{"id":654316,"date":"2024-10-31T00:00:00","date_gmt":"2024-10-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=654316"},"modified":"2025-12-18T00:59:00","modified_gmt":"2025-12-18T00:59:00","slug":"imf-boss-is-coming-to-town-next-week","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-boss-is-coming-to-town-next-week\/","title":{"rendered":"IMF boss is coming to town next week"},"content":{"rendered":"<section id=\"654318\" 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=\"654318\">\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\/31\/imf-boss-is-visiting-next-week-ahead-of-fourth-review\/\">\r\n                            IMF boss is visiting Egypt next week ahead of fourth review                        <\/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\/31\/imf-boss-is-visiting-next-week-ahead-of-fourth-review\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-attachment-id=\"654319\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/31\/imf-boss-is-visiting-next-week-ahead-of-fourth-review\/2814-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2814.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2814.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2814.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2814.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654318\" class=\"content-area-description single-story post-654318 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-imf tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.6b5e3d3f-fe6f-46b9-9c31-f2bba62e25e8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morn<\/strong><strong>ing, <\/strong><strong>all.<\/strong> We bid farewell to October today and prepare to enter the last months of 2024. Today\u2019s issue leaves us with a lot to look forward to in the days and weeks to come, from IMF boss Kristalina Georgieva landing in Egypt next week to promises of custom facilities and a revision to the privatization program. <\/p><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>We\u2019re all getting an extra hour in bed tonight: <\/strong>Daylight saving time comes to an end at midnight tonight so don\u2019t forget to turn back your clocks and enjoy that extra hour of sleep tomorrow morning.<\/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>WEATHER- It\u2019s another cool day in Cairo<\/strong>, with a high of 26\u00b0C and a low of 19\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s equally as cool in Alexandria<\/strong>, with a high of 26\u00b0C and a low of 19\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 25\u00b0C in the capital and a low of 18\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\">HAPPENING NEXT WEEK-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt5\"><\/a> <strong>IMF boss will be in Egypt next week: <\/strong>The IMF\u2019s Managing Director Kristalina Georgieva will be in Egypt next week to discuss our USD 8 bn loan program, Prime Minister Moustafa Madbouly said during his weekly <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02GZxpVgoZrMdpJpHaJdQm2QbDNxSnLfXcvmPVqjFbNJ6J6uwHPpGGCvh2cjh8BnnCl\" style=\"\" rel=\"noopener\">press conference<\/a>. A delegation from the Fund will arrive directly following her visit in preparation for the program\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce01f29c-8a4e-43ba-ac77-91e06d5c9990\/%253cmark%253e%253c%2Fmark%253eimf%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eto%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ebegin%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253efourth%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eloan%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ereview%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eby%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eoctober%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eat%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ethe%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253elatest%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">fourth review<\/a>, Madbouly added.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not about securing more funds, Madbouly said<\/strong> \u2014 rather, the talks are aimed at extending the timeline for implementing measures called for under our loan program with the Fund. The talks will include a review of our commitments and targets, as well as our timeline for achieving them based on citizens\u2019 needs and developments in the region, he added.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Int\u2019l investors think we\u2019re on the right track: <\/strong>Madbouly noted that the Egyptian delegation to last week\u2019s World Bank-IMF annual meetings received a very positive response from foreign investors and international institutions, particularly with regards to the country\u2019s structural reform program and current economic indicators.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> President Abdel Fattah El Sisi earlier this month stated that the country might need to <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\">revisit the IMF agreement<\/a> in light of the economic pressures the country is facing as it undergoes agreed-upon reforms. The IMF has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/86e6a568-f8e0-4a52-9edd-7081c1179ced\/imf-signals-openness-to-changing-loan-terms-amid-regional-conflict-pressures\" style=\"\" rel=\"noopener\">expressed willingness<\/a> to revisit the terms of the agreement, with Georgieva saying last week that the Fund has \u201cbeen very open to adjust the Egyptian program or any other program to what is best to serve people.\u201d<\/p><p class=\"tag-border-left\">WATCH THIS SPACE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- Our privatization program is getting another review:<\/strong> The Madbouly government will be taking another look at its plan to sell off stakes in state-owned companies and assets, Madbouly said, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-30\/egypt-state-asset-sale-program-to-be-reviewed-pm-says?embedded-checkout=true\" style=\"\" rel=\"noopener\">Blo<\/a><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-30\/egypt-state-asset-sale-program-to-be-reviewed-pm-says?embedded-checkout=true\" style=\"\" rel=\"noopener\">ombe<\/a><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-30\/egypt-state-asset-sale-program-to-be-reviewed-pm-says?embedded-checkout=true\" style=\"\" rel=\"noopener\">rg<\/a>. The sectors and sizes of the stakes of offered companies may be re-evaluated, he said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Constant reviews:<\/strong> Madbouly also noted that \u201ccurrent circumstances require us to review it continuously,\u201d rather than once every three years per the policy\u2019s initial guidelines.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Timing is everything: <\/strong>The news comes as the government prepares for the fourth review of our IMF program, slated to take place in the coming weeks. The review is expected to focus on revising the timeline for structural reforms agreed upon \u2014 with privatization among the structural reforms stipulated by the fund. Privatization has previously been a key focus area for the Fund, with the IMF noting in its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b783a33c-54f4-403e-bbb3-d45168e55bab\" style=\"\" rel=\"noopener\">third review of our loan program\u201dm<\/a> that \u201cgreater efforts are needed to implement the State Ownership Policy,\u201d including accelerating the state\u2019s privatization program.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have been sitting tight waiting for privatization news: <\/strong>Earlier this month, <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\">Madbouly<\/a><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\">said<\/a> that the government will soon announce \u201cimportant news\u201d regarding the privatization of a number of banks and airports. The news was quickly followed by the central bank-owned United Bank <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e1e4b2b-23bd-474a-9c2a-1c171f684f38\/united-bank-to-temporarily-list-1.1-bn-shares-on-the-egx-starting-today\" style=\"\" rel=\"noopener\">temporarily listing its shares on the EGX<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8d79ff05-21fa-44eb-9911-9f2eeb114ae7\/%253cmark%253eunited-bank%253c%2Fmark%253e-announces-intention-to-float\" style=\"\" rel=\"noopener\">announcing its intention to float<\/a>. The government is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44a65695-b89d-4d43-8b17-7609a798c7a0\/kouchouk-holds-his-first-presser,-giving-us-a-glance-at-what%25e2%2580%2599s-to-come\" style=\"\" rel=\"noopener\">looking to raise<\/a> USD 2-2.5 bn through the privatization of state-owned companies in FY 2024-2025. <\/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- Another med price hike: <\/strong>The Egyptian Drug Authority gave pharma companies the final greenlight to hike the prices of 3.5k drugs, an official at the authority told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%85%d8%b5%d8%af%d8%b1-%d9%85%d8%b3%d8%a6%d9%88%d9%84-%d8%b6%d8%ae-%d9%83%d9%85%d9%8a%d8%a7%d8%aa-%d8%b6%d8%ae%d9%85%d8%a9-%d9%85%d9%86-%d8%a7%d9%84%d8%a3%d8%af%d9%88%d9%8a%d8%a9-%d9%85%d8%b7%d9%84\/\" style=\"\" rel=\"noopener\">Al<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%85%d8%b5%d8%af%d8%b1-%d9%85%d8%b3%d8%a6%d9%88%d9%84-%d8%b6%d8%ae-%d9%83%d9%85%d9%8a%d8%a7%d8%aa-%d8%b6%d8%ae%d9%85%d8%a9-%d9%85%d9%86-%d8%a7%d9%84%d8%a3%d8%af%d9%88%d9%8a%d8%a9-%d9%85%d8%b7%d9%84\/\" style=\"\" rel=\"noopener\">M<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%85%d8%b5%d8%af%d8%b1-%d9%85%d8%b3%d8%a6%d9%88%d9%84-%d8%b6%d8%ae-%d9%83%d9%85%d9%8a%d8%a7%d8%aa-%d8%b6%d8%ae%d9%85%d8%a9-%d9%85%d9%86-%d8%a7%d9%84%d8%a3%d8%af%d9%88%d9%8a%d8%a9-%d9%85%d8%b7%d9%84\/\" style=\"\" rel=\"noopener\">al<\/a>. Around 1k products have seen their prices rise and the rest will see their prices rise over the coming few days, the source added. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How big of a hike? <\/strong>While the source didn\u2019t disclose the size of the price increase, they explained that it was only half the hike pharma companies were after. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong>Some med prices were hiked an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/862efbea-9bc6-40b6-8d32-1ad9e18c24ae\" style=\"\" rel=\"noopener\">average of 25% in July<\/a>. Pharma players have been calling for the government to green light hiking prices in response to inflationary pressures and the new EGP exchange rate against the greenback following the float in March cranking up the cost of raw materials, which are 90% imported.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#3- PIF to cut international investments: <\/strong>Saudi Arabia\u2019s Public Investment Fund (PIF) plans to cut its overseas investments by about a third as it shifts its focus to diversifying the Kingdom\u2019s domestic economy, PIF Governor Yasir Al Rumayyan <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/financial-technology-leaders-attend-saudi-investment-conference-2024-10-29\/\" style=\"\" rel=\"noopener\">told the Future Investment Initiative forum<\/a>. The fund aims to reduce its international investments from 30% to between 18-20% of its portfolio. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Egypt has long been on PIF\u2019s radar: <\/strong>Saudi Crown Prince Mohammed bin Salman previously directed the fund <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b037f3f4-3f02-46c6-b156-8e255c10923b\" style=\"\" rel=\"noopener\">to pour USD 5 bn into Egypt<\/a> as the \u201cfirst phase\u201d of a larger investment push, with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d9d40ac6-ad14-4fe5-8531-6f5fad7a5693\/this-year%25e2%2580%2599s-enterpriseam-finance-forum-kicks-off-in-just-a-few-hours#:~:text=%231%2D%20Is%20the%20PIF%20after%20a%20stake%20in%20Egypt%20Gas%3F%20Saudi%20Arabia%E2%80%99s%20Public\" style=\"\" rel=\"noopener\">recent unconfirmed reports<\/a> hinting at the fund\u2019s interest in a stake in state-owned Egypt Gas.<\/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>#4- A fully integrated education platform in the making: <\/strong>The Education Ministry is working on an integrated education platform that utilizes AI and features educational content as part of its efforts to wean students off using external sources, Education Minister Mohamed Abdellatif <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02z7nx2X9PR1nru5ZoKLFj1WHTttSTGy7mLFsG8ugFAzBJ2BLbSxddNjHra4pxqJfol\" style=\"\" rel=\"noopener\">said during a presser<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- <\/strong>Artificial intelligence and programming will become a mandatory subject for high school students in public schools starting next academic year to ensure they have basic programming skills when they graduate, the minister added. <\/p><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The Madbouly government will announce amendments to the real estate tax and <\/strong><strong>simplifications to the Customs Law within two weeks<\/strong>, Prime Minister Moustafa Madbouly said during his weekly presser (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=x6L40NcIVN0\" style=\"\" rel=\"noopener\">watch, r<\/a><a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=x6L40NcIVN0\" style=\"\" rel=\"noopener\">untime: 15:42<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a><strong> More details: <\/strong>The government is readying another tax relief package, this time for the real estate sector, Finance Minister Ahmed Kouchouk said when he joined Madbouly\u2019s <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0edoEVD5ggityytrpVjZ8jQgQAa3RqDyXXRxwJckvg5L5noP4sSszeYq1PBaKEkK2l\" style=\"\" rel=\"noopener\">weekly presser<\/a> yesterday. Kouchouk also noted that the government is planning to announce several customs relief measures as part of the state\u2019s <a target=\"_blank\" rel=\"noopener\">broader overhaul<\/a> of the tax system.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- One for the software geeks:<\/strong> <a target=\"_blank\" href=\"https:\/\/jobstack.talentsarena.net\/\" style=\"\" rel=\"noopener\">JobStack<\/a> is holding its Software Industry Summit, a virtual event that will take place between 16-18 November. The event will bring together industry movers and shakers with a focus on \u201cbridging the gap between cutting-edge technologies and top-tier tech talent, startups, and investors from around the MEA region.\u201d Secure your spot at no cost via the link available on the event's <a target=\"_blank\" href=\"https:\/\/www.airmeet.com\/e\/4c27f780-7517-11ef-a2d5-478ed46623b6\" style=\"\" rel=\"noopener\">website<\/a>. <\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For the first time in a while, business news is making it to the top of the foreign pr<\/strong><strong>ess\u2019 front pages<\/strong> as Big Tech continue to report their 3Q earnings \u2014 with Meta and Microsoft both out with their figures for the quarter. Plus: The latest US economy figures are out, and Israel and Lebanon could be approaching a ceasefire. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Concerns among investors that AI investments will not translate into tangible returns anytime soon continue this quarter<\/strong>, with only Google owner <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bdc450d5-b02f-4630-a03b-ec3c97b01c78\/this-morning:-covestro-board-likely-to-give-its-nod-to-adnoc%e2%80%99s-takeover-bid\" style=\"\" rel=\"noopener\">Alphabet<\/a> seeming to prove that the payoff is real so far. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Microsoft\u2019s shares fell in overnight trading after the tech giant forecast constricted growth in its Azure business <\/strong>due to a lack of data center capacity, bringing jitters back to investors who have been waiting for tech firms\u2019 AI investments to pay off. The otherwise upbeat results saw a 16% y-o-y increase in revenues and net income come in higher than expected. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-30\/microsoft-cloud-fuels-stronger-than-expected-revenue-growth?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/771fa4d6-9412-482f-af89-2200800f868e\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/microsoft-msft-q1-earnings-report-2025-62f428f1?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/10\/30\/microsoft-msft-q1-earnings-report-2025.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Meta\u2019s earnings came in slightly lower than expected<\/strong>, pushing shares to decline in after hours trading, on slower-than-expected growth in daily active users. CEO Mark Zuckerberg warned that more AI investments will come as the company continues to prioritize projects like the metaverse and AI-powered glasses. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-30\/meta-sales-narrowly-beat-on-ai-boosting-advertising-revenue?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/facebook-parent-meta-platforms-forecasts-holiday-quarter-revenue-above-estimates-2024-10-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN MACRO NEWS- The US economy grew at a 2.8% clip in 3Q 2024<\/strong>, slightly short of economists\u2019 expectations of 3% growth. The results come just a few days before elections begin, and a week before the Federal Reserve meets to decide on interest rates. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/77fc8220-fda6-46d5-98f1-67451d2c9cca\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/10\/30\/us-gdp-q3-2024.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/10\/30\/business\/economy\/economy-gdp-report.html\" style=\"\" rel=\"noopener\">New York Times<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CLOSER TO HOME- Israel is in talks for a potential ceasefire in Lebanon<\/strong>, with a draft proposal carried by Israeli media yesterday suggesting a potential agreement that could see a 60-day pause in fighting. Lebanese Prime Minister Najib Mikati said talks with the US envoys suggest an agreement could be reached before the end of the month and before 5 November. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US envoys for the Middle East Amos Hochstein and Brett McGurk are due to land in the Middle East today to discuss the potential agreement<\/strong> with Israeli Prime Minister Benjamin Netanyahu. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-30\/israel-eyes-deal-to-end-lebanon-combat-after-weakening-hezbollah?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/senior-biden-advisers-visit-israel-try-end-war-lebanon-axios-reports-2024-10-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/693a2d25-16ab-4e05-9133-84e196bcf62f\" style=\"\" rel=\"noopener\">FT<\/a>) <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re looking for our first dedicated audience development professional. <\/strong>Someone who loves the challenge of helping us reach new readers in new markets \u2014 Saudi, the UAE, and lots more to come \u2014using a range of digital channels and tools. You\u2019re someone who thrives on working in a small, focused team. You\u2019ve got proven digital skills (more likely than not on the performance marketing side). And you want to be part of what we immodestly think is the region\u2019s most exciting media, advisory, and business intelligence company. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Interested? <\/strong>Tell Patrick and Moustafa why and send us your resume on <a target=\"_blank\" href=\"mailto:newjobs@enterprise.news\" style=\"\" rel=\"noopener\">newjobs@enterprise.news<\/a>. We\u2019d love to hear from you today. The position is based in Cairo, offers two days a week working anywhere you please, and offers a competitive package. (We\u2019re also pretty nice people to work with, if we don\u2019t say so ourselves.)<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"654320 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"654320\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/31\/654320\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654320\" class=\"content-area-description single-story post-654320 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1544.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Somabay<\/span><span style=\"\">, every reason to fall in love.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"654321\" 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=\"654321\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/31\/sidpec-to-set-up-a-usd-159-mn-sodium-cyanide-factory-dp-world-to-look-into-setting-up-a-freezone-in-the-new-capital\/\">\r\n                            Egypt\u2019s Sidpec to set up a USD 159 mn sodium cyanide factory + DP World to look into setting up a freezone in the new capital                        <\/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\/31\/sidpec-to-set-up-a-usd-159-mn-sodium-cyanide-factory-dp-world-to-look-into-setting-up-a-freezone-in-the-new-capital\/\" target=\"_blank\">\n  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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/31\/sidpec-to-set-up-a-usd-159-mn-sodium-cyanide-factory-dp-world-to-look-into-setting-up-a-freezone-in-the-new-capital\/539-jpg-34\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/539.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"539.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/539.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/539.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654321\" class=\"content-area-description single-story post-654321 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-acud tag-cabinet-watch tag-dp-world tag-enterpriseam tag-gafi tag-manufacturing tag-new-administrative-capital tag-sidi-kerir-petrochemicals tag-suez-canal-economic-zone 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\/.411f9b0a-5712-42e5-a84c-03602482866c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>More manufacturing news: <\/strong>On a day busy with manufacturing news, the cabinet greenlit a new Sidpec project and DP World signed an MoU to explore the possibility of developing a public freezone in the new capital. <\/p>\n<p class=\"tag-border-left\">A USD 159 MN PLASTIC PLANT FROM SIDPEC - <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new project from Sidpec: <\/strong>Sidi Kerir Petrochemicals (Sidpec) will set up a USD 159 mn project for the production of sodium cyanide and its derivatives \u2014 dubbed Draschem for Specialized Chemicals \u2014 after cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/19ejR7N8Ek\/\" style=\"\" rel=\"noopener\">approved the move yesterday<\/a> during its weekly meeting. The plant will be set up on the company\u2019s factory complex in Alexandria under the special freezones system.<\/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>SOUND SMART- <\/strong>Sodium cyanide is the solution commonly used for gold extraction from low-grade ore, and can be used to extract other metals, including copper, zinc, and silver.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A regional first: <\/strong>The factory will make Egypt the first country in the MENA region to localize the production of sodium cyanide. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some relief for our trade deficit:<\/strong> The factory will be fully dependent on local components and will export 100% of its output. It will initially produce some 50-55k cbm of sodium cyanide, with plans to double that during a later phase. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There has been a lot of interest in sodium cyanide this year: <\/strong>Earlier this year, German cyanide producer CyPlus reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/43a9cbdd-ba38-4f10-94bb-8603572b6188\/two-european-firms-mull-usd-270-mn-investments-in-plays-on-egypt%25e2%2580%2599s-growing-gold-industry\" style=\"\" rel=\"noopener\">submitted an investment proposal<\/a> to set up a USD 150 mn factory that would produce 30k tonnes of sodium cyanide per annum, while another Austrian company was said to have submitted a proposal for a USD 120 mn factory. Shortly after, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/930789eb-0a6b-4db4-8359-b574c476af59\/chinese-steel-factory-opens-in-sczone.-plus:-elaraby-and-taiwanese-company-to-build-ac-factory,-public-enterprise-ministry-mulls-mineral-extraction-project\" style=\"\" rel=\"noopener\">news broke<\/a> that Austria\u2019s Petrochemical Holding Company and Czech company Draslovka are planning to jointly establish a sodium cyanide facility in Egypt \u2014 a facility that would see initial investments of USD 160 mn in its first phase.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Another private freezone? <\/strong>Cabinet approved a draft decision to set up a private freezone under the name Yada Egypt in New Alamein\u2019s industrial zone. The EUR 70 mn zone will focus on furniture manufacturing, with 100% of its output earmarked for exports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More details: <\/strong>The zone will have an annual production target of 40 mn pieces of furniture with the local component ratio starting at 40% to be increased to 80%. <\/p>\n<p class=\"tag-border-left\">DP WORLD COULD SET UP A FREEZONE IN THE NEW CAPITAL- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>DP World to look into setting up a freezone in the new capital: <\/strong>Dubai\u2019s state-owned port operator <a target=\"_blank\" href=\"https:\/\/www.dpworld.com\/en\" style=\"\" rel=\"noopener\">DP World<\/a> has agreed to explore the possibility of developing a public freezone in the new capital under an MoU inked with the New Administrative Capital for Urban Development (ACUD) and the General Authority for Investment and Freezones (GAFI), according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid031dbdoTxBprgDDqgVQXnxbESos8fSYa67xxdgEJyqujAivE4jxYCFAAQBJnJgdf1vl\" style=\"\" rel=\"noopener\">cabinet statement<\/a> out yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know so far: <\/strong>The proposed project will span 500 feddans owned by ACUD and will focus on key industrial sectors, including electronics, automotive, fast-moving consumer goods, garments, and footwear.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> The MoU states that the parties involved will shortly kickstart technical and feasibility studies, ahead of inking the official contracts for the new project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We might have already heard about the same project: <\/strong>ACUD Chairman Khaled Abbas <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4300b43b-ec32-42cf-aaf9-d8c1048b100c\/united-bank%25e2%2580%2599s-ipo-roadshow-is-taking-place-next-month\" style=\"\" rel=\"noopener\">told<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4300b43b-ec32-42cf-aaf9-d8c1048b100c\/united-bank%25e2%2580%2599s-ipo-roadshow-is-taking-place-next-month\" style=\"\" rel=\"noopener\">the media earlier this week<\/a> that the company would ink an MoU with an unnamed company from the UAE for a 500-feddan industrial zone in the coming days, although without any mention of it having the status of a freezone.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s also not the only Emirati freezone project on the drawing table:<\/strong> Recent meetings in August between government officials and Emirati government and business figures covered a proposal to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3090c98a-fef2-4ae3-a3ed-b39e501fc64e\/egypt-and-uae-ink-three-project-agreements-worth-bns-of-investments\" style=\"\" rel=\"noopener\">set up an Emirati industrial zone<\/a> in East Port Said, which the government said it was considering making a freezone or special economic zone exempt from customs duties.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The authority already has 11 more freezones in the pipeline: <\/strong>We heard earlier this month from unconfirmed reports that GAFI will <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/647550cc-d91a-4aaf-b19c-179e0363316a\/russia-wants-to-de-dollarize-brics\" style=\"\" rel=\"noopener\">set up five more freezones<\/a> in Greater Cairo and New Alamein under the special freezones system in response to investor demand, in addition to a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dcf991e8-4a1f-452f-a564-0799601e83e5\/egypt-wants-to-get-back-on-jpmorgan%25e2%2580%2599s-em-indices\" style=\"\" rel=\"noopener\">further six zones<\/a> announced a week earlier.<\/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\">A NEW EGP 100 MN POLYURETHANE PLANT IN THE WORKS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SCZone gets ready to welcome a new plastic factory:<\/strong> The Suez Canal Economic Zone (SCZone) has signed a contract with Dubai-based polyurethane systems firm, <a target=\"_blank\" href=\"https:\/\/pearlpolyurethane.com\/\" style=\"\" rel=\"noopener\">Pearl Polyurethane Systems<\/a>, to set up a polyurethane factory in the Sokhna Industrial Zone, with initial investments of EGP 100 mn, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/pfbid0dwVtoBwkH5JLV5K1Z8dKc3D3S2MRfUixDQb4VGwJFXuXy4AXZeBdpGbayTXJtvXPl\" style=\"\" rel=\"noopener\">SCZone statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know:<\/strong> The plant will be set up within the ready-to-use factories area developed by industrial developer Main Development Company over 5k sqm. The plant will create about 45 jobs from the start, with the second phase slated to bring in additional investments and more jobs. Production is set to start in 1Q 2025, with a targeted capacity of 20k tons of polyurethane annually, with its sights set on Africa and Southern Europe as potential export markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the company:<\/strong> Founded in 2006, Pearl specializes in polyurethane and polyester insulation solutions and other applications. The company has over 35 years of experience in Middle Eastern markets, and boasts several investments in Saudi Arabia, UAE, and India.<\/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\/acud\/\">ACUD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/dp-world\/\">DP World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gafi\/\">GAFI<\/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\/new-administrative-capital\/\">new administrative capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sidi-kerir-petrochemicals\/\">Sidi Kerir Petrochemicals<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2802.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"654325\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/31\/cabinet-approves-changes-to-debt-management-committee-and-setting-up-an-energy-planning-committee-tax-facilities\/2802-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2802.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2802.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2802.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2802.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654324\" class=\"content-area-description single-story post-654324 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-cabinet-watch tag-education tag-energy tag-enterpriseam tag-madbouly-cabinet tag-moustafa-madbouly tag-tax 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\/.374ae508-b09e-41b4-a9e1-60c8d2a3a631.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Cabinet greenlighted a number of decisions during its <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/mgh4uNWGYd6yzB1E\/\" style=\"\" rel=\"noopener\">weekly meeting<\/a><\/strong>, which covered education, tax facilities, and energy. <\/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- Debt management committee gets a facelift:<\/strong> Cabinet approved a draft decision from Prime Minister Moustafa Madbouly changing up the government committee in charge of managing debt and external borrowing. The changes will the committee solely focused on managing external debt and tasked with setting an annual maximum borrowing limit based on financial sustainability standards. The committee will also be responsible for discussing solutions to bridge the FX financing gap and implementing a rigorous governance system, similar to that used for concessional loans.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The personnel involved:<\/strong> The revamped committee will be headed up by the prime minister, and includes the ministers of finance, investments, and planning, CBE governor, as well as a representative from the General Intelligence Service and another one from the Administrative Control Authority.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- A new energy committee:<\/strong> The cabinet approved the establishment of a new committee \u2014 dubbed the Energy Planning Unit \u2014 that will be responsible for proposing strategies, policies, and plans for implementing energy solutions, as well as providing technical advice to the Supreme Council of Energy, preparing its agenda, and following up on its decisions. The committee will also prepare technical reports on energy projects and their efficiency.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The committee will meet at least once every two weeks and will submit its recommendations to the Supreme Council of Energy for approval. The head of the unit will be appointed by Madbouly for a renewable three-year term and will include representatives from 15 ministries and government agencies, alongside three energy planning experts nominated by the head of the unit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Foundation year gets approval:<\/strong> The cabinet approved draft amendments to the law governing private and national universities that introduce the foundation year system. The amendments allow high school students who wish to enter a specific college without meeting admissions criteria to join a foundation year beginning academic year 2024-25. The foundation year will be available for candidates whose final grades are within 5% of the minimum qualifying score for admission and will take into account the student\u2019s qualifications and the college\u2019s capacity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foundation year?<\/strong> During this bridge year students can complete foundation courses through university-administered tests to receive bonus points that go toward their overall scores \u2014 the move allows students to enroll in colleges that they couldn't get into with their high school scores alone. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DIG DEEPER- We took a look at how the education sector is preparing for the foundation <\/strong><strong>year system<\/strong> in a <a target=\"_blank\" rel=\"noopener\">Blackboard<\/a> published last month. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- <\/strong>The cabinet greenlit three of the long list of tax facilities that were <a target=\"_blank\" rel=\"noopener\">announced<\/a> earlier this month: <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Unified Tax Procedures Law amendments:<\/strong> The cabinet approved a draft law amending the Unified Tax Procedures Law, which set out guidelines for tax reconciliation. The finance minister can now settle violations not subject to tax dues in exchange for legally stipulated compensation, while Income Tax Law violations can be settled in exchange for 12.5% of the amount not deducted, withheld, collected, or remitted.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Resolution of existing tax disputes:<\/strong> The cabinet approved a draft law to settle the status of taxpayers and end existing tax disputes \u2014 part of its wider drive to ease the burden on taxpayers and unify and improve tax services. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Cabinet spokesperson Mohamed El Homsani <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fab1d929-3314-4629-a70f-2d00c9c06421\/talk-shows-cover-the-announcement-of-fresh%253cmark%253e-tax%253c%2Fmark%253e-facilities\" style=\"\" rel=\"noopener\">previously said<\/a> that all tax disputes predating the announcement will be settled as part of wider efforts to build trust with taxpayers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Additional tax incentives for businesses with an annual turnover of no more than <\/strong><strong>EGP 15 mn:<\/strong> The government provided further details on its incentives for businesses with an annual turnover of up to EGP 15 mn, including exemption from development fees, stamp duties, and registration fees. The government will also grant eligible businesses additional exemptions that will apply to capital gains and dividend distributions, among others. The amendments will take effect starting January 2025.<\/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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madbouly-cabinet\/\">Madbouly Cabinet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/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=\"654326 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=\"654326\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/31\/654326\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654326\" class=\"content-area-description single-story post-654326 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.eg\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/295.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"654327\" 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=\"654327\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/31\/ksas-ayen-fully-acquires-local-startup-elmawkaa-in-sar-seven-figure-transaction\/\">\r\n                            KSA\u2019s Ayen fully acquires local proptech startup Elmawkaa in SAR seven-figure transaction                        <\/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 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data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2799.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2799.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654327\" class=\"content-area-description single-story post-654327 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-construction tag-enterpriseam tag-real-estate tag-startup-watch tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.31db2bc3-cccd-40a5-af9b-db89352c5282.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egyptian contech startup Elmawkaa has been acquired by Saudi-based Ayen: <\/strong>Home-grown construction tech startup <a target=\"_blank\" href=\"https:\/\/elmawkaa.com\/\" style=\"\" rel=\"noopener\">Elmawkaa<\/a> has been acquired by Saudi-based real estate appraisal platform <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/ayenplatform\" style=\"\" rel=\"noopener\">Ayen<\/a> in a SAR seven-figure transaction that will see Ayen integrate Elmawkaa\u2019s construction materials marketplace into its property evaluation platform, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/2782.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The terms:<\/strong> The transaction will see Ayen fully acquire Elmawkaa through a share swap, with the founders and existing investors making a 100% exit from the company, Elmawkaa CEO Ebrahem Anwar told EnterpriseAM. Anwar and his fellow cofounders Mohamed Thabet and Mahmoud Habib will hold C-suite positions within Ayen as part of the agreement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The why: <\/strong>The acquisition will allow Ayen to integrate Elmawkaa\u2019s materials marketplace into its existing, fee-based property valuation service, part of which involves suggesting potential renovations that could add value to users\u2019 property, Anwar told EnterpriseAM, explaining that the move will allow Ayen to direct clients to their own in-house marketplace, offering a more integrated experience \u2014 alongside contributing to the firm\u2019s expansion in Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Unlocking new markets: <\/strong>\u201cThrough acquiring Elmawkaa, we will complete our service cycle for clients and unlock new markets. We are excited to work with this talented team, whose expertise will bring substantial value to our organization as we continue to innovate and grow,\u201d Ayen founder and CEO Ali Almohsen said in the press release. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Elmawkaa: <\/strong>Founded in 2017, Elmawkaa\u2019s platform uses matching algorithms to help users buy and sell building materials, allowing customers to request quotations from suppliers before choosing the best bid. The company has raised USD 500k over three successful funding rounds \u2014 including <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/86bafd5e-7dae-43b3-a533-9aa11226964b\/construction-tech-outfit%253cmark%253e-elmawkaa%253c%2Fmark%253e-and-mobile-security-startup-magiccube-close-rounds\" style=\"\" rel=\"noopener\">a seed round led by Flat6Labs<\/a> in 2021 \u2014 helping the company establish itself in the Egyptian and Saudi markets, Anwar said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In numbers: <\/strong>At the moment, the company connects 11k contracting companies operating in the local market with 1.8k suppliers and some 1.5k contracting companies with 600 suppliers in the Saudi market. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next for Ayen?<\/strong> Post-acquisition, the company plans to kick off an expansion drive in the Egyptian, Saudi, and Emirati markets, with the company looking to Elmawkaa to deepen its presence in Egypt. The company is also set to open a new pre-IPO investment round focused on real estate ins. and project financing, as the company gears up for expansion into new GCC markets, AlMohsen said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Proptech startups have a big role to play in our urban development plans: <\/strong>Egyptian property tech startups got a boost last month after the Administrative Capital for Urban Development (ACUD) announced the launch of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/30ba38ca-fa9f-4841-8009-f0760ad3c01d\/auto-jameel-to-assemble-up-to-15k-gac-cars-locally:-plus:-rameda,-vodafone,-ayadi,-entlaq,-acud,-raya-foods\" style=\"\" rel=\"noopener\">an incubator for real estate startups<\/a>, with ACUD chairman Khaled Abbas underscoring the importance of proptech in the future of urban development, including Egypt\u2019s smart cities.<\/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\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"654329\" 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=\"654329\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/31\/newly-merged-wasoko-and-maxab-tap-new-technical-advisor\/\">\r\n                            Newly-merged Wasoko and MaxAB tap new technical advisor                        <\/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\/31\/newly-merged-wasoko-and-maxab-tap-new-technical-advisor\/\" 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\/31\/newly-merged-wasoko-and-maxab-tap-new-technical-advisor\/')\">\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\/31\/newly-merged-wasoko-and-maxab-tap-new-technical-advisor\/\">\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=Newly-merged Wasoko and MaxAB tap new technical advisor&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/31\/newly-merged-wasoko-and-maxab-tap-new-technical-advisor\/\">\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\/31\/newly-merged-wasoko-and-maxab-tap-new-technical-advisor\/&title=Newly-merged Wasoko and MaxAB tap new technical advisor\">\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=Newly-merged+Wasoko+and+MaxAB+tap+new+technical+advisor+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F31%2Fnewly-merged-wasoko-and-maxab-tap-new-technical-advisor%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\/31\/newly-merged-wasoko-and-maxab-tap-new-technical-advisor\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2633.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"654330\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/31\/newly-merged-wasoko-and-maxab-tap-new-technical-advisor\/2633-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2633.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2633.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2633.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2633.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654329\" class=\"content-area-description single-story post-654329 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam tag-maxab tag-moves tag-startups tag-wasoko 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\/11\/.d2f7eda6-ba15-4253-a275-b3f3d47c0d6b.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wasoko and MaxAB have a new technical advisor:<\/strong> The newly-merged Wasoko and MaxAB have appointed Mohamed (Mo) El Shenawy (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/mohamedelshenawy\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as an independent board director and technical advisor, the company announced in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/2631.pdf\" style=\"\" rel=\"noopener\">press release (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/2631.pdf\" style=\"\" rel=\"noopener\">pdf)<\/a>. El Shenawy currently serves as president and CTO of driverless car maker <a target=\"_blank\" href=\"https:\/\/www.getcruise.com\/\" style=\"\" rel=\"noopener\">Cruise<\/a> following a long career in the tech industry, which has seen El Shenawy found three tech startups and hold leadership positions at global tech giants like Amazon. Elshenawy also serves on Mercedes-Benz\u2019s software advisory council.<\/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>\u201cEl Shenawy will be instrumental in accelerating Wasoko and MaxAB<\/strong>\u2019s technology development, scaling the company\u2019s systems and pushing the boundaries of its artificial intelligence tools and capabilities,\u201d the release read.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sitting on the company\u2019s board: <\/strong>Alongside El Shanawy, the company\u2019s board now includes Youssef Salem, Quona Capital\u2019s Monica Engel, 4DX Venture\u2019s Peter Orth, and co-CEOs Belal El Megharbel and Daniel Yu.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> Last August, Egyptian B2B e-commerce platform MaxAB and Kenya-based Wasoko <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bfb9761f-4e1d-4e98-bc0b-957afe7fed71\/egypt%25e2%2580%2599s%253cmark%253e-maxab%253c%2Fmark%253e-and-kenya%25e2%2580%2599s-wasoko-complete-africa'\" style=\"\" rel=\"noopener\">completed their merger<\/a> and established a Pan-African platform serving Africa's retail sector. The new entity connects more than 450k merchants to over 65 mn consumers across Egypt, Morocco, Kenya, Tanzania, and Rwanda.<\/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\/maxab\/\">MaxAB<\/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\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wasoko\/\">Wasoko<\/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=\"654331 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=\"654331\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/31\/654331\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654331\" class=\"content-area-description single-story post-654331 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=\"654332\" 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=\"654332\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/31\/emirati-president-pardons-zamalek-players-from-one-month-prison-sentence\/\">\r\n                            Emirati President pardons Zamalek players from one-month prison sentence                        <\/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\/31\/emirati-president-pardons-zamalek-players-from-one-month-prison-sentence\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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       <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Emirati+President+pardons+Zamalek+players+from+one-month+prison+sentence+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F10%2F31%2Femirati-president-pardons-zamalek-players-from-one-month-prison-sentence%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\/31\/emirati-president-pardons-zamalek-players-from-one-month-prison-sentence\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2797.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"654333\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/31\/emirati-president-pardons-zamalek-players-from-one-month-prison-sentence\/2797-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2797.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2797.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2797.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2797.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654332\" class=\"content-area-description single-story post-654332 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-enterpriseam tag-sports 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\/.d1a68a54-53cc-4f4b-99f5-3a5872a15d90.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An Emirati presidential pardon: <\/strong>Emirati President Sheikh Mohamed bin Zayed Al Nahyan has pardoned Zamalek players Mostafa Shalaby and Nabil Emad and sporting director Abdel Wahed El Sayed from one-month prison sentences handed out by the Abu Dhabi Criminal Court, alongside a USD 55k fine, after their involvement in a scuffle with a stadium organizer during the Egyptian Super Cup semi-final in Abu Dhabi, state-run WAM news agency <a target=\"_blank\" href=\"https:\/\/x.com\/wamnews\/status\/1851342879744225539\" style=\"\" rel=\"noopener\">broke the news<\/a> and <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/soccer\/two-zamalek-players-handed-one-month-prison-sentence-assault-2024-10-29\/\" style=\"\" rel=\"noopener\">Reuters<\/a> picked it up. <\/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\/sports\/\">sports<\/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=\"654334\" 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=\"654334\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/31\/halliburton-to-bring-four-wells-online-by-december-plus-news-from-medcom-aswan-fra-q-developments\/\">\r\n                            Halliburton to bring four wells online by 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       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PLUS: News from Medcom Aswan, FRA, Q Developments,&url=https:\/\/enterpriseam.com\/egypt\/2024\/10\/31\/halliburton-to-bring-four-wells-online-by-december-plus-news-from-medcom-aswan-fra-q-developments\/\">\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\/31\/halliburton-to-bring-four-wells-online-by-december-plus-news-from-medcom-aswan-fra-q-developments\/&title=Halliburton to bring four wells online by December. 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The nearly-completed wells include two in the Burullus offshore gas field in the Mediterranean and two in BP\u2019s <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#:~:text=%231%2D%20BP%20to%20ramp%20up%20production%3A%20Global%20energy%20giant%20BP%20plans%20to%20invest\" style=\"\" rel=\"noopener\">Raven gas field<\/a> in Alexandria. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The American oil giant has already brought one well online as part of the tenth phase of the Burullus project, with another set to be finalized this week, adding a combined 150-200 cubic feet of gas per day to the field\u2019s output. Halliburton also plans to bring two new wells in BP's Raven field online by mid-November, with the first to be ready for production within days. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Plus, well-stimulation tech: <\/strong>The company is also reportedly rolling out well-stimulation technologies across key fields to boost output, in line with the government\u2019s push to stymie production declines, the source told Al Arabiya.<\/p><p class=\"tag-border-left\">CONSTRUCTION-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our friends at Hassan Allam Construction Saudi are set to participate in the <\/strong><strong>construction of a monorail project in Riyadh<\/strong>, after inking an agreement with Saudi Arabia\u2019s King Abdullah Financial District Development (KAFD), according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/2793.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The project, which will be carried out alongside Chinese rail firm CRRC and CRRC Nanjing Puzhen, will span 3.6 km and will consist of six trains traveling along a circular track with six stations, with an expected capacity of 3.5k passengers per hour.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \"We are proud to partner with KAFD DMC and CRRC, and are honored to play a pivotal role in the KAFD monorail project, a landmark development in Riyadh that signifies a significant milestone in our mission to enhance transportation networks and drive sustainable economic growth. This project underscores our long-standing commitment to Saudi Arabia, and we look forward to continuing our efforts to pioneer innovative solutions that contribute to the Kingdom's growth and prosperity,\" Hassan Allam Holding co-CEO Amr Allam said.<\/p><p class=\"tag-border-left\">REAL ESTATE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SODIC wants to increase non-real estate activities\u2019 proportion of total revenue:<\/strong> EGX-listed real estate developer SODIC aims to up its revenues from hotel, administrative, sporting, and commercial activities to between 12-15% of the firm\u2019s total revenues within five years, SODIC general manager Ayman Amer told <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=543380061743180\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Real estate prices to see another spike?<\/strong> SODIC expects real estate prices to go up by 15% as a result of the recent energy price hikes, Amer added.<\/p><p class=\"tag-border-left\">HOSPITALITY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Q<\/strong><strong> Developments is la<\/strong><strong>unching boutique hotel in Alexandria: <\/strong>Real estate developer Q Developments is setting up an EGP 300 mn, 40-room boutique hotel in Alexandria\u2019s San Stefano with plans to open its doors early next year, CEO Ahmed Thabet told EnterpriseAM. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More projects in the pipeline:<\/strong> The company is also developing Q North in the North Coast, a EGP 10 bn, 100-feddan project that includes a 240-room Novotel-branded hotel and 1.6k residential units.<\/p><p class=\"tag-border-left\">REGULATIONS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FRA tightens rules on brokerage firm transfers:<\/strong> The Financial Regulatory Authority (FRA) has issued a new decision that prevents brokerage firms from making financial transfers between client accounts or receiving deposits from anyone other than the account holder, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d9%82%d8%b1%d8%b1-%d9%85%d9%86%d8%b9-%d8%b4%d8%b1%d9%83%d8%a7%d8%aa-%d8%a7%d9%84%d8%a3%d9%88\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports. The new rules aim to cut down on fraud and ensure a secure investment environment, with the only exceptions granted to spouses and first- and second-degree relatives \u2014 such as siblings, children, and grandparents.<\/p><p class=\"tag-border-left\">AUTOMOTIVE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mitsubishi\u2019s local agent sets up freezone:<\/strong> Diamond Motors \u2014 Mitsubishi\u2019s sole agent in Egypt \u2014 has set up a freezone in Alexandria to streamline vehicle and spare parts imports and exports, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%af%d8%a7%d9%8a%d9%85%d9%88%d9%86%d8%af-%d9%85%d9%88%d8%aa%d9%88%d8%b1%d8%b2-%d8%aa%d8%a4%d8%b3%d8%b3-%d9%85%d9%86%d8%b7%d9%82%d8%a9-%d8%ad%d8%b1%d8%a9-%d9%84%d8%a7%d8%b3%d8%aa%d9%8a\/\" style=\"\" rel=\"noopener\">Al M<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%af%d8%a7%d9%8a%d9%85%d9%88%d9%86%d8%af-%d9%85%d9%88%d8%aa%d9%88%d8%b1%d8%b2-%d8%aa%d8%a4%d8%b3%d8%b3-%d9%85%d9%86%d8%b7%d9%82%d8%a9-%d8%ad%d8%b1%d8%a9-%d9%84%d8%a7%d8%b3%d8%aa%d9%8a\/\" style=\"\" rel=\"noopener\">a<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%af%d8%a7%d9%8a%d9%85%d9%88%d9%86%d8%af-%d9%85%d9%88%d8%aa%d9%88%d8%b1%d8%b2-%d8%aa%d8%a4%d8%b3%d8%b3-%d9%85%d9%86%d8%b7%d9%82%d8%a9-%d8%ad%d8%b1%d8%a9-%d9%84%d8%a7%d8%b3%d8%aa%d9%8a\/\" style=\"\" rel=\"noopener\">l<\/a> reports citing an authorized Mitsubishi distributor. The move aims to cut down on hefty port storage fees, which have risen to EGP 40-50 per vehicle per day and USD 130 per container, while leveraging the facilities offered by freezones.<\/p><p class=\"tag-border-left\">EXPANSIONS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Medcom Aswan eyes EGP 6 bn cement plant in Libya:<\/strong> Medcom Aswan for Cement is in negotiations with Libyan investors over launching a EGP 6 bn cement plant in Tripoli by 2027, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%85%d9%8a%d8%af%d9%83%d9%88%d9%85-%d8%a3%d8%b3%d9%88%d8%a7%d9%86-%d8%aa%d9%81%d8%a7%d9%88%d8%b6-%d9%85%d8%b3%d8%aa%d8%ab%d9%85%d8%b1%d9%8a%d9%86-%d9%84%d9%8a%d8%a8%d9%8a%d9%8a%d9%86\/#google_vignette\" style=\"\" rel=\"noopener\">Al M<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%85%d9%8a%d8%af%d9%83%d9%88%d9%85-%d8%a3%d8%b3%d9%88%d8%a7%d9%86-%d8%aa%d9%81%d8%a7%d9%88%d8%b6-%d9%85%d8%b3%d8%aa%d8%ab%d9%85%d8%b1%d9%8a%d9%86-%d9%84%d9%8a%d8%a8%d9%8a%d9%8a%d9%86\/#google_vignette\" style=\"\" rel=\"noopener\">al<\/a> reports citing the company\u2019s commercial head Mohamed Adel. The plant will have an annual production capacity of 1 mn tons and will target Libya's local market and African export markets including C\u00f4te d'Ivoire and Tanzania. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More exports to come? <\/strong>The company plans to step into new export markets like Kenya and C\u00f4te d'Ivoire early next year, he said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Libya is an attractive market for investments:<\/strong> 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, Federation of Egyptian Industries\u2019 Mohamed El Bahy previously <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dc00352f-17e4-4298-802e-acf71c030d3e\/%253cmark%253elibya%253c%2Fmark%253e-is-setting-up-an-industrial-zone-to-leverage-egyptian-raw-materials-and-more-from-the-libyan-egyptian-industrial-and-trade-forum#:~:text=Strengthening%20Egyptian%2DLibyan%20trade%20relations%3A%20Last%20week%2C\" style=\"\" rel=\"noopener\">told EnterpriseAM<\/a>.<\/p><p class=\"tag-border-left\">ALSO WORTH NOTING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Visa\u2019s token tech is coming soon:<\/strong> Visa will activate its digital token technology in Egypt <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/10\/30\/%D8%A7%D8%B3%D8%AA%D8%B9%D8%AF%D8%A7%D8%AF%D8%A7%D8%AA-%D9%84%D8%AA%D9%81%D8%B9%D9%8A%D9%84-%D8%AA%D9%82%D9%86%D9%8A%D8%A9-%D8%AA%D9%8F%D8%BA%D9%86%D9%8A-%D8%B9%D9%86-%D8%A7%D9%84%D9%86%D9%82%D9%88%D8%AF-%D9%88%D8%A8%D8%B7%D8%A7%D9%82%D8%A7%D8%AA-%D8%A7%D9%84%D8%AF%D9%81%D8%B9-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1-\" style=\"\" rel=\"noopener\">within the next two months<\/a>. Visa has been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5fce5af8-2b73-4233-b876-b23607227254\/visa-unveils-key-financial-trends-for-smes-in-egypt\" style=\"\" rel=\"noopener\">working with the central bank<\/a> on the operational trials for months now. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Etihad Airways launches flights to Alamein:<\/strong> UAE\u2019s Etihad Airways <a target=\"_blank\" href=\"https:\/\/www.etihad.com\/en\/news\/etihad-airways-announces-new-flights-to-al-alamein-egypt\" style=\"\" rel=\"noopener\">will launch<\/a><a target=\"_blank\" href=\"https:\/\/www.etihad.com\/en\/news\/etihad-airways-announces-new-flights-to-al-alamein-egypt\" style=\"\" rel=\"noopener\">twice-weekly flights<\/a> to Alamein starting July 2025.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- United Bank <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.theubeg.com\/media-relations\/news\/the-united-bank-is-to-launch-safwa-saving-account-with-a-competitive-return\" style=\"\" rel=\"noopener\">launched a new savings account<\/a><\/strong><strong> \u2014 dubbed Safwa <\/strong>\u2014 with an annual return of up to 30%. You\u2019ll need a minimum of EGP 500k to open a Safwa account. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Sixteen new Tata car models to be launched next year:<\/strong> MM Group for Industry and International Trade is set to <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/10\/30\/1838776\" style=\"\" rel=\"noopener\">launch<\/a> 16 new Tata vehicle models locally in 2025.<\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/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\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hassan-allam-holding\/\">Hassan Allam Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/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\/sodic\/\">SODIC<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/visa\/\">Visa<\/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=\"654336\" 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=\"654336\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/31\/google-reports-bumper-3q-earnings\/\">\r\n                            Google reports bumper 3Q earnings as cloud services soar                        <\/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\/31\/google-reports-bumper-3q-earnings\/\" 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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                  \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\/31\/google-reports-bumper-3q-earnings\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2787.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"654337\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/31\/google-reports-bumper-3q-earnings\/2787-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2787.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2787.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2787.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2787.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654336\" class=\"content-area-description single-story post-654336 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-google tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.8921135a-664a-4952-b44b-37cd042c445c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Google parent company Alphabet\u2019s 3Q 2024 results far exceeded analyst forecasts<\/strong>, with net income up 34% to USD 26.3 bn and revenue increasing 15% y-o-y to USD 88.27 bn, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/2775.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Earnings per share increased 37% at USD 2.12. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the boost:<\/strong> The better-than-expected results suggest that the tech giant\u2019s expensive investments in AI are \u201cpaying off with consumers and partners benefiting from our AI tools,\u201d CEO Sundar Pichai said in the release. This return on investment is particularly evident in the company\u2019s 35% growth in cloud service sales to USD 11.4 bn and a ramp up in the numbers of users landing at the company\u2019s market-leading search engine, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-29\/alphabet-beats-quarterly-sales-estimates-on-google-cloud-growth?srnd=ai-stocks-to-watch\" style=\"\" rel=\"noopener\">Bloomberg<\/a> says. Investors had earlier raised concerns that Google was losing ground on AI to rivals Microsoft and OpenAI and that massive investments to close the gap may fail to bear fruit. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the DoJ may ruin the party, yet:<\/strong> The US Department of Justice (DoJ) said in a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ab3103cd-538d-45f9-84c8-c476ba5122ac\/%253cmark%253egoogle%253c%2Fmark%253e-faces-prospect-of-restructuring-following-antitrust-case\" style=\"\" rel=\"noopener\">32-page<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ab3103cd-538d-45f9-84c8-c476ba5122ac\/%253cmark%253egoogle%253c%2Fmark%253e-faces-prospect-of-restructuring-following-antitrust-case\" style=\"\" rel=\"noopener\">court filing earlier this month<\/a> that it was weighing measures that could see Google forced to spin off key divisions, share data, and open access to some platforms following a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/us-judge-rules-google-broke-antitrust-law-search-case-2024-08-05\/\" style=\"\" rel=\"noopener\">landmark court decision in August<\/a> which ruled that the company was in violation of US antitrust laws. The tech behemoth is also facing legal challenges over its ads business. Alphabet CEO Sundar Pichai was critical of the DoJ\u2019s legal campaign, warning on a conference call with investors that the measures could have \u201cunintended consequences\u201d for US leadership in the tech sphere, Bloomberg said. <\/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>Most Asian markets are a sea of red ahead of Bank of Japan\u2019s interest rate decision later today<\/strong>, with only mainland China\u2019s Shanghai Index up in trading. Over on <strong>Wall Street<\/strong>, futures are also slipping after Microsoft and Meta reported their earnings, dragging down their share prices in after hours trading. <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,371<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: +22.0%)<\/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>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 48.71<\/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 48.84<\/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 48.69<\/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 48.79<\/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\">12,019<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +0.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,328<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: -2.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,605<\/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: +13.4%)<\/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>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\">5,814<\/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: +21.9%)<\/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>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\">8,160<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +5.5%)<\/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>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\">4,886<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3% (YTD: +8.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 73.05<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2.85<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,801<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 72,515<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +72.2%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 0.8% at yesterday\u2019s close<\/strong> on turnover of EGP 3.1 bn (26.5% below the 90-day average). International investors were the sole net sellers. The index is up 22.0% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Heliopolis Housing (+2.8%), B Investments Holding (+1.4%), and Edita (+1.2%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Cleopatra Hospitals (-3.9%), Ezz Steel (-3.0%), and Elsewedy Electric (-2.8%).<\/p><p class=\"tag-border-left\">CORPORATE ACTIONS- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Raya Holding transferred 2.76 mn shares for a total of EGP 9.5 mn<\/strong> yesterday as part of its employee incentive and reward program, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/2718.JPG\" style=\"\" rel=\"noopener\">EGX bulletin<\/a>.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Egytrans\u2019 board approved increasing Egytrans Arabia\u2019s capital from SAR 500k <\/strong><strong>to SAR 10 mn<\/strong>, ensuring Egytrans' share contribution of SAR 5 mn, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/2698.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The board also approved the restructuring of the Investment Committee.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Alexandria Container &amp; Cargo Handling will be paying its shareholders a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4360807\/%D8%A7%D9%84%D8%A5%D8%B3%D9%83%D9%86%D8%AF%D8%B1%D9%8A%D8%A9-%D9%84%D8%AA%D8%AF%D8%A7%D9%88%D9%84-%D8%A7%D9%84%D8%AD%D8%A7%D9%88%D9%8A%D8%A7%D8%AA-%D8%AA%D8%B5%D8%AF%D8%B1-%D8%AA%D9%88%D8%B6%D9%8A%D8%AD%D8%A7-%D8%A8%D8%B4%D8%A3%D9%86-%D8%A7%D9%84%D8%AA%D9%88%D8%B2%D9%8A%D8%B9%D8%A7%D8%AA-%D8%A7%D9%84%D9%86%D9%82%D8%AF%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">dividend<\/a><\/strong> <strong> of USD 0.003 and EGP 1.72 per share <\/strong>after its general assembly approved the move. The general assembly also approved EGP 2 mn bonuses for the CEO and non-executive chairman, alongside EGP 1.5 mn bonuses for each board member, the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/2715.pdf\" style=\"\" rel=\"noopener\">EGX disclosure<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/2715.pdf\" style=\"\" rel=\"noopener\">(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\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/google\/\">Google<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"654338\" 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=\"654338\">\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\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/31\/my-morning-routine-ahmed-elzayat-founder-and-ceo-of-engineering-management-systems\/\">\r\n                            My Morning Routine: Ahmed Elzayat, founder and CEO of Engineering Management Systems                        <\/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\/31\/my-morning-routine-ahmed-elzayat-founder-and-ceo-of-engineering-management-systems\/\" 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 Ahmed Elzayat (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ahmed-elzayat-a8325b41\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), CEO of Engineering Management Systems (EMS) and member of the Egyptian Businessmen's Association.<\/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 nam<\/strong><strong>e is Ahmed Elzayat and I graduated with a bachelor's degree in mechanical power<\/strong><strong> engineering <\/strong>from Port Said University in 2006. I'm married with no children yet, and I'm passionate about football, which is my favorite hobby. I'm also a member of the Egyptian Businessmen's Association and the Investment Division at the Federation of Chambers of Commerce.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I founded EMS in 2018<\/strong>, after years of working in engineering in Egypt and GCC countries. EMS started in the Egyptian market with engineering contracting and consulting for two years before partnering with Germany\u2019s Siemens in control systems and AI-powered management solutions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As Siemens' partner for control systems and AI in Egypt<\/strong>, we focus on digital transformation and sustainability across various facilities, from hospitals and hotels to residential compounds and shopping malls. Our solutions help reduce carbon footprints, manage energy efficiently, and enable stakeholders to operate their facilities using industrial AI technologies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We're currently focused on AI-powered control and management systems for water <\/strong><strong>stations.<\/strong> We're working with the Housing Ministry to manage and operate 21 water system schemes in New Cairo \u2014 the first such implementation in the entire region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AI is currently the latest global digitization trend.<\/strong> I'm working to convince government entities in Egypt to adopt these technologies in managing and operating facilities, starting with hospitals and water stations. We've successfully landed an agreement with the General Healthcare Authority to implement an AI-powered app for hospital operations and management, which has also been promoted in Saudi Arabia.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our main challenge is convincing government entities<\/strong> to adopt AI technologies in facility management and remote control. Innovation is also central to our operations \u2014 we collaborate with numerous Egyptian universities and our main partner, Siemens Germany, to leverage their digital expertise and improve work standards.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I try to maintain a consistent morning routine.<\/strong> I wake up at 8am and spend an hour enjoying my coffee while browsing news about my field, politics, economics, and of course, sports. I recently started reading EnterpriseAM, which seems seamless and addresses a vast segment of readers, compared to other publications. Team meetings start as soon as I reach the office at 9am for an hour, followed by checking emails and meeting clients both in and outside the office. I spend two hours following up our operations in Saudi Arabia, where we opened our first overseas branch seven months ago. I aim to complete all tasks by 5pm.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Going out after work is one of my most cherished habits<\/strong> to break from the traditional work pattern and recharge. I love exploring new places in Cairo, whether with family or friends, and I make it a point to visit my family in Tanta whenever possible.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I maintain focus by setting priorities<\/strong>, using mobile apps to organize tasks, meetings, and commitments. Each day, I have one main task that gets my full attention until completion, along with some secondary tasks that I don't neglect.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My personal goal is to enjoy the journey.<\/strong> Overcoming challenges and the thrill of achievement are life's greatest pleasures. I don't believe in working non-stop until retirement \u2014 life shouldn't be compartmentalized, but rather enjoyed at every step.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Professionally, representing Siemens Germany in Egypt was a dream<\/strong> since university, and I worked to qualify myself for it. Now that I've achieved this, I'm focusing on opening more branches of my company in other Arab countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Clear goal-setting helps me maintain work-life balance.<\/strong> I always strive to make each year better than the last, both personally and professionally. Every three years, I reward myself with lifestyle improvements, whether it's a new car, a bigger house, expanding my company, or visiting somewhere new \u2014 these things keep me moving forward with passion.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Contentment helps reduce my stress levels,<\/strong> mainly because I'm convinced that I spare no effort in pursuing my goals, while leaving the results to God and accepting them with satisfaction regardless of the outcome. I avoid the business community's obsession that some have of being consumed by money-making and reaching the top quickly.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Reading helps me unwind after a tough workday.<\/strong> I lean towards philosophy to clear my mind. I'm currently reading <a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/book\/show\/36173910-the-muqaddimah\" style=\"\" rel=\"noopener\">Ibn Khaldun's Muqaddimah<\/a>, which I find fascinating as it offers a window into social philosophy and helps me see things better. I also recommend reading the <a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/book\/show\/31871.History_of_Political_Philosophy\" style=\"\" rel=\"noopener\">History of Political Philosophy<\/a> by Leo Strauss.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Besides following local and international football,<\/strong> I regularly watch <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/channel\/UCqW7G8SmyeEeQYzLOk5tdSg\" style=\"\" rel=\"noopener\">Da7ee7<\/a> and <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/@MokhbirEqtisadi\" style=\"\" rel=\"noopener\">Mokhbir<\/a><a target=\"_blank\" href=\"https:\/\/www.youtube.com\/@MokhbirEqtisadi\" style=\"\" rel=\"noopener\">Eqtisadi<\/a>, though I'm not a fan of long podcasts. I make sure to go to the cinema at least every two weeks \u2014 I enjoy Marwan Hamed and Ahmed Nader Galal's works that deliver value and messages to society. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One of the best pieces of advice I received<\/strong> came from my manager in Dubai, who emphasized the importance of studying business administration to develop my ability to bring in projects, rather than focusing solely on developing myself as a traditional engineer. For me, The Count of Monte Cristo also carries a lesson I always remember \u2014 You can achieve everything from nothing.<\/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\/siemens\/\">Siemens<\/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=\"654340\" 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\/31\/654340\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654340\" class=\"content-area-description single-story post-654340 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;\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-3 November (Saturday-Sunday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/investpromo.gov.iq\/ar\/?page_id=40611#forumInv\" style=\"\">Iraq Investment Forum<\/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>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>12-15 November (Tuesday-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>16-17 December (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/miningconferences.org\/?gad_source=1&gclid=Cj0KCQjwpvK4BhDUARIsADHt9sTVcsDWTGxkNysGtI5XPnT0MFyamDuIerIl2V-j7l3upmN0pJDOSNoaAjLGEALw_wcB\" style=\"\">Mining World Conference 2024<\/a><\/span><span style=\"font-weight:400;\">, London, UK.<\/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>2025:<\/span><span> The InterAcademy Partnership assembly<\/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>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 style=\"font-weight:400;\"> 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:400;\">Mid-2025: The Administrative Capital for Urban Developments to roll out the second phase of offering industrial plots to investors. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20 January-7 February: Egypt to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f9a5a94-cc1c-4fc1-b8c6-7c02d15cae3b\/ramadan-kareem\" style=\"\">host the African Games<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2027: Trial operations at the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52aa0e65-5b6f-4c84-aa49-70ac4152bb87\" style=\"\">Dabaa nuclear power plant<\/a><\/span><span style=\"font-weight:400;\"> expected to take place.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>New freezone | Elmawkaa acquisition | Bumper earnings | Energy planning committee.<\/p>\n","protected":false},"featured_media":654317,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-654316","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"a428aca2-1d6e-401a-be8a-d7afe5273fd3","teaser":"New freezone | Elmawkaa acquisition | Bumper earnings | Energy planning committee.","photo_url":"https:\/\/ent.news\/2024\/10\/2815.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>IMF boss is coming to town next week - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/imf-boss-is-coming-to-town-next-week\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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