{"id":629704,"date":"2024-07-07T00:00:00","date_gmt":"2024-07-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=629704"},"modified":"2025-12-17T11:03:16","modified_gmt":"2025-12-17T11:03:16","slug":"non-oil-private-sector-activity-picks-up-to-its-highest-level-in-three-years","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/non-oil-private-sector-activity-picks-up-to-its-highest-level-in-three-years\/","title":{"rendered":"Non-oil private sector activity picks up to its highest level in three years"},"content":{"rendered":"<section id=\"629706\" 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=\"629706\">\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\/07\/raya-its-long-awaited-ipo-planned-for-october\/\">\r\n                            Raya IT\u2019s long-awaited IPO planned for October                        <\/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\/07\/raya-its-long-awaited-ipo-planned-for-october\/\" target=\"_blank\">\n                    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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/07\/raya-its-long-awaited-ipo-planned-for-october\/1115-jpg-35\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1115.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1115.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1115.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1115.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-629706\" class=\"content-area-description single-story post-629706 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-raya-it tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.a06aa17c-206c-4d40-a412-8de3f954706e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends<\/strong><strong>. <\/strong>Business news at home and abroad is off to a slow start this week. Nevertheless, we\u2019ve got news you can\u2019t afford to miss, with reports of some big-ticket investments from some familiar faces in the pipeline, encouraging data that Egypt\u2019s non-oil private sector is nearing growth after 43 straight months of contraction, and much, much more for you today.<\/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>Raya IT to make its EGX debut in October: <\/strong>Raya Holding will go ahead with its IT arm Raya Information Technology\u2019s long-awaited IPO on the EGX in October, Raya Holding CFO Hossam Hussein, told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/07\/06\/1806647\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The subsidiary\u2019s listing is one of three \u2014 Raya IT, Raya for Trade and Distribution, and Aman Consumer Finance \u2014 that Raya has been putting on hold until market conditions are better suited for the offering, Hussien elaborated. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s coming later than we first heard:<\/strong> The company said <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4828da19-8d9b-4a74-a0c3-28dac99c0258\/\" style=\"\" rel=\"noopener\">in December<\/a> that it plans to offer 30-35% of its IT arm on the bourse in 1H 2024, before <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/56cee642-0a73-4ac2-ac97-1f8bbd61ed21\/%253cmark%253eraya%253c%2Fmark%253e-auto-to-locally-assemble-china%25e2%2580%2599s-xpeng-evs-within-3-years\" style=\"\" rel=\"noopener\">signaling<\/a> that its plans were on hold until the \u201cmarket is ready to accommodate new offerings.\u201d Raya has already wrapped up all of the necessary listing requirements last year, and tapped our friends at EFG Hermes to quarterback the transaction. <\/p><p class=\"tag-border-left\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>The countdown to the long weekend has begun: <\/strong>Public and private sector workers <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a32982d2-a780-4740-9669-17aced583182\/gov%25e2%2580%2599t-clears-usd-1.3-bn-oil-and-gas-arrears\" style=\"\" rel=\"noopener\">will be off<\/a> on Thursday, 11 July, in observance of the Islamic New Year. Banks will be closed on Thursday for the holiday, according to a statement from the central bank seen by Enterprise.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And that includes us folks here at EnterpriseAM Egypt<\/strong>, who will be taking a break from your inboxes this Thursday and will be back bright and early on Sunday with all the local business news and updates from the long weekend.<\/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- <\/strong>It\u2019s another summery day in Cairo today, with a high of 38\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 fair bit cooler in Alexandria and the North Coast<\/strong>, with a high of 31\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\">FX WATCH- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>Bank of America weighs in on the fair value of the EGP: <\/strong>The current USD\/EGP exchange rate is close to the fair value of the EGP, according to a Bank of America report picked up by <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4310362\/-%D8%A8%D9%86%D9%83-%D8%A3%D9%88%D9%81-%D8%A3%D9%85%D9%8A%D8%B1%D9%83%D8%A7-%D8%B3%D8%B9%D8%B1-%D8%B5%D8%B1%D9%81-%D8%A7%D9%84%D8%AC%D9%86%D9%8A%D9%87-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A-%D9%8A%D9%82%D8%AA%D8%B1%D8%A8-%D9%85%D9%86-%D9%82%D9%8A%D9%85%D8%AA%D9%87-%D8%A7%D9%84%D8%B9%D8%A7%D8%AF%D9%84%D8%A9\/?currentUserCountryCode=EG\" style=\"\" rel=\"noopener\">Mubasher<\/a>. The bank sees the EGP strengthening against the greenback over the short term to reflect FX inflows picking up and helping bridge our balance of payments deficit. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The USD <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0dbd8b6a-2edb-437d-b780-8adb3b1b61ec\/cib-halves%253cmark%253e-fx%253c%2Fmark%253e-markup-fees-to-5%2525-and-eases-card-limits-abroad\" style=\"\" rel=\"noopener\">breached<\/a> the EGP 48 level in late June for the first time since April, pressured by a pileup of orders for FX after Egyptian banks closed for the Eid Al Adha break. The EGP has since recovered slightly and is selling just for just over the 48 mark after three consecutive sessions in the green.<\/p><p class=\"tag-border-left\">DATA POINT- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>The recently secured batch of 20 LNG shipments is coming with a price tag of up to USD<\/strong><strong> 910 mn: <\/strong>The 20 LNG shipments state gas firm EGAS secured late last month \u2014 its largest in years \u2014 reportedly cost the state between USD 880-910 mn, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d9%85%d8%b5%d8%a7%d8%af%d8%b1-%d8%ad%d9%83%d9%88%d9%85%d9%8a%d8%a9-%d8%aa%d9%82%d8%af%d8%b1-%d9%82%d9%8a%d9%85%d8%a9-%d8%a3%d9%83%d8%a8%d8%b1-%d8%b5%d9%81%d9%82%d8%a9-%d9%84%d8%a7%d8%b3%d8%aa%d9%8a\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports citing sources it says are in the know. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The suppliers: <\/strong>Saudi Aramco and multinational commodities trader Trafigura were among the winners of the tender, according to Al Mal\u2019s sources added. BP and an East Mediterranean Gas Company subsidiary will each supply five of the shipments, Asharq Business <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6a6ce846-5bb8-4638-ba08-f657afe1960e\/egypt-eu-investment-conference-round-%232\" style=\"\" rel=\"noopener\">reported<\/a> last week, citing two anonymous officials from the Oil Ministry.<\/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\">THE BIG STORY ABROAD-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US presidential election is once again front and center in the global business press<\/strong>, with pressure on Joe Biden to quit the race for the White House <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/07\/06\/us\/politics\/biden-campaign-democrats.html\" style=\"\" rel=\"noopener\">continuing to build<\/a> nine days after his disastrous debate performance against Donald Trump. His first televised post-debate interview over the weekend with ABC News (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=0kpibhlagG0\" style=\"\" rel=\"noopener\">watch, runtime: 31:23<\/a>) failed to quell concerns about his age and ability to secure a second term in the White House, with the Wall Street Journal describing Biden\u2019s defiant tone as <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/elections\/bidens-abc-interview-showed-a-president-in-denial-1b865885?mod=hp_lead_pos8\" style=\"\" rel=\"noopener\">a president in denial<\/a> <strong>.<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Major <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/elections\/the-week-when-big-biden-donors-started-defecting-4c7af9f1?mod=hp_lead_pos7\" style=\"\" rel=\"noopener\">donors<\/a><\/strong><strong>, political strategists, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/elections\/2024\/07\/06\/biden-democrats-presidential-campaign\/\" style=\"\" rel=\"noopener\">elected officials<\/a><\/strong><strong>, and rank-and-file party members are <\/strong><strong>calling on Biden to \u201cpass the torch,\u201d <\/strong>but Biden has knuckled down, telling ABC that only \u201cthe Lord almighty\u201d could <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/07\/05\/us\/politics\/biden-interview-stephanopoulos-abc.html\" style=\"\" rel=\"noopener\">convince him<\/a> to drop out of the race.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The year of elections is continuing to live up to its name elsewhere in the world<\/strong>, with <strong>Iran<\/strong> <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/07\/06\/world\/middleeast\/iran-president-election-takeaways.html\" style=\"\" rel=\"noopener\">electing<\/a> Masoud Pezeshkian to the presidency \u2014 the country first reformist president in <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d1e10d95-68ed-4282-8b3d-44e1c36ea995\" style=\"\" rel=\"noopener\">two decades<\/a>. Over in the <strong>United Kingdom<\/strong>, Keir Starmer has formed a government after a Labour Party <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/politics\/ng-interactive\/2024\/jul\/04\/uk-general-election-results-2024-live-in-full\" style=\"\" rel=\"noopener\">landslide<\/a> that saw the Conservative Party\u2019s worst result in nearly two centuries.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In our corner of the world, a temporary Gaza ceasefire may once again be in reach<\/strong>, after Hamas <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/talks-free-israeli-hostages-start-16-day-period-after-first-phase-hamas-source-2024-07-06\/\" style=\"\" rel=\"noopener\">accepted<\/a> a US proposal to open talks on the release of Israeli hostages and dropped its long-standing demand that Israel agree to a permanent ceasefire before inking any agreement. <strong>Israeli and US delegations are set to arrive in Egypt to discuss a truce<\/strong>, an unnamed high-level government official <a target=\"_blank\" href=\"https:\/\/alqaheranews.net\/news\/86639\/%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%85%D8%B5%D8%B1-%D8%AA%D8%B3%D8%AA%D8%B6%D9%8A%D9%81-%D9%88%D9%81%D9%88%D8%AF%D8%A7-%D8%A5%D8%B3%D8%B1%D8%A7%D8%A6%D9%8A%D9%84%D9%8A%D8%A9-%D9%88%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D9%8A%D8%A9-%D9%84%D9%84%D8%AA%D8%A8%D8%A7%D8%AD%D8%AB-%D8%AD%D9%88%D9%84-%D8%A7%D9%84%D8%AA%D9%87%D8%AF%D8%A6%D8%A9-%D8%A8%D8%BA%D8%B2%D8%A9\" style=\"\" rel=\"noopener\">told<\/a> Al Qahera News.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>With little to no business news in sight this morning, <\/strong>some outlets have picked on how European exports of cognac have allegedly become the <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/retail-consumer\/china-cognac-probe-is-reaction-eu-car-tariffs-says-hennessy-owner-lvmh-2024-07-06\/\" style=\"\" rel=\"noopener\">latest casualty<\/a> in the tit-for-tat trade war between the EU and China, according to comments yesterday from the finance head of luxury goods conglomerate and Hennesy cognac parent company LVMH. The EU\u2019s third largest market for exports announced that it would hold a hearing on an anti-dumping probe into cognac from the bloc on Friday, two days after the bloc <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cy99z53qypko\" style=\"\" rel=\"noopener\">raised tariffs<\/a> on Chinese-made EVs from some manufacturers by up to 38%. <\/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\/raya-it\/\">Raya IT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"629708 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=\"629708\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/07\/629708\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-629708\" class=\"content-area-description single-story post-629708 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\/7\/423.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">DISCOVER SOMABAY: <\/span><span>Embark on a journey of discovery in the heart of Somabay, where <\/span><span style=\"font-weight:400;\">crystal-clear waters meet golden sands and luxury meets serenity. Experience a world of adventure, relaxation, and natural beauty like no other. From thrilling water sports to world-class golf, Somabay offers it all. Explore vibrant coral reefs, unwind in luxurious spas, and savor exquisite cuisine. Your dream destination awaits, where every moment is a discovery.<\/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=\"629709\" 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=\"629709\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/07\/egypts-pmi-picks-up-to-its-highest-level-in-three-years-nears-growth\/\">\r\n                            Egypt\u2019s non-oil private sector sees order volumes rise for the first time in three years as sector nears growth                        <\/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\/07\/egypts-pmi-picks-up-to-its-highest-level-in-three-years-nears-growth\/\" 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 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size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"629710\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/07\/egypts-pmi-picks-up-to-its-highest-level-in-three-years-nears-growth\/450-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/450.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"450.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/450.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/450.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-629709\" class=\"content-area-description single-story post-629709 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-pmi tag-sp 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\/.5b3c5c31-594e-49bc-bc3c-ce57e3e3ccca.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Business activi<\/strong><strong>ty just shy of growth in June:<\/strong> Egypt\u2019s non-oil private sector activity picked up to its highest level in nearly three years in June, with companies seeing a rise in order volumes for the first time in three years due to easing price pressures and stabilizing economic conditions, the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/421.pdf\" style=\"\" rel=\"noopener\">S&amp;P Global\u2019s Egypt Purchasing Managers\u2019 Index (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/421.pdf\" style=\"\" rel=\"noopener\">pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/421.pdf\" style=\"\" rel=\"noopener\">)<\/a> showed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Almost growing: <\/strong><span style=\"background-color: transparent;\">The index edged up to 49.9 in June, up from <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/00137b19-6fbc-49ee-a1f2-1f5ad0b91e46\/egypt%25e2%2580%2599s-non-oil-private-sector-inches-closer-to-growth\" rel=\"noopener\">49.6 in May<\/a><span style=\"background-color: transparent;\">, settling marginally below the 50 threshold that separates growth from contraction \u2014 an indication of \u201cbroadly stable operating conditions at the end of the second quarter.\u201d The reading was the country\u2019s highest in three years and marked the 43rd straight month of Egypt\u2019s non-oil private sector has been in contraction.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Orders are on the up for the first time in 34 months: <\/strong>New orders increased in June for the first time since August 2021. However, the increase was mainly seen in the manufacturing and service sectors, while construction and wholesale and retail reported declines. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Domestic and international demand are both helping drive the trend: <\/strong>The increase in orders was driven by \u201cimproving conditions in both domestic and international markets,\u201d with firms reporting a \u201csharp increase in new export orders in June, the strongest recorded in two-and-a-half years.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Output is also showing signs of recovery: <\/strong>While output levels in the non-oil private sector continued to fall, they did so at their \u201csoftest rate in three years.\u201d Also potentially pointing to a soon-to-come increase in output was input purchases by volume increasing for the first since the end of 2021.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite improvements, business confidence fell to an all time low: <\/strong>Confidence in future activity fell to its lowest seen on record as volatile financial conditions leave firms uncertain about what\u2019s next. This led to many companies cutting their workforces, but overall employment levels remained stable during June as other companies hired new workers in response to rising sales. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story was also picked up by the international press: <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egypts-non-oil-sector-edges-closer-growth-june-pmi-shows-2024-07-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p>\n<p class=\"tag-border-left\">FROM THE REGION-<\/p>\n<ul>\n<li>Saudi Arabia\u2019s PMI slowed to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/286.pdf\" style=\"\" rel=\"noopener\">55.0 in June (pdf)<\/a> from 56.4 in May;<\/li>\n<li>The UAE\u2019s PMI slipped to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/287.pdf\" style=\"\" rel=\"noopener\">54.6 in June (pdf)<\/a> from 55.3 in May;<\/li>\n<li>Kuwait\u2019s PMI inched down to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/432.pdf\" style=\"\" rel=\"noopener\">51.6 in June (pdf)<\/a> from 52.4 in May;<\/li>\n<li>Qatar\u2019s PMI rose to a 23-month high of <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/433.pdf\" style=\"\" rel=\"noopener\">55.9 in June (pdf)<\/a> up from 53.6 in May.<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pmi\/\">PMI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sp\/\">S&amp;P<\/a>\n   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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=\"629712\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Coffee With<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/07\/coffee-with-matteo-patrone-vp-of-banking-at-the-ebrd\/\">\r\n                            Coffee With: Matteo Patrone, VP of banking at the EBRD                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" 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data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/419.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-629712\" class=\"content-area-description single-story post-629712 post type-post status-publish format-standard has-post-thumbnail hentry category-agreements-and-mous-totalling-eur-67-7-bn-inked-at-egypt-eu-investment-conference tag-coffee-with tag-development-finance tag-ebrd tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.60a56890-1de9-41d8-9310-44126a3da8de.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>COFFEE WITH: <\/strong><strong>Matteo P<\/strong><strong>atrone<\/strong><strong>, VP of banking at the EBRD. <\/strong>Last week was a busy one for European investments, with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b44bf694-9410-4f47-beea-46b32a2a5f11\/egypt-inks-eur-67.7-bn-worth-of-agreements-and-mous-at-egypt-eu-investment-conference\" style=\"\" rel=\"noopener\">Egypt hosting the two-day Egypt-EU Investment Conference<\/a>, bringing together over 1k private sector players and government officials from both sides and garnering some EUR bns in investments. The conference shed light on Egyptian-European relations and the long-standing relationship between Egypt and the European Bank for Reconstruction and Development (EBRD). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Fairly new to his position as <\/strong><strong style=\"background-color: transparent;\"><a target=\"_blank\" href=\"https:\/\/www.ebrd.com\/news\/2024\/ebrd-appoints-matteo-patrone-as-vice-president-banking.html#:~:text=EBRD%20appoints%20Matteo%20Patrone%20as%20Vice%20President%2C%20Banking\" rel=\"noopener\">VP of banking<\/a><\/strong><strong style=\"background-color: transparent;\">, Patrone (<\/strong><strong style=\"background-color: transparent;\"><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/matteo-patrone-6b56b1\/\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong style=\"background-color: transparent;\">) touched down in Egypt<\/strong><strong style=\"background-color: transparent;\"> last week \u2014 for his first visit to Egypt in his current post \u2014 to attend the conference. <\/strong><span style=\"background-color: transparent;\">We sat down with him to learn more about his expectations for the conference and whether or not it achieved the desired outcome. We also threw in some questions about the EBRD\u2019s role in the Egyptian economy and what we can expect from the economy moving forward.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Enterprise: What did you walk into the conference expecting to see \u2014 did you have any<\/strong><strong> preconceptions? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Matteo Patrone: <\/strong>The conference, for me, was really the perfect occasion to conduct my introduction to Egypt. This is a country that I visited on a personal basis, but never worked in my time at the EBRD. So having this kind of gathering is a very efficient way of getting to know the people, getting a sense of the strategic direction of the authorities, and getting some input from our partners \u2014 their take on where the country is going and particularly where the economy is going. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Egypt inked some EUR 67.7 bn worth of agreements and MoUs during the conference<\/strong> <strong>\u2014 EUR 49 bn with EU-affiliated entities and EUR 18.7 bn with non EU-affiliated entities. <\/strong><strong>What can the government do to ensure the implementation of these projects?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MP: <\/strong>The government was very clear at the conference about the direction of travel \u2014 higher private sector participation in the economy and in overall investments in the country. So, we are following closely the implementation of the State Ownership Policy and the program on monetising assets, and we are working with different institutions in Egypt \u2014 such as the Sovereign Fund of Egypt \u2014 to assess how the EBRD can support the work being done in this program in a way that delivers higher levels of competitiveness and governance standards.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As <\/strong><strong>I have seen in other markets, predictability and <\/strong><strong>consistency of signals and positive momentum in the reform agenda spur strong interest<\/strong> from major, serious investors \u2014 whether institutional or industrial. We are also following the government\u2019s policies on leveling the playing field for the private sector, which is key for incentivising long-term private investment, and we stand ready to support the government\u2019s various agencies in these efforts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What are the most attractive sectors to EU investors?<\/strong> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MP:<\/strong> Egypt\u2019s demographics and human capital make some sectors highly attractive, for example: agri and food &amp; beverage value chain, healthcare, education, and others. Also, Egypt has a lot of experience and a strong base in manufacturing in some important domestic and export sectors and in the context of nearshoring trends, we see several openings for international \u2014 especially European \u2014 players to have their industrial hubs in Egypt. And of course, as the economy grows \u2014 and the private sector\u2019s share in total investments in the economy grows \u2014 there would be many chances in financial services. There are promising developments here. Fintech has been growing impressively in the past few years. Egypt's energy potential is immense, and I see a major room for growth in green investment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What was the EBRD\u2019s role during the conference?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MP: <\/strong>We signed two concrete transactions with our long-term partner CIB for a total of EUR 60 mn \u2014 one for on-lending to local women-led businesses and the other to fund the green transition. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We will continue investing to that tune of EUR 1-1.5 bn a year in Egypt<\/strong> supporting the real economy with a focus on the green transition, financial inclusion, and supporting competitiveness and resilience. The majority of our investments, 90% last year, are in the private sector. But we also realize that there are some infrastructure investments that enable private sector development that can be conducted only by the state and we stand ready to support them. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: The bank is Egypt\u2019s lead partner on the energy pillar of the Nexus for Water,<\/strong><strong> Food and Energy (NWFE) program \u2014 what does the bank have in the pipeline for our energy sector? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MP: <\/strong>It\u2019s a twofold approach to the energy sector. On one hand, we finance private sector investments in green energy, be it solar or wind, with additional investments in green hydrogen. On the other hand, if we want to increase the presence of renewable energy in the energy mix of the country, we need to make sure that the grid is resilient and is able to dispatch the energy produced by wind farms and solar power plants. That is an investment that only the public sector can do. We are willing to support the government in that area.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Egypt\u2019s new cabinet was <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0921c77b-8d4c-43a9-b1d2-48af03728682\/egypt%25e2%2580%2599s-usd-bonds-top-em-index-as-new-cabinet-sworn-in\" style=\"\" rel=\"noopener\">sworn in last Wednesday<\/a><\/strong><strong> \u2014 what does that mean for the<\/strong><strong> country in terms of its strategic direction? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MP: <\/strong>In the last few months, the macroeconomic situation has stabilized and investor confidence started coming back. So there is positive momentum and I think the new team is clearly tasked to seize that momentum in partnership with the private sector, both local and foreign. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What should the new cabinet prioritize, particularly in terms of private sector<\/strong><strong> partnerships and economic reforms? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MP: <\/strong>I think three areas are critically important: the consolidation of the stabilization of the macroeconomic and macro financial situation in the country, the continuation of the reform agenda, and the privatization of a number of state-owned enterprises. There are a number of openings to be seized together with international partners and foreign direct investors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: The EBRD in May cut our growth forecast for 2024 <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1a1c72c2-9039-4338-8536-937f2d6550c9\/%253cmark%253eebrd-%253c%2Fmark%253eonce-again-slashes-our-growth-forecast-for-2024\" style=\"\" rel=\"noopener\">by 0.6 percentage points to 3.9%<\/a><\/strong><strong>.<\/strong><strong> With the laundry list of decisions taken over the past months \u2014 the float of the EGP, major rate hike, a cap on public spending \u2014 should we expect the EBRD to revise upwards our forecast? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MP:<\/strong> I'm sure our economists are looking at this latest trend and if they see signals that would warrant a revision upwards, they will obviously take that into account. But from my perspective, as a long-time investor in the country, I do not focus on short term revisions of GDP expectations. I am more interested in the long-term sustainable growth of the economy that is underpinned by solid macro financial policies and a credible structural reform agenda which are at the base of an attractive business environment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Macro financial stability is a condition<\/strong> and without it, the growth of GDP cannot be resumed and maintained in a sustainable way. I am sure this is very much at the top of the agenda of the new government in cooperation with international partners such as the EU and the IMF. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Maintenance of the reform agenda<\/strong> is absolutely crucial because it sends a signal of continuity and predictability to foreign direct investors, and this is particularly important at this moment when we have turned the page.<\/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\/coffee-with\/\">Coffee With<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"629714\" 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=\"629714\">\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\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/07\/more-private-sector-involvement-industrial-development-and-transparency-on-the-new-cabinets-agenda\/\">\r\n                            More private sector involvement, industrial development, and transparency on the new Egyptian cabinet\u2019s agenda                        <\/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\/07\/more-private-sector-involvement-industrial-development-and-transparency-on-the-new-cabinets-agenda\/\" target=\"_blank\">\n                    Open in new tab                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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/07\/more-private-sector-involvement-industrial-development-and-transparency-on-the-new-cabinets-agenda\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/448.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"629715\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/07\/more-private-sector-involvement-industrial-development-and-transparency-on-the-new-cabinets-agenda\/448-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/448.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"448.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/448.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/448.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-629714\" class=\"content-area-description single-story post-629714 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-cabinet-watch tag-enterpriseam tag-madbouly-cabinet tag-moustafa-madbouly tag-politics 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\/.91e84e25-5318-4201-b1a3-7cdcfb25f376.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>What can we expect from the new Madbouly cabinet? <\/strong>Prime Minister Moustafa Madbouly held a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/story.php?story_fbid=969585268545227&amp;id=100064812882317&amp;mibextid=WC7FNe&amp;rdid=UM4ptSnQ33ZrjJZ0\" style=\"\" rel=\"noopener\">presser<\/a> on Thursday a day after his <a target=\"_blank\" href=\"https:\/\/www.presidency.eg\/en\/%D9%82%D8%B3%D9%85-%D8%A7%D9%84%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1\/%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1-%D8%B1%D8%A6%D8%A7%D8%B3%D9%8A%D8%A9\/news372024\/\" style=\"\" rel=\"noopener\">ne<\/a><a target=\"_blank\" href=\"https:\/\/www.presidency.eg\/en\/%D9%82%D8%B3%D9%85-%D8%A7%D9%84%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1\/%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1-%D8%B1%D8%A6%D8%A7%D8%B3%D9%8A%D8%A9\/news372024\/\" style=\"\" rel=\"noopener\">w cabinet<\/a> was sworn in and took office. Madbouly\u2019s statement gave us an overview of the new government\u2019s list of priorities and its upcoming plans. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">#1- More private sector involvement: <\/strong><span style=\"background-color: transparent;\">The government aims to increase the private sector\u2019s contribution to the overall economy to more than 65% of total investments over the coming two to three years, Madbouly said. The cabinet will also continue carrying out economic reforms with the aim of increasing foreign direct investment and private sector participation, while reducing the government\u2019s share of total investments in the state.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Industrial development is a matter of \u201clife and death\u201d at the moment<\/strong>, Madbouly said, pointing to the importance of investing in Egypt\u2019s industrial development. He also name-dropped a number of priority sectors that are in need of local and foreign investments \u2014 tourism, real estate development, industry, agriculture, and communications. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- More clarity and transparency: <\/strong>Madbouly will host weekly pressers following the cabinet\u2019s weekly meeting, usually taking place on Wednesdays, to discuss issues concerning the state and the public. The presser will see the government responding to questions and inquiries from citizens. Another presser that will host media figures and experts will be held every month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The first we hear from Kouchouk as FinMin. <\/strong>Ahmed Kouchouk held his <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0piSf1kZmgUzjnJ8tvkHedaLS4EUAfMMh8ZDuWCA1akPrnDwRzzLBnHWGgYZYvvZJl\" style=\"\" rel=\"noopener\">first meeting as<\/a><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0piSf1kZmgUzjnJ8tvkHedaLS4EUAfMMh8ZDuWCA1akPrnDwRzzLBnHWGgYZYvvZJl\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0piSf1kZmgUzjnJ8tvkHedaLS4EUAfMMh8ZDuWCA1akPrnDwRzzLBnHWGgYZYvvZJl\" style=\"\" rel=\"noopener\">Finance Minister<\/a> on Friday, during which he highlighted the need to develop and implement financial policies aimed at boosting investments, productions, exports, and private sector involvement. \u201cWe need to be more open, flexible, and supportive of local and foreign investors to attract more investments and keep the Egyptian economy moving,\u201d he said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cabinet-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madbouly-cabinet\/\">Madbouly Cabinet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/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=\"629716 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=\"629716\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/07\/629716\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-629716\" class=\"content-area-description single-story post-629716 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=\"629717\" 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=\"629717\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/07\/the-nations-talking-heads-focussed-in-on-efforts-to-bring-the-war-in-sudan-to-an-end\/\">\r\n                            The nation\u2019s talking heads focussed in on efforts to bring the war in Sudan to an end                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-image-meta=\"[]\" data-image-title=\"468.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/468.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/468.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-629717\" class=\"content-area-description single-story post-629717 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-commodities tag-enterpriseam tag-health-ministry tag-last-nights-talk-shows tag-middle-east-politics tag-sports tag-supply-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.457f85ca-e3d9-4b76-8719-e5427a519d63.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>It was <\/strong><strong>a mixed bag on the airwaves last night,<\/strong> with the nation\u2019s talking heads focusing on the conference of Sudanese political and civil society figures held in Cairo on Saturday to work towards an end to the war, the health minister\u2019s promise to end meds shortages soon, and the sudden passing of footballer Ahmed Refaat.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A c<\/strong><strong>onfere<\/strong><strong>nce in Cairo to work towards ending the war in Sudan kicked off yesterday, <\/strong>with participation from various political entities, including the UN, African Union, Arab League, and European Union, among other key stakeholders, according to a Foreign Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/795715566071625?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a>. The year-long crisis in Sudan and its repercussions require an immediate and permanent halt to all military operations in the country, to pave the way to a comprehensive political solution that meets the Sudanese people\u2019s hopes, Foreign Minister Badr Abdelatty said. Abdelatty added that any genuine political solution to the crisis in Sudan must be based on a purely Sudanese vision emerging from the Sudanese themselves, without external impositions or pressures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe Sudanese situation is of significant concern to Egyptians and Egypt's national<\/strong><strong> security,\u201d <\/strong>Lamees El Hadidi said on Kelma Akhira (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=K1BrmVjIBGo\" style=\"\" rel=\"noopener\">watch, runtime: 2:37<\/a>). El Hadidi went on to explain that \u201cEgypt is committed to supporting Sudan despite our economic crisis and limited resources\u201d and that \u201cEgypt is rallying international support for Sudan and playing a crucial political role in attempting to bridge the gap and bring together Sudanese political forces.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T<\/strong><strong>he conference<\/strong><strong> received airtime across the channels<\/strong>, with reports from Ala Masouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=KrzoRndIOPI\" style=\"\" rel=\"noopener\">watch, runtime: 8:12<\/a>), Masa DMC (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=r1C6VLqB-Es\" style=\"\" rel=\"noopener\">watch, runtime: 3:07<\/a>), and Al Hayah Al Youm (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=EDCTeMMJl2c\" style=\"\" rel=\"noopener\">watch, runtime: 6:24<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH NOTING- <\/strong><strong>Supply Minister vows to control price<\/strong><strong>s and improve subsidy distribution:<\/strong> \u201cThe first assignment given to me by President Abdel Fattah El Sisi is to control prices and ensure that subsidies reach those who need them,\u201d the recently appointed Supply Minister Sherif Farouk told Ahmed Moussa (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=1Cg1WBd0Y1I\" style=\"\" rel=\"noopener\">watch, runtime: 15:15<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- <\/strong><strong>Meds shortages to end soon?<\/strong> \u201cThe Egyptian Drug Authority and the Egyptian Authority for Unified Procurement have started taking serious steps to address meds shortages and expect to resolve the issue within weeks or at most two months,\u201d Health Minister Khaled Abdel Ghaffar said in a statement aired on Ala Masouleety\u2019s Ahmed Moussa (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=_6WgJACglh8\" style=\"\" rel=\"noopener\">watch, runtime: 3:55<\/a>). \u201cThere is a shortage of meds in the local market, and we are facing challenging and difficult circumstances, with impacts on supply chains both locally and globally,\u201d Abdel Gaffar noted.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- Modern Sport FC\u2019s football<\/strong><strong> player <\/strong><strong>Ahmed Refaat passed away yesterday<\/strong> following a severe deterioration in his health after suffering a heart attack last March. Lamis El Hadidi described the incident as \u201cshocking\u201d and urged the Sports Ministry and all sports federations to conduct regular heart screenings for players (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=W_KrtE9BJpc\" style=\"\" rel=\"noopener\">watch, runtime: 1:05<\/a>). Moussa also covered the tragic incident (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=Oq9eDA3x-hY\" style=\"\" rel=\"noopener\">watch, runtime: 21:24<\/a>), as did Osama Kamal (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=T6ZB_E2Bj_E\" style=\"\" rel=\"noopener\">Masa'a DMC | watch, runtime: 3:46<\/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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health-ministry\/\">Health Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-ministry\/\">Supply Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"629719\" 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=\"629719\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/07\/infinity-power-eye-usd-10-5-bn-in-renewables-ev-infrastructure-investments-over-the-next-five-years-plus-british-international-investment-ezdehar-azimut-flynas\/\">\r\n                            Infinity Power eye USD 10.5 bn in renewables, EV infrastructure investments over the next five years. PLUS: British International Investment, Ezdehar, Azimut, Flynas                        <\/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\/07\/infinity-power-eye-usd-10-5-bn-in-renewables-ev-infrastructure-investments-over-the-next-five-years-plus-british-international-investment-ezdehar-azimut-flynas\/\" 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\/07\/infinity-power-eye-usd-10-5-bn-in-renewables-ev-infrastructure-investments-over-the-next-five-years-plus-british-international-investment-ezdehar-azimut-flynas\/')\">\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\/07\/infinity-power-eye-usd-10-5-bn-in-renewables-ev-infrastructure-investments-over-the-next-five-years-plus-british-international-investment-ezdehar-azimut-flynas\/\">\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=Infinity Power eye USD 10.5 bn in renewables, EV infrastructure investments over the next five years. PLUS: British International Investment, Ezdehar, Azimut, Flynas&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/07\/infinity-power-eye-usd-10-5-bn-in-renewables-ev-infrastructure-investments-over-the-next-five-years-plus-british-international-investment-ezdehar-azimut-flynas\/\">\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\/07\/infinity-power-eye-usd-10-5-bn-in-renewables-ev-infrastructure-investments-over-the-next-five-years-plus-british-international-investment-ezdehar-azimut-flynas\/&title=Infinity Power eye USD 10.5 bn in renewables, EV infrastructure investments over the next five years. PLUS: British International Investment, Ezdehar, Azimut, Flynas\">\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=Infinity+Power+eye+USD+10.5+bn+in+renewables%2C+EV+infrastructure+investments+over+the+next+five+years.+PLUS%3A+British+International+Investment%2C+Ezdehar%2C+Azimut%2C+Flynas+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F07%2F07%2Finfinity-power-eye-usd-10-5-bn-in-renewables-ev-infrastructure-investments-over-the-next-five-years-plus-british-international-investment-ezdehar-azimut-flynas%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\/07\/infinity-power-eye-usd-10-5-bn-in-renewables-ev-infrastructure-investments-over-the-next-five-years-plus-british-international-investment-ezdehar-azimut-flynas\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2769.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"629720\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/07\/infinity-power-eye-usd-10-5-bn-in-renewables-ev-infrastructure-investments-over-the-next-five-years-plus-british-international-investment-ezdehar-azimut-flynas\/2769-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2769.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2769.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2769.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2769.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-629719\" class=\"content-area-description single-story post-629719 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-aviation tag-azimut-egypt-asset-management tag-egypt-uk-relations tag-enterpriseam tag-evs tag-ezdehar tag-fdi tag-fintech tag-infinity tag-infinity-power tag-investment-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.f48db47c-a171-4a20-bb72-9c15c6f7508b.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INVESTMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- Infinity has an ambitious five-year investment plan for Egypt: <\/strong>Our friends at renewable player Infinity Power are planning to invest USD 10.5 bn in Egypt over the next five years, CEO Mohamed Mansour told <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=06072024&id=72e4bfa2-4574-48b3-bd23-61534eb548f6\" style=\"\" rel=\"noopener\">Shorouk News<\/a>. The company plans to finance 30% of the new investments through internal resources, with the remaining 70% sourced from bank loans, Mansour added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wind and solar is the name of the game: <\/strong>The lion\u2019s share of the planned new investments will go towards wind and solar, with USD 10 bn of the total amount set aside for new investments in renewables.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Its EV charging infrastructure is also another priority: <\/strong>Infinity plans to invest USD 500 mn in its electric vehicle charging infrastructure in Egypt over the next five years. As a first step, Infinity will increase the number of charging points from 650 to 1k by the end of the year, serving 10k EVs.<\/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- British International Investment to invest up to USD 200 mn in 2024:<\/strong> The UK government\u2019s <a target=\"_blank\" href=\"https:\/\/www.bii.co.uk\/en\/\" style=\"\" rel=\"noopener\">British International Investment (BII)<\/a> has set aside USD 100-200 mn it plans to invest in Egypt\u2019s financial sector over 2024, whether in banks or consumer finance and payments companies, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d8%b4%d8%b1%d9%83%d8%a9-bii-%d8%a7%d9%84%d8%a8%d8%b1%d9%8a%d8%b7%d8%a7%d9%86%d9%8a%d8%a9-%d8%aa%d8%b9%d8%aa%d8%b2%d9%85-%d8%b6%d8%ae-%d8%aa%d9%85%d9%88%d9%8a%d9%84%d8%a7%d8%aa-%d8%ac%d8%af%d9%8a\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports, citing the development finance institution\u2019s Egypt head <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/72d42f74-2905-45e9-b9fd-581dfc43b878\/bii%25e2%2580%2599s%253cmark%253e-sherine-shohdy%253c%2Fmark%253e-on-investing-in-the-green-transition-%2B-the-vc-ecosystem-for-sustainable-development\" style=\"\" rel=\"noopener\">Sherine Shohdy<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Already in the works:<\/strong> Shohdy told the news outlet that there are several financial institutions currently being considered for financing that starts from USD 20 mn, and goes up depending on the institutions\u2019 size.<\/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- Fresh USD 36 mn investments from Ezdehar into food and industry this year:<\/strong> Egypt-based private equity firm Ezdehar Management is in talks with six unnamed companies operating in the foodstuff sector and in industry over fresh investments totalling USD 36 mn in 2024, Managing Director Amir Mishriky told <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=06072024&id=d2e879b5-1ce5-4846-99e2-4b86997a840b\" style=\"\" rel=\"noopener\">Shorouk News<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ezdehar investments<\/strong><strong> in Egypt this year are already up 140% y-o-y, <\/strong>amounting to USD 60 mn, up from USD 25 mn in 2023, said Mishriky, explaining that \u201cWe currently have investments in nine companies with majority and minority stakes, and we will look into existing some of them next year.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CAPITAL MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Azimut secures FRA license for new investment funds e-platform:<\/strong> Asset manager Azimut has secured a license from the Financial Regulatory Authority (FRA) yesterday to launch Azimut\u2019s in-the-works <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8e263ec4-9e1a-4475-81a2-d8737429a1ca\/\" style=\"\" rel=\"noopener\">electronic platform for investment funds<\/a> dubbed AZ Invest, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/07\/06\/1806582\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports. The platform allows users to invest their money in Azimut-run various investment funds via their phones and other devices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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>From Riyadh to Alamein: <\/strong>Saudi low-cost airline Flynas launched its first flight from Riyadh to Alamein International Airport last Wednesday, becoming the first airline in the region to host scheduled flights to Alamein, the company announced in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/434.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/azimut-egypt-asset-management\/\">Azimut Egypt Asset Management<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-uk-relations\/\">Egypt-UK relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ezdehar\/\">Ezdehar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infinity\/\">Infinity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infinity-power\/\">Infinity Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"629721\" 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=\"629721\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/07\/the-sp-500-is-on-a-tear-and-a-rate-cut-could-fuel-its-run-are-us-megacaps-overvalued\/\">\r\n                            The S&amp;P 500 is on a tear, and a rate cut could fuel its run. Are US megacaps overvalued?                        <\/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\/07\/the-sp-500-is-on-a-tear-and-a-rate-cut-could-fuel-its-run-are-us-megacaps-overvalued\/\" 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\/07\/the-sp-500-is-on-a-tear-and-a-rate-cut-could-fuel-its-run-are-us-megacaps-overvalued\/')\">\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\/07\/the-sp-500-is-on-a-tear-and-a-rate-cut-could-fuel-its-run-are-us-megacaps-overvalued\/\">\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=The S&#038;P 500 is on a tear, and a rate cut could fuel its run. Are US megacaps overvalued?&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/07\/the-sp-500-is-on-a-tear-and-a-rate-cut-could-fuel-its-run-are-us-megacaps-overvalued\/\">\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\/07\/the-sp-500-is-on-a-tear-and-a-rate-cut-could-fuel-its-run-are-us-megacaps-overvalued\/&title=The S&#038;P 500 is on a tear, and a rate cut could fuel its run. 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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/07\/the-sp-500-is-on-a-tear-and-a-rate-cut-could-fuel-its-run-are-us-megacaps-overvalued\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/456.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"629722\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/07\/the-sp-500-is-on-a-tear-and-a-rate-cut-could-fuel-its-run-are-us-megacaps-overvalued\/456-jpg-27\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/456.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"456.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/456.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/456.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-629721\" class=\"content-area-description single-story post-629721 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-planet-finance tag-sp-500 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\/.086b96ef-aad1-4e30-8199-cd65c9b1cd2e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The S&amp;P 500 remains on a tear<\/strong>, unbothered by drama surrounding the US elections: It has posted gains in nine of the last 11 weeks, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-05\/high-priced-s-p-500-powers-ahead-untroubled-by-political-stress?srnd=homepage-middle-east&amp;embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> notes, including 2% last week as a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/us-employment-wage-growth-expected-moderate-june-2024-07-05\/\" style=\"\" rel=\"noopener\">steady<\/a><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/us-employment-wage-growth-expected-moderate-june-2024-07-05\/\" style=\"\" rel=\"noopener\">slowdown<\/a><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/us-employment-wage-growth-expected-moderate-june-2024-07-05\/\" style=\"\" rel=\"noopener\">in the labor market<\/a> boosted expectations the US Federal Reserve could start to cut interest rates as early as September. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">By the numbers: <\/strong><span style=\"background-color: transparent;\">The S&amp;P 500 was up 0.54% on Friday to close at 5,567, while the Nasdaq Composite edged up 0.90% to 18,352.76. Both indexes ended the week at record highs after labor data released on Friday showed US unemployment up slightly at 4.1% \u2014 its highest November 2021.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cooler US jobs data could prompt the Fed to start trimming interest rates in the fall<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/futures-edge-higher-ahead-key-payrolls-data-2024-07-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported. \u201cThis report puts the Fed in a comfortable spot,\u201d said Peter Cardillo, a chief market economist at institutional brokerage firm Spartan Capital Securities. \u201cIf this continues next month, with no increases in hourly wages, then I think we'll see a rate cut in September and another one in December.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>A rate cut will almost-inevitably see investors allocate more capital to equities. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But it may be time to to moderate your expectations for US equities in the coming <\/strong><strong>decade. <\/strong>While valuations are admittedly bad tools to use when trying to time the market, Bloomberg still notes that that the S&amp;P 500 is trading at 26x earnings \u2014 higher than on any single election day as far back as 1990. That suggests \u201cthe elevated state of equities may be reason to lower expectations for their performance under whoever wins the election in November,\u201d it writes. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A decade of \u201cMeh\u201d in the making? <\/strong>\u201cToday\u2019s lofty valuations for US megacaps suggests significant underperformance over the coming decade, and because they make up such a dominant share, returns for the overall US market are also likely to be pretty muted,\u201d Richard Bernstein Advisors\u2019 deputy chief investment officer, Dan Suzuki, told the business information service.<\/p><p><a target=\"_blank\" id=\"t.25ad4edeaf493650d0a092105704e09ea4a44463\" 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\">28,365<\/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: +13.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 47.95<\/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 48.09<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB<\/strong><strong>)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 47.94<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.04<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,659<\/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\">+0.6% (YTD: -2.6%)<\/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>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\">9,139<\/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: -4.6%)<\/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>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\">4,070<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +0.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,567<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +16.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,204<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: +6.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,979<\/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: +10.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 86.54<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.0%<\/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 2.32<\/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\">-4.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,398<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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 58,107.30<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+3.1% (YTD: +37.5%)<\/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 Thursday\u2019s close<\/strong> on turnover of EGP 3.3 bn (24.7% below the 90-day average). Local investors were net buyers. The index is up 13.9% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>ADIB (+3.6%), Juhayna (+3.2%), and Eastern Company (+3.1%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Elsewedy Electric (-3.3%), GB Corp (-2.8%), and Oriental Weavers (-1.8%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sp-500\/\">S&amp;P 500<\/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=\"629723\" 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\/07\/629723\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-629723\" class=\"content-area-description single-story post-629723 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 style=\"font-weight:400;\"> 9-18 July: Act Financial IPO subscription period for institutional investors. <\/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;\">9-23 July: Act Financial IPO subscription period for retail investors. <\/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>11 July (Thursday): National holiday in observance of Islamic New Year.<\/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 style=\"font-weight:400;\">, El Alamein International Airport.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 September (Sunday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25-26 September (Wednesday-Thursday): The Asian Infrastructure Investment Bank\u2019s (AIIB) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aiib.org\/en\/news-events\/events\/annual-meetings\/2024\/index.html\" style=\"\">2024 annual meeting<\/a><\/span><span style=\"font-weight:400;\">, Samarkand, Uzbekistan.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 October (Sunday): Armed Forces Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17 October (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-17 October (Sunday-Thursday): Cairo Water Week, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cairowaterweek.eg\/\" style=\"\">Water and Climate: Building Resilient Communities<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-27 October (Monday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.imfconnect.org\/content\/imf\/en\/annual-meetings\/FutureMeetings.html\" style=\"\">The World Bank and IMF annual meetings<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight: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 style=\"font-weight:400;\"> the World Urban Forum (WUF12).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2024: The launch of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sis.gov.eg\/Story\/192175\/Trial-Operation-of-the-Sokhna-El-Alamein-Matrouh-High-Speed-Train-Starts-by-the-End-of-this-Year?lang=en-us\" style=\"\">high-speed train<\/a><\/span><span style=\"font-weight:400;\"> line linking Ain Sokhna with Al Alamein City. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2024: Shalateen Mining Company to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/74373364-7f95-4157-9090-67ee1584c341\/nuca-to-hand-out-plots-to-four-industrial-developers-within-days.-plus:-news-from-bluev,-tmg,-and-tabreed\" style=\"\">launch a gold exploration tender<\/a><\/span><span style=\"font-weight:400;\"> in the Eastern Desert.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">July 2025: The first operational trail of Egypt-KSA electricity interconnection line.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2Q 2025: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad18b775-3e22-4e6b-b4fc-9dd30f4b85ad\/abu-dhabi-ports-to-build-and-run%253cmark%253e-safaga-terminal%253c%2Fmark%253e,-cruise-ship-infrastructure\" style=\"\">Safaga Terminal 2<\/a><\/span><span> to start operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20 January-7 February: Egypt to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f9a5a94-cc1c-4fc1-b8c6-7c02d15cae3b\/ramadan-kareem\" style=\"\">host the African Games<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2027: Trial operations at the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52aa0e65-5b6f-4c84-aa49-70ac4152bb87\" style=\"\">Dabaa nuclear power plant<\/a><\/span><span style=\"font-weight:400;\"> expected to take place.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Cabinet lays out its priorities | Infinity\u2019s multi USD bn five-year plan | British International eyes financial sector investments | Raya IT sets date for IPO<\/p>\n","protected":false},"featured_media":629705,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-629704","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"c6dd5761-50f1-48ae-b22c-bac1658197c1","teaser":"Cabinet lays out its priorities | Infinity\u2019s multi USD bn five-year plan | British International eyes financial sector investments | Raya IT sets date for IPO","photo_url":"https:\/\/ent.news\/2024\/6\/1751.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Non-oil private sector activity picks up to its highest level in three years - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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