{"id":653578,"date":"2024-10-20T00:00:00","date_gmt":"2024-10-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=653578"},"modified":"2025-12-18T00:41:47","modified_gmt":"2025-12-18T00:41:47","slug":"egypt-hikes-fuel-prices-by-up-to-17","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-hikes-fuel-prices-by-up-to-17\/","title":{"rendered":"Egypt hikes fuel prices by up to 17%"},"content":{"rendered":"<section id=\"653580\" 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=\"653580\">\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\/20\/egypts-airport-privatization-plans-are-already-attracting-suitors\/\">\r\n                            Egypt\u2019s airport privatization plans are already attracting suitors                        <\/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\/20\/egypts-airport-privatization-plans-are-already-attracting-suitors\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653581\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/egypts-airport-privatization-plans-are-already-attracting-suitors\/1572-jpg-26\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1572.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1572.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1572.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1572.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653580\" class=\"content-area-description single-story post-653580 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-privatization-watch tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.138ce94c-4750-4cd6-af7c-2247f5eee7fd.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morn<\/strong><strong>ing<\/strong><strong>, friends, and <\/strong><strong>welcome to new work week. <\/strong>We are gearing up for a busy week as the IMF and World Bank\u2019s annual meeting kick off tomorrow and the market digests the latest fuel price hike \u2014 our third this year. <\/p><p class=\"tag-border-left\">WATCH THIS SPACE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- Our airport privatization plans are already attracting suitors:<\/strong> Six international companies have shown interest in managing and operating airports being offered up by the state, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%88%d8%b2%d9%8a%d8%b1-%d8%a7%d9%84%d8%b7%d9%8a%d8%b1%d8%a7%d9%86-%d9%84%d9%80%d8%a7%d9%84%d9%85%d8%a7%d9%84-6-%d9%85%d8%b7%d9%88%d8%b1%d9%8a%d9%86-%d8%b9%d8%a7%d9%84%d9%85%d9%8a\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports, citing Civil Aviation Minister Sameh Elhefny. The news comes hot on the heels of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/db51c40e-c6dd-4ad1-b299-67a0b7a37e3b\/gem-kicks-off-trial-operations-today\" style=\"\" rel=\"noopener\">unconfirmed reports<\/a> that the International Finance Corporation has submitted its technical study and proposed timeline for handing over management of 20 of Egypt\u2019s airports to the private sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Elhefny was keen to emphasize (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48bca33e-8ea3-4ae0-b47e-228e52792cc8\/turkish-fm-is-in-town\" style=\"\" rel=\"noopener\">again<\/a><\/strong><strong>) that the airports will remain Egyptian:<\/strong> The airports are not for sale and remain under the sovereignty of the Egyptian state, Elhefny told the outlet. Instead, the offering involves the management and operation of the commercial activities within the airports.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> We\u2019ve been on the lookout for airport privatization news since Prime Minister Moustafa Madbouly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d5e54f1d-dc98-4fe2-ac8a-af684b381301\/madbouly-promises-important-privatization-news-soon\" style=\"\" rel=\"noopener\">said last week<\/a> that some \u201cimportant\u201d updates regarding our plans to privatize airports and banks would be announced soon. The Madbouly government first revealed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/39dc4a75-8ed5-46ed-a296-30a40cf2f166\" style=\"\" rel=\"noopener\">in November 2023<\/a> that it planned to invite private sector players \u2014 including foreign companies \u2014 to take over 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\">management of airports<\/a> in the country.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- <\/strong><strong>EGP 10 bn worth of green bonds and sukuk by the end of the fiscal year?<\/strong> The Madbouly government is looking to issue new sukuk and green bonds worth between EGP 5-10 bn in 3Q-4Q of the fiscal year 2024-2025, as part of the government's plans to diversify financing sources to attract investors and savers into the local debt market, Finance Minister Ahmed Kouchouk told Asharq Business (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=4214840335404138\" style=\"\" rel=\"noopener\">watch, runtime: 1:37<\/a>). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve heard about the government\u2019s plan to diversify its debt instruments \u2014 and bring <\/strong><strong>debt costs down: <\/strong>Kouchouk <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\">announced in his first presser<\/a> as finance minister that the state plans to turn to the local debt market through treasury bonds, green bonds, and sukuk. A government source <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2231fb64-06b2-46fd-806a-eb46bbaead17\/egypt-is-looking-to-tap-usd-3-bn-worth-of-external-debt-by-june,-kouchouk-reportedly-tells-foreign-investors\" style=\"\" rel=\"noopener\">explained to EnterpriseAM last month<\/a> that the key to reducing the cost of public debt is diversifying debt instruments and lowering interest rates by introducing innovative debt tools that attract more investors to the local market.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Owners of unauthorized buildings may get a bit more time to legalize their <\/strong><strong>properties: <\/strong>A proposed extension to the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2ebe9948-2151-4e9c-9ec7-0f5f5a44d734\" style=\"\" rel=\"noopener\">Building Reconciliation Act<\/a> \u2014 which is set to expire next month \u2014 has been presented to Prime Minister Moustafa Madbouly for study, Local Development Minister Manal Awad told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/10\/17\/%D8%A7%D9%84%D8%AD%D9%83%D9%88%D9%85%D8%A9-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D8%AF%D8%B1%D8%B3-%D8%AA%D9%85%D8%AF%D9%8A%D8%AF-%D9%85%D9%87%D9%84%D8%A9-%D8%A7%D9%84%D8%AA%D8%B5%D8%A7%D9%84%D8%AD-%D9%81%D9%8A-%D9%85%D8%AE%D8%A7%D9%84%D9%81%D8%A7%D8%AA-%D8%A7%D9%84%D8%A8%D9%86%D8%A7%D8%A1\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. The government received over 550k applications to legalize properties since May on top of 2.9 mn outstanding applications.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The cabinet greenlit the long-awaited executive regulations for the Building Reconciliation Act back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/50798bc3-5aa9-461f-b49f-4dc35d2bbaeb\/egypt%e2%80%99s-cabinet-approves-regs-for-building-reconciliation-act\" style=\"\" rel=\"noopener\">April<\/a> \u2014 the law allows owners of unauthorized buildings built by 15 October 2023 to legalize their properties in return for paying a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8408355a-0ba9-434c-9718-cc5a7d17b09f\/onwards-and-upwards:-tackling-egypt%e2%80%99s-industrial-land-scarcity-with-vertical-expansion\" style=\"\" rel=\"noopener\">reconciliation fee<\/a>. To encourage people to apply, an online platform <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f42121b-c048-4c9a-90e1-245ca990450b\/ipos-on-the-egx-to-pick-in-4q-2024-or-early-2025\" style=\"\" rel=\"noopener\">was set up<\/a> to settle violations and a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ffd8047d-6c8a-42c6-9876-42db52c205e5\/cabinet-to-set-up-a-unit-dedicated-to-state-owned-companies\" style=\"\" rel=\"noopener\">25% reduction<\/a> was given to those who paid the full fees upfront.<\/p><p class=\"tag-border-left\">DATA POINT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>More gold produced from Sukari: <\/strong>Centamin-run Sukari mine produced 131.7k oz of gold during the third quarter of the year, a 30% increase in comparison to the same period last year, the company said in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1553.pdf\" style=\"\" rel=\"noopener\">quarterly report (pdf)<\/a>. The mine has produced some 356.5k oz of gold since the beginning of the year and is on track to produce up to 500k oz for the entirety of 2024. This helped push the LSE- and TSX-listed gold mining company\u2019s revenues up 84% y-o-y during the quarter to USD 368.6 mn. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong>Sukari will soon have new owners after NYSE-listed miner AngloGold Ashanti and Centamin agreed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/80c5964f-f634-4449-8506-69a2fc05384d\/\" style=\"\" rel=\"noopener\">last month<\/a> to an acquisition that will see AngloGold buy Centamin in a cash and share transaction valued at around USD 2.5 bn. The acquisition will give AngloGold \u2014 the sixth-largest gold miner in the world \u2014 ownership of the Sukari mine.<\/p><p class=\"tag-border-left\"> HAPPENING TODAY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#1- The House is back in session: <\/strong>MPs <a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d8%ba%d8%af%d9%8b%d8%a7-%d9%82%d9%88%d9%89-%d8%a7%d9%84%d9%86%d9%88%d8%a7%d8%a8-%d8%aa%d9%86%d8%a7%d9%82%d8%b4-%d9%85%d8%b4%d8%b1%d9%88%d8%b9-%d9%82%d8%a7%d9%86%d9%88%d9%86-%d8%a7%d9%84\/\" style=\"\" rel=\"noopener\">will reconvene<\/a> for plenary sessions today through Tuesday to discuss and vote on two draft bills and four agreements with foreign institutions. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The reworked Labor Act will be up for discussion:<\/strong> The House Manpower Committee will discuss the reworked <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4b600e48-3b3b-4e83-be04-d646a2df05b6\" style=\"\" rel=\"noopener\">Labor Act<\/a>. The new law will include provisions that protect and support irregular workers \u2014 who currently make up between 60-80% of Egypt\u2019s total workforce.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The Supreme Council for Social Dialogue has been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aaaa6238-b564-4e33-9daf-0260d54bba79\/budget-discussions-continue-at-the-house\" style=\"\" rel=\"noopener\">finessing<\/a> the redrafted Labor Act since May, ahead of passing it along to the House for further discussion. The government pulled the bill from the House last year after the legislation received backlash from the business community, many of whom claimed that the original version\u2019s terms were lopsided in favor of workers. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- A new council for Egypt\u2019s education policies?<\/strong> MPs will discuss and vote on a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7073f2f-9d72-4461-bd95-59e77a8dd19e\/the-details-of-philip-morris%25e2%2580%2599-eastern-company-stake-acquisition.-plus:-news-from-azza-fahmy,-cabinet,-ina\" style=\"\" rel=\"noopener\">government-drafted bill establishing the National Council for Education, Research and Innovation<\/a> \u2014 an entity that would have exclusive authority to draw up and integrate the country\u2019s education policies in an effort to raise the overall quality of education and meet the needs of the local and foreign labor market. The proposed council \u2014 which received approval from the House\u2019s Education Committee last Wednesday \u2014 will be headed by the prime minister, and will include a number of ministers, heads of education institutions, eight experts in the sector, and four private sector representatives.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Attention offshore oil and gas professionals: <\/strong>Private and public sector energy players are in Alexandria today for the <a target=\"_blank\" href=\"https:\/\/moc-egypt.com\/\" style=\"\" rel=\"noopener\">Mediterranean Offshore Conference<\/a> at the Bibliotheca Alexandrina Conference Centre set to start later this morning and run until Tuesday. Under the title Mapping the Future of Mediterranean Energy: Optimizing Exploration, Development, and Production with Decarbonization Technologies for a Sustainable Tomorrow, the conference has packed a schedule you can check out on its <a target=\"_blank\" href=\"https:\/\/moc-egypt.com\/conference-programme-grid\/\" style=\"\" rel=\"noopener\">official website<\/a>.<\/p><p class=\"tag-border-left\">HAPPENING TOMORROW-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The IMF and the World Bank will kick off their annual meeting in Washington <\/strong><strong>DC <\/strong><strong>tomorrow<\/strong>, with a packed <a target=\"_blank\" href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/annual\/schedule\" style=\"\" rel=\"noopener\">schedule<\/a> already penciled in for the six-day event. The meeting will see \u201cthe world\u2019s finance ministers and central bank governors converge to reflect on where we are, where we are headed, and what to do about it,\u201d IMF Managing Director Kristalina Georgieva <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2024\/10\/17\/sp101724-annual-meetings-2024-curtain-raiser\" style=\"\" rel=\"noopener\">said in a speech<\/a> in the run-up to the event.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s Planning, Economic Development, and International Cooperation Minister Rania Al Mashat <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/annual\/speaker-detail\/7481\" style=\"\" rel=\"noopener\">will be in<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/annual\/speaker-detail\/7481\" style=\"\" rel=\"noopener\">attendance<\/a><\/strong>, taking part in a discussion with the President of the World Bank Ajay Banga and many others on \u201cAgri-Food Systems as an Engine of Sustainable Growth and Job Creation\u201d scheduled for Wednesday. The full list of speakers is yet to be unveiled, but you can check it out on the <a target=\"_blank\" href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/annual\/speakers\" style=\"\" rel=\"noopener\">event\u2019s official website<\/a>. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Civil Aviation Minister Sameh Elhefny is joining BEBA for lunch: <\/strong>The British Egyptian Business Association (BEBA) is hosting a luncheon under the title <a target=\"_blank\" href=\"https:\/\/beba.org.eg\/events\/working-luncheon-in-honour-of-h-e-dr-sameh-ahmed-el-hefny-minister-of-civil-aviation\/\" style=\"\" rel=\"noopener\">Egypt\u2019s Aviation Sector: A Key Catalyst for Investment, Tourism, and Economic Development<\/a> with Civil Aviation Minister Sameh Elhefny delivering the keynote address. The event will be held tomorrow at the Conrad Hotel. <\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- The capital is in for another cool day<\/strong>, with a high of 29\u00b0C and a low of 21\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a touch cooler in Alexandria<\/strong>, with a high of 28\u00b0C and a low of 20\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Industrial land up for grabs:<\/strong> The government will offer industrial land on the newly-launched <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c6b869cb-e868-4da4-9a22-1539fd12acbe\/the-lowdown-on-the%253cmark%253e-egypt-digital%253c%2Fmark%253e-industrial-platform\" style=\"\" rel=\"noopener\">Egypt Digital Industrial Platform<\/a> early December, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/10\/17\/1835151\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, quoting Industry and Transport Minister Kamel El Wazir.<\/p><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><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>ENTERPRISEAM IS LOOKING FOR SMART, TALENTED PEOPLE of all 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><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><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><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><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>PLUS- We\u2019re also looking for our first dedicated audience development professional. <\/strong>Someone who loves the challenge of helping us reach new readers in new markets \u2014 Saudi, the UAE, and lots more to come \u2014using a range of digital channels and tools. You\u2019re someone who thrives on working in a small, focused team. You\u2019ve got proven digital skills (more likely than not on the performance marketing side). And you want to be part of what we immodestly think is the region\u2019s most exciting media, advisory, and business intelligence company. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Interested? <\/strong>Tell Patrick and Moustafa why and send us your resume on <a target=\"_blank\" href=\"mailto:newjobs@enterprise.news\" style=\"\" rel=\"noopener\">newjobs@enterprise.news<\/a>. We\u2019d love to hear from you today. The position is based in Cairo, offers two days a week working anywhere you please, and offers a competitive package. (We\u2019re also pretty nice people to work with, if we don\u2019t say so ourselves.)<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Netanyahu targeted in apparent assassination attempt: <\/strong>Israeli Prime Minister Benjamin Netanyahu\u2019s summer home was the target of a drone attack yesterday. No one was injured in the attack as neither he nor his wife were home at the time. \u201cThe attempt by Iran\u2019s proxy Hezbollah to assassinate me and my wife today was a grave mistake,\u201d he said in a <a target=\"_blank\" href=\"https:\/\/x.com\/netanyahu\/status\/1847686585552134536\" style=\"\" rel=\"noopener\">post on X<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The response: <\/strong>Israel <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/two-killed-israeli-strike-north-lebanons-capital-2024-10-19\/\" style=\"\" rel=\"noopener\">struck what it said were military installations<\/a> in southern Lebanon following the attack. Meanwhile, its strikes in northern Gaza yesterday <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israeli-strikes-kill-32-gaza-siege-around-hospitals-tightens-health-officials-2024-10-19\/\" style=\"\" rel=\"noopener\">killed at least 108<\/a> as it continued to tighten its grip on the enclave\u2019s embattled north. Israel\u2019s ongoing siege of Gaza\u2019s largest refugee camp Jabaliya and encirclement of the nearby towns has seen food and medical supplies cut off amid continued Israeli attacks on civilian infrastructure.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Boeing has reached a tentative agreement to offer striking machinists a 35% pay <\/strong><strong>bump over the course of four years<\/strong> as the airline giant seeks to put an end to a five-week-long strike that has crippled production of some of its more popular aircraft. The offer includes a one-time USD 7k ratification bonus and increased employer contributions to worker retirement accounts, but is lower than the union\u2019s targeted 40% pay bump and does not include the reinstitution of defined benefit pensions, another of the union\u2019s key demands. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Union members are set to vote on the contract on Wednesday<\/strong>, the same day that Boeing is expected to release its 3Q 2024 earnings results. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/069156ae-e5b5-4238-9f48-a50022a6d6f7\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/boeing-workers-will-vote-proposal-that-could-end-strike-union-says-2024-10-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-19\/union-in-boeing-strike-presents-resolution-proposal-to-members\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/airlines\/boeing-union-reach-wage-deal-to-end-strike-b9804268?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">WSJ<\/a>)<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" 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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"653583\">\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\/20\/central-bank-holds-interest-rates-in-line-with-expectations\/\">\r\n                            Central Bank of Egypt leaves rates unchanged in line with expectations                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" 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            <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/central-bank-holds-interest-rates-in-line-with-expectations\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/828.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653584\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/central-bank-holds-interest-rates-in-line-with-expectations\/828-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/828.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"828.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/828.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/828.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653583\" class=\"content-area-description single-story post-653583 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-central-bank-of-egypt tag-economy tag-enterpriseam tag-inflation tag-interest-rates 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\/.43caf4a2-b2ae-4c2a-a051-ffc13c06546b.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Steady, as she goes: <\/strong>The Central Bank of Egypt left record high interest rates unchanged on Thursday, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1521.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>, citing upside risks to the nation\u2019s inflationary trajectory and stable economic growth. \u201cThe current policy rates remain appropriate to maintain the prevailing tight monetary stance until a significant and sustained decline in inflation is realized,\u201d the bank said. <\/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 rates stand:<\/strong> The Monetary Policy Committee (MPC) kept the overnight deposit rate at 27.25%, the overnight lending rate at 28.25%, and the main operation and discount rates at 27.75%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Four in a row: <\/strong>Rates have remained unchanged since the committee delivered a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac569e2c-c6f2-480e-bdaa-3f1cd4f81d05\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac569e2c-c6f2-480e-bdaa-3f1cd4f81d05\" style=\"\" rel=\"noopener\">600 bps rate<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac569e2c-c6f2-480e-bdaa-3f1cd4f81d05\" style=\"\" rel=\"noopener\">hike<\/a> following a surprise monetary policy meeting in March in conjunction with the float of the EGP and a larger loan package from the IMF being approved soon after. Rates have now remained unchanged for four consecutive MPC meetings \u2014 the committee left rates untouched when <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dcf6e23c-70a9-499b-bb2c-467f1a22252b\/cbe-leaves-interest-rates-unchanged-in-line-with-expectations\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dcf6e23c-70a9-499b-bb2c-467f1a22252b\/cbe-leaves-interest-rates-unchanged-in-line-with-expectations\" style=\"\" rel=\"noopener\">it met in May<\/a>, <a target=\"_blank\" rel=\"noopener\"><\/a><a target=\"_blank\" rel=\"noopener\">July<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/021ff2d7-1458-43ae-ba85-3f1274c5ae24\/egypt%25e2%2580%2599s-central-bank-holds-interest-rates-steady-for-third-consecutive-meeting\" style=\"\" rel=\"noopener\">September<\/a>, and most recently last week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The gradual cooling of inflation is far from <\/strong><strong>guaranteed<\/strong><strong>: <\/strong>Despite a global cooling of inflation and growing confidence at home that inflation\u2019s on a downward trajectory, upside risks remain, according to the CBE. The bank referred to international commodity prices \u2014 especially for energy \u2014 as having shown \u201cvolatility due to supply chain disruptions, stemming from geopolitical tensions, and adverse weather conditions.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This concern makes sense \u2014 inflation accelerated for two consecutive months in <\/strong><strong>September: <\/strong>Expectations that the bank would hold off on rate cuts were only bolstered by the country\u2019s most recent inflation data showing <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c7c709e1-e024-43f6-891f-8690610c2724\/%253cmark%253einflation%253c%2Fmark%253e-accelerates-for-a-second-month-in-september-to-26.4%2525\" style=\"\" rel=\"noopener\">inflation accelerating in September<\/a> for a second consecutive month. Despite a fall in food and beverage price inflation, an increase in the prices of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1628a0b2-670d-4b30-a3e1-40458c2025c9\/gov%25e2%2580%2599t%253cmark%253e-hikes%253c%2Fmark%253e-subsidized-butane-prices-by-up-to-50%2525\" style=\"\" rel=\"noopener\">gas<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/502d7ed8-9571-460b-ad59-c01d2e26ff5c\/our-long-awaited-electricity-rate%253cmark%253e-hikes%253c%2Fmark%253e-are-here,-capping-off-a-busy-summer-of-subsidy-reform\" style=\"\" rel=\"noopener\">electricity<\/a>, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/45d2052e-4c8d-4dde-b93c-8965df87dd03\/egypt%253cmark%253e-hikes%253c%2Fmark%253e-car-fuel-prices-by-up-to-15%2525\" style=\"\" rel=\"noopener\">fuel<\/a> drove the rate of inflation up throughout the month \u2014 and over the weekend we got news of another fuel hike.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the overall picture is far from gloomy: <\/strong>Although annual headline urban inflation ticked up 0.2 percentage points <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4578f71a-c6a0-49f0-8352-ba9a4d9810be\/inflation-in-egypt-accelerates-to-26.2%2525-in-august-following-five-months-of-cooling\" style=\"\" rel=\"noopener\">from the month before<\/a> to 26.4% in September, the figure still places the rate of inflation a whole 11.6 percentage points below the record <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d1c1b9b4-919d-41f5-a4f3-85357bcc52ad\/egypt%25e2%2580%2599s-annual-inflation-rose-to-new-record-high-in-september,-beating-analyst-expectations\" style=\"\" rel=\"noopener\">38.0% recorded during the same period last year<\/a>. The bank thinks that the downturn in food inflation and improved inflation expectations show that inflation \u201cremains on a downward trajectory, albeit restrained by the drag of fiscal measures,\u201d adding that inflation is expected to stabilize in 4Q 2024 and begin declining again in 1Q 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Keeping up economic growth is also a consideration: <\/strong>Although the bank describes the nation's economic growth as \u201cbroadly stable,\u201d it cautions that it is still susceptible to the \u201cdampening effect of monetary tightening.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The CBE\u2019s assessment is backed up by the data:<\/strong> S&P Global\u2019s most recent Egypt Purchasing Managers Index (PMI) report showed activity in the country\u2019s non-oil private sector <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/19e60e04-922b-4f69-ac6a-3002ab4f6a11\/egypt%25e2%2580%2599s%253cmark%253e-pmi%253c%2Fmark%253e-falls-back-into-contraction-territory-as-input-prices-soarhttps:\/\/enterprise.news\/egypt\/en\/news\/story\/19e60e04-922b-4f69-ac6a-3002ab4f6a11\/egypt%25e2%2580%2599s%253cmark%253e-pmi%253c%2Fmark%253e-falls-back-into-contraction-territory-as-input-prices-soar\" style=\"\" rel=\"noopener\">falling back into contraction<\/a> in September after having been in the green for the first and only time since November 2020. Business activity is now at its lowest since April. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All the analysts we spoke to were on the money:<\/strong> The 11 analysts and economists <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08a7d214-f3c7-479d-b02a-511da7f136c3\/egypt%e2%80%99s-central-bank-expected-to-keep-interest-rates-unchanged-when-it-meets-on-thursday\" style=\"\" rel=\"noopener\">polled by<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08a7d214-f3c7-479d-b02a-511da7f136c3\/egypt%e2%80%99s-central-bank-expected-to-keep-interest-rates-unchanged-when-it-meets-on-thursday\" style=\"\" rel=\"noopener\">EnterpriseAM<\/a> last week forecasted the CBE\u2019s decision to keep rates unchanged, pointing to inflationary pressures and growing geopolitical tensions. \u201cThe CBE's primary objective continues to be stabilizing inflation and managing market expectations. While the backdrop of global monetary easing presents an opportunity for potential rate reductions, the CBE is likely to prioritize controlling inflation over any monetary policy easing in response to other economic indicators,\u201d economic analyst Dina El Wakkad said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some corners of the international press also picked up<\/strong><strong> the story: <\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-17\/egypt-holds-rates-as-price-hikes-and-mideast-crisis-spur-caution\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, who EFG Hermes\u2019 Mohamed Abu Basha told that authorities are in no rush to cut rates at the moment as they are probably cautious of a \u201cpotential second-round effect from energy-price rises.\u201d<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/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=\"653585\" 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   <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/egypt-hikes-fuel-prices-for-the-third-time-in-2024\/\">\r\n                            Egypt hikes fuel prices for the third time this year                        <\/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\/20\/egypt-hikes-fuel-prices-for-the-third-time-in-2024\/\" target=\"_blank\">\n                    Open in 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data-attachment-id=\"653587\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/egypt-hikes-fuel-prices-for-the-third-time-in-2024\/1568-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1568.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1568.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1568.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1568.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653586\" class=\"content-area-description single-story post-653586 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-energy tag-enterpriseam tag-fuel tag-oil-and-gas wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.19db593b-69c4-44e0-a924-db75e94f9a8a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The fuel bill keeps going up:<\/strong> The fuel pricing committee has decided to hike fuel prices by 8-17% as of last Friday, according to an <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid02UPFU4uAqn9MdkR24uggBBwu8sg5mb1BQSJmXiomS1jsc9K6uvxAhF278kNcRLtMWl?__cft__[0]=AZWZ9TFzrwsFLSMHnyxrFWajQHeVeQ6HJ908vaiz-XzHhqxTvkyODOMRWQoJaSQdmJkYPNxJpwIKSYGIYf1WFyHbYciOFnqz5dwA8rLkKCK8SjbBJxJ_0GiySOmqFUrg3-24EZ04If4wyFZXIHaaSiTJ13N5tWIqWOQdoMZ7iI2PeQ&__tn__=%2CO%2CP-R\" style=\"\" rel=\"noopener\">Oil Ministry statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Here's a breakdown of the new prices:<\/strong><\/p>\n<ul>\n<li><strong>95-Octane is now EGP 17.0 per liter<\/strong>, up 13.3% from EGP 15.0;<\/li>\n<li><strong>92-Octane is now EGP 15.25 per liter<\/strong>, up 10.9% from EGP 13.75;<\/li>\n<li><strong>80-Octane is now EGP 13.75 per liter<\/strong>, up 12.2% from EGP 12.25;<\/li>\n<li><strong>Diesel prices rose to EGP 13.50 per liter<\/strong>, up 17.4% from EGP 11.50;<\/li>\n<li><strong>The price of kerosene oil also rose to EGP 13.50 per liter<\/strong>, up 17.4% from EGP 11.50.<\/li>\n<li><strong>The price of compressed natural gas for automobiles rose to EGP 7.0 per cubic meter<\/strong>, up 7.7% from EGP 6.50 previously \u2014 a price that has been fixed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/be2302e1-e1a7-4413-95b2-887642444241\/\" style=\"\" rel=\"noopener\">since March<\/a>.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Industrial mazut prices also got a bump: <\/strong>The price of mazut for most industries increased to EGP 9.5k per ton, up 11.8% from EGP 8.5k previously. The government has kept mazut prices stable for electricity generation and food industries, according to the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This marks the <\/strong><strong>third fuel price hike in 2024: <\/strong>The move comes just three months after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/45d2052e-4c8d-4dde-b93c-8965df87dd03\/egypt-hikes-car-fuel-prices-by-up-to-15%2525\" style=\"\" rel=\"noopener\">the<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/45d2052e-4c8d-4dde-b93c-8965df87dd03\/egypt-hikes-car-fuel-prices-by-up-to-15%2525\" style=\"\" rel=\"noopener\">last price hike in July<\/a>, which saw petrol prices increase 10-11% and diesel prices rise by 15%. Petrol prices have risen by 33-38% year to date, while diesel prices have jumped by 63.6% since the beginning of 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T<\/strong><strong>he decision is set to save the state a whole lot of <\/strong><strong>money: <\/strong>The new fuel prices cover 85% of petrol costs and 69% of diesel costs, a government source told EnterpriseAM, adding that the latest increase will save the state coffers some EGP 10 bn during the next quarter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the state\u2019s fuel subsidy bill is still pretty hefty: <\/strong>The government is still subsidizing diesel purchases by EGP 8 bn per month and petrol purchases by EGP 1.8 bn per month, our source added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government\u2019s target date to end fuel subsidies is fast approaching: <\/strong>Successive hikes have been widely expected since Prime Minister Moustafa Madbouly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/144e0e2f-276a-429d-a414-0b2427177e53\" style=\"\" rel=\"noopener\">signaled in May<\/a> that the state is looking to gradually \u201crestore balance\u201d between fuel cost and its end price by the close of 2025. Despite Madbouly noting that this target would not include diesel, it has seen the highest rate of increase among petroleum products since the beginning of this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fuel prices are set to remain as they are for at least six months: <\/strong>The fuel pricing committee will skip the next quarter and meet again in six months to review fuel prices, the Oil Ministry said in the statement. The committee has recently shifted its pricing mechanism from the so-called \u201cautomatic pricing mechanism\u201d implemented in 2019, to a cost recovery mechanism, another government source told EnterpriseAM. The previous mechanism linked fuel price changes to global oil prices and FX rates, while limiting potential adjustments to \u00b110% per revision.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The state\u2019s desire to keep inflation in check is behind the pause: <\/strong>The six-month pause to fuel price hikes aims to stabilize prices and reduce inflation in the coming period, Madbouly said in <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0ZbeuxYa3hvJh4NYtiJZrCsG6ehjnLed4JHfyZbNiNd8JuTd1wYo3EFm3mAAm3PW4l\" style=\"\" rel=\"noopener\">televised statements<\/a> yesterday. Energy costs \u2014 a substantial part of which is accounted for by fuel prices \u2014 have been acknowledged as <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c7c709e1-e024-43f6-891f-8690610c2724\/%253cmark%253einflation%253c%2Fmark%253e-accelerates-for-a-second-month-in-september-to-26.4%2525\" style=\"\" rel=\"noopener\">driving two consecutive monthly upticks in inflation<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Between a rock and a hard place:<\/strong> Good news for the public purse doesn\u2019t necessarily mean good news for the state in its fight against inflation. While Egypt is determined to tame its hefty fuel import bill \u2014 especially with concerns a regional war could cause energy import prices to spiral \u2014 and meet its obligations with the IMF to gradually lift fuel subsidies, passing the tab onto the consumer means adding sizable inflationary pressures to the mix as Egypt tries to get inflation in the single digits by next year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some sort of state intervention is set to continue post-price parity <\/strong>Madbouly pointed to the state\u2019s desire to shield low-income households and the middle class from rising prices more generally, adding that support measures will \u201ccontinue to exist even after reaching the equilibrium point.\u201d Madbouly did not specify what he was referring to, but his government is planning to start <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/018eb8f0-33bb-4154-8315-01dd92a8f2db\/adq-will-lay-the-foundation-stone-for-its-ras-el-hekma-project-this-week\" style=\"\" rel=\"noopener\">the move to cash-based subsidies<\/a> in the next fiscal year.<\/p>\n<p class=\"tag-border-left\">THE AFTERMATH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Users of public transport in the capital are also going to feel the pinch<\/strong>, with fare hikes <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/CairoGovernment1\/posts\/pfbid02voFS3vbJwx5DBjAXnkmVL3aYjkq8UpCV2Lz8YxhVcCQ6LaPZYi6pgHzsmyL4EMtWl\" style=\"\" rel=\"noopener\">announced by Cairo Governorate<\/a> <strong>: <\/strong><\/p>\n<ul>\n<li><strong>Public bus fares <\/strong>rose to <strong>EGP 9<\/strong> up from EGP 8 for regular buses and <strong>EGP 17<\/strong> up from EGP 15 for air-conditioned vehicles, <\/li>\n<li><strong>White taxi meters in Cairo will now start at EGP 10.5,<\/strong> up from EGP 9.5 and<strong> rising to EGP 2 per km.<\/strong><\/li>\n<li><strong>Minibus travel in Cairo <\/strong>will now cost<strong> EGP 14 <\/strong>up from EGP 12, and <strong>EGP 17<\/strong> up from EGP 15 for air-conditioned vehicles.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And that\u2019s not all: <\/strong>Elevated diesel prices will add an additional EGP 100 mn to the monthly operating cost of Egypt\u2019s railways, unnamed government sources told <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1847565512089153933\" style=\"\" rel=\"noopener\">Asharq Business<\/a>, adding that while there are no plans to raise ticket prices during the current fiscal year, prices may undergo a review next fiscal year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Domestic shipping prices are also expected to rise by 10-15%<\/strong> on the back of the fuel price hikes, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d8%a7%d9%84%d9%86%d9%82%d9%84-%d8%a7%d9%84%d8%af%d9%88%d9%84%d9%8a-10-15-%d8%a7%d8%b1%d8%aa%d9%81%d8%a7%d8%b9%d8%a7-%d9%85%d8%aa%d9%88%d9%82%d8%b9%d8%a7-%d9%81%d9%8a-%d8%aa%d9%83%d9%84%d9%81%d8%a9\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> quoted Abdel Aal Ali, advisor to the Egyptian International Freight Forwarding Association, as saying \u2014 he pointed to shipping between ports and industrial zones, farms, or warehouses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The price of gas supplied to power plants will also go up to USD 4 per 1 mn BTUs<\/strong>, up from USD 3, Electricity Minister Mahmoud Esmat said during a <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/10\/19\/1835606\" style=\"\" rel=\"noopener\">presse<\/a><a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/10\/19\/1835606\" style=\"\" rel=\"noopener\">r<\/a> yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Higher transport costs will mean costlier trips to the supermarket:<\/strong> HC Brokerage\u2019s Equity Research Head Nemat Choucri told EnterpriseAM that these increases would be reflected in Egyptians\u2019 grocery shopping trips, describing how higher diesel prices would translate into higher food transportation costs, and subsequently higher food and beverage prices. The elevated price of mazut will burden the industrial sector with higher production costs, especially following the recent electricity price hikes.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fuel\/\">fuel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653588\" 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=\"653588\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/sp-maintains-egypts-positive-credit-outlook-and-rating\/\">\r\n                            S&amp;P maintains Egypt\u2019s positive credit outlook and rating                        <\/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\/20\/sp-maintains-egypts-positive-credit-outlook-and-rating\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The rating agency pointed to \u201cthe potential for further improvements in Egypt\u2019s external and fiscal positions\u201d alongside its belief that the new post-float EGP will \u201chelp drive GDP growth and, over time, support fiscal consolidation\u201d as some of the main reasons behind its decision.<\/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>S&P also affirmed its B-\/B rating <\/strong>\u2014 six notches into junk territory \u2014 for Egypt\u2019s long- and short-term foreign and local currency sovereign credit. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>S&P\u2019s confidence in the country has been growing since the float of the EGP: <\/strong>The rating agency <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5246f884-5ccd-4d4c-b396-7f100a7217d8\/s&p-upgrades-egypt%E2%80%99s-credit-outlook-to-positive\" style=\"\" rel=\"noopener\">upgraded our outlook from stable to positive in March<\/a> shortly following the float of the EGP, citing \u201csignificant steps\u201d taken by authorities to address the country\u2019s macroeconomic imbalances as well as FX inflows, along with the central bank\u2019s decision to float the EGP.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A sooner-than-you-think credit rating upgrade could be in the cards: <\/strong>S&P says it could upgrade Egypt\u2019s credit rating if the net government and external debt falls considerably faster than forecasted. The rating agency says this could be achieved through accelerated deleveraging or uptick in FDI driven by the state\u2019s privatization push.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But so is a downgrade of our outlook \u2014 or even rating: <\/strong>The rating cautions that its outlook could be affected by the state straying from its path of macroeconomic reform, with specific reference to the flexibility of the exchange rate. A rating cut further into junk territory is also a possibility if high interest rates \u201cprompt the government to undertake a debt exchange that we consider to be distressed\u201d or if the rising geopolitical risks in the region start to have a larger effect on the country.<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sp-global-ratings\/\">S&amp;P Global Ratings<\/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=\"653590 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=\"653590\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/653590\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653590\" class=\"content-area-description single-story post-653590 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\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=\"653591\" 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=\"653591\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/unnamed-bidder-wants-49-of-raya-foods-for-usd-40-mn-2\/\">\r\n                            Unnamed bidder wants 49% of Raya Foods for USD 40 mn                        <\/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\/20\/unnamed-bidder-wants-49-of-raya-foods-for-usd-40-mn-2\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The offer will be presented to the company\u2019s board of directors and an independent financial advisor will be appointed. Raya stopped short of disclosing the name of the bidder.Raya Foods typically contributes c. 5% of the group\u2019s total revenues. <\/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>Market Reax: <\/strong>Raya Holding\u2019s share jumped 12.8% to EGP 3.44 at Thursday\u2019s close following the news.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investors have been showing a lot of interest in Egyptian food companies this month:<\/strong> The news came two days after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3239e19b-5957-4421-9ce2-fa09f16d54c4\/\" style=\"\" rel=\"noopener\">another major bid in the food sector<\/a> \u2014 Denmark-based Arla Foods has submitted a non-binding offer to acquire up to 100% of EGX-listed Domty. The offer values the dairy producer at USD 183 mn and has pushed Domty\u2019s shares up 40% in the two trading days since Tuesday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SPEAKING OF DOMTY- The company has postponed allowing Arla Foods to conduct its <\/strong><strong>due <\/strong><strong>diligence<\/strong>, until Arla responds to board members\u2019 inquiries regarding the potential acquisition, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1520.pdf\" style=\"\" rel=\"noopener\">disclosure to the EGX on Thursday (pdf)<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/domty\/\">Domty<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya-holding\/\">Raya Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653593\" 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=\"653593\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/almarai-expands-egypt-footprint-with-two-new-egp-1-bn-production-lines-for-subsidiary-beyti\/\">\r\n                            Almarai expands Egypt footprint with two new EGP 1 bn production lines for subsidiary Beyti                        <\/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\/20\/almarai-expands-egypt-footprint-with-two-new-egp-1-bn-production-lines-for-subsidiary-beyti\/\" 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\/20\/almarai-expands-egypt-footprint-with-two-new-egp-1-bn-production-lines-for-subsidiary-beyti\/')\">\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\/20\/almarai-expands-egypt-footprint-with-two-new-egp-1-bn-production-lines-for-subsidiary-beyti\/\">\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=Almarai expands Egypt footprint with two new EGP 1 bn production lines for subsidiary Beyti&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/almarai-expands-egypt-footprint-with-two-new-egp-1-bn-production-lines-for-subsidiary-beyti\/\">\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\/20\/almarai-expands-egypt-footprint-with-two-new-egp-1-bn-production-lines-for-subsidiary-beyti\/&title=Almarai expands Egypt footprint with two new EGP 1 bn production lines for subsidiary Beyti\">\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=Almarai+expands+Egypt+footprint+with+two+new+EGP+1+bn+production+lines+for+subsidiary+Beyti+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F20%2Falmarai-expands-egypt-footprint-with-two-new-egp-1-bn-production-lines-for-subsidiary-beyti%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\/20\/almarai-expands-egypt-footprint-with-two-new-egp-1-bn-production-lines-for-subsidiary-beyti\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1564.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653594\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/almarai-expands-egypt-footprint-with-two-new-egp-1-bn-production-lines-for-subsidiary-beyti\/1564-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1564.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1564.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1564.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1564.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653593\" class=\"content-area-description single-story post-653593 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-almarai tag-beyti tag-dairy tag-enterpriseam tag-food tag-investment-watch 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\/.23c4d850-fb51-4fda-a8ac-a502bf8eb5e9.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Say cheese: <\/strong>Saudi dairy giant Almarai inaugurated two new cheese production lines for its dairy and juice subsidiary Beyti, the Tawadul-listed company said in a <a target=\"_blank\" href=\"https:\/\/www.almarai.com\/en\/corporate\/media-center\/almarai-news\/almarai-beyti-production-lines\" style=\"\" rel=\"noopener\">statement<\/a>. The Savola Group-owned company framed the EGP 1 bn investment as part of its \u201cstrategic vision to expand its regional footprint\u201d and position in the F&B sector.<\/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 project got the thumbs up from the government:<\/strong> Industry and Transport Minister Kamel El Wazir \u2014 <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/mti.egypt\/posts\/pfbid0Sx2sqgxjnxsg3Vy3XCB5E5BwEnmzDFK3pRGvPQfq4PPaSgVE1ZtHnT6VboNE3ExFl\" style=\"\" rel=\"noopener\">who attended the opening ceremony alongside General Authority for Investment and Freezones boss Hossam Heiba<\/a> \u2014 described the project as \u201cparticularly significant for expanding local production and is part of the broader vision to position Egypt as a leading regional industrial hub.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>D\u00e9j\u00e0 vu? <\/strong>We <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c6850152-c60d-4288-897a-cf5ba0dd2af8\/gov%25e2%2580%2599t-wants-to-launch-over-usd-300-mn-worth-of-ppps-at-dekheila-port.-plus:-cairo-international-airport,-le-mans,-citibank,%253cmark%253e-beyti%253c%2Fmark%253e,-ci-capital\" style=\"\" rel=\"noopener\">first heard<\/a> about the two new production lines in September following a meeting between Agriculture Minister Alaa Farouk and Beyti CEO Mark Wyllie about the company\u2019s hopes of upping its investment in the country.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>The subsidiary is planning to up its exports to USD 50 mn in 2024, up from USD 35 mn previously.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Beyti CEO Mark Wyllie was our Manufacturer of the Month earlier this year.<\/strong> Check out the interview <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c149cc6e-3e21-4805-9338-d6fefbfa848a\/manufacturer-of-the-month:-beyti-ceo-mark-wyllie\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/almarai\/\">Almarai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beyti\/\">Beyti<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dairy\/\">dairy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653595\" 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=\"653595\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/ahmed-ghoneim-tapped-as-the-grand-egyptian-museums-new-ceo\/\">\r\n                            Ahmed Ghoneim tapped as the Grand Egyptian Museum\u2019s new CEO                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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      <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Ahmed+Ghoneim+tapped+as+the+Grand+Egyptian+Museum%E2%80%99s+new+CEO+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F20%2Fahmed-ghoneim-tapped-as-the-grand-egyptian-museums-new-ceo%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/ahmed-ghoneim-tapped-as-the-grand-egyptian-museums-new-ceo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1562.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653596\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/ahmed-ghoneim-tapped-as-the-grand-egyptian-museums-new-ceo\/1562-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1562.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1562.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1562.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1562.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653595\" class=\"content-area-description single-story post-653595 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-egyptair tag-enterpriseam tag-grand-egyptian-museum tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.270a5adb-0e2a-4edc-a46c-dd5923994bda.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>New GEM CEO: <\/strong>Prime Minister Moustafa Madbouly has appointed Ahmed Ghoneim as the CEO of the Grand Egyptian Museum (GEM) for a one-year term, according to an Tourism Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/gCMLSHkiLMzAUWen\/\" style=\"\" rel=\"noopener\">statement<\/a>. He previously served as the CEO of the National Museum of Egyptian Civilization, an advisor to Egypt's Trade Ministry on international trade and agreements, and as Egypt\u2019s cultural attache and education mission head in Germany and Austria, overseeing ten other countries between 2014 and 2018.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>GEM\u2019s trial operations of its main galleries began last week, offering visitors a preview of 12 curated exhibition halls. The trial phase is part of the museum\u2019s ongoing efforts to iron out any issues ahead of the museum\u2019s much-anticipated opening. Check out <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b9c7531a-ef25-458f-a401-4011ec309d31\/a-guide-through-time\" style=\"\" rel=\"noopener\">our guide<\/a> on what to expect from the trial operations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Taking over Ghoneim\u2019s post at the National Museum of Egyptian Civilization<\/strong> is Assistant Tourism Minister for Archaeological Affairs at the GEM Al Tayeb Abbas. <\/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>New head for EgyptAir In-Flight Services: <\/strong>EgyptAir Holding Chairman Yehia Zakaria has appointed Soheir Abdullah as acting chairman of the board and executive managing director of <a target=\"_blank\" href=\"https:\/\/www.egyptair-ifs.com\/ifs\/Board.htm\" style=\"\" rel=\"noopener\">EgyptAir In-Flight Services<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/PUNUG8v5NDGScwTk\/\" style=\"\" rel=\"noopener\">statement<\/a>. Abdullah held the position of chief flight attendant and head of the cabin crew at EgyptAir. She succeeds Hatem Mamdouh, who has held the position since 2022.<\/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\/egyptair\/\">EgyptAir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/grand-egyptian-museum\/\">Grand Egyptian Museum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653597 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=\"653597\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/653597\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653597\" class=\"content-area-description single-story post-653597 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicContactUs\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2301.jpeg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653598\" 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=\"653598\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/what-does-sinwars-death-mean-for-hamas\/\">\r\n                            What does Sinwar\u2019s death mean for Hamas?                        <\/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\/20\/what-does-sinwars-death-mean-for-hamas\/\" 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\/20\/what-does-sinwars-death-mean-for-hamas\/')\">\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\/20\/what-does-sinwars-death-mean-for-hamas\/\">\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=What does Sinwar\u2019s death mean for Hamas?&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/what-does-sinwars-death-mean-for-hamas\/\">\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\/20\/what-does-sinwars-death-mean-for-hamas\/&title=What does Sinwar\u2019s death mean for Hamas?\">\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=What+does+Sinwar%E2%80%99s+death+mean+for+Hamas%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F20%2Fwhat-does-sinwars-death-mean-for-hamas%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\/20\/what-does-sinwars-death-mean-for-hamas\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1557.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653599\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/what-does-sinwars-death-mean-for-hamas\/1557-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1557.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1557.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1557.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1557.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653598\" class=\"content-area-description single-story post-653598 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-energy tag-enterpriseam tag-gaza tag-last-nights-talk-shows tag-lebanon 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\/.a067b89f-cec0-4189-a0fd-56323990515a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What does Sinwar\u2019s death mean for Hamas? <\/strong>Hamas leader Yehya Sinwar was killed by Israeli troops on Thursday, becoming the second Hamas leader killed by Israel in a few months \u2014 Ismail Haniyeh was assassinated in July in Tehran. And while Sinwar\u2019s death will not bring about the end of Hamas, it would take the group 10 years to recover from its prolonged war with Israel, military expert Samir Farag told Salaat El Tahrir (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1053476349607797\" style=\"\" rel=\"noopener\">watch, runtime: 1:22<\/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>AND- Israel\u2019s attacks on Lebanon unlikely to stop before November:<\/strong> Farag doesn\u2019t expect Israeli Prime Minister Benjamin Netanyahu to stop the attacks on southern Lebanon before the US presidential elections on 5 November (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=603180512032502\" style=\"\" rel=\"noopener\">watch, runtime: 3:17<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- No connection between fuel price hikes and IMF review delay:<\/strong> The government\u2019s decision to raise fuel prices has no connection to the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/95bb1ee0-a38a-4b9e-93a8-2fb2ebd18a8d\/will-our-fourth-loan-review-with-the%253cmark%253e-imf%253c%2Fmark%253e-be-pushed-back-again%3F\" style=\"\" rel=\"noopener\">recently delayed IMF review<\/a>, cabinet spokesperson Mohamed El Homsani told Ala Mas\u2019ouleety\u2019s Ahmed Moussa (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=2268068630246984\" style=\"\" rel=\"noopener\">watch, runtime: 3:13<\/a>). The delayed meetings between government officials and fund officials are down to the IMF\u2019s own scheduling conflicts, El Homsani said, adding that he expects the meetings to take place next month. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fuel price hike will not impact subsidized bread: <\/strong>The government will cover the additional diesel costs for subsidized bread \u2014 around 30 EGP per sack of flour \u2014 to ensure that the price remains unchanged, Abdullah Ghorab, chief of the bakeries division of the General Federation of Chambers of Commerce told Moussa (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1216649656059591\" style=\"\" rel=\"noopener\">watch, runtime: 4:29<\/a>). The price of non-subsidized bread will go up in tandem with the additional costs, he said, adding that the rise is expected to be modest. A meeting will be held with bread producers within the next two days to determine the exact increase and announce the new prices, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ Read more on the latest fuel price hikes in the news well, above.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653600\" 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=\"653600\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/reuters-breaks-down-the-global-impact-of-egypts-increased-energy-imports\/\">\r\n                            Reuters breaks down the global impact of Egypt\u2019s increased energy imports                        <\/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\/20\/reuters-breaks-down-the-global-impact-of-egypts-increased-energy-imports\/\" 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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Egypt's oil imports hit their highest levels since at least 2016 at 255k barrels per day in September.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653602\" 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=\"653602\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/zafarana-wind-farm-sale-pushed-back-plus-news-from-eastern-company-rameda-fawry\/\">\r\n                            Egypt\u2019s Zafarana wind farm sale pushed back?                        <\/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\/20\/zafarana-wind-farm-sale-pushed-back-plus-news-from-eastern-company-rameda-fawry\/\" 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\/20\/zafarana-wind-farm-sale-pushed-back-plus-news-from-eastern-company-rameda-fawry\/')\">\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\/20\/zafarana-wind-farm-sale-pushed-back-plus-news-from-eastern-company-rameda-fawry\/\">\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=Zafarana wind farm sale pushed back? PLUS: News from Eastern Company, Rameda, Fawry&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/zafarana-wind-farm-sale-pushed-back-plus-news-from-eastern-company-rameda-fawry\/\">\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\/20\/zafarana-wind-farm-sale-pushed-back-plus-news-from-eastern-company-rameda-fawry\/&title=Zafarana wind farm sale pushed back? PLUS: News from Eastern Company, Rameda, Fawry\">\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=Zafarana+wind+farm+sale+pushed+back%3F+PLUS%3A+News+from+Eastern+Company%2C+Rameda%2C+Fawry+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F20%2Fzafarana-wind-farm-sale-pushed-back-plus-news-from-eastern-company-rameda-fawry%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\/20\/zafarana-wind-farm-sale-pushed-back-plus-news-from-eastern-company-rameda-fawry\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1560.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653603\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/zafarana-wind-farm-sale-pushed-back-plus-news-from-eastern-company-rameda-fawry\/1560-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1560.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1560.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1560.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1560.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653602\" class=\"content-area-description single-story post-653602 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-cit tag-earnings tag-eastern-company tag-energy tag-enterpriseam tag-fawry tag-fintech tag-healthcare tag-huawei tag-insurance tag-jti-nakhla-tobacco tag-manufacturing tag-renewables tag-sidi-kerir-petrochemicals tag-telecom-egypt tag-tobacco 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\/.d6f3dd6b-7dcd-4018-a839-a7582389ee54.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PRIVATIZATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Gov\u2019t postpones sale of Zafarana wind farm and Beni Suef power plant:<\/strong> The Madbouly government has chosen to postpone the offering of stakes in the 545-MW Zafarana wind farm and the Beni Suef power plant to foreign investors, Electricity Minister Mahmoud Esmat reportedly told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/power\/57326\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B1%D8%AC%D8%A6-%D8%B7%D8%B1%D8%AD-%D9%85%D8%AD%D8%B7%D8%AA%D9%8A-%D8%A7%D9%84%D8%B2%D8%B9%D9%81%D8%B1%D8%A7%D9%86%D8%A9-%D9%88%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D8%A8%D9%86%D9%8A-%D8%B3%D9%88%D9%8A%D9%81\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> yesterday. The government has also inked an agreement with investors to establish hybrid wind and solar power stations at the Zafarana wind farm, Esmat said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The Madbouly government was reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e02aa4d2-5b8a-4fc3-b530-cafc8c877ff7\/gov%25e2%2580%2599t-to-scrap%253cmark%253e-beni-suef-power-plant%253c%2Fmark%253e-sale%3F\" style=\"\" rel=\"noopener\">reconsidering<\/a> its decision to sell the Siemens-built Beni Suef power plant after negotiations with potential investors stalled following the state\u2019s suggestion that the buyer be responsible for securing the necessary gas supplies to power the plant. Meanwhile, the Zafarana wind farm had been reported to be the subject of ongoing negotiations <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7e6beddd-7ce3-47f0-945f-ed88a70605dc\/madbouly-warns-of-entering-a-war-economy-mode\" style=\"\" rel=\"noopener\">earlier this month<\/a>, after having been added to the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a94808c5-7a0c-4027-a786-804f2dc35954\" style=\"\" rel=\"noopener\">privatization shortlist<\/a> in 2023.<\/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\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Turkish clothing manufacturer wants to expand locally:<\/strong> Readymade garments manufacturer Akay for Readymade Garments is planning to gradually invest EGP 1.5 bn over the next six years as part of its expansion agenda, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/10\/17\/1834788\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing the company\u2019s general manager. The plan involves setting up a new factory in a freezone in Port Said to double the apparel maker\u2019s production capacity, with an eye on exporting to foreign markets.<\/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- JTI, Eastern<\/strong><strong> Company renew tobacco-making contract:<\/strong> Tobacco distributor JTI-Nakhla has renewed a three-year contract with Eastern Company \u2014 the country\u2019s biggest tobacco maker and one of only two licensed to manufacture tobacco products \u2014 to produce JTI\u2019s products at Eastern Company\u2019s production facilities, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1525.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\">\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- A new cold beverage plant in the works:<\/strong> Cold beverage maker <a target=\"_blank\" href=\"https:\/\/wicegypt.com\/\" style=\"\" rel=\"noopener\">Alwaad<\/a><a target=\"_blank\" href=\"https:\/\/wicegypt.com\/\" style=\"\" rel=\"noopener\">Investment<\/a> \u2014 the company behind kiosk favorite <a target=\"_blank\" href=\"https:\/\/wicegypt.com\/buzz\/\" style=\"\" rel=\"noopener\">Buzz<\/a> \u2014 is planning to inaugurate a new factory in March 2025, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/10\/17\/1834481\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing company exports head Mahmoud Fouad. The new plant will produce 14.5 mn units a year \u2014 8 mn bottles and 6.5 mn cans. The company directs 40% of its output to foreign markets and the remaining 60% is distributed to the company\u2019s agents operating in the local 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\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EGPC has no objections to TAG Oil\u2019s bid for a new Western Desert concession:<\/strong> Canada-based oil and gas company <a target=\"_blank\" href=\"https:\/\/tagoil.com\/\" style=\"\" rel=\"noopener\">TAG Oil<\/a> secured a no-objection letter from the Egyptian General Petroleum Company (EGPC) for its binding proposal submitted in 2Q 2024 to acquire a 2k km concession in the Western Desert, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/tagoil.com\/2024\/10\/15\/tag-oil-provides-updates-on-operations-and-strategic-new-egypt-acquisition-to-expand-unconventional-and-conventional-acreage-position\/\" style=\"\" rel=\"noopener\">website<\/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\">PHARMA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rameda wants to expand its product offering: <\/strong>Local pharma player Rameda is planning on investing EGP 2 bn in the coming period to acquire new medicines, Rameda CFO\/COO Mahmoud Fayek told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/10\/19\/1835525\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The company is in negotiations over acquiring 10-15 new pharma products, with the acquisition coming as part of the company\u2019s plan to expand its operations in the Egyptian market and boost exports, Fayek said. <\/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\">EXPANSION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Huawei sets up new HQ in Cairo:<\/strong> CIT Minister Amr Talaat oversaw the opening of Chinese tech giant Huawei\u2019s new office in Cairo, which is part of the company\u2019s strategy to expand its business in Egypt, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02UdZGeggREZzxRYQ6So2Hjq2vZXZgY4LbQxTRhZdSms21UU6S6495RtoaNbBuk83Gl\" style=\"\" rel=\"noopener\">statement<\/a>. The new office will house all of Huawei's operations in Egypt, including its telecom networks, cloud services, and digital solutions.<\/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\">TELECOMS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Colt and Telecom Egypt to build internet transit nodes: <\/strong>UK-based telecom company Colt Technology Services partnered with Telecom Egypt to launch two high-speed Internet transit nodes in Cairo and Alexandria hosted in Telecom Egypt\u2019s data centers, according to a <a target=\"_blank\" href=\"https:\/\/www.colt.net\/resources\/colt-partners-with-telecom-egypt\/\" style=\"\" rel=\"noopener\">company statement<\/a>. The move will utilize Telecom Egypt\u2019s international infrastructure to enhance global internet access \u2014 enabling both sides to \u201coffer robust, high-performance digital services to customers across Africa, Asia, and the Middle East, significantly enhancing the end-to-end internet experience.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">FINTECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong> <strong>Fawry uncovers new medical ins. offering: <\/strong>Local fintech giant Fawry in partnership with GIG Ins. have launched a new medical ins. product \u2014 dubbed Sehetak Fawry \u2014 through Fawry\u2019s app and prepaid cards, Fawry said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1527.pdf\" style=\"\" rel=\"noopener\">press release (pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1527.pdf\" style=\"\" rel=\"noopener\">)<\/a>. The product offers inpatient coverage up to EGP 25k, no-charge tele-health consultations, and discounted inpatient and outpatient services from several healthcare providers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This isn\u2019t Fawry\u2019s first ins. rodeo: <\/strong>The new offering follows Fawry offering over 700k digital ins. policies through its Fawry Ins. Brokerage subsidiary, according to the statement.<\/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-<\/strong> <strong>Thunes has landed in Egypt:<\/strong> Singapore-headquartered cross-border payments company <a target=\"_blank\" href=\"https:\/\/www.thunes.com\/\" style=\"\" rel=\"noopener\">Thunes<\/a> has expanded its direct global network into Egypt, the company said in a <a target=\"_blank\" href=\"https:\/\/www.thunes.com\/news\/thunes-expands-its-direct-global-network-into-egypt\/\" style=\"\" rel=\"noopener\">statement<\/a>. Customers can now send remittances into Egyptian bank accounts and mobile wallets \u2014 with payouts in EGP and USD.<\/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\">EARNINGS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sidi Kerir P<\/strong><strong>etrochemicals bottom line inched up 4.1% y-o-y in 9M 2024<\/strong> to EGP 1.9 bn, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1536.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The company\u2019s revenues for the period saw a 2.9% y-o-y uptick to EGP 10 bn.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eastern-company\/\">Eastern Company<\/a>\n                <!-- <span 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href=\"https:\/\/enterpriseam.com\/egypt\/tag\/insurance\/\">insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jti-nakhla-tobacco\/\">JTI-Nakhla Tobacco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sidi-kerir-petrochemicals\/\">Sidi Kerir Petrochemicals<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecom-egypt\/\">Telecom Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tobacco\/\">tobacco<\/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=\"653604\" 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=\"653604\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/ecb-trims-interest-rate-for-third-time-amid-cooling-inflation\/\">\r\n                            ECB trims interest rate for third time amid cooling inflation                        <\/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\/20\/ecb-trims-interest-rate-for-third-time-amid-cooling-inflation\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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alt=\"\" data-attachment-id=\"653605\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/ecb-trims-interest-rate-for-third-time-amid-cooling-inflation\/591-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/591.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"591.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/591.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/591.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653604\" class=\"content-area-description single-story post-653604 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-european-central-bank 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\/.d48d6a80-f2ba-4762-88ae-69482246d593.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The European Central Bank (ECB) lowered interest rates<\/strong><strong> on Thursday<\/strong><strong> for the third time this year<\/strong>, cutting its key deposit rate by 25 bps to 3.25%. The ECB <a target=\"_blank\" href=\"https:\/\/www.ecb.europa.eu\/press\/pr\/date\/2024\/html\/ecb.mp241017~aa366eaf20.en.html\" style=\"\" rel=\"noopener\">said<\/a> the move aims to curb potential for \u201cdownside surprises\u201d in the eurozone economy. The move is the bank\u2019s first back-to-back rate cut in 13 years, five weeks after a previous rate cut. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The context:<\/strong> Inflation dropped below the eurozone\u2019s 2% target to 1.7% in September, its lowest level in three years.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Central banks are <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/11308a9d-2e03-48e6-8e47-dcd5d6c8e529\" style=\"\" rel=\"noopener\">pivoting toward cutting rates<\/a> as inflation slows down, with the US Federal Reserve spearheading the global policy-easing cycle, cutting interest rates by half a percentage point in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8dc5d145-feeb-4c95-9f82-defa30fb5838\/\" style=\"\" rel=\"noopener\">September<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rate cut is expected to spur growth for the region<\/strong> by giving \u201ca boost to the German [and wider eurozone] economy, inspiring consumer spending, encouraging investment, and ultimately stimulating the economy,\u201d Joe Nellis, an adviser to the financial consultancy MHA, told <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/business\/2024\/oct\/17\/european-central-bank-cuts-interest-rates-inflation-falls-below-2-percent-eurozone\" style=\"\" rel=\"noopener\">The Guardian<\/a>. Germany, the region\u2019s largest economy, faces the risk of a second year of contraction.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>If inflation remains on its downward slide, an aggressive cut could be on the table.<\/strong> \u201cA 50 bps cut at the next meeting in December is a possibility if the two inflation and PMI prints of October and November continue to surprise on the downside,\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/live-blog\/2024-10-17\/ecb-policy-decision#:~:text=%E2%80%9CA%2050%2Dbp,market%20movements.%22\" style=\"\" rel=\"noopener\">said<\/a> Douglas Lytle, an editor at Bloomberg Intelligence. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ECB president Christine Lagarde <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ecb.europa.eu\/press\/press_conference\/monetary-policy-statement\/2024\/html\/ecb.is241017~59ad385bab.en.html\" style=\"\" rel=\"noopener\">signaled<\/a><\/strong><strong> that the bank is unlikely to stick to \u201ca <\/strong><strong>particular rate path,\u201d <\/strong>only keeping rates \u201csufficiently restrictive for as long as necessary\u201d to achieve its 2% target.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some pundits concur<\/strong>, seeing as the ECB \u201cwill likely want to keep flexibility about a December cut and will push back against the idea that this is the start of consecutive cuts,\u201d ING said in a <a target=\"_blank\" href=\"https:\/\/think.ing.com\/articles\/rates-spark-markets-positioned-for-back-to-back-ecb-cuts\/\" style=\"\" rel=\"noopener\">note<\/a> ahead of the decision.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,144<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3% (YTD: +21.1%)<\/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>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 48.57<\/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 48.71<\/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 48.58<\/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-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\">11,907<\/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: -0.5%)<\/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\">9,288<\/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\">+0.1% (YTD: -3.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width: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\">4,469<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +10.1%)<\/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>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\">5,865<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +23.0%)<\/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>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\">8,358<\/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: +8.1%)<\/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>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,986<\/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: +10.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 73.06<\/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\">-1.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2.26<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-3.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,730<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 68,281<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +61.5%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 1.3% at Thursday\u2019s close<\/strong> on turnover of EGP 3.8 bn (8.9% below the 90-day average). Local investors were the sole net sellers. The index is up 21.1% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Abu Qir Fertilizers (+2.3%), Oriental Weavers (+2.2%), and Egypt Kuwait Holding -USD (+1.6%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Juhayna (-11.5%), Eastern Company (-6.3%), and Palm Hills Development (-5.5%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/european-central-bank\/\">European Central Bank<\/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<section id=\"653606\" 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=\"653606\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/el-sisi-underscores-economic-collaboration-at-brics-business-forum-abdelatty-warns-of-broader-conflict-risk\/\">\r\n                            El Sisi underscores economic collaboration at Brics Business Forum + Abdelatty warns of broader conflict risk                        <\/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\/20\/el-sisi-underscores-economic-collaboration-at-brics-business-forum-abdelatty-warns-of-broader-conflict-risk\/\" target=\"_blank\">\n                    Open in new tab    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class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/el-sisi-underscores-economic-collaboration-at-brics-business-forum-abdelatty-warns-of-broader-conflict-risk\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1555.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653607\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/el-sisi-underscores-economic-collaboration-at-brics-business-forum-abdelatty-warns-of-broader-conflict-risk\/1555-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1555.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1555.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1555.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1555.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653606\" class=\"content-area-description single-story post-653606 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-abdel-fattah-el-sisi tag-diplomacy tag-enterpriseam tag-foreign-ministry tag-gaza tag-iran tag-lebanon tag-middle-east-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.4f5f3e74-0ea5-464d-b2c9-0e82cf40b80f.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt seeks deeper Brics collab:<\/strong> President Abdel Fattah El Sisi expressed his appreciation for Russian President Vladimir Putin's efforts to strengthen Brics cooperation during his speech at the Brics Business Forum in the Russian city of Kazan on Friday (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=DfoGMSOSiQA&ab_channel=%D8%B1%D8%A6%D8%A7%D8%B3%D8%A9%D8%AC%D9%85%D9%87%D9%88%D8%B1%D9%8A%D8%A9%D9%85%D8%B5%D8%B1%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9\" style=\"\" rel=\"noopener\">watch, runtime: 6:28<\/a>). He also highlighted that the forum is a vital platform for fostering trade, investment, and joint projects that will drive economic growth among Brics countries.<\/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>Navigating global challenges:<\/strong> The president underscored the forum\u2019s importance as the world faces \u201cunprecedented international challenges and crises,\u201d emphasizing the need for collaborative action.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>He also pointed to the role of the private sector and business councils<\/strong> in driving sustainable development, calling the forum \u201can important platform\u201d for exploring investment opportunities and economic integration among Brics nations. El Sisi noted the significant potential in sectors like renewable energy, digital transformation, and manufacturing, which can support global economic growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A call for tangible outcomes:<\/strong> El Sisi concluded his remarks by stressing the need for concrete results from the Brics forum, saying that he hoped it would \u201cyield tangible outcomes that enhance investments and economic cooperation among our nations.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But a unified currency isn\u2019t likely to be on that list (yet):<\/strong> Putin <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/10\/19\/putin-says-brics-not-the-west-will-drive-global-economic-growth.html\" style=\"\" rel=\"noopener\">said<\/a> on Friday that creating a unified currency for Brics members would be \u201cpremature.\u201d Bloc members are in discussions over the use of digital currencies for investment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>The bloc \u2014 which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/625a6a24-800b-46c9-b6ea-6a1158ee3640\/from-next-year,-egypt-will-officially-be-a-bric\" style=\"\" rel=\"noopener\">welcomed Egypt<\/a>, Saudi Arabia, the UAE, Iran, Ethiopia, and Argentina at the beginning of the year \u2014 has recently seen Russia champion the idea of setting up <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/647550cc-d91a-4aaf-b19c-179e0363316a\/russia-wants-to-de-dollarize%253cmark%253e-brics%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">a new Brics payment system<\/a> to push back against dollarization, help countries avoid sanctions, and limit the disciplinary influence of Western financial institutions. <\/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\">IRANIAN FOREIGN MINISTER TOUCHES DOWN IN CAIRO-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egyptian, Iranian foreign ministers talk de-escalation:<\/strong> Foreign Minister Badr Abdelatty met with his Iranian counterpart Abbas Aragchi last week in the first visit of an Iranian official to Cairo in over a decade, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0WbaCLFtC3QFcUUmfEsedQ2QPhguPY7VwjUSVHBjbh3RbczjimXfd2BGFHoqHWdijl\" style=\"\" rel=\"noopener\">ministry statement<\/a>. The talks focused on ongoing regional tensions, particularly in Gaza, Lebanon, and the Red Sea, and the need to prevent further escalation and stop the region from slipping into a broader conflict.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Iranian foreign minister also <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid0uYqybFP6YrUCpvqxAf78b6fsKFoekNkVVz84wokT83MY5hcxgBuAF4upHA1yHkAVl\" style=\"\" rel=\"noopener\">met with President El Sisi<\/a><\/strong>, with the meeting getting significant coverage in the international media: <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f6ffa8c9-229a-4d9a-a54b-52397edac8ab\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/irans-foreign-minister-makes-rare-trip-egypt-2024-10-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/egypt-iran-israel-gaza-lebanon-c067019a322f82e2caffbeb15b1a9397\" style=\"\" rel=\"noopener\">AP<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abdelatty<\/strong><strong> joined <\/strong><strong>Al Qahera News <\/strong>for an exclusive interview (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=qbqEtr2sDkY&ab_channel=AlQaheraNews-%D8%A7%D9%84%D9%82%D8%A7%D9%87%D8%B1%D8%A9%D8%A7%D9%84%D8%A5%D8%AE%D8%A8%D8%A7%D8%B1%D9%8A%D8%A9\" style=\"\" rel=\"noopener\">watch, runtime: 1:15:05<\/a>), where he touched on Egypt\u2019s ongoing mediation efforts alongside the US and Qatar, aiming for a ceasefire and humanitarian aid access in Gaza. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Concern over further escalations:<\/strong> Abdelatty expressed deep concern about the situation, warning that \u201cany miscalculation could lead to a devastating regional war at a time when we desperately need to focus on development.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On mediation efforts to secure a ceasefire: <\/strong>\u201cWe came close multiple times to an agreement that would ensure the release of all hostages and establish a full, unconditional ceasefire,\u201d Abdelatty said, adding that \u201cevery time we were on the verge of an agreement, Israel introduced unrealistic demands.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Solidarity with Jordan against displacement:<\/strong> Abdelatty reaffirmed Egypt\u2019s stance against any attempts to displace Palestinians to neighboring countries, including Jordan. \u201cWe categorically reject and will not allow any plans to resolve the Palestinian issue at the expense of Egypt or Jordan,\u201d he asserted, emphasizing Egypt\u2019s commitment to preventing any attempts to forcibly relocate Palestinians.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Strategic balance:<\/strong> \u201cEgypt has strategic partnerships with all major global powers, despite their differences,\u201d said Abdelatty, pointing to ongoing dialogues with the US, the EU, China, and Russia, as well as Brazil and India and future dialogues with Germany and Spain, underscoring Egypt\u2019s diplomatic success in maintaining strategic balance and fostering cooperation and good relations across diverse geopolitical spheres. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s continued commitment to Lebanon:<\/strong> Abdelatty also assured his Lebanese counterpart Abdallah Bou Habib in a phone call on Friday that Egypt will continue providing all necessary support during Lebanon\u2019s current crisis, according to a ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid0drU9fLdbyqcnzCYysVcbdSrzfWa9WtizQrzQ3he6gijeThyV6TTu9ze7u8ty7cr2l\" style=\"\" rel=\"noopener\">statement<\/a>. Abdelatty highlighted the arrival of a new shipment of 22 tons of Egyptian relief aid to Beirut, bringing the total amount of aid disbursed by Egypt to 44 tons.<\/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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-ministry\/\">Foreign Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653608\" 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\/20\/653608\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653608\" class=\"content-area-description single-story post-653608 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>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>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>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>30 October (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ceo-women.com\/#\" style=\"\">The CEO Women 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 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>7-10 April 2025 (Monday-Thursday) : <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.efghldg.com\/en\/conferences\" style=\"\">EFG Hermes One on One<\/a><\/span><span style=\"font-weight:400;\"> conference, Dubai, UAE. <\/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 style=\"font-weight:400;\"> expected to take place.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>New GEM CEO | Zafarana sale pushed back | Positive outlook | Unchanged rates.<\/p>\n","protected":false},"featured_media":653579,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-653578","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"58cf6484-5ca2-46ae-b571-e517908b2d65","teaser":"New GEM CEO | Zafarana sale pushed back | Positive outlook | Unchanged rates.","photo_url":"https:\/\/ent.news\/2024\/10\/1573.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>Egypt hikes fuel prices by up to 17% - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-hikes-fuel-prices-by-up-to-17\/\" \/>\n<meta property=\"og:locale\" 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