{"id":653313,"date":"2024-10-15T00:00:00","date_gmt":"2024-10-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=653313"},"modified":"2025-12-18T00:35:23","modified_gmt":"2025-12-18T00:35:23","slug":"foreign-debt-fell-to-usd-153-bn-at-the-end-of-june","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/foreign-debt-fell-to-usd-153-bn-at-the-end-of-june\/","title":{"rendered":"Foreign debt fell to USD 153 bn at the end of June"},"content":{"rendered":"<section id=\"653315\" 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=\"653315\">\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\/15\/madbouly-promises-important-privatization-news-soon\/\">\r\n                            Madbouly promises \u201cimportant\u201d privatization news soon                        <\/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\/15\/madbouly-promises-important-privatization-news-soon\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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data-attachment-id=\"653316\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/madbouly-promises-important-privatization-news-soon\/1161-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1161.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1161.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1161.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1161.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653315\" class=\"content-area-description single-story post-653315 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-moustafa-madbouly-2 tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.a55ed986-d666-4d69-acd6-9aaccf5be4f0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Go<\/strong><strong>od morning, all, and a<\/strong><strong> very happy hump day. <\/strong>The news well this morning is giving us a lot to look forward to in the weeks to come \u2014 fresh privatization news, regulations from the FRA, and President Abdel Fattah El Sisi\u2019s upcoming visit to Russia to attend the Brics summit. <\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- Brace for \u201cimportant\u201d privatization news: <\/strong>The government will soon announce \u201cimportant news\u201d regarding the privatization of a number of banks and airports, Prime Minister Moustafa Madbouly <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid036Xs3yYNdRAnHh44ssbmpEDysBJNpmVAgS4xpvUEq8VxGFvFwZ6sDYRJ5UXsgyPNil\" style=\"\" rel=\"noopener\">said<\/a> yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The government is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44a65695-b89d-4d43-8b17-7609a798c7a0\/kouchouk-holds-his-first-presser,-giving-us-a-glance-at-what%25e2%2580%2599s-to-come\" style=\"\" rel=\"noopener\">looking to raise<\/a> USD 2-2.5 bn through the privatization of state-owned companies in FY 2024-2025. The state\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8dfe000b-b619-4de4-a6c8-0793a206df4d\/state-exits-egyptian-microfinance-player-tamweely-after-egp-2.8-bn-buyout-by-int%25e2%2580%2599l-consortium\" style=\"\" rel=\"noopener\">EGP 2.8 bn exit from Tamweely<\/a> last month is the first big privatization agreement to have gone through since the new targets were announced.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A number of banks have been earmarked for privatization<\/strong>, including Banque du Caire, whose IPO has been repeatedly delayed for years due to poor market conditions, Arab African International Bank (AAIB) \u2014 whose ownership is evenly split between the Central Bank of Egypt and the Kuwaiti sovereign wealth fund \u2014 and United Bank, which should <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/40b1d4bd-9030-4e7f-8543-b52679d46ab5\/cbe-to-sell-a-stake-in%253cmark%253e-united-bank%253c%2Fmark%253e-in-ipo-by-1-q-2025\" style=\"\" rel=\"noopener\">make its EGX debut<\/a> early next year. Then there\u2019s Alexbank, which the state is looking to sell its remaining 20% stake in \u2014 last we heard, the government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f445d680-f50d-40dc-b03d-cc79e70a09ac\/is-the-government-getting-ready-to-sell-another-10%2525-stake-in-telecom-egypt%3F\" style=\"\" rel=\"noopener\">has resumed negotiations<\/a> for the sale. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The privatization of airports has been on the agenda for some time: <\/strong>The Madbouly government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/39dc4a75-8ed5-46ed-a296-30a40cf2f166\" style=\"\" rel=\"noopener\">unveiled plans<\/a> to onboard private sector players to take over the management and operation of all the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e94bb97-4820-4349-bc3a-d65afa8cdcb1\/egypt-looks-towards-airport-expansion,-smart-policy,-and-the-private-sector-to-support-its-ambitious-aviation-goals\" style=\"\" rel=\"noopener\">airports in the country<\/a> last year. The move aims to improve services and increase revenues collected by state coffers. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- FRA to roll out regs for new capital requirement for ins. companies: <\/strong>The Financial Regulatory Authority (FRA) will within weeks issue regulations implementing the capital requirements for ins. companies put forth by the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fce0507f-e9c4-4195-a36f-3bf45c30e82a\/egypt%25e2%2580%2599s-el-sisi-ratifies-unified-ins.-law\" style=\"\" rel=\"noopener\">Unified Ins. Law<\/a>, FRA boss Mohamed Farid said during the African Reins. Forum, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d9%85%d8%ad%d9%85%d8%af-%d9%81%d8%b1%d9%8a%d8%af-%d8%a5%d8%b5%d8%af%d8%a7%d8%b1-%d9%82%d8%b1%d8%a7%d8%b1%d8%a7%d8%aa-%d8%aa%d8%ad%d8%af%d9%8a%d8%af-%d8%b1%d8%a4%d9%88%d8%b3-%d8%a3%d9%85%d9%88%d8%a7\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The law \u2014 ratified by President Abdel Fattah El Sisi in July \u2014 requires ins. companies to have a minimum issued and paid-up capital of EGP 250 mn or its equivalent in FX, up from EGP 60 mn. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- What do NBFIs want from the new financial solvency standards?<\/strong> The FRA has started taking in suggestions from NBFS players regarding the implementation of Basel III financial solvency standards, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/igx5VnirMaxB3PxS\/\" style=\"\" rel=\"noopener\">statement<\/a>. Sector players can send in their suggestions through an <a target=\"_blank\" href=\"https:\/\/fra.gov.eg\/company-suggestions-2024\/\" style=\"\" rel=\"noopener\">online form<\/a> on the authority\u2019s website. Companies have until the end of October to submit inquiries or suggestions.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p class=\"tag-border-left\">PSA- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>FROM THE DEPT. OF VERY GOOD NEWS- Canadians will once again be able to <\/strong><strong>get visas on arrival starting in December: <\/strong>Egypt is waiving the requirement that Canadian citizens apply in advance for tourism visas starting 1 December, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0An8jhmTdv74p9GR3DmPNMnwnuw9cZhTnXdzagUk2qsbN7vpjAeX8BebrEWy5Qi6Ul\" style=\"\" rel=\"noopener\">statement<\/a> from the Foreign Ministry. Canadians will also once again have the option to apply for an e-visa or to simply buy a visa on arrival at approved ports of entry including Cairo International Airport. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Since October of last year, Canadians traveling to Egypt have no longer <a target=\"_blank\" href=\"https:\/\/sis.gov.eg\/Story\/185530\/Egypt-to-apply-new-entry-visa-measures-for-Canadians-starting-October?lang=en-us\" style=\"\" rel=\"noopener\">been able<\/a> to obtain a visa on arrival and have instead had to apply for one via an embassy or consulate abroad before traveling. Instead of the USD 35 arrival visa previously, Canadians had to dish out USD 150 for a prior-arrival visa, curbing tourism flows from the North American market. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is particularly good news for the hundreds of thousands of Canadians of Egyptian <\/strong><strong>descent living abroad<\/strong> \u2014 many of whom do not have Egyptian passports. Families will now be able to visit and catch important life events including weddings and funerals on short notice.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>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>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a little cooler in Alexandria<\/strong>, with a high of 29\u00b0C and a low of 21\u00b0C.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p>\n<p class=\"tag-border-left\">HAPPENING THIS WEEK- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- GEM to launch partial trial operations tomorrow ahead of grand opening<\/strong>, Prime Minister Moustafa Madbouly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/647550cc-d91a-4aaf-b19c-179e0363316a\/russia-wants-to-de-dollarize-brics\" style=\"\" rel=\"noopener\">said last week<\/a>. The initial phase will see the museum\u2019s main hall opened, with other sections to follow in a phased rollout ahead of a grand official inauguration.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- It\u2019s interest rate decision time: <\/strong>The Central Bank of Egypt\u2019s Monetary Policy Committee will meet this Thursday to decide on our interest rate trajectory. Analysts and economists we surveyed for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08a7d214-f3c7-479d-b02a-511da7f136c3\/egypt%25e2%2580%2599s-central-bank-expected-to-keep-interest-rates-unchanged-when-it-meets-on-thursday\" style=\"\" rel=\"noopener\">our<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08a7d214-f3c7-479d-b02a-511da7f136c3\/egypt%25e2%2580%2599s-central-bank-expected-to-keep-interest-rates-unchanged-when-it-meets-on-thursday\" style=\"\" rel=\"noopener\">EnterpriseAM poll<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08a7d214-f3c7-479d-b02a-511da7f136c3\/egypt%25e2%2580%2599s-central-bank-expected-to-keep-interest-rates-unchanged-when-it-meets-on-thursday\" style=\"\" rel=\"noopener\"><\/a> see the MPC holding rates steady as the central bank works to prioritize controlling inflation over any monetary policy easing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An expert opinion: <\/strong>\u201cOur view remains that the CBE will hold the rate in the 17 October meeting,\u201d Fitch Solutions' director of MENA country risk Ramona Moubarak told us, pointing to rising inflation and geopolitical risks. \u201cThere is a risk of a cut this year, closer to the end of the year, as base effects in February 2025 will push inflation below 20%,\u201d she said.<\/p>\n<p class=\"tag-border-left\">HAPPENING NEXT WEEK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>#1- El Sisi is heading to Russia to attend the Brics summit<\/strong>, being held in Kazan from 22 to 24 October, <a target=\"_blank\" href=\"https:\/\/www.cairo24.com\/2096382\" style=\"\" rel=\"noopener\">Al Qahera News<\/a> reports, citing Russian Ambassador to Cairo Georgiy Borisenk. During his time in Russia, President Abdel Fattah El Sisi is expected to meet his Russian counterpart Vladimir Putin to discuss key issues related to the Brics members and Egyptian-Russian relations.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- PHDC\u201924 kicks off next week:<\/strong> The second iteration of the <a target=\"_blank\" href=\"https:\/\/www.globalphdc.com\/\" style=\"\" rel=\"noopener\">Global Congress on Population,<\/a><a target=\"_blank\" href=\"https:\/\/www.globalphdc.com\/\" style=\"\" rel=\"noopener\">Health, and Human Development (PHDC\u201924)<\/a> is set to run from 21-25 October at the St. Regis Convention Center in the new capital. The event will focus on human development as a cornerstone for sustainable growth, with themes including universal health coverage, sustainable livelihoods, and climate resilience. Top officials, NGOs, private sector representatives, and researchers from around the world will attend the five-day event to discuss solutions to key global challenges in population, health, and development.<\/p>\n<p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>Cairo is hosting the UN\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/wuf.unhabitat.org\/wuf12\" style=\"\" rel=\"noopener\">World Urban Forum<\/a><\/strong><strong> from 4-8 November<\/strong>, which will focus on \u201clocalizing the sustainable development goals\u201d under the theme It All Starts at Home: Local Actions for Sustainable Cities and Communities. It will tackle issues including unaffordable housing, living costs, climate change, and current conflicts. You can register on the event\u2019s official <a target=\"_blank\" href=\"https:\/\/events.unhabitat.org\/\" style=\"\" rel=\"noopener\">website<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who will be there? <\/strong>The forum is expected to draw around 20k participants, including 14k from 179 countries, Prime Minister Moustafa Madbouly <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0fgcohgkqUpXCVDnuoqVRjDDNwQ3yGRYpo4yj9ngPfawYPP6u93PbGvrMdAcLbc5cl\" style=\"\" rel=\"noopener\">said<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ENTERPRISEAM IS LOOKING FOR SMART, TALENTED PEOPLE of al<\/strong><strong>l backgrounds to help us build some very cool new things.<\/strong> EnterpriseAM \u2014 the essential morning read on all the important news shaping business and the economy in Egypt, GCC, and the wider region \u2014 is looking for writers, reporters, and editors to help us build out new publications.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>NEVER WORKED IN A NEWSROOM BEFORE?<\/strong> We have the EnterpriseAM Business Writing Development Program. Whether you are a recent graduate, an industry vet, or looking to switch careers, the EnterpriseAM Business Writing Development Program will give you the tools you need to tell the most important stories to our audience of C-suite officials, government ministers, diplomats, financiers, investors, and entrepreneurs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not an internship program \u2014 a career: <\/strong>The three-month program will see full-time, paid participants take part in workshops and lectures from veteran business journalists on subject matter knowledge, while also working on constructing and filing EnterpriseAM stories that will run on any of our publications. Those who have successfully completed the program, will then be given long-term job offers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Apply directly to jobs@enterprisemea.com and mention \u201cwriting development program\u201d<\/strong> in your subject line.<\/p>\n<p class=\"tag-border-left\"> THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a busier-than-usual Tuesday in the international press<\/strong>, so let\u2019s jump right in with no further preamble:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Canada expelled five Indian diplomats (including New Delhi\u2019s high commissioner to <\/strong><strong>Ottawa), prompting India to PNG six Canadians just hours later <\/strong>as a diplomatic rift between the two deepend. Canada\u2019s soon-to-depart charge d'affaires in New Delhi said \u201cCanada has provided credible, irrefutable evidence of ties between agents of the government of India and a murder of a Canadian citizen on Canadian soil.\u201d The story leads front pages on both sides of the Atlantic (<a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/10\/14\/world\/canada\/india-canada-diplomats.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/7280dc0c-51bf-45cc-a277-7f4a1d87c599\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india-says-canadas-allegations-against-its-diplomats-preposterous-2024-10-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/clyle3py4nko\" style=\"\" rel=\"noopener\">BBC<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Further reading: <\/strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b5d91bce-4e36-427a-8fbd-00764bfa3460\" style=\"\" rel=\"noopener\">How geopolitics caught up with Canada<\/a> in the FT.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#2- The price of oil dipped nearly 3% overnight after a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2024\/10\/14\/israel-iran-strike-nuclear-oil-military\/\" style=\"\" rel=\"noopener\">Washington Post<\/a><\/strong><strong> report that Israel <\/strong><strong>will not target Iran\u2019s oil infrastructure <\/strong>in retaliation for Tehran\u2019s 1 October missile strike. Benjamin Netanyahu is said to have told the White House Israel will attack only \u201cmilitary targets.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Israel killed at least 21 people in an airstrike <\/strong>on northern Lebanon, <a target=\"_blank\" href=\"http:\/\/v\" style=\"\" rel=\"noopener\">BBC<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Britain is prioritizing trade talks with GCC countries and India<\/strong>, the UK\u2019s Business and Trade minister <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/10\/14\/uk-trade-deals-with-india-gulf-are-the-priority-business-minister.html\" style=\"\" rel=\"noopener\">said yesterday<\/a>. Talks between Britain and the GCC countries are set to resume next week, he said. Reynolds was in our part of the world last month to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7f69063b-1a2a-4cf6-b010-bd465a9e2e29\/\" style=\"\" rel=\"noopener\">kickstart the talks<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- And the Nobel goes to\u2026 <\/strong>Three researchers who have focused on how colonial legacies impacted the relative prosperity of colonized countries shared the 2024 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. \u201cTheir research also indicates that more economically inclusive and politically democratic systems prove more conducive to technological innovation and long-run growth,\u201d <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/128ef2f6-1343-4e56-be51-8306a44c22c8\" style=\"\" rel=\"noopener\">the FT<\/a> noted. Check out the original announcement <a target=\"_blank\" href=\"https:\/\/www.nobelprize.org\/prizes\/economic-sciences\/2024\/press-release\/\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OTHER NEWS worth knowing about on this busy morning:<\/strong><\/p>\n<ul>\n<li><strong>Google has ordered up to seven so-called \u201csmall modular\u201d nuclear reactors<\/strong> to fire up its data centers as part of its AI growth plan. It\u2019s thought to be the <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/artificial-intelligence\/google-buy-power-small-modular-nuclear-reactor-company-kairos-ai-needs-2024-10-14\/\" style=\"\" rel=\"noopener\">first-ever order for small modulars<\/a> placed by a corporation.<\/li>\n<li><strong>The latest in the US election:<\/strong> The Donald and Kamala Harris were in Pennsylvania overnight (it\u2019s a key battleground state) and Harris has agreed to a sitdown with Fox News. There are 20 days left until Americans go to the polls.<\/li>\n<li><strong>Did Elon fake part of his March of the Droids? <\/strong>\u201cTesla used humans to remotely control some capabilities of its Optimus robot prototypes at a recent event designed to generate investor enthusiasm for forthcoming products,\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-14\/tesla-s-optimus-robots-were-remotely-operated-at-cybercab-event\" style=\"\" rel=\"noopener\">Bloomberg<\/a> writes. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/239.jpg?ssl=1\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> EnterpriseAM\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We look at how Egypt can play a key role in the maritime industry\u2019s decarbonization.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moustafa-madbouly-2\/\">Moustafa Madbouly.<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653317 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"653317\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/653317\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653317\" class=\"content-area-description single-story post-653317 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/386.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Somabay<\/span><span style=\"\">, every reason to fall in love.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653318\" 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=\"653318\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/egypts-foreign-debt-fell-to-usd-153-bn-at-the-end-of-june\/\">\r\n                            Egypt\u2019s foreign debt fell to USD 153 bn at the end of June                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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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=Egypt%E2%80%99s+foreign+debt+fell+to+USD+153+bn+at+the+end+of+June+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F15%2Fegypts-foreign-debt-fell-to-usd-153-bn-at-the-end-of-june%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\/15\/egypts-foreign-debt-fell-to-usd-153-bn-at-the-end-of-june\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1150.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653319\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/egypts-foreign-debt-fell-to-usd-153-bn-at-the-end-of-june\/1150-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1150.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1150.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1150.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1150.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653318\" class=\"content-area-description single-story post-653318 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-central-bank-of-egypt tag-debt tag-economy tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.1e7910e0-72ff-4da8-a383-c0258ef1a523.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Foreign debt inches down during 2H FY 2023-2024: <\/strong>Egypt\u2019s foreign debt sat at USD 152.9 bn during the end of the last fiscal year, falling some USD 15.1 bn \u2014 almost 9% \u2014 compared to the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08635509-14e7-47aa-a1f3-0c9d54bc0dd0\/egypt%25e2%2580%2599s-foreign-debt-rose-usd-3.3-bn-in-1h-fy-2023-24\" style=\"\" rel=\"noopener\">USD 168 bn<\/a> recorded at the end of first half of the fiscal year, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1137.JPG\" style=\"\" rel=\"noopener\">central bank data<\/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>A continuous downtrend: <\/strong>Egypt\u2019s external debt dropped to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bd62e06e-66fe-4707-8f94-6c6f8ab1fe41\/egypt%25e2%2580%2599s-external-debt-fell-8%2525-between-december-and-may\" style=\"\" rel=\"noopener\">USD 153.9 bn at<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bd62e06e-66fe-4707-8f94-6c6f8ab1fe41\/egypt%25e2%2580%2599s-external-debt-fell-8%2525-between-december-and-may\" style=\"\" rel=\"noopener\">the end of May<\/a>, down by USD 14.2 bn \u2014 or 8.4% \u2014 from its level at the end of December 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong> Medium- and long-term debt accounted for some 83% of our total foreign debt, sitting at USD 126.9 bn, while short-term debt made up about 17%, reaching some USD 26 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bigger picture: <\/strong>External debt fell USD 11.8 bn during FY 2023-2024 from the USD 164.7 bn recorded at the end of the fiscal year 2022-2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Thanks to the Ras El Hekma agreement<\/strong>, which helped pave the way for the central bank to float the EGP, which triggered a resurgence of FX inflows in debt investment and remittances from Egyptians abroad. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s external debt has quadrupled over the past decade,<\/strong> reaching a record high of USD 168 bn at the end of 2Q of the fiscal year 2023-2024 due to increased borrowing.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653320\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" 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      <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-eoaqrv3\" data-v=\"4\" data-block-id=\"eoaqrv3\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-eoaqrv3-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-eoaqrv3-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button 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         class=\"\r\n                story-section            \"\r\n            id=\"653321\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/rabbit-mobility-closes-usd-1-3-mn-round\/\">\r\n                            Egyptian cleantech transport startup Rabbit Mobility closes USD 1.3 mn round                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n      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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1136.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653322\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/rabbit-mobility-closes-usd-1-3-mn-round\/1136-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1136.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1136.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1136.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1136.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653321\" class=\"content-area-description single-story post-653321 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam tag-rabbit-mobility tag-startup-watch tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.9c3f429b-8581-452d-b785-2d888f1feea4.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Rabbit Mobility closes USD 1.3 mn round: <\/strong>E-scooter startup <a target=\"_blank\" href=\"https:\/\/rabbit-app.com\/\" style=\"\" rel=\"noopener\">Rabbit Mobility<\/a> raised USD 1.3 mn in a new investment round led by VC firm <a target=\"_blank\" href=\"https:\/\/500.co\/\" style=\"\" rel=\"noopener\">500 Global<\/a> and <a target=\"_blank\" href=\"https:\/\/untapped-global.com\/\" style=\"\" rel=\"noopener\">Untapped Global<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1092.pdf\" style=\"\" rel=\"noopener\">press release (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1092.pdf\" style=\"\" rel=\"noopener\">pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1092.pdf\" style=\"\" rel=\"noopener\">)<\/a>. The round also saw participation from a group of angel investors and sustainable mobility experts. <\/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>Where is the money going? <\/strong>The funds will \u201cfuel Rabbit's rapid growth and expansion plans across Egypt and other North African markets,\u201d the release read. The funds will also help the company expand its fleet of electric vehicles, enhance user experience, and make micromobility more accessible locally. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rabbit is heading to Morocco: <\/strong>Rabbit plans to deploy its first fleet of light EVs in Morocco next year, cofounder and CEO Kamal ElSoueni told EnterpriseAM. \u201cWe\u2019re interested in expanding to other North African markets starting with Morocco. We believe the Moroccan market is similar to the Egyptian market where cities have high population densities, high traffic congestions, and are not exposed to severe weather,\u201d he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rabbit Mobility?<\/strong> Rabbit Mobility is a cleantech transport company and a micromobility platform that offers day rentals of its fleet of electric vehicles \u2014 scooters, bikes, and others. Since it kicked off operations in 2019, the startup saw over 450k users complete over 1 mn rides. The startup expects to achieve profitability by year end. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>READ MORE- <\/strong>ElSoueni was our <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/291d5b9f-7e96-4384-a54e-97421bdfec20\/meet-our-founder-of-the-week:%253cmark%253e-rabbit-mobility%253c%2Fmark%253e%25e2%2580%2599s-kamal-elsoueni\" style=\"\" rel=\"noopener\">Founder of the Week<\/a> back in 2022, where he spoke to us about his academic and professional background and gave us an inside scoop on how Rabbit operates. <\/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\/rabbit-mobility\/\">Rabbit Mobility<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653323 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=\"653323\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/653323\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653323\" class=\"content-area-description single-story post-653323 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\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/295.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=\"653324\" 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=\"653324\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/efg-hermes-corp-solutions-issues-egp-450-mn-in-debt\/\">\r\n                            EFG Hermes Corp-Solutions issues EGP 450 mn in debt                        <\/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\/15\/efg-hermes-corp-solutions-issues-egp-450-mn-in-debt\/\" 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\/15\/efg-hermes-corp-solutions-issues-egp-450-mn-in-debt\/')\">\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\/15\/efg-hermes-corp-solutions-issues-egp-450-mn-in-debt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=EFG Hermes Corp-Solutions issues EGP 450 mn in debt&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/efg-hermes-corp-solutions-issues-egp-450-mn-in-debt\/\">\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\/15\/efg-hermes-corp-solutions-issues-egp-450-mn-in-debt\/&title=EFG Hermes Corp-Solutions issues EGP 450 mn in debt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=EFG+Hermes+Corp-Solutions+issues+EGP+450+mn+in+debt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F15%2Fefg-hermes-corp-solutions-issues-egp-450-mn-in-debt%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\/15\/efg-hermes-corp-solutions-issues-egp-450-mn-in-debt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/451.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653325\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/efg-hermes-corp-solutions-issues-egp-450-mn-in-debt\/451-jpg-28\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/451.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"451.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/451.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/451.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653324\" class=\"content-area-description single-story post-653324 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt tag-debt-watch tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.54aeaafb-3639-4184-9791-cad13ea3d3b0.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>EFG Hermes Corp-Solutions has issued EGP 450 mn in debt<\/strong>, its second issuance in a wider EGP 3 bn program, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1087.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How will the funds be used? <\/strong>\u201cThis achievement also serves as a crucial step in our strategy to offer the highest quality leasing and factoring solutions to a broader segment of customers. We are excited to build on this successful partnership as we tackle expanding demand for the financing services industry in Egypt,\u201d EFG Corp-Solutions CEO Talal Al Ayat said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investor demand is high:<\/strong> \u201cIn the prevailing high-interest rate environment, the domestic capital market remains quite active and liquid for local currency bond issuances, which are attracting investor demand, and enabling corporates and NBFIs to tap the market to raise capital that would fund growth plans,\u201d EFG Hermes Investment Banking Co-Head Maged El Ayouti said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>EFG Hermes was the sole financial advisor, transaction manager, bookrunner, underwriter, and arranger for the issuance. Al Ahli Bank of Kuwait - Egypt was an underwriter on the transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA P<\/strong><strong>OINT-<\/strong> The transaction brings the total value of bonds issued in Egypt so far this year to EGP 21.6 bn \u2014 61.9% less than the amount raised in the same period last year \u2014 according to data tracked by EnterpriseAM.<\/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\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653326 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=\"653326\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/653326\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653326\" class=\"content-area-description single-story post-653326 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=\"653327\" 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=\"653327\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/el-sisi-touches-on-rights-of-palestinians-in-latest-public-remarks\/\">\r\n                            Egypt\u2019s El Sisi touches on rights of Palestinians in latest public remarks                        <\/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\/15\/el-sisi-touches-on-rights-of-palestinians-in-latest-public-remarks\/\" 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\/15\/el-sisi-touches-on-rights-of-palestinians-in-latest-public-remarks\/')\">\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\/15\/el-sisi-touches-on-rights-of-palestinians-in-latest-public-remarks\/\">\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=El Sisi touches on rights of Palestinians in latest public remarks&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/el-sisi-touches-on-rights-of-palestinians-in-latest-public-remarks\/\">\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\/15\/el-sisi-touches-on-rights-of-palestinians-in-latest-public-remarks\/&title=El Sisi touches on rights of Palestinians in latest public remarks\">\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=El+Sisi+touches+on+rights+of+Palestinians+in+latest+public+remarks+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F15%2Fel-sisi-touches-on-rights-of-palestinians-in-latest-public-remarks%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\/15\/el-sisi-touches-on-rights-of-palestinians-in-latest-public-remarks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1158.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653328\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/el-sisi-touches-on-rights-of-palestinians-in-latest-public-remarks\/1158-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1158.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1158.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1158.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1158.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653327\" class=\"content-area-description single-story post-653327 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam 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\/.8b104be1-8c2f-4d39-81e1-4e05bf8fc5b1.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Sisi talks Gaza, regional stability in latest speech<\/strong><strong>:<\/strong> The nation's talking heads focused last night on President Abdel Fattah El Sisi\u2019s latest remarks (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/live\/yhv9K6wziJg\" style=\"\" rel=\"noopener\">watch, runtime: 2:23:10<\/a>), made during the Armed Forces' 40th cultural seminar, where he weighed in on Palestinian rights and regional peace. <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02mUDkTjSJbzYuLoBsQzpGALx5yDSwtAYjwLMH5vRLNm5GbZT4ZbW8rwZgz22PJ5JSl\" style=\"\" rel=\"noopener\">El Sisi emphasized<\/a> the importance of respecting the rights of Palestinian in accordance with international resolutions, and called for abandoning the \u201cillusions of expansion and hostile policies \u2026 to ensure peaceful coexistence among the peoples of the region and spare future generations the scourges of conflict.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Military prowess for peace<\/strong><strong>:<\/strong> Speaking on El Sa\u2019a El Sadesa, advisor at the Nasser Military Academy\u2019s Center for Strategic Studies Wael Rabie told host Azza Mostafa that El Sisi's speech carried a number of key messages \u2014 most notably that strengthening Egypt's military and police capabilities should not be interpreted as a threat but rather as an attempt to maintain peace (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=KbWwvPcQ7QE\" style=\"\" rel=\"noopener\">watch, runtime: 4:11<\/a>).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"653329\" 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=\"653329\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/a-bus-crash-in-ain-sokhna-kills-12-and-injures-tens-others\/\">\r\n                            A bus crash in Egypt\u2019s Ain Sokhna kills 12 and injures tens others                        <\/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 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class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1155.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653330\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/a-bus-crash-in-ain-sokhna-kills-12-and-injures-tens-others\/1155-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1155.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1155.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1155.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1155.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653329\" class=\"content-area-description single-story post-653329 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-enterpriseam tag-infrastructure 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\/.8db507bd-a6ae-492f-830b-966c612fa93d.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Fatal bus crash puts Egypt's road safety in the international spotlight: <\/strong>The <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/egypt-bus-crash-suez-university-students-7b69d1972f90cd514d558c6d6c8a0ddf\" style=\"\" rel=\"noopener\">Associated<\/a><a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/egypt-bus-crash-suez-university-students-7b69d1972f90cd514d558c6d6c8a0ddf\" style=\"\" rel=\"noopener\">Press<\/a> covered a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02z4wmNYjEV8K6yeniNRq4yn1XGbg1A18Z3qzT8vwsD2c76Rbaqyg4AfHRD8pNMEq3l\" style=\"\" rel=\"noopener\">bus accident<\/a> that took place yesterday in Ain Sokhna, killing 12 and injuring 33 others. The bus, which was carrying Galal University students, was transporting the students from campus to their dorms before it crashed and overturned on a highway. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The AP's coverage highlights ongoing concerns about Egypt's road safety,<\/strong> noting that such incidents remain a persistent challenge for the country amid infrastructure issues. <\/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\/infrastructure\/\">infrastructure<\/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=\"653331\" 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=\"653331\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/egas-is-setting-up-a-jv-to-supply-europe-with-gas-plus-news-from-beltone-amoun-fra-cbe-gb-capital\/\">\r\n                            EGAS is setting up a JV to supply Europe with gas                        <\/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\/15\/egas-is-setting-up-a-jv-to-supply-europe-with-gas-plus-news-from-beltone-amoun-fra-cbe-gb-capital\/\" 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\/15\/egas-is-setting-up-a-jv-to-supply-europe-with-gas-plus-news-from-beltone-amoun-fra-cbe-gb-capital\/')\">\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\/15\/egas-is-setting-up-a-jv-to-supply-europe-with-gas-plus-news-from-beltone-amoun-fra-cbe-gb-capital\/\">\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=EGAS is setting up a JV to supply Europe with gas. PLUS: News from Beltone, Amoun, FRA, CBE, GB Capital&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/egas-is-setting-up-a-jv-to-supply-europe-with-gas-plus-news-from-beltone-amoun-fra-cbe-gb-capital\/\">\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\/15\/egas-is-setting-up-a-jv-to-supply-europe-with-gas-plus-news-from-beltone-amoun-fra-cbe-gb-capital\/&title=EGAS is setting up a JV to supply Europe with gas. PLUS: News from Beltone, Amoun, FRA, CBE, GB Capital\">\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=EGAS+is+setting+up+a+JV+to+supply+Europe+with+gas.+PLUS%3A+News+from+Beltone%2C+Amoun%2C+FRA%2C+CBE%2C+GB+Capital+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F15%2Fegas-is-setting-up-a-jv-to-supply-europe-with-gas-plus-news-from-beltone-amoun-fra-cbe-gb-capital%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\/15\/egas-is-setting-up-a-jv-to-supply-europe-with-gas-plus-news-from-beltone-amoun-fra-cbe-gb-capital\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1160.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653332\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/egas-is-setting-up-a-jv-to-supply-europe-with-gas-plus-news-from-beltone-amoun-fra-cbe-gb-capital\/1160-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1160.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1160.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1160.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1160.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653331\" class=\"content-area-description single-story post-653331 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-beltone-holding tag-catalyst-partners tag-egas tag-energy tag-enterpriseam tag-financial-inclusion tag-financial-regulatory-authority tag-gb-capital tag-hospitality tag-logistics tag-madinet-masr tag-non-banking-financial-services tag-oil-and-gas tag-real-estate tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.c8c9c64a-0e94-4d83-a521-0525c1fdffa8.mp3\"><\/audio><\/figure>\n<p class=\"tag-border-left\">EXPANSION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- EGAS to set up a JV for gas exports in Greece: <\/strong>State gas firm EGAS signed a partnership agreement with Greek infrastructure investment company <a target=\"_blank\" href=\"https:\/\/www.copelouzos.gr\/en\/\" style=\"\" rel=\"noopener\">Copelouzos Group<\/a> to develop a JV headquartered in Greece focused on the trade, transport, supply, and regasification of natural gas in Eastern European countries and Greece, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid02siFZ2Lk6Jz7i3wZn5MAaHtb2cLBk3nD9RTDZQj5gTbpemdzAzMMy74khbtR9GXeTl\" style=\"\" rel=\"noopener\">statement<\/a>. The agreement follows President Abdel Fattah El Sisi\u2019s meeting with the chairman of Copelouzos Group, which saw the two discuss supplying natural gas to Eastern Europe.<\/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\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Beltone Leasing eyes African expansion:<\/strong> Beltone Holding subsidiary Beltone Leasing and Factoring is looking to expand across the continent, starting with Morocco and Senegal, CEO Amir Ghannam told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/companies\/56564\/%D8%A8%D9%84%D8%AA%D9%88%D9%86-%D9%84%D9%84%D8%AA%D8%A3%D8%AC%D9%8A%D8%B1-%D8%A7%D9%84%D8%AA%D9%85%D9%88%D9%8A%D9%84%D9%8A-%D8%AA%D8%AE%D8%B7%D8%B7-%D9%84%D9%84%D8%AA%D9%88%D8%B3%D8%B9-%D8%A8%D8%B4%D9%85%D8%A7%D9%84-%D9%88-%D8%BA%D8%B1%D8%A8-%D8%A3%D9%81%D8%B1%D9%8A%D9%82%D9%8A%D8%A7\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The company is in talks with three major international financial institutions over a USD 60 mn loan to fund the expansion, he added. The company confirmed the story later yesterday in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1114.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">M&A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Amoun\u2019s bid for 65.6% of Atlas moves forward: <\/strong>The Financial Regulatory Authority (FRA) approved Amoun for Real Estate and Tourism Development\u2019s bid to acquire a 65.59% stake in Atlas For Investment and Food Industries, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1162.pdf\" style=\"\" rel=\"noopener\">an announcement by the FRA (pdf)<\/a>. Amoun wants to buy 427.2 mn of Atlas\u2019 shares at EGP 0.78 per share in a mandatory tender offer, putting the transaction\u2019s value at EGP 333.22 mn by our math.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Amoun last month <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ea28b51-3839-4b2d-9725-fb6a48b64055\/amoun-wants-a-majority-stake-in-egx-listed-atlas\" style=\"\" rel=\"noopener\">submitted a mandatory tender offer<\/a> to acquire a majority stake in Atlas.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Aspire to sell its stake in Egyptian Exchange Company: <\/strong>Aspire Capital Holding will sell its entire 40% stake \u2014 represented in 2 mn shares \u2014 in Egyptian Exchange Company to three investors in a EGP 81.75 mn transaction after its board approved the move, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1117.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Catalyst Partners\u2019 Saudi venture kicked off operations<\/strong>, acting as the sole financial advisor on a transaction that saw gaming-focused, India-based strategic investment firm <a target=\"_blank\" href=\"https:\/\/jetapult.co\/\" style=\"\" rel=\"noopener\">Jetapult<\/a> acquire a stake in KSA-based game studio <a target=\"_blank\" href=\"https:\/\/umxstudio.co\/en\/\" style=\"\" rel=\"noopener\">UMX Studio<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1141.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The transaction marks Catalyst Partners' first foray into the Saudi 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\">REGULATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New anti-money laundering and terrorism financing guidelines for NBFIs:<\/strong> The Financial Regulatory Authority has issued new regulations to combat money laundering and terrorism financing for NBFIs, according to a decision published in the Official Gazette. The new regulations apply to the EGX, financial institutions, and entities licensed to engage in non-banking financial activities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The new rules require NBFIs to task an internal audit officer with assuring that the company remains in line with anti-money laundering and terrorism financing regulations, and stipulates that employees must be regularly trained in order to help them identify the signs of illicit activity. The new guidelines also lay out a set of general and sector-specific indicators to be used to determine whether certain activities might involve money laundering or terrorism financing.<\/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\">BANKING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Low-risk clients can now open up FX financial inclusion bank accounts<\/strong>, after the central bank greenlit the move, according to a CBE <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1145.pdf\" style=\"\" rel=\"noopener\">circular (pdf)<\/a>. The move aims to integrate more segments into the formal banking sector and facilitate transactions for those who require FX bank accounts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The nitty-gritty:<\/strong> The new accounts will be available to individuals, as well as micro-enterprises classified as low-risk. The daily and monthly transaction limits for these accounts will be equivalent to those set for EGP accounts, based on the exchange rate at the time of transactions. Banks can issue debit cards for the FX account after securing the CBE\u2019s approval.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">REAL ESTATE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fast tracking Madinet Masr\u2019s Sarai: <\/strong>Real estate developer Madinet Masr inked a EGP 600 mn strategic partnership with Redcon Spain Construction to speed up construction work in its Sarai Project in New Cairo, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1140.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The constructor will take over the construction of the Z Villas in Sarai\u2019s East Wave project \u2014 construction is expected to be completed next year.<\/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 BANKING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GB Capital to offer promotion, underwriting services: <\/strong>GB Corp\u2019s NBFS arm GB Capital has acquired its promotion and underwriting license from the Financial Regulatory Authority, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1143.pdf\" style=\"\" rel=\"noopener\">s<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1143.pdf\" style=\"\" rel=\"noopener\">tatem<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1143.pdf\" style=\"\" rel=\"noopener\">ent (pdf)<\/a>. While not transitioning into an investment bank, the license allows the company to offer venture capital services and establish companies that issue or increase their capital through securities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">HOSPITALITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new Hilton hotel is coming: <\/strong>Global hospitality brand Hilton will set up a Hilton Garden Inn in Borg El Arab in partnership with <a target=\"_blank\" href=\"https:\/\/tharaadevelopments.com\/\" style=\"\" rel=\"noopener\">Tharaa Developments<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1103.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The 135-key hotel is set to open in 2028 and will include lobby and pool bars, a restaurant, four meeting rooms, a gym, and direct beach access. The hotel\u2019s location in Tharaa\u2019s Glee development is just half an hour\u2019s drive from Borg El Arab Airport and less than a two-hour drive from West Cairo.<\/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\/beltone-holding\/\">Beltone Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/catalyst-partners\/\">Catalyst Partners<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madinet-masr\/\">Madinet Masr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653333\" 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=\"653333\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/ems-heading-for-more-sovereign-defaults-sp-says\/\">\r\n                            Expect more sovereign defaults over the next 10 years as debt burdened countries struggle to refinance, S&amp;P Global Ratings says                        <\/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\/15\/ems-heading-for-more-sovereign-defaults-sp-says\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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data-attachment-id=\"653334\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/ems-heading-for-more-sovereign-defaults-sp-says\/1146-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1146.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1146.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1146.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1146.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653333\" class=\"content-area-description single-story post-653333 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-bonds tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.93c18dd3-315f-4111-bd7c-c92e13a920d5.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Heading towards EM sovereign defaults?<\/strong> Sovereign defaults among emerging market countries may become more common over the next decade as heavy debt burdens make it difficult for these countries to keep up with high borrowing costs, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1a625d41-7e1f-415c-beef-2255afa1d498\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports, citing a report by S&amp;P Global Ratings. Despite a global monetary easing cycle now underway, nations at risk of default are struggling to marshall the resources needed to service foreign currency debts, with new creditors also hard to come by. The story got ink from <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/sp-global-says-countries-likely-default-more-often-coming-decade-2024-10-14\/#:~:text=The%20combined%20number%20of%20defaults,to%20ensure%20foreign%20capital%20inflows.\" style=\"\" rel=\"noopener\">Reuters<\/a> and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-14\/s-p-sees-more-sovereign-foreign-debt-defaults-over-next-decade\" style=\"\" rel=\"noopener\">Bloomberg<\/a>.<\/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>Pulse check:<\/strong> Despite there being no telltale sign for a sovereign default, S&amp;P found that in the 12 months prior to defaulting, governments spent about a fifth of their revenue paying off interest payments on accumulated debts. Countries facing potential defaults include the Maldives \u2014 which was recently bailed out by India \u2014 and Argentina.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Defaults by a different name?<\/strong> Argentina\u2019s President Javier Milei <a target=\"_blank\" href=\"https:\/\/www.boletinoficial.gob.ar\/detalleAviso\/primera\/314386\/20240923\" style=\"\" rel=\"noopener\">okayed a decree last month<\/a> that allows swaps of maturing debt for new debt at market interest rates without prior approvals from legislators. These \u201cbuyback\u201d transactions are expected to become more common, leading to less cut and dry notions of what it means for a country to default, senior sovereign ratings analyst at S&amp;P Giulia Filocca explained. Despite appearing distinct from traditional defaults, such transactions can be categorized as distressed exchanges if done to avoid an outright default, Filocca adds. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who's safe for now?<\/strong> Zambia and Sri Lanka have managed to rebound from defaults, the FT said. Meanwhile, Kenya and Pakistan narrowly avoided defaults this year thanks to new loans \u2014 with <a target=\"_blank\" href=\"https:\/\/www.arabnews.pk\/node\/2417451\/pakistan\" style=\"\" rel=\"noopener\">Saudi<\/a> and the UAE among those extending financial support to Pakistan \u2014 and IMF bailouts. Despite this, they are unable to tap bond markets for refinancing due to high borrowing costs charged to governments in similar situations. Ghana recently exited default after restructuring debts, and Ukraine successfully refinanced over USD 20 bn in debt payments following a moratorium on payments due to Russia's invasion. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT- Nations that have restructured their debts carry that legacy in terms of lower<\/strong> <strong>ratings. <\/strong>\u201cThat points to the possibility of repeat defaults,\u201d Emea sovereign specialist at S&amp;P Global Ratings Frank Gill said. Fiscal alternatives and current account gains on the back of FDI may help to stave off defaults, but FDI performance has shown little signs of an uptick, Gill added. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Helmerich &amp; Payne exits Adnoc Drilling:<\/strong> US oil and gas well drilling company <a target=\"_blank\" href=\"https:\/\/www.helmerichpayne.com\/\" style=\"\" rel=\"noopener\">Helmerich<\/a><a target=\"_blank\" href=\"https:\/\/www.helmerichpayne.com\/\" style=\"\" rel=\"noopener\">&amp; Payne<\/a> (H&amp;P) fully divested its stake in Abu Dhabi National Oil Company\u2019s (Adnoc) drilling unit, Adnoc Drilling, in a USD 197 mn transaction, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1095.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The sale was completed through an accelerated book build (ABB), which \u201cattracted a strong group of investors\u201d despite unfavorable geopolitical conditions.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>H&amp;P acquired its stake in Adnoc Drilling back in <a target=\"_blank\" href=\"https:\/\/www.adnoc.ae\/en\/news-and-media\/press-releases\/2021\/adnoc-and-helmerich-payne-form-strategic-alliance\" style=\"\" rel=\"noopener\">September 2021<\/a>, making a USD 100 mn cornerstone investment during the company\u2019s IPO. As part of the agreement, Adnoc Drilling also purchased eight FlexRig land rigs from H&amp;P for USD 86.5 mn.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>EFG Hermes served as joint global coordinator for the ABB. <\/p><p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mixed at dispatch time this morning<\/strong>, with benchmarks we follow in Shanghai and Hong Kong slipping. Meanwhile, the ASX 200 and the Nikkei were both in the green. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dow, Nasdaq, and S&amp;P futures were all up slightly in overnight trading <\/strong>after the Dow and the S&amp;P hit new record high closes yesterday. Futures also suggest major European benchmarks are set to start the trading day in the green a little later this morning. <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,273<\/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: +21.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 48.55<\/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 48.68<\/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 48.54<\/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 48.64<\/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\">11,960<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9% (YTD: -0.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,303<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: -2.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,455<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +9.7%)<\/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>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\">5,860<\/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: +22.9%)<\/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>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\">8,293<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +7.2%)<\/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\">5,041<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +11.5%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 77.46<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2.48<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,666<\/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>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 65,951<\/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\">+5.1% (YTD: +56.0%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 1.1% at <\/strong><strong>yesterday\u2019s <\/strong><strong>close<\/strong> on turnover of EGP 3.7 bn (10.3% below the 90-day average). Local investors were the sole net sellers. The index is up 21.6% 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 (+4.4%), Oriental Weavers (+3.8%), and Cleopatra Hospitals (+3.0%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>ADIB (-3.0%), EFG Holding (-0.8%), and Heliopolis Housing (-0.7%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"653335\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">9<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/egypt-could-play-a-key-role-in-the-maritime-industrys-decarbonization\/\">\r\n                            Egypt could play a key role in the maritime industry\u2019s decarbonization<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/egypt-could-play-a-key-role-in-the-maritime-industrys-decarbonization\/\" 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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In this week\u2019s Going Green, we take stock of existing initiatives and make the case for Egypt at the center of a decarbonized global maritime industry.<\/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 global maritime industry is pushing for decarbonization:<\/strong> The International Maritime Organization has set ambitious targets for reducing greenhouse gas emissions over the next quarter of a century, aiming for a 20% cut by 2030 and full decarbonization by 2050, according to Norwegian certification body DNV\u2019s latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1138.pdf\" style=\"\" rel=\"noopener\">maritime forecast (pdf)<\/a>. While these targets may seem a stretch \u2014 particularly given that 93% of the global fleet still operates on traditional fossil fuels \u2014 the push is in line with global market pressures as cargo owners, financial institutions, and insurers all demand greener shipping options. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alternative fuels are key to the transition: <\/strong>The industry is aiming to move toward low-carbon fuels like LNG, methanol, and ammonia to power the existing and future fleet. According to the DNV, the demand for carbon-neutral fuels is expected to reach between 7.7 mn to 52.9 mn tons of oil-equivalent by 2030. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There are some snags, though:<\/strong> The absence of large-scale availability of green fuels like green methanol and ammonia remains a key obstacle to maritime decarbonization in the short term. While the infrastructure for producing, storing, and transporting these fuels is currently under development, the shipping industry will also need to build new vessels that can accommodate a variety of fuel technologies or convert existing ships to accommodate new fuel types. And, once greater quantities of green fuel are available, the maritime industry will need to compete with other industries \u2014 such as the aviation, road transport, and industrial sectors \u2014 for existing supplies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Within this global scenario, Maersk\u2019s investment highlights Egypt\u2019s potential: <\/strong>Egypt\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f946badd-a338-4c7b-ada3-f1965c01a6bd\/egypt,-maersk-sign-green-methanol-framework-agreement\" style=\"\" rel=\"noopener\">partnership<\/a> with Maersk\u2019s green methanol company C2X is a game-changer for the maritime industry\u2019s fuel transition. The USD 3 bn investment will initially produce 300k tons of green methanol annually in the SCZone, with plans to scale up to 1 mn tons \u2014 representing a significant proportion of the between 4 and 6.7 tons of green methanol expected to be on supply in 2030. This positions Egypt as a key supplier of alternative fuels to the global shipping industry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why<\/strong><strong> green methanol? <\/strong>Because a number of ships are already capable of running on methanol in addition to conventional fuels, carbon-neutral methanol is a particularly attractive green fuel for the maritime industry. While methanol-capable vessels represent only around 1% of existing global tonnage at present, they constitute nearly 10% of the shipping tonnage currently on order \u2014 making methanol-capable tonnage the second most-demanded type of tonnage on order after LNG-capable tonnage. While orders for ammonia-powered ships are also on the rise, they constitute only 0.7% of gross tonnage on order \u2014 meaning that green methanol is likely to be the primary low-carbon fuel source for the maritime industry going forward.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Scaling up production to meet global demand: <\/strong>Maersk\u2019s global target of producing 3 mn tons of green methanol annually by 2030 is central to the maritime sector\u2019s decarbonization efforts. Egypt\u2019s role in this supply chain is critical, ensuring a steady supply of the carbon-neutral fuel needed to replace fossil fuels. In tandem with Maersk\u2019s green methanol project in Spain and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/47413417-b184-4c5b-9675-832759b90a72\" style=\"\" rel=\"noopener\">similar projects<\/a> in Egypt and elsewhere, the global supply chain for green methanol is expanding \u2014 helping the industry meet its 2030 and 2050 decarbonization targets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Green bunkering is part of this broader picture: <\/strong>The SCZone has said that it wants to roll out green methanol bunkering services before 2027, after receiving <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/00114f45-f0d5-4b3e-815f-02b64efa1a58\" style=\"\" rel=\"noopener\">requests<\/a> to supply ships with green methanol and gas. Recent agreements reflect that the SCZone is well on its way to making this a reality. Last year, the zone inked a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/85faf1b5-e8ca-49c9-b104-2efc32c63c3d\/scatec,-sczone-ink-usd-1.1-bn-green-methanol-agreement\" style=\"\" rel=\"noopener\">USD 1.1 bn green methanol MoU<\/a> with Scatec to provide ships bunkering at the East Port Said Port with up to 100k tons of green methanol by 2027. The SCZone also last year handed out a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/32d7e6cb-c928-48ce-8662-3542d7f62d69\" style=\"\" rel=\"noopener\">six-month renewable license to OCI subsidiary OCI Hyfuels<\/a>, giving it the greenlight to roll out green methanol bunkering services at the East and West Port Said ports. More recently, the SCZone in April inked an MoU with the Port of Rotterdam to develop a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c849562a-fe0a-4834-bd58-a70afd76a754\/egypt-could-start-producing-sustainable-aviation-fuel-in-2025\" style=\"\" rel=\"noopener\">green bunkering corridor<\/a> that will link Singapore to Rotterdam through the Suez Canal, creating the first corridor for green bunkering between Asia, Africa, and Europe. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rising costs are a challenge, but early investment pays off: <\/strong>The economic costs of decarbonization are significant, with estimates suggesting a rise in freight costs of 69% to 112% per ton-mile. Yet, investing in energy-saving technologies and adopting alternative fuels early on could lead to long-term savings. Technologies that reduce fuel consumption not only ensure regulatory compliance but also help shipowners maintain profitability as fuel costs rise.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s advantage in green energy infrastructure: <\/strong>Egypt\u2019s collaboration with Maersk is supported by the government\u2019s ambitious goals of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d1a2b66-3c41-449b-934a-06d2b5f0d4ee\" style=\"\" rel=\"noopener\">adding 28 GW of renewable energy<\/a> to the country\u2019s energy mix over the next five to seven years, ensuring the availability of renewable energy for green methanol production. As more countries and companies ramp up their investments in green fuels, Egypt\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f7a675e9-eeb6-408d-8215-9effd013e835\/how-well-prepared-is-egypt%25e2%2580%2599s-energy-infrastructure-to-achieve-the-country%25e2%2580%2599s-energy-transition-goals%3F\" style=\"\" rel=\"noopener\">established infrastructure<\/a> gives it a competitive edge in the global green energy transition.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The country\u2019s future in global maritime decarbonization looks promising:<\/strong> With substantial investment in green methanol and ongoing projects that align with global shipping decarbonization goals, Egypt is well-placed to become a leader in green fuel production. By supporting the maritime sector\u2019s shift toward carbon-neutral alternatives, Egypt is not only contributing to global sustainability but also securing its position as a vital player in the future of shipping.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top green economy stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>The House approved a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7f1cb270-298f-4ca1-b2f5-04374f121d1d\/mps-preliminarily-approve-amendments-to-the-law-regulating-sovereign-fund-of-egypt\" style=\"\" rel=\"noopener\">USD 15 mn USAID grant<\/a><\/strong> to help us fight climate change, with a specific focus on conserving coral reefs in the Red Sea and reducing pollution.<\/li>\n<li><strong>AMEA Power will launch its <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e9e22e13-4792-4199-b649-bd30658bce2e\/egypt%25e2%2580%2599s-coal-and-diesel-production-complex-should-be-complete-next-year\" style=\"\" rel=\"noopener\">USD 800 mn Ras Ghareb wind farm<\/a><\/strong><strong> in March 2025<\/strong> with an initial 250 MW capacity, before cranking up to its full capacity of 500 MW by the end of July.<\/li>\n<li><strong>Germany\u2019s PtX Development Fund granted Scatec <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/806c9cb2-eef0-497a-9b53-1578c6b4524c\/scatec-secures-german-grant-for-the-egypt-green-hydrogen-plant\" style=\"\" rel=\"noopener\">EUR 30 mn<\/a><\/strong> to support its Egypt Green Hydrogen plant, developed with Fertiglobe, Orascom Construction, the Sovereign Fund of Egypt, and the Egyptian Electricity Transmission Company.<\/li>\n<li><strong>We\u2019re getting EUR 7 mn from the EU: <\/strong>Planning Minister Rania Al Mashat and EU Ambassador Christian Berger <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/75fd4c67-2084-48c6-a492-ec038213fece\/egypt-is-getting-eur-7-mn-from-the-eu-to-support-water-sustainability,-green-transition.\" style=\"\" rel=\"noopener\">signed a EUR 7 mn<\/a> technical support package to support Egypt's green transition.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/decarbonization\/\">decarbonization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-methanol\/\">green methanol<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maersk\/\">Maersk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maritime\/\">maritime<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"653337\" 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\/15\/653337\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653337\" class=\"content-area-description single-story post-653337 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>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<\/a><\/span><span style=\"font-weight:400;\">, Alexandria, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21 October (Monday): BEBA <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/beba.org.eg\/events\/working-luncheon-in-honour-of-h-e-dr-sameh-ahmed-el-hefny-minister-of-civil-aviation\/\" style=\"\">working luncheon<\/a><\/span><span style=\"font-weight:400;\"> with Aviation Minister Sameh El Hefny, 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;\">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>22-24 October (Tuesday-Thursday: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/brics-russia2024.ru\/en\/summit\/\" style=\"\">16th Brics Summit<\/a><\/span><span style=\"font-weight:400;\">, Kazan, Russia<\/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 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>7-9 November (Thursday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/themediaavenue.com\/finexpo-conference-and-exhibition\/?fbclid=IwY2xjawFx5hhleHR[%E2%80%A6]lHpueR1voqHGSwP-T4M0Es5hTmwMQexw_aem_uX5AEuxyE5bG21Y8xCCXkw\" style=\"\">FinExpo Conference and Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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>25-27 November (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/cit-fei.org\/conference-annual-nation-digital\" style=\"\">Annual Digital Nation Conference<\/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>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:400;\">March 2025: Operation of phase one of the Amotope wind farm <\/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> 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>Hosting WUF | Gas JV | Visa on arrival | Another Hilton hotel.<\/p>\n","protected":false},"featured_media":653314,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-653313","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"07eba047-7461-40da-9a5c-4792fc1bca7c","teaser":"Hosting WUF | Gas JV | Visa on arrival | Another Hilton hotel.","photo_url":"https:\/\/ent.news\/2024\/10\/1169.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>Foreign debt fell to USD 153 bn at the end of June - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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