{"id":641742,"date":"2024-09-02T00:00:00","date_gmt":"2024-09-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=641742"},"modified":"2025-12-17T17:45:16","modified_gmt":"2025-12-17T17:45:16","slug":"masdar-infinity-hassan-allam-utilities-get-govt-greenlight-for-1-gw-of-solar-projects-in-upper-egypt-worth-usd-900-mn","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/masdar-infinity-hassan-allam-utilities-get-govt-greenlight-for-1-gw-of-solar-projects-in-upper-egypt-worth-usd-900-mn\/","title":{"rendered":"Masdar, Infinity, Hassan Allam Utilities get gov\u2019t greenlight for 1 GW of solar projects in Upper Egypt worth USD 900 mn"},"content":{"rendered":"<section id=\"641744\" 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=\"641744\">\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\/09\/02\/new-electricity-bill-late-fines-incoming\/\">\r\n                            New electricity bill late fines incoming                        <\/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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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"641745\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/new-electricity-bill-late-fines-incoming\/2281-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2281.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2281.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2281.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2281.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-641744\" class=\"content-area-description single-story post-641744 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-electricity tag-electricity-ministry 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\/9\/.f432c21a-c5df-4d0b-907f-59f9d5e7846e.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> As expected, the month is already off to a busy start with big renewable investment news, M&amp;A updates, PPP offerings in the pipeline, and much more. We\u2019ve got plenty to get through this morning, so let\u2019s jump right in.<\/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\"><a id=\"wwtt3\"><\/a> <strong>You\u2019re going to want to make sure you pay your electricity bill on time from now on<\/strong>, after the Egyptian Electric Utility and Consumer Protection Regulatory Agency (Egyptera) introduced a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/74.jpg\" style=\"\" rel=\"noopener\">7% fine<\/a> on overdue electricity bills. Households have 30 days to pay their bills until the fine comes into effect. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s another warm \u2014 but not too warm \u2014 day in Cairo today<\/strong>, with a high of 35\u00b0C and a low of 26\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alexandria and the North Coast are also saying goodbye to the hottest part of the year<\/strong>, with a more manageable high of 32\u00b0C and a low of 23\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing, we took a look into the state efforts to localize Egypt\u2019s auto industry. Check out the story <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c1ed2652-13a2-4dbb-ad35-647e35adcae1\/\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">HAPPENING TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>Explore the future of digital commerce at <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.terrapinn.com\/exhibition\/seamless-north-africa\/index.stm?_gl=1*272cuj*_gcl_au*Nzg0MDQ4MjM1LjE3MjQwNjI1MDI.*_ga*MjAyMjExMzE0Ni4xNzI0MDYyNDk4*_ga_8ZVPFLKW76*MTcyNDE0NDcyNC4yLjEuMTcyNDE0NTEwMS41Ni4wLjA.\" style=\"\" rel=\"noopener\">Seamless North Africa<\/a><\/strong><strong>.<\/strong> The two-day event is held at the Egypt International Exhibition Center today and tomorrow under the theme The Future of Digital Commerce Across North Africa. The event brings together mechants, enterprises, and SMEs in the e-commerce space as well as players in the fintech, banking, and retail sectors \u201cto drive forward the future of digital commerce.\u201d Take a look at the schedule <a target=\"_blank\" href=\"https:\/\/www.terrapinn.com\/exhibition\/seamless-north-africa\/Conference-Agenda.stm\" style=\"\" rel=\"noopener\">here<\/a> and register to attend <a target=\"_blank\" href=\"https:\/\/secure.terrapinn.com\/V5\/step1.aspx?E=10803&amp;_gl=1*tj17hj*_ga*MTA0MTQ2Nzg5MC4xNzI0MTQwOTI2*_ga_8ZVPFLKW76*MTcyNDE0MDkyNS4xLjEuMTcyNDE0MjAzMy42MC4wLjA.*_gcl_au*MTk5NDA3MDI4OS4xNzI0MTQwOTI4\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p class=\"tag-border-left\">HAPPENING TOMORROW- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1- Non-oil private sector activity to finally break its 44-month streak in the red? <\/strong>S&amp;P Global will publish Egypt\u2019s PMI figures for August tomorrow measuring the country\u2019s non-oil private sector activity. Last month saw business activity hit its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5080d3b9-49d2-402a-ae89-507194e6565e\/non-oil-private-sector-activity-remains-near-growth-territory-despite-dipping-in-july\" style=\"\" rel=\"noopener\">second highest level<\/a> since August 2021.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#2- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.egypt-air-show.com\/\" style=\"\" rel=\"noopener\">Egypt International Airshow<\/a><\/strong><strong> is kicking off tomorrow and running through to<\/strong><strong> Thursday in El Alamein.<\/strong> The event will cover all things aviation \u2014 be it commercial, defense, and even space \u2014 and feature exhibitions from 200+ companies, discussions from industry leaders, and even aircraft flyovers and displays.<\/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>CLARIFICATION-<\/strong> We accidentally referred to Soha El Turky as the vice president and CFO of the EBRD in yesterday\u2019s issue. El Turky <a target=\"_blank\" href=\"https:\/\/www.ebrd.com\/executive-committee\/soha-el-turky.html\" style=\"\" rel=\"noopener\">left her post at the European Bank for Reconstruction and Development<\/a> on 1 July after over four years with the organization. <\/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\/2248.jpg?ssl=1\"><\/a> <\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The war on Gaza continues to dominate headlines this morning on day 331 of the <\/strong><strong>conflict. <\/strong>Israeli Prime Minister Benjamin Netanyahu faced increasing pressure from leaders abroad to accept a ceasefire. He\u2019s also facing public pressure at home.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Crowds of up to 500k took to the streets in Jerusalem, Tel Aviv, and other Israeli cities<\/strong> to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-says-it-has-discovered-unidentified-bodies-gaza-2024-08-31\/\" style=\"\" rel=\"noopener\">protest Netanyahu\u2019s continued stalling on a ceasefire agreement<\/a>, which protestors claim is impeding the return of the remaining 101 hostages. The country\u2019s biggest labor union <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israels-main-labor-union-calls-general-strike-monday-2024-09-01\/\" style=\"\" rel=\"noopener\">threw its weight behind protests<\/a> early this morning, calling for a general strike with the apparent blessing of Israeli manufacturers and other companies.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The protests reflect <\/strong><strong>an increasingly polarized Israeli society, say much of the<\/strong><strong> commentariat<\/strong><strong>, <\/strong>with right-wing politicians threatening to bring down Netanyahu\u2019s political coalition if he accepts a ceasefire agreement. On the far right of the country\u2019s already far right cabinet, Israeli Finance Minister Bazalel Smotrich called on the country\u2019s attorney general to block the planned labor strike, <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1916b953-9ff6-4abb-807a-b2fae61da3a9\" style=\"\" rel=\"noopener\">accusing protesters<\/a> of \u201cfulfilling (Hamas chief Yahyeh) Sinwar\u2019s dream.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WHILE IN INT\u2019L BUSINESS NEWS- On an otherwise quiet day in the world of business,<\/strong><strong> Intel CEO Pat Gelsinger\u2019s plan to rejuvenate the company\u2019s fortunes<\/strong> is catching the <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/intel-ceo-pitch-board-plans-shed-assets-cut-costs-source-says-2024-09-01\/\" style=\"\" rel=\"noopener\">attention<\/a> of the international press. Gelsinger and other top executives are slated to present a plan to the company\u2019s board later this month that will propose breaking up some of Intel\u2019s key businesses in its efforts to start reclaiming some ground between it and competitors like chipmaker Nvidia.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND OVER IN EUROPE- Germany\u2019s far-right has taken its first state election since World War<\/strong><strong> II<\/strong>, with the once-marginalized far-right Alternative for Germany (AfD) <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/217b4179-6fda-418b-8517-10fb7c1aae27\" style=\"\" rel=\"noopener\">named the victor<\/a> in the regional election for the state of Thuringia. The party won 32.8% of the vote, leading its main rival \u2014 the center-right Christian Democratic Union (CDU) \u2014 by a margin of over nine percentage points. Next door in Saxony, the CDU is expected to barely edge out the AfD with 31.9% of the vote to AfD\u2019s 30.6%.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2495.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue:<\/strong> We take a look at how the caps on tuition hikes are impacting private and int\u2019l schools. Check out the story in the issue below.<\/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\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/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=\"641746 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=\"641746\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/641746\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-641746\" class=\"content-area-description single-story post-641746 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1807.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Beauty unveiled amidst ancient wonders: <\/span><span style=\"font-weight:400;\">Celebrate the beauty, nature, and cultural legacy of 30 nations as Miss Elite 2024 returns to the enchanting shores of Somabay from 2-14 September. For the fourth consecutive year, Somabay is hosting this prestigious international beauty pageant, celebrating women&rsquo;s beauty and intelligence on a global scale. Experience the fusion of antiquity and modern elegance by attending the Grand Finale on 13 September at Mazeej Soma Beach Platform.<\/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=\"641747\" 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=\"641747\">\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\/09\/02\/masdar-infinity-hassan-allam-utilities-are-setting-up-usd-900-mn-worth-of-solar-power-plants-in-upper-egypt-plus-nahdet-misr-environmental-services-eyes-wte-projects-with-initial-usd-100-mn-invest\/\">\r\n                            Masdar, Infinity, Hassan Allam Utilities are setting up USD 900 mn worth of solar power plants in Upper Egypt. PLUS: Nahdet Misr Environmental Services eyes WtE projects with initial USD 100 mn investment                        <\/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\/09\/02\/masdar-infinity-hassan-allam-utilities-are-setting-up-usd-900-mn-worth-of-solar-power-plants-in-upper-egypt-plus-nahdet-misr-environmental-services-eyes-wte-projects-with-initial-usd-100-mn-invest\/\" 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\/09\/02\/masdar-infinity-hassan-allam-utilities-are-setting-up-usd-900-mn-worth-of-solar-power-plants-in-upper-egypt-plus-nahdet-misr-environmental-services-eyes-wte-projects-with-initial-usd-100-mn-invest\/')\">\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\/09\/02\/masdar-infinity-hassan-allam-utilities-are-setting-up-usd-900-mn-worth-of-solar-power-plants-in-upper-egypt-plus-nahdet-misr-environmental-services-eyes-wte-projects-with-initial-usd-100-mn-invest\/\">\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=Masdar, Infinity, Hassan Allam Utilities are setting up USD 900 mn worth of solar power plants in Upper Egypt. 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The companies will receive usufruct rights for the land in exchange for 2% of the energy produced. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But we might have actually heard about the project before: <\/strong>It remains unclear if the project is the same one the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/df14edc2-b089-4b19-9259-1c4724a140a1\/cabinet-approves-over-eur-1-bn-in-eu-funding\" style=\"\" rel=\"noopener\">cabinet approved in late August<\/a> \u2014 the consortium\u2019s 1.2 GW solar project and 240 MW\/hour of storage batteries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The consortium has a lot in the pipeline: <\/strong>It is currently working to set up a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9004f1a5-828c-4173-8adf-43dfa2bb3355\/\" style=\"\" rel=\"noopener\">USD 11 bn, 10 GW wind farm<\/a> in Sohag that is set to be one of the largest wind farms globally and the largest in Africa. Masdar is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/2482df05-d22a-40b2-b3e5-1da690069918\/%253cmark%253emasdar%253c%2Fmark%253e,-infinity,-and-eetc-finalize-agreement-for-ras-ghareb-wind-farm\" style=\"\" rel=\"noopener\">also working<\/a> with Infinity and the EETC to construct a 200 MW wind farm in Ras Ghareb. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- We have big renewable ambitions: <\/strong>The state <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d1a2b66-3c41-449b-934a-06d2b5f0d4ee\/the-roadmap-to-adding-28-gw-of-renewable-energy-to-the-country%25e2%2580%2599s-energy-mix\" style=\"\" rel=\"noopener\">plans to add 28 GW of renewable<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d1a2b66-3c41-449b-934a-06d2b5f0d4ee\/the-roadmap-to-adding-28-gw-of-renewable-energy-to-the-country%25e2%2580%2599s-energy-mix\" style=\"\" rel=\"noopener\">energy<\/a> to the country\u2019s energy mix over the next five to seven years and it wants to see 3-4 GW-worth of renewable energy projects go live and start feeding the national grid by next summer to fill the energy supply gap.<\/p>\n<p class=\"tag-border-left\">MORE WASTE-TO-ENERGY PROJECTS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Waste not, want not: <\/strong>Arab Contractors affiliate Nahdet Misr Environmental Services is looking to set up two waste-to-energy (WtE) projects in Alexandria, managing director Mohamed Abdelatif told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%D9%86%D9%87%D8%B6%D8%A9-%D9%84%D9%84%D8%AE%D8%AF%D9%85%D8%A7%D8%AA-%D8%A7%D9%84%D8%A8%D9%8A%D8%A6%D9%8A%D8%A9-%D8%AA%D8%B7%D9%85%D8%AD-%D9%81%D9%89-%D8%A5%D9%86%D8%B4%D8%A7%D8%A1-%D9%85\/\" style=\"\" rel=\"noopener\">Al M<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%D9%86%D9%87%D8%B6%D8%A9-%D9%84%D9%84%D8%AE%D8%AF%D9%85%D8%A7%D8%AA-%D8%A7%D9%84%D8%A8%D9%8A%D8%A6%D9%8A%D8%A9-%D8%AA%D8%B7%D9%85%D8%AD-%D9%81%D9%89-%D8%A5%D9%86%D8%B4%D8%A7%D8%A1-%D9%85\/\" style=\"\" rel=\"noopener\">al<\/a>. The first project will have initial investments of USD 100 mn and the company wants to set up the projects in partnership with China\u2019s TEDA Holding, according to Abdelatif. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>Nahdet Misr for Environmental Services is in talks with authorities to find the suitable plots for the projects. The company aims to commence work on the first project as soon as possible. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s doing what? <\/strong>TEDA Holding will fund the project, while Nahdet Misr will be responsible for providing the waste.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fresh incentives for WtE projects may also be on the way:<\/strong> The Environment Ministry is considering raising the feed-in tariff rate for WtE plants \u2014 the set price that the government pays for the electricity they generate \u2014 in a bid to make the sector more attractive to investors, Waste Management Regulatory Authority (WRMA) consultant Khaled Elfarra <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cddb654f-695e-48b6-bb71-2f45e6624b83\/waste-to-energy-projects-worth-up-to-usd-1.2-bn-could-be-coming-our-way-soon\" style=\"\" rel=\"noopener\">recently told Enterprise<\/a>. The proposed price increase would see the feed-in-tariff rate rise to around EGP 2.35\/Kwh \u2014 up from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b8e85f3-4abd-445e-8890-22baac2066c3\" style=\"\" rel=\"noopener\">EGP 1.40\/Kwh<\/a>, which hasn\u2019t changed since 2019. The tariff will fluctuate along with exchange rate fluctuations, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nahdet Misr isn\u2019t the only company gearing up to launch WtE projects in Egypt: <\/strong>We heard last month that the government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cddb654f-695e-48b6-bb71-2f45e6624b83\/%253cmark%253ewaste-to-energy%253c%2Fmark%253e-projects-worth-up-to-usd-1.2-bn-could-be-coming-our-way-soon\" style=\"\" rel=\"noopener\">is set to sign<\/a> contracts collectively worth up to USD 1.2 bn with eight local-foreign consortiums to produce a total of 1.7 bn Kw\/h of electricity from municipal solid waste across a number of governorates, according to Elfarra.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And the government wants WtE to play an important part in the country\u2019s energy mix: <\/strong>The government has long been planning to boost electricity generation from municipal waste, initially setting a target <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8df415c-5c63-489d-b8bc-a682c59a8ef4\/learning-to-love-wte\" style=\"\" rel=\"noopener\">back in 2020<\/a> of generating 300 MW of electricity from WtE projects by 2025.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hassan-allam-utilities\/\">Hassan Allam Utilities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/tens-of-ppp-projects-in-healthcare-tourism-and-education-up-for-grabs\/\">\r\n                            Tens of PPP projects in healthcare, tourism, and education up for grabs                        <\/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\/09\/02\/tens-of-ppp-projects-in-healthcare-tourism-and-education-up-for-grabs\/\" target=\"_blank\">\n                    Open in new tab                    <!-- 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/528.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"641751\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/tens-of-ppp-projects-in-healthcare-tourism-and-education-up-for-grabs\/528-jpg-23\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/528.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"528.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/528.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/528.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-641750\" class=\"content-area-description single-story post-641750 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam tag-gafi tag-healthcare tag-investment-watch tag-public-private-partnership tag-tourism 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\/9\/.4d43a28e-30a1-4ca8-9379-56a2eca58e2a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Attention, private sector platerts: <\/strong>The private sector has the chance to invest in the healthcare, tourism, education sectors through public-private partnerships (PPP), General Authority for Freezones (Gafi) head Hossam Heiba told <a target=\"_blank\" href=\"https:\/\/hapijournal.com\/2024\/09\/01\/%d8%ad%d8%b2%d9%85%d8%a9-%d9%81%d8%b1%d8%b5-%d9%84%d9%84%d8%b4%d8%b1%d8%a7%d9%83%d8%a9-%d9%85%d8%b9-%d8%a7%d9%84%d9%82%d8%b7%d8%a7%d8%b9-%d8%a7%d9%84%d8%ae%d8%a7%d8%b5-%d9%81%d9%8a-%d8%a7%d9%84%d8%b3\/\" style=\"\" rel=\"noopener\">Hapi Journal<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s on the table? <\/strong>Heiba pointed to 30 potential PPPs in the healthcare sector and 16 in the education sector. He also<font face=\"Arial\"> <\/font>mentioned that there is a large number of land plots available for PPPs in the tourism sector. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Healthcare: <\/strong>PPPs in the healthcare sector include the chance to set up an integrated medical city, 20 projects in exchange for exemption from the fees for usufruct rights, and the chance to develop and operate nine existing hospitals. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Education: <\/strong>The government plans to carry out the expansion of 16 universities in partnership with private sector players. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Tourism: <\/strong>Partnerships in the tourism sector include three projects in Sharm El Sheikh \u2014 a medical tourism resort, a cultural and commercial entertainment center, and a sports academy. The government is looking for a private player to set up a hotel, chalets, and recreational activities in Wadi El Natrun. The state will also offer seven plots in Sinai\u2019s Dahab for hotels under usufruct agreements and another three plots in Ras Sidr for the development of compounds and hotels, along with 11 plots in El Tor, another six in Fayoum, and some in Aswan. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More investment offerings are also in the pipeline: <\/strong>The Industrial Development Authority and Gafi will offer new industrial plots every three months, with local investors being the primary target for these plots. <\/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\/gafi\/\">GAFI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/public-private-partnership\/\">public-private partnership<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/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=\"641752\" 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=\"641752\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/the-future-of-b-investments-stake-in-gourmet-is-up-in-the-air\/\">\r\n                            The future of B Investments\u2019 stake in Gourmet is up in the air                        <\/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        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               \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/the-future-of-b-investments-stake-in-gourmet-is-up-in-the-air\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/68.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"641753\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/the-future-of-b-investments-stake-in-gourmet-is-up-in-the-air\/68-jpg-21\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/68.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"68.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/68.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/68.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-641752\" class=\"content-area-description single-story post-641752 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-b-investments tag-enterpriseam tag-gourmet tag-ma-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.c483af56-aa71-46b9-a479-d6d9405fef39.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>What\u2019s next for B Investments\u2019 stake in Gourmet? <\/strong>Private Equity firm B Investments is looking to either fully exit or increase its 53% stake in its subsidiary Gourmet \u2014 the parent company of high-end supermarket Gourmet Egypt \u2014 <a target=\"_blank\" href=\"https:\/\/hapijournal.com\/2024\/09\/01\/%d8%a8%d9%8a-%d8%a5%d9%86%d9%81%d8%b3%d8%aa%d9%85%d9%86%d8%aa%d8%b3-%d9%85%d9%86%d9%81%d8%aa%d8%ad%d8%a9-%d8%b9%d9%84%d9%89-%d8%ae%d9%8a%d8%a7%d8%b1%d9%8a-%d8%a7%d9%84%d8%b4%d8%b1%d8%a7%d8%a1-%d8%a3\/\" style=\"\" rel=\"noopener\">Hapi Journal<\/a> reports, citing unnamed sources. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This wasn't what we had initially heard:<\/strong> We heard at the end of last week that B Investments was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f452278-6f2d-43b0-ae8e-77549460d4b2\/b-investments-to-sell-up-to-30%2525-stake-in%253cmark%253e-gourmet%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">planning to sell<\/a> a 20-30% stake in Gourmet from an unconfirmed media report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another layer to the story: <\/strong>Gourmet founder <a target=\"_blank\" href=\"https:\/\/enterprise.press\/podcasts\/back-brink-gourmet-egypt-survived-float-egp\/\" style=\"\" rel=\"noopener\">Jalal Abu Ghazaleh<\/a> and owner of the remaining 47% stake has reportedly tapped EFG Hermes to manage the sale of a stake in the food retailing and manufacturing group this year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>B Investments could swing either way: <\/strong>B Investments may choose to purchase Abu Ghazaleh\u2019s stake in the company or it could offload its entire stake in the company, the sources said, adding that B Investments selling just a percentage of its stake in the company seems unlikely seeing as it would make it a minority owner.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Enterprise was not able to confirm the news<\/strong>, with representatives from EFG Hermes and B Investments refusing to comment on the matter when we reached out to them. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gourmet is a growing business: <\/strong>The high-quality food emporium was founded in 2006 and currently operates 19 branches, as well as a meat and poultry processing facility and ready-meal production factory. B Investments <a target=\"_blank\" href=\"https:\/\/bpepartners.com\/2018\/09\/19\/b-investments-announces-the-investment-of-egp-125-million-in-gourmet-group-of-companies\/\" style=\"\" rel=\"noopener\">acquired a 40% stake<\/a> in the company towards the end of 2018 at an estimated cost of EGP 65 mn, the acquisition was followed by a capital increase which pushed B Investments\u2019 stake in the company to 53%. Gourmet currently has a valuation of EGP 1.5 bn, Hapi Journal\u2019s source said. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/b-investments\/\">B Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gourmet\/\">Gourmet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"641754\" 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=\"641754\">\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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/pioneers-securities-dethrones-efg-hermes-to-top-the-egx-brokerage-league-table-in-august\/\">\r\n                            Pioneers Securities dethrones EFG Hermes to top the EGX brokerage league table in August                        <\/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\/09\/02\/pioneers-securities-dethrones-efg-hermes-to-top-the-egx-brokerage-league-table-in-august\/\" 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\/09\/02\/pioneers-securities-dethrones-efg-hermes-to-top-the-egx-brokerage-league-table-in-august\/')\">\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\/09\/02\/pioneers-securities-dethrones-efg-hermes-to-top-the-egx-brokerage-league-table-in-august\/\">\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=Pioneers Securities dethrones EFG Hermes to top the EGX brokerage league table in August&url=https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/pioneers-securities-dethrones-efg-hermes-to-top-the-egx-brokerage-league-table-in-august\/\">\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\/09\/02\/pioneers-securities-dethrones-efg-hermes-to-top-the-egx-brokerage-league-table-in-august\/&title=Pioneers Securities dethrones EFG Hermes to top the EGX brokerage league table in August\">\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=Pioneers+Securities+dethrones+EFG+Hermes+to+top+the+EGX+brokerage+league+table+in+August+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F09%2F02%2Fpioneers-securities-dethrones-efg-hermes-to-top-the-egx-brokerage-league-table-in-august%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\/09\/02\/pioneers-securities-dethrones-efg-hermes-to-top-the-egx-brokerage-league-table-in-august\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/400.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"641755\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/pioneers-securities-dethrones-efg-hermes-to-top-the-egx-brokerage-league-table-in-august\/400-jpg-42\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/400.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"400.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/400.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/400.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-641754\" class=\"content-area-description single-story post-641754 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-brokerage-league tag-capital-markets tag-efg-hermes tag-enterpriseam tag-mubasher-securities tag-pioneers-securities tag-thndr 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\/9\/.db24f183-1d5b-45e4-8fb3-381451dbd1ee.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pioneers Securities dethrones EFG Hermes: <\/strong>Pioneers Securities topped the EGX brokerage league table in August with a market share of 17.7%, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/44.pdf\" style=\"\" rel=\"noopener\">figures re<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/44.pdf\" style=\"\" rel=\"noopener\">leased by t<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/44.pdf\" style=\"\" rel=\"noopener\">he bourse (pdf)<\/a>. Rounding out the top five were EFG Hermes\u2019 brokerage arms (15.4%), Thndr Securities (7.3%), CIBC (5.6%), and Mubasher Securities (5.1%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>EFG Hermes had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e6e7c95-b802-48ad-a54c-0aec7d9154ff\/efg-hermes-tops-the-bourse%253cmark%253e-brokerage-league%253c%2Fmark%253e-table-in-june\" style=\"\" rel=\"noopener\">led the table<\/a> for 14 months in a row before Pioneers dethroned it. <\/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\/brokerage-league\/\">brokerage league<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mubasher-securities\/\">Mubasher Securities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pioneers-securities\/\">Pioneers Securities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/thndr\/\">Thndr<\/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=\"641756\" 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=\"641756\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/eastern-company-sees-income-rise-69-to-egp-4-bn-during-the-last-quarter-of-the-fiscal-year\/\">\r\n                            Egyptian tobacco giant Eastern Company sees income rise 69% to EGP 4 bn during the last quarter of the fiscal year                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/eastern-company-sees-income-rise-69-to-egp-4-bn-during-the-last-quarter-of-the-fiscal-year\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Revenues were up 103% y-o-y for the quarter, reaching EGP 6.7 bn, which the company attributed to a 28% y-o-y increase in sales.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For the full year: <\/strong>The company saw its net income rise 20% y-o-y to EGP 9.2 bn during the fiscal year 2023-2024. Revenues were up 15% y-o-y to EGP 20.4 bn thanks to a 14% y-o-y increase in cigarette sales. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It was a busy (fiscal) year for Eastern:<\/strong> UAE-based Global Investment Holding (GIH) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d42b0c32-513b-4c59-9cd3-ee95c9515f06\" style=\"\" rel=\"noopener\">became the largest shareholder<\/a> in the state-owned tobacco giant in November 2023 in a USD 625 mn transaction that marked the largest transaction of the state\u2019s privatization strategy since it was rebooted earlier in the year. A few months later in May 2024, US-based tobacco behemoth Phillip Morris <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ab73b9e2-68ca-40d4-a968-98b5513b3243\/philip-morris-snaps-up-14.7%2525-stake-in%253cmark%253e-eastern-company%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">acquired an indirect 14.7% stake<\/a> in Eastern from GIH.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dividends pay out:<\/strong> The company could pay a dividend of EGP 2.7 per share on its earnings for the year. The move is up for discussion during the company\u2019s next general assembly scheduled for 26 September. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eastern-company\/\">Eastern Company<\/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=\"641758 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=\"641758\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/641758\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-641758\" class=\"content-area-description single-story post-641758 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=\"641759\" 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=\"641759\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/egypts-address-to-the-un-security-council-on-the-gerd-dominated-airwaves-sunday\/\">\r\n                            Egypt\u2019s address to the UN Security Council on the GERD dominated airwaves Sunday                        <\/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\/09\/02\/egypts-address-to-the-un-security-council-on-the-gerd-dominated-airwaves-sunday\/\" 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 issue was covered at length in Ala Mas'ouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=o_Hi7ZL95z0\" style=\"\" rel=\"noopener\">watch, runtime: 4:52<\/a>) and Salaat El Tahrir (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=XQ1NZxW2E9E\" style=\"\" rel=\"noopener\">watch, runtime: 2:06<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cEthiopia's recent provocations and unilater<\/strong><strong>al actions require Egypt to take action,<\/strong> including through the possible use of a range of strong diplomatic measures, such as addressing the African Union on this issue,\u201d former assistant foreign minister Mohamed Hegazy told Ahmed Moussa on Ala Mas'ouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=6MLXq9prB5Q\" style=\"\" rel=\"noopener\">watch, runtime: 14:44<\/a>). Hegazy called on Egypt and Sudan to consider establishing an organization for downstream countries, adding, \u201cEthiopia has ignored the Declaration of Principles signed in 2015.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The three countries have been unable to agree on how to divvy out the Nile\u2019s water resources following the construction of the USD 4.6 bn dam, which Egypt says presents an existential threat to its water security. Central to the dispute is the timetable for filling the GERD\u2019s reservoir and how much water Ethiopia will release as the dam becomes operational. Ethiopia has been unilaterally filling the reservoir over the past three years without a binding agreement, angering Cairo which in 2021 pulled out of African Union-led negotiations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO ON THE AIRWAVES-<\/strong><strong> The Finance Ministry has decided to conduct a de<\/strong><strong>tailed<\/strong><strong> inventory and review of all vehicles released for people with disabilities<\/strong> across the country to ensure that those eligible for customs exemptions are the ones using the vehicles, Azza Mostafa said on her program El Sa\u2019a El Sadesa (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=Nr9N_fDbU8s\" style=\"\" rel=\"noopener\">watch, runtime: 4:43<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe main reason for the decision is the detection of numerous violati<\/strong>ons, including the use of vehicles by individuals without disabilities,\u201d Egyptian Automotive Dealers Association head Osama Abo El Magd told Mostafa. El Magd explained that \u201csome such individuals purchase letters for vehicles designated for people with disabilities, which are fully exempt from customs duties, in exchange for amounts ranging between EGP 50-70k.\u201d El Magd added that violators could face penalties including the confiscation of the vehicle and fines of approximately EGP 30k, in addition to paying the full amount of customs duties.<\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"641761\" 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=\"641761\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/bustling-summer-evenings-are-the-latest-casualty-of-our-economic-and-energy-struggles\/\">\r\n                            Bustling summer evenings are the latest casualty of our economic and energy struggles                        <\/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\/09\/02\/bustling-summer-evenings-are-the-latest-casualty-of-our-economic-and-energy-struggles\/\" 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\/09\/02\/bustling-summer-evenings-are-the-latest-casualty-of-our-economic-and-energy-struggles\/')\">\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\/09\/02\/bustling-summer-evenings-are-the-latest-casualty-of-our-economic-and-energy-struggles\/\">\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=Bustling summer evenings are the latest casualty of our economic and energy struggles&url=https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/bustling-summer-evenings-are-the-latest-casualty-of-our-economic-and-energy-struggles\/\">\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\/09\/02\/bustling-summer-evenings-are-the-latest-casualty-of-our-economic-and-energy-struggles\/&title=Bustling summer evenings are the latest casualty of our economic and energy struggles\">\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=Bustling+summer+evenings+are+the+latest+casualty+of+our+economic+and+energy+struggles+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F09%2F02%2Fbustling-summer-evenings-are-the-latest-casualty-of-our-economic-and-energy-struggles%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\/09\/02\/bustling-summer-evenings-are-the-latest-casualty-of-our-economic-and-energy-struggles\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/83.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"641762\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/bustling-summer-evenings-are-the-latest-casualty-of-our-economic-and-energy-struggles\/83-jpg-40\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/83.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"83.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/83.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/83.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-641761\" class=\"content-area-description single-story post-641761 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news 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\/9\/.5e43df66-8038-4c4f-a121-ce35aeaa30b5.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Summer evenings were once a respite from the boiling heat and lethargy of Egypt\u2019s<\/strong><strong> midday summer hours<\/strong>, but amid ongoing economic difficulties and crackdowns on nighttime shopping, fun-filled summer nights have become the latest victim of Egypt\u2019s economic crisis, the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/09\/01\/world\/middleeast\/egypt-economic-crisis.html\" style=\"\" rel=\"noopener\">New York Times<\/a> reports. The paper takes an in-depth look at how businesses are faring as the early closing rules and hard economic times take a chunk out of their bottom lines.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Early closing times have hit small business hard<\/strong>, with the government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/454b221a-69a5-4435-864e-86f3fc55f90e\/government-pledges-to-end-power-cuts-by-third-week-of-july-with-usd-1.2-bn-set-aside-for-energy-imports-and-other-initiatives\" style=\"\" rel=\"noopener\">instituted a 10pm closing time<\/a> for all non-essential commercial businesses in July slashing footfall. But it\u2019s not just early closing times eating away at small businesses\u2019 bottom lines, writes the outlet, as there are now many consumers who simply cannot afford to keep up their previous consumption habits under the current economic climate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH NOTING FROM THE INT\u2019L PRESS: Continued CBE government lending<\/strong><strong> could end up doing more harm than good<\/strong>, say economists, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egypt-central-bank-expands-lending-government-inflation-slows-2024-08-29\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. The newswire takes a look at how an increase in central bank lending to the government in the last fiscal year is expanding the money supply, which in turn could put our current deflationary trajectory at risk and push the EGP to weaken against other currencies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>Money supply increased by 31.1% y-o-y by the end of the fiscal year 2023-2024, following a 33.4% y-o-y increase in FY 2022-23.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But its seems we\u2019re now on the right track<\/strong>, as \u201cmoney supply in percent year-on-year terms has slowed from its peak of nearly 50% in February, which may be adding to the momentum of price changes (such as the decline in food inflation) in driving the headline rate of inflation in Egypt down over the course of this year,\u201d Capital Economics\u2019 James Swanston told the newswire. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"641763\" 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=\"641763\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/mountain-view-begins-saudi-expansion-with-first-land-acquisition-in-the-kingdom-plus-hbs-international-mubasher-capital-nautix-orascom-construction-hitachi-colas-rail-samnoud-textiles\/\">\r\n                            Mountain View begins Saudi expansion with first land acquisition in the kingdom. PLUS: HBS International, Mubasher Capital, nauTix, Orascom Construction + Hitachi + Colas Rail, Samnoud Textiles                        <\/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\/09\/02\/mountain-view-begins-saudi-expansion-with-first-land-acquisition-in-the-kingdom-plus-hbs-international-mubasher-capital-nautix-orascom-construction-hitachi-colas-rail-samnoud-textiles\/\" 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\/09\/02\/mountain-view-begins-saudi-expansion-with-first-land-acquisition-in-the-kingdom-plus-hbs-international-mubasher-capital-nautix-orascom-construction-hitachi-colas-rail-samnoud-textiles\/')\">\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\/09\/02\/mountain-view-begins-saudi-expansion-with-first-land-acquisition-in-the-kingdom-plus-hbs-international-mubasher-capital-nautix-orascom-construction-hitachi-colas-rail-samnoud-textiles\/\">\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=Mountain View begins Saudi expansion with first land acquisition in the kingdom. 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/mountain-view-begins-saudi-expansion-with-first-land-acquisition-in-the-kingdom-plus-hbs-international-mubasher-capital-nautix-orascom-construction-hitachi-colas-rail-samnoud-textiles\/1572-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1572.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1572.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1572.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1572.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-641763\" class=\"content-area-description single-story post-641763 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-enterpriseam tag-healthcare tag-investment-watch tag-mountain-view tag-mubasher-securities tag-real-estate tag-saudi-arabia tag-takaful-and-karama tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.7cd9f724-06b3-4d75-abe4-a0e552ac5234.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">REAL ESTATE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Mountain View launches Saudi expansion with acquisition of Riyadh land plot:<\/strong> Egyptian real estate player Mountain View has acquired its first plot of land in a \u201cstrategic location\u201d in Riyadh in partnership with Saudi developers <a target=\"_blank\" href=\"https:\/\/maya.sa.com\/\" style=\"\" rel=\"noopener\">Maya Real Estate Development and Investment<\/a> and <a target=\"_blank\" href=\"https:\/\/www.alsaedan.com\/\" style=\"\" rel=\"noopener\">Al Saedan Real Estate<\/a>, marking the first step toward Mountain View\u2019s expansion into the kingdom, the company said in a statement.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Just the start, say Mountain View: <\/strong>The Riyadh acquisition will be followed soon by other land acquisitions in the kingdom, and it has its eyes on other neighboring markets, according to the developer.<\/p><p class=\"tag-border-left\">TRANSPORT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More details on the Metro Line 1 upgrades: <\/strong>The consortium of Orascom Construction, Hitachi, and French firm Colas Rail will start working on developing Metro Line 1 in October and for a 64-month period, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/34.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from Orascom Construction. The development will come with a EUR 800 mn price tag, which will be funded by the European Bank for Reconstruction and Development, the European Investment Bank, and the French Development Agency. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s doing what? <\/strong>Orascom Construction and Colas Rail will modernize the electric power supply, catenary, and electromechanical systems in stations, tunnels, and on the rail track. Meanwhile, Hitachi Rail will modernize the signaling, control, and telecom infrastructure.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>The consortium <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/074b28e4-4c6a-4250-8d0a-92baa8e26ef9\/kasrawy-group-mulling-new-factory-to-assemble-jetour,-jac-autos.-plus:-basata-%2B-madfoatcom,-dice-%2B-twin-top,-saint-gobain,-fertiglobe-%2B-orascom-construction-%2B-scatec,-siemens\" style=\"\" rel=\"noopener\">inked an agreement<\/a> with the National Tunnels Authority last week to take over the development project.<\/p><p class=\"tag-border-left\"> ENERGY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Electricity thieves, beware: <\/strong>The Electricity Ministry has increased the fine for electricity theft \u2014 it will be calculated based on the household\u2019s average consumption over the past 12 months according to the highest consumption bracket, according to a decision issued by the Egyptian Electric Utility and Consumer Protection Regulatory Agency.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Following the latest increase, the higher end of electricity tariffs for households sits between EGP 0.68 and EGP 2.23 per kWH.<\/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>Progress on the<\/strong><strong> Galala Marina: <\/strong>The Red Sea Ports Authority is set to ink the final contract with local marine retail chain <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/nautix-ltd\/\" style=\"\" rel=\"noopener\">nauTix<\/a> for the management, operation, and upgrading of the Galala Marina this month, a source close to the agreement told Enterprise. The Transport Ministry is currently reviewing the contracts ahead of giving them the greenlight, the source added.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The Red Sea Ports Authority <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8e263ec4-9e1a-4475-81a2-d8737429a1ca\/japan%25e2%2580%2599s-saraya-mulls-another-two-sczone-projects.-plus:-yacht-tourism,-city-lab-%2B-cairo-clinical-labs,-afreximbank,-instapay,-mermec,-kima,-exits,-eagles-fert,-sky-abu-dhabi,-azimut\" style=\"\" rel=\"noopener\">signed<\/a> an MoU with nauTix in July. The MoU grants the company a 15-year renewable contract for managing the marina, with a USD 10 mn investment planned over the next decade. The Transport Ministry will receive 60% of the income after two years.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Read more: <\/strong>We dove into all things Galala Marina and Egypt\u2019s goals to become a global yacht hotspot in a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0ab36a33-4f30-4a71-bd0f-811e8e629996\/egypt%25e2%2580%2599s-ambitions-to-become-a-global-yacht-hotspot-are-soon-to-get-a-boost\" style=\"\" rel=\"noopener\">HardHat<\/a> published earlier this summer.<\/p><p class=\"tag-border-left\"> ENERGY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>HBS to pump USD 65 mn into gas production in 2024:<\/strong> Tunisian-owned oil and gas company HBS International plans to invest USD 65 mn in gas development and production in the southwest El Alamein area of the Western Desert this year, <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1830280172127359368\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing an unnamed government official. The company is aiming to increase its gas production by 167% to 40 mn cubic ft per day by next October, up from 15 mn cubic ft per day currently.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is good news for the Oil Ministry:<\/strong> Prime Minister Moustafa Madbouly announced last month that the oil minister <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08f8054f-8a68-4f0d-a4bc-a647c1ca7739\/madbouly-announces-ambitious-renewables-plan,-tax-reforms\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08f8054f-8a68-4f0d-a4bc-a647c1ca7739\/madbouly-announces-ambitious-renewables-plan,-tax-reforms\" style=\"\" rel=\"noopener\">has<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08f8054f-8a68-4f0d-a4bc-a647c1ca7739\/madbouly-announces-ambitious-renewables-plan,-tax-reforms\" style=\"\" rel=\"noopener\">been tasked<\/a> with meeting with foreign energy players with the aim of boosting local production starting early 2025. After months of blackouts and then coughing up USD 1.2 bn to put a temporary halt to outages over the summer months, the government has been noticeably more proactive in its efforts to try to get local energy production rates back on the up.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Oil Ministry is hoping that incentives can persuade energy players to up production<\/strong><strong> and investment: <\/strong>Last week, the government announced its intention to commit to monthly payments to foreign oil and gas companies in addition to offering foreign companies higher prices for the gas that they produce from their concessions on the provision they increase output <\/p><p class=\"tag-border-left\"> INVESTMENT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mubasher has big plans for next year:<\/strong> Mubasher Capital plans to launch six new investment funds next year, the firm\u2019s regional head of investment Abdel Moneim Omran told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/09\/01\/1822070\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The set of funds will include a healthcare fund, an education-focussed fund, a real estate-focussed fund, a shariah-compliant investment fund, and a fund that tracks EGX indexes. The company also has plans to launch regional funds over the coming two years. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also in the pipeline: <\/strong>Mubasher plans to launch two funds this year that include a gold fund with Evolve Investment Holding \u2014 it is waiting for the greenlight from the Financial Regulatory Authority after submitting a request to launch the fund \u2014 and a USD fixed-income fund.<\/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>El Sisi directs gov\u2019t to add 8.5 mn individuals to national health ins. program:<\/strong> An additional 8.5 mn beneficiaries of Takaful and Karama and informal workers in the construction sector will be added under the national health ins. umbrella per a directive from President Abdel Fattah El Sisi covered in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/Vbz6CYrsA1hoXLnq\/\" style=\"\" rel=\"noopener\">statement<\/a> from the presidency. The additional workers are expected to cost the state some EGP 10 bn per year, with the government considering how to include more irregular workers in coming phases of the ins. program\u2019s expansion.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Improving healthcare is a key aim of the new Madbouly cabinet for the coming three years, with the government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/60fef4bb-7de6-4a00-bf5a-e9ea88661f8e\/the-new-cabinet%25e2%2580%2599s-goals-for-the-next-three-years-and-how-they-can-be-achieved\" style=\"\" rel=\"noopener\">planning to expand<\/a> health ins. coverage to reach 85% of the population by 2026-2027.<\/p><p class=\"tag-border-left\"> LABOR-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Workers at Samnoud Textiles<\/strong><strong> continue their strike <\/strong><strong>in a bid to push the company to institute the<\/strong><strong> government-mandated minimum wage,<\/strong> <a target=\"_blank\" href=\"https:\/\/english.ahram.org.eg\/NewsContent\/3\/14\/531105\/Business\/Markets--Companies\/Workers-at-Samnoud-Textiles-strike-to-demand-imple.aspx\" style=\"\" rel=\"noopener\">Ahram Online<\/a> reports. The company rejected the workers\u2019 demands Thursday, instead offering one-time bonuses of between EGP 100-200 \u2014 an offer that workers, in turn, rejected as insufficient to address soaring inflation and the rising cost of living. The company\u2019s management has requested an exemption from the requirement from the relevant state authorities and is waiting for a decision from the Complaints Committee of the National Council for Wages.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The National Council for Wages announced that it would be <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb8c9cf7-08f3-480e-b120-d394e41f0291\/happy-eid-al-fitr\" style=\"\" rel=\"noopener\">raising the minimum<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb8c9cf7-08f3-480e-b120-d394e41f0291\/happy-eid-al-fitr\" style=\"\" rel=\"noopener\">wage for private sector workers<\/a> from EGP 3.5k to EGP 6k a month starting May. <\/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 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data-image-title=\"87.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/87.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/87.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-641765\" class=\"content-area-description single-story post-641765 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-interest-rates tag-planet-finance 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\/9\/.5b4a099c-d99b-4a67-b091-b48e5a374aed.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>This coming <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bls.gov\/schedule\/news_release\/empsit.htm\" style=\"\" rel=\"noopener\">Friday\u2019s US payroll data<\/a><\/strong><strong> will be very closely watched by folks <\/strong><strong>looking for data points that build the case for the US Federal Reserve to start cutting interest rates<\/strong> when it meets later this month, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a14ba5c1-97d6-49df-9fdc-e6388c528f9a\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. Economists think the US economy added 163k jobs in August, and with Fed boss Jay Powell\u2019s emphasis on the risks of a weaker labor market, \u201cpayrolls are going to be a huge number for the markets as well as the Fed,\u201d Kevin Flanagan, head of fixed income strategy at WisdomTree told the salmon-colored paper.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Powell has signaled that \u201cthe time has come for policy to adjust,\u201d citing cooling inflation and slowing job growth as he <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/30d7f207-f451-4bfc-9a81-c8b6a2894672\/%253cmark%253efed%253c%2Fmark%253e-chief-signals-september-rate-cut-as-economic-risks-shift\" style=\"\" rel=\"noopener\">foreshadowed a rate cut<\/a> this month.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pundits see the Fed going for a 25 bps rate cut<\/strong>, with a 30% chance of a deeper reduction, according to the CME\u2019s FedWatch tool. However, softer labor data could result in a 50 bps rate cut, according to brokerage <a target=\"_blank\" href=\"https:\/\/www.fpmarkets.com\/blog\/week-ahead-us-labour-data-and-the-boc-rate-announcement-in-focus\/\" style=\"\" rel=\"noopener\">FP Markets<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Weaker data could reignite recession fears:<\/strong> July\u2019s data of only 114k new jobs fell substantially short of the 175k new jobs forecast, helping spark a global market sell-off. A softer August labor figure could stoke fears of a sharper economic slowdown \u2014 and tip the scales towards a 50 bps rate.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some beg to differ:<\/strong> Despite expectations of lower payroll data, some economists are on the fence about whether it will opt for the higher rate cut. \u201cNon-farm payroll growth from April 2023 to March 2024 looks to be softer than first thought, but not worryingly so. That supports our view that when the Fed cuts interest rates it will do so in 25bp [basis points] steps, rather than a larger 50 bps cut,\u201d North America economist at Capital Economics Olivia Cross wrote in a note to investors, <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/business\/article\/2024\/aug\/21\/us-job-market-employment-numbers#:~:text=%E2%80%9CNon%2Dfarm%20payroll,note%20to%20investors.\" style=\"\" rel=\"noopener\">The Guardian<\/a> reports.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CIRCLE YOUR CALENDAR- The Fed\u2019s Open Markets Committee <\/strong>is next set to meet 17-18 September.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,903<\/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: +24.1%)<\/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>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 48.50<\/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 48.64<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB<\/strong><strong>)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 48.53<\/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 48.63<\/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\">12,189<\/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: +1.9%)<\/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\">9,285<\/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: -3.1%)<\/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>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\">4,325<\/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: +6.5%)<\/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>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\">5,648<\/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: +18.4%)<\/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>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\">8,377<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +8.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,958<\/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: +9.7%)<\/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 76.93<\/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 2.13<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,527.60<\/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\">-1.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 58,432.20<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9% (YTD: +38.3%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 0.4% at yesterday\u2019s close<\/strong> on turnover of EGP 5.9 bn (54.9% above the 90-day average). Regional investors were the sole net buyers. The index is up 24.1% 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 (+8.2%), Abu Qir Fertilizers (+5.0%), and Beltone Holding (+4.0%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Ezz Steel (-4.3%), Cleopatra Hospitals (-2.4%), and ADIB (-1.3%).<\/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- <\/strong><strong>City Lab<\/strong><strong> now has until 15 September to complete its fair value study of acquisition<\/strong><strong> target Cairo Clinical Labs<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/36.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. In July, City Lab <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8e263ec4-9e1a-4475-81a2-d8737429a1ca\/japan%25e2%2580%2599s-saraya-mulls-another-two-sczone-projects.-plus:-yacht-tourism,%253cmark%253e-city%253c%2Fmark%253e%253cmark%253e-lab%253c%2Fmark%253e-%2B-cairo-clinical-labs,-afreximbank,-instapay,-mermec,-kima,-exits,-eagles-fert,-sky-abu-dhabi,-azimut\" style=\"\" rel=\"noopener\">appointed<\/a> the Financial Advice Corporate Transactions (FACT) as independent financial advisor to provide a second opinion on Cairo Clinical Labs. <\/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- Sidi Kerir Petrochemicals is increasing its issued and paid-up capital <\/strong>to EGP 1.8 bn from EGP 1.5 bn after its extraordinary general assembly greenlit the move, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/65.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\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    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wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"641768\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/how-are-the-caps-on-tuition-hikes-impacting-private-intl-schools\/76-jpg-28\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/76.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"76.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/76.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/76.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-641767\" class=\"content-area-description post-641767 blackboard type-blackboard status-publish has-post-thumbnail hentry category-blackboard tag-blackboard tag-education tag-education-ministry tag-enterprise-blackboard tag-enterpriseam 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>How are private, int\u2019l <\/strong><strong>schools naviga<\/strong><strong>ting the caps on tuition hikes? <\/strong>The Education Ministry last week <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c00183c3-8d39-4456-a753-56f269e468b1\/%253cmark%253eeducation%253c%2Fmark%253e-ministry-maintains-last-year%25e2%2580%2599s-caps-on-tuition-hikes-at-private,-int%25e2%2580%2599l-schools\" style=\"\" rel=\"noopener\">announced<\/a> that it will keep the limits up to which private and international schools were permitted to raise their tuition fees in effect for the 2024-2025 academic year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> The Education Ministry in September 2023 introduced a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2de40628-d658-4201-8dcb-37aaf20fc6f0\" style=\"\" rel=\"noopener\">tiered system of caps<\/a> on tuition fee increases at private and international schools, with higher-priced schools facing tighter limits. The tiered system expanded upon an earlier 7% fee cap following years of lobbying by schools to revise the cap in light of rising inflation and the EGP devaluation. The initial cap was introduced in 2017 and imposed for the first time in the 2019-2020 academic year after parents lobbied to end what they called unjust increases.<\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>#1- For international schools-<\/strong><\/p>\n<ul>\n<li><strong>Up to 10%<\/strong> for schools charging <strong>EGP 30k-50k<\/strong>;<\/li>\n<li><strong>Up to 8%<\/strong> for schools charging <strong>EGP 50k-80k;<\/strong><\/li>\n<li><strong>Up to 7%<\/strong> for schools charging <strong>EGP 80k-120k;<\/strong><\/li>\n<li><strong>Up to 6%<\/strong> for schools charging <strong>EGP 120k-200k;<\/strong><\/li>\n<li><strong>Up to 5%<\/strong> for schools charging <strong>over EGP 200k.<\/strong><\/li>\n<\/ul>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>#2- For private Arabic and language schools-<\/strong><\/p>\n<ul>\n<li><strong>Up to 25%<\/strong> for schools charging less than <strong>EGP 5k;<\/strong><\/li>\n<li><strong>Up to 20%<\/strong> for schools charging <strong>EGP 5k-10k;<\/strong><\/li>\n<li><strong>Up to 15%<\/strong> for schools charging <strong>EGP 10k-15k;<\/strong><\/li>\n<li><strong>Up to 12%<\/strong> for schools charging<strong> EGP 15k-20k;<\/strong><\/li>\n<li><strong>Up to 10%<\/strong> for schools charging <strong>EGP 20k-25k;<\/strong><\/li>\n<li><strong>Up to 7%<\/strong> for schools charging <strong>EGP 25k-35k;<\/strong><\/li>\n<li><strong>Up to 6%<\/strong> for schools charging <strong>over EGP 35k.<\/strong><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Exceptions:<\/strong> Schools that fall outside of the ministry\u2019s purview \u2014 among them institutions owned by associations and other bodies, such as CAC, MBIS, and BISC \u2014 are not impacted by the caps.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale:<\/strong> The Education Ministry is aware of how inflationary pressures are impacting private and international schools, but tuition increases that match the current inflation rate would put a lot of pressure on Egyptian families, a source from the ministry told Enterprise. While taking the decision, the ministry was sure to maintain a balance between the financial capabilities of families and schools\u2019 need to raise fees, the source said, explaining that schools that offer additional services and activities on top of educational services are most impacted by the decision, seeing as their operational costs are much higher than the rest. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some say the permitted increases are insufficient:<\/strong> Players in the education sector we spoke to agreed that the allowed increases are significantly below inflation rates and fail to meet the needs of those operating in the sector \u2014 however, they expressed their respect for the decision and its implementation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the government\u2019s decision was expected<\/strong>, Private School Owners Association Deputy Chairman Badawy Allam tells us, with the association having called for the continuation of the tiered system with exceptions for schools whose fees fall under EGP 10k. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Parents were unhappy with the decision:<\/strong> There was significant backlash from parents over the decision, Allam said. Parents want the increases to stop altogether. However, Allam emphasized that schools, like other businesses, have a lot of financial responsibilities that have been impacted by inflation like utilities, salaries, and maintenance fees, and that the rising prices have affected all sectors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>International schools in particular were disappointed with the decision:<\/strong> The increases fell short of the hopes of international school operators, for which tuition fees comprise around 90% of revenues, British International College of Cairo CEO Ahmed Samir told Enterprise. Additionally, the profit margin from books, activities, and uniforms has dropped as inflation continues to rise, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Schools will have to rethink their spending:<\/strong> Schools will have to cut down on their annual maintenance fees, Samir continued, adding that that decision will heavily impact schools\u2019 bottom lines and some could even incur losses. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And then there\u2019s the issue of salaries:<\/strong> School owners have requested an exemption from immediately complying with the new minimum wage for teachers and staff, Allam said, adding that they will be raising their wages gradually over a few years until they meet the minimum wage. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Schools will also resort to slashing raises: <\/strong>Schools have cut down on their plans to raise salaries and turned down foreign teachers\u2019 requests for raises \u2014 a move which saw a lot of them resign, Samir said. Foreign teachers are paid the EGP equivalent of between GBP 2-3k, a sum that has become a huge burden on school operators especially following the float of the EGP. <\/p>\n<p class=\"tag-border-left\">TO KEEP INVESTORS INTERESTED- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The turbulence international schools are witnessing is scaring away investors: <\/strong>The government needs to engage in dialogue with investors in the education sector to determine their needs. Current circumstances have pushed away potential new investors in the sector, Samir said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investors need incentives \u2014 and assurance:<\/strong> Investors need to be sure of the sector\u2019s profitability ahead of pouring any funds into it, those we spoke to said. Samir also mentioned a range of incentives that could reel investors in, like tax breaks, reduced utility costs, more affordable land, and a cut down on restrictions in the sector. Meanwhile, Allam proposed scrapping the obligatory 1% of annual revenue that schools now need to pay to the government\u2019s Support Education Fund, adding that it could instead be taken from a company\u2019s bottom line rather than its overall revenue. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Things need to change and quickly: <\/strong>Samir expressed concern that inflationary pressures, exchange rate instability, and lack of incentives may lead to the withdrawal of several investors from the sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>New Egyptian curricula in international schools:<\/strong> Education Minister Mohamed Abdellatif issued a decision this week putting forward new regulations regarding the implementation of Egyptian curricula in international schools, including Arabic, religious studies, history, and social studies.<\/li>\n<li><strong>E-finance has launched a number of financial services for parents and students to<\/strong><strong> usher in the new school year,<\/strong> <a target=\"_blank\" href=\"https:\/\/gate.ahram.org.eg\/News\/4960160.aspx\" style=\"\" rel=\"noopener\">Al Ahram<\/a> reports. The state-owned fintech player\u2019s services for the education sector include a payment platform for school fees, the provision of widespread payment points, and a centralized system for collecting and tracking school expenses.<\/li>\n<li><strong>The government has plans to expand the network of Japanese schools in the<\/strong><strong> country to 1.7k<\/strong> by the end of the fiscal year 2026-2027, according to a Planning and International Cooperation Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0MqwC2ht1rG3G5MLVfzkFFBjP1sh3udcZaLcFcEebjPfsG1kG3qRNjRFRb34WcHPml?rdid=t5XMpnfryRfqQLyQ\" style=\"\" rel=\"noopener\">statement<\/a>. There are also plans to set up 62 Japanese technological and vocational schools by then. <\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/blackboard\/\">Blackboard<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education-ministry\/\">Education Ministry<\/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=\"641769\" 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\/09\/02\/641769\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-641769\" class=\"content-area-description single-story post-641769 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-3 September (Monday-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 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>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>4-5 September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02tUzxgpkPAopRnfdNVEdzFHkRiyKDp8swAdjwaQxyYqQZQyKYj4tqdwXb5Md6BHbgl\" style=\"\">The US-Egypt Joint Economic Committee<\/a><\/span><span style=\"font-weight:400;\"> meeting, Washington.<\/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;\">9 September (Monday): Egyptian delegation to visit Iraq. <\/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;\">10 September (Tuesday): The fifth edition of technology conference Tech Invest will take place.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10 September (Tuesday): Finance Minister Ahmed Kouchouk to speak at <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.amcham.org.eg\/cyberlink\/events\/register\/1854\" style=\"\">AmCham luncheon<\/a><\/span><span style=\"font-weight:400;\">, Nile Ritz Carlton, 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;\">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 style=\"font-weight:400;\">16 September (Monday): Egypt-UK Investment and Opportunities Forum, London. <\/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 style=\"font-weight:400;\">10-12 October (Thursday-Saturday): The FinExpo Conference and Exhibition, 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>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>PPP aplenty | To sell or not to sell? | All roads lead to Riyadh | Tuition fee hikes bite<\/p>\n","protected":false},"featured_media":641743,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-641742","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"6ebd36e1-34ec-49cd-8397-ca9bdbd5864b","teaser":"PPP aplenty | To sell or not to sell? | All roads lead to Riyadh | Tuition fee hikes bite","photo_url":"https:\/\/ent.news\/2024\/7\/1170.jpg"},"yoast_head":"<!-- This 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