{"id":638086,"date":"2024-08-08T00:00:00","date_gmt":"2024-08-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=638086"},"modified":"2025-12-17T15:49:40","modified_gmt":"2025-12-17T15:49:40","slug":"egypt-is-one-of-the-top-african-investment-destinations","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-is-one-of-the-top-african-investment-destinations\/","title":{"rendered":"Egypt is one of the top African investment destinations"},"content":{"rendered":"<section id=\"638088\" 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=\"638088\">\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\/08\/08\/remittances-rise-66-y-o-y-in-june\/\">\r\n                            Remittances from Egyptians abroad rise 66% y-o-y in June                        <\/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\/08\/08\/remittances-rise-66-y-o-y-in-june\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"664.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/664.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/664.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-638088\" class=\"content-area-description single-story post-638088 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-remittances tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.c00b8d6a-e7c4-4bf6-abcd-4f708faf5c78.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, everyone. <\/strong>We have a brisk issue for you this morning to close out one busy week. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BEFORE WE DIVE IN- <\/strong>You don\u2019t want to miss this week\u2019s My Morning Routine, where we explore the Paris Olympics through the head of the Egyptian Olympic Committee's Technical Committee, Karim Akram. Read our interview with him in the news well, below. <\/p><p class=\"tag-border-left\">DATA POINT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>Remittances from Egyptians abroad rose 65.9% y-o-y in June<\/strong>, recording USD 2.6 bn, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/633.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. On a monthly basis, remittances were <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/90a188ae-46ce-489e-8d80-a7aeb264bc28\/%253cmark%253eremittances%253c%2Fmark%253e-surge-73.8%2525-y-o-y-in-may\" style=\"\" rel=\"noopener\">down 3.7%<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Egyptians abroad have started <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8ea59e39-6fc2-4391-a708-7c96349d5908\" style=\"\" rel=\"noopener\">sending more of their remittances<\/a> through official channels after the float of the EGP. Remittance inflows had fallen 30% y-o-y in 2023 on the back of a widening gap between the official rate and parallel market pushing many to send remittances into the country outside official channels. The government said it wants to raise remittances \u2014 one of Egypt\u2019s biggest sources of FX \u2014 from Egyptian expats <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63475988-4cb4-4a7f-8124-9a9bc5677029\" style=\"\" rel=\"noopener\">by 10% each year<\/a> to reach USD 53 bn by 2030.<\/p><p class=\"tag-border-left\">MORE OF THIS, PLEASE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>Egypt is among the top destinations for African investments<\/strong>, coming in third behind the island nations of Seychelles and Mauritius in a new <a target=\"_blank\" href=\"https:\/\/www.rmb.co.za\/where-to-invest-in-africa-2024\" style=\"\" rel=\"noopener\">report<\/a> by South Africa\u2019s Rand Merchant Bank. \u201cEgypt scores well on economic complexity, innovation, human development and income equality,\u201d according to the report. Egypt came in first in terms of economic performance and potential, while South Africa was atop the list for market accessibility and innovation. The report looked at 31 nations across Africa. <\/p><p class=\"tag-border-left\">WATCH THIS SPACE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Gov\u2019t sets growth targets for six years to come:<\/strong> The government sees the economy growing at a 5.5% clip during the fiscal year 2026-27 and 6.5% in 2030, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/993419626161791?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a>. The Madbouly government sees the economy <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/150370b7-8811-44e0-8b91-782cfb66541c\" style=\"\" rel=\"noopener\">growing 4.2%<\/a> during the current fiscal year.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"http:\/\/finance2024.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/272.jpg?ssl=1\"><\/a> <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Do you want to attend our 2024 Enterprise Finance Forum on 24 September? <\/strong>Seating is strictly limited at our flagship, invitation-only forum for C-suite executives and other senior leaders.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why attend? <\/strong>We\u2019re in the early days of a generational realignment of power in our industry \u2014 in our region and beyond \u2014 and on the cusp of the biggest intergenerational transfer of wealth that the world has ever seen. With that as the backdrop, we\u2019re going to take stock of where we stand six months after the float of the EGP and ask what\u2019s next for finance in our country and the wider region. Among the questions we\u2019ll be asking:<\/p><ul>\n<li>What\u2019s Egypt\u2019s role in the regional industry? <\/li>\n<li>What are foreign investors looking for right now? <\/li>\n<li>Is real estate the only asset class in Egypt?<\/li>\n<li>What does the next generation of leaders think as they take over established family businesses?<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Do you want to request an invitation? <\/strong>Tap or click the image above.<\/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\"><a id=\"wwtt3\"><\/a> <strong>Gov\u2019t instructs airlines to avoid Iranian airspace: <\/strong>The Civil Aviation Ministry has sent a safety notice to all local airlines to avoid flying over Iranian airspace for three hours yesterday and today due to military exercises by Iran, the ministry said in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/moca123\/posts\/pfbid03UuZcB5EZQahg1Bjg5hYB2YUJZB549BHf5yzZuWiCX7sdt3LyPAv45UytBTo8tvbl?locale=ar_AR\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. Airlines were asked to avoid flying over Iran from 11:30am to 2:30pm yesterday and from 4:30am to 7:30am today, Tehran time. The move follows a notification sent by Iranian authorities to all civil aviation companies crossing over Iranian airspace, the statement reads. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Concerns over an escalation in regional hostilities:<\/strong> The move comes amid concerns of escalation between Iran and Israel following Hamas leader Ismail Haniyeh\u2019s assassination in Tehran, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/egypt-asks-its-airlines-avoid-iran-air-space-three-hours-thursday-2024-08-07\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s another sunny day in Cairo<\/strong>, with a high of 36\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 a little cooler in Alexandria<\/strong>, with a high of 33\u00b0C and a low of 24\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And over the weekend, <\/strong>expect to see a high of 36\u00b0C in the capital.<\/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\">HAPPENING TODAY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Attention, techies: <\/strong>The <a target=\"_blank\" href=\"https:\/\/io.gdscegypt.dev\/\" style=\"\" rel=\"noopener\">Google I\/O Extended MENA<\/a> event will kick off today with five keynote speeches, 30+ talks and panels, and over 90 workshops covering a wide range of topics including web development and AI. You can check out the full agenda and list of speakers <a target=\"_blank\" href=\"https:\/\/io.gdscegypt.dev\/\" style=\"\" rel=\"noopener\">here<\/a> or see if you can register last minute for the event in Shorouk City <a target=\"_blank\" href=\"https:\/\/io.gdscegypt.dev\/ticket\" style=\"\" rel=\"noopener\">here<\/a>. <\/p><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Like your energy sustainable? <\/strong>The <a target=\"_blank\" href=\"https:\/\/csew.net\/\" style=\"\" rel=\"noopener\">Cairo Sustainable Energy Week<\/a> is set to take place between 1-3 October at the Nile-Ritz Carlton in Cairo and host the world\u2019s leading figures in the sector to discuss the challenges and promise of the renewables sector in the region. <a target=\"_blank\" href=\"https:\/\/csew.net\/registration-2024\/\" style=\"\" rel=\"noopener\">Register here<\/a> to attend the event.<\/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- The country\u2019s largest ever logistics exhibition is set to take place in 2026:<\/strong> Egypt is set to partner with an unnamed German logistics company to hold the country\u2019s largest logistics exhibition, which will aim to boost logistics ties with the African continent, <a target=\"_blank\" href=\"https:\/\/www.youm7.com\/story\/2024\/8\/5\/%D8%B1%D8%A6%D9%8A%D8%B3-%D9%87%D9%8A%D8%A6%D8%A9-%D8%A7%D9%84%D9%85%D8%B9%D8%A7%D8%B1%D8%B6-%D8%B4%D8%B1%D9%83%D8%A9-%D8%A3%D9%84%D9%85%D8%A7%D9%86%D9%8A%D8%A9-%D8%AA%D8%B3%D8%B9%D9%89-%D9%84%D8%AA%D8%AF%D8%B4%D9%8A%D9%86-%D8%A3%D9%83%D8%A8%D8%B1-%D9%85%D8%B9%D8%B1%D8%B6-%D9%84%D9%88%D8%AC%D8%B3%D8%AA%D9%8A%D8%A7%D8%AA\/6664333\" style=\"\" rel=\"noopener\">Youm 7<\/a> reports, citing Exhibitions and Conventions Authority Chairman Sherif Al Mawardy. The exhibition is slated to take place in Egypt in 2026 with a focus on supply chains, shipping, and logistics handling.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s no single story clearly capturing the international press\u2019 imagination this <\/strong><strong>morning<\/strong>, giving us instead a mixed bag of the latest from the US presidential race and some analysis on the Palestine-Israel conflict. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kamala Harris and her newly-minted running mate Tim Walz are making campaign stops <\/strong><strong>in key swing states in the Upper Midwest<\/strong> \u2014 a critical area to ensure they get voted into the White House this November. Harris\u2019 campaign raised some USD 36 mn in the first 24 hours after announcing Walz as her vice presidential pick. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/democrats-harris-walz-campaign-crucial-michigan-wisconsin-2024-08-07\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2024\/08\/07\/us\/harris-trump-election\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/live\/trump-harris-vp-pick-election-updates\" style=\"\" rel=\"noopener\">AP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/us-news\/live\/2024\/aug\/07\/kamala-harris-tim-walz-vp-election-campaign-updates\" style=\"\" rel=\"noopener\">Guardian<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE-<\/strong> Hamas\u2019 appointment of Yahya Sinwar as its new political chief is the subject of analysis pieces in <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-08-07\/hamas-new-political-chief-sinwar-has-a-cunning-and-brutal-past?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/world\" style=\"\" rel=\"noopener\">Financial Times<\/a>, and the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/yahya-sinwar-leadership-hamas-iran-ties-68f2d4ba?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>, all of whom are looking at Sinwar\u2019s past and what his appointment means for Gaza and the prospects of a ceasefire with Israel.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over in Bangladesh:<\/strong> Nobel laureate Muhammad Yunus, who has long been a political adversary of Bangladesh's deposed Prime Minister Sheikh Hasina, has been appointed as the country's interim leader. (<a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/asia-pacific\/20240807-muhammad-yunus-the-nobel-laureate-tasked-with-rebuilding-democracy-in-bangladesh\" style=\"\" rel=\"noopener\">France24<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/08\/07\/asia\/muhammad-yunus-bangladesh-government-intl-hnk\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/c0499xpnp1yo\" style=\"\" rel=\"noopener\">BBC<\/a>)<\/p><p class=\"tag-border-left\">OLYMPICS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another eventful day at the Paris Olympics<\/strong> kicked off with the 20 km mixed walk race \u2014 the latest discipline added to the Olympics this year \u2014 which was won by the Spanish duo \u00c1lvaro Mart\u00edn and Mar\u00eda P\u00e9rez.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Australia had its best Olympic day in history<\/strong> yesterday, adding four golds to its haul. Most notably, 21-year-old Keegan Palmer held on to the men's skateboarding gold after first winning in during the Tokyo 2020 games, where the sport made its debut. Yesterday\u2019s wins pushed Australia to third place in the medal standings with 18 golds \u2014 five more than host France in fourth place.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Moroccan Soufiane El Bakkali successfully defended his title <\/strong>in the 3,000m steeplechase after one thrilling tactical race. El Bakkali became the first athlete to bag the event\u2019s gold back-to-back since 1936.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE-<\/strong>Saudi taekwondo player Dunya Abu Talib was one step away from becoming the first Saudi woman to win an Olympic medal, before losing the bronze match in the -49 kg category to Iran's Mobina Nematzadeh. Abu Talib started her day yesterday by defeating Israeli player Abishag Semberg in the round of 16.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The medal standings now at the Paris Olympics:<\/strong><\/p><ul>\n<li><strong>USA <\/strong>(27 gold, 94 overall)<\/li>\n<li><strong>China <\/strong>(25 gold, 65 overall)<\/li>\n<li><strong>Australia <\/strong>(18 gold, 41 overall)<\/li>\n<li><strong>France <\/strong>(13 gold, 51 overall)<\/li>\n<li><strong>UK <\/strong>(12 gold, 49 overall)<\/li>\n<li><strong>Korea <\/strong>(12 gold, 27 overall)<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>TEAM EGYPT- It was a sad day for team Egypt<\/strong>, with our handball team losing 29-28 to Spain and getting eliminated from the quarterfinal and wrestler Mohamed Gabr failed to secure his spot at the podium after losing 2-1 to Kyrgyzstan\u2019s Uzur Dzhuzupbekov.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The match of the day: <\/strong>Egypt will face Morocco tonight at 6:00 pm for the men\u2019s football bronze medal match. The Pharaohs lost 3-1 to host France in the semifinal of the men\u2019s Olympic football tournament earlier this week. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>The men\u2019s and women\u2019s individual fencing ranking round of the modern pentathlon is taking place today and four of our own are competing. Ahmed Elgendy and Mohanad Shaban are participating in the men\u2019s round, taking place at 12:00 pm, and Salma Abdelmaksoud and Malak Ismail are taking part in the women\u2019s round at 3:30 pm.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong> Here are other matches to keep your eyes out for today:<\/p><ul>\n<li><strong>Taekwondo: <\/strong>Ahmed Nassar will face the French Souleyman Alaphilippe for the men\u2019s under 68kg round of 16 at 10:21 am. <\/li>\n<li><strong>Wrestling: <\/strong>Gamal Mohamed will face Puerto Rico\u2019s Darian Toi Cruz for the men\u2019s freestyle 57kg weight group at 12:00 pm.<\/li>\n<li><strong>Cycling track: <\/strong>Youssef Abouelhassan will be competing in the men\u2019s omnium scratch race at 6:00 pm.<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You can follow Team Egypt <\/strong>through <a target=\"_blank\" href=\"https:\/\/olympics.com\/en\/paris-2024\/schedule\/egypt?day=8-August\" style=\"\" rel=\"noopener\">this schedule<\/a> or by heading over to our <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9fed306a-c343-4b65-89ea-8009bb653841\/everything-you-need-to-know-about-paris-olympics-2024\" style=\"\" rel=\"noopener\">Paris 2024<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9fed306a-c343-4b65-89ea-8009bb653841\/everything-you-need-to-know-about-paris-olympics-2024\" style=\"\" rel=\"noopener\">Guide<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to see when your favorite sport is on?<\/strong> <a target=\"_blank\" href=\"https:\/\/olympics.com\/en\/paris-2024\/schedule\/29-july\" style=\"\" rel=\"noopener\">Check out the official schedule here<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div 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#OneParadiseAllSeasons #SomabayRedSea<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"638091\" 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=\"638091\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/08\/govt-eyes-two-new-hydropower-projects-in-upper-egypt\/\">\r\n                            Gov\u2019t eyes two new hydropower projects in Upper Egypt                        <\/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\/08\/08\/govt-eyes-two-new-hydropower-projects-in-upper-egypt\/\" 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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data-image-meta=\"[]\" data-image-title=\"663.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/663.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/663.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-638091\" class=\"content-area-description single-story post-638091 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-electricity-ministry tag-energy tag-enterpriseam tag-renewable-energy 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\/8\/.5db846f9-09a0-4947-8515-8025803cd75e.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Hydropower projects incoming?<\/strong> The government has reportedly wrapped up studies for two pumped storage hydropower projects in Luxor and Qena with a combined capacity of 2 GW, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/power\/50585\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%AF%D8%B1%D8%B3-%D8%AA%D8%B4%D9%8A%D9%8A%D8%AF-%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D9%8A%D9%86-%D9%84%D8%A5%D9%86%D8%AA%D8%A7%D8%AC-%D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D9%88%D9%85%D8%A7%D8%A6%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing an unnamed government official. The projects could cost up to USD 2.5 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve heard about this before:<\/strong> The news follows reports that the Electricity Ministry plans to carry out <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9a2d8e31-7b35-4552-8bf5-9318de0121b4\/\" style=\"\" rel=\"noopener\">USD 4 bn worth of hydroelectric power projects<\/a> in partnership with private sector players. Among these projects, the ministry is looking to set up a water pumping and storage station with a capacity of 2.4 GW in Egypt\u2019s mountainous Ataka region. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nile water to power the new projects:<\/strong> Unlike the Ataka project, which will use treated wastewater, the new projects will utilize Nile water.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART:<\/strong> Pumped storage hydropower works by using surplus electricity to pump water uphill into a reservoir in periods of low demand or high supply, releasing it downhill through turbines to generate electricity when demand rises or supply falls. This energy storage method allows networks that rely on solar and wind power to keep the lights on even when the wind drops or the sun goes down.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Private sector in focus:<\/strong> The Electricity Ministry plans to offer these projects to investors \u201cover the coming period,\u201d the source told the news outlet.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The Electricity Ministry recently announced that it wants <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e71493a-fde3-4dfc-b0e9-286632532659\" style=\"\" rel=\"noopener\">renewables to make up<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e71493a-fde3-4dfc-b0e9-286632532659\" style=\"\" rel=\"noopener\">58%<\/a> of Egypt\u2019s total energy mix by 2040, up from its previous target of 42% by 2030. Currently hydroelectric power <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9a2d8e31-7b35-4552-8bf5-9318de0121b4\" style=\"\" rel=\"noopener\">accounts for 5%<\/a> of the country\u2019s total renewables capacity.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity-ministry\/\">Electricity Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span 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         class=\"\r\n                story-section            \"\r\n            id=\"638094\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/08\/palm-holding-ups-stake-in-incolease\/\">\r\n                            Egypt\u2019s Palm Holding for Financial Investments ups stake in Incolease                        <\/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            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  <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Palm+Holding+ups+stake+in+Incolease+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F08%2F08%2Fpalm-holding-ups-stake-in-incolease%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\/08\/08\/palm-holding-ups-stake-in-incolease\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/661.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"638095\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/08\/palm-holding-ups-stake-in-incolease\/661-jpg-28\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/661.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"661.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/661.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/661.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-638094\" class=\"content-area-description single-story post-638094 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam tag-incolease tag-ma-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.294913d8-462d-47f5-a545-6b85d37f6043.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Palm Holding ups stake in Incolease:<\/strong><span style=\"background-color: transparent;\"> Palm Holding for Financial Investments has acquired the British Arab Commercial Bank\u2019s stake in the International Company for Leasing (Incolease) for EGP 70.8 mn, according to EGX disclosures (<\/span><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/610.pdf\" rel=\"noopener\">here, pdf<\/a><span style=\"background-color: transparent;\"> and <\/span><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/611.pdf\" rel=\"noopener\">here, pdf<\/a><span style=\"background-color: transparent;\">). The transaction brings Palm Holding\u2019s stake in Incolease to 26.9%.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>Palm Holding acquired some 1.73 mn shares in Incolease for around EGP 41 per share. Commercial International Brokerage Company (CIBC) was the broker on the transaction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Palm Hills Developments <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4a9911fa-f611-4c6c-baf3-e13627e029ef\/is-egypt-brewing-up-a-fresh-export-subsidy-program%3F\" style=\"\" rel=\"noopener\">restructured<\/a> its stake in Incolease and sold it to Palm Holding in a EGP 149.9 mn transaction back in February 2023. A consortium of four state-owned banks and ins. companies had <a target=\"_blank\" href=\"https:\/\/enterprise.press\/stories\/2022\/04\/17\/fab-drops-its-bid-for-efg-hermes-plus-incolease-mondi-in-transactions-69538\/\" style=\"\" rel=\"noopener\">exited<\/a> Incolease in 2022, selling their 38.7% stake for EGP 316.9 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What the company does:<\/strong> Incolease offers leasing services with a focus on assets including commercial vehicles, machinery, IT equipment, production lines, and real estate.<\/p>\n<p class=\"tag-border-left\">CITY LAB EXPANDS PORTFOLIO- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>City Lab to own 50% of two firms:<\/strong> Medical diagnostic services provider City Lab will own a 50% stake in each of Egypt-based firm Distinguished Diagnostics and Saudi firm Saudi Egyptian Company for Medical Laboratories, both through capital increases, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/618.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. City Lab is paying some SAR 100k (EGP 1.3 mn) for its stake in Saudi Egyptian Company for Medical Laboratories and EGP 4.4 mn for its stake in Distinguished Diagnostics. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not the only acquisition on City Lab\u2019s radar: <\/strong>In July, City Lab appointed the Financial Advice Corporate Transactions (FACT) as independent financial advisor to provide a second opinion on the value of acquisition target Cairo Clinical Labs, after its board approved the due diligence conducted for the acquisition. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Premium Diagnostics UAE upped its ownership in City Lab to 25.0% in June.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/incolease\/\">Incolease<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"638096 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=\"638096\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/08\/638096\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-638096\" class=\"content-area-description single-story post-638096 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.global\/en\/locations\/Egypt\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/674.png?ssl=1\"><\/a><\/span><\/p>\n\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=\"638097\" 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=\"638097\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/08\/mohamed-farid-is-fra-head-for-another-year\/\">\r\n                            Mohamed Farid to head Egypt\u2019s FRA for another year                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/08\/mohamed-farid-is-fra-head-for-another-year\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Farid has been heading the authority since <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44cce70e-9e32-4176-848b-df0c7a3fcf7f\" style=\"\" rel=\"noopener\">August 2022<\/a> and previously served as head of the EGX. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On his agenda for year three: <\/strong>The FRA will \u201ccomplete the reform and development process to strengthen the role of the non-banking financial sector in the national economy and support the objectives of comprehensive development plans,\u201d Farid said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong> <strong>Vaalco welcomes a new Egypt country manager:<\/strong> US-based energy player <a target=\"_blank\" href=\"http:\/\/www.vaalco.com\/\" style=\"\" rel=\"noopener\">Vaalco Energy<\/a> has appointed Iman Hill (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/iman-hill-87766045\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as the company\u2019s new Egypt country manager, the company said in a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/vaalco-energy_vaalco-energy-inc-is-delighted-to-announce-activity-7226635397924110337-nh6y\/?utm_source=share&utm_medium=member_ios\" style=\"\" rel=\"noopener\">statement<\/a>. Hill has almost 30 years of expertise in the energy field, having worked for energy giants such as Shell, Dana Gas, and Energean. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-farid\/\">Mohamed Farid<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"638099 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=\"638099\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/08\/638099\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-638099\" class=\"content-area-description single-story post-638099 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\/SodicContactUs\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1877.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"638100\" 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=\"638100\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/08\/the-handball-teams-defeat-at-the-olympics-echoed-on-the-airwaves-last-night\/\">\r\n                            The Egyptian handball team\u2019s defeat at the Olympics echoed on the airwaves last night                        <\/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\/08\/08\/the-handball-teams-defeat-at-the-olympics-echoed-on-the-airwaves-last-night\/\" 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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Ala Mas\u2019ouleety\u2019s Ahmed Moussa lambasted the team\u2019s performance, describing it as a \u201cdisappointment\u201d that fell short of the Egyptian people's high hopes (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=mNwtclQKogM\" style=\"\" rel=\"noopener\">watch, runtime: 3:37<\/a> | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=giZlVyZiDcU\" style=\"\" rel=\"noopener\">4:33<\/a>).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"638102\" 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=\"638102\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/08\/nbk-egypt-provides-financing-for-sokhna-container-terminal-plus-news-from-rameda-infinity-enara-msmeda\/\">\r\n                            NBK Egypt provides financing for Sokhna container terminal                        <\/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\/08\/08\/nbk-egypt-provides-financing-for-sokhna-container-terminal-plus-news-from-rameda-infinity-enara-msmeda\/\" 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\/08\/08\/nbk-egypt-provides-financing-for-sokhna-container-terminal-plus-news-from-rameda-infinity-enara-msmeda\/')\">\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\/08\/08\/nbk-egypt-provides-financing-for-sokhna-container-terminal-plus-news-from-rameda-infinity-enara-msmeda\/\">\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=NBK Egypt provides financing for Sokhna container terminal. PLUS: News from Rameda, Infinity, Enara, MSMEDA&url=https:\/\/enterpriseam.com\/egypt\/2024\/08\/08\/nbk-egypt-provides-financing-for-sokhna-container-terminal-plus-news-from-rameda-infinity-enara-msmeda\/\">\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\/08\/08\/nbk-egypt-provides-financing-for-sokhna-container-terminal-plus-news-from-rameda-infinity-enara-msmeda\/&title=NBK Egypt provides financing for Sokhna container terminal. PLUS: News from Rameda, Infinity, Enara, MSMEDA\">\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=NBK+Egypt+provides+financing+for+Sokhna+container+terminal.+PLUS%3A+News+from+Rameda%2C+Infinity%2C+Enara%2C+MSMEDA+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F08%2F08%2Fnbk-egypt-provides-financing-for-sokhna-container-terminal-plus-news-from-rameda-infinity-enara-msmeda%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\/08\/08\/nbk-egypt-provides-financing-for-sokhna-container-terminal-plus-news-from-rameda-infinity-enara-msmeda\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/657.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"638103\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/08\/nbk-egypt-provides-financing-for-sokhna-container-terminal-plus-news-from-rameda-infinity-enara-msmeda\/657-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/657.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"657.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/657.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/657.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-638102\" class=\"content-area-description single-story post-638102 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-comesa tag-debt tag-egyptian-general-petroleum-corporation tag-enterpriseam tag-infinity tag-infrastructure tag-logistics tag-nbk-egypt tag-politics tag-rameda-pharma tag-renewables tag-smes tag-somalia tag-trade 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\/8\/.0443fc7e-1f4b-4027-94f9-72a8e04ba100.mp3\"><\/audio><\/figure>\n<p class=\"tag-border-left\">DEBT WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- NBK Egypt helps fund Ain Sokhna container terminal: <\/strong>The National Bank of Kuwait Egypt has extended USD 93 mn worth of credit facilities to construction firm <a target=\"_blank\" href=\"https:\/\/www.edecs.com\/\" style=\"\" rel=\"noopener\">EDECS<\/a> for the construction of the container terminal at Ain Sokhna Port, the bank said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/643.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The funding is part of the bank\u2019s strategy to support large national projects, including ports, the statement reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> EDECS last month <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fdb9c3e1-c997-41a9-a841-5e452e086f3d\" style=\"\" rel=\"noopener\">broke ground<\/a> on the new container terminal after it inked a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/2f31638f-9f27-46b8-b3eb-1aedfd2efa6e\/\" style=\"\" rel=\"noopener\">construction contract<\/a> with the Red Sea Container Terminals Company to execute and deliver the project within 18 months. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- EGPC pushes back payment:<\/strong> The Egyptian General Petroleum Corporation (EGPC) has reached an agreement with a consortium of local banks to receive a one-year grace period on paying off some USD 2 bn in dues, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/banks\/50582\/%D9%87%D9%8A%D8%A6%D8%A9-%D8%A7%D9%84%D8%A8%D8%AA%D8%B1%D9%88%D9%84-%D8%A8%D9%85%D8%B5%D8%B1-%D8%AA%D8%A4%D8%AC%D9%84-%D8%B3%D8%AF%D8%A7%D8%AF-%D9%85%D9%84%D9%8A%D8%A7%D8%B1%D9%8A-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%84%D8%AA%D8%AD%D8%A7%D9%84%D9%81-%D8%A8%D9%86%D9%88%D9%83-%D9%85%D8%AD%D9%84%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing four unnamed sources with knowledge of the matter. The EGPC will start paying back its dues in FX at the beginning of 2026, instead of 2025, one source said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PHARMA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rameda gets greenlight to hike prices:<\/strong> Local pharma player Rameda has received approval from the Egyptian Drug Authority (EDA) to increase the prices of 22 units across its brands by an average 40-50%, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/616.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. \u201cApprovals have been progressively granted since the end of May 2024 and continue to be received,\u201d the release said, adding that \u201cThis will ensure the restoration of gross profit margins as well as the ongoing development, production, and supply of essential medications.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong>Some med prices were hiked an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/862efbea-9bc6-40b6-8d32-1ad9e18c24ae\/\" style=\"\" rel=\"noopener\">average of 25%<\/a> last month <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b514c8d2-44d3-41f8-9eac-ef500d9b464c\/\" style=\"\" rel=\"noopener\">per requests from<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b514c8d2-44d3-41f8-9eac-ef500d9b464c\/\" style=\"\" rel=\"noopener\">local pharma companies<\/a> following the deterioration in the EGP \/ USD exchange rate following March\u2019s float of the EGP.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TRADE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt wants African countries to respect custom exemptions:<\/strong> The Trade Ministry has contacted Comesa in an effort to get Congo, Somalia, Uganda, and Eswatini to implement the customs exemptions stipulated in the bloc\u2019s trade agreement, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/08\/06\/1815442\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing unnamed sources. The four countries in question and Ethiopia \u2014 which has only implemented 10% of the exemptions \u2014 claimed that their dire economic conditions require them to maximize customs revenue. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">RENEWABLES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Arafa Trade goes green:<\/strong> Our friends at renewables company Infinity have signed a contract with agriculture producer <a target=\"_blank\" href=\"https:\/\/www.arafatrade.com\/\" style=\"\" rel=\"noopener\">Arafa Trade<\/a> to operate a 15 MW solar power station, Arafa Trade Chairman Yasser Arafa told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/08\/07\/1813873\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The EGP 200 mn station aims to reduce the company's reliance on electric generators by about 40% at its farm, export station, and cold storage facility in Farafra.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- More investments from Enara:<\/strong> Africa-focused renewables player Enara Group is looking to invest some USD 1 bn in the renewable energy sector in Egypt and Africa alongside international institutions through 2030, CEO Sherif El Gabaly tells <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/08\/07\/1815356\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The funds would be used to develop 2 GWs worth of renewable energy, El Gabaly said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A lot more than we were expecting: <\/strong>El Gabaly last month <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/179241f9-d98f-4163-8f84-1ed70cc00d93\/gov%25e2%2580%2599t-wants-to-set-up-a-pharma-raw-material-hub.-plus:-news-from-opay,-telecom-egypt,-madinet-masr\" style=\"\" rel=\"noopener\">said<\/a> that the group is looking to invest some USD 100 mn in the local renewable energy sector through 2027 as it looks to increase its investments in existing organic and biofuel companies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">POLITICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt to support new peacekeeping mission in Somalia: <\/strong>Egypt and Djibouti have offered to back a new peacekeeping mission in Somalia dubbed the African Union Support and Stabilization Mission in Somalia (AUSSOM), the AU\u2019s Peace and Security Council said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/653.pdf\" style=\"\" rel=\"noopener\">communiqu\u00e9<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/653.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a> last week. The council approved the creation of AUSSOM to replace a similar force that ends this year \u2014 the AU Transition Mission in Somalia (ATMIS). It is unclear what type of support the two countries have offered to provide. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MSMEs-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Funds up for grabs for local SMEs:<\/strong> The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) will disburse some EGP 100 mn in financing for small-scale projects across Egypt through the offices of Beltone subsidiary Cash for Microfinance, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02MBvAbc4ZgFmafcQP7syZzpK5sAVLyaXZ5C4WvrCZK67sHGxm815ha5bQdunMeGZYl\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">HOSPITALITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Restructuring at Remco: <\/strong><a target=\"_blank\" href=\"https:\/\/remcogroup.net\/\" style=\"\" rel=\"noopener\">Remco Group<\/a> will acquire construction firm <a target=\"_blank\" href=\"https:\/\/www.ayoubco.com\/index.html\" style=\"\" rel=\"noopener\">Ayoubco<\/a> and sell Remco subsidiary Egyptian Tourism Village Construction after its board approved the decisions, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/647.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The company will tap a financial advisor to determine the fair value of both companies before moving forward. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/comesa\/\">COMESA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-general-petroleum-corporation\/\">Egyptian 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     <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"638104\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"638104\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/08\/qatar-throws-its-weight-into-tussle-over-china-minerals-dominance\/\">\r\n                            Qatar throws its weight behind US-backed mining investment vehicle amid concerns over China minerals dominance                        <\/a>\r\n                    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wp-post-image\" alt=\"\" data-attachment-id=\"638105\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/08\/qatar-throws-its-weight-into-tussle-over-china-minerals-dominance\/655-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/655.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"655.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/655.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/655.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-638104\" class=\"content-area-description single-story post-638104 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-mining tag-planet-finance tag-qatar 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\/8\/.d808c402-4fb7-4a3b-bb54-5dfe4a40e3c4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A mining investment vehicle backed by the US\u2019 development bank just got a big<\/strong><strong> infusion of funds: <\/strong>Qatar\u2019s sovereign wealth fund is <a target=\"_blank\" href=\"https:\/\/www.qia.qa\/en\/Newsroom\/Pages\/QIA-to-Invest-%24180-Million-in-TechMet.aspx\" style=\"\" rel=\"noopener\">investing USD 180 mn<\/a> in Dublin-based TechMet, a company that has pumped <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/7f07d21b-310e-413b-a4b4-5d9be274ea28\" style=\"\" rel=\"noopener\">USD 450 mn<\/a> into rare earth mineral extraction and production in a bid to counter China\u2019s dominance of the strategic minerals sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The agreement marks a win for the US<\/strong> in its broader push to get Gulf states to throw their financial weight behind the US\u2019 campaign to limit reliance on Chinese-produced minerals. The country of 1.4 bn people accounts for 90% of global rare earth refining, giving it a big advantage in tech manufacturing, and produces 60% of the world\u2019s EV battery-grade lithium \u2014 critical for the burgeoning EV sector and the green economy. Last year, China\u2019s <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2fa865a7-176f-4292-8842-38bb6470d732\" style=\"\" rel=\"noopener\">d<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2fa865a7-176f-4292-8842-38bb6470d732\" style=\"\" rel=\"noopener\">ecision to<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2fa865a7-176f-4292-8842-38bb6470d732\" style=\"\" rel=\"noopener\">impose export restrictions<\/a> on gallium and germanium \u2014 key metals used in chip and EV manufacturing \u2014 sent ripples through the US and Europe, stoking fears that China might deploy its mineral dominance to effectively shut down key American and European industries.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite US cajoling, Qatar\u2019s recent investment wasn\u2019t always a sure thing. <\/strong>The GCC member maintains warm relations with Beijing, one of the biggest buyers of the country\u2019s natural gas, and <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/qatar-does-not-see-its-relationship-with-china-damaging-us-pm-2023-08-25\/\" style=\"\" rel=\"noopener\">has indicated in the past<\/a> that it doesn\u2019t want its close relationship with the US to come at the expense of its ties with China. Many companies also remain leery of major investments in strategic minerals, given uncertainty about future EV demand and governments\u2019 commitment to hitting their climate goals.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Still, an investment in TechMet allows Qatar to add to its existing portfolio in critical<\/strong><strong> minerals<\/strong>, which currently includes an 8.6% stake in mining and commodity training giant Glencore. As Saudi Arabia and the UAE continue to eye investments in strategic minerals, this first collaboration between the US and a GCC state on minerals might not be the last.<\/p><p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mostly in the red <\/strong>in early trading this morning. The Nikkei is looking at the biggest losses, down almost 1.20% as of dispatch. The Kospi (-0.9%) and Hang Seng (-0.8%) are also down this morning. <\/p><p><a target=\"_blank\" id=\"t.2640a4001222bc7526e41b7b67c8c27bf5a47350\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28,628<\/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\">+1.5% (YTD: +15.0%)<\/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 49.16<\/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 49.30<\/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>USD (CIB)<\/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 49.15<\/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 49.25<\/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\">11,730<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: -2.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,180<\/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\">+1.1% (YTD: -4.2%)<\/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>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\">4,198<\/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\">+1.5% (YTD: +3.4%)<\/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>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\">5,200<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: +9.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,167<\/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\">+1.8% (YTD: +5.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,668<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.0% (YTD: +3.2%)<\/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>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 78.33<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.4%<\/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>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 2.09<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,423<\/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>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 55,186<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.2% (YTD: +30.6%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 1.5% at yesterday\u2019s close<\/strong> on turnover of EGP 4.0 bn (11.3% above the 90-day average). Local investors were net buyers. The index is up 15.0% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Ezz Steel (+11.8%), Elsewedy Electric (+5.1%), and Talaat Moustafa Group (+4.0%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Cleopatra Hospitals (-2.5%), Oriental Weavers (-0.8%), and Abu Qir Fertilizers (-0.7%).<\/p><p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EGX gives BdC the greenlight to raise its capital:<\/strong> The EGX listing committee has approved Banque du Caire\u2019s request to raise its authorized capital to EGP 50 bn from EGP 20 bn as well as to increase its issued and paid-up capital to EGP 19 bn from EGP 10 bn, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/646.jpg\" style=\"\" rel=\"noopener\">EGX bulletin<\/a>. The bank will implement the latter increase by issuing 4.5 bn shares with a nominal value of EGP 2 each. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> BdC had filed the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b8569f1f-2c3f-44f8-9c9b-3a681267f92f\/\" style=\"\" rel=\"noopener\">request<\/a> with the EGX to raise its capital last month.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mining\/\">mining<\/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\/qatar\/\">Qatar<\/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=\"638106\" 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=\"638106\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/08\/karim-akram-managing-director-of-lyve-and-head-of-the-egyptian-olympic-committees-technical-committee\/\">\r\n                            My Morning Routine: Karim Akram, managing director of Lyve and head of the Egyptian Olympic Committee's Technical Committee                        <\/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\/08\/08\/karim-akram-managing-director-of-lyve-and-head-of-the-egyptian-olympic-committees-technical-committee\/\" 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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Speaking to us this week for a special Olympics version of My Morning Routine is Karim Akram (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/karim-akram-07857b1\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), co-founder and Managing Director of property management startup <a target=\"_blank\" href=\"https:\/\/www.lyve-app.com\/\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.lyve-app.com\/\" style=\"\" rel=\"noopener\">Lyve<\/a>, who is currently in Paris as the head of the Egyptian Olympic Committee's Technical Committee.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">My name is Karim Akram. <\/strong><span style=\"background-color: transparent;\">On the entrepreneurial side, I founded Orion360 \u2014 an IT consulting firm \u2014 and I\u2019m the co-founder and managing director of Lyve \u2014 an app for managing residential communities. On the sporting side, I used to be an 800m champion and I\u2019m now a member of the board of the Egyptian Athletics Federation and the head of the Technical Committee at the Egyptian Olympic Committee. I\u2019m also a father of three children, aged 26, 24, and 19.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019m here at the Paris Olympics as part of my role as the head of the technical team at the<\/strong><strong> Olympic Committee.<\/strong> I arrived here with my group on 18 July and we\u2019ve been working on a number of things, including the logistics of arrivals and departures for the 148 Egyptian competitors that qualified for the games. I\u2019ve since been doing a lot of work related to logistics, sorting out training locations for players and following up with both the players and the organizing committee. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My morning routine here at the Olympics is quite different from my normal one back at<\/strong><strong> home. <\/strong>I usually start my day at 7:30am with the Chef de Mission meeting, where all the countries have a recap on all the issues they\u2019ve faced so far. We also have the logistics plan of who\u2019s arriving on a given day, and who\u2019s leaving. That also gets sorted out in the morning. That was a constant thing I had to handle everyday until about two days ago. I\u2019m also trying to go to the gym three times a week while I\u2019m here.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s very difficult to keep a routine here.<\/strong> You\u2019re working seven days a week, sleeping at 1:30am everyday \u2014 it\u2019s kind of hectic. Now things are a bit more stable, so I have a bit more of a chance to enjoy going to the different games. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Team Egypt is performing in line with expectations so far.<\/strong> We\u2019ve won one medal so far in fencing, which we expected to win, but we also lost a medal in shooting that we had been expecting to secure. The football team is doing much better than expected and that is a sport that has a lot of followers. I think we\u2019re doing quite well. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There tends to be a lot of criticism directed towards athletes during these competitions,<\/strong> but it\u2019s important to remember that everyone here is among maybe the top 50 in the world at what they do. They all earned their right to be here. In my view, even if you\u2019re last in the Olympics, you\u2019re still an olympian \u2014 and that\u2019s a great honor. Whenever I hear people criticize athletes who maybe haven\u2019t been doing too well, I ask them, where do you rank in your own profession on a global scale? If you're in the top 50, then maybe you have the right to criticize. Otherwise, you don\u2019t. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I think people will be pleasantly surprised.<\/strong> Most of the medals we expect to win are in the games that are taking place closer to the end. We\u2019re expecting medals in taekwondo, modern pentathlon, weightlifting, and wrestling. It would be great to achieve a medal in football as well.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The medal in fencing and our football team\u2019s victory over Paraguay to reach the<\/strong><strong> semifinals were probably the most exciting moments for me so far.<\/strong> But generally speaking, since this is my first time attending the Olympics, just walking around in the Olympic village with over 10k athletes \u2014 the best of the best \u2014 and just walking together, dining together, that\u2019s a dream for anyone who does sports. The feeling is phenomenal, and it\u2019s a real sporting spectacle.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It took a while, but I\u2019m now able to enjoy the games as a spectator.<\/strong> The first few days were the most hectic, but since things have stabilized a little, I\u2019ve been trying to enjoy the games a bit more, obviously prioritizing following our Egyptian players. It\u2019s been a lot of fun. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Back in Cairo, I\u2019m a pretty early riser.<\/strong> I wake up around 6:30am, I have my coffee, then get my news before heading to the office at around 8 or 9am. I work until around 5 or 6pm, mostly doing calls and team meetings. I also do a lot of client meetings \u2014 something I really enjoy. I like staying connected with all of our key clients. It takes up about 25-30% of my time. After that, I\u2019ll usually either get some exercise in or I\u2019ll have more meetings with either the federation or the Olympic Committee. I\u2019m not an exercise in the morning kind of guy, so I\u2019ll often try to do that before I get home.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>At Lyve, we aim to completely automate the interface between residents and<\/strong><strong> management in gated communities.<\/strong> I used to be a treasurer for homeowner associations, and I used to have problems reaching out to management and getting things done. That\u2019s how it all started. We closed our first agreement with Palm Hills back in 2016, we launched in the summer of 2017 in Hacienda Bay and Hacienda White, and we became pioneers in the field. We closed our first pre-series A funding round with Algebra Ventures in 2018, and we\u2019ve since become a fast growing, profitable business. We\u2019ve helped residents request services, file complaints, and generally have easier access to management. We were also among the pioneers of using QR codes \u2014 we issued over 1 mn QR codes last summer alone. We have over 180k users, 150k of which are registered units. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re looking to expand into new markets in the coming period<\/strong>, with markets in the Gulf and Africa being our intended destinations. We have plenty of discussions in progress, and we\u2019ll hopefully close the agreement by the end of the summer. We\u2019re in late discussions with big developers in Saudi Arabia and the UAE at the moment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In real estate, I think the most surprising thing has been that most real estate firms have<\/strong><strong> really basic IT capabilities.<\/strong> What we\u2019re seeing over the last three years is that these firms are starting to really grow their tech infrastructure, which has been a big help to us in terms of integration. The app has also been helpful to our clients in that regard, especially in aiding the payment process. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve also seen a trend in people moving away from large homes in favor of buying<\/strong><strong> smaller apartments or renting.<\/strong> I don\u2019t subscribe to the idea of a looming real estate bubble that\u2019ll burst anytime soon. People are just favoring smaller, more affordable units \u2014 but the demand is definitely still bigger than the supply, and that will continue to be the case.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The one constant for me is to constantly be thinking about growth.<\/strong> I\u2019m always thinking about what\u2019s next, and how to move forward. For the company, I\u2019m thinking about how to take Lyve to the next level, and what needs improvement. But even in sports \u2014 what value are you adding everyday? In sports, at work, even at home. That\u2019s the question I\u2019m always asking myself.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I would say I\u2019m something of a workaholic.<\/strong> Back when I was based in Turkey, I had a manager who used to lecture me about having to slow down and find some balance, but I find it really difficult. I\u2019m definitely not a good example of work-life balance, but it\u2019s something I definitely do need to work on. The situation in the Olympics obviously exacerbated that. I can\u2019t wait to go back to Egypt and get back into my normal routine. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019m not super organized either. <\/strong>However, I\u2019m extremely disciplined with time. I get really frustrated when people aren\u2019t on time for things. My discipline is what helps me get my day organized. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019m a big enjoyer of business books.<\/strong> I\u2019d recommend one called <a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/book\/show\/10127019-the-lean-startup\" style=\"\" rel=\"noopener\">The Lean Startup<\/a> \u2014 which is a bit of a cliche recommendation, but it\u2019s quite great \u2014 and <a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/book\/show\/39101777-surrounded-by-idiots\" style=\"\" rel=\"noopener\">Surrounded by Idiots<\/a>, which gave me great insight on people\u2019s differences and how different people need to adapt to each other. Those are the two most interesting ones I\u2019ve read recently.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lyve\/\">Lyve<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/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=\"638108\" 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\/08\/08\/638108\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-638108\" class=\"content-area-description single-story post-638108 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;\">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>24 September (Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/finance2024.enterprise.news\/\" style=\"\">Enterprise Finance 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>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>25-28 September (Wednesday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cityscapeegypt.com\/en\/home.html\" style=\"\">Cityscape Egypt<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibition Center, Cairo.<\/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>1-3 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/csew.net\/\" style=\"\">Cairo Sustainable Energy Week<\/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;\">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>12-15 November (Tuesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0m61FMcuP2Qn6d36We1ozK1CgZEF6KGqaen15UMX7EkfRovB1cuxZ1gFtbqZNFvQ5l\" style=\"\">Arab African Investment and International Cooperation Summit<\/a><\/span><span style=\"font-weight:400;\">, Aswan, 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>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 style=\"font-weight:400;\">September 2024: Turkish-Egyptian Business Council meeting in Turkey.<\/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;\">September 2024: US-Egypt Strategic Dialogue, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>November 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LLPJRjsu6SZLwtRHuLmCQxoAZB3xaXVXH8aYkMSEH3ae4aW6JCZaPe5h5u9nKmcRl\" style=\"\">Egypt to host<\/a><\/span><span style=\"font-weight:400;\"> the World Urban Forum (WUF12).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2024: The launch of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sis.gov.eg\/Story\/192175\/Trial-Operation-of-the-Sokhna-El-Alamein-Matrouh-High-Speed-Train-Starts-by-the-End-of-this-Year?lang=en-us\" style=\"\">high-speed train<\/a><\/span><span style=\"font-weight:400;\"> line linking Ain Sokhna with Al Alamein City. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2024: Shalateen Mining Company to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/74373364-7f95-4157-9090-67ee1584c341\/nuca-to-hand-out-plots-to-four-industrial-developers-within-days.-plus:-news-from-bluev,-tmg,-and-tabreed\" style=\"\">launch a gold exploration tender<\/a><\/span><span style=\"font-weight:400;\"> in the Eastern Desert.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">July 2025: The first operational trail of Egypt-KSA electricity interconnection line.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2Q 2025: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad18b775-3e22-4e6b-b4fc-9dd30f4b85ad\/abu-dhabi-ports-to-build-and-run%253cmark%253e-safaga-terminal%253c%2Fmark%253e,-cruise-ship-infrastructure\" style=\"\">Safaga Terminal 2<\/a><\/span><span> to start operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20 January-7 February: Egypt to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f9a5a94-cc1c-4fc1-b8c6-7c02d15cae3b\/ramadan-kareem\" style=\"\">host the African Games<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2027: Trial operations at the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52aa0e65-5b6f-4c84-aa49-70ac4152bb87\" style=\"\">Dabaa nuclear power plant<\/a><\/span><span style=\"font-weight:400;\"> expected to take place.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Remittances rise | Growth targets | Financing for Sokhna terminal | Egypt v. Morocco.<\/p>\n","protected":false},"featured_media":638087,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-638086","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"5b726ae6-c943-4dab-8f84-2c766bfcc6f9","teaser":"Remittances rise | Growth targets | Financing for Sokhna terminal | Egypt v. Morocco.","photo_url":"https:\/\/ent.news\/2024\/8\/680.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>Egypt is one of the top African investment destinations - 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\/egypt-is-one-of-the-top-african-investment-destinations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt is one of the top African investment destinations\" \/>\n<meta property=\"og:description\" content=\"Remittances rise | Growth targets | Financing for Sokhna terminal | Egypt v. 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