{"id":643530,"date":"2024-09-10T00:00:00","date_gmt":"2024-09-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=643530"},"modified":"2025-12-17T18:46:03","modified_gmt":"2025-12-17T18:46:03","slug":"competition-watchdog-seeks-criminal-investigation-of-alleged-egg-cartel","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/competition-watchdog-seeks-criminal-investigation-of-alleged-egg-cartel\/","title":{"rendered":"Competition watchdog seeks criminal investigation of alleged egg cartel"},"content":{"rendered":"<section id=\"643532\" 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=\"643532\">\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\/10\/capital-gains-tax-scrapped\/\">\r\n                            Capital gains tax scrapped?                        <\/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\/10\/capital-gains-tax-scrapped\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-image-title=\"132.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/132.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/132.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-643532\" class=\"content-area-description single-story post-643532 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-capital-markets tag-egx tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.d3a6617d-5316-4654-a5f2-439cf9548fdb.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 a very happy hump day to you all. <\/strong>Leading the news well today and many of the talk shows last night is news of a showdown between the Egyptian Competition Authority and an egg cartel that reportedly controls up to 70% of eggs that find their way into our kitchens. We crack open this story and delve into important real estate, education, auto industry localisation updates, and more in the issue below.<\/p><p class=\"tag-border-left\">WATCH THIS SPACE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- The already postponed capital gains tax may be abolished:<\/strong> The Madbouly government is considering canceling the planned capital gains tax on all EGX transactions as part of a broader drive to improve the country\u2019s investment climate, Investment Minister Hassan El Khatib told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/financing-and-investment\/53178\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%AF%D8%B1%D8%B3-%D8%A5%D9%84%D8%BA%D8%A7%D8%A1-%D8%B6%D8%B1%D9%8A%D8%A8%D8%A9-%D8%A7%D9%84%D8%A3%D8%B1%D8%A8%D8%A7%D8%AD-%D8%A7%D9%84%D8%B1%D8%A3%D8%B3%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%B9%D9%84%D9%89-%D9%85%D8%B9%D8%A7%D9%85%D9%84%D8%A7%D8%AA-%D8%A7%D9%84%D8%A8%D9%88%D8%B1%D8%B5%D8%A9\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. A decision on the fate of the capital gains tax is expected to be made within the next three weeks, El Khatib added.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re yet to hear anything official<\/strong>, but El Khatib said in a meeting with EGX boss Ahmed El Sheikh yesterday that \u201cwork is underway\u201d to take a look at proposals of what to do with the supposedly upcoming capital gains tax, according to an Investment Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid04ryauqoNA9ej7NrYpPsnoSEtykksAs3bAWA7s7rGXqUj2atmQJbPs4JU7kFB9HmMl\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>A 10% capital gains tax on EGX transactions was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc92b9f8-5427-446f-a7dc-2960cc4d17a4\" style=\"\" rel=\"noopener\">supposed to be introduced in<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc92b9f8-5427-446f-a7dc-2960cc4d17a4\" style=\"\" rel=\"noopener\">January 2022<\/a> for resident investors, but was later delayed by the Finance Ministry. The tax has since undergone a number of different amendments and reviews, with the government last announcing <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/853171ea-6141-4c0e-ab99-26af50b09d5d\/%253cmark%253ecapital%253c%2Fmark%253e%253cmark%253e-gains%253c%2Fmark%253e-taxes-incoming-in-2025\" style=\"\" rel=\"noopener\">in May<\/a> plans to start collecting taxes on capital gains incurred from trading EGX-listed financial securities starting March-April 2025.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#2- <\/strong><strong>Export support fund<\/strong><strong> in line for a shakeup: <\/strong>The government will announce amendments to the export support fund within 7-10 days, Investment Minister Hassan El Khatib said at the Food Export Council\u2019s inaugural conference for food industry exporters yesterday (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/live\/?mibextid=O563ZM&amp;ref=watch_permalink&amp;v=540317715229292&amp;rdid=vIZFa8mkZfv1OTjX\" style=\"\" rel=\"noopener\">watch, runtime: 20:11<\/a>).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A three-month turnaround for export support:<\/strong> The proposed amendments include disbursing export support within three months on the condition that exporters deposit their export earnings in local banks, which would handle their foreign currency needs. The longstanding challenge of delayed support disbursement, coupled with the fund\u2019s over-allocation of support, are the biggest obstacles hindering the effectiveness of the fund, El Khatib said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The changes already have presidential backing:<\/strong> President Abdel Fattah El Sisi has expressed his full support for a proposal by El Khatib to ramp up allocation to the fund, saying \u201cI am with you\u201d as long as the amendments boost the country\u2019s exports.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Khatib also thinks it's about time we shake up the way we import products: <\/strong>El Khatib pointed to the high customs clearance fees imposed on imports, which can reach USD 270 per shipment, compared to USD 43 in Morocco and USD 18 in India. He stressed the need for an overhaul of Egypt\u2019s import, export, and trade legislation.<\/p><p class=\"tag-border-left\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>Good news for jet setters: <\/strong>Banque Misr and NBE will now let their customers traveling abroad exchange up to USD 5k in the run up to their travels \u2014 depending on the type of account they have \u2014 according to notes from the bank seen by Enterprise. Both of the banks also upped their monthly purchase limits for FX transactions outside the country for its highest category of cards to the equivalent of EGP 300k. NBE cardholders in the highest category of cards will also now be able to spend the FX equivalent of up to EGP 100k here at home.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- Get ready for a heatwave hitting Cairo today,<\/strong> with a high of 37\u00b0C and a low of 27\u00b0C, according to our favorite weather app. Temperatures are projected to pick up to highs of 38\u00b0C on Wednesday and Thursday before cooling down,<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s almost just as hot in Alexandria today<\/strong>, with a high of 36\u00b0C and a low of 26\u00b0C, but temperatures will begin to gradually decrease starting tomorrow.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p class=\"tag-border-left\">HAPPENING TODAY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Inflation<\/strong> <strong>to creep down for the sixth consecutive month? <\/strong>Analysts, policymakers and the business community are eagerly awaiting inflation figures for August set to be released later today by state statistics agency Capmas. The last set of inflation data showed the annual urban inflation <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c404f58-2406-4138-bee3-3b59858bfa5f\/inflation-falls-to-lowest-level-since-december-2022,-recording-of-25.7%2525-in-july\" style=\"\" rel=\"noopener\">falling to 25.7%<\/a> \u2014 its lowest level since December 2022 and beating expectations by a whole 0.9 percentage points.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Analysts seem pretty confident that annual urban inflation will continue easing:<\/strong> Annual headline inflation is expected to have slowed 0.6 percentage points from the month before to 25.1%, according to a median forecast of 19 analysts <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egypt-august-inflation-seen-dropping-despite-price-hikes-2024-09-08\/\" style=\"\" rel=\"noopener\">polled by Reuters<\/a>. However, despite the decrease on an annual basis, some see inflation on a monthly basis picking up, with Naeem Holding forecasting a 1.24% m-o-m increase and HC Securities\u2019 Heba Mounir a 1.0% m-o-m uptick on the back of energy and transport price hikes. Meanwhile, core inflation is seen falling to 0.5 percentage points from the month before to 23.9% y-o-y, according to a median poll of five analysts. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#2-<\/strong> <strong>It\u2019s day two of the 10th EFG Hermes London Conference:<\/strong> EFG Hermes\u2019s four-day annual conference in London will be entering its second day today and will \u201cdelve into the profound potential emerging in key sectors across the global economy, offering participants unparalleled insights and connections in a rapidly evolving landscape,\u201d the company said a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/666.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What to watch out for today: <\/strong>London\u2019s Emirates Stadium will today be hosting the conference plenary session. Group CEO Karim Awad will open the conference\u2019s plenary session that will see Capital Market Authority Board Commissioner Abdulaziz Abdulmohsen Bin Hassan and Saudi Exchange CEO Mohammed Al Rumaih give their insights into the kingdom\u2019s capital markets.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cThis event is a platform that facilitates the exchange of ideas, forges partnerships, and uncovers opportunities that align with the region\u2019s long-term growth trajectory. Our role is to ensure that our clients, partners, and stakeholders are positioned to capitalize on these emerging trends, as the MENA region continues to expand its influence on the global stage,\u201d said Awad.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Kouchouk heads to AmCham:<\/strong> Finance Minister Ahmed Kouchouk <a target=\"_blank\" href=\"https:\/\/www.amcham.org.eg\/events-activities\/events\" style=\"\" rel=\"noopener\">will be speaking<\/a> at AmCham\u2019s monthly luncheon today. The event \u2014 which will be moderated by Grant Thornton Managing Partner Kamel Saleh \u2014 will be held at Cairo\u2019s Nile Ritz Carlton from 1-4pm.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Attention, techies: <\/strong><a target=\"_blank\" href=\"https:\/\/techinvest5.markade.org\/?fbclid=IwY2xjawFFQJhleHRuA2FlbQIxMAABHZBP6E594vQrM1PChacgWOzu5N5pkd_vIx76_yEUkglOVy1mzzjUuG0n1Q_aem_Z-N9QIhLC1nkUbqcgGf7-w\" style=\"\" rel=\"noopener\">Tech Invest<\/a><a target=\"_blank\" href=\"https:\/\/techinvest5.markade.org\/?fbclid=IwY2xjawFFQJhleHRuA2FlbQIxMAABHZBP6E594vQrM1PChacgWOzu5N5pkd_vIx76_yEUkglOVy1mzzjUuG0n1Q_aem_Z-N9QIhLC1nkUbqcgGf7-w\" style=\"\" rel=\"noopener\">5<\/a> is set to open today, with a long list of experts in the tech field set to attend the conference. The conference in New Cairo will bring together over 200 tech companies, 50 investors, and 20 incubators and accelerators. <\/p><p class=\"tag-border-left\">HAPPENING NEXT WEEK-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong>Egypt-UK investment<\/strong><strong> conference is nearly upon us: <\/strong>Our friends at HSBC, together with <a target=\"_blank\" href=\"https:\/\/www.ukexportfinance.gov.uk\/\" style=\"\" rel=\"noopener\">UK Export Finance<\/a> and <a target=\"_blank\" href=\"https:\/\/www.theebcc.com\/\" style=\"\" rel=\"noopener\">Egyptian-British Chamber of Commerce<\/a>, are hosting the <a target=\"_blank\" href=\"https:\/\/www.the-ta.com\/upcoming-events\/egypt-uk-investment-forum-16th-sept-in-london-uk\/\" style=\"\" rel=\"noopener\">Egypt-UK Investment and Opportunities Forum<\/a> in London on <strong>Monday, 16 September<\/strong>. The conference will showcase investment opportunities in Egypt across different sectors \u2014 including renewable energy, water, automotive, food processing, IT, and AI \u2014 to potential investors from the UK. It will also facilitate matchmaking between institutions of both countries, bringing together government representatives, business leaders, and senior executives.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the agenda:<\/strong> The event will feature presentations by GAFI head Hossam Heiba on supporting a sustainable investment climate, SCZone head Walid Gamal El Din on the economic zone\u2019s investment proposition, and Advisor to the Vice Finance Minister Nevine Mansour on economic reform. The presentations will be followed by two panel discussions with large local and international companies \u2014 the first of which will discuss Egypt's growth potential and infrastructure and the second focusing on investment opportunities and success stories. The event will also offer three hours for one-on-one meetings (which must be scheduled in advance) and networking.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tempted to jet off to London to attend the conference?<\/strong> Register your interest <a target=\"_blank\" href=\"https:\/\/www.the-ta.com\/upcoming-events\/egypt-uk-investment-forum-16th-sept-in-london-uk\/\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p class=\"tag-border-left\">FROM THE CENTRAL BANK- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The average yield on 3-year, fixed-rate, EGP-denominated bonds fell to 25.187%<\/strong> in the central bank\u2019s weekly auction yesterday, down from 25.234% last week, 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 Central Bank of Egypt. The auction saw the CBE accept 46 of 113 submitted bids to reach a total nominal value of just over EGP 25 bn \u2014 five times the CBE\u2019s target of EGP 5 bn.<\/p><p class=\"tag-border-left\">FACT CHECK-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Car <\/strong><strong>import<\/strong><strong> restrictions are still firmly in place \u2014 for now at least: <\/strong>No changes have been made or instructions issued to start opening credit lines for importers looking to bring over fully manufactured cars, a government source confirmed to Enterprise in response to local media reports suggesting otherwise. A source in the banking sector also confirmed to us that automobiles are still on the list of goods that aren\u2019t approved for credit lines and that there were no immediate plans to change this.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There are currently only two ways to import fully manufactured cars<\/strong>, Egyptian Association of Automobile Manufacturers head Khaled Saad told Enterprise. The first is companies who use export proceeds in FX to fund the imports, Saad explained. The second involves companies who have sister companies abroad that channel FX into their operations in Egypt. However, Saad pointed out that reopening the import of cars now would work against the state\u2019s efforts to try to localize the industry.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">DATA POINT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>Remittances from Egyptians abroad rose for the fifth consecutive month<\/strong>, climbing 86.8% to around USD 3.0 bn in July, according to a central bank <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/622.pdf\" style=\"\" rel=\"noopener\">statement<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/622.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. Remittances were up <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ca8aef6e-a57b-45b7-b76d-d0df966264d1\/\" style=\"\" rel=\"noopener\">15.9% m-o-m<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Egyptians abroad have started <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8ea59e39-6fc2-4391-a708-7c96349d5908\" style=\"\" rel=\"noopener\">sending more of their remittances<\/a> through official channels after the float of the EGP put an end to the parallel market that had pushed remittance flows through unofficial channels. Remittances are an important source of FX for the country and the state is working to increase flows <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63475988-4cb4-4a7f-8124-9a9bc5677029\" style=\"\" rel=\"noopener\">by 10% each year<\/a> to reach USD 53 bn by 2030.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"http:\/\/finance2024.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/282.jpg?ssl=1\"><\/a> <\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There is a relative calm in the international press today<\/strong> before the inevitable storm of US presidential news set to follow the Harris-Trump showdown that is fast approaching. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pushing its way into the digital front pages is Google\u2019s latest faceoff with the US<\/strong><strong> Department of Justice that <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/googles-antitrust-trial-over-online-advertising-set-begin-2024-09-09\/\" style=\"\" rel=\"noopener\">kicked off<\/a><\/strong><strong> yesterday in Virginia, <\/strong>with prosecutors alleging that the tech giant violated antitrust law by using monopoly tactics to dominate the online ad market, <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b6225aba-b288-45dd-abdc-00a7bbab6842\" style=\"\" rel=\"noopener\">increasing prices<\/a> for publishers and advertisers across the board. The case, which could result in Google being forced to sell off its ad management arm, is being heard without a jury in a trial expected to take weeks.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The tech giant has been locked in an ongoing series of antitrust disputes with the DOJ,<\/strong> the most recent of which <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/us-judge-rules-google-broke-antitrust-law-search-case-2024-08-05\/\" style=\"\" rel=\"noopener\">saw a judge rule<\/a> last month that Google had monopolized the online search market. Some commentators pointed to the ruling as auguring more aggressive US antitrust enforcement of Big Tech, which has come under fire across the political spectrum in recent years.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And in news from another one of Silicon Valley\u2019s major monopolists,<\/strong> the iPhone 16 has been officially <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/670662aa-2dd8-4586-bb76-bc0757fce571\" style=\"\" rel=\"noopener\">revealed<\/a>, with Apple set to begin taking pre-orders Friday in advance of the model\u2019s official sell date of 20 September. Apple has set its sights on reviving flagging iPhone sales and encouraging users to upgrade by doubling down on AI features as part of its Apple Intelligence package \u2014 despite the fact that some of these offerings may not be available for months.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While over in the EU, calls for the bloc to get serious about competing with China and the<\/strong><strong> US are growing<\/strong>, with Former Italian Prime Minister Mario Draghi making the case for an additional EUR 800 bn worth of investments in EU industry annually in order to strengthen the European bloc\u2019s competitiveness. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Draghi\u2019s much-anticipated, EU-commissioned report calls for what the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/92f7aedd-67fa-488f-8559-7019b7c2e40a\" style=\"\" rel=\"noopener\">Financial Times<\/a><\/strong><strong> calls a \u201csignificant reorientation of economic policy,\u201d<\/strong> with the former Italian premier calling for the bloc to relax competition laws to encourage market consolidation in telecom, integrate capital markets under a centralized regulatory apparatuses, unify defense procurement, and revise the bloc\u2019s trade agenda to assure its economic independence. If implemented, the proposal would bring total levels of EU investment to between 4.4% and 4.7% of the EU\u2019s annual GDP \u2014 levels not seen in the bloc since the 1970s.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The report isn\u2019t \u201cdo or die,\u201d but it is \u201cdo this, or it\u2019s slow agony,\u201d<\/strong> Draghi told the FT. \u201cWe have reached the point where, without action, we will have to either compromise our welfare, our environment, or our freedom.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/239.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We look at how far Egypt\u2019s environmental and sustainability efforts have come over the past decade.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/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=\"643534 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=\"643534\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/643534\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-643534\" class=\"content-area-description single-story post-643534 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1807.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Beauty unveiled amidst ancient wonders: <\/span><span>Celebrate the beauty, nature, and cultural legacy of 30 nations as Miss Elite 2024 returns to the enchanting shores of Somabay from 2-14 September. For the fourth consecutive year, Somabay is hosting this prestigious international beauty pageant, celebrating women&rsquo;s beauty and intelligence on a global scale. Experience the fusion of antiquity and modern elegance by attending the Grand Finale on 13 September at Mazeej Soma Beach Platform.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"643535\" 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=\"643535\">\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\">COMPETITION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/egyptian-competition-authority-cracks-down-on-alleged-egg-cartel\/\">\r\n                            Egyptian Competition Authority cracks down on alleged egg cartel                        <\/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\/10\/egyptian-competition-authority-cracks-down-on-alleged-egg-cartel\/\" 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\/10\/egyptian-competition-authority-cracks-down-on-alleged-egg-cartel\/')\">\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\/10\/egyptian-competition-authority-cracks-down-on-alleged-egg-cartel\/\">\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=Egyptian Competition Authority cracks down on alleged egg cartel&url=https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/egyptian-competition-authority-cracks-down-on-alleged-egg-cartel\/\">\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\/10\/egyptian-competition-authority-cracks-down-on-alleged-egg-cartel\/&title=Egyptian Competition Authority cracks down on alleged egg cartel\">\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=Egyptian+Competition+Authority+cracks+down+on+alleged+egg+cartel+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F09%2F10%2Fegyptian-competition-authority-cracks-down-on-alleged-egg-cartel%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\/10\/egyptian-competition-authority-cracks-down-on-alleged-egg-cartel\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/682.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"643536\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/egyptian-competition-authority-cracks-down-on-alleged-egg-cartel\/682-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/682.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"682.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/682.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/682.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-643535\" class=\"content-area-description single-story post-643535 post type-post status-publish format-standard has-post-thumbnail hentry category-competition-watch tag-commodities tag-competition-watch tag-egyptian-competition-authority tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.d0b989ee-e6ae-4fe8-a4fa-26790398dbbb.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Competition watchdog ain\u2019t no chicken when it comes to calling out unfair practices: <\/strong>The Egyptian Competition Authority (ECA) has initiated criminal proceedings against 21 major table egg producers for colluding to raise prices, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCompetitionAuthorityECA\/posts\/pfbid033cMEQd6uvpYUMNWZ48NBvuCqfxFFdAWcNEjaNy7qpW35T2rn2mvCDChp6CJr4cDcl\" style=\"\" rel=\"noopener\">statement<\/a> by the authority. The producers \u2014 who are members of the Table Egg Division of the Poultry Producers Union and its board \u2014 were referred to the Public Prosecution for violating provisions of the Competition Act.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe offending producers represent around 50-70% of the market,\u201d <\/strong>ECA head Mahmoud Momtaz told Ahmed Moussa on his show Ala Mas\u2019ouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=bMfQlsH4PuQ\" style=\"\" rel=\"noopener\">watch, runtime: 10:44<\/a>), pointing to the massive profits these producers have amassed as a result of the manipulation of egg prices. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The allegation:<\/strong> Members of the division were allegedly discovered to be setting daily wholesale prices for white and red eggs, resulting in inflated prices that \u201cdo not reflect their real cost,\u201d the ECA said. The division allegedly communicated with major farms to determine the prices, which it then disseminated to market participants through its Facebook page, the union\u2019s page, and regional social media groups.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>To make a free and fair market, you have to crack a few eggs: <\/strong>Horizontal agreements are the \u201cworst type\u201d of anti-competitive practice because they disrupt the free market and hurt consumers, the ECA said. The alleged cartel \u201cdeliberately undermined government initiatives\u201d aimed at easing financial strains on citizens, including incentives extended to the private sector to improve economic efficiency, reduce costs, and ultimately lower market prices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egg producers respond: <\/strong>\u201cWe have not yet received any official notification related to this matter,\u201d head of the table egg division at the General Union of Poultry Producers Ahmed Nabil Abdullah said in a phone conversation with Faten Abdel Maaboud on her show Salaat El Tahrir (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=qzRFLSby2V0\" style=\"\" rel=\"noopener\">watch, runtime: 11:43<\/a>). He added, \u201cWe were surprised by the news [after hearing about it] through news platforms and social media.\u201d Abdullah attributed the rise in egg prices to the significant increase in feed prices, which has caused substantial losses for producers.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/competition-watch\/\">competition watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-competition-authority\/\">Egyptian Competition Authority<\/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=\"643537\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container 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src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-uk9vtdp\" data-v=\"4\" data-block-id=\"uk9vtdp\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-uk9vtdp-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-uk9vtdp-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 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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=\"643538\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/ora-developers-secures-egp-7-bn-from-banking-consortium-plus-sodic-signs-egp-4-1-bn-loan-agreement-with-cib-banque-misr\/\">\r\n                            Sawiris\u2019 Ora Developers secures EGP 7 bn in financing from consortium of banks led by CIB.  PLUS: SODIC signs EGP 4.1 bn loan agreement with CIB, Banque Misr                        <\/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\/10\/ora-developers-secures-egp-7-bn-from-banking-consortium-plus-sodic-signs-egp-4-1-bn-loan-agreement-with-cib-banque-misr\/\" 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\/10\/ora-developers-secures-egp-7-bn-from-banking-consortium-plus-sodic-signs-egp-4-1-bn-loan-agreement-with-cib-banque-misr\/')\">\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\/10\/ora-developers-secures-egp-7-bn-from-banking-consortium-plus-sodic-signs-egp-4-1-bn-loan-agreement-with-cib-banque-misr\/\">\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=Ora Developers secures EGP 7 bn from banking consortium. PLUS: SODIC signs EGP 4.1 bn loan agreement with CIB, Banque Misr&url=https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/ora-developers-secures-egp-7-bn-from-banking-consortium-plus-sodic-signs-egp-4-1-bn-loan-agreement-with-cib-banque-misr\/\">\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\/10\/ora-developers-secures-egp-7-bn-from-banking-consortium-plus-sodic-signs-egp-4-1-bn-loan-agreement-with-cib-banque-misr\/&title=Ora Developers secures EGP 7 bn from banking consortium. PLUS: SODIC signs EGP 4.1 bn loan agreement with CIB, Banque Misr\">\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=Ora+Developers+secures+EGP+7+bn+from+banking+consortium.+PLUS%3A+SODIC+signs+EGP+4.1+bn+loan+agreement+with+CIB%2C+Banque+Misr+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F09%2F10%2Fora-developers-secures-egp-7-bn-from-banking-consortium-plus-sodic-signs-egp-4-1-bn-loan-agreement-with-cib-banque-misr%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\/10\/ora-developers-secures-egp-7-bn-from-banking-consortium-plus-sodic-signs-egp-4-1-bn-loan-agreement-with-cib-banque-misr\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2566.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"643539\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/ora-developers-secures-egp-7-bn-from-banking-consortium-plus-sodic-signs-egp-4-1-bn-loan-agreement-with-cib-banque-misr\/2566-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2566.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2566.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2566.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2566.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-643538\" class=\"content-area-description single-story post-643538 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-al-baraka-bank tag-banque-misr tag-cib tag-debt-watch tag-enterpriseam tag-naguib-sawiris tag-ora-developers tag-real-estate tag-sodic 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\/.4b16f598-3db8-4e86-8d17-21b07049c7c7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Real estate developers are continuing to look to banks \u2014 both private and public \u2014 to<\/strong><strong> fund ongoing projects<\/strong>, with Ora and SODIC being the latest to ink multi bn loan agreements.<\/p>\n<p class=\"tag-border-left\">ORA LOOKS TO LOCAL BANKS TO FUND ZED EAST PROJECT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Ora Developers secures EGP 7 bn in financing from banking consortium:<\/strong> Sawiris-owned Ora Developers has been granted financing from a consortium of four Egyptian banks led by CIB, according to statements from <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/635.pdf\" style=\"\" rel=\"noopener\">CIB (pdf)<\/a> and <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/652.pdf\" style=\"\" rel=\"noopener\">Al Baraka Bank (pdf)<\/a>. We are yet to find out who the other two other local banks in the consortium are.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know so far: <\/strong>While the structure of the financing is still fuzzy, we know that CIB contributed EGP 4 billion and Al Baraka Bank EGP 1 bn. The remaining EGP 3 bn is split between the two other still unknown banks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where the money is going: <\/strong>The funds will be used to cover part of the cost of Ora\u2019s <a target=\"_blank\" href=\"https:\/\/www.oradevelopers.com\/properties\/zed-east\" style=\"\" rel=\"noopener\">ZED East<\/a> project, a mostly residential mixed-use project spanning 334 acres in New Cairo.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> CIB acted as the lead arranger, marketer, financing agent, and account bank for the transaction. Matouk Bassiouny &amp; Hennawy provided legal counsel for the lenders, while MHR &amp; Partners in association with White &amp; Case provided counsel for the borrowers. <\/p>\n<p class=\"tag-border-left\">SODIC INKS LOAN TO FINANCE NEW ZAYED PROJECT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SODIC signs EGP 4.1 bn syndicated loan agreement with two banks: <\/strong>Real estate developer SODIC has signed an agreement with Banque Misr and CIB for a long-term syndicated loan of just over EGP 4.1 bn, the company announced in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/647.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s the money for? <\/strong>The company will use the funds to partially finance the remaining costs related to its 464-acre project in New Zayed, which includes its Karmell and Vye developments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cThe signing of this facility comes as a testament to SODIC\u2019s solid financial performance, strong cash flows, and liquid balance sheet as well as the strength of SODIC\u2019s long-term relationships with Egypt's leading banks, facilitating the company\u2019s access to the debt market, and supporting SODIC\u2019s growth endeavors,\u201d SODIC General Manager Ayman Amer said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong>Baker McKenzie and White &amp; Case were thanked in the statement, however their role in the transaction was not specified.<\/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\/al-baraka-bank\/\">Al Baraka Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/naguib-sawiris\/\">Naguib Sawiris<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ora-developers\/\">Ora Developers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sodic\/\">SODIC<\/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=\"643540\" 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=\"643540\">\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\/10\/oci-offloads-methanol-interests-to-methanex-for-usd-2-05-bn\/\">\r\n                            OCI offloads methanol interests to Methanex for USD 2.05 bn                        <\/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\/10\/oci-offloads-methanol-interests-to-methanex-for-usd-2-05-bn\/\" 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\/10\/oci-offloads-methanol-interests-to-methanex-for-usd-2-05-bn\/')\">\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\/10\/oci-offloads-methanol-interests-to-methanex-for-usd-2-05-bn\/\">\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=OCI offloads methanol interests to Methanex for USD 2.05 bn&url=https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/oci-offloads-methanol-interests-to-methanex-for-usd-2-05-bn\/\">\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\/10\/oci-offloads-methanol-interests-to-methanex-for-usd-2-05-bn\/&title=OCI offloads methanol interests to Methanex for USD 2.05 bn\">\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=OCI+offloads+methanol+interests+to+Methanex+for+USD+2.05+bn+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F09%2F10%2Foci-offloads-methanol-interests-to-methanex-for-usd-2-05-bn%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\/10\/oci-offloads-methanol-interests-to-methanex-for-usd-2-05-bn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/451.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"643541\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/oci-offloads-methanol-interests-to-methanex-for-usd-2-05-bn\/451-jpg-23\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/451.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"451.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/451.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/451.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-643540\" class=\"content-area-description single-story post-643540 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam tag-green-hydrogen tag-ma-watch tag-oci-global tag-renewables 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\/.9bfd3b02-bebe-43bf-9b46-6e4fdace5c7e.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>OCI sells methanol business to Methanex for USD 2.05 bn: <\/strong>Nassef Sawiris-backed, Netherlands-headquartered chemicals company <a target=\"_blank\" href=\"https:\/\/oci-global.com\/\" style=\"\" rel=\"noopener\">OCI Global<\/a> has sold its entire methanol business \u2014 operating in the US and Europe \u2014 to Canadian methanol producer <a target=\"_blank\" href=\"https:\/\/www.methanex.com\/\" style=\"\" rel=\"noopener\">Methanex<\/a> in a USD 2.05 bn agreement, OCI said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/609.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The purchase is set to be completed in 1H 2025, pending regulatory and shareholder approvals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Methanex is no stranger to Egypt: <\/strong>Methanex Egypt <a target=\"_blank\" href=\"https:\/\/www.methanex.com\/about-us\/global-locations\/egypt\/\" style=\"\" rel=\"noopener\">was the first to operate<\/a> a methanol production facility in Egypt in 2011, with a current capacity of 1.3 mn tons per year. <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0k2eyCJQHLLn8EB7fYVrgPZcGCdcHyiqwn2zrTUEnyWWPhjZkzHQadcnV1JZmTEnsl\" style=\"\" rel=\"noopener\">Earlier this week<\/a>, Oil Minister Karim Badawi met with Methanex officials to discuss opportunities to locally produce green methanol. Methanex Egypt is 50% owned by Methanex Corp, while Egyptian state institutions hold 33% and Saudi-based Apicorp owns the remaining 17%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The nitty gritty: <\/strong>Methanex will make the purchase by paying USD 1.15 bn in cash, in addition to the issuance of 9.9 mn of its shares valued at USD 450 mn, giving OCI a c. 13% ownership of the company to make it the second largest shareholder. The share purchase aims to help the firms improve their joint operations, as well as consider potential further investments in the methanol industry cycle.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That\u2019s not all:<\/strong> The sale also includes OCI\u2019s 50% stake in Natgasoline \u2014 a JV with Proman \u2014 which is subject to the settling of an ongoing lawsuit. The Natgasoline facility in Beaumont, Texas has an annual capacity of 1.7 million tons of methanol, of which Methanex\u2019s share will be 850,000 tons.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All for the green: <\/strong>OCI has been restructuring and selling its assets to cut down on debt, returning capital to shareholders, and dedicating raised funds to greener chemicals such as low-carbon ammonia, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/methanex-acquire-ocis-methanol-business-205-bln-deal-2024-09-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. OCI\u2019s divestitures as of late have generated around USD 11.6 bn of expected tax-free gross proceeds, CFO Hassan Badrawi said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Sawiris has big restructuring plans for OCI:<\/strong> Egyptian b\u2019naire Nassef Sawiris \u2014 who owns a nearly 40% stake in the firm \u2014 said he was considering <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/43def9e6-cf20-4971-9508-8d1e11becc17\/brazilian-president-lula-is-meeting-el-sisi-later-today\" style=\"\" rel=\"noopener\">overhauling OCI GlobaI<\/a> in February, with one of the options being turning the empire into a cash-shell company pursuing acquisitions in new industries. The company sold its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/bda67733-685b-403a-8405-47b40e80a521\/%253cmark%253eoci%253c%2Fmark%253e-global-offloads-texas-blue-ammonia-project-for-usd-2.35-bn\" style=\"\" rel=\"noopener\">blue ammonia project in Texas<\/a> to Woodside for USD 2.35 bn in August and sold its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/c1b11e94-533d-4af4-984c-ed48fd056c83\" style=\"\" rel=\"noopener\">50% +1 stake in Fertiglobe<\/a> to Adnoc for AED 13.28 bn (USD 3.62 bn) last December, with the acquisition expected to close later this year. OCI also sold <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/2aadc017-df89-4d9e-bfa3-9707b2cc2f82\/today:-taqa-is-exploring-acquiring-stakes-in-greece-cyprus-interconnection-project-%2B-acwa-inks-a-major-ppa-in-south-africa\" style=\"\" rel=\"noopener\">100% of its USD 3.6 bn stake<\/a> in the US crop nutrient unit Iowa Fertilizers to US\u2019 Koch Ag & Energy Solutions in the same month.<\/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\/green-hydrogen\/\">green hydrogen<\/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\/oci-global\/\">OCI Global<\/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            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"643542 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=\"643542\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/643542\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-643542\" class=\"content-area-description single-story post-643542 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:\/\/app.efghermesone.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/660.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"643543\" 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=\"643543\">\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\">Education<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/palm-hills-taaleem-inaugurate-badya-university\/\">\r\n                            Palm Hills, Taaleem inaugurate Badya University                        <\/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\/10\/palm-hills-taaleem-inaugurate-badya-university\/\" 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\/10\/palm-hills-taaleem-inaugurate-badya-university\/')\">\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\/10\/palm-hills-taaleem-inaugurate-badya-university\/\">\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=Palm Hills, Taaleem inaugurate Badya University&url=https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/palm-hills-taaleem-inaugurate-badya-university\/\">\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\/10\/palm-hills-taaleem-inaugurate-badya-university\/&title=Palm Hills, Taaleem inaugurate Badya University\">\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=Palm+Hills%2C+Taaleem+inaugurate+Badya+University+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F09%2F10%2Fpalm-hills-taaleem-inaugurate-badya-university%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\/10\/palm-hills-taaleem-inaugurate-badya-university\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/684.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"643544\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/palm-hills-taaleem-inaugurate-badya-university\/684-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/684.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"684.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/684.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/684.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-643543\" class=\"content-area-description single-story post-643543 post type-post status-publish format-standard has-post-thumbnail hentry category-education tag-education tag-enterpriseam tag-palm-hills-developments tag-taaleem 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\/.3d462529-dbc3-44f3-83de-1ff357efaa2a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Badya University finall<\/strong><strong>y opens its doors:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.badyauni.edu.eg\/\" style=\"\" rel=\"noopener\">Badya University<\/a>, a joint venture between real estate developer <a target=\"_blank\" href=\"https:\/\/www.palmhillsdevelopments.com\/en-us\/getInTouch\/417908d6-44c9-40d0-a6d8-4d4b3188c9c0\/resedential_projects\" style=\"\" rel=\"noopener\">Palm Hills Developments<\/a> and higher education outfit <a target=\"_blank\" href=\"https:\/\/www.taaleem.me\/index.php\" style=\"\" rel=\"noopener\">Taaleem<\/a>, was inaugurated yesterday in New October City, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02w5AwJxfQdLvAQCpCY6VsrVCJLWZRXLpoeGQZnid6rLw6qxjMYfBvEb9mc5Xk3puAl\" style=\"\" rel=\"noopener\">statement<\/a>. The university is part of Palm Hills\u2019 larger EGP 100 bn <a target=\"_blank\" href=\"https:\/\/www.palmhillsdevelopments.com\/en-us\/getInTouch\/4bd4b6de-35e4-42bc-a2e0-e0b13be506ad\/mega_residential_projects?campaignid=campaignid&amp;adgroupid=adgroupid&amp;keyword=keyword&amp;keyword=badya&amp;device=device&amp;device=c&amp;campaignname=%7Bcampaignname%7D&amp;adgroupname=%7Badgroupname%7D&amp;gad_source=1&amp;gclid=CjwKCAjwufq2BhAmEiwAnZqw8klnIEW07_CcC0yzmu2F1hJWksHhJFl5Eazoadn_qFWbYSmGr_guPRoCOGsQAvD_BwE\" style=\"\" rel=\"noopener\">Badya<\/a> development in West Cairo.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Students can enroll in five colleges this academic year:<\/strong> The university includes three medical colleges that have been developed in <a target=\"_blank\" href=\"https:\/\/www.badyauni.edu.eg\/about-badya-university\/academic-partnership\/\" style=\"\" rel=\"noopener\">partnership<\/a> with the <a target=\"_blank\" href=\"https:\/\/www.utmb.edu\/\" style=\"\" rel=\"noopener\">University of Texas Medical Branch (UTMB)<\/a>&nbsp;and two non-medical schools, all five of which are slated to welcome students starting the 2024-2025 academic year. The programs include medicine, dentistry, physiotherapy, business administration and applied economics, in addition to computer and data sciences.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also on offer:<\/strong> The university, which has a capacity of over 12k students, will provide vocational training in partnership with industrial and service institutions. The campus also houses sports and entertainment facilities that seek to offer a comprehensive university experience.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Palm Hills is also offering full scholarships for top-mark high schoolers to study at Badya<\/strong><strong> University<\/strong>, the local real estate player said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/556.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> The scholarships will cover tuition fees, career training programs, and employment offers after graduation<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Universities in the country have doubled over the past decade:<\/strong> The number of universities has grown from around 50-52 in 2014 to 100 today, Prime Minister Moustafa Madbouly <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid035Nu1RhABptZiyKirzcbHZJmPJGrx2wTWVUmSGu5KBq861j8BTnGi6S5axSL9H3gzl\" style=\"\" rel=\"noopener\">noted<\/a> during the inauguration, adding that efforts to build new universities are part of the government\u2019s goal to become a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08518848-9ea0-4598-9cea-6bd2b2c264e3\/\" style=\"\" rel=\"noopener\">regional hub in higher ed<\/a> and attract students from neighboring countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This isn\u2019t Palm Hills\u2019 only education development in the pipeline: <\/strong>The company plans to open 10 schools in the country and to expand its hotel portfolio from 1k rooms to 4k within the next 10 years, the company\u2019s chairman Yaseen Mansour told <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/AsharqbEGY\/posts\/pfbid0345sSshJ7ssjQayftRyGB4XeBWsrx7ka7GiCheN6pNYbSbmnEqwTzcxMuUbo1zXJUl\" style=\"\" rel=\"noopener\">Asharq Business<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palm-hills-developments\/\">Palm Hills Developments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/taaleem\/\">Taaleem<\/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=\"643545\" 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=\"643545\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/flapkap-raises-usd-34-mn-in-pre-series-a-round\/\">\r\n                            Egypt-born fintech FlapKap raises USD 34 mn in pre-series A round                        <\/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\/10\/flapkap-raises-usd-34-mn-in-pre-series-a-round\/\" 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\/10\/flapkap-raises-usd-34-mn-in-pre-series-a-round\/')\">\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\/10\/flapkap-raises-usd-34-mn-in-pre-series-a-round\/\">\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=FlapKap raises USD 34 mn in pre-series A round&url=https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/flapkap-raises-usd-34-mn-in-pre-series-a-round\/\">\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\/10\/flapkap-raises-usd-34-mn-in-pre-series-a-round\/&title=FlapKap raises USD 34 mn in pre-series A round\">\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=FlapKap+raises+USD+34+mn+in+pre-series+A+round+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F09%2F10%2Fflapkap-raises-usd-34-mn-in-pre-series-a-round%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\/10\/flapkap-raises-usd-34-mn-in-pre-series-a-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/679.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"643546\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/flapkap-raises-usd-34-mn-in-pre-series-a-round\/679-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/679.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"679.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/679.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/679.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-643545\" class=\"content-area-description single-story post-643545 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam tag-fintech tag-flapkap tag-startup-watch tag-startups 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\/.5a342b71-e58b-4a40-bf33-f2525a70c6ae.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt-born, Abu Dhabi-based fintech platform <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.flapkap.com\/\" style=\"\" rel=\"noopener\">FlapKap<\/a><\/strong><strong> secured USD 34 mn in a<\/strong> <strong>pre-series A funding round<\/strong> led by Dubai\u2019s Beco Capital, the startup <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/flapkap_fintech-platform-flapkap-secures-34m-in-activity-7238889426800529408-zL6D?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">announced<\/a>. FlapKap also thanked Pact VC for their \u201csignificant backing.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The round also saw participation from existing investors<\/strong> A15, Nclude, and QED Investors, alongside debt financing from Channel Capital.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FlapKap? <\/strong>The company offers financing to SMEs that have limited access to traditional financing through banks or VCs. Entrepreneurs can get upfront financing to scale their inventory and digital marketing, which they pay back as a percentage of revenues. FlapKap also offers AI-based insights and financial data analytics.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s the money going?<\/strong> FlapKap will use the funding to expand its presence in the UAE and the GCC at large, deploy more capital to support SMEs, and enhance its tech infrastructure, including launching trade finance products for B2B businesses.<\/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\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/flapkap\/\">FlapKap<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"643547\" 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=\"643547\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/misr-clearing-names-khaled-serry-seyam-as-chairman\/\">\r\n                            Misr Clearing names Khaled Serry Seyam as chairman                        <\/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\/10\/misr-clearing-names-khaled-serry-seyam-as-chairman\/\" 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\/10\/misr-clearing-names-khaled-serry-seyam-as-chairman\/')\">\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\/10\/misr-clearing-names-khaled-serry-seyam-as-chairman\/\">\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=Misr Clearing names Khaled Serry Seyam as chairman&url=https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/misr-clearing-names-khaled-serry-seyam-as-chairman\/\">\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\/10\/misr-clearing-names-khaled-serry-seyam-as-chairman\/&title=Misr Clearing names Khaled Serry Seyam as chairman\">\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=Misr+Clearing+names+Khaled+Serry+Seyam+as+chairman+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F09%2F10%2Fmisr-clearing-names-khaled-serry-seyam-as-chairman%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\/10\/misr-clearing-names-khaled-serry-seyam-as-chairman\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/688.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"643548\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/misr-clearing-names-khaled-serry-seyam-as-chairman\/688-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/688.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"688.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/688.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/688.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-643547\" class=\"content-area-description single-story post-643547 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam tag-misr-for-central-clearing-depository-and-registry tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.7858b615-4593-4e9c-a697-d2bf9d2077ec.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Misr Clearing has a new chairman at the helm: <\/strong>The Misr Clearing and Depository Company\u2019s board of directors have chosen Khaled Serry Seyam (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/dr-khaled-serry-seyam-0ba094104\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as the company\u2019s next chairman, according to <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/09\/09\/1824526\" style=\"\" rel=\"noopener\">Al Borsa<\/a>, with the board also voting to retain Hesham Mabrouk (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/hesham-mabrouk-0ab50515\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) in his role as managing director. Following the Financial Regulatory Authority\u2019s (FRA) approval, the board will call for an extraordinary general assembly within three weeks \u201cto determine the tasks of the new board for its term from 2024 to 2027.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Khaled Serry Seyam brings a wealth of experience to his role at the board\u2019s helm,<\/strong> including a period as head of the EGX between 2010 and 2011 alongside stints as vice chairman of the FRA and the Capital Markets Authority between 2008 and 2010. Seyam has also served as advisor to the justice, foreign trade, and finance ministries alongside numerous international organizations.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-for-central-clearing-depository-and-registry\/\">Misr for Central Clearing Depository and Registry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"643549 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"643549\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/643549\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-643549\" class=\"content-area-description single-story post-643549 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicContactUs\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1877.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"643550\" 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=\"643550\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/tensions-with-israel-again-carry-the-airwaves\/\">\r\n                            Tensions with Israel again carry 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\/10\/tensions-with-israel-again-carry-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\/10\/tensions-with-israel-again-carry-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\/10\/tensions-with-israel-again-carry-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=Tensions with Israel again carry the airwaves&url=https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/tensions-with-israel-again-carry-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\/10\/tensions-with-israel-again-carry-the-airwaves\/&title=Tensions with Israel again carry 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=Tensions+with+Israel+again+carry+the+airwaves+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F09%2F10%2Ftensions-with-israel-again-carry-the-airwaves%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" 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data-image-title=\"694.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/694.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/694.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-643550\" class=\"content-area-description single-story post-643550 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-competition-watch tag-diplomacy tag-enterpriseam tag-gaza tag-israel tag-last-nights-talk-shows 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\/.f155b857-5746-42eb-b85e-a003e623adc8.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The talk shows once again focused on escalating tensions between Egypt and Israel<\/strong> after Foreign Minister Badr Abdelatty said during a joint press conference with his Danish counterpart Lars Lokke Rasmussen yesterday that Israeli Prime Minister Benjamin Netanyahu\u2019s claims regarding weapons smuggling into Gaza through Sinai \u201care pure fabrications and lies, aimed at diverting attention from reaching a ceasefire agreement.\u201d He added that \u201cEgypt has spent huge sums over the past ten years to establish a security fence on the border with Gaza, ensuring the complete destruction of the tunnels\u201d (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=RMKgcuwQWBU\" style=\"\" rel=\"noopener\">watch, runtime: 3:56<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cEvery time we get close to reaching an agreement to end the war, new excuses,<\/strong><strong> allegations, and fabrications appear that have no connection to reality,\u201d <\/strong>Abdelatty continued. \u201cWhere do the weapons in the West Bank come from? Did they also come through tunnels from Egypt?\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Amr Adib on his show El Hekaya and Ahmed Moussa on his show Ala Mas\u2019ouleety<\/strong><strong> praised Abdelatty\u2019s statements,<\/strong> with Adib saying that, \u201cIsrael is every day losing Egypt as a stakeholder in solving the Gaza tragedy\u201d (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=El-NzcVfjdI\" style=\"\" rel=\"noopener\">watch, runtime 2:59<\/a>). Moussa, for his part, said that the Foreign Minister\u2019s response to Netanyahu\u2019s claims \u201cwas strong and tough,\u201d adding, \u201cEnough diplomacy in dealing with Israel\u201d (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=ppdWA4ASiV4\" style=\"\" rel=\"noopener\">watch, runtime: 2:42<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/competition-watch\/\">competition watch<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"643552\" 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=\"643552\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/cnn-profiles-a-dutch-engineers-plans-to-green-the-sinai-peninsula\/\">\r\n                            CNN profiles Dutch engineer\u2019s plans to green the Sinai Peninsula                        <\/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\/10\/cnn-profiles-a-dutch-engineers-plans-to-green-the-sinai-peninsula\/\" 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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According to van der Hoeven, his proposed changes \u2014 which he says will regreen the area over 20-40 years \u2014 will bring back clouds, rain, and moisture-laden wind to Sinai.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Great plan or dangerous techno-utopianism? <\/strong>Yet some question the efficacy of van der Hoeven\u2019s and others\u2019 attempts to massively re-engineer the environment, warning that the consequences of changing ecosystems are highly unpredictable and pointing out that planting vegetation and eliminating desert land can paradoxically have warming effects.<\/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\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/environment\/\">environment<\/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=\"643554\" 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=\"643554\">\r\n            \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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/auto-jameel-to-assemble-up-to-15k-gac-cars-locally-plus-rameda-vodafone-ayadi-entlaq-acud-raya-foods\/\">\r\n                            Auto Jameel to assemble up to 15k GAC cars locally: PLUS: Rameda, Vodafone, Ayadi, Entlaq, ACUD, Raya Foods                        <\/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\/10\/auto-jameel-to-assemble-up-to-15k-gac-cars-locally-plus-rameda-vodafone-ayadi-entlaq-acud-raya-foods\/\" target=\"_blank\">\n                    Open in new tab                    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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/auto-jameel-to-assemble-up-to-15k-gac-cars-locally-plus-rameda-vodafone-ayadi-entlaq-acud-raya-foods\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/30.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"643555\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/auto-jameel-to-assemble-up-to-15k-gac-cars-locally-plus-rameda-vodafone-ayadi-entlaq-acud-raya-foods\/30-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/30.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"30.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/30.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/30.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-643554\" class=\"content-area-description single-story post-643554 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-acud tag-agriculture tag-al-safy-group tag-also-on-our-radar tag-automotive tag-egypt-post tag-energy tag-enterpriseam tag-entlaq tag-food tag-itida tag-manufacturing tag-oil-and-gas tag-pharma tag-rameda-pharma tag-startups tag-vodafone-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.82407644-1405-48a7-aa02-5f0ca1c04c81.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">AUTOMOTIVES-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A<\/strong><strong>nother Chinese auto manufacturer plans local assembly in Egypt: <\/strong>Auto Jameel \u2014 the local agent for Chinese automobile manufacturer GAC Motor and other car brands \u2014 is set to begin assembling 2-3 GAC models locally, with plans of manufacturing 10-15k vehicles per year, in what would be the first locally produced GAC models, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a3%d9%88%d8%aa%d9%88-%d8%ac%d9%85%d9%8a%d9%84-%d8%aa%d8%ae%d8%b7%d8%b7-%d9%84%d8%a5%d9%86%d8%aa%d8%a7%d8%ac-10-%d8%a2%d9%84%d8%a7%d9%81-%d8%b3%d9%8a%d8%a7%d8%b1%d8%a9-%d9%85%d9%86-gac\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports, citing unnamed sources. The company is set to produce 5k vehicles from each model annually, the sources said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company will initially begin producing at third-party production lines,<\/strong> until it establishes its own independent factory within three years, according to Al Mal. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Prime Minister Moustafa Madbouly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5eb9f636-99c8-4dc9-a327-72722d4229d6\/egypt-inks-over-usd-1.1-bn-worth-of-agreements-and-mous-at-forum-on-china-africa-cooperation\" style=\"\" rel=\"noopener\">offered<\/a> to give GAC Motor special incentives and a golden license to expand production to Egypt during the three-day Forum on China-Africa Cooperation.<\/p><p class=\"tag-border-left\">PHARMA-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Introducing Glow, Rameda\u2019s new subsidiary:<\/strong> Local pharma player Rameda has announced the establishment of a new subsidiary \u2014 dubbed Glow \u2014 that will specialize in freely priced cosmetics and cosmeceuticals, Rameda announced in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/618.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The first wave of products under the newly established firm is set to be launched in the market by January 2025, the company said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cGlow, as a newly established subsidiary of Rameda, will not only contribute to our financial performance but will also play a pivotal role in transforming our revenue base\u2026this strategic move focuses on import substitution in the cosmetics and cosmeceuticals markets, addressing the gap created by the unaffordability of imported products due to successive devaluations,\u201d Rameda CEO Amr Morsy said.<\/p><p class=\"tag-border-left\">MANUFACTURING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Vodafone Egypt to begin manufacturing routers locally: <\/strong>Vodafone Egypt has signed an agreement with the privately held Al Safy Group and Malaysian tech company Green Packet to manufacture high-speed internet routers locally, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/09\/09\/1824262\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports. The collaboration will see Vodafone raise production to 1 mn devices per year for the domestic market and for export, with African markets being the telecom company\u2019s first target, according to unnamed sources speaking to <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/09\/09\/1824398\" style=\"\" rel=\"noopener\">Al Borsa<\/a> in a separate story. The company also aims to bring the percentage of local components used in the routers to global levels within two years \u2014 part of a larger push to localize the telecom industry.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- State-owned Ayadi for Investment &amp; Development is planning to set up three<\/strong><strong> industrial complexes in villages with over EGP 300 mn in investments,<\/strong> Chairman Osama Saleh told <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1833151197525454974\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The first EGP 100 mn complex, which is based in Fayoum and will produce ready-made clothing, is set to launch by the end of January, according to Saleh. If the project goes well, the company plans to establish two more industrial complexes, with the company currently looking at areas in Minya and the Nile Delta.<\/p><p class=\"tag-border-left\">ENERGY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt is hoping to up its imports of Israeli gas by 13% by next month:<\/strong> The Oil Ministry is looking to increase its Israeli gas imports by the equivalent of 150 mn cf\/d to reach 1.1 bn by October, a government official reportedly told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/09\/09\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B3%D8%B9%D9%8A-%D9%84%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D9%88%D8%A7%D8%B1%D8%AF%D8%A7%D8%AA%D9%87%D8%A7-%D9%85%D9%86-%D8%A7%D9%84%D8%BA%D8%A7%D8%B2-%D8%A7%D9%84%D8%A7%D8%B3%D8%B1%D8%A7%D8%A6%D9%8A%D9%84%D9%8A-13-%D8%AE%D9%84%D8%A7%D9%84-%D8%A3%D9%83%D8%AA%D9%88%D8%A8%D8%B1\" style=\"\" rel=\"noopener\">Al Arabiya Business<\/a>. Our daily imports of gas from Israel rose to 950 mn cf\/d at the beginning of September, up from 870 mn during the previous month, the official said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The Israeli Energy Ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6847b376-eb36-40fe-b962-24e215f4ab8c\/egypt-negotiating-lease-of-regasification-unit-from-norway%25e2%2580%2599s-h%25c3%25b6egh-lng.-plus:-exports-from-israel-to-ramp-up-by-2h-2025\" style=\"\" rel=\"noopener\">greenlit<\/a> an agreement in February to increase its gas exports to Egypt from Chevron\u2019s offshore Tamar field three-fold starting July 2025 and carrying on for the next 11 years. Israeli exports of natural gas to Egypt were reportedly set to rise to 1.5 bn cf\\d starting from 2H 2025.<\/p><p class=\"tag-border-left\">M&amp;A-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Entlaq Holding inks agreement to acquire minority stake in Brotinni:<\/strong> Cairo-based startup accelerator and consulting firm Entlaq Holding <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/entlaqholding_entrepreneurship-egypt-entlaq4startups-activity-7238907168865849345-zjC9\/?utm_source=share&amp;utm_medium=member_android\" style=\"\" rel=\"noopener\">announced<\/a> its acquisition of a minority stake in Egypt-based food solutions provider Brotinni. The acquisition will see Entlaq leverage its business development experience to help \u201caccelerate Brotinni\u2019s growth within Egypt and facilitate its entry into regional markets across the Middle East,\u201d according to the statement.<\/p><p class=\"tag-border-left\"> STARTUPS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ACUD launches proptech incubator:<\/strong> The Administrative Capital for Urban Development (ACUD) has launched a incubator for real estate startups, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/633.pdf\" style=\"\" rel=\"noopener\">statement<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/633.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. The initiative aims to equip startups with the resources to succeed in the proptech sector. ACUD Chairman Khaled Abbas also underscored the importance of proptech in the future of urban development and supporting the transition towards smart cities in the statement.wrapped on Friday in Beijing.<\/p><p class=\"tag-border-left\"> AGRICULTURE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Raya Foods inks agreement to add 800 acres of strawberry production to its portfolio:<\/strong> Raya Foods has signed an agreement with nine agricultural producers to grow 800 additional acres of strawberries, as part of a push to strengthen the company\u2019s exports and local production, according to a company <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/659.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/acud\/\">ACUD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-safy-group\/\">Al Safy Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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                            <a rel=\"tag\" 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wp-post-image\" alt=\"\" data-attachment-id=\"643557\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/traditional-tech-struggles-as-ai-boom-overshadows-sectors-slump\/677-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/677.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"677.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/677.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/677.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-643556\" class=\"content-area-description single-story post-643556 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-ai tag-enterpriseam tag-financial-markets tag-microsoft tag-nvidia tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.cd5ae192-ceb6-42df-8aff-222648d7fc8c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>AI boom hides broader tech struggles: <\/strong>While AI giants like Nvidia and Microsoft are thriving, many tech companies not focused on AI are still feeling the pinch from a slowdown that started in 2022, when the tech-centric Nasdaq Composite fell by about 30%, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0b14d871-2d19-46f1-9660-5466301e8066\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The data paints a mixed picture: <\/strong>The S&amp;P 500 IT sub-index's revenue growth has slowed to 6.9% over the past year, well below its five-year average of 10%. Smaller firms, especially those in the Russell 2000, are facing even tougher conditions with falling revenue and earnings. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s happening? <\/strong>More traditional tech sectors \u2014 including companies in software, IT, consulting, and electronic equipment manufacturers \u2014 are seeing weak demand after a boom during the pandemic that prompted them to increase investments, including through hiring, overexpansion, and overstocking of inventories \u2014 especially as customers with limited budgets look towards investments in AI. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cWhat we\u2019re seeing in tech is still kind of the unwinding of the over-hiring and overspending that we saw at the beginning of the pandemic,\u201d <\/strong>Facebook co-founder and Asana CEO Dustin Moskovitz told analysts last week. \u201cAnd then that all couples with what I think is massive uncertainty in the economic environment. And then, also, just with how AI is going to play out.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This could change soon, with investors already showing signs of pivoting to less hyped up subsectors<\/strong> like financial services and industrials, and the excitement towards AI and data players subsides. Expected interest rate cuts are also expected to help, one portfolio manager said. <\/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>Asia-Pacific markets are rising<\/strong> as Wall Street stocks rebounded from their worst week so far this year, with Japan\u2019s Nikkei up 0.52%, the Topix up 0.65%, and South Korea\u2019s Kospi up 0.17%. <strong>Wall Street futures<\/strong> are little changed from the gains made yesterday.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:141.8pt;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:136.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,375<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +22.0%)<\/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:141.8pt;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:136.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 48.29<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.43<\/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:141.8pt;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:136.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 48.32<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.42<\/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:141.8pt;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:136.5pt;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:139.5pt;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:141.8pt;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:136.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,963<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: 0.0%)<\/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:141.8pt;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:136.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,355<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.0% (YTD: -2.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:141.8pt;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:136.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,359<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +7.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:141.8pt;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:136.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,471<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2% (YTD: +14.7%)<\/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:141.8pt;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:136.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,271<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.1% (YTD: +7.0%)<\/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:141.8pt;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:136.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,779<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: +5.7%)<\/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:141.8pt;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:136.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 71.84<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:141.8pt;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:136.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.14<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:141.8pt;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:136.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,532.70<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3%<\/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:141.8pt;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:136.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 57,254.10<\/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:139.5pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+5.3% (YTD: +35.2%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 0.3% at yesterday\u2019s close<\/strong> on turnover of EGP 3.7 bn (4.4% below the 90-day average). Local investors were the sole net buyers. The index is up 22.0% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>EK Holding -USD (+7.9%), Palm Hills Development (+3.7%), and EK Holding -EGP (+3.1%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Alex Containers and Cargo Handling (-4.3%), Abu Qir Fertilizers (-3.2%), and AMOC (-1.2%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/microsoft\/\">microsoft<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nvidia\/\">Nvidia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"643558\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">12<\/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\/how-far-have-egypts-environmental-and-sustainability-efforts-come-over-the-past-decade\/\">\r\n                            How far have Egypt\u2019s environmental and sustainability efforts come over the past decade?<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/how-far-have-egypts-environmental-and-sustainability-efforts-come-over-the-past-decade\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The report probes into a wide range of areas, including greenhouse gas emissions reduction, renewable energy development, waste management, water conservation, and air quality.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GHG emissions are taking a downward turn:<\/strong> After more than doubling between 1990 and 2015, greenhouse gas (GHG) emissions have been declining since 2017, reaching 300 mn tons in 2020 compared to 325 mn tons in 2015. Our annual emissions per capita amounted to 2.8 tons in 2020 \u2014 less than half the world average of 6.3 tons. This progress is attributed to efficiency gains in the energy sector and recent developments in renewable energy projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Energy efficiency targets are progressing:<\/strong> The country developed the Integrated Sustainable Energy Strategy 2035 to reduce energy demand by 18% by 2035. The strategy aims to upgrade generation and transmission infrastructure with new technologies such as installing 20 mn smart meters within only ten years. The government began establishing energy efficiency units in ministries with plans in the works for a digitalised, sector-wide monitoring system. The petroleum sector also developed the Energy Efficiency Strategy 2022-35 \u2014 a first \u2014 aiming to achieve 10% of energy savings by 2027.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Clean energy transition is taking place gradually:<\/strong> Egypt adheres to the World Bank\u2019s Zero Routing Flaring Initiative and the Global Methane Pledge to reduce methane by 30% by 2030. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Energy diversification is the name of the game: <\/strong>Our Nationally Determined Contributions (NDC) were updated in 2023 to increase the contribution of renewables to 42% of the energy production by 2030 instead of 2035. Diversification of the country\u2019s energy mix is a top priority of the government, with plans to complete the country\u2019s first nuclear plant in 2030 in El Daaba \u2014 projected to cover 3% of the country\u2019s power generation. Renewable energy projects covered 6% of the energy mix in 2021.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EVs are also set to play an important part in the country\u2019s green transition:<\/strong> The government set an electric mobility strategy in 2019 to increase the market share of private EVs to 50% by 2040. A plan was also announced to ban new sales of internal combustion engine vehicles beginning by 2040. Various proposed EV manufacturing projects have been discussed with foreign companies and the government is keen to support these efforts with government subsidies that could potentially support one third of local production costs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Improving waste management is part of the plan:<\/strong> The country has set a target to reduce landfilled waste to 20% by 2030. There are also plans to develop solid waste management infrastructure, increasing collected waste from 55% to 95% between 2022 and 2025. Additionally, the government also wants to pursue waste-to-energy projects and turn 20% of collected waste into energy by 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Water management is a top priority: <\/strong>The government is encouraging farmers to switch to modern irrigation systems, with canals in the Delta being rehabilitated to reduce water loss. Water pollution is also important to the government, which has tightened the penalty for factories whose waste discharge leads to the pollution of waterways. The portion of treated wastewater grew from 50% to 74% between 2015 and 2022.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Marine protection is getting strategic attention:<\/strong> Egypt is planning to declare the entire coral reef habitat of the Red Sea as protected areas through a prime ministerial decree in the summer of 2024, according to the report. Out of the EGP 500 mn raised through tickets to enter the country\u2019s protected areas in 2023, 75% of it was directed to environmental protection programs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Progress<\/strong><strong> has been made on the air pollution front:<\/strong> The country met its set target for 2020 by reducing PM10 emissions by 15% compared to 2015 levels in Cairo. The annual average concentration of PM2.5 also decreased over the past decade and went below the national limit value of 50 \u00b5g\/m3 in 2022.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top green economy stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Egypt\u2019s first construction and demolition waste recycling project is in the works<\/strong>, after ZeroCarbon inked a partnership with the New Urban Communities Authority for a project, whose first phase will kick off in New Cairo\u2019s Beit Al Watan (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/zerocarbonsustainability_zerocarbon-decarbonization-waste-activity-7237166296595890179-3gvV?utm_source=share&amp;utm_medium=member_desktop\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<li><strong>Is Hurghada finally getting its 20 MW solar power plant? <\/strong>Mitsubishi and another undisclosed firm were selected to set up a EUR 90 mn, 20 MW solar power plant in Hurghada, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%aa%d8%ad%d8%a7%d9%84%d9%81-%d9%8a%d8%a7%d8%a8%d8%a7%d9%86%d9%89-%d9%8a%d9%81%d9%88%d8%b2-%d8%a8%d9%85%d9%86%d8%a7%d9%82%d8%b5%d8%a9-%d8%aa%d8%af%d8%b4%d9%8a%d9%86-%d8%a7%d9%84%d9%85%d8%ad%d8%b7\/\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bc61c9cb-c9a8-4ee7-b783-f85438916860\/%253cmark%253emitsubishi%253c%2Fmark%253e-and-another-undisclosed-japanese-firm-selected-to-set-up-hurghada%25e2%2580%2599s-20-mw-solar-power-plant\" style=\"\" rel=\"noopener\">local media reported<\/a>. The consortium may decide on a local partner to take on the design and construct of the project as well as operate and maintain it for two years. <\/li>\n<li><strong>ACWA Power\u2019s green hydrogen megaproject now has a due date for its first<\/strong><strong> phase: <\/strong>Saudi renewable energy developer ACWA Power expects to complete the first, USD 4 bn portion of its green hydrogen project in the Suez Canal Economic Zone by 4Q 2028.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/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\/oecd\/\">OECD<\/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=\"643560\" 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\/10\/643560\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-643560\" class=\"content-area-description single-story post-643560 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 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;\">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;\">12 September (Thursday): Egypt\u2019s tender for 20 LNG cargoes is set to close.<\/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.<\/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>29 September (Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.amcham.org.eg\/events-activities\/events?keyword=Madbouly&year=all&category=all\" style=\"\">AmCham Egypt Real Estate Conference<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 September (Monday): Ban on sugar exports expiration.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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 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>30 September (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/event.businessfrance.fr\/forum-daffaires-egypte\/en\/home\/\" style=\"\">Egypt Business Forum<\/a><\/span><span style=\"font-weight:400;\">, Paris.<\/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 October (Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/event.businessfrance.fr\/forum-daffaires-egypte\/en\/home\/\" style=\"\">Egypt Business Forum<\/a><\/span><span>, Marseille.<\/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>30 November (Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/almalnews.com\/premium\/%d9%85%d8%b1%d9%81%d9%82-%d8%a7%d9%84%d9%83%d9%87%d8%b1%d8%a8%d8%a7%d8%a1-%d9%85%d8%af-%d9%81%d8%aa%d8%b1%d8%a9-%d8%aa%d9%84%d9%82%d9%89-%d8%b7%d9%84%d8%a8%d8%a7%d8%aa-%d8%a7%d9%84%d9%85\/\" style=\"\">Deadline<\/a><\/span><span> to apply for renewable energy projects under the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5fe8f4bb-3a22-40ac-a502-6f18fb3420db\/\" style=\"\">peer-to-peer (P2P) system<\/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;\">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>First week of November: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02ssjPZtZgtyuDjtqu6kXr1MpWTPFUnnFbPA8etz9LtXPrcjGgGnArn6sg1ryr4jEXl\" style=\"\">Egypt-Turkey high-level trade consultation mechanism.<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>November 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LLPJRjsu6SZLwtRHuLmCQxoAZB3xaXVXH8aYkMSEH3ae4aW6JCZaPe5h5u9nKmcRl\" style=\"\">Egypt to host<\/a><\/span><span style=\"font-weight:400;\"> the World Urban Forum (WUF12).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2024: The launch of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sis.gov.eg\/Story\/192175\/Trial-Operation-of-the-Sokhna-El-Alamein-Matrouh-High-Speed-Train-Starts-by-the-End-of-this-Year?lang=en-us\" style=\"\">high-speed train<\/a><\/span><span style=\"font-weight:400;\"> line linking Ain Sokhna with Al Alamein City.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">July 2025: The first operational trail of Egypt-KSA electricity interconnection line.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2Q 2025: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad18b775-3e22-4e6b-b4fc-9dd30f4b85ad\/abu-dhabi-ports-to-build-and-run%253cmark%253e-safaga-terminal%253c%2Fmark%253e,-cruise-ship-infrastructure\" style=\"\">Safaga Terminal 2<\/a><\/span><span> to start operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20 January-7 February: Egypt to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f9a5a94-cc1c-4fc1-b8c6-7c02d15cae3b\/ramadan-kareem\" style=\"\">host the African Games<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2027: Trial operations at the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52aa0e65-5b6f-4c84-aa49-70ac4152bb87\" style=\"\">Dabaa nuclear power plant<\/a><\/span><span style=\"font-weight:400;\"> expected to take place.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Badya University opens its doors | Real estate debt news | Good news for jet setters | Chinese cars, assembled in Egypt<\/p>\n","protected":false},"featured_media":643531,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-643530","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"91eaf8dc-1302-4b46-9cc7-d6a09315ea98","teaser":"Badya University opens its doors | Real estate debt news | Good news for jet setters | Chinese cars, assembled in Egypt","photo_url":"https:\/\/ent.news\/2024\/9\/710.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 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