{"id":626246,"date":"2024-06-27T00:00:00","date_gmt":"2024-06-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=626246"},"modified":"2025-12-17T09:02:48","modified_gmt":"2025-12-17T09:02:48","slug":"challenges-mount-on-egyptian-industries-amid-power-cuts-and-gas-shortages","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/challenges-mount-on-egyptian-industries-amid-power-cuts-and-gas-shortages\/","title":{"rendered":"Challenges mount on Egyptian industries amid power cuts and gas shortages"},"content":{"rendered":"<section id=\"626248\" 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=\"626248\">\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\/27\/egp-inches-up-against-the-greenback-after-weakening-every-day-this-week\/\">\r\n                            EGP inches up against the greenback after weakening every day this week                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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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\/.18d32209-6f4f-442b-b047-fc7a5f928acf.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>It seems that everyone in Egypt is gearing up for a long weekend to mark the eleventh anniversary of the 30 June revolution \u2014 everyone that is, except anyone who\u2019s heading to the two-day EU-Egypt Investment Conference kicking off on Saturday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Egypt will also be off for June 30<\/strong>, but we will be back in your inbox bright and early on Monday with all the latest from over the weekend and from the EU-Egypt conference that will have just wrapped up.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But before we jump into the long weekend<\/strong>, there\u2019s still one workday ahead of us and plenty of local business news to get through. In today\u2019s issue, we\u2019ve ironically got no shortage of energy and power cut news, announcements of big ticket investments coming to the SCZone from abroad, and much, much more. So, let\u2019s jump right into it.<\/p><p class=\"tag-border-left\">WATCH THIS SPACE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>Could the NBE and Banque Misr cut record high-interest CDs after the CBE\u2019s<\/strong><strong> upcoming rate policy meeting? <\/strong>The National Bank of Egypt and Banque Misr will decide on whether to continue or stop issuing the high-interest CDs following the Central Bank of Egypt\u2019s Monetary Policy Committee meeting on 18 July, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/06\/26\/%D9%85%D8%AA%D9%89-%D9%8A%D9%88%D9%82%D9%81-%D8%A8%D9%86%D9%83%D8%A7-%D8%A7%D9%84%D8%A3%D9%87%D9%84%D9%8A-%D9%88-%D9%85%D8%B5%D8%B1-%D8%A7%D9%84%D8%B4%D9%87%D8%A7%D8%AF%D8%A7%D8%AA-%D9%85%D8%B1%D8%AA%D9%81%D8%B9%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D8%A6%D8%AF\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reports, citing unnamed banking sources. The two banks are still issuing high-interest certificates of deposit (CDs) with rates of 27% and 23%, despite <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7b5cd5d7-94eb-4391-bd8e-d6b1bd175704\/the-sovereign-fund-of-egypt-is-heading-to-the-gulf\" style=\"\" rel=\"noopener\">statements in May<\/a> that they were considering replacing with CDs with a lower return. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CIB has already made the move: <\/strong>CIB became the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/ar\/news\/story\/070a42ce-5ee5-4bc6-ba7b-a17d9663cf6a\/%25d8%25a7%25d9%2584%25d8%25a3%25d9%2588%25d8%25b1%25d9%2588%25d8%25a8%25d9%258a-%25d9%2584%25d8%25a5%25d8%25b9%25d8%25a7%25d8%25af%25d8%25a9-%25d8%25a7%25d9%2584%25d8%25a5%25d8%25b9%25d9%2585%25d8%25a7%25d8%25b1-%25d9%258a%25d8%25af%25d8%25b1%25d8%25b3-%25d8%25aa%25d9%2585%25d9%2588%25d9%258a%25d9%2584-%25d9%2585%25d8%25b2%25d8%25b1%25d8%25b9%25d8%25a9-%25d8%25b1%25d9%258a%25d8%25a7%25d8%25ad-%25d9%2585%25d8%25b5%25d8%25af%25d8%25b1-%25d8%25a5%25d9%2586%25d9%2581%25d9%258a%25d9%2586%25d9%258a%25d8%25aa%25d9%258a.-%25d8%25b3%25d9%258a%25d9%2585%25d8%25a8%25d9%2584%25d9%2583%25d8%25b3-%25d8%25aa%25d9%2581%25d8%25aa%25d8%25aa%25d8%25ad-%25d9%2585%25d8%25b5%25d9%2586%25d8%25b9%25d8%25a7-%25d8%25ac%25d8%25af%25d9%258a%25d8%25af%25d8%25a7-%25d8%25a7%25d9%2584%25d8%25b9%25d8%25a7%25d9%2585-%25d8%25a7%25d9%2584%25d9%2585%25d9%2582%25d8%25a8%25d9%2584.-%25d8%25a3%25d8%25ae%25d8%25a8%25d8%25a7%25d8%25b1-%25d9%2585%25d9%2586-%25d8%25a7%25d9%2584%25d9%2588%25d9%2583%25d8%25a7%25d9%2584%25d8%25a9-%25d8%25a7%25d9%2584%25d8%25a3%25d9%2585%25d8%25b1%25d9%258a%25d9%2583%25d9%258a%25d8%25a9-%25d9%2584%25d9%2584%25d8%25aa%25d9%2586%25d9%2585%25d9%258a%25d8%25a9-%25d9%2588%25d8%25a8%25d9%2586%25d9%2583-%25d9%2585%25d8%25b5%25d8%25b1\" style=\"\" rel=\"noopener\">f<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/ar\/news\/story\/070a42ce-5ee5-4bc6-ba7b-a17d9663cf6a\/%25d8%25a7%25d9%2584%25d8%25a3%25d9%2588%25d8%25b1%25d9%2588%25d8%25a8%25d9%258a-%25d9%2584%25d8%25a5%25d8%25b9%25d8%25a7%25d8%25af%25d8%25a9-%25d8%25a7%25d9%2584%25d8%25a5%25d8%25b9%25d9%2585%25d8%25a7%25d8%25b1-%25d9%258a%25d8%25af%25d8%25b1%25d8%25b3-%25d8%25aa%25d9%2585%25d9%2588%25d9%258a%25d9%2584-%25d9%2585%25d8%25b2%25d8%25b1%25d8%25b9%25d8%25a9-%25d8%25b1%25d9%258a%25d8%25a7%25d8%25ad-%25d9%2585%25d8%25b5%25d8%25af%25d8%25b1-%25d8%25a5%25d9%2586%25d9%2581%25d9%258a%25d9%2586%25d9%258a%25d8%25aa%25d9%258a.-%25d8%25b3%25d9%258a%25d9%2585%25d8%25a8%25d9%2584%25d9%2583%25d8%25b3-%25d8%25aa%25d9%2581%25d8%25aa%25d8%25aa%25d8%25ad-%25d9%2585%25d8%25b5%25d9%2586%25d8%25b9%25d8%25a7-%25d8%25ac%25d8%25af%25d9%258a%25d8%25af%25d8%25a7-%25d8%25a7%25d9%2584%25d8%25b9%25d8%25a7%25d9%2585-%25d8%25a7%25d9%2584%25d9%2585%25d9%2582%25d8%25a8%25d9%2584.-%25d8%25a3%25d8%25ae%25d8%25a8%25d8%25a7%25d8%25b1-%25d9%2585%25d9%2586-%25d8%25a7%25d9%2584%25d9%2588%25d9%2583%25d8%25a7%25d9%2584%25d8%25a9-%25d8%25a7%25d9%2584%25d8%25a3%25d9%2585%25d8%25b1%25d9%258a%25d9%2583%25d9%258a%25d8%25a9-%25d9%2584%25d9%2584%25d8%25aa%25d9%2586%25d9%2585%25d9%258a%25d8%25a9-%25d9%2588%25d8%25a8%25d9%2586%25d9%2583-%25d9%2585%25d8%25b5%25d8%25b1\" style=\"\" rel=\"noopener\">irst bank to lower rates<\/a> on high-interest CDs earlier this month following the 600 bps hike and float of the EGP in March.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The why: <\/strong>Naeem\u2019s Hesham Hamdey told the outlet thinks the decision of the two state-owned banks to keep rates on high-interest CDs stable as a sign that the central bank will keep monetary policy tight and only gradually begin cutting rates at the end of the year. CI Capital\u2019s Sara Saada also pointed to competition between banks to maintain their customer case during periods of high inflation as a reason behind the banks\u2019 decision to keep returns for CDs at record highs.<\/p><p class=\"tag-border-left\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>Much like yesterday, it\u2019s another scorchio day in Cairo today, with a high of 41\u00b0C and a low of 26\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a little cooler in Alexandria and the North Coast<\/strong>, with a high of 35\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>And over the long weekend, <\/strong>expect to see temperatures in the capital inching up to 41\u00b0C on Friday before falling slightly to 39\u00b0C on Saturday and Sunday. Temperatures for our friends on the Mediterranean are set to fall gradually to 33\u00b0C by Sunday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Want to subscribe?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">FX WATCH-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#1- <\/strong><strong>EGP inches up against the greenback of consecutive drops following the Eid Al Adha<\/strong><strong> break: <\/strong>The USD was trading hands at EGP 48.14 by the end of the day yesterday at the Central Bank of Egypt, weakening against the national currency since yesterday by EGP 0.31.<\/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>#2- BdC lowers credit card limits, leaves FX markup at 10%:<\/strong> State-owned lender Banque du Caire (BdC) <a target=\"_blank\" href=\"https:\/\/www.bdc.com.eg\/bdcwebsite\/cards-limits.html\" style=\"\" rel=\"noopener\">eased<\/a> its FX credit card limits yesterday, while keeping its FX commission stable at 10%, according to the lender\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1739.pdf\" style=\"\" rel=\"noopener\">T&amp;Cs (pdf)<\/a>. The move follows <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0dbd8b6a-2edb-437d-b780-8adb3b1b61ec\/\" style=\"\" rel=\"noopener\">CIB<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e0139cb2-943d-490d-adc3-19026eea13ec\/\" style=\"\" rel=\"noopener\">Banque Misr, and the National Bank of Egypt (NBE)<\/a>, who raised their FX limits and \u2014 unlike BdC \u2014 slashed their FX commission in half to 5%. BdC clients will now be able to spend the equivalent of EGP 40k-280k on monthly FX transactions made while abroad.<\/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>What everyone in the global press is talking about now: <\/strong><a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/06\/26\/world\/americas\/bolivia-unrest-military.html\" style=\"\" rel=\"noopener\">Troops in Bolivia<\/a> have pulled back from the presidential palace and nearby areas after trying to occupy the compound. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they\u2019ll be talking about when the business day begins: <\/strong>The 31 largest US banks have <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ba8980db-2f9e-472f-98b1-37268ac0f652\" style=\"\" rel=\"noopener\">passed their annual \u201cstress tests,\u201d<\/a> with this year\u2019s scenario testing who could be wiped out by a hypothetical scenario that included 10% unemployment in the midst of a deep recession that also saw real estate prices drop 36-40%. The impact on the sector would be nasty, but banks including Goldman Sachs and JPMorgan Chase would all meet minimum regulatory standards. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they\u2019ll be talking about tonight and into the weekend: <\/strong><a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2024\/06\/26\/trump-debate-preparation-00165187\" style=\"\" rel=\"noopener\">Donald Trump<\/a> and <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/interactive\/2024\/06\/26\/us\/biden-debate-style.html\" style=\"\" rel=\"noopener\">Joe<\/a><a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/interactive\/2024\/06\/26\/us\/biden-debate-style.html\" style=\"\" rel=\"noopener\">Biden<\/a> face off tonight in the first of two presidential election debates. The fireworks start at 9pm Eastern (that\u2019s 4am in Cairo and Riyadh, 5am in Abu Dhabi and Dubai). You\u2019ll need to tune in to CNN to catch it, though it looks like they also plan to <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=-v-8wJkmwBY\" style=\"\" rel=\"noopener\">stream it on Youtube<\/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\/egp\/\">EGP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"626250 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=\"626250\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/626250\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626250\" class=\"content-area-description single-story post-626250 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1427.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Celebrate World Ocean Month with Somabay: <\/span><span>Throughout this month, join us for a series of ocean awareness activities designed to engage our community in the importance of protecting our oceans and reefs. Participate in an intro to freediving, tridacna planting, community workshops, guided snorkeling tours, Kompass educational programs and workshops, ocean clean-up dives, beach cinema with ocean documentaries, and glass boat tours for coral and fish identification.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"626251\" 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=\"626251\">\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\/27\/new-public-private-consortium-to-launch-usd-600-mn-to-import-ethane-gas\/\">\r\n                            Gama Construction to join four state-owned Egyptian firms to launch USD 600 mn ethane gas import company                        <\/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\/27\/new-public-private-consortium-to-launch-usd-600-mn-to-import-ethane-gas\/\" target=\"_blank\">\n                    Open in new tab                    <!-- 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<\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=New+public-private+consortium+to+launch+USD+600+mn+to+import+ethane+gas+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F27%2Fnew-public-private-consortium-to-launch-usd-600-mn-to-import-ethane-gas%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/new-public-private-consortium-to-launch-usd-600-mn-to-import-ethane-gas\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1745.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"626252\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/new-public-private-consortium-to-launch-usd-600-mn-to-import-ethane-gas\/1745-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1745.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1745.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1745.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1745.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626251\" class=\"content-area-description single-story post-626251 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\/.fcaa4fbf-554f-41f1-97f5-5fa8d88223c4.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>It\u2019s not just natural gas and mazut that Egypt wants to import:<\/strong> Four state-owned firms are set to launch a company alongside Triangle Group\u2019s <a target=\"_blank\" href=\"https:\/\/gama.com.eg\/\" style=\"\" rel=\"noopener\">Gama Construction<\/a> in a project to import liquified ethane gas derived from US shale gas, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/06\/26\/%D8%A7%D9%86%D8%B6%D9%85%D8%A7%D9%85-%D8%AC%D8%A7%D9%85%D8%A7-%D9%84%D9%84%D8%A7%D9%86%D8%B4%D8%A7%D8%A1%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D9%84%D8%AA%D8%AD%D8%A7%D9%84%D9%81-%D9%8A%D8%AE%D8%B7%D8%B7-%D9%84%D8%A7%D8%B3%D8%AA%D9%8A%D8%B1%D8%A7%D8%AF-%D8%A7%D9%84%D8%BA%D8%A7%D8%B2-%D8%A7%D9%84%D8%B5%D8%AE%D8%B1%D9%8A-%D8%A7%D9%84%D8%A3%D9%85%D9%8A%D8%B1%D9%83%D9%8A\" style=\"\" rel=\"noopener\">Al Arabiya Business<\/a> reports, citing an unnamed government official. The consortium \u2014 which is set to launch this month \u2014 includes Egyptian Petrochemicals Holding Company (ECHEM), Sidi Kerir Petrochemicals (Sidpec), Egyptian Ethylene and Derivatives Company (Ethydco), and the Egyptian Natural Gas Company (GASCO) will invest USD 600 mn into the new company, the source said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why ethane? <\/strong>Ethane is one of the main hydrocarbons used to make ethylene which in turn is a key ingredient in the production of plastics, chemicals, and plant growth regulators to improve agricultural yields.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The plan is for 40% of the project\u2019s USD 600 mn capital to be provided by the company\u2019s shareholders, while the remaining 60% will be secured through bank loans, the official said. The capital will be paid across three phases, with the companies having allocated some USD 340 mn for the project\u2019s first phase, which is set to commence by the end of June, the source added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who owns what:<\/strong> Sidpec, Ethydco, and Gama Construction will each own a 25% share in the new company, while ECHEM will hold 15%, and GASCO will get the remaining 10%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ethane shipments are set to be delivered to the port of Dekheila in Alexandria,<\/strong> where they will be directed to Sidpec and Ethydco to allow them to meet 100% of their production capacities, the source added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next:<\/strong> Sidpec and Ethydco are set to issue international tenders for the shipments once the project\u2019s infrastructure is complete, the source adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Sidpec and Abu Qir fertilizers announced on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/454b221a-69a5-4435-864e-86f3fc55f90e\/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\" style=\"\" rel=\"noopener\">Tuesday<\/a> a total shutdown of operations in its plants due to a \u201clack of feed gasses,\u201d as high temperatures, increasing electricity consumption prices, and cuts to the regional gas supply have been particularly detrimental to the operations of companies in the highly energy-intensive fertilizer industry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other fertilizer companies are also powering down factories: <\/strong>Misr Fertilizer Production Company (Mopco) and Kima have also ceased their natural gas supplies to their plants due to the continued heat wave causing \u201can unprecedented increase in energy consumption rates,\u201d as well as the \u201chalt in some regional gas supply sources,\u201d <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1687.pdf\" style=\"\" rel=\"noopener\">Mopco (pdf)<\/a> and <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1718.pdf\" style=\"\" rel=\"noopener\">Kima<\/a> said in separate disclosures to the EGX (<a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1687.pdf\" style=\"\" rel=\"noopener\">here (pdf)<\/a> and <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1718.pdf\" style=\"\" rel=\"noopener\">here (pdf)<\/a>).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"626253\" 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 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                <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/challenges-mount-on-egyptian-industries-amid-power-cuts-and-gas-shortages\/\">\r\n                            Power cuts and gas shortages compound Egypt\u2019s industry woes                        <\/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\/27\/challenges-mount-on-egyptian-industries-amid-power-cuts-and-gas-shortages\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1747.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"626255\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/challenges-mount-on-egyptian-industries-amid-power-cuts-and-gas-shortages\/1747-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1747.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1747.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1747.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1747.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626254\" class=\"content-area-description single-story post-626254 post type-post status-publish format-standard has-post-thumbnail hentry category-industry tag-egyptian-chamber-of-commerce tag-electricity tag-energy tag-enterpriseam tag-federation-of-egyptian-industries tag-industry 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\/.0fb8894f-e54f-4e6e-82cd-66f129533835.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Some industries are getting harder than others from rolling blackouts:<\/strong> Factories in the steel, livestock, food production, petrochemicals, and fertilizers industries are facing operational disruptions due to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/454b221a-69a5-4435-864e-86f3fc55f90e\/\" style=\"\" rel=\"noopener\">ongoing power cuts<\/a> and gas shortages that are squeezing companies\u2019 bottom lines. We spoke to several industry insiders from various industries about the challenges that businesses face and what they\u2019re doing to try to find a solution.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For some, gas shortages eclipse electricity issues:<\/strong> The primary concern isn\u2019t the power cuts \u2014 which have been happening since 2023 \u2014 but the more pressing issue is the shortage of natural gas supplies, an industry insider from a leading foreign fertilizer manufacturer in Egypt told Enterprise. \"The industry relies on natural gas for about 60% of its raw materials,\" the source explained. The factory his company runs was shut down for ten straight days at the beginning of the month, operated intermittently for a week, and then halted production again four days ago due to a complete lack of gas supply.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is causing fertilizers prices to skyrocket:<\/strong> Fertilizer prices in the open market have surged due to production disruptions, with prices soaring over EGP 20k per ton, marking a 50% m-o-m increase and over 110% y-o-y, Giza\u2019s Farmers' Syndicate head Magdy Abou El Ala told Enterprise. Abou El Ala added that farmers are currently unable to find any quantities of urea fertilizers from traders. \"When available, the price doesn't drop below EGP 1k per bag, compared to EGP 500-600 before the crisis,\" he noted, adding that the price for subsidized bags at agricultural cooperatives is approximately EGP 300.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ripple effect on agricultural prices: <\/strong>Abou El Ala warns that the agricultural sector is bracing for an increase in crop prices due to the dual impact of fertilizer shortages and seed varieties\u2019 inability to withstand the ongoing heatwaves. This combination of factors will likely lead to reduced supply and in turn higher prices in the coming period. Farmers\u2019 Syndicate head Hussein Abu Saddam also commented on the situation, telling <a target=\"_blank\" href=\"https:\/\/www.cairolive24.com\/2031653\" style=\"\" rel=\"noopener\">Cairo 24<\/a> that gas shortages at fertilizers plants are poised to increase summer vegetables and fruits up 25%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Poultry farms are struggling to maintain their stock during heatwaves: <\/strong>Poultry farms are experiencing significant losses on the back of power cuts, with entire barns in several farms suffering the loss of all their chickens, according to two sources from the Poultry Producers Union. The Cairo Chamber of Commerce\u2019s poultry division head Abdel Aziz El Sayed highlighted that extended power cuts negatively impact farms\u2019 production capacity, telling <a target=\"_blank\" href=\"https:\/\/hapijournal.com\/2024\/06\/26\/%d8%b9%d8%a8%d8%af-%d8%a7%d9%84%d8%b9%d8%b2%d9%8a%d8%b2-%d8%a7%d9%84%d8%b3%d9%8a%d8%af-%d8%a7%d9%86%d9%82%d8%b7%d8%a7%d8%b9-%d8%a7%d9%84%d9%83%d9%87%d8%b1%d8%a8%d8%a7%d8%a1-%d9%8a%d9%87%d8%af%d8%af\/\" style=\"\" rel=\"noopener\">Hapi Journal<\/a> that \"the high temperatures without adequate ventilation and cooling due to power cuts lead to increased poultry mortality.\"<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Home appliances production to nearly halve:<\/strong> Hassan Mabrouk, head of the Home Appliance Division at the FEI, estimated a 40% reduction in home appliance production due to power cuts, according to statements he gave to <a target=\"_blank\" href=\"https:\/\/hapijournal.com\/2024\/06\/26\/%d8%ad%d8%b3%d9%86-%d9%85%d8%a8%d8%b1%d9%88%d9%83-40-%d8%aa%d8%b1%d8%a7%d8%ac%d8%b9%d8%a7-%d9%85%d8%aa%d9%88%d9%82%d8%b9%d8%a7-%d9%81%d9%8a-%d8%a5%d9%86%d8%aa%d8%a7%d8%ac-%d8%a7%d9%84%d9%85%d8%b5\/\" style=\"\" rel=\"noopener\">Hapi Journal<\/a>. \"No facility is spared from the load-shedding plan,\" he said, noting that ongoing power cuts during working hours will inflict severe losses given the rising operational costs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The steel industry has far not been as badly affected:<\/strong> Steel factories have not yet felt the brunt of the power cuts and no significant complaints have been reported yet, according to Ayman El Ashry, CEO of El Ashry Steel. However, a source from the sector told us that while power cuts do not heavily impact the steel industry, the steel melting process is sensitive to sudden power outages, leading to a significant waste of raw materials. Under normal circumstances, wastage is around 1-2%, but unexpected power cuts can put that at 5%. Moreover, restarting a furnace could take three to four days, significantly raising operational costs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the food industry hasn\u2019t been as lucky: <\/strong>The primary challenge for food manufacturers is the stoppage of natural gas supplies that occurred earlier this month, head of the Federation of Egyptian Industries\u2019 (FEI) food division Ashraf El Gazayerli told Enterprise. The chamber engaged with the Industry Ministry to resolve the crisis within a few days, but the issue resurfaced two days ago and new talks are currently underway. Despite gas supply shortages, production has not halted entirely, as some factories have reserves, El Gazayerli said with the caveat that to avoid future production stoppages, the resumption of gas supply is critical. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Federation of Egyptian Chambers of Commerce in talks with the gov\u2019t:<\/strong> Egyptian Chambers of Commerce head Ahmed El Wakeel told Enterprise that the Federation of Egyptian Chambers of Commerce is in continuous talks with the government to resolve the crisis as soon as possible. However, he could not specify a timeline for resolution, adding that \u201cwe hope the crisis will end soon.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-chamber-of-commerce\/\">Egyptian Chamber of Commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/federation-of-egyptian-industries\/\">Federation of Egyptian Industries<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/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=\"626256\" 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=\"626256\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/chinas-befar-to-set-up-usd-250-mn-first-phase-of-integrated-chemicals-project\/\">\r\n                            China\u2019s Befar to set up USD 250 mn first phase of integrated chemicals project in Egypt\u2019s SCZone                        <\/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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data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1749.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1749.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626256\" class=\"content-area-description single-story post-626256 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-china tag-enterpriseam tag-fdi tag-investment-watch tag-manufacturing tag-suez-canal-economic-zone tag-teda-industrial-zone 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\/.29f9a766-3d66-4d63-8275-a5f987252f76.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Befar gets serious about Egypt:<\/strong> The Suez Canal Economic Zone (SCZone) inked a framework agreement with Chinese chemicals manufacturer Befar Group to set up an integrated chemicals production complex dubbed Green Marine in China\u2019s special economic zone TEDA, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02xksZQqBdZedw4Ne8jZKZGeyW61bBuKQrMRc7D1TWUsFsAsMw9E6CgNxB2NvseTuYl\" style=\"\" rel=\"noopener\">statement<\/a> from the SCZone.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investing big in phase one:<\/strong> Green Marine\u2019s first phase will see a hefty investment of USD 250 mn to build a 300k sqm facility in TEDA. This phase aims to produce 100k tons of caustic soda, 50k tons of hydrochloric acid, 40k tons of bleaching agents and decolorizing products for textiles, and 10k tons of bromine and its derivatives annually. The complex is expected to generate annual revenues of USD 230 mn and create 795 jobs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expanding horizons in phases two, three:<\/strong> The second phase of Befar's Green Marine will focus on broadening its production line to include chlorine, polyether, and polyurethane, aiming to meet domestic demand for chemicals used in the automotive and construction industries. This phase will also support the production of high-quality soda ash necessary for the glass industry. Phase three will leverage local resources to develop advanced technologies for producing new chemical compounds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>China loves the SCZone:<\/strong> Chinese investments make up 40% of the USD 6 bn invested in the SCZone in the last two years, SCZone head Walid Gamal El Din said <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5b726a60-72db-4779-aa75-8ce110131e6e\/\" style=\"\" rel=\"noopener\">last month<\/a>. \u201cThere is a legitimate ambition to level up the number of Chinese companies in SCZone to reach 1k by 2030,\u201d El Din added.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/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\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/teda-industrial-zone\/\">TEDA industrial zone<\/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=\"626258 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=\"626258\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/626258\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626258\" class=\"content-area-description single-story post-626258 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.global\/en\/locations\/Egypt\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/674.png?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"626259\" 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=\"626259\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/israels-leviathan-gas-field-to-invest-up-to-usd-500-mn-to-expand-production-after-israeli-govt-approves-bill-to-double-gas-exports\/\">\r\n                            Israel\u2019s Leviathan gas field to invest up to USD 500 mn to expand production after Israeli gov\u2019t approves bill to double gas exports                        <\/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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class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1753.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"626260\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/israels-leviathan-gas-field-to-invest-up-to-usd-500-mn-to-expand-production-after-israeli-govt-approves-bill-to-double-gas-exports\/1753-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1753.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1753.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1753.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1753.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626259\" class=\"content-area-description single-story post-626259 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-energy tag-enterpriseam tag-israel tag-leviathan 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\/.2b791d33-601d-412e-8ce5-6dbac199c1f7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel is set to expand its natural gas exports: <\/strong>Shortly after the Israeli government greenlit a proposal to double the amount of gas allowed to be exported, shareholders in the country\u2019s Leviathan gas field \u2014 Israel\u2019s largest \u2014 announced that they plan to invest up to USD 500 mn to expand production, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/israel-approves-extra-gas-exports-leviathan-field-be-expanded-2024-06-26\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. The decision will \u201cstrengthen diplomatic ties, improve Israel's energy security and bring an added windfall to the economy,\u201d Reuters quotes Israeli Energy Minister Eli Cohen as having said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Egypt angle: <\/strong>The field primarily exports to Egypt and Jordan, with exports from the Leviathan gas field to Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0c7e490a-05c4-4b3c-8ed9-e655ba0b6d37\/blinken-will-land-in-egypt-tomorrow\" style=\"\" rel=\"noopener\">reaching<\/a> 6.3 bcm last year, up 28% from the previous year despite a temporary pause on exports after Israel began its war on Gaza.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> 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, Prime Minister Mostafa Madbouly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/454b221a-69a5-4435-864e-86f3fc55f90e\/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\" style=\"\" rel=\"noopener\">said<\/a> on Tuesday, without specifying the country.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/leviathan\/\">Leviathan<\/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=\"626261\" 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=\"626261\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/fdi-inflows-into-egypt-down-13-7-in-2023-unctad-report-shows\/\">\r\n                            FDI inflows into Egypt down 13.7% in 2023, Unctad report shows                        <\/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\/27\/fdi-inflows-into-egypt-down-13-7-in-2023-unctad-report-shows\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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href=\"https:\/\/api.whatsapp.com\/send?text=FDI+inflows+into+Egypt+down+13.7%25+in+2023%2C+Unctad+report+shows+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F27%2Ffdi-inflows-into-egypt-down-13-7-in-2023-unctad-report-shows%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/fdi-inflows-into-egypt-down-13-7-in-2023-unctad-report-shows\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1751.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"626262\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/fdi-inflows-into-egypt-down-13-7-in-2023-unctad-report-shows\/1751-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1751.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1751.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1751.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1751.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626261\" class=\"content-area-description single-story post-626261 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-economy tag-enterpriseam tag-fdi tag-investment-watch tag-world-investment-report 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\/.a7cfeed2-7a1b-4d96-9e40-b1be53a23922.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt\u2019s FDI inflows fell by 13.7% y-o-y to USD 9.8 bn in 2023<\/strong>, on the back of a particularly big year for M&amp;As the year previous with \u201cabnormally high project values,\u201d according to the UN Trade and Development\u2019s (UNCTAD) latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1603.pdf\" style=\"\" rel=\"noopener\">World Investment Report (pdf)<\/a> and its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1738.pdf\" style=\"\" rel=\"noopener\">regional trends breakdown (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FDI outflows increased 14% y-o-y, coming in at USD 390 mn in 2023<\/strong>, the report says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The continent as a whole: <\/strong>FDI inflows into Africa were down 3% y-o-y in 2023, coming in at USD 53 bn. The report pointed to reduced inflows into Egypt and South Africa as the reason behind the overall trend due to the two countries making up a substantial part of the continent's net inflows. Closer to home still, FDI inflows across North Africa were down 12% throughout the year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How did others in the region do last year?<\/strong><\/p>\n<ul>\n<li><strong>KSA saw FDI inflows into fall 56% y-o-y to USD 12.3 bn in 2023<\/strong>, while outflows fell 40% to USD 16.1 bn in 2023; <\/li>\n<li><strong>The UAE saw its inflows grow 35%<\/strong> y-o-y to USD 30.7 bn, while its outflows fell 10% to USD 22.3 bn;<\/li>\n<li><strong>Inflows for Bahrain grew 2.5x<\/strong> y-o-y to USD 6.8 bn, outflows were down 42.9% to USD 1.1 bn;<\/li>\n<li><strong>Kuwait\u2019s inflows almost tripled<\/strong> y-o-y to USD 2.1 bn, as its outflows fell 54.5% to USD 11.2 bn;<\/li>\n<li><strong>Morocco\u2019s inflows decreased 51.5% y-o-y to USD 1.1 bn<\/strong>, while outflows increased 30.4% y-o-y to USD 836 mn;<\/li>\n<li><strong>Qatar recorded negative inflows of USD 474 mn<\/strong> from inflows of USD 76 mn a year earlier. Meanwhile, it recorded negative outflows of USD 191 mn.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A look at Asia: <\/strong>While FDI flows to developing Asia fell 4.7% y-o-y to USD 621 bn in 2023, it remained the largest recipient of FDI globally accounting for 50% of total global inflows. FDI inflows to West Asia \u2014 which includes Saudi, UAE and Turkey \u2014 fell 9% y-o-y during the period on the back of lower M&amp;A sales. However, the region saw more greenfield projects and international project finance agreements last year in comparison with others in Asia. The number of international project agreements in the region nearly doubled to 94 in 2023 at a value of USD 57 bn.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-investment-report\/\">World Investment Report<\/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=\"626263\" 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=\"626263\">\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\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/new-delta-water-treatment-plant-grabs-four-guinness-world-records\/\">\r\n                            New Delta water treatment plant grabs four Guinness World Records                        <\/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\/27\/new-delta-water-treatment-plant-grabs-four-guinness-world-records\/\" 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\/27\/new-delta-water-treatment-plant-grabs-four-guinness-world-records\/')\">\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\/27\/new-delta-water-treatment-plant-grabs-four-guinness-world-records\/\">\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=New Delta water treatment plant grabs four Guinness World Records&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/new-delta-water-treatment-plant-grabs-four-guinness-world-records\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/new-delta-water-treatment-plant-grabs-four-guinness-world-records\/&title=New Delta water treatment plant grabs four Guinness World Records\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=New+Delta+water+treatment+plant+grabs+four+Guinness+World+Records+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F27%2Fnew-delta-water-treatment-plant-grabs-four-guinness-world-records%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/new-delta-water-treatment-plant-grabs-four-guinness-world-records\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1755.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"626264\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/new-delta-water-treatment-plant-grabs-four-guinness-world-records\/1755-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1755.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1755.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1755.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1755.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626263\" class=\"content-area-description single-story post-626263 post type-post status-publish format-standard has-post-thumbnail hentry category-kudos tag-arab-contractors tag-construction tag-enterpriseam tag-guinness-world-record tag-hassan-allam-construction tag-kudos tag-metito tag-orascom-construction 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\/.cac877f1-2b74-48c2-8d46-7e59c7c943ed.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt is now officially home to the world\u2019s largest water treatment facility: <\/strong>Our friends at Hassan Allam Construction, Orascom Construction, Metito and Arab Contractors have received four Guinness World Records for their recently completed New Delta Irrigation Water Treatment Plant, a joint <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1486.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a> announced this week. The records include the world\u2019s largest water treatment facility, the most capacious and operationally robust water treatment plant, the largest area for epoxy coating in structures and the biggest sludge treatment plant globally.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arab-contractors\/\">Arab Contractors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/guinness-world-record\/\">Guinness World Record<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hassan-allam-construction\/\">Hassan Allam Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/metito\/\">Metito<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/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=\"626265\" 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=\"626265\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/didi-names-lida-xu-the-its-new-general-manager-for-egypt-new-zealand-and-australia\/\">\r\n                            Didi names Lida Xu the its new general manager for Egypt, New Zealand, and Australia                        <\/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\/27\/didi-names-lida-xu-the-its-new-general-manager-for-egypt-new-zealand-and-australia\/\" 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\/27\/didi-names-lida-xu-the-its-new-general-manager-for-egypt-new-zealand-and-australia\/')\">\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\/27\/didi-names-lida-xu-the-its-new-general-manager-for-egypt-new-zealand-and-australia\/\">\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=Didi names Lida Xu the its new general manager for Egypt, New Zealand, and Australia&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/didi-names-lida-xu-the-its-new-general-manager-for-egypt-new-zealand-and-australia\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/didi-names-lida-xu-the-its-new-general-manager-for-egypt-new-zealand-and-australia\/&title=Didi names Lida Xu the its new general manager for Egypt, New Zealand, and Australia\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Didi+names+Lida+Xu+the+its+new+general+manager+for+Egypt%2C+New+Zealand%2C+and+Australia+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F27%2Fdidi-names-lida-xu-the-its-new-general-manager-for-egypt-new-zealand-and-australia%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/didi-names-lida-xu-the-its-new-general-manager-for-egypt-new-zealand-and-australia\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1759.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"626266\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/didi-names-lida-xu-the-its-new-general-manager-for-egypt-new-zealand-and-australia\/1759-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1759.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1759.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1759.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1759.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626265\" class=\"content-area-description single-story post-626265 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-didi tag-enterpriseam tag-moves 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\/.4e75adf6-78f8-4347-86bd-60a981c46cfd.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Didi has a new Egypt GM:<\/strong> Ride-hailing app operator DiDi Egypt has appointed Lida Xu (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/lida-xu-2005a127\/?originalSubdomain=au\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as its new general manager for Egypt, New Zealand, and Australia, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1717.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. Lida has climbed the ranks of Didi since he joined in 2018 and most recently headed its operations in Australia and New Zealand. \u201cThe openings for growth and innovation in these markets are enormous, and I am looking forward to working with the team to achieve our ambitious goals,\u201d Lida said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/didi\/\">Didi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/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=\"626267 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=\"626267\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/626267\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626267\" class=\"content-area-description single-story post-626267 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/186.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"626268\" 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=\"626268\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/soaring-fertilizers-prices-got-the-nations-hosts-talking-last-night\/\">\r\n                            Soaring fertilizers prices got the nation\u2019s hosts talking last night                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/soaring-fertilizers-prices-got-the-nations-hosts-talking-last-night\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n   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the nation\u2019s hosts talking last night&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/soaring-fertilizers-prices-got-the-nations-hosts-talking-last-night\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/soaring-fertilizers-prices-got-the-nations-hosts-talking-last-night\/&title=Soaring fertilizers prices got the nation\u2019s hosts talking last night\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a 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size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"626269\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/soaring-fertilizers-prices-got-the-nations-hosts-talking-last-night\/1757-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1757.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1757.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1757.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1757.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626268\" class=\"content-area-description single-story post-626268 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-agriculture tag-enterpriseam tag-fertilizers tag-gerd tag-last-nights-talk-shows 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\/.e0569ea3-093d-4bf3-8fc7-29c7cfa3cdd3.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Surging fert<\/strong><strong>ilizer prices amid gas shortages stirred debates last night,<\/strong> with the nation\u2019s talking heads handing the mic to industry insiders and officials to weigh in on the impacts of the crisis.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ahmed Moussa sounded the alarm over a steep rise in fertilizer prices<\/strong>, telling his viewers on his show Ala Masouleety that urea prices have recently soared to EGP 700-800 per bag, from EGP 250-300 (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=grICiy79TR8\" style=\"\" rel=\"noopener\">watch, runtime: 3:03<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Agriculture Ministry called in to address concerns: <\/strong>\u201cThe current spike in fertilizer prices is temporary and will normalize once production resumes at fertilizer factories,\u201d Agriculture Ministry advisor Mohamed Fahim told Moussa over the phone (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=Zix7-3bV7O8\" style=\"\" rel=\"noopener\">watch, runtime: 3:05<\/a>). Fahim noted that while \u201cthere is a shortage in the market, it isn't yet affecting agricultural operations due to reserves of subsidized fertilizers in agricultural cooperatives\u201d.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO ON THE AIRWAVES- <\/strong><strong>Ethiopia beg<\/strong><strong>ins fifth filling of the GERD soon<\/strong>: Ethiopia started the fifth filling of the Grand Ethiopian Renaissance Dam (GERD) on 20 July and will continue until September, Cairo University professor Abbas Sharaky told Sherif Amer (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=8vm4CxUO-aM\" style=\"\" rel=\"noopener\">watch, runtime: 24:06<\/a>). Sharaky commented that \u201cEthiopian officials confirmed that the filling of the GERD is now off the negotiation table. Sharaky warned that \u201cas long as there are no negotiations, Ethiopia has the option to store all remaining water,\u201d highlighting the threat by stating that \u201cevery liter of water currently stored in the dam is taken from Egypt\u2019s share.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture\/\">agriculture<\/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\/gerd\/\">GERD<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"626270\" 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=\"626270\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/el-gouna-becomes-egypts-largest-operator-of-private-marinas-plus-vortex-energy-portfolio-company-ignis-energia-kkr-to-produce-green-hydrogen-ammonia\/\">\r\n                            El Gouna becomes Egypt\u2019s largest operator of private marinas. PLUS: Vortex Energy portfolio company Ignis Energia + KKR to produce green hydrogen, ammonia                        <\/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\/27\/el-gouna-becomes-egypts-largest-operator-of-private-marinas-plus-vortex-energy-portfolio-company-ignis-energia-kkr-to-produce-green-hydrogen-ammonia\/\" 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\/27\/el-gouna-becomes-egypts-largest-operator-of-private-marinas-plus-vortex-energy-portfolio-company-ignis-energia-kkr-to-produce-green-hydrogen-ammonia\/')\">\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\/27\/el-gouna-becomes-egypts-largest-operator-of-private-marinas-plus-vortex-energy-portfolio-company-ignis-energia-kkr-to-produce-green-hydrogen-ammonia\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=El Gouna becomes Egypt\u2019s largest operator of private marinas. PLUS: Vortex Energy portfolio company Ignis Energia + KKR to produce green hydrogen, ammonia&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/el-gouna-becomes-egypts-largest-operator-of-private-marinas-plus-vortex-energy-portfolio-company-ignis-energia-kkr-to-produce-green-hydrogen-ammonia\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/el-gouna-becomes-egypts-largest-operator-of-private-marinas-plus-vortex-energy-portfolio-company-ignis-energia-kkr-to-produce-green-hydrogen-ammonia\/&title=El Gouna becomes Egypt\u2019s largest operator of private marinas. PLUS: Vortex Energy portfolio company Ignis Energia + KKR to produce green hydrogen, ammonia\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=El+Gouna+becomes+Egypt%E2%80%99s+largest+operator+of+private+marinas.+PLUS%3A+Vortex+Energy+portfolio+company+Ignis+Energia+%2B+KKR+to+produce+green+hydrogen%2C+ammonia+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F06%2F27%2Fel-gouna-becomes-egypts-largest-operator-of-private-marinas-plus-vortex-energy-portfolio-company-ignis-energia-kkr-to-produce-green-hydrogen-ammonia%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/el-gouna-becomes-egypts-largest-operator-of-private-marinas-plus-vortex-energy-portfolio-company-ignis-energia-kkr-to-produce-green-hydrogen-ammonia\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1761.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"626271\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/el-gouna-becomes-egypts-largest-operator-of-private-marinas-plus-vortex-energy-portfolio-company-ignis-energia-kkr-to-produce-green-hydrogen-ammonia\/1761-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1761.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1761.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1761.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1761.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626270\" class=\"content-area-description single-story post-626270 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-efg-hermes tag-el-gouna tag-enterpriseam tag-green-hydrogen tag-hospitality tag-ignis-energia tag-legislation-watch tag-renewables tag-tourism tag-vortex-energy 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\/.701e1a0d-d577-4558-bd8d-1efd5550dfef.mp3\"><\/audio><\/figure>\n<p class=\"tag-border-left\">HOSPITALITY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>State\u2019s plan to boost yacht tourism gets a push: <\/strong>El Gouna has opened its new 80 yacht-capacity Fanadir Marina, bringing the city\u2019s total yacht capacity to 680 and making El Gouna \u201cthe largest operator of private marinas in Egypt,\u201d El Gouna CEO Mohamed Amer said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1715.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Yacht tourism can bring in much-needed foreign currency, considering that it\u2019s wealthy individuals who own or have access to yachts. The daily spend of those visiting Egypt via yachts is 94% more than the average tourist, former Tourism Minister Khaled El Anany <a target=\"_blank\" href=\"https:\/\/gate.ahram.org.eg\/News\/2885748.aspx\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/gate.ahram.org.eg\/News\/2885748.aspx\" style=\"\" rel=\"noopener\">previously said<\/a>. Yacht tourism provides a great window to double the tourism spending of those visiting from the Gulf, tourism industry sources previously told us. Half of global nautical tourism is concentrated in the Mediterranean alone, which draws in over 30k yachts a year, according to the <a target=\"_blank\" href=\"https:\/\/www.sis.gov.eg\/Story\/115749\/%D8%B3%D9%8A%D8%A7%D8%AD%D8%A9-%D8%A7%D9%84%D9%8A%D8%AE%D9%88%D8%AA?lang=ar\" style=\"\" rel=\"noopener\">State Information Service<\/a>. European countries overlooking the Mediterranean are currently dominating the yacht tourism sector, attracting an annual USD 150 bn from the sector. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** We took a deep dive into the state\u2019s efforts to turn Egypt into a yacht tourism<\/strong><strong> destination <\/strong>in a Hardhat <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/54f273c2-39d4-4c3e-b02c-f28fcf9b377c\/with-an-eye-to-attract-more%253cmark%253e-tourism%253c%2Fmark%253e,-egypt-is-making-it-easier-for%253cmark%253e-yacht%253c%2Fmark%253e-owners-to-visit\" style=\"\" rel=\"noopener\">here<\/a> that we published last year.<\/p>\n<p class=\"tag-border-left\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent; font-weight: 600;\">Vortex Energy portfolio company Ignis to produce green hydrogen, ammonia&nbsp;<\/span><span style=\"background-color: transparent; font-weight: 600;\">with KKR:<\/span>&nbsp;Spanish renewables developer <a target=\"_blank\" href=\"https:\/\/ignis.es\/en\/\" style=\"\" rel=\"noopener\">Ignis Energia<\/a> \u2014 in which EFG Hermes\u2019 energy investment platform <a target=\"_blank\" href=\"https:\/\/www.vortexenergy.ae\/\" style=\"\" rel=\"noopener\">Vortex Energy<\/a> owns an equity stake <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/65a8fe4f-1dec-49a2-b755-187b7dec50cc\" style=\"\" rel=\"noopener\">since 2021<\/a> \u2014 has inked a strategic partnership agreement with private equity giant <a target=\"_blank\" href=\"https:\/\/www.kkr.com\/\" style=\"\" rel=\"noopener\">KKR<\/a> to launch a new platform to produce green hydrogen and green ammonia to power power energy-intensive industrial sectors in Spain and other countries, according to a <a target=\"_blank\" href=\"https:\/\/www.cliffordchance.com\/news\/news\/2024\/06\/clifford-chance-advises-ignis-on-a-partnership-with-kkr-to-devel.html\" style=\"\" rel=\"noopener\">statement<\/a> from Ignis\u2019 advisor on the agreement Clifford Chance. Under the agreement, the platform dubbed Ignis P2X will be owned evenly by Ignis and KKR, with the latter providing EUR 400 mn to develop future renewable energy projects.<\/p>\n<p class=\"tag-border-left\">LEGISLATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It looks like we may soon be a member of the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.fedagroup.org\/\" style=\"\" rel=\"noopener\">Fund for Export Development in<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.fedagroup.org\/\" style=\"\" rel=\"noopener\">Africa<\/a><\/strong> after MPs in the House yesterday greenlit a proposal for Egypt to join as a member. Budget Committee head Fakhri El Fiqi said that the agreement will help the country double its trade with the continent as a whole and boost exports to other African countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A USD 47 mn extension to a USAID rural development grant was also approved<\/strong>, pushing the grant\u2019s total value to USD 172 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The House also passed amendments to the law regulating the performance of economic<\/strong><strong> courts<\/strong>, proposed to fast-track settling economic disputes. MPs also given their final approval to amendments to the Civil and Commercial Procedures Law, which allow first instance and primary courts to handle larger cases. The changes were designed to better align with recent economic developments and currency fluctuations.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-gouna\/\">El Gouna<\/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\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ignis-energia\/\">Ignis Energia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vortex-energy\/\">Vortex Energy<\/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=\"626272\" 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=\"626272\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/the-fruits-of-a-global-bnaire-tax-scheme\/\">\r\n                            Global bn\u2019aire tax scheme would raise USD 250 bn annually -G20 report                        <\/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\/27\/the-fruits-of-a-global-bnaire-tax-scheme\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/the-fruits-of-a-global-bnaire-tax-scheme\/1724-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1724.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1724.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1724.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1724.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626272\" class=\"content-area-description single-story post-626272 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-g20 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\/.5efb70c2-3923-4a3e-acda-103baf0b375b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>What would it look like if global b\u2019naires had to pay the taxman?<\/strong> A global scheme to tax the world\u2019s 3k b\u2019naires could raise up to USD 250 bn annually, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1723.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a> by French economist Gabriel Zucman, who maintains the scheme is feasible. Commissioned by Brazil, which currently holds the G20 presidency, the study highlights that the OECD\u2019s <a target=\"_blank\" href=\"https:\/\/www.weforum.org\/agenda\/2024\/02\/oecd-minimum-tax-rate\/\" style=\"\" rel=\"noopener\">recently introduced 15% global corporate tax<\/a> attests to the potential success of imposing a global tax on wealthy individuals. Initially proposed by Brazil\u2019s finance minister in <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/brazil-g20-economy-finance-ministers-tax-super-rich-282e2982e53bfb7f63752bc969da6d72\" style=\"\" rel=\"noopener\">February<\/a> and <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/france-backs-global-minimum-tax-billionaires-g20-2024-02-28\/\" style=\"\" rel=\"noopener\">endorsed<\/a> by French Finance Minister Bruno Le Maire, the draft proposal will be on the table for discussion at the upcoming G20 finance ministers\u2019 meeting in Rio de Janeiro next month.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The study proposes a minimum annual tax of 2% on individuals with a net worth exceeding USD 1 bn.<\/strong> That\u2019s a departure from the current average tax rate among b\u2019naires of 0.3%, albeit far below the global average income tax rate. Zucman recommends an additional levy to ensure b\u2019naires contribute at least 2% of their wealth in taxes each year. The estimated tax revenue would be directed towards funding public services like education, healthcare, and climate change mitigation.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not everyone is on board:<\/strong> Implementing a global tax could be impractical with the \u201ctwo countries with the largest number of b\u2019naires [being] the US and China. Neither will realistically implement this,\" one tax policy pundit told the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/8e7adbe6-22c7-45c6-8b81-b2173240d78c\" style=\"\" rel=\"noopener\">Financial Times<\/a>, expressing skepticism about the practicality of the proposal. For the tax to be effective, the report stressed that it is essential for countries to establish enhanced cross-border information sharing mechanisms on affluent individuals, including improving the identification of beneficial ownership across various assets such as financial holdings, properties, companies, and other legal entities.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not going to be easy, but it\u2019s feasible \u2014 even with current global political turbulence<\/strong>, Zucman maintains. He points to the recent global corporate tax \u2014 which was met with <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/cd88500d-a063-4f15-b6ad-e453a1d8b16d\" style=\"\" rel=\"noopener\">fierce pushback<\/a> and is yet to be ratified by the US Congress \u2014 as evidence of possible change, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-25\/brazil-unveils-global-billionaire-tax-plan-that-has-split-g-20\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. However, for Brazil to garner support for the proposal after the end of its G20 presidency, it must demonstrate success with smaller reforms, as its \u201creal challenge is to maintain visibility and momentum,\" former chief broker for the global corporate tax agreement Pascal Saint-Amans told the news outlet.<\/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>All five major Asian benchmarks we follow are solidly in the red in early trading this <\/strong><strong>morning. <\/strong>The ASX 200 (-1.3%) and the Nikkei (-1.1%) are leading the dip, followed by the Hang Seng, Kospi, and Shanghai Composite. The selldown comes as the JPY hit a 38-year low against the greenback, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/06\/27\/asia-markets-live-yen-hits-near-38-year-low-overnight-.html\" style=\"\" rel=\"noopener\">CNBC<\/a> reports.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">And if futures are any indicator, <strong>US and European markets are also looking at selling <\/strong><strong>pressure <\/strong>when the opening bell sounds later today.<\/p><p><a target=\"_blank\" id=\"t.a897fa25afa3f34618ac5a9751fc63eefe5f8a03\" 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\">27,501<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: +10.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 48.00<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.14<\/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>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 47.98<\/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 48.08<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,656<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: -2.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,966<\/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: -6.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,006<\/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: -1.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,478<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +14.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,225<\/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: +6.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,916<\/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: +8.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 85.25<\/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%<\/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 2.63<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-4.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,312.20<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 61,044.30<\/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\">-1.4% (YTD: +44.4%)<\/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 0.9% at today\u2019s close<\/strong> on turnover of EGP 5.2 bn (17% above the 90-day average). Local investors were net buyers. The index is up 10.5% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Juhayna (+6.5%), Beltone Holding (+5.2%), and Palm Hills Development (+4.9%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>GB Corp (-2.0%), Mopco (-1.6%), and Talaat Moustafa Group (-1.2%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/g20\/\">G20<\/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<section id=\"626274\" 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=\"626274\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/06\/27\/my-morning-routine-maha-mandour-founding-partner-of-coreangels-mea\/\">\r\n                            My Morning Routine: Maha Mandour, founding partner of COREangels MEA                        <\/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\/27\/my-morning-routine-maha-mandour-founding-partner-of-coreangels-mea\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Speaking to us this week is Maha Mandour (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/mahamandour?utm_source=share&amp;utm_campaign=share_via&amp;utm_content=profile&amp;utm_medium=android_app\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), founding partner of COREangels MEA.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My name is Maha Mandour, founding partner of COREangels MEA and managing director<\/strong><strong> of PTS Investments Holdings.<\/strong> Three years ago, I had a dream to become part of the venture capital ecosystem. I come from a tech background, but most of my experience was in the venture building model, which is why I was interested in launching PTS as a venture building company in the MEA region. We\u2019ve been working with two arms \u2014 one of them being COREangels MEA, an angel network fund. We now have five companies in our portfolio, and we\u2019re still growing further in the market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Being managing director is not an easy job. <\/strong>I don\u2019t really work on a daily routine, as much as on a weekly routine. My day-to-day responsibilities involve following up with our managing partners, our technical team, and our business operations team on a daily basis. However, on some days, I\u2019m just answering emails and attending online meetings. I\u2019m also a single mom \u2014 so that\u2019s also a huge part of my day. My kids are usually in the office with me, and they even get assigned some tasks to do on their vacations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I received a diploma from the Information Technology Institute (ITI) <\/strong>with a specialization in triple play services, back when that was still a novel field in Egypt. When I was done studying, I found myself being asked to open a whole new department for a number of different companies using what I learned at ITI. So, I had to do everything from R&amp;D all the way to selling a final product and building a team for companies I worked for, and that\u2019s something I\u2019ve had to do several times for multiple entities. It made me feel as though I was a mini company of sorts. But, I was really passionate about it. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Those experiences are also why I\u2019m a big believer in the corporate venture builder model.<\/strong> It\u2019s a way to ensure that entrepreneurs aren\u2019t alone when they\u2019re building their startups, that they have people around them that incubate them and help their ideas grow. It\u2019s definitely a trend that I see continuing in the coming period. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019m definitely passionate about the work and I enjoy the challenges.<\/strong> Even with raising the kids and all the challenges that come with working in PTS \u2014 to me, it\u2019s not work, it\u2019s a passion. It\u2019s one thing to just go do your set of tasks for the day and go home, and another thing entirely to be doing what you like \u2014 and I like what I\u2019m doing a lot.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PTS acts as a venture builder and we have a strategic vision to build companies into<\/strong> <strong>complete ecosystems under the umbrella of PTS Holdings.<\/strong> We have a company that works on the programs and projects, we have the venture studio, and then we have COREangels MEA. It\u2019s a member of COREangels International, which works to create cross-global investment openings among different regions. It\u2019s a network of 11 funds, and our portfolio currently holds 90 companies. It\u2019s a network of experienced business angels.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I met the founders of COREangels International three years ago <\/strong>when the company wasn\u2019t focused on our region at the time. But I was drawn to their model because they don\u2019t just fund a startup \u2014 they also mentor the startups that they invest in. I don\u2019t come from a place of just wanting to put some funds in a startup and stop there, so I was drawn to the idea of helping startups with finding where we can add value. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We help startups expand both within the MEA region and beyond,<\/strong> and we provide them with the venture studio services to help their growth. We also follow up with our startups on a quarterly basis and provide hands-on guidance, which decreases their risks of failure, and we provide startups that we think have potential with the chance to acquire more funds through a fundraiser with an international investment committee.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AI startups are a particularly attractive sector for investors in the current moment.<\/strong> Fintech in general is a huge market \u2014 especially in Africa. Agritech is another booming industry that investors have been attracted to in the region. In terms of trends in the VC industry, I think corporate venture capital will be booming in the region very soon.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I enjoy reading Enterprise, but I also check LinkedIn and Twitter first thing in the morning<\/strong> <strong>to see what I missed during the night.<\/strong> I wake up at 5 am, perform the Fajr prayer, and then I have an hour before the kids wake up for school \u2014 the most precious hour of the day. I\u2019m not a big breakfast person, I\u2019ll usually just have my coffee and check my emails before waking up the kids and heading to the office at around 8 am, where I have another hour to myself before catching up with our operations manager on the status of the tasks at hand. I then have a break at around 2 pm, where I go pick the kids up from school and bring them over to the office to have a quick snack together before they have to do their schoolwork.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One constant in my day is having to watch a movie with my kids during the last hour of<\/strong> <strong>my day before we all go to sleep.<\/strong> If they both want to watch different things, I\u2019ll have to spend an hour with each of them separately \u2014 but it has to happen. Another constant for me is the Fajr prayer. When I don\u2019t start my day with it, I always feel like something\u2019s wrong. Even when I\u2019m on vacation, I\u2019ll still do my prayer, have my coffee, and go back to sleep. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Back when I was in fourth grade, I already had a notebook where I wrote down all my <\/strong><strong>tasks<\/strong> and how long I\u2019d need to complete each one. So I\u2019ve been organized ever since I can remember, and it\u2019s carried over until today. I don\u2019t have a notebook now, but my mind is always organized in the morning, when I plan out my day and keep note of everything I need to do throughout the entire week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My goals on the personal and professional levels are one and the same.<\/strong> On a professional level, I\u2019d like to see PTS continue to expand and bridge the gap between the MEA region and the rest of the world. On a personal level, everyone at PTS is like a family member to me. I dream of having my two kids, Salma and Youssef, one day being at my side at PTS and taking care of the work alongside me and the rest of the team. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I don\u2019t necessarily want to separate my work from my life \u2014 on the contrary, I enjoy<\/strong> <strong>mixing them together. <\/strong>I like to keep my kids in the loop on problems I\u2019m facing at work and some of the challenges we have to overcome, and then I hear about the problems that they face during their days as well.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When it\u2019s time to switch off and relax, you\u2019ll find me hanging out with my kids and their<\/strong> <strong>friends,<\/strong> playing Playstation with them, and throwing a few parties for them over at our house. I\u2019m also a big fan of media that focuses on female empowerment. Whether it\u2019s a book, a show, or whatever else, I find it really inspiring and I just keep searching for more content that centers around that. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My dad was my role model, but he never gave me any direct advice<\/strong> \u2014 he just told me that he\u2019s confident in my ability to make my own decisions. But he always said that everyday, God will always give you what you\u2019re due in some way, even if some things aren\u2019t going well. So if work is rough, at least the kids are okay \u2014 and if there are challenges with the kids, at least work is good, and so on. It\u2019s a way for me to always see the glass half full, and be grateful for where I am at any given moment.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/coreangels\/\">COREangels<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture 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=\"626276\" 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\/27\/626276\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626276\" class=\"content-area-description single-story post-626276 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>29-30 June (Saturday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/17cb3909-f06f-4dc7-95d4-281f07e6c8dd\/\" style=\"\">EU-Egypt Investment Conference<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 June (Sunday): June 30 Revolution Day (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-3 July (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cccpa-eg.org\/news-details\/1172\" style=\"\">Aswan Forum for Sustainable Peace and Development<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">7 July (Sunday): National holiday in observance of Islamic New Year (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-11 July (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0DcrwZTxB6cn64npMMrroZYZmhRyJNHjK3hVrWxuo7DDXXETR8mqBnTAsF21CutYul\" style=\"\">The Japan-Arab Economic Forum<\/a><\/span><span style=\"font-weight:400;\">, Tokyo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16-17 July (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egyptminingforum.com\/\" style=\"\">The Egypt Mining Forum<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">18 July (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23 July (Tuesday): Revolution Day (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4-5 August (Monday-Tuesday): Egypt Expat Forum.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-5 September (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.airport-technology.com\/sponsored\/dates-announced-for-egypt-international-airshow-2024\/\" style=\"\">Egypt International Airshow<\/a><\/span><span style=\"font-weight:400;\">, El Alamein International Airport.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 September (Sunday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25-26 September (Wednesday-Thursday): The Asian Infrastructure Investment Bank\u2019s (AIIB) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aiib.org\/en\/news-events\/events\/annual-meetings\/2024\/index.html\" style=\"\">2024 annual meeting<\/a><\/span><span style=\"font-weight:400;\">, Samarkand, Uzbekistan.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 October (Sunday): Armed Forces Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17 October (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-17 October (Sunday-Thursday): Cairo Water Week, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cairowaterweek.eg\/\" style=\"\">Water and Climate: Building Resilient Communities<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-27 October (Monday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.imfconnect.org\/content\/imf\/en\/annual-meetings\/FutureMeetings.html\" style=\"\">The World Bank and IMF annual meetings<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-8 November (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/wuf.unhabitat.org\/\" style=\"\">World Urban Forum<\/a><\/span><span>, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypt-energy.com\/en\/home.html\" style=\"\">Egypt Energy Show<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>June 2024: Gov\u2019t expects to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/news\/story\/cfdc99d8-291f-4b7c-8af8-8e1cccc74de5\" style=\"\">finalize sale<\/a><\/span><span style=\"font-weight:400;\"> of Beni Suef combined-cycle power plant.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1H 2024: Gov\u2019t expects to finalize sale of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/317bf16c-ec16-489f-ac56-05ad40a04693\/another-usd-820-mn-coming-our-way-from-the-imf\" style=\"\">four water desalination plants<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2H 2024: Gov\u2019t to launch the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8f7fd9b9-a159-4b31-b974-f809d55f55d9\/egyptian-telecom-providers-suspend-e-wallet-fx-payments\" style=\"\">Cairo Ring Road BRT buses<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3Q 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid04Z7JWbGbYGqFTr8kF2XNgc5Dq2cUR3hn25JDryhDjLnPJkYgaKaqbwzQr6A4QgB2l\" style=\"\">Egyptian-Armenian Joint Committee.<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>November 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LLPJRjsu6SZLwtRHuLmCQxoAZB3xaXVXH8aYkMSEH3ae4aW6JCZaPe5h5u9nKmcRl\" style=\"\">Egypt to host<\/a><\/span><span style=\"font-weight:400;\"> the World Urban Forum (WUF12).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2024: The launch of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sis.gov.eg\/Story\/192175\/Trial-Operation-of-the-Sokhna-El-Alamein-Matrouh-High-Speed-Train-Starts-by-the-End-of-this-Year?lang=en-us\" style=\"\">high-speed train<\/a><\/span><span style=\"font-weight:400;\"> line linking Ain Sokhna with Al Alamein City. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2024: Shalateen Mining Company to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/74373364-7f95-4157-9090-67ee1584c341\/nuca-to-hand-out-plots-to-four-industrial-developers-within-days.-plus:-news-from-bluev,-tmg,-and-tabreed\" style=\"\">launch a gold exploration tender<\/a><\/span><span style=\"font-weight:400;\"> in the Eastern Desert.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2Q 2025: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad18b775-3e22-4e6b-b4fc-9dd30f4b85ad\/abu-dhabi-ports-to-build-and-run%253cmark%253e-safaga-terminal%253c%2Fmark%253e,-cruise-ship-infrastructure\" style=\"\">Safaga Terminal 2<\/a><\/span><span> to start operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20 January-7 February: Egypt to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f9a5a94-cc1c-4fc1-b8c6-7c02d15cae3b\/ramadan-kareem\" style=\"\">host the African Games<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2027: Trial operations at the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52aa0e65-5b6f-4c84-aa49-70ac4152bb87\" style=\"\">Dabaa nuclear power plant<\/a><\/span><span style=\"font-weight:400;\"> expected to take place.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>USD 600 mn ethane gas import company in the works | China\u2019s Befar heads to the SCZone | FDI inflows down, outflows up<\/p>\n","protected":false},"featured_media":626247,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-626246","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"4d3d09de-aa63-4bd4-9d1b-681bcc5e7ddc","teaser":"USD 600 mn ethane gas import company in the works | China\u2019s Befar heads to the SCZone | FDI inflows down, outflows up","photo_url":"https:\/\/ent.news\/2024\/2\/2831.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>Challenges mount on Egyptian industries amid power cuts and gas shortages - 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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