{"id":626355,"date":"2024-07-01T00:00:00","date_gmt":"2024-07-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=626355"},"modified":"2025-12-17T09:05:12","modified_gmt":"2025-12-17T09:05:12","slug":"agreements-and-mous-totalling-eur-67-7-bn-inked-at-egypt-eu-investment-conference","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/agreements-and-mous-totalling-eur-67-7-bn-inked-at-egypt-eu-investment-conference\/","title":{"rendered":"Agreements and MoUs totalling EUR 67.7 bn inked at Egypt-EU Investment Conference"},"content":{"rendered":"<section id=\"626357\" 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=\"626357\">\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\/07\/01\/electricity-bill-hikes-put-on-hold-until-september-electricity-ministry-source\/\">\r\n                            Electricity bill hikes put on hold until September -Electricity Ministry source                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/178.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626357\" class=\"content-area-description single-story post-626357 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-electricity tag-electricity-ministry tag-enterpriseam tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.c8a32eed-c505-4c35-820b-97b1dd29d4cc.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good <\/strong><strong>morning, folks. <\/strong>We may have only had an extra day off over the weekend, but it feels like we\u2019ve been off for weeks by the amount of local business and economy news we\u2019ve picked up. In today\u2019s issue, we\u2019ve got a rundown of everything you need to know about the Egypt-EU Investment Conference that wrapped yesterday, unidentified gov\u2019t sources suggesting that the new cabinet line-up will be announced this week, and much, much more.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And remember, we\u2019re back to our normal power cut schedule<\/strong>, after the country had to deal with three hour (and occasionally longer) cuts throughout last week. With planned outages back to two hours a day, the countdown has begun until the third week of July when the government is aiming to do away with blackouts for the summer.<\/p><p class=\"tag-border-left\">WATCH THIS SPACE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a>  <strong>#1- <\/strong><strong>Electricity pric<\/strong><strong>e hikes postponed until September as blackouts persist: <\/strong>The government has decided to postpone any hikes to electricity prices until September, a source from the Electricity Ministry told Enterprise on the condition of anonymity. The government has put off implementing the hikes until the electricity crisis is resolved, the source said. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#2- Is this the week we see a new government sworn in?<\/strong> The new government lineup could be sworn in within a few days, following Prime Minister Moustafa Madbouly meeting with more than 65 potential candidates over the last month, unidentified government sources told local news outlets over the weekend (<a target=\"_blank\" href=\"https:\/\/www.almasryalyoum.com\/news\/details\/3202718\" style=\"\" rel=\"noopener\">here<\/a>, <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=29062024&amp;id=fab7ad01-609f-4929-8da6-4fbb6705a570\" style=\"\" rel=\"noopener\">here<\/a>, <a target=\"_blank\" href=\"https:\/\/www.masrawy.com\/news\/news_egypt\/details\/2024\/6\/29\/2604202\" style=\"\" rel=\"noopener\">here<\/a>, and <a target=\"_blank\" href=\"https:\/\/gate.ahram.org.eg\/News\/4892705.aspx\" style=\"\" rel=\"noopener\">here<\/a>).<\/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>#3- State IPO program to ramp up again in October:<\/strong> Shares in government-owned service and fintech companies will be offered up in IPOs beginning in October, Sovereign Fund of Egypt CEO Ayman Soliman reportedly told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/06\/30\/%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D9%85%D8%B5%D8%B1-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%AF%D9%8A-%D9%84%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D8%B9%D9%88%D8%AF%D8%A9-%D8%A8%D8%B1%D9%86%D8%A7%D9%85%D8%AC-%D8%A7%D9%84%D8%B7%D8%B1%D9%88%D8%AD%D8%A7%D8%AA-%D9%81%D9%8A-%D8%A7%D9%84%D8%A8%D9%88%D8%B1%D8%B5%D8%A9-%D8%A7%D8%B9%D8%AA%D8%A8%D8%A7%D8%B1%D8%A7-%D9%85%D9%86-%D8%A3%D9%83%D8%AA%D9%88%D8%A8%D8%B1-%D8%A7%D9%84%D9%85%D9%82%D8%A8%D9%84\" style=\"\" rel=\"noopener\">Al Arabiya Business<\/a>. The companies will include ones that have previously been offered to investors, Soliman added.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- A fresh renewable<\/strong><strong>s target: <\/strong>The Electricity Ministry wants renewables to make up 58% of Egypt\u2019s total energy mix by 2040, up from its current target of 42% by 2030, Electricity Minister Mohamed Shaker said at the Egypt-EU conference, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/egypt-looking-raise-target-renewable-energy-58-by-2040-2024-06-29\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. <\/p><p class=\"tag-border-left\">PSA-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Restrictions on retail hours to stay till late September:<\/strong> The new opening hours schedule for shops, malls, cafes and restaurants are effective as of today and will last until Thursday 26 September, according to a statement from the <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MOLD.eg\/photos\/%D8%A7%D9%84%D9%84%D8%AC%D9%86%D8%A9-%D8%A7%D9%84%D8%B9%D9%84%D9%8A%D8%A7-%D9%84%D8%AA%D8%B1%D8%A7%D8%AE%D9%8A%D8%B5-%D8%A7%D9%84%D9%85%D8%AD%D8%A7%D9%84-%D8%A7%D9%84%D8%B9%D8%A7%D9%85%D8%A9-%D8%AA%D8%B9%D9%84%D9%86-%D8%A7%D9%84%D9%85%D9%88%D8%A7%D8%B9%D9%8A%D8%AF-%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D9%84%D9%81%D8%AA%D8%AD-%D9%88%D8%BA%D9%84%D9%82-%D8%A7%D9%84%D9%85%D8%AD%D8%A7%D9%84-%D9%88%D8%A7%D9%84%D9%85%D9%88\/812286884415317\/?paipv=0&amp;eav=AfanvaM0N6wx6ik5N6qzeIvWTVJP2Q_4j5XT3dbk146vKChbljHE7Tk3RAvi0tQJq58&amp;_rdr\" style=\"\" rel=\"noopener\">Local Development Ministry<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> Shops will be allowed to open until 10:00 pm, while cafes, restaurants, and malls will have to close their doors at 12:00 AM, except on weekends and public holidays, in which shops and malls will be allowed to close one hour later. Supermarkets, groceries, pharmacies, and other essential facilities are exempted from the restrictions.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s another summery day in Cairo today,<\/strong> with a high of 39\u00b0C and a low of 25\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 34\u00b0C and a low of 22\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Want to subscribe?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p class=\"tag-border-left\">NEWS TRIGGERS- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s the first week of July \u2014 <\/strong>here are the key news triggers to keep your eyes on this month:<\/p><ul>\n<li><strong>Checking in on the non-oil private sector:<\/strong> S&amp;P Global will publish Egypt\u2019s PMI figures for June on Thursday 4 July, measuring the country\u2019s non-oil private sector activity. Last month saw business activity in Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/00137b19-6fbc-49ee-a1f2-1f5ad0b91e46\/egypt%25e2%2580%2599s-non-oil-private-sector-inches-closer-to-growth\" style=\"\" rel=\"noopener\">inch closer to growth<\/a> after 42 straight months of contraction.<\/li>\n<li><strong>Fresh inflation data incoming: <\/strong>Capmas and the CBE are expected to publish June\u2019s inflation data on Wednesday 10 July. Policy makers and the business community are hoping for the recent downward trend in inflation levels to continue after annual urban inflation <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9fc35d50-c697-4549-98a8-95ee72f176cb\/%253cmark%253einflation%253c%2Fmark%253e-retreats-to-lowest-level-in-16-months\" style=\"\" rel=\"noopener\">cooled to its lowest level in 16 months in May<\/a>.<\/li>\n<li><strong>Foreign reserves:<\/strong> The CBE is expected to release June\u2019s foreign reserves figures this week. Reserves hit <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/am\/2024-06-05\/5\" style=\"\" rel=\"noopener\">a record USD 46.1 bn<\/a> in May after the final tranche of the Ras el Hekma funds landed in state coffers.<\/li>\n<li><strong>Interest rates:<\/strong> The central bank\u2019s Monetary Policy Committee will meet on 18 July to review interest rates. The CBE <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dcf6e23c-70a9-499b-bb2c-467f1a22252b\/cbe-leaves-interest-rates-unchanged-in-line-with-expectations\" style=\"\" rel=\"noopener\">left rates unchanged<\/a> when it last met in May. <\/li>\n<\/ul><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>The third tranche of our IMF package could be days away: <\/strong>The IMF Executive Board is <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/About\/executive-board\/EBC-Scheduled#top\" style=\"\" rel=\"noopener\">scheduled<\/a> to meet on 10 July to discuss the third review of our USD 8 bn loan program. The greenlight from the board will see the Fund disburse a fresh USD 820 tranche into the state coffers and will allow Egypt to apply for an additional USD 1.2 bn in climate finance. Egypt and the IMF <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfbd78c7-f717-4c87-b12e-7c5cdec4e021\/%253cmark%253eimf%253c%2Fmark%253e-reaches-staff-level-agreement-on-third-loan-review\" style=\"\" rel=\"noopener\">reached a staff-level agreement<\/a> on the third review early last month.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"tag-border-left\">DATA POINT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>Egypt\u2019s external debt decreased some USD 7.4 bn to USD 160.6 bn in 1Q 2024<\/strong>, down from USD 168.0 bn recorded at the end of 2023, according to <a target=\"_blank\" href=\"https:\/\/mped.gov.eg\/assets\/uploads\/NSDP.html#1\" style=\"\" rel=\"noopener\">Planning Ministry figures<\/a>.<\/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>It\u2019s once again all politics, all the time<\/strong> on the front pages of the world\u2019s business press, and centrist and left-of-center politicians, pundits, and journalists are wringing their hands across much of the northern hemisphere. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- France\u2019s far-right Rassemblement National took the first round in snap parliamentary <\/strong><strong>elections <\/strong>called by President Emmanuel Macron. Projections see the RN taking 33.2% of the vote. The leftist Nouveau Front Populaire likely took 28.1%, while Macron\u2019s Ensemble took just 21%. <strong>Turnout was high \u2014 20% points better than in 2020<\/strong>, France\u2019s <a target=\"_blank\" href=\"https:\/\/www.lesechos.fr\/elections\/legislatives\/legislatives-2024-le-rn-en-position-de-force-avant-le-second-tour-2104849\" style=\"\" rel=\"noopener\">Les Echos<\/a> writes.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s the second round run-off that really matters<\/strong>, Germany\u2019s <a target=\"_blank\" href=\"https:\/\/www.handelsblatt.com\/politik\/international\/parlamentswahlen-rechtsnationale-bei-erster-runde-der-parlamentswahlen-in-frankreich-vorne\/100047876.html\" style=\"\" rel=\"noopener\">Handeslblatt<\/a> notes, and it\u2019s scheduled for July 7. \u201cThe final result will depend on days of horsetrading before next week's run-off,\u201d Reuters writes.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want more? <\/strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/europe\/far-right-looms-as-france-kicks-off-parliamentary-elections-5828d7ac\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/581cde6f-fc6d-4618-a505-8070c699edc0\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/france-vote-election-that-could-put-far-right-government-2024-06-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- British voters go to the polls on Thursday<\/strong>, and Labour still enjoys what the BBC calls a <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/uk-politics-68079726\" style=\"\" rel=\"noopener\">\u201cbig lead\u201d<\/a> (about 20 percentage points) over Rishi Sunak\u2019s Conservatives. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Joe Biden\u2019s top advisors are fighting calls that he step down as the Democrats\u2019 <\/strong><strong>nominee<\/strong>, portraying his poor performance on Thursday night as a <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/06\/30\/us\/politics\/biden-debate-trump-reaction.html\" style=\"\" rel=\"noopener\">\u201cblip\u201d<\/a> and the result of <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/joe-bidens-disastrous-debate-blamed-bad-preparation-exhaustion-2024-06-30\/\" style=\"\" rel=\"noopener\">\u201cbad preparation and exhaustion\u201d<\/a> as <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/06\/30\/us\/politics\/biden-debate-anxious-democrats.html\" style=\"\" rel=\"noopener\">his family tells him to keep fighting<\/a> and <a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2024\/06\/30\/biden-camp-david-family-debate-00165970\" style=\"\" rel=\"noopener\">plots the ouster of his top advisors<\/a>, who they blame for the performance. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bottom line: <\/strong>A new poll on Sunday showed that nearly <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/8d19f50c-5da2-4091-a086-37b75a172931\" style=\"\" rel=\"noopener\">three quarters of voters think he<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/8d19f50c-5da2-4091-a086-37b75a172931\" style=\"\" rel=\"noopener\">should end<\/a> his re-election campaign. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH KNOWING on this hot summer morning:<\/strong><\/p><ul>\n<li><strong>EY has a new boss. <\/strong>Today is <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f7105c3c-2bf8-43e3-a7ec-fdbf2ffeb61c\" style=\"\" rel=\"noopener\">Janet Truncale<\/a> \u2019s first day on the job;<\/li>\n<li><strong>Hungary takes over the rotating EU presidency <\/strong>today;<\/li>\n<li><strong>Ultra-Orthodox men in Israel <\/strong>have taken to the streets <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/ultra-orthodox-israeli-men-protest-against-military-draft-order-c84060e8\" style=\"\" rel=\"noopener\">to protest<\/a> that they\u2019re now subject to mandatory military service. <\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CIRCLE YOUR CALENDAR- For our fellow tech nerds: <\/strong>Samsung will hold its <a target=\"_blank\" href=\"https:\/\/news.samsung.com\/global\/invitation-galaxy-unpacked-july-2024-galaxy-ai-is-here\" style=\"\" rel=\"noopener\">Unpacked<\/a> event on 10 July and Google will unveil its <a target=\"_blank\" href=\"https:\/\/9to5google.com\/2024\/06\/30\/google-pixel-9-early\/\" style=\"\" rel=\"noopener\">Pixel 9<\/a> on 13 August \u2014 two months ahead of what most tech-watchers had expected.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WATCH THIS SPACE- <\/strong>The US Fed\u2019s Open Markets Committee will release meeting minutes and its latest economic forecast on Wednesday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2495.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue:<\/strong> We speak to a number of education sector veterans to find out what their demands are in terms of tuition fee hikes, what challenges they are facing, and how the government can help out.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity-ministry\/\">Electricity Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span 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class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1329.png?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Discover your dream getaway<\/span><span> with our signature collection of vacation homes and let our expert team craft your perfect holiday experience.<\/span><\/p>\n<\/div>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"626360\" 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=\"626360\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/egypt-inks-eur-67-7-bn-worth-of-agreements-and-mous-at-egypt-eu-investment-conference\/\">\r\n                            Egypt inks EUR 67.7 bn worth of agreements and MoUs at Egypt-EU Investment Conference                        <\/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             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data-image-meta=\"[]\" data-image-title=\"1898.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1898.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1898.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626360\" class=\"content-area-description single-story post-626360 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-abdel-fattah-el-sisi tag-bp tag-deme tag-east-port-said tag-elaraby-group tag-enterpriseam tag-eu tag-fertiglobe tag-green-ammonia tag-green-hydrogen tag-hassan-allam-holding tag-infinity tag-investment-watch tag-manufacturing tag-masdar tag-mopco tag-new-and-renewable-energy-authority tag-orascom-construction tag-renewables tag-scatec tag-sovereign-fund-of-egypt tag-suez-canal-economic-zone tag-taqa-arabia tag-telecom-egypt tag-vestas-wind-systems tag-voltalia 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\/2025\/1\/.0fd1fbf4-c13f-4a2b-b6f0-c3a6bcc628a7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A flurry of fresh agr<\/strong><strong>eements with our EU partners: <\/strong>European firms inked a whole lot of agreements with their Egyptian counterparts during the two-day <a target=\"_blank\" href=\"https:\/\/invegyeu.com\/\" style=\"\" rel=\"noopener\">Egypt-EU Investment Conference<\/a> that wrapped up yesterday. Prime Minister Moustafa Madbouly took the stage at the end of conference and <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/966767198827034?ref=embed_post\" style=\"\" rel=\"noopener\">told the audience<\/a> that 29 agreements and MoUs had been signed over the event totalling EUR 49 bn with EU-affiliated entities. On top of this, a further six agreements and MoUs with non-EU-affiliated entities that export to the EU inked a further EUR 18.7 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TL;DR: <\/strong>The two-day conference brought together over 1k private sector players from both sides and officials including President Abdel Fattah El Sisi and EU Commission Head Ursula von der Leyen. <strong>We\u2019ve also got all the development finance updates from the conference you need to know in the news well, below.<\/strong><\/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\"><strong>It\u2019s not an Egyptian investment conference without fresh green hydrogen agreements<\/strong>, and this conference was no exception, with investments in the sector bringing in the biggest investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Renewable energy and especially green hydrogen targets are central to the economic strategy for President Abdel Fattah El Sisi\u2019s third term, which outlines plans to turn Egypt into a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15d6f791-948f-4bbb-9bd3-3ddb57475e44\/a-whole-lot-of-green-ambitions-for-el-sisi%25e2%2580%2599s-new-term\" style=\"\" rel=\"noopener\">regional hub for green hydrogen<\/a> production by 2026 and a global hub by 2030. The country aims to produce 3.2 mn tons of green hydrogen per year by 2029 and 9.2 mn tons per year by 2040.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Four energy players link up to set up a USD<\/strong><strong> 15 <\/strong><strong>bn green hydrogen project: <\/strong>Our friends at renewables firm Infinity Power, Hassan Allam, UAE\u2019s Masdar, and global energy giant BP will set up a USD 15 bn green hydrogen project in the Suez Canal Economic Zone under an agreement inked yesterday during the conference, Infinity Chairman Mohamed Mansour told Enterprise. The project, currently in the feasibility studies phase, will be fully operational in ten years time.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- A EUR 24 bn green hydrogen facility in Gargoub: <\/strong>An international consortium led by Belgian energy firm <a target=\"_blank\" href=\"https:\/\/www.deme-group.com\" style=\"\" rel=\"noopener\">DEME Group<\/a> will set up a green hydrogen and green ammonia plant in the Port of Gargoub\u2019s industrial zone after the firm inked an agreement with the New and Renewable Energy Authority (NREA) and the Alexandria Port Authority, according to separate statements from the <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/story.php?story_fbid=965917708911983&amp;id=100064812882317&amp;mibextid=WC7FNe&amp;rdid=f87hyLxldHAhpMd3\" style=\"\" rel=\"noopener\">cabinet<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.deme-group.com\/news\/deme-expands-green-hydrogen-portfolio-hyport-production-facility-egypt\" style=\"\" rel=\"noopener\">company<\/a>. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- USD 10 bn green a<\/strong><strong>mmonia project in East Port Said:<\/strong> The Sovereign Fund of Egypt (SFE and <a target=\"_blank\" href=\"https:\/\/www.dai.com\/our-work\/projects\/egypt-business-egypt\" style=\"\" rel=\"noopener\">DAI Infrastructure<\/a> signed a USD 10 bn agreement to set up a green ammonia project at East Port Said, DAI Infrastructure Vice Chairman Mourad Sami told Enterprise. Dubbed Ra, the project will include a USD 4.4 bn ammonia facility and a USD 5 bn renewable energy facility to power the ammonia plant, Sami added. Once fully operational, the East Port Said facility will have a production capacity of 2 mn tons per year and is expected to bring in USD 2 bn each year, Sami told us, adding that DAI will break ground on the project in Q1 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who else is on the project? <\/strong>Several European groups and financial institutions, including Greek shipping firm <a target=\"_blank\" href=\"https:\/\/www.naftomar.gr\/\" style=\"\" rel=\"noopener\">Naftomar<\/a> \u2014 which will provide shipping services and take off some of the project\u2019s production \u2014 are co-investors with DAI on the project, according to Sami. Sami confirmed to Enterprise that most of the funds will be secured from the US and Europe, with Allianz credit ins. subsidiary <a target=\"_blank\" href=\"https:\/\/www.allianz-trade.com\/en_global\/euler-hermes-is-now-allianz-trade.html\" style=\"\" rel=\"noopener\">Euler Hermes<\/a> providing export credit agency coverage.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- A EUR 7 bn plant by EDF + Zero Waste:<\/strong> Egypt's NREA and the Red Sea Ports Authority signed an agreement with France's <a target=\"_blank\" href=\"https:\/\/www.edf-re.com\/\" style=\"\" rel=\"noopener\">EDF Renewables<\/a> and Egyptian-Emirati firm Zero Waste for a EUR 7 bn three-phase green hydrogen and ammonia project at Ras Shoukair, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02ZQZTrxZ5tR21w22jXtHbL98XdaU1r9sM9ppwhA7Mub1NGwZq1StusTzHAmzvVMtil\" style=\"\" rel=\"noopener\">statement<\/a>. The EUR 2 bn first phase of the project aims to produce 1 mn tons of green ammonia annually with the production earmarked to supply ships with green fuels and for exports.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- USD 4.3 bn green ammonia facility in Ain Sokhna:<\/strong> Abu Dhabi-headquartered <a target=\"_blank\" href=\"https:\/\/ociorenergy.com\/\" style=\"\" rel=\"noopener\">Ocior<\/a><a target=\"_blank\" href=\"https:\/\/ociorenergy.com\/\" style=\"\" rel=\"noopener\">Energy<\/a> has inked a USD 4.3 bn agreement with the SFE to develop a green ammonia plant at the Port of Ain Sokhna, according to a cabinet statement. The plant will primarily cater to European markets, addressing the growing demand for sustainable ammonia. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- Another USD<\/strong><strong> 3.5 bn green ammonia project at Ain Sokhna:<\/strong> A consortium of Taqa Arabia and France\u2019s <a target=\"_blank\" href=\"https:\/\/www.voltalia.com\/\" style=\"\" rel=\"noopener\">Voltalia<\/a> will build a USD 3.5 bn green ammonia project at Ain Sokhna, under another agreement inked with SFE.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#7- Inching closer to the Orascom-Scatec-Fertiglobe green hydrogen plant: <\/strong>The SFE inked a binding offtake agreement with Orascom Construction, Scatec, and Fertiglobe to produce 100 MW of green hydrogen from its Ain Sokhna plant, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0tBc2fBfq29jBNj4YyRr74n3NPa1y22Kp7gB8QRwQ9aZoca3wFBnenHZ8X8NqtBjDl\" style=\"\" rel=\"noopener\">statement<\/a>. The plant kicked off a trial phase in November 2022 and aims to produce some 13k tons of green hydrogen a year, which will be used to create green ammonia at Fertiglobe\u2019s ammonia plants. Solar and wind power plants, with a combined capacity of 270 MW, will be set up to power the plant. Fertiglobe will buy the plant\u2019s production of green ammonia for the coming 20 years \u2014 marking the world\u2019s first long-term green ammonia purchase agreement, SFE boss Ayman Soliman said. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#8- Green ammonia production in Damietta: <\/strong>The Egyptian Petrochemical Holding Company, and Misr Fertilizer Production Company (Mopco), along with Norwegian firms Scatec and <a target=\"_blank\" href=\"https:\/\/www.yara.com\/yara-clean-ammonia\/\" style=\"\" rel=\"noopener\">Yara International<\/a>, will produce green ammonia in Damietta with initial investments of around USD 890 mn, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02jPNej6ecFEL9QzfuiRk1HJVD9RcPNFCUgEdm2wurS4zVCAHGpTArg9GJ94JP7ZE1l\" style=\"\" rel=\"noopener\">statement<\/a>. A seawater desalination plant and a maritime terminal will be set up to export the production from the Damietta port, with operations expected to begin in 2027. The parties will produce around 150k tons of green ammonia annually in Mopco\u2019s factories before selling it to Norway\u2019s Yara. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#9- And on the solar energy front:<\/strong> Danish wind turbine manufacturing giant <a target=\"_blank\" href=\"https:\/\/www.vestas.com\/en\" style=\"\" rel=\"noopener\">Vestas<\/a> wants to set up a USD 600 mn production facility in Egypt to manufacture wind turbines, according to a Trade Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/966713548832399?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a>. The green energy company will soon start preparing a feasibility study for the project and begin looking for sources of funding.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Vestas is no stranger to Egypt\u2019s renewables sector:<\/strong> The Danish company spearheaded a consortium that signed a EGP 4.3 bn agreement with the NREA back <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0b82dcb9-9d57-4606-922d-b94fcc35f8e8\/\" style=\"\" rel=\"noopener\">in 2020<\/a> to construct a 250 MW wind farm in the Gulf of Suez, which began a trial operation <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f89eedb2-5865-4528-8943-29e72f2902f6\/\" style=\"\" rel=\"noopener\">last November<\/a>. <\/p>\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Araby Group to invest USD 500 mn in Quesna complex: <\/strong>El Araby Group will invest USD 500 mn in an industrial complex in Menoufia\u2019s Quesna in partnership with Taiwanese company Rechi, Japan\u2019s Sharp, and another Japanese company, CEO Mohamed El Araby told <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1807056676349972665\" style=\"\" rel=\"noopener\">Asharq Business<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s been in the works for some time now: <\/strong>We\u2019ve first heard of El Araby\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ec19679e-3076-42fb-9a34-718c1d4fafe4\/of-poles,%253cmark%253e-elaraby%253c%2Fmark%253e-and-property-taxes%25e2%2580%25a6\" style=\"\" rel=\"noopener\">plans to set<\/a> up its second industrial complex for household appliances in Quesna back in 2021. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND-<\/strong> <strong>El Araby partners with Germany\u2019s Heller: <\/strong>El Araby Group inked an MoU with German home appliance manufacturer Heller signed an MoU to manufacture its products using local components, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/100064812882317\/posts\/965883542248733\/?mibextid=WC7FNe&amp;rdid=z9kuoFxAVBmkmeeT\" style=\"\" rel=\"noopener\">statement<\/a>. El Araby will start manufacturing the components needed for Heller products during 4Q 2024 with investments of EUR 70 mn over the first three years of manufacturing. <\/p>\n<p class=\"tag-border-left\">WATER-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>German firm wants to manage our drinking water plants: <\/strong>German water utility firm Bamag submitted a proposal to manage and operate a number of drinking water plants in Egypt via a private-public partnership, a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02CqL7uNgQgXtoEAMUUzAaVUBnjkqbQn2HmRczkeNdamMDbqPp6eS1RPwkyRgfdp4Sl\" style=\"\" rel=\"noopener\">statement<\/a> said. <\/p>\n<p class=\"tag-border-left\">COMMUNICATIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WE-4iG joint venture for high-speed fiber networks:<\/strong> Telecom Egypt (WE) inked a MoU with Hungarian telecom company <a target=\"_blank\" href=\"https:\/\/www.4ig.hu\/home\" style=\"\" rel=\"noopener\">4iG Group<\/a> to develop and operate a joint venture for building and managing fiber-to-the-home (FTTH) and fiber-to-the-tower (FTTT) networks, with a total investments of at least USD 600 mn, a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/966676535502767?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a> said. The JV aims to create a state-of-the-art, high-speed fiber network reaching around 6 mn residential and commercial units in Egypt, with a focus on expanding and modernizing Egypt\u2019s non-active fiber infrastructure to enhance the country\u2019s digital connectivity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The international press also covered the conference:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/european-companies-signing-more-than-42-bln-worth-deals-egypt-von-der-leyen-says-2024-06-29\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/egypt-eu-economy-bailout-76a55c9ead9463faf295072b3285ca37\" style=\"\" rel=\"noopener\">Associated Press<\/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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bp\/\">BP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/deme\/\">Deme<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/east-port-said\/\">East Port Said<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elaraby-group\/\">Elaraby Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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   \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Development finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/fresh-funds-from-the-eu-eib-germany-ebrd\/\">\r\n                            Egypt is in line for fresh funds from the EU, EIB, Germany, EBRD                        <\/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=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"626364\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/fresh-funds-from-the-eu-eib-germany-ebrd\/1902-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1902.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1902.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1902.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1902.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626363\" class=\"content-area-description single-story post-626363 post type-post status-publish format-standard has-post-thumbnail hentry category-development-finance tag-cib tag-development-finance tag-ebrd tag-enterpriseam tag-eu tag-european-investment-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.68e58d2d-2909-45b5-9ac2-973c0fd3b741.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>We\u2019re getting EUR 1 bn from the EU before the end of the year: <\/strong>Egypt and the EU inked an agreement that will disperse EUR 1 bn in macro-financial assistance during the second half of 2024 \u2014 the first of two packages of concessional loans that will total some EUR 5 bn \u2014 the International Cooperation Ministry said in a <a target=\"_blank\" href=\"https:\/\/moic.gov.eg\/news\/1542\" style=\"\" rel=\"noopener\">statement<\/a>. The first tranche will be delivered in the form of soft-financing with long repayment terms and low interest, the statement said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The total EUR 5 bn in concessional loans stems from a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/183954ef-4dc7-49c8-9499-743e77de1e74\/eu-pledges-eur-7.4-bn-aid-package-for-egypt\" style=\"\" rel=\"noopener\">wider EUR 7.4 bn<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/183954ef-4dc7-49c8-9499-743e77de1e74\/eu-pledges-eur-7.4-bn-aid-package-for-egypt\" style=\"\" rel=\"noopener\">package<\/a> of loans, grants, and investments through 2027 that was agreed to under a joint strategic and comprehensive partnership inked between the two sides back in March. In addition to the EUR 5 bn in macro-financial assistance, the EU pledged EUR 1.8 bn of \u201cadditional\u201d investments under the Southern Neighborhood Economic and Investment Plan and EUR 600 mn in grants, including EUR 200 mn for migration management.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What about the rest of the concessional loans? <\/strong>The remaining EUR 4 bn will be disbursed between 2025 and 2027, the statement said. The packages aim to <a target=\"_blank\" href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/ip_24_3481\" style=\"\" rel=\"noopener\">address Egypt\u2019s external financing needs<\/a> and \u201cunderpin the delivery of an ambitious policy program containing strong, immediate adjustment and structural reforms to help put Egypt's economy on a sustainable economic path.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cOne hundred days ago we opened a new era in the relations between Egypt and the European Union, with our strategic and comprehensive partnership. Today, we deliver. We deliver for Egyptian businesses and entrepreneurs with EUR 1 bn in macro-financial assistance, which will incentivise the reforms that businesses and entrepreneurs in the private sector need,\u201d EU Commission President Ursula von der Leyen said during her opening remarks to the conference. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We knew this was coming: <\/strong>Back in April, the European Council <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cd1dce8b-6bad-4d53-accb-576a5a47a933\/eu-approves-eur-1%253cmark%253e-bn%253c%2Fmark%253e-in-short-term-assistance-to-egypt\" style=\"\" rel=\"noopener\">approved<\/a> fast tracking the release of EUR 1 bn in short-term financial assistance as the first tranche of a wider EUR 5 bn package. The EU will deliver the short-term funds by applying an emergency funding mechanism that side-steps the EU Parliament\u2019s approval as well as an evaluation of the funding\u2019s effects. <\/p>\n<p class=\"tag-border-left\">THE EU ALSO UNVEILED EUR 300 MN IN GRANTS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re in line for nearly EUR 300 mn in grants: <\/strong>The EU signed four financing agreements with Egypt that will see it provide almost <strong>EUR 300 mn<\/strong> (EGP 15.4 bn) to support the development of the country\u2019s private sector, labor force, child protection systems, and medicine and vaccine manufacturing, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/100064812882317\/posts\/965789225591498\/?mibextid=WC7FNe&amp;rdid=tyRH4R58TMIHGeNr\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The majority of the funds will go towards the private sector: <\/strong>The EU will direct EUR 263 mn to Egypt\u2019s private sector, as part of the third phase of its <a target=\"_blank\" href=\"https:\/\/www.interregnextmed.eu\/discover-the-programme\/interreg-next-med-in-a-nutshell\/#:~:text=The%20cooperation%20area%2C%20home%20to,members%2C%20namely%20Algeria%20and%20T%C3%BCrkiye%20(\" style=\"\" rel=\"noopener\">Cross-Border Cooperation for Mediterranean Basin Countries<\/a> program. The funds will target private sector players operating in sustainable tourism, cultural heritage, digital transformation, agriculture, education and training, energy, and green construction as well as the blue and circular economy and creative industries, the statement said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What about the rest?<\/strong> Some <strong>EUR 25 mn<\/strong> will go towards providing <strong>young Egyptians with<\/strong> <strong>technical and vocational skills<\/strong> to help them find fair income jobs and boost entrepreneurship, while <strong>EUR 8 mn<\/strong> will be used to bolster Egypt\u2019s <strong>child protection systems<\/strong>, focusing on implementing child protection frameworks and combating child labor as well as ensuring children\u2019s access to education, healthcare, nutrition, and housing. The remaining <strong>EUR 3 mn<\/strong> will support the<strong> local manufacturing and development of vaccines and medicines<\/strong>.<\/p>\n<p class=\"tag-border-left\">EIB INKS EUR 621 MN WORTH OF AGREEMENTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The European Investment Bank also got out its checkbook: <\/strong>The European Investment Bank (EIB) and the EU have inked a EUR 271 mn agreement with the government to back the transition to a green economy, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/966803032156784?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a> from the International Cooperation Ministry. The agreement will channel EUR 135 mn in soft financing from the EIB, with an additional EUR 30 mn grant from the EU administered by the EIB. The remaining funds will come from the French Development Agency and other financiers, the statement reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The how:<\/strong> The project aims to assist Egypt in transitioning to a green economy by reducing industrial pollution and carbon emissions. It will focus on key industrial zones across the country, addressing air, water, and soil pollution. It will also support the use of renewable energy, green hydrogen, and biogas, and enhance sustainable industrial practices through energy efficiency, resource management, and circular economy interventions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EIB also put its financial backing behind mid-cap companies in the region:<\/strong> The EIB has committed EUR 350 mn to support the <a target=\"_blank\" href=\"https:\/\/spe-capital.com\/\" style=\"\" rel=\"noopener\">SPE Capital-run<\/a> SPE PEF III \u2014 an private equity fund that focuses on mid-cap companies in Africa, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/966803032156784?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a> from the International Cooperation Ministry. The funds will be used to invest in high-growth sectors, such as healthcare, pharmaceuticals, education, manufacturing, financial services, logistics, and consumer goods, aiming to create over 10k jobs and bolster economic development in the region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sludge fund: <\/strong>A Housing Ministry project to study sludge management will also get a grant worth EUR 2 mn from the EIB under an agreement inked at the conference. <\/p>\n<p class=\"tag-border-left\">FUNDS FROM GERMANY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt to see EUR 104 mn from Germany:<\/strong> Germany will <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02ayrqtPWg1PkGgT9rR2vHmixhNLfbgCswj7Y3pL4erB9gFUvNqgBmoMmravqy3xJZl\" style=\"\" rel=\"noopener\">deliver financing worth EUR<\/a><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02ayrqtPWg1PkGgT9rR2vHmixhNLfbgCswj7Y3pL4erB9gFUvNqgBmoMmravqy3xJZl\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02ayrqtPWg1PkGgT9rR2vHmixhNLfbgCswj7Y3pL4erB9gFUvNqgBmoMmravqy3xJZl\" style=\"\" rel=\"noopener\">103.5 mn<\/a> (EGP 5.3 bn) to support three Egyptian development programs. <strong>Banque du Caire <\/strong>will receive <strong>EUR 65 mn <\/strong>in soft-financing for its fourth phase of on-lending to SMEs in addition to <strong>EUR 3 mn<\/strong>in supplementary grants. <strong>The Education Ministry <\/strong>will see <strong>EUR 20.5 mn <\/strong>in financial support for the third phase of its comprehensive technical education initiative and <strong>the Central Bank of Egypt <\/strong>will receive <strong>EUR 15 mn <\/strong>for the risk management mechanisms program.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Debt swap also on the menu: <\/strong>The two sides also discussed the latest phase of the Egyptian-German debt swap program worth some EUR 100 mn \u2014 the first EUR 50 mn tranche recently received parliamentary approval in Germany and the second tranche is currently under discussions between the two sides. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More from Germany soon: <\/strong>Joint Egyptian-German government negotiations will be held in Berlin in 4Q 2024 to discuss projects that will receive funding between 2024-2026, the statement added.<\/p>\n<p class=\"tag-border-left\">USD 60 MN FOR ON-LENDING FROM THE EBRD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CIB secures EBRD funding: <\/strong>The European Bank for Reconstruction and Development (EBRD) will provide CIB with USD 60 mn for on-lending to local women-led businesses and green investments, the lender said on its <a target=\"_blank\" href=\"https:\/\/www.ebrd.com\/news\/2024\/ebrd-eu-and-gcf-boost-green-and-inclusive-financing-for-egyptian-msmes-.html#:~:text=The%20European%20Bank%20for%20Reconstruction,women%2Dled%20businesses%20in%20Egypt.\" style=\"\" rel=\"noopener\">website<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown: <\/strong>Some USD 50 mn will fund investments in climate change mitigation and adaptation, namely businesses operating in \u201cagribusiness, manufacturing and services, logistics and distribution, and information and communications technology.\u201d The rest of the funding will target women-led businesses, with a focus on those with less than 250 employees and deriving annual revenues of less than EUR 50 mn.<\/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\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/european-investment-bank\/\">European Investment Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"626365\" 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=\"626365\">\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\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/net-foreign-assets-record-their-first-surplus-in-over-two-years\/\">\r\n                            Egypt\u2019s net foreign assets record their first surplus in over two years            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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/4.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"4.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/4.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/4.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626365\" class=\"content-area-description single-story post-626365 post type-post status-publish format-standard has-post-thumbnail hentry category-banking tag-banking tag-central-bank-of-egypt tag-enterpriseam tag-foreign-exchange wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.3b10ab71-317a-4dc5-9bb5-07490ef71d8a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt\u2019s net foreign assets recorded their first surplus in over two years<\/strong>, as the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4461a6ec-f67a-45d9-b396-b6b1f6533a35\/second-usd-20-bn-tranche-of%253cmark%253e-ras-el-hekma%253c%2Fmark%253e-funds-land-in-state-coffers\" style=\"\" rel=\"noopener\">second and<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4461a6ec-f67a-45d9-b396-b6b1f6533a35\/second-usd-20-bn-tranche-of%253cmark%253e-ras-el-hekma%253c%2Fmark%253e-funds-land-in-state-coffers\" style=\"\" rel=\"noopener\">final tranche<\/a> of the USD 35 bn Ras El Hekma agreement brought in some USD 14 bn of fresh inflows \u2014 USD 6 bn of which the central bank poured into the nation\u2019s banking sector. Egypt recorded a net foreign asset surplus of just under USD 14.3 bn at the end of May, up from a deficit of USD 3.7 bn in April, according to Enterprise calculations based on <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1860.jpg\" style=\"\" rel=\"noopener\">Central Bank of Egypt figures<\/a>. <strong>This is the first time Egypt\u2019s net foreign assets have been in the green since February 2022<\/strong>, when the war in Ukraine triggered <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/158188ff-65a9-4146-adc1-5f53c1a3f6e5\" style=\"\" rel=\"noopener\">capital outflows<\/a> of almost USD 20 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The central bank\u2019s net foreign asset position once again drove the trend:<\/strong> The Central Bank of Egypt saw its net foreign assets record a surplus of USD 9.7 bn, up from a deficit of USD 763 mn in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea24f652-8aba-438a-a9e2-e0fc1ce09e91\/egypt%25e2%2580%2599s%253cmark%253e-net%253c%2Fmark%253e%253cmark%253e-foreign%253c%2Fmark%253e-asset-deficit-continues-to-narrow-in-april-for-third-consecutive-month\" style=\"\" rel=\"noopener\">April<\/a>. Foreign assets in the central bank rose USD 4.8 bn, while foreign liabilities were down by USD 5.6 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Commercial banks also left deficit territory: <\/strong>Commercial banks saw their net foreign assets record a surplus of USD 4.6 bn in May, from a deficit of USD 2.9 bn in April. Commercial banks saw their foreign assets rise by USD 6.9 bn, while foreign liabilities were down USD 625 mn during the same period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Data point: <\/strong>\u201cNet foreign assets of Egypt\u2019s banking system have improved by a staggering USD 43 bn since January. International support likely played a role, especially the USD 35-bn mega investment from the UAE. But the scale also suggests portfolio inflows are back,\u201d Bloomberg Chief Emerging-Markets Economist <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-27\/egypt-bank-foreign-buffers-swing-to-surplus-in-first-since-2022?embedded-checkout=true\" style=\"\" rel=\"noopener\">Ziad Daoud said<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Egypt\u2019s net foreign liabilities hit an all-time high back in January, recording <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/428b4720-c846-42b6-8058-e26c9aaff040\/net-foreign-liabilities-hit-record-high-in-january-for-second-consecutive-month\" style=\"\" rel=\"noopener\">USD<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/428b4720-c846-42b6-8058-e26c9aaff040\/net-foreign-liabilities-hit-record-high-in-january-for-second-consecutive-month\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/428b4720-c846-42b6-8058-e26c9aaff040\/net-foreign-liabilities-hit-record-high-in-january-for-second-consecutive-month\" style=\"\" rel=\"noopener\">29.0 bn<\/a>, before starting to gradually drop in the months that followed following the Ras El Hekma agreement, float of the EGP, and the flood of inflows that followed. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"626367 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=\"626367\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/626367\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626367\" class=\"content-area-description single-story post-626367 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:\/\/aimsinternational.com\/en\/company\/aims-egypt\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1843.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"626368\" 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=\"626368\">\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\">Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/egypt-receives-eur-57-mn-grant-to-boost-its-silo-capacity\/\">\r\n                            Egypt receives EUR 57 mn grant to boost its silo capacity                        <\/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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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/10.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"626369\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/egypt-receives-eur-57-mn-grant-to-boost-its-silo-capacity\/10-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/10.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"10.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/10.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/10.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626368\" class=\"content-area-description single-story post-626368 post type-post status-publish format-standard has-post-thumbnail hentry category-commodities tag-commodities tag-development-finance tag-enterpriseam tag-french-development-agency tag-sugar tag-wheat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.828bc3b1-431f-40a2-b023-ae2febdd0318.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt secures fresh funds to expand <\/strong><strong>silo capacity: <\/strong>The French Development Agency (AFD) will provide us with a EUR 56.7 mn grant to help expand the country\u2019s field silo capacity, Supply Minister Ali El Moselhy said on the sidelines of the Egypt-EU Investment Conference, which was confirmed by a later International Cooperation Ministry statement. MPs gave <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7e898bc6-7f2c-405b-9ced-30629d53c1cc\/more-funds-to-help-us-expand-our%253cmark%253e-silo%253c%2Fmark%253e-capacity\" style=\"\" rel=\"noopener\">final approval<\/a> to the grant in late January.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The grant will help the state build over 20 new field silos over the coming 12-14 months, targeting governorates known for their high wheat production like Minya, Sharqia, and Dakahlia, El Moselhy added. The expanded capacity will help the state cut down on waste and increase the efficiency of local wheat trade. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The Supply Ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/071aec1d-f26b-4a72-9c25-e3a460f679da\/the-supply-ministry-wants-less-imported%253cmark%253e-wheat%253c%2Fmark%253e-and-more-local%253cmark%253e-wheat%253c%2Fmark%253e.-plus:-news-from-hsbc-and-mountain-view\" style=\"\" rel=\"noopener\">slashed its wheat import targets<\/a> for 2024 in June as it works to increase its purchases of local wheat. The ministry wants to procure around 3.7 mn tons of local wheat, up from an initial target of 3.5 mn tons, and is aiming to import some 5 mn tons of wheat, down from its initial target of 6 mn tons.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Sugar on the EMX and wheat set to return? <\/strong>The Egyptian Mercantile Exchange (EMX) could begin offering wheat and sugar before the end of the year, El Moselhy added. The Supply Ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e6e62961-a42a-423a-aae2-b9243afab25b\/hedging-is-off-the-table-for-wheat-contracts---el-moselhi\" style=\"\" rel=\"noopener\">temporarily halted wheat trading<\/a> on the EMX in January \u201cdue to crazed price speculations and bids by some traders,\u201d with plans to return the commodity once these issues had settled.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Sugar export ban extended once again:<\/strong> The government has extended its ban on sugar exports for another three months starting today, El Moselhy added. The ban, which will run through September 2024, exempts surplus quantities beyond local market needs and will be the third extension since <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a48ac77-0c93-4364-bc1f-c6abf5bea2ed\/the-future-of-the-madbouly-cabinet-in-question-%2B-election-results-are-out-tomorrow\" style=\"\" rel=\"noopener\">December<\/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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/french-development-agency\/\">French Development Agency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sugar\/\">Sugar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/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=\"626370\" 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=\"626370\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/efg-corp-solutions-issues-egp-433-mn-worth-of-short-term-notes\/\">\r\n                            EFG Corp-Solutions issues EGP 433 mn-worth of short-term notes                        <\/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\/07\/01\/efg-corp-solutions-issues-egp-433-mn-worth-of-short-term-notes\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The statement didn\u2019t disclose how the funds will be used.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investors lined up: <\/strong>The issuance \u201cattracted a diverse range of investors, including asset managers, insurance companies, and a corporate client,\u201d the statement read. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> EFG Hermes acted as the sole financial advisor, lead arranger, transaction manager, bookrunner, and underwriter. KPMG acted as auditor and Dreny &amp; Partners was legal counsel, <a target=\"_blank\" href=\"https:\/\/www.almasdar.com\/143334\" style=\"\" rel=\"noopener\">Al Masdar<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EFG Hermes has been keeping busy: <\/strong>The issuance comes hot on the heels of EFG Hermes <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/511c2fd1-61c3-45ec-bbbe-ab40d3e8f8b2\/efg-hermes-issues-egp-600-mn-of-short-term-debt-to-its-hermes-securities-brokerage-subsidiary\" style=\"\" rel=\"noopener\">issuing EGP 600 mn<\/a> of debt in April to its subsidiary Hermes Securities Brokerage in the form of a senior unsecured short-term note. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cThis successful issuance not only marks a significant milestone for EFG Corp-Solutions but also showcases the remarkable cross-selling synergies within EFG Holding,\u201d said EFG Hermes Co-Head of Investment Banking Maged El Ayouti. <\/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\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-corp-solutions\/\">EFG Corp-Solutions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-holding\/\">EFG Holding<\/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=\"626372 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=\"626372\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/626372\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626372\" class=\"content-area-description single-story post-626372 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/186.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"626373\" 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=\"626373\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/wastewater-plants-schools-and-electricity-projects-to-soon-be-offered-up-for-the-private-sector-plus-sidpec-integrated-diagnostics-holdings-elsewedy-electric-infinity\/\">\r\n                            Wastewater plants, schools, and electricity projects to soon be offered up for the private sector. PLUS: Sidpec, Integrated Diagnostics Holdings, Elsewedy Electric, Infinity                        <\/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\/07\/01\/wastewater-plants-schools-and-electricity-projects-to-soon-be-offered-up-for-the-private-sector-plus-sidpec-integrated-diagnostics-holdings-elsewedy-electric-infinity\/\" 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\/07\/01\/wastewater-plants-schools-and-electricity-projects-to-soon-be-offered-up-for-the-private-sector-plus-sidpec-integrated-diagnostics-holdings-elsewedy-electric-infinity\/')\">\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\/07\/01\/wastewater-plants-schools-and-electricity-projects-to-soon-be-offered-up-for-the-private-sector-plus-sidpec-integrated-diagnostics-holdings-elsewedy-electric-infinity\/\">\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=Wastewater plants, schools, and electricity projects to soon be offered up for the private sector. PLUS: Sidpec, Integrated Diagnostics Holdings, Elsewedy Electric, Infinity&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/wastewater-plants-schools-and-electricity-projects-to-soon-be-offered-up-for-the-private-sector-plus-sidpec-integrated-diagnostics-holdings-elsewedy-electric-infinity\/\">\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\/07\/01\/wastewater-plants-schools-and-electricity-projects-to-soon-be-offered-up-for-the-private-sector-plus-sidpec-integrated-diagnostics-holdings-elsewedy-electric-infinity\/&title=Wastewater plants, schools, and electricity projects to soon be offered up for the private sector. PLUS: Sidpec, Integrated Diagnostics Holdings, Elsewedy Electric, Infinity\">\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=Wastewater+plants%2C+schools%2C+and+electricity+projects+to+soon+be+offered+up+for+the+private+sector.+PLUS%3A+Sidpec%2C+Integrated+Diagnostics+Holdings%2C+Elsewedy+Electric%2C+Infinity+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F07%2F01%2Fwastewater-plants-schools-and-electricity-projects-to-soon-be-offered-up-for-the-private-sector-plus-sidpec-integrated-diagnostics-holdings-elsewedy-electric-infinity%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\/07\/01\/wastewater-plants-schools-and-electricity-projects-to-soon-be-offered-up-for-the-private-sector-plus-sidpec-integrated-diagnostics-holdings-elsewedy-electric-infinity\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/31.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"626374\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/wastewater-plants-schools-and-electricity-projects-to-soon-be-offered-up-for-the-private-sector-plus-sidpec-integrated-diagnostics-holdings-elsewedy-electric-infinity\/31-jpg-25\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/31.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"31.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/31.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/31.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626373\" class=\"content-area-description single-story post-626373 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-capital-markets tag-elsewedy-electric tag-enterpriseam tag-evs tag-fertilizers tag-infinity tag-integrated-diagnostics-holding tag-sidi-kerir-petrochemicals wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.827018e1-33bb-4234-b193-c5535dd7b245.mp3\"><\/audio><\/figure>\n<p class=\"tag-border-left\">PRIVATIZATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Wastewater plants, schools, and electricity projects to soon be offered up for the<\/strong><strong> private sector:<\/strong> The government is preparing to hand over four industrial wastewater plants to the private sector within 3 to 4 months, Ater Hannoura, head of the Finance Ministry\u2019s Private Partnership Unit, told Enterprise. It also intends to offer 26 schools to the private sector in the next two months as part of the second phase of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/88680892-1c4e-4d3f-a7ae-9d71b021416e\/tight-macro-conditions-are-pushing-private-education-players-to-look-more-closely-at%253cmark%253e-ppp%253c%2Fmark%253e-%2B-alternative-financing-options\" style=\"\" rel=\"noopener\">private-public partnership schools program<\/a> \u2014 that\u2019s two more schools than what was announced <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f3cfd5d7-a440-4aeb-8299-c5cba9e17abc\/bajaj%25e2%2580%2599s-qute-microcar-to-be-manufactured-by-gb-auto,-military-production-ministry.-plus:-ppp-education-platform-returns%3F-fabmisr-%2B-cayesh,-premium-diagnositcs-uae-%2B-city-lab,-fawry,-sfe-%2B-b-investments\" style=\"\" rel=\"noopener\">in June<\/a>. Four electricity transformers projects will also be offered up to the private sector, Hannoura added, without specifying when.<\/p>\n<p class=\"tag-border-left\">INDUSTRY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sidpec restarts fertilizer production: <\/strong>Sidi Kerir Petrochemicals (Sidpec) started receiving feed gasses and gradually resumed operations in its factories on Thursday, the company said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1806.pdf\" style=\"\" rel=\"noopener\">an EGX disclosure (pdf)<\/a>. The nation\u2019s power crisis has forced major petrochemicals and fertilizers to halt operations completely over the past few days. Sidpec, Abu Qir Fertilizers, Mopco, and Kima have cited the lack of feed gasses as a reason to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/32fbe8ad-e741-4025-b286-1d61f14a199f\/gama-construction-to-join-four-state-owned-egyptian-firms-to-launch-usd-600-mn-ethane-gas-import-company\" style=\"\" rel=\"noopener\">power down their factories<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The first of many? <\/strong>While the remaining fertilizer producers are yet to announce they have resumed operations, we believe that Sidpec is the first of many to once again kick off operations following the halt. <\/p>\n<p class=\"tag-border-left\">CAPITAL MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IDH shar<\/strong><strong>eholders could get more for delisted shares: <\/strong>Integrated Diagnostics Holdings (IDH) will soon up its delisting buyback price to EGP 20 per share from EGP 18.62, after the EGX deemed the initial price tag too low, saying that it \u201cdid not in fact properly take account of certain aspects of the applicable regulations given the low trading volumes in the company's shares,\u201d the consumer healthcare giant said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1907.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The new price tag will be discussed during an extraordinary general meeting, the date of which is yet to be announced.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher:<\/strong> IDH <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b9bd295c-3bc4-43c9-94d3-e7227139980a\/idh-looks-to-delist-from-the-egyptian-stock-exchange\" style=\"\" rel=\"noopener\">decided to delist<\/a> its shares from the EGX due to \u201climited trading activity\u201d and the \u201cabsence of any investment potential in maintaining the listing on the secondary market.\u201d . The decision was approved by IDH shareholder\u2019s during an extraordinary general meeting at the beginning of June.<\/p>\n<p class=\"tag-border-left\">M&amp;A- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have a valuation of Elsewedy Electric: <\/strong>Independent financial advisor BDO Key Financial Consulting\u2019s assessment peg Elsewedy Electric\u2019s valuation at EGP 112.1 bn \u2014 at EGP 52.38 per share \u2014 following Abu Dhabi-based electrical equipment manufacturer Electra Investment Holding\u2019s bid to acquire a 24.5% stake in Elsewedy Electric, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1872.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Electra has been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/addb64ff-46a6-4f10-a714-f307587309b9\/mps-vote-on-state-budget-today\" style=\"\" rel=\"noopener\">purchasing<\/a> shares in Elsewedy Electric at USD 1.05 per share in a bid to acquire up to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a5eebed8-d7b1-4f48-ba71-51575a76f4b0\/uae%25e2%2580%2599s-electra-eyes-up-to-24.5%2525-of-elsewedy-electric\" style=\"\" rel=\"noopener\">24.5% stake<\/a> after receiving the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ed962542-5edd-4937-aaad-f41e4aac62ae\" style=\"\" rel=\"noopener\">regulatory greenlight<\/a>. It will continue to purchase shares from shareholders until 9 July.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Elsewedy to set up copper factory in Saudi Arabia:<\/strong> Elsewedy Electric is setting up a copper factory in Saudi Arabia that will go live in six month\u2019s time, CEO Ahmed Elsewedy told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/06\/30\/-%D8%A7%D9%84%D8%B3%D9%88%D9%8A%D8%AF%D9%8A-%D9%84%D9%80-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-business-%D8%A7%D9%86%D8%B4%D8%A7%D8%A1-%D9%85%D8%B5%D9%86%D8%B9%D9%8A%D9%86-%D9%84%D9%84%D9%86%D8%AD%D8%A7%D8%B3-%D9%88%D8%A7%D9%84%D8%A3%D9%84%D9%88%D9%85%D9%86%D9%8A%D9%88%D9%85-%D9%81%D9%8A-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9\" style=\"\" rel=\"noopener\">Al Arabiya Business<\/a>. The company also recently inaugurated an aluminum factory in the kingdom, he added. <\/p>\n<p class=\"tag-border-left\">EVS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More EV charging stations incoming: <\/strong>Our friends at the renewables firm Infinity want to set up 350 new EV charging stations by the end of the year, CEO Mohamed Mansour told <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1807086740915556863\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. This will bring Infinity\u2019s total number of charging points to 1k, which will serve around 10k EVs.<\/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\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elsewedy-electric\/\">Elsewedy Electric<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/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\/infinity\/\">Infinity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/integrated-diagnostics-holding\/\">Integrated Diagnostics Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sidi-kerir-petrochemicals\/\">Sidi Kerir Petrochemicals<\/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=\"626375\" 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=\"626375\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/bis-warns-against-slashing-interest-rates-too-soon\/\">\r\n                            BIS warns against slashing interest rates too soon                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div 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   \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/bis-warns-against-slashing-interest-rates-too-soon\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1912.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"626376\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/bis-warns-against-slashing-interest-rates-too-soon\/1912-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1912.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1912.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1912.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1912.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626375\" class=\"content-area-description single-story post-626375 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-interest-rates 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\/7\/.61061a49-863b-4aae-a52d-d8469e39ac68.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Go slow and steady with rate cuts, says the BIS:<\/strong> The Bank for International Settlements (BIS) warned central banks in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/25.pdf\" style=\"\" rel=\"noopener\">annual report (pdf)<\/a> against cutting interest rates too soon, cautioning that it could reignite inflation. Despite signs that the global economy is headed towards \u201csmooth landing\u201d with cooling inflation and steady growth, the BIS says central banks need to set a \u201chigh bar\u201d for easing policies.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: Central banks around the world are preparing to ease monetary tightening policies this year. <\/strong>The European Central Bank got the ball rolling with a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e8b81fc7-fbac-4932-859e-d91466bc6604\/today%25e2%2580%2599s-rate-cuts-could-revive-the-eu%25e2%2580%2599s-economy,-but-the-path-forward-is-murky\" style=\"\" rel=\"noopener\">25 bps rate cut<\/a> last month, ahead of the US Federal Reserve, which is set to start cutting rates by September. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cA premature easing could reignite inflationary pressures and force a costly policy reversal<\/strong> \u2014 all the costlier because credibility would be undermined,\u201d BIS General Manager Agust\u00edn Carstens said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Central banks should keep an eye on potential risks like high public debt and falling commercial property values<\/strong>, as well as inflation spikes in service prices and wages, Carstens said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Service prices relative to core goods remain lower than pre-pandemic levels<\/strong>, while real wages have yet to keep up with higher costs \u2014 but a reversion of these trends that happens too fast will only spur inflation. <strong>The BIS estimates that catching up on lost purchasing power could raise inflation by up to 1.5% in major Eurozone economies by 2026. <\/strong><\/p><p class=\"tag-border-left\">MARKETS THIS MORNING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mixed this morning<\/strong>, with the Nikkei and Kospi in the green and the ASX 200 and Shanghai Composite in the red. Markets are closed in Hong Kong this morning for a national holiday. Futures suggest US equities will start the trading week in the green, as will most major European benchmarks. <strong>The exception: France<\/strong>, where the CAC 40 looks set to come under selling pressure at the opening bell as investors digest the far-right Rassemblement National\u2019s strong showing in the first phase of parliamentary elections.<\/p><p><a target=\"_blank\" id=\"t.eda1e86a5cc51b72d25b85a80ffefba37cf99d67\" 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\">27,766<\/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\">+1.0% (YTD: +11.5%)<\/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 47.96<\/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 48.10<\/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>USD (CIB)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 47.98<\/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\">11,680<\/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: -2.4%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,061<\/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: -3.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,030<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +4.4%)<\/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>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\">5,460<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +14.5%)<\/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>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\">8,164<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +5.6%)<\/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>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\">4,894<\/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: +8.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 85.0<\/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 2.60<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-3.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,340<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 61,984.40<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.6% (YTD: +46.8%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 1.0% at Thursday\u2019s close<\/strong> on turnover of EGP 4.4 bn (0.2% above the 90-day average). International investors were the sole net sellers. The index is up 11.5% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Fawry (+5.9%), Eipico (+5.1%), and EFG Holding (+4.6%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Beltone Holding (-3.3%), Oriental Weavers (-2.3%), and Palm Hills Development (-2.3%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"626377\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">9<\/div>\r\n\r\n                        <p class=\"f-graphik\">BLACKBOARD<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/private-intl-schools-demand-flexibility-on-tuition-fee-hikes-to-cope-with-financial-headwinds\/\">\r\n                            Private, int\u2019l schools demand flexibility on tuition fee hikes to cope with financial headwinds<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/private-intl-schools-demand-flexibility-on-tuition-fee-hikes-to-cope-with-financial-headwinds\/\" 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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While some players seek an extension of last year's tiered system of caps on annual hikes of tuition fees, others are advocating for steeper hikes. We spoke with a number of education sector veterans to find out what their demands are, what other challenges they are facing, and how the government can help out.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The Education Ministry in September 2023 introduced a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2de40628-d658-4201-8dcb-37aaf20fc6f0\/\" style=\"\" rel=\"noopener\">tiered system of caps on<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2de40628-d658-4201-8dcb-37aaf20fc6f0\/\" style=\"\" rel=\"noopener\">tuition fee increases at private schools<\/a>, with higher-priced schools facing tighter limits. Schools charging EGP 35k and above were limited to a 6% increase for the current academic year, while schools that charged smaller fees were allowed to increase fees at a greater level all the way to 25% for schools charging less than EGP 25k. For high-end int\u2019l schools, fee increases for schools charging EGP 200k or more were <a target=\"_blank\" href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2983819\" style=\"\" rel=\"noopener\">capped at 5%<\/a>, while schools charging less could increase fees by up to 10% depending on how much they charged.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The caveat: <\/strong>Schools that fall outside of the ministry\u2019s purview \u2014 among them institutions owned by associations and other bodies, such as CAC, MBIS, and BISC \u2014 were not impacted by the caps.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some schools are calling for the caps to be eased:<\/strong> While some private school owners believe that reinstating last year\u2019s maximum allowable increase would be sufficient, others have taken a more hawkish stance. British International College of Cairo CEO Ahmed Samir believes that an increase of no less than 40% is needed \u2014 even if that means implementing a one-off hike limited to the upcoming academic year to mitigate current financial headwinds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where the requests stand:<\/strong> The Education Ministry is currently deliberating on tuition fees for the next academic year and is expected to issue a decision following the Thanaweya Amma exams \u2014 which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/da0e9c10-40a9-4aa2-ab56-747354e3907d\/\" style=\"\" rel=\"noopener\">run until 20 July<\/a> \u2014 a government source told Enterprise. The ministry maintains an open dialogue with private school owners, both to consider their requests and to ensure decisions ultimately safeguard parents from excessive fee hikes, the source added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The likely outcome? <\/strong>The source expects the government to reinstate the tiered system of tuition fee hike caps for the next academic year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Schools are stuck between a rock and a hard place: <\/strong>Many private schools are now either being offered for sale or face the threat of shutting down amid soaring inflation and a weakening EGP, which have seen the cost of wages, materials, and maintenance rise significantly, Private School Owners Association Deputy Chairman Badawy Allam told Enterprise. These financial strains are compounded by schools\u2019 inability to hike tuition fees as they await the ministry\u2019s decision. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A precarious situation:<\/strong> A key concern is schools ramping up the costs of extracurricular activities, uniforms, or other expenses to bypass fee regulations, said Magda Nasr, a former member of the House of Representatives\u2019 Education Committee. The road ahead demands a measured approach that strikes a balance between the quality of education and parents\u2019 financial limitations, she explained, adding that an open dialogue between the ministry, schools, and parents is needed.<\/p>\n<p class=\"tag-border-left\"> PULSE CHECK ON THE PRIVATE ED SECTOR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Private schools make up a small slice of the pie:<\/strong> Private schools constitute 15-20% of the schools in the country, Allam said, adding that this participation rate is unsatisfactory considering Egypt\u2019s high population density. By contrast, in neighboring countries like Jordan, private schools make up 70% of schools.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There is a large gap between supply and demand<\/strong> at the K-12 level, Nasr said, explaining that the country needs more private schools to accommodate the educational needs of its growing population without compromising quality.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Incentives are needed: <\/strong>To encourage private investment in the education sector, the government can offer pre-equipped land for schools across governorates with flexible payment options, Allam suggested. Launching a comprehensive incentive program would reignite interest in the sector, he said, pointing to a decline in new school memberships within the association in the past two years.<\/p>\n<p class=\"tag-border-left\"> HEADWINDS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Building requirements are stringent: <\/strong>Building requirements issued by the <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/general-authority-for-educational-buildings-gaeb\/\" style=\"\" rel=\"noopener\">General Authority<\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/general-authority-for-educational-buildings-gaeb\/\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/general-authority-for-educational-buildings-gaeb\/\" style=\"\" rel=\"noopener\">for Educational Buildings<\/a> hinder the growth of private schools, Allam said. One such requirement is minimum land area, which stands at 1.25k sqm for private Arabic schools and 2.5k sqm for language schools. Additionally, classrooms must be at least 40 sqm and well-ventilated. Because the land available within residential areas is both limited and expensive, these restrictions force private players to build schools in distant locations or even desert areas. In Cairo, new schools are often built in the new administrative capital or in the city\u2019s north, where land is costly. Lowering the minimum area requirement could lead to a significant increase in the numbers of schools in urban areas, he suggested.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Land scarcity isn't just a private sector problem<\/strong>, a high-ranking government official told Enterprise. The second phase of the public-private partnership (PPP) education program is facing delays due to land shortages across governorates, the source said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The state will <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f3cfd5d7-a440-4aeb-8299-c5cba9e17abc\/\" style=\"\" rel=\"noopener\">offer 24 land plots<\/a> for private sector players to set up 24 schools within the coming weeks under the PPP education program, which was introduced back in 2016 to boost private sector involvement in the education sector. Under the framework, the government will provide private sector operators with land and licenses, while the operators will build and operate the schools.<\/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\/blackboard\/\">Blackboard<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education-ministry\/\">Education Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/public-private-partnership\/\">public-private partnership<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"626379\" 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\/07\/01\/626379\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-626379\" class=\"content-area-description single-story post-626379 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;\">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>4 July (Thursday)  S&P Global to publish Egypt\u2019s PMI figures for June.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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 July (Wednesday): CBE and Capmas to publish inflation data for June.<\/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>30 September (Monday): <\/span><span>Ban on sugar exports expiration.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-8 November (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/wuf.unhabitat.org\/\" style=\"\">World Urban Forum<\/a><\/span><span>, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypt-energy.com\/en\/home.html\" style=\"\">Egypt Energy Show<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>June 2024: Gov\u2019t expects to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/news\/story\/cfdc99d8-291f-4b7c-8af8-8e1cccc74de5\" style=\"\">finalize sale<\/a><\/span><span style=\"font-weight:400;\"> of Beni Suef combined-cycle power plant.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1H 2024: Gov\u2019t expects to finalize sale of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/317bf16c-ec16-489f-ac56-05ad40a04693\/another-usd-820-mn-coming-our-way-from-the-imf\" style=\"\">four water desalination plants<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2H 2024: Gov\u2019t to launch the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8f7fd9b9-a159-4b31-b974-f809d55f55d9\/egyptian-telecom-providers-suspend-e-wallet-fx-payments\" style=\"\">Cairo Ring Road BRT buses<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3Q 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid04Z7JWbGbYGqFTr8kF2XNgc5Dq2cUR3hn25JDryhDjLnPJkYgaKaqbwzQr6A4QgB2l\" style=\"\">Egyptian-Armenian Joint Committee.<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>November 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LLPJRjsu6SZLwtRHuLmCQxoAZB3xaXVXH8aYkMSEH3ae4aW6JCZaPe5h5u9nKmcRl\" style=\"\">Egypt to host<\/a><\/span><span style=\"font-weight:400;\"> the World Urban Forum (WUF12).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2024: The launch of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sis.gov.eg\/Story\/192175\/Trial-Operation-of-the-Sokhna-El-Alamein-Matrouh-High-Speed-Train-Starts-by-the-End-of-this-Year?lang=en-us\" style=\"\">high-speed train<\/a><\/span><span style=\"font-weight:400;\"> line linking Ain Sokhna with Al Alamein City. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2024: Shalateen Mining Company to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/74373364-7f95-4157-9090-67ee1584c341\/nuca-to-hand-out-plots-to-four-industrial-developers-within-days.-plus:-news-from-bluev,-tmg,-and-tabreed\" style=\"\">launch a gold exploration tender<\/a><\/span><span style=\"font-weight:400;\"> in the Eastern Desert.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2Q 2025: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad18b775-3e22-4e6b-b4fc-9dd30f4b85ad\/abu-dhabi-ports-to-build-and-run%253cmark%253e-safaga-terminal%253c%2Fmark%253e,-cruise-ship-infrastructure\" style=\"\">Safaga Terminal 2<\/a><\/span><span> to start operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20 January-7 February: Egypt to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f9a5a94-cc1c-4fc1-b8c6-7c02d15cae3b\/ramadan-kareem\" style=\"\">host the African Games<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2027: Trial operations at the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52aa0e65-5b6f-4c84-aa49-70ac4152bb87\" style=\"\">Dabaa nuclear power plant<\/a><\/span><span style=\"font-weight:400;\"> expected to take place.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Development funds a\u2019hoy | A net foreign asset surplus at last | Electricity bill hikes on hold | State IPO program back soon<\/p>\n","protected":false},"featured_media":626356,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-626355","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"75cbefa0-6094-445d-9ce9-b97865542336","teaser":"Development funds a\u2019hoy | A net foreign asset surplus at last | Electricity bill hikes on hold | State IPO program back soon","photo_url":"https:\/\/ent.news\/2024\/7\/33.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>Agreements and MoUs totalling EUR 67.7 bn inked at Egypt-EU Investment Conference - 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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