{"id":630544,"date":"2018-04-24T04:14:57","date_gmt":"2018-04-24T04:14:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=630544"},"modified":"2025-12-17T11:34:50","modified_gmt":"2025-12-17T11:34:50","slug":"swvl-closes-egypts-largest-startup-funding-round-yet-careem-announces-major-data-breach","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/swvl-closes-egypts-largest-startup-funding-round-yet-careem-announces-major-data-breach\/","title":{"rendered":"Swvl closes Egypt\u2019s largest startup funding round yet, Careem announces major data breach"},"content":{"rendered":"<section id=\"630546\" 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=\"630546\">\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\/2018\/04\/24\/what-were-tracking-on-24-april-2018\/\">\r\n                            What we\u2019re tracking on 24 April 2018                        <\/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\/2018\/04\/24\/what-were-tracking-on-24-april-2018\/\" 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\/2018\/04\/24\/what-were-tracking-on-24-april-2018\/')\">\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\/2018\/04\/24\/what-were-tracking-on-24-april-2018\/\">\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=What we\u2019re tracking on 24 April 2018&url=https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/what-were-tracking-on-24-april-2018\/\">\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\/2018\/04\/24\/what-were-tracking-on-24-april-2018\/&title=What we\u2019re tracking on 24 April 2018\">\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=What+we%E2%80%99re+tracking+on+24+April+2018+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2018%2F04%2F24%2Fwhat-were-tracking-on-24-april-2018%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\/2018\/04\/24\/what-were-tracking-on-24-april-2018\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-630546\" class=\"content-area-description single-story post-630546 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-enterpriseam tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>The state of government finances, part I:<\/strong> Finance Minister Amr El Garhy is rightfully putting the onus on the Central Bank of Egypt to help reduce the cost of borrowing \u2014 not just for businesses, but for the state, possibly unlocking bns that today goes to debt service and that tomorrow could help provide more government services or reduce the budget deficit. That\u2019s the take-home message from <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-04-23\/falling-rates-prompt-egypt-debt-shift-with-bond-issues-to-jump\">an interview El Garhy gave Bloomberg<\/a> while in Washington, DC, for the IMF and World Bank spring meetings.<\/p><p><strong>What\u2019s going on?<\/strong> \u201cEgypt is considering shifting away from costly short-term domestic debt towards longer-term borrowing, as falling interest rates provide cheaper options to finance its fiscal deficit, according to the nation\u2019s finance minister. It will increasingly rely on five- to seven-year bonds instead of Treasury bills that have shorter maturities and currently make up the bulk of local-currency borrowing.\u201d<\/p><p><strong>Inflation (and CBE action) are the triggers to watch:<\/strong> \u201cWe\u2019re contemplating this but we\u2019re still waiting for better inflation figures and more action from the central bank.\u201d Inflation in the single digits next year, El Garhy said, should \u201cconvince the central bank of taking the interest expense down further.\u201d<\/p><p><strong>The state of government finances, part II: <\/strong>As tempting as it is for journalists and analysts alike to keep hammering at the expenditure side of the government spending equation (what, with subsidy cuts and enhanced spending on health, education, welfare and infrastructure), the business community remains concerned that the Ismail government be tempted to squeeze blood from a stone. A common refrain among business leaders \u2014 from owners of SMEs to c-suite officers at large corporations \u2014 is that the state not just ensure compliance from existing taxpayers, but widen the tax base. The same applies for fees to access government services: Readers should not be alarmed to read that the government is looking to see <strong>revenue from port fees rise by as much as EGP 1.8 bn in the next budget year<\/strong>, as a senior government official told us yesterday. This is likely accounted for by running ports around the clock, fee agreements that bring back major shippers who had walked away from the table in the current year, and an expanded array value-added services, as we\u2019ve recently reported. The government is also raising (or looking to raise) fees for government services including passport issuance, residence visas, and vehicle and gun registration. Expect this to be a theme going forward.<\/p><p><strong>Our friends at Renaissance Capital are holding their third annual Egypt Investor Conference in Cape Town today and tomorrow. <\/strong>Senior management from leading Egyptian companies will meet one-on-one with South Africa-based investors at the gathering. As part of our exclusive coverage of the conference, we interviewed Renaissance Capital MENA CEO Ahmed Badr on his take on Egypt, Saudi Arabia, and the finance industry post-Mifid II. Our talk with Ahmed appears in today\u2019s Spotlight section, below.<\/p><p><strong>The subscription period for retail investors who want a piece of CI Capital\u2019s IPO ends today. <\/strong>The firm\u2019s Mahmoud Attalla was on TV last night talking up the offering. We have more in Last Night\u2019s Talk Shows, below.<\/p><p><strong>Ten people were killed and at least 15 injured in an attack on pedestrians in Canada. <\/strong>A long suspect drove a white rental van across sidewalks in Toronto in an overnight attack that borrows from the terrorist playbook, but that police have so far said does not appear to have been directly related to Islamist terrorism. The home pages of the <a href=\"https:\/\/www.theglobeandmail.com\/canada\/toronto\/article-injuries-reported-after-van-hits-people-in-north-toronto\/\">Globe and Mail<\/a> and <a href=\"http:\/\/www.cbc.ca\/news\/canada\/toronto\/pedestrians-struck-white-van-1.4631564\">Canada\u2019s CBC<\/a> have more, and the story is front-page news in the business press globally (<a href=\"https:\/\/www.wsj.com\/articles\/van-strikes-pedestrians-in-toronto-1524508659\">Wall Street Journal<\/a> | <a href=\"https:\/\/www.ft.com\/content\/e1d68f44-4738-11e8-8ee8-cae73aab7ccb\">Financial Times<\/a> | <a href=\"https:\/\/www.cnbc.com\/2018\/04\/23\/van-hits-at-least-8-people-in-toronto-canadian-police-say.html\">CNBC<\/a> | <a href=\"https:\/\/www.reuters.com\/article\/us-canada-van\/driver-kills-10-injures-15-plowing-van-into-toronto-sidewalk-crowd-idUSKBN1HU2IY\">Reuters<\/a>).<\/p><p><strong>It\u2019s earnings season in Amreeka: <\/strong>Facebook, Google, Boeing, and Chevron are among those expected to post this week \u201ctheir strongest first-quarter profit gains in seven years at around 20%,\u201d <a href=\"https:\/\/www.reuters.com\/article\/us-global-markets\/u-s-debt-deluge-lifts-bond-yields-to-four-year-high-asia-stocks-down-idUSKBN1HV01Z\">according to Reuters<\/a>, which notes that stock performance was muted yesterday ahead of the expected string of earnings reports.<\/p><p><strong>Emerging markets assets are being pressured by rising borrowing costs in the US and the sustained performance of the USD against other currencies.<\/strong> \u201cEquities and currencies [are] down more than 1% and on track for their biggest one-day drops in at least weeks,\u201d Peter Wells <a href=\"https:\/\/www.ft.com\/content\/a50a1f92-471d-11e8-8ee8-cae73aab7ccb\">writes for the Financial Times<\/a>. \u201cHigher US yields also make EM assets less attractive for investors and often prompt investors to rotate some of their holdings back into USD-denominated assets.\u201d<\/p><p><strong>Dress like a bn\u2019aire:<\/strong> Season three of Bns, one of our favourite TV shows and the best-ever about finance, \u201cmasterfully captures the changing dress code of the finance world.\u201d (<a href=\"https:\/\/www.wsj.com\/articles\/how-to-dress-like-a-billionaire-1524490019\">WSJ<\/a>)<\/p><p><strong>Selfie-taking monkeys do not own the intellectual property rights to the images they take<\/strong>, a US appeals court has ruled. (<a href=\"https:\/\/www.wsj.com\/articles\/copyright-protection-for-monkey-selfie-rejected-by-u-s-appeals-court-1524526086\">WSJ<\/a>).<\/p><p><strong>PSA- Expect stronger-than-usual winds and \u201cunstable weather\u201d today <\/strong>in Cairo, North Sinai and the northern cities of Upper Egypt, the <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/298213\/Egypt\/Politics-\/Rain,-unstable-weather-across-Egypt-on-Tuesday.aspx\">national weather service<\/a> warns.<\/p><p><strong>PSA- YOU DON\u2019T NEED TO GO TO WORK TOMORROW.<\/strong> Pardon our shouting. Banks and <a href=\"http:\/\/www.egx.com.eg\/English\/trading_calendar.aspx\">the EGX<\/a>will be closed tomorrow in observance of Sinai Liberation Day. Enterprise is also taking the day off, and we\u2019ll be back on Thursday at our usual time.<\/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\/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=\"630547\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-k7sfylz\" data-v=\"4\" data-block-id=\"k7sfylz\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-k7sfylz-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-k7sfylz-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-poh3hrf\" data-v=\"4\" data-block-id=\"poh3hrf\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-poh3hrf-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-poh3hrf-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-i3c4fh2\" data-v=\"4\" data-block-id=\"i3c4fh2\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-i3c4fh2-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-i3c4fh2-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-myh5g3j\" data-v=\"4\" data-block-id=\"myh5g3j\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-myh5g3j-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-myh5g3j-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"630548\" 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=\"630548\">\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\">What We\u2019re Tracking This Week<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/what-were-tracking-this-week-41\/\">\r\n                            What we\u2019re tracking this week                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/what-were-tracking-this-week-41\/\" 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\/2018\/04\/24\/what-were-tracking-this-week-41\/')\">\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\/2018\/04\/24\/what-were-tracking-this-week-41\/\">\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=What we\u2019re tracking this week&url=https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/what-were-tracking-this-week-41\/\">\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\/2018\/04\/24\/what-were-tracking-this-week-41\/&title=What we\u2019re tracking this week\">\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=What+we%E2%80%99re+tracking+this+week+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2018%2F04%2F24%2Fwhat-were-tracking-this-week-41%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\/2018\/04\/24\/what-were-tracking-this-week-41\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-630548\" class=\"content-area-description single-story post-630548 post type-post status-publish format-standard hentry category-what-were-tracking-this-week tag-enterpriseam tag-what-were-tracking-this-week wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>EXCLUSIVE- Egypt and Saudi Arabia are expected to sign contracts for their USD 1.6 bn electricity interconnection project \u201cwithin days,\u201d <\/strong>a senior government official told us yesterday. Egypt has completed all the necessary prep work for the project, which should see the two countries exchange up to 3 GW of power, but the Saudi side has yet to set a date for the signing, sources also told us yesterday. Egyptian Electricity Transmission Company boss Gamal Abdel Rehim <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/18\/egypt-saudi-to-sign-electricity-interconnection-project-contracts-in-june\/\">said last week<\/a> that the contracts would be signed in June.<\/p>\n<p><strong>LEGISLATION WATCH- The Ismail Cabinet could sign off on the <\/strong><a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/19\/draft-of-universal-healthcare-act-regs-with-cabinet\/\"><strong>executive regulations<\/strong><\/a><strong> to the Universal Healthcare Act as early as the end of the week, <\/strong>Health Minister Ahmed Rady <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/22\/healthcare-regs-could-be-out-by-weeks-end-lamees-and-amr-call-for-middle-class-protection\/\">said on Sunday<\/a>. Al Ahram claims to have obtained a <a href=\"http:\/\/www.ahram.org.eg\/News\/202626\/5\/648056\/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF\/%C2%AB%D8%A7%D9%84%D8%A3%D9%87%D8%B1%D8%A7%D9%85%C2%BB-%D8%AA%D9%86%D8%B4%D8%B1-%D8%A3%D9%87%D9%85-%D9%85%D9%84%D8%A7%D9%85%D8%AD-%D8%A7%D9%84%D9%84%D8%A7%D8%A6%D8%AD%D8%A9-%D8%A7%D9%84%D8%AA%D9%86%D9%81%D9%8A%D8%B0%D9%8A%D8%A9-%D9%84%D9%82%D8%A7%D9%86%D9%88%D9%86-.aspx\">leaked copy of the regs<\/a> \u2014 which will set out prices for private healthcare under the act and regulate the <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/05\/executive-regs-of-the-universal-healthcare-act-will-make-clear-the-insurance-sectors-role-in-new-system\/\">role of private insurance companies<\/a>. The regs should be followed by an announcement with details on the three new healthcare regulators that are being established under the new law, which should go into effect as of July in Canal governorates and expand to cover the rest of the country over the coming 15 years.<\/p>\n<p><strong>Also on the legislative front: <\/strong>The Housing Committee is expected to begin \u201cwithin days\u201d hearings on amendments to the legislation governing rent control. The House Planning and Budgeting Committee was supposed to complete its review of the proposed <strong>Auctions and Tenders<\/strong> Act yesterday, but we\u2019ve heard nothing yet.<\/p>\n<p><strong>A Russian delegation is visiting Egypt later this week to resume talks on a Russian industrial zone <\/strong>in the Suez Canal Economic Zone (SCZone) that could attract investments worth as much as USD 7 bn, SCZone chief Mohab Mamish announced yesterday, according to <a href=\"https:\/\/dbonfrdgauzmg.cloudfront.net\/news\/details\/1284100\">Al Masry Al Youm<\/a>. Contracts for the zone could be signed \u201csoon,\u201d Mamish added. Talks on the RIZ \u2014 which had initially been announced in 2014 \u2014 ground to a halt last summer, have been back on since October.<\/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\/what-were-tracking-this-week\/\">What We\u2019re Tracking This Week<\/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=\"630549\" 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=\"630549\">\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\">ON THE HORIZON<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/on-the-horizon-53\/\">\r\n                            On the horizon                        <\/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\/2018\/04\/24\/on-the-horizon-53\/\" 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\/2018\/04\/24\/on-the-horizon-53\/')\">\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\/2018\/04\/24\/on-the-horizon-53\/\">\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=On the horizon&url=https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/on-the-horizon-53\/\">\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\/2018\/04\/24\/on-the-horizon-53\/&title=On the horizon\">\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=On+the+horizon+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2018%2F04%2F24%2Fon-the-horizon-53%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\/2018\/04\/24\/on-the-horizon-53\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-630549\" class=\"content-area-description single-story post-630549 post type-post status-publish format-standard hentry category-on-the-horizon tag-enterpriseam tag-on-the-horizon wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>French foreign minister Jean-Yves Le Drian is due in Cairo<\/strong> before the end of the month.<\/p>\n<p><strong>EU foreign policy chief Federica Mogherini is set to visit Cairo<\/strong> on Monday, 30 April. She\u2019s expected to sign a number of cooperation agreements.<\/p>\n<p><strong>Uber \/ Careem appeals scheduled: <\/strong>The Supreme Administrative Court has postponed to Saturday, 28 April a hearing on an appeal by Uber and Careem of a lower court decision that ordered the two companies to suspend operations. The Administrative Court has scheduled a separate hearing for 15 May. The two companies continue to operate under a Court of Urgent Matters ruling suspending the initial suspension.<\/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\/on-the-horizon\/\">ON THE HORIZON<\/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=\"630550\" 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=\"630550\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/ci-capital-ipo-fines-for-harassing-tourists-military-denounces-hrw-report-on-north-sinai\/\">\r\n                            CI Capital IPO, fines for harassing tourists, military denounces HRW report on North Sinai                        <\/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\/2018\/04\/24\/ci-capital-ipo-fines-for-harassing-tourists-military-denounces-hrw-report-on-north-sinai\/\" 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\/2018\/04\/24\/ci-capital-ipo-fines-for-harassing-tourists-military-denounces-hrw-report-on-north-sinai\/')\">\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\/2018\/04\/24\/ci-capital-ipo-fines-for-harassing-tourists-military-denounces-hrw-report-on-north-sinai\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=CI Capital IPO, fines for harassing tourists, military denounces HRW report on North Sinai&url=https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/ci-capital-ipo-fines-for-harassing-tourists-military-denounces-hrw-report-on-north-sinai\/\">\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\/2018\/04\/24\/ci-capital-ipo-fines-for-harassing-tourists-military-denounces-hrw-report-on-north-sinai\/&title=CI Capital IPO, fines for harassing tourists, military denounces HRW report on North Sinai\">\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=CI+Capital+IPO%2C+fines+for+harassing+tourists%2C+military+denounces+HRW+report+on+North+Sinai+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2018%2F04%2F24%2Fci-capital-ipo-fines-for-harassing-tourists-military-denounces-hrw-report-on-north-sinai%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\/2018\/04\/24\/ci-capital-ipo-fines-for-harassing-tourists-military-denounces-hrw-report-on-north-sinai\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-630550\" class=\"content-area-description single-story post-630550 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-enterprise-last-nights-talk-shows tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The airwaves offered up a mixed bag of nuts last night, <\/strong>which included CI Capital\u2019s IPO, a new anti-tourist harassment law, and a Human Rights Watch report claiming North Sinai residents are in need of urgent aid.<\/p>\n<p><strong>Subscription for the retail offering of CI Capital\u2019s IPO closes today,<\/strong> CI Capital Chairman Mahmoud Atallah reminded Hona Al Asema\u2019s Lamees Al Hadidi. Atallah said that favorable economic conditions encouraged the company to follow through with its initial public offering this month, adding that the institutional tranche of the offering was more than 6x oversubscribed. The company had <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/22\/ci-capital-ipos-institutional-offering-6-1x-oversubscribed-share-priced-in-at-egp-7-70-trading-to-begin-on-30-april\/\">priced the share in<\/a> at EGP 7.70. Trading should start on 30 April (<a href=\"https:\/\/www.youtube.com\/watch?v=LfiLoPzsx2I\">watch, runtime: 1:41:43<\/a>).<\/p>\n<p><strong>Anyone caught harassing a tourist will face a fine of up to EGP 10,000: <\/strong>The House of Representatives approved yesterday to legislative amendments that imposes penalties of EGP 3,000-10,000 on anyone who \u201charasses tourists or visitors of archaeological sites or museums. The amendments <a href=\"https:\/\/www.egypttoday.com\/Article\/1\/48499\/Egypt-to-impose-LE-10-000-fine-on-those-harassing\">define harassment in a list of activities<\/a> that includes, but is not limited to promoting, offering, or selling any good or service to tourists (presumably without a permit to do so), and also begging. The House also gave a preliminary nod to amendments that impose harsher penalties of up to life in prison and fines ranging between EGP 1-10 mn for the smuggling, looting, or damaging of Egyptian artefacts, <a href=\"http:\/\/www.ahram.org.eg\/News\/202626\/136\/648138\/%D9%85%D8%AA%D8%A7%D8%A8%D8%B9%D8%A7%D8%AA\/%D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86-%D9%8A%D9%88%D8%A7%D9%81%D9%82-%D8%B9%D9%84%D9%89-%D9%85%D8%B4%D8%B1%D9%88%D8%B9-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%AD%D9%85%D8%A7%D9%8A%D8%A9-%D8%A7%D9%84%D8%A2%D8%AB%D8%A7%D8%B1---%D8%A7%D9%84%D8%B3%D8%AC%D9%86.aspx\">Ahram Gate reports<\/a>.<\/p>\n<p><strong>The amendments were necessary since harassment of tourists drives visitors away from Egypt, <\/strong>said the Secretary-General of the Supreme Council of Antiquities, Mostafa El Waziri, on Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=aM7X7qFFwvk\">watch, runtime: 5:39<\/a>). They are, however, not enough, according to Egypt\u2019s self-proclaimed Indiana Jones Zahi Hawass, who said that tourist harassment should be punishable with prison sentences (<a href=\"https:\/\/www.youtube.com\/watch?v=88LO0N22XLs\">watch, runtime: 4:29<\/a>).<\/p>\n<p><strong>Egypt is once again in the spotlight on human rights <\/strong>following <a href=\"https:\/\/www.hrw.org\/news\/2018\/04\/23\/egypt-looming-humanitarian-crisis-sinai\">a Human Rights Watch report<\/a> claiming the military campaign to root out Daesh in North Sinai has stopped essential goods from reaching 420k residents in four northeastern cities. Armed Forces spokesperson Tamer El Refai dismissed the report, calling it untrue and based on \u201cflawed sources\u201d in a <a href=\"https:\/\/www.youm7.com\/story\/2018\/4\/23\/%D8%A7%D9%84%D9%85%D8%AA%D8%AD%D8%AF%D8%AB-%D8%A7%D9%84%D8%B9%D8%B3%D9%83%D8%B1%D9%89-%D9%8A%D8%B3%D8%AA%D9%86%D9%83%D8%B1-%D8%AA%D9%82%D8%B1%D9%8A%D8%B1-%D9%87%D9%8A%D9%88%D9%85%D8%A7%D9%86-%D8%B1%D8%A7%D9%8A%D8%AA%D8%B3-%D9%88%D9%8A%D8%A4%D9%83%D8%AF-%D8%A7%D9%84%D8%B3%D9%84%D8%B9-%D9%85%D8%AA%D9%88%D9%81%D8%B1%D8%A9-%D9%84%D8%A3%D9%87%D8%A7%D9%84%D9%89\/3760450\">statement to Youm7 on Monday<\/a>.<\/p>\n<p><strong>Supply Minister Ali El Moselhy also reaffirmed that North Sinai residents have full access to food commodities and other essential goods<\/strong>. He told Lamees that some goods were in short supply early on in the campaign, but that close coordination between the ministry and Armed Forces quickly plugged the gap (<a href=\"https:\/\/www.youtube.com\/watch?v=Pdb89tpFMrc\">watch, runtime: 9:43<\/a>). The report, however, is naturally receiving widespread coverage from a foreign press hungry to air any dirt on Egypt, <a href=\"https:\/\/www.theguardian.com\/world\/2018\/apr\/23\/egyptian-citizens-under-siege-anti-isis-military-operation\">including from the Guardian<\/a>.<\/p>\n<p>Meanwhile, <strong>Lamees dove into the legal aspects of a marriage between Egypt\u2019s smaller political parties under the Support Egypt Coalition<\/strong> (parliament\u2019s majority bloc) with legal expert Shawki El Sayed (<a href=\"https:\/\/www.youtube.com\/watch?v=-XNNzpJwMBM\">watch here, runtime: 3:57<\/a> and <a href=\"https:\/\/www.facebook.com\/cbc.HonaAl3asema\/videos\/1752403854822622\/\">here, runtime: 6:10<\/a>). While Labor Minister Mohamed Saafan spoke to Al Hayah Al Youm\u2019s Khaled Abu Bakr about progress on government efforts to register seasonal, private-sector workers (<a href=\"https:\/\/www.youtube.com\/watch?v=5s2jlvEbtpE\">watch, runtime: 8:28<\/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\/enterprise-last-nights-talk-shows\/\">Enterprise+: Last Night\u2019s Talk Shows<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"630551\" 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=\"630551\">\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\">Speed Round<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/egypt-could-get-as-much-as-eur-3-8-bn-from-the-eu-under-2018-2022-energy-cooperation-agreement\/\">\r\n                            Egypt could get as much as EUR 3.8 bn from the EU under 2018-2022 energy cooperation agreement                        <\/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\/2018\/04\/24\/egypt-could-get-as-much-as-eur-3-8-bn-from-the-eu-under-2018-2022-energy-cooperation-agreement\/\" 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\/2018\/04\/24\/egypt-could-get-as-much-as-eur-3-8-bn-from-the-eu-under-2018-2022-energy-cooperation-agreement\/')\">\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\/2018\/04\/24\/egypt-could-get-as-much-as-eur-3-8-bn-from-the-eu-under-2018-2022-energy-cooperation-agreement\/\">\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=Egypt could get as much as EUR 3.8 bn from the EU under 2018-2022 energy cooperation agreement&url=https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/egypt-could-get-as-much-as-eur-3-8-bn-from-the-eu-under-2018-2022-energy-cooperation-agreement\/\">\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\/2018\/04\/24\/egypt-could-get-as-much-as-eur-3-8-bn-from-the-eu-under-2018-2022-energy-cooperation-agreement\/&title=Egypt could get as much as EUR 3.8 bn from the EU under 2018-2022 energy cooperation agreement\">\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=Egypt+could+get+as+much+as+EUR+3.8+bn+from+the+EU+under+2018-2022+energy+cooperation+agreement+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2018%2F04%2F24%2Fegypt-could-get-as-much-as-eur-3-8-bn-from-the-eu-under-2018-2022-energy-cooperation-agreement%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\/2018\/04\/24\/egypt-could-get-as-much-as-eur-3-8-bn-from-the-eu-under-2018-2022-energy-cooperation-agreement\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-630551\" class=\"content-area-description single-story post-630551 post type-post status-publish format-standard hentry category-speed-round tag-enterpriseam tag-speed-round wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>EU could provide as much as EUR 3.8 bn in financing to help Egypt transform into regional energy hub as two sides ink energy cooperation agreement: <\/strong>Egypt and the European Union signed a memorandum of understanding on energy cooperation yesterday that is widely expected to pave the way for Egypt to become a gas export hub to Europe. Under the four-year agreement \u2014 which covers cooperation on electricity, as well as oil and gas \u2014 the EU and Egypt will work together to help the country realize its goal of becoming a regional hub for LNG exports through continued support and the adoption of new energy efficiency strategies, <a href=\"https:\/\/eeas.europa.eu\/delegations\/egypt\/43377\/eu-egypt-energy-dialogue_en\">the EU and Egypt said in a joint release<\/a>. Egypt could receive as much as <strong>EUR 3.8 bn in funding for energy projects,<\/strong> EU Energy Commissioner Miguel Arias Ca\u00f1ete told the press yesterday, <a href=\"https:\/\/dbonfrdgauzmg.cloudfront.net\/news\/details\/1284134\">Al Masry Al Youm reports<\/a>.<\/p>\n<p><strong>Egypt becomes part of EU energy security framework: <\/strong>The EU will also provide Egypt with support on renewable energy through \u201ctechnological, scientific, and industrial cooperation\u2026 [as it] recognizes Egypt\u2019s active participation in the ongoing Euro-Mediterranean energy cooperation and the country\u2019s growing pivotal role in energy supply and transit to the Euro-Mediterranean energy market,\u201d the statement said, adding that the agreement will \u201ccontribute to fulfilling the EU's strategic objectives to enhance security of supply and diversification.\u201d<\/p>\n<p><strong>Background:<\/strong> The agreement was signed during <a href=\"https:\/\/enterprise.press\/issues\/2018\/04\/22\/egypt-eu-cozy-cairo-looks-cement-position-regional-energy-hub\/#tldr-story-02\">Ca\u00f1ete\u2019s visit to Cairo<\/a>, which wraps up today, during which he has been meeting with top state officials, including President Abdel Fattah El Sisi, and the heads of European oil majors in Egypt to discuss ways to further boost energy cooperation. Energy cooperation talks with the EU had started in December, after Cairo reached a preliminary agreement with Nicosia to <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/12\/egypt-and-cyprus-likely-to-build-underwater-pipeline-to-move-gas-between-them\/\">establish a pipeline<\/a> connecting the Cypriot Aphrodite field to one of Egypt\u2019s liquefaction plants in Idku or Damietta for re-export to Europe. Egypt\u2019s Dolphinus Holdings has also signed a <a href=\"https:\/\/enterprise.press\/stories\/2018\/03\/14\/egypts-usd-15-bn-gas-import-agreement-unlocked-east-med-to-ep-majors\/\">similar-style agreement with Israel<\/a> worth USD 15 bn. The EU has extended Egypt EUR 300 mn in energy support grants so far, according to an <a href=\"http:\/\/almalnews.com\/Story\/373659\/59\/%D8%A7%D9%84%D8%A7%D8%AA%D8%AD%D8%A7%D8%AF-%D8%A7%D9%84%D8%A3%D9%88%D8%B1%D9%88%D8%A8%D9%8A-300-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D9%8A%D9%88%D8%B1%D9%88-%D9%85%D9%86%D8%AD%D8%A7-%D9%84%D9%85%D8%B5%D8%B1-%D9%81%D9%89-%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9\">EU handout picked up by Al Mal<\/a>. Oil Minister Tarek El Molla <a href=\"https:\/\/enterprise.press\/stories\/2018\/01\/16\/egypts-role-indispensible-in-developing-east-med-gas-hub-butler\/\">had previously said<\/a> that Egypt would be ready to export natural gas by year\u2019s end, once new fields, including the supergiant Zohr, begin feeding more output into the grid.<\/p>\n<p><strong>Egypt is ready to become an LNG exporter, <\/strong>Qalaa Holding Founder and Chairman Ahmed Heikal <a href=\"https:\/\/www.cnbc.com\/2018\/04\/23\/egypt-is-ready-to-be-an-energy-hub-qalaa-holdings-heikal.html\">tells CNBC<\/a>, citing new gas discoveries as well as Egypt\u2019s liquefaction capacities as proof to investors that \u201cEgypt is ready to perform a very important role as a hub for energy, especially gas exports.\u201d El Molla had <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/23\/egypt-looks-to-attract-usd-10-bn-in-new-foreign-investment-in-oil-and-gas-sector-for-next-budget-year\/\">said on Sunday<\/a> that Egypt was looking to attract as much as USD 10 bn in new foreign investments in the oil and gas sector in FY2018-19.<\/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\/speed-round\/\">SPEED ROUND<\/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=\"630564\" 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=\"630564\">\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\">Spotlight<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/our-sit-down-with-ahmed-badr\/\">\r\n                            Our sit down with Ahmed Badr                        <\/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\/2018\/04\/24\/our-sit-down-with-ahmed-badr\/\" 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\/2018\/04\/24\/our-sit-down-with-ahmed-badr\/')\">\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\/2018\/04\/24\/our-sit-down-with-ahmed-badr\/\">\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=Our sit down with Ahmed Badr&url=https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/our-sit-down-with-ahmed-badr\/\">\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\/2018\/04\/24\/our-sit-down-with-ahmed-badr\/&title=Our sit down with Ahmed Badr\">\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=Our+sit+down+with+Ahmed+Badr+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2018%2F04%2F24%2Four-sit-down-with-ahmed-badr%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\/2018\/04\/24\/our-sit-down-with-ahmed-badr\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2018\/4\/179.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"630565\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/our-sit-down-with-ahmed-badr\/179-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2018\/4\/179.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"179.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2018\/4\/179.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2018\/4\/179.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-630564\" class=\"content-area-description single-story post-630564 post type-post status-publish format-standard has-post-thumbnail hentry category-spotlight tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <i>We spoke yesterday with <strong>Renaissance Capital MENA CEO Ahmed Badr<\/strong> ahead of his Egypt conference in South Africa, picking his brain on the essentials of Egypt, Saudi Arabia, and the finance industry post-Mifid II. Edited excerpts:<\/i><\/p>\n<p><strong>Fear not the flight of the carry trade: <\/strong>We think the central bank will cut another 200-300 bps between now and the end of the year. There is no need to be too concerned about losing the carry trade, which is still going to stay. When looking at yields in the bond market anywhere in the world, there aren't many attractive opportunities. Even with the cuts, Egypt still attractive for fixed income investors. Obviously, we will reach a point when the carry trade will fade away, something even the government would welcome at some point. We think it's all about a shift from the \u201chot money\u201d (an accurate term in my mind) and portfolio investors who are buying T-bills or just parking money in whatever instrument there is available, towards equities and FDI. We're in that transitional phase now, which is key and positive provided that there is an attractive landscape for investors, local or foreign.<\/p>\n<p><strong>Is Egypt ringing out among investors on the strategic level?<\/strong> Indeed. There\u2019s a lot of interest from clients who have never looked at Egypt before. As a matter of fact, we're hosting a large group of investors in Cairo in the next few weeks.<\/p>\n<p><strong>And this interest is across the board.<\/strong> Banks are still very attractive. Everyone favors them, even though they are very conventional. We're also seeing a lot of interest in the consumer sector \u2014 a call we made back in January 2017 when we said consumer companies would do better than people think thanks to the sheer size of the informal economy. Healthcare is garnering interest, even though it still presents regulatory challenges for foreign investors. Nonetheless, South African healthcare investors are attending our annual Egypt investor conference for the first time in two years. The next-best-thing is education, even though it is similarly challenging for foreign investors because of the regulatory environment. We don\u2019t see education taking off this year, but it could in 2019.<\/p>\n<p><strong>A real estate bull growing quiet?<\/strong> Everyone has been bullish on real estate for a long time now, and I was among them for a long time. I\u2019m not so much now. It will do well in the short-term as interest rates come down and people move their cash into properties. However, I\u2019m getting concerned because, over the past 10 years, people have been moving their money out of banks and into properties, driving up prices to a point where people \u2014 investors, not people owning to live in the properties \u2014 probably already own more than they can afford. There remains genuine demand, but the prices have pushed the market towards investors rather than homeowners.<\/p>\n<p><strong>An alarming trend: <\/strong>I\u2019m also finding the way many of the smaller developers are pushing payment terms over eight and 10 years quite alarming. We won\u2019t see a crash in prices as the Egyptian market is a cash market. What ends up happening when there\u2019s a sign of a bubble in this type of landscape is that transactions dry up completely. I see these starting to dry up over the next 12 months. So share performance is likely to be strong in the short term, but in the long run I see the sector struggling. That's why transactions such as the potential merger of Madinet Nasr for Housing & Development and SODIC makes a lot of sense for both sides.<\/p>\n<p><strong>Why Ahmed doesn\u2019t like cement: <\/strong>One industry we do not favor is cement, and it comes down to the glut in the market. Even with the real estate boom, it\u2019s in oversupply, and this is driving some foreign companies to consider exiting. This is not to mention the fact that our traditional regional export markets have fallen on hard times.<\/p>\n<p><strong>The 2018 MENA trade: Out of UAE and Qatar and into Egypt KSA: <\/strong>From a regional perspective, Egypt and Saudi Arabia are the only two markets that I favor and believe they will actually do well in the whole of MENA. They're the only reform stories in the region at the moment, and they're both long-term. I'm not bullish on Qatar or the UAE at all, and you can see now that liquidity in these markets has dried up. We're advising clients to look more attentively at Saudi Arabia and Egypt and be less focused on UAE and Qatar. That is the trade for 2018.<\/p>\n<p><strong>Why KSA is the flavor of the year: <\/strong>With Saudi Arabia, the political issues are now behind us, but more importantly, there is the potential MSCI upgrade to emerging market status as early as the end of May. Coming on the back of the FTSE EM upgrade, investment banks are really pushing Saudi Arabia as the key trade. When the impact of the MSCI upgrade takes full effect in May 2019, it will very likely attract about USD 14 bn in passive flows that just follow the index \u2013 and that\u2019s very conservative estimate. I think it could be substantially more.<\/p>\n<p><strong>Saudi Arabia is a huge consumer market.<\/strong> The underlying challenge was that purchasing power went the way of falling oil prices, but that's reversing with oil hovering now at USD 70. Saudi Arabia is adamant on pushing oil prices higher, OPEC is adamant about it, too. It doesn't have to hit USD 80, as some analysts have been saying. Oil analysts rarely get the price right. Keeping the pricing sustainable at around current levels makes a lot of sense for the country. Saudi Arabia is not only a reform story that's shifting its economy from hydrocarbon to non-hydrocarbons, but one that is getting a boost from stronger oil prices as it does so.<\/p>\n<p><strong>Is there a deleveraging story at play for Egypt?<\/strong> Not for the private sector yet. Companies were previously looking to borrow, but at high interest rates that didn't make much sense. Even if they had gone to the international capital markets, it would still be the same. Now, with local interest rates going down, it is much easier to raise USD debt for Egyptian companies. There is more confidence in the economy and more confidence in the currency. There's actually demand for local currency debt, which is something we're exploring and that hasn\u2019t happened in a very long time. We're advising on several USD issuances and exploring LCY.<\/p>\n<p><strong>RenCap has mandates in hand: <\/strong>There is appetite among local companies to go into the debt market right now, and we have live mandates being executed as we speak \u2014 one of which is expected to close in May and which our special situations team is working on.<\/p>\n<p><strong>On the impact of Mifid II:<\/strong> Mifid II in general has changed the face of the industry significantly. When you\u2019re a player that knows its niche as we do \u2014 as an EMEA frontier specialist \u2014 you are in a better position. The challenge is that we need to continue being niche, so we'll continue to focus on markets like Egypt. When you look at our international competitors, they shy away from places like Egypt.<\/p>\n<p><strong>In Egypt to cooperate, not compete: <\/strong>We've been licensed in Egypt for the past five months and the official opening of the office will take place in the next month. We currently hold key licenses for underwriting and promoting IPOs and plan on becoming a fully licensed investment bank across all operations in Egypt, with the exception of brokerage services, where we will trade through local partners. On the research side, we\u2019re getting building out a team of three analysts led by Ahmed Hafez. We currently have two investment bankers, and are expecting to grow the team to five by the end of June. The roll-out of our Egypt operations is in line with our strategy to expand the firm\u2019s frontier markets offering which has already proved successful. That\u2019s clear in our FY2017 results, where we reported 43% year-on-year <a href=\"https:\/\/ent.news\/2018\/4\/333.pdf\">growth in net profit (pdf)<\/a> to USD 15.6mn coming from increased activity in our core EM and frontier geographies.<\/p>\n<p><strong>Even at this size we are able to balance our local team with our global distribution platform.<\/strong> Our Egyptian business will call on team members in places such as Moscow, London, and New York. Access to this kind of global expertise is really what differentiates us from local or regional platforms. Even though our local team has this international force behind it, we're not going to shy away from working with local investment banks, too.<\/p>\n<p><strong>What am I reading? <\/strong>I just started reading Jordan Belfort\u2019s the Way of the Wolf, where he talks about how he turned a bunch of mediocre people into sales geniuses. It\u2019s not the Wolf of Wall Street story, but about how to turn anyone into a great salesperson. It\u2019s aggressive, because he\u2019s half-crazy, but it works and it\u2019s very entertaining. <strong>The most interesting recent movie I\u2019ve seen is the Winston Churchill biopic The Darkest Hour.<\/strong> At one point Churchill says, \u201cThose who never change their minds, never change anything.\u201d A quote I find fitting in our business.<\/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=\"630566\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"630567\" 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=\"630567\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/saudi-arabia-movie-theatres-opens-new-market-for-egyptian-films\/\">\r\n                            Saudi Arabia movie theatres opens new market for Egyptian films                        <\/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\/2018\/04\/24\/saudi-arabia-movie-theatres-opens-new-market-for-egyptian-films\/\" 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\/2018\/04\/24\/saudi-arabia-movie-theatres-opens-new-market-for-egyptian-films\/')\">\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\/2018\/04\/24\/saudi-arabia-movie-theatres-opens-new-market-for-egyptian-films\/\">\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=Saudi Arabia movie theatres opens new market for Egyptian films&url=https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/saudi-arabia-movie-theatres-opens-new-market-for-egyptian-films\/\">\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\/2018\/04\/24\/saudi-arabia-movie-theatres-opens-new-market-for-egyptian-films\/&title=Saudi Arabia movie theatres opens new market for Egyptian films\">\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=Saudi+Arabia+movie+theatres+opens+new+market+for+Egyptian+films+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2018%2F04%2F24%2Fsaudi-arabia-movie-theatres-opens-new-market-for-egyptian-films%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\/2018\/04\/24\/saudi-arabia-movie-theatres-opens-new-market-for-egyptian-films\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-630567\" class=\"content-area-description single-story post-630567 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-egypt-in-the-news tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was another quiet day for Egypt in the international press,<\/strong> with only a handful of stories worth a noting:<\/p>\n<p><strong>Saudi Arabia\u2019s decision to reopen its movie theatres after a 35-year hiatus is good news for Egypt\u2019s film industry. <\/strong>The move opens up an important new market for Egyptian films, not only because of the large community of Egyptian expats in the kingdom, but also because the Saudi audience has a preference for Egyptian film, says Egyptian film critic Tarek El Shennawi, <a href=\"https:\/\/english.alarabiya.net\/en\/life-style\/entertainment\/2018\/04\/21\/How-will-Egypt-be-affected-by-the-coming-of-cinema-to-Saudi-Arabia-.html\">according to Al Arabiya<\/a>.<\/p>\n<p>Meanwhile:<\/p>\n<ul>\n<li><strong>It\u2019s nothing but tough times ahead for Egypt\u2019s rice farms, <\/strong>as the government clamps down on the cultivation of water-intensive crops with a new agriculture bill that means to circumvent the impact of Ethiopia\u2019s grand dam on Egypt\u2019s Nile water supply, <a href=\"https:\/\/af.reuters.com\/article\/africaTech\/idAFL3N1RO5B6\">says Reuters<\/a>. <\/li>\n<li><a href=\"https:\/\/www.haaretz.com\/middle-east-news\/egypt\/.premium-egypt-s-new-internet-law-blocks-sites-over-national-security-concern-1.6026598\"><strong>Israel\u2019s Haaretz<\/strong><\/a><strong> has taken interest in Egypt\u2019s new Cyber Crimes Act,<\/strong> which received final approval from the House of Representatives last week.<\/li>\n<li>From the Algemeiner: <a href=\"https:\/\/www.algemeiner.com\/2018\/04\/22\/ninety-years-on-the-muslim-brotherhood-faces-an-uncertain-future\/\">Ninety years on, the<strong> Muslim Brotherhood<\/strong> faces an uncertain future.<\/a><\/li>\n<li><strong>Media freedom files, part I: <\/strong>The Egyptian Organization for Human Rights (EOHR) reportedly expressed deep concern over charges brought up against Al Masry Al Youm for its coverage of the elections, <a href=\"http:\/\/allafrica.com\/stories\/201804230462.html\">All Africa reports<\/a>.<\/li>\n<li><strong>Media freedom files, part II: <\/strong>UNESCO went ahead with awarding Egyptian photojournalist Shawkan the 2018 Guillermo Cano Press Freedom Prize a day after Egypt\u2019s Foreign Ministry objected to his nomination, <a href=\"https:\/\/af.reuters.com\/article\/africaTech\/idAFL3N1S04HO\">Reuters reports<\/a>.<\/li>\n<li><strong>Egypt\u2019s publishing industry is suffering from a severe lack of funding, <\/strong>according to <a href=\"https:\/\/thearabweekly.com\/despite-hardships-head-egypts-book-organisation-holds-optimism\">the Arab Weekly<\/a>.<\/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\/egypt-in-the-news\/\">Egypt in the News<\/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=\"630568\" 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=\"630568\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/ofid-to-fund-phase-two-of-irrigation-system-development-with-usd-53-2-mn\/\">\r\n                            OFID to fund phase two of irrigation system development with USD 53.2 mn                        <\/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\/2018\/04\/24\/ofid-to-fund-phase-two-of-irrigation-system-development-with-usd-53-2-mn\/\" 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\/2018\/04\/24\/ofid-to-fund-phase-two-of-irrigation-system-development-with-usd-53-2-mn\/')\">\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\/2018\/04\/24\/ofid-to-fund-phase-two-of-irrigation-system-development-with-usd-53-2-mn\/\">\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=OFID to fund phase two of irrigation system development with USD 53.2 mn&url=https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/ofid-to-fund-phase-two-of-irrigation-system-development-with-usd-53-2-mn\/\">\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\/2018\/04\/24\/ofid-to-fund-phase-two-of-irrigation-system-development-with-usd-53-2-mn\/&title=OFID to fund phase two of irrigation system development with USD 53.2 mn\">\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=OFID+to+fund+phase+two+of+irrigation+system+development+with+USD+53.2+mn+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2018%2F04%2F24%2Fofid-to-fund-phase-two-of-irrigation-system-development-with-usd-53-2-mn%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\/2018\/04\/24\/ofid-to-fund-phase-two-of-irrigation-system-development-with-usd-53-2-mn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-630568\" class=\"content-area-description single-story post-630568 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-diplomacy-foreign-trade tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt signed an agreement with OPEC Fund of International Development (OFID) that will see it receive USD 53.2 mn in funding<\/strong> for phase two of a program to upgrade irrigation and sewage systems, <a href=\"http:\/\/www.miic.gov.eg\/Arabic\/MediaCenter\/News\/Pages\/%D9%85%D8%B5%D8%B1-%D8%AA%D9%88%D9%82%D8%B9-%D9%85%D8%B9-%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D8%A3%D9%88%D8%A8%D9%83-%D9%84%D9%84%D8%AA%D9%86%D9%85%D9%8A%D8%A9-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D9%85%D8%B1%D8%AD%D9%84%D8%A9-%D8%A7%D9%84%D8%AB%D8%A7%D9%86%D9%8A%D8%A9-%D9%84%D9%85%D8%B4%D8%B1%D9%88%D8%B9-%D8%A7%D8%B9%D8%A7%D8%AF%D8%A9-%D8%AA%D8%A3%D9%87%D9%8A%D9%84-%D9%85%D8%AD%D8%B7%D8%A7%D8%AA-%D8%A7%D9%84%D8%B1%D9%89-%D9%88%D8%A7%D9%84%D8%B5%D8%B1%D9%81-%D8%A8%D9%82%D9%8A%D9%85%D8%A9-53.2-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-.aspx\">according to a statement<\/a> from the Investment and International Cooperation Ministry. Egypt had received USD 30 mn for phase one of the program.<\/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\/diplomacy-foreign-trade\/\">Diplomacy + Foreign Trade<\/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=\"630570\" 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=\"630570\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Tourism<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/travco-to-open-new-steigenberger-run-hotel-in-sheikh-zayed-this-year\/\">\r\n                            Travco to open new Steigenberger-run hotel in Sheikh Zayed this year                        <\/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\/2018\/04\/24\/travco-to-open-new-steigenberger-run-hotel-in-sheikh-zayed-this-year\/\" 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\/2018\/04\/24\/travco-to-open-new-steigenberger-run-hotel-in-sheikh-zayed-this-year\/')\">\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\/2018\/04\/24\/travco-to-open-new-steigenberger-run-hotel-in-sheikh-zayed-this-year\/\">\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=Travco to open new Steigenberger-run hotel in Sheikh Zayed this year&url=https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/travco-to-open-new-steigenberger-run-hotel-in-sheikh-zayed-this-year\/\">\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\/2018\/04\/24\/travco-to-open-new-steigenberger-run-hotel-in-sheikh-zayed-this-year\/&title=Travco to open new Steigenberger-run hotel in Sheikh Zayed this year\">\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=Travco+to+open+new+Steigenberger-run+hotel+in+Sheikh+Zayed+this+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2018%2F04%2F24%2Ftravco-to-open-new-steigenberger-run-hotel-in-sheikh-zayed-this-year%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\/2018\/04\/24\/travco-to-open-new-steigenberger-run-hotel-in-sheikh-zayed-this-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-630570\" class=\"content-area-description single-story post-630570 post type-post status-publish format-standard hentry category-tourism tag-enterpriseam tag-tourism 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\/.6ffd9b65-f6ef-4fe6-9f84-942cceb28c96.mp3\"><\/audio><\/figure>\n<p>Egypts\u2019 Travco Travel Company has signed a 50-50% partnership agreement with German investors to build a new hotel in Sheikh Zayed this year, <a href=\"https:\/\/alborsanews.com\/2018\/04\/23\/1100523\">according to Chairman Hamed El Chiaty<\/a>. The company has also signed a management contract for the 300-room hotel with Steigenberger. The opening date is slated for early next year.<\/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\/tourism\/\">tourism<\/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=\"630571\" 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=\"630571\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Egypt Politics + Economics<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/man-who-killed-adib-ceo-nevine-loutfy-sentenced-to-death\/\">\r\n                            Man who killed ADIB CEO Nevine Loutfy sentenced to death                        <\/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\/2018\/04\/24\/man-who-killed-adib-ceo-nevine-loutfy-sentenced-to-death\/\" 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\/2018\/04\/24\/man-who-killed-adib-ceo-nevine-loutfy-sentenced-to-death\/')\">\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\/2018\/04\/24\/man-who-killed-adib-ceo-nevine-loutfy-sentenced-to-death\/\">\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=Man who killed ADIB CEO Nevine Loutfy sentenced to death&url=https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/man-who-killed-adib-ceo-nevine-loutfy-sentenced-to-death\/\">\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\/2018\/04\/24\/man-who-killed-adib-ceo-nevine-loutfy-sentenced-to-death\/&title=Man who killed ADIB CEO Nevine Loutfy sentenced to death\">\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=Man+who+killed+ADIB+CEO+Nevine+Loutfy+sentenced+to+death+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2018%2F04%2F24%2Fman-who-killed-adib-ceo-nevine-loutfy-sentenced-to-death%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\/2018\/04\/24\/man-who-killed-adib-ceo-nevine-loutfy-sentenced-to-death\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-630571\" class=\"content-area-description single-story post-630571 post type-post status-publish format-standard hentry category-egypt-politics-economics tag-egypt-politics-economics 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\/.e33beacd-c1c5-4d63-b510-d501bcd07105.mp3\"><\/audio><\/figure>\n<p>The Giza Criminal Court has sentenced to death the man convicted of murdering ADIB Egypt CEO Nevine Loutfy last year, <a href=\"https:\/\/dbonfrdgauzmg.cloudfront.net\/news\/details\/1283990\">Al Masry Al Youm reports<\/a>. In addition to premeditated murder, Karim Saber was also convicted of drug and weapon possession, as well as auto theft. Loutfy was found murdered in her 6 October home in November 2016. <a href=\"https:\/\/enterprise.press\/stories\/2016\/11\/23\/in-memoriam-nevine-loutfy\/\">At the time of her death<\/a>, Loutfy had been the first Arab woman to lead an Islamic bank.<\/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\/egypt-politics-economics\/\">Egypt Politics + Economics<\/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=\"630572\" 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=\"630572\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/cairo-steps-quadro-nuevo-receive-prestigious-jazz-music-award-in-berlin\/\">\r\n                            Cairo Steps, Quadro Nuevo receive prestigious Jazz Music Award in Berlin                        <\/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\/2018\/04\/24\/cairo-steps-quadro-nuevo-receive-prestigious-jazz-music-award-in-berlin\/\" 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\/2018\/04\/24\/cairo-steps-quadro-nuevo-receive-prestigious-jazz-music-award-in-berlin\/')\">\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\/2018\/04\/24\/cairo-steps-quadro-nuevo-receive-prestigious-jazz-music-award-in-berlin\/\">\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=Cairo Steps, Quadro Nuevo receive prestigious Jazz Music Award in Berlin&url=https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/cairo-steps-quadro-nuevo-receive-prestigious-jazz-music-award-in-berlin\/\">\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\/2018\/04\/24\/cairo-steps-quadro-nuevo-receive-prestigious-jazz-music-award-in-berlin\/&title=Cairo Steps, Quadro Nuevo receive prestigious Jazz Music Award in Berlin\">\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=Cairo+Steps%2C+Quadro+Nuevo+receive+prestigious+Jazz+Music+Award+in+Berlin+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2018%2F04%2F24%2Fcairo-steps-quadro-nuevo-receive-prestigious-jazz-music-award-in-berlin%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\/2018\/04\/24\/cairo-steps-quadro-nuevo-receive-prestigious-jazz-music-award-in-berlin\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2018\/4\/1829.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"630573\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/cairo-steps-quadro-nuevo-receive-prestigious-jazz-music-award-in-berlin\/1829-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2018\/4\/1829.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1829.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2018\/4\/1829.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2018\/4\/1829.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-630572\" class=\"content-area-description single-story post-630572 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egyptian-German ensemble Cairo Steps and German band Quadro Nuevo received the prestigious Jazz Music Award<\/strong> in a Thursday ceremony in Berlin for their joint album \u201cFlying Carpet,\u201d <a href=\"http:\/\/www.nileinternational.net\/en\/?p=96474\">Nile International reports<\/a>. Culture Minister Inas Abdel Daim, who is also a flautist, joined Cairo Steps at the ceremony as one of the prize recipients.<\/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=\"630576\" 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=\"630576\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/630576\/\">\r\n                                                    <\/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\/2018\/04\/24\/630576\/\" 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\/2018\/04\/24\/630576\/')\">\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\/2018\/04\/24\/630576\/\">\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=&url=https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/630576\/\">\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\/2018\/04\/24\/630576\/&title=\">\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=+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2018%2F04%2F24%2F630576%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\/2018\/04\/24\/630576\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-630576\" class=\"content-area-description single-story post-630576 post type-post status-publish format-standard hentry category-the-market-yesterday tag-enterpriseam tag-the-market-yesterday wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t\n<p><strong>EGP \/ USD CBE market average: <\/strong>Buy 17.65 | Sell 17.75<strong><br \/>\n EGP \/ USD at CIB:<\/strong> Buy 17.65 | Sell 17.75<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 17.57 | Sell 17.67<\/p>\n<p><strong>EGX30<\/strong> (Monday): 18,081 (+1.0%)<br \/>\n <strong>Turnover:<\/strong> EGP 1.9 bn (64% above the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: +20.3%<\/p>\n<p><strong>THE MARKET ON MONDAY:<\/strong> The EGX30 ended Monday\u2019s session up 1.0%. CIB, the index heaviest constituent ended up 1.0%. EGX30\u2019s top performing constituents were Qalaa Holdings up 5.6%, Amer Group up 5.1%, and TMG Holding up 4.2%. Yesterday\u2019s worst performing stocks were GB Auto down 2.6%, Pioneers Holding down 1.7%, and Elsewedy Electric down 1.5%. The market turnover was EGP 1.9 bn, and foreign investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Long | EGP +286.3 mn<br \/>\n <strong>Regional<\/strong>: Net Short | EGP -169.2 mn<br \/>\n <strong>Domestic<\/strong>: Net Short | EGP -117.1 mn<\/p>\n<p><strong>Retail<\/strong>: 58.1% of total trades | 55.5% of buyers | 60.8% of sellers<br \/>\n <strong>Institutions<\/strong>: 41.9% of total trades | 44.5% of buyers | 39.2% of sellers<\/p>\n<p><strong>Foreign:<\/strong> 21.0% of total | 28.5% of buyers | 13.4% of sellers<br \/>\n <strong>Regional:<\/strong> 17.5% of total | 13.0% of buyers | 22.0% of sellers<br \/>\n <strong>Domestic:<\/strong> 61.6% of total | 58.5% of buyers | 64.7% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 68.84 (+0.29%)<br \/>\n <strong>Brent:<\/strong> USD 74.84 (+0.17%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 2.74 MMBtu, (+0.11%, May 2018 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,326.00 \/ troy ounce (+0.15%)<br \n<\/p>\n<p><strong>TASI:<\/strong> 8,335.35 (+0.95%) (YTD: +15.35%)<br \/>\n <strong>ADX:<\/strong> 4,693.47 (+0.23%) (YTD: +6.71%)<br \/>\n <strong>DFM:<\/strong> 3,061.97 (-0.57%) (YTD: -9.14%)<br \/>\n <strong>KSE Premier Market:<\/strong> 4,779.27 (+0.06%)<br \/>\n <strong>QE:<\/strong> 9,157.57 (+0.02%) (YTD: +7.44%)<br \/>\n <strong>MSM:<\/strong> 4,756.03 (-0.11%) (YTD: -6.73%)<br \/>\n <strong>BB: <\/strong>1,298.60 (-0.19%) (YTD: -2.49%)<\/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\/the-market-yesterday\/\">The Market Yesterday<\/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=\"630577\" 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\/2018\/04\/24\/630577\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-630577\" class=\"content-area-description single-story post-630577 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>20-27 April (Friday-Friday): Seventh edition of <a href=\"http:\/\/www.elgounasquashopen.com\/worldseries.htm\">El Gouna International Squash Open<\/a>, El Gouna.<\/p>\n<p>24-25 April (Tuesday-Wednesday): Renaissance Capital\u2019s <a href=\"http:\/\/conference.rencap.com\/Calendar\/\">3rd Annual Egypt Investor Conference<\/a>, Cape Town, South Africa.<\/p>\n<p>25 April (Wednesday): Sinai Liberation Day, national holiday.<\/p>\n<p>30 April (Monday): High Representative of the EU for Foreign Affairs and Security Policy and Vice President of the EU Commission Federica Mogherini visits Cairo.<\/p>\n<p>01 May (Tuesday): Labor Day, national holiday.<\/p>\n<p>02-03 May (Wednesday-Thursday): Cisco Connect Egypt 2018, Nile Ritz-Carlton Hotel, Cairo.<\/p>\n<p>03 May (Thursday): Egypt\u2019s Emirates NBD PMI reading <a href=\"https:\/\/www.markiteconomics.com\/Public\/Release\/PressReleases?language=en\">for April released<\/a>.<\/p>\n<p>4-6 May 2018 (Friday-Sunday): <a href=\"http:\/\/icnt.org\/index.html\">International Conference on Network Technology (ICNT 2018)<\/a>, venue TBD, Cairo.<\/p>\n<p>05-06 May (Saturday-Sunday): <a href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2018\/04\/20\/imf-central-bank-of-egypt-and-egypt-to-host-inclusive-growth-and-job-creation-conference\">Inclusive Growth and Job Creation Conference<\/a>, venue TBD, Cairo.<\/p>\n<p>07 May (Monday): <a href=\"http:\/\/www.idcegyptciosummit2018.com\/\">International Data Corporation\u2019s CIO Summit<\/a>, The Nile Ritz-Carlton Hotel, Cairo.<\/p>\n<p>07-08 May (Monday-Tuesday): Fourth annual <a href=\"http:\/\/www.egyptcsrforum.com\/\">Egypt CSR Forum<\/a>, InterContinental Semiramis Hotel, Cairo.<\/p>\n<p>17 May (Thursday): Expected date for the start of Ramadan.<\/p>\n<p>17 May (Thursday): CBE\u2019s Monetary Policy Committee meeting.<\/p>\n<p>15-17 June (Friday-Sunday): Eid Al Fitr (TBC), national holiday (Look for possible Monday off given the first day falls on a Friday).<\/p>\n<p>28 June (Thursday): CBE\u2019s Monetary Policy Committee meeting.<\/p>\n<p>16 August (Thursday): CBE\u2019s Monetary Policy Committee meeting.<\/p>\n<p>21-25 August (Tuesday-Saturday): Eid Al Adha (TBC), national holiday.<\/p>\n<p>04-05 September (Tuesday-Wednesday): <a href=\"https:\/\/www.euromoneyconferences.com\/event\/a01D000001355HLIAY\/the-euromoney-egypt-conference-2018\">Euromoney Egypt Conference 2018<\/a>, Cairo.<\/p>\n<p>11 September (Tuesday): Islamic New Year (TBC), national holiday.<\/p>\n<p>24-25 September (Monday-Tuesday): <a href=\"https:\/\/egyptwaterdesalination.iqpc.com\/\">Egypt Water Desalination Forum<\/a>, venue TBD.<\/p>\n<p>27 September (Thursday): CBE\u2019s Monetary Policy Committee meeting.<\/p>\n<p>06 October (Saturday): Armed Forces Day, national holiday.<\/p>\n<p>23-24 October (Tuesday-Wednesday): <a href=\"http:\/\/eventtus.com\/event\/57331f97f1773d822f8b4578\">Intelligent Cities Exhibition & Conference 2018<\/a>, Fairmont Towers Heliopolis, Cairo.<\/p>\n<p>15 November (Thursday): CBE\u2019s Monetary Policy Committee meeting.<\/p>\n<p>20 November (Tuesday): Prophet's Birthday (TBC), national holiday.<\/p>\n<p>22 November (Thursday): US Thanksgiving.<\/p>\n<p>25-28 November (Sunday-Wednesday): <a href=\"http:\/\/cairoict.com\/\">22nd Cairo ICT<\/a>, Cairo Convention Center, Nasr City, Cairo.<\/p>\n<p>25 December (Tuesday): Western Christmas.<\/p>\n<p>27 December (Thursday): CBE\u2019s Monetary Policy Committee meeting.<\/p>\n<p>01 January 2019 (Tuesday): New Year's Day, national holiday.<\/p>\n<p>07 January 2019 (Monday): Coptic Christmas.<\/p>\n<p>25 January 2019 (Friday): Police Day, national holiday.<\/p>\n<p>25 April 2019 (Thursday): Sinai Liberation day, national holiday.<\/p>\n<p>28 April 2019 (Sunday): Easter Sunday, national holiday.<\/p>\n<p>29 April 2019 (Monday): Easter Monday, national holiday.<\/p>\n<p>01 May 2019 (Wednesday): Labor Day, national holiday.<\/p>\n<p>06 May 2019 (Monday): First day of Ramadan (TBC).<\/p>\n<p>05-06 June 2019 (Wednesday-Thursday): Eid El Fitr (TBC).<\/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":"","protected":false},"featured_media":630545,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-630544","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"4f5b13d6-e849-4c58-9a46-891cacc98119","teaser":"","photo_url":"https:\/\/ent.news\/2018\/4\/1059.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>Swvl closes Egypt\u2019s largest startup funding round yet, Careem announces major data breach - 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\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/swvl-closes-egypts-largest-startup-funding-round-yet-careem-announces-major-data-breach\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Swvl closes Egypt\u2019s largest startup funding round yet, Careem announces major data breach\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/swvl-closes-egypts-largest-startup-funding-round-yet-careem-announces-major-data-breach\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-17T11:34:50+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2018\/4\/1059.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/swvl-closes-egypts-largest-startup-funding-round-yet-careem-announces-major-data-breach\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/swvl-closes-egypts-largest-startup-funding-round-yet-careem-announces-major-data-breach\/\",\"name\":\"Swvl closes Egypt\u2019s largest startup funding round yet, Careem announces major data breach - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/swvl-closes-egypts-largest-startup-funding-round-yet-careem-announces-major-data-breach\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/swvl-closes-egypts-largest-startup-funding-round-yet-careem-announces-major-data-breach\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2018\/4\/1059.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2018-04-24T04:14:57+00:00\",\"dateModified\":\"2025-12-17T11:34:50+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/swvl-closes-egypts-largest-startup-funding-round-yet-careem-announces-major-data-breach\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/issues\/swvl-closes-egypts-largest-startup-funding-round-yet-careem-announces-major-data-breach\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/swvl-closes-egypts-largest-startup-funding-round-yet-careem-announces-major-data-breach\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2018\/4\/1059.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2018\/4\/1059.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/swvl-closes-egypts-largest-startup-funding-round-yet-careem-announces-major-data-breach\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Issues\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/AMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Swvl closes Egypt\u2019s largest startup funding round yet, Careem announces major data breach\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Swvl closes Egypt\u2019s largest startup funding round yet, Careem announces major data breach - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/issues\/swvl-closes-egypts-largest-startup-funding-round-yet-careem-announces-major-data-breach\/","og_locale":"en_US","og_type":"article","og_title":"Swvl closes Egypt\u2019s largest startup funding round yet, Careem announces major data breach","og_url":"https:\/\/enterpriseam.com\/egypt\/issues\/swvl-closes-egypts-largest-startup-funding-round-yet-careem-announces-major-data-breach\/","og_site_name":"EnterpriseAM Egypt","article_modified_time":"2025-12-17T11:34:50+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2018\/4\/1059.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/swvl-closes-egypts-largest-startup-funding-round-yet-careem-announces-major-data-breach\/","url":"https:\/\/enterpriseam.com\/egypt\/issues\/swvl-closes-egypts-largest-startup-funding-round-yet-careem-announces-major-data-breach\/","name":"Swvl closes Egypt\u2019s largest startup funding round yet, Careem announces major data breach - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/swvl-closes-egypts-largest-startup-funding-round-yet-careem-announces-major-data-breach\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/swvl-closes-egypts-largest-startup-funding-round-yet-careem-announces-major-data-breach\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2018\/4\/1059.jpg?fit=%2C&ssl=1","datePublished":"2018-04-24T04:14:57+00:00","dateModified":"2025-12-17T11:34:50+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/swvl-closes-egypts-largest-startup-funding-round-yet-careem-announces-major-data-breach\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/issues\/swvl-closes-egypts-largest-startup-funding-round-yet-careem-announces-major-data-breach\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/swvl-closes-egypts-largest-startup-funding-round-yet-careem-announces-major-data-breach\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2018\/4\/1059.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2018\/4\/1059.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/swvl-closes-egypts-largest-startup-funding-round-yet-careem-announces-major-data-breach\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Issues","item":"https:\/\/enterpriseam.com\/egypt\/AMarchives\/"},{"@type":"ListItem","position":3,"name":"Swvl closes Egypt\u2019s largest startup funding round yet, Careem announces major data breach"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/630544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/issue"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/630544\/revisions"}],"predecessor-version":[{"id":630585,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/630544\/revisions\/630585"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/630545"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=630544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=630544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=630544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}