{"id":639656,"date":"2024-08-13T00:00:00","date_gmt":"2024-08-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=639656"},"modified":"2025-12-17T16:43:08","modified_gmt":"2025-12-17T16:43:08","slug":"we-could-get-our-very-own-usd-150-mn-fixed-regasification-unit","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/we-could-get-our-very-own-usd-150-mn-fixed-regasification-unit\/","title":{"rendered":"We could get our very own USD 150 mn fixed regasification unit"},"content":{"rendered":"<section id=\"639658\" 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=\"639658\">\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\/13\/egypt-is-looking-to-attract-some-usd-2-bn-in-eu-investments\/\">\r\n                            Egypt is looking to attract some USD 2 bn in EU investments                        <\/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\/13\/egypt-is-looking-to-attract-some-usd-2-bn-in-eu-investments\/\" target=\"_blank\">\n                    Open in new 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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"639659\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/13\/egypt-is-looking-to-attract-some-usd-2-bn-in-eu-investments\/1072-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1072.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1072.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1072.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1072.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-639658\" class=\"content-area-description single-story post-639658 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-eu 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\/.28bbcb27-6a6a-4de0-b556-45e2486a8dff.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people. <\/strong>We have a brisk issue for you this morning led by the latest on our pharma shortage and news of discussions over a fixed regasification unit. <\/p><p class=\"tag-border-left\">WATCH THIS SPACE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- Egypt is looking to attract some USD 2 bn in foreign direct investment from EU <\/strong><strong>countries<\/strong> in its industrial sector by the end of 2024, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/08\/12\/%D9%85%D8%B3%D8%A4%D9%88%D9%84-%D9%85%D8%B5%D8%B1-%D8%AA%D8%B3%D8%AA%D9%87%D8%AF%D9%81-%D8%AC%D8%B0%D8%A8-%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D9%85%D8%A8%D8%A7%D8%B4%D8%B1%D8%A9-%D8%A3%D9%88%D8%B1%D9%88%D8%A8%D9%8A%D8%A9-%D8%AA%D8%AA%D8%AC%D8%A7%D9%88%D8%B2-%D9%85%D9%84%D9%8A%D8%A7%D8%B1%D9%8A-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%81%D9%8A-2024\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reports, citing an unnamed government official. The government is aiming to intensify talks with major European firms and participate in exhibitions across key European capital cities in the coming period, the source added.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We are already expecting a lot of EU investments to come <\/strong>after Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b44bf694-9410-4f47-beea-46b32a2a5f11\/egypt-inks-eur-67.7-bn-worth-of-agreements-and-mous-at-egypt-eu%253cmark%253e-investment-conference%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">inked EUR 67.7 bn<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b44bf694-9410-4f47-beea-46b32a2a5f11\/egypt-inks-eur-67.7-bn-worth-of-agreements-and-mous-at-egypt-eu%253cmark%253e-investment-conference%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">worth of agreements and MoUs<\/a> at the Egypt-EU Investment Conference in June. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The International Eye Hospital could soon welcome a new majority shareholder: <\/strong>An unnamed strategic investor is looking to acquire no less than 51% of local healthcare chain International Eye Hospital, a source with knowledge of the matter reportedly told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/08\/12\/1816966\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. Negotiations are currently ongoing and should wrap up before the end of the year. <\/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=\"wwtt4\"><\/a> <strong>#3- EU launches anti-dumping investigation into Egyptian steel exports: <\/strong>The European Commission has initiated an anti-dumping investigation into hot-rolled flat products of iron, non-alloy or other alloy steel imports from Egypt, India, Japan, and Vietnam, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/1069.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> last week. The probe follows a complaint by the European Steel Association calling for the imposition of anti-dumping duties.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who is involved? <\/strong>Ezz Steel, Egypt's sole exporter of hot-rolled flat steel to the EU, received a notice from the Commission last week, it said in a <a target=\"_blank\" href=\"https:\/\/www.londonstockexchange.com\/news-article\/AEZD\/initiation-of-anti-dumping-investigation\/16615059\" style=\"\" rel=\"noopener\">statement<\/a> to the London Stock Exchange. The company, which considers the EU a major market for its flat steel exports, has pledged full cooperation with the investigation. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> The exporters under investigation will be required to provide detailed data in the next few weeks, Ezz Steel said. The investigation is expected to be lengthy given the involvement of multiple countries and the complexity of the required data, it added.<\/p><p class=\"tag-border-left\">DATA POINT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>The number of e-wallets in the country rose to 39.4 mn at the end of 2023<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/1038.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a> by the Central Bank of Egypt (CBE). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Could mobile contactless payment finally come to Egypt? <\/strong>The central bank is finalizing the technical infrastructure needed to allow mobile contactless payments, the report said. The move will allow merchants to accept contactless payments through their mobile devices and has been in the works <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08a18893-7b7e-4681-8215-21e86b3aeb99\" style=\"\" rel=\"noopener\">for years now<\/a>. <\/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 bright day in Cairo<\/strong>, with a high of 35\u00b0C and a low of 27\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s almost as hot in Alexandria<\/strong>, with a high of 33\u00b0C and a low of 25\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p class=\"tag-border-left\">HAPPENING TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>Your last chance to apply to the Climate Adaption Innovation Accelerator:<\/strong> The Planning and International Cooperation Ministry and World Food Programme (WFP) are <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02vWW2SxQmTtvkuNKU9A27ws4zwRn3Nbi8uB4zZE5fVoW24PRnt8DvdKHg497YiYjFl\" style=\"\" rel=\"noopener\">offering<\/a> grants to local startups focused on climate adaptation and food security under the Climate Adaptation Innovation Accelerator Programme. Successful applicants will receive up to USD 200k in grants alongside guidance, support, and the chance to participate in WFP operations. The accelerator program targets startups, companies, and NGOs in Egypt, Jordan, and Lebanon. <strong>The application deadline is today, 11pm local time. You can apply <\/strong><strong><a target=\"_blank\" href=\"https:\/\/innovation.wfp.org\/climate-adaptation-innovation-accelerator-programme?fbclid=IwY2xjawEkFhlleHRuA2FlbQIxMAABHSgElRYY51FNEBqSJgKZZRJTberA5_BmcIc02NnvVIACpGZ5RBM_NJP0Kg_aem_aLIpGzHcDVpMI6C7Jnifvg\" style=\"\" rel=\"noopener\">here<\/a><\/strong><strong>.<\/strong><\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rising imminence of Iran attacking Israel \u2014 potentially triggering a regional war \u2014 is<\/strong><strong> largely leading the conversation<\/strong> in the international press this morning. Washington is bracing itself for what its intelligence suggests \u201ccould be a significant set of attacks\u201d on Israel by Iran \u201cand \/ or its proxies,\u201d White House Press Secretary John Kirby said last night, according to <a target=\"_blank\" href=\"https:\/\/www.whitehouse.gov\/briefing-room\/press-briefings\/2024\/08\/12\/on-the-record-press-gaggle-by-white-house-national-security-communications-advisor-john-kirby-21\/\" style=\"\" rel=\"noopener\">a press readout<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US has ramped up its \u201cforce posture and capabilities in the region even in just the <\/strong><strong>last few days\u201d<\/strong> in anticipation of a potential outbreak of violence, Kirby said. US Secretary of Defense Lloyd Austin had <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/article\/2024\/aug\/12\/us-military-strike-group-jets-submarine-middle-east-iran-attack-israel\" style=\"\" rel=\"noopener\">ordered yesterday<\/a> a strike group to speed up its deployment to the region, following a call with his Israeli counterpart Yoav Galant. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This comes as Israel pushes ahead with its attacks on Palestine, killing more than 20 <\/strong><strong>people<\/strong> in its latest strikes in Khan Younis, Gaza City, and Rafah yesterday. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-keeps-up-strikes-gaza-fears-wider-war-grow-2024-08-12\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-08-12\/us-shares-israel-s-view-iranian-attack-is-increasingly-likely\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/404a3537-ef90-49e7-9fce-2fc621980107\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/08\/12\/us-sends-more-forces-to-the-middle-east-to-defend-israel.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH NOTING- Elon Musk hosted Donald Trump for a live streamed interview<\/strong><strong> and X crashed<\/strong> due to technical glitches \u2014 which Musk blamed on a cyberattack. (<a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/08\/12\/elon-musk-donald-trump-event-on-x-crashes-site-tesla-ceo-blames-hackers.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/elections\/trump-musk-gear-up-for-x-interview-tonight-98c5e9f9\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2024\/08\/12\/trump-musk-x-interview-problems-00173739\" style=\"\" rel=\"noopener\">Politico<\/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\/ads\/imgs\/239.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We look at how climate change has started affecting Egyptian businesses.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span 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class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/794.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Dive into the enchantment of Somabay's underwater world.<\/span><span> Encounter playful dolphins and captivating coral reefs, where each plunge unveils a new marvel. #SummerStoriesBegin #OneParadiseAllSeasons #SomabayRedSea<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"639661\" 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=\"639661\">\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\/13\/govt-is-in-talks-with-italys-eni-over-a-new-usd-150-mn-fixed-regasification-unit\/\">\r\n                            Egypt is in talks with Italy\u2019s Eni over a new USD 150 mn fixed regasification unit                        <\/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 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<strong>Eni to set up a fixed regasification unit in Damietta:<\/strong> The Madbouly government is in talks with Italian energy giant Eni to build a regasification unit, with investments of about USD 150 mn, in Damietta, an unnamed government official told Enterprise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Project profile:<\/strong><span style=\"background-color: transparent;\"> The unit will be built on land adjacent to the Damietta LNG facility \u2014 operated by a joint venture between Eni and the Egyptian Natural Gas Holding Company (EGAS) \u2014 to receive LNG shipments and regasify them, <\/span><a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/companies\/50937\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%AA%D9%81%D9%82-%D9%85%D8%B9-%D8%A5%D9%8A%D9%86%D9%8A-%D8%B9%D9%84%D9%89-%D8%AA%D8%B4%D9%8A%D9%8A%D8%AF-%D9%88%D8%AD%D8%AF%D8%A9-%D8%AA%D8%BA%D9%88%D9%8A%D8%B2-%D8%AB%D8%A7%D8%A8%D8%AA%D8%A9-%D9%81%D9%8A-%D8%AF%D9%85%D9%8A%D8%A7%D8%B7\/\" rel=\"noopener\">Asharq Business<\/a><span style=\"background-color: transparent;\"> reports. The main objective is to bridge the gap between higher-than-expected local consumption, which was <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8883e2e1-8006-4fd6-be3c-58d871338ead\/madbouly-addresses-power-cuts,-renewables-goals,-meds-crisis\" rel=\"noopener\">up 12% y-o-y in July<\/a><span style=\"background-color: transparent;\">, and dwindling domestic gas production.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where things stand:<\/strong> EGAS has tapped an international consultant to conduct the required studies ahead of building the unit and to explore the possibility of utilizing the Damietta LNG\u2019s storage facilities, which can accommodate over 160k cubic meters worth of LNG, Asharq Business reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Egypt currently has access to two regasification units, one in Jordan\u2019s terminal in Aqaba, which Egypt was given the right to in an agreement inked last year, and a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/291997ca-453f-41e9-a363-a5ecb331befb\/\" style=\"\" rel=\"noopener\">newly-leased<\/a> Norwegian floating storage and regasification unit currently docked in Ain Sokhna. The state contracted the unit after a fall in domestic production <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/317bf16c-ec16-489f-ac56-05ad40a04693\" style=\"\" rel=\"noopener\">pushed<\/a> the country from being a net exporter to a net importer of LNG. The government is in talks with Jordan to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e27ed67-0e5a-45d0-b840-eb5f360b9301\/\" style=\"\" rel=\"noopener\">jointly purchase a new floating regasification unit<\/a>, with discussion of leasing out the ship to other countries should our supply gap diminish.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But that\u2019s not enough:<\/strong> Our source tells us that Egypt needs at least three regasification units to meet the increasing industrial and commercial demand for gas. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Long-term leases leave the market short on available units:<\/strong> There are currently no regasification units up for lease from manufacturers, since leasing contracts typically extend for 15-20 years, the source told us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Eni has been showering us with love: <\/strong>Over the past month, Eni has agreed to inject new investments in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/97c6012f-bce9-4cd3-a3da-a6e9fd62038e\/%253cmark%253eeni%253c%2Fmark%253e-to-drill-two-new-wells-in-zohr-in-2025\" style=\"\" rel=\"noopener\">well-drilling<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/61b1e9bb-7898-4b33-9819-909aef30fdb0\/%253cmark%253eeni%253c%2Fmark%253e-to-boost-egypt'\" style=\"\" rel=\"noopener\">exploration and development<\/a> in Egypt\u2019s oil and gas sector. The government\u2019s clearing of USD 1.3 bn in arrears owed foreign oil and gas companies was key to encouraging Eni to further invest in Egypt, our source says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Locking in low prices:<\/strong> The source noted that the country\u2019s gas needs have been secured until February of next year after the government took advantage of current low oil prices to contract more shipments. Finance Minister Ahmed Kouchouk last week said that the government is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21340043-4153-493c-b299-be6b09b9e480\/egypt-launches-its-biggest-wheat-tender-ever\" style=\"\" rel=\"noopener\">moving quickly to take advantage of lower commodity prices<\/a> amid a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/ccdca09e-b890-4c64-befb-02e6d0d8d8ca\/global-markets-meltdown-hits-egypt-%25e2%2580%2594-pushing-the-egp-to-six-month-lows\" style=\"\" rel=\"noopener\">meltdown<\/a> in global markets.<\/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\/egas\/\">EGAS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                          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              <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/13\/govt-to-end-meds-shortage-with-subsidized-loans-for-pharma-players\/\">\r\n                            Egypt to end meds shortage with subsidized loans for pharma players                        <\/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\/13\/govt-to-end-meds-shortage-with-subsidized-loans-for-pharma-players\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Gov%E2%80%99t+to+end+meds+shortage+with+subsidized+loans+for+pharma+players+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F08%2F13%2Fgovt-to-end-meds-shortage-with-subsidized-loans-for-pharma-players%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\/13\/govt-to-end-meds-shortage-with-subsidized-loans-for-pharma-players\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1023.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"639665\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/13\/govt-to-end-meds-shortage-with-subsidized-loans-for-pharma-players\/1023-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1023.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1023.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1023.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1023.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-639664\" class=\"content-area-description single-story post-639664 post type-post status-publish format-standard has-post-thumbnail hentry category-pharma tag-commodities tag-egyptian-drug-authority tag-enterpriseam tag-pharma 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\/.c6021211-e7db-43be-991b-0c2bae4391c5.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Subsi<\/strong><strong>dized loans for pharma players?<\/strong> The government has approved a EGP 7 bn of subsidized loans for pharma companies, offering them financing at an interest rate of 5-7% to help streamline meds production and secure necessary imports, head of the Federation of Egyptian Chambers of Commerce\u2019s pharma division Ali Auf told Enterprise. The move will help end the ongoing meds shortage throughout the country. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The local market has seen <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/208073c5-2ef2-4c62-a891-4a385a059b93\/\" style=\"\" rel=\"noopener\">shortages of meds<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0f20e8b9-2a88-4d84-9c4c-cbb7083d24eb\/\" style=\"\" rel=\"noopener\">medical supplies<\/a> recently, just as <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5df1cdae-0223-4453-8acf-85c87954c762\" style=\"\" rel=\"noopener\">calls<\/a> from pharma players to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b514c8d2-44d3-41f8-9eac-ef500d9b464c\/egyptian-pharma-firms-receive-new-pricing-guidelines-that-will-open-the-way-to-price-hikes-up-to-50%2525\" style=\"\" rel=\"noopener\">further<\/a> raise prices have piled up \u2014 most recently in response to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/862efbea-9bc6-40b6-8d32-1ad9e18c24ae\/emirati-president-lands-in-egypt-to-talk-investments,-regional-stability\" style=\"\" rel=\"noopener\">rising fuel costs<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More price hikes coming soon:<\/strong> The Egyptian Drug Authority has been approving price hikes for various types of medicine in response to companies\u2019 requests, Auf told us. Meds for chronic conditions will see smaller increases within the range of 10-30%, while those for non-chronic diseases will be subject to sharper 30-50% increases.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Making progress:<\/strong> \u201cWe're monitoring the flow of meds into pharmas on a daily basis and have ensured that all essential meds are available, like those for blood pressure and diabetes,\u201d Auf told us, adding that the number of missing drugs will drop from 1k to fewer than 300 by the end of August.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>Prime Minister Moustafa Madbouly said <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8883e2e1-8006-4fd6-be3c-58d871338ead\/\" style=\"\" rel=\"noopener\">last month<\/a> that his cabinet is working on a plan to source 3k types of meds as part of a broader push to address the meds shortage within the next three months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So it doesn\u2019t happen again: <\/strong>The government has added 1.5k new drug warehouses to the pharma division and restructured the drug distribution system, Auf said. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-drug-authority\/\">Egyptian Drug Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/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=\"639666\" 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=\"639666\">\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\">Logistics<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/13\/egypt-to-establish-a-logistics-zone-in-rwanda\/\">\r\n                            Egypt to set up a logistics zone in Rwanda                        <\/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\/13\/egypt-to-establish-a-logistics-zone-in-rwanda\/\" 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\/13\/egypt-to-establish-a-logistics-zone-in-rwanda\/')\">\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\/13\/egypt-to-establish-a-logistics-zone-in-rwanda\/\">\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=Egypt to establish a logistics zone in Rwanda&url=https:\/\/enterpriseam.com\/egypt\/2024\/08\/13\/egypt-to-establish-a-logistics-zone-in-rwanda\/\">\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\/13\/egypt-to-establish-a-logistics-zone-in-rwanda\/&title=Egypt to establish a logistics zone in Rwanda\">\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=Egypt+to+establish+a+logistics+zone+in+Rwanda+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F08%2F13%2Fegypt-to-establish-a-logistics-zone-in-rwanda%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\/13\/egypt-to-establish-a-logistics-zone-in-rwanda\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1018.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"639667\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/13\/egypt-to-establish-a-logistics-zone-in-rwanda\/1018-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1018.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1018.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1018.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1018.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-639666\" class=\"content-area-description single-story post-639666 post type-post status-publish format-standard has-post-thumbnail hentry category-logistics tag-enterpriseam tag-logistics tag-rwanda tag-tanzania 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\/.de00456b-bb90-48a2-a9c1-8363c428baa9.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt will set up a logistics zone in Rwanda<\/strong>, after the Rwandan side allocated the necessary land near its border with Tanzania, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02ygrBVXgYEH3EBKdanMi5Qc56xm8wyUuubw6LXK8SNXRvLaqmtWBt7DX73ZEfPoEEl\" style=\"\" rel=\"noopener\">statement<\/a>. The move will help facilitate Egyptian companies\u2019 access to the Rwandan market. The announcement came during a meeting between Foreign Minister Badr Abdelatty and his Rwandan counterpart Olivier Nduhungirehe. No information was given over the size of the land that was allocated for the project, or the timeline for its implementation.<\/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>And a new MoU was inked: <\/strong>The two sides signed an MoU in the field of transportation, the statement read without elaborating any further. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The Transport Ministry had been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1bdb38ca-79bb-45e1-912e-33abdb685bea\/energean-to-release-orion-results-in-two-to-three-weeks.-plus:-egypt-to-establish-tanzania-%253cmark%253erwanda%253c%2Fmark%253e-logistics-corridor\" style=\"\" rel=\"noopener\">planning<\/a> to set up a logistics corridor connecting Tanzania and Rwanda in a bid to facilitate the flow of Egyptian exports to Africa. The corridor was set to run from Dar es Salaam port in Tanzania and pass through a logistics zone and dry port, before reaching another logistics zone and dry port in Rwanda.<\/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\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rwanda\/\">Rwanda<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tanzania\/\">Tanzania<\/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=\"639668\" 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=\"639668\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/13\/madinet-masr-juhayna-orascom-development-report-earnings\/\">\r\n                            Madinet Masr, Juhayna, Orascom Development report earnings                        <\/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\/13\/madinet-masr-juhayna-orascom-development-report-earnings\/\" 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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Revenues came in at just over EGP 4.3 bn, up 95.8% y-o-y as the company \u201cfocused on driving sales and revenue growth through the launch of new projects and phases across [its] developments.\u201d<\/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>Sales hit a fresh high:<\/strong> Madinet Masr\u2019s gross contracted sales hit a record high of EGP 20.9 bn during 1H 2024, rising 294% y-o-y. Some 69.1% of the sales came from the company\u2019s <a target=\"_blank\" href=\"https:\/\/madinetmasr.com\/sarai\" style=\"\" rel=\"noopener\">Sarai<\/a> project, while 30.7% came from its <a target=\"_blank\" href=\"https:\/\/madinetmasr.com\/taj-city\" style=\"\" rel=\"noopener\">Taj City<\/a> project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It was a different story for 2Q 2024:<\/strong> On a quarterly basis, the developer\u2019s net income came in at EGP 281.3 mn in 2Q 2024, up 0.3% from the figure reported during the same period last year. Revenues stood at EGP 1.3 bn for the quarter, up 11.2% y-o-y. During the quarter, the company saw its gross contracted sales rise 71.3% y-o-y to EGP 6 bn \u2014 72.1% of the sales came from the Sarai project and 27.8% came from the Taj City project. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong> \u201cAs we move into the second half of 2024, we remain optimistic about the opportunities ahead. Our strategic priorities will continue to focus on sustainable growth, customer-centric innovation, and operational excellence,\u201d CEO Abdallah Sallam said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Madinet Masr goes to KSA:<\/strong> The developer has set up a real estate asset management subsidiary under the name \u201cDoors\u201d and is planning to inaugurate the first regional branch of the new subsidiary in Saudi Arabia as a prologue to further regional expansion, the developer said in EGX disclosures (<a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/984.pdf\" style=\"\" rel=\"noopener\">here (pdf)<\/a> and <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/983.pdf\" style=\"\" rel=\"noopener\">here (pdf)<\/a>). The real estate developer will also set up three other subsidiaries \u2014 a sports club manager, a residential communities manager, and a finishing services company.<\/p>\n<p class=\"tag-border-left\">JUHAYNA REPORTS \u201cIMPRESSIVE\u201d EARNINGS IN 1H- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Juhayna sees income, revenues rise:<\/strong> Dairy giant Juhayna saw its next income jump 166% y-o-y to EGP 1.5 bn during 1H 2024, according to its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/988.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Revenues saw a 69% y-o-y increase during the half to record EGP 11.5 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a quarterly basis: <\/strong>The company logged some EGP 1 bn in net income during 2Q 2024, up 362% y-o-y thanks t o \u201cthe ongoing success in both the concentrate segment and the export of finished products.\u201d Revenues saw a 70% y-o-y increase to EGP 6 bn during the second quarter of the year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Exports nearly tripled:<\/strong> Juhayna's export sales across concentrates surged 190% y-o-y to hit EGP 1.9 bn during 1H 2024, contributing 17% of the company's total revenues. In USD terms, exports grew 116% y-o-y to reach USD 46.7 mn in 1H 2024. \u201cJuhayna is actively expanding its global presence and exploring new opportunities to further enhance its export segment, demonstrating a commitment to sustainable growth and market diversification,\u201d the company said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company also announced strategic changes<\/strong>, including the appointment of Tarek Elwan (<a target=\"_blank\" href=\"https:\/\/eg.linkedin.com\/in\/tarek-elwan-9a1b775b\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as the company\u2019s new CFO \u2014 part of the company\u2019s \u201cevolution from a local business to a global enterprise.\u201d<\/p>\n<p class=\"tag-border-left\">ODE SEES BOTTOM LINE HOLD STEADY DESPITE FX LOSSES- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EGX-listed Orascom Development Egypt (ODE) saw its net income dip slightly<\/strong> to EGP 942.7 mn from EGP 1.0 bn in 1H 2024, remaining almost unchanged despite significant FX losses during the six-month period, the company said in ist <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/998.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Revenues were up 64.9% y-o-y to EGP 10.2 bn during the first half of 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adjusted net income grew after excluding FX losses:<\/strong> The company incurred a hefty loss of EGP 2.3 bn during the six-month period, EGP 2.2 bn of which was from foreign currency losses due to the EGP float. The company\u2019s adjusted net income for 1H 2024 \u2014 excluding FX losses \u2014 increased to EGP 3.2 bn, up 135.7% y-o-y.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Net real estate sales <\/strong>more than doubled y-o-y increase during the half to EGP 15.7 bn \u2014 El Gouna contributed 50% of sales, O West development contributed 36% of sales, and Makadi Heights made up 14%. Selling prices were up across all developments, rising most steeply in El Gouna by 67.3%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the second quarter:<\/strong> The developer\u2019s topline saw a 86.4% y-o-y jump to EGP 6 bn during the second quarter of the year. Meanwhile, net income for the quarter came in at a record-breaking EGP 1.9 bn, up 209.8% y-o-y thanks to growth across all business segments.<\/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\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/juhayna\/\">Juhayna<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madinet-masr\/\">Madinet Masr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-development-egypt\/\">Orascom Development Egypt<\/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<section id=\"639670\" 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=\"639670\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/13\/walid-gamal-el-din-to-head-the-sczone-for-another-year-plus-scas-osama-rabie-to-retain-his-role\/\">\r\n                            Walid Gamal El Din to head Egypt\u2019s SCZone for another year                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/13\/walid-gamal-el-din-to-head-the-sczone-for-another-year-plus-scas-osama-rabie-to-retain-his-role\/\" 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\/13\/walid-gamal-el-din-to-head-the-sczone-for-another-year-plus-scas-osama-rabie-to-retain-his-role\/')\">\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\/13\/walid-gamal-el-din-to-head-the-sczone-for-another-year-plus-scas-osama-rabie-to-retain-his-role\/\">\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=Walid Gamal El Din to head the SCZone for another year. PLUS: SCA\u2019s Osama Rabie to retain his role&url=https:\/\/enterpriseam.com\/egypt\/2024\/08\/13\/walid-gamal-el-din-to-head-the-sczone-for-another-year-plus-scas-osama-rabie-to-retain-his-role\/\">\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\/13\/walid-gamal-el-din-to-head-the-sczone-for-another-year-plus-scas-osama-rabie-to-retain-his-role\/&title=Walid Gamal El Din to head the SCZone for another year. PLUS: SCA\u2019s Osama Rabie to retain his role\">\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=Walid+Gamal+El+Din+to+head+the+SCZone+for+another+year.+PLUS%3A+SCA%E2%80%99s+Osama+Rabie+to+retain+his+role+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F08%2F13%2Fwalid-gamal-el-din-to-head-the-sczone-for-another-year-plus-scas-osama-rabie-to-retain-his-role%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\/13\/walid-gamal-el-din-to-head-the-sczone-for-another-year-plus-scas-osama-rabie-to-retain-his-role\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1022.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"639671\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/13\/walid-gamal-el-din-to-head-the-sczone-for-another-year-plus-scas-osama-rabie-to-retain-his-role\/1022-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1022.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1022.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1022.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1022.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-639670\" class=\"content-area-description single-story post-639670 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-egyptair tag-enterpriseam tag-moves tag-osama-rabie tag-suez-canal-authority tag-suez-canal-economic-zone tag-walid-gamal-el-din 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\/.2933fc16-adca-477f-956c-120f14c4c2f9.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Gamal El Din heads SCZones for another year:<\/strong> President Abdel Fattah El Sisi has renewed Walid Gamal El Din's term as chairman of the Suez Canal Economic Zone (SCZone) for another year, effective 12 August, according to an SCZone <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid08FeYF9Qk66Gv4XeewmyXoN4kCqCCoPxDxkGUeSx8VMGHDn2RwbHD4cKPZEE8aNtRl\" style=\"\" rel=\"noopener\">statement<\/a>. Gamal El Din was appointed as the chairman of the General Authority of the SCZone in August 2022, before which he served as vice chairman of SCZone for Investment and Promotion. <\/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>El Sisi also extended the service of Suez Canal Authority (SCA) chairman and managing <\/strong><strong>director Osama Rabie<\/strong> for another one-year term, effective 12 August, according to a separate <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/SuezCanalAuthorityEG\/posts\/pfbid02AJMjtDubo1K4W1mFq8FtXjnECdzrJ8tJso1dPCWHPaYYWRB1ncqJQo7QjABB3Eibl\" style=\"\" rel=\"noopener\">statement<\/a>. Rabie has been serving as the SCA chief since August 2019. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- EgyptAir has a new head: <\/strong>EgyptAir Holding Chairman Yehia Zakaria has issued a <a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d8%a7%d9%84%d8%b7%d9%8a%d8%a7%d8%b1-%d9%85%d8%ad%d9%85%d8%af-%d8%b9%d9%84%d9%8a%d8%a7%d9%86-%d8%b1%d8%a6%d9%8a%d8%b3%d8%a7%d9%8b-%d9%84%d8%b4%d8%b1%d9%83%d8%a9-%d9%85%d8%b5%d8%b1-%d9%84%d9%84%d8%b7\/\" style=\"\" rel=\"noopener\">decision<\/a> appointing pilot Ahmed Elian as chairman and managing director of EgyptAir taking over from Mohamed Moussa. <\/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\/egyptair\/\">EgyptAir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/osama-rabie\/\">Osama Rabie<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-authority\/\">Suez Canal Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/walid-gamal-el-din\/\">Walid Gamal El Din<\/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=\"639672 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=\"639672\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/13\/639672\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-639672\" class=\"content-area-description single-story post-639672 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=\"639673\" 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=\"639673\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/13\/the-thanaweya-amma-drama-isnt-over-yet\/\">\r\n                            The Thanaweya Amma drama isn\u2019t over yet                        <\/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\/13\/the-thanaweya-amma-drama-isnt-over-yet\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                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href=\"https:\/\/api.whatsapp.com\/send?text=The+Thanaweya+Amma+drama+isn%E2%80%99t+over+yet+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F08%2F13%2Fthe-thanaweya-amma-drama-isnt-over-yet%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\/13\/the-thanaweya-amma-drama-isnt-over-yet\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2388.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"639674\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/13\/the-thanaweya-amma-drama-isnt-over-yet\/2388-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2388.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2388.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2388.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2388.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-639673\" class=\"content-area-description single-story post-639673 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-education tag-enterpriseam tag-last-nights-talk-shows tag-thanaweya-amma 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\/.69218aad-0413-492c-bd30-d543b2660a00.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Last night\u2019s talk shows centered around two government decisions<\/strong> \u2014 compensating some Thanaweya Amma students for an exam error and streamlining building permit procedures.<\/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>A physics exam bloop: <\/strong>The Education Ministry added two marks to the physics exam scores of some Thanaweya Amma students after it found that two answers to a multiple-choice question were correct, compensating those who selected the second choice, it <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/egypt.moe\/posts\/905105398314068?ref=embed_post\" style=\"\" rel=\"noopener\">said<\/a> yesterday. The ministry has launched an urgent investigation into the matter. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The error was slammed on the airwaves: <\/strong>\u201cWhat happened is a crime,\u201d Ala Mas\u2019ouleety\u2019s Ahmed Moussa lamented, demanding that those responsible be held accountable (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=oFt1rF7_nj8\" style=\"\" rel=\"noopener\">watch, runtime: 29:28<\/a>). The error will impact thousands of students \u2014 including the rankings of top students \u2014 and potentially compromise the integrity of other exam results, he said, calling on the Education Minister to explain what went wrong. Salet El Tahrir also had coverage (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=5w_ko5ULkAM\" style=\"\" rel=\"noopener\">watch, runtime: 6:38<\/a> | <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=7P0VrcPjMyw\" style=\"\" rel=\"noopener\">8:55<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Building permits made easy: <\/strong>Securing a building permit will now take 26 working days if an ins. policy isn\u2019t required and 40 days if it is after the Local Development Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MOLD.eg\/posts\/838504438460228?ref=embed_post&_rdc=1&_rdr\" style=\"\" rel=\"noopener\">simplified<\/a> the procedures by almost halving the number of required steps. Ministry spokesperson Khaled Kassem joined Salet El Tahrir to discuss the matter (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=kv89-KKwNMg\" style=\"\" rel=\"noopener\">watch, runtime: 4:59<\/a>). El Sa\u2019a El Sadesa also had the story (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=To6mm99tILI\" style=\"\" rel=\"noopener\">watch, runtime: 5:21<\/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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/thanaweya-amma\/\">Thanaweya Amma<\/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=\"639675\" 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=\"639675\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/13\/gasc-buys-280k-tons-of-wheat-missing-target-plus-news-from-ekh-tci-sanmar-mb-engineering-egx\/\">\r\n                            Egypt buys 280k tons of wheat, missing target                        <\/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\/13\/gasc-buys-280k-tons-of-wheat-missing-target-plus-news-from-ekh-tci-sanmar-mb-engineering-egx\/\" 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\/13\/gasc-buys-280k-tons-of-wheat-missing-target-plus-news-from-ekh-tci-sanmar-mb-engineering-egx\/')\">\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\/13\/gasc-buys-280k-tons-of-wheat-missing-target-plus-news-from-ekh-tci-sanmar-mb-engineering-egx\/\">\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=GASC buys 280k tons of wheat, missing target. PLUS: News from: EKH, TCI Sanmar, MB Engineering, EGX&url=https:\/\/enterpriseam.com\/egypt\/2024\/08\/13\/gasc-buys-280k-tons-of-wheat-missing-target-plus-news-from-ekh-tci-sanmar-mb-engineering-egx\/\">\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\/13\/gasc-buys-280k-tons-of-wheat-missing-target-plus-news-from-ekh-tci-sanmar-mb-engineering-egx\/&title=GASC buys 280k tons of wheat, missing target. 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The authority bought five cargoes from Ukraine and Bulgaria for October and November delivery at between USD 259.24-269.25 a ton, including freight.<\/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>ICYMI- <\/strong>The authority last week launched Egypt\u2019s largest wheat tender to date, hoping to secure 3.8 mn tons in a bid to capitalize on a dip in wheat prices. The tender came with a much longer timeframe than usual, requiring bidders to submit offers months in advance for shipments from October to April. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SPEAKING OF WHEAT- That\u2019s a wrap on our local harvest season. <\/strong>The Supply Ministry has secured 3.6 mn tons of Egyptian wheat during the local harvest season, which drew to a close this month, sources at the ministry told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/08\/12\/1816921\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. <\/p><p class=\"tag-border-left\">STARTUPS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new force in the sports tech and data sphere:<\/strong> US-based sports tech company <a target=\"_blank\" href=\"https:\/\/www.hudl.com\/\" style=\"\" rel=\"noopener\">Hudl<\/a> has completed its acquisition of UK-based sports data analytics company <a target=\"_blank\" href=\"https:\/\/statsbomb.com\/\" style=\"\" rel=\"noopener\">StatsBomb<\/a>, it <a target=\"_blank\" href=\"https:\/\/www.businesswire.com\/news\/home\/20240812879329\/en\/Hudl-Strengthens-its-Professional-Sports-Solutions-with-Strategic-Acquisition-of-StatsBomb\" style=\"\" rel=\"noopener\">said<\/a> yesterday. \u201cPairing StatsBomb\u2019s data and statistical models with Hudl\u2019s video capabilities will enable superior match analysis, scouting, and player recruitment,\u201d said StatsBomb CEO Ted Knutson.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why do we care?<\/strong> StatsBomb in 2019 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aff32cb3-37eb-4fc0-809b-2ad2b684c040\/\" style=\"\" rel=\"noopener\">acquired<\/a> homegrown sports data company <a target=\"_blank\" href=\"https:\/\/arqam.agency\/\" style=\"\" rel=\"noopener\">Arqam FC<\/a>, taking it from a local startup to an essential service used by top tier European teams. The acquisition kept founder Ali El Fakharany (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ali-elfakharany-48314992\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) on board as StatsBomb\u2019s VP of product. We had a chat with El Fakharany on his entrepreneurial journey and insights on the startup ecosystem back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/560d4550-7903-4338-9388-2b3e8520b3ef\/\" style=\"\" rel=\"noopener\">October 2023<\/a>, catching up with the innovator following our first interview in <a target=\"_blank\" href=\"https:\/\/enterprise.press\/stories\/2020\/11\/17\/how-arqam-fc-went-from-a-local-luxury-to-a-global-necessity-24742\/\" style=\"\" rel=\"noopener\">November 2020<\/a>.<\/p><p class=\"tag-border-left\">ENERGY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EKH secures additional concession area: <\/strong>Egypt Kuwait Holding (EKH) has reached an agreement with the Oil Ministry to expand the concession areas allotted to its subsidiary North Sinai Petroleum Company and convert it into a development contract, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/987.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/987.pdf\" style=\"\" rel=\"noopener\">pdf)<\/a>. The subsidiary drilled its first exploratory well at its KSE-2 site and kicked off production in June. Production on its second well in the ATON-1 area is expected to start next month. <\/p><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>#1- TCI Sanmar wants to expand its Port Said factory: <\/strong>Indian chemicals producer TCI Sanmar is looking to carry out a USD 150 mn expansion on its VCM and PVC factory in Port Said, Chairman PS Jayaraman said during a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid031sCrqFYtCCTc6NS1DKVwRgBRJZbzh4ZUMUH8eKAmE3ceCqsqLysDn475g46Jf3HBl\" style=\"\" rel=\"noopener\">meeting<\/a> with Transport and Industry Minister Kamel El Wazir. This comes on top of its planned USD 150 mn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7c68370e-8232-47ca-afe6-78837840b378\/%253cmark%253etci%253c%2Fmark%253e-sanmar-to-invest-at-least-usd-160-mn-in-new-loading-terminal-in-egypt\" style=\"\" rel=\"noopener\">loading terminal<\/a> in Port Said to import ethylene. TCI Sanmar has invested some USD 1.5 bn into local factories for polyvinyl chloride (PVC), caustic soda, calcium chloride and green ethylene, making it Egypt\u2019s largest Indian investor. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want more? <\/strong>We spoke with Jayaraman last year for our <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f6744d3a-0573-4965-a6c2-f3f3e1b6cd3a\/our-manufacturer-of-the-month:%253cmark%253e-tci%253c%2Fmark%253e-sanmar\" style=\"\" rel=\"noopener\">Manufacturer of the Month column<\/a>. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- MB Engineering has an EGP 500 mn expansion ahead: <\/strong>MB Engineering has secured a 36k sqm plot in the Sadat City industrial zone where it will carry out an EGP 500 mn expansion plan, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/992.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The expansion will help the company expand its production capacity, diversify its production portfolio, and exploit new technology to raise production efficiency. Work on the expansion will begin sometime in 1H 2025, while operations are expected to begin within 18 months.<\/p><p class=\"tag-border-left\">CAPITAL MARKETS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CI Capital can trade in carbon emissions reduction certificates <\/strong>in the voluntary carbon market after it got the greenlight from the Financial Regulatory Authority, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/1041.jpg\" style=\"\" rel=\"noopener\">EGX bulletin<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The first of many: <\/strong>Officials from seven companies have expressed their intention to apply for the <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\">FRA\u2019s approval<\/a> to trade in carbon emissions reduction certificates and futures contracts in the voluntary carbon market, including Mubasher Financial Services, Arab African International Securities, Bank Audi\u2019s Arabeya Online brokerage, Pioneers Brokerage, and Cairo Financial Holding\u2019s brokerage arm Cairo Capital Securities. <\/p><p class=\"tag-border-left\">EGX-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EGX + ISX:<\/strong> The Egyptian and Iraqi stock exchanges have signed a cooperation protocol aimed at strengthening ties and expanding cooperation, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/1034.pdf\" style=\"\" rel=\"noopener\">EGX bulletin (pdf)<\/a>. The agreement focuses on exchanging expertise and information, enhancing legislative procedures, raising investment awareness, attracting mutual investments, and promoting the transition to a digital economy.<\/p><p class=\"tag-border-left\">M&amp;A-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Giza Arabia acquires majority stake in LABS:<\/strong> Local tech consultancy firm Giza Systems\u2019s Saudi subsidiary Giza Arabia has acquired a majority stake in system, applications, and products (SAP) firm Logical Applications for Business Solutions (LABS), the company said in a <a target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/ae\/news-releases\/giza-arabia-expands-portfolio-with-majority-stake-acquisition-of-logical-applications-for-business-solutions-labs-302219741.html\" style=\"\" rel=\"noopener\">press release<\/a>. The company did not disclose the size of the stake nor the value of the investment.<\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/carbon-trading\/\">carbon trading<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n            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rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mb-engineering\/\">MB Engineering<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/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=\"639677\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider 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format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-planet-finance tag-real-estate tag-tax 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\/.9cb61977-71f6-4163-9ac4-8e9a13f2f58f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Across Europe, rising populism is swinging the pendulum against the tax benefits<\/strong><strong> given to wealthy foreigners.<\/strong> In France, the surprise victory of the left-wing bloc in the country\u2019s recent snap elections has added to fears that a new government might instate the wealth tax scrapped in 2018 by outgoing president Emmanuel Macron. In the UK, the new Labour government has announced that it will dismantle its long-standing non-domiciled tax regime, which allows foreigners who reside in the UK but are considered domiciled in other countries to not pay taxes on their foreign earnings and capital gains for up to ten years. And last week, Giorgia Meloni\u2019s right-wing government in Italy doubled the flat tax it requires foreigners to pay on their income to EUR 200k.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The world\u2019s elite are watching \u2014 and getting their moving boxes ready. <\/strong>According to wealth managers, interstate competition over the super-rich is at an all-time high. A record 128k mn'aires are forecast to relocate this year, up from 120k in 2023, global migration advisory Henley &amp; Partners tells the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/438b3cbf-cd73-4949-87ca-406063079912\" style=\"\" rel=\"noopener\">Financial Times<\/a>. The UK is set to see a 17% decline in mn'aires by 2028, the largest decrease across the world, according to UBS data cited by the FT. While this is in part the product of changing tax laws, it\u2019s also the result of a broader menu of low-tax jurisdictions. Areas like Singapore and Dubai are increasingly competing with the more established money havens of London and Switzerland to lure multimn'aires .<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The shift indexes changes in the structure of international wealth that have been ongoing<\/strong><strong> over the last decade.<\/strong> For one, the decline of banking secrecy has made it significantly more difficult to reside in one\u2019s home country while squirreling wealth away in another. The deep indebtedness of North Atlantic states, particularly following the mass stimulus that followed the Covid-19 pandemic, has made some multimn'aires concerned that governments will soon target their assets to pay down their debts. Sanctions on wealthy Russians and redistributive policies in China are also pushing the hyper-rich to consider greener pastures. At the same time, individuals and families are more mobile than they\u2019ve ever been, with economic and political stability key factors in relocation decisions.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite rising competition and a serious economic downside, <\/strong>European governments are becoming increasingly leery of the optics of offering generous tax breaks to rich foreigners. Such policies have been blamed for soaring real estate prices in low-tax jurisdictions like Milan and London \u2014 one of a number of economic distortions that negatively impact local residents. Despite the wealth and spending that elites bring, tax incentives are difficult to justify \u201cbecause at the end of the day you\u2019re giving a favor to rich people,\u201d one tax advisor told the salmon-colored paper.<\/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 this morning<\/strong>, with the Nikkei leading the gainers on its first day back after the long weekend \u2014 the benchmark is up 2.4%. The Hang Seng is up 0.3%, while the Kospi is bucking the trend, dipping 0.1%. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- <\/strong>US stock futures remained more or less flat as investors sit tight awaiting key inflation data due tomorrow. <\/p><p><a target=\"_blank\" id=\"t.85cb7239a452220eae7d1d73afc417e3cd170d0a\" 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\">29,707<\/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: +19.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 49.24<\/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 49.38<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB)<\/strong><\/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 49.25<\/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 49.35<\/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-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>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\">11,741<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: -1.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,215<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.0% (YTD: -3.8%)<\/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>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\">4,201<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +3.5%)<\/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>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\">5,345<\/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: +12.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,210<\/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: +6.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,672<\/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: +3.3%)<\/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>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 81.88<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.8%<\/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>Natural gas (Nymex) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.17<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,512<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.6%<\/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>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 59,204<\/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: +40.2%)<\/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 0.6% at yesterday\u2019s close<\/strong> on turnover of EGP 5.1 bn (43.1% above the 90-day average). Local investors were net buyers. The index is up 19.3% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Elsewedy Electric (+9.0%), E-finance (+1.9%), and CIB (+1.7%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Emaar Misr (-3.6%), ADIB (-3.0%), and Alexandria Containers and Cargo Handling (-2.5%). <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"639679\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">10<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/climate-change-is-already-affecting-egyptian-businesses-in-a-big-way\/\">\r\n                            Climate change is already affecting Egyptian businesses in a big way<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/climate-change-is-already-affecting-egyptian-businesses-in-a-big-way\/\" 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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Unfortunately, this is particularly true for Egypt with record-breaking heatwaves this summer laying bare the threat that rising temperatures pose to many of Egypt\u2019s main economic sectors. The country\u2019s agriculture, fishing, tourism, fertilizers, and manufacturing industries have already been making the headlines as businesses and the government looks for ways to adapt to this new hotter reality.<\/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>Higher temperatures are squeezing the agriculture sector\u2019s water supplies: <\/strong>With an already scorching summer that saw temperatures in the Aswan <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7fe61035-3dee-4689-b4ac-a16e1e47a73a\/el-sisi-meets-his-azerbaijani-counterpart-to-discuss-gaza,-trade,-and-tensions-with-armenia\" style=\"\" rel=\"noopener\">neared 50\u00b0C<\/a> in early June before summer had properly kicked off, the country\u2019s farms are having to use much more water than they have in previous years. Rising temperatures necessitate more frequent irrigation and an increase of water quantities by about 10-15% \u2014 or occasionally up to 20% \u2014 for the agricultural sector, which consumes 80% of Egypt's already scarce water resources, the head of the Agriculture Ministry\u2019s Climate Change Information Centre, Mohamed Fahim told Enterprise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hotter than usual summers are also reducing crop yield and quality: <\/strong>Rising temperatures are not just reducing crop yields, but are also speeding up the rate that crops mature and having a detrimental effect on the quality of the produce. These challenges present not only the challenge of farmers harvesting much less than they had hoped and having to try to balance the books, but also introduces unpredictability that disrupts supply networks. Mangos, for instance, ripened faster than expected this summer due to higher temperatures, which led to supply disruptions and farmers incurring losses as the season wrapped up much earlier than they had planned.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve seen this process slowly playing out for many years: <\/strong>Between 2010 and 2021, vegetable yields fell by about 20%, dropping to 12.1 mn tons from 15.1 mn tons, according to data from Capmas. Some crops have been more affected than others, including potatoes, whose yield per acre is down 25-35% over the last decade to 13-15 tons per feddan, head of the General Syndicate of Egyptian Farmers, Farid Wasil, told Enterprise. Tomatoes have also suffered a similar fate, with a large percentage lost during ripping and following harvesting, Wasil added. Drops in agricultural output have also been reflected in rising prices as demand outpaces supply.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Evidence of a drop in crop yields can be seen on the dining table: <\/strong>Vegetable consumption per capita has declined by over 45%, falling to 72.5 kg in 2021 from 133.5 kg in 2010, according to an academic <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/240.pdf\" style=\"\" rel=\"noopener\">study<\/a> from Cairo University faculty.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Many point to the summer of 2021 as the watershed moment for the agricultural sector:<\/strong> Although farmers had been battling rising temperatures for many years and recording drops in outlet, the summer of 2021 saw <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/da9d49d4-ce08-47b8-8f42-77ec588fd0af\/climate-change-is-having-a-visible-effect-on-egyptian-agriculture\" style=\"\" rel=\"noopener\">severe declines in the yields of olive groves and mango farms<\/a> during the first half of the year \u2014 the worst witnessed in decades. This was a wake up call for many of how vulnerable Egypt and its produce sector is to rising temperatures, pushing both the public and private sectors to take the issue seriously.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alongside a global campaign to limit global warming, part of the solution for farmers is to<\/strong><strong> adapt to longer and hotter summers: <\/strong>One important way that farmers can protect themselves against rising temperatures is to use new crop varieties that are more climate resistant, Fahim tells us. There are new crop varieties better suited to deal with earlier summers and later winters, which have become common in Egypt, and the Agriculture Ministry has also been working to develop crop varieties with greater resilience to long summer seasons, Fahim told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A drop in output in the fishing industry can also be attributed to climate change: <\/strong>Egypt\u2019s fish production fell by 12k tons to reach 168.5 tons between 2020 and 2022 \u2014 a drop that can be attributed to the effects of climate change, Lakes and Fish Resources Protection and Development Agency head Salah Moselhy told Enterprise. Water shortages and rising sea levels have had a strong impact on our fisheries, especially due to the lack of awareness over how to deal with these changes. Fishermen have also recorded smaller catches, with the amount of fish caught along the country\u2019s Mediterranean coast alone <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e239b08a-9457-4866-83db-d70f43afffe9\/fishermen-are-upping-their-sustainability-and-food-safety-game-to-reopen-eu-exports\" style=\"\" rel=\"noopener\">declining nearly 50%<\/a> between 2011 and 2019, according to environmental researcher Myriam Khalfallah.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The industrial sector has recently been feeling the pinch:<\/strong> An unusually hot summer that stretched energy supplies contributed to rolling blackouts that disrupted economic activity up and down the country. Some industries had it harder than others, with factories in the steel, livestock, food production, petrochemicals, and fertilizers industries <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/36967d9b-1184-4816-a664-5b3862319684\/power-cuts-and-gas-shortages-compound-egypt%25e2%2580%2599s-industry-woes\" style=\"\" rel=\"noopener\">facing operational disruptions and even complete shutdowns<\/a> as gas shortages led to companies temporarily closing down operations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fertilizer and petrochemical sectors were the most affected:<\/strong> Several fertilizer plants were forced to halt operations on multiple occasions this summer for periods that lasted for up to two weeks due to gas supply cuts. Reduced production and limited supply in turn drove up fertilizer prices, which could potentially have a serious effect on the prices of Egyptian crops and how Egyptian farmers balance the books for the season, Naeem Brokerage\u2019s associate vice president of research, Youssef El Banna, told Enterprise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the tourism industry is yet to really feel the heat: <\/strong>There has been limited impact on the tourism sector so far, as the heatwaves have extended to other countries across the Mediterranean and in Europe at large to varying degrees. \"It\u2019s unlikely that there will be a significant impact on Egypt as an attractive destination for tourists due to this heatwave,\" Jaz Hotel Group CEO Alaa Akel told Enterprise. The variety of Egypt\u2019s tourist destinations means that hotter areas like Luxor and Aswan see more bookings in the winter, while the bookings shift to areas along the Red Sea and the Mediterranean during the summer. <\/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 green economy stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Local union lobbies gov\u2019t to revoke Red Sea fishing ban: <\/strong>The <a target=\"_blank\" href=\"https:\/\/kenanaonline.com\/users\/fisherman\/most_visited_photos\" style=\"\" rel=\"noopener\">Cooperative<\/a><a target=\"_blank\" href=\"https:\/\/kenanaonline.com\/users\/fisherman\/most_visited_photos\" style=\"\" rel=\"noopener\">Union of Egyptian Water Resources<\/a> has submitted a memo to the government opposing a five-year ban on fishing in the Red Sea. (<a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/08\/10\/1816307\" style=\"\" rel=\"noopener\">Al Borsa<\/a>)<\/li>\n<li><strong>The Environmental and Climate Policy Committee held its first session<\/strong> on Saturday. The new body aims to guide the country\u2019s green transition, setting objectives, responsibilities, and collaboration across sectors in order to facilitate international financing for Egypt's green initiatives. (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0yk8DaMwjqHbRU43XcyWXBbweyKSJcBxCjJNw7R3Xtf3LgHAaAJdysFtjwEsMLosBl\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<li><strong>NREA allocates land for renewables plants: <\/strong>The New and Renewable Energy Authority (NREA) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9159a4f4-d428-4edc-9ad9-1a4d19e02d73\/%3cmark%3e%3c\/mark%3epolaris%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3eparks%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3eis%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3eset%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3eto%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3einvest%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3eegp%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3e5%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3ebn%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3ein%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3enew%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3eindustrial%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3ecomplexes%3cmark%3e%3c\/mark%3e.%3cmark%3e%3c\/mark%3e%3cmark%3e%3c\/mark%3eplus%3cmark%3e%3c\/mark%3e:%3cmark%3e%3c\/mark%3e%3cmark%3e%3c\/mark%3enews%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3efrom%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3esaudi%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3edrilling%3cmark%3e%3c\/mark%3e-&%3cmark%3e%3c\/mark%3e%3cmark%3e%3c\/mark%3eexploration%3cmark%3e%3c\/mark%3e,%3cmark%3e%3c\/mark%3e%3cmark%3e%3c\/mark%3ejade%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3etextile%3cmark%3e%3c\/mark%3e,%3cmark%3e%3c\/mark%3e%3cmark%3e%3c\/mark%3eeehc%3cmark%3e%3c\/mark%3e\" style=\"\" rel=\"noopener\">has allocated land plots<\/a> spanning 31k km for investors looking to set up renewable energy projects. <\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"639681\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/13\/639681\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-639681\" class=\"content-area-description single-story post-639681 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>10-12 October (Thursday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egyhealthexpo.com\/\" style=\"\">Egy Health Expo<\/a><\/span><span>, 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: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>Logistics zone | Competing for the wealthy | EU investments | Impact of climate change.<\/p>\n","protected":false},"featured_media":639657,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-639656","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"42f39b5f-4255-49ee-8042-b5810000ed4d","teaser":"Logistics zone | Competing for the wealthy | EU investments | Impact of climate change.","photo_url":"https:\/\/ent.news\/2024\/8\/1070.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>We could get our very own USD 150 mn fixed regasification unit - 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\/we-could-get-our-very-own-usd-150-mn-fixed-regasification-unit\/\" \/>\n<meta property=\"og:locale\" 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