{"id":653814,"date":"2024-10-23T00:00:00","date_gmt":"2024-10-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=653814"},"modified":"2025-12-18T00:47:17","modified_gmt":"2025-12-18T00:47:17","slug":"el-sisi-meets-putin-on-the-sidelines-of-the-annual-brics-summit","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-meets-putin-on-the-sidelines-of-the-annual-brics-summit\/","title":{"rendered":"El Sisi meets Putin on the sidelines of the annual Brics Summit"},"content":{"rendered":"<section id=\"653816\" 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=\"653816\">\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\/23\/imf-keeps-egypts-growth-outlook-unchanged\/\">\r\n                            IMF keeps Egypt\u2019s growth outlook unchanged                        <\/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\/23\/imf-keeps-egypts-growth-outlook-unchanged\/\" target=\"_blank\">\n                    Open in new tab     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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/imf-keeps-egypts-growth-outlook-unchanged\/1960-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1960.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1960.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1960.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1960.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653816\" class=\"content-area-description single-story post-653816 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\/.88e7b7bc-6ff5-4bd8-ad47-d8bf7a4a730c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good m<\/strong><strong>orning, friend<\/strong><strong>s. <\/strong>It\u2019s another busy day with both the Brics Summit and the World Bank and IMF annual meetings well underway. <\/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- IMF maintains Egypt\u2019s growth outlook:<\/strong> The IMF has kept our growth forecast for the current fiscal year unchanged at 4.1% in its updated <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1949.pdf\" style=\"\" rel=\"noopener\">World Economic Outlook (pdf)<\/a>. The Fund cut the country\u2019s growth forecast to 4.1% in July, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0f20e8b9-2a88-4d84-9c4c-cbb7083d24eb\/imf-trims-egypt%25e2%2580%2599s-growth-outlook\" style=\"\" rel=\"noopener\">slashing it 0.3 percentage points<\/a> from previous forecasts. The Fund also expects inflation to average 21.2% during the current fiscal year, down from 33.3% last fiscal year.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More optimistic than most: <\/strong>The Madbouly government sees the economy growing at a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9f7ed194-9bf4-43df-b138-4372b364d873\/gdp%253cmark%253e-growth-%253c%2Fmark%253eslowed-to-2.4%2525-in-fy-2023-24\" style=\"\" rel=\"noopener\">4.0%<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9f7ed194-9bf4-43df-b138-4372b364d873\/gdp%253cmark%253e-growth-%253c%2Fmark%253eslowed-to-2.4%2525-in-fy-2023-24\" style=\"\" rel=\"noopener\">clip<\/a> this current fiscal year, while the World Bank <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c28d504b-997b-4403-8f2f-c04a2a80b6b1\/%253cmark%253eworld-bank%253c%2Fmark%253e-trims-egypt%25e2%2580%2599s-growth-forecast-to-3.5%2525\" style=\"\" rel=\"noopener\">sees the economy growing 3.5%<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt is expected to lose some 1.3% of its annual GDP by the end of 2024 due to <\/strong><strong>regional tension<\/strong>, the UNDP\u2019s Assistant Secretary-General and Director for Arab states Abdallah Al Dardari told <a target=\"_blank\" href=\"https:\/\/www.cnbcarabia.com\/129575\/2024\/22\/10\/%D8%A7%D9%84%D9%85%D8%AF%D9%8A%D8%B1-%D8%A7%D9%84%D8%A5%D9%82%D9%84%D9%8A%D9%85%D9%8A-%D9%84%D9%84%D8%AF%D9%88%D9%84-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D9%81%D9%8A-%D8%A8%D8%B1%D9%86%D8%A7%D9%85%D8%AC-%D8%A7%D9%84%D8%A3%D9%85%D9%85-%D8%A7%D9%84%D9%85%D8%AA%D8%AD%D8%AF%D8%A9-%D9%84%D9%80-CNBC-%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9:-%D9%81%D9%84%D8%B3%D8%B7%D9%8A%D9%86-%D8%AE%D8%B3%D8%B1%D8%AA-36--%D9%85%D9%86-%D8%A7%D9%84%D9%86%D8%A7%D8%AA%D8%AC-%D8%A7%D9%84%D9%85%D8%AD%D9%84%D9%8A-%D8%A7%D9%84%D8%A5%D8%AC%D9%85%D8%A7%D9%84%D9%8A-%D9%81%D9%8A-%D8%B9%D8%A7%D9%85-%D9%88%D8%A7%D8%AD%D8%AF\" style=\"\" rel=\"noopener\">CNBC Arabia<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The UNDP back in May estimated that regional tensions could cost the economy <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6b37866b-b749-4e90-bed0-9d95c9a6cfe9\/war-in-gaza-could-cost-egypt-up-to-usd-20-bn,%253cmark%253e-undp%253c%2Fmark%253e-estimates\" style=\"\" rel=\"noopener\">between USD 5.6 bn and USD 19.8 bn<\/a> \u2014 1.6-5.2% of our annual average GDP \u2014 throughout the past and current fiscal years, depending on how far the conflict escalates. <\/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>#2- CIB to welcome new CEO in 2-3 years:<\/strong> CIB CEO Hisham Ezz El Arab plans to leave his post at the country\u2019s largest private lender within the next 2-3 years, he told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/10\/22\/%D9%87%D8%B4%D8%A7%D9%85-%D8%B9%D8%B2-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8-%D9%84%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D8%B3%D8%A3%D8%AA%D8%B1%D9%83-%D8%B1%D8%A6%D8%A7%D8%B3%D8%A9-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D9%8A-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A-%D9%85%D8%B5%D8%B1-%D8%AE%D9%84%D8%A7%D9%84-3-%D8%B3%D9%86%D9%88%D8%A7%D8%AA\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>, adding that he is currently mentoring three employes, with one expected to take over after his departure. Ezz El Arab was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bce198ad-b5e0-4ce6-8630-bfba62fca05b\/hisham%253cmark%253e-ezz-al-arab%253c%2Fmark%253e-to-take-over-from-hussein-abaza-as-cib%25e2%2580%2599s-new-ceo\" style=\"\" rel=\"noopener\">tapped as the bank\u2019s CEO in September<\/a> as part of a wider board shuffle that saw the lender welcome a new executive director and new executive directors. <\/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\"><strong>#1- Oil and gas announcement incoming? <\/strong>Oil Minister Karim Badawi will join Prime Minister Moustafa Madbouly for his weekly presser later today to brief us on his ministry\u2019s latest developments, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0dyMJX3jopqBtypkPjTCnBWfsQU8RCQCyKp7tQfnq4HRv388WNHYLaB2X5r2ABqEtl\" style=\"\" rel=\"noopener\">statement<\/a>. Badawi spent his week in Alexandria where he attended the <a target=\"_blank\" href=\"https:\/\/moc-egypt.com\/\" style=\"\" rel=\"noopener\">Mediterranean Offshore Conference<\/a> that wrapped yesterday. We will be on the lookout for what Badawi describes as the \u201cfruitful results\u201d of the conference. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2-<\/strong> <strong>It\u2019s day three of the World Bank and IMF annual meetings:<\/strong> The world\u2019s finance ministers, central bank governors, and other big names in finance and policy are in Washington 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>, which kicked off on Monday and will run through Saturday. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the agenda today:<\/strong> A meeting between ministers from the MENA region and Pakistan and the IMF\u2019s managing director; a Brics networking meeting; and events on sovereign debt and liquidity. The full schedule can be found <a target=\"_blank\" href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/annual\/schedule\" style=\"\" rel=\"noopener\">on the event\u2019s official website<\/a>.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#3-<\/strong> <strong>It\u2019s day two of the three-day Brics Summit: <\/strong>The heads of Brics nations \u2014 including President Abdel Fattah El Sisi \u2014 are in the Russian city of Kazan for the Brics Summit 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>What went down during day one? <\/strong>El Sisi met with his Russian counterpart Vladimir Putin on the sidelines of the summit. The two discussed bilateral relations as well as a number of regional and international issues \u2014 the war on Gaza and the Russian-Ukrainian crisis. More on that in the news well, below. <\/p><p class=\"tag-border-left\">HAPPENING TOMORROW- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Chinese investment, trade, and partnerships in the spotlight: <\/strong>The Egyptian Businessmen\u2019s Association and a government delegation from the Chinese city of Linyi are hosting the Conference on Trade and Economic Cooperation with Linyi City tomorrow at the Radisson Blu in Heliopolis, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1938.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> <\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- The mercury dips below the 20\u00b0C mark in Cairo today<\/strong> \u2014 we\u2019re in for a high of 28\u00b0C and a low of 19\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>Surprisingly, it\u2019s not as cold in Alexandria<\/strong>, which is in for 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>The Doing Business with Finland seminar is taking place 28 October<\/strong>, with Finnish and Egyptian companies set to meet at the Finnish Embassy-backed event <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid029HrvAniXUE8wLqTaHXgH8MRBWqc93swZCDNSxKP2AsVmXxCFcrGjCsmoFqFtQwaTl\" style=\"\" rel=\"noopener\">to discuss<\/a> potential healthcare, education, ICT, and food supply partnerships. Finnish companies can register to attend through the <a target=\"_blank\" href=\"https:\/\/link.webropolsurveys.com\/S\/E50CC58C7B1B2E41\" style=\"\" rel=\"noopener\">link shared<\/a> by Finnpartnership, while local companies can register through the <a target=\"_blank\" href=\"https:\/\/docs.google.com\/forms\/d\/1UFDNiPI1QY1sdQdWbWL1c9xR6PQKo-rKpnDPrPnqf7A\/viewform?fbclid=IwY2xjawGEwSpleHRuA2FlbQIxMAABHXzx22y-DDrIG0Fgnnyd6Pc1kwJu8oztF78ibJaMihZxlDDAdBpHHWVISw_aem_WPZmVKG5p3ekbTH0TiVL-A&amp;edit_requested=true\" style=\"\" rel=\"noopener\">link<\/a> shared by the National Initiative for Developing Egyptian Industry (Ebda).<\/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>CORRECTION- <\/strong>In yesterday\u2019s edition of EnterpriseAM Egypt, we mistakenly said that Sawari Ventures\u2019 upcoming Sawari Ventures Fund II has a size of USD 30 mn. The fund instead has a target size of USD 200 mn that it will invest over the next four to five years. The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8520fee1-e996-4862-b80c-e28d10f012f0\/egypt%25e2%2580%2599s-sawari-ventures-is-launching-its-sawari-ventures-fund-ii\" style=\"\" rel=\"noopener\">story<\/a> has been amended on our website.<\/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>It\u2019s a mixed bag on the front pages of the foreign press today<\/strong>, with more talk of a potential ceasefire in the region continuing as US Secretary of State Antony Blinken touches down in Jerusalem for a meeting with Prime Minister Benjamin Netanyahu, more US elections news, and a smattering of business updates. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Blinken and Netanyahu agreed that the killing of Hamas Leader Yahya Sinwar over the weekend opens up possibilities for the end of the war in Gaza<\/strong>, though the meeting seemed to yield no clear plans for what\u2019s to come, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-22\/blinken-and-netanyahu-agree-sinwar-s-death-opens-possibilities?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel <\/strong><strong><a target=\"_blank\" href=\"https:\/\/x.com\/IDF\/status\/1848827621510947040\" style=\"\" rel=\"noopener\">confirmed<\/a><\/strong><strong> for the first time that it had killed Hezbollah\u2019s suspected successor<\/strong>, Hashem Safieddine, in airstrikes on Lebanon earlier this month, along with another Hezbollah commander. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/4a7f34a0-be28-4399-97c1-8e025fcdeef0\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/10\/22\/world\/middleeast\/blinken-netanyahu-cease-fire.html\" style=\"\" rel=\"noopener\">NY Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2024\/oct\/22\/israel-confirms-killing-of-presumed-next-leader-of-hezbollah\" 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>OVER IN THE US- It\u2019s not a great time for The Donald<\/strong>, who just two weeks ahead of elections is still <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/harris-holds-46-43-lead-over-trump-amid-voter-gloom-reutersipsos-poll-finds-2024-10-22\/\" style=\"\" rel=\"noopener\">behind in polls<\/a> that put rival Kamala Harris marginally in the lead. A Republican appeal of a decision blocking a new rule that would have required poll workers to hand-count ballots <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/georgias-top-court-wont-fast-track-appeal-blocked-election-rules-case-2024-10-22\/\" style=\"\" rel=\"noopener\">was also blocked<\/a> by a top Georgia court. Meanwhile, Trump is accusing the UK Labor Party of \u201cforeign interference\u201d and aid of Harris\u2019 campaign. (<a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cdjej417009o\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f404c6fc-1ba6-4a4a-bf04-5b05658a2530\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/us-news\/2024\/oct\/22\/trump-complaint-uk-labour-party\" 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>IN BUSINESS NEWS-<\/strong> A few headlines are getting attention: <\/p><ul>\n<li><strong>Former Abercrombie &amp; Fitch CEO Mike Jeffries has been charged with running a trafficking ring<\/strong> during his time as CEO. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/former-abercrombie-ceo-michael-jeffries-arrested-sex-trafficking-case-wsj-2024-10-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cgj4j05wy31o\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnn.com\/2024\/10\/22\/business\/abercrombie-ceo-mike-jeffries-arrested-sex-trafficking\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a>)<\/li>\n<li><strong>Starbucks has scrapped its guidance as it reported a decline in sales and revenues<\/strong> ahead of schedule. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a8c2d66d-e322-4506-9edd-a57d30f11acf\" style=\"\" rel=\"noopener\">FT<\/a>) <\/li>\n<li><strong>McDonald\u2019s shares fell by 10% after the fast food franchise was linked to a fatal E. coli outbreak<\/strong> in the US that killed at least one person and left 10 others in hospital. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e92b9f55-8bfc-4f2d-af4c-48639b4e58b5\" style=\"\" rel=\"noopener\">FT<\/a>) <\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2503.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We dive into the anticipated rise in infrastructure costs in response to the most recent fuel price hike.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653818 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"653818\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/653818\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653818\" class=\"content-area-description single-story post-653818 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1544.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Somabay<\/span><span style=\"\">, every reason to fall in love.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653819\" 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=\"653819\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/el-sisi-meets-with-putin-on-the-sidelines-of-the-annual-brics-summit\/\">\r\n                            Egypt\u2019s El Sisi meets with Putin on the sidelines of the annual Brics summit                        <\/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\/23\/el-sisi-meets-with-putin-on-the-sidelines-of-the-annual-brics-summit\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The conversation centered around Egypt\u2019s role in the bloc, bilateral relationship, and regional and international issues, according to an Ittihadiya <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/1107116484110412?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Putin emphasized the importance of Egypt\u2019s role in the bloc<\/strong>, saying that \u201cEgypt's membership adds value to the grouping's efforts and contributes to strengthening its role as a platform for promoting multilateral cooperation among developing countries,\u201d the statement read. El Sisi, for his part, expressed Egypt\u2019s commitment to engaging within the Brics\u2019 framework and appreciation for being included in the bloc\u2019s annual summit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More Egypt-Russia cooperation could be on the cards:<\/strong> El Sisi expressed Egypt\u2019s desire to strengthen relations with Russia not just on a multilateral level but also on a bilateral basis, building upon the Strategic Partnership Agreement signed in 2018. El Sisi noted the two sides\u2019 successful collaboration on joint projects, highlighting the Suez Canal Economic Zone\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac898950-cd27-41ab-8c74-6ee6cd976673\/russia-will-start-pouring-money-into%253cmark%253e-riz%253c%2Fmark%253e-buildout\" style=\"\" rel=\"noopener\">Russian Industrial Zone<\/a> and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52aa0e65-5b6f-4c84-aa49-70ac4152bb87\/where-does-progress-stand-on-egypt%25e2%2580%2599s-first-nuclear-power-plant%253cmark%253e-dabaa%253c%2Fmark%253e%3F\" style=\"\" rel=\"noopener\">planned 4.8 GW nuclear power plant<\/a> in Dabaa.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re getting closer to <\/strong><strong>seeing the Russian Industrial Zone up and running: <\/strong>MPs are discussing an agreement that would unlock government financing for the zone, El Sisi said, emphasizing the importance of having Egyptian and Russian experts working together to implement the project. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The war in Gaza and Lebanon was also a point of discussion<\/strong>, with the two presidents calling for an immediate ceasefire and stressing the \u201cvital need for de-escalation and avoiding practices and measures that would only further aggravate the situation in the region.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Intra-bloc trade also got a look-in: <\/strong>El Sisi made a case for using the Brics platform to find workarounds for external trade restrictions that hamper intra-bloc trade \u2014 particularly that between Egypt and Russia (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=O29dTSLoN-4\" style=\"\" rel=\"noopener\">watch, runtime: 5:35<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Ahead of the summit, Russia was championing the idea of setting up <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/647550cc-d91a-4aaf-b19c-179e0363316a\/russia-wants-to-de-dollarize%253cmark%253e-brics%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">a new Brics<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/647550cc-d91a-4aaf-b19c-179e0363316a\/russia-wants-to-de-dollarize%253cmark%253e-brics%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">payment system<\/a> to push back against dollarization, help countries avoid sanctions, and limit the disciplinary influence of Western financial institutions. And while Putin ruled out a unified currency for the time being, bloc members are reportedly in talks over the use of digital currencies for investment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The focus is on results: <\/strong>Speaking virtually at the Brics Business Forum <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8e4025cc-e165-4c8b-9e73-6eca0560bff2\/el-sisi-underscores-economic-collaboration-at%253cmark%253e-brics%253c%2Fmark%253e-business-forum-%2B-abdelatty-warns-of-broader-conflict-risk\" style=\"\" rel=\"noopener\">last Friday<\/a>, El Sisi said that he hoped the forum would \u201cyield tangible outcomes that enhance investments and economic cooperation among our nations.\u201d<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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                 \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\/23\/helios-is-eying-three-more-big-ticket-egyptian-acquisitions\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1959.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653823\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/helios-is-eying-three-more-big-ticket-egyptian-acquisitions\/1959-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1959.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1959.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1959.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1959.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653822\" class=\"content-area-description single-story post-653822 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam tag-helios-investment-partners 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\/.0216359f-2dba-4270-8194-d634641b2432.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Raya Foods may just be the beginning of Helios\u2019 Egypt acquisition spree: <\/strong>Africa-focussed and London-based PE outfit Helios Investment Partners is looking into acquiring stakes in another three Egyptian companies, the company\u2019s consumer and healthcare head Raed Barkatis told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/10\/22\/-%D9%87%D9%8A%D9%84%D9%8A%D9%88%D8%B3-%D8%A7%D9%86%D9%81%D8%B3%D8%AA%D9%85%D9%86%D8%AA-%D8%A7%D9%84%D8%A8%D8%B1%D9%8A%D8%B7%D8%A7%D9%86%D9%8A%D8%A9-%D8%AA%D8%AF%D8%B1%D8%B3-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AD%D9%88%D8%A7%D8%B0-%D8%B9%D9%84%D9%89-%D8%AD%D8%B5%D8%B5-%D9%81%D9%8A-3-%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D9%85%D8%B5%D8%B1%D9%8A%D8%A9\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> <strong>. <\/strong>The three targeted companies work in the fintech, digital infrastructure, data center, and consumer goods sectors and could see Helios invest between USD 40-150 mn per company, Barkatis added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Raya Holding\u2019s board <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7dbf7945-1620-41da-aab8-a5de87fa2f87\/raya-foods%25e2%2580%2599-mystery-suitor-is%253cmark%253e-helios%253c%2Fmark%253e-investment-partners\" style=\"\" rel=\"noopener\">approved and initially accepted<\/a> Helios\u2019 offer to acquire 49% of subsidiary Raya Foods for USD 40 mn last week. Half of Helios\u2019 USD 40 mn acquisition bid will go towards <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aae6db9d-ba00-47ce-a6ca-873528b02da4\/raya-foods-eyes-usd-20-mn-factory-to-boost-exports\" style=\"\" rel=\"noopener\">building a new factory<\/a> partly dedicated to freeze-dried fruits and vegetables with the aim of upping exports \u2014 construction will begin in 1Q 2025 and the factory should be operational by the end of the year, according to Barkatis.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The long-term plan for Raya Foods:<\/strong> Barkatis did not rule out an IPO on the bourse, but emphasized the company has a five to seven-year expansion plan ahead of it and that any decision about an offering would be taken much later down the line.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Helios is gearing up to invest some USD 250 mn in Egypt in the near future<\/strong>, with a particular focus on potential investments in the food, consumer, healthcare, and fintech sectors, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/10\/20\/1835859\" style=\"\" rel=\"noopener\"><\/a> local media recently quoted Barkatis as saying earlier this week. The PE currently has USD 200 mn invested in the local market \u2014 including its USD 40 mn Raya Foods bid \u2014 in the fintech, agriculture, and food sectors, Barkatis said.<\/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\/helios-investment-partners\/\">Helios Investment Partners<\/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            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653824\" 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=\"653824\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/egypt-wants-to-localize-the-manufacture-of-12-products\/\">\r\n                            Egypt wants to localize the manufacture of 12 products                        <\/a>\r\n                    <\/h3>\r\n\r\n                    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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\/23\/egypt-wants-to-localize-the-manufacture-of-12-products\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1964.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653825\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/egypt-wants-to-localize-the-manufacture-of-12-products\/1964-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1964.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1964.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1964.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1964.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653824\" class=\"content-area-description single-story post-653824 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-enterpriseam tag-manufacturing tag-national-food-safety-authority 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\/.eec918ff-793b-4b79-9475-b25f6472ad4c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Our localization efforts are in full swing: <\/strong>The Madbouly government will work to localize the manufacture of 12 products selected by the ministries of housing and industry, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02nDoK7iLHadENgXGjVqHX3ZGiTCTdjNmaUWrMkuzyAVdSaccKbFtvjSwbUha99G42l\" style=\"\" rel=\"noopener\">readout<\/a> following the ministerial group for industrial development meeting.<\/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 list: <\/strong>The products include electric motors, generators, valves, pumps, water filtration devices, electric tools, solar cells, electrical control and power distribution panels, and elevators.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Prepping for the eventual rollout of CBAM: <\/strong>The government is working on a plan to help Egyptian industry adjust to meet the EU\u2019s new standards, the Carbon Border Adjustment Mechanism (CBAM) \u2014 set to fully go into effect starting 2026 \u2014 to safeguard Egypt\u2019s export competitiveness. The plan is being developed ahead of being presented to Prime Minister Moustafa Madbouly.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters:<\/strong> The EU is our largest trading partner \u2014 EU countries accounted for 31.1% of our exports in FY 2022-23. EU-bound exports of aluminum accounted for 79% of our total aluminum exports in 2022, along with 36.7% of iron and steel exports, 30.6% of fertilizer exports, and 4.1% of cement exports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DIVE DEEPER- <\/strong>We dove into the ins and outs of the mechanism, what it means for Egypt, and why we need to adapt to it in a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63f69456-ee23-4b0d-ab40-cf8156033b69\/fertilizer,-cement,-steel,-and-aluminum-exporters-need-to-prepare-for-the-eu%25e2%2580%2599s-carbon-border-adjustment-mechanism\" style=\"\" rel=\"noopener\">Going Green<\/a> published earlier this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Shaking up the F&B sector: <\/strong>Food products will require food safety and validity certificates from the National Food Safety Authority (NFSA) starting January 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>The Industry Ministry is organizing a procurement exhibition to connect manufacturers with suppliers of production supplies and spare parts, aiming to boost local supply chains and industrial integration.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Happening next week:<\/strong> Officials from the Electricity Ministry and New Urban Communities Authority will join the weekly meetings that Industry Minister Kamel El Wazir holds with industrial investors across Egypt's governorates to address ongoing issues in industrial zones.<\/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\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-food-safety-authority\/\">National Food Safety Authority<\/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=\"653826\" 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=\"653826\">\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\">Real estate<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/saudi-real-estate-firm-swaps-land-in-matrouh-for-plots-near-new-cairo\/\">\r\n                            Saudi real estate firm swaps land on Egypt\u2019s Matrouh for plots near New Cairo                        <\/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\/23\/saudi-real-estate-firm-swaps-land-in-matrouh-for-plots-near-new-cairo\/\" 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\/23\/saudi-real-estate-firm-swaps-land-in-matrouh-for-plots-near-new-cairo\/')\">\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\/23\/saudi-real-estate-firm-swaps-land-in-matrouh-for-plots-near-new-cairo\/\">\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=Saudi real estate firm swaps land in Matrouh for plots near New Cairo&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/saudi-real-estate-firm-swaps-land-in-matrouh-for-plots-near-new-cairo\/\">\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\/23\/saudi-real-estate-firm-swaps-land-in-matrouh-for-plots-near-new-cairo\/&title=Saudi real estate firm swaps land in Matrouh for plots near New Cairo\">\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=Saudi+real+estate+firm+swaps+land+in+Matrouh+for+plots+near+New+Cairo+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F23%2Fsaudi-real-estate-firm-swaps-land-in-matrouh-for-plots-near-new-cairo%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\/23\/saudi-real-estate-firm-swaps-land-in-matrouh-for-plots-near-new-cairo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1987.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653827\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/saudi-real-estate-firm-swaps-land-in-matrouh-for-plots-near-new-cairo\/1987-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1987.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1987.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1987.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1987.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653826\" class=\"content-area-description single-story post-653826 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate tag-enterpriseam tag-real-estate tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.0864269d-4cc5-4e56-9fe0-4ad539ee5d58.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Privately<\/strong><strong>-owned Saudi real estate firm Samla and Alm El Room Urban Development Co. will swap nearly 950 acres of land in Matrouh\u2019s Alm El Room<\/strong> for two plots of land in and near New Cairo after inking an agreement with the Housing Ministry, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianMinistyOfHousing\/posts\/pfbid023yEXoHUXjiqYvi63pWwkrBDhosKk7ZFevhMeHwpHmBzpPy6YpURGzUFhPwBV9AhYl\" style=\"\" rel=\"noopener\">ministry statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why does it matter?<\/strong> It\u2019s the latest sign that the government of Egypt is serious about doing business with Saudi companies. The contract signing comes after Crown Prince and Prime Minister Mohamed bin Salman\u2019s surprise visit to Cairo last week to meet with President Abdel Fattah El Sisi. Among other things, the two <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7bbe0aae-ba3a-4ca8-a09e-ba17d1cfce14\/mohammed-bin%253cmark%253e-salman%253c%2Fmark%253e-spent-the-day-in-cairo,-talking-trade,-investment,-diplomacy-with-el-sisi\" style=\"\" rel=\"noopener\">signed an agreement<\/a> on the promotion and protection of investment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s Samla and Alm El Room getting? <\/strong>The company will take 97 acres near Madinaty and another 380 acres near the Katameya-Ain Sokhna road. Walid Abbas, assistant housing minister and supervisor of planning and projects at NUCA, was on hand for the signing, framing it in the context of Egypt\u2019s bid to resolve outstanding disputes and roll out the red carpet for investors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Our friends at ALC-Alieldean Weshahi &amp; Partners ALC were advisors to Samla and Alm El Room on the transaction.<\/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\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653828\" 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=\"653828\">\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\">FINANCIAL SERVICES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/the-fra-has-new-securitization-regulations\/\">\r\n                            The FRA has new securitization regulations                        <\/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\/23\/the-fra-has-new-securitization-regulations\/\" 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\/23\/the-fra-has-new-securitization-regulations\/')\">\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\/23\/the-fra-has-new-securitization-regulations\/\">\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=The FRA has new securitization regulations&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/the-fra-has-new-securitization-regulations\/\">\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\/23\/the-fra-has-new-securitization-regulations\/&title=The FRA has new securitization regulations\">\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=The+FRA+has+new+securitization+regulations+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F23%2Fthe-fra-has-new-securitization-regulations%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\/23\/the-fra-has-new-securitization-regulations\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1019.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653829\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/the-fra-has-new-securitization-regulations\/1019-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1019.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1019.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1019.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1019.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653828\" class=\"content-area-description single-story post-653828 post type-post status-publish format-standard has-post-thumbnail hentry category-financial-services 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\/.2f2b9ea0-1f76-4675-aaf9-196389d3e7fe.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>New regulations for securitization activity:<\/strong> The Financial Regulatory Authority (FRA) has <a target=\"_blank\" href=\"https:\/\/fra.gov.eg\/fra_news\/%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d9%86%d8%b8%d9%85-%d8%b6%d9%88%d8%a7%d8%a8%d8%b7-%d8%aa%d9%88%d8%b1%d9%8a%d9%82-%d8%a7%d9%84%d8%ad%d9%82\/?fbclid=IwY2xjawGEvSZleHRuA2FlbQIxMAABHTj4hz-xLdCEVASVebRGPO50Z3tddYMDlY5ODVcgN4yopR1jcLYAzAabJQ_aem_FJ-xUimuH6ehmpR6pEuYIw\" style=\"\" rel=\"noopener\">released<\/a> a circular outlining new regulations for securitization activity, to protect those who invest in securities and ensure the market operates efficiently. <\/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 do they entail? <\/strong>The new regulations include: <\/p>\n<ul>\n<li><strong>Mandatory e-reporting:<\/strong> Securitization companies are now required to submit detailed information about their securitization portfolios electronically to the FRA within a month of the circular\u2019s issuance;<\/li>\n<li><strong>Swift transfer of receivables: <\/strong>The company that owns the underlying asset must enter into an agreement with the securitization company that stipulates that the asset-holder will collect payments and transfer them to the securitization company in a timely manner.<\/li>\n<li><strong>Single-use portfolios only:<\/strong> A single portfolio of financial assets cannot have been previously securitized and cannot be subject to guarantees for loans or credit facilities.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The FRA also issued <\/strong><strong><a target=\"_blank\" href=\"https:\/\/fra.gov.eg\/fra_news\/%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d8%b5%d8%af%d8%b1-%d9%83%d8%aa%d8%a7%d8%a8-%d8%af%d9%88%d8%b1%d9%8a-%d8%a8%d8%b4%d8%a3%d9%86-%d8%b6%d9%88\/?fbclid=IwY2xjawGEvSdleHRuA2FlbQIxMAABHR7hRZPEOeKkVCN6GfAbPQiAG-qcyJ-XSof82KfdFExtSmrnXNKrV0-grg_aem_DoDlcH8LHy_6WWkakW2x_w\" style=\"\" rel=\"noopener\">a separate circular<\/a><\/strong><strong> regar<\/strong><strong>ding the transfer of credit portfolios link<\/strong><strong>ed <\/strong><strong>to NBFIs to other entities<\/strong>, including licensed financing entities authorized to engage in the same activity, banks, securitization companies, and investment funds. The key points include:<\/p>\n<ul>\n<li><strong>Transfers require FRA approval: <\/strong>NBFIs must get the greenlight from the FRA before transferring their credit portfolios to another entity; <\/li>\n<li><strong>Credit portfolios must be sound:<\/strong> Portfolios slated for transfer must be composed of debtors who have been regularly making payments;<\/li>\n<li><strong>Collateral requirements for consumer finance contracts: <\/strong>For consumer finance contracts in particular, the circular limits the use of one source of collateral to one transfer. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More transparent non-banking finance is the goal:<\/strong> The new regulations come as part of a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fad9a340-2bc1-411b-be40-a36c77042c0c\/%253cmark%253efra%253c%2Fmark%253e-updates-m&a-rules-for-nbfis\" style=\"\" rel=\"noopener\">broader FRA push<\/a> to create a more investment-friendly environment to attract more investments in NBFIs by simplifying procedures while maintaining the required oversight.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653830 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"653830\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/653830\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653830\" class=\"content-area-description single-story post-653830 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicContactUs\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2301.jpeg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653831\" 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=\"653831\">\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\/23\/israels-war-on-gaza-was-the-main-talking-point-on-the-airwaves-last-night\/\">\r\n                            Israel\u2019s war on Gaza was the main talking point on the airwaves last night                        <\/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\/23\/israels-war-on-gaza-was-the-main-talking-point-on-the-airwaves-last-night\/\" 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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Israel will act in its own national security interest \u2014 with continued US weapons and intelligence support \u2014 to achieve a complete victory, rather than a partial one, Bolton added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When asked if Trump or Harris could bring about the end of the war,<\/strong> Bolton said that it was an \u201copen question\u201d with no clear answer, instead reiterating the need for both Hamas and Hezbollah to surrender for the war to come to an end (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/YahdothFiMasr\/videos\/1703917527052084\/?__cft__[0]=AZXPt6YeLntC4xQGc4TjhdUpkhsY1mCNIlsVW5RlkKfB8-EyGZMrX91Q2khr0I8LTpEtNW4EwPsBn0UoyAVefEp47tXbmS7oooW-K8SFZPbR72v1-CaJ7VlwvY66ATkun7-zFI8pzCPW2tJTjVWQyj6OrI6B5f-rvCgTFY8-DlA73D8iY46-Ogw6v8LY5R6T_HtuvsXrmwALV-v1XhuL5G5G&__tn__=%2CO%2CP-R\" style=\"\" rel=\"noopener\">watch, runtime: 5:02<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Blinken\u2019s visit to the region this week is largely inconsequential:<\/strong> The US can\u2019t make any decisive decisions before November\u2019s presidential elections unless Israel and Netanyahu feel that they have achieved some form of decisive victory, Akhbar Al Youm chairman Islam Afifi told Faten Abdel Maaboud on Salaat El Tahrir (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=546026434684794\" style=\"\" rel=\"noopener\">watch, runtime: 1:48<\/a>). Afifi added that the US has not imposed anything on Israel after the last 11 visits to the region and is unlikely to do so following Blinken\u2019s current trip, which kicked off on Monday and is set to last until Friday. <\/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\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653833\" 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=\"653833\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/alaa-abdel-fattah-is-making-headlines-again-as-his-mother-continues-hunger-strike\/\">\r\n                            Alaa Abdel Fattah is making headlines again as his mother continues hunger strike                        <\/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\/23\/alaa-abdel-fattah-is-making-headlines-again-as-his-mother-continues-hunger-strike\/\" 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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Soueif is pushing for stronger action from the newly-elected UK government, telling the state broadcaster that \u201cI\u2019m keeping it up until Alaa is free or I\u2019m taken to hospital in a terrible state.\u201d<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alaa-abdel-fattah\/\">Alaa Abdel Fattah<\/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=\"653835\" 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=\"653835\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/khalda-petroleum-has-a-usd-70-mn-diesel-project-brewing-plus-news-from-amea-power-hhd-delta-sugar\/\">\r\n                            Khalda Petroleum has a USD 70 mn diesel project brewing                        <\/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\/23\/khalda-petroleum-has-a-usd-70-mn-diesel-project-brewing-plus-news-from-amea-power-hhd-delta-sugar\/\" 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\/23\/khalda-petroleum-has-a-usd-70-mn-diesel-project-brewing-plus-news-from-amea-power-hhd-delta-sugar\/')\">\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\/23\/khalda-petroleum-has-a-usd-70-mn-diesel-project-brewing-plus-news-from-amea-power-hhd-delta-sugar\/\">\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=Khalda Petroleum has a USD 70 mn diesel project brewing. PLUS: News from AMEA Power, HHD, Delta Sugar,&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/khalda-petroleum-has-a-usd-70-mn-diesel-project-brewing-plus-news-from-amea-power-hhd-delta-sugar\/\">\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\/23\/khalda-petroleum-has-a-usd-70-mn-diesel-project-brewing-plus-news-from-amea-power-hhd-delta-sugar\/&title=Khalda Petroleum has a USD 70 mn diesel project brewing. PLUS: News from AMEA Power, HHD, Delta Sugar,\">\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=Khalda+Petroleum+has+a+USD+70+mn+diesel+project+brewing.+PLUS%3A+News+from+AMEA+Power%2C+HHD%2C+Delta+Sugar%2C+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F23%2Fkhalda-petroleum-has-a-usd-70-mn-diesel-project-brewing-plus-news-from-amea-power-hhd-delta-sugar%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\/23\/khalda-petroleum-has-a-usd-70-mn-diesel-project-brewing-plus-news-from-amea-power-hhd-delta-sugar\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1955.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653836\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/khalda-petroleum-has-a-usd-70-mn-diesel-project-brewing-plus-news-from-amea-power-hhd-delta-sugar\/1955-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1955.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1955.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1955.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1955.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653835\" class=\"content-area-description single-story post-653835 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-aviation tag-delta-sugar tag-earnings tag-energy tag-enterpriseam tag-eu tag-legislation tag-oil-and-gas tag-pharma tag-real-estate tag-renewables tag-vacsera 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_408146\"\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\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/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\/.851f4dac-c8a4-49f0-8ede-5e38f540f12d.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">ENERGY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Khalda Petroleum to invest USD 70 mn in new diesel project:<\/strong> Khalda Petroleum \u2014 a JV between US oil producer Apache and EGPC \u2014 will allocate USD 70 mn of its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4a3e9d9-a795-4882-908c-603c78991bfb\/egypt-will-lead-the-international-gas-union-from-2028-to-2031\" style=\"\" rel=\"noopener\">planned USD 1.3 bn in investments<\/a> earmarked for the current fiscal year to launch a new diesel production project, chairman Saeed Abdel Moneim told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/10\/21\/1836224\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The investment comes as part of a broader plan to boost production by 5% to 145k barrels per day. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p><p class=\"tag-border-left\">RENEWABLES-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some 500 MW of renewables started feeding the national grid <\/strong>after UAE\u2019s AMEA Power wrapped up construction of its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d1a2b66-3c41-449b-934a-06d2b5f0d4ee\/the-roadmap-to-adding-28-gw-of-renewable-energy-to-the-country%25e2%2580%2599s-energy-mix#:~:text=And%20there%E2%80%99s%20more%20to%20come%3A%20There%20are%20a%20number%20of%20new\" style=\"\" rel=\"noopener\">500 MW Abydos solar plant<\/a> in Kom Ombo and linked it to the national grid after months of operational testing, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d8%a7%d9%84%d9%86%d9%88%d9%8a%d8%b3-%d8%a7%d9%84%d8%a5%d9%85%d8%a7%d8%b1%d8%a7%d8%aa%d9%8a%d8%a9-%d8%aa%d9%86%d9%87%d9%8a-%d8%aa%d9%86%d9%81%d9%8a%d8%b0-%d8%a3%d8%ad%d8%af%d8%ab-%d8%a7\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports. The Egyptian Electricity Transmission Company will purchase the energy generated by the solar plant <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bb1356d6-f56b-48d1-895e-9e21e3e3a668\" style=\"\" rel=\"noopener\">for 25 years<\/a> as per a previously-inked offtake agreement.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> AMEA Power is investing <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0e0776b4-6497-4dbd-9af6-c265e8eaedbc\/%253cmark%253eamea%253c%2Fmark%253e-power-to-invest-usd-800-mn-to-develop-africa%25e2%2580%2599s-largest-solar-power-plant-and-battery-storage-projects-in-upper-egypt.-plus:-scatec,-two-int%25e2%2580%2599l-consortia-set-the-wheels-in-motion-on-renewables-projects.\" style=\"\" rel=\"noopener\">USD 800 mn<\/a> to develop and expand solar and battery energy storage projects in Upper Egypt \u2014 adding a 300 MWh storage system to the Abydos solar plant and setting up a 1 GW solar facility with a 600 MWh battery storage system in Benban. The company is also working on a 500 MW wind farm in Ras Ghareb dubbed Amunet, which is scheduled to come online in 3Q 2025.<\/p><p class=\"tag-border-left\">AVIATION-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Borg El Arab and El Alamein airports are getting a capacity boost come <\/strong><strong>November:<\/strong> Developments to the Borg El Arab and El Alamein International airports are set to be completed by early November, Civil Aviation Minister Sameh Elhefny <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0iEVZoghnj7MNWK6SsGVk5WhbW8RckUWKJZDd3NSr7YcR4rYV5reKBYoNpGUcdacRl\" style=\"\" rel=\"noopener\">said<\/a>. Borg El Arab International Airport will have the capacity to welcome 6 mn passengers a year when the government and the Japan International Cooperation Agency (JICA) set up Terminal 2 \u2014 the country\u2019s first eco-friendly passenger terminal. Meanwhile, work on the El Alamein International Airport is set to push its annual capacity to 1 mn passengers.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DIG DEEPER- <\/strong>The government has been expanding the country\u2019s airports and adding new ones, offering flight incentives, and even working towards getting private players to run the nation\u2019s airports as part of efforts to overhaul Egypt\u2019s aviation sector, in a bid to boost tourism inflows and turn the country into a cargo and transit hub. We dive into the details in a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e94bb97-4820-4349-bc3a-d65afa8cdcb1\/egypt-looks-towards-airport-expansion,-smart-policy,-and-the-private-sector-to-support-its-ambitious-aviation-goals\" style=\"\" rel=\"noopener\">Hardhat<\/a> published earlier this year.<\/p><p class=\"tag-border-left\">LEGISLATION-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MPs approve EUR 11 mn in grants from the EU:<\/strong> The House of Representatives approved two grants worth a total of EUR 11 mn from the EU \u2014 EUR 8 mn will go towards fighting child labor and help provide children with access to protective services related to education, healthcare, nutrition, housing, and others and another EUR 3 mn will go towards funding the production of vaccines and drugs.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO APPROVED- <\/strong>MPs gave final approval to a draft bill establishing the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7073f2f-9d72-4461-bd95-59e77a8dd19e\/the-details-of-philip-morris%25e2%2580%2599-eastern-company-stake-acquisition.-plus:-news-from-azza-fahmy,-cabinet,-ina\" style=\"\" rel=\"noopener\">National Council for<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7073f2f-9d72-4461-bd95-59e77a8dd19e\/the-details-of-philip-morris%25e2%2580%2599-eastern-company-stake-acquisition.-plus:-news-from-azza-fahmy,-cabinet,-ina\" style=\"\" rel=\"noopener\">Education, Research, and Innovation<\/a>, which will outline and develop education policies.<\/p><p class=\"tag-border-left\">REAL ESTATE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HHD board greenlights EGP 2.2 bn land purchase in Mansoura:<\/strong> The board of Heliopolis Housing and Development (HHD) approved the purchase of a 52k sqm plot in Mansoura from the Holding Company for Spinning and Weaving for EGP 2.2 bn, the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1912.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> HHD and the Holding Company for Spinning and Weaving <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a1d609d-2639-4eb7-8d42-6c05d33b8897\/b2gold-is-looking-to-sell-gold-exploration-licenses-to-lotus-gold.-plus:-heliopolis-housing-multi-egp-bn-land-purchase,-egyptian-national-railways-loan\" style=\"\" rel=\"noopener\">in January<\/a> inked a cooperation agreement that saw HHD make an EGP 2 bn down payment on a plot to use for a real estate project.<\/p><p class=\"tag-border-left\">M&amp;A-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Premium Healthcare\u2019s acquisition spree continues:<\/strong> Premium Healthcare \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7a33d2e3-d3e3-4352-bf58-a6677b08717c\/%253cmark%253ecity-lab%253c%2Fmark%253e-rebrands-as-premium-healthcare-group,-announces-four-new-acquisition-targets\" style=\"\" rel=\"noopener\">formerly<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7a33d2e3-d3e3-4352-bf58-a6677b08717c\/%253cmark%253ecity-lab%253c%2Fmark%253e-rebrands-as-premium-healthcare-group,-announces-four-new-acquisition-targets\" style=\"\" rel=\"noopener\">City Labs<\/a> \u2014 has finalized the acquisition of local lab operator <a target=\"_blank\" href=\"https:\/\/hassab.com\/site\/\" style=\"\" rel=\"noopener\">Hassab Labs<\/a> for EGP 298 mn, with EGP 14 mn already paid and the remainder to follow after a capital increase, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1941.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The medical group\u2019s board also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/32129322-9c63-4afb-9015-6f4043e56abb\/city-lab-is-making-a-play-for-five-more-medical-companies\" style=\"\" rel=\"noopener\">greenlit the acquisition<\/a> of 50% of Saudi Arabia\u2019s Distinguished Diagnostics for SAR 14.8 mn (EGP 195 mn). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Part of a bigger plan: <\/strong>The medical diagnostics company has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/83a8a376-50ec-4261-871d-09eab5b57b6c\/more-international-players-are-interested-in-damietta%25e2%2580%2599s-green-ammonia-project.-plus:-news-from-taqa-arabia,%253cmark%253e-premium-healthcare%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">plans to expand<\/a> its network of labs to 216 across Egypt, Saudi Arabia, and Jordan next year.<\/p><p class=\"tag-border-left\">COMMODITIES- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Supply Ministry opens the door for fertilized egg imports in efforts to control rising <\/strong><strong>prices:<\/strong> The Agriculture Ministry has given ten firms operating in the poultry sector the greenlight to import fertilized eggs for broiler and layer chicks in addition to table eggs, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/10\/22\/1836495\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing ministry official Tarek Soliman. The measure aims to combat recent increases in local poultry and chick prices, and will remain in place until prices stabilize, Soliman added.<\/p><p class=\"tag-border-left\">PHARMA-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Locally-made polio vaccines:<\/strong> State-owned vaccine maker <a target=\"_blank\" href=\"https:\/\/www.vacsera.com\/\" style=\"\" rel=\"noopener\">Vacsera<\/a> has inked a cooperation agreement with Dutch pharma firm <a target=\"_blank\" href=\"https:\/\/www.bbio.nl\/en\/\" style=\"\" rel=\"noopener\">Bilthoven Biologicals<\/a> to locally produce injectable polio vaccines, according to a Health Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/BM73QkkEMvyDTmc8\/\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p><p class=\"tag-border-left\">DEBT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fresh funds for Madkour expansion:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/redir\/redirect?url=http%3A%2F%2Fwww%2Emadkour%2Ecom%2Eeg&amp;urlhash=0NdW&amp;trk=about_website\" style=\"\" rel=\"noopener\">Madkour Group<\/a> has secured a EGP 1.2 bn facility from Suez Canal Bank, the company said in a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7254129101685280768\/\" style=\"\" rel=\"noopener\">LinkedIn post<\/a>. The funds will go toward developing the company\u2019s current and future projects domestically and abroad.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>Madkour last month inked a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9eeb439f-b45e-4366-8006-bb20b5932505\/beltone-leasing-and-factoring-signs-a-egp-400-mn-agreement-with%253cmark%253e-madkour%253c%2Fmark%253e-group\" style=\"\" rel=\"noopener\">EGP 400 mn leasing and factoring agreement<\/a> with Beltone Holding subsidiary Beltone Leasing and Factoring, with the proceeds earmarked to \u201cpursue new growth plans in various markets.\u201d<\/p><p class=\"tag-border-left\">EARNINGS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Delta Sugar saw its net income dip<\/strong><strong> 17.8%<\/strong><strong> y-o-y to EGP 1.2 bn during the first nine <\/strong><strong>months of 2024<\/strong>, the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1923.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The company attributed the drop to higher production input costs, a drop in sales, and increased interest on credit facilities. Meanwhile, the sugar maker\u2019s revenues declined 58.3% y-o-y during the nine-month period to record EGP 2.3 bn. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/earnings\/\">earnings<\/a>\n      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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1983.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1983.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1983.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1983.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653837\" class=\"content-area-description single-story post-653837 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-banking tag-enterpriseam tag-hsbc 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\/.fac133fb-6c8f-474d-870d-c4e674c3117a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>HSBC\u2019s Middle East operations will be paired up with Asia Pacific<\/strong> as Europe\u2019s biggest lender kicks off its first major restructuring in more than a decade under new CEO Georges Elhedery, who took the helm in September. The bank announced the restructuring in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1984.pdf\" style=\"\" rel=\"noopener\">disclosure to the London Stock Exchange (pdf)<\/a> early yesterday morning, saying all the changes go into effect 1 January 2025. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s happening in our region? <\/strong>What HSBC presently calls the MENAT (Middle East, North Africa, Turkey) region will now be part of an \u201cEastern Markets\u201d unit along with the former Asia-Pacific region, reporting in to <a target=\"_blank\" href=\"https:\/\/www.hsbc.com\/who-we-are\/leadership-and-governance\/senior-management\/david-liao\" style=\"\" rel=\"noopener\">David Liao<\/a> (and HSBC veteran and member of Hong Kong\u2019s elite) and Surendra Rosha. <strong>HSBC Middle East CEO Stephen Moss will leave the bank<\/strong>, as will Europe chief Colin Bell. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other changes at HSBC: <\/strong>It will create a new \u201cwholesale\u201d or corporate and investment banking group by merging its commercial banking business with its global banking and markets team and its other Western markets. It\u2019s also doubling down on international wealth and premier banking, particularly in the Middle East and Asia. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The result: A streamlined structure and fewer people sitting around the exco table <\/strong>as HSBC looks to grow in the West while capturing the globally critical corridor between Asia and the Middle East. From 1 January, HSBC will have four businesses: Hong Kong, the UK, corporate and institutional banking, and international wealth and premier banking. <strong>It will also have its first woman CFO <\/strong>(Elhedery\u2019s last post before becoming CEO) and will downsize and rebrand its top executive committee, which contracts to 12 members from 18 and will now be called the \u201cgroup \u2019\u2019operating committee.\u201d <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why does it matter here? <\/strong>HSBC is an influential player in MENA with a substantial footprint. It banks large regional corporates, multinationals, and the affluent through commercial banking operations across Egypt and the UAE and through SAB in Saudi Arabia. It\u2019s also a sought-after advisor and arranger of capital and debt raisings across the region: <\/p><ul>\n<li>It recently quarterbacked <strong>Arabian Mills<\/strong>\u2019 Tadawul IPO and is working now on the IPOs of <strong>LuLu Retail<\/strong> (ADX) and <strong>UIHC<\/strong> (Tadawul); <\/li>\n<li>It provides or arranges debt and equity for regional banks (most recently joining a sustainability-linked facility for <strong>Al Rajhi<\/strong> and an AT1 capital raise for <strong>Dubai Islamic Bank<\/strong>);<\/li>\n<li>It is advising on everything from <strong>privatization<\/strong> sales in Egypt to <strong>KAFD<\/strong>\u2019s ambitions to raise USD 750 mn to fuel its growth as the latter mounts a challenge to DIFC.<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why is it happening? <\/strong>Elhedery (<a target=\"_blank\" href=\"https:\/\/www.hsbc.com\/who-we-are\/leadership-and-governance\/board-of-directors\/georges-elhedery\" style=\"\" rel=\"noopener\">bio<\/a>) is a regional veteran who was previously based in Dubai as regional head of global markets and later as CEO for the MENAT region. He took over in September from CEO Noel Quinn and is now reshaping an institution that some argue has become too organizationally complex. Quinn and others on his team were against the move to a wholesale banking model (with corporate and investment banking under one division), which has been debated inside HSBC off-and-on for some time. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>COVERAGE- <\/strong>The news leads the front pages of the financial press this morning: <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a15352c6-9ed8-44a5-8c98-b199d461222d\" style=\"\" rel=\"noopener\">Financial<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a15352c6-9ed8-44a5-8c98-b199d461222d\" style=\"\" rel=\"noopener\">Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/hsbc-appoints-pam-kaur-first-female-cfo-2024-10-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-22\/hsbc-streamlines-business-units-into-four-names-new-cfo\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/10\/22\/business\/dealbook\/hsbc-restructuring-china-us.html\" style=\"\" rel=\"noopener\">New York Times DealBook<\/a>.<\/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>The Nikkei is flat this morning despite Tokyo Metro shares gaining 45% in their market <\/strong><strong>debut <\/strong>\u2014 it\u2019s Japan\u2019s biggest IPO in six years, raising the equivalent of USD 2.3 bn. The Hang Seng, Shanghai Composite, and ASX 200 were up slightly as traders digested signals that Wall Street\u2019s rally may have stalled. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The opening bell: <\/strong>Equities futures suggest you can expect major in Europe as well as on Wall Street and Bay Street to come under moderate selling pressure when Western markets open later this morning. <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,427<\/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: +22.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 48.63<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.76<\/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 48.62<\/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 48.72<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,957<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: -0.1%)<\/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>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\">9,246<\/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: -3.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,467<\/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: +10.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,307<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +7.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,939<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +9.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 75.63<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.30<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,763<\/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%<\/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 67,474<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +60.0%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 0.1% at yesterday\u2019s close<\/strong> on turnover of EGP 5.0 bn (22.5% above the 90-day average). Local investors were the sole net sellers. The index is up 22.2% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Beltone Holding (+5.2%), ADIB (+4.3%), and Elsewedy Electric (+4.3%).<\/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 (-9.2%), Oriental Weavers (-7.2%), and Edita (-3.0%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hsbc\/\">HSBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"653839\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">11<\/div>\r\n    \r\n                        <p class=\"f-graphik\">HARDHAT<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/infrastructure-costs-set-to-rise-as-fuel-prices-increase\/\"> \r\n                            Infrastructure costs set to rise as fuel prices increase<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/infrastructure-costs-set-to-rise-as-fuel-prices-increase\/\" 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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To tackle this, infrastructure players will need to adjust their pricing strategies for upcoming project phases as operational costs surge significantly, we were told.<\/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 sector has been under strain for quite a while<\/strong> on the back of price fluctuations that have increased burdens on both the construction and real estate development sectors. The situation has been further complicated by cuts in state investment spending, which has been the largest funder of infrastructure projects in recent years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The fuel pricing committee has decided to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e1e29b9-af1f-412d-9492-354ca6e76353\/\" style=\"\" rel=\"noopener\">hike fuel prices by 8-17%<\/a> earlier this month \u2014 marking the third hike of the year. Petrol prices have risen by 33-38% year to date, while diesel prices have jumped by 63.6% since the beginning of 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The material-hungry industry will have to pay a lot more for steel, cement, and the like<\/strong><strong> with transport costs potentially rising 25-30%:<\/strong> Secretary-General of the Chamber of Transport and Logistics Amr El Samadony told EnterpriseAM that while the trucks owners association hasn't yet met to determine the price increases for transporting different goods, some are hinting at increases ranging between 25-30%. Ahmed El Zeini, head of the building materials division at the Chamber of Commerce told EnterpriseAM that fuel price hikes could raise prices by EGP 20-30 per ton.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This comes on the back of already increasing container transport costs:<\/strong> El Samadony told us that container transport costs from Alexandria to Cairo have reached EGP 14k and EGP 13.5k from Ain Sokhna to Cairo, compared to around just EGP 3.7k in 2018.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Disorganized distribution channels are also driving up costs:<\/strong> El Zeini told EnterpriseAM that trucks can wait up to a week at cement factories to load agreed-upon quantities, which increases transport costs beyond just fuel expenses. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some sectors are trying to get ahead of the curve with more thought through pricing<\/strong><strong> strategies:<\/strong> The real estate sector has been calculating input costs, inflation, exchange rates, and interest rates, adding a profit margin above the central bank's interest rate to maintain profitability and sector stability, Federation of Egyptian Industries\u2019 real estate division head Osama Saad El Din told EnterpriseAM. While all real estate companies follow some sort of strategy, projects targeting different social segments follow different strategies as margins tend to increase the more expensive the development per unit is.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Developers are trying to restrict price increases to only between phases: <\/strong>\u201cWe aim to maintain stable pricing within each launch phase, then reassess pricing for the next phase,\u201d Saad El Din said. \u201cWith current inflation levels, it's impossible to maintain the same sales prices for units within the same project due to changing production input costs.\u201d Transport costs are also a key challenge, according to Saad El Din, who identified it as one of the most important pricing variables that can affect the pricing process.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Parts of the projects are also being held back from the market until completion: <\/strong>Companies are also holding back 15-20% of project units until completion to leverage inflation in offsetting any operational cost differences that might arise from sudden policy decisions, Mohamed El Bustani, the deputy head of the Federation of Egyptian Chambers of Commerce\u2019s real estate division, told EnterpriseAM. These measures are designed to protect both the real estate market and customers, he emphasized.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Developers have already learnt the hard way after years of dealing with FX shortages and<\/strong><strong> the resulting parallel market:<\/strong> The real estate sector currently is very careful about how it prices its units by conducting feasibility studies through specialized consulting offices for real estate projects that budget for expected government decisions, inflation trajectories, and more to hedge against the country\u2019s often unpredictable economic trajectory, El Bustani told us. El Bustani pointed to the sector\u2019s recent experience with pre-EGP float FX shortages and at-times runaway parallel market that made accurate pricing near impossible as behind the sector\u2019s new-found approach.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But even with unit prices in the real estate sector rising, demand is staying <\/strong><strong>strong<\/strong><strong>:<\/strong> Despite price hikes, Saad El Din sees very high demand for real estate in Egypt, indicating the market will absorb and adapt to these increases caused by increased construction costs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The situation is not as good for contracting activities,<\/strong> according to Egyptian Federation for Construction and Building Contractors (EFCBC) member Mohamed Abdel Raouf. He explained that while real estate development companies have had flexibility to implement successive price hikes over the past period to hedge against price fluctuations and rising production costs and energy prices, companies dealing with government entities are bound by strict laws and decisions that have caused severe losses for contracting companies, now increasing further with the fuel price hike decision.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Contractors are calling for government support:<\/strong> Abdel Raouf noted that industry, agriculture, and tourism sectors have received government-backed financing with subsidized <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c0fbf63f-f196-4ab6-acac-529210bde7e3\/\" style=\"\" rel=\"noopener\">15%<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ab30ba76-0ab5-4e56-8e3f-6913538a4cb3\" style=\"\" rel=\"noopener\">12%<\/a> interest rates, arguing that the contracting sector should be included in one of these initiatives to help absorb successive cost increases, along with expedited payment of dues and stimulating competition through tenders to complete government works.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>The Egyptian Electricity Transmission Company and Siemens signed a contract to <\/strong><strong>expand the Al Ameed transformer station<\/strong>, connecting and powering the in-the-works high-speed electric train route from Ain Sokhna to Marsa Matrouh. (<a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d8%a7%d9%84%d9%85%d8%b5%d8%b1%d9%8a%d8%a9-%d9%84%d9%86%d9%82%d9%84-%d8%a7%d9%84%d9%83%d9%87%d8%b1%d8%a8%d8%a7%d8%a1-%d8%aa%d9%88%d9%82%d8%b9-%d8%b9%d9%82%d8%af%d8%a7-%d9%84%d8%aa%d9%88%d9%81%d9%8a\/\" style=\"\" rel=\"noopener\">Al Mal<\/a>) <\/li>\n<li><strong>Nile goods transport infrastructure in the pipeline: <\/strong>Egypt plans to build 53 docks and 500 floating vessels by 2030 to transport 10 mn tons of goods and 21 mn passengers annually via the Nile. (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/AsharqbEGY\/posts\/pfbid02vVT2xbVM95ufrfxNXMPYwGnhLDHroj2Rh4QDzYfUn6XYzqKvLfK5qARTov2NNnavl?rdid=CtQfJWDZJfpm5fL6\" style=\"\" rel=\"noopener\">Asharq Business<\/a>)<\/li>\n<li><strong>Arab Contractors to build 56 km, USD 70 mn road in Uganda: <\/strong>Local construction firm Arab Contractors <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1a1c99b9-3761-42fc-985c-92bfa6efc431\/%253cmark%253earab-contractors%253c%2Fmark%253e-will-build-usd-70-mn-road-in-uganda.-plus:-news-from-cib,-hsbc,\" style=\"\" rel=\"noopener\">signed a USD 70 mn agreement<\/a> with the Uganda National Roads Authority for the design and construction of the 56 km-long Iganga-Kamuli road project. <\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fuel\/\">fuel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hardhat\/\">Hardhat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"653841\" 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\/23\/653841\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653841\" class=\"content-area-description single-story post-653841 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 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-<\/span><span>2<\/span><span>6 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 style=\"\">28<\/span><span style=\"\"> October (Monday): The Doing Business with Finland Forum, Cairo, Egypt. <\/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 style=\"font-weight:400;\">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>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=\"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>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\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>Securitization regulations | More investments | Localizing more products |  Unchanged outlook.<\/p>\n","protected":false},"featured_media":653815,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-653814","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"b12ac3f7-5582-48ab-aad1-bbe84b65be2b","teaser":"Securitization regulations | More investments | Localizing more products |  Unchanged outlook.","photo_url":"https:\/\/ent.news\/2024\/10\/1985.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>El Sisi meets Putin on the sidelines of the annual Brics Summit - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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