{"id":639579,"date":"2024-08-12T00:00:00","date_gmt":"2024-08-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=639579"},"modified":"2025-12-17T16:41:18","modified_gmt":"2025-12-17T16:41:18","slug":"egx-rebounds-recouping-last-weeks-losses","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egx-rebounds-recouping-last-weeks-losses\/","title":{"rendered":"EGX rebounds, recouping last week\u2019s losses"},"content":{"rendered":"<section id=\"639581\" 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=\"639581\">\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\/12\/egx30-recoups-last-weeks-losses\/\">\r\n                            Egypt\u2019s benchmark EGX30 recoups last week\u2019s losses                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/12\/egx30-recoups-last-weeks-losses\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" 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data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"400.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/400.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/400.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-639581\" class=\"content-area-description single-story post-639581 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-egx tag-enterpriseam tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.dc76a2b4-8c17-4d11-bcb8-5ebe5344fc3b.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>After a particularly busy start to the week, we have a brisk issue for you this morning. <\/p><p class=\"tag-border-left\">WATCH THIS SPACE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- Could we finally see Giza Spinning &amp; Weaving make its long-awaited EGX <\/strong><strong>debut? <\/strong><a target=\"_blank\" href=\"https:\/\/www.gizaspin.com\/\" style=\"\" rel=\"noopener\">Giza Spinning &amp; Weaving<\/a> plans to list 25-40% of its shares on the EGX before the end of the year, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/08\/11\/1816613\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing sources it says have knowledge of the matter. The company is set to file a listing request with the bourse before the end of the month. The company has reportedly tapped Beltone Holding as its financial advisor and transaction manager and Matouk Bassiouny &amp; Hennawy as legal counsel.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gulf money on the cards?<\/strong> Beltone Holding will reportedly hold roadshows in the Gulf and other foreign markets to promote the offering after it hits the EGX.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s been a long time coming: <\/strong>The company had <a target=\"_blank\" href=\"https:\/\/enterprise.press\/stories\/2018\/08\/05\/giza-spinning-and-weaving-to-float-up-to-40-of-shares-in-november-ipo\/\" style=\"\" rel=\"noopener\">initially planned<\/a> to float as much as 40% of its shares on the EGX in an IPO in November 2018 before plans got pushed back to <a target=\"_blank\" href=\"https:\/\/enterprise.press\/stories\/2019\/03\/31\/giza-spinning-weaving-pushes-ipo-to-3q2019\/\" style=\"\" rel=\"noopener\">3Q 2019<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1b5dfc0b-af83-4357-8af8-191164d061da\/\" style=\"\" rel=\"noopener\">2020<\/a> due to poor market conditions, then again to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9c435cb8-7152-45f3-87fb-8bf3e9835d2a\/\" style=\"\" rel=\"noopener\">2022<\/a> in the wake of covid-induced market turmoil.<\/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- Shutting down industrial factories now requires El Wazir\u2019s approval: <\/strong>President Abdel Fattah El Sisi issued a directive forbidding the closure of any industrial facility without the greenlight from Transport and Industry Minister Kamel El Wazir, according to a ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02TaFYJGCvpM3XFh9hrA1xbpkZvm77YWPRXxymJrq89X8sKpv3VdKvAYe7dWV3CZ7Gl\" style=\"\" rel=\"noopener\">statement<\/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\"><a id=\"wwtt2\"><\/a> <strong>#3- FRA extends SIC\u2019s MTO deadline for CIRA: <\/strong>The Financial Regulatory Authority (FRA) granted Social Impact Capital (SIC) a 60-day extension on its mandatory tender offer (MTO) for up to 100% of CIRA Education, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/876.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from the authority. The MTO period \u2014 which expired yesterday \u2014 is getting a 60-working-day extension as of Sunday, 11 August.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The Saudi Egyptian Investment Company \u2014 a wholly-owned subsidiary of the Public Investment Fund \u2014 said <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a82c702-10eb-4631-b5ba-77ad9f1a1781\" style=\"\" rel=\"noopener\">in May<\/a> that it will buy into SIC, the vehicle through which the founding El Kalla family holds a controlling stake in EGX-listed CIRA Education. SIC used the cash injection to launch a mandatory tender offer to buy CIRA shares at a price of EGP 14 each to up its stake in the company to 75-100%.<\/p><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>#4- Africa\u2019s first carbon market is ready for liftoff:<\/strong> The FRA has wrapped up all the necessary requirements and procedures to register carbon emissions-reducing projects and kick start Africa\u2019s first regulated carbon market, allowing companies to issue and trade voluntary carbon certificates in Egypt and Africa, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/897.pdf\" style=\"\" rel=\"noopener\">FRA statement (pdf)<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong>The FRA rolled out the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c1c69c8e-5980-4932-a4e2-c029065ec29a\/%253cmark%253efra%253c%2Fmark%253e-unveils-the-requirements-for-carbon-trading\" style=\"\" rel=\"noopener\">requirements<\/a> for carbon trading last month in preparation for the market\u2019s launch. We took a deep dive into what we can expect for the market in the coming period in a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0957f2c1-9347-4585-a177-3339bfcc352a\/steps-toward-launching-africa%25e2%2580%2599s-first-voluntary-carbon-market-are-gaining-traction\" style=\"\" rel=\"noopener\">Going Green<\/a> published earlier this month. <\/p><p class=\"tag-border-left\">EGX WATCH-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt3\"><\/a> <strong>EGX rallies following global market meltdown:<\/strong> The <a target=\"_blank\" href=\"https:\/\/www.egx.com.eg\/en\/Indices.aspx\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.egx.com.eg\/en\/Indices.aspx\" style=\"\" rel=\"noopener\">benchmark EGX30 index<\/a> climbed 2.7% yesterday to close at 29.5k, recouping losses incurred last week amid the recent <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9a7a23c7-3658-4a49-8278-36e297c2b83d\/global-markets-meltdown-hit-home-%25e2%2580%2594-the-egp-hit-six-month-lows\" style=\"\" rel=\"noopener\">global market meltdown<\/a>. Market cap hit EGP 1.4 tn at yesterday\u2019s close, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/915.jpg\" style=\"\" rel=\"noopener\">market data<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>The EGX30 dropped a total of 5.2% early last week while the EGP fell to its lowest level against the greenback in nearly six months on the back of rising geopolitical risk across the region and a global equity sell-off triggered by fears of a US recession.<\/p><p class=\"tag-border-left\">FACT CHECK-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Elsewedy Electric is not leaving the EGX anytime soon:<\/strong> Elsewedy Electric denied rumors that the company has plans to delist its shares from the bourse, the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/877.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong>Last month, Abu Dhabi-based Electra Investment Holding <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fdb9c3e1-c997-41a9-a841-5e452e086f3d\/a-new-sokhna-terminal-is-underway.-plus:-news-from-uae%25e2%2580%2599s-hala,-elsewedy-electric,-amea-power,-egyptair\" style=\"\" rel=\"noopener\">acquired 20%<\/a> of Elsewedy Electric in a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5b99033a-6043-45a7-aa07-f8a09c388613\/uae%25e2%2580%2599s-electra-snaps-up-20%2525-of%253cmark%253e-elsewedy%253c%2Fmark%253e-electric-for-usd-450-mn\" style=\"\" rel=\"noopener\">USD 449.1 mn transaction<\/a>. <\/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\"><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 32\u00b0C and a low of 24\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing, we looked at how the industrial sector is coping with rising production costs. Check out the story <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/93160d2e-ce04-4bab-bc82-b14c9863975b\/\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p class=\"tag-border-left\">HAPPENING TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt4\"><\/a> <strong>The CBE is holding its first EUR-denominated t-bill auction since November: <\/strong>The Central Bank of Egypt is looking to raise some EUR 600 mn from auctioning off one-year, EUR-denominated treasury bills, according to the CBE website. The submission deadline for the auction is today at 11am.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So, why now? <\/strong>The central bank is likely looking to raise EUR funds to pay off maturing debt, EGBank board member Mohamed Abdel Aal previously <a target=\"_blank\" rel=\"noopener\">told Enterprise<\/a>. \u201cFX can help bridge any existing and expected cash gap,\u201d he added.<\/p><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/500.co\/accelerators\/500-egypt\" style=\"\" rel=\"noopener\">500 Global's Seed Bootcamp<\/a><\/strong><strong> returns to Egypt:<\/strong> The 500 Global Seed Bootcamp is accepting applications for early-stage startups to join its 2024 edition in Cairo from 28 September to 2 October. Applications are being reviewed on a first-come, first-served basis, and the window to <a target=\"_blank\" href=\"https:\/\/account.500.co\/login?state=hKFo2SBPLW1aMVpvV0Y2NFlKX3hRdmJ1Y2RoQngwd1B1VjlucKFupWxvZ2luo3RpZNkgTlhEdDUxa2EzS3lwYnJuMDJxWUNReS1OQTcxVllHcDOjY2lk2SBqc2tpSkYxZEpPTlJDdUd6NGlFMGRmNzNUV0VwTlNQNA&amp;client=jskiJF1dJONRCuGz4iE0df73TWEpNSP4&amp;protocol=oauth2&amp;scope=openid%20profile%20email&amp;response_type=code&amp;redirect_uri=https%3A%2F%2Fegypt-seed-b4.aplica.500.co%2Fapi%2Fauth%2Fcallback&amp;nonce=AtgYUKCbRbRkfusAgt7OxnGAhqzzVMTKT61lMyjW42E&amp;code_challenge_method=S256&amp;code_challenge=lPQpwlrjiWmOEQuTLv-p1Gc4bRazglAm6VoZhWbgJJQ\" style=\"\" rel=\"noopener\">apply<\/a> closes Thursday, 15 August. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the bootcamp: <\/strong>The 5-day program is offered in partnership with ITIDA and brings together global mentors across various areas of expertise, offering hands-on workshops and one-on-one mentoring sessions to help pre-seed and seed-stage startups gain deeper insights and develop effective action plans. For more information, check out the organization\u2019s <a target=\"_blank\" href=\"https:\/\/events.500.co\/egyptalumniroundtable\/Website?_gl=1*175z3o0*_ga*NzA4MTgxNTQ1LjE3MjMzODQyNzM.*_ga_C0SJJ7MZW7*MTcyMzM4NDI3Mi4xLjAuMTcyMzM4NDI3Mi42MC4wLjA.\" style=\"\" rel=\"noopener\">webinar<\/a> featuring alumni of the program.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Cairo and Tokyo to cozy up this month:<\/strong> Egypt and Japan plan to organize a high-level policy dialogue at the end of August to discuss development and cooperation, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MPEDEGYPT\/posts\/pfbid0XQVhD9dZKPoZgxmnyWx29XabSZuSoTiUPxREzwh4HSGyrPXSV5eGv5iUi7cEQZUDl?locale=ps_AF\" style=\"\" rel=\"noopener\">statement<\/a> by the Planning and Economic Development Ministry.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The international business press is having another slow morning<\/strong> without one unifying story taking the lead. A few of the stories getting top billing this morning: <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>From the campaign trail:<\/strong> Kamala Harris is more trusted among American voters to handle the country\u2019s economy than Donald Trump, coming in one percentage point above the former US president in a recent survey, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/cf9a7c4d-3b82-4867-892c-f4f95daebbc7\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. Although Harris\u2019 edge over Trump is narrow, the current vice president polled seven percentage points higher than US President Joe Biden\u2019s performance in US voter sentiment. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel is doubling down on its defenses and shoring up resources such as alternative <\/strong><strong>fuel supplies as it expects a retaliatory attack from Iran<\/strong> could be imminent. Iran has vowed to respond to Israel for the assassination of Hamas political leader Ismail Haniyeh in Tehran last month. Meanwhile, Israel is also ordering more displaced Palestinians in Khan Younis to evacuate the area, which it declared a \u201cdangerous combat zone.\u201d (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-08-11\/israel-bolsters-infrastructure-defense-amid-iranian-attack-risks\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-orders-more-gaza-evacuations-after-school-shelter-attack-kills-scores-2024-08-11\/\" style=\"\" rel=\"noopener\">Reuters<\/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>The 2024 Paris Olympics closing ceremony wrapped overnight at Stade de France,<\/strong> marking the end of the summer games after two and a half weeks of action. The end of the Games earned plenty of attention (<a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/08\/11\/paris-closing-ceremony-los-angeles.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/sport\/olympics\/live\/c1m0rx78xn9t\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/sport\/live\/2024\/aug\/11\/paris-2024-olympics-closing-ceremony-updates-from-star-studded-finale-live\" style=\"\" rel=\"noopener\">The Guardian<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ceremony featured performances <\/strong>by French band Phoenix, an iconic jump of Tom Cruise from the roof of the stadium, H.E.R., Red Hot Chilli Peppers, Billie Eilish, Snoop Dogg, and Dr Dre.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While Team USA tied with China for gold medals, USA topped the charts for overall <\/strong><strong>medal count<\/strong> as they gear up to host the next 2028 summer games in Los Angeles. The US team is going home with a total of 125 medals, leaving one behind after gymnast Jordan Chiles was stripped of her bronze medal from last week\u2019s floor final after the International Olympic Committee (IOC) ruled against her in a score dispute. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not leaving the city of love just yet:<\/strong> As the Olympics wind down, the Paralympics are gearing up to kick off. Taking place in Paris as well, the Paralympics will start on Wednesday, 28 August and continue for 11 days.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New games, new boss: <\/strong>Thomas Bach\u2019s 12-year stint as IOC president is coming to an end, as per IOC governance rules limiting each person\u2019s term to 12 years, <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/2024-paris-olympics-ioc-bach-president-5e6bcb774f7bd17e17f84ba4238fa7e8\" style=\"\" rel=\"noopener\">AP<\/a> reports. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The medal table:<\/strong><\/p><ul>\n<li><strong>USA <\/strong>(40 gold,125 overall)<\/li>\n<li><strong>China <\/strong>(40 gold, 91 overall)<\/li>\n<li><strong>Japan <\/strong>(20 gold, 45 overall)<\/li>\n<li><strong>Australia <\/strong>(18 gold, 53 overall)<\/li>\n<li><strong>France <\/strong>(16 gold, 64 overall)<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>THE EGYPT ANGLE- <\/strong>Egypt\u2019s largest-ever Olympic <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9fed306a-c343-4b65-89ea-8009bb653841\/\" style=\"\" rel=\"noopener\">delegation<\/a>, a 164-strong team competing in 22 sports, delivered some outstanding feats and a few flops at the 2024 Games. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The<\/strong><strong> highs<\/strong><strong>: <\/strong>The Summer Games saw team Egypt clinch a total of three medals after Ahmed El Gendy <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/9172454d-a9e7-4723-b6aa-edb4d278ec02\/\" style=\"\" rel=\"noopener\">took home gold<\/a> in modern pentathlon, weightlifter Sara Samir snagged silver in the women's 81kg, and fencer Mohamed El Sayed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e27ed67-0e5a-45d0-b840-eb5f360b9301\/\" style=\"\" rel=\"noopener\">picked up bronze<\/a> in the men's \u00e9p\u00e9e individual.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And the <\/strong><strong>lows<\/strong><strong>: <\/strong>Our handball team <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ca8aef6e-a57b-45b7-b76d-d0df966264d1\" style=\"\" rel=\"noopener\">lost<\/a> 29-28 to Spain at the quarterfinals, while the football team lost 6-0 to Morocco in the bronze medal match after reaching the semifinals for the first time since 1964.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- We\u2019re taking a shot at hosting the 2036 or 2040 Olympics:<\/strong> Egypt will bid to host the 2036 and 2040 Summer Olympics as its improved infrastructure and sports facilities strengthen its chances, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/olympics\/egypt-will-bid-2036-2040-olympics-african-olympic-committees-chief-says-2024-08-11\/\" style=\"\" rel=\"noopener\">Reuters<\/a> quotes Head of the Association of National Olympic Committees of Africa Association (ANOCA) Mustapha Berraf as saying at the Paris Games closing ceremony yesterday. A successful bid would be the first for Africa, which has never hosted the Games. Egypt last made an unsuccessful bid for the 2008 Olympics.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s been a long time coming: <\/strong>Cairo expressed its interest in hosting the 2036 Summer Olympics at the Egypt International Olympic City in the new capital back in <a target=\"_blank\" href=\"https:\/\/www.dw.com\/en\/olympics-2036-egypt-looking-to-reach-top-of-international-sports-pyramid\/a-60450345\" style=\"\" rel=\"noopener\">2022<\/a>. The venue will house a 93.9k-seat national stadium alongside 21 other sports facilities. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Dive deeper: <\/strong>We took a look at how the Madbouly government is looking to the private sector to develop our sports infrastructure ahead of our planned Olympics bid in a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b779ae3d-37b2-4b85-a53a-3ea973ee9ad2\/gov%25e2%2580%2599t-looks-to-private-sector-for-infrastructure-ahead-of-planned-olympics-bid\" style=\"\" rel=\"noopener\">Hardhat<\/a> last year.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Till next time:<\/strong> The International Olympic Committee has chosen five cities to stage the upcoming Games. These include Italy\u2019s Milan and Cortina d'Ampezzo for the <a target=\"_blank\" href=\"https:\/\/www.milanocortina2026.org\/en\/\" style=\"\" rel=\"noopener\">2026 Winter Games<\/a>, Los Angeles for the <a target=\"_blank\" href=\"https:\/\/la28.org\/\" style=\"\" rel=\"noopener\">2028 Summer Games<\/a>, and Australia's Brisbane for the <a target=\"_blank\" href=\"https:\/\/olympics.com\/en\/brisbane-2032\" style=\"\" rel=\"noopener\">2032 Summer Olympics<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2495.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue:<\/strong> We look at what lower expected public school enrollment means for Egypt\u2019s education spending. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"639583 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=\"639583\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/12\/639583\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-639583\" class=\"content-area-description single-story post-639583 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.somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/794.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Dive into the enchantment of Somabay's underwater world.<\/span><span> Encounter playful dolphins and captivating coral reefs, where each plunge unveils a new marvel. #SummerStoriesBegin #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=\"639584\" 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=\"639584\">\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\/12\/oil-ministry-is-setting-up-a-usd-600-mn-gas-treatment-facility\/\">\r\n                            Egypt is setting up a USD 600 mn gas treatment facility                        <\/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\/12\/oil-ministry-is-setting-up-a-usd-600-mn-gas-treatment-facility\/\" target=\"_blank\">\n         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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/903.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"639585\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/12\/oil-ministry-is-setting-up-a-usd-600-mn-gas-treatment-facility\/903-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/903.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"903.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/903.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/903.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-639584\" class=\"content-area-description single-story post-639584 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-agiba-petroleum tag-egyptian-general-petroleum-corporation tag-energy tag-eni tag-enterpriseam tag-oil-and-gas tag-oil-ministry 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\/.554f4700-a0aa-415a-b6d4-175e218f2dbe.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A new USD 600 mn gas treatment facility in the works:<\/strong> The Oil Ministry has a USD 600 mn natural gas treatment plant in the pipeline, with plans to have it running by mid-2025, a government source told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/08\/08\/-%D8%A7%D9%84%D8%A8%D8%AA%D8%B1%D9%88%D9%84-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D9%86%D9%81%D8%B0-%D9%85%D8%AD%D8%B7%D8%A9-%D9%84%D9%85%D8%B9%D8%A7%D9%84%D8%AC%D8%A9-%D8%A7%D9%84%D8%BA%D8%A7%D8%B2-%D9%81%D9%8A-%D8%A7%D9%84%D8%B5%D8%AD%D8%B1%D8%A7%D8%A1-%D8%A7%D9%84%D8%BA%D8%B1%D8%A8%D9%8A%D8%A9-%D8%A8%D9%80600-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The plant is located in the Western Desert\u2019s Meleiha concession, which is operated by <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/agiba-petroleum-co.\/about\/\" style=\"\" rel=\"noopener\">Agiba<\/a> \u2014 a JV between energy giant Eni subsidiary IEOC and the Egyptian General Petroleum Corporation (EGPC). The facility\u2019s production will feed into the national grid.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s developing the facility?<\/strong> State-owned oil and gas contractor Petrojet is acting as the project\u2019s main contractor, working together with global oilfield services giant Schlumberger on engineering, design, and procurement for the treatment plant.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Timeline:<\/strong> The source said construction on the project should wrap up in 1Q 2025 and will be followed by a pilot run. If all goes well, the facility is expected to be fully operational by mid-2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Western Desert already houses some older gas treatment facilities<\/strong> built in recent years to receive gas extracted from concession fields in the area, according to the source. The new plant will add to this existing capacity, and is designed to accommodate additional gas volumes in the coming years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Agiba has big targets for this FY: <\/strong>The joint venture <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/story.php\/?story_fbid=895953795908375&id=100064812882317\" style=\"\" rel=\"noopener\">plans to invest<\/a> about USD 500 mn this fiscal year, with a plan to up its daily production capacity to 30k barrels of crude oil and 119 mn cf of gas.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Part of a bigger plan: <\/strong>The Oil Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0KLYxHKE9VdHraUMXrU6adxf6zyFbwh3WcirBEK3yR1Vd7QG7hJbCrX9zVFkgVasfl\" style=\"\" rel=\"noopener\">is looking to drill 110 exploratory wells<\/a> with total investments of USD 1.2 bn in the current fiscal year, as part of a broader push to drill 586 exploratory wells with investments of USD 7.2 bn by 2030. <\/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\/agiba-petroleum\/\">Agiba Petroleum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-general-petroleum-corporation\/\">Egyptian General Petroleum Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eni\/\">Eni<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-ministry\/\">Oil Ministry<\/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=\"639586 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=\"639586\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/12\/639586\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-639586\" class=\"content-area-description single-story post-639586 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.global\/en\/locations\/Egypt\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/674.png?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"639587\" 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=\"639587\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/12\/raya-cx-triples-its-income-y-o-y-in-1h-2024\/\">\r\n                            Raya Customer Experience triples its income y-o-y in 1H 2024                        <\/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 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/08\/12\/raya-cx-triples-its-income-y-o-y-in-1h-2024\/&title=Raya CX triples its income y-o-y in 1H 2024\">\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=Raya+CX+triples+its+income+y-o-y+in+1H+2024+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F08%2F12%2Fraya-cx-triples-its-income-y-o-y-in-1h-2024%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\/12\/raya-cx-triples-its-income-y-o-y-in-1h-2024\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/907.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"639588\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/12\/raya-cx-triples-its-income-y-o-y-in-1h-2024\/907-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/907.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"907.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/907.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/907.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-639587\" class=\"content-area-description single-story post-639587 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-enterpriseam tag-raya-cx tag-raya-holding 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\/.d1f7f642-59b6-406b-bdb2-e140444b4860.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Raya CX triples its net income in 1H 2024:<\/strong> Raya Customer Experience (Raya CX) saw its net income triple to reach EGP 245.3 mn in 1H 2024, rising 199.9% y-o-y, the company said in its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/868.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The company\u2019s top line also climbed 38.5% y-o-y to record EGP 1.3 bn during the same period.<\/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>Driving the growth:<\/strong> The company\u2019s business process outsourcing was the primary contributor to growth once again, accounting for EGP 707.4 mn, or 56.1% of total revenues for the first half of the year. The company\u2019s hosting business recorded EGP 354.5 mn (28.1% of total revenue), while its insourcing business recorded EGP 199.6 mn (15.8%), according to the release. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FX revenue streams paid off once again:<\/strong> Offshore revenues denominated in USD recorded the equivalent of EGP 956.7 mn, accounting for 75.8% of the company\u2019s total revenue \u2014 up from 53.7% in the same period last year. The FX streams enabled the company to \u201cabsorb fluctuations in foreign exchange rates,\u201d according to the release. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>\u201cRegionally, we are continuously strengthening our foothold in the GCC, and expect to add more delivery facilities in the Kingdom of Saudi Arabia, and fully utilize our facility in mainland Dubai, UAE. Our operations in Europe are also under strategic review to identify growth opportunities, with Europe representing a market of immense potential,\u201d CEO Alaa El Khishen.<\/p>\n<p class=\"tag-border-left\">ADIB DOUBLES NET INCOME IN 2Q- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi Islamic Bank (ADIB) Egypt nearly doubled its net income in 2Q 2024<\/strong> to EGP 2.5 bn \u2014 an increase of 94.7% y-o-y \u2014 the company said in its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/885.pdf\" style=\"\" rel=\"noopener\">financial statement (pdf)<\/a>. The bank\u2019s returns from Murabaha, Musharaka, and similar financing came in at EGP 8.8 bn, up from EGP 4.5 bn during the same period last year. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya-cx\/\">Raya CX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya-holding\/\">Raya Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"639589 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"639589\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/12\/639589\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-639589\" class=\"content-area-description single-story post-639589 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicContactUs\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1877.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"639590\" 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=\"639590\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/12\/more-on-our-olympic-victories\/\">\r\n                            More on Egypt\u2019s Olympic victories                        <\/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\/12\/more-on-our-olympic-victories\/\" 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\/12\/more-on-our-olympic-victories\/')\">\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\/12\/more-on-our-olympic-victories\/\">\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=More on our Olympic victories&url=https:\/\/enterpriseam.com\/egypt\/2024\/08\/12\/more-on-our-olympic-victories\/\">\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\/12\/more-on-our-olympic-victories\/&title=More on our Olympic victories\">\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=More+on+our+Olympic+victories+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F08%2F12%2Fmore-on-our-olympic-victories%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\/12\/more-on-our-olympic-victories\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/932.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"639591\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/12\/more-on-our-olympic-victories\/932-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/932.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"932.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/932.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/932.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-639590\" class=\"content-area-description single-story post-639590 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-last-nights-talk-shows tag-sports wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.0045866c-e6fd-4912-8416-01ed977f49da.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It was day two of Olympic festivities on the airwaves:<\/strong> Last night\u2019s talk shows honed in on the victories of modern pentathlon athlete Ahmed El Gendy, weightlifter Sara Samir, and fencer Mohamed El Sayed at the Paris 2024 Games for a second night in a row. The medalists \u2014 who clinched gold, silver, and bronze at the Games \u2014 received attention from El Hekaya (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1205529764202354&_rdc=1&_rdr\" style=\"\" rel=\"noopener\">watch, runtime: 1:46<\/a>), Ala Mas\u2019ouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=qXvUQzbdN5M\" style=\"\" rel=\"noopener\">watch, runtime: 11:49<\/a> | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=BN_QA4nGrsI\" style=\"\" rel=\"noopener\">9:56<\/a>), Salet El Tahrir (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=UPffVSbqAwk\" style=\"\" rel=\"noopener\">watch, runtime: 4:09<\/a>), and El Sa\u2019a El Sadesa (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=XTfCLddF2WI\" style=\"\" rel=\"noopener\">watch, runtime: 5:07<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"639592\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/12\/polaris-parks-is-set-to-invest-egp-5-bn-in-new-industrial-complexes-plus-news-from-saudi-drilling-exploration-jade-textile-eehc\/\">\r\n                            Polaris Parks is set to invest EGP 5 bn in new industrial complexes                        <\/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\/12\/polaris-parks-is-set-to-invest-egp-5-bn-in-new-industrial-complexes-plus-news-from-saudi-drilling-exploration-jade-textile-eehc\/\" target=\"_blank\">\n                    Open in new tab      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data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/924.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/924.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-639593\" class=\"content-area-description single-story post-639593 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-banking tag-central-bank-of-egypt tag-enterpriseam tag-gold tag-industry tag-mining tag-polaris-parks tag-real-estate tag-renewables tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.6f115c76-9f3f-4b73-8f5e-8d62abe01b99.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">INDUSTRY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Polaris Parks wants to set up new industrial complexes:<\/strong> Industrial real estate developer Polaris Parks has plans to invest EGP 5 bn in the local market to set up five industrial complexes in Obour, Tenth of Ramadan, Badr City, New Cairo, and Sadat City, General Manager Bassel Shoirah told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a8%d9%88%d9%84%d8%a7%d8%b1%d9%8a%d8%b3-%d8%aa%d8%aa%d9%81%d8%a7%d9%88%d8%b6-%d9%85%d8%b9-%d8%a7%d9%84%d8%b5%d9%86%d8%a7%d8%b9%d8%a9-%d8%b9%d9%84%d9%89-%d8%a3%d8%b1%d8%a7\/\" style=\"\" rel=\"noopener\">Al<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a8%d9%88%d9%84%d8%a7%d8%b1%d9%8a%d8%b3-%d8%aa%d8%aa%d9%81%d8%a7%d9%88%d8%b6-%d9%85%d8%b9-%d8%a7%d9%84%d8%b5%d9%86%d8%a7%d8%b9%d8%a9-%d8%b9%d9%84%d9%89-%d8%a3%d8%b1%d8%a7\/\" style=\"\" rel=\"noopener\">Mal<\/a>. The company has sent in requests for new land plots ranging between 1-4 mn sqm to the Transport and Industry Ministry <\/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>Remember: <\/strong>Polaris was among four industrial developers that <a target=\"_blank\" 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=\"\" rel=\"noopener\">received land<\/a> for new industrial zones from the New Urban Communities Authority in New 6 October City in May.<\/p><p class=\"tag-border-left\">ENERGY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Ten<\/strong> <strong>LNG shipments and counting:<\/strong> The Oil Ministry received 10 out of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e26a169-200d-4f67-9f07-01b0a2ab2c24\/egypt-is-getting-two-more-lng-shipments-soon\" style=\"\" rel=\"noopener\">21 contracted<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e26a169-200d-4f67-9f07-01b0a2ab2c24\/egypt-is-getting-two-more-lng-shipments-soon\" style=\"\" rel=\"noopener\">liquified natural gas (LNG) shipments<\/a> as of last week, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/08\/11\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B3%D8%AA%D9%82%D8%A8%D9%84-%D8%A8%D9%8A%D9%86-3-%D9%884-%D8%B4%D8%AD%D9%86%D8%A7%D8%AA-%D8%BA%D8%A7%D8%B2-%D9%85%D8%B3%D8%A7%D9%84-%D8%AE%D9%84%D8%A7%D9%84-%D8%A3%D8%B3%D8%A8%D9%88%D8%B9%D9%8A%D9%86\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reports, citing an unnamed government official. The official also told the news outlet that the ministry is set to receive another 3-4 LNG shipments within the coming two weeks.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The government is reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad4cb2a3-8dfe-45b4-acb9-548662259bc0\/\" style=\"\" rel=\"noopener\">planning to import up to 17 shipments<\/a> of LNG in 4Q 2024 to ensure the lights stay on after an extended period of power cuts.<\/p><p class=\"tag-border-left\">MINING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Drilling &amp; Exploration could soon enter the Egyptian market: <\/strong>One of the biggest mine exploration drilling companies in Saudi Arabia <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/drillingexploration\/\" style=\"\" rel=\"noopener\">Drilling &amp; Exploration<\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/drillingexploration\/\" style=\"\" rel=\"noopener\">Company<\/a> could soon ink an agreement with an undisclosed Egyptian private sector player holding two gold exploration concessions in the Eastern Desert, the company's technical advisor Salah Bader told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%82%d8%b1%d9%8a%d8%a8%d8%a7-%d8%a7%d9%84%d8%ad%d9%81%d8%b1-%d9%88%d8%a7%d9%84%d8%a7%d8%b3%d8%aa%d9%83%d8%b4%d8%a7%d9%81-%d8%a7%d9%84%d8%b3%d8%b9%d9%88%d8%af%d9%8a%d8%a9-%d8%aa%d9%82\/\" style=\"\" rel=\"noopener\">Al Mal<\/a>. Under the pending agreement, the Saudi firm will provide drilling and prospecting services as well as geological and technical consulting. This would mark the Saudi firm's first venture into the Egyptian market.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More in the pipeline?<\/strong> The company has received several offers from entities investing in gold and mineral exploration projects locally and is currently evaluating them, Bader said. <\/p><p class=\"tag-border-left\">RENEWABLES-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- NREA allocates land for renewables plants: <\/strong>The New and Renewable Energy Authority (NREA) has allocated land plots spanning 31k km for investors looking to set up renewable energy projects, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%85%d8%b5%d8%a7%d8%af%d8%b1-%d8%ad%d9%83%d9%88%d9%85%d9%8a%d8%a9-%d8%aa%d8%ae%d8%b5%d9%8a%d8%b5-31-%d8%a3%d9%84%d9%81-%d9%83%d9%8a%d9%84%d9%88%d9%85%d8%aa%d8%b1-%d9%85%d8%b1%d8%a8%d8%b9-%d9%84\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports, citing unnamed Electricity Ministry sources. The total renewable energy expected from these projects is estimated at 113 GW \u2014 most of which will be generated from green hydrogen, namely from projects that first saw the light <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0f2251cd-82db-4ba9-9ef9-b1287b0bef1f\" style=\"\" rel=\"noopener\">during COP27 in 2022<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who and where?<\/strong> Orascom Construction, the UAE\u2019s Masdar and Al Nowais, Saudi Arabia\u2019s ACWA Power, and Norway\u2019s Scatec are all on the list of investors in line for plots. The largest portion of the land is located in Sohag and Aswan, the sources told Al Mal.<\/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- Jade Textile wants to set up USD 1.5 mn solar power station:<\/strong> Turkey\u2019s Jade Textile has contracted an unnamed Gulf-based consultant to establish a solar power station for its factory in Tenth of Ramadan, with investments of around USD 1.5 mn, Corporate Communication Country Manager Moataz Abu Baker told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/08\/10\/1816331\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The station will have a capacity of 1.6k kw\/h, providing 30% of the factory\u2019s electricity consumption. The company has inked an agreement with the Arab African International Bank that will see the bank partially finance the construction of the plant. <\/p><p class=\"tag-border-left\">BANKING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CBE reminds local banks to allow non-residing foreigners to open accounts:<\/strong> The Central Bank of Egypt (CBE) has instructed local banks to allow non-residing foreigners to open accounts, reiterating that there are no restrictions on doing so as long as normal regulations are followed. \u201cThere is nothing preventing the opening of accounts for foreign clients who are not residents of Egypt,\u201d the CBE said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/918.pdf\" style=\"\" rel=\"noopener\">circular (pdf)<\/a> last week. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context:<\/strong> The clarification follows complaints from foreign customers who were denied access to banking services, a situation the CBE warned could harm the reputation of local banks and encourage transactions outside the formal banking sector.<\/p><p class=\"tag-border-left\">REAL ESTATE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HDP launches EGP 10 bn project in West Cairo:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/hdp-egypt\/\" style=\"\" rel=\"noopener\">Housing and Development<\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/hdp-egypt\/\" style=\"\" rel=\"noopener\">Properties<\/a> (HDP) \u2014 the real estate development arm of the Housing and Development Bank \u2014 yesterday <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7228483293279600640\/\" style=\"\" rel=\"noopener\">launched<\/a> Club Hills Residence, an EGP 10 bn residential development in Sixth of October city. The project <a target=\"_blank\" href=\"https:\/\/www.dailynewsegypt.com\/2024\/08\/11\/hdp-launches-club-hills-residence-with-egp-10bn-investments\/\" style=\"\" rel=\"noopener\">offers<\/a> a range of residential units including apartments, duplexes, townhouses, and penthouses. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Four more projects in the pipeline:<\/strong> HDP is looking into setting up four real estate projects in East and West Cairo as well as the North Coast, <a target=\"_blank\" href=\"https:\/\/hapijournal.com\/2024\/08\/11\/%d8%b4%d8%b1%d9%83%d8%a9-hdp-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d9%8a%d8%a9-%d8%aa%d8%af%d8%b1%d8%b3-%d8%aa%d8%af%d8%b4%d9%8a%d9%86-4-%d9%85%d8%b4%d8%b1%d9%88%d8%b9%d8%a7%d8%aa-%d9%81%d9%8a-%d8%b4\/\" style=\"\" rel=\"noopener\">Hapi Journal<\/a> reports. <\/p><p class=\"tag-border-left\">DEBT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who provided EEHC with its EGP 51 bn financing package?<\/strong> The EGP 51 bn financing package secured by the Egyptian Electricity Holding Company (EEHC) last month to pay off its debt to the government is being supplied by five local banks \u2014 the National Bank of Egypt, Banque Misr, Banque du Caire, CIB, and the Arab African International Bank, <a target=\"_blank\" href=\"https:\/\/hapijournal.com\/2024\/08\/11\/%d8%a7%d9%84%d8%aa%d9%81%d8%a7%d8%b5%d9%8a%d9%84-%d8%a7%d9%84%d9%83%d8%a7%d9%85%d9%84%d8%a9-%d9%84%d8%ad%d8%b2%d9%85%d8%a9-%d8%aa%d9%85%d9%88%d9%8a%d9%84-%d8%a7%d9%84%d9%82%d8%a7%d8%a8%d8%b6%d8%a9\/\" style=\"\" rel=\"noopener\">Hapi Journal<\/a> reports, citing sources it says have knowledge of the matter.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The terms: <\/strong>While the package is not a joint loan, the financing terms are uniform across all five tranches \u2014 with the exception of interest rates, which go up to 0.75 percentage points above the corridor rate. The loans are guaranteed by the Finance Ministry and come with a five-year term.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The Electricity Ministry last month <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/story.php\/?story_fbid=968087628694991&amp;id=100064812882317\" style=\"\" rel=\"noopener\">said<\/a> that EEHC had secured nearly EGP 51 bn in financing to partially settle the debts of the Egyptian General Petroleum Corporation, enabling the petroleum sector to supply the necessary fuel for power stations.<\/p><p class=\"tag-border-left\">INVESTMENT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A rubber-recycling factory:<\/strong> Rubber manufacturer <a target=\"_blank\" href=\"https:\/\/hoppec.net\/en\" style=\"\" rel=\"noopener\">Hoppec<\/a> plans to set up an EGP 100 mn rubber-recycling factory in Sadat City\u2019s industrial zone, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/08\/11\/1816515\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing CEO Ehab El Saka. The recycled rubber will go into the production of automotive components. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gold\/\">gold<\/a>\n                <!-- <span 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/905.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"905.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/905.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/905.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-639595\" class=\"content-area-description single-story post-639595 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-china tag-enterpriseam tag-planet-finance tag-real-estate 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\/.05e0a6f3-fe57-4028-be00-84af40879b93.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Multinationals are increasingly concerned about the state of China\u2019s economy:<\/strong> China has not seen the economic turnaround post-Covid that many expected, with weak demand and sluggish growth pushing down consumer confidence. Amid the economic slowing, multinational companies are seeing sales decline as consumers cut back on spending and turn toward domestic brands \u2014 a trend executives believe will continue for the foreseeable future.<\/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>Sales are falling:<\/strong> According to advertising giant <a target=\"_blank\" href=\"https:\/\/www.wpp.com\/news\/2024\/08\/2024-interim-results\" style=\"\" rel=\"noopener\">WPP<\/a>, sales in the Chinese market have dropped nearly one-quarter in the last three months, reflecting the contraction of consumer appetite amid a sluggish economy. Foreign carmakers in particular <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/07\/16\/foreign-carmakers-in-china-face-increasingly-precarious-situation.html\" style=\"\" rel=\"noopener\">have seen significant declines in sales<\/a>, as consumer preference shifts toward EVs and away from the luxury auto market. Domestic competition is also playing a factor, as more and more Chinese brands outcompete multinationals in the Chinese market.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Distressed real estate markets are partly to blame:<\/strong> The heavily indebted Chinese real estate sector has seen growth slow since late 2021. With much of households\u2019 wealth tied up in real estate, the downturn in the market has had a significant impact on consumer spending. \u201cUncertainty surrounding disposable income prospects, combined with further shrinkage of household wealth due to falling housing prices has led to a reduction in non-essential expenditure or a shift towards value-for-money product,\u201d impacting not just restaurants but also other discretionary categories like \u201cclothing, cosmetics, and gold and silver jewelry,\u201d Fitch Ratings analysts say in a recent <a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/research\/corporate-finance\/china-catering-sector-muted-growth-likely-to-persist-07-08-2024\" style=\"\" rel=\"noopener\">research note<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Still, a slow turnaround isn\u2019t enough of a reason to turn one\u2019s back on what is (arguably)<\/strong><strong> the largest economy in the world<\/strong>, executives point out. \u201cEven at current growth rates China still accounts for almost one-third of the world\u2019s annual growth,\u201d CEO of Yum China Joey Wat tells the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/8e2f415b-46bb-473f-9c26-474322e372f2\" style=\"\" rel=\"noopener\">Financial Times<\/a>. And while lower sales hurt companies\u2019 bottom lines in the present period, executives believe that the country\u2019s \u201clong-term fundamentals are still in place,\u201d Anheuser-Busch InBev CEO Michel Doukeris tells the salmon-colored paper. Yet, despite a generally positive outlook, according to Wat \u201cbusiness is tough right now.\u201d<\/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 green<\/strong> this morning after one particularly volatile week that saw major sell-offs then sharp rebounds. The Kospi is looking at gains of 0.9%, while Hong Kong\u2019s Hang Seng is down 0.5% at dispatch time. The Nikkei is closed today as the Japanese observe Mountain Day. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- <\/strong>Futures for US indexes are down this morning as investors await inflation data due on Wednesday. <\/p><p><a target=\"_blank\" id=\"t.fd0ebf11d417e11e9675e70b626875ab18593b4b\" 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\">29,533<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.7% (YTD: +18.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 49.17<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 49.30<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB)<\/strong><\/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 49.18<\/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 49.28<\/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\">11,772<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: -1.6%)<\/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>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\">9,306<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: -2.8%)<\/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>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\">4,195<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +3.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,344<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +12.0%)<\/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\">8,168<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +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\">4,675<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +3.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 79.66<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.14<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,473.40<\/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 58,573<\/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\">-4.1% (YTD: +38.6%)<\/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 2.7% at yesterday\u2019s close<\/strong> on turnover of EGP 4.0 bn (12.8% above the 90-day average). Local investors were net buyers. The index is up 18.6% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Elsewedy Electric (+11.0%), Alexandria Containers and Cargo Handling (+7.1%), and Eastern Company (+6.1%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Edita (-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>Raya Holding distributed some 3.97 mn shares <\/strong>\u2014 worth EGP 8.9 mn \u2014 among its employees under its employee incentive and reward program, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/910.jpg\" style=\"\" rel=\"noopener\">EGX bulletin<\/a>. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/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\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"639597\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">7<\/div>\r\n\r\n                        <p class=\"f-graphik\">BLACKBOARD<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/what-does-lower-expected-public-school-enrollment-mean-for-egypts-education-spending\/\">\r\n                            What does lower expected public school enrollment mean for Egypt\u2019s education spending?<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/what-does-lower-expected-public-school-enrollment-mean-for-egypts-education-spending\/\" 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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Think again. <\/strong>Lower birth rates are set to put the number of students enrolling at every level of public education on a declining trajectory by 2035. While the state has earmarked some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cdefd8a0-29d1-4e04-8dc6-d73c04012aab\/\" style=\"\" rel=\"noopener\">EGP 294.6 bn<\/a> for education spending during the current fiscal year \u2014 a 28.2% y-o-y increase \u2014 with plans to hire 150k teachers and build 16k classrooms, the education sector faces a funding gap of USD 7 bn for FY 2024-25. <\/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>Forecasts through 2035 suggest that public spending will not be sufficient to hit our<\/strong><strong> targets<\/strong>, even in light of fewer births, a new <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/152.pdf\" style=\"\" rel=\"noopener\">Unicef report (pdf)<\/a> based on Education Ministry and Capmas data says. More investment \u2014 particularly from the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e1d26444-89e1-4c62-a755-5f8584181199\/gov%25e2%2580%2599t-explores-ways-to-boost-dwindling-private-education-investment\" style=\"\" rel=\"noopener\">private sector<\/a> \u2014 is needed to hit the Education Ministry\u2019s targets and equip students with the skills for a changing global economy. We break down the report for you below.<\/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\">DEMOGRAPHIC CHANGES WILL SHIFT STAFFING AND CLASSROOM NEEDS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Declining birth rates by the numbers:<\/strong> Egypt\u2019s fertility rate has been <a target=\"_blank\" href=\"https:\/\/data.worldbank.org\/indicator\/SP.DYN.TFRT.IN?locations=EG\" style=\"\" rel=\"noopener\">on the decline<\/a> in recent years, from a recent high of 3.4 from 2013-2015 to 2.9 in 2022. We\u2019re already seeing the effect of this decline in public school enrollment \u2014 between 2018\/19 and 2022\/23, Egypt saw the number of children enrolled at pre-primary public institutions fall 10.7% from 1.04 mn to 927k. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The size of pre-primary and primary cohorts have already peaked:<\/strong> As smaller cohorts move through the education system, Capmas projections cited by Unicef suggest that the number of students enrolled at each stage of education \u2014 pre-primary, primary, preparatory, and general secondary \u2014 will be in decline by 2035. Unicef estimates that pre-primary and primary enrollment have already peaked, with pre-primary enrollment expected to decline 16% to 3.8 mn and primary enrollment to decline approximately 29% to 11.7 mn between 2025 and 2035. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Preparatory and general secondary enrollment to peak in 2027: <\/strong>For preparatory schools, the number of enrolled students is due to rise from an estimated 6.8 mn in 2025 to 7.3 mn in 2027, before falling to 6.8 mn in 2035. Meanwhile, the number of students enrolled in public general secondary schools is expected to rise from 6.1 mn in 2025 to 7.3 mn in 2027, before falling to 7 mn in 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The caveat:<\/strong> Unicef chose to use Capmas\u2019 low population growth rate model when estimating changes in enrollment, so it\u2019s possible that these numbers underestimate the size of incoming cohorts. If that\u2019s the case, we could reach peak enrollment later than these estimates suggest.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Assessing our public education needs by our own metrics: <\/strong>The Unicef report attempts to estimate the number of teachers, classrooms, and schools needed to achieve different key performance indicators (KPIs) laid out in the Education Ministry\u2019s Education Sector Plan 2023-2027, notably the student-teacher ratio, class size, and gross enrollment rate KPIs set for 2027. These KPIs are quite maximalist, aiming for large decreases in all metrics across all levels of pre-tertiary public education. Because primary and preparatory education are the two education levels that the government is trying to achieve full enrollment in, we\u2019re going to focus on their needs in particular.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We need nearly 60% more primary school teachers:<\/strong> In order to bring the currently projected student-teacher ratio of 41:1 to the ministry\u2019s goal of 26:1 by 2025, we would need to hire 197.7k teachers to add to the 357.7k registered with the Education Ministry in 2022\/23. Even with the decrease in enrollment by 2035, we would still need 136.2k teachers on top of the 281.9k expected to be employed at that time, given expected attrition rates.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, higher enrollment means more classrooms:<\/strong> To reach full gross enrollment and the targeted primary school class size of 37.8 by 2025, the government would have to build 140.8k more classrooms, in addition to the 230.8k recorded in 2022\/23. This represents a roughly 62% increase in the number of public primary school classrooms available. While the number of needed classrooms will decrease as smaller cohorts move through this system, there will be an acute need for more classrooms through 2035 should the government aim to achieve its enrollment targets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a similar story for preparatory education: <\/strong>In order to reach the ministry\u2019s targeted 21:1 student-teacher, the state would need to hire 100.4k teachers in 2025, 169.5k in 2030, and 124.6k in 2035, taking into account expected teacher attrition. The pattern is similar for the number of classrooms, with an additional 58.8k classes needed \u2014 a 53% increase from the 110.1k classrooms registered in 2022\/23 \u2014 in 2025, with the number of classes needed peaking at 195.5k in 2030 and then declining.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE PUBLIC SHORTFALL IS A PRIVATE SECTOR OPPORTUNITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Unicef\u2019s numbers reflect likely unachievable KPIs and should thus be taken with a grain<\/strong><strong> of salt. <\/strong>Yet these projections do point to an important tradeoff within our education sector \u2014 namely, that increasing the number of students in classrooms is only useful insofar as there are teachers and physical and educational resources available to help them learn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But with change, comes potential: <\/strong>The shift in our demographic profile also comes as the state aims to shift toward encouraging private sector investment \u2014 including in the education sector. The public shortfall offers an occasion for the private sector to get involved \u2014 to the benefit of all of Egypt\u2019s kids.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Private sector investment desperately needs a shot in the arm. <\/strong>According to CIRA Education CEO Mohamed El Kalla speaking previously to Enterprise, the sector\u2019s share in educational investments <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e1d26444-89e1-4c62-a755-5f8584181199\/gov%25e2%2580%2599t-explores-ways-to-boost-dwindling-private-education-investment\" style=\"\" rel=\"noopener\">has dropped to 9% from 10%<\/a> in recent years, with its inability to keep pace with demand for new schools and declining revenues from tuition fees playing a contributing role.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Financing is also a big challenge,<\/strong> with the high interest rate environment making it difficult for private sector players to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/88680892-1c4e-4d3f-a7ae-9d71b021416e\/tight-macro-conditions-are-pushing-private-education-players-to-look-more-closely-at%253cmark%253e-ppp%253c%2Fmark%253e-%2B-alternative-financing-options\" style=\"\" rel=\"noopener\">access funding<\/a> for capital expenditures on facilities and land purchases. According to industry players, bank funding needs to be more accessible for private and international schools, which are a long-term investment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The state is already on it:<\/strong> The government is already taking steps to attract private investment, including via preparations <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e1d26444-89e1-4c62-a755-5f8584181199\/gov%25e2%2580%2599t-explores-ways-to-boost-dwindling-private-education-investment\" style=\"\" rel=\"noopener\">to offer 24 schools<\/a> to investors as part of the state\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/88680892-1c4e-4d3f-a7ae-9d71b021416e\/tight-macro-conditions-are-pushing-private-education-players-to-look-more-closely-at%253cmark%253e-ppp%253c%2Fmark%253e-%2B-alternative-financing-options\" style=\"\" rel=\"noopener\">public-private partnership program<\/a>. It also recently announced that it had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d41c00d-190d-4119-b5f7-28e3429d23fc\/madbouly-cabinet-beefs-up-penalties-for-hoarders\" style=\"\" rel=\"noopener\">extended a set of 30-50% tax breaks<\/a> on education investments until 2029.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More incentives need to be on offer: <\/strong>Closing the funding gap is going to require further incentives and facilitations. Policymakers need to get creative \u2014 and realistic \u2014 about how we fund public education in the years ahead.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One possibility \u2014 encouraging private players to harness debt: <\/strong>Private and international schools can <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/88680892-1c4e-4d3f-a7ae-9d71b021416e\/tight-macro-conditions-are-pushing-private-education-players-to-look-more-closely-at%253cmark%253e-ppp%253c%2Fmark%253e-%2B-alternative-financing-options\" style=\"\" rel=\"noopener\">take advantage of debt tools<\/a> available in the market, such as future flow securitization \u2014 which our friends at CIRA Education became the first to tap last year with its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5b387f20-658e-4fcc-89e6-602f5c20a966\" style=\"\" rel=\"noopener\">EGP 800 mn issuance<\/a>. This debt instrument \u2014 a cheaper alternative to bank loans \u2014 could also give companies that struggled to secure growth capital access to immediate funds, noted CIB board member and former Financial Regulatory Authority head Sherif Samy at an education-focused investment conference back in June. New market entrants that are struggling with the high cost of entry could also tap into real estate investment funds to help move forward with their expansion plans, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>The summer break must come to an end:<\/strong> Public schools are <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0b9afa37-e479-41dd-8efc-f72f2f65f6ff\/\" style=\"\" rel=\"noopener\">back in session<\/a> for the 2024\/2025 academic year on Saturday, 21 September, with the second semester starting on 8 February 2025 and ending on 5 June 2025.<\/li>\n<li><strong>Looking to do your master\u2019s in the UK?<\/strong> Applications for the British government\u2019s Chevening scholarship <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6a1e10d9-835b-4ad3-8b82-5aa6800ad69f\/\" style=\"\" rel=\"noopener\">opened on Tuesday<\/a>. The scholarship offers full financial support for students to pursue an eligible master\u2019s degree at a number of UK universities. <\/li>\n<li><strong>Thanaweya Amma results are out:<\/strong> Education Minister Mohamed Abdellatif held a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/09c5de72-5bc4-4512-a42a-f513e4bcff1f\/\" style=\"\" rel=\"noopener\">press conference<\/a> last week to announce the results of the Thanaweya Amma exams.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/blackboard\/\">Blackboard<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/budget-watch\/\">budget watch<\/a>\n         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class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/12\/639599\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-639599\" class=\"content-area-description single-story post-639599 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\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>More LNG shipments | Gas treatment | Carbon market | T-bill auction.<\/p>\n","protected":false},"featured_media":639580,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-639579","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"7f4b39f4-c356-4d3e-85f3-ad9bc884a04b","teaser":"More LNG shipments | Gas treatment | Carbon market | T-bill auction.","photo_url":"https:\/\/ent.news\/2024\/8\/930.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>EGX rebounds, recouping last week\u2019s losses - 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\/egx-rebounds-recouping-last-weeks-losses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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