{"id":654666,"date":"2024-11-06T04:00:00","date_gmt":"2024-11-06T04:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=654666"},"modified":"2025-12-18T01:07:19","modified_gmt":"2025-12-18T01:07:19","slug":"the-fourth-review-of-egypts-imf-loan-program-is-well-underway","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/the-fourth-review-of-egypts-imf-loan-program-is-well-underway\/","title":{"rendered":"The fourth review of Egypt\u2019s IMF loan program is well underway"},"content":{"rendered":"<section id=\"654668\" 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=\"654668\">\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\/11\/06\/egypt-wants-to-attract-usd-4-bn-in-renewable-investments-next-year\/\">\r\n                            Egypt wants to attract USD 4 bn in renewable investments next year                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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class=\"content-area-description single-story post-654668 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-renewables 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\/11\/.26d93e86-075d-495e-b851-9f92486b889a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good m<\/strong><strong>orning, all. <\/strong>We have a busy issue for you this morning as we sit tight awaiting the results of the US presidential race. <\/p><p class=\"tag-border-left\">WATCH THIS SPACE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- Egypt eyes USD 4 bn in renewable investments next year:<\/strong> The Madbouly government is looking to attract some USD 4 bn in foreign investments in the country\u2019s renewable energy sector next year, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/11\/05\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B3%D8%AA%D9%87%D8%AF%D9%81-%D8%AC%D8%B0%D8%A8-4-%D9%85%D9%84%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D9%81%D9%8A-%D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D8%A7%D9%84%D9%85%D8%AA%D8%AC%D8%AF%D8%AF%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%85-%D8%A7%D9%84%D9%85%D9%82%D8%A8%D9%84\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reports, citing unnamed government sources. The government\u2019s plan has been presented to firms from countries that include Japan, France, China, Germany, Italy, Spain, and the US, with meetings set to take place with company representatives before year-end, the publication reports.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The gov\u2019t is keen on private sector-led investment in the sector:<\/strong> Sources at the Electricity Ministry previously <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fb85bbae-8f80-471f-87c7-8176bb9344d2\/the-roadmap-to-adding-28-gw-of-renewable%253cmark%253e-energy%253c%2Fmark%253e-to-egypt%25e2%2580%2599s%253cmark%253e-energy%253c%2Fmark%253e-mix-%25e2%2580%2594-part-ii\" style=\"\" rel=\"noopener\">told<\/a> EnterpriseAM that expanding the country\u2019s renewable energy profile and encouraging private sector investment in the sector is at the top of its list of priorities for the coming period. The government sees renewable energy making up <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9c204253-74bf-4487-ae7d-62ae0cb51bb5\/breaking-down-the-new-cabinet%25e2%2580%2599s-green-goals\" style=\"\" rel=\"noopener\">18.6% of Egypt\u2019s total energy mix<\/a> by FY 2026-27, up from 11.5% during the past fiscal year.<\/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- SCZone plans USD 3 bn infrastructure investment:<\/strong> The Suez Canal Economic Zone (SCZone) plans to invest USD 3 bn on infrastructure projects over the coming few years as it looks to attract investors, SCZone head Walid Gamal El Din told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/companies\/2024\/11\/05\/%D9%85%D8%B3%D8%A4%D9%88%D9%84-%D8%A7%D9%84%D9%85%D9%86%D8%B7%D9%82%D8%A9-%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D8%A9-%D9%84%D9%82%D9%86%D8%A7%D8%A9-%D8%A7%D9%84%D8%B3%D9%88%D9%8A%D8%B3-%D8%AA%D8%AA%D8%AC%D9%87-%D9%84%D9%84%D8%AA%D9%88%D8%B3%D8%B9-%D8%B3%D8%B1%D9%8A%D8%B9%D8%A7\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. The investment will mirror the USD 3 bn invested over the past few years. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Among the new projects: A desalination plant:<\/strong> The authority is developing a new desalination facility in AIn Sokhna dedicated to shared utilities for green hydrogen project, Gamal El Din said. The first phase of the project will produce around 250k cubic meters per day. The authority will soon launch a tender for the project and construction should take 2-4 years.<\/p><p class=\"tag-border-left\">IN THE HOUSE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#1- MPs approve amendments to tax dispute resolution: <\/strong>The House of Representatives approved a government-drafted bill to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e00fcdb-da81-4a99-a850-299759b8e681\/imf-boss-is-in-town-for-talks-with-el-sisi,-madbouly,-abdalla\" style=\"\" rel=\"noopener\">extend the window<\/a> for settling tax disputes until 30 June 2025, with Parliamentary Affairs Minister Mahmoud Fawzy adding that the government could extend the deadline further if necessary. The law will now head to President Abdel Fattah El Sisi for ratification. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Kouchouk outlines Finance Ministry priorities: <\/strong>Finance Minister Ahmed Kouchouk presented his ministry\u2019s priorities until 2030 to MPs, including building trust between the Tax Authority and business community, enforcing fiscal discipline, reducing the public debt \u2014 pushing the debt-to-GDP ratio to 85% this fiscal year \u2014 and supporting the social safety net. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cleaner drive ahead<\/strong><strong>?<\/strong> Kouchouk also told MPs that the government is currently looking into a new initiative that aims to replace gasoline-fired car engines with electric motors or dual-fuel engines that primarily use natural gas.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Preliminary approval of the draft <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/40e95638-fc8d-49f5-97f7-86fecef6cb40\/it%25e2%2580%2599s-blackout-decision-time-for-the-oil,-electricity-ministries\" style=\"\" rel=\"noopener\">Criminal Procedures Law<\/a><\/strong><strong> has been delayed <\/strong>to allow more MPs to discuss and contribute to the bill. The House will reconvene on 17 November to continue discussions.<\/p><p class=\"tag-border-left\">HAPPENING TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>It\u2019s day three of the World Urban Forum: <\/strong>The UN\u2019s World Urban Forum \u2014 which kicked off Monday and will run until Friday in Cairo \u2014 is entering its third day today, with the Egyptian government co-sponsored event featuring discussions and workshops aimed at reshaping urban policies and fostering sustainable, inclusive cities for the future. Check out today\u2019s <a target=\"_blank\" href=\"https:\/\/wuf.unhabitat.org\/programme?date=2024-11-04\" style=\"\" rel=\"noopener\">agenda<\/a> via the link available on the event\u2019s official website.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Day two of the forum saw Planning, Economic Development, and International <\/strong><strong>Cooperation Minister Rania Al Mashat<\/strong> discussing Egyptian-German cooperation with parliamentary state secretary for Germany\u2019s Economic Cooperation and Development Ministry Niels Annen during the inauguration of Germany\u2019s pavilion, according to a ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02TkZkTDHt9vnHYTsNbSqfsJFZNihuTe3RzWoHQ471BtFPvnRWxhN1qJkvuUdRwKLFl\" style=\"\" rel=\"noopener\">statement<\/a>. The two sides are scheduled to meet at the end of November in Berlin to identify priority projects for fiscal years 2024-26.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s another cool day in Cairo<\/strong>, with a high of 26\u00b0C and a low of 18\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 almost as cold in Alexandria<\/strong>, with a high of 25\u00b0C and a low of 20\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p class=\"tag-border-left\">DEBT WATCH-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>CBE sells more than EUR 600 mn in t-bills in oversubscribed issuance:<\/strong> The Central Bank of Egypt sold EUR 642.8 mn in one-year EUR-denominated t-bills in an auction yesterday at an average yield of 3.5%, according to its <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/auctions\/eur-t-bills\" style=\"\" rel=\"noopener\">website<\/a>. The EUR 600 mn issuance was over 1.5x oversubscribed, receiving a total of 28 bids worth EUR 922.8 mn. The issuance is set to replace <a target=\"_blank\" rel=\"noopener\">EUR 657 mn<\/a> in maturing one-year bills with an average yield of 4%.<\/p><p class=\"tag-border-left\">HAPPENING TOMORROW- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Go<\/strong><strong>v\u2019t to launch the National Decentralization Strategy on Thursday:<\/strong> The Madbouly government is set to announce its National Decentralization and Local Administration Enhancement Strategy tomorrow, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/11\/04\/1839944\" style=\"\" rel=\"noopener\">Al Borsa<\/a> quotes Deputy Local Development Minister Hisham El Helbawy as saying. The deputy minister\u2019s comments came during a session on local governance at the World Urban Forum on Monday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Three pillars to empower local gov\u2019t: <\/strong>The strategy will focus on strengthening local and urban development, fostering private sector partnerships, and ensuring the fair distribution of financial resources, with El Helbawy expressing hope that the measures will empower local administrations to act as a bridge between citizens and the state, ultimately pushing forward innovative solutions to development problems.<\/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>Turkish auto and construction delegations to visit Egypt:<\/strong> Turkey\u2019s <a target=\"_blank\" href=\"https:\/\/www.osd.org.tr\/corporate\/about-us\" style=\"\" rel=\"noopener\">Automotive<\/a><a target=\"_blank\" href=\"https:\/\/www.osd.org.tr\/corporate\/about-us\" style=\"\" rel=\"noopener\">Manufacturers Association<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.google.com\/url?sa=t&amp;source=web&amp;rct=j&amp;opi=89978449&amp;url=https:\/\/www.tmb.org.tr\/en&amp;ved=2ahUKEwj6j8XiucaJAxUAUaQEHXFXCYcQFnoECBsQAQ&amp;usg=AOvVaw26zMXOgBd5qiYJYtp6TPGw\" style=\"\" rel=\"noopener\">Turkish Contractors Association<\/a> will visit Egypt in 1Q 2025 following an invitation from Investment Minister Hassan El Khatib, during his <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d4050e5e-01ca-4c98-990a-a60413f8ea92\/\" style=\"\" rel=\"noopener\">visit to Turkey this week<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0nWr11FmJdT57YLFK2jRKfuALBP5Nuegw4cX95T3aQdhvfnk364jHarSEvw9qyLipl?rdid=ffSIbwI2fx9rAdbf#\" style=\"\" rel=\"noopener\">ministry statement<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>No surprises here:<\/strong> Election Day in the US is fully dominating news coverage in the international press this morning, as polls close and the ballot counting continues. The counting is likely to take several days, particularly as this year\u2019s elections are closely contested and several states are \u201ctoo close to call\u201d and likely to hinge on the results from the country\u2019s seven swing states \u2014 Georgia, North Carolina, Pennsylvania, Arizona, Michigan, Nevada, and Wisconsin. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know so far:<\/strong> Donald Trump is so far in the lead, with victories in Texas and Florida \u2014 each of which have a large number of electoral votes \u2014 as well as a smattering of other states. Kamala Harris has secured a victory so far in Washington, D.C., Vermont, and Massachusetts, among others. Trump is looking likely to secure the overall vote, although Harris still has a path to victory if she manages to come out on top in Pennsylvania, Michigan, and Wisconsin. Meanwhile in the Senate, the Republican Party has so far gained a seat and is closing in on a majority. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You can check out live results<\/strong> from the <a target=\"_blank\" href=\"https:\/\/apnews.com\/live\/trump-harris-election-updates-11-5-2024\" style=\"\" rel=\"noopener\">Associated Press<\/a>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/graphics\/USA-ELECTION\/RESULTS\/zjpqnemxwvx\/\" style=\"\" rel=\"noopener\">Reuters<\/a>, the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2024\/11\/05\/us\/trump-harris-election\" style=\"\" rel=\"noopener\">New York Times<\/a>, the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/trump-harris-election-day-results-2024\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>. The <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/3122eb74-e942-4209-a5ce-d150b2ca5692\" style=\"\" rel=\"noopener\">Financial Times<\/a> and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-05\/us-election-results-2024-when-will-we-know-who-won\" style=\"\" rel=\"noopener\">Bloomberg<\/a> also have coverage.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN NON-ELECTION NEWS- Israeli Prime Minister Benjamin Netanyahu fired Defense <\/strong><strong>Minister Yoav Gallant<\/strong> and appointed Israel Katz \u2014 who was foreign minister \u2014 in his stead. Gideon Saar is now Israel\u2019s foreign minister in Katz\u2019s place. Netanyahu\u2019s decision to fire Gallant \u2014 a move he was reportedly considering for weeks \u2014 is due to the two disagreeing on critical issues, including Gallant supporting a ceasefire and hostage release agreement with Hamas in Gaza. The former defense minister was also pressing for an investigation into the country\u2019s security failures in Hamas\u2019 7 October attack, and opposes a law that would allow ultra-Orthodox Jews to be exempt from mandatory military service. <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israeli-airstrikes-kill-least-30-palestinians-gaza-medics-say-2024-11-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a>, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/82920eec-a4d0-4cbf-a0b2-599ae44091aa\" style=\"\" rel=\"noopener\">Financial Times<\/a>, <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2024\/11\/05\/israel-netanyahu-fires-defense-minister-gallant\" style=\"\" rel=\"noopener\">Axios<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-05\/israel-s-netanyahu-fires-defense-minister-over-war-disagreements\" style=\"\" rel=\"noopener\">Bloomberg<\/a> have the story.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2503.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We talk to Algammal for Contracting Vice President Mohamed Farouk Hafeez to learn more about the company\u2019s plans to set up three industrial complexes in Saudi Arabia, Libya, and Iraq.<\/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\/renewables\/\">renewables<\/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=\"654670 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=\"654670\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/654670\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654670\" class=\"content-area-description single-story post-654670 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\/ads\/imgs\/318.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Discover the essence of paradise at Somabay: <\/span><span>Join us at the World Travel Market in London, <\/span><span style=\"font-weight:700\">Stand #S12-200<\/span><span style=\"font-weight:400;\"> from November 5-7, 2024.<\/span><\/p>\n<p><span>Let&rsquo;s connect and explore the experiences that make Somabay a world class destination. From pristine beaches to exhilarating sports, we can&rsquo;t wait to share the beauty of Somabay with you.<\/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=\"654671\" 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=\"654671\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/imf-begins-its-fourth-review-of-egypts-usd-8-bn-program\/\">\r\n                            IMF begins its fourth review of Egypt\u2019s USD 8 bn program                        <\/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\/11\/06\/imf-begins-its-fourth-review-of-egypts-usd-8-bn-program\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            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data-attachment-id=\"654672\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/imf-begins-its-fourth-review-of-egypts-usd-8-bn-program\/474-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/474.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"474.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/474.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/474.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654671\" class=\"content-area-description single-story post-654671 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-debt tag-economy tag-enterpriseam tag-imf 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\/.2f7f1723-c62b-4a18-8231-923ec7155373.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>IMF kicks off its fourth review of the country\u2019s loan program: <\/strong>An International Monetary Fund mission has begun its long-awaited <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> of Egypt\u2019s USD 8 bn loan program, which if successfully completed would unlock USD 1.3 bn in funds \u2014 the biggest of the four tranches Egypt has received from the program to date, a high-ranking government official told EnterpriseAM. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The Fund <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b783a33c-54f4-403e-bbb3-d45168e55bab\" style=\"\" rel=\"noopener\">completed its third review<\/a> of the country\u2019s loan program in late July and the USD 820 mn tranche landed in state coffers just days later. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s on the agenda?<\/strong> The Fund will conduct visits to the ministries involved in the implementation of the program to assess progress made on the financial and economic fronts, as well as its social impact. Exchange rate flexibility will be discussed with the Central Bank of Egypt, with social protection efforts also on the Fund\u2019s agenda, the source said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGP\u2019s stability in the face of regional tension has raised questions: <\/strong>Investors have reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e00fcdb-da81-4a99-a850-299759b8e681\/imf-boss-is-in-town-for-talks-with-el-sisi,-madbouly,-abdalla\" style=\"\" rel=\"noopener\">been pressing the IMF for an explanation<\/a> regarding the EGP\u2019s stability amid regional shocks and in light of Egypt\u2019s pledges to maintain a flexible exchange rate. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It has been a tough week for the EGP<\/strong>, which started the week at 49.03 against the greenback and is now going for 49.21, according to the central bank\u2019s exchange rate. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The review and talks to adjust the program are likely to proceed separately:<\/strong> The fourth review is likely to be separate from talks that aim to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f6a461ee-cdfc-4359-acbe-2c15eb7c414f\/%253cmark%253eimf%253c%2Fmark%253e-boss-is-visiting-next-week-ahead-of-fourth-review\" style=\"\" rel=\"noopener\">revise the timeline and targets<\/a> of reforms previously agreed upon with the Fund, another informed source told us. The IMF will, however, consider requests to change timelines and targets as the review takes place over the next two weeks.<\/p>\n<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 last 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 IMF managing director Kristalina 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>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The priorities for the review:<\/strong> Georgieva mentioned during a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e87edcab-809e-4fa8-ae73-201d4df2dbf0\/imf-to-begin-egypt%25e2%2580%2599s-fourth-loan%253cmark%253e-review%253c%2Fmark%253e-tomorrow-%2B-more-from-imf-head%25e2%2580%2599s-visit\" style=\"\" rel=\"noopener\">presser<\/a> attended by EnterpriseAM this week the main areas that will be subject to discussions during the review, including helping Egypt achieve greater economic stability and lower inflation, increasing private sector growth, and supporting Egyptian objectives in the green economy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s already been a considerable shift in policy:<\/strong> There\u2019s an ongoing transformation in how officials are managing fiscal and monetary policy, one source told us, adding that it has reorganized its spending priorities and its management of public debt \u2014 especially domestic debt \u2014 amid the significant challenges posed by high interest rates. The public debt strategy has consequently undergone comprehensive changes since the beginning of the current fiscal year, leading to significantly reduced debt service payments, the source said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong>Egypt\u2019s debt service bill dipped <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e8df1e3-c593-48a6-8481-3f1c88f84c1f\/egypt%25e2%2580%2599s-budget-deficit-narrows-to-2.2%2525-during-1q-of-fy-2024-25\" style=\"\" rel=\"noopener\">(5.4% y-o-y<\/a> in 1Q 2024-25, contributing to a decline in the budget deficit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Giving improved tax collection its fair due:<\/strong> The new debt strategy has been supported by the government\u2019s digital transformation and automation efforts, which have collectively boosted tax revenues, the source added.<\/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\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/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=\"654673\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF 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               <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/egypts-non-oil-private-sector-activity-continues-to-contract-on-the-back-of-rising-price-pressures\/\">\r\n                            Egypt\u2019s non-oil private sector activity continues to contract on the back of rising price pressures                        <\/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\/11\/06\/egypts-non-oil-private-sector-activity-continues-to-contract-on-the-back-of-rising-price-pressures\/\" 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/472.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"472.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/472.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/472.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654674\" class=\"content-area-description single-story post-654674 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-pmi tag-sp 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\/.c44cf21b-7077-470f-a225-557b4d858dae.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>On the up, but still in the red:<\/strong> Egypt\u2019s non-oil private sector activity contracted for the second consecutive month in October, S&P Global\u2019s most recent <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/354.pdf\" style=\"\" rel=\"noopener\">Purchasing<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/354.pdf\" style=\"\" rel=\"noopener\">Managers<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/354.pdf\" style=\"\" rel=\"noopener\">Index (PMI) (pdf)<\/a> report showed. The decline was driven by rising price pressures \u2014 driven by higher costs of raw materials and utilities \u2014 that dampened new order volumes across the board.<\/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>By the numbers:<\/strong> October\u2019s index reading rose to 49.0 from the previous month\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/19e60e04-922b-4f69-ac6a-3002ab4f6a11\/egypt%e2%80%99s-non-oil-private-sector-activity-falls-back-into-contraction-territory-amid-persistent-inflation\" style=\"\" rel=\"noopener\">48.8<\/a>, leaving us just below the 50.0 mark that separates growth from contraction. This marks our second month in the red since <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/32fe05be-c843-4ccd-9e99-d5fb997ce85d\/egypt%e2%80%99s-non-oil-private-sector-activity-grows-after-three-years-in-contraction\" style=\"\" rel=\"noopener\">August\u2019s<\/a> reading of 50.4 \u2014 the first time our PMI reading had broached the threshold into growth since November 2020.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A stronger USD and high input prices drove the fall: <\/strong>Rising costs of imported inputs drove the trend, according to the report, with a stronger USD highlighted as the main culprit. However, input cost inflation rose at a slower pace than September\u2019s six-month high and at the slowest pace since July \u2014 a possible indication that we might soon see the tail-end of input cost inflation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A drop across the board \u2014 with construction taking the biggest hit:<\/strong> Surveyed companies reported overall declining sales due to weak market conditions and higher prices, with construction firms seeing the largest drop in activity and sales.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a more positive note, hiring was up:<\/strong> Despite the contraction in overall business activity, employment rose for the fourth straight month, with job creation growing at its fastest rate since May. Total input purchases also fell for the first time since August, easing pressures on supply chains.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A positive outlook, with confidence concerns:<\/strong> Non-oil private sector activity is expected to increase in the coming 12 months, with S&P Global Market Intelligence senior economist David Owen noting that \u201cwith the PMI at 49.0 points in October, Egypt's non-oil economy is not too far from growing again.\u201d That being said, businesses are not confident about the year ahead, with the report saying that the relevant index had dropped to \u201cone of its lowest readings in the survey\u2019s history.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ELSEWHERE IN THE REGION-<\/strong><\/p>\n<ul>\n<li>Saudi Arabia\u2019s PMI rose to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/364.pdf\" style=\"\" rel=\"noopener\">56.9 in October (pdf)<\/a>, up from 56.3 in September. <\/li>\n<li>UAE\u2019s PMI rose to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/365.pdf\" style=\"\" rel=\"noopener\">54.1 in October (pdf)<\/a>, up from 53.8 in September. <\/li>\n<li>Kuwait\u2019s PMI rose to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/366.pdf\" style=\"\" rel=\"noopener\">52.7 in October (pdf)<\/a>, up from 50.3 in September.<\/li>\n<li>Qatar\u2019s PMI rose to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/425.pdf\" style=\"\" rel=\"noopener\">52.8 in October (pdf)<\/a>, up from 51.7 in September.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span 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data-attachment-id=\"654677\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/kemet-data-center-secures-land-under-usufruct-agreement\/470-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/470.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"470.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/470.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/470.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654676\" class=\"content-area-description single-story post-654676 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-data-centers tag-enterpriseam tag-honeywell tag-intro-group tag-investment-watch tag-manufacturing tag-sczone 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\/.b9e33d55-8a21-42d6-89c2-773485174200.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>SCZone inks land usufruct agreement for Kemet Data Center:<\/strong> The Suez Canal Economic Zone (SCZone) signed a land usufruct agreement with Intro Group that gives it access to a plot in the Sokhna Industrial Zone to set up the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bf40d6de-ef5c-4da4-a460-91ac497186b4\/intro-tech-and-oman-data-park-to-establish-usd-450-mn-data-center-in-egypt%e2%80%99s-sczone\" style=\"\" rel=\"noopener\">USD 450 mn Kemet Data Center<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0qdb47SDDF4EWJVYhemG6qMwjGBdsaqD4wWKHDZAPsmGGiify9YhByL8UUXRZ8CGzl?locale=ar_AR\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fresh details emerge: <\/strong>During a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0rSSSmcddMQ5wsmfWvaEKykRkpgMjExHeBSBnNZkmK39JQ9ZZaEWTHHxHFuSXA6Mml\" style=\"\" rel=\"noopener\">meeting with<\/a><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0rSSSmcddMQ5wsmfWvaEKykRkpgMjExHeBSBnNZkmK39JQ9ZZaEWTHHxHFuSXA6Mml\" style=\"\" rel=\"noopener\">Prime Minister Moustafa Madbouly<\/a>, Intro Group representatives said that the project will be expanded to include four phases each with a capacity of 20 MW, pushing its price tag at USD 1 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And we have a completion date: <\/strong>The project is expected to be fully completed by the end of 2030, Madbouly said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An export-oriented center: <\/strong>The project will target exporting cloud solutions and digital services to markets abroad, specifically in the Middle East and Africa. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Opening the door for more data centers:<\/strong> Madbouly noted that Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d58985e2-86bd-408d-95fd-0ea83d7421a5\/sczone-eyes-usd-60-mn%253cmark%253e-data%253c%2Fmark%253e-center-project-partnership-with-private-sector.-plus:-spe-capital,-valu-%2B-majid-al-futtaim,-tatweer-misr,-cushman-&-wakefield\" style=\"\" rel=\"noopener\">remains interested<\/a> in attracting greater investment in data centers through simpler procedures, more incentives, and a better-equipped workforce<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- We first heard about the big-ticket project back in September<\/strong>, after Intro Technology signed a MoU with Omani data center leader Oman Data Park to establish the Kemet Data Center on 80k sqm in the SCZone. The partially solar-powered center will serve large companies looking for cost-effective and advanced cloud solutions, Internet of Things (IoT), and digital transformation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also onboard: <\/strong>Data center engineering leader Sterling and Wilson Data Center will <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e47e25a4-9c68-4f9e-84fe-e6fa6a538116\/beni-suef,-sharqia-are-getting-egp-4.8-bn-worth-of-projects.-plus:-news-from-giz,-egyfert,-madinet-masr,\" style=\"\" rel=\"noopener\">act as the<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e47e25a4-9c68-4f9e-84fe-e6fa6a538116\/beni-suef,-sharqia-are-getting-egp-4.8-bn-worth-of-projects.-plus:-news-from-giz,-egyfert,-madinet-masr,\" style=\"\" rel=\"noopener\">project\u2019s EPC contractor<\/a>, overseeing design, budgeting, timeline management, and systems testing and accreditation. The firm will also maintain the facility for 3-5 years after the project\u2019s completion.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MANUFACTURING HONEYWELL LIGHTING PRODUCTS LOCALLY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Siraj Lightning to manufacture Honeywell Lighting products locally: <\/strong>Egypt\u2019s <a target=\"_blank\" href=\"https:\/\/www.sirajlighting.com\/\" style=\"\" rel=\"noopener\">Siraj<\/a><a target=\"_blank\" href=\"https:\/\/www.sirajlighting.com\/\" style=\"\" rel=\"noopener\">Lighting<\/a> signed a USD 15 mn agreement with electric lighting equipment manufacturer <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/vesra\/\" style=\"\" rel=\"noopener\">Vesra<\/a> \u2014 a Honeywell authorized licensee \u2014 to produce Honeywell lighting products in its factory in the the Suez Canal Economic Zone (SCZone), according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid022788esoTmDRLM68nPxN9E8iCD89EssjLG3fHfDwN7rWwWoaueyrAVyFwMpYL2cudl?locale=ar_AR\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> Siraj will be producing indoor and outdoor lighting for use in commercial, residential, and industrial settings, with plans to export 30% of output during the first phase of the project. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lowering the import bill:<\/strong> The project will create new jobs, foster economic growth, and increase exports, Prime Minister Moustafa Madbouly said at the agreement\u2019s signing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Earlier this week we ran an <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d3fdb838-5768-4201-8be9-a6cdc8b3aa29\/a-deep-dive-into-egypt%25e2%2580%2599s%253cmark%253e-localization%253c%2Fmark%253e-efforts\" style=\"\" rel=\"noopener\">Inside Industry<\/a><\/strong><strong> on Egypt\u2019s efforts<\/strong> t<strong>o localize 152 <\/strong><strong>industries <\/strong><strong>by 2030<\/strong> through offering support for factories and improving the technical capabilities of industry.<\/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\">TWO TURKISH COMPANIES LOOKING TO SET UP SHOP IN EGYPT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>USD 360 mn worth of Turkish investments? <\/strong>One Turkish ready-made garments maker is looking to invest USD 160 mn to set up a factory in the Tenth of Ramadan and another is looking to set up a USD 200 mn furniture factory in Damietta\u2019s freezone, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0nWr11FmJdT57YLFK2jRKfuALBP5Nuegw4cX95T3aQdhvfnk364jHarSEvw9qyLipl?rdid=ffSIbwI2fx9rAdbf#\" style=\"\" rel=\"noopener\">statement<\/a>. This came during Investment Minister Hassan El Khatib <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d4050e5e-01ca-4c98-990a-a60413f8ea92\/\" style=\"\" rel=\"noopener\">visit to Turkey<\/a> aimed at boosting trade and investment relations between the two nations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That\u2019s not all: <\/strong>A Turkish retail player told Al Khatib that it is looking to expand its Egyptian footprint, setting up an additional 600 branches on top of its already existing 400. <\/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\/data-centers\/\">Data Centers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/honeywell\/\">Honeywell<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/intro-group\/\">Intro Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sczone\/\">SCZone<\/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=\"654678\" 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=\"654678\">\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\">A MESSAGE FROM AUC SCHOOL OF BUSINESS EXECUTIVE EDUCATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/auc-school-of-business-and-afreximbank-join-forces-to-boost-african-trade\/\">\r\n                            AUC School of Business and Afreximbank join forces to boost African trade                        <\/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\/11\/06\/auc-school-of-business-and-afreximbank-join-forces-to-boost-african-trade\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The partnership aims to support African trade while providing innovative educational solutions to tackle complex trade challenges.\u2019<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kicking off in 2023, the collaboration between ExecEd and Afreximbank introduced the Certificate of Trade Finance in Africa (COTFIA). <\/strong>COTFIA equips participants with deep insights into the dynamic opportunities and challenges of the African economic landscape. By blending academic knowledge with practical applications, COTFIA addresses the specific priorities of African entrepreneurs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>To date, over 95 participants from 19+ countries in the continent have joined the program<\/strong>, spanning various sectors. The program\u2019s hybrid format \u2014 blending virtual and in-person sessions \u2014 enhanced accessibility and flexibility, enabling a broad range of participants to benefit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This September, the partnership soared to new heights with the launch of \u201c<\/strong><strong>AfCFTA: Its Genesis, Dimensions and Prospects,\u201d<\/strong> centering on the African Continental Free Trade Area Agreement (AfCFTA). This new initiative empowers African entrepreneurs to seize the opportunities offered by AfCFTA.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yemi Kale, the group chief economist and managing director of research at Afreximbank,<\/strong> stated, \u201cThrough this training program, we aim to empower African businesses to fully exploit the vast opportunities created by the AfCFTA, thereby enhancing their competitiveness and contributing to sustainable economic growth in Africa.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The collaboration between the AUC School of Business ExecEd and Afreximbank falls in line with Egypt\u2019s goal to strengthen trade capabilities within the country and across Africa.<\/strong> Through this partnership, the program fosters practical knowledge and strategic insights, ensuring that initiatives like AfCFTA create lasting economic benefits across the country.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Christian Kamga, Chief Executive Officer of ED SARL in Cameroon<\/strong>, highlighted, \u201cThe [first] session was interesting, and I was also very happy with the way the team here at AUC School of Business welcomed us and made this a great experience.\u201d Mohammad Abdullah, Managing Partner at MIS Egypt added: \u201cThis is an exciting opportunity to connect Egyptian companies with their counterparts across the continent.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">For more information on our diverse range of banking, trade, and finance programs, please visit: <a target=\"_blank\" href=\"https:\/\/business.aucegypt.edu\/execed\/individual-programs\/banking-and-finance\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/business.aucegypt.edu\/execed\/individual-programs\/banking-and-finance\" style=\"\" rel=\"noopener\">https:\/\/business.aucegypt.edu\/execed\/individual-programs\/banking-and-finance<\/a> <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/a-message-from-auc-school-of-business-executive-education\/\">A MESSAGE FROM AUC SCHOOL OF BUSINESS EXECUTIVE EDUCATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/auc\/\">AUC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"654680 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=\"654680\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/654680\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654680\" class=\"content-area-description single-story post-654680 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=\"654681\" 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=\"654681\">\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\/11\/06\/foreign-minister-badr-abdelatty-calls-for-renewed-two-state-solution\/\">\r\n                            Foreign Minister Badr Abdelatty calls for renewed two-state solution                        <\/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\/11\/06\/foreign-minister-badr-abdelatty-calls-for-renewed-two-state-solution\/\" 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\" 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size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"654682\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/foreign-minister-badr-abdelatty-calls-for-renewed-two-state-solution\/468-jpg-24\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/468.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"468.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/468.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/468.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654681\" class=\"content-area-description single-story post-654681 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-enterpriseam tag-middle-east-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.acceef86-e21d-481c-93a4-bf68815ca789.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>In a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.washingtontimes.com\/news\/2024\/nov\/4\/two-state-solution-possible-israel-palestinians\/\" style=\"\" rel=\"noopener\">Washington Times<\/a><\/strong><strong> op-ed, Foreign Minister Badr Abdelatty called for an <\/strong><strong>independent Palestinian state as part of a two-state solution<\/strong>, urging the international community to support Palestinian self-determination. The FM condemned Israel\u2019s \u201ccontinued occupation, annexation, targeted assassinations, use of force and uninterrupted construction of illegal settlements across the occupied Palestinian territories with constant acts of violence from settlers,\u201d saying that Israel\u2019s \u201cshortsighted and misguided approach\u201d to guaranteeing its security through the use of force had not and would not yield results. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The only solution<\/strong>, Abdelatty stressed, is one that addresses the occupation\u2019s root causes by providing Palestinians with hope and dignity through sovereign self-rule. He highlighted Egypt\u2019s role in Middle East peace efforts, calling on the international community to continue pursuing the two-state solution so as to \u201cspare future Palestinian and Israeli generations the scourge of war and terror.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Egypt joins 52 states calling for a halt in arms delivery to Israel:<\/strong> Egypt has backed a letter addressed to the UN Secretary General, the President of the Security Council, and the President of the General Assembly, pushing for halting exports of arms that could be used against Palestinians in occupied territories to Israel, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02X6jw5ZDAoAzaNjVrY1XA43KBEXrTfxYxdJzoYhfSo4ATXawRn9JpUFRWDdVoCAoZl\" style=\"\" rel=\"noopener\">statement<\/a> from the Foreign Ministry on Tuesday. The letter, which has the backing of 52 countries, is also supported by the Arab League and the Organization of Islamic Cooperation.<\/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\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"654683\" 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=\"654683\">\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\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/\">\r\n                            Eastern Company hikes cigarette prices for the fourth time this year                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/\" 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\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/')\">\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\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/\">\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=Eastern Company hikes cigarette prices for the fourth time this year. PLUS: News from Palm Hills, Misr Petroleum, GASC&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/\">\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\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/&title=Eastern Company hikes cigarette prices for the fourth time this year. PLUS: News from Palm Hills, Misr Petroleum, GASC\">\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=Eastern+Company+hikes+cigarette+prices+for+the+fourth+time+this+year.+PLUS%3A+News+from+Palm+Hills%2C+Misr+Petroleum%2C+GASC+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F06%2Feastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc%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\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/466.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"654684\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/466-jpg-21\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/466.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"466.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/466.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/466.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654683\" class=\"content-area-description single-story post-654683 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-debt tag-eastern-company tag-enterpriseam tag-gasc tag-logistics tag-manufacturing tag-mining tag-oil-and-gas tag-palm-hills-developments tag-real-estate tag-startups tag-taaleem tag-tobacco wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.7b6fd877-a526-434d-b2a6-4931824b4017.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">RETAIL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Eastern Company hikes prices for the fourth time this year:<\/strong> EGX-listed tobacco giant Eastern Company on Tuesday hiked prices of its cigarettes by up to EGP 5, after the company\u2019s board approved the decision, according to a statement seen by EnterpriseAM. The price of all its 20-cigarette packs, including Cleopatra, now stands at EGP 38.75, while its higher-end Viceroy and Pall Mall now sell for EGP 60 a pack. The Box 10 \u2014 the pack including 10 cigarettes \u2014 now costs EGP 27. This marks the fourth hike the company imposed in 2024, following the latest hike implemented in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8cb26e12-ed0f-4103-970e-274dc13bab2b\/\" style=\"\" rel=\"noopener\">July<\/a> to comply with the Universal Health Ins. Law, and two other hikes in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/42608e1b-14da-4fba-8e1f-3025ff7d1a2e\/\" style=\"\" rel=\"noopener\">April<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c6917ee5-d671-4da3-8343-001eb83e356f\/\" style=\"\" rel=\"noopener\">February<\/a>.<\/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 reason: <\/strong>The increase came in response to the Finance Ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c647b139-705c-4a7f-b101-4cde68005f07\/philip-morris-hikes-cigarette-prices-by-up-to-20%2525\" style=\"\" rel=\"noopener\">enacting the law that<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c647b139-705c-4a7f-b101-4cde68005f07\/philip-morris-hikes-cigarette-prices-by-up-to-20%2525\" style=\"\" rel=\"noopener\">allows companies to raise prices by 12% annually<\/a> without moving into a higher per-pack tax bracket, the head of the Federation of Egyptian Industries\u2019 tobacco division, Ibrahim Imbaby, told EnterpriseAM. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Eastern attributed the increase to <\/strong>a weakening EGP, higher input costs, and higher transport costs.<\/p><p class=\"tag-border-left\">M&amp;A-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- PHD purchases stake in Makor Hotels + Taaleem:<\/strong> Property development giant Palm Hills Developments\u2019 (PHD) general assembly has approved the purchase of a 9.5% stake in Makor Hotels from Mansour-Maghraby Investment and Development Company in a transaction valued at just under EGP 175.6 mn, the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/363.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The transaction brings PHD\u2019s total share in Makor Hotels to 69.5%. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PHD also approved a decision to purchase Palm Hills chairman and group CEO Yasseen <\/strong><strong>Mansour\u2019s entire stake in higher education outfit Taaleem<\/strong> in an EGP 1.9 bn transaction, the statement read. The transaction gives Palm Hills a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b86e132-5590-4a75-89fa-8cd5d21a149f\/palm-hills-to-snap-up-mansour%25e2%2580%2599s-29.6%2525-stake-in%253cmark%253e-taaleem%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">29.6% stake in Taaleem<\/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- Al Areej International Investment further reduces stake in Eastern Company:<\/strong> Al Areej International Investment sold another 20 mn shares in tobacco giant Eastern Company on Monday to an undisclosed Emirati buyer at EGP 25 a pop, bringing the total transaction value to EGP 500 mn, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a7%d9%84%d8%a3%d8%b1%d9%8a%d8%ac-%d8%a7%d9%84%d8%b9%d8%a7%d9%84%d9%85%d9%8a%d8%a9-%d8%aa%d9%82%d9%84%d8%b5-%d8%ad%d8%b5%d8%aa%d9%87%d8%a7-%d9%81%d9%89-%d8%a5%d9%8a%d8%b3\/\" style=\"\" rel=\"noopener\">A<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a7%d9%84%d8%a3%d8%b1%d9%8a%d8%ac-%d8%a7%d9%84%d8%b9%d8%a7%d9%84%d9%85%d9%8a%d8%a9-%d8%aa%d9%82%d9%84%d8%b5-%d8%ad%d8%b5%d8%aa%d9%87%d8%a7-%d9%81%d9%89-%d8%a5%d9%8a%d8%b3\/\" style=\"\" rel=\"noopener\">l M<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a7%d9%84%d8%a3%d8%b1%d9%8a%d8%ac-%d8%a7%d9%84%d8%b9%d8%a7%d9%84%d9%85%d9%8a%d8%a9-%d8%aa%d9%82%d9%84%d8%b5-%d8%ad%d8%b5%d8%aa%d9%87%d8%a7-%d9%81%d9%89-%d8%a5%d9%8a%d8%b3\/\" style=\"\" rel=\"noopener\">al<\/a> reports, citing sources in the know. This brings down the company\u2019s share in Eastern Company to 2.3% from 2.99% previously, by our math.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Al Areej announced on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/80f37051-1562-4420-98bb-e58e95e2e394\/cairo-housing%25e2%2580%2599s-bid-for-a-larger-stake-in-united-housing-moves-forward.-plus:-news-from-eastern-company,-evergrow,-gasc\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/80f37051-1562-4420-98bb-e58e95e2e394\/cairo-housing%25e2%2580%2599s-bid-for-a-larger-stake-in-united-housing-moves-forward.-plus:-news-from-eastern-company,-evergrow,-gasc\" style=\"\" rel=\"noopener\">Sunday<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/80f37051-1562-4420-98bb-e58e95e2e394\/cairo-housing%25e2%2580%2599s-bid-for-a-larger-stake-in-united-housing-moves-forward.-plus:-news-from-eastern-company,-evergrow,-gasc\" style=\"\" rel=\"noopener\"><\/a> that it had sold some 9 mn shares of its stake in Eastern Company to an undisclosed buyer in an EGP 225 mn transaction, bringing the company\u2019s stake in Eastern to 2.99% from 3.29%. The company holds another 30% stake in Eastern Company through its Global Investments Holding.<\/p><p class=\"tag-border-left\">ENERGY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The gov\u2019t is looking to work with Emirati IRH to transport LNG overseas:<\/strong> The Oil Ministry and Emirati mining firm <a target=\"_blank\" href=\"https:\/\/irh.ae\/\" style=\"\" rel=\"noopener\">International Resources Holding<\/a> (IRH) are in talks over the possibility of collaborating on liquefied natural gas trade and distribution in a bid to transport gas to foreign markets, according to a ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0EPikvWM4omfRBKDGME4hZURDGDyKUBtZh5PREpZRFBQVGMu5Bqrsphxd34yQFStMl\" style=\"\" rel=\"noopener\">statement<\/a>. The talks, which came on the sidelines of the ADIPEC 2024 conference in Abu Dhabi, also saw the two parties exploring areas of cooperation in the mining sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gov\u2019t to launch mining tender, portal:<\/strong> The Oil Ministry is gearing up to launch a tender for mineral exploration in several areas in the Western Desert, Oil Minister Karim Badawi said. The ministry also plans to officially launch a mining portal before the end of the year to stimulate investment in the sector following the portal\u2019s trial launch in July.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> It was reported back in July that the government would <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/179241f9-d98f-4163-8f84-1ed70cc00d93\/\" style=\"\" rel=\"noopener\">launch an international tender<\/a> for mineral exploration in Sinai, the Eastern Desert, and the Western Desert before the end of the year.<\/p><p class=\"tag-border-left\">MANUFACTURING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Minority stakes in two ACDIMA plants up for grabs:<\/strong> State-owned Arab Company for Drug Industries and Medical Appliances (ACDIMA) will offer investors stakes of up to 49% in a pharma raw materials plant with investments estimated at USD 150 mn and a glass production project with investments of at least USD 135 mn, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a3%d9%83%d8%af%d9%8a%d9%85%d8%a7-%d8%aa%d8%b7%d8%b1%d8%ad-%d9%86%d8%b3%d8%a8%d8%a9-%d8%aa%d8%b5%d9%84-%d8%a5%d9%84%d9%89-49-%d9%85%d9%86-%d9%85%d8%b4%d8%b1%d9%88%d8%b9%d9%89\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know about the pharma project: <\/strong>First <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/32d7e6cb-c928-48ce-8662-3542d7f62d69\/%253cmark%253eacdima%253c%2Fmark%253e-to-set-up-usd-165-mn-pharma-factory\" style=\"\" rel=\"noopener\">announced in September 2023<\/a>, the plant will produce 28 active substances used in the pharma industry. The first phase of the project will see Acdima set up production lines for 21 pharma raw materials and is set to start operations in 2026. The second is scheduled to come online in 2030.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One step closer to pharma industry localization: <\/strong>The company aims to dedicate 45% of production from the pharma materials plant to ACDIMA subsidiaries and 25% to local companies as part of the government\u2019s wider drug industry localization project, ACDIMA chairperson Olfat Ghorab told Al Mal. The remainder of the plant\u2019s production is set to be exported to neighboring countries, which Ghorab noted will assure the plant\u2019s future profitability.<\/p><p class=\"tag-border-left\">LOGISTICS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s planned ro-ro shipping line with Italy is almost here: <\/strong>The new ro-ro shipping line connecting Damietta Port with Italy\u2019s Port of Trieste will begin operations on 29 November, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02roqrtt2C3MTJ7aoec17HRRCyi3QoepD8WaJ1CGRjMsJmn8vX8iBEgMP2WJUfZABbl?locale=ar_AR\" style=\"\" rel=\"noopener\">statement<\/a>. The new line is part of the state\u2019s plan to transform Egypt into a regional hub for transportation, logistics, and transit trade, as well as to open new export markets for Egyptian agricultural commodities in Italy and Europe.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government has offered a number of incentives to support the project<\/strong>, including an 88% reduction in port fees and lowering road tolls to a flat rate of USD 100 per truck \u2014 in lieu of USD 300 per imported truck and USD 350 per exported truck.<\/p><p class=\"tag-border-left\">AGRICULTURE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Phase II of the Egyptian Cotton Project: <\/strong>The Madbouly government and the United Nations Industrial Development Organization (UNIDO) launched the second phase of the Italian Agency for Development Cooperation-funded <a target=\"_blank\" href=\"https:\/\/www.unido.org\/news\/unidos-egyptian-cotton-project-brings-together-key-stakeholders-egyptian-cotton-value-chain-advance-and-innovate-egyptian-cotton-industry\" style=\"\" rel=\"noopener\">Egyptian Cotton Project<\/a> which aims to boost sustainability across the local cotton value chain, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0bQqHAtTECKvpLrbyBvfJoeu16TymemVNnikYejVtL88Q5TQVqtN2nutWQ95npB7Kl\" style=\"\" rel=\"noopener\">statement<\/a>. The second phase of the project aims to introduce young cotton farmers to sustainable practices and employ the youth across the cotton value chain. The first phase of the project ran from 2018 to 2021.<\/p><p class=\"tag-border-left\">DEBT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Misr Petroleum secures EGP 10 bn syndicated loan: <\/strong>State-owned oil company Misr Petroleum secured an EGP 10 bn syndicated loan from nine banks, sources familiar with the matter told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d8%ae%d8%a7%d8%b5%d8%a7%d9%84%d9%85%d8%a7%d9%84-%d8%aa%d9%86%d8%b4%d8%b1-%d8%ad%d8%b5%d8%b5-9-%d8%a8%d9%86%d9%88%d9%83-%d8%b4%d8%a7%d8%b1%d9%83%d8%aa-%d9%81%d9%8a-%d8%aa%d8%af%d9%8a%d8%a8%d8%b1\/\" style=\"\" rel=\"noopener\">Al Mal<\/a>. The syndicate includes the National Bank of Egypt, CIB, QNB Alahli, Arab African International Bank (AAIB), Al Ahli Bank of Kuwait, Midbank, Banque du Caire, EG Bank, and the Agricultural Bank of Egypt.<\/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- El Attal is inching closer to its KSA debut: <\/strong>Real estate player <a target=\"_blank\" href=\"https:\/\/elattal.com\/home\" style=\"\" rel=\"noopener\">El Attal Holding<\/a> is poised to <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/11\/05\/-%D8%A7%D9%84%D8%B9%D8%AA%D8%A7%D9%84-%D9%87%D9%88%D9%84%D8%AF%D9%8A%D9%86%D8%BA-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D8%B9%D8%AA%D8%B2%D9%85-%D8%A7%D8%B7%D9%84%D8%A7%D9%82-%D9%85%D8%B4%D8%B1%D9%88%D8%B9-%D8%B9%D9%82%D8%A7%D8%B1%D9%8A-%D8%A8%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9\" style=\"\" rel=\"noopener\">start setting up<\/a> a new mixed-use project in Saudi Arabia in 1Q 2025 and is set to ink the project\u2019s contracts this month. The project, which will span over a thousand units, is set to encompass commercial, administrative, and entertainment activities. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Teradix secures USD 140k to fuel Saudi expansion:<\/strong> Disruptech-backed eProcurement solutions startup <a target=\"_blank\" href=\"https:\/\/teradix.com\/\" style=\"\" rel=\"noopener\">Teradix<\/a> has secured a USD 140k grant to fuel its expansion into Saudi Arabia. (<a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/413.pdf\" style=\"\" rel=\"noopener\">Press release | pdf<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- GASC secures 290k tons of wheat to shore up reserves:<\/strong> State grain buyer GASC has <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid033wPDDccuo2hFD2moFZ7jNKWFGr8oZhQvea4n6obTGsPQwYB6p97m8wgTWsHK7Stvl\" style=\"\" rel=\"noopener\">purchased 290k tons<\/a> of Romanian, Ukrainian, and Bulgarian wheat for delivery between next month.<\/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\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eastern-company\/\">Eastern Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gasc\/\">GASC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mining\/\">mining<\/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\/palm-hills-developments\/\">Palm Hills Developments<\/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\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/taaleem\/\">Taaleem<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tobacco\/\">tobacco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"654685\" 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=\"654685\">\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 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size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"654686\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/investors-watch-equities-bonds-and-crypto-as-us-election-unfolds\/464-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/464.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"464.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/464.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/464.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654685\" class=\"content-area-description single-story post-654685 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-federal-reserve tag-financial-markets tag-planet-finance tag-politics tag-wall-street 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\/11\/.81cb385c-aaa4-46fd-aa72-11ceb0da6b64.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>We\u2019re hours aw<\/strong><strong>ay from the results of one heated US presidential race<\/strong>, and financial markets are gearing up for the wild swings to come. Traders are bracing for heightened volatility amid a tight race between Republican candidate Donald Trump and Democratic candidate Kamala Harris. The stakes are high, with potential policy shifts, economic ramifications, and the Federal Reserve\u2019s imminent rate decision all poised to impact investor sentiment and market movements.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have the latest on the election<\/strong> in the news well, above. <\/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>This election\u2019s outcome is poised to reshape various sectors<\/strong>, from healthcare and energy to technology and banking. A Trump victory could boost traditional energy stocks, while a Harris victory might favor renewable energy and tech sectors due to anticipated regulatory changes. Market participants are adjusting their portfolios accordingly, preparing for sector-specific impacts based on the election\u2019s result.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s at stake for markets?<\/strong> As the dust settles on one of the most divisive US presidential elections in history, investors are zeroing in on the potential market ripples. From equities to bonds, currencies, and crypto, each asset class is poised for unique shifts depending on whether Trump or Harris claims victory.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Equities:<\/strong> Post-election market movements are expected to be sector-specific rather than broad-based. Stuart Kaiser from Citigroup notes that traders are bracing for a 1.8% swing in either direction for the S&amp;P 500 immediately following the results. Goldman Sachs' indexes \u2014 which track stocks favorable to either a Trump or Harris victory \u2014 show divergent trends; Trump-linked baskets waned in late October while Harris-aligned stocks gained momentum. \u201cThis will be one of the most easily investible election results ever, given the policy divergence between the two candidates,\u201d David Wagner from Aptus Capital Advisors told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-05\/wall-street-s-great-election-trades-now-face-the-moment-of-truth?srnd=homepage-middle-east&amp;embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pulse check: <\/strong>All of the nation\u2019s major indices closed in the green last night \u2014 the benchmark S&amp;P 500 was up 1.2%, the Dow Jones closed 1.0% higher, and the Nasdaq saw the most significant increases with a 1.4% gain. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bonds:<\/strong> \u201cThe markets are most concerned about a sweep and the lack of checks and balances,\u201d BNY Mellon Wealth Management\u2019s John Flahive told Bloomberg. Meanwhile, JPMorgan strategists predict that a Republican sweep could push 10-year yields higher, while a Harris victory with a divided Congress might stabilize the bond market, fostering a relief rally.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Currencies:<\/strong> Trump\u2019s tariff policies are likely to bolster the USD, potentially pushing it by 7% higher on a trade-weighted basis, according to JPMorgan\u2019s Meera Chandan. This would weaken other currencies like CNY, MXN, and most notably the EUR. A Harris victory, on the other hand, could weaken the USD and strengthen the EUR, with the threat of new tariffs in the rearview.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Crypto:<\/strong> It appears unlikely that the crypto sector would be harmed by which way the election race goes \u2014 A Trump administration will create a strategic reserve of BTC and ease regulatory constraints, spurring optimism in the crypto market, while a Harris administration \u201cwouldn\u2019t necessarily be a negative for the sector,\u201d writes Bloomberg. \u201cWhoever the next administration is, it\u2019s going to take a very different approach on a regulatory perspective toward crypto,\u201d Chris Rhine from Galaxy Digital is quoted as saying by Bloomberg. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story is getting a lot of ink in international press:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-05\/wall-street-s-great-election-trades-now-face-the-moment-of-truth?srnd=homepage-middle-east&amp;embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/11\/04\/what-the-stock-market-typically-does-after-the-us-election-according-to-history.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/anxious-global-investors-brace-long-awaited-us-election-results-2024-11-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/us-news\/2024\/nov\/04\/presidential-election-betting-odds-polling\" style=\"\" rel=\"noopener\">The<\/a><a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/us-news\/2024\/nov\/04\/presidential-election-betting-odds-polling\" style=\"\" rel=\"noopener\">Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnn.com\/2024\/11\/05\/investing\/us-stocks-presidential-election-outcome\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a>. <\/p><p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asia-Pascific markets are mostly in the green in early trading. <\/strong>Japan\u2019s Nikkei is leading the gains, up over 1.7%, Shanghai is up 0.6%, and South Korea\u2019s Kospi is up 0.1%. The Hang Seng Index is in the red, down 1.1%. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on Wall Street<\/strong>, stock futures are flat as investors sit awaiting the results of the presidential election. <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,794<\/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: +23.7%)<\/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>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 49.08<\/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 49.21<\/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 49.1<\/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 49.2<\/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\">12,015<\/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: +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\">9,384<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: -2.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,595<\/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: +13.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,783<\/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\">+1.2% (YTD: +21.2%)<\/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\">8,172<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +5.7%)<\/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>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\">4,870<\/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: +7.7%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 75.57<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7%<\/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 2.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-4.0%<\/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>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 2,750<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1%<\/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 69,606<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.4% (YTD: +64.5%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 0.5% at yesterday\u2019s close<\/strong> on turnover of EGP 3.5 bn (17.3% below the 90-day average). International investors were the sole net sellers. The index is up 23.7% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Eastern Company (+3.6%), Ezz Steel (+2.9%), and Orascom Construction (+2.8%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>B Investments Holding (-2.1%), Oriental Weavers (-1.9%), and Cleopatra Hospitals (-1.8%).<\/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\/federal-reserve\/\">Federal Reserve<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wall-street\/\">Wall Street<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"654687\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">9<\/div>\r\n    \r\n                        <p class=\"f-graphik\">HARDHAT<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/algammal-for-contracting-to-set-up-three-industrial-complexes-in-saudi-arabia-libya-and-iraq\/\"> \r\n                            Algammal for Contracting to set up three industrial complexes in Saudi Arabia, Libya, and Iraq<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/algammal-for-contracting-to-set-up-three-industrial-complexes-in-saudi-arabia-libya-and-iraq\/\" 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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These complexes will focus on underground infrastructure pipes essential for water, electricity, gas, and internet supplies in industrial cities, smart cities, and data centers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the group:<\/strong> Founded in 2003, Algammal initially started its journey with subcontracting for electrical infrastructure projects. Over time, the group expanded into general contracting. By 2008, the company entered the pipeline and electrical networks sectors as a certified subcontractor for major contractors, evolving into a prominent general contractor for infrastructure, electrical networks, industrial projects, commercial buildings, and housing projects. The group currently has a branch in Libya and opened its latest branch in Saudi Arabia eight months ago, as it continues to push forward with its international expansion plans.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A regional footprint.<\/strong> The company has established alliances with pre-qualified major contractors in several Arab countries, including Libya, the UAE, Oman, Saudi Arabia, and Iraq, according to Farouk.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Industrial expansion:<\/strong> Expanding in the contracting sector paved the way for the group to step foot into the industrial sector, launching subsidiaries like Ajyad for General Contracting and Metal Works, Algammal Transportation and Services, and Hafar Al Batin Concrete. The group provides international services through Egyptian Global Industrial and Contracting Corporation (<a target=\"_blank\" href=\"https:\/\/egicco.com\/\" style=\"\" rel=\"noopener\">EGICCO<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know about the regional projects:<\/strong> The group recently obtained a license to build a complex in Saudi Arabia with an annual production capacity of 36-40k tons of various products and investments exceeding SAR 200 mn (c. USD 53 mn). It is also awaiting a license for another complex in Libya, with a plan to open a contracting arm there to meet local project demands. Meanwhile, early-stage plans are in place for launching a contracting company and industrial complex in Iraq, according to Farouk.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Navigating currency challenges:<\/strong> To mitigate the impact of exchange rate fluctuations, Algammal is working to increase the local component ratio in its operations to 80-90%, and only import specialized cables. FX revenue from the group\u2019s operations in foreign markets supports the group\u2019s financial standing, Farouk said, adding that the group has not been affected by <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/57c28b24-8d76-4e2a-b209-fa25c9293c83\/goodbye,-import-restrictions%3F\" style=\"\" rel=\"noopener\">import restrictions<\/a> as it has sufficient stock to complete ongoing projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The construction and infrastructure sector is undergoing a major transformation<\/strong>, with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4286f10b-5618-426b-87de-d53d22d9591a\/\" style=\"\" rel=\"noopener\">caps on government investments<\/a> opening the door for private sector players. This shift allows banks to finance guarantees for larger projects in Egypt and abroad, Farouk told us, adding that the government continues to implement national projects, offering diverse opportunities for private sector contractors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Major projects in progress:<\/strong> Algammal secured three construction packages for the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/79e8bb5d-d4df-4aef-9d3e-914e95be9d1c\" style=\"\" rel=\"noopener\">Egypt-Saudi Arabia electrical interconnection<\/a> project. The project \u2014 carried out by Italian cable manufacturer <a target=\"_blank\" href=\"https:\/\/www.prysmian.com\/en\" style=\"\" rel=\"noopener\">Prysmian<\/a> \u2014 involves laying eight 500kV DC cables across the Gulf of Aqaba and preparing and installing ground cables.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The project\u2019s size:<\/strong> Egypt and Saudi produce a combined 160 GW of electricity every year and the interconnection will transport the 3 GW at 500 kV along 1.3k km using overhead power lines and a subsea cable across the Red Sea, potentially supplying power to 20 mn people.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The progress so far:<\/strong> The company has completed about 75% of its work on the project, including laying seven underwater cables, with the eighth underway. The groundwork is expected to be completed in less than 30 days.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Egypt aims to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4bb189ba-8a2b-4095-a555-fe8304a1b252\/\" style=\"\" rel=\"noopener\">kick off the trial operation<\/a> of the first phase of the USD 1.8 bn power interconnection in April 2025, ahead of the original <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/653bc78e-5d38-4458-975b-249cc9521b61\" style=\"\" rel=\"noopener\">May date<\/a>. The first phase \u2014 which will see 1.5 GW of the planned 3 GW come online \u2014 is set for completion by June 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Algammal is also working on several major projects, including:<\/strong><\/p>\n<ul>\n<li><strong>New Delta: <\/strong>The company is working with the Egyptian Electricity Transmission Company to connect 220kV overhead lines to the New Delta stations, with investments totaling EGP 1.8 bn.<\/li>\n<li><strong>Cairo Monorail:<\/strong> The company is responsible for supplying and installing 220kV of underground cables and fiber optic cables under an EGP 2 bn contract.<\/li>\n<li><strong>New Abu Qir Port:<\/strong> The company is constructing a comprehensive rainwater drainage network to enhance the development of reclaimed lands within the port, with total investments of EGP 620 mn.<\/li>\n<li><strong>Toshka Valley:<\/strong> The company is helping extend overhead power lines for an irrigation reclamation project in southern Toshka Valley, with investments amounting to EGP 441 mn.<\/li>\n<li><strong>New Administrative Capital:<\/strong> The company is undertaking drilling works to lay high-voltage cables throughout the city<strong>.<\/strong><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong> Egypt to establish three shipyards: <\/strong>Egypt is set to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e04d51a9-5730-4f61-bc7f-d474cd7b257b\/egypt%25e2%2580%2599s-kouchouk-lays-out-plan-for-ensuring-economic-stability\" style=\"\" rel=\"noopener\">establish three new shipyards<\/a> in partnership with the private sector in the Suez and Red Sea governorates, with investments exceeding USD 100 mn.<\/li>\n<li><strong>Who\u2019s taking over the new capital\u2019s business district? <\/strong>A consortium of China State Construction Engineering Corporation (CSCEC) subsidiary Umi Group and IGI Holding <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/39c3d076-3177-4c02-869f-96e07b835e25\/cscec-subsidiary-inks-agreement-to-operate-new-capital%25e2%2580%2599s-business-district\" style=\"\" rel=\"noopener\">signed an MoU<\/a> with the New Urban Communities Authority to manage and operate the Central Business District in the New Administrative Capital.<\/li>\n<li><strong>Egyptian contech startup Elmawkaa has been acquired by Saudi-based Ayen: <\/strong>Home-grown construction tech startup Elmawkaa <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/808930bf-b027-428f-81e5-0c5337739e60\" style=\"\" rel=\"noopener\">was acquired<\/a> by Saudi-based real estate appraisal platform Ayen in a SAR seven-figure transaction.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hardhat\/\">Hardhat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iraq\/\">Iraq<\/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\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"654689\" 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\/11\/06\/654689\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654689\" class=\"content-area-description single-story post-654689 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>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 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 November (Sunday): The House of Representatives reconvenes.<\/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>29 November (Friday): Egypt and Italy to launch a ro-ro shipping line connecting Damietta Port with Italy\u2019s Port of Trieste.<\/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 style=\"font-weight:400;\">28 January (Tuesday): Nigeria to inaugurate the USD 5 bn Africa Energy Bank in Abuja. <\/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 style=\"font-weight:400;\">2025: The InterAcademy Partnership assembly.<\/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;\">2025: Nile Basin States Summit, Cairo, Egypt.<\/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>Another cigarette price hike | More renewable investments | Eyes on the US | Industrial complexes.<\/p>\n","protected":false},"featured_media":654667,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-654666","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"ed6bf9b4-6297-49b2-ae94-dfb9152a5785","teaser":"Another cigarette price hike | More renewable investments | Eyes on the US | Industrial complexes.","photo_url":"https:\/\/ent.news\/2024\/11\/477.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>The fourth review of Egypt\u2019s IMF loan program is well underway - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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