{"id":641822,"date":"2024-09-03T00:00:00","date_gmt":"2024-09-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=641822"},"modified":"2025-12-17T17:47:14","modified_gmt":"2025-12-17T17:47:14","slug":"central-bank-of-egypt-seen-keeping-rates-unchanged-enterprise-poll","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/central-bank-of-egypt-seen-keeping-rates-unchanged-enterprise-poll\/","title":{"rendered":"Central Bank of Egypt seen keeping rates unchanged -Enterprise poll"},"content":{"rendered":"<section id=\"641824\" 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=\"641824\">\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\/03\/govt-mull-african-investor-focussed-freezone-to-boost-trade-with-the-continent\/\">\r\n                            Gov\u2019t mull African investor-focussed freezone to boost trade with the continent                        <\/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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data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/197.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/197.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-641824\" class=\"content-area-description single-story post-641824 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-africa tag-enterpriseam tag-investment-ministry tag-trade-and-industry-ministry tag-transport-ministry tag-what-were-tracking-today 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\/.d82cc827-ec2a-4068-acb0-0044e9d387f8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends<\/strong><strong>, and happy hump day. <\/strong>As we get ready for PMI data later this morning that will give us insight into the health of our non-oil private sector, El Sisi\u2019s trip to Turkey tomorrow, news of Chinese investments from Madbouly\u2019s trip this week to Beijing, and the central bank\u2019s decision on whether to cut interest rates at the end of the week, we\u2019ve got plenty of M&A news to keep us busy in the meantime.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue<\/strong>, we\u2019ve got an interest rate poll conducted by yours truly, M&A news aplenty, auto industry localization updates, and much, much more. We have a packed issue today, so let\u2019s jump right in.<\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt4\"><\/a> <strong>#1- An African investor-focussed freezone is in the cards:<\/strong> The industry, transport, and investment ministries are mulling the creation of a freezone for African investors as part of the government\u2019s long-term goal of increasing trade with the continent, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/09\/02\/1822706\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing unnamed sources. According to the outlet\u2019s sources, African investors are increasingly turning to countries with better-developed infrastructure to produce their goods, after which they re-export them to their home markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The new Madbouly cabinet has placed a special emphasis on increasing trade with the rest of Africa via the African Continental Freetrade Area (AfCFTA) \u2014 which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/03d44b60-52a0-42c4-ab0b-d1f04905e3dd\/iraq%25e2%2580%2599s-development-road-sees-progress-%2B%253cmark%253e-afcfta%253c%2Fmark%253e-gets-a-big-boost\" style=\"\" rel=\"noopener\">seems to be picking up steam<\/a> \u2014 and the COMESA. African exports will also be supported by new trade missions, with added support for companies targeting exports to Africa also on the cards.<\/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\"><a id=\"wwtt1\"><\/a> <strong>#2-<\/strong> <strong>Could we be in line for a wave of Indonesian investments? <\/strong>Indonesia plans to ink USD 3.5 bn worth of trade and investment agreements with African countries \u2014 with a particular focus on Egypt, Kenya, South Africa, and Nigeria \u2014 as it looks to expand its investment portfolio outside its usual trade partners, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-02\/indonesia-aims-to-sign-3-5-billion-in-deals-during-africa-forum\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing a senior diplomat, who singled out the gas, healthcare, and agriculture sectors. These agreements will be announced during the <a target=\"_blank\" href=\"https:\/\/iaf.kemlu.go.id\/\" style=\"\" rel=\"noopener\">Indonesia-Africa Forum<\/a> that will wrap up today, according to the country\u2019s Deputy Foreign Minister Pahala Mansury.<\/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\"><a id=\"wwtt2\"><\/a> <strong>#3- Fertilizer subsidy system set for a shakeup? <\/strong>Only eight crops \u2014 wheat, corn, soybeans, beets, sugarcane, cotton, rice, and sunflowers \u2014 will be eligible to receive subsidized fertilizers starting next year, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%D8%A7%D8%AA%D8%AC%D8%A7%D9%87-%D8%AD%D9%83%D9%88%D9%85%D9%89-%D9%84%D9%82%D8%B5%D8%B1-%D8%B5%D8%B1%D9%81-%D8%A7%D9%84%D8%A3%D8%B3%D9%85%D8%AF%D8%A9-%D8%A7%D9%84%D9%85%D8%AF%D8%B9%D9%85%D8%A9-%D8%B9\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports, citing unnamed sources it says have knowledge of the matter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Urea fertilizer producers have been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/775a4437-4324-44fc-ad0e-7c5b1a976ba7\/fertilizer-producers-are-pushing-to-almost-double-the-price-of-subsidized-fertilizers\" style=\"\" rel=\"noopener\">calling on the government<\/a> to give them the greenlight to almost double the prices for the 55% of their monthly output that they are obligated to sell on to the Agriculture Ministry to be distributed as subsidized fertilizers. The cost of production has skyrocketed in tandem with the float of the EGP and rising cost of natural gas \u2014 which represents about 65% of the raw materials used to create fertilizers.<\/p>\n<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>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#1- Will today be the day that the non-oil private sector activity break its 44-month streak in the red? <\/strong>S&P Global will publish Egypt\u2019s PMI figures for August later this morning 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, sitting just below the threshold that marks growth.<\/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\"><a id=\"wwtt5\"><\/a> <strong>#2- Madbouly heads to Beijing:<\/strong> Prime Minister Moustafa Madbouly will land in Beijing this morning to represent Egypt at the <a target=\"_blank\" href=\"http:\/\/www.focac.org\/eng\/\" style=\"\" rel=\"noopener\">Forum on China-Africa Cooperation<\/a> that will kick off tomorrow and run until Friday, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0sNMRtREyQDK2Gb9A6sLBNHAcHgKuk3BMCmEwpiTDJhQA9X3TgUqp46XLma3ZjvhPl\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We here at Enterprise will be on the look out for news of fresh Chinese investments: <\/strong>In addition to attending the forum, Madbouly is also expected to meet with Chinese officials and business leaders. The prime minister is set to ink a number of MoUs and contracts related to investments in the Suez Canal Economic Zone and the Egyptian telecommunications sector, the statement notes without providing any further details.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Madbouly is also booked in to speak at the forum: <\/strong>On the docket for the visit are a number of high-level sessions, with Madbouly expected to give a speech for a session entitled Industrial Transformation, Agricultural Modernization, and Green Development.<\/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>#3- It\u2019s the second and final day of <\/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> Mechants, enterprises, and SMEs in the e-commerce space as well as players in the fintech, banking, and retail sectors will be gathering for the last day of the event today \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&_gl=1*tj17hj*_ga*MTA0MTQ2Nzg5MC4xNzI0MTQwOTI2*_ga_8ZVPFLKW76*MTcyNDE0MDkyNS4xLjEuMTcyNDE0MjAzMy42MC4wLjA.*_gcl_au*MTk5NDA3MDI4OS4xNzI0MTQwOTI4\" style=\"\" rel=\"noopener\">here<\/a>.<\/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>#4- We have lift off at the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.egypt-air-show.com\/\" style=\"\" rel=\"noopener\">Egypt International Airshow<\/a><\/strong>, which is entering its first day in El Alamein today The event will cover all things aviation from now until Thursday \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>\n<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<\/p><\/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>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">AT THE CENTRAL BANK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bond bonanza ahead of upcoming interest rate meeting on Thursday:<\/strong> The Central Bank of Egypt sold some EGP 23.2 bn of EGP-denominated three-year treasury bonds yesterday \u2014 over 3.5 times its target of EGP 5 bn \u2014 according to <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/auctions\/egp-t-bonds-fixed-coupon\" style=\"\" rel=\"noopener\">data<\/a> from the bank. The bonds carry an average interest rate of 25.2%, down slightly from 25.3% in the previous auction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Earlier this month, foreign investors sold some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/60390891-c174-441a-b328-f626cfab46de\/foreign-investments-in-egypt%25e2%2580%2599s-t-bills-were-up-again-in-may-for-third-consecutive-month-following-egp-float\" style=\"\" rel=\"noopener\">USD 600 mn<\/a> worth of local debt instruments \u2014 7-8% of total foreign investment in the market, according to Prime Minister Moustafa Madbouly \u2014 amid a global sell-off that wiped USD 6.4 tn from global stock markets. While the CBE doesn\u2019t report what portion of treasury purchases are made by foreign investors, strong demand for our long-term debt likely signals higher investor confidence in the economy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PSA- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s another late summer day in Cairo today<\/strong>, with a high of 35\u00b0C and a low of 27\u00b0C, according to our favorite weather app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s only a little cooler in Alexandria and along the North Coast<\/strong>, with a high of 33\u00b0C and a low of 24\u00b0C.<\/p>\n<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>\n<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>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CIRCLE YOUR CALENDAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Upper Egypt-focussed startup accelerator Athar is showcasing ten green startups<\/strong> from its Climate Action Accelerator program this Thursday in Minya. Athar is also set to launch its Green Manifesto during the event. You can RSVP to attend <a target=\"_blank\" href=\"https:\/\/docs.google.com\/forms\/d\/e\/1FAIpQLSd1RDv8-xvqThuDFzeUX6cw5diguNUrBDrZbHRGZRxwD5qFyw\/viewform\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Developments related to the war in Gaza remain the main item across most international<\/strong><strong> headlines, <\/strong>as Israeli prime minister Benjamin Netanyahu holds out on his added conditions for a ceasefire agreement with Hamas amid ongoing mass Israeli protests and news that the UK is halting some arms exports to the country.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Netanyahu continues to reject increasingly vehement calls from the Israeli street and<\/strong><strong> international community to reach a ceasefire agreement with Hamas, <\/strong>saying yesterday that <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/netanyahu-says-israel-must-control-philadelphi-corridor-gaza-2024-09-02\/\" style=\"\" rel=\"noopener\">maintaining an Israeli troop presence<\/a> in the Philadelphi corridor on the border between Gaza and Egypt remains a non-negotiable condition for an agreement. The comments come as a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/152.jpg\" style=\"\" rel=\"noopener\">general strike<\/a>, ongoing protests, and public spats in the Israeli cabinet continue to roil an increasingly <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israeli-labour-strike-push-gaza-hostage-deal-disrupts-flights-buses-2024-09-02\/\" style=\"\" rel=\"noopener\">divided country<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, the UK is banning the sale of some arms to Israel <\/strong>\u2014 including aircraft components \u2014 that risk being used in Israeli actions that <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/bac169fb-4d28-4729-85e8-a13a197b0368\" style=\"\" rel=\"noopener\">seriously violate international law<\/a>. The suspension constitutes the first such action by a major ally of Israel since the war\u2019s inception. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While over in int\u2019l business news, Volkswagen is considering <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f32c172b-d5e9-4397-8831-c61987380e6d\" style=\"\" rel=\"noopener\">closing factories<\/a><\/strong><strong> in Germany for<\/strong><strong> the first time in its 87-year history,<\/strong> with potential to renege on a promise to not cut jobs in Germany until 2029. The move comes as the car-maker has <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/volkswagen-warns-possible-plant-closures-germany-2024-09-02\/\" style=\"\" rel=\"noopener\">struggled to cope<\/a> with a <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-02\/vw-plans-to-close-plants-in-germany-after-cost-cuts-fail-to-deliver?srnd=homepage-americas&embedded-checkout=true\" style=\"\" rel=\"noopener\">shrinking European and Chinese market<\/a> for its EVs as new competitors and cheaper models increasingly take center stage.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Plus, <\/strong><strong>Kamala <\/strong><strong>Harris has expressed her opposition to Japanese Nippon Steel\u2019s USD 15 bn<\/strong><strong> bid for US Steel<\/strong>, <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/harris-biden-election-2024-afd4b7fbd9d747e307a8fb5c1f60d5fa\" style=\"\" rel=\"noopener\">saying<\/a> at a campaign event late last night that the company \u201cshould remain owned and managed by Americans.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.hsbc.com\/news-and-views\/news\/hsbc-news-archive\/georges-elhedery-becomes-our-new-group-chief-executive\" style=\"\" rel=\"noopener\">Georges Elhedery<\/a><\/strong><strong> began his tenure as HSBC\u2019s new CEO yesterday,<\/strong> <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/hsbc-new-ceo-elhedery-committed-build-current-strategy-2024-09-02\/\" style=\"\" rel=\"noopener\">saying<\/a> in an internal memo that he plans to build on the bank\u2019s current strategy as the bank seeks to shift from restructuring to growth in the coming period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/239.jpg?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We look at what the state is doing to ensure we\u2019re on the right track to boosting the percentage of renewables in our energy mix.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-ministry\/\">investment ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade-and-industry-ministry\/\">Trade and Industry Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport-ministry\/\">Transport 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=\"641826 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=\"641826\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/03\/641826\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-641826\" class=\"content-area-description single-story post-641826 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><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\u2019s 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=\"641827\" 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=\"641827\">\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\">POLL<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/03\/cbe-expected-to-keep-interest-rates-unchanged-when-it-meets-on-thursday\/\">\r\n                            Egypt\u2019s central bank expected to keep interest rates unchanged when it meets on Thursday                        <\/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\/03\/cbe-expected-to-keep-interest-rates-unchanged-when-it-meets-on-thursday\/\" 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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All eight of the analysts and economists we surveyed see the Monetary Policy Committee (MPC) holding rates steady. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where rates currently stand:<\/strong> The overnight deposit rate stands at 27.25%, the overnight lending rate at 28.25%, and the main operation and disc. rates at 27.75%. The committee delivered <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac569e2c-c6f2-480e-bdaa-3f1cd4f81d05\" style=\"\" rel=\"noopener\">a 600 bps rate hike<\/a> following a surprise monetary policy meeting in March in conjunction with the float of the EGP and a larger loan package from the IMF being approved soon after. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rates have been stable since March: <\/strong>The central bank hasn\u2019t touched rates since its March rate hike \u2014 leaving them as is when <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dcf6e23c-70a9-499b-bb2c-467f1a22252b\/cbe-leaves-interest-rates-unchanged-in-line-with-expectations\" style=\"\" rel=\"noopener\">it met in May<\/a> and then again in its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8c2aa31e-24a6-41e8-9ec2-6cbbab9e2855\/egypt'\" style=\"\" rel=\"noopener\">July meeting<\/a> \u2014 citing its commitment to sustaining the current trajectory of inflation moderation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We aren\u2019t out of the woods just yet when it comes to inflation:<\/strong> Despite inflation being on a downward trend, \u201cprematurely cutting rates could exacerbate the problem of core inflation,\u201d economist Hany Abou El Fotouh tells us. \u201cOur view on macroeconomic developments is positive, as we expect a positive adjustment in Egypt's credit rating at the beginning of 2025, which requires controlling inflation and not rushing to lower interest rates,\u201d IBIS Consultancy economist Ali Metwally told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Annual urban inflation cooled to its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c404f58-2406-4138-bee3-3b59858bfa5f\/%253cmark%253einflation%253c%2Fmark%253e-falls-to-lowest-level-since-december-2022,-recording-of-25.7%2525-in-july\" style=\"\" rel=\"noopener\">lowest level since December 2022<\/a> in the last monthly data set, which showed annual inflation coming in at 25.7% in July, down 1.8 percentage points from 27.5% in June. Annual core inflation \u2014 which excludes volatile items such as food and fuel \u2014 slowed to 24.4%, down from 26.6%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A recent uptick in inflationary pressures may soon start making its mark: <\/strong>Some analysts see inflation picking up again in August after falling for five consecutive months on the back of recent price hikes. Metwally sees inflation in August and September rising to somewhere in the range of 30-31% between August and September. The favorable base effect played a crucial role in reducing inflation over the five months ending in July, but this will change for August, September, and October as these months will reflect the impact of increased <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/45d2052e-4c8d-4dde-b93c-8965df87dd03\/egypt-hikes-car%253cmark%253e-fuel%253c%2Fmark%253e-prices-by-up-to-15%2525\" style=\"\" rel=\"noopener\">fuel<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee45065d-b89b-4a1c-b514-4fc6ee8e1870\/gov%25e2%2580%2599t-to-hike-industrial%253cmark%253e-electricity-prices%253c%2Fmark%253e-this-month\" style=\"\" rel=\"noopener\">electricity<\/a> prices,\u201d Zilla Capital\u2019s Aya Zoheir told us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I<\/strong><strong>nflation aside<\/strong>, the MPC will also be taking ongoing geopolitical tension and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce01f29c-8a4e-43ba-ac77-91e06d5c9990\/%253cmark%253e%253c%2Fmark%253eimf%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eto%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ebegin%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253efourth%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eloan%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ereview%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eby%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eoctober%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eat%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ethe%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253elatest%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">IMF demands<\/a> into account when making its decision. \u201cThe central bank may adopt a more cautious approach and begin easing rates in 1Q 2025 if it sees a reason to do so in light of geopolitical tensions and their unpredictable developments,\u201d Al Ahly Pharos analyst Esraa Ahmed told Enterprise. There is also pressure from the IMF to continue with restrictive monetary and fiscal policies to keep inflation tamed, EGBank board member Mohamed Abdel Aal tells us. Abdel Aal also pointed to planned subsidy cuts, also courtesy of the IMF, and their impact on inflation, explaining that all of this will likely push the MPC to keep rates unchanged. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- We have an IMF loan review around the corner: <\/strong>The Fund is set to conduct the fourth review of our USD 8 bn loan program by the end of September or in October at the latest. The review, which was pushed back from its initial date in September, is set to unlock a USD 1.3 bn tranche.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All eyes on the Fed: <\/strong>Economist Mona Bedair sees the CBE continuing its wait-and-see approach even as the US Federal Reserves appears to be <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\">getting ready for a much-anticipated interest rate cut<\/a>. The Fed cutting rates will not pressure the CBE to start cutting rates as well, she added. \u201cIf the Fed cuts rates this month, the pressure on the EGP will ease and it will strengthen against the USD,\u201d Metwally said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So if not this week, when will the CBE start slashing rates? <\/strong>Analysts see the CBE easing monetary policy by late 2024 or early 2025. The bank may start cutting rates in its November or December meetings after we start to see the impact of fiscal reforms on inflation, Bedair said. Some see rate cuts happening later, including CI Capital\u2019s Sara Saada, who sees the bank kicking off its fiscal easing cycle in 1Q 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Reuters analysts agree:<\/strong> The median prediction of 15 analysts polled by <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/egypt-central-bank-seen-holding-interest-rates-steady-2024-09-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> was that the CBE will hold rate this Thursday, with just one analyst penciling a 100 bps rate cut. \u201cWe anticipate interest rates being left on hold by the CBE given inflation remains well above target,\u201d Capital Economics\u2019 James Swanston told the newswire. \u201cHowever, momentum is in the right direction and with a sharper fall anticipated in the headline rate in early 2025, attention will turn to when that first rate cut will be \u2014 for our part, we have penciled it in for 1Q 2025.\u201d <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                         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data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"641830\" 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=\"641830\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/03\/gcc-investors-want-a-stake-in-the-new-capitals-mount-international-school\/\">\r\n                            GCC investors want a stake in the new capital\u2019s Mount International School                        <\/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\/03\/gcc-investors-want-a-stake-in-the-new-capitals-mount-international-school\/\" 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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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"641831\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/03\/gcc-investors-want-a-stake-in-the-new-capitals-mount-international-school\/140-jpg-23\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/140.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"140.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/140.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/140.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-641830\" class=\"content-area-description single-story post-641830 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-basata tag-education tag-enterpriseam tag-financial-services tag-ma-watch tag-new-administrative-capital tag-real-estate 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\/.92dbd187-a77d-4496-8b4d-08e7a8628002.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>GCC investors want a slice of Mount International: <\/strong>A number of undisclosed Saudi and Emirati investors \u2014 investment funds and family businesses \u2014 are in negotiations to acquire a 40% stake in <a target=\"_blank\" href=\"https:\/\/misc-edu.com\/\" style=\"\" rel=\"noopener\">Mount International School Community<\/a> in a EGP 280 mn transaction, advisor <a target=\"_blank\" href=\"https:\/\/businesscitygroup.com\/\" style=\"\" rel=\"noopener\">Business City Group<\/a> \u2019s founder and vice CEO Ahmed Semeda told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%85%d8%a4%d8%b3%d8%b3%d8%a7%d8%aa-%d8%b3%d8%b9%d9%88%d8%af%d9%8a%d8%a9-%d8%a5%d9%85%d8%a7%d8%b1%d8%a7%d8%aa%d9%8a%d8%a9-%d8%aa%d8%b3%d8%aa%d8%b9%d8%af-%d9%84%d9%84%d8%a7%d8%b3\/\" style=\"\" rel=\"noopener\">A<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%85%d8%a4%d8%b3%d8%b3%d8%a7%d8%aa-%d8%b3%d8%b9%d9%88%d8%af%d9%8a%d8%a9-%d8%a5%d9%85%d8%a7%d8%b1%d8%a7%d8%aa%d9%8a%d8%a9-%d8%aa%d8%b3%d8%aa%d8%b9%d8%af-%d9%84%d9%84%d8%a7%d8%b3\/\" style=\"\" rel=\"noopener\">l Ma<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%85%d8%a4%d8%b3%d8%b3%d8%a7%d8%aa-%d8%b3%d8%b9%d9%88%d8%af%d9%8a%d8%a9-%d8%a5%d9%85%d8%a7%d8%b1%d8%a7%d8%aa%d9%8a%d8%a9-%d8%aa%d8%b3%d8%aa%d8%b9%d8%af-%d9%84%d9%84%d8%a7%d8%b3\/\" style=\"\" rel=\"noopener\">l<\/a>. The transaction should be finalized by the end of 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the school: <\/strong>Established in 2020 in the new capital\u2019s Mostakbal City, Mount International School Community offers IB, IG, and the American high school diploma. It was set up by brothers Diaa and Hossam El Din, who each own a 30% stake in the school. Shareholder Ihab Mounir owns the remaining 40%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How much is the school worth? <\/strong>The school is currently valued at some EGP 700 mn, Sameda said, adding that the valuation is expected to hit EGP 1.3 bn after carrying out expansion plans. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next for the school? <\/strong>The school wants to set up branches across New Cairo and a number of governorates during the next three years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This comes during a particularly turbulent time for the education sector<\/strong>, which is currently experiencing inflationary pressures, exchange rate instability, and lack of incentives. Private and international schools are also having to figure out how to position themselves after the Education Ministry decided to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/756b18e4-b6e2-4e5e-bd64-e354f396ebfc\/how-are-the-caps-on-tuition-hikes-impacting-private,-int%25e2%2580%2599l-schools%3F\" style=\"\" rel=\"noopener\">keep the limits<\/a> up to which they can raise their tuition fees for the upcoming academic year. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/basata\/\">Basata<\/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\/financial-services\/\">financial services<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-administrative-capital\/\">new administrative capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"641832\" 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=\"641832\">\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\/03\/thats-a-wrap-on-basatas-stake-acquisition-of-madfoatcom\/\">\r\n                            Egypt\u2019s Basata and Jordan Kuwait Bank wrap up 27.1% acquisition of MadfoatCom                        <\/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\" 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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\/03\/thats-a-wrap-on-basatas-stake-acquisition-of-madfoatcom\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1375.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"641833\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/03\/thats-a-wrap-on-basatas-stake-acquisition-of-madfoatcom\/1375-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1375.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1375.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1375.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1375.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-641832\" class=\"content-area-description single-story post-641832 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-basata tag-enterpriseam tag-fintech tag-jordan 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\/.d3b42d28-112d-4170-a0c9-4992e93f1c53.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Basata snaps up stake in MadfoatCom: <\/strong>Local fintech player Basata and the Jordan Kuwait Bank have acquired 27.1% of Jordanian bill payment provider <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/madfoatcom\/?originalSubdomain=jo\" style=\"\" rel=\"noopener\">MadfoatCom<\/a> for an undisclosed sum, <a target=\"_blank\" href=\"https:\/\/hapijournal.com\/2024\/09\/02\/%d8%a8%d8%b3%d8%a7%d8%b7%d8%a9-%d9%88%d8%a7%d9%84%d8%a8%d9%86%d9%83-%d8%a7%d9%84%d8%a3%d8%b1%d8%af%d9%86%d9%8a-%d8%a7%d9%84%d9%83%d9%88%d9%8a%d8%aa%d9%8a-%d9%8a%d8%b3%d8%aa%d8%ad%d9%88%d8%b0%d8%a7\/\" style=\"\" rel=\"noopener\">Hapi Journal<\/a> reported, citing unnamed sources. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Basata wanted more: <\/strong>The two buyers were 2.9 percentage points off their target to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/116a2c54-e0f8-48c8-8ab7-dcd66b0aeffe\/b-investments-granted-more-time-to-submit-mto-for-ofh.-plus:-agthia-ups-stake-in-abu-auf,-basata-acquires-jordanian-fintech-stake\" style=\"\" rel=\"noopener\">acquire up<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/116a2c54-e0f8-48c8-8ab7-dcd66b0aeffe\/b-investments-granted-more-time-to-submit-mto-for-ofh.-plus:-agthia-ups-stake-in-abu-auf,-basata-acquires-jordanian-fintech-stake\" style=\"\" rel=\"noopener\">to 30%<\/a> of the Jordanian company in a binding offer submitted in March.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But Basata may soon be back for more: <\/strong><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:%253cmark%253e-basata%253c%2Fmark%253e-%2B-madfoatcom,-dice-%2B-twin-top,-saint-gobain,-fertiglobe-%2B-orascom-construction-%2B-scatec,-siemens\" style=\"\" rel=\"noopener\">Unconfirmed reports last week<\/a> said Basata wants to eventually up its stake in the company to 49%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> <a target=\"_blank\" href=\"https:\/\/anistoncapital.com\/\" style=\"\" rel=\"noopener\">Aniston Capital<\/a> and <a target=\"_blank\" href=\"https:\/\/www.imara.com\/\" style=\"\" rel=\"noopener\">Imara Asset Management<\/a> were reportedly Basata\u2019s financial advisors on the transaction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Up next<\/strong><strong>:<\/strong> Basata is reportedly planning to expand into the Saudi market through MadfoatCom as it already has the necessary regulatory approval.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** We sat down with Basata Holding CEO Karim Shehata last month<\/strong> for our weekly My Morning Routine section. You can check out our interview <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/81b94e07-c7eb-4dd7-8db4-9bad737ac957\/my-morning-routine:-karim-shehata,-ceo-of%253cmark%253e-basata%253c%2Fmark%253e-holding\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/basata\/\">Basata<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jordan\/\">Jordan<\/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=\"641834 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=\"641834\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/03\/641834\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-641834\" class=\"content-area-description single-story post-641834 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.global\/en\/locations\/Egypt\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/674.png?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"641835\" 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=\"641835\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/03\/cairo-housing-and-parent-company-eye-raising-stake-in-united-housing-to-90-through-mto\/\">\r\n                            Cairo Housing and parent company eye raising stake in United Housing to 90% through MTO                        <\/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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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\/03\/cairo-housing-and-parent-company-eye-raising-stake-in-united-housing-to-90-through-mto\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/539.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"641836\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/03\/cairo-housing-and-parent-company-eye-raising-stake-in-united-housing-to-90-through-mto\/539-jpg-31\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/539.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"539.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/539.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/539.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-641835\" class=\"content-area-description single-story post-641835 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam tag-ma-watch tag-real-estate 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\/.5195e6d2-467c-44f2-a5d4-313bc0454b7c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Cairo Housing wants in on United Housing: <\/strong>EGX-listed real estate player <a target=\"_blank\" href=\"https:\/\/www.cairo-housing.com\/\" style=\"\" rel=\"noopener\">Cairo<\/a><a target=\"_blank\" href=\"https:\/\/www.cairo-housing.com\/\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.cairo-housing.com\/\" style=\"\" rel=\"noopener\">Housing and Developme<\/a><a target=\"_blank\" href=\"https:\/\/www.cairo-housing.com\/\" style=\"\" rel=\"noopener\">nt<\/a> will submit an MTO for a stake in United for Housing and Development via share swap after its board greenlit the move, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/143.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How much are they after? <\/strong>The percentage stake Cairo Housing is after remains unclear, as it is looking to increase its parent company and its subsidiaries\u2019 stake in United to up to 90%. Aspire and its subsidiaries own a combined minority <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/165.pdf\" style=\"\" rel=\"noopener\">49.9<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/165.pdf\" style=\"\" rel=\"noopener\">% stake<\/a> in United. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Share swap details:<\/strong> If the transaction moves forward, the share swap will happen at a ratio of one United share to three Cairo Housing shares. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> Cairo Housing\u2019s extraordinary general assembly will meet to discuss increasing the company\u2019s capital through issuing more shares. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"641837 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"641837\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/03\/641837\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-641837\" class=\"content-area-description single-story post-641837 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicContactUs\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1877.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"641838\" 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=\"641838\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/03\/president-sisis-turkey-trip-dominates-the-airwaves\/\">\r\n                            President Sisi\u2019s Turkey trip dominates the airwaves                        <\/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\/03\/president-sisis-turkey-trip-dominates-the-airwaves\/\" 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\/03\/president-sisis-turkey-trip-dominates-the-airwaves\/')\">\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\/03\/president-sisis-turkey-trip-dominates-the-airwaves\/\">\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=President Sisi\u2019s Turkey trip dominates the airwaves&url=https:\/\/enterpriseam.com\/egypt\/2024\/09\/03\/president-sisis-turkey-trip-dominates-the-airwaves\/\">\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\/03\/president-sisis-turkey-trip-dominates-the-airwaves\/&title=President Sisi\u2019s Turkey trip dominates the airwaves\">\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=President+Sisi%E2%80%99s+Turkey+trip+dominates+the+airwaves+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F09%2F03%2Fpresident-sisis-turkey-trip-dominates-the-airwaves%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\/03\/president-sisis-turkey-trip-dominates-the-airwaves\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/196.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"641839\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/03\/president-sisis-turkey-trip-dominates-the-airwaves\/196-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/196.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"196.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/196.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/196.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-641838\" class=\"content-area-description single-story post-641838 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-diplomacy tag-enterpriseam tag-gaza tag-israel tag-last-nights-talk-shows tag-turkey 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\/.6ac203d0-d3fd-4425-b24b-5bb6ee9d55af.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>President<\/strong><strong> Abdel Fattah El Sisi\u2019s upcoming trip to Turkey got significant<\/strong><strong> airtime on the talk show circuit last night,<\/strong> with hosts also touching upon the mutual accusations levied by Egypt and Israel following the failure of Gaza truce negotiations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>President<\/strong><strong> Sisi will visit Turkey for the first time tomorrow after having been invited by<\/strong><strong> Turkish president Recep Tayyip Erdogan,<\/strong> Ahmed Moussa said on his program Ala Mas'ouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=o1tpJAn3VcY\" style=\"\" rel=\"noopener\">watch, runtime: 2:21<\/a>). Moussa noted on <a target=\"_blank\" href=\"https:\/\/x.com\/ahmeda_mousa\/status\/1830551071183212770?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1830551071183212770%7Ctwgr%5Eb564e7c4140cd301b02223ceb01c22a6dcccbca6%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.shorouknews.com%2Fnews%2Fview.aspx%3Fcdate%3D02092024id%3D0e1296ed-2464-4767-8e17-8f5cc1c0cdc1\" style=\"\" rel=\"noopener\">social media<\/a> that Egyptian-Turkish relations are currently witnessing significant development and improvement, explainging that \u201cthe visit will include discussions on all bilateral and international issues, as well as the signing of numerous agreements and MoUs in various areas.\u201d Moussa also mentioned that El Sisi and Erdogan will chair a session of the countries\u2019 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b79bcd3f-c14a-41e5-9ab7-50aa37b78975\/sweetening-the-pot-for-oil-and-gas-companies\" style=\"\" rel=\"noopener\">Strategic Cooperation Council<\/a>, which was established during the Turkish president\u2019s visit to Cairo in February. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201c<\/strong><strong>No<\/strong><strong> official statement has been issued by the Turkish side regarding the visit\u2019s date so<\/strong><strong> far,<\/strong> but Turkish media confirms that it will be on Wednesday,\u201d Al Arabiya\u2019s correspondent in Turkey Zidan Zanklu told Amr Adib on his program El Hekaya (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=3DSrxjqYqFg\" style=\"\" rel=\"noopener\">watch, runtime: 3:56<\/a>). Zanklu added that El Sisi will visit Ankara accompanied by a large delegation that will include several ministers, senior officials, and businessmen. The two sides will discuss ways to enhance economic relations and cooperation in areas such as tourism, transportation, and the defense industry, alongside expanding the countries\u2019 joint freetrade agreement, according to Zanklu.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile<\/strong><strong>, Amr Adib focused on heightened tension between Egypt and Israel amid the<\/strong><strong> latter\u2019s insistence on keeping troops on the Egypt-Gaza border<\/strong> on his show El Hekaya (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Elhekayashow\/videos\/874018557972204?locale=ar_AR\" style=\"\" rel=\"noopener\">watch, runtime: 3:41<\/a>). Adib referred to statements made by a high-level source to <a target=\"_blank\" href=\"https:\/\/alqaheranews.net\/news\/94240\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%AC%D8%AF%D8%AF-%D8%B1%D9%81%D8%B6%D9%87%D8%A7-%D8%A7%D9%84%D9%82%D8%A7%D8%B7%D8%B9-%D9%84%D9%84%D9%88%D8%AC%D9%88%D8%AF-%D8%A7%D9%84%D8%A5%D8%B3%D8%B1%D8%A7%D8%A6%D9%8A%D9%84%D9%8A-%D8%A8%D9%85%D8%AD%D9%88%D8%B1-%D9%81%D9%8A%D9%84%D8%A7%D8%AF%D9%84%D9%81%D9%8A%D8%A7-%D9%88%D9%85%D8%B9%D8%A8%D8%B1-%D8%B1%D9%81%D8%AD\" style=\"\" rel=\"noopener\">Al Qahera News<\/a> that \u201cEgypt reaffirms its steadfastness on conditions for a peace agreement, foremost among them the categorical rejection of an Israeli presence in the Philadelphi Corridor and the Rafah crossing.\u201d The source added that \u201cthe continuation of the current war and the possibility of its regional expansion are extremely dangerous and could have severe consequences,\u201d noting that \u201cthe Israeli government is responsible for the failure to reach a truce agreement and is seeking to impose a new reality on the ground to cover up its internal crisis.\u201d Adib described the source\u2019s public statements as \u201cmomentous\u201d (watch, runtime: <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1079345390194471\" style=\"\" rel=\"noopener\">1:55<\/a> and <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1582504735662847\" style=\"\" rel=\"noopener\">4:03<\/a>), and reiterated that \u201cthe Israeli state has been in a state of paralysis since the bodies of six hostages were discovered in Rafah the day before yesterday.\u201d Ahmed Moussa also covered the story (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=HPYg1fMa7TQ\" style=\"\" rel=\"noopener\">watch, runtime: 9:11<\/a>).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/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\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/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=\"641840\" 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=\"641840\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/03\/egypts-struggles-to-keep-the-lights-on-amid-an-energy-shortage-is-continuing-to-catch-the-attention-of-the-intl-press\/\">\r\n                            Egypt\u2019s struggles to keep the lights on amid an energy shortage is continuing to catch the attention of the int\u2019l press                        <\/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\/03\/egypts-struggles-to-keep-the-lights-on-amid-an-energy-shortage-is-continuing-to-catch-the-attention-of-the-intl-press\/\" 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/03\/egypts-struggles-to-keep-the-lights-on-amid-an-energy-shortage-is-continuing-to-catch-the-attention-of-the-intl-press\/152-jpg-25\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/152.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"152.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/152.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/152.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-641840\" class=\"content-area-description single-story post-641840 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-enterpriseam tag-oil-and-gas 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\/.42f34dc3-2da7-419d-8d56-37e8c4929f23.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In a quiet morning for Egypt in the foreign press<\/strong>, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b86c9f85-715e-4b12-a19a-9776c6251c9e\" style=\"\" rel=\"noopener\">Financial Times<\/a> dives into our \u201cjourney from gas bonanza to power blackouts.\u201d The broadsheet tracks how the country went from having ambitious plans to become a regional energy exporting powerhouse \u2014 bolstered by the Zohr discovery whose estimated reserves put it as the Mediterranean\u2019s largest discovery \u2014 to our present predicament of power cuts and costly energy imports eating away at the public purse.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/egypt-counts-foreign-funds-buy-gas-power-crisis-worsens-2024-09-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a><\/strong><strong> also took a look at our efforts to bridge the energy supply gap<\/strong>, with a report claiming that Saudi Arabia and Libya are allegedly funding the purchase of around USD 200 mn worth of natural gas shipments to Egypt in an effort to help alleviate our energy crisis, citing two unnamed industry sources. The country needs around USD 2 bn worth of gas to cover demand until October, according to the newswire.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>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%253cmark%253e-energy%253c%2Fmark%253e-imports-and-other-initiatives\" style=\"\" rel=\"noopener\">is spending USD 1.2 bn<\/a> for energy imports this summer to help fill a supply gap and put a temporary end to blackouts during the hottest months of the year. After becoming a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b05357d8-d636-4372-a069-cf77d948b1e7\/egypt%25e2%2580%2599s-lng-exports-are-maxed-out\" style=\"\" rel=\"noopener\">net exporter<\/a> of LNG in 2018 and signaling its intention to become an important energy exporter to the region and Europe, production falls and rising domestic demand led to Egypt having to ramp up imports to bridge the supply gap.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/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=\"641842\" 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=\"641842\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/03\/auto-distributors-push-for-more-locally-assembled-vehicles-to-make-up-for-import-restrictions-plus-somabay-redcon-sodic-tmg-mass-developments-efg-hermes-kima\/\">\r\n                            Auto distributors push for more locally-assembled vehicles to make up for import restrictions. PLUS: Somabay + Redcon, SODIC, TMG, Mass Developments, EFG Hermes, Kima                        <\/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\/03\/auto-distributors-push-for-more-locally-assembled-vehicles-to-make-up-for-import-restrictions-plus-somabay-redcon-sodic-tmg-mass-developments-efg-hermes-kima\/\" 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\/03\/auto-distributors-push-for-more-locally-assembled-vehicles-to-make-up-for-import-restrictions-plus-somabay-redcon-sodic-tmg-mass-developments-efg-hermes-kima\/')\">\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\/03\/auto-distributors-push-for-more-locally-assembled-vehicles-to-make-up-for-import-restrictions-plus-somabay-redcon-sodic-tmg-mass-developments-efg-hermes-kima\/\">\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=Auto distributors push for more locally-assembled vehicles to make up for import restrictions. 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One of Egypt\u2019s largest car distributors is reportedly holding negotiations with automakers that assemble their vehicles locally to increase their allocation by 40-50%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There movement already: <\/strong>A group of companies that assemble vehicles led by GB Auto have agreed to increase their allocations to accredited distributors, while others have postponed their decision until shipments of production components arrive from abroad.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Major car dealerships have faced significant delays in getting their cars released from local ports \u2014 delays that have threatened contracts and future investments from car manufacturers and exacerbated the severe shortage of new cars on the market, sources in the automotive market previously <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bec3250d-314d-422c-b328-b82da157ba9a\/madbouly-now-needs-to-sign-off-on-any-factory-closures\" style=\"\" rel=\"noopener\">told us<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ON THE SAME WAVELENGTH- <\/strong>Stellantis Egypt is looking into exporting locally-made Citroen models to Libya and Algeria, among a number of other Arab nations, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%D8%B3%D8%AA%D9%8A%D9%84%D8%A7%D9%86%D8%AA%D8%B3-%D8%AA%D8%AF%D8%B1%D8%B3-%D8%AA%D9%88%D8%AC%D9%8A%D9%87-%D8%AD%D8%B5%D8%A9-%D9%85%D9%86-%D8%A5%D9%86%D8%AA%D8%A7%D8%AC-%D8%B3%D9%8A\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports, citing an unnamed Industry Ministry official. This comes as Stellantis <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a06d4ec-4025-490e-8842-45c8a9fe0d8a\" style=\"\" rel=\"noopener\">looks to partake<\/a> in the Egyptian Automotive Industry Development Program, which will offer incentives to auto players o encourage the localization of the industry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The first of many: <\/strong>A number of other automakers are also looking to export a percentage of their locally-produced vehicles, including General Motors, the source said, adding that it\u2019s all in early stages. <\/p>\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- New projects in the Red Sea: <\/strong>Somabay and Redcon Construction will set up a number of projects in the Red Sea with EGP 1.7 bn in investments under a newly-signed MoU, according to <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/somabay-and-redcon-construction-join-forces-to-develop-2-000-new-units-and-luxury-hotels-on-the-red-sea-sgxt959s\" style=\"\" rel=\"noopener\">statement<\/a>. The two companies will set up a number of residential and commercial projects in Somabay, inlduing 2k residential units and multiple luxury hotels. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More to come? <\/strong>\u201cThis partnership is also poised to extend into subsequent years, contingent upon the successful execution and satisfactory performance by Redcon Construction,\u201d the statement read. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- SO<\/strong><strong>DIC launches new Japan-inspired project on the North Coast:<\/strong> SODIC is breaking ground on its 440-acre Ogami development in Ras El Hekma, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/194.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The hospitality project was planned by the DLR Group and includes a Nobu hotel, restaurant, and residences, alongside 800 m of pristine beachfront. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- TMG expects to double its FX revenues by 2028:<\/strong> Talaat Moustafa Group (TMG) expects to see its USD revenues double to USD 856 mn by 2028 on the back of its acquisition of a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bebf4249-f687-4e82-9c1e-e0e920fe361a\" style=\"\" rel=\"noopener\">majority stake<\/a> in a group of seven historic hotels, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/128.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Mass Developments launches EGP 22 bn multi-use project:<\/strong> Real estate developer Mass Developments has begun development of its new 30.6k sq m multi-use project in New Cairo with investments of over EGP 22 bn, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/09\/02\/1822658\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports. <\/p>\n<p class=\"tag-border-left\">FINANCIAL SERVICES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EFG Hermes launches asset servicing, custody arrangement services: <\/strong>Our friends at EFG Hermes have launched asset servicing arrangement and custody arrangement services, which aim to \u201caddress the unique challenges faced by high-net-worth individuals, family offices, and small- to mid-sized funds in accessing custody arrangement services,\u201d the firm said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/153.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The company will help facilitate the custody arrangement process for clients at \u201chighly competitive\u201d rates.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cIntroducing our asset servicing and custody arrangements is a testament to our commitment to expanding our offering by addressing the challenges that high-net-worth individuals and institutional and specialized investors face. By offering seamless access to over 40 markets and handling the complexities of custodial arrangements, we empower our clients to navigate global markets easily and confidently,\u201d EFG Hermes Global Head of Brokerage Ahmed Waly said.<\/p>\n<p class=\"tag-border-left\">EARNINGS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egyptian Chemical Industries (Kima) saw its net income dip 93.9% <\/strong>y-o-y to EGP 70 mn during the fiscal year 2023-2024 from EGP 1.2 bn the year before, it said in its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/125.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Revenues fell 1.2% y-o-y to EGP 6.5 bn during the year. The company attributed the dip in income to an EGP 80 mn decrease in sales revenues and a EGP 722 mn increase in operational costs.<\/p>\n<p class=\"tag-border-left\">COMMODITIES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gov\u2019t wants to increase its wheat reserves amid geopolitical concerns<\/strong>, Supply Minister Sherif Farouk told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%AA%D9%85%D9%88%D9%8A%D9%86-%D9%84%D9%80-%D8%A7%D9%84%D9%85%D8%A7%D9%84-%D9%86%D8%B3%D8%B9%D9%89-%D9%84%D8%AA%D9%88%D9%81%D9%8A%D8%B1-%D8%A3%D9%83\/\" style=\"\" rel=\"noopener\">Al Mal<\/a>. \u201cWe are working to secure the largest amount of strategic wheat reserves to ensure we can meet the country\u2019s needs in light of current geopolitical tension,\u201d the minister said. The government will be able to up its strategic wheat reserves from six-months\u2019 supply to nine months if it secures the necessary funds. Farouk previously <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0162d03a-6ea9-4768-a144-65b72b781d31\/gov%25e2%2580%2599t-still-on-track-to-secure-3.8-mn-tons-of%253cmark%253e-wheat%253c%2Fmark%253e-by-year%25e2%2580%2599s-end,-says-supply-minister\" style=\"\" rel=\"noopener\">said<\/a> that the government will announce the purchase of 3.8 mn tons of wheat before the end of the year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong>President Abdel Fattah El Sisi <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4448ca70-634d-4b89-bfec-59e7237cc21f\/el-etreby-and-okasha-reportedly-set-to-swap-positions-in-managerial-shakeup-of-state-banks\" style=\"\" rel=\"noopener\">reportedly gave the order<\/a> for last month\u2019s huge wheat buy following concerns over the country\u2019s food security. An intelligence briefing raised concerns over our food security in light of escalating regional tension. State grains buyer GASC last month <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c7d5003c-c3c1-41a8-94b0-e1233f99cb4a\/\" style=\"\" rel=\"noopener\">purchased 280k tons of wheat<\/a> in a tender that aimed to secure some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21340043-4153-493c-b299-be6b09b9e480\/our-biggest-wheat-tender-to-date\" style=\"\" rel=\"noopener\">3.8 mn tons<\/a>, locking in just c. 7% of its target. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Speaking of: <\/strong>The government is looking into increasing the storage capacity of silos by 76% to 6 mn tons of grains, legumes, and other strategic goods by 2030, <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1830546250459934896\" style=\"\" rel=\"noopener\">Asharq Business reported<\/a> citing the deputy supply minister. The project will be carried out over two phases at a total cost of EGP 34 bn. <\/p>\n<p class=\"tag-border-left\">EXPANSION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Intercap Capital to expand into Saudi Arabia by 2025:<\/strong> Investment banking firm Intercap Capital is looking to expand into Saudi Arabia early next year, managing partner Rafik Dalala told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/09\/02\/1822290\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Coca Coffee wants to set up shop in the UAE: <\/strong>Local coffee company <a target=\"_blank\" href=\"https:\/\/cocacoffees.com\/pages\/about-us\" style=\"\" rel=\"noopener\">Coca Coffee<\/a> is planning to set up a factory in the UAE next year, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/09\/02\/1822299\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reported, citing the company chairman. The company is still studying the project and is yet to determine its cost, <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Coca Coffee?<\/strong> Established in 2023, Coca Coffee produces high quality coffee beans from its EGP 12 mn factory. It currently serves the local market and exports its products to the UAE and Saudi Arabia. <\/p>\n<p class=\"tag-border-left\">FINTECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MID Takseet links up Al Ahly Momkn: <\/strong>Fintech player MID Takseet customers now have access to e-payment company Al Ahly Momkn\u2019s \u2014 a subsidiary of the National Bank of Egypt\u2019s investment arm Al Ahly Capital Holding \u2014 90k points of sale, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/mid-takseet-and-al-ahly-momkn-announce-a-strategic-partnership-jlsdrmo6\" style=\"\" rel=\"noopener\">press release<\/a>. <\/p>\n<p class=\"tag-border-left\">EDUCATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new branch of a Greek university may be coming to Alexandria: <\/strong>The Higher Education Ministry and Greek authorities are exploring establishing a branch of the University of Patras in Alexandria, alongside plans to create a joint curriculum and establish an exchange program, according to a ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02g5Xb7zx9Ty7eszJUqiD6ZeriQnKhHm671mqVhhpc6wXeCHstMUUkrTBSWMMxuYiEl?rdid=bMfPYMgoJynCrgn5\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                 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id=\"641844\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"641844\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/03\/wake-me-up-when-september-ends\/\">\r\n                            Historic losses and US Fed uncertainty weigh on traders in September                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img 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<\/a>\r\n\r\n                \n<article id=\"post-641844\" class=\"content-area-description single-story post-641844 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-interest-rates tag-planet-finance tag-sp-500 tag-us-federal-reserve 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\/.bce71c02-6ee7-4f13-a7ed-f5011216ba0b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>September is often a turbulent month for asset classes including stocks, <\/strong><strong>bonds, and gold \u2014 and there are few signs suggesting this year will be much different<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-02\/treacherous-september-is-leaving-traders-everywhere-on-edge\" style=\"\" rel=\"noopener\">Bloomberg<\/a> writes. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What gives? <\/strong>Anxiety over whether the US Federal Reserve will cut rates (and by how much) later this month and generalized anxiety about the US presidential election. <\/p><p style=\"padding-top:12pt;margin:0;padding-left:0;padding-bottom:12pt;line-height:1.15;orphans:2;widows:2;text-align:left;padding-right:0\"><strong>The \u201ctraditional\u201d September slump: <\/strong>Bonds, stocks, and gold regularly dip in September as traders rebalance portfolios after summer vacation, the business information service notes. Just about all of the S&amp;P 500 and Dow\u2019s biggest losses (in percentage terms) in each year since 1950 have come in September. Bonds have fallen in eight of the last ten Septembers, and gold has dropped every September since 2017. <\/p><p style=\"padding-top:12pt;margin:0;padding-left:0;padding-bottom:12pt;line-height:1.15;orphans:2;widows:2;text-align:left;padding-right:0\"><strong>Investors are eyeing this coming <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/930b8fba-9702-4cad-99b7-cf86eac8cb3d\/\" style=\"\" rel=\"noopener\">Friday\u2019s US employment report<\/a><\/strong><strong> for insights into the <\/strong><strong>US economy and the Fed\u2019s next moves. <\/strong>The Fed meets on 17-18 September and will then convene again in early November and mid-December. With Fed Chair Jerome Powell having largely settled the question of whether there will be a rate cut in September, the key issue now is the extent of the cut, Amy Wu Silverman, head of derivatives strategy at RBC Capital Markets wrote.<\/p><p style=\"padding-top:12pt;margin:0;padding-left:0;padding-bottom:12pt;line-height:1.15;orphans:2;widows:2;text-align:left;padding-right:0\"><strong>Politics is making things more fraught<\/strong>, with the prospect of a <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/harris-trump-debate-abc-muted-microphones-election-03dc176ac8bbb47f9c18d4e84b109e04#\" style=\"\" rel=\"noopener\">10 September TV debate<\/a> between Vice President Kamala Harris and former President Donald Trump is also adding to anxiety \u2014 to say nothing of the question of who is elected in November. <\/p><p style=\"padding-top:12pt;margin:0;padding-left:0;padding-bottom:12pt;line-height:1.15;orphans:2;widows:2;text-align:left;padding-right:0\"><strong>All eyes on Friday? <\/strong>\u201cSeptember has a mixed record, with risk-off sentiment being common, especially in election years,\u201d Bob Savage, head of markets strategy and insights at BNY said. \u201cThe upcoming US jobs report will likely set the tone for the rest of the year,\u201d he added. <\/p><p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mixed this morning<\/strong>, with the Hang Seng and Shanghai Composite both in the red and both the Nikkei and Kospi up slightly. Australia\u2019s ASX 200 is essentially flat, as is India\u2019s Nifty 50.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Futures suggest we\u2019ll see US shares open under modest selling pressure <\/strong>at the opening bell later today, while most major European benchmarks we follow are set to today\u2019s session in the green.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,732<\/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: +23.5%)<\/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>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 48.46<\/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 48.60<\/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 48.49<\/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 48.59<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,167<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +1.7%)<\/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\">9,363<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8% (YTD: -2.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,357<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +7.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,648<\/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-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>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\">8,364<\/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: +8.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,973<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +10.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 77.52<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2.19<\/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\">+2.9%<\/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>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 2,531.70<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 58,992.10<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.1% (YTD: +40.1%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 0.6% at yesterday\u2019s close<\/strong> on turnover of EGP 6.2 bn (60.3% above the 90-day average). International investors were the sole net buyers. The index is up 23.5% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Elsewedy Electric (+3.7%), Madinet Masr (+2.8%), and AMOC (+2.5%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Palm Hills Development (-4.5%), Emaar Misr (-4.4%), and Cleopatra Hospitals (-3.6%).<\/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\/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 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going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">10<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/the-roadmap-to-adding-28-gw-of-renewable-energy-to-egypts-energy-mix-part-ii\/\">\r\n                            The roadmap to adding 28 GW of renewable energy to Egypt\u2019s energy mix \u2014 Part II<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" 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           <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/the-roadmap-to-adding-28-gw-of-renewable-energy-to-egypts-energy-mix-part-ii\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/877.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail 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=\"641847\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/the-roadmap-to-adding-28-gw-of-renewable-energy-to-egypts-energy-mix-part-ii\/877-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/877.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"877.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/877.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/877.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-641846\" class=\"content-area-description post-641846 goinggreen type-goinggreen status-publish has-post-thumbnail hentry category-going-green tag-energy tag-enterprise-going-green tag-enterpriseam tag-going-green tag-renewables 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>What should the state do to ensure our ambitious renewable targets become reality? <\/strong>The road to boosting the percentage of renewables in our energy mix is not without challenges, but what should the state do to ensure we reach the finish line?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In <\/strong><strong><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\">part o<\/a><\/strong><strong><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\">ne<\/a><\/strong><strong> of the story<\/strong>, we looked at the pipeline of projects that will help us fulfill the state\u2019s goal of adding 28 GW of renewable energy to the country\u2019s energy mix over the next five to seven years and the incentives needed to keep the investments coming. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher: <\/strong>The government wants to see <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8883e2e1-8006-4fd6-be3c-58d871338ead\/\" style=\"\" rel=\"noopener\">3-4 GW-worth of renewable energy projects go live<\/a> and start feeding the national grid by next summer to fill the energy supply gap. This push is part of a broader plan to secure the country's energy needs amid declining natural gas production and expanding electricity interconnection projects to enable exports to surrounding countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>To help make renewables more attractive<\/strong>, the government is looking into scrapping the cap on renewable energy production for households and allowing the state to purchase whatever excess energy produced to use it to feed the electricity grid, one of our sources said. Former head of the Sustainable Energy Division Adel Bishara told Enterprise that the government needs to provide more incentives to encourage individuals and companies to expand the use of solar panels.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Integrated grid-connected, small-scale solar systems could save Egyptian households on their electricity bills and ease pressure on the national grid. The Electricity Ministry has reportedly begun implementing hikes that will see <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/39d605cc-f8fe-4f7d-bcd8-3bc3d241fbce\/\" style=\"\" rel=\"noopener\">household electricity prices rising by 14-40%<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It doesn\u2019t come without challenges: <\/strong>The high cost of implementation and barriers to financing plans are preventing many from turning to the sun\u2019s rays. We dove into the ins and outs of households going solar in a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1abb8714-38ed-4d37-a689-58318c559c44\/why-are-so-few-egyptian-households-going-solar%3F\" style=\"\" rel=\"noopener\">Going Green<\/a> published earlier this year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The solution?<\/strong> Bishara suggested cutting down on the costs of approval and installation procedures and fully exempting solar panel imports from customs to help push more households to go solar. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Incentives for solar panel assembly:<\/strong> Reducing the cost of building solar power plants heavily relies on tax and customs breaks, Romany Hakeem, chairman of Beneshty Solar and vice chairman of Sustainable Energy Development Association told Enterprise. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bigger picture: <\/strong>More households using solar energy to keep the lights on will help the government cut down on fuel costs \u2014 the government is looking to install up to 30 GW of new renewable energy as it looks to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d6ddc0d-5ceb-4101-8487-679c669773d3\/\" style=\"\" rel=\"noopener\">save USD 4.1 bn in annual fuel costs<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No time to waste:<\/strong> Making the shift to renewable energy is no longer a luxury with ongoing challenges in the traditional energy sector and the world shifting to reduce emissions, Hakeem said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Regulatory challenges remain:<\/strong> Hakeem pointed out that inconsistent regulations remain a major challenge to the growth of the renewable energy sector. He noted that some regulations prevent the sector from reaching its full potential, pointing to the cap on renewable energy production.<\/p>\n<p class=\"tag-border-left\">AS THINGS STAND- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our current energy mix:<\/strong> Despite recent efforts, renewable energy\u2019s contribution to the country\u2019s energy mix remains limited. A source from the Electricity Ministry explained to Enterprise that the major renewable projects set up over the past few years helped make Egypt one of the first countries in the region to enter the renewables field, pointing to the Benban solar power plant and a number of wind farms. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers:<\/strong> Renewable energy <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9c204253-74bf-4487-ae7d-62ae0cb51bb5\/breaking-down-the-new-cabinet%25e2%2580%2599s-green-goals\" style=\"\" rel=\"noopener\">made up some 11.5%<\/a> during the past fiscal year and is forecast to make up some 13.8% during the current fiscal year. And the government sees renewables making up 18.6% of Egypt\u2019s total energy mix by the fiscal year 2026-2027.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expanding our renewable capacity is a top priority:<\/strong> Our sources at the Electricity Ministry confirmed that expanding the country\u2019s renewable energy and encouraging private sector investment in green energy sources is on top of its list of priorities for the coming period.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/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=\"641848\" 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\/03\/641848\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-641848\" class=\"content-area-description single-story post-641848 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>30 September (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.almalgtm.org\/portfolio\/the-7th-portfolio-egypt-conference-2024\/\" style=\"\">Portfolio Egypt 2024<\/a><\/span><span>, 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: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\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>GCC investors eye school stake | Basata wraps MadfoatCom acquisition | Auto localization efforts get a push | Indonesian investments incoming?<\/p>\n","protected":false},"featured_media":641823,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-641822","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"888146d3-c9a4-4115-9ed8-d7d1c4040982","teaser":"GCC investors eye school stake | Basata wraps MadfoatCom acquisition | Auto localization efforts get a push | Indonesian investments incoming?","photo_url":"https:\/\/ent.news\/2024\/8\/1842.jpg"},"yoast_head":"<!-- This site is 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