{"id":646903,"date":"2024-10-03T00:00:00","date_gmt":"2024-10-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=646903"},"modified":"2025-12-17T20:38:38","modified_gmt":"2025-12-17T20:38:38","slug":"google-will-start-paying-egyptian-creators-in-local-currency","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/google-will-start-paying-egyptian-creators-in-local-currency\/","title":{"rendered":"Google will start paying Egyptian creators in local currency"},"content":{"rendered":"<section id=\"646905\" 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=\"646905\">\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\/03\/could-maait-be-the-next-imf-executive-director-representing-arab-states\/\">\r\n                            Could Maait be the next IMF executive director representing Arab states                        <\/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\/03\/could-maait-be-the-next-imf-executive-director-representing-arab-states\/\" target=\"_blank\">\n  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photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/268.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"646906\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/could-maait-be-the-next-imf-executive-director-representing-arab-states\/268-jpg-95\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/268.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"268.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/268.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/268.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646905\" class=\"content-area-description single-story post-646905 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-mohamed-maait 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\/.e07975ae-bc6e-4e6e-bee6-c735ae123c67.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good m<\/strong><strong>ornin<\/strong><strong>g, all.<\/strong> We got another packed issue for you this morning to wrap up one busy week.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>BEFORE WE DIVE IN- We are heading into a three-day weekend. <\/strong>The private and public sectors, as well as banks and the EGX, are taking Sunday off in observance of Armed Forces Day. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That means EnterpriseAM Egypt won\u2019t be landing in your inbox on Sunday<\/strong>, but we will be back in your inbox at our customary time on Monday. <\/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=\"wwtt2\"><\/a> <strong>Could <\/strong><strong>Maait <\/strong><strong>succeed Mohieldin at the IMF?<\/strong> Former Finance Minister Mohamed Maait is the top candidate to replace Mahmoud Mohieldin as the IMF\u2019s executive director representing Arab states and the Maldives, an informed source tells Enterprise. The expected appointment comes as Mohieldin\u2019s second term in the position \u2014 which he has held since 2020 \u2014 comes to an end.<\/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=\"wwtt5\"><\/a> <strong>#1- <\/strong><strong>Non-oil private sector to continue growing? <\/strong>S&amp;P Global will publish Egypt\u2019s PMI figures for September this morning at 6:15 CLT, measuring the country\u2019s non-oil private sector activity. Last month\u2019s non-oil private sector activity <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/32fe05be-c843-4ccd-9e99-d5fb997ce85d\/non-oil-private-sector-activity-grows-after-three-years-in-contraction\" style=\"\" rel=\"noopener\">expanded<\/a> for the first time in over three years.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#2- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/csew.net\/\" style=\"\" rel=\"noopener\">Cairo Sustainable Energy Week<\/a><\/strong><strong> wraps up today<\/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. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the agenda for the conference\u2019s last day<\/strong> are sessions on energy efficiency, women in the sector, AI, the importance of biodiversity, wind power in the region, and more. You can check out the full agenda <a target=\"_blank\" href=\"https:\/\/csew.net\/agenda\/\" style=\"\" rel=\"noopener\">on the event\u2019s website<\/a>.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s another cool day in Cairo<\/strong>, with a high of 30\u00b0C and a low of 22\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s more or less the same in Alexandria<\/strong>, which will be seeing a high of 29\u00b0C and a low of 22\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And over the weekend<\/strong>, expect to see a high of 31\u00b0C and a low of 21\u00b0C in the capital. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a mixed picture on the front pages of the foreign press today<\/strong>, with updates on Israel\u2019s invasion of and attacks on Lebanon, speculation over Israel\u2019s potential methods of retaliation for Iran\u2019s attacks earlier this week, and OpenAI\u2019s latest funding round grabbing headlines. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#1- Israel bombed central Beirut for the second time this week<\/strong>, <strong>killing at least six in an attack on a medical center in the heart of the city<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-strikes-heart-beirut-killing-six-2024-10-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Israel missiles also continued to target southern suburbs of the city. Israel\u2019s ground offensive in Lebanon has also killed eight Israeli soldiers in the first day after its launch, the <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2024\/10\/02\/israel-lebanon-invasion-hezbollah-war\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> reports. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US and other G7 partners are working on limiting Israel\u2019s response to Iran\u2019s attacks <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3d3ec20c-2a4c-4f7c-92fb-33e7b0e421cb\/this-morning:-opec%2B-meets-today-%2B-space42-is-live-on-the-adx\" style=\"\" rel=\"noopener\">earlier this week<\/a><\/strong><strong> and deterring it from attacking the latter\u2019s nuclear facilities<\/strong>, which some officials have called for, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/c0713773-1e46-4f77-88f9-cc22b85d436c\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. US President Joe Biden said he would not support such an attack, signaling plans to sit down with Israeli Prime Minister Benjamin Netanyahu to advise on Israel\u2019s response, and to escalate sanctions on Iran, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-02\/israeli-soldiers-killed-in-lebanon-as-threat-of-wider-war-grows?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports separately. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The escalation of attacks across the region has forced airlines to take longer paths over Egyptian and Saudi airspace to avoid shuttered airspace<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-02\/airlines-squeeze-into-saudi-airspace-as-mideast-conflict-flares?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> said, citing flight tracking data on FlightRadar24.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- OpenAI\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/openai.com\/index\/scale-the-benefits-of-ai\/\" style=\"\" rel=\"noopener\">secured<\/a><\/strong><strong> USD 6.6 bn in fresh funding<\/strong>, giving the company a whopping valuation of USD 157 bn, with backing from Microsoft, Nvidia, and Josh Kushner\u2019s VC firm Thrive Capital, which led the round, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-02\/openai-has-closed-new-funding-round-raising-over-6-5-billion?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. Abu Dhabi tech investor MGX also participated in the funding round \u2014 we have more in the news well, below. Notably absent from the funding round is Apple, who was said to potentially invest in the firm earlier. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The funding will be used to \u201cdouble down\u201d on AI research and increase computing capacity<\/strong>, the statement said. The startup also reportedly asked its investors for exclusive arrangements to stop them from investing in other rival AI startups, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/66e0653e-c446-47b2-8a7f-baa54ccbfb9a\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports, citing multiple sources. <\/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\/mohamed-maait\/\">Mohamed Maait<\/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=\"646907 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=\"646907\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/646907\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646907\" class=\"content-area-description single-story post-646907 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1085.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">For the first time in Egypt<\/span><span>, Somabay is thrilled to host the legendary Amy Winehouse Band live in concert. Prepare for an unforgettable evening filled with soul, jazz and iconic hits as the band performs live at Somabay\u2019s breathtaking The Marina in The Theater Somabay on 5 October. Set against the stunning backdrop of the Red Sea, this exclusive event promises a magical night of music and entertainment in a unique setting. #TheAmyWineHouseBand #OneParadiseAllSeasons #SomabayRedSea<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"646908\" 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=\"646908\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">ENTERPRISE FINANCE FORUM<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/a-look-into-egypts-real-estate-market\/\">\r\n                            A look into Egypt\u2019s real estate market                        <\/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\/03\/a-look-into-egypts-real-estate-market\/\" 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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As of late, the luxury market too is seeing a surge in activity, with both local and Gulf investors driving sales \u2014 and prices \u2014 up. But, as construction costs rise, inflation bites, and the threat of further currency depreciation looms, can the real estate sector sustain its momentum while overcoming these economic pressures? Are we looking at the early signs of a potential bubble? And, can developers keep pace with hot demand while addressing affordability and pricing challenges? <\/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>We gathered a number of key real estate players during this year\u2019s EnterpriseAM Finance <\/strong><strong>Forum<\/strong> \u2014 we spoke to <strong>Ayman Amer<\/strong>, general manager of SODIC, <strong>Dasha Badrawi<\/strong>, executive vice chairman of Marakez, and <strong>Ibrahim El Missiri<\/strong>, CEO of Somabay, about the ins and outs of the Egyptian real estate market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ras El Hekma has been a game-changer for Egypt\u2019s real estate market<\/strong>. This year, brokers from the UAE and Saudi Arabia ramped up efforts to market and sell their projects here, Amer said. \u201cAfter the announcement of Ras El Hekma, everything changed. The focus of the whole world has shifted to the North Coast.\u201d Badrawi echoed this sentiment, noting that Ras El Hekma is one of the \u201ctwo big events the North Coast has seen this summer,\u201d which alongside the TMG project, significantly boosted demand for property in the coastal city. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The North Coast\u2019s growing appeal to Gulf investors has <\/strong><strong>brought with it skyrocketing prices. <\/strong>Property rates have surged to dizzying heights, with Ras El Hekma driving much of the upward momentum.\u201cRoom rates have jumped to USD 3k or more per night for some villas,\u201d Amer said, pointing to the influx of foreigners driving up demand for luxury spots along the coast, with some villas going for USD 11k-14k per night, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rest assured, there is no bubble: <\/strong>Despite perennial concerns about a potential real estate bubble, our panelists were quick to dispel the idea. \u201cThere\u2019s no bubble for too many reasons,\u201d Amer said, citing a significant mismatch between supply and demand. Developers are struggling to deliver enough units to keep up with the country\u2019s housing needs. El Missiri agreed, adding that while there had been a \u201cdemand bubble\u201d fueled by speculative investments, the market has since shifted back to real, sustainable demand. Population growth, limited supply, and steady purchasing power continue to support the market\u2019s upward trajectory, leaving little room for a price bubble. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The demand metrics are solid:<\/strong> Egypt\u2019s real estate market is propelled by a powerful combination of cultural and economic dynamics. \u201cWith a population of 120 mn, people are constantly looking to buy real estate, not just for themselves but for their children as well,\u201d Amer said. Throw in a rapidly growing population to the mix, and the demand metrics are pretty solid.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Prices vs. affordability: <\/strong>As prices continue to rise, so do concerns over affordability. According to Amer, \u201cprices have increased between 200% and 300% over the last three years,\u201d and that\u2019s got buyers and developers feeling the pinch. Inflation and rising construction costs are at the root of these massive hikes. But there\u2019s another kicker, \u201clocal salaries haven\u2019t kept up with the float of the EGP,\u201d Badrawi said. This mismatch between earnings and property prices is making it tough for many Egyptians to keep up, prompting more people to consider extended payment plays \u2014 or join the growing crowd of renters. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Renting may just be the new buying: <\/strong>Long-term rentals are becoming an increasingly common option for Egyptians who can no longer afford to buy property. \u201cTwenty percent of properties in West and East Cairo are now rented, which is a significant shift,\u201d Amer said, adding that some renters are shelling up to EGP 35k per month for homes, while bigger houses are renting for up to EGP 150k. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Look<\/strong><strong>ing from the outside in:<\/strong> Both Amer and El Missiri pointed out that Egyptian real estate remains relatively affordable compared to international markets. We\u2019re still far behind in terms of price per square meter compared to global markers, El Missiri said. While the average price per square meter in Egypt is USD 2-3k, it\u2019s between EUR 5-18k in Greece, El Missiri said \u2014 \u201cWe have a long way to go in terms of price points.\u201d More can be done to make Egypt more attractive to foreign tourists and investors, Badrawi said, pointing to better infrastructure, hospitality, and transport services.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Time to look abroad: <\/strong>\u201cAnywhere between 30% to 35% of our homeowners [in Somabay] are from abroad \u2014 not just Egyptian expats but also foreigners,\u201d El Missiri added. The region\u2019s proximity to Saudi Arabia and potential to attract international buyers could significantly boost Egypt\u2019s real estate sector in the coming years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Now is the Red Sea\u2019s moment to shine: <\/strong>The Red Sea region is poised to become Egypt's next major real estate hotspot. \u201cThe Red Sea is coming,\u201d El Missiri said, predicting that developers will soon begin acquiring land there due to its superior infrastructure and connections compared to the North Coast. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The institutional investment gap:<\/strong> While individual and Gulf buyers continue to drive demand in some places, institutional investment remains a largely untapped opportunity in Egypt\u2019s real estate sector. \u201cThere are simply not enough institutional opportunities,\u201d Badrawi said, pointing to the lack of recurring revenue assets and regulatory hurdles preventing institutional investors from fully engaging with the market. Amer also called for more regulation and transparency to attract larger pools of institutional capital. We need to create a more transparent and competitive environment if we want to attract significant institutional investment, he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Is luxury the new hot ticket?<\/strong> Egypt\u2019s luxury market is growing across the board, with respect to different buyer profiles and price points, according to Amer. High-end products accounted for some 70% of SODIC\u2019s sales this year, he said. \u201cThere are many buyers who can afford these high-end products, and they are actively seeking them out when the right unique selling propositions are in place.\u201d This trend is borne out by the numbers \u2014 SODIC\u2019s latest luxury development on the North Coast, Ogami, raked in a record EGP 20 bn in sales within just a week of its launch. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The challenges are just as real as the demand: <\/strong>Rising construction costs, inflation, and potential fuel price hikes could disrupt the sector\u2019s momentum. \u201cIf the USD stabilizes at EGP 50-55, then real estate prices will rise by around 12% to 15% \u2014 something we expect as part of the normal course of the market,\u201d Amer said. But, as El Missiri warned, if subsidies on fuel are removed, \u201cconstruction costs could go through the roof.\u201d To cope with these pressures, developers will need to adopt flexible pricing models and adjust to the shifting economic landscape.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the secondary market: <\/strong>In addition to inflationary pressures, the secondary real estate market faces its own set of challenges, according to Badrawi. Secondary unit holders are struggling to compete with developers who offer extended payment plans, putting strain on individual sellers. \u201cThe units that do move in the secondary market are usually in communities that are already built and thriving,\u201d Badrawi said, pointing out the liquidity issues and payment term competition could force many to liquidate properties, further flooding the secondary market. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The long-term outlook for Egypt\u2019s real estate sector remains positive. <\/strong>El Missiri stressed that the fundamental demand for housing will persist as Egypt\u2019s population grows and income levels adjust to new economic realities. \u201cWe\u2019re going back to real demand,\u201d he said, \u201cand as people\u2019s incomes adjust, the market will stabilize.\u201d Ayman reinforced this optimism noting that with a shortage of supply and a growing middle class, there is little reason to believe that the sector is facing a bubble. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1962.jpg?ssl=1\"\/><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-finance-forum\/\">Enterprise Finance Forum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"646910\" 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=\"646910\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/egypts-net-foreign-assets-surplus-shrinks-27-to-usd-9-7-bn-in-august\/\">\r\n                            Egypt\u2019s net foreign assets surplus shrinks 27% to USD 9.7 bn in August                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/egypts-net-foreign-assets-surplus-shrinks-27-to-usd-9-7-bn-in-august\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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This represents our fourth consecutive month in the green \u2014 the country has maintained a surplus since May, when net foreign assets shifted from deficit to surplus for the first time since February 2022.<\/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>Driving the decline were commercial banks:<\/strong> Net foreign assets in commercial banks were back in the red, coming in with a deficit of USD 536 mn, down from a surplus of USD 2.8 bn in July. While liabilities remained essentially unchanged, dipping USD 81 mn throughout the month, assets fell 11% to USD 27.6 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The central bank fared much better, but did see its surplus shrink a little over the month: <\/strong>The central bank\u2019s net foreign asset surplus dipped 1.9% to USD 10.3 bn, down from USD 10.5 bn in July. Assets fell USD 115 mn throughout the month, while liabilities increased by USD 124 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Egypt\u2019s net foreign asset deficit reached an all-time high back in January, recording <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/428b4720-c846-42b6-8058-e26c9aaff040\/net-foreign-liabilities-hit-record-high-in-january-for-second-consecutive-month\" style=\"\" rel=\"noopener\">USD 29.0 bn<\/a>, before starting to gradually drop in the months that followed following the Ras El Hekma agreement, the float of the EGP, and the inflows that followed.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/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\/foreign-exchange\/\">foreign exchange<\/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=\"646912\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section 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data-block-id=\"ycwvrhp\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ycwvrhp-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ycwvrhp-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div 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272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"646913\" 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=\"646913\">\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\">PAYMENTS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/google-will-start-paying-creators-in-local-currency\/\">\r\n                            Google will start paying Egyptian creators in local currency                        <\/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\/03\/google-will-start-paying-creators-in-local-currency\/\" 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\/03\/google-will-start-paying-creators-in-local-currency\/')\">\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\/03\/google-will-start-paying-creators-in-local-currency\/\">\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=Google will start paying creators in local currency&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/google-will-start-paying-creators-in-local-currency\/\">\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\/03\/google-will-start-paying-creators-in-local-currency\/&title=Google will start paying creators in local currency\">\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=Google+will+start+paying+creators+in+local+currency+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F03%2Fgoogle-will-start-paying-creators-in-local-currency%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\/03\/google-will-start-paying-creators-in-local-currency\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/283.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"646914\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/google-will-start-paying-creators-in-local-currency\/283-jpg-33\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/283.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"283.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/283.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/283.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646913\" class=\"content-area-description single-story post-646913 post type-post status-publish format-standard has-post-thumbnail hentry category-payments tag-enterpriseam tag-google tag-payments 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\/.7054c8d4-87a8-47e8-bcb4-e7bf301603e7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Google to begin paying content creators in EGP starting next year:<\/strong> The tech giant has notified content creators and publishers on its platforms that they will begin receiving their earnings in local currency starting May 2025 \u2014 Google currently pays creators on its platforms in USD, Google said in a statement to Enterprise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not just Egypt:<\/strong> The shift is part of a larger move towards conducting payments for content creators and publishers around the world in their respective local currencies, with the company already paying creators in local currencies in countries that include Chile, Indonesia, Japan, Jordan, Mexico, Morocco, New Zealand, Norway, Peru, South Africa, Sweden, Turkey, and the UAE, with plans to expand to more countries globally in 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cWe know it can take time to prepare and adjust finances, which is why we notified our community six months in advance. Our support for content creators and publishers in Egypt remains unchanged,\u201d the company told us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT- <\/strong>The number of Egyptian YouTube channels making over EGP 1 mn in revenues is up 50% y-o-y.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/google\/\">Google<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/payments\/\">payments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    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data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"259.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/259.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/259.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646915\" class=\"content-area-description single-story post-646915 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-building-code tag-cabinet-watch 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\/.70a95caa-9c30-4931-b8e7-08d9c758fff3.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Madbouly cabinet approved a raft of decisions in its <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02u3Zm5k19xdb3KEZ2pj6JpqLqiWCajhHpaAF6yYhmgdPJ9yigsA5rQCbBq3Kza835l\" style=\"\" rel=\"noopener\">weekly meeting<\/a><\/strong>, including ones that pertain to state-owned land, the establishment of a new freezone, and a new golden license issuance. <\/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- <\/strong><strong>Speeding up the process of legalizing the status of squatters on state-owned land:<\/strong> The cabinet approved a draft law that grants administrative bodies the right to handle any encroachments on state-owned lands under their jurisdictions through \u201cadministrative procedures,\u201d through direct agreement with the building owner or with those who have reclaimed or cultivated that land.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s about more than reconciliation: <\/strong>House Housing Committee Secretary Amin Massoud told Enterprise that the draft law aims encourage investments in state-owned land \u2014 the recent wave of foreign investments we\u2019ve seen in Ras El Hekma and expected investments in the Red Sea make it necessary to introduce the legislative amendments needed to ensure squatters legalize their stay on state-owned land so that it can attract investors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What does it entail? <\/strong>The draft law aims to speed up the process of reconciling with squatters who submit requests to legalize their stay \u2014 giving us a clear timeline for issuing the executive regulations and quickly resolving pending applications and clearing the backlog of cases. The draft decision also includes more reasonable fees for legalization. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not the first time we hear of this: <\/strong>Last November, the cabinet <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/62bf8034-9982-49bc-9cc2-fcac4fef2324\/cabinet-greenlights-bill-to-simplify-property-tenure-regularization-%2B-egypt,-croatia-agreement-to-eliminate-double-taxation\" style=\"\" rel=\"noopener\">approved<\/a> a very similar draft law and said it will fast-track the executive regulations to the act, with hopes of having them in place within a month from mid-November 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Gov\u2019t to establish USD 60 mn freezone for linen and textile production:<\/strong> The cabinet approved a decision to set up a USD 60 mn freezone for the production of linen in Sadat City \u2014 dubbed Kingdom Linen. The entirety of the zone\u2019s production will be exported and products will have a local component of no less than 30%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Emisal receives golden license:<\/strong> The cabinet approved a draft decision granting The Egyptian Minerals and Salts Company at Fayoum (Emisal) a golden license for its project to establish and operate a factory for the production of potassium sulfate fertilizers in Fayoum. The EGP 600 mn factory will be built on an area of 5.6k sqm.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/building-code\/\">building code<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cabinet-watch\/\">cabinet watch<\/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=\"646917 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=\"646917\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/646917\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646917\" class=\"content-area-description single-story post-646917 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.eg\/insights\/2q24-ibr\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2273.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"646918\" 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=\"646918\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/polands-padma-art-wants-to-set-up-a-eur-70-mn-furniture-complex-in-new-alamein\/\">\r\n                            Poland\u2019s Padma Art wants to set up a EUR 70 mn furniture complex in New Alamein                        <\/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\/03\/polands-padma-art-wants-to-set-up-a-eur-70-mn-furniture-complex-in-new-alamein\/\" 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\/03\/polands-padma-art-wants-to-set-up-a-eur-70-mn-furniture-complex-in-new-alamein\/')\">\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\/03\/polands-padma-art-wants-to-set-up-a-eur-70-mn-furniture-complex-in-new-alamein\/\">\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=Poland\u2019s Padma Art wants to set up a EUR 70 mn furniture complex in New Alamein&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/polands-padma-art-wants-to-set-up-a-eur-70-mn-furniture-complex-in-new-alamein\/\">\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\/03\/polands-padma-art-wants-to-set-up-a-eur-70-mn-furniture-complex-in-new-alamein\/&title=Poland\u2019s Padma Art wants to set up a EUR 70 mn furniture complex in New Alamein\">\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=Poland%E2%80%99s+Padma+Art+wants+to+set+up+a+EUR+70+mn+furniture+complex+in+New+Alamein+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F03%2Fpolands-padma-art-wants-to-set-up-a-eur-70-mn-furniture-complex-in-new-alamein%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\/03\/polands-padma-art-wants-to-set-up-a-eur-70-mn-furniture-complex-in-new-alamein\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/263.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"646919\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/polands-padma-art-wants-to-set-up-a-eur-70-mn-furniture-complex-in-new-alamein\/263-jpg-44\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/263.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"263.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/263.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/263.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646918\" class=\"content-area-description single-story post-646918 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-enterpriseam tag-manufacturing tag-new-alamein 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\/.290b1315-6677-4cb6-b1e8-ba8068e431f7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>European companies are getting ready to set up industrial complexes and factories in <\/strong><strong>Egypt<\/strong>, with Poland\u2019s Padma Art and the Egyptian arm of Germany\u2019s Leoni both preparing multi EUR mn projects.<\/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\">POLAND\u2019S PADMA ART TO BUILD EUR 70 MN FURNITURE COMPLEX-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New Polish furniture industrial complex in the works:<\/strong> Polish furniture manufacturer <a target=\"_blank\" href=\"https:\/\/padmaart.pl\/en\/\" style=\"\" rel=\"noopener\">Padma Art<\/a> plans to build an EUR 70 mn industrial complex to locally produce furniture, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/mti.egypt\/posts\/pfbid0TDe81AxXsoRNrxCKVQ9thYJZwjGPAqycLdMHGmVebpRxH19mXE5EUg2yUnhapLBgl\" 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>What we know about the project:<\/strong> Set to span 400k sqm in New Alamein, the complex is expected to be a major manufacturing venture that will earmark most of its output to Arab, US, and European markets. A portion of the production will go to cover New Alamein and surrounding coastal cities and resorts. The company has set its sights on an annual export target of EUR 200 mn.<\/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\">LEONI EGYPT TO ESTABLISH EUR 40 MN FACTORY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s a new factory in the works in the Robbiki Leather City: <\/strong>Cable and harnessing manufacturing firm Leoni Egypt will set up an EUR 40 mn, 13k sqm factory for cable harness production in Robbiki Leather City, under an agreement inked with manager of the leather-specialized industrial complex Cairo for Investment and Development, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/mti.egypt\/posts\/pfbid0yNy7mWJWW2d768gkC4tpjvXwTSLJ8dqdPsk51JhoS2ygNKqxi9eWa2iTzJuzL4tyl\" 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>The details: <\/strong>The project is expected to boost Leoni\u2019s exports from Egypt by 50% to generate around EUR 240 mn annually. It is also expected to create around 3k direct and indirect jobs. The factory is expected to kick off operations within a year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-alamein\/\">New Alamein<\/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=\"646920\" 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=\"646920\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/cement-production-cut-extended-again\/\">\r\n                            Egypt\u2019s cement production cut extended 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\/03\/cement-production-cut-extended-again\/\" 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\/03\/cement-production-cut-extended-again\/')\">\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\/03\/cement-production-cut-extended-again\/\">\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=Cement production cut extended again&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/cement-production-cut-extended-again\/\">\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\/03\/cement-production-cut-extended-again\/&title=Cement production cut extended again\">\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=Cement+production+cut+extended+again+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F03%2Fcement-production-cut-extended-again%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\/03\/cement-production-cut-extended-again\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/261.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"646921\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/cement-production-cut-extended-again\/261-jpg-40\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/261.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"261.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/261.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/261.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646920\" class=\"content-area-description single-story post-646920 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-building-code tag-commodities tag-enterpriseam tag-infrastructure tag-legislation tag-manufacturing tag-real-estate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.ed3f2771-f9af-46e9-91ee-55345622ab91.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Cement production cuts extended another year: <\/strong>The Egyptian Competition Authority (ECA) extended the cement supply cut for a fourth year, head of the cement division of the Federation of Egyptian Industries Ahmed Shireen Korayem told Enterprise. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The ECA last year extended the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9d280cef-6284-40c5-853b-a30bfae11f73\" style=\"\" rel=\"noopener\">cement supply cut<\/a> until July 2024 at the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e0916ca-e32c-4633-8bba-1db3526c71a3\" style=\"\" rel=\"noopener\">request of<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e0916ca-e32c-4633-8bba-1db3526c71a3\" style=\"\" rel=\"noopener\">cement producers<\/a> who were struggling with low prices, dampened demand, and supply gut. The ECA had initially introduced a one-year 10% supply cut in 2021 after an overflowing supply of cement left many cement makers on the brink of collapse. The cut has been renewed annually since then in response to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/45b08953-91ff-4997-92ca-50361134c7f2\" style=\"\" rel=\"noopener\">requests<\/a> from cement factories.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Can we see demand for cement rise? <\/strong>President Abdel Fattah El Sisi <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/49f2ee30-824f-4ac8-bc3b-b19ae507e7d5\/el-sisi-reinstates-the-full-provisions-of-the-2008%253cmark%253e-building%253c%2Fmark%253e-law-in-a-move-aimed-at-reviving-the-construction-sector\" style=\"\" rel=\"noopener\">directed the government<\/a> to scrap the construction licensing requirements put forward in 2021 and reinstating the full provisions of the 2008 Building Law is expected to boost demand for cement, Korayem said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How big of a surge should we expect? <\/strong>Korayem was hesitant to predict a specific percentage of growth in demand, given inflation and the rising costs of building materials. While there is clearly demand for construction, it isn\u2019t obvious whether it will \u201cturn into real demand or remain latent amid continued economic pressure on individuals.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where things stand:<\/strong> Cement production remained stable throughout the year, despite declining domestic demand, Korayem told us. He predicted that total production would reach some 45 mn tons this year, down from just under 47 mn tons in 2023. The drop in demand may be offset by a 2-3 mn ton increase in exports, but \u201cexports are being sold at cost price to provide foreign currency for producers to cover their imports of coal and spare parts,\u201d he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers:<\/strong> Local cement production increased by 6.5% y-o-y to 34.9 mn tons during the first eight months of 2024,according to market data seen by Enterprise. Some 13% of locally produced cement was exported during the first eight months of the year, compared to 7% during the same period last year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/building-code\/\">building code<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/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\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"646922\" 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=\"646922\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/palm-hills-to-snap-up-mansours-29-6-stake-in-taaleem\/\">\r\n                            Palm Hills to snap up Mansour\u2019s 29.6% stake in Taaleem                        <\/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\/03\/palm-hills-to-snap-up-mansours-29-6-stake-in-taaleem\/\" 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\/03\/palm-hills-to-snap-up-mansours-29-6-stake-in-taaleem\/')\">\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\/03\/palm-hills-to-snap-up-mansours-29-6-stake-in-taaleem\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Palm Hills to snap up Mansour\u2019s 29.6% stake in Taaleem&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/palm-hills-to-snap-up-mansours-29-6-stake-in-taaleem\/\">\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\/03\/palm-hills-to-snap-up-mansours-29-6-stake-in-taaleem\/&title=Palm Hills to snap up Mansour\u2019s 29.6% stake in Taaleem\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Palm+Hills+to+snap+up+Mansour%E2%80%99s+29.6%25+stake+in+Taaleem+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F03%2Fpalm-hills-to-snap-up-mansours-29-6-stake-in-taaleem%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\/03\/palm-hills-to-snap-up-mansours-29-6-stake-in-taaleem\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/265.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"646923\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/palm-hills-to-snap-up-mansours-29-6-stake-in-taaleem\/265-jpg-59\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/265.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"265.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/265.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/265.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646922\" class=\"content-area-description single-story post-646922 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam tag-ma-watch tag-palm-hills-developments tag-taaleem wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.c918ba64-a765-4b87-9544-02002895f4b5.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Palm Hills is getting a piece of Taaleem: <\/strong>Property development giant Palm Hills Developments (PHD) will acquire Chairman Yasseen Mansour\u2019s 29.6% stake in higher education outfit Taaleem, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/191.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The acquisition will go through following the greenlight from the ordinary general assembly.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> PHD will buy Mansour\u2019s 216.1 mn shares at EGP 8.65 a share in an EGP 1.9 bn transaction. The developer has big plans in the education sector and Mansour\u2019s ownership of a stake in Taaleem would present a conflict of interest, the disclosure said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Mansour bought an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5a68956-947a-4bfa-b470-5cfbf94a267b\/\" style=\"\" rel=\"noopener\">additional 10.1% stake<\/a> in Taaleem in an EGP 773.2 mn transaction last week, with the goal of seeing the company establish the largest number of private universities in Egypt, alongside finding high-tech solutions for administration and broadening the company\u2019s social impact.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PHD and Taalemem are no strangers: <\/strong>Earlier last month, PHD and Taaleem <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4206f035-dcac-436b-be67-35687de4ee9a\/palm-hills,-taaleem-inaugurate%253cmark%253e-badya%253c%2Fmark%253e-university\" style=\"\" rel=\"noopener\">inaugurated<\/a> Badya University \u2014 a joint venture between the two sides \u2014 in New October City. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PHD has big education plans, here and abroad: <\/strong>Mansour said last month that PHD plans to set up 10 schools in the country within the next 10 years. It is also looking to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/13c8fe0f-1cbd-43e6-8c83-262051a5b263\/\" style=\"\" rel=\"noopener\">develop up to 15 new schools in Saudi Arabia<\/a> in partnership with <a target=\"_blank\" href=\"https:\/\/www.dallah.com\/\" style=\"\" rel=\"noopener\">Dallah Albaraka<\/a> with combined investments of USD 300 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That\u2019s not the only acquisition in the pipeline for PHD: <\/strong>The developer\u2019s board agreed to buy its majority owners\u2019 \u2014 El Mansour and El Maghraby for Investment and Development \u2014 9.5% stake in Macor for Securities Investment Company, pending approval from the company\u2019s ordinary general assembly. PHD already owns 60% of Macor. Once the acquisition goes through, PHD will assume control over 69.5% of the company. The acquisition could be valued at some EGP 175.6 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- A capital decrease in the works:<\/strong> PHD\u2019s board gave its approval to a capital decrease that would see the company retire some 61.7 mn treasury shares. The board also approved buying back 88.2 mn treasury shares, capped at 3% of the company\u2019s issued shares, via the special operations market.<\/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\">PHD SECURES EGP 10.3 BN SYNDICATED LOAN-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PHD secures <\/strong><strong>EGP 10.3 bn in fina<\/strong><strong>ncing for its Badya project:<\/strong> PHD has secured a long-term EGP 10.3 bn loan from a banking consortium to finance the development of its sustainable smart city Badya in New October City, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/240.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The loan is the largest to ever be offered Egypt to a private sector company in the real estate sector, according to the release.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Badya? <\/strong>PHD\u2019s EGP 100 bn <a target=\"_blank\" href=\"https:\/\/www.palmhillsdevelopments.com\/en-us\/getInTouch\/4bd4b6de-35e4-42bc-a2e0-e0b13be506ad\/mega_residential_projects?campaignid=campaignid&adgroupid=adgroupid&keyword=keyword&keyword=badya&device=device&device=c&campaignname=%7Bcampaignname%7D&adgroupname=%7Badgroupname%7D&gad_source=1&gclid=CjwKCAjwufq2BhAmEiwAnZqw8klnIEW07_CcC0yzmu2F1hJWksHhJFl5Eazoadn_qFWbYSmGr_guPRoCOGsQAvD_BwE\" style=\"\" rel=\"noopener\">Badya<\/a> project is one of the company\u2019s largest developments and is distinguished by its emphasis on sustainability and applying state-of-the-art tech applications. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s involved? <\/strong>The banking consortium included Banque Misr, the National Bank of Egypt, Banque du Caire, Emirates NBD, Abu Dhabi Commercial Bank, Al Baraka Bank, Al Ahli Bank of Kuwait - Egypt, and the Industrial Development Bank.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palm-hills-developments\/\">Palm Hills Developments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/taaleem\/\">Taaleem<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"646924\" 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=\"646924\">\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\">Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/gasc-purchases-3-1-mn-tons-of-wheat-to-be-supplied-monthly-through-april\/\">\r\n                            Egypt purchases 3.1 mn tons of wheat to be supplied monthly through April                        <\/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\/03\/gasc-purchases-3-1-mn-tons-of-wheat-to-be-supplied-monthly-through-april\/\" 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 purchase \u2014 one of GASC\u2019s largest \u2014 will see a monthly 510k metric tons of wheat sourced from the Black Sea region. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details are fuzzy: <\/strong>The wheat will reportedly be supplied by a JV between an Egyptian company and a major global supplier. The price for each month\u2019s supply will be assessed based on market price for the month, one source told the newswire.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The government has been looking to capitalize on a global dip in prices in efforts to bolster strategic wheat reserves amid geopolitical tension. President Abdel Fattah El Sisi <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4448ca70-634d-4b89-bfec-59e7237cc21f\/\" style=\"\" rel=\"noopener\">reportedly personally ordered<\/a> GASC's biggest ever tender in August after he received an intelligence briefing that raised concerns over our food security. The massive tender fell short of its target, with GASC <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c7d5003c-c3c1-41a8-94b0-e1233f99cb4a\/\" style=\"\" rel=\"noopener\">purchasing 280k tons<\/a> of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21340043-4153-493c-b299-be6b09b9e480\/our-biggest-wheat-tender-to-date\" style=\"\" rel=\"noopener\">3.8 mn tons<\/a> it aimed to buy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Question marks remain: <\/strong>According to Reuters, traders have expressed doubts that the order will be fulfilled, with one person \u201csaying that it could be conditional on whether the company will be able to fulfill its October shipment\u201d \u2014 GASC <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c6850152-c60d-4288-897a-cf5ba0dd2af8\/gov%25e2%2580%2599t-wants-to-launch-over-usd-300-mn-worth-of-ppps-at-dekheila-port.-plus:-cairo-international-airport,-le-mans,-citibank,-beyti,-ci-capital\" style=\"\" rel=\"noopener\">purchased 430k tons of Russian wheat<\/a> in September for delivery this month. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gasc\/\">GASC<\/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=\"646926\" 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=\"646926\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/parliamentary-committee-results-are-in-2\/\">\r\n                            The House committee results are in                        <\/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\/03\/parliamentary-committee-results-are-in-2\/\" 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\/03\/parliamentary-committee-results-are-in-2\/')\">\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\/03\/parliamentary-committee-results-are-in-2\/\">\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=Parliamentary committee results are in&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/parliamentary-committee-results-are-in-2\/\">\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\/03\/parliamentary-committee-results-are-in-2\/&title=Parliamentary committee results are in\">\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=Parliamentary+committee+results+are+in+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F03%2Fparliamentary-committee-results-are-in-2%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\/03\/parliamentary-committee-results-are-in-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/253.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"646927\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/parliamentary-committee-results-are-in-2\/253-jpg-86\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/253.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"253.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/253.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/253.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646926\" class=\"content-area-description single-story post-646926 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-enterpriseam tag-house-of-representatives tag-legislation-watch tag-senate 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\/.c51536c4-7f41-43ad-abf9-bf4dc9c72179.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>House com<\/strong><strong>mittee elections results are out:<\/strong> The leadership of many committees in the House of Representatives will look much the same in this new legislative cycle as it did in the previous one, with this week\u2019s elections returning many of the same faces for another term. The pro-government Mostaqbal Watan Party dominated the proceedings, securing leadership of 17 of the 25 committees.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Here\u2019s the lineup o<\/strong><strong>f who\u2019s running business-relevant committees:<\/strong><\/p>\n<ul>\n<li><strong>Economy:<\/strong> Mohamed Soliman, Mostaqbal Watan MP. (Re-elected)<\/li>\n<li><strong>Foreign Affairs:<\/strong> Karim Darwish, Mostaqbal Watan MP. (Re-elected)<\/li>\n<li><strong>Planning and Budgeting: <\/strong>Fakhry El Fiqi, Mostaqbal Watan MP, former IMF advisor and CBE board member. (Re-elected)<\/li>\n<li><strong>Industry:<\/strong> Mohamed Al Sallab, Mostaqbal Watan MP. (Re-elected)<\/li>\n<li><strong>Energy and Environment: <\/strong>Talaat El Sewedy, Mostaqbal Watan MP. (Re-elected)<\/li>\n<li><strong>Housing: <\/strong>Mohamed Attia Al Fayoumi, Mostaqbal Watan MP. (Re-elected)<\/li>\n<li><strong>Tourism and Civil Aviation: <\/strong>Nora Ali, Mostaqbal Watan MP. (Re-elected)<\/li>\n<li><strong>SMEs: <\/strong>Mohamed Kamal Marie, Mostaqbal Watan MP. (Re-elected)<\/li>\n<li><strong>Transport: <\/strong>Alaa Abed, Mostaqbal Watan MP. (Re-elected)<\/li>\n<li><strong>Health:<\/strong> Ashraf Hatem, Mostaqbal Watan MP. (Re-elected)<\/li>\n<li><strong>Education: <\/strong>Sami Hashem, Mostaqbal Watan MP. (Re-elected)<\/li>\n<li><strong>Agriculture and Irrigation: <\/strong>Hisham El Hosary, Mostaqbal Watan MP. (Re-elected)<\/li>\n<li><strong>Constitutional and Legislative Affairs: <\/strong>Ibrahim El Heneidi, independent MP. (Re-elected)<\/li>\n<li><strong>Telecoms and IT:<\/strong> Ahmed Badawi, Mostaqbal Watan MP. (Re-elected)<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** MPs are back to work next week:<\/strong> MPs will reconvene on 7 October, marking the official start of the fifth legislative season.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/senate\/\">Senate<\/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=\"646928\" 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=\"646928\">\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\">KEY ACCOUNTS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/fp7mccann-cairo-expands-partnership-with-mcdonalds-by-securing-its-social-media-accounts\/\">\r\n                            FP7McCann Cairo expands partnership with McDonald\u2019s by securing its social media accounts                        <\/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\/03\/fp7mccann-cairo-expands-partnership-with-mcdonalds-by-securing-its-social-media-accounts\/\" 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\/03\/fp7mccann-cairo-expands-partnership-with-mcdonalds-by-securing-its-social-media-accounts\/')\">\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\/03\/fp7mccann-cairo-expands-partnership-with-mcdonalds-by-securing-its-social-media-accounts\/\">\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=FP7McCann Cairo expands partnership with McDonald\u2019s by securing its social media accounts&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/fp7mccann-cairo-expands-partnership-with-mcdonalds-by-securing-its-social-media-accounts\/\">\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\/03\/fp7mccann-cairo-expands-partnership-with-mcdonalds-by-securing-its-social-media-accounts\/&title=FP7McCann Cairo expands partnership with McDonald\u2019s by securing its social media accounts\">\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=FP7McCann+Cairo+expands+partnership+with+McDonald%E2%80%99s+by+securing+its+social+media+accounts+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F03%2Ffp7mccann-cairo-expands-partnership-with-mcdonalds-by-securing-its-social-media-accounts%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\/03\/fp7mccann-cairo-expands-partnership-with-mcdonalds-by-securing-its-social-media-accounts\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/255.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"646929\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/fp7mccann-cairo-expands-partnership-with-mcdonalds-by-securing-its-social-media-accounts\/255-jpg-49\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/255.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"255.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/255.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/255.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646928\" class=\"content-area-description single-story post-646928 post type-post status-publish format-standard has-post-thumbnail hentry category-key-accounts tag-enterpriseam tag-key-accounts tag-mcdonalds 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\/.5dc9e4c7-61ff-4442-80e9-d339b77080ba.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>McDonald\u2019s looks to FP7McCann for help with its socials: <\/strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/fp7mccann-cairo\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">FP7McCann Cairo<\/a> secured McDonald\u2019s social media account in Egypt, expanding their existing partnership which goes back to 2002, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/174.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The agency will manage both online and offline communications for McDonald\u2019s, in addition to the brand and local store marketing accounts that it already runs. <\/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>The vast majority of McDonald\u2019s restaurants are franchise locations \u2014 and in Egypt every single one of the company\u2019s restaurants is owned and run by its local franchise partner Manfoods. Mansour Group subsidiary Manfoods has over 100 outlets across the country as part of its exclusive franchise that started in 1994 when it opened the fast-food chain\u2019s first restaurants in the country.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cThis expanded role allows us to further integrate our creative strategies across all platforms, ensuring that McDonald\u2019s continues to resonate with its audience in the most impactful way possible,\u201d FP7McCann Cairo Managing Director Sondos Effat said. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/key-accounts\/\">KEY ACCOUNTS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mcdonalds\/\">McDonald\u2019s<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"646930 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"646930\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/646930\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646930\" class=\"content-area-description single-story post-646930 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicContactUs\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2301.jpeg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"646931\" 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=\"646931\">\r\n            \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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/talk-shows-continue-to-discuss-escalating-conflict-between-iran-and-israel\/\">\r\n                            Talk shows continue to discuss escalating conflict between Iran and Israel                        <\/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\/03\/talk-shows-continue-to-discuss-escalating-conflict-between-iran-and-israel\/\" 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\/03\/talk-shows-continue-to-discuss-escalating-conflict-between-iran-and-israel\/')\">\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\/03\/talk-shows-continue-to-discuss-escalating-conflict-between-iran-and-israel\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Talk shows continue to discuss escalating conflict between Iran and Israel&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/talk-shows-continue-to-discuss-escalating-conflict-between-iran-and-israel\/\">\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\/03\/talk-shows-continue-to-discuss-escalating-conflict-between-iran-and-israel\/&title=Talk shows continue to discuss escalating conflict between Iran and Israel\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Talk+shows+continue+to+discuss+escalating+conflict+between+Iran+and+Israel+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F03%2Ftalk-shows-continue-to-discuss-escalating-conflict-between-iran-and-israel%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\/03\/talk-shows-continue-to-discuss-escalating-conflict-between-iran-and-israel\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/250.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"646932\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/talk-shows-continue-to-discuss-escalating-conflict-between-iran-and-israel\/250-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/250.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"250.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/250.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/250.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646931\" class=\"content-area-description single-story post-646931 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam 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\/.9352444f-b389-4690-80b6-86c8e04da729.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Last night\u2019s talk shows continued their coverage of the recent Iranian missile attack on <\/strong><strong>Israel<\/strong>, including possible repercussions and potential Israeli responses. On Tuesday, Iran launched over 200 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>Why hasn\u2019t Israel responded yet? <\/strong>Responding to Iran\u2019s attack is somewhat complicated for Israel, military strategist and commentator Samir Ragheb told Yahduth Fi Masr\u2019s Sherif Amer (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/YahdothFiMasr\/videos\/1288285995665366\/?__cft__[0]=AZVhYgLQCcxc0dJa0TB8VeI132LBIHl4s9BkibbJp7RguaRfSFCh28sJzwGiogqsMcg2Gmt8HzRNTxajpb8O7i1Ighwl-XbmuTjIcdhQ7Zy7i1oxZjSdBieJLxRQZLQJtLbylMSZSISHB3c6XiqN-UEyCqmP2cn6y8WZlknIKk8u5tIxfkNfSqLgP-0zq_YtV9oxK-7gnMmaUTQhj9KNDvAM&__tn__=%2CO%2CP-R\" style=\"\" rel=\"noopener\">watch, runtime: 5:26<\/a>). A strike inside Iran would require flying over Iraqi and Jordanian airspace, Ragheb explained, Israel would need to find a longer alternative route that would likely require a refueling aircraft \u2014 meaning Israel would first need to coordinate with the US.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Iran\u2019s allies are ready to join the war: <\/strong>In response to speculation that other parties \u2014 such as Yemen\u2019s Houthis or armed militias in Iraq \u2014 might join the conflict, Ragheb said that it was very much a possibility (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/YahdothFiMasr\/videos\/544242984727114\/?__cft__[0]=AZVXOhhZEPHuCV1IvVE6YcqbKfZV16DXWHU3voFuL2DECcV1J_5zRRCuzGEH8smJvMfKQGMBDb6aAVRQct5vmiEehBwyY-oHMr0cMY04UBjOzSGJ93vlgnz5E5vjSqfJUgTPbpE9pZ1qMIAPqJYhhNdrSfOaZXYzPg3zJSjkkXKE2CnFGlVgArdAzugCzhcshd6eHE_43AZfxzJ3ILNUKtwq&__tn__=%2CO%2CP-R\" style=\"\" rel=\"noopener\">watch, runtime: 3:44<\/a>). He added that the Houthis are already participating in the war through an attack launched last month in addition to their disruption of navigation in the Red Sea. These actions have had a more significant impact on Israel than Iran\u2019s recent strike, Ragheb said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"646933\" 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=\"646933\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/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\/03\/a-brazilian-logistics-zone-in-sczone-plus-news-from-cib-geyushi\/\">\r\n                            A Brazilian logistics zone in SCZone?                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/a-brazilian-logistics-zone-in-sczone-plus-news-from-cib-geyushi\/\" 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\/03\/a-brazilian-logistics-zone-in-sczone-plus-news-from-cib-geyushi\/')\">\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\/03\/a-brazilian-logistics-zone-in-sczone-plus-news-from-cib-geyushi\/\">\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=A Brazilian logistics zone in SCZone? PLUS: News from CIB, Geyushi&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/a-brazilian-logistics-zone-in-sczone-plus-news-from-cib-geyushi\/\">\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\/03\/a-brazilian-logistics-zone-in-sczone-plus-news-from-cib-geyushi\/&title=A Brazilian logistics zone in SCZone? PLUS: News from CIB, Geyushi\">\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=A+Brazilian+logistics+zone+in+SCZone%3F+PLUS%3A+News+from+CIB%2C+Geyushi+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F03%2Fa-brazilian-logistics-zone-in-sczone-plus-news-from-cib-geyushi%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\/03\/a-brazilian-logistics-zone-in-sczone-plus-news-from-cib-geyushi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/252.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"646934\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/a-brazilian-logistics-zone-in-sczone-plus-news-from-cib-geyushi\/252-jpg-39\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/252.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"252.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/252.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/252.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646933\" class=\"content-area-description single-story post-646933 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-automotive tag-cib tag-debt tag-egypt-brazil-relations tag-enterpriseam tag-international-finance-corporation tag-logistics 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\/.68f16c5e-5c0f-4b13-bc70-8499da759343.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Brazilian investors eye setting up SCZone logistics zone:<\/strong> Seven Brazilian investors are currently conducting studies to establish a logistics zone in the Suez Canal Economic Zone (SCZone), Chief Director of the Arab-Brazilian Chamber of Commerce in Cairo Michael Gamal told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/10\/01\/1830537\" style=\"\" rel=\"noopener\">Al Borsa<\/a>.The zone would act as a hub to import corn, soybeans, sugar, and other products that would then be re-exported to other Arab and African nations. More details should be unveiled at some point in 2025, he added.<\/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> Brazil <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5f33dc20-4e98-4a48-a5d0-fcad4573967e\/%253cmark%253eaton-resources%253c%2Fmark%253e-to-start-producing-gold-in-egypt-in-2025.-plus:-fx-crunch-hits-ezz-steel\" style=\"\" rel=\"noopener\">has been showing interest<\/a> in investing in logistics and green energy projects in the SCzone for some time \u2014 the country has stepped up its interest in the region in general over the last year, exporting more beef and chicken to Egypt and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/16cd9bd4-05f6-4b1f-82fd-76cd31e525c4\/pif-to-pour-usd-15-bn-into%253cmark%253e-brazil%253c%2Fmark%253e%25e2%2580%2599s-green-economy%3F\" style=\"\" rel=\"noopener\">upping its business with Saudi Arabia<\/a>.<\/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\">INVESTMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Geyushi to invest EGP 1 bn in the local market:<\/strong> Egypt\u2019s Geyushi Motors plans to invest EGP 1 bn in its heavy-duty trucks business starting next year, vice chairman Khaled Geyushi told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/10\/02\/1830837\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The investments will focus on increasing the local component ratio in its products and enhancing its manufacturing capabilities. Geyushi exports 80% of its buses, with the remaining 20% sold locally. <\/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>CIB secures USD 150 mn loan from the IFC:<\/strong> CIB signed an agreement with the International Finance Corporation for a USD 150 mn loan facility with a maturity period of ten years, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/202.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The loan is intended to help the lender maintain a capital base that can withstand external influences. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-brazil-relations\/\">Egypt-Brazil relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-finance-corporation\/\">International Finance Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/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=\"646935\" 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=\"646935\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/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\/03\/global-tech-stocks-had-a-good-month-in-september\/\">\r\n                            Global tech stocks had a good month 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\/03\/global-tech-stocks-had-a-good-month-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\/03\/global-tech-stocks-had-a-good-month-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\/03\/global-tech-stocks-had-a-good-month-in-september\/\">\n                    Facebook                    <!-- 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/272.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"646936\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/global-tech-stocks-had-a-good-month-in-september\/272-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/272.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"272.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/272.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/272.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646935\" class=\"content-area-description single-story post-646935 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-iran tag-israel 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\/.4b597588-5d8c-4c09-83c8-11be930f8072.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Tech stocks rode a high in September on Fed rate cuts + AI optimism: <\/strong>Tech equities in the US saw surging market caps last month, supported by the US Federal Reserve\u2019s decision in late September to kick off its monetary easing cycle with a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e7b5699f-0316-4b3b-89eb-80fffff2adc3\/fed-kicks-off-easing-cycle-with-a-bang\" style=\"\" rel=\"noopener\">50 bps interest rate cut<\/a> and continued optimism around developments in AI, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/global-markets-marketcap-2024-10-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. <\/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>Breaking with history:<\/strong> September is typically the worst month for US equity markets, a trend that has been <a target=\"_blank\" href=\"https:\/\/www.carsongroup.com\/insights\/blog\/here-comes-the-worst-month-of-the-year\/\" style=\"\" rel=\"noopener\">largely maintained since 1950<\/a>. Historically speaking, the S&amp;P 500 \u201chas generated an average monthly decline of 1.2% and finished higher only 44.3% of the time dating back to 1928,\u201d <a target=\"_blank\" href=\"https:\/\/www.marketwatch.com\/story\/september-is-historically-the-worst-month-for-u-s-stocks-what-investors-need-to-know-4b5fd927\" style=\"\" rel=\"noopener\">Market Watch<\/a> says, citing Dow Jones Market Data.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How top players fared:<\/strong> Oracle\u2019s market cap rose 21.3% m-o-m at USD 472.2 bn as the company capitalized on growing demand for its AI-powered cloud services, with Meta also up 10% at USD 1.45 tn on the back of product unveilings. Automaker Tesla \u2014 which is <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-07\/transcript-is-tesla-a-car-company-tech-company-or-weird-amalgamation\" style=\"\" rel=\"noopener\">sometimes considered<\/a> as a tech player \u2014 also posted a 22.2% jump in its market cap to USD 834.4 bn, buoyed by record EV sales in China, and plans to roll out its full self-driving software to markets in Europe and China.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> The top five largest companies globally by market capitalization are tech or tech-related firms. Apple is at the top of the league with a market cap of USD 3.54 tn, followed by Microsoft (USD 3.2 tn), Nvidia (USD 3.0 tn), Alphabet (USD 2.05 tn), and Amazon (USD 2.0 tn). Saudi Aramco \u2014 whose USD 1.75 tn market cap places it in the sixth spot \u2014 and Walmart are the only two non-tech companies among the top 10 globally. <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">31,333<\/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\">-1.7% (YTD: +25.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 48.30<\/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 48.44<\/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>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 48.32<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.42<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,044<\/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\">-1.7% (YTD: +0.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,307<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.1% (YTD: -2.8%)<\/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\">4,440<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: +9.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,710<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +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\">8,291<\/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: +7.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,963<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +9.8%)<\/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>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 74.63<\/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\">+1.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2.89<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4%<\/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 2,681<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4%<\/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 60,874<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +43.8%)<\/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 fell 1.7% at yesterday\u2019s close<\/strong> on turnover of EGP 4.3 bn (7.6% above the 90-day average). Local investors were net sellers. The index is up 25.9% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Elsewedy Electric (+6.5%), Palm Hills Developments (+2.7%), and AMOC (+2.5%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Alexandria Container &amp; Cargo Handling (-4.7%), GB Corp (-4.6%), and E-finance (-4.3%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/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<section id=\"646937\" 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=\"646937\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/ahmed-sabbour-chairman-md-of-al-ahly-sabbour\/\">\r\n                            Ahmed Sabbour, Chairman &amp; MD of Al Ahly Sabbour                        <\/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\/03\/ahmed-sabbour-chairman-md-of-al-ahly-sabbour\/\" 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\/03\/ahmed-sabbour-chairman-md-of-al-ahly-sabbour\/')\">\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\/03\/ahmed-sabbour-chairman-md-of-al-ahly-sabbour\/\">\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=Ahmed Sabbour, Chairman &#038; MD of Al Ahly Sabbour&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/ahmed-sabbour-chairman-md-of-al-ahly-sabbour\/\">\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\/03\/ahmed-sabbour-chairman-md-of-al-ahly-sabbour\/&title=Ahmed Sabbour, Chairman &#038; MD of Al Ahly Sabbour\">\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=Ahmed+Sabbour%2C+Chairman+%26%23038%3B+MD+of+Al+Ahly+Sabbour+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F03%2Fahmed-sabbour-chairman-md-of-al-ahly-sabbour%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\/03\/ahmed-sabbour-chairman-md-of-al-ahly-sabbour\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/248.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"646938\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/ahmed-sabbour-chairman-md-of-al-ahly-sabbour\/248-jpg-33\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/248.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"248.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/248.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/248.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646937\" class=\"content-area-description single-story post-646937 post type-post status-publish format-standard has-post-thumbnail hentry category-my-morning-routine tag-ahmed-sabbour tag-al-ahly-sabbour tag-enterpriseam tag-my-morning-routine 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\/.1ec71792-ae93-4f6e-aae4-e41810d18867.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Ahmed Sabbour, Chairman & MD of Al Ahly Sabbour:<\/strong> Each week, My Morning Routine looks at how a successful member of the community starts their day \u2014 and then throws in a couple of random business questions just for fun. Speaking to us this week is Chairman and Managing Director of Al Ahly Sabbour Ahmed Sabbour (<a target=\"_blank\" href=\"https:\/\/eg.linkedin.com\/in\/ahmed-sabbour-90b81754\" style=\"\" rel=\"noopener\">LinkedIn<\/a>). Edited excerpts from our conversation:<\/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>I\u2019m Ahmed Sabbour <\/strong>and I am an Egyptian citizen who is deeply in love with his country and its people. I\u2019m simply a tradesman and a laborer in the real estate sector. I am a 60 -year-old married man with six children \u2014 four girls and two boys. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As the chairman of several Al Ahly Sabbour companies and the managing director of <\/strong><strong>others<\/strong>, my focus is on cultivating the right environment for our team to thrive. Whether it is identifying new business opportunities, building relationships for future projects or setting organizational goals, my daily activities revolve around helping create a cohesive vision for all of Sabbour\u2019s companies. I recognize my role as a specialized engineer, and I believe it\u2019s essential to empower our marketers, salespeople, and other professionals at Sabbour to excel in their own areas of expertise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sabbour\u2019s origins are rooted in family.<\/strong> We started as a boutique real estate company with initial capital of EGP 62.5k, which was founded by four partners \u2014 my father as chairman, myself as the CEO along with my mother and brother. Our firm quickly grew bigger, becoming Al Ahly Sabbour, through a partnership with the National Bank of Egypt (NBE) \u2014 whom we have a 30-year standing relationship with. With NBE, we increased our paid capital to EGP 5 mn. Today, Al Ahly Sabbour\u2019s capital stands at EGP 300 mn and we plan to increase it to EGP 550 mn by the end of the year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s real estate business is a tough one <\/strong>\u2014 it's difficult to keep up with the constant industry changes and economic forecasts for the long term. If I were in the fashion industry for example, my plans would be relatively short-term as the product I'm selling takes three months or so to sell, but working with land and properties requires a more expansive vision, demanding that we factor in economic expectations and potential shifts five years down the line.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Green construction has taken the lead as the leading trend in the industry<\/strong>, with more companies looking to implement sustainable construction practices. Entertainment and catering to the youth are two other growing trends in Egypt\u2019s real estate market. At Sabbour, we recognise we can no longer simply build homes and gardens, but we now need to provide varying entertainment services to create a completely integrated lifestyle. As the youth now represent some 70% of Egypt\u2019s population, catering for them without ignoring other generations has become a growing focus for the industry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The first two hours of my day are for reading.<\/strong> I wake up somewhere between 7 and 7:30am, and that\u2019s when I check the day\u2019s EnterpriseAM Egypt issue, go through my emails, and my WhatsApp \u2014 which I now consider an email as well. If there is a report or something in the press I am looking to read, that\u2019s when I would do that. My reading time is sometimes cut to an hour and half, to make time for a 30-minute workout. After work, my time is dedicated to my family, and I try to always keep up with my friends, especially my schoolmates. If I get the chance, I might have an hour or two of me-time during the week \u2014 that\u2019s when I'd listen to some music. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My workday consists of meetings with all the company\u2019s stakeholders.<\/strong> I have internal meetings with colleagues, and external meetings with clients, designers, architects, and government officials which usually go on until 7pm. Crisis management is also a part of my day, with emergency meetings often coming up. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I navigate my daily to-do\u2019s by setting clear priorities.<\/strong> Every morning, I map out my daily priorities on a piece of paper. This simple practice allows me to order my tasks by importance, helping me set my own goals while effectively delegating responsibilities to my colleagues.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Making time for worship is the one constant in my day that will never change.<\/strong> Praying everyday and reading five pages of the Quran will always be on my daily agenda. I also enjoy doing small acts of kindness, whether for a friend or a stranger. At 60, I am increasingly focused on integrating these practices in my life. I strongly believe in the importance of contributing to job creation and charitable efforts \u2014 which are high on my personal agenda moving forward. I am also looking to allocate more time for my mother, wife, and kids. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Frankly, I am bad at work-life balance. <\/strong>Despite emphasizing the importance of work-life balance to my colleagues, I find myself not practicing what I preach. Moving forward, I want to make time for the four most important pillars in my life beyond work: family, friends, my relationship with God, and myself. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Social activities are my go-to method of switching off <\/strong>\u2014 I enjoy dinner outings with friends, or spending time at sports clubs. My wife and I also really enjoy watching movies and TV shows together, so as a night owl I'll be up until 1-2am watching classic Egyptian movies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other than old movies, I enjoy reading war books, like <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/work\/quotes\/3200649\" style=\"\" rel=\"noopener\">The Art of War<\/a><\/strong><strong> by Sun Tzu. <\/strong>They not only get me out of the work mood, but also help me be more strategic and manage my business plans. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The best piece of advice I ever received came from my father, who was my lifelong <\/strong><strong>mentor.<\/strong> He encouraged me to read books on war to understand business strategy, but most importantly, he taught me to keep learning everyday of my life. He also shared another piece of advice that stuck with me \u2014 one he had learned from his peer \u2014 \u201cit\u2019s important for your colleagues to worry about you rather than fear you.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ahmed-sabbour\/\">Ahmed Sabbour<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-ahly-sabbour\/\">Al Ahly Sabbour<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/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=\"646939\" 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\/03\/646939\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-646939\" class=\"content-area-description single-story post-646939 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 October (Thursday-Saturday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/evs-electrify.egyreg.com\/\" style=\"\">EVs Electricity Egypt Expo and Conference<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-17 October (Sunday-Thursday): Cairo Water Week, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cairowaterweek.eg\/\" style=\"\">Water and Climate: Building Resilient Communities<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17 October (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20-22 October (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/moc-egypt.com\/\" style=\"\">Mediterranean Offshore Conference (MOC)<\/a><\/span><span style=\"font-weight:400;\">, Alexandria, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21-25 October (Monday-Friday): The second iteration of the Global Forum for Population, Health, and Human Development.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-27 October (Monday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.imfconnect.org\/content\/imf\/en\/annual-meetings\/FutureMeetings.html\" style=\"\">The World Bank and IMF annual meetings<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-8 November (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/wuf.unhabitat.org\/\" style=\"\">World Urban Forum<\/a><\/span><span>, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-15 November (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0m61FMcuP2Qn6d36We1ozK1CgZEF6KGqaen15UMX7EkfRovB1cuxZ1gFtbqZNFvQ5l\" style=\"\">Arab African Investment and International Cooperation Summit<\/a><\/span><span style=\"font-weight:400;\">, Aswan, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypt-energy.com\/en\/home.html\" style=\"\">Egypt Energy Show<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 November (Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/almalnews.com\/premium\/%d9%85%d8%b1%d9%81%d9%82-%d8%a7%d9%84%d9%83%d9%87%d8%b1%d8%a8%d8%a7%d8%a1-%d9%85%d8%af-%d9%81%d8%aa%d8%b1%d8%a9-%d8%aa%d9%84%d9%82%d9%89-%d8%b7%d9%84%d8%a8%d8%a7%d8%aa-%d8%a7%d9%84%d9%85\/\" style=\"\">Deadline<\/a><\/span><span> to apply for renewable energy projects under the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5fe8f4bb-3a22-40ac-a502-6f18fb3420db\/\" style=\"\">peer-to-peer (P2P) system<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2H 2024: Gov\u2019t to launch the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8f7fd9b9-a159-4b31-b974-f809d55f55d9\/egyptian-telecom-providers-suspend-e-wallet-fx-payments\" style=\"\">Cairo Ring Road BRT buses<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3Q 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid04Z7JWbGbYGqFTr8kF2XNgc5Dq2cUR3hn25JDryhDjLnPJkYgaKaqbwzQr6A4QgB2l\" style=\"\">Egyptian-Armenian Joint Committee.<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>First week of November: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02ssjPZtZgtyuDjtqu6kXr1MpWTPFUnnFbPA8etz9LtXPrcjGgGnArn6sg1ryr4jEXl\" style=\"\">Egypt-Turkey high-level trade consultation mechanism.<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>November 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LLPJRjsu6SZLwtRHuLmCQxoAZB3xaXVXH8aYkMSEH3ae4aW6JCZaPe5h5u9nKmcRl\" style=\"\">Egypt to host<\/a><\/span><span style=\"font-weight:400;\"> the World Urban Forum (WUF12).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2024: The launch of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sis.gov.eg\/Story\/192175\/Trial-Operation-of-the-Sokhna-El-Alamein-Matrouh-High-Speed-Train-Starts-by-the-End-of-this-Year?lang=en-us\" style=\"\">high-speed train<\/a><\/span><span style=\"font-weight:400;\"> line linking Ain Sokhna with Al Alamein City.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">May 2025: Egyptian Exporters Association (Expolink) exhibition, Italy.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">July 2025: The first operational trail of Egypt-KSA electricity interconnection line.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2Q 2025: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad18b775-3e22-4e6b-b4fc-9dd30f4b85ad\/abu-dhabi-ports-to-build-and-run%253cmark%253e-safaga-terminal%253c%2Fmark%253e,-cruise-ship-infrastructure\" style=\"\">Safaga Terminal 2<\/a><\/span><span> to start operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20 January-7 February: Egypt to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f9a5a94-cc1c-4fc1-b8c6-7c02d15cae3b\/ramadan-kareem\" style=\"\">host the African Games<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2027: Trial operations at the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52aa0e65-5b6f-4c84-aa49-70ac4152bb87\" style=\"\">Dabaa nuclear power plant<\/a><\/span><span style=\"font-weight:400;\"> expected to take place.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Surplus shrinks | Looking into the real estate market | Cement production cut| Maait at the IMF?<\/p>\n","protected":false},"featured_media":646904,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-646903","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"c2f80bd3-1af0-4023-9aaf-8a06fbfd190f","teaser":"Surplus shrinks | Looking into the real estate market | Cement production cut| Maait at the IMF?","photo_url":"https:\/\/ent.news\/2024\/10\/281.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>Google will start paying Egyptian creators in local currency - 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\/google-will-start-paying-egyptian-creators-in-local-currency\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Google will start paying Egyptian creators in local currency\" \/>\n<meta property=\"og:description\" content=\"Surplus shrinks | Looking into the real estate market | Cement production cut| Maait at the IMF?\" \/>\n<meta property=\"og:url\" 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