{"id":653896,"date":"2024-10-24T00:00:00","date_gmt":"2024-10-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=653896"},"modified":"2025-12-18T00:49:16","modified_gmt":"2025-12-18T00:49:16","slug":"govt-is-reviewing-the-timeline-and-reforms-put-forward-by-the-imf-madbouly","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/govt-is-reviewing-the-timeline-and-reforms-put-forward-by-the-imf-madbouly\/","title":{"rendered":"Gov\u2019t is reviewing the timeline and reforms put forward by the IMF -Madbouly"},"content":{"rendered":"<section id=\"653898\" 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=\"653898\">\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\/24\/el-sisi-joins-other-heads-of-brics-nations-in-the-summits-first-plenary-session\/\">\r\n                            Egypt\u2019s El Sisi joins other heads of Brics nations in the summit\u2019s first plenary session                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2123.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2123.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653898\" class=\"content-area-description single-story post-653898 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-abdel-fattah-el-sisi tag-enterpriseam 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\/.81b99466-78cf-420b-b1cf-bd49356dcc72.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Goo<\/strong><strong>d mornin<\/strong><strong>g, folks. <\/strong>We are wrapping up the week with a packed issue led by comments from Prime Minister Moustafa Madbouly detailing the latest on our USD 8 bn loan program with the IMF and fresh privatization news. <\/p><p class=\"tag-border-left\">HAPPENING TODAY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- It\u2019s the last day of the Brics Summit in Russia:<\/strong> The heads of Brics nations \u2014 including President Abdel Fattah El Sisi \u2014 are in the Russian city of Kazan for the last day of the annual Brics Summit. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What went down yesterday: <\/strong>El Sisi joined other heads of Brics nations in the summit\u2019s first plenary session (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=L1RfQYHMHm8\" style=\"\" rel=\"noopener\">watch,<\/a><a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=L1RfQYHMHm8\" style=\"\" rel=\"noopener\">runtime: 39:05<\/a>) under the title Strengthening Multilateralism for Just Global Development and Security. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We need new solutions: <\/strong>The president said in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid0292uBbVbbxjPVxiNqY9FxKKWPozmmvj6736k9jA4fZxScrffkNbBp96z8wvbCtpzcl\" style=\"\" rel=\"noopener\">spe<\/a><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid0292uBbVbbxjPVxiNqY9FxKKWPozmmvj6736k9jA4fZxScrffkNbBp96z8wvbCtpzcl\" style=\"\" rel=\"noopener\">ech<\/a> to the summit yesterday that the past few years has shown \u201cwithout doubt the inability of the international system to fairly address the conflicts around the world\u201d and pointed to the \u201cpolarization and selectivity that has come to characterize the international system.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the international order\u2019s shortcomings aren\u2019t just limited to conflicts and political <\/strong><strong>issues: <\/strong>The problems with the current system \u201cextend to economic and developmental issues as well,\u201d El Sisi told the summit. He also made reference to debt levels in developing countries, the lack of funding to hit the UN\u2019s Sustainable Development Goals, and the high cost of financing that does exist.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A more intertwined Brics is part of the solution: <\/strong>El Sisi told the leaders that Egypt is fully behind efforts to enhance cooperation efforts tackling global challenges, and called for joint investment, economic, and development projects to be undertaken \u2014 name checking the agriculture, industry, tech, and renewable energy sectors. Part of this cooperation should include local currency payments between countries and investments being directed with an eye to the comparative advantage that each Brics nation may have in a certain field, El Sisi added. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It was a busy day 2 for El Sisi: <\/strong>The president met his <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid0eApU22uSpbkx3KcEf61zyqkcsSKjSPRn5DzPpsyMVtRMwff6vYBvGKXF7NpZg7vul\" style=\"\" rel=\"noopener\">Palestinian<\/a>, <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid026fx8zaoKd7VsS5viGtPhKjGeFL5bitkJ2WQ4rQJTv2WJk1c9vQBKCYoSxJBsLzm7l\" style=\"\" rel=\"noopener\">Chinese<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02HyeZvAb5icdFgcJ3jJs65J42hrLdj4MnVr7TyvsPbxABGjrif7cGTtT3qV9hV2eal\" style=\"\" rel=\"noopener\">Iranian<\/a> counterparts on the sidelines of the conference. Conversations centered around regional tension and boosting cooperation \u2014 Iranian President Masoud Pezeshkian agreed with El Sisi to further develop relations between the countries after decades of frosty relations. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>El Sisi <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bb97459a-ff6f-4d0a-9dc9-efcb07d757af\/egypt%25e2%2580%2599s-el-sisi-meets-with-putin-on-the-sidelines-of-the-annual-brics-summit\" style=\"\" rel=\"noopener\">met Russian counterpart Vladimir Putin<\/a> on the sidelines of the first day of the summit. The two discussed Egypt\u2019s role in the bloc, bilateral relationship, and regional and international issues.<\/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- It\u2019s day four 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 <a target=\"_blank\" href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/annual\" style=\"\" rel=\"noopener\">International Monetary Fund and World Bank Group Annual Meetings<\/a>. The six-day meetings kicked off last Monday, and will run all the way to Saturday. Check out the full meeting schedule on the <a target=\"_blank\" href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/annual\/schedule\" style=\"\" rel=\"noopener\">event\u2019s official website<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Missed Al Mashat\u2019s appearance at the conference yesterday? <\/strong>You can check out Planning, Economic Development, and International Cooperation Minister Rania Al Mashat\u2019s input on <a target=\"_blank\" href=\"https:\/\/live.worldbank.org\/en\/event\/2024\/annual-meetings-agriculture-food-system-growth-job-creation\" style=\"\" rel=\"noopener\">Agri-Food Systems as an Engine of Sustainable Growth and Job Creation<\/a> on the World Bank\u2019s <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=u9xor4_9AVY\" style=\"\" rel=\"noopener\">official YouTube channel<\/a> (runtime: 1:26:22). <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#3- Investment and Foreign Trade Minister Hassan El Khatib begins his visit to the <\/strong><strong>US <\/strong><strong>today<\/strong>, where he\u2019ll be participating in events with the International Monetary Fund, holding meetings with officials from the American Chamber of Commerce and the Egyptian-US Business Council, and engaging with representatives of various investment banks, think-tanks, major US firms, and the Egyptian-American Enterprise Fund, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02iJyHLUfgspchDwEbLk9rBsD2tRtgzjbcLyTxk3gT1WV4yf2nwzVXHoQBybzAwsMjl\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The visit aims to familiarize the American business community with potential <\/strong><strong>investments available in Egypt<\/strong>, as well as the incentives currently being offered by the government to facilitate investments, the statement reads.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s getting colder in Cairo<\/strong>, with the capital in for a high of 27\u00b0C and a low of 17\u00b0C today, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not as cold in Alexandria<\/strong>, with a high of 28\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>And over the weekend, <\/strong>expect to see a high of 28\u00b0C and a low of 17\u00b0C in the capital. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>Chapter Zero Egypt is hosting its annual conference on Sunday, 3 November <\/strong>under the theme The Path to Net Zero, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/2125.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The event will bring together Planning and International Cooperation Minister Rania Al Mashat, Finance Minister Ahmed Kouchouk, FRA boss Mohamed Farid, and a number of experts for a discussion on Climate Risks in Boardrooms. The conference will also see the initiative ink cooperation protocols with the Financial Regulatory Authority and the World Sustainable Hospitality Alliance.<\/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><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 the first time in a long time that business news makes it to most front pages of the <\/strong><strong>foreign press<\/strong>, as earnings season heats up and aircraft maker Boeing faces its toughest time yet with factory workers set to vote on a contract that could end a five-week strike. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Boeing reported USD 6 bn in losses that its new CEO Kelly Ortberg chalked up to \u201cserious performance lapses\u201d<\/strong> and an erosion of investor confidence, as factory workers vote on new wage terms that could end their ongoing strike. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/boeing-braces-union-vote-wage-deal-that-could-end-costly-strike-2024-10-23\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f3eebcfc-f0af-4d43-8305-04c54f199ef7\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/airlines\/boeing-ba-3q-earnings-report-2024-f27acebb?mod=hp_lead_pos6\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Tesla\u2019s earnings are also getting a lot of ink<\/strong>, with the EV maker reporting a higher than expected bottom line and profitability for its cybertruck, marking a turnaround after a few disappointing quarters. The EV maker now expects 20% growth in vehicle sales next year. Its shares jumped 12% in extended trading on the news. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b49d53e4-631a-402f-9dc1-d22f708f97fe\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/10\/23\/tesla-tsla-q3-2024-earnings-report.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/10\/23\/business\/tesla-earnings\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Apple is gearing up to launch its updated Macbook Air with the M4 chip, and its low-end iPad and revamped iPhone SE<\/strong>, in early 2025, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-23\/apple-makes-headway-on-m4-macbook-air-and-plans-new-low-end-ipad?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>ALSO GETTING ATTENTION- The US elections are still looking as tight as ever<\/strong> with the two candidates statistically tied among likely voters in the seven swing states in the <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/features\/2024-10-23\/new-poll-has-trump-harris-tied-in-key-states-just-12-days-to-election?srnd=homepage-middle-east&amp;leadSource=uverify%20wall\" style=\"\" rel=\"noopener\">Bloomberg News\/Morning Consult poll<\/a>, leaving it up to the final weeks of rallies and campaigns to decide who will come out on top. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Israel continued to strike Beirut\u2019s southern suburbs yesterday<\/strong>, as Hezbollah said it fired precision guided missiles at Israeli targets for the first time. One strike hit the office of Al-Mayadeen, killing at least one person and wounding five others. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-intensifies-offensive-gaza-lebanon-after-hamas-leaders-death-2024-10-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653900 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"653900\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/653900\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653900\" class=\"content-area-description single-story post-653900 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1544.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Somabay<\/span><span style=\"\">, every reason to fall in love.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653901\" 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=\"653901\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/madbouly-gives-the-latest-news-on-egypts-program-with-the-imf\/\">\r\n                            Madbouly gives the latest news on Egypt\u2019s program with the IMF                        <\/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\/24\/madbouly-gives-the-latest-news-on-egypts-program-with-the-imf\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                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wp-post-image\" alt=\"\" data-attachment-id=\"653902\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/madbouly-gives-the-latest-news-on-egypts-program-with-the-imf\/2111-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2111.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2111.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2111.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2111.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653901\" class=\"content-area-description single-story post-653901 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-imf tag-moustafa-madbouly 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\/.edd038f9-ce74-45d6-862a-50b6a1889d5e.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Madbouly\u2019s latest presser centered around Egypt\u2019s IMF loan program:<\/strong> Prime Minister Moustafa Madbouly\u2019s <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02F5Mb1rYP6iLUGNaKeQi64vLLgb4u9gJL8F6GDBizqboEQNAfVdvNGXX23yEoLKddl\" style=\"\" rel=\"noopener\">weekly presser<\/a> provided fresh details on the possible review of Egypt\u2019s loan program with the International Monetary Fund, building on comments made by President Abdel Fattah El Sisi earlier this week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The reform timeline is being reviewed: <\/strong>Madbouly confirmed that the government is currently reviewing the timeline and reforms put forward by the Fund, pointing to the direct impact that the war on Gaza and the subsequent decline in Suez Canal revenues has had on state revenues as justification for the review.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> Earlier this week El Sisi made headlines after stating that Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/88de165a-280d-4372-8524-5f1e95099193\/egypt-may-reevaluate-imf-loan-agreement-as-reform-program-amps-up-the-pressure\" style=\"\" rel=\"noopener\">might reevaluate its agreement with the IMF<\/a> in light of economic pressures the nation is enduring as the country carries out reforms as part of the loan agreement. The government soon thereafter reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d93dacd9-fc69-467d-a702-7a5eab4254a2\/gov%25e2%2580%2599t-wants-more-time-to-implement-the-imf%25e2%2580%2599s-reforms\" style=\"\" rel=\"noopener\">asked the IMF for an extension<\/a> on the timeline for the reforms\u2019 implementation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fourth review is set to take place soon: <\/strong>The IMF will conduct its fourth review of our USD 8 bn loan program after its annual meetings wrap up on Saturday, Madbouly said, without providing a more specific date. The review will allow for adjustments that are in line with Egypt\u2019s interests, especially regarding economic growth targets and minimizing the impact of reform on citizens, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> A government source <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/95bb1ee0-a38a-4b9e-93a8-2fb2ebd18a8d\/will-our%253cmark%253e-fourth%253c%2Fmark%253e-loan%253cmark%253e-review%253c%2Fmark%253e-with-the-imf-be-pushed-back-again%3F\" style=\"\" rel=\"noopener\">told EnterpriseAM<\/a> earlier this month that the Fund is likely to conduct the fourth review of our program in November, with the source saying that the government wanted to delay the review in order to finalize investment agreements and incentives so that they could be taken into account for the review. The review will unlock USD 1.3 bn in funds \u2014 the biggest of the four tranches to date.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Fund thinks we\u2019re on the right track:<\/strong> Madbouly emphasized that the IMF has praised Egypt\u2019s monetary policy in recent statements, saying that this shows that it sees Egypt as being on the right path.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"653904\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">EXPANSION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/libya-is-setting-up-an-industrial-zone-to-leverage-egyptian-raw-materials-and-more-from-the-libyan-egyptian-industrial-and-trade-forum\/\">\r\n                            Libya is setting up an industrial zone to leverage Egyptian raw materials and more from the Libyan-Egyptian Industrial and Trade Forum                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div 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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/libya-is-setting-up-an-industrial-zone-to-leverage-egyptian-raw-materials-and-more-from-the-libyan-egyptian-industrial-and-trade-forum\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2139.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653905\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/libya-is-setting-up-an-industrial-zone-to-leverage-egyptian-raw-materials-and-more-from-the-libyan-egyptian-industrial-and-trade-forum\/2139-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2139.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2139.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2139.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2139.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653904\" class=\"content-area-description single-story post-653904 post type-post status-publish format-standard has-post-thumbnail hentry category-expansion tag-enterpriseam tag-expansion tag-investment-watch tag-libya 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\/.730dd962-4b75-489d-a42d-74902e86cb2b.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Strengthening Egyptian-Libyan trade relations: <\/strong>Last week, Benghazi hosted a delegation from the Federation of Egyptian Industries (FEI) and tens of Egyptian companies \u2014 including the federation\u2019s Mohamed El Bahy \u2014 who were in town for the Libyan-Egyptian Industrial and Trade Forum. EnterpriseAM spoke to El Bahy to find out what went down during the forum and learn more about the future of Egyptian-Libyan trade. <\/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>About the forum: <\/strong>Hosted by the Benghazi Chamber of Commerce, Industry and Agriculture, Emaar Libya Holding, and the Engineering Export Council of Egypt, the forum \u201cwas a success,\u201d according to El Bahy. It brought together over 43 local companies and representatives from a large number of Libyan entities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The two sides agreed to: <\/strong>Set up a comprehensive industrial complex leveraging Egyptian raw materials to serve as a trade corridor to Algeria, Tunisia, and other African markets; Set up permanent \u201cMade in Egypt\u201d exhibitions in Tripoli and Benghazi; and to look into potential Egyptian investments in Libya\u2019s tourism sector \u2014 Libya is setting up a tourism project on its coastline.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An attractive market for investments:<\/strong> El Bahy pointed out that Libya offers an investment-friendly environment, on top of its extremely cheap energy prices, making it an attractive investment destination for energy-intensive industries like iron, cement, and ceramics.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The forum saw the two sides ink agreements across multiple sectors, most <\/strong><strong>notably the pharma sector<\/strong>, El Bahy said, without providing more details. Fifty of Egypt\u2019s pharma producers are qualified to export drugs to the Libyan market, he said, adding that the Libyan market is interested in importing Egyptian meds in efforts to clamp down on the informal meds market. A specialized Libyan firm will handle the local distribution and marketing of these drugs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Libyan-Egyptian agreements in focus:<\/strong> El Bahy highlighted a series of key agreements that were signed during the visit:<\/p>\n<ul>\n<li><strong>Two industrial complexes:<\/strong> Omar Abdel Aziz, Head of the FEI\u2019s Foundries Division is setting up an industrial complex in Tripoli with <a target=\"_blank\" href=\"https:\/\/www.dnb.com\/business-directory\/company-profiles.el_wazan_for_steel__metal.6be7c6881109b8595cf4218a1b360843.html\" style=\"\" rel=\"noopener\">Wazan for Steel and Metal Company<\/a>, as well as another complex in Benghazi.<\/li>\n<li><strong>An industrial ice factory in Misrata:<\/strong> Chamber of Engineering Industries\u2019 Mostafa Al Ashry inked agreements to set up an industrial ice factory in Misrata and to supply air conditioners and equipment.<\/li>\n<li><strong>Egyptian software developer Cloud Soft signed three agreements<\/strong> focused on IT systems and offering training services in business training centers in Tripoli and Benghazi, and training services to students at Tripoli\u2019s Alassema University.<\/li>\n<li><strong>A supply chain agreement:<\/strong> The Chamber of Woodworking and Furniture Industries inked an agreement to supply major factories in Libya. <\/li>\n<li><strong>Local steel maker Kandil Steel inked an agreement<\/strong> with a Benghazi-based company for the pricing of electrical panels and is undergoing discussions over a lighting poles and metal scaffolding project. A number of Libyan companies agreed to visit Kandil Steel\u2019s factory next month. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s all about the expertise: <\/strong>El Bahy told us that the Libyan side has no shortage of funds, but what it needs is Egyptian expertise.The two sides inked an agreement to mitigate payment risks, including fund transfers for exports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investment protection:<\/strong> Federation of Egyptian Industries\u2019 real estate division head Osama Saad El Din told EnterpriseAM that the two sides agreed to operate in Libya using resources from the Reconstruction Fund, reducing risks for Egyptian companies and eliminating the need for local bank guarantees. There is also a proposal to issue Egyptian workers ins. cards to ensure their protection during their time in Libya.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>To sweeten the pot: <\/strong>Officials are looking into inking an agreement to protect investments between the two countries just like that <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7bbe0aae-ba3a-4ca8-a09e-ba17d1cfce14\/%253cmark%253e%253c%2Fmark%253emohammed%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ebin%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253esalman%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253espent%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ethe%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eday%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ein%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ecairo%253cmark%253e%253c%2Fmark%253e,%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253etalking%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253etrade%253cmark%253e%253c%2Fmark%253e,%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253einvestment%253cmark%253e%253c%2Fmark%253e,%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253ediplomacy%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ewith%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eel%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253esisi%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">Agreement on Promotion and Mutual Protection of Investments<\/a> inked between Egypt and Saudi Arabia earlier this month, Saad El Din 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\/expansion\/\">expansion<\/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\/libya\/\">Libya<\/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=\"653906\" 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=\"653906\">\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\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/private-investors-to-manage-five-major-egyptian-airports-in-the-first-phase-of-privatization-plans\/\">\r\n                            Private investors to manage five major Egyptian airports in the first phase of privatization plans                        <\/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\/24\/private-investors-to-manage-five-major-egyptian-airports-in-the-first-phase-of-privatization-plans\/\" 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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plans&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/private-investors-to-manage-five-major-egyptian-airports-in-the-first-phase-of-privatization-plans\/\">\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\/24\/private-investors-to-manage-five-major-egyptian-airports-in-the-first-phase-of-privatization-plans\/&title=Private investors to manage five major Egyptian airports in the first phase of privatization plans\">\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=Private+investors+to+manage+five+major+Egyptian+airports+in+the+first+phase+of+privatization+plans+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F24%2Fprivate-investors-to-manage-five-major-egyptian-airports-in-the-first-phase-of-privatization-plans%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\/24\/private-investors-to-manage-five-major-egyptian-airports-in-the-first-phase-of-privatization-plans\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2109.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653907\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/private-investors-to-manage-five-major-egyptian-airports-in-the-first-phase-of-privatization-plans\/2109-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2109.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2109.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2109.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2109.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653906\" class=\"content-area-description single-story post-653906 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch tag-aviation tag-enterpriseam tag-infrastructure tag-privatization-watch tag-state-privatization-program 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\/.ec92bddd-4f9a-4e82-a4d9-efcb539b22fb.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Five major airports slated for first phase of private sector offerings:<\/strong> The first phase of the government\u2019s plan to bring private investors to develop, manage, and operate Egyptian airports will offer up five airports, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/10\/23\/%D9%85%D8%B5%D8%A7%D8%AF%D8%B1-4-%D9%85%D8%B7%D8%A7%D8%B1%D8%A7%D8%AA-%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AC%D8%A7%D9%87%D8%B2%D8%A9-%D9%84%D9%84%D8%B7%D8%B1%D8%AD-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%AE%D8%A7%D8%B5-\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reported, citing unnamed sources it says are close to the matter. The sources named the airports as Cairo International Airport, Sphinx International Airport, El Alamein International Airport, Sharm El Sheikh International Airport, and Hurghada International Airport.<\/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>Luxor, Aswan airports to follow in later phases:<\/strong> The Madbouly government also plans to hand over management of Luxor and Aswan airports to private sector operators in subsequent phases, with plans to develop Aswan International Airport into a hub for sub-Saharan African flights, one of the sources said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Private sector to run operations, not own assets:<\/strong> The sources reiterated Civil Aviation Minister <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48bca33e-8ea3-4ae0-b47e-228e52792cc8\/\" style=\"\" rel=\"noopener\">Sameh Elhefny\u2019s remarks<\/a> that the airports are not for sale and remain under the sovereignty of the Egyptian state. Instead, the offering involves the management and operation of the commercial activities within the airports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The offerings could lead to more Egypt-bound flights:<\/strong> Having international operators run Egyptian airports could encourage major carriers to launch direct flights to Egypt from the US, Europe, and East Asia, one source told the outlet. Currently, US flights to Egypt often stop over in Europe or Turkey, while East Asian carriers only operate indirect routes to the country. The move is expected to boost both tourism from new markets and air cargo volumes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The timeline:<\/strong> Unnamed sources told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/10\/22\/1836578\" style=\"\" rel=\"noopener\">Al Borsa<\/a> that it will take an average of 16 months to weigh between the technical and financial offers submitted by private investors to develop, manage, and operate the airports on the government\u2019s privatization checklist.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Private players are already lining up:<\/strong> Elhefny said last week that <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce82e62f-3bbc-44a4-9b99-003d6f758bb2\/\" style=\"\" rel=\"noopener\">six international companies had shown interest<\/a> in managing and operating our airports. Elhefny met with a delegation from Greek infrastructure investment company Copelouzos Group <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1a1c99b9-3761-42fc-985c-92bfa6efc431\/\" style=\"\" rel=\"noopener\">last week<\/a> to discuss potential joint projects to develop, manage, and operate airports in the country.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Is this the big news we were told to lo<\/strong><strong>ok out for?<\/strong> We\u2019ve been on the lookout for airport privatization news since Prime Minister Moustafa Madbouly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d5e54f1d-dc98-4fe2-ac8a-af684b381301\/madbouly-promises-important-privatization-news-soon\" style=\"\" rel=\"noopener\">said earlier this month<\/a> that some \u201cimportant\u201d updates regarding our plans to privatize airports and banks would be announced soon. The Madbouly government first revealed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/39dc4a75-8ed5-46ed-a296-30a40cf2f166\" style=\"\" rel=\"noopener\">in November 2023<\/a> that it planned to invite private sector players \u2014 including foreign companies \u2014 to take over the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e94bb97-4820-4349-bc3a-d65afa8cdcb1\/egypt-looks-towards-airport-expansion,-smart-policy,-and-the-private-sector-to-support-its-ambitious-aviation-goals\" style=\"\" rel=\"noopener\">management of airports<\/a> in the country.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- A new airport in the works? <\/strong>One of Al Arabiya\u2019s sources said that the government is mulling over plans to build a new airport to serve the new capital, while positioning Sphinx International Airport \u2014 which is close to the Giza Pyramids and the soon-to-officially-open <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b9c7531a-ef25-458f-a401-4011ec309d31\/a-guide-through-time\" style=\"\" rel=\"noopener\">Grand Egyptian Museum<\/a> \u2014 to cater to low-cost and charter flights. The proposed airport would be the second serving the new capital in addition to the already existing Capital International Airport.<\/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\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/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=\"653908\" 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=\"653908\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/drilling-operations-in-zohr-to-resume-in-december\/\">\r\n                            Drilling operations in Egypt\u2019s Zohr to resume in December                        <\/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\/24\/drilling-operations-in-zohr-to-resume-in-december\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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This should help restore some of the field\u2019s production, which has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/97c6012f-bce9-4cd3-a3da-a6e9fd62038e\/%253cmark%253eeni%253c%2Fmark%253e-to-drill-two-new-wells-in-zohr-in-2025\" style=\"\" rel=\"noopener\">declined from a peak<\/a> of 2.76 bn cubic feet per day in 3Q 2021 to below 2 bn cf\/d in 1H 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our production capacity rose over the last quarter:<\/strong> Egypt\u2019s production capacity rose by 30k barrels of oil per day and 133 mn cf\/d of natural gas during the first quarter of FY 2024-25, Badawi said. Overall production currently stands at 1.4 mn barrels of oil equivalent per day, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Oil players have been ramping up their activity in Egypt after the government started <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a32982d2-a780-4740-9669-17aced583182\/gov%25e2%2580%2599t-clears-usd-1.3-bn-oil-and-gas-arrears\" style=\"\" rel=\"noopener\">clearing its arrears<\/a> to foreign oil and gas companies operating in the country and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b79bcd3f-c14a-41e5-9ab7-50aa37b78975\/sweetening-the-pot-for-oil-and-gas-companies\" style=\"\" rel=\"noopener\">recently-introduced incentive package<\/a> for oil and gas players helped sweeten the pot even further.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The plans to clear all arrears: <\/strong>The Madbouly government will be making monthly payments to foreign oil and gas companies with local operation in efforts to lower the arrears owed, Badawi said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT- <\/strong>The country\u2019s natural gas production fell 20-25% over the past two years, the minister said. And the gap between the cost of petroleum products and their local selling price is somewhere between 11-21%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">BP AND APACHE ALSO HAVE PLANS IN THE PIPELINE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US oil producer Apache has been awarded four exploration blocks in the Western Desert<\/strong>, Badawi continued. An agreement was reached between the two sides on the incentive package and the pricing of the gas produced, with production expected to gradually increase to reach 80 mn cf\/d by the end of 2025, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> Earlier this week we heard that Apache <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.-plus:-news-from%253cmark%253e-apache%253c%2Fmark%253e,-atlas,-raya-distribution,-air-arabia\" style=\"\" rel=\"noopener\">plans to increase<\/a> its daily natural gas production in Egypt 11% to 500 mn cf during the current fiscal year. Apache had planned to invest <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a423c134-0e3b-40af-9bc1-7ab40b8dd0d4\" style=\"\" rel=\"noopener\">USD 1.4 bn on exploration and production in Egypt in 2024<\/a> as part of a wider plan to spend USD 3.5 bn here by 2027.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- BP to bring the second well of its Raven project online soon:<\/strong> Global energy giant BP will be expediting the drilling of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac665409-aa60-44ba-83ae-d2d40e48071f\/bp-to-invest-usd-400-mn-in-two-new-wells.-plus:-agiba,-pickalbatros,-juba,-alexandria-port-authority,-el-araby-group,-carbon-credits\" style=\"\" rel=\"noopener\">second well<\/a> at the Raven natural gas field, Badawi said, adding that the additional production capacity is set to come online by January 2025. He also noted that drilling at BP\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0cac749b-5323-4523-afd4-ba3bf8f3ba46\" style=\"\" rel=\"noopener\">King Mariout Offshore concession<\/a> is set to begin at the start of 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Last month we heard that BP was planning to invest some USD 400 mn during FY 2024-25 to drill two new wells at the Raven natural gas field, with the additional drilling set to add 400 mn cf\/d of natural gas to the field\u2019s total production.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>UK oil and gas giant Shell started production from its well in the West Delta Deep Marine earlier this month, producing 30-40 mn cf\/d. The company is investing some USD 227 mn to start producing from two other wells in the field by the end of the year, bringing its total production to 160 mn cf\/d. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And more to come: <\/strong>International companies, including Chevron and Exxon Mobil, will up their exploration activity in the west Mediterranean in the coming two months. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">FOUR MOUS FOR OIL & GAS EXPLORATION SIGNED-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EGPC signs 4 MoUs with a number of firms for energy exploration:<\/strong> State-owned Egyptian General Petroleum Corporation (EGPC) signed four separate MoUs with Elsewedy Industrial Development, Ezz Steel, Ades Holding, and a consortium of Hassan Allam Holding and Infinity Power aimed at ramping up oil and natural gas exploration alongside production and field development, according to a separate cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02hGFRdKko2RLCuotHDTC5emDcphppYUFAf4TqJvBtoLEdzc638XTmEBNPyr1RzSJhl\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The gov\u2019t wants to further develop certain mature fields: <\/strong>The MoUs aim to encourage exploration in general but emphasize the mature fields in the Gulf of Suez and the Eastern and Western Deserts, Badawi said during the presser. <\/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\/bp\/\">BP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eni\/\">Eni<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/zohr-field\/\">Zohr Field<\/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=\"653910\" 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=\"653910\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/united-bank-to-temporarily-list-1-1-bn-shares-on-the-egx-starting-today\/\">\r\n                            United Bank to temporarily list 1.1 bn shares on the EGX starting today                        <\/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\/24\/united-bank-to-temporarily-list-1-1-bn-shares-on-the-egx-starting-today\/\" 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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Shares will be listed on the bourse starting today, after which the company will have six months to meet listing requirements and obtain regulatory approvals ahead of its planned IPO set to take place before the end of 1Q 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The Central Bank of Egypt-owned bank will list 1.1 bn shares with a nominal value of EGP 5 per share \u2014 bringing its total issued capital to EGP 5.5 bn. While the size of the stake in proportional terms was not disclosed, we\u2019ve been expecting the CBE to offer anywhere between 30% and up <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a78c923-5790-48d1-b5a6-ab1de406caa1\/alexandria-for-industrial-development-to-build-usd-120-mn-worth-of-turnkey-factories-for-foreign-companies.-plus:%253cmark%253e-united-bank%253c%2Fmark%253e,-fawry,-raya-cx,-easwaaq-%2B-post-for-investment,-trellix\" style=\"\" rel=\"noopener\">to 49% of the lender<\/a>. Trading will take place under the ticker UBEE.CA. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s only been a month since United Bank announced its IPO plans: <\/strong>Although the Central Bank of Egypt \u2014 which owns 99.9% of the United Bank \u2014 first announced its intention to sell the bank in 2017, it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/40b1d4bd-9030-4e7f-8543-b52679d46ab5\/egypt%E2%80%99s-central-bank-to-offer-a-portion-of-its-stake-in-united-bank-on-the-egx\" style=\"\" rel=\"noopener\">announced only last month<\/a> that it would offer a stake of United Bank\u2019s shares on the bourse. Shortly following this, the lender\u2019s CEO Ashraf El Kady announced that the IPO will be <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a78c923-5790-48d1-b5a6-ab1de406caa1\/alexandria-for-industrial-development-to-build-usd-120-mn-worth-of-turnkey-factories-for-foreign-companies.-plus:%253cmark%253e-united-bank%253c%2Fmark%253e,-fawry,-raya-cx,-easwaaq-%2B-post-for-investment,-trellix\" style=\"\" rel=\"noopener\">promoted to investors<\/a> across the Gulf, Europe, and the US.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This might be what Madbouly was hinting at last week: <\/strong>Prime Minister Moustafa Madbouly last week said that the government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d5e54f1d-dc98-4fe2-ac8a-af684b381301\/madbouly-promises-%253cmark%253eimportant%253c%2Fmark%253e-privatization-news-soon\" style=\"\" rel=\"noopener\">will soon announce<\/a> \u201cimportant news\u201d regarding the privatization of banks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egypts-united-bank-list-cairo-stock-exchange-oct-24-2024-10-23\/\" style=\"\" rel=\"noopener\">Reuters<\/a><\/strong> <strong> took note of the news. <\/strong><\/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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/united-bank\/\">United Bank<\/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=\"653912\" 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=\"653912\">\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\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/a-new-investment-zone-a-new-industrial-zone-and-more-approved-by-the-cabinet\/\">\r\n                            A new investment zone, a new industrial zone and more approved by Egypt\u2019s cabinet                        <\/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\/24\/a-new-investment-zone-a-new-industrial-zone-and-more-approved-by-the-cabinet\/\" target=\"_blank\">\n                    Open in new 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class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2103.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653913\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/a-new-investment-zone-a-new-industrial-zone-and-more-approved-by-the-cabinet\/2103-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2103.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2103.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2103.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2103.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653912\" class=\"content-area-description single-story post-653912 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-cabinet-watch tag-enterpriseam tag-healthcare tag-infrastructure tag-investment-watch tag-universal-health-insurance 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\/.b0ac8056-ccb5-4817-91e4-db343ef08937.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Madbouly cabinet approved several key decisions during its weekly meeting <\/strong>yesterday, including new regulations for medical centers and the establishment of an investment zone, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0ftrZESbuNR8RoFCb8F8gvVCJ1DAXVTPXLZCXuVPVihrQ1LcJKNjzqDdT6GfbQtwZl\" style=\"\" rel=\"noopener\">cabinet 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>#1- New investment zone for industrial development in Abu Rawash:<\/strong> Cabinet approved the establishment of a new integrated investment zone in Abu Rawash for joint-stock company Al Ahly Industrial Development. The zone will span around 2 mn sqm and is designed to host a fully integrated industrial zone, with a focus on SMEs. The area will feature logistics, service, and commercial activities, as well as food security projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- A freezone in Port Said also got the preliminary green light: <\/strong>The cabinet approved a draft decision to turn a 10k sqm area in an industrial zone south of the city of Port Said into a private freezone to produce citrus concentrates and export 100% of production. The project will be set up with a USD 10 mn investment and create 300 jobs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- New law to regulate specialized medical centers:<\/strong> The cabinet gave its approval to a draft law governing specialized medical centers established or transferred under the Secretariat of Specialized Medical Centers at the Health Ministry and any centers set up after the regulations are implemented. This draft law will work alongside the universal health ins. law to ensure these centers provide high-quality specialized medical care while reducing pressure on the state budget by raising service efficiency.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How?<\/strong> The law will allow setting up new centers only by a decree from the Prime Minister Moustafa Madbouly, based on the health minister\u2019s recommendation. Each center will be managed by a committee led by the center\u2019s director, with regulations and management systems set by the health minister.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Digital boost for healthcare services:<\/strong> Ministers also approved a two-year contract between the Universal Health Ins. Authority and eHealth \u2014 a subsidiary of EGX-listed fintech giant e-Finance \u2014 to manage and operate digital services for Egypt\u2019s universal health ins. system. This partnership is intended to accelerate the nationwide rollout of the digital healthcare system and ensure its sustainability. The move aims to enhance the efficiency and effectiveness of health services across the country, supporting the digitization of key healthcare projects.<\/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\/cabinet-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/universal-health-insurance\/\">universal health insurance<\/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=\"653914\" 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=\"653914\">\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\">A MESSAGE FROM AUC SCHOOL OF BUSINESS EXECUTIVE EDUCATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/igniting-leadership-potential-un-women-scholarships-at-auc-school-of-business\/\">\r\n                            Igniting leadership potential: UN Women scholarships at AUC School of Business                        <\/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\/24\/igniting-leadership-potential-un-women-scholarships-at-auc-school-of-business\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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As part of this collaboration, women executives were able to enroll in a diverse array of ExecEd programs ranging from leadership and management to human resources and had access to a 50% scholarship.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Executive<\/strong><strong> education <\/strong><strong>programs at AUC School of Business are tailored to prepare<\/strong><strong> professionals for today's dynamic business environment. <\/strong>This focused scholarship initiative is set to boost female leadership spanning diverse fields. Showcased by the inspiring success stories of UN Women Scholarship recipients, this initiative equips women with the vital skills needed to drive organizational transformation and excel at the highest levels.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Amany Nabil Mohamed Aly Arafa's <\/strong><strong>journey<\/strong><strong>:<\/strong> \"Starting out in the oil and gas industry to becoming the executive chairwoman of Delta Building Systems, my career has seen profound transformation by the Corporate Directors Certification Program. The UN Women scholarship has enabled me to pioneer sustainable practices and expand our market reach.\"<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nagham Aly's advancements:<\/strong> \"The insights from the Organizational Culture: Diversity &amp; Inclusion Certificate have been instrumental. As HR director at Raya Information Technology, I have been able to foster a more inclusive work environment and drive strategic changes, demonstrating the power of dedicated educational programs in advancing women in leadership.\"<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Manal Saleh's <\/strong><strong>innovations<\/strong><strong>:<\/strong> \"Implementing what I learned in the Finance for Non-Finance Program, I transformed my charitable organization into a thriving women-led business model. This education has been key to empowering us to lead socially responsible enterprises.\"<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So far, the collaboration between ExecEd and UN Women has empowered over 484 <\/strong><strong>women through scholarships<\/strong>, highlighting the societal benefits of promoting women in leadership roles. Research consistently demonstrates that women leaders are key advocates for sustainable practices and environmental stewardship.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By providing women with essential leadership skills and knowledge<\/strong>, the AUC School of Business is not only advocating for gender equality but also investing in a sustainable and peaceful future. The success stories of Amany, Nagham, and Manal illustrate the ripple effects of empowering women through education, showing how leadership training can break barriers and foster innovation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>To wrap things up, the continued support and expansion of our educational offerings for<\/strong><strong> women underscore the importance of our mission <\/strong>to reduce financial barriers, equipping women with the tools for success. As we create a chorus of empowered women leaders, it is set to foster a more harmonious and inclusive future across several industries and communities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a target=\"_blank\" href=\"https:\/\/business.aucegypt.edu\/execed\/funding-your-executive-education\" style=\"\" rel=\"noopener\">Learn more about our&nbsp;<\/a><a href=\"https:\/\/business.aucegypt.edu\/execed\/individual-programs\" target=\"_blank\" rel=\"noopener\">programs at AUC School of Business Executive Education.<\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/auc\/\">AUC<\/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=\"653916\" 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=\"653916\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/knight-frank-taps-omar-hazem-to-lead-its-egypt-occupier-and-landlord-strategy\/\">\r\n                            Knight Frank taps Omar Hazem to lead its Egypt occupier and landlord strategy                        <\/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\/24\/knight-frank-taps-omar-hazem-to-lead-its-egypt-occupier-and-landlord-strategy\/\" 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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Hazem joins Knight Frank after having spent over nine years with JLL in Egypt \u2014 most recently as its head of office and business space.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Knight Frank is the new kid on the block when it comes to the local real estate <\/strong><strong>consultancy: <\/strong>Knight Frank stepped foot into the Egyptian market in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52c358c0-b8f4-45e1-8c8f-5c4fcc620a75\/adel,-elfiky-join-multinational-real-estate-consultancy%253cmark%253e-knight%253c%2Fmark%253e%253cmark%253e-frank%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">August of last year<\/a> when it opened its first office in the county. The UK-headquartered company has 740 offices over 50 territories and employs more than 27k people.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Delta Sugar names new chairman:<\/strong> Delta Sugar has appointed Ahmed Shireen Korayem (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ahmed-shireen-korayem-8798b115\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as its new chairman, replacing Ahmed Abdel Hafez following his <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f89ff1ce-856b-49e3-87e0-ddb9bdb9662c\/%253cmark%253edelta-sugar%253c%2Fmark%253e%25e2%2580%2599s-ahmed-abdel-hafez-resigns\" style=\"\" rel=\"noopener\">resignation<\/a>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/2104.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. Korayem currently serves as the head of the cement division of the Federation of Egyptian Industries. The company also appointed Sami Abdel Mottaleb as the executive managing director.<\/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\/delta-sugar\/\">Delta Sugar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/knight-frank\/\">Knight Frank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"653918 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=\"653918\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/653918\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653918\" class=\"content-area-description single-story post-653918 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=\"653919\" 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=\"653919\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/dog-filmed-atop-the-pyramid-of-khafre-goes-viral\/\">\r\n                            Dog filmed atop the pyramid of Khafre goes viral                        <\/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\/24\/dog-filmed-atop-the-pyramid-of-khafre-goes-viral\/\" 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\/24\/dog-filmed-atop-the-pyramid-of-khafre-goes-viral\/')\">\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\/24\/dog-filmed-atop-the-pyramid-of-khafre-goes-viral\/\">\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=Dog filmed atop the pyramid of Khafre goes viral&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/dog-filmed-atop-the-pyramid-of-khafre-goes-viral\/\">\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\/24\/dog-filmed-atop-the-pyramid-of-khafre-goes-viral\/&title=Dog filmed atop the pyramid of Khafre goes viral\">\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=Dog+filmed+atop+the+pyramid+of+Khafre+goes+viral+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F24%2Fdog-filmed-atop-the-pyramid-of-khafre-goes-viral%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\/24\/dog-filmed-atop-the-pyramid-of-khafre-goes-viral\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2120.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653920\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/dog-filmed-atop-the-pyramid-of-khafre-goes-viral\/2120-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2120.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2120.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2120.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2120.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653919\" class=\"content-area-description single-story post-653919 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-enterpriseam tag-giza-pyramids 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\/.51c6d3d3-910b-406b-a55f-b642cccc57ae.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our canine compatriots got a little slice of the limelight last week:<\/strong> A viral video of an Egyptian dog standing on top of the pyramid of Khafre last week left mns around the world asking \u2014 how did that dog get up there and why? <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The answer:<\/strong> According to co-founder of the American Cairo Animal Rescue Foundation Ibrahim Elbendary, the dog \u2014 named Apollo \u2014 is part of a pack of around eight dogs that lives atop the Khafre pyramid, the <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/climate-environment\/2024\/10\/23\/dog-on-pyramid-egypt-giza\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> reports. While most dogs at the pyramid complex live on the ground, the pack has made the pyramid\u2019s peak its home, Elbendary says.<\/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\/giza-pyramids\/\">Giza Pyramids<\/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=\"653921\" 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=\"653921\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/lg-is-setting-up-a-usd-150-mn-refrigerator-line-in-its-tenth-of-ramadan-factory\/\">\r\n                            LG is setting up a USD 150 mn refrigerator line in its Tenth of Ramadan factory                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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setting up a USD 150 mn refrigerator line in its Tenth of Ramadan factory\">\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=LG+is+setting+up+a+USD+150+mn+refrigerator+line+in+its+Tenth+of+Ramadan+factory+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F24%2Flg-is-setting-up-a-usd-150-mn-refrigerator-line-in-its-tenth-of-ramadan-factory%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\/24\/lg-is-setting-up-a-usd-150-mn-refrigerator-line-in-its-tenth-of-ramadan-factory\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2122.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"653922\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/lg-is-setting-up-a-usd-150-mn-refrigerator-line-in-its-tenth-of-ramadan-factory\/2122-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2122.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2122.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2122.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2122.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653921\" class=\"content-area-description single-story post-653921 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-capital-markets tag-enterpriseam tag-infrastructure tag-lg tag-manufacturing tag-post-for-investment 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\/.c605ddb5-a8d8-4f4d-9dd3-ed7a7b93af6e.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">MANUFACTURING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- <\/strong><strong>LG plans to invest USD 150 mn in refrigerator production line:<\/strong> Korean home appliance giant LG plans to add a new USD 150 mn refrigerator production line to its Tenth of Ramadan factory, which currently houses one washing machine and television production lines, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/2047.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The new production line is in the preparation phase, LG Egypt Managing Director Billy Kim told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/10\/22\/1836432\" style=\"\" rel=\"noopener\">Al Borsa<\/a>, without disclosing its completion date.<\/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><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- A new pump factory may be in the works:<\/strong> Turkish pump manufacturer Turbosan is mulling setting up a factory in Egypt as part of a larger effort to increase its presence in the local market, according to a Housing Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid05CmWSVNB635cZ2tcXhhHSsYifoLzvQDDY2Xga3P1PvSn5RSc7sef2wCYV6JnqkSEl?rdid=Sz36IBMZtZHhHmsX\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Pumps were <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0c63a1e3-9d75-4490-864e-ba087d245a77\/egypt-wants-to-localize-the-manufacture-of-12-products\" style=\"\" rel=\"noopener\">among the 12 products<\/a> selected by the housing and industry ministries to serve as the focus of our localization efforts in the coming period.<\/p><p class=\"tag-border-left\">INFRASTRUCTURE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Government agencies can now grant contractors working on public projects up to a <\/strong><strong>six-month extension on their implementation timelines<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/W2gL9SciVWvvzSbX\/?mibextid=WC7FNe\" style=\"\" rel=\"noopener\">circular issued<\/a> by the cabinet. Contractors must justify their extension requests and will be held legally accountable if they attempt to delay construction or otherwise violate their contracts, the circular said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The backstory: <\/strong>The decision follows <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/efcbc\/posts\/pfbid09k5EP82oPWcizzVoeVJHTPVAym91cs9a5HxUd7vuiJPj7dFc5eot5uYsY95ByW2Cl\" style=\"\" rel=\"noopener\">complaints<\/a> from members of the Egyptian Federation of Construction and Building Contractors (EFCBC) about the withdrawal of work from companies unable to complete their work on schedule, which the Federation chalked up to rising costs rather than firm malfeasance.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Public contractors are facing economic headwinds: <\/strong>Companies working with government entities are bound by strict laws and decisions that have caused severe losses, now increasing further with the recent <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e1e29b9-af1f-412d-9492-354ca6e76353\/\" style=\"\" rel=\"noopener\">fuel price hike<\/a>, EFCBC member Mohamed Abdel Raouf <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/91ee0081-33ed-4399-a050-1621bceceea0\/infrastructure-costs-set-to-rise-as-fuel-prices-increase\" style=\"\" rel=\"noopener\">told EnterpriseAM<\/a> earlier this week.<\/p><p class=\"tag-border-left\"> REGULATION-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tighter<\/strong><strong> rules on land transfers to curb speculation: <\/strong>Industrial land can no longer be sold or transferred without approval from the Industrial Development Authority, with the receiving party now required to pay in full for the land, make an effort to obtain all operational licenses necessary to develop the land, and start operations for no less than three years before engaging in any transaction with respect to the land, according to an authority <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/story.php?story_fbid=861621289487794&amp;id=100069197920132&amp;rdid=dD7YvM6BgOFoV5KK\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The backstory: <\/strong>The move comes amid an ongoing push <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f5e1f6aa-3840-4c8d-9eac-5fa2a4f92340\/gov%25e2%2580%2599t-plans-new-incentives-and-regs-to-boost-local-industry\" style=\"\" rel=\"noopener\">to curb industrial land speculation<\/a> amid concerns that developers have been acquiring land to profit from land price increases rather than to develop it.<\/p><p class=\"tag-border-left\"> LOGISTICS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pargo bri<\/strong><strong>ngs its smart logistics services to Egypt:<\/strong> South Africa-based logistics firm <a target=\"_blank\" href=\"https:\/\/pargo.eg\/\" style=\"\" rel=\"noopener\">Pargo<\/a> has secured some USD 4 mn in funding to fuel its expansion into Egypt, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/2100.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. Pargo has rolled out its collect and return services \u2014 which allow people to collect or return their online orders at their convenience \u2014 across 500 pickup points, including Fawry, Circle-K, and Basata stores. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on Pargo:<\/strong> The logistics company launched its pilot program in Egypt back in 2023, testing its services with 150 pickup points before its official rollout.<\/p><p class=\"tag-border-left\">CAPITAL MARKETS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PFI Asset Manageme<\/strong><strong>nt to manage GIG Ins. funds:<\/strong> PFI Asset Management \u2014 Post for Investment\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b69bd536-d960-4a08-b3e3-3c538e0de887\/hassan-allam-takes-on-saudi-coral-preservation-project--plus:-news-from-petrojet,-post-for-investment,-edita#:~:text=%231%2D%20Egypt%20Post%E2%80%99s%20investment%20arm%20Post%20for%20Investment%20(PFI)\" style=\"\" rel=\"noopener\">newly formed<\/a> asset management company \u2014 will oversee GIG Ins.\u2019s Money Market and Equity Funds, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/2097.pdf\" style=\"\" rel=\"noopener\">s<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/2097.pdf\" style=\"\" rel=\"noopener\">tatement (pdf)<\/a>.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" 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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lg\/\">LG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/post-for-investment\/\">Post for Investment<\/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=\"653923\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"653923\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/ecbs-easing-cycle-is-continuing-but-pace-is-still-uncertain\/\">\r\n                            ECB\u2019s easing cycle is continuing, but pace is still uncertain -Lagarde  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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2136.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2136.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2136.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2136.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653923\" class=\"content-area-description single-story post-653923 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-european-central-bank-ecb tag-eurozone tag-financial-markets tag-planet-finance tag-us-federal-reserve 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 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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\/.cc82be31-4eef-42ba-b638-6fef20b59223.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The European Central Bank (ECB) will continue cutting interest rates but the pace of <\/strong><strong>rate cuts is yet to be determined<\/strong>, ECB President Christine Lagarde told Bloomberg TV on the sidelines of the IMF \/ World Bank meetings in Washington (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=AkPcX0CPVPI\" style=\"\" rel=\"noopener\">watch, runtime: 29:11<\/a>). Despite inflation moving in the right direction, other data including backward and forward-looking figures are also factored into decisions on the pace of monetary easing, Lagarde said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The ECB <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a7edf78e-72f2-46e0-8359-a30346b02ba0\/ecb-trims-interest-rate-for-third-time-amid-cooling-inflation\" style=\"\" rel=\"noopener\">trimmed interest rates<\/a> last week for the third time this year as the central bank looks to curb potential for \u201cdownside surprises\u201d in the eurozone economy. The move was the bank\u2019s first back-to-back rate cut in 13 years, five weeks after a previous rate cut. The ECB\u2019s monetary easing cycle comes amid decelerating inflation across the bloc and what could be the <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-08\/german-economy-may-contract-in-2024-bundesbank-chief-nagel-says\" style=\"\" rel=\"noopener\">second straight year<\/a> of contraction in Germany, the eurozone\u2019s largest economy. Inflation dropped below the eurozone\u2019s 2% target to 1.7% in September, its lowest level in three years.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The inflation outlook may look rosy, but the ECB is keeping a watchful eye:<\/strong> The ECB is confident the eurozone will reach its inflation target \u201con a sustainable basis\u201d by 2025, Lagarde said, but called for attention for certain markers citing possible leeway in energy and services prices \u2014 which she deemed as lower \u201cto where they could be.\u201d <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other central banks are on the same wavelength,<\/strong> with the US Federal Reserve spearheading the global policy-easing cycle and cutting interest rates by half a percentage point in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/587da6dc-6c89-4449-87cf-f24013502d3d\/%253cmark%253efed%253c%2Fmark%253e-kicks-off-easing-cycle-with-a-bang\" style=\"\" rel=\"noopener\">September<\/a>. Meanwhile, a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/1bda26b9-23a1-4e52-b5dd-ce91e10b9cc6\/us-september-jobs-report-beats-analyst-expectations\" style=\"\" rel=\"noopener\">surprisingly upbeat<\/a> US September jobs report has reinforced economists\u2019 hopes that the Fed is on track to pull off a \u201csoft landing.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What the pundits think: <\/strong>Investors are putting their money on quarter-point reductions from the central bank\u2019s next four meetings and deposit rates reaching 2% by mid-2025, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-22\/lagarde-sees-clear-direction-for-ecb-rates-pace-to-be-decided\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. Money markets followed suit, increasing their expectations for rate cuts and loosening bets to a 32 bps cut in December \u2014 up from the previously forecasted 30 bps \u2014 and 58 bps by January \u2014 up from 56 bps. This shift suggests a 28% chance of a half-point rate cut in December, according to the business information service. <\/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>Early trading in Asia-Pacific markets is showing another mixed mornin<\/strong>g, with Japan\u2019s Nikkei clawing its way back from losses earlier in the day to rise 0.4%. The Hang Seng Index and mainland China\u2019s Shanghai Composite are both in the red.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, futures suggest Wall Street could continue to see selling pressure today<\/strong>, as Dow Jones futures remain firmly in the red after the index closed yesterday with its worst performance in over a month. <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\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>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\">30,414<\/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: +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 48.67<\/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 48.81<\/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 48.66<\/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-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\">11,902<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: -0.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,205<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: -3.9%)<\/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>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\">4,465<\/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: +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\">5,797<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9% (YTD: +21.5%)<\/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>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\">8,259<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +6.8%)<\/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>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\">4,923<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +8.9%)<\/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>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 75.26<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2.41<\/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\">+4.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,729<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.1%<\/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 66,603<\/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\">-1.40% (YTD: +57.7%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 was almost flat at yesterday\u2019s close<\/strong> on turnover of EGP 5.8 bn (39.6% above the 90-day average). Regional 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>Orascom Construction (+4.4%), GB Corp (+4.2%), and ADIB (+3.8%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Oriental Weavers (-4.6%), Ezz Steel (-3.4%), and Beltone Holding (-2.6%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/european-central-bank-ecb\/\">European Central Bank (ECB)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eurozone\/\">eurozone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us-federal-reserve\/\">US Federal Reserve<\/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=\"653925\" 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=\"653925\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/sebastien-riez-cluster-president-and-ceo-for-the-northeast-africa-and-levant-region-at-schneider-electric\/\">\r\n                            Sebastien Riez, cluster president and CEO for the Northeast Africa and Levant region at Schneider Electric                        <\/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\/24\/sebastien-riez-cluster-president-and-ceo-for-the-northeast-africa-and-levant-region-at-schneider-electric\/\" 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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Speaking to us this week is Sebastien Riez (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/sebastien-riez-3b6a072\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), cluster president and CEO for the Northeast Africa and Levant region for Schneider Electric. Edited excerpts from our conversation:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links<\/strong> to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My name is Sebastien Riez and I am the cluster president and CEO for Schneider Electric <\/strong><strong>in the Northeast Africa and Levant region.<\/strong> I am a 47-year-old French national, a happy husband to Alexia, and a proud father to two wonderful boys aged 12 and 10 years old, Martin and Jules.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I hold a bachelor's degree in physics as well as two master\u2019s degrees with honors in <\/strong><strong>business administration and marketing. <\/strong>I have close to 20 years of experience within the energy management sector where I have handled several positions \u2014 be it tendering, project management, business development, marketing, and general management.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019ve lived in several countries.<\/strong> I was born and raised in France and I moved to Germany in 2011. There we spent seven years and it was where my two boys were born. We then moved to the UAE, where we stayed for four years before moving to Egypt in early 2022.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I love sports,<\/strong> including basketball, padel tennis, and running. I also enjoy traveling, discovering new cultures, and spending time with family and friends \u2014 especially for a good dinner or listening to my boys playing piano while I work from home<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My day job is mostly about making decisions. <\/strong>This required me to be curious, ask relevant questions to relevant stakeholders, and to carefully listen to the answers so that I can take the most appropriate decision within the interest of the company, its people, and its ecosystem. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As CEO, I\u2019m responsible for overseeing the operations and performance of Schneider <\/strong><strong>Electric for the northeast Africa and Levant cluster<\/strong> that encompasses Egypt, Iraq, Jordan, Lebanon, Syria, Libya, Sudan, and Malta. This includes setting strategic direction, driving growth initiatives, managing profitability, and ensuring operational excellence within the cluster. The role involves leading and supporting teams across different functions to deliver on business objectives.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Schneider Electric has a rich history that dates back to 1836 <\/strong>when the company was founded by two brothers, Eug\u00e8ne and Adolphe Schneider, in Le Creusot, France. Originally, the company focused on the iron and steel industry, and later expanded into the manufacturing of heavy machinery and railway equipment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Schneider Electric evolved and diversified its operations<\/strong> and became a global industrial technology leader in energy management and automation, driving sustainable impact. We are a powerhouse of electrification, automation, and digitization. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Schneider's purpose is to create imp<\/strong><strong>act by empowering everyone<\/strong> to make the most of our energy and resources, encouraging progress and sustainability for all. At Schneider we call this \u201cLife Is On.\u201d Our mission is to be the trusted partner in sustainability and efficiency.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re seeing five megatrends shaping our industry right now. <\/strong>These are climate change, a new global equilibrium, digitalization and artificial intelligence, energy transition, and the evolution of wealth. These trends are expanding the realm of opportunities in our field.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>To deal with inflation and supply chain struggles<\/strong>, we have been focusing on localizing our production as much as possible. We\u2019ve gone up from 55% in 2021 up to 81% today. This has been to optimize our sourcing, shorten our supply chain, and optimize our operational efficiencies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Getting into my morning routine<\/strong>, I like to start my day with a green juice to boost my energy for the day. Whenever possible, I make sure to drop off my kids at school as this is quality time that I really value, especially during the busy workweek.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On my way to the office, I spend time catching up on news and industry reports, <\/strong><strong>including EnterpriseAM<\/strong> to stay informed on the latest market trends both globally and regionally. I usually reach the office early at around 7:45am and take advantage of the quiet time to reflect on strategic topics and work on building the company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meetings, meetings, meetings. <\/strong>That\u2019s what a normal workday looks like for me. It is a balance between day-to-day operations-related meetings and more strategic ones involving a variety of stakeholders. My direct connection with our customers, partners, and team is constant every day. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I try to go through each and every one of our six floors to see the other teams.<\/strong> There\u2019s over 600 employees, so I do love this proximity and I\u2019m always learning new things from it. I always find moments to have regular check-ins with my family, despite the busy schedule.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In terms of organization, I got lucky because I\u2019m organized by nature. <\/strong>That being said I do get great support from many people around me \u2014 starting with my PA. I think it\u2019s all about assessing subjects, defining priorities, delegating what can be delegated, empowering the teams around me, and focusing on what requires the most attention. Practically, it is also about short meetings. I like to keep them at a maximum of 45 minutes with a limited number of applicable stakeholders and a systematic break of 10 minutes in between meetings. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I also need regular physical activity.<\/strong> I exercise at least three times a week to release stress and clear my mind \u2014 I\u2019ve been especially focused on padel for a couple of years now.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a personal level, my goal is to spend more quality time with my family<\/strong>, particularly through shared sports and outdoor activities as my boys are now big enough to join me in many of my activities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Professionally, my goal is to exponentially increase our impact throughout the region I\u2019m <\/strong><strong>in charge of<\/strong>, supporting everyone to make the most of our energy and resources. We are driving an ambitious corporate social responsibility program that has already reached 130k beneficiaries with a target of 225k by 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Achieving work-life balance is a continuous challenge, especially in a demanding<\/strong><strong> leadership role<\/strong> \u2014 but it\u2019s something I prioritize. I do my best to maintain a balance, even though my wife might not entirely agree. It\u2019s all about continuous improvement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For example, Fridays are sacred in our household. <\/strong>We brunch together, we practice sports together, play board games, card games and video games. It\u2019s also an opportunity to reflect on the week, what happened at school, with friends, etc. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019m currently reading a book, which is titled <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/book\/show\/62143477-dancing-with-disruption\" style=\"\" rel=\"noopener\">Dancing with Disruption<\/a><\/strong><strong>.<\/strong> But I usually prefer news over books. I love spending time watching TV series. I recently watched the Last Dance, the Diplomat, Designated Survivor, House of Cards, and Yellowstone.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019ve received great pieces of advice from different mentors that I crossed paths with<\/strong><strong> during my career. <\/strong>Putting my team first, continuing to learn and being curious, thinking of the solution instead of the problem, and selecting my battles. <\/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\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/schneider-electric\/\">Schneider Electric<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sebastien-riez\/\">Sebastien Riez<\/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=\"653927\" 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\/24\/653927\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-653927\" class=\"content-area-description single-story post-653927 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>21-26 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=\"font-weight:400;\">28 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>28-30 November (Thursday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.woodshowglobal.com\/cairo\" style=\"\">Cairo International Wood and Wood Machinery 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>More Egyptian-Libyan trade | Drilling resumes | Refrigerator line | Last day of Brics Summit.<\/p>\n","protected":false},"featured_media":653897,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-653896","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"bd1d1275-2a15-4a4f-bbda-0d9cb7204529","teaser":"More Egyptian-Libyan trade | Drilling resumes | Refrigerator line | Last day of Brics Summit.","photo_url":"https:\/\/ent.news\/2024\/10\/2132.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>Gov\u2019t is reviewing the timeline and reforms put forward by the IMF -Madbouly - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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