{"id":646819,"date":"2024-10-02T00:00:00","date_gmt":"2024-10-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=646819"},"modified":"2025-12-17T20:36:29","modified_gmt":"2025-12-17T20:36:29","slug":"our-fourth-imf-loan-review-may-be-pushed-back-again","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/our-fourth-imf-loan-review-may-be-pushed-back-again\/","title":{"rendered":"Our fourth IMF loan review may be pushed back again"},"content":{"rendered":"<section id=\"646821\" 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=\"646821\">\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\/02\/will-our-fourth-loan-review-with-the-imf-be-pushed-back-again\/\">\r\n                            Will our fourth loan review with the IMF be pushed back again?                        <\/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\/02\/will-our-fourth-loan-review-with-the-imf-be-pushed-back-again\/\" target=\"_blank\">\n                    Open in new tab            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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\/.437d58f7-33d0-48d3-a83e-a780e63a8bea.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>The month is off to a busy start with fresh data from the central bank and a whole lot of investment promises. <\/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- Has our fourth loan review with the IMF been pushed back again?<\/strong> The Fund is likely to conduct the fourth review of our USD 8 bn loan program in November, a government source told Enterprise. The review that will unlock a USD 1.3 bn tranche \u2014 the biggest among the four tranches to date \u2014 was initially scheduled for September, before being delayed to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce01f29c-8a4e-43ba-ac77-91e06d5c9990\/\" style=\"\" rel=\"noopener\">October<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The why: <\/strong>The government wants to wait so investment incentives and investment agreements currently in the works can be finalized and then taken into account for the review. In addition to this, the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b783a33c-54f4-403e-bbb3-d45168e55bab\/imf-completes%253cmark%253e-third-review%253c%2Fmark%253e-of-our-loan-program,-enabling-the-disbursal-of-usd-820-mn\" style=\"\" rel=\"noopener\">delayed third review<\/a> has pushed back the timetable for subsequent reviews, our source told us.<\/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- More French investments incoming? <\/strong>French and European investors are getting excited about investing in Egypt, with European investment network ANIMA, the Marseille Chamber of Commerce, and French shipping and logistic company CMA CGM all expressing interest in cooperating on trade and investment during their <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/Lp1vww64xnnBqaTq\/\" style=\"\" rel=\"noopener\">meetings<\/a> with Investment Minister Hassan El Khatib who is in France for <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<\/a> to drum up investments.<\/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>It\u2019s day two of the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/csew.net\/\" style=\"\" rel=\"noopener\">Cairo Sustainable Energy Week<\/a><\/strong><strong>: <\/strong>Under the theme Building a World that Sustains, the three-day event at the Nile Ritz-Carlton in Cairo is gathering ministers and private sector players from across the Arab world to discuss renewable energy, grid interconnection projects, sustainable development, and everything in between. On the agenda today are sessions on green hydrogen, green finance, the role of private sector banks, and the role of startups in the green transition.<\/p><p class=\"tag-border-left\">MILESTONE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Fawry has so far disbursed some EGP 1 bn through its buy-now-pay-later service<\/strong>, which officially launched a little over a year ago, the local fintech giant said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/66.pdf\" style=\"\" rel=\"noopener\">pres<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/66.pdf\" style=\"\" rel=\"noopener\">s release (pdf)<\/a>. <\/p><p class=\"tag-border-left\"> DATA POINT- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a><strong> Gov\u2019t collects EGP 1.2 bn from tackling electricity theft:<\/strong> Egypt pulled in some EGP 1.2 bn over the last month and a half by cracking down on electricity theft, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02cKZShwXcfVYyJgSZY9sZ79eoCwrKDrtKL9YgvUGQ2r5te5iCrCXQdX3Y7CUza4AZl\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. The announcement follows recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c19f9124-56b3-4412-9964-250fd531fed7\/mountain-view-begins-saudi-expansion-with-first-land-acquisition-in-the-kingdom.-plus:-hbs-international,-mubasher-capital,-nautix,-orascom-construction-%2B-hitachi-%2B-colas-rail,-samnoud-textiles\" style=\"\" rel=\"noopener\">increased fines<\/a>, new measures to let companies <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f09eddd1-fdf2-412d-aad7-d4925b31639e\/egypt%E2%80%99s-cabinet-approves-decision-to-cut-down-on-electricity-theft\" style=\"\" rel=\"noopener\">crack down<\/a> on electricity theft, and a media blitz on the talk shows as part of government efforts to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9c204253-74bf-4487-ae7d-62ae0cb51bb5\/breaking-down-egypt%25e2%2580%2599s-new-cabinet%25e2%2580%2599s-green-goals\" style=\"\" rel=\"noopener\">reduce<\/a> energy consumption 18% by 2035 and stop the drain on the public purse.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Banks <\/strong><strong>and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/118.jpg\" style=\"\" rel=\"noopener\">EGX<\/a><\/strong><strong> are also set for a long weekend<\/strong>, <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\">joining<\/a> the private and public sectors in taking Sunday, October 6 off for Armed Forces Day, the central bank and the bourse said yesterday.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s another 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 even cooler in Alexandria<\/strong>, with a high of 27\u00b0C and a low of 23\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong>and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><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>CORRECTION- <\/strong>In our coverage of the EnterpriseAM Finance Forum in yesterday\u2019s issue, we mistakenly attributed Valu CEO Walid Hassouna\u2019s comments about leasing to MNT-Halan CEO Mounir Nakhla. The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/04d4fdf6-9ec6-4f3e-b970-857cc769bae2\/examining-egypt%25e2%2580%2599s-non-banking-financial-sector%25e2%2580%2599s-resilience-amid-recent-pressures\" style=\"\" rel=\"noopener\">story<\/a> has been amended on our website.<\/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\"><a id=\"wwtt5\"><\/a> <strong>Iran fired some 200 missiles at Israel last night in a massive escalation of regional <\/strong><strong>violence<\/strong>, with the Israeli army saying it has intercepted most missiles and reporting one dead in the West Bank. Israeli Prime Minister Benjamin Netanyahu said the attack was a \u201cbig mistake\u201d and vowed retaliation during the opening meeting of his security cabinet yesterday, with the US promising to support Israel in its retaliation, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-01\/israel-says-iran-has-launched-missiles-in-direct-attack?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Iranian Foreign Minister Sayed Abbas Araqchi said Iran\u2019s attacks were \u201cfinished,\u201d <\/strong>unless Israel retaliates, in which case their response will be \u201cstronger and more powerful\u201d <a target=\"_blank\" href=\"https:\/\/x.com\/araghchi\/status\/1841224537834230244?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet\" style=\"\" rel=\"noopener\">on X<\/a> a few hours ago.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax:<\/strong> Oil prices surged 5% following the attacks, with Brent settling at USD 73.56 per barrel, and several indices on Wall Street and in the region ending lower. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Iranian attack is getting plenty of play:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/iran-says-it-has-finished-attack-israel-amid-fears-spreading-conflict-2024-10-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-lebanon-hezbollah-gaza-news-10-01-2024-eb175dff6e46906caea8b9e43dfbd3da\" style=\"\" rel=\"noopener\">AP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnn.com\/2024\/10\/01\/world\/video\/iran-missile-attack-aftermath-video-israel-digvid\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/c70w1j0l488o\" style=\"\" rel=\"noopener\">BBC<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US elections are also back on front pages as the country gears up for the first and only vice presidential debate <\/strong>between Kamala Harris\u2019 VP Tim Walz and Donald Trump\u2019s pick, JD Vance, later today. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN OTHER US NEWS- East Coast and Gulf Coast dockworkers\u2019 kicked off their biggest strike in 50 years <\/strong>after negotiations for a new labor contract broke down, halting nearly half of the country\u2019s shipping and potentially costing bns of USD in damages. (<a target=\"_blank\" href=\"https:\/\/www.cnbcafrica.com\/2024\/east-and-gulf-coast-ports-strike-stranding-billions-in-trade-and-threatening-u-s-economy\/\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/us-east-coast-dockworkers-head-toward-strike-after-deal-deadline-passes-2024-10-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also causing plenty of damage: <\/strong>Hurricane Helene, which has killed at least 130 people across six states, with analysts estimating more than USD 30 bn in damages so far. (<a target=\"_blank\" href=\"https:\/\/www.semafor.com\/article\/09\/30\/2024\/hurricane-helene-leaves-110-dead-30-billion-in-damage-across-six-states\" style=\"\" rel=\"noopener\">Semafor<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND IN TECH NEWS- <\/strong><\/p><ul>\n<li><strong>OpenAI launched a slew of new tools<\/strong>, including one that will make it easier for developers to build AI voice applications, and another that will improve responses generated using images and text, as the company shifts its focus to agent systems, (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/artificial-intelligence\/openai-introduces-new-tools-developers-fast-track-building-ai-models-2024-10-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/30677465-33bb-4f74-a8e6-239980091f7a\" style=\"\" rel=\"noopener\">FT<\/a>) <\/li>\n<li><strong>Apple is preparing to unveil a new version of its budget iPhone, iPhone SE, alongside new iPad Air models<\/strong> and new keyboards. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-01\/apple-readies-iphone-se-4-upgraded-ipad-air-for-early-2025?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2503.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We look at how well prepared Egypt\u2019s energy infrastructure is to achieve the country\u2019s energy transition goals.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/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=\"646823 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=\"646823\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/646823\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646823\" class=\"content-area-description single-story post-646823 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>\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=\"646824\" 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=\"646824\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/egypts-current-account-deficit-quadruples-in-fy-2023-24\/\">\r\n                            Egypt\u2019s current account deficit quadruples to reach USD 20.8 bn in FY 2023-24                        <\/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\/02\/egypts-current-account-deficit-quadruples-in-fy-2023-24\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                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href=\"https:\/\/api.whatsapp.com\/send?text=Egypt%E2%80%99s+current+account+deficit+quadruples+in+FY+2023-24+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F02%2Fegypts-current-account-deficit-quadruples-in-fy-2023-24%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\/02\/egypts-current-account-deficit-quadruples-in-fy-2023-24\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/136.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"646825\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/egypts-current-account-deficit-quadruples-in-fy-2023-24\/136-jpg-26\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/136.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"136.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/136.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/136.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646824\" class=\"content-area-description single-story post-646824 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-balance-of-payments tag-central-bank-of-egypt tag-economy tag-enterpriseam tag-fdi 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\/.33c41117-762f-4bfb-a2f1-9925d3f33659.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt\u2019s current account deficit more than quadrupled in FY 2023-24<\/strong>, recording USD 20.8 bn up from USD 4.7 bn during the previous fiscal year, driven by a significant increase in trade deficit and a decline in Suez Canal revenues, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/101.pdf\" style=\"\" rel=\"noopener\">central ba<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/101.pdf\" style=\"\" rel=\"noopener\">nk fig<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/101.pdf\" style=\"\" rel=\"noopener\">ures (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>On the bright side: <\/strong>Despite the widening current account deficit, Egypt recorded an overall balance of payments surplus of USD 9.7 bn, which the bank said was driven by structural reforms that took place during the second half of the year, which resulted in a net inflow of some USD 29.9 bn.<\/p>\n<p class=\"tag-border-left\">DRIVING THE RISE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Suez Canal revenues dipped: <\/strong>Suez Canal transit receipts saw a 24.3% y-o-y decrease during the year to record USD 6.6 bn \u2014 the canal witnessed a 29.6% y-o-y decline in net tonnage and a 22.2% drop in the number of transiting ships. The decline was mostly concentrated in the second half of the fiscal year, which saw revenues dropping by 61.7% to USD 1.8 bn.\u201cSuch a decrease is due to the Red Sea maritime traffic disruptions which forced several commercial shipping companies to divert their shipping routes,\u201d the central bank said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Oil exports took a big hit: <\/strong>Oil exports saw a 58.6% y-o-y decrease to USD 5.7 bn, largely driven by a significant dip in our natural gas exports \u2014 which fell by USD 6.6 bn to just USD 605.3 mn throughout the year. This meant our oil trade balance stayed in a deficit \u2014 it ran a deficit of USD 7.6 bn compared to a surplus of USD 410 mn recorded during the fiscal year 2022-2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Non-oil trade deficit widened <\/strong>by USD 354.8 mn to USD 31.9 bn thanks to a 2.4% y-o-y increase in non-oil imports. Non-oil exports saw a 4% increase to record USD 26.8 bn. <\/p>\n<p class=\"tag-border-left\">SOFTENING THE BLOW- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- FDI inflows saw a surge: <\/strong>Foreign direct investment recorded a net inflow of USD 46.1 bn \u2014 its highest ever level \u2014 up from just USD 10 bn during the previous fiscal year. Inflows were primarily driven by <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0b97fcf-95b0-4d39-86ae-0a4989221520\" style=\"\" rel=\"noopener\">ADQ\u2019s USD 35 bn Ras El Hekma agreement<\/a>, which contributed the lion\u2019s share of Egypt\u2019s FDI for the year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Portfolio investments in the green: <\/strong>Egypt recorded a net inflow of USD 14.5 bn in portfolio investments, compared to a net outflow of USD 3.8 bn during the FY 2022-23, as March\u2019s float of the EGP and the jumbo interest rate reignited investor confidence in the local economy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Tourism revenues were up: <\/strong>Revenues from tourism increased 5.5% y-o-y, reaching USD 14.4 bn thanks to a 7.4% rise in the number of incoming tourists \u2014 which reached 14.9 mn \u2014 as well as a 5.5% increase in nights spent.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Remittances decreased \u2014 but have been recovering since the float:<\/strong> Remittances from Egyptians abroad fell by 0.6% to USD 21.9 bn during last fiscal year, but 4Q FY 2023-24 (following the float) saw a 61.4% y-o-y increase in remittances to USD 7.5 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The international press also picked up the story: <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/egypts-current-account-deficit-quadruples-central-bank-says-2024-10-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/balance-of-payments\/\">balance of payments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/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=\"646826\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF 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                  <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/auto-players-promise-significant-investments-in-egypt-as-localization-push-continues\/\">\r\n                            Auto players promise significant investments in Egypt as localization push continues                        <\/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\/02\/auto-players-promise-significant-investments-in-egypt-as-localization-push-continues\/\" target=\"_blank\">\n                    Open in new 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        <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/134.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"646828\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/auto-players-promise-significant-investments-in-egypt-as-localization-push-continues\/134-jpg-29\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/134.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"134.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/134.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/134.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646827\" class=\"content-area-description single-story post-646827 post type-post status-publish format-standard has-post-thumbnail hentry category-automotive tag-automotive tag-enterpriseam tag-manufacturing 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\/.3d0c1f4a-f209-4882-ada1-186b33a9e206.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The auto industry is set to see a raft of new investments<\/strong>, with Egyptian International Motors and Stellantis pledging major investments in the local auto sector \u2014 all as the government continues its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c1ed2652-13a2-4dbb-ad35-647e35adcae1\/a-look-into-efforts-to-localize-egypt%25e2%2580%2599s-auto-industry\" style=\"\" rel=\"noopener\">bid to localize the industry<\/a> and become an automotive export hub.<\/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>#1- Egyptian International Motors is investing big in the auto sector: <\/strong>Egyptian International Motors \u2014 the sole agent of Kia Motors and Renault in Egypt \u2014 plans to invest some USD 100 mn in its vehicle manufacturing business \u2014 assembling, marketing, and exporting vehicles \u2014 as part of a broader push to localize Egypt\u2019s auto industry and position the country as a vehicle export hub, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/2xvVYFajnCyA72NB\/\" style=\"\" rel=\"noopener\">statement<\/a>. The company aims to export some 105k cars worth some USD 1.3 bn over the next five years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Egyptian International Motors in 2022 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d85d54ff-5ca1-41bf-a2af-5e606e9c121a\" style=\"\" rel=\"noopener\">signed an MoU<\/a> with the Suez Canal Economic Zone, the Sovereign Fund of Egypt, and the East Port Said Development Company to explore building a factory with a production capacity of 75k cars per year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Stellantis to invest EUR 116 mn localizing the auto industry: <\/strong>Automotive player Stellantis plans to invest EUR 116 mn in the local manufacture of four vehicle models expected to hit the streets over the course of three years, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/5rBndEjRWVrBFJSm\/\" style=\"\" rel=\"noopener\">statement<\/a>. The company is also planning on working with a local company to produce three-wheeled electric vehicles.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>Stellantis last month <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b4203b1-e12f-4ee4-a4f5-13c7cdf058ca\/stellantis-to-restart-assembling-new-jeep-model-locally\" style=\"\" rel=\"noopener\">said<\/a> that it would restart assembling the Jeep Grand Cherokee L locally at the factory of the Arab Organization for Industrialization\u2019s Arab American Vehicles Company, with the company also reportedly considering assembling Citroen\u2019s C4X model in Egypt for possible export.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Both companies are pledging to increase their local component ratio: <\/strong>Egyptian International Motors is planning to increase its local component ratio to 58% in the first year of its new facility\u2019s operation, up from 48% currently. Stellantis, meanwhile, aims to increase its local component ratio to 45% next year and to 52% by 2028.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/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=\"646829\" 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=\"646829\">\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\">A MESSAGE FROM VODAFONE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/vodafone-egypt-foundation-partners-with-al-manfaz-for-the-next-phase-of-its-madraset-al-saada-back-to-school-initiative\/\">\r\n                            Vodafone Egypt Foundation partners with Al Manfaz for the next phase of its Madraset Al Saada back-to-school initiative                        <\/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\" 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/124.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"646830\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/vodafone-egypt-foundation-partners-with-al-manfaz-for-the-next-phase-of-its-madraset-al-saada-back-to-school-initiative\/124-jpg-23\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/124.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"124.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/124.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/124.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646829\" class=\"content-area-description single-story post-646829 post type-post status-publish format-standard has-post-thumbnail hentry category-a-message-from-vodafone tag-a-message-from-vodafone tag-enterpriseam tag-vodafone-egypt 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\/.33033abe-1263-44b2-b5c2-b5d442bfad94.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In<\/strong><strong> 2023, the <\/strong><strong>Vodafone E<\/strong><strong>gypt Found<\/strong><strong>ation introduced the inaugural <\/strong><strong>Madraset Al Saada<\/strong> <strong>back-to-school project<\/strong>, which laid the building blocks for students from underserved communities to excel by providing them with the educational tools and support they needed. The first edition witnessed Vodafone employees volunteering to provide around 10k students with brand new backpacks filled with essential school supplies, as well as the transformation of a public school into a model of digital learning with the installation of a fully equipped and connected computer lab. This wasn\u2019t a mere initiative; it is part of a major commitment by Vodafone Egypt Foundation. A commitment to empowering youth by ensuring every single student, regardless of their economic background, deserves an equal chance to quality education and opportunities for growth. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Building on last year\u2019s endeavor<\/strong>, the second chapter of the Al Manfaz back-to-school initiative was brought to you by Vodafone Egypt Foundation from 16-24 September to further scale its impact in supporting Egyptian students\u2019 education. Vodafone employees once again stepped up to support the preparation of another 2k boxes with Al Manfaz and in collaboration with other partners, which include school backpacks as well as school supplies to be distributed to students across 13 governorates in Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The initiative pushed the boundaries further this year<\/strong>, seeing the sponsorship of some 5k students from Cairo and Sohag to cover their school expenses in addition to providing them with school clothing and supplies, to equip them for the 2024-2025 academic year. The sponsorship is more than financial assistance, it is a beacon of hope, advancing these students towards the equal right of education, free from any financial burdens during these difficult economic times. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Vodafone Foundation is leveraging its technology and digital resources to ensure equal <\/strong><strong>accessibility for Egyptian school students while bridging the educational gap<\/strong>, fueling a fair and inclusive environment where everyone is given an opportunity to strive for excellence. This year\u2019s back-to-school initiative is a call to action, inviting all capable entities and individuals to join in helping bridge the educational gap, laying the foundation for a future where all Egyptian students have a better opportunity to excel and play an active role in the country\u2019s growth.<\/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\/a-message-from-vodafone\/\">A MESSAGE FROM VODAFONE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vodafone-egypt\/\">Vodafone Egypt<\/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=\"646831\" 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=\"646831\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/scatec-john-cockerill-rely-and-slb-to-team-up-on-local-electrolyzer-manufacturing\/\">\r\n                            Scatec, John Cockerill, Rely, and SLB to team up on local electrolyzer manufacturing                        <\/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\/02\/scatec-john-cockerill-rely-and-slb-to-team-up-on-local-electrolyzer-manufacturing\/\" 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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manufacturing&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/scatec-john-cockerill-rely-and-slb-to-team-up-on-local-electrolyzer-manufacturing\/\">\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\/02\/scatec-john-cockerill-rely-and-slb-to-team-up-on-local-electrolyzer-manufacturing\/&title=Scatec, John Cockerill, Rely, and SLB to team up on local electrolyzer manufacturing\">\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=Scatec%2C+John+Cockerill%2C+Rely%2C+and+SLB+to+team+up+on+local+electrolyzer+manufacturing+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F02%2Fscatec-john-cockerill-rely-and-slb-to-team-up-on-local-electrolyzer-manufacturing%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\/02\/scatec-john-cockerill-rely-and-slb-to-team-up-on-local-electrolyzer-manufacturing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/132.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"646832\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/scatec-john-cockerill-rely-and-slb-to-team-up-on-local-electrolyzer-manufacturing\/132-jpg-29\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/132.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"132.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/132.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/132.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646831\" class=\"content-area-description single-story post-646831 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-energy tag-enterpriseam tag-green-ammonia tag-green-hydrogen tag-manufacturing tag-renewables wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.2fa64077-b6af-46d0-a6f6-9175942f3256.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt could soo<\/strong><strong>n manufacture its own electrolyzers to power its green hydrogen <\/strong><strong>ambitions: <\/strong>Norwegian renewables giant Scatec, Belgium\u2019s John Cockerill, John Cockerill-Technip JV Rely, and France\u2019s SLB have plans to set up a factory to manufacture electrolyzers for green hydrogen production in Ain Sokhna, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/mti.egypt\/posts\/pfbid02ej2FRDc1sZj342B4g55n9QjW5wNyabHa4rvsDDYKgBzVJdLFyd7xJmkWU39f7Hg4l\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>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>Electrolyzers are a key bit of hardware used to make green hydrogen: <\/strong>An electrolyzer is a device that uses electricity to split water into hydrogen and oxygen through a process called electrolysis. The hydrogen you get from the process can be used as an energy source \u2014 and is a completely green product assuming the electricity used in electrolysis came from renewables.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It looks like all the companies involved could also be working together on a green <\/strong><strong>ammonia project in Damietta: <\/strong>Scatec and John Cockerill <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/83a8a376-50ec-4261-871d-09eab5b57b6c\/more-international-players-are-interested-in-damietta%25e2%2580%2599s-green-ammonia-project.-plus:-news-from-taqa-arabia,-efg-holding,-premium-healthcare\" style=\"\" rel=\"noopener\">have been confirmed<\/a> to be working with other international and local players on USD 900 mn <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\">project to annually produce<\/a> 150k tons of green ammonia in Misr Fertilizer Production Company\u2019s factories. We also heard on Monday that Oil Minister Karim Badawi had met with SLB and Rely JV partner Technip to discuss them possibly joining the project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not the first time we\u2019ve heard about Egyptian-made electrolyzers: <\/strong>Last year, Hydrogen Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b77df6b8-b99f-4d03-b30a-0e93b9d09abb\/hydrogen-egypt-wants-to-work-with-china%25e2%2580%2599s-peric-to-locally-produce-electrolysers\" style=\"\" rel=\"noopener\">announced<\/a> that it would be partnering up with China\u2019s Peric Hydrogen Technologies to explore the local manufacturing and assembly of electrolyzers critical for green hydrogen production. The technical cooperation \u2014 which was in the \u201cfeasibility stage\u201d as of August 2023 \u2014 would see parts of the electrolyzer components sourced locally, with Peric providing the core component for electrolyzers initially.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: <\/strong>Egypt has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15d6f791-948f-4bbb-9bd3-3ddb57475e44\/a-whole-lot-of-green-ambitions-for-el-sisi%25e2%2580%2599s-new-term\" style=\"\" rel=\"noopener\">big green hydrogen ambitions<\/a> as the government works to transform it into a regional hub for green hydrogen production by 2026 and a global hub by 2030, with plans to produce 3.2 mn tons of green hydrogen a year by 2030 and 9.2 mn tons a year by 2040.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-ammonia\/\">green ammonia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"646833\" 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=\"646833\">\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\">Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/sczone-egyptian-holding-company-for-silos-and-storage-to-build-usd-153-mn-grain-complex\/\">\r\n                            SCZone, Egyptian Holding Company for Silos and Storage to build USD 153 mn grain complex                        <\/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\/02\/sczone-egyptian-holding-company-for-silos-and-storage-to-build-usd-153-mn-grain-complex\/\" 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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complex&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/sczone-egyptian-holding-company-for-silos-and-storage-to-build-usd-153-mn-grain-complex\/\">\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\/02\/sczone-egyptian-holding-company-for-silos-and-storage-to-build-usd-153-mn-grain-complex\/&title=SCZone, Egyptian Holding Company for Silos and Storage to build USD 153 mn grain complex\">\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=SCZone%2C+Egyptian+Holding+Company+for+Silos+and+Storage+to+build+USD+153+mn+grain+complex+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F02%2Fsczone-egyptian-holding-company-for-silos-and-storage-to-build-usd-153-mn-grain-complex%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\/02\/sczone-egyptian-holding-company-for-silos-and-storage-to-build-usd-153-mn-grain-complex\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/131.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"646834\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/sczone-egyptian-holding-company-for-silos-and-storage-to-build-usd-153-mn-grain-complex\/131-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/131.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"131.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/131.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/131.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646833\" class=\"content-area-description single-story post-646833 post type-post status-publish format-standard has-post-thumbnail hentry category-commodities tag-commodities tag-enterpriseam tag-suez-canal-economic-zone tag-wheat 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\/.ec6f15ce-f295-474d-91fb-640be89a9b38.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The country\u2019s grain storage capacity set for a boost with new storage complex:<\/strong> The Suez Canal Economic Zone (SCZone) and the Egyptian Holding Company for Silos and Storage are developing a grain complex for the handling, processing, and storage of grains, with initial investments of USD 153 mn earmarked for the first and second phases, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a7%d9%82%d8%aa%d8%b5%d8%a7%d8%af%d9%8a%d8%a9-%d9%82%d9%86%d8%a7%d8%a9-%d8%a7%d9%84%d8%b3%d9%88%d9%8a%d8%b3-%d9%88%d8%a7%d9%84%d9%82%d8%a7%d8%a8%d8%b6%d8%a9-%d9%84%d9%84%d8%b5\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports citing sources it says are familiar with the matter. Construction is slated for completion within two to two and a half years once a local or strategic foreign investor is secured.<\/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 breakdown: <\/strong>The first phase will cost USD 75 mn, while the second will come at a price tag of USD 78 mn, according to the Egyptian Holding Company\u2019s preliminary plan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The facility will store up to 6 mn tons of grain annually: <\/strong>The SCZone allocated 1 mn square meters for the new grain complex, with 385k sqm in a port area, which will house 20 silos capable of storing 4 to 6 mn tons of grain annually. A 650k sqm logistics zone will also process 648k tons of wheat flour and 252k tons of bran annually. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T<\/strong><strong>apping into our export potential:<\/strong> The new complex will primarily target East Africa and the Gulf \u2014 55 mn tons of grain pass through the Suez Canal annually.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/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=\"646835\" 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=\"646835\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/efg-hermes-reclaims-the-top-spot-in-the-egx-brokerage-league-table-in-september\/\">\r\n                            EFG Hermes reclaims the top spot in the EGX brokerage league table in September                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img 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\/02\/efg-hermes-reclaims-the-top-spot-in-the-egx-brokerage-league-table-in-september\/\" 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\/02\/efg-hermes-reclaims-the-top-spot-in-the-egx-brokerage-league-table-in-september\/')\">\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\/02\/efg-hermes-reclaims-the-top-spot-in-the-egx-brokerage-league-table-in-september\/\">\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=EFG Hermes reclaims the top spot in the EGX brokerage league table in September&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/efg-hermes-reclaims-the-top-spot-in-the-egx-brokerage-league-table-in-september\/\">\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\/02\/efg-hermes-reclaims-the-top-spot-in-the-egx-brokerage-league-table-in-september\/&title=EFG Hermes reclaims the top spot in the EGX brokerage league table in September\">\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=EFG+Hermes+reclaims+the+top+spot+in+the+EGX+brokerage+league+table+in+September+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F02%2Fefg-hermes-reclaims-the-top-spot-in-the-egx-brokerage-league-table-in-september%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\/02\/efg-hermes-reclaims-the-top-spot-in-the-egx-brokerage-league-table-in-september\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/129.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"646836\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/efg-hermes-reclaims-the-top-spot-in-the-egx-brokerage-league-table-in-september\/129-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/129.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"129.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/129.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/129.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646835\" class=\"content-area-description single-story post-646835 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-brokerage-league tag-capital-markets tag-ci-capital tag-efg-hermes tag-enterpriseam tag-pioneers-securities tag-thndr wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.a10e9486-1cea-482d-bc7d-f38810f502b3.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EFG Hermes reclaims top spot:<\/strong> EFG Hermes Securities Brokerage topped the EGX brokerage league table in September with a market share of 16.7%, according <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/104.pdf\" style=\"\" rel=\"noopener\">figures released by the<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/104.pdf\" style=\"\" rel=\"noopener\">EGX (pd<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/104.pdf\" style=\"\" rel=\"noopener\">f)<\/a>. Firms ranking amongst the top five include Pioneers Securities (10.2%), CI Capital (9.2%), Thndr Securities (6.8%), and Mubasher Securities (4.9%). <\/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>Remember:<\/strong> Pioneers Securities <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe03232c-1f77-43d8-8db3-e6c86a04da39\/pioneers-securities-dethrones-efg-hermes-to-top-the-egx-brokerage-league-table-in-august\" style=\"\" rel=\"noopener\">topped the table<\/a> in August, dethroning EFG Hermes which had led the table for 14 months in a row. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/brokerage-league\/\">brokerage league<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pioneers-securities\/\">Pioneers Securities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/thndr\/\">Thndr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"646837\" 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=\"646837\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/apache-egypt-appoints-greg-mcdaniel-as-country-manager-new-mercedes-benz-egypt-ceo\/\">\r\n                            Apache Egypt appoints Greg McDaniel as country manager +  New Mercedes-Benz Egypt CEO                        <\/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\/02\/apache-egypt-appoints-greg-mcdaniel-as-country-manager-new-mercedes-benz-egypt-ceo\/\" 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\/02\/apache-egypt-appoints-greg-mcdaniel-as-country-manager-new-mercedes-benz-egypt-ceo\/')\">\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\/02\/apache-egypt-appoints-greg-mcdaniel-as-country-manager-new-mercedes-benz-egypt-ceo\/\">\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=Apache Egypt appoints Greg McDaniel as country manager + New Mercedes-Benz Egypt CEO&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/apache-egypt-appoints-greg-mcdaniel-as-country-manager-new-mercedes-benz-egypt-ceo\/\">\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\/02\/apache-egypt-appoints-greg-mcdaniel-as-country-manager-new-mercedes-benz-egypt-ceo\/&title=Apache Egypt appoints Greg McDaniel as country manager + New Mercedes-Benz Egypt CEO\">\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=Apache+Egypt+appoints+Greg+McDaniel+as+country+manager+%2B+New+Mercedes-Benz+Egypt+CEO+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F02%2Fapache-egypt-appoints-greg-mcdaniel-as-country-manager-new-mercedes-benz-egypt-ceo%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\/02\/apache-egypt-appoints-greg-mcdaniel-as-country-manager-new-mercedes-benz-egypt-ceo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/128.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"646838\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/apache-egypt-appoints-greg-mcdaniel-as-country-manager-new-mercedes-benz-egypt-ceo\/128-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/128.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"128.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/128.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/128.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646837\" class=\"content-area-description single-story post-646837 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-apache tag-energy tag-enterpriseam tag-mercedes-benz tag-moves tag-oil-and-gas wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.375ee582-974d-47b2-bae2-cf646f7b58a4.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- Apache Egypt officially has a new country manager: <\/strong>Apache Corporation appointed Greg McDaniel (<a target=\"_blank\" href=\"https:\/\/eg.linkedin.com\/in\/greg-mcdaniel-565a27ab\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as vice president and country manager for its Egypt assets, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/72.pdf\" style=\"\" rel=\"noopener\">press<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/72.pdf\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/72.pdf\" style=\"\" rel=\"noopener\">release (pdf)<\/a>. McDaniel, who has been with the company since 2001, held various operational and management roles across the Permian Basin, Canada, and Egypt. McDaniel has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/03c1b520-7e5b-4adf-aa4b-d78e23e79eb0\/%253cmark%253eapache-%253c%2Fmark%253eegypt-appoints-greg-mcdaniel-as-country-manager.-plus:-gem-has-a-ceo\" style=\"\" rel=\"noopener\">covered the interim role<\/a> since May, taking over from David Chi, who held the position for nearly two years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cEgypt\u2019s energy sector has a promising future under the direction of Minister Karim Badawi, and we look forward to continuing to build our strong partnership with the Ministry of Petroleum and Mineral Resources. We will continue to work closely with Minister Badawi and his team as we further strengthen our commitments in the region.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Mercedes-Benz Egypt has named Stefanie Volz (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/stefanie-volz-468b6383\/?originalSubdomain=de\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>) its new CEO <\/strong>\u2014 the first woman to hold the title in Mercedes-Benz\u2019s history, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/117.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. Volz has been with the Mercedes-Benz Group since 2012, having held \u201ccritical roles in customer service, product management, and business development across Germany, the UK, and Japan.\u201d<\/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\/apache\/\">Apache<\/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\/mercedes-benz\/\">Mercedes Benz<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"646839 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=\"646839\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/646839\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646839\" class=\"content-area-description single-story post-646839 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\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=\"646840\" 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=\"646840\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/fears-of-a-regional-war-set-in-as-observers-braces-for-an-israeli-response-to-irans-missile-attack\/\">\r\n                            Fears of a regional war set in as observers braces for an Israeli response to Iran\u2019s missile attack                        <\/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 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/122.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"122.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/122.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/122.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646840\" class=\"content-area-description single-story post-646840 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-gaza tag-iran tag-israel tag-last-nights-talk-shows 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\/.c23794e7-303f-4a89-a877-421f0229e172.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It was another night all about regional escalations: <\/strong>Iran\u2019s attack on Israeli targets yesterday dominated last night\u2019s talk shows \u2014 Iran launched some 250 missiles at Israel in response to Tel Aviv\u2019s assassination of Hezbollah secretary-general Hassan Nasrallah and Hamas\u2019 political leader Ismail Haniyeh.<\/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>About the attacks:<\/strong> Ain Shams Hebrew language and literature professor Mohamed Aboud told Aa Masouleety\u2019s Ahmed Moussa (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/AhmedMoussaEG\/videos\/879372510820318\/?__cft__[0]=AZVJ7GJsCDjItVO94ZMU97iFz-XPN63bmJPHblZVNU5VK3YlydcTwqH2YfAnnD4u09bL9xjgFi3GycOWJCaExhAgYoahVfBOoN85r85dGTnWSDosxm_wKxPKhDbeNY5ihlQBgVKofJ7P4XGSX0O_bTlDx6YPtbIQZ7QESN6jlkXste0AvatigprTD_6oIX7IrTVyaJKEKMg38MtgexM5fqEw&__tn__=%2CO%2CP-R\" style=\"\" rel=\"noopener\">watch, runtime: 5:39<\/a>) that the strikes had targeted strategic areas, including the Israeli air base of Nevatim \u2014 one of Israel\u2019s most important military air bases and the home of the president\u2019s plane \u2014 and the Dimona nuclear reactor, which he added was not directly hit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This may blow back on Netanyahu:<\/strong> According to Aboud, the Iranian attack marks a dangerous turning point in the conflict following Israel\u2019s tactical success in Lebanon in recent days. However, the fear that the strikes have aroused among the Israeli public \u2014 many of whom are now sheltering in place amid concerns of further Iranian strikes \u2014 has led some in the opposition to hold Israel Prime Minister Benjamin Netanyahu responsible for this situation (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/AhmedMoussaEG\/videos\/553242847173507\/?__cft__[0]=AZW2K_W6TeQYM20GUAzZWp90gsSmMl_Oj3xGlUWQ4TXZ1qM53gyYFxkrycAcfPsbPz_zSiXt9rRE6FxMha76KOMtaLLu-5FpXNxyluNBrdMC3twbxrCk_i5qwl2VoM9e8kNwmqANC57bWhzd1Jpr-5V3-sYKMBtsGCj5QxxDNfnhSIVFATVN4jrt68orCqb_WeebQ538EwCnlGQlTDdBmhNE&__tn__=%2CO%2CP-R\" style=\"\" rel=\"noopener\">watch, runtime: 4:29<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"646842\" 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=\"646842\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/dragon-oil-is-looking-to-invest-more-in-egypt-news-from-un-el-gouna-aaib\/\">\r\n                            Dragon Oil is looking to invest more in Egypt                        <\/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\/02\/dragon-oil-is-looking-to-invest-more-in-egypt-news-from-un-el-gouna-aaib\/\" 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\/02\/dragon-oil-is-looking-to-invest-more-in-egypt-news-from-un-el-gouna-aaib\/')\">\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\/02\/dragon-oil-is-looking-to-invest-more-in-egypt-news-from-un-el-gouna-aaib\/\">\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=Dragon Oil is looking to invest more in Egypt. News from UN, El Gouna, AAIB&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/dragon-oil-is-looking-to-invest-more-in-egypt-news-from-un-el-gouna-aaib\/\">\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\/02\/dragon-oil-is-looking-to-invest-more-in-egypt-news-from-un-el-gouna-aaib\/&title=Dragon Oil is looking to invest more in Egypt. News from UN, El Gouna, AAIB\">\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=Dragon+Oil+is+looking+to+invest+more+in+Egypt.+News+from+UN%2C+El+Gouna%2C+AAIB+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F02%2Fdragon-oil-is-looking-to-invest-more-in-egypt-news-from-un-el-gouna-aaib%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\/02\/dragon-oil-is-looking-to-invest-more-in-egypt-news-from-un-el-gouna-aaib\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/127.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"646843\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/02\/dragon-oil-is-looking-to-invest-more-in-egypt-news-from-un-el-gouna-aaib\/127-jpg-26\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/127.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"127.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/127.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/127.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646842\" class=\"content-area-description single-story post-646842 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-arab-african-international-bank tag-debt tag-development-finance tag-dragon-oil tag-el-gouna tag-energy tag-enterpriseam tag-hospitality tag-privatization-watch tag-real-estate tag-tax tag-un 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\/.797fbe02-bd8d-48ac-941b-d49caac9f6f9.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>Dragon Oil eyes more investments in Egypt:<\/strong> Emirates National Oil Company subsidiary Dragon Oil wants to up its production from the Al Wasl field, CEO Ali Al Jarwan told <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/CNBCArabia\/posts\/pfbid0QBNiiqBBeRwk2XTR7YnTsVbXL2eCy21Ka2WUScezYP5PySQsNKbpbbFozSNtJHRUl?rdid=u4S5R9hHB5H10942\" style=\"\" rel=\"noopener\">CNBC Arabia<\/a>. The company, which the government owes USD 200 mn in receivables, also plans to to acquire more concessions in Egypt and Iraq. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PRIVATIZATION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Ahly Pharos to work on CID, Misr Pharma offerings:<\/strong> State-owned pharma manufacturer HoldiPharma tapped Al Ahly Pharos to advise on the planned offerings of subsidiaries Chemical Industries Development (CID) and Misr Pharma, unnamed sources with knowledge of the matter told <a target=\"_blank\" href=\"https:\/\/hapijournal.com\/2024\/10\/01\/%d8%b9%d8%a7%d8%ac%d9%84-%d8%a7%d9%84%d9%82%d8%a7%d8%a8%d8%b6%d8%a9-%d9%84%d9%84%d8%a3%d8%af%d9%88%d9%8a%d8%a9-%d8%aa%d8%b9%d9%8a%d9%86-%d8%a7%d9%84%d8%a3%d9%87%d9%84%d9%8a-%d9%81%d8%a7%d8%b1%d9%88\/\" style=\"\" rel=\"noopener\">Hapi Journal<\/a>. The exact size of the stakes hasn\u2019t been determined, but majority stakes could be on the table if strategic investors make attractive offers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/249246a7-9ec1-4faa-93f0-326e61ed01eb\/load-shedding-resumption-plans-shelved%3F\" style=\"\" rel=\"noopener\">Unconfirmed reports out earlier this month<\/a> said HoldiPharma is looking to offer stakes in both companies on the EGX during the first half of 2025. The subsidiaries are on the government\u2019s list of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8a0da43-f922-4a49-b3a9-839f397f8ce4\" style=\"\" rel=\"noopener\">35 state-owned companies<\/a> earmarked for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a94808c5-7a0c-4027-a786-804f2dc35954\" style=\"\" rel=\"noopener\">privatization<\/a> via stake sales to strategic investors, the EGX, or a mix of both. <\/p>\n<p class=\"tag-border-left\">TAX-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt signs tax cooperation agreement with BRICS:<\/strong> The Egyptian Tax Authority signed a framework agreement for cooperation in tax matters with BRICS countries, the authority said in a <a target=\"_blank\" href=\"https:\/\/www.eta.gov.eg\/ar\/news\/alatfaqyt-alataryt-ldwl-albryks-lltawn-fy-almjalat-aldrybyt?fbclid=IwY2xjawFo4UlleHRuA2FlbQIxMAABHdFVbfKQk8aEWEKoiSXu2hG2qQZd0FsDb3VF4ndFa6aaLIZ9ksKT4Afk6A_aem_yhibVdZ66czmsFaSPsUmzg\" style=\"\" rel=\"noopener\">statement<\/a>. The agreement aims to enhance collaboration among member states in updating tax laws, risk assessment, and developing strong databases for tax administration.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DEVELOPMENT FINANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt, UN launch EUR 12.2 mn refugee support program:<\/strong> Egypt and a coalition of UN agencies launched a support program, backed by a EUR 12.2 mn grant from the EU, to improve health and education services for migrants and refugees in Egypt, according to a <a target=\"_blank\" href=\"https:\/\/www.unhcr.org\/eg\/48129-launch-of-the-joint-un-programme-under-the-joint-platform-for-migrants-and-refugees-in-egypt.html\" style=\"\" rel=\"noopener\">statement<\/a>. The program will be implemented by the UN Refugee Agency (UNHCR), the International Organization for Migration (IOM), Unicef, and the World Health Organization.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">HOSPITALITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Preatoni to expand resort in Sharm El Sheikh:<\/strong> Italian real estate conglomerate Preatoni Properties is looking to invest some EGP 7 bn to expand its existing <a target=\"_blank\" href=\"https:\/\/www.domina.it\/en\/\" style=\"\" rel=\"noopener\">Domina Coral Bay<\/a> resort in Sharm El Sheikh by developing a 750k sqm area behind the resort, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/10\/01\/-%D8%A8%D8%B1%D9%8A%D8%A7%D8%AA%D9%88%D9%86%D9%8A-%D8%A7%D9%84%D8%A7%D9%8A%D8%B7%D8%A7%D9%84%D9%8A%D8%A9-%D8%AA%D8%AF%D8%B1%D8%B3-%D8%B6%D8%AE-7-%D9%85%D9%84%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AC%D9%86%D9%8A%D9%87-%D9%84%D8%AA%D9%88%D8%B3%D8%B9%D8%A9-%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D9%87%D8%A7-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%AD%D9%8A-%D9%81%D9%8A-%D8%B4%D8%B1%D9%85-%D8%A7%D9%84%D8%B4%D9%8A%D8%AE\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reports, citing sources it says are close to the matter. The firm is currently holding talks with Egyptian investors and banks to contribute to financing the expansion.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">M&A-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HR solutions company<\/strong> <a target=\"_blank\" href=\"https:\/\/www.talent-360.me\/\" style=\"\" rel=\"noopener\">Talent 360<\/a> <strong> acquired people development and training firm<\/strong> <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/wish-ithr\/\" style=\"\" rel=\"noopener\">Wish-It<\/a> for an undisclosed amount, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/88.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The acquisition is part of Talent 360\u2019s efforts to grow into a fully comprehensive HR solutions firm \u201cwith a focus on team development, soft skills enhancement, and internal communication.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Gouna unveils its newest district: <\/strong>Orascom Development\u2019s El Gouna has launched <a target=\"_blank\" href=\"https:\/\/www.elgouna.com\/live-in\/neighborhoods\/tuban-el-gouna\" style=\"\" rel=\"noopener\">Tuban<\/a>, \u201cits largest multi-purpose district to date,\u201d according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/89.pdf\" style=\"\" rel=\"noopener\">press<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/89.pdf\" style=\"\" rel=\"noopener\">relea<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/89.pdf\" style=\"\" rel=\"noopener\">se (pdf)<\/a>. Tuban is a district within the heart of the city that spans over one mn sqm. It will house marinas, a hotel, a commercial area, green spaces and parks, a waterfront promenade, and El Gouna\u2019s first complex for senior living. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The project <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8d9129b8-c148-465f-9543-6a5b20ca9f12\/ahram-security-wants-to-become-the-latest-egyptian-firm-to-set-up-shop-in-saudi-arabia.-plus:-suez-canal-bank-%2B-el-sherif-markets,-beltone-%2B-raya,-olam,-el-gouna\" style=\"\" rel=\"noopener\">targets EGP 45 bn<\/a> in sales over a five-year period, with 40% of these revenues projected to come from outside the country. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DEBT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AAIB<\/strong><strong> is on course to issue USD 500 mn worth of sustainability bonds: <\/strong>The Arab African International Bank (AAIB) plans to issue a USD 500 mn five-year sustainability bond program, according to a <a target=\"_blank\" href=\"https:\/\/disclosures.ifc.org\/project-detail\/SII\/48908\/dcm-arab-african-international-bank\" style=\"\" rel=\"noopener\">summary<\/a> from the International Finance Corporation, which has committed to invest USD 300 mn in the program. The bonds will support the expansion of \u201cgreen and sustainable related projects.\u201d<\/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\/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\/arab-african-international-bank\/\">Arab African International Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dragon-oil\/\">Dragon Oil<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-gouna\/\">El Gouna<\/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\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/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=\"646844\" 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=\"646844\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/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\/02\/gcc-sovereign-wealth-funds-accounted-for-40-of-global-sovereign-investments-in-9m-2024\/\">\r\n                            GCC sovereign wealth funds accounted for 40% of global sovereign investments in 9M 2024                        <\/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\" 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data-image-meta=\"[]\" data-image-title=\"28.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/28.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/28.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646844\" class=\"content-area-description single-story post-646844 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\/.4a7531d7-8481-4d89-82a9-fd7114020391.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Sovereign wealth funds (SWFs) in the GCC invested USD 55 bn across 126 transactions in 9M <\/strong><strong>2024<\/strong>, accounting for around 40% of all investments from state-backed investors, consultancy firm Global SWF said in its <a target=\"_blank\" href=\"https:\/\/globalswf.com\/reports\/2024gcc\" style=\"\" rel=\"noopener\">2024 GCC playbook report<\/a>. The lion\u2019s share of investments from the GCC\u2019s sovereign wealth funds \u2014 some USD 52 bn \u2014 were deployed during the first half of the year, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-01\/mideast-domination-of-sovereign-backed-deals-at-15-year-high\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported previously. In 1H 2024, GCC SWFs accounted for 56% of all the capital deployed by global SWFs. <\/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 and outside sources.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Leading the pack:<\/strong> The Public Investment Fund (PIF), the Abu Dhabi Investment Authority (ADIA), ADQ, Mubadala, and the Qatar Investment Authority, which are collectively known as the Oil Five. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AUM is heading towards the USD 5 tn mark:<\/strong> Sovereign wealth funds and other sovereign investors in the gulf \u2014 including Saudi\u2019s General Organization for Social Ins. and Aramco PF, as well as the Investment Corporation of Dubai \u2014 have some USD 4.9 tn in collective assets under management (AUM), the report says. That figure is expected to grow to USD 5 tn early next year and hit USD 7.3 tn by 2030. Although the forecast for the end of the decade is \u201ca shade lower than the USD 7.6 tn the consultancy forecast in its December report, it still represents a 49% increase from 2024,\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-01\/uae-saudi-gcc-sovereign-investors-deals-spree-makes-hiring-easier\" style=\"\" rel=\"noopener\">Bloomberg<\/a> notes.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong> Sovereign wealth funds in the UAE have the largest share of AUM within the GCC, with the report forecasting USD 2.2 tn of AUM by the end of 2024, according to <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/wealth\/funds\/gcc-sovereign-wealth-funds-deployed-55bln-in-first-nine-months-of-2024-owa0qq1o\" style=\"\" rel=\"noopener\">Zawya<\/a>. In Saudi, some USD 1.1 tn are held by the country\u2019s sovereign investors, the report shows. The PIF\u2019s AUM reached USD 900 bn (SAR 3.47 tn) by the end of August, a 21% increase from SAR 2.87 tn at the end of 2023, making the fund the world\u2019s sixth-largest sovereign wealth fund, according to the Finance Ministry\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/67.pdf\" style=\"\" rel=\"noopener\">FY2025 Pre-Budget Statement (pdf)<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s the money going?<\/strong> China appears to be emerging as the darling destination for GCC SWF capital, drawing in USD 9.5 bn in investments from the region, the report says. The increased focus on China comes as Western investors have been withdrawing from Chinese investments amid increased pressure and regulatory restrictions. In 2023, sovereign wealth funds from the Middle East had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/bf9fadce-9733-4ab5-bcb9-96116585e4bb\/mideast-sovereign-wealth-fund-flows-to-china-up-2.2k%2525-y-o-y-in-2023\" style=\"\" rel=\"noopener\">invested USD 2.3 bn in Chinese companies<\/a>, marking a 2.2k% y-o-y increase from the year prior. the Hong Kong Monetary Authority previously said. Meanwhile, traditional investment destinations the US and UK still attracted a \u201csignificant\u201d portion of investments from GCC SWFs.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The tides are changing: <\/strong>\u201cSovereign investors such as ADIA have traditionally invested over 50% of their portfolio in the US just because there were more opportunities on the rise. However, they have been trying for years to diversify into the East,\u201d Zawya quotes Global SWF founder and Managing Director Diego Lopez as saying. \u201cWe have seen increased activity in both China and India.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The EU and US hiked tariffs on Chinese imports <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/af606559-333c-470a-883a-24a5e4f245a9\/ey-declares-mena-its-regional-headquarters-and-kfh-says-it%25e2%2580%2599s-eyeing-more-than-one-possible-saudi-target\" style=\"\" rel=\"noopener\">in recent years<\/a> in a bid to contain the country\u2019s rise in sectors that much of the developed world sees as a threat to their own economies. <\/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 a mixed picture in the markets<\/strong>, with Japan\u2019s Nikkei down in early trading, while the Hang Seng is trading in the green. Mainland Chinese markets are closed for the entire week. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, Wall Street futures are just barely in the green<\/strong>, although Dow futures are down 0.1% in pre-market trading. <\/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\">31,866<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: +28.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width: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 48.17<\/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 48.31<\/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 48.21<\/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 48.31<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,253<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +2.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,406<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: -1.8%)<\/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>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\">4,477<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +10.3%)<\/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>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\">5,709<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9% (YTD: +19.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,277<\/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: +7.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,954<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9% (YTD: +9.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 74.40<\/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\">+3.8%<\/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>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\">-0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,690<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2%<\/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 60,803<\/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\">-4.7% (YTD: +44.0%)<\/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 0.9% at yesterday\u2019s close<\/strong> on turnover of EGP 5.3 bn (31.9% above the 90-day average). International investors were the sole net sellers. The index is up 28.0% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Edita (+5.3%), Juhayna (+5.2%), and Elsewedy Electric (+5.1%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Ezz Steel (-3.7%), Emaar Misr (-2.5%), and Madinet Masr (-2.0%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"646846\">\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\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday 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\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">12<\/div>\r\n    \r\n                        <p class=\"f-graphik\">HARDHAT<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/how-well-prepared-is-egypts-energy-infrastructure-to-achieve-the-countrys-energy-transition-goals\/\"> \r\n                            How well prepared is Egypt\u2019s energy infrastructure to achieve the country\u2019s energy transition goals?<\/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\/hardhats\/how-well-prepared-is-egypts-energy-infrastructure-to-achieve-the-countrys-energy-transition-goals\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The government wants to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/06e7e381-df4d-4d89-94c7-428dba34d5a3\" style=\"\" rel=\"noopener\">generate 42%<\/a> of its electricity from renewable sources by 2030, with the latest target being <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d1a2b66-3c41-449b-934a-06d2b5f0d4ee\" style=\"\" rel=\"noopener\">adding 28 GW<\/a> of renewable energy to the country's energy mix over the next five to seven years. What are the infrastructure challenges the government has to overcome for that end? What are the obstacles facing private firms in this industry? What should the government do in order to realize its ambitious goals for green energy?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We brought together a panel of international energy and utility executives who are<\/strong><strong> helping Egypt with projects to support its energy transition<\/strong> during this year's EnterpriseAM Finance Forum. We spoke to Hassan Allam Utilities CEO <strong>Dalia Wahba<\/strong>, Baker McKenzie Partner <strong>Lamyaa Gadelhak<\/strong>, Infinity Co-Founder and CEO <strong>Nayer Fouad<\/strong>, and Taqa Arabia CEO <strong>Pakinam Kafafi.<\/strong><\/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>Setting the stage:<\/strong> The renewable energy sector in Egypt has seen significant growth over the past five years, becoming a main destination for FDI, Wahba told us. \u201cToday we have close to 2 GW of wind energy that's up and running. Almost 2 GW in solar and more to come,\u201d she elaborated, attributing this progress to \u201ca well-structured electricity sector, stable regulations, and the country's competitive advantage in renewable resources.\u201d Despite Egypt\u2019s small but growing contribution of 0.6% of global emissions, Egypt is a growing nation with ambitions and \u201cno development happens without energy,\u201d said Gadelhak.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What are the persistent infrastructure challenges we need to address?<\/strong> While strides have been made in expanding Egypt's electricity transmission infrastructure, including the construction of 550 kV lines and additional 220 kV lines, Fouad argues that ensuring sufficient evacuation capacity for future projects \u2014 particularly beyond next summer \u2014 is among the challenges that we need to overcome. He added that the existing transmission network requires further upgrades to accommodate increased demand from businesses, with capacity limitations currently posing further challenges.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Prepping the country\u2019s infrastructure for the green transition \u2014 especially for green<\/strong><strong> hydrogen \u2014 comes at a significant investm<\/strong><strong>ent cost<\/strong>, including port infrastructure and desalination facilities, said Wahba. Even with bns of USD spent developing the current infrastructure, Wahba argued that further enhancements are necessary to support large-scale hydrogen production and export.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government is actively working to address these issues, but financing constraints <\/strong><strong>pose a challenge<\/strong>, according to Fouad, adding that international financial institutions will need to play a crucial role in supporting these initiatives. Kafafi suggested that scaling and R&D could be a proper approach to addressing the high cost of financing in EMs like Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s holding private sector players back? <\/strong>The private sector in Egypt faces many hurdles while transitioning to renewable energy, as self-consumption limitations and the unavailability of suitable land for new greenfield projects hinder large-scale adoption, according to Kafafi. There's a need for regulatory changes to enable the private sector to convert existing industrial facilities, especially for energy-intensive industries like cement and steel. Such a supportive regulatory framework would also work to facilitate private players entering the nascent segments of the industry, such as heat generation and captured carbon storage and utilization, which are still in the early stages.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s all about smart policy:<\/strong> Gadelhak emphasized that it's paramount to have a supportive environment for tech development in Egypt, including R&D funding, protection for intellectual property, and a conducive regulatory framework. \u201cWhile Egypt has the potential to attract tech providers, the current technology transfer framework may be a barrier,\u201d she said, suggesting that \u2014 provided these issues are resolved \u2014 could encourage more foreign investment in tech development and manufacturing facilities in Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There are other factors private players have to consider before going green on their <\/strong><strong>investments here? <\/strong>There are three key challenges to Egypt's green hydrogen ambitions; demand, supply, and risk-sharing and finance, according to Kafafi.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bankability is another <\/strong><strong>tricky issue when it <\/strong><strong>comes to green hydrogen projects,<\/strong> due to the high initial costs and the uncertainty surrounding long-term pricing, Fouad pointed out, suggesting that financial institutions should adopt hedging mechanisms similar to the H2 Global Program in Europe to boost the feasibility of GH2 projects. The government needs to offer more competitive incentives and support to investors compared to neighboring countries like Morocco, or investors might take their green hydrogen projects elsewhere, Fouad added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Would it help if the gov\u2019t is more bullish on GH2 projects? <\/strong>\u201cGovernment participation in green hydrogen projects is not a universal determinant of bankability,\u201d said Gadelhak, arguing that whether to deem government involvement participation in these projects beneficial or not relies on several factors, such as the project's overall risk profile.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But Wahba believes that government participation can also be beneficial<\/strong> in addressing financing challenges, particularly for long-term projects and commodity-based industries. Government support can help secure financing from banks and reduce the risk associated with these investments and government initiatives can stimulate demand for green hydrogen by implementing policies and regulations that promote its use in various sectors, she explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How are we performing on the batteries and storage front?<\/strong> While battery costs are decreasing, government support through grants remains important for widespread adoption. Storage is crucial for integrating renewable energy into the grid. However, Egypt is still in the early stages of implementing battery storage solutions at scale, according to Wahba. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What could be done to elevate this segment of green transition?<\/strong> It's essential that Egypt develops its own battery manufacturing capabilities to compete with different markets, especially China, Fouad suggested. Setting up such factories here would require significant government support, including tax incentives and subsidies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What does the recently released national strategy for low-carbon hydrogen mean for the<\/strong><strong> sector?<\/strong> Wahba said that the strategy lacks the \u201chow to\u201d, arguing that the strategy outlines general goals, but the specific strategies and mechanisms for achieving them remain unclear. She emphasized the need for the strategy to address issues such as certification processes, grid infrastructure, and export market requirements. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite the challenges, the panel remained optimistic about Egypt's energy transition.<\/strong> \u201cBy focusing on the long-term savings and positive impact on our balance sheets, we can justify the necessary investments and incentives,\u201d Kafafi concluded.<\/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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Talaat Moustafa Group (TMG) has inked a strategic partnership with Huawei<\/strong> that will see TMG leverage the company\u2019s AI-powered cloud technologies in its Noor City project. (<a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/2203.pdf\" style=\"\" rel=\"noopener\">Press<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/2203.pdf\" style=\"\" rel=\"noopener\">release, pdf<\/a>)<\/li>\n<li><strong>Companies want to help set shipping waste management company: <\/strong>Port Said Chamber of Navigation received 40 applications from companies interested in participating in the establishment of the first Egyptian joint-stock company in the shipping waste management sector with investments of EGP 100 mn. The project is expected to begin operations in December. (<a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/09\/30\/1830164\" style=\"\" rel=\"noopener\">Al Borsa<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hardhat\/\">Hardhat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wind-energy\/\">Wind Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\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=\"646848\" 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\/02\/646848\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646848\" class=\"content-area-description single-story post-646848 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>1-3 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 O<\/span><span>c<\/span><span>tober (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\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>Quadrupled | More auto investments | Locally-made electrolyzers.<\/p>\n","protected":false},"featured_media":646820,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-646819","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"e4f8d9ea-d6a9-4927-a16e-b331b43d2bef","teaser":"Quadrupled | More auto investments | Locally-made electrolyzers.","photo_url":"https:\/\/ent.news\/2024\/10\/145.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Our fourth IMF loan review may be pushed back again - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/our-fourth-imf-loan-review-may-be-pushed-back-again\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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