rural development. The House will also be voting on whether Egypt should join the <a target=\"_blank\" href=\"https:\/\/www.fedagroup.org\/\" style=\"\" rel=\"noopener\">Fund for Export Development in Africa<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Tourism Minister Ahmed Issa will be attending a Tourism Committee meeting<\/strong> today to look further into the causes that led to the catastrophic death count among Egyptian pilgrims this year.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> MPs yesterday gave preliminary approval to amendments to the law regulating the performance of economic courts, and approved a EUR 250 mn loan agreement with the Asian Infrastructure Investment Bank to turn Alexandria\u2019s Abu Qir railway into a metro.<\/p><p class=\"tag-border-left\">HAPPENING SOON-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T-minus three days until the EU-Egypt Investment Conference kicks off: <\/strong>EU Commission Head Ursula von der Leyen and other big hitters will be making their way to Egypt soon for the conference. In the meantime, the cabinet has been reviewing projects, contracts, and MoUs set to be inked at the conference, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02CdCuEhhvSHdQaXRzf8p2yKnYDTJhJd7jjxLBEDDtoPWqQxDmNfj6X49GbtyWW7bkl\" style=\"\" rel=\"noopener\">statement<\/a>. The cabinet statement pointed to sustainable infrastructure, renewable energy, health education, food security, transport, water and sanitation, and SMEs as areas to watch out for.<\/p><p class=\"tag-border-left\">DEBT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>CBE<\/strong><strong> pulled in EGP 1.1 tn in<\/strong><strong> liquidity from local banks following the Eid break:<\/strong> The Central Bank of Egypt took accepted bids from 32 banks for EGP 1.1 tn in fixed-rate deposits at a rate of 27.75% during its first weekly fixed-rate auction after the Eid Al Adha break, according to <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/auctions\/fixed-rate-deposits\" style=\"\" rel=\"noopener\">data<\/a> from the central bank. <\/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\">CIRCLE YOUR CALENDAR-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>Attention, entrepreneurs and startup owners:<\/strong> Banque Misr has launched the third iteration of its <a target=\"_blank\" href=\"https:\/\/www.banquemisr.com\/Home\/Pages\/TEQDAR\" style=\"\" rel=\"noopener\">Teqdar<\/a> startups accelerator program, where small entrepreneurs get the chance to get first-hand insights and help form experts in technical support, investment, and marketing, and potentially could get up to USD 125k in funding to grow their businesses. Startup owners looking to participate in the program have until 4 July to fill out application forms (<a target=\"_blank\" href=\"https:\/\/app.babele.co\/application-definition\/211\" style=\"\" rel=\"noopener\">here<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An eclectic mix of stories is playing out across the front pages of the global business <\/strong><strong>press<\/strong>, with coverage of the EU\u2019s latest bid to \u201ctame\u201d big tech playing out alongside stories about Volkswagen, Citigroup, and the prospect of war in Asia. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Financial Times is going all-in with its coverage of how European Union regulators <\/strong><strong>are looking to bring Big Tech to heel. <\/strong>Earlier this week, the bloc <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/898338c2-b9fd-4494-be3f-75b7c669c705\" style=\"\" rel=\"noopener\">accused Apple of breaking so-called \u201cgatekeeper rules\u201d<\/a>, for which they\u2019re threatening to fine the company up to 10% of its global revenues. Yesterday, they <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/eb83bb45-84b3-4c58-9589-684029d23243\" style=\"\" rel=\"noopener\">went after Microsoft<\/a> with antitrust violations over Teams.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Those are just the latest charges the EU has levied against big US tech firms, and Apple <\/strong><strong>is sending a message of its own: <\/strong>The company is <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/360751cb-7a22-48e0-9b00-6a30ff41dcfe\" style=\"\" rel=\"noopener\">delaying the rollout to users in the EU<\/a> of a bunch of new features in the new iOS due out this fall \u2014 including Apple Intelligence \u2014 because of uncertainty about how the EU will view them under the Digital Markets Act.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A must read <\/strong>for those of you who want to go deeper: <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1f479787-110a-4bc1-86a4-b91076256e5c\" style=\"\" rel=\"noopener\">What are the battle lines between the EU<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1f479787-110a-4bc1-86a4-b91076256e5c\" style=\"\" rel=\"noopener\">and Big Tech?<\/a> <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Volkswagen<\/strong> is getting prominent front-page play in <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e465b45f-5d6d-4903-8c36-216c1b453581\" style=\"\" rel=\"noopener\">the FT<\/a>, the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/autos\/volkswagen-to-invest-up-to-5-billion-into-ev-maker-rivian-8c121825?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street<\/a><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/autos\/volkswagen-to-invest-up-to-5-billion-into-ev-maker-rivian-8c121825?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Journal<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.handelsblatt.com\/unternehmen\/industrie\/volkswagen-vw-schmiedet-fuenf-milliarden-dollar-joint-venture-mit-rivian\/100047890.html\" style=\"\" rel=\"noopener\">Handelsblatt<\/a> after saying it will invest up to USD 5 bn in EV maker <strong>Rivian<\/strong> and <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/banking\/citigroup-jane-fraser-turnaround-bd6b081f?mod=hp_lead_pos7\" style=\"\" rel=\"noopener\">the FT<\/a> says time is running out for Jane Fraser\u2019s turnaround bid at <strong>Citigroup<\/strong>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CLOSER TO HOME:<\/strong><\/p><ul>\n<li><strong>The Israeli military must start drafting ultra-Orthodox Jews<\/strong>, the country\u2019s supreme court has ruled. (<a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/06\/25\/world\/middleeast\/israel-military-ultra-orthodox-jews-supreme-court.html\" style=\"\" rel=\"noopener\">New York Times<\/a>)<\/li>\n<li><strong>Rioters protesting taxation in Kenya<\/strong> tried to storm the country\u2019s parliament. Five have so far been killed in clashes with police. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/young-kenyan-tax-protesters-plan-nationwide-demonstrations-2024-06-25\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>JUST WHAT WE NEED: Another regional war. <\/strong>The Philippines\u2019 ambassador to Washington, Jose Manuel Romualdez, has for months been beating the drum about the prospect that conflict with China over a reef in the South China Sea could in turn spark a regional war. He\u2019s previously talked up the idea with the <a target=\"_blank\" href=\"https:\/\/www.globaltimes.cn\/page\/202312\/1303734.shtml\" style=\"\" rel=\"noopener\">Japanese press<\/a>, and President Ferdinand Marcos Jr. recently <a target=\"_blank\" href=\"https:\/\/www.aljazeera.com\/news\/2024\/6\/23\/philippines-wont-be-intimated-but-wont-start-war-amid-row-with-china\" style=\"\" rel=\"noopener\">said in a speech<\/a> that it won\u2019t start the war \u2014 but \u201cwon\u2019t be intimidated\u201d by China, either. The <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b159b5a6-ba06-401c-8585-bc71ad73a69f\" style=\"\" rel=\"noopener\">Financial Times<\/a> has since lined up its own interview with Romualdez, and it\u2019s getting front-page play this morning.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2503.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We take a look at the EU\u2019s plan to put aside EGP 100 bn to invest in Egypt\u2019s drinking water infrastructure through 2030. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"626174 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=\"626174\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/26\/626174\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626174\" class=\"content-area-description single-story post-626174 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>\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=\"626175\" 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=\"626175\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/26\/government-pledges-to-end-power-cuts-by-third-week-of-july-with-usd-1-2-bn-set-aside-for-energy-imports-and-other-initiatives\/\">\r\n                            Egyptian government pledges to end power cuts by third week of July with USD 1.2 bn set aside for energy imports and other initiatives                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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            <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1639.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"626176\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/26\/government-pledges-to-end-power-cuts-by-third-week-of-july-with-usd-1-2-bn-set-aside-for-energy-imports-and-other-initiatives\/1639-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1639.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1639.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1639.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1639.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626175\" class=\"content-area-description single-story post-626175 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-electricity tag-energy tag-enterpriseam tag-fertilizers tag-oil-and-gas wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.4ed4e283-b6fe-493d-9677-e290f9f13ce7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The government says it has a plan to put an end to power cuts this summer:<\/strong> Prime Minister Mostafa Madbouly delivered a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid06tzNDQhfmcHARHm1NzApQFa1FS7kh4g4JiMxqa8cPPFBjuG7iZuQfUeNx2VF923nl\" style=\"\" rel=\"noopener\">televised statement<\/a> to apologize to the people and lay out a plan to end power cuts for the summer months and eventually do away with them for good yesterday. Madbouly\u2019s interjection follows the build-up of public frustration and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ecdbc47c-bd17-416c-9bd4-a6f86eaf3ae7\/frustration-and-anger-over-increased%253cmark%253e-power%253c%2Fmark%253e-outages-dominated-the-airwaves-for-the-second-consecutive-night\" style=\"\" rel=\"noopener\">anger on the airwaves<\/a> against the extension of load shedding by an \u201cextra hour\u201d on top of the already allotted two-hour outages until the end of the week that saw some areas reporting outages of five or more hours per day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Say goodbye to power cuts by July: <\/strong>Madbouly penciled in the third week of July as when the country will be ready to \u201cstop cutting electricity completely throughout the summer period.\u201d However, Madbouly clarified that the current \u201cone hour\u201d extension will continue as planned until the end of the week and that power cuts will resume after the summer months until the end of year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government thinks part of the solution is to spend its way out of the problem:<\/strong> Madbouly laid out a USD 1 bn plan to import fuel to power energy plants till the end of the year, in addition to USD 180 mn to import 300 tons of mazut next week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s also not just a supply-side issue: <\/strong>Alongside upping supply, the government wants to lessen energy demand by closing all shops and malls \u2014 with the exception of supermarkets, restaurants, and pharmacies \u2014 by 10pm. Restaurants will be allowed to run until 1am.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You at home can also play a role in getting the lights back on: <\/strong>Madbouly also turned to people at home to help out by rationalizing energy use. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government is also working to spread out power cuts more fairly: <\/strong>President Abdel Fattah El Sisi has directed the government to fairly distribute power cuts among the nation\u2019s populace alongside its efforts to reduce powercuts overall, and instructed the government to work to end the problem as soon as possible, an unnamed government source reportedly told <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/extranewstv\/posts\/pfbid0RQR5oRzUiHetXTzSeugRhYvQjdt1jkSvg12h9da4Bgk24jyXMkcK322wDzaJPAMyl\" style=\"\" rel=\"noopener\">Extra News<\/a> prior to Madbouly\u2019s presser.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The surprise week-long extension of additional outages this week came as a result of a<\/strong><strong> gas field in a \u201cneighboring country\u201d being offline for a 12-hour period,<\/strong> Madbouly said, without specifying the country.<\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>The notoriously energy-intensive fertilizer industry in particular has been having a rough time:<\/strong> High temperatures, increasing electricity consumption prices, and cuts to the regional gas supply have led Abu Qir Fertilizers to cease natural gas supplies to its plants \u201cuntil improvement in the operating conditions of the network,\u201d the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1579.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. Sidi Kerir Petrochemicals also announced a total shutdown of operations in its plants due to a \u201clack of feed gasses,\u201d it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1616.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a> to the bourse.<\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>But supplies to the industry should be back to normal by the end of the week: <\/strong>With temperatures expected to soon start cooling, gas supplies to fertilizer factories should be back to normal levels by the end of the week, an Oil Ministry official told Enterprise.<\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>The newly-arrived LNG regasification unit should also be up and running soon:<\/strong> Supply-side pressures should ease once the LNG regasification unit in the Gulf of Suez comes online within days as it will speed up the process of regasifying and pumping LNG shipments to industries and power plants, the Oil Ministry source added. Another government source confirmed that Egypt will also be welcoming mazut shipments from KSA.<\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>Just in time: <\/strong>State gas firm EGAS is reportedly looking to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/d00163c6-857e-411a-b537-a369671e23a3\/egypt-eyes-17-lng-shipments-over-the-next-three-months-in-its-biggest-tender-in-years\" style=\"\" rel=\"noopener\">acquire<\/a> seven shipments of LNG cargoes in July, six more in August, and four more in September in a tender that closes today, in what is set to be its largest shipment of LNG in years.<\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>The international press also got a hold of the story: <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egypt-needs-import-118-billion-fuel-end-power-cuts-pm-says-2024-06-25\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-25\/egypt-plans-1-2-billion-of-energy-imports-to-end-power-cuts\" style=\"\" rel=\"noopener\">Bloomberg<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fertilizers\/\">fertilizers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"626177\" 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           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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=\"626178\" 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=\"626178\">\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\">FX WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/26\/banque-misr-and-nbe-follow-cib-in-halving-fx-commissions-and-raising-credit-card-limits\/\">\r\n                            Banque Misr and NBE follow CIB in halving FX commissions and raising credit card limits                        <\/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\/26\/banque-misr-and-nbe-follow-cib-in-halving-fx-commissions-and-raising-credit-card-limits\/\" target=\"_blank\">\n                    Open in 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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/26\/banque-misr-and-nbe-follow-cib-in-halving-fx-commissions-and-raising-credit-card-limits\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1625.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"626179\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/26\/banque-misr-and-nbe-follow-cib-in-halving-fx-commissions-and-raising-credit-card-limits\/1625-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1625.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1625.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1625.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1625.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626178\" class=\"content-area-description single-story post-626178 post type-post status-publish format-standard has-post-thumbnail hentry category-fx-watch tag-banking tag-banque-misr tag-enterpriseam tag-foreign-exchange tag-fx-watch 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\/.4e93ec06-6c01-4f24-9108-5724d03eb7ba.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Banque Misr and NBE slash FX markup fees in half<\/strong><strong>:<\/strong> Banque Misr and the National Bank of Egypt are lowering their FX markup fees to 5% from 10% and raising their FX credit card limits by 50%, Banque Misr and Federation of Egyptian Banks Chairman Mohamed El Etreby told <a target=\"_blank\" href=\"https:\/\/x.com\/CNBCArabia\/status\/1805493794902532363\" style=\"\" rel=\"noopener\">CNBC Arabia<\/a>. The new limits bring Banque Misr\u2019s spending cap outside Egypt on its highest category of cards to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1584.pdf\" style=\"\" rel=\"noopener\">the FX equivalent of EGP 300k (pdf)<\/a> and the NBE\u2019s to <a target=\"_blank\" href=\"https:\/\/www.nbe.com.eg\/NBE\/E\/#\/AR\/ProductCategory?inParams=%7B%22CategoryID%22%3A%22CreditCardsID%22%7D\" style=\"\" rel=\"noopener\">the FX equivalent of EGP 240k<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CIB was the first to make the move: <\/strong>The Commercial International Bank announced the day before that it would be <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0dbd8b6a-2edb-437d-b780-8adb3b1b61ec\/cib-halves-fx-markup-fees-to-5%2525-and-eases%253cmark%253e-card%253c%2Fmark%253e%253cmark%253e-limits%253c%2Fmark%253e-abroad\" style=\"\" rel=\"noopener\">lowering<\/a> its FX markup fees and increasing spending limits, with the bank\u2019s FX fee halving to 5% and monthly purchases abroad capped at the equivalent of EGP 100k-300k, up from EGP 75k-200k, depending on the type of card.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Back to normalcy? <\/strong>These changes may spell the beginning of a return to normalcy for the banking sector, which has been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8d4e1310-8476-4983-bf26-83593b2f6167\/%253cmark%253emajor%253c%2Fmark%253e-local%253cmark%253e-banks%253c%2Fmark%253e-set-withdrawal%253cmark%253e-limits%253c%2Fmark%253e%253cmark%253e-on%253c%2Fmark%253e-using-debit-and-credit-cards-abroad-%2B-cbe-reportedly-mulls-allowing-ndfs-to-trade\" style=\"\" rel=\"noopener\">using FX restrictions<\/a> to manage the country\u2019s currency crisis since October 2022 by conserving hard currency assets. Higher spending limits and lower commission fees may also help water down rumors of a renewed USD shortage that emerged as the EGP slid in value against the greenback following the Eid Al Adha break.<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fx-watch\/\">FX WATCH<\/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=\"626180\" 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=\"626180\">\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 BCG<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/26\/green-hydrogen-offtakes-critical-to-fulfilling-european-markets-sustainable-energy-needs-and-accelerating-egypts-eur-76-bn-investment-deal-pipeline\/\">\r\n                            Green hydrogen offtakes critical to fulfilling European market\u2019s sustainable energy needs and accelerating Egypt's EUR 76 bn investment deal pipeline                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/26\/green-hydrogen-offtakes-critical-to-fulfilling-european-markets-sustainable-energy-needs-and-accelerating-egypts-eur-76-bn-investment-deal-pipeline\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/246.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"626181\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/26\/green-hydrogen-offtakes-critical-to-fulfilling-european-markets-sustainable-energy-needs-and-accelerating-egypts-eur-76-bn-investment-deal-pipeline\/246-jpg-25\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/246.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"246.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/246.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/246.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626180\" class=\"content-area-description single-story post-626180 post type-post status-publish format-standard has-post-thumbnail hentry category-a-message-from-bcg tag-bcg tag-enterpriseam tag-green-hydrogen tag-renewables 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\/.eb23c98a-8bb4-4ba3-a8b6-0de28d2f7524.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As the Egypt-EU I<\/strong><strong>nvestment Conference kicks off this <\/strong><strong>Saturday<\/strong><strong>, the spotlight will be on<\/strong><strong> Egypt's ambitious EUR 76 bn green hydrogen deal pipeline.<\/strong> This partnership offers a golden moment for both Egypt and the European Union to propel their sustainable energy agendas. For the EU, securing green hydrogen is crucial for achieving its climate neutrality targets and reducing reliance on fossil fuels. For Egypt, it promises economic growth, job creation, and strategic export advantages.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt and the EU are already closely intertwined in trade<\/strong>, with the EU being Egypt's top trade partner, accounting for about 37% of Egypt\u2019s exports and 25% of imports in 2022. The EU's demand for green hydrogen is soaring, driven by robust climate policies like the European Green Deal, the Fit for 55 package, and the EU Emissions Trading System. The REPowerEU Plan further outlines the EU's need to import 10 mn tonnes of green hydrogen by 2030 \u2013 targeted for provision from various sources to ensure resilience.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This dovetails perfectly with Egypt\u2019s ambitions to become a regional green hydrogen<\/strong><strong> hub<\/strong>, targeting 8% of the global market by 2040 and reaching 5.5 mn tonnes per annum of production capacity by 2030. In 2023, Egypt launched its first green hydrogen production facility in the Suez Canal Economic Zone (SCZone), with major stakeholders including Scatec, Fertiglobe, Orascom Construction, and the Sovereign Fund of Egypt involved. The hydrogen produced here will be used to create green ammonia at Fertiglobe\u2019s ammonia plants.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Several factors give Egypt a competitive edge in this arena.<\/strong> Firstly, its environmental conditions are ideal for low-cost renewable energy generation, with a goal of renewables making up 42% of the energy mix by 2035. Geographically, Egypt's proximity to EU markets ensures more efficient export routes. Logistically, Egypt's ports and terminals, including those within the SCzone, and existing and refurbished gas pipelines provide the base infrastructure needed to accelerate regional hydrogen trade. Finally, the quasi-government institutional setup of the Sovereign Fund of Egypt enables it to co-invest with the local and international private sector to derisk such investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>However, realizing this potential requires taking the leap with significant commitment on<\/strong><strong> all sides.<\/strong> Currently, green hydrogen production costs are about three times higher than natural gas due to technology costs. These costs are expected to drop to twice that of natural gas by around 2030 and achieve cost competitiveness between 2040 and 2050. Securing off-take agreements is vital for project sustainability, as stakeholders recognize the strategic and decarbonization value of green hydrogen.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The path ahead involves overcoming cost challenges and securing these crucial offtake<\/strong><strong> agreements.<\/strong> Yet, the foundation for a thriving green hydrogen market between Egypt and the EU is clearly being laid. This collaboration not only promises mutual economic and environmental benefits, but also positions Egypt as a pivotal player in the global green hydrogen landscape.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/www.bcg.com\/offices\/cairo\" target=\"_blank\" rel=\"noopener\"><i>Get in touch with the BCG team at the conference.<\/i><\/a><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Co-authors:<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bassem Fayek, Managing Director and Partner at Boston Consulting Group (BCG), Cairo<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Francesco Palmieri, Managing Director &amp; Senior Partner at BCG, Milan <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Esben Hegnsholt, Managing Director and Partner at BCG, Copenhagen<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Erik Rakhou, Associate Director at BCG, Green Energy, Amsterdam<\/strong><\/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\/bcg\/\">BCG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"626182\" 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=\"626182\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/26\/connect-money-secures-usd-8-mn-in-seed-funding-to-expand-its-range-of-banking-services-in-north-africa\/\">\r\n                            Egyptian fintech Connect Money secures USD 8 mn in seed funding to expand its range of banking services in North Africa                        <\/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\/26\/connect-money-secures-usd-8-mn-in-seed-funding-to-expand-its-range-of-banking-services-in-north-africa\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Egypt-focussed private equity firm Lorax Capital Partners, OneStop Capital, and MDP also took part in the funding round.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where are the funds going? <\/strong>The funds will be used to launch five new business verticals in North Africa that will be announced individually that the startup thinks will help it emerge as \u201cthe go-to platform for businesses seeking seamless banking services.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Connect Money?<\/strong> Founded in 2023, Connect Money helps businesses give their customers debit and credit cards without having to build their own financial technology or get special licenses from the gov\u2019t. They issue debit and credit cards, offer digital payment and financing tools, and connect businesses with a large network of over 20k marketplace partners. To date, 300k cards have been issued by the firm. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What investors see in the startup: \u201c<\/strong>Connect Money's expertise, deep market knowledge, and cutting-edge integrated tech will greatly enhance accessibility and efficiency in financial services, benefiting the fintech-enabled ecosystem and transforming banking operations while positioning Egypt as a valuable hub for exporting embedded finance services,\u201d said Disruptech Ventures Managing Partner Mohamed Okasha.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to hear more about one of its co-founders?<\/strong> Enterprise interviewed triple-entrepreneur Ayman Essawy for our <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dcd161eb-8313-4539-acdc-440c08e229d1\/meet-our-founder-of-the-week:-lucky%25e2%2580%2599s-ayman-essawy\" style=\"\" rel=\"noopener\">Founder of the Week<\/a> column in EnterprisePM Egypt.<\/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\/startup-watch\/\">Startup watch<\/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=\"626184 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=\"626184\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/26\/626184\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626184\" class=\"content-area-description single-story post-626184 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/186.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"626185\" 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=\"626185\">\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\/26\/rolling-blackouts-remained-front-and-center-on-the-airwaves-for-the-third-consecutive-night\/\">\r\n                            Rolling blackouts remained front and center on the airwaves for the third 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 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1645.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"626186\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/26\/rolling-blackouts-remained-front-and-center-on-the-airwaves-for-the-third-consecutive-night\/1645-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1645.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1645.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1645.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1645.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626185\" class=\"content-area-description single-story post-626185 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-electricity tag-enterpriseam tag-last-nights-talk-shows tag-moustafa-madbouly 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\/.f0372136-af76-4098-b201-b4a2efc61880.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Viewers tuned in between power cuts to hear the reactions of the nation\u2019s talking heads<\/strong><strong> to the ongoing power cuts drama<\/strong>, with the government\u2019s recent apology and pledge to soon put an end to the rolling blackouts seemingly doing little to calm frustrations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>Prime Minister Mostafa Madbouly delivered a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid06tzNDQhfmcHARHm1NzApQFa1FS7kh4g4JiMxqa8cPPFBjuG7iZuQfUeNx2VF923nl\" style=\"\" rel=\"noopener\">televised statement<\/a> yesterday to apologize to the people and lay out a plan to end power cuts for the summer months by July to and eventually do away with them for good.<strong> We have a full rundown of the government\u2019s plan to keep the light on in the news well, above.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\"We shouldn't rely on a single country for <\/strong><strong>our gas supplies,\"<\/strong> Sherif Amer said on Yahduth fi Masr (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/YahdothFiMasr\/videos\/385785284498357\" style=\"\" rel=\"noopener\">watch, runtime: 5:14<\/a>), referencing comments by Madbouly that the surprise week-long extension of additional outages this week came as a result of a gas field in a \u201cneighboring country\u201d being offline for a 12-hour period, Madbouly said, without specifying the country. Ahmed Moussa presented a similar argument to Amer on Ala Mas'oulety, telling viewers that \"What happened yesterday taught us an important lesson... I don\u2019t want Egypt and its people to be at anyone's mercy\" (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=kPjGFPhot_4\" style=\"\" rel=\"noopener\">watch, runtime: 21:12<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Homsani called in to calm energy security concerns: <\/strong>Cabinet spokesperson Mohamed El Homsani joined Moussa over the phone to reiterate Madbouly\u2019s comments that \"yesterday's events were due to a technical fault at one of the wells in a country in the Eastern Mediterranean region.\" Homsani emphasized that \"Egypt is not at anyone's mercy and can import gas and mazut from any producing country, so there's no need for concern.\" <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\"The electricity crisis won't end in 20<\/strong><strong>24,\"<\/strong> former Oil Minister Osama Kamal phoned in to tell Sherif Amer (watch, runtime: <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/YahdothFiMasr\/videos\/1166514577821984\" style=\"\" rel=\"noopener\">5:02<\/a> | <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/YahdothFiMasr\/videos\/1463833837826608\" style=\"\" rel=\"noopener\">9:22<\/a>), adding that \u201dwe lagged behind in diversifying our energy sources, and addressing this will take at least six months.\" Kamal noted that while power plants have the capacity to double the country's energy needs, the load shedding crisis is due to a fuel shortage.<\/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\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moustafa-madbouly\/\">Moustafa Madbouly<\/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=\"626187\" 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=\"626187\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/26\/ci-capital-one-step-closer-to-egx33-fund-plus-zaldi-capital-obour-land-qalaa-holdings-gypto-pharma-fujifilm-egyptair-knauf\/\">\r\n                            CI Capital one step closer to EGX33 fund. PLUS: Zaldi Capital, Obour Land, Qalaa Holdings, Gypto Pharma, Fujifilm, EgyptAir, Knauf                        <\/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\/26\/ci-capital-one-step-closer-to-egx33-fund-plus-zaldi-capital-obour-land-qalaa-holdings-gypto-pharma-fujifilm-egyptair-knauf\/\" 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\/26\/ci-capital-one-step-closer-to-egx33-fund-plus-zaldi-capital-obour-land-qalaa-holdings-gypto-pharma-fujifilm-egyptair-knauf\/')\">\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\/26\/ci-capital-one-step-closer-to-egx33-fund-plus-zaldi-capital-obour-land-qalaa-holdings-gypto-pharma-fujifilm-egyptair-knauf\/\">\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=CI Capital one step closer to EGX33 fund. 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The state-owned investment bank plans to open the doors for investors looking to subscribe to the fund by 3Q 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The race is on to become the first fund tracking the EGX33: <\/strong>CI Capital Asset Management <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/413c277a-0eb2-403b-8735-77462cc9d43c\" style=\"\" rel=\"noopener\">announced<\/a> on the day of the index\u2019s launch that it wants to be \u201cthe country\u2019s first\u201d fund investing in shariah-compliant stocks. But it has competition, with Beltone also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b8ffc30b-cdd5-43b1-a82d-949080d489a1\/beltone-to-introduce-four-new-funds-with-an-upgraded-investment-platform-in-the-next-quarter,-beltone%25e2%2580%2599s-khalil-al-bawab-tells-enterprise\" style=\"\" rel=\"noopener\">in the running<\/a> and also aiming to launch the fund in the third quarter of the year. Azimut has also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0889fd4b-0756-425f-8e4a-4e58377a17d6\/egypt-was-among-saudi-arabia%25e2%2580%2599s-top-investors-last-quarter\" style=\"\" rel=\"noopener\">signaled<\/a> that it is keen to get an EGX33 fund up and running as soon as possible.<\/p>\n<p class=\"tag-border-left\">DEBT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Qalaa Holdings to pay USD 500 mn of its subsidiary Egyptian Refining Company\u2019s debts by the end of the<\/strong><strong> year:<\/strong> Qalaa Holding is set to pay some USD 500 mn of the creditor banks\u2019 dues from its subsidiary the <a target=\"_blank\" href=\"https:\/\/www.ercegypt.com\/\" style=\"\" rel=\"noopener\">Egyptian Refining Company<\/a>, Managing Director Hisham El Khazindar told <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1805276973964345412\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The subsidiary is planning to up its production capacity by 10% by 2028, El Khazindar added.<\/p>\n<p class=\"tag-border-left\">PRIVATE EQUITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Zaldi sets sights on new industrial investment fund: <\/strong>Local asset management firm <a target=\"_blank\" href=\"https:\/\/zaldi-capital.com\/\" style=\"\" rel=\"noopener\">Zaldi Capital<\/a> wants to partner with \u201ca major financial institution\u201d to launch a direct investment fund with an initial size of up to EGP 250 mn in 3Q 2024, Chairman Hatem El Banna told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/06\/25\/1803172\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The fund will purchase minority stakes in EGX listed and non-listed industrial companies, El Banna said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s been <\/strong><strong>a<\/strong><strong> busy week for Zaldia: <\/strong>The firm also <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/odin-investments_maksab-oz-english-factsheet-activity-7210949397990285313-MWTo\/?utm_source=share&amp;utm_medium=member_desktop\" style=\"\" rel=\"noopener\">launched<\/a> its Maksab - OZ fund together with fellow asset manager Alpha Asset Management with a target of USD 1 mn to be invested in fixed income instruments in different currencies. The fund\u2019s subscription window opened this week and will run until 22 July.<\/p>\n<p class=\"tag-border-left\">FOOD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Obour Land has a new EGP 350 mn cheese factory in the works: <\/strong>Dairy producer Obour Land plans to funnel EGP 350 mn into establishing a new processing factory in 2024 as it looks to increase production and double annual export revenues to USD 40 mn, the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1599.pdf\" style=\"\" rel=\"noopener\">E<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1599.pdf\" style=\"\" rel=\"noopener\">G<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1599.pdf\" style=\"\" rel=\"noopener\">X disclosure (pdf)<\/a>. As part of these plans, Obour Land will also invest EGP 800 mn into raising the volume of its livestock to 2k dairy cattle with the aim of producing 100 tonnes of milk per day and is studying new export markets.<\/p>\n<p class=\"tag-border-left\">INVESTMENT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GAFI talks green infrastructure investments with UK business delegation:<\/strong> The British Egyptian Business Forum brought together public and private sector representatives from both countries to discuss \u201cenvironmentally friendly infrastructure projects, such as water management and treatment, new and renewable energy, environmentally friendly engineering industries, construction and building, and communications and information technology,\u201d General Authority for Freezones head Hossam Heiba said, according to an authority <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid032J5UGQh48R2BExsccVKXbcFsEXrtz4QMHv6E3nRNsHS3FsrBqMsuUk1bUuX1PTgVl\" style=\"\" rel=\"noopener\">statement<\/a>. Investments from the UK to Egypt exceeded USD 2 bn in FY 2022-23, Heiba added.<\/p>\n<p class=\"tag-border-left\">HEALTHCARE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Gypto Pharma to export meds to KSA, UAE:<\/strong> State-owned medical city complex Gypto Pharma inked partnership agreements with a Saudi and an Emirati companies to export its pharma products to the two Gulf countries during the coming period, company CEO Amr Mamdouh told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/06\/25\/%D9%85%D8%B3%D8%A4%D9%88%D9%84-%D9%84%D9%80-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D8%AC%D9%8A%D8%A8%D8%AA%D9%88-%D9%81%D8%A7%D8%B1%D9%85%D8%A7-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D8%B3%D8%AA%D8%B9%D8%AF-%D9%84%D8%AA%D8%B5%D8%AF%D9%8A%D8%B1-%D9%85%D9%86%D8%AA%D8%AC%D8%A7%D8%AA%D9%87%D8%A7-%D9%84%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%88%D8%A7%D9%84%D8%A7%D9%85%D8%A7%D8%B1%D8%A7%D8%AA\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. The move comes as part of Gypto Pharma\u2019s export expansion plans into Gulf and African markets, Mamdouh added.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Fujifilm wants to up its medical investments in Egypt:<\/strong> Fujifilm Middle East intends to expand its investments in medical diagnosis and radiology in Egypt, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/06\/25\/1803457\" style=\"\" rel=\"noopener\">Al Borsa<\/a> writes, citing the company\u2019s managing director, Michio Kondo. The company will carry out its investment plans in Egypt via its Egypt head office in Cairo, which will open by the end of June, Kondo added.<\/p>\n<p class=\"tag-border-left\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EgyptAir jumps up 32 places on Skytrax rankings:<\/strong> The country\u2019s flag bearer EgyptAir joined the world\u2019s top 100 airlines on the Skytrax global ranking, snapping the 88th rank in the <a target=\"_blank\" href=\"https:\/\/www.worldairlineawards.com\/worlds-top-100-airlines-2024\/\" style=\"\" rel=\"noopener\">World Airlines Awards for 2024<\/a>, up from 110th last year. The state-run airlines also ranked second among Skytrax <a target=\"_blank\" href=\"https:\/\/www.worldairlineawards.com\/worlds-most-improved-airlines-2024\/\" style=\"\" rel=\"noopener\">World\u2019s Most Improved Airlines 2024<\/a> right after Saudi Arabian Airlines.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Movement in the right direction:<\/strong> Improving the ranking of national flag carrier was among President Abdel Fattah El Sisi\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e94bb97-4820-4349-bc3a-d65afa8cdcb1\/\" style=\"\" rel=\"noopener\">third term targets<\/a> for the aviation sector through 2030.<\/p>\n<p class=\"tag-border-left\">INVESTMENT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Knauf to more than double its Egypt investments by 2026:<\/strong> Building material manufacturer <a target=\"_blank\" href=\"https:\/\/knaufegypt.com\/en-us\" style=\"\" rel=\"noopener\">Knauf<\/a> plans to increase its investments in Egypt to EUR 120 mn by 2026, from EUR 50 mn currently, CEO Mohamed Abdel Rasoul told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/06\/25\/1803508\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The funds will go to expanding the company\u2019s existing operations and adding new production lines to Knauf\u2019s gypsum boards factory in Suez.<\/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\/abu-qir-fertilizers\/\">Abu Qir Fertilizers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markers\/\">capital markers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-uk-relations\/\">Egypt-UK relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-refining-company\/\">Egyptian Refining Company<\/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\/gafi\/\">GAFI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gypto\/\">GYPTO<\/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\/islamic-finance\/\">Islamic finance<\/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\/obour-land\/\">Obour Land<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/private-equity\/\">private equity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/zaldi-capital\/\">Zaldi Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"626189\" 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=\"626189\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/26\/em-just-had-the-busiest-day-of-the-year-on-the-bond-market\/\">\r\n                            EM just had the busiest day of the year on the bond market                        <\/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 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class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1654.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"626190\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/26\/em-just-had-the-busiest-day-of-the-year-on-the-bond-market\/1654-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1654.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1654.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1654.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1654.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626189\" class=\"content-area-description single-story post-626189 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-emerging-markets tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.39b43ba8-0c90-4f15-953f-169c206b0564.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Emerging markets poured into the debt market yesterday with a flurry of bond issuances<\/strong>, as sovereigns look to capitalize on what is \u201can opportunistic time\u201d for debt markets as interest rates dip this month, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-25\/emerging-market-debt-sales-pile-up-in-one-of-2024-s-busiest-days\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. Yields on 10-year US Treasuries are down more than 10 basis points this month, with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/2a18d187-7472-4c3b-a1de-538b2e6492f2\/us-inflation-slips-in-may,-boosting-hopes-of-more-rate-cuts-this-year-despite-policymakers-signaling-one-rate-cut\" style=\"\" rel=\"noopener\">markets expecting<\/a> the US Federal Reserve to start winding down its monetary tightening sooner rather than later after May figures showed US inflation beginning to cool. \u201cNow is the calm before further external factors come into play,\u201d Oren Barack, managing director of fixed income at New York-based Alliance Global Partners, tells the business information service.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s tapping the market:<\/strong> Four countries \u2014 the UAE, the Dominican Republic, Indonesia, and South Korea \u2014 all tapped the market yesterday, making it \u201cone of 2024\u2019s busiest days.\u201d The UAE sold USD 1.5 bn worth of eurobonds in its first sale since September, setting the spread at 60 basis points above US Treasuries amid red-hot demand, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-25\/uae-to-follow-gulf-neighbors-wth-first-eurobond-since-september\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The country had initially guided on a spread of 90 bps above Treasuries. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EM debt markets already came out the gate strong at the start of 2024<\/strong>, with the first four days of the year seeing USD 24.4 bn worth of issuances, making it the \u201cbusiest start to a year on record for USD- and EUR-denominated debt issuance out of developing nations,\u201d the business information service <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-07\/bond-sales-hit-record-pace-as-emerging-markets-see-year-of-risks\" style=\"\" rel=\"noopener\">said at the time<\/a>. The momentum has been sustained in the months since, with some USD 300 bn of hard currency debt from EM sovereign and corporate issuers going to market year-to-date, rising c.30% y-o-y. <\/p><p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mixed in early trading this morning<\/strong>, with the ASX 200, Hang Seng, and Shanghai Composite all in the red and the Kospi and Nikkei both in the green. US stock futures are largely unchanged in overnight trading after the S&amp;P 500 and Nasdaq Composite each ended three-day losing streaks yesterday. Futures point to a mixed open in Europe later this morning. <\/p><p><a target=\"_blank\" id=\"t.2b3d48e3a2da716104c1e077ed5be6d5d08439b2\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27,264<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.3% (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>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 48.31<\/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 48.45<\/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 48.33<\/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 48.43<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,731<\/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: -2.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,002<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: -6.0%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3,999<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: -1.5%)<\/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>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\">5,469<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +14.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,248<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +6.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,936<\/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: +9.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 84.94<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2.76<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,331.60<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 61,875.30<\/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\">+4.0% (YTD: +46.4%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 1.3% at today\u2019s close<\/strong> on turnover of EGP 3.5 bn (21.4% below the 90-day average). Regional investors were net sellers. The index is up 9.5% 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 (+15.8%), Ezz Steel (+6.3%), and Orascom Construction (+5.6%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Egypt Kuwait Holding -USD (-2.9%), Juhayna (-1.1%), and Sidi Kerir Petrochemicals (-1.0%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"626191\">\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\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday 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\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">9<\/div>\r\n    \r\n                        <p class=\"f-graphik\">HARDHAT<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/the-eu-is-putting-aside-egp-100-bn-to-invest-in-egypts-drinking-water-infrastructure-through-2030\/\"> \r\n                            The EU is putting aside EGP 100 bn to invest in Egypt\u2019s drinking water infrastructure through 2030<\/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\/hardhats\/the-eu-is-putting-aside-egp-100-bn-to-invest-in-egypts-drinking-water-infrastructure-through-2030\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The projects include the installation of several sewage stations, water and sewage networks, and drinking water stations in Qena, Sohag, Assiut, and Minya, according to European banking officials.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The EU signed a joint strategic and comprehensive partnership with Egypt in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/183954ef-4dc7-49c8-9499-743e77de1e74\/eu-pledges-eur-7.4-bn-aid-package-for-egypt\" style=\"\" rel=\"noopener\">March<\/a> that is set to grant Egypt a nearly EUR 7.4 bn package of loans, grants, and investments through 2027. Water security was among other key areas that were expected to bring in up to EUR 5 bn of investment from Europe, along with green hydrogen, industrial, digitization, agricultural, and other projects \u2014 all guaranteed by the <a target=\"_blank\" href=\"https:\/\/international-partnerships.ec.europa.eu\/funding-and-technical-assistance\/funding-instruments\/european-fund-sustainable-development-plus_en\" style=\"\" rel=\"noopener\">European Fund for Sustainable Development<\/a> and <a target=\"_blank\" href=\"https:\/\/sdgs.un.org\/partnerships\/eu-external-investment-plan-eip-including-european-fund-sustainable-development\" style=\"\" rel=\"noopener\">EU Economic Investment Plan<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s doing the funding: <\/strong>The donor list includes a set of European development entities and financing institutions, including the German Development Bank (KfW), the French Development Agency (AFD), the European Investment Bank (EIB), and the Swiss State Secretariat for Economic Affairs (SECO), as well as EU grants, Water and Utilities Sector Manager at the EU Delegation to Egypt Ayman Ayad said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This isn\u2019t the first time the EU has provided aid for Egypt\u2019s water security:<\/strong> The EU has been a long-term strategic partner in drinking water projects and has allocated around EUR 600 mn for Egypt\u2019s water security since 2006, Ayad said. Water security as a key priority in Egypt\u2019s partnership with the EU has only been solidified further with the Strategic Partnership Agreement signed last March, Ayad added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The plan for the projects: <\/strong>The EU will provide EUR 303 mn (EGP 15 bn) distributed among the four governorates for projects that include drinking water and sanitation projects, as well as funding for technical support for existing drinking water and sanitation companies in the governorates, Ayad said. The current goal, he adds, is to familiarize Egyptian contractors with the tender for implementing the projects alongside the Holding Company for Water and Waste Water (HCWW) and the Housing Ministry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EU has been working on issuing unified procedures among European development<\/strong> <strong>banks for tendering their projects,<\/strong> which will increase the presence of Egyptian contractors in the new projects that they offer, especially considering the decline in local funding for infrastructure projects, Egyptian Federation for Construction and Building Contractors (EFCBC) head Mohamed Sami Saad told Enterprise. The EFCBC has collaborated with EU representatives in Egypt, the German Development Bank, and the HCWW to clarify all technical and contractual matters for Egyptian contracting companies, he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Local contractors have previously been reluctant to submit bids for projects funded by international lenders like the World Bank, European Bank for Reconstruction and Development, and the African Development Bank because they adhere to international contract standards that aren\u2019t part of the country\u2019s regulatory framework, Saad <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0dae67d0-0038-45b8-b06f-45dc2fd6cff4\/what-can-local-contractors-do-to-expedite-their-expansion-abroad%3F\" style=\"\" rel=\"noopener\">previously told Enterprise<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EU has also made amendments to some contracting regulations,<\/strong> including allowing companies to be paid in EUR and offering construction contractors security in the face of possible price changes and exchange rate fluctuations, Saad said. These changes have long been demanded by local contractors \u2014 and the fact that they\u2019re now being realized reinforces ties with international development and financing entities, he continued.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The projects have been divided into two categories:<\/strong> Projects worth less than EUR 5 mn will be bound by Egyptian tender laws, while projects exceeding that amount will be tendered according to international regulations, Ayad said. This will help anticipate and eliminate potential challenges by establishing a legal, legislative, and contractual framework to avoid problems, he added. The KfW is working on issuing one unified tendering document compatible with the European side, as it is the primary tendering entity for new drinking water projects,<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There are also efforts to simplify procedures for drinking water and sanitation projects:<\/strong> While the majority of construction contractors in Egypt are classified as able to carry out drinking water and sanitation projects, only 400 firms actually implement them, Ayad said, chalking this up to a long list of requirements that discourage participation. Simplifying these procedures, he says, will allow for more future participation from local firms.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The success of previous water-related projects in the Delta with the EU contributed to the<\/strong> <strong>launch of the new phase in Upper Egypt, <\/strong>Consulting Engineers Salzgitter Deputy Regional Director for the MENA region Maged Reda tells us, adding that the new procedural facilitations and standards will open the door for further participation from Egyptian contractors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egyptian contractors can gain expertise and know-how from the projects:<\/strong> Egyptian contractors involved in the project will benefit from working with development partners directly instead of dealing with banks or larger firms that can carry out a project from start to finish, EFCBC member Hamdi Shehata said. This, he added, will grant contractors the chance to refine their skills by working at an international standard and seeing the requirements up close.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next:<\/strong> This round of talks is but one of many that the EFCBC intends to hold with international development institutions, Saad tells us, with the EFCBC looking to engage in similar dialogues with the Islamic Development Bank, the Asian Investment Bank, and the African Development Bank to improve the participation of Egyptian contractors by acquainting them with the procedures and guidelines of international entities. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>SCA looks to expand si<\/strong><strong>de canal in east Port Said port: <\/strong>The Suez Canal Authority (SCA) has instructed multiple entities to look into the possibility of duplicating and expanding the side canal of the east Port Said, which serves as a side entrance to the port, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%aa%d9%88%d8%ac%d9%8a%d9%87%d8%a7%d8%aa-%d8%ad%d9%83%d9%88%d9%85%d9%8a%d8%a9-%d8%a8%d8%af%d8%b1%d8%a7%d8%b3%d8%a9-%d8%a7%d8%b2%d8%af%d9%88%d8%a7%d8%ac-%d9%88%d8%aa%d9%88%d8%b3%d8%b9%d8%a9-%d8%a7\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports.<\/li>\n<li><strong>Egypt could soon receive the first tranche of JICA\u2019s loan for the Cairo Metro Line<\/strong><strong> 4:<\/strong> The Japan International Cooperation Agency (JICA) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d2099f63-38f4-4c26-853d-61a2cd787a4d\/\" style=\"\" rel=\"noopener\">will soon disburse<\/a> a USD 300 mn tranche from its USD 733 mn loan to finance the construction of the first phase of Cairo Metro Line 4.<\/li>\n<li><strong>AD Ports is taking over three tourism terminals<\/strong>: AD Ports will <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9face794-e574-4fde-8007-b955053d60fc\/\" style=\"\" rel=\"noopener\">develop, operate, and<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9face794-e574-4fde-8007-b955053d60fc\/\" style=\"\" rel=\"noopener\">manage three cruise terminals<\/a> in Hurghada, Safaga, and Sharm El Sheikh that will launch in 2025, after inking a concession agreement with the Red Sea Port Authority that will see AD Ports invest USD 4.7 mn over 15 years.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hardhat\/\">Hardhat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\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=\"626193\" 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\/26\/626193\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626193\" class=\"content-area-description single-story post-626193 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\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>Banque Misr + NBE slash FX commissions in half | CI Capital wants to launch the first EGX33 fund | Connect Money raised USD 8 mn<\/p>\n","protected":false},"featured_media":626171,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-626170","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"666e4743-3c92-4ebf-90e8-1b0091ae97cd","teaser":"Banque Misr + NBE slash FX commissions in half | CI Capital wants to launch the first EGX33 fund | Connect Money raised USD 8 mn","photo_url":"https:\/\/ent.news\/2024\/6\/1641.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>Gov\u2019t to end summer blackouts by third week of July with USD 1.2 bn energy import plan - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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