{"id":633421,"date":"2024-07-15T00:00:00","date_gmt":"2024-07-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=633421"},"modified":"2025-12-17T13:16:52","modified_gmt":"2025-12-17T13:16:52","slug":"cbe-to-keep-rates-unchanged-on-thursday-enterprise-poll-2","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/cbe-to-keep-rates-unchanged-on-thursday-enterprise-poll-2\/","title":{"rendered":"CBE to keep rates unchanged on Thursday - Enterprise poll"},"content":{"rendered":"<section id=\"633423\" 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=\"633423\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/15\/mps-to-vote-on-new-cabinets-policy-on-thursday\/280-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/280.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"280.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/280.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/280.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633423\" class=\"content-area-description single-story post-633423 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-cabinet-watch 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\/.2d820c12-a669-4b83-a39b-e2f8893a14e4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, everyone. <\/strong>The news flow is showing no sign of slowing down as we sit tight waiting for the central bank\u2019s Monetary Policy Committee to review rates and the House to vote on the new Madbouly government\u2019s policy, both of which are scheduled for Thursday. <\/p><p class=\"tag-border-left\">HAPPENING THIS WEEK-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#1- It\u2019s interest rate week: <\/strong>The central bank\u2019s Monetary Policy Committee will meet on Thursday to review rates after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dcf6e23c-70a9-499b-bb2c-467f1a22252b\/cbe-leaves-interest-rates-unchanged-in-line-with-expectations\" style=\"\" rel=\"noopener\">leaving key rates unchanged<\/a> when it last met in May. It is looking like another uneventful meeting with all of the analysts we spoke to for our customary poll penciling in a hold. Read the full story in the news well, below. <\/p><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>MPs to vote on new gov\u2019t policy on Thursda<\/strong><strong>y: <\/strong>The House of Representatives will vote on the new Madbouly government\u2019s policy on Thursday, after the vote was moved up from Sunday, 21 July. The ad hoc committee reviewing the new cabinet\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/60fef4bb-7de6-4a00-bf5a-e9ea88661f8e\/egypt%25e2%2580%2599s-new-cabinet%25e2%2580%2599s-goals-for-the-next-three-years-and-how-they-can-be-achieved\" style=\"\" rel=\"noopener\">policy<\/a> will wrap up its meetings today.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#3- Egypt Mining Forum to kick off tomorrow:<\/strong> The two-day <a target=\"_blank\" href=\"https:\/\/www.egyptminingforum.com\/\" style=\"\" rel=\"noopener\">Egypt Mining Forum<\/a> kicks off tomorrow at the Nile Ritz-Carlton, bringing together over 4k attendees for 15 sessions with over 50 speakers. You can register to attend <a target=\"_blank\" href=\"https:\/\/www.egyptminingforum.com\/visitor-registration\/?color=orange\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Can\u2019t wait until tomorrow to get your mining fix? <\/strong>One of the headline speakers for the event is LSE- and TSX-listed gold miner Centamin CEO Martin Horgan, who sat down with us for today\u2019s issue to tell us more about the company\u2019s operations in the country and its plans going forward. Check out the story in the news well, below.<\/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\"> <strong>#1-<\/strong><strong>Gov\u2019t looks into leasing a second FSRU: <\/strong>The Oil Ministry is studying the possibility of leasing another floating storage regasification unit (FSRU) in Ain Sokhna to meet the need for additional quantities of natural gas, newly-appointed Oil Minister Karim Badawi told the House\u2019s Parliamentary Committee while delivering his <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0KLYxHKE9VdHraUMXrU6adxf6zyFbwh3WcirBEK3yR1Vd7QG7hJbCrX9zVFkgVasfl\" style=\"\" rel=\"noopener\">policy statement<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Higher demand: <\/strong>Our energy consumption has surpassed 37.3 GW a day, Prime Minister Moustafa Madbouly <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0te3NZhUCe9dgTQwPbxpdde8TCwNoRsVMXidQoVgKmKJH4YoEdyiRYxWbd3AaxY4Ll\" style=\"\" rel=\"noopener\">said<\/a>. During the fiscal year 2022-2023, Egypt\u2019s peak electricity consumption was at 34.2 GW. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Could renewables be the answer? <\/strong>\u201cThe real solution is working to introduce the largest possible amount of new and renewable energy into the national grid,\u201d Madbouly said during a renewables-centered meeting with Emirati officials. \u201cThe Egyptian and Emirati sides are working to introduce some 4 GW of renewable energy into the national grid by next summer,\u201d he added. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#2- <\/strong><strong>An update on the Nile Fund for Industrial Investment: <\/strong><a target=\"_blank\" href=\"https:\/\/www.cf-holding.com\/Ccs.aspx\" style=\"\" rel=\"noopener\">Cairo Capital Securities (CCS)<\/a>, the brokerage arm of <a target=\"_blank\" href=\"https:\/\/www.cf-holding.com\/\" style=\"\" rel=\"noopener\">Cairo Financial Holding<\/a>, wants to launch its newly-launched <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/110bb791-3d28-419f-8c6e-353dbbb04a3f\/smes-are-getting-a-shot-in-the-arm-from-a-new-industrial%253cmark%253e-fund%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">Nile Fund for Industrial Investment<\/a> on the EGX by the end of the year, CCS Head of Research Shady Sharaf told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/07\/14\/1808449\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The firm is currently in the final stages of setting up the company that will manage the industrial fund. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The fund will be launched on the bourse with an initial value of EGP 2.5-3 bn and is currently eyeing 15 investments to be announced over the coming month, with a particular focus on motor manufacturing and the chemical industry, Sharaf told Borsa.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The fund was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/110bb791-3d28-419f-8c6e-353dbbb04a3f\/smes-are-getting-a-shot-in-the-arm-from-a-new%253cmark%253e-industrial%253c%2Fmark%253e%253cmark%253e-fund%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">unveiled<\/a> by CCS and the National Initiative for Developing Egyptian Industry (Ebda) in May, with the aim of investing in all industrial sectors to ramp up exports and lower the country\u2019s import bill.<\/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\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s another warm day in Cairo<\/strong>, with a high of 35\u00b0C and a low of 25\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s cooler in Alexandria<\/strong>, with a high of 33\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>** 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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing, we looked at the state\u2019s component-based scheme for export support to bolster localization efforts. Check out the story <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/927f23f5-093d-4aac-a089-0ed6b7577704\/%253cmark%253ethe%253c%2Fmark%253e-lowdown%253cmark%253e-on%253c%2Fmark%253e%253cmark%253ethe%253c%2Fmark%253e-state%25e2%2580%2599s-component-based-scheme-for%253cmark%253e-export%253c%2Fmark%253e%253cmark%253e-support%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#1- The first of our EU funds to land in state coffers over the coming months: <\/strong>The EUR 1 bn in macro-financial assistance we\u2019re getting from the EU as part of our EUR 7.4 bn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/183954ef-4dc7-49c8-9499-743e77de1e74\/eu-pledges-eur-7.4-bn-aid-package-for-egypt\" style=\"\" rel=\"noopener\">financing package<\/a> should be arriving in September or October, EU Ambassador to Cairo Christian Berger told MENA news agency<strong>.<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Representatives from 23 local <\/strong><strong>readymade garments <\/strong><strong>exporters will be heading to Germany<\/strong> at the end of the month as part of a promotional tour aimed at tapping new export markets, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/07\/14\/1808801\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing the head of the Apparel Export Council of Egypt Marie Bishara. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"tag-border-left\">DATA POINT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Gold production was u<\/strong><strong>p nearly 16.5%<\/strong><strong> y-o-y to <\/strong><strong>559k <\/strong><strong>oz i<\/strong><strong>n the last fi<\/strong><strong>scal year<\/strong> and the Oil Ministry is planning to increase it further to 800k oz by 2030, the ministry said in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0KLYxHKE9VdHraUMXrU6adxf6zyFbwh3WcirBEK3yR1Vd7QG7hJbCrX9zVFkgVasfl\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The attempted assassination of former US President Donald Trump is getting a lot of play <\/strong><strong>in the foreign press<\/strong>, while sports is everywhere as major summer tournaments wrap. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US President Joe Biden addressed his nation from the Oval Office to condemn the <\/strong><strong>attack<\/strong>, saying the country needs to \u201clower the temperature in our politics\u201d after the FBI suggested Donald Trump\u2019s shooting was a one-man show and did not seem to be part of a larger plot. (<a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2024\/07\/14\/us\/trump-shooting-news-biden\" style=\"\" rel=\"noopener\">The New York Times<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Trump seemed to be in good shape as he landed in Milwaukee<\/strong>, <strong>where he will be formally <\/strong><strong>declared<\/strong> the Republican candidate for the presidency. The Republican National Convention gets underway today and runs through Thursday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN SPORTS NEWS- Spain clinched the Euro 2024 title <\/strong>after a late goal from Mikel Oyarzabal, handing England its second final defeat in three years. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/42748195-7e46-4f65-b9c1-b8078beaa266\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/soccer\/spain-strike-late-beat-england-2-1-win-euro-2024-2024-07-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/football\/article\/2024\/jul\/14\/spain-england-euro-2024-final-european-championship-football\" style=\"\" rel=\"noopener\">The Guardian<\/a>) <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A good day for Spaniards everywhere: <\/strong>21-year-old Carlos Alcaraz also bagged his second Wimbledon title in a row \u2014 and his fourth Grand Slam \u2014 after a dominant showing against Novak Djokovic. (<a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/sports\/2024\/07\/14\/wimbledon-score-live-updates\/#link-HPOW45WBN5FDFPMW62OXJATKWU\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/sport\/article\/2024\/jul\/14\/carlos-alcaraz-novak-djokovic-wimbledon-mens-singles-final-match-report\" style=\"\" rel=\"noopener\">The Guardian<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Copa America final is underway after a delay of over 75 minutes<\/strong> due to trouble from fans outside of the stadium. The match remains goalless as of dispatch time. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN THE BUSINESS PRESS- Google parent Alphabet is in advanced talks to acquire Israeli <\/strong><strong>cybersecurity startup Wiz for USD 23 bn <\/strong>in what would be its biggest acquisition yet, the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/deals\/google-near-23-billion-deal-for-cybersecurity-startup-wiz-622edf1a?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> reports. This comes weeks after a potential takeover of online software marketing firm Hubspot <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/google-parent-alphabet-shelves-interestcnbc\" style=\"\" rel=\"noopener\">fell through<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a busy week for earnings: <\/strong>BlackRock and Goldman Sachs will report 2Q results today, with Bank of America, Morgan Stanley, BHP, Netflix, Novartis, Burberry, and Schlumberger among the many expected to follow suit through Friday. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And in data: <\/strong>We\u2019ll see consumer inflation figures from Canada (Tuesday) and the EU and UK (both Wednesday). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The European Central Bank will make its interest rate decision <\/strong>on Thursday. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CLOSER TO HOME- Hamas has reportedly not withdrawn from ceasefire talks despite <\/strong><strong>Israel\u2019s deadly attacks in Gaza over the weekend<\/strong>, which Israel claimed targeted the group\u2019s military head, Mohammed Deif. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/hamas-says-it-has-not-withdrawn-ceasefire-talks-after-latest-israeli-attacks-2024-07-14\/\" style=\"\" rel=\"noopener\">Reuters<\/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\/2495.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue:<\/strong> We continue our deep-dive into language programs offered by embassy-sponsored cultural institutes in a part II looking into how they leverage market trends, deal with headwinds, and their road ahead.<\/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\/cabinet-watch\/\">cabinet watch<\/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=\"633425 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=\"633425\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/15\/633425\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633425\" class=\"content-area-description single-story post-633425 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=\"633426\" 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=\"633426\">\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\">POLL<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/15\/cbe-to-hold-rates-steady-on-thursday-poll\/\">\r\n                            Egypt\u2019s central bank expected to leave interest rates unchanged when it meets later this week                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/15\/cbe-to-hold-rates-steady-on-thursday-poll\/\" 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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All 13 of the analysts and economists we surveyed see the Monetary Policy Committee (MPC) holding rates steady.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where rates currently stand: <\/strong>The overnight deposit rate stands at 27.25%, the overnight lending rate at 28.25%, and the main operation and disc. rates at 27.75%. The MPC delivered a jumbo <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac569e2c-c6f2-480e-bdaa-3f1cd4f81d05\/\" style=\"\" rel=\"noopener\">600 bps rate hike<\/a> following a surprise monetary policy meeting in March, which coincided with the float of the EGP and a bigger package from the IMF. The central bank <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dcf6e23c-70a9-499b-bb2c-467f1a22252b\/cbe-leaves-interest-rates-unchanged-in-line-with-expectations\" style=\"\" rel=\"noopener\">left rates unchanged<\/a> when it last met in May, citing a slowdown in growth rates and cooling inflation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale:<\/strong> \u201cJune\u2019s inflation figures were more positive than anticipated. We expected the impact of subsidized bread price hikes to be harsher,\u201d Al Ahly Pharos analyst Esraa Ahmed told Enterprise. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Annual headline inflation cooled for the fourth consecutive month in June, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59de79e9-0607-4e59-836f-e69920eda138\/annual%253cmark%253e-inflation%253c%2Fmark%253e-falls-to-lowest-level-in-17-months\" style=\"\" rel=\"noopener\">hitting a 17-month low of<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59de79e9-0607-4e59-836f-e69920eda138\/annual%253cmark%253e-inflation%253c%2Fmark%253e-falls-to-lowest-level-in-17-months\" style=\"\" rel=\"noopener\">27.5%<\/a> in urban areas, down from 28.1% in May. This came despite fears of renewed inflationary pressures following a historic increase in subsidized bread prices. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>If inflation data is so positive, why a hold and not a cut? <\/strong>\u201cAlthough inflation has decreased, it remains relatively high,\u201d Esraa said. The CBE is likely waiting to see further slowdown in inflation rates as it \u201cmonitors the impact of expected subsidy cuts on fuel and electricity in the short term,\u201d EFG Hermes chief economist Mohamed Abu Basha told us. CI Capital\u2019s Sara Saada expects inflation to fall within the CBE\u2019s target of 7% (\u00b12%) in 1H 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Apart from inflation<\/strong>, recent positive shifts in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/90a188ae-46ce-489e-8d80-a7aeb264bc28\/%253cmark%253eremittances%253c%2Fmark%253e-surge-73.8%2525-y-o-y-in-may\" style=\"\" rel=\"noopener\">remittances<\/a> and foreign investments in debt instruments, following the landmark Ras El Hekma agreement and commitments from international partners \u2014 the IMF, the EU, and the World Bank \u2014 support the case for keeping rates unchanged, according to Zilla Capital\u2019s Aya Zoheir. \u201cI believe this momentum will continue as international rating agencies improve their outlook on the Egyptian economy,\u201d Zohair told Enterprise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not the right time for rate cuts yet:<\/strong> Most of the analysts we spoke to see the CBE easing monetary policy in late 2024 or early 2025. \u201cOur base case is for the CBE to start the easing cycle in 2025, but we don't rule out a rate cut in 4Q 2024,\u201d Ahmed Hafez, Beltone Holding\u2019s head of research, told us. \u201cWe\u2019re penciling in a 700-bps cut in 2025, but there could be room for more aggressive easing up to 10 percentage points,\u201d Hafez added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What would push the CBE to start cutting rates?<\/strong> Economist Hany Abou El Fotouh outlined several factors that could influence the CBE\u2019s decision to start cutting interest rates \u2014 should inflation continue to ease and the exchange rate remains stable \u2014 global interest rates, commodity prices, and economic growth. \u201cA decrease in global interest rates may encourage the central bank to cut rates as well,\u201d he told Enterprise, adding that stable or dropping global commodity prices could also alleviate inflationary pressures, further pushing the central bank towards the path to monetary easing. Meanwhile, strong economic growth will translate to more Egyptian exports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also playing a role: <\/strong>Domestic factors such as \u201cgovernment spending, taxes, and structural reforms affect inflation and economic expectations, indirectly influencing the central bank's decision on interest rates,\u201d Abo El Fotouh explained. <\/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\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/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\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/poll\/\">POLL<\/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=\"633428\" class=\"issue-section \">\n<div 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   <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Coffee With<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/15\/coffee-with-martin-horgan-ceo-of-centamin\/\">\r\n                            Coffee With: Martin Horgan, CEO of Centamin                        <\/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\/15\/coffee-with-martin-horgan-ceo-of-centamin\/\" target=\"_blank\">\n                    Open in new tab               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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/15\/coffee-with-martin-horgan-ceo-of-centamin\/1020-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1020.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1020.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1020.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1020.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633429\" class=\"content-area-description single-story post-633429 post type-post status-publish format-standard has-post-thumbnail hentry category-agreements-and-mous-totalling-eur-67-7-bn-inked-at-egypt-eu-investment-conference tag-centamin tag-coffee-with tag-enterpriseam tag-gold tag-mining 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\/.f81bcce2-5aa0-4537-b2b4-5c9745cb89f9.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Coffee With: Martin Ho<\/strong><strong>rgan, CEO of Centamin:<\/strong> LSE- and TSX-listed gold miner <a target=\"_blank\" href=\"https:\/\/www.centamin.com\/\" style=\"\" rel=\"noopener\">Centamin<\/a> is a major player in the Egyptian gold mining industry and operates the <a target=\"_blank\" href=\"https:\/\/www.centamin.com\/assets\/sukari-gold-mine\/\" style=\"\" rel=\"noopener\">Sukari mine<\/a> in the Eastern desert \u2014 the country\u2019s largest.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We sat down with CEO Martin<\/strong><strong> Horgan (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/martin-horgan-038b298\/?originalSubdomain=uk\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>) to discuss the company\u2019s plans inside<\/strong><strong> and outside of Egypt<\/strong>, the prospects for Egypt\u2019s mining sector, as well as what\u2019s on the horizon for gold markets. Our conversation with Horgan took place in the run-up to the two-day <a target=\"_blank\" href=\"https:\/\/www.egyptminingforum.com\/\" style=\"\" rel=\"noopener\">Egypt Mining Forum<\/a> that kicks off on Tuesday, where Horgan, along with other industry heavyweights and government officials, will be taking to the stage.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Enterprise: After announcing <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c03b30da-ff7c-4890-967f-069ab266b4c3\/%253cmark%253ecentamin%253c%2Fmark%253e-sees-encouraging-results-from-maiden-drilling-in-the-eastern-desert.-plus:-egypt-x-ksa-mining-cooperation,-ecab,-el-hazek,-fintech-news\" style=\"\" rel=\"noopener\">encouraging results<\/a><\/strong><strong> from Centamin\u2019s exploration in the Eastern<\/strong><strong> desert, what are your plans to develop and broaden your business in the coming years?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Martin Horgan: <\/strong>We\u2019re developing our business in two areas. First, we have the Sukari gold mine itself, which we operate in a joint venture with the Egyptian state. And then we have exploration around our new licenses \u2014 not so new anymore, two years down the line \u2014 which are issued under the new mining regime, which is hopefully due for approval in the coming weeks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>At Sukari, we're continuing to focus on our investment there<\/strong> to optimize and increase gold production, extend the mine\u2019s life, and ensure that we do so at as low a cost of production as possible. One of the great facets of the Sukari gold mine is that we're in an economic partnership with the government. Every USD of profit that comes out of that mine is split 50-50 between Centamin as the operator and foreign direct investor and the state. And really importantly, of course, we sell the gold in USD, and therefore we're contributing USD to the Egyptian economy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We also have our exploration ground. <\/strong>This is a fairly new initiative, but we believe there is very good potential geologically for Egypt to host more mining projects. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More internationally, one of the areas we\u2019re looking at is Saudi Arabia.<\/strong> We see a similar journey there in terms of a change in economic, fiscal, and regulatory regime, and are really trying to encourage the kickstarting of the sector there. Geologically, Egypt and Saudi Arabia are basically the same package of rocks, so we believe our 20 years of experience operating in Egypt will be incredibly useful as we look to potentially work in Saudi. We also have projects in West Africa, but at the moment, Egypt is our home.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What are Centamin\u2019s plans to increase gold production in Egypt itself? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MH: <\/strong>So, we've just been through what was effectively a full re-evaluation of the Sukari mine. It's been producing since 2009, so as we head into its fifteenth year of production, we see at least another decade of production ahead of us. Sukari genuinely is a world class asset, given its quality and scale.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Right now, we are focusing on extending the mine\u2019s life. <\/strong>Can we find more gold within our mining concession? Can we mine that at an increased rate? I think the key area is making sure that we do so at the lowest possible cost so that we can really generate cash flow.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What are we looking at in terms of the size of new investments, both in exploration and other<\/strong><strong> areas? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MH: <\/strong>Within Sukari itself, there are a number of programs. We built a 36 megawatt solar plant about 18 months ago and we're currently evaluating our ability to extend that solar farm \u2014 on the order of USD 15-20 mn. Another thing we're looking at now is a connection to the national power grid generation system, on the order of USD 50 mn in expenditures. We're also looking at adding some technology to the back-end of our processing facility on the order of USD 10-15 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the exploration block<\/strong>, at this stage we're talking on the order of USD 5-10 mn. If that starts to be successful, then that could very quickly become USD 50-100 mn of evaluation work for both drilling and technical studies. If we were to be successful and find a standalone mine, that could be on the order of USD 500 mn-plus in capital expenditures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Does Centamin have plans to participate in upcoming tenders for gold exploration? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MH: <\/strong>Yes, certainly. We're always very interested to see where we can grow our portfolio within Egypt. After being awarded our blocks from the last tender and that exploration cycle coming to its natural conclusion, we will have the human resources and funding to start looking at new areas.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: In terms of mining operations themselves, what sort of challenges does Centamin face, and<\/strong><strong> how do you plan to improve the efficiency of your operations in Egypt and elsewhere?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MH:<\/strong> Egypt is, in a sense, a relatively immature mining sector. In a more mature mining jurisdiction, you tend to find multiple service providers, be that for equipment, consulting services, and so on. With us being the only significant gold producer in Egypt, you don't have that same depth of support that you would get in a more established jurisdiction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Having said that, what Egypt does benefit from significantly is a deep pool of human capital <\/strong>and good infrastructure. On the human capital side, we see a number of high quality candidates coming out of various walks of life, so while these people might not have specific mining expertise, we're able to train them very quickly. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Turning to the gold market itself, what are your expectations for gold prices in the coming<\/strong><strong> years? And what risks does Centamin face from the fluctuation in these prices? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MH: <\/strong>I always love this question \u2014 and it's impossible to answer. Gold in one sense is a currency, in another sense is a hedge against geopolitical risk, and gold also has a use for fabrication in jewelry \u2014 so there are a lot of different drivers of gold prices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The best thing that we can do is make sure that we are as low-cost a producer as possible <\/strong>and really focus on our bottom line. When we see gold prices are high, we should be making good returns. When we see that gold prices are low, we can continue operating and still generate good cashflow because we're in the lower half of the cost curve. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Having said that, I do think that the macro outlook today is broadly supportive of the gold price. <\/strong>I don't think we're going to see gold retreat back to the levels of a decade ago. The macro outlook feels supportive in the short term, and the longer it stays at these prices, the more they get locked in. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: How have rising production costs affected Centamin\u2019s bottom line? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MH:<\/strong> The macro-inflationary period from around 2022 through to the end of 2023 affected everything from steel to consumables to fuel. I think the mining industry is in part a funder of that inflation, but also suffers from that inflation as well.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I'm delighted to say that despite that macro-inflationary environment, we've actually been able to<\/strong><strong> reduce our costs. <\/strong>Back in 2022, our costs topped out at nearly USD 1.4-1.5k per oz, and last year we got that down to just about 1.2k per oz \u2014 we've been able to deliver in excess of 20% in cost savings in that inflationary environment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: In terms of government regulation and incentives, what kinds of incentives would you like to<\/strong><strong> see Egypt offer in order to attract more investors?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MH: <\/strong>We believe that the reset mining regime that's being implemented right now is a key catalyst for foreign companies to come in, and as the established mining company in the country, we see it as our role to help lead that foreign direct investment into Egypt. There's a great road, power, and port network, there\u2019s a fantastic wealth of human capital in terms of quality, and we think with this new code, there's real potential for Egypt to take off and start to have significant mining sector development over the coming decade.<\/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\/centamin\/\">Centamin<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/coffee-with\/\">Coffee With<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gold\/\">gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mining\/\">mining<\/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=\"633431\" 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=\"633431\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/15\/gafi-wants-to-set-up-three-new-investment-zones\/\">\r\n                            Egypt\u2019s GAFI requests land plots to set up three new investment zones                        <\/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\/15\/gafi-wants-to-set-up-three-new-investment-zones\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            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href=\"https:\/\/api.whatsapp.com\/send?text=GAFI+wants+to+set+up+three+new+investment+zones+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F07%2F15%2Fgafi-wants-to-set-up-three-new-investment-zones%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\/15\/gafi-wants-to-set-up-three-new-investment-zones\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1055.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"633432\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/15\/gafi-wants-to-set-up-three-new-investment-zones\/1055-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1055.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1055.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1055.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1055.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633431\" class=\"content-area-description single-story post-633431 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam tag-gafi tag-investment-watch tag-new-urban-communities-authority 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\/.6ed3b5f6-b551-4acd-84d9-d54aee034499.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A triad of investment zones is in the works:<\/strong> The General Authority for Investment and Free Zones (GAFI) has requested the New Urban Communities Authority (NUCA) to allocate plots of land for the establishment of three new investment zones, GAFI head Hossam Heiba told <a target=\"_blank\" href=\"https:\/\/hapijournal.com\/2024\/07\/14\/%D8%AD%D8%B3%D8%A7%D9%85-%D9%87%D9%8A%D8%A8%D8%A9-%D9%86%D8%AA%D8%B1%D9%82%D8%A8-%D8%AA%D8%AE%D8%B5%D9%8A%D8%B5-%D8%A3%D8%B1%D8%A7%D8%B6-%D9%84%D8%A5%D9%82%D8%A7%D9%85%D8%A9-3-%D9%85%D9%86%D8%A7\/\" style=\"\" rel=\"noopener\">Hapi Journal<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The what: <\/strong>The zones, ranging from 150 to 200 feddans each, will include both industrial and service facilities and will bring together a range of activities, including textile industries, automotive feeder industries, and logistics services, said Heiba.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The where: <\/strong>GAFI has proposed about six locations, including New Alamein, for the establishment of these zones.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The when: <\/strong>The allocation process is expected to wrap up within two months, with marketing for the zones slated to kick off before the end of the year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The how:<\/strong> The first proposed investment model would see NUCA entering the project as a developer and taking care of setting up utilities before attracting investors. The second model involves partnering with specialized developers to set up the zones. The third model would see an industrial investor set up a project that can attract a large number of complementary industries, who all would receive a mark down in land costs in exchange for setting up their own utilities at the site. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign investors have already taken an interest: <\/strong>A Chinese industrial investor has made an offer to partner with GAFI under the third proposed investment model, while Turkish and European investors have also expressed interest in the project, Heiba said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- A new batch of golden licenses in the wings?<\/strong> GAFI is reviewing nine applications for golden licenses in the sectors of education, industry, logistics, and tourism, Heiba said.<\/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\/gafi\/\">GAFI<\/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\/new-urban-communities-authority\/\">New Urban Communities Authority<\/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=\"633433 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=\"633433\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/15\/633433\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633433\" class=\"content-area-description single-story post-633433 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.grantthornton.global\/en\/locations\/Egypt\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/674.png?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=\"633434\" 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=\"633434\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/15\/hengsheng-lays-foundation-stone-for-usd-70-mn-textile-factory-in-the-sczone\/\">\r\n                            China\u2019s Hengsheng begins construction of USD 70 mn textile factory in Egypt\u2019s SCZone                        <\/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\/15\/hengsheng-lays-foundation-stone-for-usd-70-mn-textile-factory-in-the-sczone\/\" 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\/15\/hengsheng-lays-foundation-stone-for-usd-70-mn-textile-factory-in-the-sczone\/')\">\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\/15\/hengsheng-lays-foundation-stone-for-usd-70-mn-textile-factory-in-the-sczone\/\">\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=Hengsheng lays foundation stone for USD 70 mn textile factory in the SCZone&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/15\/hengsheng-lays-foundation-stone-for-usd-70-mn-textile-factory-in-the-sczone\/\">\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\/15\/hengsheng-lays-foundation-stone-for-usd-70-mn-textile-factory-in-the-sczone\/&title=Hengsheng lays foundation stone for USD 70 mn textile factory in the SCZone\">\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=Hengsheng+lays+foundation+stone+for+USD+70+mn+textile+factory+in+the+SCZone+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F07%2F15%2Fhengsheng-lays-foundation-stone-for-usd-70-mn-textile-factory-in-the-sczone%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\/15\/hengsheng-lays-foundation-stone-for-usd-70-mn-textile-factory-in-the-sczone\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1057.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"633435\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/15\/hengsheng-lays-foundation-stone-for-usd-70-mn-textile-factory-in-the-sczone\/1057-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1057.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1057.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1057.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1057.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633434\" class=\"content-area-description single-story post-633434 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-china tag-egypt-china-relations tag-enterpriseam tag-fdi tag-manufacturing tag-suez-canal-economic-zone tag-textiles tag-west-qantara-industrial-zone 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\/.cae4c913-6401-4ce2-88f2-99ca3f944d05.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Construction is underway at the West Qantara Industrial Zone\u2019s first <\/strong><strong>project:<\/strong> China\u2019s <a target=\"_blank\" href=\"https:\/\/www.zjhsyr.com\/en\" style=\"\" rel=\"noopener\">Zhejiang Hengsheng Dyeing and Finishing Company<\/a> has laid the foundation stone for its dyeing, processing, and textile manufacturing project in the Suez Canal Economic Zone\u2019s <a target=\"_blank\" href=\"https:\/\/sczone.eg\/services\/west-qantara-industrial-zone\/\" style=\"\" rel=\"noopener\">West Qantara Industrial Zone<\/a>, with investments amounting to USD 70 mn, according to an SCZone <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/pfbid02nDdjjNvZU4xz9sdNjiFnq9jt4rXDxnTR5Ra6UUAU1b5L3p1W5fJivfuGUJwj8wicl\" 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>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The Chinese textile giant will develop the factory in two phases on a 200k sqm plot of land in Qantara with plans to begin the first stage of production during 1H 2026. Hengsheng is looking to achieve annual sales worth USD 300 mn and says that the factory is expected to create some 1.5k direct jobs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>D\u00e9j\u00e0 vu?<\/strong> The company initially <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8538fab0-92d9-4745-8e06-ed30bf2b0923\/sczone-secures-over-usd-100-mn-in-chinese-textile-projects-%2B-turkish-companies-looking-to-expand-here\" style=\"\" rel=\"noopener\">signed a usufruct contract<\/a> with the SCZone for the project back in October of last year, as part of a set of textile projects agreed upon with Chinese companies at the time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The first of many companies to head to Qantara West:<\/strong> The SCZone has so far received offers from 15 companies that have indicated interest in implementing projects in the area \u2014 projects that, when completed, will add 18k jobs to the market, SCZone head Walid Gamal El Din said. Of the 15 companies, six have already inked final contracts for the projects, Gamal El Din added. The SCZone is aiming to export 80% of the companies\u2019 output.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Chinese investment is an important part of the SCZone\u2019s investment landscape<\/strong>: \u201cThe SCZone <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5b726a60-72db-4779-aa75-8ce110131e6e\/chinese-investors-ink-usd-9.5-mn-worth-of-industrial-project-in-teda\" style=\"\" rel=\"noopener\">succeeded in attracting<\/a> 128 projects worth USD 6 bn in the past two years, of which Chinese investments represent 40%,\u201d Gamal El Din said in May. There is a \u201clegitimate ambition\u201d to bring up the number of Chinese companies with operations in the SCZone to 1k by 2030, Gamal El Din added. <\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-china-relations\/\">Egypt-China relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/textiles\/\">textiles<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/west-qantara-industrial-zone\/\">West Qantara Industrial Zone<\/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=\"633436 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=\"633436\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/15\/633436\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633436\" class=\"content-area-description single-story post-633436 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=\"633437\" 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=\"633437\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/15\/disqualification-of-cyclist-from-egypts-olympics-team-is-catching-the-attention-of-the-intl-press\/\">\r\n                            Disqualification of cyclist from Egypt\u2019s Olympics team ahead of Paris games is catching the attention of the int\u2019l press                        <\/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\/15\/disqualification-of-cyclist-from-egypts-olympics-team-is-catching-the-attention-of-the-intl-press\/\" target=\"_blank\">\n                    Open in new tab   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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/15\/disqualification-of-cyclist-from-egypts-olympics-team-is-catching-the-attention-of-the-intl-press\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1061.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"633438\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/15\/disqualification-of-cyclist-from-egypts-olympics-team-is-catching-the-attention-of-the-intl-press\/1061-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1061.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1061.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1061.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1061.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633437\" class=\"content-area-description single-story post-633437 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-enterpriseam tag-sports 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\/.6fcd19b8-1e6f-4cbb-b31d-820175e398f4.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt is already making it into Olympic news before the games even begin: <\/strong>News that Egyptian cyclist Shahd Saied has been disqualified from the upcoming Paris Olympics by Egypt's Olympics Committee is starting to get picked up by the <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/olympics\/egyptian-cyclist-disqualified-paris-games-after-collision-uproar-2024-07-14\/\" style=\"\" rel=\"noopener\">international press<\/a>. Despite being named by the Egyptian Cycling Federation to represent the country, a video appearing to show her deliberately knocking a competitor off her bike during a competition in April spurred many on social media to call for her to be kicked off the team on the back of her perceived lack of sportsmanship and one-year ban from local competitions.<\/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\/sports\/\">sports<\/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=\"633439\" 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=\"633439\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/15\/introducing-the-cabinets-economic-ministerial-group-plus-news-from-madinet-masr-eastern-company-infinity-power\/\">\r\n                            Egypt\u2019s cabinet now has an Economic Ministerial Group                        <\/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\/15\/introducing-the-cabinets-economic-ministerial-group-plus-news-from-madinet-masr-eastern-company-infinity-power\/\" 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\/15\/introducing-the-cabinets-economic-ministerial-group-plus-news-from-madinet-masr-eastern-company-infinity-power\/')\">\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\/15\/introducing-the-cabinets-economic-ministerial-group-plus-news-from-madinet-masr-eastern-company-infinity-power\/\">\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=Introducing the cabinet\u2019s Economic Ministerial Group. PLUS: News from Madinet Masr, Eastern Company, Infinity Power&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/15\/introducing-the-cabinets-economic-ministerial-group-plus-news-from-madinet-masr-eastern-company-infinity-power\/\">\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\/15\/introducing-the-cabinets-economic-ministerial-group-plus-news-from-madinet-masr-eastern-company-infinity-power\/&title=Introducing the cabinet\u2019s Economic Ministerial Group. PLUS: News from Madinet Masr, Eastern Company, Infinity Power\">\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=Introducing+the+cabinet%E2%80%99s+Economic+Ministerial+Group.+PLUS%3A+News+from+Madinet+Masr%2C+Eastern+Company%2C+Infinity+Power+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F07%2F15%2Fintroducing-the-cabinets-economic-ministerial-group-plus-news-from-madinet-masr-eastern-company-infinity-power%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\/15\/introducing-the-cabinets-economic-ministerial-group-plus-news-from-madinet-masr-eastern-company-infinity-power\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1080.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"633440\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/15\/introducing-the-cabinets-economic-ministerial-group-plus-news-from-madinet-masr-eastern-company-infinity-power\/1080-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1080.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1080.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1080.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1080.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633439\" class=\"content-area-description single-story post-633439 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-cabinet-watch tag-eastern-company tag-enterpriseam tag-infinity tag-infinity-power tag-madinet-masr tag-moustafa-madbouly tag-real-estate tag-tobacco 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\/.f8827480-5c2b-451b-ac8f-2cdd05b42b69.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">CABINET WATCH-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Introducing the cabinet\u2019s Economic Ministerial Group:<\/strong> Prime Minister Moustafa Madbouly issued a directive forming the Economic Ministerial Group to steer the country\u2019s economic and financial policies, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0zV92AyvREBYZ3y1SBy546SmbgUVM9NGXRbmYws2LTvTPCktpia6KDvKstnPrn8EUl\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s on board:<\/strong> Headed by Madbouly, the group will include Central Bank Governor Hassan Abdalla, Planning and Economic Development Minister Rania Al Mashat, Finance Minister Ahmed Kouchouk \u2014 who will serve as the group\u2019s spokesperson \u2014 Supply Minister Sherif Farouk, and Investment and Foreign Trade Minister Hassan El Khatib. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The group\u2019s mission:<\/strong> The group is tasked with formulating the overall framework for economic and financial policies, promoting growth and employment, and ensuring financial sustainability and economic stability. It will meet weekly \u2014 or as needed \u2014 and can invite experts to its meetings to make use of their expertise.<\/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>Eastern Company hikes smoke prices for the third time this year: <\/strong>State-owned tobacco giant Eastern Company on Friday bumped up the prices of its cigarettes by up to EGP 0.50 after the company\u2019s board approved the decision a day earlier, according to two EGX disclosures (<a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/1038.pdf\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/1039.pdf\" style=\"\" rel=\"noopener\">here<\/a>, pdf). The price of all its 20-cigarette packs, including Cleopatra, now stands at EGP 34.72, while its higher-end Viceroy and Pall Mall has maintained its price of EGP 55. The Box 10 \u2014 the pack including 10 cigarettes \u2014 saw the biggest jump in price, now going for EGP 25 a pack from EGP 24.5. This marks the company\u2019s third price hike this year, following earlier increases in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/42608e1b-14da-4fba-8e1f-3025ff7d1a2e\/\" style=\"\" rel=\"noopener\">April<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c6917ee5-d671-4da3-8343-001eb83e356f\/\" style=\"\" rel=\"noopener\">February<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale: <\/strong>\u201cThe price hike complies with the Universal Health Ins. Law,\u201d Eastern CEO Hany Aman told Hadret El Mowaten last night (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=471088962222906\" style=\"\" rel=\"noopener\">watch, runtime: 1:40<\/a>). <\/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>Infinity to set up its first ever projects in Cameroon:<\/strong> Our friends at renewables firm Infinity Power inked an MoU with the Cameroon West Regional Council that will see the firm develop 4 GW-worth of renewable energy projects by 2035, with the projects likely to include \u201csolar, battery storage, wind, hydro and biomass plants,\u201d the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/1016.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. <\/p><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>Madinet Masr, HDD sign agreement to develop project in New Heliopolis:<\/strong> Madinet Masr will co-develop two plots in New Heliopolis alongside Heliopolis Housing and Development (HHD) under an agreement inked between the two sides, <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/987.pdf\" style=\"\" rel=\"noopener\">Madinet Masr (pdf)<\/a> and <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/992.pdf\" style=\"\" rel=\"noopener\">HHD (pdf)<\/a> said in separate statements. Madinet Masr made a contract payment of EGP 1.1 bn upon signing. The project is expected to generate some EGP 194.7 bn in revenues over the 12-year period \u2014 the project is expected to launch before the end of 2024, Madinet Masr CEO <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/40c6f46f-e6e6-456f-9a45-7c5dfdb730db\/%253cmark%253emadinet%253c%2Fmark%253e%253cmark%253e-masr%253c%2Fmark%253e-nearly-tripled-its-income-in-1q\" style=\"\" rel=\"noopener\">Abdallah Sallam said earlier this year<\/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\/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\/cabinet-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eastern-company\/\">Eastern Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infinity\/\">Infinity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infinity-power\/\">Infinity Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madinet-masr\/\">Madinet Masr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tobacco\/\">tobacco<\/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=\"633441\" 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=\"633441\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/15\/markets-are-digesting-the-attempted-assassination-of-donald-trump\/\">\r\n                            Markets are digesting the attempted assassination of Donald Trump                        <\/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\/15\/markets-are-digesting-the-attempted-assassination-of-donald-trump\/\" target=\"_blank\">\n                    Open in new 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1091.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"633442\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/15\/markets-are-digesting-the-attempted-assassination-of-donald-trump\/1091-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1091.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1091.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1091.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1091.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633441\" class=\"content-area-description single-story post-633441 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-donald-trump 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\/.2abe3a78-56b7-4d33-a577-e41741ed23ed.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>From FX to stocks and wagers on the chances that Donald Trump will return to the Oval <\/strong><strong>Office<\/strong>, it\u2019s a very US-centric morning on planet finance as markets digest the attempted assassination on the presumptive Republican candidate\u2019s life. Trump will be formally nominated this week at the Republican national convention.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The USD rose against other currencies yesterday and overnight and BTC climbed to USD <\/strong><strong>60k.<\/strong> \u201cFor us, the news does reinforce that Trump\u2019s the frontrunner,\u201d said Mark McCormick, global head of foreign-exchange and emerging-market strategy at Toronto Dominion Bank. \u201cWe remain USD bulls for the second half and early 2025.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The downside: The shooting underscores the risk of political violence in the US<\/strong>, which could finally cool major US equities benchmarks if investors rotate even temporarily to safer assets. \u201cPolitical risk is binary and hard to hedge, and uncertainty was high as it is with the close nature of the race. This adds to volatility. I think it further increases the chance of a Republican sweep.\u201d <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO ON PLANET FINANCE- US inflation and interest rates could remain higher for <\/strong><strong>longer <\/strong>than many expect forecasts despite some signs of cooling inflation, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/07\/12\/jpmorgans-jamie-dimon-warns-inflation-and-interest-rates-may-stay-higher.html\" style=\"\" rel=\"noopener\">CNBC<\/a> reports JPMorgan Chase boss Jamie Dimon as saying. \u201cThere has been some progress bringing inflation down, but there are still multiple inflationary forces in front of us: large fiscal deficits, infrastructure needs, restructuring of trade and remilitarization of the world,\u201d Dimon said. \u201cTherefore, inflation and interest rates may stay higher than the market expects.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context: Monthly US inflation in June for the first time in over four years<\/strong>, prompting some to expect the Federal Reserve is more likely to start cutting rates in September. Fed Chair Jerome Powell told Congress <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/d5957176-903f-4c59-ba85-9aa5d1ad6ad2\" style=\"\" rel=\"noopener\">last week<\/a> that he has \u201csome confidence\u201d that inflation will cool to 2%. He also said that the Fed doesn\u2019t necessarily need to wait for inflation to fall to 2% before moving on interest rate cuts, adding to the speculation that the first cut could come this fall.<\/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>Major Asian benchmarks are flat this morning<\/strong> as investors mull the attempted assassination of Donald Trump and the start later today of China\u2019s Third Plenum meeting. The policy meeting of the Chinese Community Party takes place about once every five years and was expected last fall. Kickstarting <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/article\/2024\/jul\/15\/chinas-leaders-to-meet-for-third-plenum-with-kickstarting-the-economy-on-the-agenda\" style=\"\" rel=\"noopener\">the economy<\/a> is at the <a target=\"_blank\" href=\"https:\/\/asia.nikkei.com\/Politics\/China-s-third-plenum-kicks-off-5-things-to-know2\" style=\"\" rel=\"noopener\">top of the list of topics<\/a>, but <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/07\/12\/china-to-hold-third-plenum-why-real-estate-isnt-likely-the-main-focus.html\" style=\"\" rel=\"noopener\">don\u2019t expect CCP officials to dive too deeply<\/a> into the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/china\/china-economy-debt-borrowing-33f08b5e\" style=\"\" rel=\"noopener\">rot that is the domestic real estate industry<\/a>. (Markets are closed in Japan in observance of the Marine Day holiday.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Futures suggest we\u2019ll see something of a relief rally on Wall Street<\/strong>, where futures for the major equities benchmarks were up in overnight trading. European futures, meanwhile, are mixed as we head toward dispatch time this morning.<\/p><p><a target=\"_blank\" id=\"t.eedda3c09066d65a7da50187b93ebbd1366ecf74\" 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<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>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\">28,042<\/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\">-0.9% (YTD: +12.6%)<\/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>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 47.88<\/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 48.02<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB<\/strong><strong>) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 47.9<\/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 48.0<\/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\">11,882<\/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\">+0.8% (YTD: -0.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,143<\/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: -4.5%)<\/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>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\">4,104<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +1.01%)<\/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\">5,615<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +17.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,253<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +6.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,043<\/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: +11.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 85.03<\/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\">-0.4%<\/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>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 2.33<\/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\">+2.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,421<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 60,823<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+3.8% (YTD: +44.0%)<\/p>\n<\/td>\n<\/tr>\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 fell 0.9% at yesterday\u2019s close<\/strong> on turnover of EGP 2.3 bn (45.4% below the 90-day average). Foreign investors were net buyers. The index is up 12.6% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>ADIB (+2.7%), Qalaa Holdings (+2.2%), and Heliopolis Housing (+2.2%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>GB Corp (-4.1%), Talaat Moustafa Group (-3.9%), and Fawry (-3.9%).<\/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\/donald-trump\/\">Donald Trump<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"633443\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">9<\/div>\r\n\r\n                        <p class=\"f-graphik\">BLACKBOARD<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/the-market-trends-economic-headwinds-and-road-head-for-language-programs-at-embassy-sponsored-cultural-institutes-part-ii\/\">\r\n                            The market trends, economic headwinds, and road head for language programs at embassy-sponsored cultural institutes - 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2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"633444\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/the-market-trends-economic-headwinds-and-road-head-for-language-programs-at-embassy-sponsored-cultural-institutes-part-ii\/1063-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1063.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1063.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1063.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1063.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-633443\" class=\"content-area-description post-633443 blackboard type-blackboard status-publish has-post-thumbnail hentry category-blackboard tag-blackboard tag-education tag-egypt-france-relations tag-egypt-germany-relations tag-egypt-uk-relations tag-enterprise-blackboard tag-enterpriseam 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>A dive into the market<\/strong><strong> forces that cultural institutes must navigate:<\/strong> Embassy-affiliated cultural institutes \u2014 such as the UK\u2019s <a target=\"_blank\" href=\"https:\/\/www.britishcouncil.org.eg\/en\" style=\"\" rel=\"noopener\">British Council<\/a>, Germany\u2019s <a target=\"_blank\" href=\"https:\/\/www.goethe.de\/ins\/eg\/ar\/sta\/kai.html\" style=\"\" rel=\"noopener\">Goethe-Institut<\/a>, and France\u2019s <a target=\"_blank\" href=\"https:\/\/www.ifegypte.com\/en\/\" style=\"\" rel=\"noopener\">Institut Fran\u00e7ais<\/a> \u2014 offer robust language courses as part of their mandate to promote their culture and help cultivate diplomatic relationships. In <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/73c0d7cb-2c8d-44f5-a73d-fa77f658bd4a\/\" style=\"\" rel=\"noopener\">part one<\/a>, we looked at why language instruction is an integral part of their mission, what sets them apart in the market, and what their business models look like. In part two, we\u2019ll delve into how these players are leveraging market trends and demand to expand their operations, as well the setbacks that they face along the way.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE TRENDS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Following the urban sprawl: <\/strong>To meet growing demand for learning French, the French Institute is strategically expanding in locations where new urban centers are emerging. \u201cWe try to reach people who can no longer come to our original locations because they\u2019ve moved to newer neighborhoods,\u201d said Nancy Ibrahim, the director of the French Institute\u2019s language center in Egypt\u2019s Mounira office. \u201cOur buildings in Mounira and Alexandria are old and very chic, with beautiful architecture, but they\u2019re located in old neighborhoods,\u201d Ibrahim explained, adding that the \u201cbuilding in Alexandria is in the city\u2019s downtown, where it can be hard to park.\u201d To address these demographic shifts, the institute has opened branches in the Fifth Settlement and El Sheikh Zayed and is in the process of opening another branch in Alexandria.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rolling out customized courses:<\/strong> Officials from both the Goethe-Institut and the French Institute have stated that they have responded to growing demand by offering customized language courses tailored to the objectives of different groups, such as academics embarking on postgraduate studies abroad or Egyptian employees hired by foreign companies. The rise of job openings across Africa has led to a surge in requests from firms \u2014 chiefly in the fields of engineering and communications \u2014 looking to sponsor French courses for their employees, Ibrahim said. While English is often the primary language of work for these employees, French is essential for navigating daily life in many African countries. For this cohort, the French Institute offers customized programs that are typically faster-paced and focused on workplace-related language, she explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ditching the rigid schedules:<\/strong> One way in which the British Council has responded to the evolving needs of its learners is through its main adult program, <a target=\"_blank\" href=\"https:\/\/www.britishcouncil.org.eg\/en\/english\/adults\/myclass\" style=\"\" rel=\"noopener\">MyClass<\/a>, said Kevin McLaven, the organization\u2019s MEA cluster and country lead for English teaching. \u201cThe program recognizes that people have very busy lives and are increasingly time-poor,\u201d he said. \u201cIt\u2019s very different from a traditional program \u2014 students are able to book classes on the days they want, at the times they want, and with the teachers they want. A student could, for example, choose to attend three classes this week and no classes at all next week.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Building robust partnerships:<\/strong>The Goethe-Institut works with the Education Ministry to train school teachers and provide them with scholarships to train abroad, and is prepared to help the ministry with its plan to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/680b4dde-5aa2-4baf-8957-b2582c51ce07\" style=\"\" rel=\"noopener\">roll out German as an elective second foreign language<\/a> in public schools for students in grade seven and above starting September, Nivin El Sioufy, head of the Language Department at the institute's Cairo office, told Enterprise. The Goethe-Institut also struck an agreement with the Supreme Council of Universities in 2019 to help teach German to all doctors and engineers in Egypt\u2019s public universities as part of a presidential initiative, El Sioufy said. Since then, the institute has been training lecturers and assistant lecturers to teach the language, and the project will continue for another three years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Leveling up to the digital age: <\/strong>Digitalization is one of the most significant ways in which cultural institutes have evolved over the years, all of our sources told us. The institutes offer a range of formats to suit the preferences and needs of different students, including online courses and blended learning. \u201cGoethe-Institut had a digital platform for remote learning ten years before Covid, but students preferred face-to-face learning. It was only after the pandemic that doubts about online learning started to dissipate and people became more receptive to the idea,\u201d said El Sioufy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE HEADWINDS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sourcing the right teachers is a major challenge: <\/strong>Both Ibrahim and El Sioufy cited difficulty finding qualified language teachers as one of the biggest challenges faced by their institutes. Both institutes, as well as the British Council, pride themselves on providing extensive training to their language teachers. However, finding instructors who possess not just the skills, but also the passion for teaching can be difficult, said Ibrahim. \u201cLanguage proficiency alone is insufficient,\u201d said El Sioufy, adding that a rare blend of professional competencies is required. Instructors hired by Goethe-Institut receive a preliminary training that\u2019s about a year and half in duration. In tandem, they can start teaching within six months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cultural institutes are feeling the squeeze from the float and inflation: <\/strong>Pricing courses and exams in a way that strikes a balance between the institute\u2019s income and students\u2019 ability to pay has been challenging given today\u2019s inflationary environment, said El Sioufy. Following the EGP float, Goethe-Institut was obliged to hike up the prices of its exams by nearly 40%, but was able to apply a smaller increase to the prices of its courses, El Sioufy said, adding that the institute thought very carefully about these decisions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FX restrictions are a sticking point, too:<\/strong> Due to FX restrictions on debit cards, some students are unable to register for courses on the Goethe-Institut\u2019s online shop, said El Sioufy. \u201cAs a result, we\u2019ve had to increase the number of on-site personnel to accommodate the people who pay in person at the institute, where we charge the EGP equivalent of EUR fees.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some students are opting out of language courses:<\/strong> \u201cBecause of the current economic climate, learning foreign languages is not a priority for everybody,\u201d said Ibrahim. While children and university students are still flocking into language courses, the institute has seen less demand from some of the older student segments, she explained. \u201cFor example, after Covid, the cohort of mothers who attended courses in the morning has completely disappeared. That\u2019s because other online courses and cheaper alternatives by small private language centers, while often subpar, are available in abundance.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But, overall demand remains robust:<\/strong> \u201cDespite the economic challenges, we're still seeing year-on-year growing demand for our English courses, and that's both from adults and from the young learners,\u201d said McLaven. \u201cOne of our concerns two years ago was that nobody would be able to afford to take an English class. But I think simply because it's recognized that if you want a better job \u2014 or a job in the Gulf, for example \u2014 you have to have the best possible qualifications, you're going to have to somehow find a way to get a decent English language education.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE ROAD AHEAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How will these institutes evolve over the next few years or decades? <\/strong>\u201cI think, without doubt, it's going to be technology, technology, technology,\u201d said McLaven. \u201cI'm not suggesting that face-to-face interactions will disappear completely. But, technology just offers so much in the way of opportunity, efficiency, flexibility, choice. The education market will have to respond to those technological advancements.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>SEIC to conclude due diligence on CIRA before September: <\/strong>The Saudi Egyptian Investment Company (SEIC) should <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2a49774b-2fb2-4d2c-839e-61b1ce5778c3\/customs-authority-mulls-monthly-car-import-quota\" style=\"\" rel=\"noopener\">wrap up its due diligence<\/a> ahead of its acquisition of CIRA Education by the end of August.<\/li>\n<li><strong>Amendments to the US-Egypt Higher Education Initiative got the greenlight at last<\/strong><strong> week\u2019s cabinet meeting. <\/strong>The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f732331d-9f7c-4d65-8384-b206261ea878\/new-cabinet-approves-energy-agreements,%253cmark%253e-education%253c%2Fmark%253e-amendments,-taxation-changes-in-first-meeting\" style=\"\" rel=\"noopener\">USD 250 mn initiative<\/a> provides high-achieving Egyptians with access to higher education locally and in the US. <\/li>\n<li><strong>EEP to launch two new schools by 2025: <\/strong>The Egypt Education Platform (EEP) plans to set up <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e1e93e97-a640-4519-9bdc-69be48815b08\/%253cmark%253eeducation%253c%2Fmark%253e-platform-epp-wants-to-set-up-two-schools-in-alexandria-and-soma-bay-by-2025\" style=\"\" rel=\"noopener\">two new schools in Alexandria and Somabay<\/a> by September 2025.<\/li>\n<li><strong>Prime Minister Moustafa Madbouly staked out education as a key priority for the<\/strong><strong> new government<\/strong> during his address to the House of Representatives last week, with the prime minister saying that he would <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/150370b7-8811-44e0-8b91-782cfb66541c\/madbouly-lays-out-the-new-egyptian-govt%25e2%2580%2599s-priorities-for-the-next-three-years-in-policy-statement-to-the-house\" style=\"\" rel=\"noopener\">give priority to setting up new schools<\/a> in densely populated and remote areas.<\/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\/blackboard\/\">Blackboard<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span 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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\/15\/633445\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633445\" class=\"content-area-description single-story post-633445 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>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 zones | Economic group | Textile factory | Cabinet vote | EU funds.<\/p>\n","protected":false},"featured_media":633422,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-633421","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"6e90fd17-257a-42bf-9120-573a892d46ec","teaser":"New zones | Economic group | Textile factory | Cabinet vote | EU funds.","photo_url":"https:\/\/ent.news\/2024\/7\/1089.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\/ 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