{"id":628303,"date":"2024-07-02T00:00:00","date_gmt":"2024-07-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=628303"},"modified":"2025-12-17T10:15:04","modified_gmt":"2025-12-17T10:15:04","slug":"energy-investments-continue-to-stack-up-following-egypt-eu-investment-conference","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/energy-investments-continue-to-stack-up-following-egypt-eu-investment-conference\/","title":{"rendered":"Energy investments continue to stack up following Egypt-EU Investment Conference"},"content":{"rendered":"<section id=\"628305\" 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=\"628305\">\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\/02\/egypt-eu-investment-conference-round-2\/\">\r\n                            Egypt-EU Investment Conference round #2                        <\/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\/02\/egypt-eu-investment-conference-round-2\/\" target=\"_blank\">\n                    Open in new tab     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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/egypt-eu-investment-conference-round-2\/1236-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1236.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1236.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1236.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1236.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-628305\" class=\"content-area-description single-story post-628305 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-eu 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\/11\/.f0f1e9f3-d4a2-4c15-ae2a-da69c8566885.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning<\/strong><strong>, friends.<\/strong> We were a little too busy with big-ticket announcements yesterday from the Egypt-EU Investment Conference to remember to wish you all a happy new fiscal year. The new fiscal year that kicked off yesterday may not be as exciting as the Gregorian or the Islamic new years, but for readers of Enterprise its a signal to pay close attention to local business and economic news as new state initiatives officially launch and much of the private sector begins to crank up a gear to start the year-long period on a strong footing.<\/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\u2019ve got energy project announcements galore and an unusually large amount of automotive news for you to get through this morning, plus so much more. We\u2019ve got a busy issue today, so let\u2019s jump right in. <\/p><p class=\"tag-border-left\">WATCH THIS SPACE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- Egypt-EU Investment Conference 2.0:<\/strong> Cairo is looking forward to the 2025 edition of the Egypt-EU Investment Conference, Prime Minister Moustafa Madbouly said during <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02AtWxLVKRMa9vYYruxJdSbsseUJWKqZ3L4EnWe7bsnkWKhVQMopDSSav5fGtDSLzbl\" style=\"\" rel=\"noopener\">remarks<\/a> closing out the conference on Sunday. The two-day conference, which wrapped up earlier this week, saw Egypt sign some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b44bf694-9410-4f47-beea-46b32a2a5f11\/\" style=\"\" rel=\"noopener\">EUR 67.7 bn worth of MoUs and agreements<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the meantime:<\/strong> \u201cOur primary focus in the coming period is to translate these signed agreements into actual projects on the ground,\u201d Madbouly said. \u201cGiven the successful launch of the conference, it is crucial to follow up on the agreements and the ideas and initiatives proposed, as well as the signed MoUs.\u201d<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- EU could help us unlock EUR 11 bn in foreign investment:<\/strong> The EUR 1.8 bn worth of\u00a0<span style=\"background-color: transparent;\">investment guarantees under the <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/183954ef-4dc7-49c8-9499-743e77de1e74\/\" rel=\"noopener\">EUR 7.4 bn financing package<\/a><span style=\"background-color: transparent;\"> from the bloc will be channeled through the European Fund for Sustainable Development and help attract EUR 11 bn in foreign investment across several sectors, according to a <\/span><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0kc2yjv9A1jipKmoBi1XdJUcthEzqyDi1c2QD3srMycT9oZKMSg4CrZwGkMVX8P2Fl\" rel=\"noopener\">statement<\/a><span style=\"background-color: transparent;\"> from the International Cooperation Ministry. The funding will target priority sectors including energy, food security, water, and climate action, and human capital.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound familiar? <\/strong>When this EUR 1.8 bn tranche was first announced in March after Egypt and the EU signed a joint strategic and comprehensive partnership, it wasn\u2019t completely clear how the funds would be used. A <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/1430.pdf\" style=\"\" rel=\"noopener\">release (pdf)<\/a> circulated to media outlets at the time described the funds as \u201cadditional investments under the Southern and Neighborhood Economic and Investment Plan,\u201d without providing further details.<\/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- We got our first LNG shipment for the season: <\/strong>The government has received the first of a number of anticipated LNG shipments at the Ain Sokhna port yesterday, <a target=\"_blank\" href=\"https:\/\/cnnbusinessarabic.com\/energy\/69131\/%D9%88%D8%B5%D9%88%D9%84-%D8%A3%D9%88%D9%84-%D8%B4%D8%AD%D9%86%D8%A9-%D8%BA%D8%A7%D8%B2-%D9%85%D8%B3%D8%A7%D9%84-%D8%A5%D9%84%D9%89-%D9%85%D8%B5%D8%B1-%D9%84%D8%AD%D9%84-%D8%A3%D8%B2%D9%85%D8%A9-%D8%A7%D9%86%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1\" style=\"\" rel=\"noopener\">CNN Business Arabic<\/a> reported, citing an unnamed government official. The 3.5 bn cubic feet of gas are now being prepared to be transported to the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/291997ca-453f-41e9-a363-a5ecb331befb\/%253cmark%253eh%25c3%25b6egh%253c%2Fmark%253e-lng%25e2%2580%2599s-floating-regasification-unit-set-to-dock-in-ain-sokhna-next-week\" style=\"\" rel=\"noopener\">floating LNG regasification unit<\/a> docked in Ain Sokhna, before commencing the gasification process and integrating it into the national gas network this week, the official added.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T<\/strong><strong>he first of many: <\/strong>Egypt <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/oil-and-gas\/2024\/06\/27\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B1%D8%B3%D9%8A-%D9%85%D9%86%D8%A7%D9%82%D8%B5%D8%A7%D8%AA-%D9%84%D9%80-20-%D8%B4%D8%AD%D9%86%D8%A9-%D8%BA%D8%A7%D8%B2-%D9%85%D8%B3%D8%A7%D9%84-%D9%84%D8%AA%D8%BA%D8%B7%D9%8A%D8%A9-%D8%A7%D9%84%D8%B7%D9%84%D8%A8-%D9%81%D9%8A-%D8%A7%D9%84%D8%B5%D9%8A%D9%81\" style=\"\" rel=\"noopener\">se<\/a><a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/oil-and-gas\/2024\/06\/27\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B1%D8%B3%D9%8A-%D9%85%D9%86%D8%A7%D9%82%D8%B5%D8%A7%D8%AA-%D9%84%D9%80-20-%D8%B4%D8%AD%D9%86%D8%A9-%D8%BA%D8%A7%D8%B2-%D9%85%D8%B3%D8%A7%D9%84-%D9%84%D8%AA%D8%BA%D8%B7%D9%8A%D8%A9-%D8%A7%D9%84%D8%B7%D9%84%D8%A8-%D9%81%D9%8A-%D8%A7%D9%84%D8%B5%D9%8A%D9%81\" style=\"\" rel=\"noopener\">cured 20 LNG shipm<\/a><a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/oil-and-gas\/2024\/06\/27\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B1%D8%B3%D9%8A-%D9%85%D9%86%D8%A7%D9%82%D8%B5%D8%A7%D8%AA-%D9%84%D9%80-20-%D8%B4%D8%AD%D9%86%D8%A9-%D8%BA%D8%A7%D8%B2-%D9%85%D8%B3%D8%A7%D9%84-%D9%84%D8%AA%D8%BA%D8%B7%D9%8A%D8%A9-%D8%A7%D9%84%D8%B7%D9%84%D8%A8-%D9%81%D9%8A-%D8%A7%D9%84%D8%B5%D9%8A%D9%81\" style=\"\" rel=\"noopener\">ents<\/a> last week as it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/454b221a-69a5-4435-864e-86f3fc55f90e\/government-pledges-to-end-power-cuts-by-third-week-of-july-with-usd-1.2-bn-set-aside-for%253cmark%253e-energy%253c%2Fmark%253e-imports-and-other-initiatives\" style=\"\" rel=\"noopener\">works to ensure<\/a> it has sufficient supplies to keep the lights on during the current period of increased demand expected to last till September. BP and an East Mediterranean Gas Company subsidiary will each supply five of the shipments, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/65233\/%D8%A8%D9%8A-%D8%A8%D9%8A-%D9%88%D8%A5%D9%8A%D9%85%D9%83%D8%B3-%D8%AA%D9%81%D9%88%D8%B2%D8%A7%D9%86-%D8%A8%D8%B9%D9%82%D9%88%D8%AF-%D8%AA%D9%88%D8%B1%D9%8A%D8%AF-10-%D8%B4%D8%AD%D9%86%D8%A7%D8%AA-%D8%BA%D8%A7%D8%B2-%D9%85%D8%B3%D8%A7%D9%84-%D9%84%D9%85%D8%B5%D8%B1\" style=\"\" rel=\"noopener\">Al Sharq Business<\/a> reported, citing two anonymous officials from the Oil Ministry.<\/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=\"wwtt3\"><\/a> <strong>#4- Al Ahly Sabbour has an IPO in the pipeline: <\/strong>Local real estate developer Al Ahly Sabbour is in talks with undisclosed advisors regarding its plans to go public on the EGX, chairman Ahmed Sabbour told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/companies\/2024\/06\/27\/%D8%A7%D9%84%D8%A3%D9%87%D9%84%D9%8A-%D8%B5%D8%A8%D9%88%D8%B1-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D8%B3%D8%AA%D8%B9%D8%AF-%D9%84%D9%84%D8%B7%D8%B1%D8%AD-%D9%81%D9%8A-%D8%A7%D9%84%D8%A8%D9%88%D8%B1%D8%B5%D8%A9-%D8%AE%D9%84%D8%A7%D9%84-9-%D8%A3%D8%B4%D9%87%D8%B1\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>, without providing further details. The company will officially announce its IPO once all preparations are in order and depending on market conditions, Sabbour said, adding that preparations are expected to wrap up within the next 6-9 months.<\/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>Blackouts officially back to two hours:<\/strong> The Electricity Ministry confirmed that the government has reverted to planned two-hour power outages as of yesterday, instead of three hours, according to a <a target=\"_blank\" href=\"https:\/\/eehc.gov.eg\/CMSEehc\/%D8%A7%D9%84%D8%A7%D8%AE%D8%A8%D8%A7%D8%B1\/%D8%A8%D9%8A%D8%A7%D9%86-%D9%87%D8%A7%D9%85\/\" style=\"\" rel=\"noopener\">statement<\/a> from the ministry. The two-hour planned outages will take place between 3pm to 7pm.<\/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>Higher processing fee<\/strong><strong>s on gold: <\/strong>Gold processing fees have increased by 10% yesterday with the start of a new fiscal year for a year-long period, according to a document seen by Enterprise. <\/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 a bright and sunny 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 over in Alexandria and along 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\">HAPPENING TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Act Financial is kicking off its IPO procedures today <\/strong>in an event held alongside IPO manager Zilla Capital.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The company is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b9540e6d-8c1a-453f-9a7d-8ca7f28e78b3\/everything-you-need-to-know-about%253cmark%253e-act-financial%253c%2Fmark%253e-long-awaited-ipo-next-month\" style=\"\" rel=\"noopener\">offering<\/a> some 32% of the company\u2019s shares following a capital increase, with the subscription period for retail investors set to take place between 9-23 July, while institutional investors will get a chance to subscribe between 9-18 July.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company has set the final IPO price at EGP 2.90 per share<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/78.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. Financial Advice Corporate Transactions (FACT) \u2014 the independent financial advisor to the transaction \u2014 set the fair value price at EGP 3.63 per share, down from the EGP 4.54 previously set as the fair value price. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Act Financial also announced its performance during the year so far:<\/strong> The company recorded revenues of EGP 138.4 mn during the first five months of the year and recorded net income of EGP 24.4 mn during the period, it said in its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/77.pdf\" style=\"\" rel=\"noopener\">financial statement (pdf)<\/a>.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">DATA POINTS- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt5\"><\/a> <strong>#1- Egypt welco<\/strong><strong>m<\/strong><strong>ed a record 7.1 mn tourists in 1H 2024<\/strong>, ever so slightly inching above the previous record in the first half of last year, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/967592688744485?ref=embed_post\" style=\"\" rel=\"noopener\">Tourism Ministry statement<\/a>. Overnight stays also rose to 70.2 mn from 67.6 mn in the same period last year, leading to an estimated USD 6.6 bn in tourism revenues, up from USD 6.3 bn.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#2- The Sovereign Fund of Egypt has drawn in some EGP 52 bn in local investments<\/strong><strong> and around USD 5.1 bn in foreign investments over the past four years<\/strong>, Planning Minister Hala El Said said during the Egypt-EU Investment Conference, <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1807013313286435231\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reported. <\/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>#3- MENA-bound remittances projected to rebound 4.3% y-o-y to USD 58 bn in 2024 on the<\/strong><strong> back of uptick of flows into Egypt<\/strong>, which the World Bank in its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1813.pdf\" style=\"\" rel=\"noopener\">Migration and Development Brief (pdf)<\/a> attributed to people returning to official channels to send money into the country after the unification of the exchange rate in March. Come 2025, the lender sees remittances to the region picking up a further 5.5% y-o-y to USD 61 bn.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- The General Authority for Freezones and Investment has issued 31 golden licenses to<\/strong><strong> local and foreign investors in Egypt since December 2022<\/strong>, authority head Hossam Heiba said on the sidelines of the Egypt-EU Investment Conference, <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1807048574103863722\" style=\"\" rel=\"noopener\">Asharq Business<\/a> wrote.<\/p><p class=\"tag-border-left\">WAR WATCH-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt rejected rumors it agreed to move or replace the Rafah crossing <\/strong>with another near the Kerem Shalom crossing from Israel into Gaza, an unnamed high-level source told <a target=\"_blank\" href=\"https:\/\/alqaheranews.net\/news\/85900\/%D9%85%D8%B5%D8%AF%D8%B1-%D8%B1%D9%81%D9%8A%D8%B9-%D8%A7%D9%84%D9%85%D8%B3%D8%AA%D9%88%D9%89-%D9%8A%D9%86%D9%81%D9%89-%D9%85%D9%88%D8%A7%D9%81%D9%82%D8%A9-%D9%85%D8%B5%D8%B1-%D8%B9%D9%84%D9%89-%D9%86%D9%82%D9%84-%D9%85%D9%86%D9%81%D8%B0-%D8%B1%D9%81%D8%AD-%D8%A3%D9%88-%D8%A8%D9%86%D8%A7%D8%A1-%D9%85%D9%86%D9%81%D8%B0-%D8%AC%D8%AF%D9%8A%D8%AF\" style=\"\" rel=\"noopener\">Al Qahera News<\/a>. The source reiterated Egypt's position that Israeli troops should withdraw from the Palestinian side of the crossing and that the country won\u2019t send any forces into Gaza, adding that the post-war management of the enclave is purely a Palestinian affair. <\/p><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One for the aerospace aficionados:<\/strong> The <a target=\"_blank\" href=\"https:\/\/www.egypt-air-show.com\/\" style=\"\" rel=\"noopener\">Egypt International Airshow<\/a> will take place from 3-5 September at El Alamein International Airport. The event will showcase the latest developments and innovations in the defense, space, and commercial aviation industries. It will feature flying and static <a target=\"_blank\" href=\"https:\/\/www.egypt-air-show.com\/flying-static-displays\" style=\"\" rel=\"noopener\">aircraft displays<\/a>, two <a target=\"_blank\" href=\"https:\/\/www.egypt-air-show.com\/conferences\" style=\"\" rel=\"noopener\">conferences<\/a>, and an <a target=\"_blank\" href=\"https:\/\/www.egypt-air-show.com\/exhibition\" style=\"\" rel=\"noopener\">exhibition<\/a> of aerospace products and services, bringing together over 200 global exhibitors. You can register for the event <a target=\"_blank\" href=\"https:\/\/www.egypt-air-show.com\/register-interest\" style=\"\" rel=\"noopener\">here<\/a> or inquire about exhibiting <a target=\"_blank\" href=\"https:\/\/www.egypt-air-show.com\/exhibiting-enquiry\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US, British and French politics continue to push markets off the front pages <\/strong>of the global business press. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not much has changed since yesterday: <\/strong>Democrats are still losing it over contentions that Joe Biden is too old to run for president. Top party officials held a call with key donors late yesterday to try to shore up their financial base. <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b411ba0e-62f0-4152-8f61-9a1506f4ac5f\" style=\"\" rel=\"noopener\">The FT sums up<\/a> the current state of the debate nicely: There\u2019s a growing sense among \u201cdonors, consultants, and operatives that <strong>Biden is no longer fit to challenge Donald Trump for the presidency and should make way for a younger candidate<\/strong>.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And it could get messy<\/strong>, the paper says, noting there\u2019s \u201canger at the president\u2019s family and close circle of advisers for concealing his condition and their unwillingness to countenance his exit from White House race.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Across the pond: <\/strong>Keir Starmer\u2019s Labour party <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-01\/bloomberg-uk-poll-of-polls-labour-slips-while-keeping-big-lead?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">still leads<\/a> Rishi Sunak\u2019s Conservatives by 20 points or so in polls. And the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/06\/30\/world\/europe\/france-elections.html\" style=\"\" rel=\"noopener\">horse-trading continues in France<\/a>, as other parties look to block the far-right Rassemblement National from running away with parliament in second-phase voting due next week.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- The US Supreme Court ruled that Trump has broad immunity <\/strong>for official (but not necessarily personal) actions he took while in office \u2014 a finding that <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-01\/supreme-court-partially-backs-trump-on-immunity-delaying-trial?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">almost ensures<\/a> he won\u2019t face trial before November on charges that he tried to usurp the 2020 election. <\/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\/ads\/imgs\/239.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We take a look at the new carbon pricing draft law and consider how implementing carbon price mechanisms will help us achieve our green transition goals.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"628307 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"628307\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/628307\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-628307\" class=\"content-area-description single-story post-628307 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1329.png?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Discover your dream getaway<\/span><span> with our signature collection of vacation homes and let our expert team craft your perfect holiday experience.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"628308\" 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=\"628308\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/green-hydrogen-solar-ethane-and-wind-project-investment-news-ramps-up\/\">\r\n                            Green hydrogen, solar, ethane and wind power investment announcements follow Egypt-EU Investment Conference                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    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data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2833.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2833.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2833.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-628308\" class=\"content-area-description single-story post-628308 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-acwa-power tag-alexandria-fertilizers tag-bp tag-egypt-kuwait-holding tag-egyptian-natural-gas-holding-company tag-energy tag-enterpriseam tag-ethydco tag-eu tag-fertilizers tag-green-hydrogen tag-hassan-allam-holding tag-infinity tag-masdar tag-qalaa-holdings tag-renewables tag-sidi-kerir-petrochemicals tag-taqa-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.4c26980e-7867-407a-98f3-2bd7bd77e5d6.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Energy investment news has been keeping up the pace since the close of the Egypt-EU<\/strong><strong> Investment Conference<\/strong>, with new details and even projects to emerge from the conference and other completely unrelated announcements from what is undoubtedly the main focus of investment in the country at present.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>More on the recently announced BP-Infinity-Masdar-Hassan Allam green hydrogen<\/strong><strong> venture: <\/strong>Under the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/4678b944-fc3c-4ae9-82b0-98d0ee09c708\" style=\"\" rel=\"noopener\">USD 15 bn green hydrogen project<\/a> announced at the Egypt-EU Investment Conference that wrapped on Sunday, our friends at renewables firm Infinity Power, Hassan Allam, and the UAE\u2019s Masdar, signed a joint development agreement with BP to let it into its existing consortium to explore establishing a multi-phase green hydrogen project in Egypt, according to a joint <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/126.pdf\" style=\"\" rel=\"noopener\">s<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/126.pdf\" style=\"\" rel=\"noopener\">tatement (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">What we know now:<\/strong><span style=\"background-color: transparent;\"> The four big names will combine their green hydrogen projects in the country, before exploring \u201cthe potential for a single large-scale, multi-phase project for the development of green hydrogen and its derivatives, with a focus on exports,\u201d the statement reads. Consortium newcomer BP has been tapped to be the main developer and operator of the project.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next: <\/strong>The consortium has a freshly inked framework agreement with the government giving them the greenlight to begin technical and commercial feasibility studies for the project.<\/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- Sidpec-led consortium confirms project to import ethane: <\/strong>Sidi Kerir Petrochemicals (Sidpec), along with Egyptian Petrochemicals Holding, Egyptian Ethylene and Derivatives, Egyptian Natural Gas Company, and Gama Construction Company, confirmed that they will set up a company with a market cap of USD 663 mn to import liquified ethane gas this year after getting approval from the wider consortium of chemical, gas, and construction firms involved in the project, the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/68.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> Plans to establish a company to facilitate ethane imports <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/32fbe8ad-e741-4025-b286-1d61f14a199f\/new-public-private-consortium-to-launch-usd-600-mn-to-import-ethane-gas\" style=\"\" rel=\"noopener\">emerged<\/a> in then-unconfirmed reports late last month after Sidpec was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/454b221a-69a5-4435-864e-86f3fc55f90e\/egyptian-government-pledges-to-end-power-cuts-by-third-week-of-july-with-usd-1.2-bn-set-aside-for-energy-imports-and-other-initiatives\" style=\"\" rel=\"noopener\">forced to shut down operations<\/a> due to a \u201clack of feed gasses,\u201d a result of high temperatures, increasing electricity consumption prices, and cuts to the regional gas supply. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, another fertilizer factory goe<\/strong><strong>s offline: <\/strong>Egypt Kuwait Holding\u2019s AlexFert has once again suspended operations after it stopped receiving gas supplies due increased consumption triggered by higher temperatures, the company said yesterday in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/79.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><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/egyptian-consortium-import-us-shale-gas-tackle-short-gas-supplies-2024-07-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a><\/strong><strong> also picked up the story.<\/strong><\/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- ACWA Power gets the green light to operate its <\/strong><strong>Kom Ombo<\/strong><strong> solar plant: <\/strong>Saudi Arabia\u2019s ACWA Power has received a commercial operation certificate for its 200-MW Kom Ombo <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1ebf21fb-3f6b-40ff-8ee9-c3971b02df93\" style=\"\" rel=\"noopener\">solar plant<\/a> \u2014 Egypt\u2019s largest <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1ebf21fb-3f6b-40ff-8ee9-c3971b02df93\" style=\"\" rel=\"noopener\">privately owned<\/a> solar plant \u2014 it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMjAwkg_ODVPvyA3NMIgMyA3XNdREQC5cNBA\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MTEzNi9jb21wYW55U3ltYm9sLzIwODIvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">Tadawul disclosure<\/a>. Acwa has a 25-year power purchase agreement with the Egyptian Electricity Transmission Company and expects the financial impacts in the third quarter of this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher: <\/strong>Once online, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/29b4d631-254c-4e80-9f2c-f01ebf194da5\" style=\"\" rel=\"noopener\">the solar farm<\/a>, which will span 4.8 sq km and contain over 387k bifacial solar panels, will be connected to the country\u2019s electricity grid and offset an estimated 280k tons of carbon emissions annually by powering 130k households.<\/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- <\/strong><strong>Taqa Arabia is looking<\/strong><strong> to produce 150 MW of solar energy in Egypt: <\/strong>Qalaa Holdings\u2019 Taqa Arabia is negotiating with clients in the tourism, industrial and agricultural sectors about proposed projects to produce 150 MW of solar energy in Egypt, Chairman Khaled Abu Bakr told <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/ar\/%D8%A7%D9%84%D8%A3%D8%B9%D9%85%D8%A7%D9%84\/%D8%B7%D8%A7%D9%82%D8%A9\/150-b54teteh\" style=\"\" rel=\"noopener\">Zawya<\/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>#5- Infinity-Hassan Allam-Masdar consortium pushes back USD 10 bn Sohag wind farm<\/strong><strong> construction date: <\/strong>Construction will begin on Infinity Power, Hassan Allam Utilities, and Masdar\u2019s 10 GW wind project in March 2026, Infinity Power Mohamed chairman Mansour told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-27\/egypt-s-10-billion-wind-farm-is-poised-to-break-ground-in-2026?utm_medium=social&amp;utm_campaign=socialflow-organic&amp;utm_content=climate&amp;cmpid=socialflow-twitter-climate&amp;utm_source=twitter\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. Construction was initially set for this year but fell behind due to land procurement issues in West Sohag. The project will begin electricity generation in 2032, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Infinity is also planning expansion in Cameroon:<\/strong> To help reach Infinity\u2019s goal of upping its capacity from 1.3 GW to 10 GW by 2030, the company is planning to raise USD 2 bn in debt and equity to develop 4 GW of small scale projects in West Cameroon, Mansour said in the interview.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/acwa-power\/\">ACWA Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alexandria-fertilizers\/\">Alexandria Fertilizers<\/a>\n    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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\/fertilizers\/\">fertilizers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hassan-allam-holding\/\">Hassan Allam Holding<\/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 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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\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/vokswagen-mulls-partnering-in-shared-auto-production-facility-in-east-port-said\/\">\r\n                            Vokswagen mulls partnering in shared auto production facility in East Port Said Industrial Zone                        <\/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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<\/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\/02\/vokswagen-mulls-partnering-in-shared-auto-production-facility-in-east-port-said\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/123.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"628312\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/vokswagen-mulls-partnering-in-shared-auto-production-facility-in-east-port-said\/123-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/123.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"123.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/123.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/123.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-628311\" class=\"content-area-description single-story post-628311 post type-post status-publish format-standard has-post-thumbnail hentry category-automotive tag-automotive tag-east-port-said-automotive-zone tag-enterpriseam tag-manufacturing tag-volkswagen 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\/.7810ab08-d4eb-43fa-af09-27033a7ee789.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Volkswagen seems keen on proposed shared auto production facility: <\/strong>German carmaker Volkswagen is interested in helping develop a shared production facility in the East Port Said Industrial Zone, Volkswagen Group Africa Chairperson and Managing Director Martina Biene told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/65192\/%D9%81%D9%88%D9%84%D9%83%D8%B3-%D9%88%D8%A7%D8%AC%D9%86-%D8%AA%D8%AF%D8%B1%D8%B3-%D8%AC%D8%AF%D9%88%D9%89-%D8%A8%D9%86%D8%A7%D8%A1-%D9%85%D8%B5%D9%86%D8%B9-%D9%84%D8%AA%D8%AC%D9%85%D9%8A%D8%B9-%D9%88%D8%B7%D9%84%D8%A7%D8%A1-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1\/\" 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 style=\"background-color: transparent;\">Remember:<\/strong><span style=\"background-color: transparent;\"> The Madbouly government and Volkswagen <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/601334bb-70b3-47ce-b5cb-765875e6f635\/%253cmark%253evolkswagen%253c%2Fmark%253e-to-work-with-gov%25e2%2580%2599t-on-auto-industrial-zone-study\" rel=\"noopener\">signed<\/a><span style=\"background-color: transparent;\"> an agreement in November to conduct feasibility studies for the establishment of the planned East Port Said Automotive Zone (EPAZ), for which Volkswagen was set to provide the government with technical assistance as it works on the zone\u2019s feasibility study. Volkswagen\u2019s assistance to the project was driven by the firm\u2019s interest in upping its presence in the country and jumping on board with efforts to localize the industry under the Automotive Industry Development Program.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An automotive industry first: <\/strong>\u201cWhat Egypt and East Port Said is trying to build is something unique and something we have not heard of in the automotive industry before,\u201d Biene added. The shared production facility will be used by different original equipment manufacturers (OEMs), Biene said, explaining that they are \u201cinterested in sharing in assembly so that individual manufacturers only would have to set up their individual bodyshops.\u201d As an example, Beine pointed to the possibility of different car manufacturers sharing a vehicle painting complex, \u201cwhich reduces the capex side of the investments a lot and moves it into opex.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The more the merrier: <\/strong>\u201cThe project really becomes interesting if there are other OEM partners. So, we would welcome all other manufacturing partners that are interested in looking at this experiment.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A final agreement could be announced in 2025: <\/strong>If the project proves feasible, Biene hopes to present a final agreement by next year, which would then be followed by the construction of the facilities, she said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And another? <\/strong>The government is in \u201cadvanced talks\u201d with a major non-Chinese vehicle manufacturer to assemble its cars locally, Trade Minister Ahmed Samir told <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1807030724148473919\" style=\"\" rel=\"noopener\">Asharq Business<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/east-port-said-automotive-zone\/\">East Port Said Automotive Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/volkswagen\/\">Volkswagen<\/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=\"628313\" 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=\"628313\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/tmg-aoi-partner-with-schindler-to-localize-elevator-manufacturing\/\">\r\n                            TMG, AOI partner with Schindler to localize elevator manufacturing                        <\/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\/02\/tmg-aoi-partner-with-schindler-to-localize-elevator-manufacturing\/\" 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\/02\/tmg-aoi-partner-with-schindler-to-localize-elevator-manufacturing\/')\">\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\/02\/tmg-aoi-partner-with-schindler-to-localize-elevator-manufacturing\/\">\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=TMG, AOI partner with Schindler to localize elevator manufacturing&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/tmg-aoi-partner-with-schindler-to-localize-elevator-manufacturing\/\">\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\/02\/tmg-aoi-partner-with-schindler-to-localize-elevator-manufacturing\/&title=TMG, AOI partner with Schindler to localize elevator manufacturing\">\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=TMG%2C+AOI+partner+with+Schindler+to+localize+elevator+manufacturing+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F07%2F02%2Ftmg-aoi-partner-with-schindler-to-localize-elevator-manufacturing%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\/02\/tmg-aoi-partner-with-schindler-to-localize-elevator-manufacturing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/707.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"628314\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/tmg-aoi-partner-with-schindler-to-localize-elevator-manufacturing\/707-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/707.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"707.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/707.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/707.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-628313\" class=\"content-area-description single-story post-628313 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-arab-organization-for-industrialization tag-enterpriseam tag-manufacturing tag-schindler tag-talaat-moustafa-group wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.35ac159d-2621-4942-82bf-886ae5f647a7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egyptian-made elevators? <\/strong>The Arab Organization for Industrialization and Talaat Moustafa Group will work to localize elevator manufacturing under a framework agreement inked with Swiss elevator and escalator manufacturer <a target=\"_blank\" href=\"https:\/\/www.schindler.eg\/en.html\" style=\"\" rel=\"noopener\">Schindler<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/Sou4mJTSZVFesAdo\/\" style=\"\" rel=\"noopener\">statement<\/a>. Schindler will launch a program to localize certain elevator components, which will then be used in upcoming Housing Ministry and New Urban Communities Authority projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>Under the agreement, Talaat Moustafa Group and the Arab Organization for Industrialization will set up a facility for the assembly and testing of elevators, while Schindler will provide technical assistance and manage the facility. The facility is expected to produce 5k elevators a year over a ten-year period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>Last year, we discussed the challenges facing the elevator industry in Egypt amid demand increase in our weekly section <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ff32af49-e16d-4fb7-b838-381373a3936b\" style=\"\" rel=\"noopener\">Inside Industry<\/a><\/strong>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arab-organization-for-industrialization\/\">Arab Organization for Industrialization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/schindler\/\">Schindler<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/talaat-moustafa-group\/\">Talaat Moustafa Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"628315\" 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=\"628315\">\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\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/auto-sales-rise-for-the-second-month-in-a-row-in-may\/\">\r\n                            Auto sales in Egypt rise for the second month in a row in May                        <\/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\/02\/auto-sales-rise-for-the-second-month-in-a-row-in-may\/\" 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 uptick follows <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/67a7078c-d616-4b6a-95a1-bf492ba67cb0\/auto-sales-recovered-by-around-a-third-in-april\" style=\"\" rel=\"noopener\">April\u2019s 35.1% m-o-m increase<\/a>, which saw sales rebound to 5.7k units from March\u2019s 4.2k \u2014 the lowest number of auto sales we\u2019ve seen since we started keeping track in January 2019.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Growth across the board: <\/strong><span style=\"background-color: transparent;\">Bus sales rose 36.8% m-o-m to 450 units in May, while truck sales were up 29.4% m-o-m to just over 1k units. Passenger car sales \u2014 which accounted for 76.6% of all vehicle sales \u2014 recorded a modest increase of 5.7% m-o-m to 4.8k units.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Auto sales have been relatively volatile \u2014 but overall on the decline \u2014 for the last few years. In late 2023, auto sales fell on the back of FX shortages that limited supply in the market and gave distributors leverage to hike prices as they pleased. But over the past few months, demand has been fluctuating and in March sales fell in response to the float of the EGP, which some think led to customers adopting a wait-and-see approach in hopes of further price reductions down the line. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a yearly basis: <\/strong>Auto sales were down 14.2% y-o-y in May, driven by a 35.2% y-o-y dip in bus sales and a 15.7% y-o-y in passenger car sales. Truck sales, on the other hand, increased by 10.5% compared to the same period last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More cars should be hitting the local market soon:<\/strong> The government will release all cars stuck at the country\u2019s ports by the end of the week after the process to do so kicked off last week, an unnamed government official told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/06\/30\/1804790\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The official downplayed the number of the cars still stuck at the ports, saying that the reported numbers have been greatly exaggerated, and that the official figure will be announced once the vehicles are released.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But not all cars will be getting the green light to clear customs: <\/strong>The government decided to halt all customs clearance and pre-registration of tax-exempt vehicles for differently abled individuals for six months to put in place a new system that will prevent non-differently abled people fraudulently purchasing vehicles through the system, according to a document seen by <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/65234\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%AC%D9%85%D8%AF-%D8%A7%D8%B3%D8%AA%D9%8A%D8%B1%D8%A7%D8%AF-%D8%B3%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A3%D8%B5%D8%AD%D8%A7%D8%A8-%D8%A7%D9%84%D8%A7%D8%AD%D8%AA%D9%8A%D8%A7%D8%AC%D8%A7%D8%AA-%D8%A7%D9%84%D8%AE%D8%A7%D8%B5%D8%A9-6-%D8%A3%D8%B4%D9%87%D8%B1\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. Cars for individuals with special needs account for about 25% of Egypt\u2019s annual vehicle imports, Egyptian Automotive Dealers Association head Osama Abo El Magd told the news outlet.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Always read the small print:<\/strong> AMIC figures reflect data contributed by member distributors, who include most, but not all, industry participants.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/amic\/\">AMIC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/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=\"628317\" 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=\"628317\">\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\/02\/valu-raises-egp-1-2-bn-in-securitized-bond-issuance\/\">\r\n                            Egypt\u2019s Valu raises EGP 1.2 bn in 10th securitized bond issuance                        <\/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\/02\/valu-raises-egp-1-2-bn-in-securitized-bond-issuance\/\" 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\/02\/valu-raises-egp-1-2-bn-in-securitized-bond-issuance\/')\">\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\/02\/valu-raises-egp-1-2-bn-in-securitized-bond-issuance\/\">\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=Valu raises EGP 1.2 bn in securitized bond issuance&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/valu-raises-egp-1-2-bn-in-securitized-bond-issuance\/\">\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\/02\/valu-raises-egp-1-2-bn-in-securitized-bond-issuance\/&title=Valu raises EGP 1.2 bn in securitized bond issuance\">\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=Valu+raises+EGP+1.2+bn+in+securitized+bond+issuance+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F07%2F02%2Fvalu-raises-egp-1-2-bn-in-securitized-bond-issuance%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\/02\/valu-raises-egp-1-2-bn-in-securitized-bond-issuance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1308.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"628318\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/valu-raises-egp-1-2-bn-in-securitized-bond-issuance\/1308-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1308.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1308.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1308.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1308.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-628317\" class=\"content-area-description single-story post-628317 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt tag-debt-watch tag-efg-holding tag-enterpriseam tag-securitization tag-valu 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\/.6b4142e7-bdd8-4f3e-af14-68f1b33a5aa2.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Valu has raised EGP 1.2 bn in securitized bonds<\/strong> as part of a larger EGP 9 bn securitization program, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/85.pdf\" style=\"\" rel=\"noopener\">statement (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/85.pdf\" style=\"\" rel=\"noopener\">pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/85.pdf\" style=\"\" rel=\"noopener\">)<\/a>. The issuance was backed by a receivables portfolio assigned to EFG for Securitization with a Prime 1-rated 6-month tenor tranche and another Prime 2-rated 12-month tenor tranche.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">This is Valu\u2019s 10th issuance <\/strong><span style=\"background-color: transparent;\">and it follows an EGP 616.8 mn securitization issuance in <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/35c6ddd5-347f-4a47-a34f-cb76b237d3e1\/%253cmark%253evalu%253c%2Fmark%253e-raises-egp-617-mn-in-securitized-bonds\" rel=\"noopener\">May<\/a><span style=\"background-color: transparent;\">. The company plans to issue a total of EGP 4 bn worth of securitized bonds in 2024, Hassouna said in earlier this year.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who bought in: <\/strong>EFG Hermes and the Arab African International Bank were underwriters and Bank ABC was listed as one of the subscribers to the issuance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Valu is gearing up for an EGX listing with Valu CEO Walid Hassouna saying in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6a73f472-1962-487e-81a1-e1614da9298c\/valu-plans-to-ipo-within-a-year-%2B-jordan-expansion-pushed-back\" style=\"\" rel=\"noopener\">March<\/a> that Valu plans to offer between 20-25% of its shares on the EGX within a year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> EFG Hermes was the sole financial advisor, transaction manager, bookrunner, and arranger on the issuance. Arab African International Bank also served as the custodian bank. Baker Tilly acted as auditor and Dreny &amp; Partners provided legal counsel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT-<\/strong> Companies have raised a little over EGP 16 bn from securitization so far this year, according to data tracked by Enterprise. This is 37% less than the amount raised in the same period last year, when companies clocked up some EGP 25.3 bn.<\/p>\n<p class=\"tag-border-left\">NTA IN LINE FOR EGP 74 BN IN FINANCING?-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The National Tunnels Authority (NTA) has kicked off procedures to take out a loan of up<\/strong><strong> to EGP 74 bn from a syndicate of ten local banks<\/strong>, led by the state-owned National Bank of Egypt and Banque Misr, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/65208\/%D9%87%D9%8A%D8%A6%D8%A9-%D8%A7%D9%84%D8%A3%D9%86%D9%81%D8%A7%D9%82-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D9%82%D8%AA%D8%B1%D8%B6-74-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AC%D9%86%D9%8A%D9%87-%D9%84%D8%B3%D8%AF%D8%A7%D8%AF-%D9%85%D8%B3%D8%AA%D8%AD%D9%82%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D9%82%D8%A7%D9%88%D9%84%D9%8A%D9%86\/?utm_source=twitter&amp;utm_medium=social&amp;utm_campaign=asharqbegy\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing three anonymous government officials. The funds, which will be guaranteed by the Finance Ministry, will reportedly be used to pay local contractors currently working or slated to work on the authority\u2019s projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The timeline:<\/strong> The authority could receive a tranche worth more than EGP 10 bn this month and the remainder of the funds before the end of 3Q 2024, one of the sources said. <\/p>\n<p class=\"tag-border-left\"> FUNDS FOR RAYA IT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Baraka Bank will provide Raya Holding subsidiary Raya Information<\/strong><strong> Technology with a credit facility of up to EGP 550 mn<\/strong> or its equivalent in foreign currency under a cooperation agreement inked between the two sides, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/81.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The financing will help the company fund its expansion plans and explore new avenues for growth.<\/p>\n<p class=\"tag-border-left\">ADCB LOANS EGP 1.5 BN FOR NEW CAIRO DEVELOPMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The developer behind New Cairo\u2019s Regent\u2019s Park secured funding for another New Cairo<\/strong><strong> project:<\/strong> Abu Dhabi Commercial Bank (ADCB) has signed a financing agreement with Cairo-based property developer <a target=\"_blank\" href=\"https:\/\/www.aldawliadevelopments.com\/\" style=\"\" rel=\"noopener\">Al Dawlia Boutique Developments<\/a> to provide a credit facility worth EGP 1.5 bn over five years to fund one of the company\u2019s new projects in New Cairo, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d8%a8%d9%86%d9%83-%d8%a3%d8%a8%d9%88%d8%b8%d8%a8%d9%8a-%d8%a7%d9%84%d8%aa%d8%ac%d8%a7%d8%b1%d9%8a-%d9%8a%d9%85%d9%86%d8%ad-%d8%aa%d8%b3%d9%87%d9%8a%d9%84-%d8%a8%d9%80-1-450-%d9%85%d9%84%d9%8a%d8%a7\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports. The funds will support the development of a large-scale real estate project aimed at expanding the residential and commercial infrastructure in the area. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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-holding\/\">EFG Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/valu\/\">ValU<\/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=\"628319\" 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=\"628319\">\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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/efg-hermes-tops-the-bourse-brokerage-league-table-in-june\/\">\r\n                            EFG Hermes once again tops the EGX brokerage league table in June                        <\/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\/02\/efg-hermes-tops-the-bourse-brokerage-league-table-in-june\/\" 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\/02\/efg-hermes-tops-the-bourse-brokerage-league-table-in-june\/')\">\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\/02\/efg-hermes-tops-the-bourse-brokerage-league-table-in-june\/\">\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=EFG Hermes tops the bourse brokerage league table in June&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/efg-hermes-tops-the-bourse-brokerage-league-table-in-june\/\">\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\/02\/efg-hermes-tops-the-bourse-brokerage-league-table-in-june\/&title=EFG Hermes tops the bourse brokerage league table in June\">\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=EFG+Hermes+tops+the+bourse+brokerage+league+table+in+June+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F07%2F02%2Fefg-hermes-tops-the-bourse-brokerage-league-table-in-june%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\/02\/efg-hermes-tops-the-bourse-brokerage-league-table-in-june\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/94.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"628320\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/efg-hermes-tops-the-bourse-brokerage-league-table-in-june\/94-jpg-38\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/94.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"94.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/94.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/94.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-628319\" class=\"content-area-description single-story post-628319 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-brokerage-league tag-capital-markets tag-ci-capital tag-efg-hermes tag-enterpriseam tag-mubasher-securities tag-thndr 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\/.466118ae-1f46-43ea-b689-93c2af11a138.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EFG Hermes\u2019 brokerage arms once again topped the EGX brokerage league table in June<\/strong> with a market share of 18.5%, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/130.pdf\" style=\"\" rel=\"noopener\">figu<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/130.pdf\" style=\"\" rel=\"noopener\">res released by the bou<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/130.pdf\" style=\"\" rel=\"noopener\">rse (pdf)<\/a>. Rounding out the top five were CI Capital (9.0%), Thndr Securities (7.0%), Cairo Capital Securities (5.4%), and Mubasher Securities (5.0%). EFG Hermes has led the table for 13 months in a row now, and held the top spot in every month but one back in 2023. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/brokerage-league\/\">brokerage league<\/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\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mubasher-securities\/\">Mubasher Securities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/thndr\/\">Thndr<\/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=\"628321\" 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=\"628321\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/new-fiscal-year-kicks-off-with-management-changes-across-public-private-sectors\/\">\r\n                            New fiscal year kicks off with management changes across public, private sectors                        <\/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\/02\/new-fiscal-year-kicks-off-with-management-changes-across-public-private-sectors\/\" 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\/02\/new-fiscal-year-kicks-off-with-management-changes-across-public-private-sectors\/')\">\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\/02\/new-fiscal-year-kicks-off-with-management-changes-across-public-private-sectors\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=New fiscal year kicks off with management changes across public, private sectors&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/new-fiscal-year-kicks-off-with-management-changes-across-public-private-sectors\/\">\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\/02\/new-fiscal-year-kicks-off-with-management-changes-across-public-private-sectors\/&title=New fiscal year kicks off with management changes across public, private sectors\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=New+fiscal+year+kicks+off+with+management+changes+across+public%2C+private+sectors+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F07%2F02%2Fnew-fiscal-year-kicks-off-with-management-changes-across-public-private-sectors%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\/02\/new-fiscal-year-kicks-off-with-management-changes-across-public-private-sectors\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/505.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"628322\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/new-fiscal-year-kicks-off-with-management-changes-across-public-private-sectors\/505-jpeg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/505.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"505.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/505.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/505.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-628321\" class=\"content-area-description single-story post-628321 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-allianz tag-enterpriseam tag-industrial-development-bank tag-insurance tag-moves tag-prime-holding 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\/.d81a1df4-3e53-49cf-a76e-961fd20ecf7d.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>New fiscal year\u2019s resolutions: <\/strong>Hoping to kick off the new fiscal year with a fresh start, the public and private sectors are busy appointing new and old faces to leadership positions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Prime Holding has terminated CEO Hassan Samir <\/strong>(<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/hassan-samir-farid-a03a1b43\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), who also served as vice chairman and managing director of the company, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/72.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. Samir <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0ca6d393-4b0b-4cb5-b8de-8e7a922bae33\" style=\"\" rel=\"noopener\">took on the added roles of CEO, managing director, and vice chairman<\/a> in January 2023 following a three-year stint as brokerage firm\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/11f85929-a4c4-4718-bbe3-17d8c35debdb\" style=\"\" rel=\"noopener\">managing director for capital markets<\/a>. He has been with the company for nearly two decades. Samir was fined EGP 1 mn by the company for \u201cdeliberately\u201d missing the general assembly meeting during which the termination decision was issued, according to the disclosure. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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- Allianz Egypt welcomes a new CEO:<\/strong> Allianz Egypt has appointed Charles Tawdros (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/charles-tawdros-2b077844\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as the company\u2019s new group CEO, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/119.pdf\" style=\"\" rel=\"noopener\">statement<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/119.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. Tawdros has more than 20 years of experience in the ins. and financial sectors and has served as the company\u2019s managing director since 2019.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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- The state-owned Industrial Development Bank has tapped a new CEO:<\/strong> The Industrial Development Bank yesterday welcomed Hussein Refaie (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/hussein-refaie-8b554140\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as the lender\u2019s new CEO and managing director, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/07\/01\/1805239\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports. Refaie brings in 40 years of banking and financial expertise, having worked for many banks, including CitiBank, Barclays, and the National Bank of Egypt. Refaie assumes his new post at IDB after leaving his managing director position at the Suez Canal Bank earlier this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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- <\/strong><strong>The legal sys<\/strong><strong>tem is also getting a shake up:<\/strong> President Abdel Fattah El Sisi has appointed Abdel Rady Seddiq as the new head of the Administrative Prosecution Authority and Ahmed Aboud as the new head of the State Council (Maglis El Dowla), Shorouk News reports (<a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=01072024&id=9113ba99-1b0a-473a-98ac-88d41579ad6e\" style=\"\" rel=\"noopener\">here<\/a>, <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=01072024&id=e139c895-8343-4e20-93fc-414d6b5caab7\" style=\"\" rel=\"noopener\">here<\/a>).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/allianz\/\">Allianz<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industrial-development-bank\/\">Industrial Development Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/insurance\/\">insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/prime-holding\/\">Prime 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=\"628323 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=\"628323\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/628323\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-628323\" class=\"content-area-description single-story post-628323 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/186.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"628324\" 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=\"628324\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/itida-telecom-egypt-and-nokia-to-establish-internet-protocol-center-of-excellence-in-cairo-plus-emirates-nbd-egypt-arab-contractors-antipollution-egypt-schindler-egyptair-air-cairo-nesma\/\">\r\n                            ITIDA, Telecom Egypt, and Nokia to establish internet protocol center of excellence in Cairo. PLUS: Emirates NBD Egypt, Arab Contractors, Antipollution Egypt, Schindler, EgyptAir + Air Cairo + Nesma                        <\/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\/02\/itida-telecom-egypt-and-nokia-to-establish-internet-protocol-center-of-excellence-in-cairo-plus-emirates-nbd-egypt-arab-contractors-antipollution-egypt-schindler-egyptair-air-cairo-nesma\/\" 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\/02\/itida-telecom-egypt-and-nokia-to-establish-internet-protocol-center-of-excellence-in-cairo-plus-emirates-nbd-egypt-arab-contractors-antipollution-egypt-schindler-egyptair-air-cairo-nesma\/')\">\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\/02\/itida-telecom-egypt-and-nokia-to-establish-internet-protocol-center-of-excellence-in-cairo-plus-emirates-nbd-egypt-arab-contractors-antipollution-egypt-schindler-egyptair-air-cairo-nesma\/\">\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=ITIDA, Telecom Egypt, and Nokia to establish internet protocol center of excellence in Cairo. PLUS: Emirates NBD Egypt, Arab Contractors, Antipollution Egypt, Schindler, EgyptAir + Air Cairo + Nesma&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/itida-telecom-egypt-and-nokia-to-establish-internet-protocol-center-of-excellence-in-cairo-plus-emirates-nbd-egypt-arab-contractors-antipollution-egypt-schindler-egyptair-air-cairo-nesma\/\">\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\/02\/itida-telecom-egypt-and-nokia-to-establish-internet-protocol-center-of-excellence-in-cairo-plus-emirates-nbd-egypt-arab-contractors-antipollution-egypt-schindler-egyptair-air-cairo-nesma\/&title=ITIDA, Telecom Egypt, and Nokia to establish internet protocol center of excellence in Cairo. PLUS: Emirates NBD Egypt, Arab Contractors, Antipollution Egypt, Schindler, EgyptAir + Air Cairo + Nesma\">\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=ITIDA%2C+Telecom+Egypt%2C+and+Nokia+to+establish+internet+protocol+center+of+excellence+in+Cairo.+PLUS%3A+Emirates+NBD+Egypt%2C+Arab+Contractors%2C+Antipollution+Egypt%2C+Schindler%2C+EgyptAir+%2B+Air+Cairo+%2B+Nesma+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F07%2F02%2Fitida-telecom-egypt-and-nokia-to-establish-internet-protocol-center-of-excellence-in-cairo-plus-emirates-nbd-egypt-arab-contractors-antipollution-egypt-schindler-egyptair-air-cairo-nesma%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\/02\/itida-telecom-egypt-and-nokia-to-establish-internet-protocol-center-of-excellence-in-cairo-plus-emirates-nbd-egypt-arab-contractors-antipollution-egypt-schindler-egyptair-air-cairo-nesma\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/152.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"628325\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/itida-telecom-egypt-and-nokia-to-establish-internet-protocol-center-of-excellence-in-cairo-plus-emirates-nbd-egypt-arab-contractors-antipollution-egypt-schindler-egyptair-air-cairo-nesma\/152-jpg-24\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/152.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"152.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/152.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/152.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-628324\" class=\"content-area-description single-story post-628324 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-arab-contractors tag-aviation tag-cit tag-egyptair tag-emirates-nbd tag-enterpriseam tag-esg tag-itida tag-manufacturing tag-nokia tag-privatization-watch tag-sovereign-fund-of-egypt tag-suez-canal tag-suez-canal-economic-zone tag-telecom-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.c7dd829c-52a7-46cd-a00c-3eee5cd38020.mp3\"><\/audio><\/figure>\n<p class=\"tag-border-left\">TELECOMS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ITIDA, Telecom Egypt, and Nokia to establish internet protocol center of excellence in<\/strong><strong> Cairo:<\/strong> ITIDA, Telecom Egypt, and Nokia signed an MoU to create a center of excellence to develop expertise in automating IP networks and enhancing Egypt's ICT export capabilities, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/story.php?story_fbid=966652842171803&amp;id=100064812882317&amp;mibextid=WC7FNe&amp;rdid=xoFTb55qKlnE9D9H\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. The center will initially export digital services to over 60 countries in the MEA region, focusing on advancing AI, software development, and network technologies.<\/p>\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>Offers roll in for former gov\u2019t HQs:<\/strong> Some seven local and international investors have submitted offers for eight former ministerial headquarters in Downtown Cairo, Planning Minister Hala El Said told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/65182\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%AA%D9%84%D9%82%D9%89-7-%D8%B9%D8%B1%D9%88%D8%B6-%D9%85%D8%AD%D9%84%D9%8A%D8%A9-%D9%88%D8%AF%D9%88%D9%84%D9%8A%D8%A9-%D9%84%D8%A7%D8%B3%D8%AA%D8%BA%D9%84%D8%A7%D9%84-8-%D9%85%D9%82%D8%A7%D8%B1-%D8%AD%D9%83%D9%88%D9%85%D9%8A%D8%A9-%D8%A8%D9%88%D8%B3%D8%B7-%D8%A7%D9%84%D9%82%D8%A7%D9%87%D8%B1%D8%A9\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The Sovereign Fund of Egypt will start offering the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ef724289-1e5e-4379-ad09-c73d6db2aada\/sfe-to-start-offering-former%253cmark%253e-ministerial-%253c%2Fmark%253ehqs-to-investors-in-2h-2024\" style=\"\" rel=\"noopener\">HQs after wrapping up their valuation studies<\/a> before the end of the year and will then start looking into the offers received, she added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/457a61c7-92d0-4f8b-b17c-436dad90950f\" style=\"\" rel=\"noopener\">transferred<\/a> its ownership of a set of ministerial headquarters to the SFE earlier this year in its efforts to sell off or repurpose the properties.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent;\">SUSTAINABILITY-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirates NBD Egypt unveils its first annual sustainability report: <\/strong>Emirates NBD Egypt has released its first <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1871.pdf\" style=\"\" rel=\"noopener\">sustai<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1871.pdf\" style=\"\" rel=\"noopener\">nability report (pdf)<\/a> outlining the environmental, social, and corporate governance standards implemented by the bank between 2021-2023, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1873.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. \u201cThe integration of sustainability into [Emirates NBD Egypt\u2019s] strategic vision has not only enhanced our resilience but also set us on a path toward innovative and responsible banking,\u201d CEO Amr El Shafei said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The highlights: <\/strong>Emirates NBD Egypt has reduced electricity consumption by 40% and decreased paper usage by 20% via a comprehensive waste management and recycling program and the adoption of a variable refrigerant flow system, in addition to establishing a program financing solar panel projects.<\/p>\n<p class=\"tag-border-left\">LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Arab Contractors wants funding for Suez Canal logistics services area:<\/strong> Arab Contractors is in talks with Afreximbank over a USD 50 mn loan to fund its logistics services area near the Suez Canal, managing director Mohamed Mandour told <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1807065240653254996\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The area will serve the mostly agricultural area of El Salheya and house warehouses along with foreign and locally owned factories.<\/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- Waste management services at the Suez Canal:<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/770cc89d-1886-402e-81e0-f51ff3769ded\" style=\"\" rel=\"noopener\">Antipollution Egypt<\/a> and the Egyptian Company for Supplies and Maritime Works will provide waste management services at the northern entrance of the Suez Canal under an agreement inked with the Suez Canal Economic Zone, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/pfbid02WMkTyJvAYBTKUsPA252o8FGefPNuxzFwaMt9WffstYtA8oAa7kYALFyGv6UNVztrl\" style=\"\" rel=\"noopener\">statement<\/a>. The next phase of the project will see the two companies expand their waste management services to the southern entrance of the canal, the statement adds.<\/p>\n<p class=\"tag-border-left\"> AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Local airlines will soon launch flights between Cairo and Marseille<\/strong> in response to the demands of Egyptian expats in France, according to a Emigration Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02t71yyvMLGzts13TjD86vPVmeWaKJjHiXeZV6vcnj43DPo1PMMJxc6fwP19b8cHKCl\" style=\"\" rel=\"noopener\">statement<\/a>. <a target=\"_blank\" href=\"https:\/\/www.nesmaairlines.com\/\" style=\"\" rel=\"noopener\">Nesma Airlines<\/a> will operate two weekly flights between the two cities starting August, <a target=\"_blank\" href=\"https:\/\/aircairo.com\/\" style=\"\" rel=\"noopener\">Air Cairo<\/a> will launch two weekly flights mid-2025, and <a target=\"_blank\" href=\"https:\/\/www.egyptair.com\/en\/Pages\/HomePage.aspx\" style=\"\" rel=\"noopener\">EgyptAir<\/a> will operate five weekly flights starting 2026 or 2027, with the possibility of launching sooner if aircraft become available.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arab-contractors\/\">Arab Contractors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptair\/\">EgyptAir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emirates-nbd\/\">Emirates NBD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/esg\/\">ESG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/itida\/\">ITIDA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nokia\/\">Nokia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecom-egypt\/\">Telecom Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"628326\" 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=\"628326\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/gcc-sovereign-wealth-funds-post-largest-investment-share-in-15-years-globalswf\/\">\r\n                            GCC sovereign wealth funds post largest investment share in 15 years -GlobalSWF                        <\/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\/02\/gcc-sovereign-wealth-funds-post-largest-investment-share-in-15-years-globalswf\/\" target=\"_blank\">\n       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single-story post-628326 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-abu-dhabi-investment-authority tag-enterpriseam tag-financial-markets tag-mubadala tag-planet-finance tag-public-investment-fund tag-sovereign-wealth-funds wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.0443844b-bf98-4d14-b6ac-f1c83e1d995f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>GCC sovereign wealth funds accounted for more than half of the value of all state-backed <\/strong><strong>investments made so far this year<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/globalswf.com\/reports\/2024gsr#market-update-1h-2024-1:~:text=While%20the%20market%20uncertainty%20has%20invited%20global%20funds%20to%20be%20cautious%2C%20Gulf%2Dbased%20and%20particularly%2C%20Abu%20Dhabi%2Dbased%20funds%2C%20have%20received%20significant%20windfall%20from%20oil%20and%20are%20more%20active%20than%20ever.\" style=\"\" rel=\"noopener\">GlobalSWF<\/a>. In 1H 2024, GCC funds including the Abu Dhabi Investment Authority (Adia), Saudi Arabia\u2019s Public Investment Fund (PIF), and Qatar Investment Authority (QIA), backed some USD 52 bn worth of transactions \u2014 their largest share since 2009. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Oil revenues bolstered Abu Dhabi funds\u2019 spending: <\/strong><span style=\"background-color: transparent;\">Despite market volatility, Abu Dhabi\u2019s funds, including Mubadala and ADIA, are \u201cmore active than ever,\u201d buoyed by windfall from oil revenues, GlobalSWF Managing Director Diego Lopez said.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Leading the pack: <\/strong>Saudi Arabia\u2019s PIF led investment activity globally, expanding its footprint through asset transfers aimed at diversifying the state\u2019s funding sources beyond oil revenues. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In contrast to Middle Eastern funds\u2019 robust momentum, global state-backed funds trimmed their spending.<\/strong> Asian funds such as Singapore\u2019s GIC and Temasek scaled back their investments, a trend that has resulted in an overall decline in state-backed investment compared to 1H 2023.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember, 2023 was a big year for Gulf wealth funds: <\/strong>GlobalSWF named the GCC the \u201c <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/45f8c990-2d5a-4541-bc9c-138900824994\/uae-wealth-funds-spent-usd-36.5-bn-last-year--global%253cmark%253e-swf%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">region of the year<\/a> \u201d on the back of USD 82.3 bn in investment activity in 2023, with assets under management of all GCC funds reaching USD 4.1 tn.<\/p><p class=\"tag-border-left\">MARKETS THIS MORNING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mixed in early trading this morning<\/strong>, with the Hang Seng leading the gainers (+1.5% at dispatch time) after taking yesterday off for a national holiday. The Kospi (-0.5%) leads the decliners. US equities futures were uniformly (but gently) in the red in overnight trading, while futures for major European benchmarks were largely flat. <\/p><p><a target=\"_blank\" id=\"t.92506526f7d37a07889c4911f832ad3b23e8cc82\" 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\">27,970<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +12.4%)<\/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>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 48.21<\/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 48.34<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB<\/strong><strong>)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 48.20<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.30<\/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\">11,659<\/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: -2.6%)<\/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>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\">9,060<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: -5.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,057<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: -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>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\">5,475<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +14.8%)<\/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>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\">8,167<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +5.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,930<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +9.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 86.68<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2.48<\/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\">-4.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,342.10<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+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 63,250.60<\/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\">+2.1% (YTD: +49.7%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 0.7% at yesterday\u2019s close<\/strong> on turnover of EGP 3.4 bn (22.7% below the 90-day average). International investors were the sole net sellers. The index is up 12.4% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>GB Corp (+9.9%), Palm Hills Development (+5.2%), and Juhayna (+4.7%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>AMOC (-2.1%), EFG Holding (-1.6%), and Delta Sugar (-0.9%).<\/p><p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Banque Misr now owns the majority of IDB:<\/strong> State-run lender Banque Misr has increased its stake in the Industrial Development Banque (IDB) to 85.04%, up from just 2%, by increasing the lender\u2019s capital to EGP 5 bn, up from EGP 500 mn, <a target=\"_blank\" href=\"https:\/\/hapijournal.com\/2024\/07\/01\/%d8%a8%d9%86%d9%83-%d9%85%d8%b5%d8%b1-%d9%8a%d9%82%d9%81%d8%b2-%d8%a8%d8%ad%d8%b5%d8%aa%d9%87-%d9%81%d9%8a-%d8%a7%d9%84%d8%aa%d9%86%d9%85%d9%8a%d8%a9-%d8%a7%d9%84%d8%b5%d9%86%d8%a7%d8%b9%d9%8a%d8%a9\/\" style=\"\" rel=\"noopener\">Hapi Journal<\/a> reports, citing courses it describes as informed.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-dhabi-investment-authority\/\">Abu Dhabi Investment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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issue-section\" id=\"628328\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">11<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/egypts-first-carbon-pricing-draft-law-is-almost-here\/\">\r\n                            Egypt\u2019s first carbon pricing draft law is almost here<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/egypts-first-carbon-pricing-draft-law-is-almost-here\/\" 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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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/134.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"134.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/134.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/134.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-628328\" class=\"content-area-description post-628328 goinggreen type-goinggreen status-publish has-post-thumbnail hentry category-going-green tag-carbon-footprint tag-climate tag-enterprise-going-green tag-enterpriseam tag-going-green tag-green-economy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt\u2019s first carbon pricing draft law nears completion:<\/strong> As Egypt looks to keep up with global developments addressing climate change and carbon emissions, the Madbouly cabinet has been working on Egypt\u2019s first ever carbon pricing draft law \u2014 and is now in the final stages of drafting the new legislation, a source in the renewable energy sector told Enterprise. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When to expect the law: <\/strong>The law is set to be finalized before the end of the year, and will be discussed with several key players in the highest carbon-emitting industries before a comprehensive bill is submitted to the House of Representatives, the source said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government currently imposes a tax on carbon emissions from petroleum products<\/strong> <strong>based on quantity<\/strong>, with a fee of EGP 0.25 per liter on fuel, but there is no explicit tax on carbon emissions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Global carbon pricing revenues hit a new record in 2023:<\/strong> Revenues from carbon taxes worldwide reached a record USD 104 bn in 2023, half of which has been used to fund climate-related programs, according to a recent <a target=\"_blank\" href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2024\/05\/21\/global-carbon-pricing-revenues-top-a-record-100-billion\" style=\"\" rel=\"noopener\">World Bank<\/a> report. The report also emphasized the need for integrating more sectors under carbon pricing mechanisms, including international aviation and shipping. There are currently 75 carbon pricing instruments in operation worldwide, according to the report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where Egypt stands: <\/strong>Attempts to implement carbon pricing mechanisms in Egypt have been uneven so far. Carbon credits from the Benban solar power plant have been sold below global prices due to the lack of clear pricing mechanisms. However, Egypt has been working on setting standardized pricing as it looks to adapt carbon pricing instruments currently in use worldwide. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The voluntary carbon market is also set to be launched soon:<\/strong> The trading rules for the soon-to-be-established voluntary carbon market are set to be <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c97e865a-fd8a-4b88-9383-9546964ca6fc\/the-cbe-is-meeting-today-%25e2%2580%2594-analysts-expect-rates-to-remain-unchanged\" style=\"\" rel=\"noopener\">released<\/a> within \u201cthe next few weeks,\u201d Financial Regulatory Authority head Mohamed Farid said in May. The new market will effectively prohibit any entity other than designated bodies from verifying carbon emission reduction projects for registration and trading on Egypt\u2019s carbon credit exchanges. Once launched, the market will be the first voluntary carbon market in Africa, and will allow companies in Egypt and Africa working on emissions-reducing projects to sell certified carbon credits, which can then be bought by other companies wanting to offset their emissions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt stands to benefit from global developments in carbon pricing mechanisms<\/strong>, especially as the EU\u2019s Carbon Border Adjustment Mechanism (CBAM) goes into full effect in 2026, a source from the Finance Ministry told Enterprise. The carbon border tax will make up the difference between the local carbon price \u2014 if there is one \u2014 and the EU\u2019s carbon price, meaning that if Egypt doesn\u2019t tax the carbon on EU-bound imports, the EU will.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EU requirements are already pushing the private sector toward reducing carbon<\/strong> <strong>emissions: <\/strong>The Chamber of Building Materials Industries (CBMI) has been backing the shift toward greater sustainability in the construction materials sector to reduce the industry\u2019s carbon footprint, CBMI head Ahmed Abdel Hamid told Enterprise. The chamber\u2019s efforts include a plan to form joint committees to inspect construction materials factories and implement environmental compliance and recycling measures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s about reducing emissions, not about increasing income:<\/strong> The goal, our source said, is not to achieve higher incomes \u2014 it\u2019s to reduce emissions. Income is expected to decrease as companies successfully reduce harmful emissions or purchase equivalent carbon credits, the source added, saying that a financial impact study projects the collection of roughly EGP 10 bn in the first year of implementing the tax. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re still far from reaching global climate goals \u2014 as well as our own:<\/strong> The Finance Ministry thinks our current approach to climate-related taxation is far off what is needed to reach both global climate goals and Egypt\u2019s goals for 2030, with the current fee insufficient to effect a significant change in our level of emissions, the source said. As a result, restructuring environmental taxes is one of the key elements of the government\u2019s new tax policy and income tax law.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Local brick manufacturers have come a long way:<\/strong> Around 400 of the 500 brick factories currently in operation in Egypt have switched to gas power, with some able to sell carbon credits, Ali Singer, head of the refractories division at the CBMI, previously <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a2cb0877-b428-43e4-be51-b24aa91dc5ac\/building-materials-manufacturers-are-looking-to-boost-compliance-with-eu-environmental-standards\" style=\"\" rel=\"noopener\">told<\/a> Enterprise. The transition to greener production facilities was initiated in 2005 with an EGP 700 mn program \u2014 half of which was funded via a Canadian grant \u2014 to convert 50 factories to gas power, and helped cut emissions by 90%, Singer explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Industries with high consumption are moving toward implementing solar solutions:<\/strong> A key driver behind manufacturers shifting to solar energy are efforts to comply with ESG standards and the ability to market their products as green, with CBAM providing particular motivation for manufacturers, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/51149763-df66-4ee4-bd6f-87a84b7963c7\/why-should-egypt-double-down-on-manufacturing-solar-panels%3F\" style=\"\" rel=\"noopener\">said<\/a> Romany Hakeem, the chairman of Beneshty Solar and vice chairman of Sustainable Energy Development Association. In the near future, cutting emissions will also help local manufacturers make money through carbon credits and tradable certificates representing verified greenhouse gas reductions, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top green economy stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>A fresh renewables target: <\/strong>The Electricity Ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e71493a-fde3-4dfc-b0e9-286632532659\/electricity-bill-hikes-put-on-hold-until-september--electricity-ministry-source\" style=\"\" rel=\"noopener\">wants renewables to make up 58%<\/a> of Egypt\u2019s total energy mix by 2040, up from its current target of 42% by 2030.<\/li>\n<li><strong>Egypt-EU Investment Conference sees a flurry of green agreements: <\/strong>We inked a number of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/am\/2024-07-01\/4\" style=\"\" rel=\"noopener\">green hydrogen agreements<\/a> during the two-day Egypt-EU Investment Conference earlier this week, including a US 15 bn green hydrogen project in the Suez Canal Economic Zone and a EUR 24 bn green hydrogen facility in Gargoub. <\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/carbon-footprint\/\">carbon footprint<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/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=\"628330\" 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\/02\/628330\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-628330\" class=\"content-area-description single-story post-628330 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 style=\"font-weight:400;\">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 style=\"font-weight:400;\">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>3-5 September (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypt-air-show.com\/\" style=\"\">Egypt International Airshow<\/a><\/span><span>, El Alamein International Airport.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 September (Sunday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25-26 September (Wednesday-Thursday): The Asian Infrastructure Investment Bank\u2019s (AIIB) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aiib.org\/en\/news-events\/events\/annual-meetings\/2024\/index.html\" style=\"\">2024 annual meeting<\/a><\/span><span style=\"font-weight:400;\">, Samarkand, Uzbekistan.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 October (Sunday): Armed Forces Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17 October (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-17 October (Sunday-Thursday): Cairo Water Week, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cairowaterweek.eg\/\" style=\"\">Water and Climate: Building Resilient Communities<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-27 October (Monday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.imfconnect.org\/content\/imf\/en\/annual-meetings\/FutureMeetings.html\" style=\"\">The World Bank and IMF annual meetings<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 September (Monday): 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> the World Urban Forum (WUF12).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2024: The launch of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sis.gov.eg\/Story\/192175\/Trial-Operation-of-the-Sokhna-El-Alamein-Matrouh-High-Speed-Train-Starts-by-the-End-of-this-Year?lang=en-us\" style=\"\">high-speed train<\/a><\/span><span style=\"font-weight:400;\"> line linking Ain Sokhna with Al Alamein City. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2024: Shalateen Mining Company to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/74373364-7f95-4157-9090-67ee1584c341\/nuca-to-hand-out-plots-to-four-industrial-developers-within-days.-plus:-news-from-bluev,-tmg,-and-tabreed\" style=\"\">launch a gold exploration tender<\/a><\/span><span style=\"font-weight:400;\"> in the Eastern Desert.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2Q 2025: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad18b775-3e22-4e6b-b4fc-9dd30f4b85ad\/abu-dhabi-ports-to-build-and-run%253cmark%253e-safaga-terminal%253c%2Fmark%253e,-cruise-ship-infrastructure\" style=\"\">Safaga Terminal 2<\/a><\/span><span> to start operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20 January-7 February: Egypt to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f9a5a94-cc1c-4fc1-b8c6-7c02d15cae3b\/ramadan-kareem\" style=\"\">host the African Games<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2027: Trial operations at the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52aa0e65-5b6f-4c84-aa49-70ac4152bb87\" style=\"\">Dabaa nuclear power plant<\/a><\/span><span style=\"font-weight:400;\"> expected to take place.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> 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