{"id":645887,"date":"2024-10-01T00:00:00","date_gmt":"2024-10-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=645887"},"modified":"2025-12-17T20:01:10","modified_gmt":"2025-12-17T20:01:10","slug":"diving-into-egypts-non-banking-financial-sector","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/diving-into-egypts-non-banking-financial-sector\/","title":{"rendered":"Diving into Egypt\u2019s non-banking financial sector"},"content":{"rendered":"<section id=\"645889\" 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=\"645889\">\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\/10\/01\/adq-will-lay-the-foundation-stone-for-its-ras-el-hekma-project-this-week\/\">\r\n                            ADQ will lay the foundation stone for its Ras El Hekma project this week                        <\/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\/10\/01\/adq-will-lay-the-foundation-stone-for-its-ras-el-hekma-project-this-week\/\" target=\"_blank\">\n               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category-what-were-tracking-today tag-enterpriseam tag-ras-el-hekma tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.39c9cfab-f1de-423d-81be-a2abb47ae777.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morn<\/strong><strong>ing, friends<\/strong>, and welcome to a new month and a new quarter. We\u2019re ringing in 4Q with a brisk issue as we start counting down to the long weekend. <\/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- Construction work on the Ras El Hekma project will officially kick off on Friday:<\/strong> Emirati sovereign wealth fund ADQ will lay the foundation stone for its USD multi-bn Ras El Hekma project on Friday, Deputy Housing Minister for Technical Affairs Abdul Khaleq Ibrahim told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/09\/30\/%D9%85%D8%B3%D8%A4%D9%88%D9%84-%D9%88%D8%B6%D8%B9-%D8%AD%D8%AC%D8%B1-%D8%A3%D8%B3%D8%A7%D8%B3-%D8%B1%D8%A3%D8%B3-%D8%A7%D9%84%D8%AD%D9%83%D9%85%D8%A9-%D8%A3%D9%83%D8%AA%D9%88%D8%A8%D8%B1-%D8%A7%D9%84%D9%85%D9%82%D8%A8%D9%84-%D9%88%D9%85%D8%AE%D8%B7%D8%B7-%D8%B1%D8%A3%D8%B3-%D8%A8%D9%86%D8%A7%D8%B3-%D8%AA%D8%AD%D8%AA-%D8%A7%D9%84%D8%AA%D8%B7%D9%88%D9%8A%D8%B1\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. The first phase of the project \u2014 for which work has already unofficially begun \u2014 will take three years and cover 10k feddans, Ibrahim added.<\/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=\"wwtt2\"><\/a> <strong>#2- Gov\u2019t to start the move to cash-based subsidies with the FY 2025-26: <\/strong>The Madbouly government will start introducing cash-based subsidies on a trial basis in certain areas of the country starting next fiscal year, Supply Minister Sherif Farouk told Extra News\u2019 Kalam Fi El Seyasa yesterday (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/extranewstv\/videos\/1209468460105792\" style=\"\" rel=\"noopener\">w<\/a><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/extranewstv\/videos\/1209468460105792\" style=\"\" rel=\"noopener\">atch, runtime: 50<\/a><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/extranewstv\/videos\/1209468460105792\" style=\"\" rel=\"noopener\">:48<\/a>). <\/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 last month <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8006b9d5-4a15-40d9-811a-8e885083c8b2\/commodities,-tourism-incentives,-and-subsidies-were-the-main-talking-points-in-madbouly%25e2%2580%2599s-weekly-presser\" style=\"\" rel=\"noopener\">said<\/a> that he hopes to see the initial phases of the implementation of cash-based subsidies at some point during the next fiscal year. The matter has already been discussed by the National Dialogue, which is now in talks with the government over how it could be implemented, he said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know about the transition away from in-kind subsidies: <\/strong>Transitioning from in-kind subsidies to cash-based government support is a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce01f29c-8a4e-43ba-ac77-91e06d5c9990\/imf-to-begin-fourth-loan-review-by-october-at-the-latest\" style=\"\" rel=\"noopener\">key element<\/a> of our economic reform program linked to our most recent IMF package. Enterprise sources <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/58546cd7-5ad9-49a6-a325-645b2cf769d9\/fresh-details-on-the-move-to%253cmark%253e-cash%253c%2Fmark%253e-based%253cmark%253e-subsidies%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">previously told us<\/a> that cash-based subsidies will range between EGP 500-1,250 and will be raised annually in line with inflation levels. <\/p><p class=\"tag-border-left\">HAPPENING TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt3\"><\/a> <strong>#1- Th<\/strong><strong>e House is back in session for the last parliamentary cycle of its five-year <\/strong><strong>term:<\/strong> The House of Representatives is reconvening today after a three-month summer recess, with the Senate set to follow suit tomorrow. The session marks the final parliamentary cycle before elections in 2025 to elect a new House. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And it has a busy legislative agenda:<\/strong> Heading into the nine-month 2024-2025 parliamentary cycle, the House is set to discuss a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/247ca73c-f59a-4368-8b4c-f800c133abe0\/what-draft-laws-are-up-for-a-vote-at-parliament%25e2%2580%2599s-next-session%3F\" style=\"\" rel=\"noopener\">raft of new government-drafted laws<\/a>, ranging from reviewing amendments to the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/40e95638-fc8d-49f5-97f7-86fecef6cb40\/it%25e2%2580%2599s-blackout-decision-time-for-the-oil,-electricity-ministries\" style=\"\" rel=\"noopener\">Criminal Procedures Law<\/a> to addressing the reworked and less contentious version of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4b600e48-3b3b-4e83-be04-d646a2df05b6\" style=\"\" rel=\"noopener\">Labor Act<\/a>. Other priorities include refining the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/50798bc3-5aa9-461f-b49f-4dc35d2bbaeb\" style=\"\" rel=\"noopener\">Competition Act<\/a> to address economic concentration, implementing a new <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2780d8b-88b3-445d-80b1-18e522119bf2\" style=\"\" rel=\"noopener\">property ID system<\/a>, and advancing the long-delayed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/98db6d09-945a-4c5c-83b7-9bd6bcae8a9b\" style=\"\" rel=\"noopener\">Local Administration Act<\/a>.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Egyptian private and public sector players are in Marseille for the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/event.businessfrance.fr\/forum-daffaires-egypte\/en\/home\/\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/event.businessfrance.fr\/forum-daffaires-egypte\/en\/home\/\" style=\"\" rel=\"noopener\">Business Forum<\/a><\/strong>, which aims to strengthen business relations between Egypt and France. Orascom Investment\u2019s Naguib Sawiris and Orange Egypt CEO Yasser Shaker, and others will be representing our private sector and government officials including Investment and Foreign Trade Minister Hassan El Khatib, SCZone head Walid Gamal El Din, and General Authority for Investment and Freezones boss Hossam Heiba will also be taking to the stage. The first day of the forum took place in Paris yesterday and saw Elsewedy Electric and GAFI ink two separate MoUs with Business France.<\/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- The Global DPI Summit 2024 kicks off today: <\/strong>The three-day <a target=\"_blank\" href=\"https:\/\/www.globaldpisummit.org\/\" style=\"\" rel=\"noopener\">Global Digital Public<\/a><a target=\"_blank\" href=\"https:\/\/www.globaldpisummit.org\/\" style=\"\" rel=\"noopener\">Infrastructure Summit<\/a> begins today and \u201cwill spotlight the extraordinary progress countries are making in adopting and implementing DPI principles\u201d at the new capital\u2019s St. Regis.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#4- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/csew.net\/\" style=\"\" rel=\"noopener\">Cairo Sustainable Energy Week<\/a><\/strong><strong>kicks off today<\/strong> and will run until 3 October at the Nile Ritz-Carlton in Cairo. Under the theme Building a World that Sustains, the event will gather ministers and private sector players from across the Arab world to discuss renewable energy, grid interconnection projects, sustainable development, and everything in between.<\/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> #5- <\/strong><strong>Arab central bankers gather in Cairo: <\/strong>The Central Bank of Egypt is hosting the annual meetings of the Council of Arab Central Banks and Monetary Authorities' Governors today, according to a <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/news-publications\/news\/2024\/09\/26\/12\/11\/cbe-hosts-the-48th-annual-meetings-of-the-council-of-arab-central-banks-and-monetary\" style=\"\" rel=\"noopener\">statement<\/a>. The meetings will bring together Arab central bank governors, heads of Arab and international financial institutions, senior officials, and banking experts to discuss pressing economic issues. Discussions will address monetary policy management, private sector debt impacts on financial stability, and central banks' role in addressing climate change.<\/p><p class=\"tag-border-left\">NEWS TRIGGERS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s the first day of October \u2014 here are the key news triggers to keep your eyes on this <\/strong><strong>month:<\/strong><\/p><ul>\n<li><strong>Non-oil private sector to continue growing? <\/strong>S&amp;P Global will publish Egypt\u2019s PMI figures for September on Thursday, 3 October, measuring the country\u2019s non-oil private sector activity. Last month\u2019s non-oil private sector activity <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/32fe05be-c843-4ccd-9e99-d5fb997ce85d\/non-oil-private-sector-activity-grows-after-three-years-in-contraction\" style=\"\" rel=\"noopener\">expanded<\/a> for the first time in over three years.<\/li>\n<li><strong>All eyes on this month\u2019s inflation figures:<\/strong> Capmas and the CBE are expected to publish September\u2019s inflation data early on Thursday, 10 October. Data for August saw inflation <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4578f71a-c6a0-49f0-8352-ba9a4d9810be\/inflation-in-egypt-accelerates-to-26.2%2525-in-august-following-five-months-of-cooling\" style=\"\" rel=\"noopener\">accelerate 0.5 percentage points<\/a> to 26.2% after having fallen to its lowest level since December 2022 back in July. <\/li>\n<li><strong>Foreign reserves: <\/strong>The CBE is expected to release September\u2019s foreign reserves figures within the coming days. Reserves reached a new high of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5f9ef715-4889-4f26-916a-e4a2027d67c2\/%253cmark%253eforeign-reserves%253c%2Fmark%253e-continue-their-upward-cruise,-coming-in-at-usd-46.6-bn-in-august\" style=\"\" rel=\"noopener\">USD 46.6 bn<\/a> at the end of August. Egypt\u2019s net foreign reserves have increased by almost USD 11.3 bn in the six months since the government announced the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0b97fcf-95b0-4d39-86ae-0a4989221520\" style=\"\" rel=\"noopener\">USD 35 bn Ras El Hekma agreement<\/a>.<\/li>\n<li><strong>Interest rates:<\/strong> The central bank\u2019s Monetary Policy Committee will meet on 17 October to review interest rates. The CBE left rates unchanged when it last met in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/021ff2d7-1458-43ae-ba85-3f1274c5ae24\/cbe-holds-interest-rates-steady-in-line-with-expectations\" style=\"\" rel=\"noopener\">September<\/a>.<\/li>\n<\/ul><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s another cool day in Cairo<\/strong>, with a high of 30\u00b0C and a low of 22\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s cooler in Alexandria<\/strong>, with a high of 28\u00b0C and a low of 22\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel\u2019s launch of a ground invasion in southern Lebanon is dominating front pages in <\/strong><strong>the foreign press<\/strong>, after the Israeli military said it will be carrying out \u201climited\u201d ground raids against Hezbollah targets in the area. In the meantime, aerial attacks continued through the night in Beirut\u2019s suburbs, with at least 95 killed in the past 24 hours. This followed another brutal day of airstrikes that included the first attack on central Beirut in years. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/lebanon-israel-live-updates-hezbollah-hamas-yemen-port-hit-by-airstrikes-2024-09-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-30\/limited-israeli-incursion-into-lebanon-may-be-imminent-us-says?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2024\/09\/30\/world\/israel-lebanon-hezbollah\" style=\"\" rel=\"noopener\">NY Times<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-lebanon-hezbollah-gaza-09-29-2024-4696e581e28d8c747f017221f2cf420f\" style=\"\" rel=\"noopener\">AP<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The strikes yesterday also killed Hamas leader in Lebanon Fateh Sherif Abu El Amin<\/strong>, Hamas confirmed. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s quiet over in the business press<\/strong>, though two stories are grabbing headlines:<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- US Federal Reserve Chair Jerome Powell said that the Fed is not \u201cin a hurry\u201d to cut interest rates<\/strong>, hinting that the central bank will go for two 25 bps rate cuts in its next meetings as previously projected. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/rates-bonds\/feds-powell-says-rates-will-over-time-reach-neutral-level-not-preset-course-2024-09-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- CVS Health could potentially split its ins. and retail units<\/strong>, amid escalating pressure from investors to boost its performance, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/healthcare-pharmaceuticals\/cvs-explores-options-including-potential-break-up-sources-say-2024-09-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. This would effectively unwind CVS\u2019 USD 70 bn <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-11-28\/cvs-closes-70-billion-aetna-deal-ending-long-road-to-takeover\" style=\"\" rel=\"noopener\">takeover<\/a> of healthcare insurer Aetna in 2017. <\/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 dive into the National Bank of Egypt\u2019s efforts to support green projects through the Transforming Financial Systems for Climate program.<\/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\/ras-el-hekma\/\">Ras El Hekma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"645891 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=\"645891\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/01\/645891\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-645891\" class=\"content-area-description single-story post-645891 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\/9\/1085.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">For the first time in Egypt<\/span><span>, Somabay is thrilled to host the legendary Amy Winehouse Band live in concert. Prepare for an unforgettable evening filled with soul, jazz and iconic hits as the band performs live at Somabay\u2019s breathtaking The Marina in The Theater Somabay on 5 October. Set against the stunning backdrop of the Red Sea, this exclusive event promises a magical night of music and entertainment in a unique setting. #TheAmyWineHouseBand #OneParadiseAllSeasons #SomabayRedSea<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"645892\" 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=\"645892\">\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\">ENTERPRISE FINANCE FORUM<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/01\/a-look-into-egypts-non-banking-financial-sector\/\">\r\n                            Examining Egypt\u2019s non-banking financial sector\u2019s resilience amid recent pressures                        <\/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\/10\/01\/a-look-into-egypts-non-banking-financial-sector\/\" 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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What has been driving this resilience and what patterns are we witnessing \u2014 and what concerns should be monitored?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We gathered key players in Egypt\u2019s consumer finance sector during this year\u2019s <\/strong><strong>Enterprise Finance Forum<\/strong> \u2014 including Boston Consulting Group London Managing Director and Partner <strong>Michal Panowicz<\/strong>, MNT-Halan founder and CEO <strong>Mounir Nakhla<\/strong>, and Valu CEO <strong>Walid Hassouna<\/strong> \u2014 to discuss how players in the sector and Egyptian consumers are handling inflation and whether banks and non-banking financial institutions (NBFIs) are developing sustainable business models.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Setting the stage: <\/strong>This year has been a rather eventful one \u2014 from the 200 bps interest rate hike in February and the subsequent 600 bps hike in March, the Ras El Hekma agreement, to the float of the EGP. MNT-Halan started out the year with a strong performance in the first quarter, then saw a really slow second quarter, but 3Q was kinder to the market, with the firm seeing improved sales and installment collections, Nakhla said. Valu experienced a similar challenge after seeing tremendous growth in 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How did that translate into customer spending? <\/strong>Customers became more conservative in their purchases after the Ras El Hekma agreement, knowing that even though products were available, interest rates were bound to decrease sooner or later, Hassouna said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What about the global landscape at large?<\/strong> The state of global interest rate conditions push us to think about what regulators and the government can do to boost competitiveness and growth, Panowicz said. He pointed to the ability of NBFIs and independent players to innovate, expand financing access to customers, and anticipate risks to avoid negative impacts on the sector's credibility. Regulatory interventions tend to take a long-term view of shaping the sector rather than reacting to short-term fluctuations, he continued. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cIn Egypt, people calculate the real cost of the loan.<\/strong> They understand how much they are paying in admin fees, in interest, and in everything else, and they actually compare the price of the product they are buying in cash or if they buy them through Valu or MNT-Halan,\u201d Hassouna said. After years of relying on instant credit approval, players are now focusing on unique and innovative products, relying on analysis of consumer behavior to meet needs, and ensuring a seamless experience amid competition from 42 companies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MNT-Halan has a different approach<\/strong>, it focuses on providing a comprehensive solution for consumers by offering one service after another, working to satisfy the needs of different consumer profiles, Nakhla said. The company\u2019s entry into money market funds also represents a significant development, as it helps shift overall consumer behavior, Nakhla continued, saying that this \u2014 along with incorporating entertainment features on the app \u2014 will be a game-changer, as it will enable the company to develop a social network, Nakhla said. \u201cThe environment we operate in is full of challenges and we have to be smart. We need to be fast and as data-driven as possible.\u201d.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The impact of rising rates and the devaluation:<\/strong> What happened on the ground was that liquidity was sucked from the market and when the exchange rate stabilized at EGP 60 to the USD, traders and retailers immediately wanted to liquidate inventory and goods they had purchased at exchange rates of EGP 65-74, Nakhla said. Meanwhile, consumers saw the real value of these goods at around EGP 50 to the USD, which created some market stagnation during 2Q 2024, Nakhla added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But a rebound quickly followed:<\/strong> Despite a generally inflationary environment, business activity resumed, and the economy rebounded, with retailers being able to clear their stock, gain more cash flow, and pay off their installments, and consumers also became more comfortable with carrying out their repayments, he added. The volume of non-performing loans (NPLs) increased but remained at a non-alarming level. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So, what\u2019s the real concern in terms of default rates?<\/strong> Credit losses are at an acceptable level as long as the business still looks exciting and very attractive, according to Nakhla. In lending, you will face both good and bad credit, so NPLs shouldn\u2019t be the main factor to focus on in your business at any given moment, Hassouna said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Managing NPLs in the long term involves managing every step of the lending value chain <\/strong><strong>and then deploying modern tools<\/strong>, according to Panowicz, who said that this will rely on two main elements \u2014 responsibly injecting more money and relying on machine learning to better and more dynamically identify customers when onboarding them. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>If the macroeconomic picture returns to normal, most players in the sector will be able to <\/strong><strong>make additional profits<\/strong>, as they will be able to reduce or reverse some of their provisions, Hassouna concluded. Nakhla agreed, noting that companies are already looking at risk-adjusted returns, and balancing risks across the product mix is essential to reaching that point. \u201cI think we just need to be more stringent in our scoring models and acceptance rates. Credit is quite simple \u2014 if you get the right people through the door, the people are more likely to pay,\u201d Nakhla said, stressing the need to evaluate two things: customers\u2019 ability to pay and willingness to pay.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Let\u2019s talk expansion: <\/strong>Expanding in such an environment requires having the right mix of products, as some products are inherently riskier. If a company is giving clients cash loans or credit to buy a mobile phone that they resell for cash, that\u2019s a higher-risk product \u2014 but if you have a diverse list of products, you can hedge against the risks, Hassouna said. He added that clients receiving cash loans for electronics account for only 30% of Valu\u2019s business, compared to 85% three years ago. \u201cAs we grow our appetite for higher-risk customers and our approval rates move up, what happens is that our turn-in-applications go up in a way that is not proportional to our risk appetite, but in fact, three or four times higher. So, you end up gaining more low-risk customers, despite the short-term risk,\" he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What needs to change in leasing?<\/strong> Leasing services need to be offered to consumers, rather than be limited to SMEs, Hassouna said, adding that opening the market up to consumers would provide more products that are already in demand \u2014 competition is currently limited between leasing companies and corporate banks. \u201cLeasing is still doing very well\u2026 but there are issues with funding and not catering for consumers. Solve that, and leasing services will do very well in the market,\u201d he concluded. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And on the regulatory front: <\/strong>While the CBE has tightened regulations on banks\u2019 financing of leasing companies to limit the risks associated with the activity \u2014 setting a cap on the total credit facilities and investments in securitization portfolios for leasing companies at 5% of the bank\u2019s total loan and credit facilities portfolio \u2014 the Financial Regulatory Authority has taken on the burden of market growth by focusing as much as possible on crowdfunding or attempting to amend current regulations for money market funds and fixed-income funds to enable them to acquire unrated bonds. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Correction: <\/strong>We originally incorrectly attributed to Walid Hassouna's comments about leasing to Mounir Nakhla. The story has been amended. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1962.jpg?ssl=1\"><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-finance-forum\/\">Enterprise Finance Forum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mnt-halan\/\">MNT-Halan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/valu\/\">ValU<\/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=\"645894\" 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=\"645894\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/01\/intro-tech-and-oman-data-park-to-establish-a-usd-450-mn-data-center\/\">\r\n                            Intro Tech and Oman Data Park to establish USD 450 mn data center in Egypt\u2019s SCZone                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul 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<\/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\/10\/01\/intro-tech-and-oman-data-park-to-establish-a-usd-450-mn-data-center\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/6.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"645895\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/01\/intro-tech-and-oman-data-park-to-establish-a-usd-450-mn-data-center\/6-jpg-26\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/6.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"6.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/6.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/6.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-645894\" class=\"content-area-description single-story post-645894 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-data-centers tag-enterpriseam tag-intro-group tag-investment-watch tag-suez-canal-economic-zone 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\/10\/.7632a706-4d89-4458-a4b8-0c9a88223b4f.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Another big-ticket data center in the works:<\/strong> Intro Group subsidiary Intro Technology signed a MoU with Omani data center leader <a target=\"_blank\" href=\"https:\/\/www.omandatapark.com\/\" style=\"\" rel=\"noopener\">Oman Data Park<\/a> to establish a new USD 450 mn sustainable data center in the Suez Canal Economic Zone (SCZone), according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/2287.pdf\" style=\"\" rel=\"noopener\">joint statement (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> Spanning some 80k sqm, the center \u2014 dubbed the Kemet Data Centre \u2014 will be developed in two phases and will serve large companies looking for cost-effective and advanced cloud solutions, Internet of Things (IoT), and digital transformation. The center will employ Intro Group subsidiary <a target=\"_blank\" href=\"https:\/\/advansys-esc.com\/\" style=\"\" rel=\"noopener\">Advansys<\/a> to manage legal procedures, hardware and equipment importation and design, while Oman Data Park will oversee the design, construction, and operations of the data center.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A green outlook:<\/strong> While data centers are notoriously energy-intensive operations, the Kemet Data Center will partially rely on sustainable technology including solar energy to power its operations, according to the statement<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cThis partnership represents a pivotal step in Intro Technology's strategic journey to expand its technological projects in the Middle East and Africa \u2026 We believe that Kemet Data Center will play a vital role in achieving Egypt's digital transformation goals in line with its 2030 vision and positioning it as a key hub in the data center and cloud services sector,\u201d said Mamdouh Abbas, founder and chairman of Intro Holding.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More data centers to come? <\/strong>According to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d58985e2-86bd-408d-95fd-0ea83d7421a5\/sczone-eyes-usd-60-mn%253cmark%253e-data%253c%2Fmark%253e-center-project-partnership-with-private-sector.-plus:-spe-capital,-valu-%2B-majid-al-futtaim,-tatweer-misr,-cushman-&-wakefield\" style=\"\" rel=\"noopener\">unconfirmed local reports<\/a> out last month, the SCZone wants to set up a USD 60 mn data center with a capacity of 5-7 MW in partnership with the private sector.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/data-centers\/\">Data Centers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/intro-group\/\">Intro Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/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=\"645896 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=\"645896\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/01\/645896\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-645896\" class=\"content-area-description single-story post-645896 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.eg\/insights\/2q24-ibr\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2273.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"645897\" 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=\"645897\">\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\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/01\/efg-holdings-aibank-rebrands-to-bank-nxt\/\">\r\n                            EFG Holding\u2019s aiBank rebrands to Bank NXT                        <\/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\/10\/01\/efg-holdings-aibank-rebrands-to-bank-nxt\/\" 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 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href=\"https:\/\/api.whatsapp.com\/send?text=EFG+Holding%E2%80%99s+aiBank+rebrands+to+Bank+NXT+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F01%2Fefg-holdings-aibank-rebrands-to-bank-nxt%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\/10\/01\/efg-holdings-aibank-rebrands-to-bank-nxt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/4.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"645898\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/01\/efg-holdings-aibank-rebrands-to-bank-nxt\/4-jpg-44\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/4.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"4.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/4.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/4.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-645897\" class=\"content-area-description single-story post-645897 post type-post status-publish format-standard has-post-thumbnail hentry category-banking tag-aibank tag-banking tag-efg-holding 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\/10\/.5b9980d4-3bf1-4a26-83fc-44e8cf966f63.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Goodbye aiBank, hello Bank NXT:<\/strong> EFG Holding\u2019s commercial bank, aiBank, has rebranded to Bank NXT as it embarks on a new phase of \u201cgrowth, digital innovation, and customer-centric solutions,\u201d the bank said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/2271.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>New name, new strategy: <\/strong>Bank NXT will focus on providing tailored financial solutions for individuals, SMEs, and corporate clients, while investing in human capital and digital infrastructure. As part of its growth strategy, the bank plans to triple its client base and increase its number of branches from 36 to 50 by 2027. The new identity reflects Bank NXT's ambition to become one of Egypt\u2019s top ten banks in terms of returns within the next five years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Onwards and upwards: <\/strong>Bank NXT\u2019s net income came in at EGP 901.6 mn in 1H 2024, nearly reaching the EGP 1.15 bn that the bank recorded for the whole calendar year of 2023, CEO and managing director Tamer Seif said at the press conference attended by Enterprise. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cIn today's fast-paced world, our commitment to long-term goals remains steadfast. Our successful implementation of a robust growth strategy \u2014 marked by an expansion of our geographical footprint and a commitment to digital transformation \u2014 demonstrates our adaptability. The evolution of our new corporate identity, a result of a meticulous two-year collaboration with leading branding experts, not only reflects our dedication to our clients but also embodies our future aspirations,\u201d said Seif.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aibank\/\">aiBank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-holding\/\">EFG Holding<\/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=\"645899 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=\"645899\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/01\/645899\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-645899\" class=\"content-area-description single-story post-645899 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\/9\/2301.jpeg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"645900\" 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=\"645900\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/01\/talk-shows-zero-in-on-israels-ground-invasion-of-lebanon\/\">\r\n                            Talk shows zero in on Israel\u2019s ground invasion of Lebanon                        <\/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\/10\/01\/talk-shows-zero-in-on-israels-ground-invasion-of-lebanon\/\" 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\/10\/01\/talk-shows-zero-in-on-israels-ground-invasion-of-lebanon\/')\">\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\/10\/01\/talk-shows-zero-in-on-israels-ground-invasion-of-lebanon\/\">\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=Talk shows zero in on Israel\u2019s ground invasion of Lebanon&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/01\/talk-shows-zero-in-on-israels-ground-invasion-of-lebanon\/\">\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\/10\/01\/talk-shows-zero-in-on-israels-ground-invasion-of-lebanon\/&title=Talk shows zero in on Israel\u2019s ground invasion of Lebanon\">\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=Talk+shows+zero+in+on+Israel%E2%80%99s+ground+invasion+of+Lebanon+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F01%2Ftalk-shows-zero-in-on-israels-ground-invasion-of-lebanon%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\/10\/01\/talk-shows-zero-in-on-israels-ground-invasion-of-lebanon\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/12.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"645901\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/01\/talk-shows-zero-in-on-israels-ground-invasion-of-lebanon\/12-jpg-39\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/12.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"12.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/12.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/12.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-645900\" class=\"content-area-description single-story post-645900 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-israel tag-last-nights-talk-shows tag-lebanon tag-middle-east-politics 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\/10\/.1f11273f-bd6d-4b63-872c-be78c1fb85a3.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the early hours of the morning Israel launched its ground operations in Lebanon<\/strong>, prior to which talk shows brought us coverage of Israel\u2019s preparations for the ground invasion amid intensified strikes on the Lebanon-Syria border. This comes as more than 1 mn people in Lebanon have been displaced by the conflict\u2019s escalation and amid questions about the extent to which Hezbollah can repel the invasion.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe ground attack will not be extensive<\/strong>,\u201d military strategist and commentator Samir Ragheb told El Hekaya\u2019s Amr Adib (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1224721111984679\" style=\"\" rel=\"noopener\">watch, runtime: 1:52<\/a>), adding that attacks will likely focus on the areas where Hezbollah\u2019s Nasr and Aziz units are stationed. Ragheb said (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=GF5_Yem-XsQ\" style=\"\" rel=\"noopener\">watch, runtime: 31:43<\/a>) that neither Lebanon nor Hezbollah would be able to repel the ground incursion, especially given the Hezbollah leadership\u2019s absence following Israel\u2019s killing of Hassan Nasrallah and weak communication between members following the device explosions that rocked Hezbollah earlier this month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where things stand:<\/strong> In addition to the displacement of over 1 mn people, several sectors in Lebanon \u2014 including tourism, agriculture, and trade \u2014 have come to a screeching halt, Lebanese journalist Fadi Akoum told Ala Masouleety\u2019s Ahmed Moussa (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=564846589304732\" style=\"\" rel=\"noopener\">watch, runtime: 4:32<\/a>). In addition, around 70-80% of commercial shops have closed their doors. The Lebanese government is currently responsible for about 100k displaced people, while the community and charitable organizations are caring for approximately 800k others, Akoum added.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/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=\"645902\" 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=\"645902\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/01\/intl-press-covers-alaa-abdel-fattahs-continued-imprisonment\/\">\r\n                            Int\u2019l press covers Egyptian activist Alaa Abdel Fattah\u2019s continued imprisonment                        <\/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\/10\/01\/intl-press-covers-alaa-abdel-fattahs-continued-imprisonment\/\" 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\/10\/01\/intl-press-covers-alaa-abdel-fattahs-continued-imprisonment\/')\">\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\/10\/01\/intl-press-covers-alaa-abdel-fattahs-continued-imprisonment\/\">\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=Int\u2019l press covers Alaa Abdel Fattah\u2019s continued imprisonment&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/01\/intl-press-covers-alaa-abdel-fattahs-continued-imprisonment\/\">\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\/10\/01\/intl-press-covers-alaa-abdel-fattahs-continued-imprisonment\/&title=Int\u2019l press covers Alaa Abdel Fattah\u2019s continued imprisonment\">\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=Int%E2%80%99l+press+covers+Alaa+Abdel+Fattah%E2%80%99s+continued+imprisonment+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F01%2Fintl-press-covers-alaa-abdel-fattahs-continued-imprisonment%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\/10\/01\/intl-press-covers-alaa-abdel-fattahs-continued-imprisonment\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-645902\" class=\"content-area-description single-story post-645902 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-alaa-abdel-fattah 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\/10\/.08b73587-4664-4c4f-a916-ce0d3cdd96b2.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Imprisoned activist Alaa Abdel Fattah is back in the international press<\/strong> after his mother said she had begun a hunger strike in protest of his continued detention, which the family maintains should have ended on 29 September. The news received attention from the <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/egypt-uk-rights-activist-alaa-abdelfattah-a6216260f2868a9c686e89bb0337c01c\" style=\"\" rel=\"noopener\">Associated Press<\/a> while the <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/opinions\/2024\/09\/30\/egypt-alaa-abdel-fattah-release\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> is out with an opinion piece on Abdel Fattah\u2019s detention.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alaa-abdel-fattah\/\">Alaa Abdel Fattah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    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class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/01\/more-international-players-are-interested-in-damiettas-green-ammonia-project-plus-news-from-taqa-arabia-premium-healthcare\/\">\r\n                            More international players are interested in Damietta\u2019s green ammonia project                        <\/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   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PLUS: News from Taqa Arabia, Premium Healthcare&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/01\/more-international-players-are-interested-in-damiettas-green-ammonia-project-plus-news-from-taqa-arabia-premium-healthcare\/\">\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\/10\/01\/more-international-players-are-interested-in-damiettas-green-ammonia-project-plus-news-from-taqa-arabia-premium-healthcare\/&title=More international players are interested in Damietta\u2019s green ammonia project. PLUS: News from Taqa Arabia, Premium Healthcare\">\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=More+international+players+are+interested+in+Damietta%E2%80%99s+green+ammonia+project.+PLUS%3A+News+from+Taqa+Arabia%2C+Premium+Healthcare+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F01%2Fmore-international-players-are-interested-in-damiettas-green-ammonia-project-plus-news-from-taqa-arabia-premium-healthcare%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\/10\/01\/more-international-players-are-interested-in-damiettas-green-ammonia-project-plus-news-from-taqa-arabia-premium-healthcare\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/19.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"645905\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/01\/more-international-players-are-interested-in-damiettas-green-ammonia-project-plus-news-from-taqa-arabia-premium-healthcare\/19-jpg-26\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/19.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"19.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/19.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/19.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-645904\" class=\"content-area-description single-story post-645904 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-energy tag-enterpriseam tag-green-ammonia tag-manufacturing tag-oil-and-gas tag-oil-ministry tag-pharma tag-scatec tag-startups tag-taqa-arabia 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\/10\/.cfeaffd9-451a-4b3a-ab23-a10774088249.mp3\"><\/audio><\/figure>\n<p class=\"tag-border-left\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #1- Another player to help produce green ammonia in Damietta: <\/strong>Belgium engineering group John Cockerill is joining Norwegian firms Scatec and Yara International, the Egyptian Petrochemical Holding Company, and Misr Fertilizer Production Company (Mopco) in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b44bf694-9410-4f47-beea-46b32a2a5f11\/egypt-inks-eur-67.7-bn-worth-of-agreements-and-mous-at-egypt-eu-investment-conference\" style=\"\" rel=\"noopener\">producing green ammonia in Damietta<\/a> with investments exceeding USD 900 mn, according to a ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/XPktepSeubN9bWjY\/\" style=\"\" rel=\"noopener\">statement<\/a>. The parties will produce around 150k tons of green ammonia annually in Mopco\u2019s factories. The project will include solar and wind plants, in addition to a dedicated electrolyzer.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More companies to join? <\/strong>Oil Minister Karim Badawi met with representatives from US-based oil player SLB, the European engineering company Technip, and global energy company Repsol to look into their potential participation in the project. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Taqa Arabia is looking to set up two new solar plants with investments ranging <\/strong><strong>between USD 25-30 mn<\/strong>, the company\u2019s head of sustainability Sherif Mubarak told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/09\/30\/1830233\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. In July, chairman Khaled Abu Bakr <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26c55843-5b01-4442-861e-ad6c09d8f942\/green-hydrogen,-solar,-ethane-and-wind-project-investment-news-ramps-up\" style=\"\" rel=\"noopener\">said<\/a> that the company is negotiating with clients in the tourism, industrial and agricultural sectors about proposed projects to produce 150 MW of solar energy in Egypt.<\/p>\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meeting the energy needs of building material factories: <\/strong>The Oil Ministry will ensure the supply of mazut to the building material factories through a centralized distribution system so they can operate at full capacity starting today, Transport and Industry Minister Kamel El Wazir <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MinistryTransportation\/posts\/pfbid02QVW5vnHQePhRZNK6gt81jde1q5qaHbnHo97BUY4aYjbHuzHUD9Zx7hACubXbzeMMl\" style=\"\" rel=\"noopener\">said yesterday<\/a> at the ministerial group for industrial development meeting. Alongside this, the Industrial Development Authority will inventory the energy needs of building material factories operating in the country.<\/p>\n<p class=\"tag-border-left\">STARTUPS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bokra, CIC launch EGP 10 mn student fund:<\/strong> Local fintech startup Bokra and the Canadian International College (CIC) have launched a EGP 10 mn student fund aimed at \u201cempowering change makers with disruptive ideas at CIC to embark on their entrepreneurial journey\u201d under a strategic partnership between the two sides, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/2310.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The fund will be the first under the new partnership, which will be a cornerstone of the newly launched Bokra Academy \u2014 a platform that aims to \u201cbridge the gap between academia and industry,\u201d giving users access to a range of free online courses in topics that include financial planning, marketing, technology, AI, and corporate law, the statement read.<\/p>\n<p class=\"tag-border-left\">INVESTMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lesaffre to double investments in Egypt: <\/strong>French yeast producer <a target=\"_blank\" href=\"https:\/\/lesaffre.eg\/aboutus\/\" style=\"\" rel=\"noopener\">Lesaffre Egypt<\/a> is planning to <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/A67eCpvbLdX8sFCR\/\" style=\"\" rel=\"noopener\">double its investments<\/a> in the local market to USD 100 mn. This came during meetings between Investment Minister Hassan El Khatib and a number of French companies \u2014 private equity firm Eurazeo, makeup and skincare producer L\u2019Oreal, and healthcare company Sanofi \u2014 during his <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3156017c-1e34-4147-b9e4-2658bbc31b12\/ongoing-geopolitical-tensions-continue-to-hurt-suez-canal-revenues\" style=\"\" rel=\"noopener\">multi-day visit to France<\/a> to drum up investments. <\/p>\n<p class=\"tag-border-left\">M&amp;A-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Even more acquisitions in the pipeline for Premium Healthcare: <\/strong>Medical diagnostics company Premium Healthcare has plans to expand its network of labs to 216 across Egypt, Saudi Arabia, and Jordan next year, chairman Salah El Din Baghdadi told <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4348031\/-%D8%A8%D8%B1%D9%8A%D9%85%D9%8A%D9%88%D9%85-%D9%87%D9%8A%D9%84%D8%AB-%D9%83%D9%8A%D8%B1-%D8%AA%D8%B3%D8%AA%D9%87%D8%AF%D9%81-%D8%AA%D9%88%D8%B3%D9%8A%D8%B9-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AD%D9%88%D8%A7%D8%B0-%D8%B9%D9%84%D9%89-%D9%85%D8%B9%D8%A7%D9%85%D9%84-%D8%B7%D8%A8%D9%8A%D8%A9-%D8%A8%D9%85%D8%B5%D8%B1-%D9%88%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%88%D8%A7%D9%84%D8%A3%D8%B1%D8%AF%D9%86\/\" style=\"\" rel=\"noopener\">Mubasher<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/32129322-9c63-4afb-9015-6f4043e56abb\" style=\"\" rel=\"noopener\">recently rebranded<\/a> medical group earlier this week <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/32a21f70-2b0c-45cc-a08e-3a3b63ee538a\/more-locally-made-byd-models-to-come%3F-plus:-news-from-usaid,%253cmark%253e-premium-healthcare%253c%2Fmark%253e,-oppo\" style=\"\" rel=\"noopener\">inked MoUs<\/a> for five previously-announced acquisitions that will give it a 50% stake in a number of local and Gulf medical companies and full ownership of local lab operator Hassab Labs as part of a wider plan that will see it expand its footprint across the region. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-ammonia\/\">green ammonia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-ministry\/\">Oil Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/scatec\/\">Scatec<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/taqa-arabia\/\">TAQA Arabia<\/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=\"645906\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"645906\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/01\/chinas-stock-market-is-now-in-bull-territory-as-stimulus-package-drives-extended-rally\/\">\r\n                            China\u2019s stock market is now in bull territory as stimulus package drives extended rally                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n   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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/17.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"17.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/17.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/17.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-645906\" class=\"content-area-description single-story post-645906 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets 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\/10\/.4369e461-6f98-4b78-a909-e71e4ab857ec.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Buoyed by last week\u2019s stimulus package, Chinese equities are on a tear:<\/strong> Chinese equities had their best day in 16 years yesterday, after \u201cfevered trading\u201d saw the country hitting CNY 1 tn-worth of shares traded in the shortest amount of time in its history. Chinese markets closed up 8% yesterday and will now be closed for a weeklong holiday until next Tuesday as the country celebrates its 7-day \u201cGolden Week\u201d of National Day holidays. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In Shenzhen, the ChiNext index \u2014 which is tech-heavy \u2014 closed up 15.4% yesterday<\/strong>, marking its strongest single-day performance since it was established in 2010. <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/asia\/china-stocks-set-best-month-nearly-decade-stimulus-cheer-2024-09-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-30\/chinese-stocks-head-for-bull-market-as-property-rescue-deepens\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2e3b583f-a7f7-4aa1-9b69-da6c8ff6e0e1\" style=\"\" rel=\"noopener\">Financial Times<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/09\/30\/china-stocks-just-had-their-best-day-in-16-years-sending-related-us-etfs-soaring.html\" style=\"\" rel=\"noopener\">CNBC<\/a> have the story. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The single-day performance came as investors continue to ride the wave of momentum <\/strong><strong>from last week\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/9b1229e2-2273-4769-ad0e-de8650d4cd24\/china-rolls-out-stimulus-package-to-give-a-boost-to-the-economy\" style=\"\" rel=\"noopener\">stimulus announcement<\/a><\/strong>, with China\u2019s central bank announcing it is rolling out broad monetary stimulus measures to jumpstart the country\u2019s faltering growth, including slashing a key short-term interest rate and lowering the reserve requirement ratio (RRR) to its lowest point since 2018. Critically, the stimulus package also sought to address China\u2019s flagging property market by reducing borrowing costs on USD 5.3 tn worth of mortgages and lowering down-payment requirements for second homes. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bull market territory?<\/strong> Yesterday\u2019s jump extended a rally that now puts China\u2019s CSI300 blue-chip index nearly 30% above its lowest performance in February, with the majority of that jump \u2014 around 25% \u2014 happening in the past week since the rollout of the stimulus package. Although in percentage terms, the stock market\u2019s performance is in bull market territory, some analysts are hesitant to characterize it as a bull market because such a large portion of the gains materialized in such a small period of time. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not having as good of a time: Quant funds.<\/strong> China\u2019s quant funds are struggling to keep up with margin calls as the equity rally puts pressure on their liquidity, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-30\/quant-hedge-funds-face-more-margin-calls-as-chinese-stocks-surge\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. \u201cWhen the surge in index futures exceeded gains in the underlying stocks on Friday, it imposed paper losses on some quants\u2019 hedging positions \u2026 When brokerages closed the short positions, they pushed the index futures further up along with investors [expecting] a further rally, worsening the short squeeze,\u201d the business information service said, citing an asset management player. <\/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>It\u2019s holiday season:<\/strong> With South Korean, Hong Kong, and Chinese markets all closed for holidays, Japan\u2019s Nikkei is alone in rebounding 1.7% after slipping in trading yesterday. Mainland Chinese markets are closed for the entire week, but the rest will be back to work tomorrow. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, Wall Street futures are flat<\/strong> after the S&amp;P 500\u2019s record close for September. <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">31,587<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +26.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 48.23<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.36<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 48.26<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.36<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,226<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +2.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,425<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: -1.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,503<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +10.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,762<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +20.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,237<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.0% (YTD: +6.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,000<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3% (YTD: +10.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 71.77<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.90<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,655<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 63,662<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-3.4% (YTD: +50.9%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 0.4% at yesterday\u2019s close<\/strong> on turnover of EGP 5 bn (26% above the 90-day average). Foreign investors were the sole net sellers. The index is up 26.9% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Emaar Misr (+5.3%), Elsewedy Electric (+5.1%), and TMG Holding (+2.6%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Cleopatra Hospital Company (-2.0%), Egyptian Kuwaiti Holding -EGP (-1.9%), and Juhayna Food Industries (-1.7%).<\/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\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/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=\"645908\">\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\">9<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/the-national-bank-of-egypt-is-supporting-green-projects-through-the-transforming-financial-systems-for-climate-program\/\">\r\n                            The National Bank of Egypt is supporting green projects through the Transforming Financial Systems for Climate program<\/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\/the-national-bank-of-egypt-is-supporting-green-projects-through-the-transforming-financial-systems-for-climate-program\/\" 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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We spoke with the lender\u2019s Chief International Banking Officer Hesham El Safty to get a better understanding of the TFSC program, what it entails, and the NBE\u2019s approach to climate financing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links<\/strong> to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What the program entails: <\/strong>The TFSC program \u2014 a global financial facility financed by the French Development Agency and the Green Climate Fund \u2014 provides technical assistance and financing to sub-borrowers in 17 countries, including in Egypt through the NBE. The project in Egypt aims to encourage both new and existing NBE clients to push towards a low carbon transition through the financing of SME and corporate green loans, El Safty tells us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The partnership between the NBE and the program has three main objectives:<\/strong><\/p>\n<ul>\n<li>To scale-up climate finance;<\/li>\n<li>To densify financial flows towards more diversified private sector projects serving the ecological transition;<\/li>\n<li>To reinforce the capacity of local partners in climate sectors.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s big money \u2014 and big incentives involved:<\/strong> The project \u2014 dubbed the NBExTFSC GreenGrowth loan \u2014 has allocated some EUR 100 mn to be invested in green projects across Egypt\u2019s governorates \u2014 of which EUR 75 mn have already been disbursed, El Safty said.&nbsp; The loans can go up to EUR 20 mn per project, offering competitive rates that are lower than commercial rates, foreign currency availability, extended tenors of up to ten years, and widened grace periods of up to two years, El Safty tells us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NBE, TFSC partnership has supported projects in 11 governorates around Egypt so <\/strong><strong>far<\/strong>, including Matrouh, Alexandria, Cairo, Giza, New Valley, Red Sea, South Sinai, Qalyubia, Menofiya, Damietta, and Port Said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The projects encompassed a number of different sectors: <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- A water supply and desalination project: <\/strong>One of the projects that benefited from the program is a water supply and desalination project that provides some 11.5k cbm of desalinated water per day. The project aims to reduce electricity consumption by over 19k MWh annually, which would lead to a reduction of more than 11.5k tons of CO2 per year. It also saves almost EUR 800k in energy costs per year compared to a non-green project, according to El Safty.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- An agricultural project that replaces diesel generators with solar PV systems<\/strong> to power irrigation systems, reducing the consumption of 1.99 mn liters of diesel annually for 6k acres. This results in a reduction of over 5k tons of CO2 per year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- A cold storage and refrigeration project that utilizes energy-efficient insulation <\/strong><strong>panels and refrigeration systems<\/strong>, reducing electricity consumption by over 6k MWh annually, mitigating over 5.7k tons of CO2 per year, and achieving economic returns on energy savings that amount to around EUR 147k per year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- An industrial manufacturing project that works on upgrading production lines<\/strong> to improve energy efficiency, reducing natural gas consumption by nearly 1 mn cbm annually and cutting over 5.5k tons of CO2 per year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bankability of green projects continues to be a challenge: <\/strong>Expanding and educating businesses on the financial and environmental benefits of green investments continues to be challenging, El Safty said. However, with sectors like water, agriculture, and energy efficiency benefiting greatly from green finance, there is vast potential for growth as more businesses realize the long-term benefit, cost savings, and competitive advantages of sustainability, he continued. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Moving forward: <\/strong>\u201cWe encourage businesses across Egypt to explore the financial and environmental benefits of NBExTFSC GreenGrowth loan. Whether it\u2019s renewable energy, sustainable agriculture, energy efficiency or other areas, our program is here to support you in making a long-lasting return on investment and positive environmental impact,\u201d El Safty concluded.<\/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>Green fertilizers opens the door for voluntary carbon market listing: <\/strong>Green fertilizer and biogas company Empower will supply low-carbon fertilizers to agribusiness firm Lotus under a ten-year agreement the two sides inked last week. The move will open the door for Lotus to issue carbon certificates on the voluntary carbon market. (<a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/2180.pdf\" style=\"\" rel=\"noopener\">EGX disclosure, pdf<\/a>)<\/li>\n<li><strong>Japanese firms to support green energy projects in Egypt:<\/strong> The Japan Bank for International Cooperation unveiled its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3e3b756e-6597-45ca-85a1-760270796f74\/premium-healthcare-wants-to-increase-its-capital\" style=\"\" rel=\"noopener\">plans to finance green energy projects locally<\/a> \u2014 whether through direct investment or in partnership with regional investment institutions. <\/li>\n<li><strong>Cemex inks agreement to operate Assuit WtE facility:<\/strong> Cemex through its Regenera arm will <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c7d688c6-74d5-4a10-96b6-6f2595dd7a0d\/cemex-inks-agreement-to-take-on-its-second-waste-to-energy-project.-plus:-ezdehar,-neopay,-cairo-metro\" style=\"\" rel=\"noopener\">process over 7k tons<\/a> of municipal solid waste monthly into alternative fuel and organic fertilizer \u2014 its second waste-to-energy (WtE) project in the country \u2014 under an agreement inked with Assiut Governorate. <\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-bank-of-egypt\/\">National Bank of Egypt<\/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=\"645910\" 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\/10\/01\/645910\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-645910\" class=\"content-area-description single-story post-645910 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;\">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>5-8 October (Saturday- Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/alex.technesummit.com\/2024\" style=\"\">Techne Summit Alexandria<\/a><\/span><span style=\"font-weight:400;\">, Biblioteca, Alexandria.<\/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): Official holiday in observance of Armed Forces Day.<\/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;\">7-11 October (Monday-Friday): Egyptian-Romanian Business Council Forum, Bucharest, Romania.<\/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>10-12 October (Thursday-Saturday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/evs-electrify.egyreg.com\/\" style=\"\">EVs Electricity Egypt Expo and 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>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 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>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 style=\"font-weight:400;\">21-25 October (Monday-Friday): The second iteration of the Global Forum for Population, Health, and Human Development.<\/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>11-15 November (Monday-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>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;\">May 2025: Egyptian Exporters Association (Expolink) exhibition, Italy.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">July 2025: The first operational trail of Egypt-KSA electricity interconnection line.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2Q 2025: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad18b775-3e22-4e6b-b4fc-9dd30f4b85ad\/abu-dhabi-ports-to-build-and-run%253cmark%253e-safaga-terminal%253c%2Fmark%253e,-cruise-ship-infrastructure\" style=\"\">Safaga Terminal 2<\/a><\/span><span> to start operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20 January-7 February: Egypt to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f9a5a94-cc1c-4fc1-b8c6-7c02d15cae3b\/ramadan-kareem\" style=\"\">host the African Games<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2027: Trial operations at the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52aa0e65-5b6f-4c84-aa49-70ac4152bb87\" style=\"\">Dabaa nuclear power plant<\/a><\/span><span style=\"font-weight:400;\"> expected to take place.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Laying the foundation at Ras El Hekma | Cash subsidies | Bank NXT | House back in session.<\/p>\n","protected":false},"featured_media":645888,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-645887","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"ae4a6ebb-649d-423f-ad51-6f18dc291a21","teaser":"Laying the foundation at Ras El Hekma | Cash subsidies | Bank NXT | House back in session.","photo_url":"https:\/\/ent.news\/2024\/10\/10.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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