{"id":633229,"date":"2024-07-10T00:00:00","date_gmt":"2024-07-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=633229"},"modified":"2025-12-17T13:12:31","modified_gmt":"2025-12-17T13:12:31","slug":"imf-executive-board-pushes-meeting-to-greenlight-usd-820-mn-tranche-pushed-to-29-july","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-executive-board-pushes-meeting-to-greenlight-usd-820-mn-tranche-pushed-to-29-july\/","title":{"rendered":"IMF Executive Board pushes meeting to greenlight USD 820 mn tranche pushed to 29 July"},"content":{"rendered":"<section id=\"633231\" 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=\"633231\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">What We're Tracking Today<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/customs-authority-mulls-monthly-car-import-quota\/\">\r\n                            Customs Authority mulls monthly car import quota                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/customs-authority-mulls-monthly-car-import-quota\/\" 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data-attachment-id=\"633232\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/customs-authority-mulls-monthly-car-import-quota\/125-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/125.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"125.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/125.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/125.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633231\" class=\"content-area-description single-story post-633231 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-customs-authority tag-enterpriseam tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.80885249-8e08-48b4-bfea-a2b40d8ef1db.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morni<\/strong><strong>ng, friends. <\/strong>To wrap up this shorter-than-usual week, we\u2019ve got the lowdown from the new government\u2019s first cabinet meeting, news that the IMF\u2019s Executive Board is pushing back its meeting to rubber-stamp a USD 820 mn tranche, and so much more.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And in case you forgot, the private sector, public sector, banks, bourse, and even us here at EnterpriseAM Egypt<\/strong><strong> will be off tomorrow<\/strong> for Islamic New Year. But fear not, we will be back bright and early on Sunday morning with all the local business news and updates from the long weekend to keep you up to track.<\/p><p class=\"tag-border-left\">WATCH THIS SPACE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#<\/strong><strong>1- Customs Authority mulls 10k monthly car import quota:<\/strong> The Customs Authority is considering a proposal from the automotive division of the Federation of Egyptian Chambers of Commerce to allow a monthly import quota of 10k cars following the tighter restrictions on car imports recently, two sources at the Customs Authority told Enterprise. The division proposes to divy up the monthly imports to companies according to their market share, and to implement the quota until the end of the year in hopes that the local supply picks up and the market stabilizes by then, the sources added.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- A temporary pause to blackouts to calculate usage: <\/strong>Prime Minister Moustafa Madbouly has instructed that load shedding be temporarily paused as \u201cexperiments\u201d in order to gauge daily energy needs \u201cunder normal conditions,\u201d he said in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/973163821520705?ref=embed_post&amp;_rdc=1&amp;_rdr\" style=\"\" rel=\"noopener\">press conference<\/a> following yesterday\u2019s cabinet meeting. The move comes ahead of the government\u2019s plan to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/am\/2024-06-26\/4\" style=\"\" rel=\"noopener\">suspend power cuts<\/a> for the summer months starting from the third week of July.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#3- SEIC to conclude due diligence on CIRA before September: <\/strong>The Saudi Egyptian Investment Company (SEIC) \u2014 a wholly-owned subsidiary of the Public Investment Fund \u2014 should wrap up its due diligence ahead of its acquisition plans CIRA Education by the end of August, CIRA CEO Mohamed El Kalla told <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/CyAzqiRUThue4DZW\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> SEIC said <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a82c702-10eb-4631-b5ba-77ad9f1a1781\/\" style=\"\" rel=\"noopener\">in May<\/a> that it will buy into Social Impact Capital, the vehicle through which the founding El Kalla family holds a controlling stake in EGX-listed CIRA Education. SIC will use the cash injection to launch a mandatory tender offer to buy CIRA shares at a price of EGP 14 each to up its stake in the company to 75-100%.<\/p><p class=\"tag-border-left\">PSA-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- Another summery day in Cairo today<\/strong>, with a high of 39\u00b0C and a low of 28\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s continuing to heat up in Alexandria and along the North Coast<\/strong>, with a high of 36\u00b0C and a low of 24\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And over the long weekend<\/strong>, in the capital it will heat up to 40\u00b0C tomorrow, before gradually falling to 38\u00b0C by Saturday. While for our friends on the Mediterranean, temperatures will slowly dip to 35\u00b0C by the end of the long weekend.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p class=\"tag-border-left\">HAPPENING TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#1- Inflation to drop for a fourth consecutive month? <\/strong>Capmas and the CBE are expected to publish June\u2019s inflation data today. Policy makers and the business community are hoping for the recent downward trend in inflation levels to continue after annual urban inflation <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8757d10a-4390-4b5a-9dbc-4205d62e07a3\/egypt%25e2%2580%2599s-inflation-falls-to-lowest-level-in-over-a-year,-recording-28.1%2525-in-may\" style=\"\" rel=\"noopener\">cooled to 28.1% in May<\/a> \u2014 its lowest level in 16 months.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Forecasts are all over the place: <\/strong>While annual urban inflation is expected to cool 0.6 percentage points for the fourth consecutive month to 27.5%, according to a median prediction of 17 analysts <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egypts-inflation-seen-declining-fourth-month-june-2024-07-08\/\" style=\"\" rel=\"noopener\">polled<\/a> by Reuters, others see inflation moving the other way. Naeem Brokerage is forecasting that headline inflation will pick up 1.9 percentage points to 30% in a note seen by Enterprise, while Barclays has penciled in an even greater 4.2 percentage point jump to 32.3%.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- House committ<\/strong><strong>ee starts reviewing the new government\u2019s policy statement<\/strong>: The parliamentary committee tasked with reviewing the new government\u2019s policy statement will kick off its meetings starting today. The committee will hold two meetings a day, which will see the new cabinet ministers summoned to answer questions on the government\u2019s plan for the next three years. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> The 42 committee members will draft a report on their findings at the end of the debates to submit it to the House for discussion on Sunday 21 July, before MPs hold a vote of confidence in the new government.<\/p><p class=\"tag-border-left\">FACT CHECK-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s business as usual at our largest power plants: <\/strong>German firm Siemens Energy continues to operate Egypt\u2019s two largest power plants, the Electricity Ministry said in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0382mXHyMVsZ2Xk3zJHaQf7YaTpvAzmi6Gu1ryqY59Hu3sohmnnVw2QRU6ttGFnkxl\" style=\"\" rel=\"noopener\">statement<\/a>, in response to reports that the energy giant would be stepping back from the power plants due to outstanding debts owed by the government. The energy technology giant operates, maintains, and manages power plants in Beni Suef, Burullus, and the new capital under a eight-year agreement inked in 2018.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- IMF meeting to greenlight USD 820 mn tranche pushed to 29 July: <\/strong>After initially being <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e71493a-fde3-4dfc-b0e9-286632532659\/electricity-bill-hikes-put-on-hold-until-september--electricity-ministry-source\" style=\"\" rel=\"noopener\">penciled in<\/a> for today and then disappearing from the Executive Board\u2019s <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/About\/executive-board\/EBC-Scheduled#top\" style=\"\" rel=\"noopener\">schedule<\/a>, the Fund\u2019s Egypt head Ivanna Hollar clarified that the board will meet to discuss the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfbd78c7-f717-4c87-b12e-7c5cdec4e021\/%253cmark%253eimf%253c%2Fmark%253e-reaches-staff-level-agreement-on-third-loan-review\" style=\"\" rel=\"noopener\">staff-level agreement-approved<\/a> third review of our USD 8 bn loan program on 29 July, in comments to <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/economics\/48079\/%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D9%86%D9%82%D8%AF-%D9%8A%D8%A4%D8%AC%D9%84-%D9%85%D9%86%D8%A7%D9%82%D8%B4%D8%A9-%D8%B5%D8%B1%D9%81-%D8%A7%D9%84%D8%B4%D8%B1%D9%8A%D8%AD%D8%A9-%D8%A7%D9%84%D8%AB%D8%A7%D9%84%D8%AB%D8%A9-%D9%84%D9%85%D8%B5%D8%B1\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. Assuming the board greenlights the fresh USD 820 tranche into the state coffers, this will in turn allow Egypt to apply for an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/76a0a985-9e76-4ce5-a155-8bfa25b6f658\/negotiations-have-kicked-off-on-our-usd-1.2-bn-green-financing-from-the-imf\" style=\"\" rel=\"noopener\">additional USD 1.2 bn<\/a> in climate finance from the international lender.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why the delay? <\/strong>The regional business news outlet cited an anonymous senior government official who alleged that the delay stems from Egypt \u201cnot meeting some conditions.\u201d However, the source clarified that these were \u201csimple procedures by the Fund that will be clarified soon.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#2- <\/strong><strong>Call<\/strong><strong>ing all fintech SMEs: <\/strong>Changelabs has partnered with Disruptech Ventures and InDrive New Ventures to open applications for fintech SMEs looking to join the Egyptian edition of its flagship MENA fintech accelerator. The Egypt Fintech for a Future Accelerator aims to support 12 local fintech SMEs Egypt, Africa and the Middle East looking to expand into Egypt, develop their products, raise funds, and build their customer base and strategic partnerships, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/729.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The program will run from September to January and give participating startups USD 25k in Amazon Web Services funding alongside tech and design support, coaching, and partnership leads. Applications close on 1 August. <strong>Apply <\/strong><strong><a target=\"_blank\" href=\"https:\/\/form.typeform.com\/to\/M2jHc6y8?typeform-source=lnkd.in\" style=\"\" rel=\"noopener\">here<\/a><\/strong><strong>. <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Nato summit kicked off in Washington yesterday<\/strong> against the backdrop of Joe Biden\u2019s teetering reelection campaign and developments in the Russia-Ukraine war landing on most front pages with news of another support package for Ukraine, this time in the form of an air defense system. (<a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/national-security\/2024\/07\/09\/nato-biden-ukraine-membership\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/us-allies-announce-additional-air-defense-systems-ukraine-2024-07-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/16440664-b9b4-488e-a62a-3fda2717ae67\" style=\"\" rel=\"noopener\">FT<\/a>) <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Biden\u2019s speech at the summit stood in stark contrast with his performance at the presidential debate<\/strong>, with <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/biden-nato-summit-chance-show-voters-allies-he-can-still-lead-2024-07-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a> noting his \u201cstrong and confident voice\u201d as he read off a teleprompter and looked to avoid signs of weakness. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Still, his future candidacy remains in limbo<\/strong>, with another key democrat \u2014 Mikie Sherrill \u2014 joining the growing call among Democratic lawmakers for him to drop out, while some others have pledged support, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e06f5881-0734-4a8e-81af-8afa3cc0e31a\" style=\"\" rel=\"noopener\">Financial Times<\/a> said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO HAPPENING YESTERDAY- US Federal Reserve Chair Jerome Powell kicked off his testimony before the Senate Banking Committee with a tee-up for an interest rate cut <\/strong>that could take place as soon as September, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/feds-powell-before-congress-could-show-developing-case-rate-cut-2024-07-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cLeaving monetary policy too tight for too long could unduly weaken economic activity and employment,\u201d<\/strong> Powell said, adding that the US economy is no longer overheated, as inflation and the labor market both continue to cool. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OVER IN EUROPE- It\u2019s a bad week for France on all fronts<\/strong>, as it faces a political stalemate and is kicked out of the Euros by a defiant Spain \u2014 led by 16-year-old wunderkind Lamine Yamal \u2014 in yesterday\u2019s semi-final.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- Europe just launched its first rocket in almost 30 years<\/strong>, virtually \u201cpower[ing] Europe back into space,\u201d European Space Agency Josef Aschbacher head said, after years of dominance from Elon Musk\u2019s SpaceX. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2abdea1a-d985-4f25-90ee-af74524b736f\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/07\/09\/first-ariane-6-launch-of-european-rocket.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2503.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We take a look at Egypt\u2019s energy mix over the last ten years and what led us to the ongoing period of gas shortages and electricity blackouts.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/customs-authority\/\">Customs Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"633233 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"633233\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/633233\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633233\" class=\"content-area-description single-story post-633233 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/423.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">DISCOVER SOMABAY: <\/span><span>Embark on a journey of discovery in the heart of Somabay, where crystal-clear waters meet golden sands and luxury meets serenity. Experience a world of adventure, relaxation, and natural beauty like no other. From thrilling water sports to world-class golf, Somabay offers it all. Explore vibrant coral reefs, unwind in luxurious spas, and savor exquisite cuisine. Your dream destination awaits, where every moment is a discovery.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"633234\" 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=\"633234\">\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\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/new-cabinet-approves-energy-agreements-education-amendments-taxation-changes-in-first-meeting\/\">\r\n                            Egypt\u2019s new cabinet approves energy agreements, education amendments, taxation changes in first meeting                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/new-cabinet-approves-energy-agreements-education-amendments-taxation-changes-in-first-meeting\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/new-cabinet-approves-energy-agreements-education-amendments-taxation-changes-in-first-meeting\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/782.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"633235\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/new-cabinet-approves-energy-agreements-education-amendments-taxation-changes-in-first-meeting\/782-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/782.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"782.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/782.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/782.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633234\" class=\"content-area-description single-story post-633234 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-cabinet-watch tag-education tag-egas tag-egypt-oman-relations tag-energy tag-eni tag-enterpriseam tag-madbouly-cabinet tag-oil-and-gas tag-tax 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\/.bbd8de52-e256-459c-a2c5-8c50e84014cd.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Our new cabinet held its first meeting yesterday<\/strong>, where it approved a number of decisions, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LaJLjpcNZNLL8fhkfdaamfZUMVmKMzfg9m7g7G2KruGicBCBSh38RmiPcMvx99jHl\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong> <strong>Five new energy projects got preliminary approval:<\/strong> The cabinet gave preliminary approval to five new petroleum projects to be carried out by the Egyptian Natural Gas Holding Company (EGAS), the Egyptian General Petroleum Corporation (EGPC), and a number of international and local companies with investments totaling USD 200 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The agreements include two that will give EGAS and Eni\u2019s IEOC Production <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">HBS the right to search for and exploit gas and oil reserves in the Mediterranean\u2019s North Port Fouad offshore area and the South Nour offshore area. The rest of the agreements will see companies explore and exploit gas and oil in the Nile Delta and Western Desert. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Amendments to the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/eg.usembassy.gov\/education-culture\/u-s-egypt-higher-education-initiative\/\" style=\"\" rel=\"noopener\">US-Egypt Higher Education Initiative<\/a><\/strong> got the greenlight from the cabinet. The USD 250 mn initiative provides high-achieving Egyptians with access to higher education locally and in the US. The cabinet statement did not detail what exactly the amendments entailed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- No more double taxation between Egypt and Oman: <\/strong>The cabinet approved an agreement to eliminate dual taxation between Egypt and Oman and crack down on tax evasion. The agreement was first <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7c92dec5-f2e9-4aa0-97a3-78c470e6e0fa\" style=\"\" rel=\"noopener\">inked<\/a> during an Egyptian-Omani business forum in May 2023 and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/13002f77-ee00-4707-87e1-19411312df75\/el-sisi-cements-strategic-partnership-with-india%25e2%2580%2599s-modi-on-his-visit-to-cairo\" style=\"\" rel=\"noopener\">ratified by the Omani Sultan<\/a> the following month. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO FROM THE CABINET- New ministerial groups to boost human and industrial<\/strong><strong> development:<\/strong> Prime Minister Moustafa Madbouly gave directives to form two specialized ministerial groups aimed at enhancing human and industrial development, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid08CnjiJ15ApiNAuenSJYDhdoEPXrDHL8Vz93Ku3HDWpXBb5E5EPNCvnZADKq4zyGyl\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. The Human Development Ministerial Group \u2014 headed by the deputy president for human development and health minister, Khaled Abdel Ghaffar \u2014 will focus on national strategies in health, education, culture, sports, and religious discourse, as well as aligning vocational education with market needs. The Industrial Development Ministerial Group \u2014 led by the deputy president for industrial development and trade minister, Kamel El Wazir \u2014 will work on national industrial strategies, promoting direct private investment, increasing local content in industries, and managing industrial land development.<\/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\/cabinet-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egas\/\">EGAS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-oman-relations\/\">Egypt-Oman relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eni\/\">Eni<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madbouly-cabinet\/\">Madbouly Cabinet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n              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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"633237\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/dr-greiche-glass-and-high-glass-ink-strategic-merger-agreement\/\">\r\n                            Dr Greiche Glass and High Glass ink strategic merger 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\" 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    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/dr-greiche-glass-and-high-glass-ink-strategic-merger-agreement\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/810.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"633238\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/dr-greiche-glass-and-high-glass-ink-strategic-merger-agreement\/810-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/810.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"810.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/810.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/810.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633237\" class=\"content-area-description single-story post-633237 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-automotive tag-dr-greiche-glass tag-enterpriseam tag-ma-watch tag-manufacturing 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\/.5e768caa-40b4-4594-8062-09342458c134.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Glass maker High Glass<\/strong><strong> comes under Dr Greiche\u2019s umbrella:<\/strong> Homegrown glass manufacturers <a target=\"_blank\" href=\"https:\/\/drgreiche.com\/?fbclid=IwZXh0bgNhZW0CMTAAAR1aR5ERJWSOPJ2mcKxRb31FTqZL0kEQ0i9jVPeEBuDALpomHOnxkflvKe8_aem_CvyC4wfjBXnIEpxir0qv8g\" style=\"\" rel=\"noopener\">Dr Greiche Glass<\/a> and <a target=\"_blank\" href=\"https:\/\/www.highglass-egy.com\/?fbclid=IwZXh0bgNhZW0CMTAAAR1FMBq0EACg7FGgRvirc11hyHECMYCzcKv5Z-bcSqoHyNDehybsogy3oZk_aem_QEfVxqMN9CPUP_Te196CUQ\" style=\"\" rel=\"noopener\">High<\/a><a target=\"_blank\" href=\"https:\/\/www.highglass-egy.com\/?fbclid=IwZXh0bgNhZW0CMTAAAR1FMBq0EACg7FGgRvirc11hyHECMYCzcKv5Z-bcSqoHyNDehybsogy3oZk_aem_QEfVxqMN9CPUP_Te196CUQ\" style=\"\" rel=\"noopener\">Glass<\/a> have come together under a strategic merger agreement, in a bid to boost the new entity\u2019s growth in Egypt and foreign markets, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/793.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The merger agreement was finalized in May, and now both companies operate under the Dr Greiche brand, Dr Greiche Glass CEO Chahir Greiche told Enterprise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A bigger and better Dr Greiche:<\/strong> Dr. Greiche Glass now operates seven factories, including the newly acquired High Glass facility, Greiche told us. The merger will help increase glass production by 150k square meters, according to Greiche. High Glass CEO Heba Sakr told us that her company will gain from Dr Greiche's technical, commercial, financial expertise, and quality control systems. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big export plans ahead:<\/strong> The merger aims to expand the local and export business base of the two companies, with Dr. Greiche Glass already exporting USD 75 mn annually \u2014 accounting for 12% of Egypt's total glass exports last year, Greiche told Enterprise. The company currently exports 30% of its annual production to 40 markets worldwide and is planning to expand its access to external markets in 2025, including the US, Europe, Algeria, and Turkey, Greiche told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But why High Glass?: <\/strong>Dr Greiche chose High Glass because it is the only Egyptian company \u2014 besides Dr. Greiche \u2014 that has received quality certifications, including the IATF standard for the automotive industry and has a decade of experience in the market, Greiche said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More agreements in the <\/strong><strong>works:<\/strong> Dr. Greiche is set to announce new commercial partnerships with some global automotive brands in the coming weeks and is exploring new production sectors outside the glass industry, which will be unveiled later, Greiche told Enterprise.<\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dr-greiche-glass\/\">Dr Greiche Glass<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"633239\" 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=\"633239\">\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\">Education<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/education-platform-epp-wants-to-set-up-two-schools-in-alexandria-and-soma-bay-by-2025\/\">\r\n                            Egypt Education Platform will build two schools in Alexandria, Soma Bay by September 2025                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/education-platform-epp-wants-to-set-up-two-schools-in-alexandria-and-soma-bay-by-2025\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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2025&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/education-platform-epp-wants-to-set-up-two-schools-in-alexandria-and-soma-bay-by-2025\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/education-platform-epp-wants-to-set-up-two-schools-in-alexandria-and-soma-bay-by-2025\/&title=Education platform EPP wants to set up two schools in Alexandria and Soma Bay by 2025\">\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=Education+platform+EPP+wants+to+set+up+two+schools+in+Alexandria+and+Soma+Bay+by+2025+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F07%2F10%2Feducation-platform-epp-wants-to-set-up-two-schools-in-alexandria-and-soma-bay-by-2025%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/education-platform-epp-wants-to-set-up-two-schools-in-alexandria-and-soma-bay-by-2025\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/875.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"633240\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/education-platform-epp-wants-to-set-up-two-schools-in-alexandria-and-soma-bay-by-2025\/875-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/875.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"875.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/875.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/875.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633239\" class=\"content-area-description single-story post-633239 post type-post status-publish format-standard has-post-thumbnail hentry category-education tag-education tag-efg-holding tag-egypt-education-platform tag-enterpriseam tag-mobica tag-sovereign-fund-of-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.7d2aa249-4496-4a1c-b499-b5aca2f61112.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>EEP to launch two <\/strong><strong>new schools by 2025:<\/strong> The Egypt Education Platform (EEP) \u2014 a joint venture set up in 2018 between our friends at EFG Holding, the Sovereign Fund of Egypt (SFE), GEMS Educational Global and other investors \u2014 plans to set up two new schools in Alexandria and Somabay by September 2025, EEP CEO Ahmed Wahby told Enterprise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> The EEP recently launched three new schools, with two Mobica-constructed schools <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/47d072c6-9580-4f66-b248-7253c93bdd4a\/\" style=\"\" rel=\"noopener\">being inaugurated in the Cosmic Village<\/a> in November and the opening of Hayah International Academy\u2019s Hayah West in Sheikh Zayed, Wahby told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Current<\/strong><strong> portfolio:<\/strong> The platform\u2019s portfolio includes 12 schools catering to various educational stages with a total capacity of 21k students, along with 11 preschools accommodating 1.5k students in Cairo and Alexandria, Wahby noted.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Regional<\/strong><strong> expansion in the works:<\/strong> EEP is aiming to penetrate two to three new international markets in the near future. While Wahby did not disclose the specific markets, he indicated that they are \"regional\" markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And more EEP investments <\/strong><strong>in Egypt to come:<\/strong> The platform intends to raise its investments to EGP 3 bn over the next three years, building on the EGP 1.5 bn already invested in the Egyptian market since its inception in 2018.<\/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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-holding\/\">EFG Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-education-platform\/\">Egypt Education Platform<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mobica\/\">Mobica<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"633241\" 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=\"633241\">\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\">A MESSAGE FROM VISA<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/managing-the-booming-subscription-economy-how-banks-can-adapt\/\">\r\n                            Managing the booming subscription economy: how banks can adapt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/managing-the-booming-subscription-economy-how-banks-can-adapt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/managing-the-booming-subscription-economy-how-banks-can-adapt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/managing-the-booming-subscription-economy-how-banks-can-adapt\/\">\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=Managing the booming subscription economy: how banks can adapt&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/managing-the-booming-subscription-economy-how-banks-can-adapt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/managing-the-booming-subscription-economy-how-banks-can-adapt\/&title=Managing the booming subscription economy: how banks can adapt\">\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=Managing+the+booming+subscription+economy%3A+how+banks+can+adapt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F07%2F10%2Fmanaging-the-booming-subscription-economy-how-banks-can-adapt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/managing-the-booming-subscription-economy-how-banks-can-adapt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/483.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"633242\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/managing-the-booming-subscription-economy-how-banks-can-adapt\/483-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/483.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"483.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/483.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/483.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633241\" class=\"content-area-description single-story post-633241 post type-post status-publish format-standard has-post-thumbnail hentry category-a-message-from-visa tag-a-message-from-visa tag-enterpriseam tag-visa 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\/.5ea56dac-3702-438e-9fe4-fdde5b8594a9.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">In today's digital age, subscription services are on the rise and <strong>expected to hit USD 406 bn globally by next year. <\/strong>Managing these recurring payments is more critical than ever and financial institutions must ensure they are doing their part in enabling seamless experiences.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">From streaming platforms to meal kits, subscription services offer unparalleled convenience and customization, changing how we purchase products and services. An eCommerce company offers a \u2018Prime\u2019 example, with more than 200 mn worldwide members holding a subscription to same- or next-day deliveries. This service, expanded to include exclusive deals and streaming, also offers 'Subscribe & Save' for household essentials, making routine purchases hassle-free and discounted. These services have become integral to daily life, shaping spending habits and expectations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The rise of subscription video on demand (SVoD) in regions like the Middle East, North Africa, Sub-Saharan Africa, and Eastern Europe, where subscriptions are expected to double by 2029, highlights the growth potential of the subscription economy. This trend extends beyond large corporations to small and medium-sized businesses (SMBs), catering to diverse needs\u2014from beauty boxes in the GCC to premium stationery in South Africa. Even traditional industries like pet supplies and prescription drugs have embraced subscriptions, offering tailored recurring deliveries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Factors fueling the subscription economy's growth include eCommerce, consumer demand for personalized experiences, and technological advancements. Consumers now enjoy a vast array of products and services without leaving home, seamlessly fitting deliveries and services into their lifestyles.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">This surge in subscription-based services presents opportunities and challenges. While consumers benefit from convenience and cost savings, managing multiple subscriptions can be overwhelming. A solution that provides transparency and control over recurring payments is essential.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Visa's Subscription Manager addresses this need. This tool allows financial institutions to offer Visa cardholders a simpler way to track and manage subscriptions directly from their banking apps. With Subscription Manager, cardholders gain convenient oversight of where their card details are stored, can identify recurring payments, and cancel unwanted subscriptions with a few clicks\u2014covering everything from streaming services to gym memberships.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">As demand for subscription-based services rises, so does the need for streamlined payment management. Subscription Manager meets consumers' evolving needs and benefits issuers and acquirers. By reducing chargebacks, disputes, and call center volumes, it lowers costs and enhances operational efficiency for issuers. For acquirers, it reduces payment authorization declines and standardizes stop payment handling.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">As the subscription economy reshapes consumer spending habits, banks must offer solutions that ease the management of recurring payments. By embracing these tools, financial institutions can provide value-added services that meet consumers' evolving needs and retain their loyalty.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Leila Serhan, Senior Vice President and Group Country Manager North Africa, Levant and Pakistan<\/strong><\/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\/a-message-from-visa\/\">A MESSAGE FROM VISA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/visa\/\">Visa<\/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=\"633243\" 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=\"633243\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/ezz-steel-finishes-1q-2024-in-the-green-following-2023-losses\/\">\r\n                            Ezz Steel finishes 1Q 2024 in the green following 2023 losses                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/ezz-steel-finishes-1q-2024-in-the-green-following-2023-losses\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/ezz-steel-finishes-1q-2024-in-the-green-following-2023-losses\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/ezz-steel-finishes-1q-2024-in-the-green-following-2023-losses\/\">\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=Ezz Steel finishes 1Q 2024 in the green following 2023 losses&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/ezz-steel-finishes-1q-2024-in-the-green-following-2023-losses\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/ezz-steel-finishes-1q-2024-in-the-green-following-2023-losses\/&title=Ezz Steel finishes 1Q 2024 in the green following 2023 losses\">\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=Ezz+Steel+finishes+1Q+2024+in+the+green+following+2023+losses+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F07%2F10%2Fezz-steel-finishes-1q-2024-in-the-green-following-2023-losses%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/ezz-steel-finishes-1q-2024-in-the-green-following-2023-losses\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/815.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"633244\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/ezz-steel-finishes-1q-2024-in-the-green-following-2023-losses\/815-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/815.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"815.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/815.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/815.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633243\" class=\"content-area-description single-story post-633243 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-enterpriseam tag-ezz-steel tag-foreign-exchange tag-manufacturing 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\/.cef7ae88-efee-41cf-ab72-bb00da33ffef.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Bottom line back in the green:<\/strong> Local steel manufacturer Ezz Steel posted a net income of EGP 1.3 bn in 1Q 2024, up from a net loss of some EGP 2.5 bn in the same three-month period last year, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/791.pdf\" style=\"\" rel=\"noopener\">financial statement (pdf)<\/a> from the company. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Revenues are also up:<\/strong> The company\u2019s EGP-denominated revenues were up 80.0% y-o-y to EGP 50.2 bn in the quarter. However, in USD terms, revenues recorded a 15.7% y-o-y increase to USD 1.0 bn as steel on the back of exchange rate fluctuations following the devaluation of the pound after the float of the EGP at the beginning of March.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Exports still on the rise:<\/strong> Exports were up 43.9% y-o-y in 1Q 2024 to USD 410, driven by hot rolled coil steel exports that were up 101.5% y-o-y and accounted for 66.8% of all exports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Ezz Steel closed 2023 in the red, posting a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1209f4f2-498e-4859-a860-b6f2436c59d7\/\" style=\"\" rel=\"noopener\">net loss of of EGP 717 mn<\/a> for the year despite a 70% y-o-y jump in revenues, as the FX crisis that persisted until earlier this year contributed to FX exchange losses for the steel maker and domestic demand dropped. In the first quarter of 2024, the company\u2019s FX losses amounted to only EGP 255 mn, <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/7\/251.pdf\" style=\"\" rel=\"noopener\">down from (pdf)<\/a> EGP 8.9 bn in 1Q 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>\u201cIn the medium term, the successful flotation of the Egyptian pound on 6 March, 2024, the new economic measures adopted, and the implementation of the new building legislations are still expected to spur growth and increase consumption. However, on the short term, lack of liquidity and higher costs due to inflation act as a drag on demand,\u201d the company said in comments on its <a target=\"_blank\" href=\"https:\/\/www.londonstockexchange.com\/news-article\/AEZD\/1st-quarter-results\/16559777\" style=\"\" rel=\"noopener\">release<\/a> on the LSE. <\/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\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ezz-steel\/\">Ezz Steel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/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=\"633245\" 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=\"633245\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/aucs-sherif-kamel-elected-chair-of-the-association-to-advance-collegiate-schools-of-business\/\">\r\n                            AUC\u2019s Sherif Kamel elected chair of the Association to Advance Collegiate Schools of Business                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/aucs-sherif-kamel-elected-chair-of-the-association-to-advance-collegiate-schools-of-business\/\" target=\"_blank\">\n                  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    <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=AUC\u2019s Sherif Kamel elected chair of the Association to Advance Collegiate Schools of Business&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/aucs-sherif-kamel-elected-chair-of-the-association-to-advance-collegiate-schools-of-business\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/aucs-sherif-kamel-elected-chair-of-the-association-to-advance-collegiate-schools-of-business\/&title=AUC\u2019s Sherif Kamel elected chair of the Association to Advance Collegiate Schools of Business\">\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=AUC%E2%80%99s+Sherif+Kamel+elected+chair+of+the+Association+to+Advance+Collegiate+Schools+of+Business+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F07%2F10%2Faucs-sherif-kamel-elected-chair-of-the-association-to-advance-collegiate-schools-of-business%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/aucs-sherif-kamel-elected-chair-of-the-association-to-advance-collegiate-schools-of-business\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/789.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"633246\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/aucs-sherif-kamel-elected-chair-of-the-association-to-advance-collegiate-schools-of-business\/789-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/789.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"789.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/789.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/789.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633245\" class=\"content-area-description single-story post-633245 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-auc tag-education tag-enterpriseam tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.dcb09447-342c-4b64-b05b-140ebe489e81.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sherif Kamel (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.aucegypt.edu\/fac\/sherif-kamel\" style=\"\" rel=\"noopener\">bio<\/a><\/strong><strong>), dean of the School of Business at AUC, was elected chair of the<\/strong> <strong>Association to Advance Collegiate Schools of Business <\/strong>(AACSB) \u2014 the world\u2019s <a target=\"_blank\" href=\"https:\/\/www.aacsb.edu\/\" style=\"\" rel=\"noopener\">largest<\/a> business education association \u2014 for the 2024-2025 academic year, the American University in Cairo (AUC) said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/732.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. As chair, Kamel \u201cplans to focus on digital transformation in education, foster global collaboration, and promote sustainable and inclusive growth within the industry.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kamel brings extensive experience to the role<\/strong>, with the AUC School of Business attaining triple-crown accreditation under his tenure as dean \u2014 becoming the only business school in the Middle East to have done so and putting the AUC School of Business among the top 1% of business schools across the globe. Kamel has also served on the board of directors of the Central Bank of Egypt since late 2023.<\/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\/auc\/\">AUC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"633247\" 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=\"633247\">\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\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/egyptian-analysts-and-banks-rack-up-awards\/\">\r\n                            Egyptian analysts and banks rack up awards                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/egyptian-analysts-and-banks-rack-up-awards\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/egyptian-analysts-and-banks-rack-up-awards\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/egyptian-analysts-and-banks-rack-up-awards\/\">\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=Egyptian analysts and banks rack up awards&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/egyptian-analysts-and-banks-rack-up-awards\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/egyptian-analysts-and-banks-rack-up-awards\/&title=Egyptian analysts and banks rack up awards\">\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=Egyptian+analysts+and+banks+rack+up+awards+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F07%2F10%2Fegyptian-analysts-and-banks-rack-up-awards%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/egyptian-analysts-and-banks-rack-up-awards\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1221.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"633248\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/egyptian-analysts-and-banks-rack-up-awards\/1221-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1221.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1221.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1221.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1221.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633247\" class=\"content-area-description single-story post-633247 post type-post status-publish format-standard has-post-thumbnail hentry category-kudos tag-enterpriseam tag-hc-brokerage tag-kudos tag-national-bank-of-egypt tag-nbk-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.7f8e2724-6f23-4253-be48-56b3f148a6cb.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- HC Brokerage was named the best forecaster of Egypt\u2019s fiscal balance <\/strong>by economics analysis provider FocusEconomics in its 2024 <a target=\"_blank\" href=\"https:\/\/www.focus-economics.com\/awards\/\" style=\"\" rel=\"noopener\">Best Economic Forecast Awards<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/630.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. HC has held onto the title for the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/886b44f9-ca8e-4c8c-8774-860250641204\/\" style=\"\" rel=\"noopener\">second year running<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- NBE tops Egypt syndicated loans league table in 1H 2024: <\/strong>The National Bank of Egypt (NBE) was named Egypt\u2019s best lead arranger, financing agent, and syndicated loans promoter during the first half of 2024, according to Bloomberg rankings, the bank said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/721.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3-<\/strong> <strong>NBK mutual funds took home three excellence awards:<\/strong> NBK Egypt\u2019s fund management arm, NBK Egypt Financial Investments, topped the rankings for mutual funds in Egypt for 1H 2024, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/808.pdf\" style=\"\" rel=\"noopener\">press release<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/808.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. Its Al Mizan Fund ranked first in balanced funds, while its Al Hayah Fund was the top-ranked Islamic fund and its Namaa Fund ranked second in equity funds.<\/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\/hc-brokerage\/\">HC Brokerage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-bank-of-egypt\/\">National Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nbk-egypt\/\">NBK Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"633249 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"633249\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/633249\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633249\" class=\"content-area-description single-story post-633249 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicSignatureCommunities#THEESTATESResidences\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/186.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"633250\" 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=\"633250\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/madboulys-presser-after-the-new-governments-first-cabinet-meeting-caught-the-attention-of-the-talk-shows\/\">\r\n                            Madbouly\u2019s presser after the new government\u2019s first cabinet meeting caught the attention of the talk shows                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/madboulys-presser-after-the-new-governments-first-cabinet-meeting-caught-the-attention-of-the-talk-shows\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The IMF's delay in discussing the third tranches of Egypt's loan agreement also squeezed in to get a mention on the airwaves.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Madbouly addre<\/strong><strong>sses key issues:<\/strong> Lamees El Hadidi praised the prime minister\u2019s press conference, highlighting how Madbouly tackled \u201call pressing concerns, from power load shedding and its end date, to fuel prices and their expected rise,\u201d (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=NPIT0TPaztE\" style=\"\" rel=\"noopener\">watch, runtime: 3:59<\/a>). \u201cHe also talked about the meds shortage and oil companies' arrears.\u201d El Hadidi added that \u201cthis is a good approach, and we hope it continues.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why did the IMF p<\/strong><strong>ush back the third tranche of our loan agreement?<\/strong> \u201cThe IMF has not officially disclosed the reasons behind the delay in discussing the disbursement of the USD 820 mn third tranche of its USD 8 bn loan to Egypt, now set for 29 July instead of today. However, there are several potential reasons,\u201d economist Medhat Nafei told Yahduth Fi Masr\u2019s Sherif Amer (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=992654895643255\" style=\"\" rel=\"noopener\">watch, runtime: 7:04<\/a>). Nafie went on to list the potential reasons, naming \u201cthe economic ministerial group reshuffle, or the country's failure to meet several key conditions of the program, possibly including fuel price hikes.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO ON THE AIRWAVES- <\/strong><strong>EGX\u2019s new<\/strong><strong> dialogue platform:<\/strong> After the EGX <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/834.png\" style=\"\" rel=\"noopener\">unveiled plans<\/a> to launch an online platform to \u201cto receive suggestions and community dialogue,\u201d EGX head Ahmed El Sheikh joined Osama Kamal to explain that how \u201claunching an electronic platform to receive suggestions expands community dialogue by reaching non-members of the stock exchange\u201d (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=ve9OWkelFfY\" style=\"\" rel=\"noopener\">watch, runtime: 11:55<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"633252\" 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=\"633252\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/emirati-egyptian-partnership-to-launch-usd-500-mn-nile-side-development-plus-talaat-moustafa-group-acwa-power-amea-power-elsewedy-admaius-concrete-puma\/\">\r\n                            Emirati-Egyptian partnership to launch USD 500 mn Nile-side development. PLUS: Talaat Moustafa Group,  ACWA Power + AMEA Power, Elsewedy, Admaius, Concrete, Puma                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/emirati-egyptian-partnership-to-launch-usd-500-mn-nile-side-development-plus-talaat-moustafa-group-acwa-power-amea-power-elsewedy-admaius-concrete-puma\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/emirati-egyptian-partnership-to-launch-usd-500-mn-nile-side-development-plus-talaat-moustafa-group-acwa-power-amea-power-elsewedy-admaius-concrete-puma\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/emirati-egyptian-partnership-to-launch-usd-500-mn-nile-side-development-plus-talaat-moustafa-group-acwa-power-amea-power-elsewedy-admaius-concrete-puma\/\">\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=Emirati-Egyptian partnership to launch USD 500 mn Nile-side development. PLUS: Talaat Moustafa Group,  ACWA Power + AMEA Power, Elsewedy, Admaius, Concrete, Puma&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/emirati-egyptian-partnership-to-launch-usd-500-mn-nile-side-development-plus-talaat-moustafa-group-acwa-power-amea-power-elsewedy-admaius-concrete-puma\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/emirati-egyptian-partnership-to-launch-usd-500-mn-nile-side-development-plus-talaat-moustafa-group-acwa-power-amea-power-elsewedy-admaius-concrete-puma\/&title=Emirati-Egyptian partnership to launch USD 500 mn Nile-side development. PLUS: Talaat Moustafa Group,  ACWA Power + AMEA Power, Elsewedy, Admaius, Concrete, Puma\">\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=Emirati-Egyptian+partnership+to+launch+USD+500+mn+Nile-side+development.+PLUS%3A+Talaat+Moustafa+Group%2C++ACWA+Power+%2B+AMEA+Power%2C+Elsewedy%2C+Admaius%2C+Concrete%2C+Puma+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F07%2F10%2Femirati-egyptian-partnership-to-launch-usd-500-mn-nile-side-development-plus-talaat-moustafa-group-acwa-power-amea-power-elsewedy-admaius-concrete-puma%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/emirati-egyptian-partnership-to-launch-usd-500-mn-nile-side-development-plus-talaat-moustafa-group-acwa-power-amea-power-elsewedy-admaius-concrete-puma\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/539.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"633253\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/emirati-egyptian-partnership-to-launch-usd-500-mn-nile-side-development-plus-talaat-moustafa-group-acwa-power-amea-power-elsewedy-admaius-concrete-puma\/539-jpg-27\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/539.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"539.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/539.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/539.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633252\" class=\"content-area-description single-story post-633252 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-abu-dhabi-islamic-bank tag-admaius-capital-partners tag-also-on-our-radar tag-concrete-fashion-group tag-electricity tag-elsewedy-electric tag-energy tag-enterpriseam tag-international-holding-company tag-investment-watch tag-real-estate tag-renewables tag-retail tag-solar-power tag-talaat-moustafa-group 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_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.86dd477a-bd5c-4225-8611-325dd637f8d8.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">REAL ESTATE -<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- Emirati-Egyptian partnership to set up a USD 500 mn project overlooking El Warraq: <\/strong>UAE-based KSH \u2014 affiliated with the <a target=\"_blank\" href=\"https:\/\/khalidia.ae\/\" style=\"\" rel=\"noopener\">Private Department of Sheikh Mohammed Bin Khalid Al Nahyan<\/a> \u2014 and the local <a target=\"_blank\" href=\"https:\/\/skg-holding.com\/\" style=\"\" rel=\"noopener\">Safwat Kaliouby Group<\/a> (SKG) will develop a 20k sqm plot in Giza\u2019s Tanash area overlooking El Warraq Island with EGP 24 bn (c. USD 500 mn) in investments, under a strategic partnership inked between the two sides according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/755.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The project will see the construction of three mixed-use towers and a five-star hotel over a four-year period. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The international press also took interest in the story: <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/egyptian-emirati-companies-sign-500-mln-real-estate-deal-egypt-2024-07-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- TMG\u2019s North Coast debut breaks records:<\/strong> Talaat Moustafa Group Holding\u2019s (TMG) North Coast project \u2014 dubbed SouthMed \u2014 garnered reservations worth EGP 200 bn (USD 4.2 bn) in the six working days since its launch, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/720.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. This made TMG \u201cthe fastest and top selling company of a single project launch in the MENA region.\u201d TMG <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/96227c50-8557-42b9-99fd-3f8aac12821e\/tmg-announces-its-first-venture-into-the-north-coast\" style=\"\" rel=\"noopener\">kicked off reservations<\/a> for SouthMed last week, with the project garnering EGP 60 bn (c. USD 1.3 bn) in reservations in the first 12 hours post-launch. The 23 mn sqm project is slated to see investments to the tune of EGP 1 tn.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bigger picture: <\/strong>The real estate developer raked in EGP 340 bn in total sales across its developments since the beginning of the year, more than seven times the figure achieved during the same period last year.<\/p><p class=\"tag-border-left\">ENERGY -<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>National grid to get 700 MW solar boost:<\/strong> Two solar power projects will begin feeding the national grid with 700 MW of power by the end of August, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/07\/08\/%D9%85%D8%B5%D8%A7%D8%AF%D8%B1-%D8%B1%D8%A8%D8%B7-700-%D9%85%D9%8A%D8%BA%D8%A7%D9%88%D8%A7%D8%B7-%D9%85%D9%86-%D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D8%A7%D9%84%D8%B4%D9%85%D8%B3%D9%8A%D8%A9-%D8%B9%D9%84%D9%89-%D8%B4%D8%A8%D9%83%D8%A9-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%A8%D9%86%D9%87%D8%A7%D9%8A%D8%A9-%D8%A3%D8%BA%D8%B3%D8%B7%D8%B3\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reports, citing unnamed Electricity Ministry sources. The two solar projects in question are ACWA Power\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/29b4d631-254c-4e80-9f2c-f01ebf194da5\" style=\"\" rel=\"noopener\">200 MW Kom Ombo solar farm<\/a> and AMEA Powers\u2019 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/3353d732-aa27-4d6d-95ba-2de58d5edd02\" style=\"\" rel=\"noopener\">500 MW Abydos plant<\/a> \u2014 both which collectively cost USD 700 mn in investments, according to the sources.The Egyptian Electricity Transmission Company will purchase the energy generated by the two solar plants for 25 years as per a previously-inked offtake agreement.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More to come:<\/strong> Another 1 GW of energy will feed into the national grid as wind power projects implemented by AMEA parent company Al Nowais and Orascom Construction come online in 1Q 2025, the sources added.<\/p><p class=\"tag-border-left\">M&amp;A WATCH-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It turns out that Elsewedy\u2019s newest shareholder is an arm of the Middle East\u2019s second<\/strong><strong> biggest company:<\/strong> Abu Dhabi-based electrical equipment manufacturer Electra Investment Holding, which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5b99033a-6043-45a7-aa07-f8a09c388613\/uae%25e2%2580%2599s-electra-snaps-up-20%2525-of%253cmark%253e-elsewedy%253c%2Fmark%253e-electric-for-usd-450-mn\" style=\"\" rel=\"noopener\">snapped up<\/a> 20% of Elsewedy Electric earlier this week, appears to be a subsidiary of 2PointZero Group, which is in turn a subsidiary of the International Holding Company (IHC), according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/779.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. The disclosure adds that near 20% of Elsewedy\u2019s shares will be transferred to 2PointZero today and settled no later than Monday, 15 July.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>2PointZero? <\/strong>The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f3b4b1a-9a7e-4d38-9099-8bef287578d8\/beltone,-chimera-part-of-new-abu-dhabi-holdco-with-%253eusd-27-bn-in-assets\" style=\"\" rel=\"noopener\">newly set up<\/a> holding company was established at the start of the year and is expected to hold the equivalent of USD 27 bn in assets \u2014 including Beltone Financial Holding, Chimera, and Lunate, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/195.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> announcing the launch from parent company IHC.<\/p><p class=\"tag-border-left\">INVESTMENT WATCH-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Admaius eyes more local investments: <\/strong>Rwanda-based private equity firm Admaius Capital Partners is looking into potential investments in the Egyptian market, namely in the healthcare, medicine, food, and fintech sectors, Managing Director Ahmed Rady told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%b4%d8%b1%d9%83%d8%a9-admaius-capital-%d8%aa%d8%b9%d8%aa%d8%b2%d9%85-%d8%a5%d8%b7%d9%84%d8%a7%d9%82-%d8%b5%d9%86%d8%af%d9%88%d9%82-%d8%a7%d8%b3%d8%aa%d8%ab%d9%85%d8%a7%d8%b1%d9%89\/\" style=\"\" rel=\"noopener\">Al<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%b4%d8%b1%d9%83%d8%a9-admaius-capital-%d8%aa%d8%b9%d8%aa%d8%b2%d9%85-%d8%a5%d8%b7%d9%84%d8%a7%d9%82-%d8%b5%d9%86%d8%af%d9%88%d9%82-%d8%a7%d8%b3%d8%aa%d8%ab%d9%85%d8%a7%d8%b1%d9%89\/\" style=\"\" rel=\"noopener\">Ma<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%b4%d8%b1%d9%83%d8%a9-admaius-capital-%d8%aa%d8%b9%d8%aa%d8%b2%d9%85-%d8%a5%d8%b7%d9%84%d8%a7%d9%82-%d8%b5%d9%86%d8%af%d9%88%d9%82-%d8%a7%d8%b3%d8%aa%d8%ab%d9%85%d8%a7%d8%b1%d9%89\/\" style=\"\" rel=\"noopener\">l<\/a>. He expects one transaction to wrap up this year and another to conclude next year. The firm wants to launch a new USD 600-700 mn investment fund before the end of the year. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Admaius entered the Egyptian market earlier this year through <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/206270c9-fb36-4c38-b53f-6b7418c6229b\/%253cmark%253eadmaius-%253c%2Fmark%253einks-strategic-partnership-with-local-pharma-player.-plus:-news-from-madinet-masr,-acdima,-social-housing-fund\" style=\"\" rel=\"noopener\">acquiring a stake in<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/206270c9-fb36-4c38-b53f-6b7418c6229b\/%253cmark%253eadmaius-%253c%2Fmark%253einks-strategic-partnership-with-local-pharma-player.-plus:-news-from-madinet-masr,-acdima,-social-housing-fund\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/206270c9-fb36-4c38-b53f-6b7418c6229b\/%253cmark%253eadmaius-%253c%2Fmark%253einks-strategic-partnership-with-local-pharma-player.-plus:-news-from-madinet-masr,-acdima,-social-housing-fund\" style=\"\" rel=\"noopener\">Parkville<\/a>. <\/p><p class=\"tag-border-left\">RETAIL -<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Concrete expands across the Gulf:<\/strong> Concrete Fashion Group launched a number of online stores in KSA, Qatar, Kuwait, and the UAE last month, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/07\/08\/1807170\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing Vice Chairman and Managing Director Alaa Arafa. The move comes ahead of opening up retail stores in those countries starting next year, Arafa said. <\/p><p class=\"tag-border-left\">MANUFACTURING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Made-in-Egypt Puma:<\/strong> Sportswear manufacturer Puma is looking into manufacturing its products in Egypt to meet local demand and export across the region, Puma Managing Director Johan Kuhlo said during a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02tnLY9ETCtNGX55rs2XEYNcpDZXPiz8JzJxubBG67xJGSXHHd7YS9Ytdc3fDGtz6al\" style=\"\" rel=\"noopener\">meeting<\/a> with Prime Minister Moustafa Madbouly. The company is also looking to expand locally and pour more investments into the local market.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-dhabi-islamic-bank\/\">Abu Dhabi Islamic Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/admaius-capital-partners\/\">Admaius Capital Partners<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/concrete-fashion-group\/\">Concrete Fashion Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elsewedy-electric\/\">Elsewedy Electric<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-holding-company\/\">International Holding Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/retail\/\">retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/solar-power\/\">solar power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/talaat-moustafa-group\/\">Talaat Moustafa Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"633254\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"633254\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/china-is-building-its-war-chest-for-a-sovereign-bond-market-intervention\/\">\r\n                            China is building its war chest for a sovereign bond market intervention                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/china-is-building-its-war-chest-for-a-sovereign-bond-market-intervention\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/833.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"633255\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/china-is-building-its-war-chest-for-a-sovereign-bond-market-intervention\/833-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/833.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"833.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/833.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/833.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633254\" class=\"content-area-description single-story post-633254 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.0d4504ac-16ea-4bda-a6f1-71bbaf2bb9d1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>China is gearing up to intervene in its sovereign bond market for the first time in decades <\/strong><strong>as yields on its debt are at record lows<\/strong>, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/8bbc185c-3fd2-438e-8651-a5cf56265e4e\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. Following weeks of <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/07\/03\/business\/china-bond-market-bank-crisis-svb-intl-hnk\/index.html\" style=\"\" rel=\"noopener\">expressing its concern<\/a> about record-low yields, the People\u2019s Bank of China is now moving to build up firepower to sell CPY hundreds of bns of sovereign bonds as it looks to cool off demand for the paper. The country\u2019s central bank will \u201ccontinue to borrow and sell the bonds on an open-ended and unsecured basis,\u201d according to the salmon-colored paper.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Demand for the sovereign bonds has been red-hot:<\/strong> Investors have been pouring into China\u2019s sovereign bonds as the country\u2019s economy stumbles due to an ongoing real estate market crisis and <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/02\/02\/investing\/chinese-stocks-fall-worst-week-in-years\/index.html\" style=\"\" rel=\"noopener\">volatility in its equities<\/a>. That\u2019s pushed yields on 10-year bonds below 2.4% for the majority of the year, while the country\u2019s central bank has said that the \u201cideal range\u201d for yields on these notes is between 2.5-3%. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s going to take more than a limited intervention:<\/strong> Although the signaling from the People\u2019s Bank of China has helped to some degree, pundits say the issue is more structural and is unlikely to be resolved entirely through a bond market intervention \u201cunless the intervention is massive.\u201d One Natixis senior economist tells the FT that the People\u2019s Bank of China will likely need to buy up \u201cat least 5% of outstanding government bonds \u2026 to make a significant difference.\u201d Altogether, that would be around CPY 1.5 tn worth of bonds.<\/p><p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are having another mixed morning<\/strong>, with Hong Kong\u2019s Hang Seng index and Japan\u2019s Nikkei both up, as China reports better-than-expected inflation data and Japan\u2019s corporate goods price index rises in line with expectations. South Korea\u2019s Kospi and the ASX 200 are both in the red. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wall Street futures were little changed<\/strong> in overnight trading after the S&amp;P 500 posted another record close, as traders celebrated Powell\u2019s signals for a potential rate cut soon.<\/p><p><a target=\"_blank\" id=\"t.547aed4f16b41df8d99d1046f52e614dea501b35\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28,466<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +14.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 48.03<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.13<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB<\/strong><strong>) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 48.02<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.12<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,780<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: -1.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,136<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: -4.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,078<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +0.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,577<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +16.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,140<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +5.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4.904<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3% (YTD: +8.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 84.85<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.35<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,367.90<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 57,860.60<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.9% (YTD: +37.0%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 0.2% at yesterday\u2019s close<\/strong> on turnover of EGP 3.5 bn (18% below the 90-day average). Local investors were the sole net buyers. The index is up 14.4% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>EFG Holding (+5.3%), GB Corp (+5.1%), and E-finance (+3.1%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Abu Qir Fertilizers (-2.8%), Sidi Kerir Petrochemicals (-2.8%), and AMOC (-2.5%).<\/p><p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Kouchouk is no longer representing Misr Ins. on TMG\u2019s board:<\/strong> Finance Minister Ahmed Kouchouk has resigned from representing Misr Ins. Company in Talaat Moustafa Group\u2019s (TMG) board, TMG said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/794.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- New investment minister resigns from Edita\u2019s board:<\/strong> Newly-appointed Investment and Foreign Trade Minister Hassan El Khatib has submitted his resignation from Edita\u2019s board and the associated committees, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/767.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"633256\" 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=\"633256\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/cia-director-burns-discusses-gaza-with-el-sisi-in-cairo\/\">\r\n                            CIA Director Burns discusses Gaza with El Sisi in Cairo                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/cia-director-burns-discusses-gaza-with-el-sisi-in-cairo\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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El Sisi also highlighted the importance of granting \u201cunfettered access\u201d for relief to Gaza and enforcing the two-state solution. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another top US official is also Cairo-bound:<\/strong> Assistant Secretary of State for Near Eastern Affairs Barbara Leaf is set to visit Egypt over the coming few days as part of a wider trip that will see her visit the UAE, Qatar, Jordan, Israel and the West Bank, and Italy between 8-14 July, according to a <a target=\"_blank\" href=\"https:\/\/www.state.gov\/assistant-secretary-barbara-a-leafs-travel\/\" style=\"\" rel=\"noopener\">statement<\/a> from the US Department of State. Leaf will meet with government officials to discuss efforts to secure a ceasefire, the release of hostages, and ensure the entry of aid into Gaza. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egyptian officials are also heading to Qatar for Gaza talks:<\/strong> Intelligence chief Abbas Kamel, CIA Director Willian Burns, and an Israeli delegation will land in Doha today \u201con a mission to bring viewpoints closer between Hamas and Israel in order to reach a truce agreement as soon as possible,\" <a target=\"_blank\" href=\"https:\/\/alqaheranews.net\/news\/87030\/%D8%A7%D8%AC%D8%AA%D9%85%D8%A7%D8%B9-%D8%B1%D8%A8%D8%A7%D8%B9%D9%8A-%D9%8A%D8%B6%D9%85-%D9%88%D9%81%D9%88%D8%AF-%D9%85%D8%B5%D8%B1-%D9%88%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D8%A7-%D9%88%D9%82%D8%B7%D8%B1-%D9%88%D8%A5%D8%B3%D8%B1%D8%A7%D8%A6%D9%8A%D9%84-%D8%A8%D8%A7%D9%84%D8%AF%D9%88%D8%AD%D8%A9-%D8%BA%D8%AF%D8%A7\" style=\"\" rel=\"noopener\">Al Qahera News<\/a> reports, citing an unnamed high-level source.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"633258\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">13<\/div>\r\n    \r\n                        <p class=\"f-graphik\">HARDHAT<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/a-look-back-at-egypts-energy-mix-over-the-last-ten-years\/\"> \r\n                            A look back at Egypt\u2019s energy mix over the last ten years<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/a-look-back-at-egypts-energy-mix-over-the-last-ten-years\/\" 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\/hardhats\/a-look-back-at-egypts-energy-mix-over-the-last-ten-years\/')\">\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\/hardhats\/a-look-back-at-egypts-energy-mix-over-the-last-ten-years\/\">\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=A look back at Egypt\u2019s energy mix over the last ten years&url=https:\/\/enterpriseam.com\/egypt\/hardhats\/a-look-back-at-egypts-energy-mix-over-the-last-ten-years\/\">\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\/hardhats\/a-look-back-at-egypts-energy-mix-over-the-last-ten-years\/&title=A look back at Egypt\u2019s energy mix over the last ten years\">\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=A+look+back+at+Egypt%E2%80%99s+energy+mix+over+the+last+ten+years+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fhardhats%2Fa-look-back-at-egypts-energy-mix-over-the-last-ten-years%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>                    <\/div>\r\n    \r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/a-look-back-at-egypts-energy-mix-over-the-last-ten-years\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/787.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"633259\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/a-look-back-at-egypts-energy-mix-over-the-last-ten-years\/787-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/787.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"787.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/787.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/787.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-633258\" class=\"content-area-description post-633258 hardhat type-hardhat status-publish has-post-thumbnail hentry category-hardhat tag-electricity tag-energy tag-enterprise-hardhat tag-enterpriseam tag-hardhat tag-oil-and-gas tag-renewables wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The road to the gas shortages and electricity blackouts: <\/strong>With the entire nation suffering from rolling blackouts thanks to gas shortages, it is important to look at the years leading up to the blackouts to see what led us to this point in time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>2023 was somewhat exceptional:<\/strong> The Electricity Ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7db6d0ec-6a2c-429f-b240-a34fa57dfddf\" style=\"\" rel=\"noopener\">began reducing the electrical load in<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7db6d0ec-6a2c-429f-b240-a34fa57dfddf\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7db6d0ec-6a2c-429f-b240-a34fa57dfddf\" style=\"\" rel=\"noopener\">July 2023<\/a> to ration the consumption of natural gas production. The power cuts were originally blamed on summer heat waves, but after temperatures have fallen, officials noted that the one-hour cut saves the country some USD 300 mn per month. Our gas supply was dealt another blow in October when Chevron temporarily halted shipments of Israeli gas from its Tamar field due to the ongoing war in Gaza.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s energy portfolio<\/strong> was a mixed bag in the decade leading up to 2023, between falling oil output and fluctuating LNG production, according to the Energy Institute\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/619.pdf\" style=\"\" rel=\"noopener\">2024 Statistical Review of World Energy (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>LNG production down:<\/strong> LNG output fell 11.5% y-o-y in 2023 to 57.1 bn cubic meters (bcm). At the same time, LNG consumption grew at an annualized rate of 1.9% in the ten years leading up to 2023, when consumption hovered at some 60 bcm. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A hit for ou<\/strong><strong>r LNG exports:<\/strong> After growing at an annual rate of 2.3% between 2013 and 2023, our LNG exports took a massive hit in 2023, falling 46.8% to sit at 4.9 bcm. After becoming a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b05357d8-d636-4372-a069-cf77d948b1e7\/egypt%25e2%2580%2599s-lng-exports-are-maxed-out\" style=\"\" rel=\"noopener\">net exporter<\/a> of LNG in 2018, Egypt has been trying to position itself as an important LNG exporter to Europe and to fully utilize the 12 mn tons a year capacity from its two liquefaction plants in Damietta and Idku. However, a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/846ecdd4-0a16-40f5-8c1e-ef52f3265a06\" style=\"\" rel=\"noopener\">fall<\/a> in domestic gas production caused our exports to take a hit. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More electricity production, but it\u2019s still not enough:<\/strong> Electricity production grew at an annualized rate of 2.9% in the ten years leading up to 2023 to settle at some 220.1 terawatt hours (twh), the report showed. Despite this growth, there remains quite the gap between supply and demand \u2014 our electricity consumption <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/36d5ff0c-c1db-44e1-bdff-b5742c358939\/the-blackouts-aren%25e2%2580%2599t-going-anywhere-for-a-while\" style=\"\" rel=\"noopener\">was up some 4.4k MW last year<\/a> in comparison to the year before due to higher temperatures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown: <\/strong>Natural gas accounted for the lion\u2019s share of Egypt\u2019s electric output making up 81.2%, followed by hydroelectricity and other renewables (11.3%) and oil (7.5%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It also means less production: <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/69fde225-bfd3-4582-aa34-f6fbcaf4bdc5\" style=\"\" rel=\"noopener\">Fertilizer companies<\/a> have been struggling to keep the lights on and operations ongoing amid the ongoing gas shortage, with many having to pause operations time and time again. Meanwhile, ceramics producers reported <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c3fa156-7ef6-4c45-8efe-eb3a995a50e3\/%253cmark%253e%253c%2Fmark%253ehow%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eegypt%253cmark%253e%253c%2Fmark%253e%25e2%2580%2599%253cmark%253e%253c%2Fmark%253es%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eceramics%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253esector%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eis%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253enavigating%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253echallenges%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253estemming%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253efrom%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253enatgas%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eshortages%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">noticeable declines<\/a> in production due to the gas shortage. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So what\u2019s the plan? <\/strong>Egypt has resorted to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/625cba2a-fe2a-4310-abfb-4185dbf0ff2f\" style=\"\" rel=\"noopener\">importing LNG<\/a> in order to bridge the gap between local production and demand for electricity generation, in a turnaround from its previous status as a net exporter of the fuel. State gas firm <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6a6ce846-5bb8-4638-ba08-f657afe1960e\/egypt-eu-investment-conference-round-%232\" style=\"\" rel=\"noopener\">EGAS recently secured some 20 LNG shipments<\/a> as it works to ensure it has sufficient supplies to keep the lights on during the current period of increased demand expected to last till September. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What about our oil production? <\/strong>Egypt\u2019s oil production declined at an annualized rate of 1.5% between 2013 and 2023, standing at some 610k barrels per day (bpd) at the end of 2023, the report said. The figure contrasts with a 1.1% increase in global oil output as non-OPEC producers ramped up production throughout the decade. Despite oil consumption declining at a yearly rate of 0.3% over the decade, Egypt consumed some 742k bpd of oil in 2023, yielding a 132k bpd deficit. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And then there\u2019s Egypt\u2019<\/strong><strong>s emissions record: <\/strong>Carbon emissions grew at an annualized rate of 1.1% between 2013 and 2023 \u2014 emissions stood at some 279.3 mn tons of CO2 equivalent by 2023, the report showed. Our emissions increased at a rate faster than the 0.8% global trend. Nevertheless Egypt\u2019s carbon footprint was considerably lower than our Gulf neighbors \u2014 KSA produced 725.9 mn tons of carbon emissions in 2023 and the UAE produced 340.8 mn tons. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt is lagging slightly behind in terms of its green transition:<\/strong> Renewables consumption grew at an annualized rate of 4.8% in the ten years leading up to 2023 in Egypt, standing at some 0.23 exajoules by the decade\u2019s end. The same period saw a 5.5% per annum ramp up in renewable energy consumption globally to 85.49 exajoules, the report said. <\/p>\n<p class=\"tag-border-left\">THE BIGGER PICTURE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Regionally, oil production took a hit: <\/strong>Many regional states underwent notable dips in hydrocarbon production between 2022 and 2023 as OPEC+ production cuts came into play \u2014 GCC oil giants and OPEC members KSA (6.6%), Kuwait (4.2%), and the UAE (2.5%) all experienced dips in output. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dip in production to last? <\/strong>OPEC+ has recently <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/oil-inches-higher-summer-demand-outlook-2024-07-01\/\" style=\"\" rel=\"noopener\">extended its cuts into 2025<\/a> in efforts to stimulate demand. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Adeer to set up mixed-use development in East Cairo alongside Paragon: <\/strong>Real estate company Adeer <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fca4d6e1-abaa-473c-bd51-a625eeec8874\/adeer-to-set-up-mixed-use-development-in-east-cairo-alongside-paragon\" style=\"\" rel=\"noopener\">is working<\/a> with local real estate player Paragon Developments to build a mixed-use development in eastern part of Cairo. <\/li>\n<li><strong>R<\/strong><strong>eal Estate Development Chamber aims to work with gov\u2019t on affordable housing:<\/strong> The Federation of Egyptian Industries\u2019 Real Estate Development Chamber is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1cdd96d5-8ef6-4807-9451-31498a70e53f\/fedcoc-calls-for-shops-to-open,-close-later-under-new-opening-hours\" style=\"\" rel=\"noopener\">planning<\/a> to propose an integrated affordable housing initiative that would see the government facilitate private sector development of affordable housing projects.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hardhat\/\">Hardhat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"633260\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/633260\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633260\" class=\"content-area-description single-story post-633260 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"> 9-18 July: Act Financial IPO subscription period for institutional investors. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">9-23 July: Act Financial IPO subscription period for retail investors. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10 July (Wednesday): CBE and Capmas to publish inflation data for June.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-11 July (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0DcrwZTxB6cn64npMMrroZYZmhRyJNHjK3hVrWxuo7DDXXETR8mqBnTAsF21CutYul\" style=\"\">The Japan-Arab Economic Forum<\/a><\/span><span style=\"font-weight:400;\">, Tokyo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">11 July (Thursday): National holiday in observance of Islamic New Year.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16-17 July (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egyptminingforum.com\/\" style=\"\">The Egypt Mining Forum<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">18 July (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23 July (Tuesday): Revolution Day (national holiday).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4-5 August (Monday-Tuesday): Egypt Expat Forum.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-5 September (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypt-air-show.com\/\" style=\"\">Egypt International Airshow<\/a><\/span><span style=\"font-weight:400;\">, El Alamein International Airport.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 September (Sunday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25-26 September (Wednesday-Thursday): The Asian Infrastructure Investment Bank\u2019s (AIIB) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aiib.org\/en\/news-events\/events\/annual-meetings\/2024\/index.html\" style=\"\">2024 annual meeting<\/a><\/span><span style=\"font-weight:400;\">, Samarkand, Uzbekistan.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 October (Sunday): Armed Forces Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17 October (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-17 October (Sunday-Thursday): Cairo Water Week, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cairowaterweek.eg\/\" style=\"\">Water and Climate: Building Resilient Communities<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-27 October (Monday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.imfconnect.org\/content\/imf\/en\/annual-meetings\/FutureMeetings.html\" style=\"\">The World Bank and IMF annual meetings<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 September (Monday): Ban on sugar exports expiration.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-8 November (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/wuf.unhabitat.org\/\" style=\"\">World Urban Forum<\/a><\/span><span>, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypt-energy.com\/en\/home.html\" style=\"\">Egypt Energy Show<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>June 2024: Gov\u2019t expects to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/news\/story\/cfdc99d8-291f-4b7c-8af8-8e1cccc74de5\" style=\"\">finalize sale<\/a><\/span><span style=\"font-weight:400;\"> of Beni Suef combined-cycle power plant.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1H 2024: Gov\u2019t expects to finalize sale of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/317bf16c-ec16-489f-ac56-05ad40a04693\/another-usd-820-mn-coming-our-way-from-the-imf\" style=\"\">four water desalination plants<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2H 2024: Gov\u2019t to launch the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8f7fd9b9-a159-4b31-b974-f809d55f55d9\/egyptian-telecom-providers-suspend-e-wallet-fx-payments\" style=\"\">Cairo Ring Road BRT buses<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3Q 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid04Z7JWbGbYGqFTr8kF2XNgc5Dq2cUR3hn25JDryhDjLnPJkYgaKaqbwzQr6A4QgB2l\" style=\"\">Egyptian-Armenian Joint Committee.<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>November 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LLPJRjsu6SZLwtRHuLmCQxoAZB3xaXVXH8aYkMSEH3ae4aW6JCZaPe5h5u9nKmcRl\" style=\"\">Egypt to host<\/a><\/span><span style=\"font-weight:400;\"> the World Urban Forum (WUF12).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2024: The launch of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sis.gov.eg\/Story\/192175\/Trial-Operation-of-the-Sokhna-El-Alamein-Matrouh-High-Speed-Train-Starts-by-the-End-of-this-Year?lang=en-us\" style=\"\">high-speed train<\/a><\/span><span style=\"font-weight:400;\"> line linking Ain Sokhna with Al Alamein City. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2024: Shalateen Mining Company to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/74373364-7f95-4157-9090-67ee1584c341\/nuca-to-hand-out-plots-to-four-industrial-developers-within-days.-plus:-news-from-bluev,-tmg,-and-tabreed\" style=\"\">launch a gold exploration tender<\/a><\/span><span style=\"font-weight:400;\"> in the Eastern Desert.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">July 2025: The first operational trail of Egypt-KSA electricity interconnection line.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2Q 2025: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad18b775-3e22-4e6b-b4fc-9dd30f4b85ad\/abu-dhabi-ports-to-build-and-run%253cmark%253e-safaga-terminal%253c%2Fmark%253e,-cruise-ship-infrastructure\" style=\"\">Safaga Terminal 2<\/a><\/span><span> to start operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20 January-7 February: Egypt to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f9a5a94-cc1c-4fc1-b8c6-7c02d15cae3b\/ramadan-kareem\" style=\"\">host the African Games<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2027: Trial operations at the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52aa0e65-5b6f-4c84-aa49-70ac4152bb87\" style=\"\">Dabaa nuclear power plant<\/a><\/span><span style=\"font-weight:400;\"> expected to take place.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>New schools in the pipeline | Cabinet updates | Nile-side living | Ezz Steel back in the green | Glass companies merge<\/p>\n","protected":false},"featured_media":633230,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-633229","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"b8b65d7e-5878-4aa7-95d5-009405735315","teaser":"New schools in the pipeline | Cabinet updates | Nile-side living | Ezz Steel back in the green | Glass companies merge","photo_url":"https:\/\/ent.news\/2024\/2\/94.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>IMF Executive Board pushes meeting to greenlight USD 820 mn tranche pushed to 29 July - 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\/imf-executive-board-pushes-meeting-to-greenlight-usd-820-mn-tranche-pushed-to-29-july\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF Executive Board pushes meeting to greenlight USD 820 mn tranche pushed to 29 July\" \/>\n<meta property=\"og:description\" content=\"New schools in the pipeline | Cabinet updates | Nile-side living | Ezz Steel back in the green | Glass companies merge\" \/>\n<meta property=\"og:url\" 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