{"id":633500,"date":"2024-07-16T00:00:00","date_gmt":"2024-07-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=633500"},"modified":"2025-12-17T13:18:39","modified_gmt":"2025-12-17T13:18:39","slug":"imf-cabinet-are-in-discussion-over-the-new-government-policy","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-cabinet-are-in-discussion-over-the-new-government-policy\/","title":{"rendered":"IMF, cabinet are in discussion over the new government policy"},"content":{"rendered":"<section id=\"633502\" 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=\"633502\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">What We're Tracking Today<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/16\/esim-services-are-months-away\/\">\r\n                            eSIM services to launch in Egypt within months                        <\/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\/16\/esim-services-are-months-away\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-image-meta=\"[]\" data-image-title=\"1197.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1197.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1197.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633502\" class=\"content-area-description single-story post-633502 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-cit tag-enterpriseam 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\/.33eab500-dd57-4c9a-a1ce-d1c0804a051e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, folks. <\/strong>We have a brisk issue for you this morning led by fresh discussions with the IMF over the new cabinet\u2019s policy. <\/p><p class=\"tag-border-left\">WATCH THIS SPACE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#1- A fresh entry on the EGX? <\/strong>Cairo-based <a target=\"_blank\" href=\"https:\/\/alahlygroup.com\/en\/about-us\/\" style=\"\" rel=\"noopener\">Al Ahly Group for Modern Agriculture<\/a> filed a request to list its shares on the EGX, the bourse <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/1206.jpg\" style=\"\" rel=\"noopener\">said<\/a> yesterday. The company is currently working to complete the listing procedures, ahead of listing its 1.5 bn shares, with a capital of EGP 150 mn. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>#2- Further confirmation that eSIM services are fast approaching: <\/strong>The government plans to launch eSIM services within two months, CIT Minister Amr Talaat told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/technology\/48528\/%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D8%AA%D8%B5%D8%A7%D9%84%D8%A7%D8%AA-%D9%85%D8%B5%D8%B1-%D8%B3%D9%86%D8%B7%D9%84%D9%82-%D8%B4%D8%B1%D8%A7%D8%A6%D8%AD-esim-%D8%AE%D9%84%D8%A7%D9%84-%D8%B4%D9%87%D8%B1%D9%8A%D9%86\/?utm_source=twitter&amp;utm_medium=social&amp;utm_campaign=asharqbegy\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. This follows <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a32982d2-a780-4740-9669-17aced583182\/gov%25e2%2580%2599t-clears-usd-1.3-bn-oil-and-gas-arrears\" style=\"\" rel=\"noopener\">reports<\/a> that the National Telecom Regulatory Authority had been conducting the final technical tests for the service earlier this month and was awaiting the visit of a representative from the GSM Association \u2014 a global organization representing the interests of mobile network operators \u2014 to ensure the system is in line with international standards.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>eSIMs?<\/strong> eSIMs are a digital version of a SIM card that can be put in your phone by scanning a QR code or putting in a code. The newest Apple, Samsung, and Google phones are already eSIM-compatible, and many believe it is only a matter of time before physical SIM cards are tossed into the dustbin of history.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#3- Iraq wants Egyptian investors to tap the country\u2019s recovering economy:<\/strong> Iraq\u2019s Prime Minister Mohammed Al Sudani invited Egyptian and Saudi investors to invest in the country\u2019s real estate sector, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/100087489740259\/posts\/454056650853989\/?mibextid=WC7FNe&amp;rdid=28Eg2cXvkf7ekazy\" style=\"\" rel=\"noopener\">statement<\/a>. His statements came during a meeting with Egyptian and Saudi businessmen, including Egypt\u2019s TMG Holding and Saudi conglomerate Al Muhaidib.<\/p><p class=\"tag-border-left\">DATA POINTS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt3\"><\/a> <strong>#1- Suez Canal revenues fell 23% y-o-y during the fiscal year 2023-2024<\/strong> to record USD 7.2 bn, Al Mal <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%82%d9%86%d8%a7%d8%a9-%d8%a7%d9%84%d8%b3%d9%88%d9%8a%d8%b3-%d8%aa%d9%81%d9%82%d8%af-2-1-%d9%85%d9%84%d9%8a%d8%a7%d8%b1-%d8%af%d9%88%d9%84%d8%a7%d8%b1-%d8%a8%d9%86%d9%87%d8%a7%d9%8a\/\" style=\"\" rel=\"noopener\">reports<\/a> citing sources with knowledge of the matter. The number of vessels passing by dipped 22% y-o-y, while net tonnage decreased by nearly 30% y-o-y. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Expanding the Takaful and Karama program: <\/strong>Some 73k families were added to the Takaful and Karama social safety program in July, Social Solidarity Minister Maya Morsy <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid03HKNYQF18SZK3HZWks37VH6zabkHpGoupJuVdCywxEkz5pLn1FZxQYUjMDzaoUspl?__cft__%5B0%5D=AZW54oQdtIoGVOZul1fp7bhSenuZ87BOvQCwuJAImGtUVmGunJNalWPXOSl5RKPNeiMfFhT3bQtZ0SleuQ5VK4hWNIZ754yeCHdqOolEF2088MANnFUSzm5gZ5goG_IgbEBYm2g06kuUJ6JtSCYM8tBR2jBzBlVZR-MxR98JpUcHlsZzS4aXJGb9E-mN8WZ6JoI6vigNaxnC9EcoXCkntHbj&amp;__tn__=%2CO%2CP-R\" style=\"\" rel=\"noopener\">said<\/a>. The program currently includes around 5.2 mn families \u2014 21 mn citizens.<\/p><p class=\"tag-border-left\"> HAPPENING TODAY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt5\"><\/a> <strong>Egypt Mining Forum kicks off: <\/strong>The two-day <a target=\"_blank\" href=\"https:\/\/www.egyptminingforum.com\/\" style=\"\" rel=\"noopener\">Egypt Mining Forum<\/a> opens its doors today at the Nile Ritz-Carlton. The forum will bring together over 4k attendees for 15 sessions with over 50 speakers. <\/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>We have another long weekend ahead:<\/strong> Public and private sector workers will have Thursday, 25 July off in observance of the 23 July Revolution, Prime Minister Moustafa Madbouly <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0259mACRo3ZjmGyqE5Y5PRDx9pDWwZJdg5cr5ymcjgdHTn9T1nraVUq61dA7kC4gnbl\" style=\"\" rel=\"noopener\">announced<\/a> yesterday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>Brace for another humid day in Cairo, with a high of 35\u00b0C and a low of 26\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 almost as hot 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 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>Donald Trump is still in front pages everywhere \u2014 this time after formally taking the <\/strong><strong>Republican nomination. <\/strong>He has named Ohio Senator JD Vance as his running mate \u2014 Vance was once a Trump critic and is a sharp populist \u2014 in a move that the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/elections\/trump-vp-pick-jd-vance-f179310d\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> says could be aimed at clinching victory in the Midwest battleground states. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Trump made his first public appearance<\/strong><strong> since his assassination attempt<\/strong> \u2014 with a big bandage on his ear \u2014 at the Republican National Convention, which is still underway at dispatch time.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- A US judge dismissed a criminal case over Trump\u2019s handling of classified <\/strong><strong>documents<\/strong>, in the latest legal victory for the former president, the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/us-news\/law\/federal-judge-dismisses-classified-documents-prosecution-against-trump-db0cde1b?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">WSJ<\/a> reported separately. The judge in the case is a Trump appointee who has made a <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/06\/20\/us\/politics\/trump-documents-case-unusual-rulings.html\" style=\"\" rel=\"noopener\">series of baffling or unorthodox rulings<\/a> in the case.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Trump will force Ukraine-Russia peace talks<\/strong> if he\u2019s elected president, <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/44493fa9-d8f2-4407-94ac-a072c1976ca2\" style=\"\" rel=\"noopener\">says<\/a> Hungary\u2019s prime minister, Viktor Orb\u00e1n.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OVER IN FRANCE- The fragile unity within the country\u2019s New Popular Front is fraying <\/strong>as coalitions within the party fail to agree over a new prime minister, <a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/france\/20240715-france-enters-high-stakes-week-politics-leftist-bloc-sets-sights-speaker-chair\" style=\"\" rel=\"noopener\">France24<\/a> reports. The government is set to convene on Thursday for the first time to elect a new president of the national assembly, equivalent to the speaker of the house. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN THE BUSINESS PRESS- Apple\u2019s shares rose to a record high<\/strong> after Morgan Stanley identified the stock as a \u201ctop pick,\u201d giving it a valuation of USD 3.62 tn, attributing the choice to the iPhone manufacturer\u2019s AI efforts, which it expects to help boost sales.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SPEAKING OF APPLE- Fellow iSheep can now download the beta version of iOS 18<\/strong> (and iPad, macOS, watch OS 18, and macOS Sequoia). (<a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2024\/7\/15\/24198912\/ios-18-public-beta-now-available-iphone-apple-intelligence-siri-software-update\" style=\"\" rel=\"noopener\">The Verge<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND IN EARNINGS NEWS- Goldman Sachs saw its net income <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.goldmansachs.com\/media-relations\/press-releases\/2024\/2024-07-15-q2-results.html\" style=\"\" rel=\"noopener\">more than double<\/a><\/strong><strong> in 2Q <\/strong><strong>2024 to USD 3 bn <\/strong>due to a recovery in dealmaking. Morgan Stanley is set to report its earnings today. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/239.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We break down the new cabinet\u2019s green goals, from renewables targets to plans for electricity production and consumption.<\/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\/cit\/\">CIT<\/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=\"633504 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=\"633504\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/16\/633504\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633504\" class=\"content-area-description single-story post-633504 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=\"633505\" 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=\"633505\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/16\/imf-is-in-discussion-with-the-new-cabinet-over-its-policies-for-the-years-to-come\/\">\r\n                            IMF is in discussion with Egypt\u2019s new cabinet over its policies for the years to come                        <\/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\/16\/imf-is-in-discussion-with-the-new-cabinet-over-its-policies-for-the-years-to-come\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a 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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"633506\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/16\/imf-is-in-discussion-with-the-new-cabinet-over-its-policies-for-the-years-to-come\/1186-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1186.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1186.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1186.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1186.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633505\" class=\"content-area-description single-story post-633505 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-commodities tag-economy tag-enterpriseam tag-imf tag-madbouly-cabinet tag-oil-and-gas tag-subsidies 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\/.83da6bdc-9a35-4d0d-b195-9826af72c7c6.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>More discussions with the IMF are underway: <\/strong>The IMF is in discussions with the new Madbouly cabinet over its policy and goals for the coming three years, a government official told Enterprise, adding that these talks should wrap up next week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">ICYMI: <\/strong><span style=\"background-color: transparent;\">The new cabinet, <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0921c77b-8d4c-43a9-b1d2-48af03728682\/egypt%25e2%2580%2599s-usd-bonds-top-em-index-as-new%253cmark%253e-cabinet%253c%2Fmark%253e-sworn-in\" rel=\"noopener\">sworn in earlier this month<\/a><span style=\"background-color: transparent;\">, has big plans for the years to come between protecting national security and Egypt\u2019s foreign policy, building up the Egyptian citizen, building a competitive economy that attracts investments, and achieving political stability. Dive deeper into the econ aspect of the government\u2019s plans <\/span><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\" rel=\"noopener\">here<\/a><span style=\"background-color: transparent;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the agenda: <\/strong>The two sides are in discussion over monetary and financial policies, as well as policies related to public spending, our source said. The timeline of slashing fuel subsidies is an important point of discussion, seeing how heavily it weighs on the state budget \u2014 the government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3fd60d61-8953-483c-a09b-8bce0f612e9e\/egypt%25e2%2580%2599s-fy-2024-2025-draft-budget-delivered-to-the-house\" style=\"\" rel=\"noopener\">increased fuel subsidies allocations<\/a> in FY 2024-2025 to EGP 154.5 bn, up 29.4% from 119.4 bn last fiscal year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- We are sitting tight waiting for the Fund\u2019s Executive Board to discuss the third review of <\/strong><strong>our USD 8 bn loan program<\/strong>, after its meeting was pushed back to 29 July to \u201cfinalize some details,\u201d <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/56e18c6b-9039-4d00-99ca-01f7328548f2\" style=\"\" rel=\"noopener\">according to IMF Communications Director Julie Kozack<\/a>. The greenlight from the board will see the Fund disburse a fresh USD 820 tranche into the state coffers and will allow Egypt to apply for an additional USD 1.2 bn in climate finance. Egypt and the IMF <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfbd78c7-f717-4c87-b12e-7c5cdec4e021\/%253cmark%253eimf%253c%2Fmark%253e-reaches-staff-level-agreement-on-third-loan-review\" style=\"\" rel=\"noopener\">reached a staff-level agreement<\/a> on the third review early last month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More details on the delay: <\/strong>Our sources attributed the delay to \u201ctechnical procedures,\u201d without providing any further detail on the matter. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One of<\/strong><strong> the reasons behind the delay: <\/strong>The IMF likely pushed back its meeting as it adopts a wait-and-see approach regarding fuel subsidy cuts \u2014 the government\u2019s fuel pricing committee is expected to meet this month to review pricing. The committee <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/144e0e2f-276a-429d-a414-0b2427177e53\/madbouly-hints-at-pricier-bread,%253cmark%253e-fuel%253c%2Fmark%253e,-electricity\" style=\"\" rel=\"noopener\">last hiked petrol prices in March<\/a>, increasing them by 8-10% and diesel prices by 21.2%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Energy price hikes next: <\/strong>The government is conducting studies to determine the percentage increase to be introduced on electricity and petroleum products, taking the central bank\u2019s inflation targets into account, the source said. The hikes will be carried out gradually and we can expect an announcement of the government\u2019s plan in this regard \u201cvery soon,\u201d they added. The government could also raise the natural gas prices for the industrial sector, after holding them steady for years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>We\u2019ve been anticipating fuel and electricity price hikes for months now, especially after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/144e0e2f-276a-429d-a414-0b2427177e53\/madbouly-hints-at-pricier-bread,%253cmark%253e-fuel%253c%2Fmark%253e,-electricity\" style=\"\" rel=\"noopener\">Prime Minister Moustafa Madbouly signaled<\/a> that we could see more fuel price hikes as the state looks to \u201crestore balance\u201d between cost of production and end price by the end of 2025. He also said that the Electricity Ministry will prepare a plan as to how the government can completely cut its spending on electricity subsidies over the coming four years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But don\u2019t hold your breath: <\/strong>The government will not move forward with electricity price hikes before September as it works to resolve the electricity crisis, an Electricity Ministry source <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e71493a-fde3-4dfc-b0e9-286632532659\/electricity-bill-hikes-put-on-hold-until-september--electricity-ministry-source\" style=\"\" rel=\"noopener\">told us last month<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil hedging still in play:<\/strong> The source confirmed that the government intends to continue hedging against fluctuating oil prices during the current fiscal year, adding that the measure could be extended to other strategic commodities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher:<\/strong> The former government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5509f320-a92c-4c1c-a7a4-fffcfdbb7302\/\" style=\"\" rel=\"noopener\">used hedging contracts<\/a> throughout the fiscal year 2023-24 to hedge against rising oil prices. Additionally, former Assistant Supply Minister Ibrahim Ashmawy first floated the idea of hedging contracts to guard against expected volatility in the price of certain commodities <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/79609299-4e73-451b-a04b-3ac6bb4ef8ab\/\" style=\"\" rel=\"noopener\">in January<\/a>, amid the disruption in the Red Sea.<\/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\/commodities\/\">commodities<\/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\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madbouly-cabinet\/\">Madbouly Cabinet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsidies\/\">subsidies<\/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=\"633507\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" 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WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/16\/el-sisi-ratifies-unified-ins-law-what-does-that-mean-for-the-ins-market\/\">\r\n                            Egypt\u2019s El Sisi ratifies Unified Ins. Law                        <\/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\/16\/el-sisi-ratifies-unified-ins-law-what-does-that-mean-for-the-ins-market\/\" 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\/16\/el-sisi-ratifies-unified-ins-law-what-does-that-mean-for-the-ins-market\/')\">\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\/16\/el-sisi-ratifies-unified-ins-law-what-does-that-mean-for-the-ins-market\/\">\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=El Sisi ratifies Unified Ins. Law \u2014 what does that mean for the ins. market?&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/16\/el-sisi-ratifies-unified-ins-law-what-does-that-mean-for-the-ins-market\/\">\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\/16\/el-sisi-ratifies-unified-ins-law-what-does-that-mean-for-the-ins-market\/&title=El Sisi ratifies Unified Ins. Law \u2014 what does that mean for the ins. market?\">\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=El+Sisi+ratifies+Unified+Ins.+Law+%E2%80%94+what+does+that+mean+for+the+ins.+market%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F07%2F16%2Fel-sisi-ratifies-unified-ins-law-what-does-that-mean-for-the-ins-market%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\/16\/el-sisi-ratifies-unified-ins-law-what-does-that-mean-for-the-ins-market\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1184.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"633509\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/16\/el-sisi-ratifies-unified-ins-law-what-does-that-mean-for-the-ins-market\/1184-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1184.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1184.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1184.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1184.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633508\" class=\"content-area-description single-story post-633508 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-enterpriseam tag-insurance tag-legislation-watch tag-unified-insurance-act 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\/.52951c94-c491-44e0-a0d3-e2537075b391.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>El Sisi ratifies Unified Ins. Law:<\/strong> President Abdel Fattah El Sisi has given the final approval for the Unified Ins. Law, which will draw up new, comprehensive rules for regulating the ins. industry and widen compulsory coverage, according to the Official Gazette. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What it entails:<\/strong> The law will \u201cregulate ins. companies, special funds, obligatory operations such as highway accidents, and state the new supervisory rules for the ins. industry,\u201d House Economic Affairs Committee head Mohamed Soliman <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/317bf16c-ec16-489f-ac56-05ad40a04693\" style=\"\" rel=\"noopener\">said<\/a> in April.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New capital requirements:<\/strong> Ins. companies will need a minimum issued and paid-up capital of EGP 250 mn or its equivalent in FX, up from EGP 60 mn, under the newly-ratified law. Providers of general and property ins. must increase their issued and paid-up capital by EGP 50 mn if they provide ins. for oil, aviation, or energy ins. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A one-year deadline: <\/strong>Ins. companies have one year to meet the new capital requirements \u2014 the Financial Regulatory Authority (FRA) head may extend this deadline for up to two years. The capital increase could bring in EGP 2.9 bn of fresh capital to the market, ins. broker Mohamed Elghatrefy told Enterprise. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ins. companies operating in the market have sufficient financial solvency to meet the <\/strong><strong>new capital requirements<\/strong>, Ins. Federation of Egypt Chairman Alaa El Zoheiry told Enterprise. Elghatrefy added that it is unlikely that firms will turn to the EGX to raise capital to meet the new requirements as shareholders prefer to retain their shares. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The law allows for the establishment of specialized microinsurance companies<\/strong> with issued and paid-up capital of EGP 30 mn, permitting them to combine general and life ins. activities, which \u201crepresents a significant leap towards financial and ins. inclusion,\u201d El Zoheiry told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We could be welcoming new compulsory ins. soon:<\/strong> The law allows the FRA to propose a set of compulsory ins. policies, suitable for the Egyptian market, to be enacted by a cabinet decision specifying the categories, conditions, regulations, and prices for each type. That includes professional indemnity ins., ins. against digital risks for NBFS firms, and marital settlement agreements \u2014 aka divorce ins. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The key to expanding the sector:<\/strong> Introducing more compulsory ins. to the market is the key to expanding the ins. sector, El Zoheiry told Enterprise, adding that the decision comes after years of ins. companies calling for more mandatory ins. to help them expand and increase the number of ins. customers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Larger payouts for car accident victims:<\/strong> The law raises the compensation granted for victims of car accidents to EGP 100k, up from EGP 40k, in cases of death or total permanent disability. <\/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\/insurance\/\">insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/unified-insurance-act\/\">Unified Insurance Act<\/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=\"633510\" 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=\"633510\">\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\">A MESSAGE FROM VISA<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/16\/monetizing-creativity-in-the-creator-economy\/\">\r\n                            Monetizing creativity in the creator economy                        <\/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 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src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/258.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"633511\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/16\/monetizing-creativity-in-the-creator-economy\/258-jpg-33\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/258.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"258.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/258.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/258.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633510\" class=\"content-area-description single-story post-633510 post type-post status-publish format-standard has-post-thumbnail hentry category-a-message-from-visa tag-a-message-from-visa tag-enterpriseam tag-visa wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.b6f209c7-fe18-48fe-bd70-5dc54bb5ef43.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Tune into \"Access Tomorrow\" for a discussion with <strong>Leila Serhan, Visa\u2019s Senior Vice President and Group Country Manager for North Africa, Levant, and Pakistan<\/strong>, alongside <strong>Shant Oknayan, TikTok\u2019s Vice President, Global Business Solutions, Asia, Middle East, Africa, & Oceania.<\/strong> Together, they navigate how Gen Z's tech-adaptivity is redefining digital commerce.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s on the agenda? <\/strong>The dynamics of the creator economy, innovative payment solutions for content creators, and the transformative impact of Gen Z on digital commerce.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">You can listen to the full episode <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=Dver7vQW0dI\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/a-message-from-visa\/\">A MESSAGE FROM VISA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/visa\/\">Visa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"633512\" 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=\"633512\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/16\/e-commerce-platforms-maxab-and-wasoko-to-merge-within-weeks-report\/\">\r\n                            E-commerce platforms MaxAB and Wasoko to merge within weeks -report                        <\/a>\r\n                    <\/h3>\r\n\r\n                    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wp-post-image\" alt=\"\" data-attachment-id=\"633513\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/16\/e-commerce-platforms-maxab-and-wasoko-to-merge-within-weeks-report\/1182-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1182.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1182.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1182.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1182.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633512\" class=\"content-area-description single-story post-633512 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam tag-ma-watch tag-maxab tag-startup-watch tag-wasoko 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\/.50b62c09-3c2a-4692-b26f-4d920dda1ca3.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>MaxAB and Wasoko\u2019s merger is fast approaching:<\/strong> Egyptian B2B e-commerce platform <a target=\"_blank\" href=\"https:\/\/www.maxab.io\/\" style=\"\" rel=\"noopener\">MaxAB<\/a> and Kenya-based <a target=\"_blank\" href=\"https:\/\/wasoko.com\/\" style=\"\" rel=\"noopener\">Wasoko<\/a> are set to complete their merger within the next few weeks, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%85%d8%b5%d8%a7%d8%af%d8%b1-%d8%a5%d8%aa%d9%85%d8%a7%d9%85-%d8%a7%d9%86%d8%af%d9%85%d8%a7%d8%ac-%d9%85%d9%83%d8%b3%d8%a8-%d9%88%d9%88%d8%a7%d8%b3%d9%83%d9%88-%d9%82%d8%b1\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports, citing sources it says have knowledge of the matter. The merger will create a new entity named Maxoko, whose annual operations are projected to hit USD 500 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Remember: <\/strong><span style=\"background-color: transparent;\">The two e-commerce platforms <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d25900ad-f8ff-4827-a81d-82b0f631e945\/\" rel=\"noopener\">inked a preliminary merger agreement<\/a><span style=\"background-color: transparent;\"> back in December with the aim of advancing Africa\u2019s informal retail sector. The transaction \u2014 hailed by the two companies as \u201cthe largest tech merger in Africa\u201d \u2014 is set to create a combined customer base of over 450k merchants serving over 65 mn consumers in eight African countries.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ownership breakdown: <\/strong>Wasoko shareholders will reportedly hold a controlling 55% stake in the merged entity, with the remaining share going to MaxAB shareholders, according to Al Mal.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The where: <\/strong>Maxoko intends to expand its operations in Egypt, Morocco, Rwanda, and Kenya, according to Al Mal \u2014 MaxAB already operates in Egypt and Morocco, while Wasoko is present in Kenya, Tanzania, Rwanda, Uganda, Zambia, and Congo. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Maxoko wants to go public:<\/strong> The company\u2019s long-term plans include listing on a stock exchange. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About <\/strong><strong>the companies:<\/strong> Founded in 2018 by Belal El Megharbel (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/belal-el-megharbel-34718023\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) and Mohamed Ben Halim (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/mohamed-ben-halim-46072511a\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), MaxAB offers a range of e-commerce and fintech services targeting smaller retailers and suppliers. Wasoko was founded in 2013 by Daniel Yu (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/dcyu526\/?originalSubdomain=tz\" style=\"\" rel=\"noopener\">LinkedIn<\/a>). The company enables smaller retailers to restock products for their businesses via mobile app.<\/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\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maxab\/\">MaxAB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wasoko\/\">Wasoko<\/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=\"633514 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=\"633514\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/16\/633514\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633514\" class=\"content-area-description single-story post-633514 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-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"633515\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"633515\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/16\/house-committee-approves-cabinet-policy\/\">\r\n                            Egypt\u2019s House committee approves cabinet policy                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/16\/house-committee-approves-cabinet-policy\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The House general assembly will vote on the policy on Thursday.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${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\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"633517\" 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=\"633517\">\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\/16\/were-getting-two-more-lng-shipments-soon-plus-news-from-telecom-egypt-ebrd-stellantis\/\">\r\n                            Egypt is getting two more LNG shipments soon                        <\/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\/16\/were-getting-two-more-lng-shipments-soon-plus-news-from-telecom-egypt-ebrd-stellantis\/\" 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\/16\/were-getting-two-more-lng-shipments-soon-plus-news-from-telecom-egypt-ebrd-stellantis\/')\">\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\/16\/were-getting-two-more-lng-shipments-soon-plus-news-from-telecom-egypt-ebrd-stellantis\/\">\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=We\u2019re getting two more LNG shipments soon. PLUS: News from Telecom Egypt, EBRD, Stellantis&url=https:\/\/enterpriseam.com\/egypt\/2024\/07\/16\/were-getting-two-more-lng-shipments-soon-plus-news-from-telecom-egypt-ebrd-stellantis\/\">\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\/16\/were-getting-two-more-lng-shipments-soon-plus-news-from-telecom-egypt-ebrd-stellantis\/&title=We\u2019re getting two more LNG shipments soon. 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The shipments will head directly to the Ain Sokhna port where they will be regasified and fed into the national grid. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">So far, we\u2019ve welcomed five shipments:<\/strong><span style=\"background-color: transparent;\"> State gas firm EGAS has so far received five shipments carrying 155k cubic meters of LNG, the Oil Ministry said in a <\/span><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/791858876462419?ref=embed_post\" rel=\"noopener\">statement<\/a><span style=\"background-color: transparent;\">. The shipments are to be regasified on one of the floating storage and regasification units Egypt has access to in Jordan\u2019s terminal in Aqaba and Ain Sokhna port. The remaining 16 shipments will be arriving according to a set timeframe.<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong> Egypt secured 21 LNG shipments last month as it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/454b221a-69a5-4435-864e-86f3fc55f90e\/government-pledges-to-end-power-cuts-by-third-week-of-july-with-usd-1.2-bn-set-aside-for%253cmark%253e-energy%253c%2Fmark%253e-imports-and-other-initiatives\" style=\"\" rel=\"noopener\">works to ensure<\/a> it has sufficient supplies to keep the lights on during the current period of increased demand expected to last till September. The government has <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\">announced<\/a> that it plans to suspend power cuts for the remainder of the summer starting next week.<\/p><p class=\"tag-border-left\">TELECOM-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Telecom Egypt customers will soon have access to 5G services:<\/strong> Telecom Egypt has partnered with Nokia to bring 5G services to select cities across Egypt \u2014 Alexandria, Giza, Luxor, and Aswan \u2014 with the service set to be deployed later this year, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/1137.pdf\" style=\"\" rel=\"noopener\">press<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/1137.pdf\" style=\"\" rel=\"noopener\">release<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/1137.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. Nokia will provide 5G radio access network equipment, alongside assistance with integration and system optimization.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>TE, earlier this year, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a5746aea-05d4-4906-892b-34839fb3d90a\/telecom-egypt-and-huawei-team-up-to-deploy%253cmark%253e-5g%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">partnered with Chinese tech giant Huawei<\/a> to deploy 5G networks, allowing Huawei to set up 5G sites in \u201chotspot areas\u201d throughout Egypt. This came shortly afterTelecom Egypt received the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9ad35377-1b59-4aee-8ba2-5579248b6e3f\" style=\"\" rel=\"noopener\">first 5G license<\/a> in the country from the National Telecommunications Regulatory Authority.<\/p><p class=\"tag-border-left\">AUTOMOTIVE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Stellantis to assemble more of its models locally? <\/strong>Automotive player Stellantis \u2014 the manufacturer of Fiat and Jeep, among others \u2014 is looking into expanding its local assembly line to include two new models, an unnamed government official told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%b3%d8%aa%d9%8a%d9%84%d8%a7%d9%86%d8%aa%d8%b3-%d8%aa%d8%af%d8%b1%d8%b3-%d9%85%d8%b9-%d8%a7%d9%84%d8%b9%d8%b1%d8%a8%d9%8a%d8%a9-%d9%84%d9%84%d8%aa%d8%b5%d9%86%d9%8a%d8%b9\/\" style=\"\" rel=\"noopener\">Al<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%b3%d8%aa%d9%8a%d9%84%d8%a7%d9%86%d8%aa%d8%b3-%d8%aa%d8%af%d8%b1%d8%b3-%d9%85%d8%b9-%d8%a7%d9%84%d8%b9%d8%b1%d8%a8%d9%8a%d8%a9-%d9%84%d9%84%d8%aa%d8%b5%d9%86%d9%8a%d8%b9\/\" style=\"\" rel=\"noopener\">Mal<\/a>. The company is currently in discussions with state-owned Arab Organization for Industrialization over the matter.<\/p><p class=\"tag-border-left\">DEVELOPMENT FINANCE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More funds from the EBRD ahead:<\/strong> The European Bank for Reconstruction and Development (EBRD) wants to on-lend some USD 705 mn to a number of local banks this year, EBRD Associate Director Hashem Abd El Hakim told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/financing-and-investment\/48394\/ebrd-%D9%8A%D9%85%D9%88%D9%84-%D8%A7%D9%84%D9%85%D8%B4%D8%A7%D8%B1%D9%8A%D8%B9-%D8%A7%D9%84%D8%B5%D8%BA%D9%8A%D8%B1%D8%A9-%D9%88%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D8%A9-%D8%A8%D9%85%D8%B5%D8%B1-%D8%A8-705-%D9%85%D9%84%D8%A7%D9%8A%D9%8A%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The funding will be split between SMEs, green energy projects, and bilateral trade.<\/p><p class=\"tag-border-left\">INFRASTRUCTURE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Egypt-Saudi electricity linkup is 60<\/strong><strong>% complete: <\/strong>The USD 1.8 bn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/653bc78e-5d38-4458-975b-249cc9521b61\" style=\"\" rel=\"noopener\">Egypt-Saudi electricity<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/653bc78e-5d38-4458-975b-249cc9521b61\" style=\"\" rel=\"noopener\">interconnection<\/a> is 60% complete, <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/economics\/48478\/%D8%A7%D9%86%D8%AA%D9%87%D8%A7%D8%A1-60-%D8%A8%D8%A7%D9%84%D9%85%D8%A6%D8%A9-%D9%85%D9%86-%D8%A3%D8%B9%D9%85%D8%A7%D9%84-%D8%A7%D9%84%D8%B1%D8%A8%D8%B7-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A6%D9%8A-%D8%A8%D9%8A%D9%86-%D9%85%D8%B5%D8%B1-%D9%88%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reported, citing an unnamed government official. The 3-GW project is scheduled to be completed in two phases. The source estimated that the first 1.5-GW phase is set to go live in July 2025 and the second in early 2026.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Electricity Ministry has more <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0bCY92b7c5iGUmp6nJeyLu2MQPpVASGnf63y3ixXLz2F3E91RAQ6JFMpr1Qo9owv4l\" style=\"\" rel=\"noopener\">ambitious plans<\/a><\/strong>, hoping to have the project generating electricity ahead of next summer to help bridge the gap between heightened energy demand that coincides with the summer and domestic gas production. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Germany\u2019s Siemens to implement automatic train control system on Egypt\u2019s <\/strong><strong>railways<\/strong> after being awarded the EUR 26 mn contract from the National Railway Authority, unnamed sources told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%b3%d9%83%d9%83-%d8%ad%d8%af%d9%8a%d8%af-%d9%85%d8%b5%d8%b1-%d8%aa%d9%83%d9%84%d9%81-%d8%b3%d9%8a%d9%85%d9%86%d8%b2-%d8%a7%d9%84%d8%a3%d9%84%d9%85%d8%a7%d9%86%d9%8a%d8%a9\/\" style=\"\" rel=\"noopener\">Al Mal<\/a>. The authority is currently in the process of acquiring the necessary funds for the first installment of the project, with the project set to begin implementation once Siemens is paid, the sources added. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#3- Elsewedy Cables Qatar lands QAR 1 bn contract: <\/strong>Elsewedy Cables Qatar is set to supply and install 132kV power cables for \u201cstrategic projects\u201d after inking a c. QAR 1 bn (USD 274 mn), three-year engineering, procurement, and construction contract with Qatari state utility company <a target=\"_blank\" href=\"https:\/\/www.km.qa\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Kahramaa<\/a>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/1043.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The company is 73.4% owned by Qatari industrial group Senyar Industries Qatar Holding, which is itself 50% owned by Elsewedy Electric.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>Kahramaa in January 2023 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8950e15a-d2fb-4f06-b64d-b41dd565e48d\/\" style=\"\" rel=\"noopener\">awarded<\/a> Elsewedy Cables Qatar a QAR 1.2 bn 30-month contract to establish a new underground transmission line.<\/p><p class=\"tag-border-left\">TECH-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cloudmania enters Egypt:<\/strong> Cybersecurity consultancy Liquid C2 \u2014 a subsidiary of the Africa-focused tech firm <a target=\"_blank\" href=\"https:\/\/liquid.tech\/\" style=\"\" rel=\"noopener\">Liquid Intelligent Technologies<\/a> \u2014 launched its cloud computing and cybersecurity solutions unit, dubbed Cloudmania, in Egypt, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/1160.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The big picture: <\/strong>Cloudmania has an extensive network of partners across 35 countries in the Middle East and Africa. Through its strategic partnership with Microsoft, Cloudmania has been delivering cloud computing and cybersecurity services, including Microsoft 365 and Azure solutions, to numerous partners.<\/p><p class=\"tag-border-left\">CAPITAL MARKETS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CCS to enter the investment banking game:<\/strong> Cairo Financial Holding\u2019s brokerage arm Cairo Capital Securities (CCS) has received its investment banking license, CEO Ahmed Abu Hussein told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/07\/14\/1808840\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. CCS is also looking to enter the NBFS market through setting its own microfinance outfit, he added.<\/p><p class=\"tag-border-left\">LOGISTICS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alex Container to revamp operations: <\/strong><a target=\"_blank\" href=\"https:\/\/alexcont.com\/\" style=\"\" rel=\"noopener\">Alex Container and Cargo Handling<\/a> will carry out a three-phase development plan put forward by a global consultant to help it improve operations and increase competitiveness, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/1144.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The development plan will take place over the course of five years.<\/p><p class=\"tag-border-left\">AGRICULTURE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Homegrown agribusiness company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/alsalamagri.com.eg\/web4\/en\/\" style=\"\" rel=\"noopener\">Al Salam International<\/a><\/strong><strong> wants to spend EGP 200 mn to <\/strong><strong>cultivate 3k feddans<\/strong> in Beheira and New Valley, Chairman Ahmed Sobhy told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/07\/15\/1809168\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. <\/p><p class=\"tag-border-left\">EARNINGS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Maridive Oil &amp; Services saw its net income rise 152% y-o-y during 1Q 2024<\/strong> to USD 20.4 mn driven by favorable market conditions and higher shipping prices, the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/1204.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. Revenues recorded a 35% y-o-y increase during the quarter to USD 56.1 mn.<\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span 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class=\"content-area-description single-story post-633519 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-interest-rates tag-planet-finance tag-us-federal-reserve 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\/.b0a934e0-af5a-4d70-a612-b265695a5dab.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US Federal Reserve continues to build a case for starting to cut interest rates.<\/strong> Fed boss Jerome Powell said yesterday 2Q 2024 US inflation readings \u201cadd somewhat to confidence\" that inflation is heading towards the central bank\u2019s 2% target, <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/7c34caa9-4664-4515-b743-49c16ed274ac\" style=\"\" rel=\"noopener\">Financial Times<\/a> reported. His remarks add to speculation that the Fed could start cutting interest rates as soon as September.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">What he said: \u201cOur test has been for quite some time that we want to have greater <\/strong><strong style=\"background-color: transparent;\">confidence that inflation was moving sustainably down<\/strong><span style=\"background-color: transparent;\"> towards our 2 percent target, and what increases confidence in that is more good inflation data,\u201d Powell said at an event at the Economic Club of Washington. \u201cAnd lately, we have been getting some of that.\u201d<\/span><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But Powell isn\u2019t calling the ball:<\/strong> \u201cToday I\u2019m not going to be sending any signals one way or the other on any particular meeting,\u201d Powell said. \u201cJust to ruin the fun right at the beginning.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Powell has been (cautiously) talking up the idea that inflation is cooling:<\/strong> He 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 is heading toward the 2% mark. 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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Powell <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-15\/powell-says-recent-data-raise-confidence-inflation-on-path-to-2\" style=\"\" rel=\"noopener\">said<\/a><\/strong><strong> that risks to the labor market were a key focus for the Fed<\/strong> along with elevated. \u201cNow that inflation has come down and the labor market has indeed cooled off, we\u2019re going to be looking at both mandates,\u201d Powell said. \u201cThey\u2019re in much better balance.\u201d He said that \u201can unexpected weakening\u201d in the labor market could stir a reaction by the central bank.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WHY THIS MATTERS- Powell\u2019s comments were the last remarks he is scheduled to make <\/strong><strong>before the Fed meets <\/strong>on July 30-31 at which the bank is widely seen leaving rates unchanged. The earliest most analysts expect a rate cut is at the September policy meeting. <\/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>Powell\u2019s remarks yesterday were in line with market expectations <\/strong>and did little to move markets: Major Asian benchmarks are mixed this morning, with no big swing to in sight. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Across the pond: <\/strong>The Dow closed at another record high yesterday, gaining 200 points as traders shrugged off the attempted assassination of Donald Trump. Wall Street futures were up in overnight trading, while all of the major European benchmarks we track were down slightly. <\/p><p><a target=\"_blank\" id=\"t.1e79e47b1415f44c5f48e57b0be09a833d9af2e7\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-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\">27,952<\/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: +12.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 47.90<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.03<\/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 47.89<\/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 47.99<\/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\">11,948<\/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: -0.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,145<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: -4.5%)<\/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\">4,115<\/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: +1.4%)<\/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>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\">5,631<\/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: +18.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,183<\/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: +5.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,983<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.2% (YTD: +10.2%)<\/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 84.85<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.17<\/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-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 2,427<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 63,718<\/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\">+6.0% (YTD: +50.9%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 0.3% at yesterday\u2019s close<\/strong> on turnover of EGP 3.0 bn (28.2% below the 90-day average). Regional investors were the sole net sellers. The index is up 12.3% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Ibnsina Pharma (+2.4%), Abu Kir Fertilizers (+1.7%), and AMOC (+0.9%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>ADIB (-4.2%), EFG Holding (-2.6%), and Orascom Development (-1.9%).<\/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\/financial-markets\/\">Financial Markets<\/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\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us-federal-reserve\/\">US Federal Reserve<\/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 going-green wp-block-group issue-section\" id=\"633521\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">9<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/breaking-down-the-new-cabinets-green-goals\/\">\r\n                            Breaking down Egypt\u2019s new cabinet\u2019s green goals<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/breaking-down-the-new-cabinets-green-goals\/\" 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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Meanwhile, earlier this month the Electricity Ministry said Egypt plans to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e71493a-fde3-4dfc-b0e9-286632532659\/electricity-bill-hikes-put-on-hold-until-september--electricity-ministry-source\" style=\"\" rel=\"noopener\">push that number to 58%<\/a> by 2040.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The road to a greener Egypt: <\/strong>In efforts to reach its goals, the cabinet will be doubling down on the development of hydroelectric and solar projects and increasing the production of green hydrogen and its derivatives for export and increasing its use domestically \u2014 namely in the industry and transport sectors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Egypt has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15d6f791-948f-4bbb-9bd3-3ddb57475e44\/a-whole-lot-of-green-ambitions-for-el-sisi%25e2%2580%2599s-new-term\" style=\"\" rel=\"noopener\">big green hydrogen ambitions<\/a> as the government works to transform it into a regional hub for green hydrogen production by 2026 and a global hub by 2030, with plans to produce 3.2 mn tons of green hydrogen a year by 2030 and 9.2 mn tons a year by 2040.<\/p>\n<p class=\"tag-border-left\">ON THE ELECTRICITY FRONT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More electricity production: <\/strong>The new cabinet wants to steadily ramp up electricity production from 229 terawatt hours (twh) in the current fiscal year to 242 twh in FY 2026-2027, and 260 twh by 2030. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A recap of the past few years: <\/strong>Electricity production grew at an annualized rate of 2.9% in the ten years leading up to 2023 to settle at some 220.1 twh, according to the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3f023535-aca3-4ee4-8e74-f170996506b4\/a-look-back-at-egypt%25e2%2580%2599s-energy-mix-over-the-last-ten-years\" style=\"\" rel=\"noopener\">Energy Institute\u2019s 2024 Statistical Review of World Energy<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Less waste, consumption: <\/strong>The government wants to cut down on the percentage of energy wasted from 19.4% during the last fiscal year to 12% by 2030. It also wants to reduce energy consumption by 18% by 2035 through developing the electricity grid, promoting the use of energy-saving appliances in households, and putting an end to electricity theft. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Electricity has been a hot topic over the past year or so and all eyes are on the new Electricity Ministry to see how it will tackle rolling blackouts \u2014 the ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7db6d0ec-6a2c-429f-b240-a34fa57dfddf\" style=\"\" rel=\"noopener\">began reducing the electrical load in July 2023<\/a> to ration the consumption of natural gas production. The power cuts were originally blamed on summer heat waves, but after temperatures have fallen, officials noted that the one-hour cut saves the country some USD 300 mn per month. The government is expected to secure the needed natural gas reserves to keep the lights on 24\/7 by the end of next week, cabinet spokesperson Mohamed El Homsani <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02LAvwPsg9L9EVhSZdHzbyhfer8eBbUB5vwWvDoU1YkcNMBGuHQZ65dTzsK7UKByZ9l\" style=\"\" rel=\"noopener\">said<\/a> earlier this week. <\/p>\n<p class=\"tag-border-left\">ON THE ENVIRONMENT FRONT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The document details a long list of environment-related goals for the coming three years<\/strong>, from reducing pollution to finding a way to tackle rising sea levels. Among the most notable are: <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Pollution: <\/strong>The cabinet wants to continue implementing an integrated plan to curb air pollution in line with Egypt Vision 2030. It also wants to set up more networks to monitor air and noise pollution and find a way to control facilities that funnel waste towards the Nile and other bodies of water. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Municipal waste: <\/strong>The cabinet wants to boost the efficiency of solid municipal waste gathering to 85% by FY 2026-2027 and 95% by 2030, from 70% during the last fiscal year. It also wants to increase the percentage of collected solid waste that is safely recycled to 60% by FY 26-27 from 30% last year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Natural reserves: <\/strong>The cabinet wants to continue carrying out its plan to manage the country\u2019s natural reserves ahead of offering them to investors. This also includes setting up public private partnerships to take over the servicing of those areas. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Water security: <\/strong>The cabinet wants to reduce water waste, expand the use of smart irrigation systems, ensure its bodies of water are free of pollution, and boost cooperation with Nile Basin countries all in effort to protect our water security. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Food security: <\/strong>As part of its plan to ensure food security, the cabinet wants to roll out an investment plan to ensure the agriculture sector is not impacted by climate change, increase the quality of its agricultural produce, and improve the agriculture sector\u2019s investment environment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>To fund it all: <\/strong>The cabinet plans to raise the portion of green investments to 60% of total public investments during FY 2026-27 from 40% during the last fiscal year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A whole lotta goals: <\/strong>We previously looked at the new cabinet\u2019s goals for the <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\">economy<\/a> and will be dissecting its goals for infrastructure, logistics, aviation, and more in future issues.<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"633523\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/16\/633523\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-633523\" class=\"content-area-description single-story post-633523 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>25 July (Thursday): National holiday in observance of the 23 July revolution. <\/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>Unified Ins. Law | More LNG shipments | Suez Canal receipts | Mining Forum.<\/p>\n","protected":false},"featured_media":633501,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-633500","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"048924f9-f9bf-42de-a1c8-5368fa00b601","teaser":"Unified Ins. Law | More LNG shipments | Suez Canal receipts | Mining Forum.","photo_url":"https:\/\/ent.news\/2024\/7\/1202.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>IMF, cabinet are in discussion over the new government policy - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/imf-cabinet-are-in-discussion-over-the-new-government-policy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF, cabinet are in discussion over the new government policy\" \/>\n<meta property=\"og:description\" content=\"Unified Ins. 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