{"id":653738,"date":"2024-10-22T00:00:00","date_gmt":"2024-10-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=653738"},"modified":"2025-12-18T00:45:27","modified_gmt":"2025-12-18T00:45:27","slug":"egypt-wants-more-time-to-implement-imf-reforms","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-wants-more-time-to-implement-imf-reforms\/","title":{"rendered":"Egypt wants more time to implement IMF reforms"},"content":{"rendered":"<section id=\"653740\" 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=\"653740\">\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\/22\/govt-wants-more-time-to-implement-the-imfs-reforms\/\">\r\n                            Gov\u2019t wants more time to implement the IMF\u2019s reforms                        <\/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\/22\/govt-wants-more-time-to-implement-the-imfs-reforms\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-attachment-id=\"653741\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/govt-wants-more-time-to-implement-the-imfs-reforms\/1845-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1845.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1845.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1845.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1845.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653740\" class=\"content-area-description single-story post-653740 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-imf 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\/.0b6febf2-5de9-46a6-ba66-ec44a844ea84.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morni<\/strong><strong>ng, all.<\/strong> We have a packed issue for you this morning led by news that the Madbouly government wants more time to implement the economic reforms put forward by the IMF and the FRA giving Beltone Financial Holding and Italy\u2019s CRIF Ratings the greenlight to set up the country\u2019s second credit rating agency. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT FIRST- Please join us extending our heartfelt sympathies to the Allam family on the <\/strong><strong>passing of May Essam Allam<\/strong>, beloved sister of our friends Hassan Essam Allam and Amr Essam Allam (the CEO and co-CEO, respectively, of Hassan Allam Holding) and of Mariam Essam Allam. May (1991-2024) passed after a long and courageous battle with cancer. She was a remarkable woman whose grace, resilience, and courage touched all of those who knew her. May she rest in peace. <\/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- Egypt asks IMF for more time to implement reforms:<\/strong> The Madbouly government has reportedly asked the International Monetary Fund for an extension on the timeline for the implementation of economic reforms that were agreed upon as part of our loan program, an anonymous government official told <a target=\"_blank\" href=\"https:\/\/cnnbusinessarabic.com\/economy\/85116\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B7%D9%84%D8%A8-%D9%85%D8%AF-%D8%A3%D8%AC%D9%84-%D8%AA%D9%86%D9%81%D9%8A%D8%B0-%D8%A5%D8%B5%D9%84%D8%A7%D8%AD%D8%A7%D8%AA-%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D9%86%D9%82%D8%AF-%D9%81%D9%85%D8%A7-%D9%87%D9%8A-%D8%A7%D9%84%D8%A5%D8%AC%D8%B1%D8%A7%D8%A1%D8%A7%D8%AA%D8%9F\" style=\"\" rel=\"noopener\">CNN Business Arabic<\/a>. The reforms will still be implemented, \u201cbut over a longer time frame,\u201d the outlet quotes the official as saying.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We may have an idea of which reforms the gov\u2019t would want to put off: <\/strong>The reforms Egypt is looking to postpone implementing are the ones that would represent the biggest burden on Egyptian households, Capital Economics\u2019 James Swanston told the outlet, pointing to reforms that have to do with lifting subsidies. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> President Abdel Fattah El Sisi <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/88de165a-280d-4372-8524-5f1e95099193\/egypt-may-reevaluate-imf-loan-agreement-as-reform-program-amps-up-the-pressure\" style=\"\" rel=\"noopener\">signaled that Egypt may reevaluate<\/a> its agreement with the IMF as a result of current economic pressures, saying on Sunday that \u201cif this challenge forces me to place unbearable pressure on the public, we must review the situation with the IMF.\u201d <\/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=\"wwtt3\"><\/a> <strong>#2- A lot of new hospitals incoming: <\/strong>The government is currently studying offers from local and foreign investors to build hospitals on ten plots of land across the country, Health Ministry Spokesperson Hossam Abdel Ghaffar told <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/AsharqbEGY\/posts\/pfbid031Awr3fQAuaZXrBEZthCN45Ko5eH6bRQEMpkAwdjkQkNM4ZnfcwpCWvD85VhyR9oFl?rdid=wL3jE8BcNvDSCCbK\" style=\"\" rel=\"noopener\">Asharq Business<\/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\"><a id=\"wwtt4\"><\/a> <strong>#3- A new poverty index: <\/strong>The Planning Ministry is set to launch a national multidimensional poverty index, Planning, Economic Development, and International Cooperation Minister Rania Al Mashat <a target=\"_blank\" href=\"https:\/\/moic.gov.eg\/news\/1756?fbclid=IwZXh0bgNhZW0CMTAAAR3pv8-ZpWBNFcUv1prVI9RWUK1GnZtBBvz1F6kxgXup4lky-1xxFp1tPDs_aem_ZbUXZbQeEVylkY-DV40Xqw\" style=\"\" rel=\"noopener\">said during a roundtable<\/a> yesterday without providing a timeline. The index will \u201cguide strategies aimed at reducing poverty rates, strengthening national capacities regarding multidimensional poverty data, and ensuring the issuance of high-accuracy quantitative and qualitative indicators.\u201d <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s been some time since we\u2019ve had an official poverty measure: <\/strong>State statistics agency Capmas hasn\u2019t published its biennial income and expenditure survey \u2014 which included poverty rates \u2014 since <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ae9093b-0f9e-470a-91ff-6ac26a123a87\/egy%5B\" style=\"\" rel=\"noopener\">2020<\/a>. The latest survey showed the poverty rate falling for the first time in two decades in the fiscal year 2019-2020, with 29.7% of the population living below the poverty line.<\/p><p class=\"tag-border-left\">FACT CHECK- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#1- Car import quotas do not exist:<\/strong> There is no such a thing as car import quotas set by the government, the cabinet said in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0C2YXRFc7ypffKQDvR5Piat1bhK7VxhiD4TPuZHB3722wUfQtbNuDTWW6CdjR3ErNl\" style=\"\" rel=\"noopener\">statement<\/a> in response to media reports claiming that the government plans to cut the monthly car import quota to 8k per month from 10k previously. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Then what\u2019s up with the auto market? <\/strong>The process of importing cars into the country is pretty complex, one source in the trade sector told us, adding that the process is going through various channels and taking into account the availability of FX.<\/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- Feerum Egypt hasn\u2019t backed out of the grain silo factory:<\/strong> The Egyptian arm of the Polish grain silo manufacturer Feerum has not withdrawn its investment from its planned EGP 1.6 bn grain silo project with Egyptian construction and engineering firm Samcrete and the state-owned Egyptian Holding Company for Silos and Storage, Feerum board member Ahmed El Mofty told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/10\/21\/1836170\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. He added that the company is set to hold a meeting with Supply Minister Sherif Farouk next Sunday to get final approval for its grain silo manufacturing plant in East Port Said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The backstory: <\/strong>Earlier this week, local media reported that Feerum would be <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d236a163-2eb6-43ad-9762-cafcf639553c\/poland%25e2%2580%2599s-feerum-allegedly-pulls-out-of-grain%253cmark%253e-silo%253c%2Fmark%253e-factory\" style=\"\" rel=\"noopener\">pulling out of its grain silo<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d236a163-2eb6-43ad-9762-cafcf639553c\/poland%25e2%2580%2599s-feerum-allegedly-pulls-out-of-grain%253cmark%253e-silo%253c%2Fmark%253e-factory\" style=\"\" rel=\"noopener\">project<\/a> after the Supply Ministry canceled an order for a silo, reportedly hampering negotiations with local banks over financing. The company had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e357004-8015-4344-ba45-46118ea47d44\/astrazeneca-to-nearly-double-local-pill-production-by-2028-as-part-of-usd-50-mn-plan.-plus:-baic-group,-fiat-%2B-dynamic-distribution,-capricorn,-jaz-hotel-group,-ferrum-egypt,-nextera,-makanak,-melee,-city-lab\" style=\"\" rel=\"noopener\">been in talks with<\/a> the Commercial International Bank, Banque Misr, the National Bank of Egypt, and First Abu Dhabi Bank to secure an EGP 1.8 bn loan to help fund the factory, which is set to cost EGP 2.3 bn.<\/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=\"wwtt2\"><\/a> <strong>#1- It\u2019s day one of the annual Brics Summit in Russia: <\/strong>The heads of Brics nations \u2014 including President Abdel Fattah El Sisi \u2014 are in the Russian city of Kazan for the three-day <a target=\"_blank\" href=\"https:\/\/brics-russia2024.ru\/en\/summit\/\" style=\"\" rel=\"noopener\">Brics Summit<\/a> to discuss economic cooperation, trade, and global governance.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Keep your ears open for some diplomacy developments:<\/strong> During his time in Russia, El Sisi is expected to <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\">meet with his Russian counterpart Vladimir Putin<\/a> and with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b3274b02-7dd6-45dc-a72d-9864c414178b\/imf,-world-bank-annual-meetings-kick-off-today\" style=\"\" rel=\"noopener\">Iranian President Masoud Pezeshkian<\/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- It\u2019s day two of the World Bank and IMF annual meetings: <\/strong>The American capital is busier than usual today, with the world\u2019s finance ministers, central bank governors, and other big names in finance and policy in town for the six-day <a target=\"_blank\" href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/annual\" style=\"\" rel=\"noopener\">International Monetary Fund and World Bank Group Annual Meetings<\/a>. The meetings kicked off yesterday and will run until Saturday. Check out the full schedule <a target=\"_blank\" href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/annual\/schedule\" style=\"\" rel=\"noopener\">on the event\u2019s official website<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What to expect: <\/strong>Yesterday\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/98e95893-194e-4251-b80e-f365d28bfbb7\/global-economy-on-the-edge:-high-stakes-at-the-world-bank-%2F-imf-annual-meetings\" style=\"\" rel=\"noopener\">Planet Finance<\/a> laid out the big themes to look out for and the global challenges structuring the conversation.<\/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- We are in for another cool day in the capital<\/strong>, with a high of 28\u00b0C and a low of 20\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s more or less the same in Alexandria<\/strong>, with a high of 27\u00b0C and a low of 21\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>Falak Startups is hosting a Fund Manager Masterclass in Cairo from 10-12 <\/strong><strong>November<\/strong>, targeting emerging fund managers, entrepreneurs, and angel investors. The three-day, EBRD-supported event will take you through everything you need to know about VC funds from raising funds to successfully exiting companies. Early registration is available until 1 November through the <a target=\"_blank\" href=\"https:\/\/docs.google.com\/forms\/d\/e\/1FAIpQLSdklpbIPekC-RnvFTuhrvHomjv_jioD4rxoTupeATFTCFJxJw\/viewform\" style=\"\" rel=\"noopener\">link<\/a> shared on Falak Startups\u2019 LinkedIn account. <\/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>The US elections and attempts towards a ceasefire in Gaza and Lebanon<\/strong> are once again pushing business news to the bottom of digital front pages. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US Secretary of State Antony Blinken\u2019s return to the Middle East in hopes of securing a ceasefire <\/strong>\u2014 for the eleventh time \u2014 is getting attention, as other US officials held talks in Beirut for conditions for a ceasefire. It\u2019s not clear where Blinken will be holding ceasefire talks in the region. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The situation on the ground:<\/strong> Israel continued to strike Beirut and Syria yesterday, killing at least four near one of Lebanon\u2019s largest public hospitals and two in a missile attack on a car in Syria. Crowds of Palestinians were evacuated from the Jabaliya refugee camp, where around 400 people have been killed over the past two weeks, while over in Lebanon, Israel is setting its sights on a hospital it says houses Hezbollah money \u2014 a claim yet to be backed up by any sort of evidence. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-intensifies-offensive-gaza-lebanon-after-hamas-leaders-death-2024-10-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-21\/blinken-takes-off-in-11th-attempt-to-reach-a-mideast-cease-fire?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/world\/live-news\/israel-iran-lebanon-gaza-war-10-21-24-intl-hnk#cm2jihxuu00053b6n5ayst5h5\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2024\/oct\/21\/israel-claims-hezbollah-bunker-under-beirut-hospital-holds-millions-in-cash\" style=\"\" rel=\"noopener\">The Guardian<\/a>) <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>SPEAKING OF CEASEFIRE- <\/strong><strong>Egypt proposes new, \u201csmaller\u201d ceasefire agreement as bridge to more comprehensive <\/strong><strong>accord:<\/strong> Egyptian officials met with Shin Bet director Ronen Bar in Cairo on Sunday, reportedly putting forth a proposal for a \u201csmall\u201d agreement that would see some of the Israeli hostages being held by Hamas released in exchange for a short ceasefire in Gaza, <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2024\/10\/21\/gaza-egypt-proposed-israel-hostage-ceasefire-deal\" style=\"\" rel=\"noopener\">Axios<\/a> reports, citing unnamed Israeli officials. The proposal suggested that the temporary ceasefire would then be followed by renewed negotiations over a more comprehensive hostage and ceasefire agreement, the officials added.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The meeting follows the death of <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a60ec19-cd62-48f6-ab8c-825636aba046\/what-does%253cmark%253e-sinwar%253c%2Fmark%253e%25e2%2580%2599s-death-mean-for-hamas%3F\" style=\"\" rel=\"noopener\">Hamas leader Yahya Sinwar<\/a><\/strong><strong> last week<\/strong> \u2014 which the Shin Bet director said presents an opportunity to begin negotiations afresh, according to a source speaking to the outlet. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not everyone is on board with the idea:<\/strong> While Israeli Defense Minister Yoav Gallant reportedly supported Egypt\u2019s proposal, the country\u2019s finance and national security ministers both opposed it, the officials said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO RECEIVING ATTENTION- <\/strong>The US elections money race, in which Kamala Harris is emerging as a victor with some USD 1 bn raised in three months, surpassing the USD 894 mn Donald Trump has gathered since January 2023 for his campaign. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/9e910222-0c02-42c8-b875-902bcaf30dc7\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Elon Musk\u2019s pledge to hand out USD 1 mn checks to voters signing for his free-speech and gun rights petition <\/strong>is also seeing some scrutiny in the foreign press, with legal experts weighing in on whether the move could be seen as an illegal way of paying people to vote. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/239.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We look at the challenges and solutions to making green hydrogen blending in Egypt a reality.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                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class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1544.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Somabay<\/span><span style=\"\">, every reason to fall in love.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653743\" 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=\"653743\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/raya-foods-eyes-usd-20-mn-factory-to-boost-exports-2\/\">\r\n                            Raya Foods eyes USD 20 mn factory to boost exports                        <\/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\/22\/raya-foods-eyes-usd-20-mn-factory-to-boost-exports-2\/\" target=\"_blank\">\n                 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href=\"https:\/\/api.whatsapp.com\/send?text=Raya+Foods+eyes+USD+20+mn+factory+to+boost+exports+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F22%2Fraya-foods-eyes-usd-20-mn-factory-to-boost-exports-2%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/raya-foods-eyes-usd-20-mn-factory-to-boost-exports-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1839.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653744\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/raya-foods-eyes-usd-20-mn-factory-to-boost-exports-2\/1839-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1839.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1839.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1839.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1839.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653743\" class=\"content-area-description single-story post-653743 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-domty tag-enterpriseam tag-investment-watch tag-raya-holding 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\/.7bb9c086-cc57-4f87-b130-05ead46ccb10.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Half of Helios\u2019 USD 40 mn acquisition bid for Raya Foods will go towards building <\/strong><strong>a new factory:<\/strong> Raya Food\u2019s parent company Raya Holding will direct USD 20 mn of <a target=\"_blank\" href=\"https:\/\/www.heliosinvestment.com\/\" style=\"\" rel=\"noopener\">Helios Investment Partners\u2019<\/a> USD 40 mn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7dbf7945-1620-41da-aab8-a5de87fa2f87\/raya-foods%e2%80%99-mystery-suitor-is-helios-investment-partners\" style=\"\" rel=\"noopener\">bid for 49% of the subsidiary<\/a> towards building a second factory partly dedicated to freeze-dried fruits and vegetables, Raya Holding CEO Ahmed Khalil told Al Arabiya (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=TXu2htwjlHU\" style=\"\" rel=\"noopener\">watch, runtime: 4:07<\/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>All part of a bigger plan to increase exports \u2014 and in turn FX revenues: <\/strong>The plan is to turn the company from the country\u2019s second-largest frozen produce exporter \u2014 with an annual production capacity of 50k tons \u2014 to the country\u2019s largest, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1655.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> released earlier this week. The new factory will most likely be set up next to its existing factory in Sadat City, according to Khalil \u2014 and its use of freeze-drying produce will play an important role in helping the company boost exports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We also got a breakdown of Helios\u2019 offer for the company: <\/strong>Of the USD 40 mn on the table from Helios, USD 14 mn will go towards a capital increase, USD 9 mn for a mezzanine loan that can be converted into ownership, and an undisclosed amount for a secondary purchase, according to comments from Khalil and a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1802.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a> from the company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Raya Holding is eyeing expansions in Saudi Arabia, Nigeria, and Poland: <\/strong>The group has big plans for its Raya IT arm in the kingdom, along with its call center subsidiary Raya CX that can take advantage of the government\u2019s Saudization program, Khalil said, adding that the company\u2019s non-banking financial services outfit Aman is also well-positioned to grow in the kingdom. Expansions in Nigeria and Poland are also on the agenda.<\/p>\n<p class=\"tag-border-left\">ANOTHER LOCAL FOOD MANUFACTURING PLAYER IS EYEING EXPANSION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expansion and export are also on Domty\u2019s agenda: <\/strong>EGX-listed dairy company Domty has plans to invest EGP 200 mn next year, with a focus on the baked goods sector and expanding exports, CEO and Vice Chairman Mohamed El Damaty told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%af%d9%88%d9%85%d8%aa%d9%8a-%d8%aa%d8%b3%d8%aa%d9%87%d8%af%d9%81-10-%d9%85%d9%84%d9%8a%d8%a7%d8%b1%d8%a7%d8%aa-%d8%ac%d9%86%d9%8a%d9%87-%d9%85%d8%a8%d9%8a%d8%b9%d8%a7%d8%aa-%d8%a7\/\" style=\"\" rel=\"noopener\">Al Mal<\/a>. The investments will follow EGP 150 mn already invested so far in 2024, El Damaty added. Domty is in negotiations over a 25k sqm land plot adjacent to its factories in the Sixth of October to accommodate its planned expansion. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s been a big month for Domty: <\/strong>Danish Arla Foods was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7dbf7945-1620-41da-aab8-a5de87fa2f87\/raya-foods%25e2%2580%2599-mystery-suitor-is-helios-investment-partners\" style=\"\" rel=\"noopener\">given the go-ahead<\/a> earlier this week by Domty\u2019s board to conduct due diligence for its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3239e19b-5957-4421-9ce2-fa09f16d54c4\" style=\"\" rel=\"noopener\">bid to acquire up to 100% of the local cheesemaker<\/a> in a transaction that valued the company at some USD 183 mn. A full takeover seems unlikely, however, with Arla expecting the founding El Damaty family to keep a stake in the company, with El Damaty to continue to lead the company as CEO.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/domty\/\">Domty<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya-holding\/\">Raya Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            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   \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/beltones-leasing-arm-raises-egp-1-3-bn-in-first-securitization-issuance\/\">\r\n                            Beltone\u2019s leasing arm raises EGP 1.3 bn in first securitization issuance                        <\/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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first securitization issuance\">\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=Beltone%E2%80%99s+leasing+arm+raises+EGP+1.3+bn+in+first+securitization+issuance+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F22%2Fbeltones-leasing-arm-raises-egp-1-3-bn-in-first-securitization-issuance%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\/22\/beltones-leasing-arm-raises-egp-1-3-bn-in-first-securitization-issuance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1854.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653747\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/beltones-leasing-arm-raises-egp-1-3-bn-in-first-securitization-issuance\/1854-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1854.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1854.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1854.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1854.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653746\" class=\"content-area-description single-story post-653746 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-beltone-holding tag-beltone-leasing-and-factoring tag-debt-watch tag-enterpriseam tag-securitization 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\/.9744288d-ace9-47e5-bb81-fb2d991670c3.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Beltone Leasing and Factoring closes first securitization issuance:<\/strong> Beltone Holding subsidiary Beltone Leasing and Factoring has closed its first securitized bond issuance, raising some EGP 1.3 bn, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1820.pdf\" style=\"\" rel=\"noopener\">pr<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1820.pdf\" style=\"\" rel=\"noopener\">ess relea<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1820.pdf\" style=\"\" rel=\"noopener\">se (pdf)<\/a>. The three-tranche issuance, with tenors ranging from 12-48 months, received ratings from AA+ to A from the Middle East Rating and Investors Service (MERIS). The issuance was 1.5x oversubscribed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cThe 1.5x oversubscription further emphasizes confidence in our ability to manage a robust and high-performing portfolio. This successful transaction not only highlights our strength but also unlocks new capital streams that will propel our future growth and innovation, driving us to set new benchmarks in the industry,\u201d Deputy Head of NBFIs for Leasing, Factoring, and Consumer Finance at Beltone Amir Ghannam said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>Beltone Investment Banking\u2019s Debt Capital Markets Division acted as financial advisor, manager, and bookrunner. The National Bank of Egypt (NBE) served as custodian for the transaction. Al Ahly Pharos acted as arranger, and FABMisr as co-arranger. Dreny & Partners provided legal counsel, while KPMG served as external auditor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who bought in?<\/strong> NBE, First Abu Dhabi Bank Misr (FABMisr), Banque du Caire, and Suez Canal Bank acted as underwriters, and the Industrial Development Bank subscribed to the issuance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT-<\/strong> This issuance brings the total value of securitized bonds issued in Egypt this year to EGP 22.5 bn, according to data tracked by EnterpriseAM Egypt.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone-holding\/\">Beltone Holding<\/a>\n                <!-- <span 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<\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/sawari-ventures-is-launching-its-usd-200-mn-sawari-ventures-fund-ii\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1843.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653749\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/sawari-ventures-is-launching-its-usd-200-mn-sawari-ventures-fund-ii\/1843-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1843.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1843.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1843.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1843.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653748\" class=\"content-area-description single-story post-653748 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam tag-sawari-ventures tag-startup-watch tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.ebddbcab-fc65-4ccc-ad70-365cd3392cd0.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Cairo-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/sawariventures.com\/\" style=\"\" rel=\"noopener\">Sawari Ventures<\/a><\/strong> <strong> is launching its Sawari Ventures Fund II in early 2025 with a target size of USD <font face=\"Arial\">200<\/font> mn<\/strong>, a representative from Sawari Ventures told EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> \u201cAs with our Fund I, this will be a dual fund structure, consisting of an Egypt-domiciled fund, bringing together our Egyptian investors and investing in Egypt, and a foreign-domiciled fund, bringing in mostly international investors and DFIs, covering Egypt, Tunisia, Morocco, Kenya, and West Africa,\u201d the representative added. Of the total fund, around 70% \u2014 c. USD 140 mn \u2014 will be invested in Egypt over four to five years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The targets: <\/strong>The fund is targeting startups in the Series A and B stages, with a small amount of financing allocated for startups in the seed stage, he added. Sectorally, the fund manager plans to double down on fintech and deeptech, while also expanding its investments in edtech and healthtech. Climate tech and agritech are also on the agenda. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Branching out: <\/strong>\u201cWith this fund, we are looking to double down on the successes of our inaugural fund, while branching out into new sectors and regions that we see tremendous opportunities for growth and impact in,\u201d the representative said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>The company is looking to reach its first close in early 2025, the representative said. The company aims to invest the total target of USD 200 mn over a period of four to five years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>While local startups <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e07e490d-bef8-49cc-b40a-50bdcd342ac3\/egyptian-startups-raised-usd-88.7-mn-in-the-first-half-of-2024\" style=\"\" rel=\"noopener\">raised a combined USD 88.7 mn<\/a> across 39 transactions during the first half of the year, Egypt\u2019s startup scene has been marked by volatility and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/93b5cc1e-9220-4b18-9ddf-9685ff24398f\/local-startup-funding-rose-219%2525-m-o-m-in-september,-but-still-lag-behind-regional-startup-scene\" style=\"\" rel=\"noopener\">continues to lag behind<\/a> other countries in the region \u2014 particularly Saudi Arabia and the UAE. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What about Sawari Ventures Fund I? <\/strong>It had an initial volume of USD 70 mn and included an Egypt-domiciled fund that brought in investors like Banque Misr, Banque du Caire, Suez Canal Bank, and a Netherlands-domiciled fund which brought together international investors like the European Investment Bank and Sango Capital and deployed investments across Egypt, Tunisia, and Morocco.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CORRECTION- <\/strong>We mistakenly reported in the original version of the story that the fund had a size of USD 30 mn. The fund instead has a target size of USD 200 mn. The story has been amended. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sawari-ventures\/\">Sawari Ventures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653750 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=\"653750\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/653750\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653750\" class=\"content-area-description single-story post-653750 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.aimsinternational.com\/en\/company\/aims-egypt\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1767.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653751\" 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=\"653751\">\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\">FINANCIAL SERVICES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/beltone-financial-holding-crif-alliance-is-setting-up-egypts-second-credit-rating-agency\/\">\r\n                            Beltone Financial Holding, CRIF alliance is setting up Egypt\u2019s second credit rating agency                        <\/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\/22\/beltone-financial-holding-crif-alliance-is-setting-up-egypts-second-credit-rating-agency\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Beltone+Financial+Holding%2C+CRIF+alliance+is+setting+up+Egypt%E2%80%99s+second+credit+rating+agency+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F22%2Fbeltone-financial-holding-crif-alliance-is-setting-up-egypts-second-credit-rating-agency%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\/22\/beltone-financial-holding-crif-alliance-is-setting-up-egypts-second-credit-rating-agency\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1864.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653752\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/beltone-financial-holding-crif-alliance-is-setting-up-egypts-second-credit-rating-agency\/1864-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1864.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1864.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1864.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1864.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653751\" class=\"content-area-description single-story post-653751 post type-post status-publish format-standard has-post-thumbnail hentry category-financial-services tag-beltone-financial tag-debt tag-debt-watch tag-enterpriseam tag-financial-regulatory-authority tag-financial-services 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\/.33afd69b-a02d-4af5-9056-bfe02bd37945.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Beltone and CRIF have got the FRA\u2019s greenlight to become the country\u2019s second credit <\/strong><strong>rating agency: <\/strong>Beltone Financial Holding and Italy\u2019s CRIF Ratings were chosen by the Financial Regulatory Authority in June to set up the country\u2019s second credit rating agency, the authority said in a <a target=\"_blank\" href=\"https:\/\/fra.gov.eg\/fra_news\/%d8%a7%d9%84%d8%aa%d8%ad%d8%a7%d9%84%d9%81-%d8%a7%d9%84%d9%85%d9%82%d8%af%d9%85-%d9%85%d9%86-%d8%a8%d9%84%d8%aa%d9%88%d9%86-%d9%83%d8%a7%d8%a8%d9%8a%d8%aa%d8%a7%d9%84-%d9%8a%d8%a8%d8%af%d8%a3\/\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The alliance scored the highest on a set of criteria assessing all those who applied for a license<\/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 then there were two: <\/strong>Once the new credit rating agency gets off the ground, the Middle East Rating and Investors Service (MERIS) \u2014 a joint venture between Moody\u2019s and Finance and Banking Consultants International (FinBi) \u2014 will no longer be the country\u2019s sole credit rating agency.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But what does a credit rating agency do exactly? <\/strong>At its core, a credit rating agency assesses the creditworthiness of entities \u2014 which in the case of the license being offered up the FRA is securities. The license from the FRA will allow the newly-formed credit rating agency to assess the issuer of the security, the nitty-gritty details of the security, and its collateral, along with broader economic factors \u2014 think interest rates, growth rates, inflation \u2014 and then give the security a rating that ranks the risk of default. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A rating isn\u2019t just for show: <\/strong>Without accurate and fair ratings, it makes it much harder for investors to assess the risks of acquiring certain debts and muddies the water in terms of pricing \u2014 effectively putting off investors altogether.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Speeding up the process: <\/strong>The establishment of another credit rating agency is expected to speed up the process of issuing debt \u2014 the process currently takes some 66 days, according to <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/companies\/57426\/%D9%85%D8%B5%D8%B1-%D8%AA%D9%88%D8%A7%D9%81%D9%82-%D9%85%D8%A8%D8%AF%D8%A6%D9%8A%D8%A7-%D8%B9%D9%84%D9%89-%D9%85%D9%86%D8%AD-%D8%B1%D8%AE%D8%B5%D8%A9-%D8%AA%D8%B5%D9%86%D9%8A%D9%81-%D8%A7%D8%A6%D8%AA%D9%85%D8%A7%D9%86%D9%8A-%D9%84%D8%AA%D8%AD%D8%A7%D9%84%D9%81-%D8%A8%D9%84%D8%AA%D9%88%D9%86\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>They weren\u2019t the only companies vying for the license: <\/strong>An alliance of state-backed credit bureau I-Score and American credit rating giant S&amp;P Global Ratings alongside another alliance made up of local investment advisory firm MGM Financial Banking and Consultants and India-based Infomerics Valuation and Rating also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0ffd2845-cea9-4336-babc-ac5ca57be813\/bids-roll-in-for-the-fra%25e2%2580%2599s-credit-rating-license.-plus:-arab-agri-investment,-megamind,-and-gulf-nations\" style=\"\" rel=\"noopener\">made bids for the license late last year<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The search for another rating agency to handle the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d087ef18-4b4b-4559-ac5d-ac851785b9eb\" style=\"\" rel=\"noopener\">growing popularity<\/a> of local asset-backed securities has been in the works for a few years. The FRA scrapped its requirement that at least 10% of the agency be owned by international firms in a bid to move the process along. The authority was in negotiations with an unnamed company interested in the license in 2022 before opening the door for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfa5e60a-6249-4c47-9cb4-66c872931c1e\" style=\"\" rel=\"noopener\">applications<\/a> in August 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>We\u2019re yet to hear when we will see the credit rating agency launch \u2014 or even what its name will be \u2014 but we do know from the FRA that they\u2019ve started the process of establishing and licensing the agency.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone-financial\/\">Beltone Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-services\/\">financial services<\/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=\"653753\" 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=\"653753\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/delta-sugars-ahmed-abdel-hafez-resigns\/\">\r\n                            Delta Sugar\u2019s Ahmed Abdel Hafez resigns                        <\/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\/22\/delta-sugars-ahmed-abdel-hafez-resigns\/\" 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\/22\/delta-sugars-ahmed-abdel-hafez-resigns\/')\">\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\/22\/delta-sugars-ahmed-abdel-hafez-resigns\/\">\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=Delta Sugar\u2019s Ahmed Abdel Hafez resigns&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/delta-sugars-ahmed-abdel-hafez-resigns\/\">\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\/22\/delta-sugars-ahmed-abdel-hafez-resigns\/&title=Delta Sugar\u2019s Ahmed Abdel Hafez resigns\">\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=Delta+Sugar%E2%80%99s+Ahmed+Abdel+Hafez+resigns+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F22%2Fdelta-sugars-ahmed-abdel-hafez-resigns%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\/22\/delta-sugars-ahmed-abdel-hafez-resigns\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1835.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653754\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/delta-sugars-ahmed-abdel-hafez-resigns\/1835-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1835.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1835.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1835.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1835.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653753\" class=\"content-area-description single-story post-653753 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-delta-sugar tag-enterpriseam 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\/.b4371c0f-2294-4655-a7cb-f393be80106f.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Delta Sugar is on the lookout for a new MD: <\/strong>Delta Sugar Chairman and Managing Director Ahmed Abdel Hafez submitted his resignation, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1805.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. His resignation will now be presented to the board of directors. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/delta-sugar\/\">Delta Sugar<\/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=\"653755 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=\"653755\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/653755\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653755\" class=\"content-area-description single-story post-653755 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicContactUs\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2301.jpeg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653756\" 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=\"653756\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/two-children-dead-after-being-run-over-by-train\/\">\r\n                            Two children dead after being run over by train in Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/two-children-dead-after-being-run-over-by-train\/\" 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\/22\/two-children-dead-after-being-run-over-by-train\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n         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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/two-children-dead-after-being-run-over-by-train\/&title=Two children dead after being run over by train\">\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=Two+children+dead+after+being+run+over+by+train+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F22%2Ftwo-children-dead-after-being-run-over-by-train%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\/22\/two-children-dead-after-being-run-over-by-train\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1840.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653757\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/two-children-dead-after-being-run-over-by-train\/1840-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1840.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1840.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1840.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1840.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653756\" class=\"content-area-description single-story post-653756 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-commodities tag-enterpriseam tag-last-nights-talk-shows 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\/.fa791bad-e738-45ef-994a-f697be280107.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tragedy on the railways: <\/strong>Two young siblings were struck by a train while trying to cross the railway tracks on their way to school in a village in southern Giza on Monday morning, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MinistryTransportation\/posts\/pfbid0Gnr1v15vksFqYoHMpSHFfk1LS3Lk4QiQjDSSiAAfe2WpnNKM6jcVDWmMC9dYtqtnl?__cft__[0]=AZXooVa6BVySAU4Avpwzs299ugksPczLthk3uqMAd9gG__edB0rmvXOea4ZN25lwhobTKcA4kGrtNjcwLMNqm4YJBrauGeImVsTaDwUw0gWXYUK0n6RF-A7viJ7Dvj0aXaSWTB3l-PeXB0aiSTwhdMI1tLxEjxa3Z8aJ9V8ZfS8Cmt3i-VIwl895ykWWWxnFuQo&__tn__=%2CO%2CP-R\" style=\"\" rel=\"noopener\">statement<\/a> from the National Railway Authority.<\/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 railway crossing was closed at the time of the incident<\/strong> and a guard was present at the site. However, the children attempted to cross at an unauthorized location, leading to the fatal accident, Al Masry Al Youm managing editor Yousry El Badry told El Hekaya\u2019s Amr Adib (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1083087583470860\" style=\"\" rel=\"noopener\">watch, runtime: 3:00<\/a>). Following the accident, some residents gathered to assault the guard and set fire to his cabin. Adib criticized the statement put out by the NRA for neglecting to offer condolences to the children\u2019s families, claiming that it was an attempt by the authority to absolve itself from blame over the incident (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1083087583470860\" 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>Cycling accident injures eight: <\/strong>Eight cyclists from the 6 October Club were injured in an accident on the Cairo-Alexandria Desert Road on Sunday, with some accounts stating that it was a car collision and others claiming that the cyclists crashed into each other while a speeding truck passed by. El Badry discussed the incident with Adib (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1252467012431010\" style=\"\" rel=\"noopener\">watch, runtime: 2:06<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Unsubsidized bread prices on the rise as bakeries price in higher fuel costs:<\/strong> Some bakeries have raised the price of non-subsidized bread by EGP 0.25-0.50 per loaf, said Khaled Fikry, the secretary-general of the bakery division at the Federation of Chambers of Commerce, told Salaat El Tahrir\u2019s Faten Abdel Maaboud (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1071138498056338\" style=\"\" rel=\"noopener\">watch, runtime: 4:08<\/a>). <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653758\" 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=\"653758\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/egypt-will-lead-the-international-gas-union-from-2028-to-2031-plus-news-from-apache-atlas-raya-distribution-air-arabia\/\">\r\n                            Egypt will lead the International Gas Union from 2028 to 2031                        <\/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\/22\/egypt-will-lead-the-international-gas-union-from-2028-to-2031-plus-news-from-apache-atlas-raya-distribution-air-arabia\/\" 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\/22\/egypt-will-lead-the-international-gas-union-from-2028-to-2031-plus-news-from-apache-atlas-raya-distribution-air-arabia\/')\">\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\/22\/egypt-will-lead-the-international-gas-union-from-2028-to-2031-plus-news-from-apache-atlas-raya-distribution-air-arabia\/\">\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=Egypt will lead the International Gas Union from 2028 to 2031. 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Taqa Arabia and Egyptian Gas Association chairman Khaled Abu Bakr will represent Egypt in the new position, which will also see Egypt host the World Gas Conference in 2031.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What can we expect from an Egypt-led IGU? <\/strong>\u201cOur future vision for the energy sector is centered on three main objectives: strengthening energy security by enhancing gas infrastructure in underserved areas, ensuring affordability by bolstering the industry\u2019s resilience to price volatility, and advancing sustainability through enabling investments in green hydrogen, e-methanol, and greener fuels to lower emissions,\u201d Abu Bakr said.<\/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- Apache to expand production in Egypt:<\/strong> US oil producer Apache plans to increase its daily natural gas production 11% to 500 mn cf and invest some USD 1.3 bn on its production of crude oil \u2014 through its JV with EGPC Khalda Petroleum \u2014 during the current fiscal year, an unnamed government source told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/10\/21\/-%D8%A3%D8%A8%D8%A7%D8%AA%D8%B4%D9%8A-%D8%A7%D9%84%D8%A3%D9%85%D9%8A%D8%B1%D9%83%D9%8A%D8%A9-%D8%AA%D8%B9%D8%AA%D8%B2%D9%85-%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D8%A7%D9%86%D8%AA%D8%A7%D8%AC%D9%87%D8%A7-%D9%85%D9%86-%D8%A7%D9%84%D8%BA%D8%A7%D8%B2-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1-11-%D8%A7%D9%84%D8%B9%D8%A7%D9%85-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A-%D8%A7%D9%84%D8%AC%D8%A7%D8%B1%D9%8A\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The how:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/khalda-petroleum-company-apache-\" style=\"\" rel=\"noopener\">Khalda Petroleum<\/a> plans to raise crude oil and condensate production by 5% to 145k barrels a day. Khalda is also planning to invest in a new drilling rig for its Abu Gharadig field in the Western Desert field this November, as part of its drive to maximize production.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We saw this coming:<\/strong> We got wind back <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bf750051-eae1-4fe4-9af7-3171c7c1d73a\/marriott-to-open-new-downtown-hotel.-plus:-news-from-infinity,-azimut,-arco,-madinet-masr\" style=\"\" rel=\"noopener\">in July<\/a> that the company was planning to expand production in the coming period in light of \u201cthe availability of ample opportunities for new discoveries.\u201d Apache had planned to invest <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a423c134-0e3b-40af-9bc1-7ab40b8dd0d4\" style=\"\" rel=\"noopener\">USD 1.4 bn on exploration and production in Egypt in 2024<\/a> as part of a wider plan to spend USD 3.5 bn here by 2027.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">M&A- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Atlas taps financial advisor as it mulls Amoun\u2019s MTO: <\/strong>Atlas For Investment and Food Industries has tapped financial consultancy Eagle Advisors as independent financial advisor, following Amoun for Real Estate and Tourism Development\u2019s mandatory tender offer <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ea28b51-3839-4b2d-9725-fb6a48b64055\/amoun-wants-a-majority-stake-in-egx-listed-atlas\" style=\"\" rel=\"noopener\">to acquire 65.59% of Atlas<\/a>, the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1791.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. Eagle Advisors is expected to present its valuation report at least five working days before <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3239e19b-5957-4421-9ce2-fa09f16d54c4\/arla-foods-looks-to-take-over-domty-in-usd-183-mn-transaction\" style=\"\" rel=\"noopener\">the offer expire<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3239e19b-5957-4421-9ce2-fa09f16d54c4\/arla-foods-looks-to-take-over-domty-in-usd-183-mn-transaction\" style=\"\" rel=\"noopener\">s<\/a> on Tuesday, 12 November.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Amoun has offered to purchase around 427.2 mn of Atlas\u2019 shares for EGP 0.78 a piece, putting the transaction\u2019s value at EGP 333.22 mn by our math. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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- GTEX offloads its stake in Baird Group:<\/strong> GTEX Holding\u2019s board has approved the sale of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/27b342ac-a7c6-4971-8373-1aa8db736c31\/saudi-egyptian-industrial-investment-mulls-reviving-bid-for-state-run-el-nasr-glass%3B-plus:-emaar-misr-pushes-forward-acquisition-plans,-gtex-holding%25e2%2580%2599s-uk-retail-unit-receives-offer\" style=\"\" rel=\"noopener\">its 98.15% stake<\/a> in UK menswear retail subsidiary Baird Group to Romani Ventures, owned by Concrete Fashion Group CEO Alaa Arafa, for USD 1.5 mn, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1824.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. <\/p>\n<p class=\"tag-border-left\">LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Land shipping rates up 20% following fuel prices rise:<\/strong> A number of land freight service providers raised shipping rates by 20% over the weekend in line with the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e1e29b9-af1f-412d-9492-354ca6e76353\/egypt-hikes%253cmark%253e-fuel%253c%2Fmark%253e-prices-for-the-third-time-in-2024\" style=\"\" rel=\"noopener\">recent fuel price hike<\/a>, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d8%a7%d9%84%d9%86%d9%82%d9%84-%d8%a7%d9%84%d8%a8%d8%b1%d9%8a-%d8%aa%d8%b1%d9%81%d8%b9-%d8%a3%d8%b3%d8%b9%d8%a7%d8%b1-%d9%86%d9%88%d8%a7%d9%84%d9%8a%d9%86-%d8%a7%d9%84%d8%b4%d8%ad%d9%86-20\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Transportation and logistics platforms are also adjusting their fees<\/strong>, with <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%aa%d8%b7%d8%a8%d9%8a%d9%82%d8%a7%d8%aa-%d8%a7%d9%84%d9%86%d9%82%d9%84-%d9%88%d8%a7%d9%84%d9%84%d9%88%d8%ac%d8%b3%d8%aa%d9%8a%d8%a7%d8%aa-%d8%aa%d8%b1%d9%81%d8%b9-%d8%b1%d8%b3%d9%88\/\" style=\"\" rel=\"noopener\">Al<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%aa%d8%b7%d8%a8%d9%8a%d9%82%d8%a7%d8%aa-%d8%a7%d9%84%d9%86%d9%82%d9%84-%d9%88%d8%a7%d9%84%d9%84%d9%88%d8%ac%d8%b3%d8%aa%d9%8a%d8%a7%d8%aa-%d8%aa%d8%b1%d9%81%d8%b9-%d8%b1%d8%b3%d9%88\/\" style=\"\" rel=\"noopener\">Mal<\/a> reporting that a number of sector companies are preparing to hike prices 7-10% across the board to preserve profit margins.<\/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>Gov\u2019t plans to set up a cargo city:<\/strong> The government is planning to establish a cargo city \u2014 dubbed Cairo Cargo City \u2014 that will double the volume of goods transported, Civil Aviation Minister Sameh Elhefny said, according to <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1848396981988659362\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Chinese state-owned construction firm and China Energy subsidiary Gezhouba Group <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:%253cmark%253e-cairo-international-airport%253c%2Fmark%253e,-le-mans,-citibank,-beyti,-ci-capital\" style=\"\" rel=\"noopener\">proposed<\/a> establishing a \u201clogistics cargo city\u201d at Cairo International Airport during a meeting with the Aviation Ministry in September.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PRIVATIZATION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gov\u2019t to appoint investment bank to manage the sale of Sinai Manganese:<\/strong> Chemical Industries Holding Company (CIHC) is reportedly looking to appoint an investment bank to manage the listing of Sinai Manganese, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/10\/21\/1836222\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing unnamed sources. Four banks have already expressed interest in managing the sale and the company should decide on one in 1Q 2025. The jury remains out on whether Sinai Manganese will be listed on the EGX or if it will be sold to a strategic investor instead. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Several local and international investors were reportedly looking to grab a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/am\/2024-08-06\/8\" style=\"\" rel=\"noopener\">stake<\/a> in the state-owned company, which was being shopped around by the Sovereign Fund of Egypt ahead of the sale.<\/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\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new route connecting Egypt and Kuwait: <\/strong>Emirati <a target=\"_blank\" href=\"https:\/\/www.airarabia.com\/en?gad_source=1&gclid=Cj0KCQjw99e4BhDiARIsAISE7P9-XLcRzhehTv83bu-VhYqKZ-Y8YFcqOwGfuqa0-dsyM7UjVTgaWQIaAjOkEALw_wcB&gclsrc=aw.ds\" style=\"\" rel=\"noopener\">Air Arabia<\/a> subsidiary Air Arabia Egypt is set to launch thrice-weekly direct flights between Cairo and Kuwait City starting 14 January, the airline said in a <a target=\"_blank\" href=\"https:\/\/press.airarabia.com\/air-arabia-egypt-launches-new-route-connecting-cairo-and-kuwait\/\" style=\"\" rel=\"noopener\">statement<\/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\">RETAIL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Raya Distribution is now the sole distributor of Kenwood kitchen appliances:<\/strong> Raya Holding subsidiary Raya Distribution inked a partnership agreement with Italian appliance company <a target=\"_blank\" href=\"https:\/\/www.delonghigroup.com\/en\" style=\"\" rel=\"noopener\">De'Longhi Group<\/a> \u2014 the owner of the De'Longhi, Kenwood, and Braun brands \u2014 to become the exclusive agent and official distributor for Kenwood\u2019s built-in kitchen appliances in Egypt, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1642.pdf\" style=\"\" rel=\"noopener\">company statement (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DEBT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ECHEM is seeking USD 700 mn in financing:<\/strong> Egyptian Petrochemicals Holding Company (ECHEM) is looking to secure some USD 700 mn to finance its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aed36bed-e276-4e64-b33b-c01ef19175ea\/%253cmark%253esoda-ash%253c%2Fmark%253e-cash\" style=\"\" rel=\"noopener\">soda ash project<\/a>, a silicon production project, and its bioethanol production project in Damietta, two unnamed sources told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/financing-and-investment\/57067\/%D8%A7%D9%84%D9%82%D8%A7%D8%A8%D8%B6%D8%A9-%D9%84%D9%84%D8%A8%D8%AA%D8%B1%D9%88%D9%83%D9%8A%D9%85%D8%A7%D9%88%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D8%B3%D8%B9%D9%89-%D9%84%D8%A7%D9%82%D8%AA%D8%B1%D8%A7%D8%B6-700-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s involved?<\/strong> The company reportedly plans to secure the funds from Emirates NBD, the National Bank of Kuwait, and Qatar National Bank, alongside the European Bank for Reconstruction and Development and Afreximbank.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/apache\/\">Apache<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/atlas\/\">Atlas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/echem\/\">ECHEM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/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\/raya-distribution\/\">Raya Distribution<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/retail\/\">retail<\/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=\"653760\" 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=\"653760\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/the-gains-party-on-wall-street-could-be-winding-down\/\">\r\n                            The (gains) party on Wall Street could be winding down                        <\/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\/22\/the-gains-party-on-wall-street-could-be-winding-down\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" 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data-attachment-id=\"653761\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/the-gains-party-on-wall-street-could-be-winding-down\/1847-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1847.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1847.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1847.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1847.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653760\" class=\"content-area-description single-story post-653760 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.5418d4e8-f155-4db2-8581-96f5a6d056e0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>In the decade ahead, returns from the S&amp;P 500 aren\u2019t expected to remain as high as they <\/strong><strong>were in the past 10 years<\/strong>, according to two separate notes from Goldman Sachs and Deutsche Bank. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where the market stands now:<\/strong> With a two-year bull market under its belt, the S&amp;P recently delivered its best 9M performance in 27 years, rising c.21% during the January-September period, according to <a target=\"_blank\" href=\"https:\/\/www.fool.com\/investing\/2024\/10\/05\/the-sp-500-just-did-this-for-the-first-time-in-27\/\" style=\"\" rel=\"noopener\">market data<\/a>. Historically speaking, in the years that the index has delivered double-digit increases during the first three quarters of a year, it typically records a positive fourth quarter as well. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rally could be winding down and US equities are likely looking at a much leaner <\/strong><strong>decade ahead<\/strong>, Goldman Sachs strategists including David Kostin said in a note, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-21\/s-p-500-s-decade-of-big-gains-is-over-goldman-strategists-say?sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The investment bank sees S&amp;P 500\u2019s annualized nominal returns clocking in at just 3% over the next 10 years, well below the long-term average of 11% and a far cry from the 13% recorded in the last decade. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bonds are the new black: <\/strong>The analysis suggests that equities will take a backseat as assets like bonds become more appealing. Goldman sees a 72% chance that the S&amp;P 500 will underperform treasuries, and a 33% likelihood that it will lag behind inflation through to 2034, meaning investors should brace for lower-end stock market returns. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Local + global conditions make it \u201cdifficult to get further upside\u201d:<\/strong> It\u2019s unlikely that the S&amp;P 500 will continue to register the same levels of return growth, Deutsche Bank analysts also said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\u201cWith a soft economic landing increasingly priced in, it feels more difficult to get further upside growth surprises from here,\u201d the analysts said, particularly when considering potential external shocks from geopolitical turmoil. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big tech is delaying the slide, but won\u2019t save the day: <\/strong>While the S&amp;P 500 has bounced back by 23% this year, the boost was largely driven by a few tech giants. Goldman\u2019s team anticipates broader returns in the years to come, predicting that the equal-weighted S&amp;P 500 will outperform the market cap-weighted benchmark. Even if the tech-heavy rally continues, average returns won\u2019t top 5% \u2014 remaining below the historical norm.<\/p><p class=\"tag-border-left\">ALSO WORTH NOTING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Europe wants its very own SEC:<\/strong> The European Securities and Markets Authority (Esma) is making a bid to become the EU\u2019s equivalent of the US Securities and Exchange Commission (SEC), with Esma seeing the need for greater centralization in supervising the bloc\u2019s capital markets, President Verena Ross tells the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6e491e13-b8e4-4a9d-b43c-ba543608dd51\" style=\"\" rel=\"noopener\">Financial Times<\/a>. The Paris-based watchdog aims to tighten its grip on Europe\u2019s stock exchanges and financial infrastructure, seeking to revitalize the region's markets and boost investor confidence amid rising demand for capital.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not everyone\u2019s on board: <\/strong>Smaller EU member states like Luxembourg and Ireland are pushing back, worried the plan could undermine their local markets which rely more on localized authority. Meanwhile, bigger players like France and Germany are all for the move, seeing the benefits of syncing regulations across borders. \u201cLet\u2019s evaluate in which areas it would make sense to move a step further to central EU supervision,\u201d Ross added. <\/p><p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US futures are a sea of red this morning, extending yesterday\u2019s downturn and dragging down early trading in Asia-Pacific markets.<\/strong> Japan\u2019s benchmark Nikkei is firmly in the red this morning, while Hong Kong\u2019s HSI is timidly in the green.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,445<\/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\">+3.1% (YTD: +22.3%)<\/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 48.59<\/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 48.73<\/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 48.59<\/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 48.69<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,008<\/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: +0.3%)<\/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>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\">9,275<\/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: -3.1%)<\/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>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\">4,478<\/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: +10.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,854<\/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: +22.7%)<\/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-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,941<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9% (YTD: +9.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 74.00<\/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%<\/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>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 2.31<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,739<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 67,697<\/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\">-1.6% (YTD: +60.6%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 3.1% at yesterday\u2019s close<\/strong> on turnover of EGP 4.2 bn (3.8% above the 90-day average). Local investors were the sole net sellers. The index is up 22.3% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Oriental Weavers (+18.7%), Edita (+12.8%), and Palm Hills Developments (+9.0%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Abu Qir Fertilizers (-1.1%) Faisal Islamic Bank of Egypt -USD (-0.2%).. <\/p><p class=\"tag-border-left\">CORPORATE ACTIONS- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Heliopolis Housing and Development\u2019s general assembly approved a decision <\/strong><strong>to <\/strong><strong>raise the company\u2019s issued capital to EGP 1 bn<\/strong>, up from EGP 333.8 mn, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1816.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The increase will be distributed across 1.3 bn shared with a nominal value of EGP 0.25 each.<\/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- Mohandes Life Ins.\u2019 assembly approved paying out dividends worth EGP 70 <\/strong><strong>mn on its FY 2023-2024 earnings<\/strong>, with the parent company and 99.9% owner of the subsidiary Mohandes Ins. receiving EGP 69.93 mn, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1817.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1817.pdf\" style=\"\" rel=\"noopener\">)<\/a>. Mohandes Life Ins. will also distribute EGP 35 mn in free shares, raising its capital to EGP 285 mn. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"653762\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">10<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/the-challenges-and-solutions-to-making-green-hydrogen-blending-in-egypt-a-reality\/\">\r\n                            The challenges and solutions to making green hydrogen blending in Egypt a reality<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/the-challenges-and-solutions-to-making-green-hydrogen-blending-in-egypt-a-reality\/\" 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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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"653763\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/the-challenges-and-solutions-to-making-green-hydrogen-blending-in-egypt-a-reality\/1833-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1833.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1833.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1833.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1833.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-653762\" class=\"content-area-description post-653762 goinggreen type-goinggreen status-publish has-post-thumbnail hentry category-going-green tag-energy tag-enterprise-going-green tag-enterpriseam tag-going-green tag-green-hydrogen tag-oil-and-gas tag-renewable-energy wpautop entry\">\n\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\"> <strong>Egypt is a <\/strong><strong>strong candidate<\/strong><strong> for implementing the technology of blending green<\/strong><strong> hydrogen into its national natural gas grid.<\/strong> This is due to the large number of green hydrogen projects underway in the country and the capacity of its natural gas network, which spans nearly 100k km, supplying natural gas to over 14 mn homes, 25k commercial units, and 3k industrial units. <\/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>In a part two <\/strong><a target=\"_blank\" rel=\"noopener\">to last week\u2019s Hardhat<\/a> <strong> looking at why Egypt is a good candidate for green<\/strong><strong> hydrogen blending<\/strong>, we look at the challenges and solutions to its adoption here in Egypt by talking to industry insiders to get the inside scoop.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In case you're in need of a recap<\/strong>, green hydrogen blending involves mixing hydrogen produced from clean energy sources \u2014 think wind, power, and hydro \u2014 with natural gas in existing natural gas pipes. It presents an attractive way to diversify and greenify a country\u2019s energy mix that is both gradual and with little up-front costs as it makes use of existing infrastructure. As a clean fuel source, the more green hydrogen sent through the pipes means less emissions as it reduces the amount of natural gas in the mix.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But before you get carried away, hydrogen blending is only a temporary transitional<\/strong><strong> solution: <\/strong>Blending green hydrogen with natural gas is a temporary solution for Egypt's energy transition. In the long term, there is a need to develop a dedicated hydrogen transmission network. EU countries, for example, are working on creating hydrogen-dedicated pipelines alongside blending hydrogen into gas grids, investing heavily to avoid leaks due to hydrogen\u2019s lower density compared to natural gas, industry insiders told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One thing going for us is the amount of green hydrogen projects in the pipeline: <\/strong>Since 2021, Egypt has signed around 32 MoUs for green hydrogen production, 15 of which have been converted into binding contracts with the Egyptian government and 17 lapsed due to a lack of commitment, Osama Fawzy, founder of hydrogen market intelligence platform <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/showcase\/egypt-hydrogen-renewable-energy\/\" style=\"\" rel=\"noopener\">H2lligence<\/a>, told EnterpriseAM. Two additional agreements were signed on the sidelines of the European Investment Forum in Egypt, bringing the total to 17 binding agreements with an investment volume of USD 83 bn and a production capacity of 3 mn tons of green hydrogen. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But it\u2019s far from guaranteed that a lot of the green hydrogen produced will go towards the <\/strong><strong>local market: <\/strong>\u201cAlthough 15 international companies committed to significant green hydrogen investments in Egypt under the framework agreements signed at COP27 in November 2022, they are not obliged to supply any portion of their production to the local market, which is a significant flaw in these contracts,\u201d Fawzy told us. So even if Egypt achieves its target of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d6ddc0d-5ceb-4101-8487-679c669773d3\/our-new-national-low-carbon-strategy-lays-out-some-practical-steps-toward-scaling-up-green-and-blue-hydrogen-production\" style=\"\" rel=\"noopener\">capturing a 5-8% share of the global hydrogen market<\/a> by 2040, there is a big question mark as to how much would be available for use by the country.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s certainly a demand from the country\u2019s energy-intensive industries for blended<\/strong><strong> green hydrogen \u2014 and even for factories powered solely by green hydrogen: <\/strong>Planned green hydrogen projects are distributed among many of Egypt\u2019s main industrial zones and areas set for massive developments, opening up the possibility of these projects helping power nearby industries. There are planned green hydrogen projects in the vicinity of factories producing glass, ceramics, fertilizers, cement, and chemicals in East Port Said, Sokhna, Ras El Hikma, and more, which could be initially connected with connected by pipelines of 40-50 km in length until a dedicated hydrogen network is established, Fawzy said. The priority should be given to energy-intensive industries, followed by power generation plants, the commercial sector, and finally, the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/da0fab5f-79e9-4d82-b4ca-ed6f42f04eeb\/egypt-secures-20-lng-cargoes-for-some-usd-907-mn-to-cover-winter-demand.-plus:-gov%e2%80%99t-mulls-hiking-gas-prices-for-factories\" style=\"\" rel=\"noopener\">residential sector<\/a>, which consumes less than 5% of the country's natural gas, Fawzy added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Incentives would go a long way in ensuring the supply of green hydrogen to the domestic<\/strong><strong> market: <\/strong>The government should incentivize the supply of green hydrogen to the domestic market by entering into long-term supply contracts with investors for the Ministry of Electricity to power its plants, according to Fawzy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EU-centric financing is also skewing the industry towards export: <\/strong>Most of the green hydrogen production projects planned for Egypt are funded by the EU and financial institutions with the goal of exporting the entire output to Europe. This deprives projects aimed at supplying the local market from accessing funding, according to Fawzy. The solution lies in turning to regional financial institutions like the African Development Bank, Afreximbank, New Development Bank, and the Asian Infrastructure Investment Bank.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>High costs remain, but are expected to decrease: <\/strong>The current cost of producing green hydrogen is three times higher than that of natural gas due to technological costs. However, this cost is expected to decrease to just twice the cost of natural gas by 2030, and <a target=\"_blank\" rel=\"noopener\">cost competitiveness could be achieved between 2040 and 2050<\/a>, according to the Boston Consulting Group.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But until prices are competitive, the state needs a carrot-and-stick to get local industry on <\/strong><strong>board: <\/strong>The government can gradually compel energy-intensive industries to go green by using hydrogen blends in gas networks by imposing a carbon tax. While on the supply side, the state can encourage hydrogen producers to allocate a portion of production to the local market by offsetting shipping costs, Fawzy tells us. If Egypt can support the supply of hydrogen to energy-intensive industries and incentivize hydrogen developers in Egypt by giving them a premium over the world\u2019s lowest production costs, it could secure a share of the production.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Thorough technical studies are also still needed before we can start blending green<\/strong><strong> hydrogen into the network:<\/strong> The feasibility of hydrogen blending needs to be evaluated both technically and environmentally. One key issue is safety, as hydrogen blending can alter the pressure dynamics in the gas distribution system, which needs modifications to the existing network to ensure safety. Hydrogen can also cause damage to some metals \u2014 weakening pipelines and equipment \u2014 so these areas in the network need to be identified and replaced. Hydrogen also burns at a higher temperature than natural gas, potentially causing issues for end-users like factories with specialist equipment calibrated for unmixed natural gas, Fawzy told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top green economy stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>E-scooter startup Rabbit Mobility raised <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d66c328d-1def-45a8-803e-4c749d620a28\/egyptian-cleantech-transport-startup-rabbit-mobility-closes-usd-1.3-mn-round\" style=\"\" rel=\"noopener\">USD 1.3 mn in a new investment round<\/a><\/strong> led by VC firm 500 Global and Untapped Global. The funds will drive Rabbit's growth in Egypt and North Africa, expand its EV fleet, enhance user experience, and boost local micromobility access. <\/li>\n<li><strong>The Suez Canal Economic Zone will begin construction on <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/db51c40e-c6dd-4ad1-b299-67a0b7a37e3b\/the-grand-egyptian-museum-kicks-off-trial-operations-today\" style=\"\" rel=\"noopener\">five<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/db51c40e-c6dd-4ad1-b299-67a0b7a37e3b\/the-grand-egyptian-museum-kicks-off-trial-operations-today\" style=\"\" rel=\"noopener\">large-scale green hydrogen projects<\/a><\/strong> within a year, set to be completed in four years. <\/li>\n<li><strong>Egypt will supply and install a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/03c61675-0241-444d-8b82-bc5c49a8f524\/nra-to-launch-tender-for-the-management-of-bashteel%25e2%2580%2599s-garage\" style=\"\" rel=\"noopener\">276.5 kw solar plant<\/a><\/strong><strong> in Djibouti<\/strong> under a bilateral agreement signed between the two sides. The plant is part of efforts to support Djibouti\u2019s sustainable development plans, and will be implemented alongside training programs to transfer local expertise to Djibouti. <\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"653764\" 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\/22\/653764\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653764\" class=\"content-area-description single-story post-653764 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 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>8-9 November (Friday-Saturday): Carerha Summit 2024, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">10-12 November (Sunday-Tuesday): Falak Startups\u2019 <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/posts\/falakstartups_falakstartups-vcfund-masterclass-activity-7253406191060488192-Rueh\/?utm_source=share&utm_medium=member_desktop\" style=\"\">Fund Manager Masterclass<\/a><\/span><span style=\"\">, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-15 November (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0m61FMcuP2Qn6d36We1ozK1CgZEF6KGqaen15UMX7EkfRovB1cuxZ1gFtbqZNFvQ5l\" style=\"\">Arab African Investment and International Cooperation Summit<\/a><\/span><span style=\"font-weight:400;\">, Aswan, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>17-19 November (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.autotechegypt.com\/en\/home.html\" style=\"\">Autotech Exhibition for Automotive Aftermarket & Feeder Industries<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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\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>A second credit rating agency | Smaller ceasefire proposal | Leading the International Gas Union.<\/p>\n","protected":false},"featured_media":653739,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-653738","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"4a84122b-775b-4ed4-8889-b0f10e8847f7","teaser":"A second credit rating agency | Smaller ceasefire proposal | Leading the International Gas Union.","photo_url":"https:\/\/ent.news\/2024\/10\/1848.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 wants more time to implement IMF reforms - 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-wants-more-time-to-implement-imf-reforms\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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