{"id":640078,"date":"2024-08-20T00:00:00","date_gmt":"2024-08-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=640078"},"modified":"2025-12-17T16:52:46","modified_gmt":"2025-12-17T16:52:46","slug":"govt-reportedly-begins-implementing-new-electricity-tariffs-reports","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/govt-reportedly-begins-implementing-new-electricity-tariffs-reports\/","title":{"rendered":"Gov\u2019t reportedly begins implementing new electricity tariffs -reports"},"content":{"rendered":"<section id=\"640080\" 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=\"640080\">\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\/20\/egp-2-coin-to-launch-by-2025\/\">\r\n                            EGP 2 coin to launch by 2025                        <\/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\/20\/egp-2-coin-to-launch-by-2025\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-image-meta=\"[]\" data-image-title=\"1711.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1711.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1711.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-640080\" class=\"content-area-description single-story post-640080 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-egp tag-enterpriseam tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.10514bae-7990-4a79-a674-051279d4f5e3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, folks<\/strong><strong>. <\/strong>With temperatures on the up once again, you might be tempted to crank up the AC, but be warned that more unconfirmed reports are circulating that electricity bills will soon increase by 14-40%.<\/p><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 heating up in Cairo today<\/strong>, with a high of 37\u00b0C and a low of 26\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s only slightly cooler in Alexandria and along the North Coast<\/strong>, with a high of 35\u00b0C and a low of 24\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p 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>Attention, prospective<\/strong><strong> university students (and their parents): <\/strong>The second phase of tansik \u2014 the public university enrollment system \u2014 will <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02sif2vBvsrYbQir298KJBT7L5GAn1k64eW94rNScvSyCQNqviRUHvp6eRi8yNoHEkl?rdid=qr10K690tlWUZa6g\" style=\"\" rel=\"noopener\">launch today<\/a> and run until Saturday. Students hoping to apply in the second phase will need to have scored at least 64.64% in the sciences and 56.09% for literature.<\/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- Could we finally see the EGP 2 coin? <\/strong>The government is preparing to launch the EGP 2 coin before the end of the fiscal year ending 2025, <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/AsharqbEGY\/posts\/pfbid02A3BWbAkqJbYtWjSrjW6pCmciMBmg1n4UmMnskt3FiioJNSVgopeP3pspt7obA7nnl\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing unnamed sources. The state has wrapped up all the required procedures for minting and issuing the coin and is awaiting the final greenlight from the central bank and the cabinet. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve been waiting for years now: <\/strong>The cabinet first <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5ffcc7b9-e0a3-4662-bd66-e89dc5c939de\/an-egp-2%253cmark%253e-coin%253c%2Fmark%253e-will-be-in-circulation-soon-%2B-is-global-blue-coming-to-egypt%3F\" style=\"\" rel=\"noopener\">introduced<\/a> the idea of an EGP 2 coin in 2022. <\/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- No can do, Lebanon:<\/strong> An anonymous Egyptian official rejected reports that Lebanon was due to receive a shipment of LNG from Egypt by 23 August and added that the country does not even have the facilities to \u201creceive liquefied fas in the first place,\u201d in comments to <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/economics\/51501\/%D9%85%D8%B3%D8%A4%D9%88%D9%84-%D9%84%D8%A7-%D8%B4%D8%AD%D9%86%D8%A7%D8%AA-%D8%BA%D8%A7%D8%B2-%D9%85%D8%B3%D8%A7%D9%84-%D8%A5%D8%B6%D8%A7%D9%81%D9%8A%D8%A9-%D9%84%D8%AF%D9%89-%D9%85%D8%B5%D8%B1-%D9%84%D8%A5%D8%B1%D8%B3%D8%A7%D9%84%D9%87%D8%A7-%D8%A5%D9%84%D9%89-%D9%84%D8%A8%D9%86%D8%A7%D9%86\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The confusion followed statements from Lebanon\u2019s energy minister that came after the country\u2019s state electricity company <a target=\"_blank\" href=\"https:\/\/www.nna-leb.gov.lb\/en\/politics\/715160\/edl-says-zahrani-power-plant-s-last-production-uni\" style=\"\" rel=\"noopener\">ran out of fuel<\/a>, which led to a total blackout across the country and the disruptions to airports, ports, sewage and water systems, and other essential facilities.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"http:\/\/finance2024.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1433.jpg?ssl=1\"><\/a> <\/p><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#1- A new platform for local exporters is coming in October: <\/strong>EBank is set to launch a digital platform for small- and medium-sized exporters next October, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d8%a8%d9%86%d9%83-%d8%aa%d9%86%d9%85%d9%8a%d8%a9-%d8%a7%d9%84%d8%b5%d8%a7%d8%af%d8%b1%d8%a7%d8%aa-%d8%a5%d8%b7%d9%84%d8%a7%d9%82-%d9%85%d9%86%d8%b5%d8%a9-%d9%84%d8%aa%d8%b4%d8%a8%d9%8a%d9%83-%d8%b5\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports, citing Strategic Planning Director Yasmine El Hosseiny. The platform will connect exporters with international importers, providing them with access to over 12 international banks, 25k clients, and a slew of suppliers to facilitate trade and boost exports. It\u2019s set to onboard 400 exporters in the first phase and targets 1.5k exporters within the first year of its launch.<\/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=\"wwtt5\"><\/a> <strong>#2- A conference on all things finance is coming to Cairo in two months\u2019 time:<\/strong> <a target=\"_blank\" href=\"https:\/\/finexpo.org\/\" style=\"\" rel=\"noopener\">FinExpo<\/a> will host a conference and exhibition focused on online trading, financial markets, and fintech innovations in Egypt in Cairo from October 10-12, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/1718.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The event \u2014 which will bring together investors, NBFIs, banks, fintech firms, and other entities \u2014 will showcase the latest trends in fintech and feature in-depth analysis of the EGX, seminars on financial derivatives soon to be introduced to the Egyptian market, discussions on global market trends and interest rate projections, and much more.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><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\">THE BIG STORY ABROAD-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Democratic National Convention is front and center across the front pages of the <\/strong><strong>international press this morning<\/strong>, as US President Joe Biden passes the torch to his vice president and Democratic presidential candidate Kamala Harris. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Among those making appearances at the DNC in Chicago:<\/strong> Biden took to the stage to hand off the convention to Harris and her running mate Tim Walz, while a host of other Senate and Congress members, and other political figures also had time on stage. Former presidential candidate Hillary Clinton is also in today\u2019s lineup, while each night of the convention is scheduled to feature a celebrity host. Harris herself also made a surprise on-stage appearance, despite not originally being scheduled to speak today. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Harris is starting to give shape to her vision as president, starting with plans to raise the <\/strong><strong>corporate tax rate to 28%<\/strong>, partially rolling back a Trump-era decision to slash the tax rate to 21% from 35%. The tax hike would, if implemented, raise USD hundreds of bns that will be necessary to help finance the presidential hopeful\u2019s plans in office. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/elections\/democratic-national-convention-live-2024-08-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-08-19\/biden-cedes-dnc-limelight-to-harris-with-early-speech-vacation?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/77841ed0-f2d2-4fea-a957-dd0b78a371c1\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/08\/19\/harris-proposes-raising-the-corporate-tax-rate-to-28percent-rolling-back-a-trump-law.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.politico.com\/live-updates\/2024\/08\/19\/dnc-live-updates-coverage\/kamala-harris-surprise-speech-dnc-day-one-00174839\" style=\"\" rel=\"noopener\">Politico<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/dnc-election-2024-harris-walz\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/elections\/2024\/08\/19\/democratic-national-convention-harris-trump-election-updates\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2024\/08\/19\/us\/dnc-harris-trump-election\" style=\"\" rel=\"noopener\">New York Times<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Israeli Prime Minister Benjamin Netanyahu has accepted a \u201cbridge<\/strong><strong> proposal\u201d for a ceasefire<\/strong> in Israel\u2019s war on Gaza, US Secretary of State Antony Blinken told reporters yesterday, according to <a target=\"_blank\" href=\"https:\/\/www.state.gov\/secretary-antony-j-blinken-remarks-to-the-press-27\/\" style=\"\" rel=\"noopener\">a readout of his remarks<\/a>. Blinken urged Hamas to accept the proposal, citing \u201cfierce urgency\u201d to reach an agreement between the two sides to prevent further bloodshed and destruction. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/blinken-warns-israel-hamas-best-last-chance-end-gaza-war-2024-08-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/08\/19\/world\/middleeast\/israel-cease-fire-proposal-hamas-blinken.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/30bcc096-fb68-4c59-8681-cff779243e1c\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-08-19\/blinken-says-israel-accepts-cease-fire-and-hamas-must-say-yes\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>Blinken is heading to Cairo next, where he is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.state.gov\/secretary-blinkens-travel-to-israel\/\" style=\"\" rel=\"noopener\">expected<\/a><\/strong><strong> to land today<\/strong> to discuss next steps on the ceasefire talks between Israel and Hamas. Blinken will fly from Israel as part of a four-day trip that marks his ninth visit to the region since Israel\u2019s war on Gaza began. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Senior government officials from Egypt, Qatar, and the US are set to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d204a1fd-9995-49e1-9fe0-0d8450b5e740\/\" style=\"\" rel=\"noopener\">reconvene<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d204a1fd-9995-49e1-9fe0-0d8450b5e740\/\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d204a1fd-9995-49e1-9fe0-0d8450b5e740\/\" style=\"\" rel=\"noopener\">in Cairo<\/a> before the end of the week in a bid to finalize an agreement based on the proposal presented in Doha last week.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/239.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We break down the government\u2019s new national low carbon hydrogen strategy, which maps out how the country can achieve its ambitious goal of capturing between 5-8% of the global hydrogen market by 2040.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egp\/\">EGP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"640082 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n   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world-class golf courses, embraced by the tranquil allure of the Red Sea. #SummerStoriesBegin #OneParadiseAllSeasons #SomabayRedSea<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"640083\" 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=\"640083\">\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\/20\/households-are-already-being-charged-higher-electricity-prices-reports\/\">\r\n                            Higher consumption households are already being charged 40% more for electricity -Electricity Ministry sources                        <\/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\/20\/households-are-already-being-charged-higher-electricity-prices-reports\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1710.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"640084\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/20\/households-are-already-being-charged-higher-electricity-prices-reports\/1710-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1710.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1710.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1710.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1710.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-640083\" class=\"content-area-description single-story post-640083 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-electricity-ministry tag-energy tag-enterpriseam 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\/.d40bcf15-99a9-42a4-b29a-32daadc0a8b7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>It might be time to turn down the AC: <\/strong>The Electricity Ministry has reportedly begun implementing hikes that will see household electricity prices rising by 14-40%, ministry sources told media outlets (<a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4330663\/%D9%85%D9%88%D8%B9%D8%AF-%D8%AA%D8%B7%D8%A8%D9%8A%D9%82-%D9%88%D9%86%D8%B3%D8%A8-%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1-%D9%84%D9%84%D9%85%D9%86%D8%A7%D8%B2%D9%84-%D9%88-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D9%8A-%D9%88-%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D9%8A-\/\" style=\"\" rel=\"noopener\">here<\/a>, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/08\/19\/%D9%85%D8%B5%D8%A7%D8%AF%D8%B1-%D9%84%D9%80-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D9%85%D8%B5%D8%B1-%D8%AA%D8%B1%D9%81%D8%B9-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%B4%D8%B1%D8%A7%D8%A6%D8%AD-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D8%A8%D9%86%D8%B3%D8%A8-%D8%AA%D8%B5%D9%84-%D8%A7%D9%84%D9%89-40-\" style=\"\" rel=\"noopener\">here<\/a>, and <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1825597359423668513\" style=\"\" rel=\"noopener\">here<\/a>). The hikes have reportedly come into effect for those in the highest consumption bracket using prepaid meters \u2014 with brackets below this to follow soon \u2014 while those billed monthly will see these increases reflected in their bills starting September. This marks the second round of electricity price increases this year, following earlier hikes in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/en\/egypt\/news\/story\/6468a17b-84c3-4eff-be44-5ad1a59c8a21\" style=\"\" rel=\"noopener\">January<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We knew this was coming:<\/strong> A ministry source earlier this week <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1a1a4531-1fa7-400d-9dd1-1e485d4d6911\/\" style=\"\" rel=\"noopener\">told us<\/a> that the ministry was on track to raise prices by an average of 30% in September following cabinet approval, with higher consumption households set for larger increases and lower consumption households in line for smaller price hikes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But we\u2019re still yet to hear anything official on the matter: <\/strong>Although unconfirmed reports allege that some of the new tariffs are already being out in place for customers on prepaid meters, there\u2019s so far been radio silence from official channels.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown: <\/strong>Here\u2019s the new leaked electricity tariffs for households:<\/p>\n<ul>\n<li><strong>Tier 1:<\/strong> 0-50 kWh\/month will be charged EGP 0.68 per kWh, up 17.2% from EGP 0.58<\/li>\n<li><strong>Tier 2:<\/strong> 51-100 kWh\/month will be charged EGP 0.78 per kWh, up 14.7% from EGP 0.68<\/li>\n<li><strong>Tier 3:<\/strong> 101-200 kWh\/month will be charged EGP 0.95 per kWh, up 14.5% from EGP 0.83 <\/li>\n<li><strong>Tier 4:<\/strong> 201-350 kWh\/month will be charged EGP 1.55 per kWh, up 24.0% from EGP 1.25 <\/li>\n<li><strong>Tier 5:<\/strong> 350-650 kWh\/month will be charged EGP 1.95 per kWh, up 39.3% from EGP 1.40 <\/li>\n<li><strong>Tier 6:<\/strong> 650-1k kWh\/month will be charged EGP 2.10 per kWh, up 40% from EGP 1.50<\/li>\n<li><strong>Tier 7:<\/strong> Above 1k kWh\/month will be charged EGP 2.23 per kWh, up 35.2% from EGP 1.65<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The commercial and industrial sectors will also see price hikes<\/strong>, reportedly ranging from 23.5-46% and 21.2-31%, respectively, from the beginning September.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale behind the timing:<\/strong> Earlier this summer, an Electricity Ministry source <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e71493a-fde3-4dfc-b0e9-286632532659\/%253cmark%253eelectricity%253c%2Fmark%253e-bill-hikes-put-on-hold-until-september--%253cmark%253eelectricity%253c%2Fmark%253e-ministry-source\" style=\"\" rel=\"noopener\">told us<\/a> that the government had decided to postpone any hikes to electricity prices to September, pushing back the hikes until it resolves the electricity crisis. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Playing by the IMF\u2019s rulebook:<\/strong> Adjusting energy prices is part of the structural reforms mandated by the International Monetary Fund under our USD 8 bn loan in a bid to \u201ccreate space for more productive spending,\u201d the Fund said in a <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2024\/07\/29\/pr24293-egypt-imf-exec-board-completes-3rd-rev-extended-arr-eff\" style=\"\" rel=\"noopener\">statement<\/a> announcing the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b783a33c-54f4-403e-bbb3-d45168e55bab\" style=\"\" rel=\"noopener\">completion of the third loan review<\/a> last month. \u201cRestoring energy prices to their cost recovery levels, including retail fuel prices by December 2025, is essential to supporting the smooth provision of energy to the population and reducing imbalances in the sector,\u201d it said. The government is working on a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/144e0e2f-276a-429d-a414-0b2427177e53\/egypt%25e2%2580%2599s-madbouly-hints-at-pricier-bread,-fuel,-electricity\" style=\"\" rel=\"noopener\">plan to phase out electricity subsidies<\/a> over the course of the next four years.<\/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\/electricity-ministry\/\">Electricity Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- 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   \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/20\/foreign-investments-in-egypts-t-bills-were-up-again-in-may-for-third-consecutive-month-following-egp-float\/\">\r\n                            Foreign investments in Egypt\u2019s t-bills were up again in May for third consecutive month following EGP float                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1700.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"640087\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/20\/foreign-investments-in-egypts-t-bills-were-up-again-in-may-for-third-consecutive-month-following-egp-float\/1700-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1700.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1700.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1700.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1700.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-640086\" class=\"content-area-description single-story post-640086 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-bonds tag-central-bank-of-egypt tag-debt tag-debt-watch tag-enterpriseam tag-treasuries 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\/.e7802b62-1d8d-4937-8820-7d4f929c2ce8.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Foreign investments in local debt rise in May: <\/strong>Foreign investments in Egypt\u2019s t-bills sat at USD 37.5 bn (EGP 1.8 tn) by the end of May, up USD 2.5 bn from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4a4e2053-1456-4ed4-a15a-afc1361e5df4\/foreign-investments-in-egypt%25e2%2580%2599s%253cmark%253e-t-bills%253c%2Fmark%253e-were-up-in-april\" style=\"\" rel=\"noopener\">USD 35.2 bn (EGP 1.7 tn) in April<\/a>, according to the central bank\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/1665.pdf\" style=\"\" rel=\"noopener\">monthly statistical bulletin (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Investors have been loving Egypt\u2019s short-term debt instruments post-float, with their confidence affirmed after the likes of JPMorgan and Citigroup recommended buying one-year EGP t-bills.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But we\u2019re not sure if the trend will persist: <\/strong>Earlier this month, foreign investors sold some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9a7a23c7-3658-4a49-8278-36e297c2b83d\/global-markets-meltdown-hit-home-%25e2%2580%2594-the-egp-hit-six-month-lows%5C\" style=\"\" rel=\"noopener\">USD<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9a7a23c7-3658-4a49-8278-36e297c2b83d\/global-markets-meltdown-hit-home-%25e2%2580%2594-the-egp-hit-six-month-lows%5C\" style=\"\" rel=\"noopener\">600 mn<\/a> worth of local debt instruments \u2014 7-8% of total foreign investment in the market, according to Prime Minister Moustafa Madbouly \u2014 amid a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6a1e10d9-835b-4ad3-8b82-5aa6800ad69f\/global-markets%253cmark%253e-meltdown%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">global sell-off<\/a> that wiped USD 6.4 tn from global stock markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The CBE has since auctioned off fresh debt instruments: <\/strong>The central bank auctioned off fresh EGP-denominated t-bills between Thursday and Sunday, which raised a combined EGP 71.0 bn, according to data from the bank. The bank does not disclose how much of the amount raised came from foreign investors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yields on three-month t-bills hit a fresh five-month high: <\/strong>The three-month t-bills sold had an average yield of 29.06% \u2014 their highest since mid-March when the economy was still finding its footing after the float of the EGP and the bank needed to auction off bills at extremely high yields to reel investors in.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And there\u2019s a lot more to come: <\/strong>The bank will be issuing t-bills with tenors of three, six, nine, and twelve months a week from today. The bank is looking to raise EGP 115 bn from the auctions. <\/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\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/treasuries\/\">treasuries<\/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=\"640088\" 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=\"640088\">\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\">Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/20\/govt-still-on-track-to-secure-3-8-mn-tons-of-wheat-by-years-end-says-supply-minister\/\">\r\n                            Egyptian gov\u2019t still on track to secure 3.8 mn tons of wheat by year\u2019s end, says supply minister                        <\/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\/20\/govt-still-on-track-to-secure-3-8-mn-tons-of-wheat-by-years-end-says-supply-minister\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The purchase may involve direct cooperation with a foreign government, Farouk added. This comes a week after the government\u2019s largest wheat tender to date fell short of its target and follows reports that it is currently in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b829ddbb-1767-4eb3-b38f-d9121dae41ce\/\" style=\"\" rel=\"noopener\">discussions<\/a> to purchase up to 1.8 mn tons of wheat from international suppliers through direct orders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>State grains buyer GASC last week <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c7d5003c-c3c1-41a8-94b0-e1233f99cb4a\/\" style=\"\" rel=\"noopener\">purchased 280k tons of wheat<\/a> in a tender that aimed to secure some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21340043-4153-493c-b299-be6b09b9e480\/our-biggest-wheat-tender-to-date\" style=\"\" rel=\"noopener\">3.8 mn tons<\/a>, locking in just c. 7% of its target. The tender was launched to capitalize on a dip in wheat prices, seeking to procure nearly a third of the country\u2019s yearly requirement of the grain. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Imports from Turkey could help fill the gap: <\/strong>GASC is looking into importing wheat from Turkey and is exploring other sources, <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/financial-markets\/51482\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%A8%D8%AD%D8%AB-%D8%A7%D8%B3%D8%AA%D9%8A%D8%B1%D8%A7%D8%AF-%D8%A7%D9%84%D9%82%D9%85%D8%AD-%D9%85%D9%86-%D8%AA%D8%B1%D9%83%D9%8A%D8%A7\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing GASC Deputy Chairman Hossam El Garhy. However, Turkey is not a major wheat exporter and still needs to import 8-9 mn tons annually to cover its own needs, a GASC wheat supplier told Enterprise. Egypt imported a meager c. 7.1k tons of wheat from Turkey over the first seven months of the year \u2014 compared to none during the same period last year \u2014 a source at the Supply Ministry told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re hoping to get special treatment: <\/strong>Egypt should be granted preferential payment terms and prices on its wheat imports seeing as it is the world\u2019s largest importer of the grain, Al Arabiya quoted Farouk as saying. However, a GASC supplier told Enterprise they questioned whether this is possible because Egyptian wheat tenders immediately impact global prices once they are launched.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pulse check on the country\u2019s strategic reserves: <\/strong>Egypt has a 6.3-month supply of strategic wheat reserves, El Garhy said. The Supply Ministry aims to bolster these reserves to cover more than nine months of consumption, Supply Minister Sherif Farouk told <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1825476600927781291\" style=\"\" rel=\"noopener\">Asharq Business<\/a> separately.<\/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\/gasc\/\">GASC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-ministry\/\">Supply Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"640090 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=\"640090\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/20\/640090\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-640090\" class=\"content-area-description single-story post-640090 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.global\/en\/locations\/Egypt\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/674.png?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"640091\" 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=\"640091\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/20\/hassan-abdalla-gets-another-year-as-cbe-governor\/\">\r\n                            Hassan Abdalla gets another year as Central Bank of Egypt governor                        <\/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\/20\/hassan-abdalla-gets-another-year-as-cbe-governor\/\" 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\/20\/hassan-abdalla-gets-another-year-as-cbe-governor\/')\">\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\/20\/hassan-abdalla-gets-another-year-as-cbe-governor\/\">\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=Hassan Abdalla gets another year as CBE governor&url=https:\/\/enterpriseam.com\/egypt\/2024\/08\/20\/hassan-abdalla-gets-another-year-as-cbe-governor\/\">\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\/20\/hassan-abdalla-gets-another-year-as-cbe-governor\/&title=Hassan Abdalla gets another year as CBE governor\">\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=Hassan+Abdalla+gets+another+year+as+CBE+governor+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F08%2F20%2Fhassan-abdalla-gets-another-year-as-cbe-governor%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\/20\/hassan-abdalla-gets-another-year-as-cbe-governor\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1702.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"640092\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/20\/hassan-abdalla-gets-another-year-as-cbe-governor\/1702-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1702.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1702.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1702.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1702.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-640091\" class=\"content-area-description single-story post-640091 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-b-investments tag-central-bank-of-egypt tag-enterpriseam tag-hassan-abdalla tag-moves 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\/.cc5e3fb4-9398-40ed-97f7-10b773f32390.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- Another year for Abdalla as CBE governor: <\/strong>President Abdel Fattah El Sisi has reappointed Hassan Abdalla as the acting governor of the Central Bank of Egypt (CBE) for another one-year term, according to a decree published in the Official Gazette. Abdalla has been the governor of the central bank since he <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cc358ff9-00be-4503-bee9-00159279bfb6\" style=\"\" rel=\"noopener\">took over from Tarek Amer in 2022<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Continuity is the name of the game: <\/strong>The decision to keep Abdalla at the helm of the central bank is meant to \u201creassure investors the North African nation is committed to orthodox policies,\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-08-19\/egypt-extends-central-banker-s-rule-in-sign-of-policy-continuity\" style=\"\" rel=\"noopener\">Bloomberg<\/a> writes.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- New faces on <\/strong><strong>Orascom Financial<\/strong><strong>\u2019s board: <\/strong>B Investments Managing Director Abdel Monem Omran has been appointed chairman of Orascom Financial Holding (OFH) and B Investments Board Member Mostafa El Anwar was appointed his deputy, the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/1681.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>B Investments now owns just under <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/06c1b449-2601-4a3a-8415-e439ad2273ec\/b-investments-to-soon-snap-up-a-70%2525-stake-in%253cmark%253e-orascom-financial%253c%2Fmark%253e-holding.-plus:-al-ahly-capital-holding-acquires-51%2525-stake-in-easy-lease\" style=\"\" rel=\"noopener\">70% of OFH<\/a> after the completion of a share swap agreement in April. <\/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\/b-investments\/\">B Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hassan-abdalla\/\">Hassan Abdalla<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"640093 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=\"640093\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/20\/640093\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-640093\" class=\"content-area-description single-story post-640093 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=\"640094\" 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=\"640094\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/20\/a-potential-shakeup-to-food-subsidies-caught-the-attention-of-the-nations-talking-heads\/\">\r\n                            A potential shakeup to food subsidies caught the attention of the nation's talking heads                        <\/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\/20\/a-potential-shakeup-to-food-subsidies-caught-the-attention-of-the-nations-talking-heads\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/20\/a-potential-shakeup-to-food-subsidies-caught-the-attention-of-the-nations-talking-heads\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1739.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"640095\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/20\/a-potential-shakeup-to-food-subsidies-caught-the-attention-of-the-nations-talking-heads\/1739-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1739.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1739.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1739.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1739.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-640094\" class=\"content-area-description single-story post-640094 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-commodities tag-enterpriseam tag-food tag-last-nights-talk-shows tag-subsidies wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.a6a00e6a-a7b3-4fc9-b080-8b4391e32422.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> S<\/strong><strong>ubsidies led the discu<\/strong><strong>ssion on last night\u2019s talk shows<\/strong>, with the nation\u2019s talking heads honing in on statements made by Supply Minister Sherif Farouk on government plans to restructure subsidies for a handful of essential commodities at a presser yesterday. The changes received ample airtime on Ala Mas\u2019ouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=pt9AYaSL7fs\" style=\"\" rel=\"noopener\">watch, runtime: 40:08<\/a>) and Salet El Tahrir (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=3xHw9fMkXrM\" style=\"\" rel=\"noopener\">watch, runtime: 7:08<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Government to cut rations of subsidized sugar: <\/strong>The Supply Ministry will <a target=\"_blank\" href=\"https:\/\/gate.ahram.org.eg\/News\/4952954.aspx\" style=\"\" rel=\"noopener\">halt the distribution<\/a><a target=\"_blank\" href=\"https:\/\/gate.ahram.org.eg\/News\/4952954.aspx\" style=\"\" rel=\"noopener\">of additional quantities<\/a> of subsidized sugar via ration cards from the beginning of September, reverting to the standard two-kilogram allocation in a bid to prevent additional sugar from reaching the black market. The ministry had increased sugar rations earlier this year in response to the worsening sugar shortage.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sugar price hikes could be on the way: <\/strong>The ministry is considering <a target=\"_blank\" href=\"https:\/\/hapijournal.com\/2024\/08\/19\/%d8%b4%d8%b1%d9%8a%d9%81-%d9%81%d8%a7%d8%b1%d9%88%d9%82-%d9%86%d8%af%d8%b1%d8%b3-%d8%aa%d8%ad%d8%b1%d9%8a%d9%83-%d8%b3%d8%b9%d8%b1-%d8%a7%d9%84%d8%b3%d9%83%d8%b1-%d8%a7%d9%84%d8%aa%d9%85%d9%88%d9%8a\/\" style=\"\" rel=\"noopener\">raising the price of sugar<\/a> on ration cards, Farouk said, adding that it is difficult to continue offering sugar at the price of EGP 12.60 per kg.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Changes might be coming for bread subsidies, too: <\/strong>The ministry is studying a proposal to sell subsidized bread by weight instead of the current system of five loaves per person a day, Farouk said. The proposal is still under review and hasn\u2019t progressed further due to a number of factors, primarily opposition from bakeries, he explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO ON <\/strong><strong>THE AIRWAVES-<\/strong> <strong>The governmen<\/strong><strong>t is working to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02iB56MLTVdUwmBv5Ps1BTqpB8gnRwGyEjN6iZeTeab9vV1CFqwJ94mt14GmZR2ry9l\" style=\"\" rel=\"noopener\">finalize<\/a><\/strong><strong> an Egyptian-Saudi<\/strong><strong> investment agreement:<\/strong> During a meeting with government officials yesterday, Prime Minister Moustafa Madbouly called for expediting work on the agreement to ensure that it\u2019s ready to sign as soon as possible. The agreement \u2014 which seeks to enhance bilateral cooperation and ramp up joint investments \u2014 will attract more investments into priority sectors, support small- and medium-sized enterprises, and advance developmental goals in both countries. Cabinet Spokesperson Mohamed El Homsani discussed the agreement in a phone call with El Sa\u2019a El Sadesa\u2019s Azza Mostafa (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=t_bTnjfIvbI\" style=\"\" rel=\"noopener\">watch, runtime: 12:37<\/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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/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\/subsidies\/\">subsidies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"640096\" 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=\"640096\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/20\/some-1-6k-meds-set-for-price-hikes-by-the-end-of-2025-plus-home-group-development-dream-agro-global-biodiversity-framework-fund-wfrley-egypt-healthcare-authority\/\">\r\n                            Some 1.6k meds set for price hikes by the end of 2025. PLUS: Home Group Development, Dream Agro, Global Biodiversity Framework Fund, Wfrley, Egypt Healthcare Authority                        <\/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\/20\/some-1-6k-meds-set-for-price-hikes-by-the-end-of-2025-plus-home-group-development-dream-agro-global-biodiversity-framework-fund-wfrley-egypt-healthcare-authority\/\" 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\/20\/some-1-6k-meds-set-for-price-hikes-by-the-end-of-2025-plus-home-group-development-dream-agro-global-biodiversity-framework-fund-wfrley-egypt-healthcare-authority\/')\">\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\/20\/some-1-6k-meds-set-for-price-hikes-by-the-end-of-2025-plus-home-group-development-dream-agro-global-biodiversity-framework-fund-wfrley-egypt-healthcare-authority\/\">\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=Some 1.6k meds set for price hikes by the end of 2025. 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2345.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2345.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2345.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2345.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-640096\" class=\"content-area-description single-story post-640096 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-development-finance tag-egypt-healthcare-authority tag-enterpriseam tag-environment-ministry tag-fertilizers tag-fintech tag-healthcare tag-logistics tag-manufacturing tag-pharma tag-ports wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.2207dcf4-d64e-41f4-aa8f-31f4c9dc2e23.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">PHARMA-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>More meds price hikes in the pipeline: <\/strong>Some 1.6k pharma products will be subject to price hikes between September and end of 2025, Ali Auf, head of the Federation of Egyptian Chambers of Commerce\u2019s pharma division told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/08\/19\/%D8%B4%D8%B9%D8%A8%D8%A9-%D8%A7%D9%84%D8%A3%D8%AF%D9%88%D9%8A%D8%A9-%D9%85%D8%B5%D8%B1-%D8%AA%D8%B1%D9%81%D8%B9-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-1600-%D8%AF%D9%88%D8%A7%D8%A1-%D8%AE%D9%84%D8%A7%D9%84-15-%D8%B4%D9%87%D8%B1%D8%A7%D9%8B\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. Companies could receive the greenlight to hike the prices of some 600 types of meds before the end of the year.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We saw this coming: <\/strong>Auf <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a999619f-062f-426f-9d80-51833220c11b\/gov%25e2%2580%2599t-to-end-meds-shortage-with-subsidized-loans-for%253cmark%253e-pharma%253c%2Fmark%253e-players\" style=\"\" rel=\"noopener\">previously told us<\/a> that the Egyptian Drug Authority has been approving price hikes for various types of meds in response to companies\u2019 requests. 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. Pharma players have been calling for further price hikes, most recently in response to rising fuel prices.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hot on the heels of July\u2019s price hike: <\/strong>Some med prices were <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/862efbea-9bc6-40b6-8d32-1ad9e18c24ae\" style=\"\" rel=\"noopener\">hiked an average of 25% in July<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/862efbea-9bc6-40b6-8d32-1ad9e18c24ae\" style=\"\" rel=\"noopener\"><\/a> as per <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b514c8d2-44d3-41f8-9eac-ef500d9b464c\/pharma-products-will-see-hikes-of-up-to-50%2525\" style=\"\" rel=\"noopener\">requests from local pharma companies<\/a> in response to the EGP exchange rate against the greenback moving from 31 pre float to close to 50 post float.<\/p><p class=\"tag-border-left\">RETAIL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A Saudi-Egyptian partnership will bring a EGP 1 bn mall to New Cairo:<\/strong> Egypt\u2019s <a target=\"_blank\" href=\"https:\/\/homegroup-eg.com\/\" style=\"\" rel=\"noopener\">Home<\/a><a target=\"_blank\" href=\"https:\/\/homegroup-eg.com\/\" style=\"\" rel=\"noopener\">Group Development<\/a> has partnered with Saudi <a target=\"_blank\" href=\"https:\/\/almudayfer.com\/en\/\" style=\"\" rel=\"noopener\">Saleh Almudayfer Son\u2019s Holding<\/a> \u2019s subsidiary <a target=\"_blank\" href=\"https:\/\/aseel-group.com\/\" style=\"\" rel=\"noopener\">Aseel Group<\/a> to build a EGP 1 bn mall in New Cairo, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d8%b4%d8%b1%d8%a7%d9%83%d8%a9-%d8%a7%d8%b3%d8%aa%d8%b1%d8%a7%d8%aa%d9%8a%d8%ac%d9%8a%d8%a9-%d8%a8%d9%8a%d9%86-%d9%87%d9%88%d9%85-%d8%ac%d8%b1%d9%88%d8%a8-%d8%a7%d9%84%d8%b9%d9%82%d8%a7\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reported. The mall will have commercial, administrative, and medical facilities.<\/p><p class=\"tag-border-left\">MANUFACTURING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A second Dream Agro<\/strong><strong> factory? <\/strong>Fertilizer producer <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/profile.php?id=100093512796272\" style=\"\" rel=\"noopener\">Dream Agro Egypt<\/a> wants to set up a second factory in Fayoum early next year with initial investments of EGP 100 mn, chairman Mahmoud El Masry told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%af%d8%b1%d9%8a%d9%85-%d8%a3%d8%ac%d8%b1%d9%88-%d8%a5%d9%8a%d8%ac%d9%8a%d8%a8%d8%aa-%d9%84%d9%84%d8%a3%d8%b3%d9%85%d8%af%d8%a9-%d8%aa%d8%ae%d8%b7%d8%b7-%d9%84%d8%a7%d8%b3%d8%aa%d8%ab\/\" style=\"\" rel=\"noopener\">Al Mal<\/a>. The new factory will have a production capacity of 1k tons a month and will produce no less than 30 different types of fertilizers. The company also plans to increase the production capacity of its existing factory in Fayoum to 500 tons per month starting next year from 100 mn tons at the moment. <\/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>GOEIC eyes carbon credit verification license: <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.goeic.gov.eg\/en\" style=\"\" rel=\"noopener\">General Organization for Export and<\/a><a target=\"_blank\" href=\"https:\/\/www.goeic.gov.eg\/en\" style=\"\" rel=\"noopener\">Import Control<\/a> (GOEIC) has applied for a license to operate as a verification and certification body within the country\u2019s newly-launched carbon market, GOEIC Chairman Essam El Naggar told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/08\/19\/1818931\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The authority, which awaits the Financial Regulatory Authority\u2019s approval, is looking to secure a license to help local companies ramp up their exports, he added.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Egypt last week <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bf6f83bf-cf94-4686-a908-2e5c27b3c511\/\" style=\"\" rel=\"noopener\">launched<\/a> its voluntary carbon trading market \u2014 the first in the country and in Africa. The market allows companies to issue and trade voluntary carbon certificates in Egypt and Africa, which can be bought by other companies wanting to offset their emissions.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The players on the market: <\/strong>There are currently three licensed carbon credit verifiers in the country \u2014 the <a target=\"_blank\" href=\"https:\/\/www.coae-egypt.com\/\" style=\"\" rel=\"noopener\">Center Of Organic Agriculture in Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/www.tuv-nord.com\/eg\/en\/home\/\" style=\"\" rel=\"noopener\">TUV NORD Egypt<\/a>, and TUV NORD Cert \u2014 according to Al Borsa.<\/p><p class=\"tag-border-left\">DEVELOPMENT FINANCE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt becomes member of global fund for financing biodiversity projects: <\/strong>Environment Minister Yasmine Fouad has been selected as a member of the <a target=\"_blank\" href=\"https:\/\/www.thegef.org\/what-we-do\/topics\/global-biodiversity-framework-fund\" style=\"\" rel=\"noopener\">Global Biodiversity Framework Fund<\/a> \u2019s executive board, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02Az1JC9GoBrQkxLHiWnDbuBrxocegZ2RKsnTnVYhub7JuCWzgjhffd93qgya6LGXxl?_rdc=1&amp;_rdr\" style=\"\" rel=\"noopener\">statement<\/a> from the ministry. Egypt was one of fifteen developing countries invited to join the board, which stands as the decision-making body and manager of the fund. The decision came on the sidelines of the <a target=\"_blank\" href=\"https:\/\/www.sis.gov.eg\/Story\/194264\/Environment-minister-heads-to-Canada-to-attend-workshop-in-preparation-for-biodiversity-conference?lang=en-us\" style=\"\" rel=\"noopener\">minister\u2019s visit<\/a> to Canada to prepare for the 16th round of <a target=\"_blank\" href=\"https:\/\/sdg.iisd.org\/events\/un-biodiversity-conference-cbd-cop-16\/\" style=\"\" rel=\"noopener\">COP16 to the Convention on Biological Diversity<\/a>, which will convene in Colombia from October 21 to November 1. <\/p><p class=\"tag-border-left\">GCC EXPANSION-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wf<\/strong><strong>rley wants to head to the GCC:<\/strong> SaaS solutions startup <a target=\"_blank\" href=\"https:\/\/wfrley.com\/#\/admin\" style=\"\" rel=\"noopener\">Wfrley<\/a> wants to set up an office in Saudi Arabia during the last quarter of the year to serve the Gulf region, co-founder and CEO Mohammed Korshom told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%88%d9%81%d8%b1%d9%84%d9%8a-%d9%84%d9%84%d8%ad%d9%84%d9%88%d9%84-%d8%aa%d8%aa%d9%88%d8%b3%d8%b9-%d9%81%d9%8a-%d8%a7%d9%84%d8%ae%d9%84%d9%8a%d8%ac-%d9%88%d8%aa%d9%82%d8%aa%d8%ad%d9%85\/\" style=\"\" rel=\"noopener\">Al Mal<\/a>, adding that the company plans to to step foot in Nigeria by 2026. The company provides AI-driven SaaS solutions that enable merchants in the food and beverage sector to integrate \u201cinventory management, POS systems, e-commerce, and logistics into a single, seamless platform.\u201d <\/p><p class=\"tag-border-left\">HEALTHCARE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Digitizing health records:<\/strong> The Egypt Healthcare Authority (EHA) has created about 4.5 mn electronic health records for citizens residing in governorates covered by the Universal Health Ins. system, it said in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0A8yFuu1x6qXNeXnAUSQpVXd9vFq3P3is8drsTVcN6CVZA1dDjQ5eD7c5aMmbXSiHl?rdid=ccTfEWUow2jgu0HO\" style=\"\" rel=\"noopener\">statement<\/a>. The authority also introduced an electronic referral system \u2014 a service which allows for the seamless transfer of patient information from one medical practitioner to the other. The EHA\u2019s digitization efforts has also seen the issuing of 42 mn electronic prescriptions.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But that\u2019s not all:<\/strong> The EHA has successfully integrated the <a target=\"_blank\" href=\"https:\/\/icd.who.int\/en\" style=\"\" rel=\"noopener\">ICD-11<\/a> coding system \u2014 a global standard for diagnostic health information \u2014 into the country\u2019s healthcare system, making Egypt the first country in the North and East Mediterranean region to adopt this healthcare coding standard. <\/p><p class=\"tag-border-left\">LOGISTICS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt, Kuwait to collab on industry, transport, and logistics:<\/strong> Industry and Transport Minister Kamel El Wazir met with Kuwait\u2019s ambassador to Egypt Ghanem Saqr Al Ghanem to explore and boost cooperation between the two countries on industry, transport, and logistics projects, according to a Transport Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MinistryTransportation\/posts\/pfbid02fP7SnJuXBLc6sgy3yVxtrZW3Xt9PmzaQQwjgfisAyTf3PdioAENF2ZseHaQx3tcGl\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-healthcare-authority\/\">Egypt 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class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ports\/\">ports<\/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=\"640098\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"640098\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/20\/startups-are-increasingly-going-bust-as-funding-dries-up\/\">\r\n                            Startups are increasingly going bust as funding dries up                        <\/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 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1704.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"640099\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/20\/startups-are-increasingly-going-bust-as-funding-dries-up\/1704-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1704.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1704.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1704.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1704.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-640098\" class=\"content-area-description single-story post-640098 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-planet-finance tag-startups tag-turkey 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\/.3f292bfd-be1e-4000-84c7-700075068ac6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>There\u2019s trouble in startup land: <\/strong>US startup failures are on the rise two years after bearing the fruit of the tech boom, with the number of startups failing increasing nearly 60% this year already as founders find themselves running out of funds, capitalization table manager and valuation startup Carta detailed in a <a target=\"_blank\" href=\"https:\/\/carta.com\/blog\/startup-shutdowns-q1-2024\/\" style=\"\" rel=\"noopener\">blog post<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>Some 254 of Carta\u2019s venture-backed clients <a target=\"_blank\" href=\"https:\/\/carta.com\/blog\/startup-shutdowns-q1-2024\/\" style=\"\" rel=\"noopener\">went out of business<\/a> during the first quarter of the year, marking the \u201chighest quarterly total so far this decade.\u201d The figure has been on the rise for years now \u2014 the number of startups closing their doors rose 58% y-o-y during 1Q 2024 and 124% y-o-y during 1Q 2023.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Most recently<\/strong>, fintech firm Tally <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/meettally_%3F%3F%3F%3F%3F%3F%3F%3F-%3F%3F-%3F%3F%3F%3F%3F-%3F-%3F%3F-activity-7228833643052351489-HJ0-\/?utm_source=share&amp;utm_medium=member_desktop\" style=\"\" rel=\"noopener\">announced<\/a> that it will be shutting its doors after nine years in business after it was \u201cunable to secure the necessary funding to continue operations.\u201d The company had a valuation of USD 855 mn just two years prior. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The trigger: <\/strong>Between boom year 2022 and now, startups were faced with rising interest rates, dwindling VC sentiment, and the aftermath of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15885d8c-9d4b-4569-814b-09cc6d8168f2\/%253cmark%253esilicon-valley-bank%253c%2Fmark%253e-collapse-leaves-dozens-of-local-startups-in-the-lurch\" style=\"\" rel=\"noopener\">collapse of Silicon Valley Bank<\/a>. The difficult reality facing many startups now comes in stark contrast to just a few years back, when \u201can abnormally high number of companies raised an abnormally large amount of money during 2021-2022,\u201d Morgan Stanley analysts wrote in a note seen by the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2808ad4c-783f-4475-bcda-bddc0299095e\" style=\"\" rel=\"noopener\">Financial Times<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As things stand: <\/strong>There\u2019s been a huge drop in the amount of companies able to raise funds within two years of their last funding round, Peter Walker, head of insights at Carta, told the salmon-colored paper. Startups are now resorting to cutting costs to stay afloat, a move that puts growth on the backburner and in turn puts off VCs from lending their financial backing.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The collapse will echo far beyond startup land: <\/strong>The failure of startups will create \u201cspillover risks to the rest of the economy,\u201d Morgan Stanley said, pointing to the 4 mn people employed by VC-backed companies. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO FROM PLANET FINANCE- Turkey\u2019s Monetary Policy Committee is expected to<\/strong><strong> leave the one-week repo rate <\/strong><strong>at 50% when it meets later today<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-08-19\/no-respite-for-turkey-s-economy-as-rates-set-to-stay-at-50?srnd=homepage-middle-east&amp;embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The committee has held rates steady for four months running now. Turkish officials noted that monetary policy needs to remain tight to tackle inflation, which currently sits at 62%. <\/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 in early trading this morning <\/strong>in the wake of a rally in Western markets yesterday. Japan\u2019s Nikkei is up 1.6% and Korea\u2019s Kospi is up 0.8% at the time of writing, while China\u2019s Hang Seng is down 0.3%. <\/p><p><a target=\"_blank\" id=\"t.b5292b36ef6ae3bc72d655d55539be109dc60dce\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">29,321<\/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: +17.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 48.72<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.85<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 48.72<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.82<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,023<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +0.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,305<\/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: -2.9%)<\/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>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\">4,238<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +4.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,608<\/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: +18.3%)<\/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>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\">8,357<\/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: +8.1%)<\/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>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\">4,871<\/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: +7.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 77.80<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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 2.24<\/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\">+5.3%<\/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>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 2,541.30<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 59,112.80<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.2% (YTD: +39.8%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 0.5% at yesterday\u2019s close<\/strong> on turnover of EGP 3.7 bn (2.7% above the 90-day average). Local investors were net sellers. The index is up 17.8% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Palm Hills Development (+6.3%), Mopco (+3.7%), and Emaar Misr (+2.9%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Alexandria Containers and Cargo Handling (-4.1%), Talaat Moustafa Group Holding (-1.7%), and B Investments Holding (-1.7%).<\/p><p class=\"tag-border-left\">CORPORATE ACTIONS- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Raya Holding transferred some 1.3 mn shares<\/strong> \u2014 worth some EGP 2.9 mn \u2014 to its employee stock ownership plan share program, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/1666.jpg\" style=\"\" rel=\"noopener\">EGX bulletin<\/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- Alexandria Mineral Oils Company (AMOC) will pay out a dividend of EGP 0.70 per<\/strong><strong> share<\/strong> for its FY 2023-2024 earnings, after its board greenlit the move, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/1689.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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  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               <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-640100\" class=\"content-area-description post-640100 goinggreen type-goinggreen status-publish has-post-thumbnail hentry category-going-green tag-climate tag-development-finance tag-energy tag-enterprise-going-green tag-enterpriseam tag-eu tag-going-green tag-green-hydrogen tag-imf tag-infrastructure tag-oil-and-gas tag-renewable-energy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Low carbon, high ambitions:<\/strong> After years of anticipation, Egypt launched its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/1422.pdf\" style=\"\" rel=\"noopener\">National Low Carbon Hydrogen Strategy (pdf)<\/a> last Thursday mapping out how the country can achieve ambitious goals to potentially capture between 5-8% of the global hydrogen market by 2040. The strategy puts forth two scenarios and a pathway for the country to exploit the export market and our renewable energy capacity.<\/p>\n<p class=\"tag-border-left\">THE CURRENT STATE OF PLAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ambitious targets: <\/strong>The government has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fcf011d7-a2c5-422f-97a0-57084a10c5bb\/the-hurdles-standing-in-the-way-of-our%253cmark%253e-green-hydrogen%253c%2Fmark%253e-ambitions-and-how-they-can-be-tackled\" style=\"\" rel=\"noopener\">harbored ambitions<\/a> to transform Egypt into a center for green hydrogen production for some time now, with its sights set on becoming a regional hub by 2026 and a global hub by 2030. Its production targets have been similarly ambitious, with plans to produce 3.2 mn tons of green hydrogen a year by the end of the president\u2019s third term and 9.2 mn tons a year by 2040. This most recent strategy revises the 9.2 mn figure down to just under 6.2 mn tons (5.9 mn tons) per year, or 8% of the expected tradable market for low carbon hydrogen, according to the report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s our competitive advantage?<\/strong> Egypt\u2019s significant experience in gray and green hydrogen production and ammonia production is an optimal starting point to establish a thriving low-carbon hydrogen economy. The country also has substantial renewable energy capacity, a strategic geographic location in terms of proximity to Europe, well-developed port infrastructure, and access to global maritime traffic through the Suez Canal.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Focusing on both blue and green: <\/strong>The country\u2019s low carbon national hydrogen strategy focuses on scaling up the production of blue hydrogen, or hydrogen whose emissions are offset by carbon capture, and green hydrogen, which is produced via <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e7f44099-40e4-4409-be87-239473d9a3c3\/europe-could-be-our-biggest-green-hydrogen-export-market:-what-needs-to-happen-to-get-trading-off-the-ground%3F\" style=\"\" rel=\"noopener\">a zero-carbon process called electrolysis<\/a>. Both are cleaner fuel sources than carbon-emitting gray hydrogen, which makes up the vast majority of hydrogen produced worldwide and is generally produced from natural gas.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- There are already offtake agreements lined up:<\/strong> UAE-based urea and ammonia exporter Fertiglobe <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f5abf384-29b6-40d9-bc15-0d60974a882e\" style=\"\" rel=\"noopener\">secured a EUR 397 mn offtake agreement<\/a> from the German government\u2019s H2Global program last month to supply green ammonia to the EU from its Egyptian facilities between 2027 and 2033, securing 10% of Germany\u2019s annual ammonia needs. <\/p>\n<p class=\"tag-border-left\">THE SCENARIOS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The \u201ccentral\u201d scenario: <\/strong>In this less ambitious pathway, the country would produce 1.5 mn tons per annum of green hydrogen by 2030 with 1.4 mn tons pegged for export, and 5.8 mn tons per annum by 2040 with 3.75 mn tonnes pegged for export. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers:<\/strong> Reaching those goals will require 19 GW of additional renewables capacity by 2030 and 72 GW by 2040, as well as 13 GW of electrolyzer capacity by 2030 and 48 GW by 2040. The report estimates the investment ticket for this electrolyzer capacity at USD 10 bn by 2030 and USD 24 bn by 2040. If achieved, Egypt would capture 5% of the anticipated tradable market in low carbon hydrogen by 2040. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The \u201cgreen\u201d scenario: <\/strong>In this more ambitious scenario, the country would produce 3.2 mn metric tons of green hydrogen annually by 2030, with 2.8 mn metric tons marked for export, and 9.2 mn metric tons by 2040, with 5.6 mn metric tons pegged for export. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers:<\/strong> Reaching these goals will require an additional 41 GW of renewables capacity by 2030 and 114 GW by 2040, as well as 27 GW of electrolyzer capacity by 2030 and 76 GW by 2040. The estimated investment cost for the electrolyzer capacity needed is USD 22 bn by 2030 and USD 34 bn by 2040. If achieved, Egypt would capture 8% of the anticipated tradable market in low carbon hydrogen by 2040. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Both scenarios will work to decarbonize Egypt\u2019s high-emitting sectors at different paces:<\/strong> Policy measures will also accelerate the shift from natural gas under both scenarios, with refineries, ammonia, and methanol production fully transitioning to green hydrogen and most steel plants adopting hydrogen-based direct reduced iron (DRI) processes in the green scenario. In the central scenario, green hydrogen will gradually replace gray hydrogen in industry as its pricing becomes more competitive, with demand expected to be blended into the gas grid to supply inland areas as well as in the heavy goods transport sector.<\/p>\n<p class=\"tag-border-left\">THE PATHWAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The strategy suggests a three-phase plan to develop the country\u2019s hydrogen economy<\/strong>. The pilot phase which will last until 2030 will see the government offer close support for initial projects and establish a fit-for-purpose governance structure. A scale-up phase will be implemented between 2030 and 2040 focusing on lowering the cost of production to scale up to GW production capacity. The final full market implementation phase from the 2040s onward will maintain Egypt\u2019s market position and make use of hydrogen locally to support decarbonisation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There are some extra kinks to work out: <\/strong>Green hydrogen production is water-intensive and Egypt will likely require water desalination due to water scarcity. The electrolysis process also generates brine, which poses disposal issues and can cause severe marine ecosystem damage if not managed well. Additionally, new renewable energy sources must be dedicated to hydrogen production \u2014 similar to the \u201c <a target=\"_blank\" href=\"https:\/\/energy.ec.europa.eu\/topics\/energy-systems-integration\/hydrogen\/renewable-hydrogen_en#:~:text=The%20idea%20of%20additionality%20is,unsupported%20renewable%20electricity%20generation%20capacity.\" style=\"\" rel=\"noopener\">additionality<\/a> \u201d requirement in the EU \u2014 to prevent the country\u2019s existing renewable energy production from being diverted away from the power grid.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the blue hydrogen side:<\/strong> Because blue hydrogen can be produced by retrofitting conventional gray hydrogen plants with carbon capture technology, scaling up its production should be relatively easy. However, it would take the country 5-10 years to develop the needed carbon storage capacity, making expanding blue hydrogen production only conceivable after 2030.<\/p>\n<p class=\"tag-border-left\">WHO WILL FINANCE THIS?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The strategy outlines a three-pronged approach<\/strong>, which includes accessing concessional finance provided by development banks and multilateral funds, attracting foreign investors, and offering government incentive packages.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Concessional finance: <\/strong>Below-market-rate financing offered by the EU and international institutions is among the key sources of potential financing for green fuel. The EU, for instance, will offer financing for its Mediterranean neighbors\u2019 green transition initiatives through 2027 under the framework of the <a target=\"_blank\" href=\"https:\/\/south.euneighbours.eu\/wp-content\/uploads\/2024\/04\/EIP-factsheet-v37.pdf\" style=\"\" rel=\"noopener\">Economic Investment Plan for the Southern Neighbours (pdf)<\/a>. Dedicated funds such as the <a target=\"_blank\" href=\"https:\/\/www.greenclimate.fund\/\" style=\"\" rel=\"noopener\">Green Climate Fund<\/a>, the <a target=\"_blank\" href=\"https:\/\/www.ggf.lu\/\" style=\"\" rel=\"noopener\">Green for Growth Fund<\/a>, and the <a target=\"_blank\" href=\"https:\/\/www.thegef.org\/\" style=\"\" rel=\"noopener\">Global Environment Facility<\/a> are also good sources of concessional financing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Building partnerships:<\/strong> Financing could be mobilized through the <a target=\"_blank\" href=\"https:\/\/commission.europa.eu\/news\/eu-strengthens-climate-and-energy-cooperation-egypt-view-cop27-2022-04-11_en\" style=\"\" rel=\"noopener\">proposed Mediterranean<\/a><a target=\"_blank\" href=\"https:\/\/commission.europa.eu\/news\/eu-strengthens-climate-and-energy-cooperation-egypt-view-cop27-2022-04-11_en\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/commission.europa.eu\/news\/eu-strengthens-climate-and-energy-cooperation-egypt-view-cop27-2022-04-11_en\" style=\"\" rel=\"noopener\">Green Hydrogen Partnership<\/a>, which is under development between the EU and Egypt to boost hydrogen trade between Europe, Africa, and the Gulf. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Multilateral development bank-friendly funds:<\/strong> The European Bank for Reconstruction and Development\u2019s loans and assistance for the energy sector constitutes another potential source of funding, as well as the European Investment Bank, the IMF, and World Bank.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign investment always plays a role:<\/strong> Egypt has signed 23 MoUs and nine partnership agreements with a range of low carbon hydrogen project developers and investors, which will pave the way for Egypt\u2019s ramping up of the sector. In order to assure that Egypt reaps the benefits of the signed MoUs, the National Council for Green Hydrogen and its Derivatives (NCGH) \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/70980a89-417b-48b1-834f-3adfa704c109\" style=\"\" rel=\"noopener\">formed a year ago<\/a> \u2014 should ensure that the actual impact of the first hydrogen initiatives on the local economy are assessed, including the benefits of different business models (build-operate-transfer, build-operate-own-transfer, or public-private partnerships) used to deliver the projects. <\/p>\n<p class=\"tag-border-left\">WHAT HAPPENS NOW?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A supportive regulatory environment is crucial to fully capitalize on the potential of the<\/strong> <strong>strategy,<\/strong> including streamlined decision-making processes, simplifying access to land and utilities, and creating a clear framework for investors. Stakeholders will also have to explore diverse financing options to reduce project risks and boost returns, as well as partner with international bodies to ensure that production adheres to the stringent global low-carbon standards, including issuing transparent <a target=\"_blank\" href=\"https:\/\/www.aib-net.org\/certification\/certificates-supported\/renewable-energy-guarantees-origin\" style=\"\" rel=\"noopener\">origin guarantees<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NCGH will monitor and assess progress based on the targets laid out in the central<\/strong> <strong>and green scenarios,<\/strong> and other metrics such as the impact of delivered MoUs, effectiveness of government incentives, and impact of R&amp;D projects. The council will also propose updates to the strategy in line with global developments, approve necessary policies and plans, and review the green hydrogen sector\u2019s rules and regulations.<\/p>\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>The Electricity Ministry is looking to solar to cut down on costs<\/strong> by aiming to install up to 30 GW of new renewable energy as it looks to save USD 4.1 bn in annual fuel costs, it said in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0pZ5BHKHHfK2CNCAYqNsb4BdUMtE3k6Wxz4KQh8g7YmDzHoBGbw3bSqVwZkcydbSDl\" style=\"\" rel=\"noopener\">statement<\/a>.<\/li>\n<li><strong>Greek logistics firm V Group<\/strong><strong> has purchased u<\/strong><strong>nits for marine waste collection <\/strong>for some EUR 4 mn that will be used to clean up the Suez Canal. (<a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%b4%d8%b1%d9%83%d8%a9-vgroup-%d8%a7%d9%84%d9%8a%d9%88%d9%86%d8%a7%d9%86%d9%8a%d8%a9-%d8%aa%d8%b6%d8%ae-4-%d9%85%d9%84%d8%a7%d9%8a%d9%8a%d9%86-%d9%8a%d9%88%d8%b1%d9%88\/\" style=\"\" rel=\"noopener\">Al<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%b4%d8%b1%d9%83%d8%a9-vgroup-%d8%a7%d9%84%d9%8a%d9%88%d9%86%d8%a7%d9%86%d9%8a%d8%a9-%d8%aa%d8%b6%d8%ae-4-%d9%85%d9%84%d8%a7%d9%8a%d9%8a%d9%86-%d9%8a%d9%88%d8%b1%d9%88\/\" style=\"\" rel=\"noopener\">Mal<\/a>)<\/li>\n<li><strong>Waste-to-energy projects could soon play an important role in our energy mix<\/strong>, with the government set to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cddb654f-695e-48b6-bb71-2f45e6624b83\/\" style=\"\" rel=\"noopener\">sign contracts with eight local-foreign consortiums<\/a> to produce a total of 1.7 bn Kw\/h of electricity from municipal solid waste across a number of governorates.<\/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\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/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=\"640102\" 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\/20\/640102\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-640102\" class=\"content-area-description single-story post-640102 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;\">AUGUST<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20-24 August: Second phase of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/tansik.digital.gov.eg\/Application\/Default.aspx\" style=\"\">public university enrollment (tansik)<\/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>August 2024: Shalateen to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6d572f59-2b27-4be1-a417-368f671f8ad3\/here%25e2%2580%2599s-what-you-missed-from-day-one-of-the-egypt%253cmark%253e-mining-forum%253c%2Fmark%253e\" style=\"\">announce<\/a><\/span><span style=\"font-weight:400;\"> gold exploration tender winner. <\/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>2-3 September (Mo<\/span><span>nday-Tuesday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.terrapinn.com\/exhibition\/seamless-north-africa\/index.stm\" style=\"\">Seamless North Africa conference<\/a><\/span><span>, Cairo.<\/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;\">9-12 September (Monday-Thursday): The annual EFG Hermes London Conference.<\/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: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;\">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 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>10-12 October (Thursday-Saturday<\/span><span>): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/finexpo.org\/\" style=\"\">FinExpo Conference and Exhibition<\/a><\/span><span style=\"font-weight:400;\">, 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>20-22 October (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/moc-egypt.com\/\" style=\"\">Mediterranean Offshore Conference (MOC)<\/a><\/span><span style=\"font-weight:400;\">, Alexandria, 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: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 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>Foreign appetite for t-bills up in May | Turkish wheat to fill the import gap? | An EGP 2 coin is in the works | Meds price hikes yet again<\/p>\n","protected":false},"featured_media":640079,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-640078","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"3b7058a5-6a73-4da8-aa65-1047d543086c","teaser":"Foreign appetite for t-bills up in May | Turkish wheat to fill the import gap? | An EGP 2 coin is in the works | Meds price hikes yet again","photo_url":"https:\/\/ent.news\/2024\/8\/1719.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>Gov\u2019t reportedly begins implementing new electricity tariffs -reports - 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\" 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