{"id":654742,"date":"2024-11-07T00:00:00","date_gmt":"2024-11-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=654742"},"modified":"2025-12-18T01:09:18","modified_gmt":"2025-12-18T01:09:18","slug":"el-khatib-to-announce-revamped-privatization-program-this-month","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/el-khatib-to-announce-revamped-privatization-program-this-month\/","title":{"rendered":"El Khatib to announce revamped privatization program this month"},"content":{"rendered":"<section id=\"654744\" 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=\"654744\">\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\/07\/govt-set-to-expand-ppp-offerings-with-11-new-projects\/\">\r\n                            Egypt set to expand PPP offerings with 11 new projects                        <\/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\/07\/govt-set-to-expand-ppp-offerings-with-11-new-projects\/\" target=\"_blank\">\n         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size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"654745\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/govt-set-to-expand-ppp-offerings-with-11-new-projects\/965-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/965.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"965.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/965.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/965.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654744\" class=\"content-area-description single-story post-654744 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-public-private-partnership 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\/.e720e5b8-1bc5-4ef6-89bf-ea961b463375.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morni<\/strong><strong>ng, friends, and h<\/strong><strong>appy Thursday to you all.<\/strong> We have another busy issue for you this morning as we wrap up one very eventful week, between Egypt\u2019s fourth IMF loan review kicking off, promises of an imminent announcement of a revamped privatization program, and Trump\u2019s reelection. <\/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>Gov\u2019t set to expand PPP offerings with 11 new projects:<\/strong> The government is planning to launch 11 new tenders for investments under the public-private partnership (PPP) model, with targeted investment costs totaling EGP 62 bn, a government source told EnterpriseAM. The offerings come as the government seeks to expand private sector involvement in projects prioritized in the government\u2019s investment plan, the source added.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Five projects have already gotten the greenlight: <\/strong>The PPP Supreme Committee has approved five projects with investments totaling EGP 35.4 bn, with tenders set to be launched soon. These projects include electricity distribution networks, a wastewater treatment plant, a wholesale markets project, and the second phase of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e1d26444-89e1-4c62-a755-5f8584181199\/gov%25e2%2580%2599t-explores-ways-to-boost-dwindling-private-education-investment\" style=\"\" rel=\"noopener\">PPP education program<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rest are pending approval:<\/strong> The six remaining projects are awaiting committee approval. These include projects for water recycling and industrial wastewater treatment. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adding to our existing slate of PPPs:<\/strong> The source noted that ten contracts with a total of EGP 20 bn in investment costs have been signed this year under the mechanism, including a project to develop strategic goods warehouses, the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d58985e2-86bd-408d-95fd-0ea83d7421a5\/sczone-eyes-usd-60-mn-data-center-project-partnership-with-private-sector.-plus:-spe-capital,-valu-%2B-majid-al-futtaim,-tatweer-misr,-cushman-&amp;-wakefield\" style=\"\" rel=\"noopener\">Tenth of Ramadan dry port<\/a>, and a solid waste recycling project.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The government is targeting <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/567a0eaf-5133-4459-8f7b-25a0bb8d73a8\/gov%25e2%2580%2599t-to-invite-bids-for-usd-3-bn-worth-of-ppp%253cmark%253e-infrastructure%253c%2Fmark%253e-projects-by-the-end-of-the-year.-plus:-beltone-to-launch-two-new-venture-funds\" style=\"\" rel=\"noopener\">USD 3.2 bn<\/a> worth of infrastructure PPPs by year-end.<\/p><p class=\"tag-border-left\">CAPITAL MARKETS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>Egypt\u2019s first SPAC submits request to list: <\/strong>Impact investor Catalyst Partners\u2019 SPAC, Catalyst Partners Middle East (CPME), has officially submitted a request to list its shares on the EGX, <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/600.jpg\" style=\"\" rel=\"noopener\">the bourse said<\/a> yesterday. The SPAC plans to list 1 mn shares with a nominal value of EGP 10 per share \u2014 bringing its total issued capital to EGP 10 mn. The SPAC is in the process of finalizing its paperwork ahead of presenting it to the EGX\u2019s listing committee.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> CPME became Egypt\u2019s first SPAC, after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/88ac5801-4921-4b05-a6e4-7167c37d2d7f\/\" style=\"\" rel=\"noopener\">receiving the greenlight<\/a> from the Financial Regulatory Authority (FRA) in late September. CPME will reportedly target fintech firms and NBFS players, with plans to acquire three firms upon receiving the license, according to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0ba2fa5a-4b7c-4884-ab6b-15221bf361a2\/egypt-could-soon-welcome-its-first-spac\" style=\"\" rel=\"noopener\">unconfirmed reports<\/a> out in July when Catalyst Partners applied for the SPAC license.<\/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>Madbouly to meet with heads of House committees: <\/strong>Prime Minister Moustafa Madbouly is set to meet today with the heads of the House's 25 committees to discuss the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/34a5b4ba-e7d0-46b6-a984-45db566a7c90\/imf-begins-its-fourth-review-of-egypt%25e2%2580%2599s-usd-8-bn-program\" style=\"\" rel=\"noopener\">fourth review<\/a> of our IMF loan program currently underway, upcoming parliamentary elections, and efforts to address the ongoing drug shortage. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FROM YESTERDAY- <\/strong>The House\u2019s Transport Committee approved a government-drafted amendments to the Maritime Trade Law that aim to boost Egypt's commercial maritime capacity by rebuilding and expanding the national fleet. The amendments will enable Egypt\u2019s fleet to handle 25% of Egypt\u2019s foreign trade and generate greater FX revenues.<\/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\"><a id=\"wwtt4\"><\/a> <strong>CBE to issue USD 1.6 bn in USD-denominated t-bills next week:<\/strong> The Central Bank of Egypt plans to auction USD 1.6 bn in USD-denominated t-bills next week, unnamed sources told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/11\/05\/-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A-%D9%8A%D8%B5%D8%AF%D8%B1-%D8%A3%D8%B0%D9%88%D9%86-%D8%AE%D8%B2%D8%A7%D9%86%D8%A9-%D8%AF%D9%88%D9%84%D8%A7%D8%B1%D9%8A%D8%A9-%D8%A7%D9%84%D8%A3%D8%B3%D8%A8%D9%88%D8%B9-%D8%A7%D9%84%D9%85%D9%82%D8%A8%D9%84-%D8%A8%D9%82%D9%8A%D9%85%D8%A9-1-6-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D9%88%D9%84%D8%A7%D8%B1\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The last time the CBE issued USD-denominated t-bills was in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/addb64ff-46a6-4f10-a714-f307587309b9\/mps-vote-on-state-budget-today\" style=\"\" rel=\"noopener\">June<\/a> when it raised just over USD 500 mn with an average yield of 5.149%.<\/p><p class=\"tag-border-left\">FACT CHECK-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No official offers for Ezz Steel shares: <\/strong>Steel giant Ezz Steel denied receiving any official offers or ongoing negotiations for the purchase of its free-floating shares on the EGX, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/585.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a> to the EGX. The company confirmed that while it received inquiries from investment banks, portfolio managers, and fund managers, no formal offers were made.<\/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 27\u00b0C and a low of 19\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a little colder in Alexandria<\/strong>, with a high of 26\u00b0C and a low of 17\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And over the weekend, <\/strong>expect to see a high of 27\u00b0C and a low of 18\u00b0C in the capital.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt5\"><\/a> <strong>With Trump elected for another term, it\u2019s a very politics-heavy morning in the <\/strong><strong>international press.<\/strong> After the US presidential election results were called earlier than initially expected yesterday, Kamala Harris conceded the race to Donald Trump The current vice president\u2019s concession is getting ink in the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2024\/11\/06\/us\/trump-election-harris-news\" style=\"\" rel=\"noopener\">New York Times<\/a>, <a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2024\/11\/06\/kamala-harris-concedes-00188003\" style=\"\" rel=\"noopener\">Politico<\/a>, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/11\/06\/trump-live-updates-markets-and-world-leaders-react-to-americas-president-elect.html\" style=\"\" rel=\"noopener\">CNBC<\/a>, and the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/economy\/economy-election-trump-voters-c4c2e9a3?mod=hp_lead_pos7\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>, among many others. The race to form the 47th US president\u2019s cabinet is now on, with Trump vetting candidates to form his administration. The <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/39bfcfaa-210b-45f8-a625-0167abfa9d79\" style=\"\" rel=\"noopener\">Financial Times<\/a> and <a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2024\/11\/06\/trump-vetting-candidates-white-house-jobs-00188070\" style=\"\" rel=\"noopener\">Politico<\/a> have more. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>Trump <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/interactive\/2024\/11\/05\/us\/elections\/results-president.html\" style=\"\" rel=\"noopener\">secured 295 electoral votes<\/a> as of this morning, way above the 270 needed to declare a winner, while Harris received some 226 votes. He is also leading <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2024\/11\/06\/trump-popular-vote-republican-candidates\" style=\"\" rel=\"noopener\">the popular vote<\/a>, with 71.9 mn votes, while Harris is hot on his heels with 67 mn votes. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Republicans have also taken over the US Senate<\/strong> after securing majority, meanwhile the <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/congress-elections-house-senate-harris-trump-94b49277db2a5c21f23236794a36afa6\" style=\"\" rel=\"noopener\">race for the House is still underway<\/a> with the Republicans in the lead. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What does a second Trump administration look like?<\/strong> Critically, the Republican Party looks set to secure the two chambers of the Congress in addition to landing the White House, the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/elections\/republicans-poised-to-keep-control-of-house-after-winning-senate-34fda68e\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> notes. Meanwhile, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b446937d-6ab8-4264-b818-aa30633ca189\" style=\"\" rel=\"noopener\">Financial Times<\/a> looks at what Trump\u2019s foreign policy will look like, as <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/white-house-plans-rush-military-aid-ukraine-by-inauguration-day-politico-reports-2024-11-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a> notes that the next few years is looking uncertain for some countries like Ukraine \u2014 which is unlikely to receive much support from Washington once Joe Biden\u2019s current term in office comes to a close. The <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/economy\/what-a-trump-win-means-for-the-economy-50de4670\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-06\/powell-faces-new-outlooks-on-fed-rate-cuts-after-trump-s-us-election-win\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, and the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/11\/06\/business\/economy\/global-economy-us-election.html\" style=\"\" rel=\"noopener\">New York Times<\/a> also get into what the second Trump presidency will likely mean for the economy and the US Federal Reserve.<\/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\/public-private-partnership\/\">public-private partnership<\/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=\"654746 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=\"654746\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/654746\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654746\" class=\"content-area-description single-story post-654746 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=\"654747\" 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=\"654747\">\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\">Policy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/government-to-unveil-revamped-privatization-program-before-december\/\">\r\n                            Egypt to unveil revamped privatization program before December                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/government-to-unveil-revamped-privatization-program-before-december\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n              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href=\"https:\/\/api.whatsapp.com\/send?text=Government+to+unveil+revamped+privatization+program+before+December+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F07%2Fgovernment-to-unveil-revamped-privatization-program-before-december%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\/07\/government-to-unveil-revamped-privatization-program-before-december\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/614.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"654748\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/government-to-unveil-revamped-privatization-program-before-december\/614-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/614.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"614.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/614.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/614.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654747\" class=\"content-area-description single-story post-654747 post type-post status-publish format-standard has-post-thumbnail hentry category-policy tag-economy tag-enterpriseam tag-exchange-rate tag-imf tag-moustafa-madbouly tag-policy tag-state-privatization-program wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.cdad2fec-c5c5-45ad-8f0e-9d7e611a76b0.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The revamped privati<\/strong><strong>zation program is around the corner:<\/strong> Investment Minister Hassan El Khatib will unveil the revamped privatization program before the end of the month, Prime Minister Moustafa Madbouly <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0cpjy9MnQ9nvmbvoJ7oBpbjTSigxTupd6VDytciia3tL9n6ApFDTTTSw4QXPoNgVLl?rdid=4xFiZ7rkqwXyrZVd\" style=\"\" rel=\"noopener\">told journalists<\/a> following his weekly presser (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=ZX6gkC_525E\" style=\"\" rel=\"noopener\">watch, runtime: 20:23<\/a>) yesterday without elaborating any further. <\/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>Remember:<\/strong> Bloomberg quoted Madbouly in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f6a461ee-cdfc-4359-acbe-2c15eb7c414f\/\" style=\"\" rel=\"noopener\">late October<\/a> saying that his government will be taking another look at its plan to sell off stakes in state-owned companies and assets, and that the sectors and sizes of the stakes of offered companies may be re-evaluated. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Prepare for constant reviews: <\/strong>Madbouly had also said that \u201ccurrent circumstances require us to review it continuously,\u201d rather than once every three years per the policy\u2019s initial guidelines.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have a rough idea of how the revamped program will operate:<\/strong> El Khatib told us in September at the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/50c72681-4395-4534-a776-55c4311ff798\/investment-and-foreign-trade-minister-hassan-el-khatib-joins-us-at-the-enterpriseam-finance-forum\" style=\"\" rel=\"noopener\">EnterpriseAM Finance Forum<\/a> that he\u2019s \u201cnot fixated on privatization,\u201d explaining that he instead approaches the topic as \u201can investor.\u201d El Khatib explained that instead of selling assets quickly and cheaply, \u201cI want to talk about maximizing their value and the returns we get for them, move them to a sovereign wealth fund, have them be run by the private sector, and monetize them to generate more value.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ON ANOTHER NOTE- Could we get some more time to implement the IMF\u2019s reforms? <\/strong>Egyptian officials and the International Monetary Fund mission <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/34a5b4ba-e7d0-46b6-a984-45db566a7c90\/imf-begins-its-fourth-review-of-egypt%25e2%2580%2599s-usd-8-bn-program\" style=\"\" rel=\"noopener\">in town for the long-awaited fourth review<\/a> are in discussions over how they can extend the timeline of implementing some of the reforms previously agreed upon with the Fund, Madbouly said. \u201cA very large part of our discussions with the Fund revolve around how we can postpone some of the targets so that we do not put pressure on the citizens in the coming period,\u201d he said. <\/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>IMF showed a flexible attitude:<\/strong> Madbouly highlighted that Georgieva showed understanding of the economic situation and has directed the mission in charge of the fourth loan review to maintain an open dialogue with the government on the best way to implement these updated targets. \u201cThe original targets were agreed upon during different economic conditions, which did not anticipate the current regional crisis,\u201d Madbouly explained. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGP is a \u201ctruly flexible\u201d currency<\/strong>, Madbouly said, adding that Georgieva applauded Egypt\u2019s commitment to a flexible exchange rate. His comments follow <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\">recent reports<\/a> that investors have been pressing the IMF for an explanation 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>ICYMI-<\/strong> The USD has been rising against the EGP throughout the week, starting the week at EGP 49.10 is now exchanging hands at up to EGP 49.30.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/exchange-rate\/\">exchange rate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/policy\/\">policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state 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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"654750\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">BUDGET WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/fuel-subsidies-up-232-in-first-quarter-of-fy-2024-25-despite-price-hikes\/\">\r\n                            Fuel subsidies up 232% in first quarter of FY 2024-25 despite price hikes                        <\/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 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<\/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\/07\/fuel-subsidies-up-232-in-first-quarter-of-fy-2024-25-despite-price-hikes\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2143.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"654751\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/fuel-subsidies-up-232-in-first-quarter-of-fy-2024-25-despite-price-hikes\/2143-jpg-29\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2143.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2143.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2143.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2143.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654750\" class=\"content-area-description single-story post-654750 post type-post status-publish format-standard has-post-thumbnail hentry category-budget-watch tag-budget-watch tag-energy tag-enterpriseam tag-imf tag-subsidies 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\/.0aaef2eb-1c23-4bf6-a668-5da097e7ff3a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Fuel subsidies soared in 1Q FY 2024-25: <\/strong>The Madbouly government spent EGP 28.5 bn on fuel subsidies in 1Q of the current fiscal year, marking a 232% increase from the EGP 8.6 bn spent during the same period last year, according to an official document seen by EnterpriseAM. This spike comes despite two rounds of fuel price hikes implemented since the start of the fiscal year \u2014 and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e1e29b9-af1f-412d-9492-354ca6e76353\/egypt-hikes%253cmark%253e-fuel%253c%2Fmark%253e-prices-for-the-third-time-in-2024\" style=\"\" rel=\"noopener\">three rounds<\/a> throughout the calendar year.<\/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>Oil prices and a weak EGP hit the fuel subsidy bill hard:<\/strong> The surge in subsidies comes on the back of a global spike in oil prices and the EGP\u2019s depreciation, which have both amplified the cost of fuel imports, a government source told EnterpriseAM. The Oil Ministry has ramped up imports to meet soaring summer demand, especially for mazut, gas, and other petroleum products.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FinMin stepped in to cover dues:<\/strong> The Finance Ministry provided an additional EGP 53 bn to the Oil Ministry to help it settle payments to foreign partners and secure imports for strategic stockpiling, the document showed. This process was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6cf2075b-4d1c-428b-b44d-7322af3411c5\/gov%25e2%2580%2599t-is-in-talks-with-italy%25e2%2580%2599s-eni-over-a-new-usd-150-mn-fixed-regasification-unit\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6cf2075b-4d1c-428b-b44d-7322af3411c5\/gov%25e2%2580%2599t-is-in-talks-with-italy%25e2%2580%2599s-eni-over-a-new-usd-150-mn-fixed-regasification-unit\" style=\"\" rel=\"noopener\">expedited<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6cf2075b-4d1c-428b-b44d-7322af3411c5\/gov%25e2%2580%2599t-is-in-talks-with-italy%25e2%2580%2599s-eni-over-a-new-usd-150-mn-fixed-regasification-unit\" style=\"\" rel=\"noopener\"><\/a> during August\u2019s oil price dip, allowing state-owned Egyptian General Petroleum Corporation to lock in lower prices ahead of expected hikes from global production cuts, the source confirmed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3fd60d61-8953-483c-a09b-8bce0f612e9e\" style=\"\" rel=\"noopener\">allocated EGP 154.5 bn<\/a> to fuel subsidies for the current fiscal year in the budget for the FY 2024-25. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government is negotiating with the International Monetary Fund to delay the fuel <\/strong><strong>subsidy phase-out.<\/strong> Talks are currently underway to adjust the <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\">timeline and targets<\/a> of previously agreed reforms as the Fund begins its much-anticipated <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/34a5b4ba-e7d0-46b6-a984-45db566a7c90\/imf-begins-its-fourth-review-of-egypt%25e2%2580%2599s-usd-8-bn-program\" style=\"\" rel=\"noopener\">fourth loan review<\/a>, set to conclude in a little under two weeks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alas, we\u2019re trying our best:<\/strong> The government is ramping up support for programs to shift vehicles to run on natural gas and electricity, as well as expanding residential gas connections. The report shows plans to convert 455k vehicles over the next four years, averaging 113k per year, and connect 1.2 mn homes to natural gas as a cheaper alternative to gas cylinders. Switching to natural gas could save citizens EGP 30k-49k annually, with added savings for the state budget, according to the document. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Efforts are already underway: <\/strong>Earlier this week, Finance Minister Ahmed Kouchouk <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8403a52-d1a1-4538-9174-5628aafc0aaa\/egypt-wants-to-attract-usd-4-bn-in-renewable-investments-next-year\" style=\"\" rel=\"noopener\">told MPs<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8403a52-d1a1-4538-9174-5628aafc0aaa\/egypt-wants-to-attract-usd-4-bn-in-renewable-investments-next-year\" style=\"\" rel=\"noopener\">that the government is currently looking<\/a> 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>\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\/budget-watch\/\">budget watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsidies\/\">subsidies<\/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=\"654752\" 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=\"654752\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/central-bank-eases-import-restrictions-on-vehicle\/\">\r\n                            Central Bank of Egypt eases import restrictions on vehicle                        <\/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\/07\/central-bank-eases-import-restrictions-on-vehicle\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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This policy shift comes as the CBE seeks to lift all remaining USD restrictions, with banks reportedly beginning to reach out to clients on Tuesday.<\/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>We had an inkling that this was coming: <\/strong>Earlier this week we heard that the government was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3b18ebd9-05af-47fc-89cc-607d8841438a\/auto-sales-fall-for-the-second-consecutive-month-in-september\" style=\"\" rel=\"noopener\">loosening restrictions<\/a> on bank financing for non-essential imports including vehicles, which have seen continued import restrictions. Import backlogs have seen auto sales drop in September and August.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It comes with conditions:<\/strong> Imported cars by non-authorized agents will need to have at least two airbags, comply with local safety and security standards, offer aftersale services, and have its essential spare parts available in the market, according to one of the sources. Member of the Federation of Egyptian Chambers of Commerce\u2019s automotive division Montasser Zeitoun argues that these rules are too restrictive, adding to EnterpriseAM that the division is working on a memorandum to be forwarded to the Investment Ministry calling for halting the decision under which these specifications are required. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another obstacle<\/strong><strong>: <\/strong>Some importers are having difficulty issuing new ACID numbers \u2014 a unique ID number that importers obtain for their shipments. Authorities in August <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bec3250d-314d-422c-b328-b82da157ba9a\/madbouly-now-needs-to-sign-off-on-any-factory-closures\" style=\"\" rel=\"noopener\">resumed the issuances exclusively for car dealerships and diplomats<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A look at the local automotive market at the moment: <\/strong>Rising prices on the back of the float of the EGP have caused the local market to shrink greatly, with vehicle imports falling from an annual 250k to 100k. <\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"654754\" 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=\"654754\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/egypts-foreign-reserves-continue-their-upward-cruise-coming-in-at-usd-46-9-bn-in-october\/\">\r\n                            Egypt\u2019s foreign reserves continue their upward cruise, coming in at USD 46.9 bn in October                        <\/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\/07\/egypts-foreign-reserves-continue-their-upward-cruise-coming-in-at-usd-46-9-bn-in-october\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/egypts-foreign-reserves-continue-their-upward-cruise-coming-in-at-usd-46-9-bn-in-october\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/612.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"654755\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/egypts-foreign-reserves-continue-their-upward-cruise-coming-in-at-usd-46-9-bn-in-october\/612-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/612.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"612.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/612.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/612.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654754\" class=\"content-area-description single-story post-654754 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-central-bank-of-egypt tag-economy tag-enterpriseam tag-foreign-reserves 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\/.74391f91-0a08-4120-80c3-0b3344d79f8e.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Net foreign reserves reached a new high of USD 46.9 bn at the end of October <\/strong><strong>2024<\/strong>, up USD 205 mn from September\u2019s USD 46.7 bn, according to <a target=\"_blank\" href=\"https:\/\/cbe.org.eg\/en\/news-publications\/news\/2024\/11\/06\/09\/04\/net-international-reserves-at-the-end-of-october-2024\" style=\"\" rel=\"noopener\">data<\/a> from the Central Bank of Egypt. <\/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>Here\u2019s the breakdown, according to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/588.jpg\" style=\"\" rel=\"noopener\">CBE<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/588.jpg\" style=\"\" rel=\"noopener\">data<\/a><\/strong><strong>:<\/strong><\/p>\n<ul>\n<li><strong>FX reserves<\/strong> fell to just under USD 35.5 bn in October, down from nearly USD 36 bn in September.<\/li>\n<li><strong>Gold reserves<\/strong> rose by around 431 mn to USD 11.2 bn, up from USD 10.7 bn in September.<\/li>\n<li><strong>Special drawing rights<\/strong> rebounded over the month, rising to USD 293 mn from USD 20 mn in September.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/About\/Factsheets\/Sheets\/2023\/special-drawing-rights-sdr\" style=\"\" rel=\"noopener\">Special drawing rights<\/a> \u2014 also known as SDRs \u2014 are international reserve assets created by the IMF. While not a currency, they are a form of international money that can be used by countries to supplement their official reserves. They are primarily used for IMF transactions, such as repaying loans or increasing quotas.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s net foreign reserves have increased by around USD 11.6 bn<\/strong> in the six months since the government announced the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0b97fcf-95b0-4d39-86ae-0a4989221520\" style=\"\" rel=\"noopener\">USD 35 bn Ras El Hekma agreement<\/a>, which was followed by the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac569e2c-c6f2-480e-bdaa-3f1cd4f81d05\" style=\"\" rel=\"noopener\">float of the EGP<\/a> and FX liquidity returning to the official banking system, paving the way for more international funds. In February \u2014 the month immediately before the float \u2014 foreign reserves stood at <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/98fd7df8-7e83-42c6-a867-b40af8430539\" style=\"\" rel=\"noopener\">USD 35.3 bn<\/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\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-reserves\/\">foreign reserves<\/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=\"654756\" 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=\"654756\">\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\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/madbouly-cabinet-approves-redrafted-labor-act-during-its-weekly-meeting\/\">\r\n                            Madbouly cabinet approves redrafted Labor Act during its weekly meeting                        <\/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\/07\/madbouly-cabinet-approves-redrafted-labor-act-during-its-weekly-meeting\/\" 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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href=\"https:\/\/api.whatsapp.com\/send?text=Madbouly+cabinet+approves+redrafted+Labor+Act+during+its+weekly+meeting+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F07%2Fmadbouly-cabinet-approves-redrafted-labor-act-during-its-weekly-meeting%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\/07\/madbouly-cabinet-approves-redrafted-labor-act-during-its-weekly-meeting\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/606.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"654757\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/madbouly-cabinet-approves-redrafted-labor-act-during-its-weekly-meeting\/606-jpg-30\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/606.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"606.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/606.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/606.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654756\" class=\"content-area-description single-story post-654756 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-automotive tag-cabinet-watch tag-enterpriseam tag-food tag-investment-watch tag-madbouly-cabinet tag-mafi tag-manufacturing 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\/.c97c65aa-b943-4c4b-8bd1-53ad15a0d663.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Madbouly cabinet approved a raft of new decisions during its <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02Vs6kq5PDU3PxUTkzgJAoUZRvoLLrhT51Qe4bCwKfKejG2YfEeMKM8MV9rTeKGQzml\" style=\"\" rel=\"noopener\">weekly meeting<\/a><\/strong> yesterday, including new legislation, new projects, and two new golden license issuances.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Redrafted Labor Act receives cabinet approval:<\/strong> The Madbouly government approved the redrafted Labor Act. The 267-article bill underwent several rounds of discussions with workers and businessmen over the last year, Labor Minister Mohamed Gobran <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/33568309-a50d-4297-8ccf-e4f586fdbd17\/redrafted%253cmark%253e-labor-act%253c%2Fmark%253e-receives-provisional-approval-from-house-committee.-plus:-news-from-kazyon,-tez-tours,-huawei,-b-well\" style=\"\" rel=\"noopener\">said<\/a> last month, adding that he hopes to see the new Labor Act last for more than 30 years. The redrafted act received provisional approval from the House\u2019s Manpower Committee last month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> The redrafted bill will be referred back to the House of Representatives for a final discussion and vote, Gobran said at the time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The government pulled the bill from the House last year after the legislation received backlash from the business community, many of whom claimed that the original version\u2019s terms were lopsided in favor of workers. The new law will include provisions that protect and support irregular workers \u2014 who currently make up between 60-80% of Egypt\u2019s total workforce.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Green agribusiness skills development project gets approval:<\/strong> The cabinet approved a presidential decree on a USD 7.1 mn (CAD 9.9 mn) grant agreement for the <a target=\"_blank\" href=\"https:\/\/www.collegesinstitutes.ca\/programs\/egypt-green-skills-climate-smart-agribusiness-network-program\/\" style=\"\" rel=\"noopener\">Egypt Green Skills for the Climate-smart Agribusiness Network Program (EGYCAN)<\/a> project between the Egyptian and Canadian governments. The project looks to develop employment opportunities in the agribusiness sector by improving climate-smart programs and industry-related skills in the governorates of Beheira, Gharbiya, and Menoufia, and is set to directly benefit over 24k students over its five-year implementation period. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- MAFI granted a golden license: <\/strong>Cabinet approved granting MAFI Agricultural Produce Industries a golden license for its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/22d1783a-c1a1-4935-b2ad-47ef4bc89267\/%253cmark%253emafi%253c%2Fmark%253e-to-set-up-private-freezone-for-its-agri-food-industrial-complex\" style=\"\" rel=\"noopener\">agri-food industrial project<\/a> in Sadat City. The project, which is expected to begin operations in March 2026 and will see investments of just over USD 180 mn, is expected to produce USD 200 mn worth of agri-food products annually during its first phase, and double that when its second phase is up and running, all of which will be exported.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- And another one for Coficab:<\/strong> Cabinet also approved granting the Tunisian automotive cable manufacturer <a target=\"_blank\" href=\"https:\/\/beta.coficab.com\/\" style=\"\" rel=\"noopener\">Coficab<\/a> the golden license for its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3dd46579-9495-4539-b44f-9ec472164ba4\/cabinet-approves-usd-88-mn-auto-cables-plants,-atidi-membership,-fresh-foreign-assistance\" style=\"\" rel=\"noopener\">up to USD 88 mn automotive cable and electrical factory<\/a> in Tenth of Ramadan City. The project is scheduled for completion by the end of June 2025, according to the statement, with the plant set to span some 30k sqm in the Tenth of Ramadan industrial zone and create 267 jobs. The factory is expected to earmark 100% of its output \u2014 made using 60% locally-sourced materials \u2014 to exports to global markets, including Tunisia, the UAE, Turkey, and Eastern Europe.<\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cabinet-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/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\/madbouly-cabinet\/\">Madbouly Cabinet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mafi\/\">MAFI<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"654758\" 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=\"654758\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/ci-capitals-micro-financing-arm-raises-egp-884-mn-in-second-securitization-issuance\/\">\r\n                            CI Capital\u2019s micro-financing arm raises EGP 884 mn in second securitization issuance                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/ci-capitals-micro-financing-arm-raises-egp-884-mn-in-second-securitization-issuance\/\" 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\/07\/ci-capitals-micro-financing-arm-raises-egp-884-mn-in-second-securitization-issuance\/')\">\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\/07\/ci-capitals-micro-financing-arm-raises-egp-884-mn-in-second-securitization-issuance\/\">\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=CI Capital\u2019s micro-financing arm raises EGP 884 mn in second securitization issuance&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/ci-capitals-micro-financing-arm-raises-egp-884-mn-in-second-securitization-issuance\/\">\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\/07\/ci-capitals-micro-financing-arm-raises-egp-884-mn-in-second-securitization-issuance\/&title=CI Capital\u2019s micro-financing arm raises EGP 884 mn in second securitization issuance\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=CI+Capital%E2%80%99s+micro-financing+arm+raises+EGP+884+mn+in+second+securitization+issuance+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F07%2Fci-capitals-micro-financing-arm-raises-egp-884-mn-in-second-securitization-issuance%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/ci-capitals-micro-financing-arm-raises-egp-884-mn-in-second-securitization-issuance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/604.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"654759\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/ci-capitals-micro-financing-arm-raises-egp-884-mn-in-second-securitization-issuance\/604-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/604.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"604.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/604.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/604.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654758\" class=\"content-area-description single-story post-654758 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-ci-capital tag-debt-watch tag-enterpriseam tag-reefy-microfinance tag-securitization wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.8ed1d694-200e-4e61-989d-c1569c1f7698.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CI Capital has closed an EGP 884 mn securitized bond issuance for its <\/strong><strong>micro-financing arm Reefy Microfinance<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/516.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from CI Capital.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The issuance was the second of a three-year, EGP 3 bn program. It came in three tranches with tenors ranging between six and 18 months, with two tranches rated Prime 1 and one rated A- by the Middle East Rating and Investors Service (MERIS).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Reefy <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dc098a97-eacd-4e85-89fe-5b72c5e775df\/%253cmark%253ereefy%253c%2Fmark%253e-microfinance-issues-egp-700-mn-in-securitized-bonds\" style=\"\" rel=\"noopener\">kicked off<\/a> its securitization program in August of last year with a EGP 700 mn issuance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The plan for the funds: <\/strong>The issuance will provide Reefy with \u201cadditional financing capacity and lowers our financing costs. This allows us to offer competitively priced products, fostering sustainable growth for both the company and our clients, in line with the responsible finance principles set by the Financial Regulatory Authority,\u201d CEO Ahmed Labib said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> CI Capital acted as sole financial advisor, issuance manager, and lead arranger. Zaki Hashem & Partners provided legal counsel, while Baker Tilly was the auditor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT<\/strong><strong>- <\/strong>This issuance brings the total value of securitized bonds issued in Egypt this year to EGP 27.3 bn, according to data tracked by EnterpriseAM Egypt.<\/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\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/reefy-microfinance\/\">Reefy Microfinance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/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=\"654760\" 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=\"654760\">\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\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/beltone-recognized-for-its-train-to-sustain-initiative\/\">\r\n                            Beltone recognized for its Train to Sustain initiative                        <\/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\/07\/beltone-recognized-for-its-train-to-sustain-initiative\/\" 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\/07\/beltone-recognized-for-its-train-to-sustain-initiative\/')\">\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\/07\/beltone-recognized-for-its-train-to-sustain-initiative\/\">\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=Beltone recognized for its Train to Sustain initiative&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/beltone-recognized-for-its-train-to-sustain-initiative\/\">\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\/07\/beltone-recognized-for-its-train-to-sustain-initiative\/&title=Beltone recognized for its Train to Sustain initiative\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Beltone+recognized+for+its+Train+to+Sustain+initiative+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F07%2Fbeltone-recognized-for-its-train-to-sustain-initiative%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\/07\/beltone-recognized-for-its-train-to-sustain-initiative\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1221.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"654761\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/beltone-recognized-for-its-train-to-sustain-initiative\/1221-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1221.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1221.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1221.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1221.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654760\" class=\"content-area-description single-story post-654760 post type-post status-publish format-standard has-post-thumbnail hentry category-kudos tag-beltone-financial tag-enterpriseam tag-kudos tag-madinet-masr 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\/.108dbc89-b6d6-447a-ac4d-761529d67993.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Beltone recognized for sustainability and inclusion initiatives:<\/strong> Beltone Holding has won the \u2018Best Sustainability Practices for Commitment to Inclusion\u2019 award from the International Labour Organization in collaboration with the Federation of Egyptian Industries and the European Union, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/405.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The award celebrates Beltone\u2019s \u2018Train to Sustain\u2019 program, an initiative designed to train, upskill, and integrate 20 individuals with physical disabilities and down syndrome into Beltone\u2019s workforce \u2014- marking a significant step toward fostering a more inclusive work environment. <\/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>Also in the pipeline: <\/strong>\u201cOur ambition is to expand the program through an employment forum where we will share case studies about \u2018Train to Sustain\u2019 as a benchmark that can be replicated by some of the biggest corporations to create as many job opportunities as possible for talents with disabilities and individuals with down syndrome,\u201d Beltone\u2019s Chief People and Corporate Sustainability Officer Sherry Bishara said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Madinet Masr will help restore Bayt Al Razzaz:<\/strong> Real estate developer Madinet Masr will contribute to the restoration of the roof of 15th-century <a target=\"_blank\" href=\"https:\/\/aldarbalahmar.com\/explore\/9\" style=\"\" rel=\"noopener\">Bayt Al Razzaz<\/a>, a significant historical landmark in Darb Al Ahmar district, according to a company <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/573.pdf\" style=\"\" rel=\"noopener\">statement (pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/573.pdf\" style=\"\" rel=\"noopener\">)<\/a>. The restoration project \u2014 commencing in December \u2014 will be carried out in collaboration with the Egyptian Heritage Rescue Foundation and Kahhal Looms.<\/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\/beltone-financial\/\">Beltone Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madinet-masr\/\">Madinet Masr<\/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=\"654762\" 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=\"654762\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/amal-ammar-to-lead-the-national-council-for-women\/\">\r\n                            Amal Ammar to lead the National Council for Women                        <\/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\/07\/amal-ammar-to-lead-the-national-council-for-women\/\" 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\/07\/amal-ammar-to-lead-the-national-council-for-women\/')\">\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\/07\/amal-ammar-to-lead-the-national-council-for-women\/\">\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=Amal Ammar to lead the National Council for Women&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/amal-ammar-to-lead-the-national-council-for-women\/\">\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\/07\/amal-ammar-to-lead-the-national-council-for-women\/&title=Amal Ammar to lead the National Council for Women\">\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=Amal+Ammar+to+lead+the+National+Council+for+Women+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F07%2Famal-ammar-to-lead-the-national-council-for-women%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\/07\/amal-ammar-to-lead-the-national-council-for-women\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/602.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"654763\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/amal-ammar-to-lead-the-national-council-for-women\/602-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/602.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"602.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/602.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/602.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654762\" class=\"content-area-description single-story post-654762 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam tag-moves tag-national-council-for-women 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\/.6b06568d-89f1-43e0-bc66-e615ad93800a.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Amal Ammar appointed National Council for Women\u2019s new head:<\/strong> Assistant Minister of Justice for Human Rights, Women, and Children\u2019s Affairs and longtime judge Amal Ammar is now leading the National Council for Women (NCW) following her appointment by President Abdel Fattah El Sisi for a four-year term, the council <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/ncwegyptpage\/posts\/pfbid02akcH9y33g1r8MnUSvHLfziNoHFfquBx5z7XeHki6mZBMVM2wgfh3FXNFJMCYEpZUl\" style=\"\" rel=\"noopener\">announced<\/a> earlier this week. Ammar was one of the first 30 female judges appointed to the Egyptian judiciary and has a long-standing history working at the NCW, whose helm she takes over from Social Solidarity Minister Maya Morsy.<\/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\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-council-for-women\/\">National Council for Women<\/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=\"654764 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=\"654764\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/654764\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654764\" class=\"content-area-description single-story post-654764 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=\"654765\" 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=\"654765\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/global-firms-are-interested-in-egypts-oil-sector-plus-news-from-bonya-alex-container-telecom-egypt\/\">\r\n                            Global firms are interested in Egypt\u2019s oil sector                        <\/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\/07\/global-firms-are-interested-in-egypts-oil-sector-plus-news-from-bonya-alex-container-telecom-egypt\/\" 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\/07\/global-firms-are-interested-in-egypts-oil-sector-plus-news-from-bonya-alex-container-telecom-egypt\/')\">\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\/07\/global-firms-are-interested-in-egypts-oil-sector-plus-news-from-bonya-alex-container-telecom-egypt\/\">\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=Global firms are interested in Egypt\u2019s oil sector. PLUS: News from Bonya, Alex Container, Telecom Egypt&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/global-firms-are-interested-in-egypts-oil-sector-plus-news-from-bonya-alex-container-telecom-egypt\/\">\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\/07\/global-firms-are-interested-in-egypts-oil-sector-plus-news-from-bonya-alex-container-telecom-egypt\/&title=Global firms are interested in Egypt\u2019s oil sector. 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Anton expressed interest in learning more about potential investments in Egypt, while <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid02MWXwtbz6TA5UpnGPUuLy3zuuFWKdx6Sjsqgtsuj1UxiXZq5c79jksX6t1Zm9PRwBl\" style=\"\" rel=\"noopener\">Mubadala said<\/a> that it was considering participating in the Egyptian Natural Gas Holding Company\u2019s tender launched in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b3464fc-ef7b-4388-8ee0-a5b9c1c3a8e3\/abu-dhabi%25e2%2580%2599s-mubadala-energy-eyes%253cmark%253e-egas%253c%2Fmark%253e-exploration-tender.-plus:--egyptian-air-force-to-receive-two-c-130j-30-super-hercules-tactical-airlifters\" style=\"\" rel=\"noopener\">August<\/a>. Discussions with the companies took place on the sidelines of the ADIPEC 2024 conference in Abu Dhabi.<\/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>PLUS- Energean\u2019s USD 945 mn asset sale to Carlyle set to go through by year end:<\/strong> LSE-listed <a target=\"_blank\" href=\"https:\/\/www.energean.com\/\" style=\"\" rel=\"noopener\">Energean<\/a> confirmed in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid02nRvuJuuHRMAS1GkU34hquKTu4odoEf9XZn3EDfM7wUt3DtkAMsM3FGyf4jvtsSvwl\" style=\"\" rel=\"noopener\">meeting<\/a> with Oil Minister Karim Badawi that the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/35064806-85d5-4cca-bacc-ecec5128a6c5\/%253cmark%253ecarlyle%253c%2Fmark%253e-to-launch-mediterranean-energy-company-with-usd-945-mn-acquisition-of-energean%25e2%2580%2599s-egyptian,-croatian,-and-italian-assets\" style=\"\" rel=\"noopener\">USD 945 mn sale<\/a> of its Egyptian, Croatian, and Italian assets to global investment firm Carlyle is set to go through by the end of the year.<\/p><p class=\"tag-border-left\">MINING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New global mining tender to launch before year end: <\/strong>Egypt is set to launch a global tender for gold mining and exploration at approximately 200 sites in the Eastern Desert by the end of the year, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/wealth\/59239\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B7%D8%B1%D8%AD-%D9%85%D8%B2%D8%A7%D9%8A%D8%AF%D8%A9-%D8%B9%D8%A7%D9%84%D9%85%D9%8A%D8%A9-%D9%84%D9%84%D8%AA%D9%86%D9%82%D9%8A%D8%A8-%D8%B9%D9%86-%D8%A7%D9%84%D8%B0%D9%87%D8%A8-%D9%81%D9%8A-200-%D9%85%D9%86%D8%B7%D9%82%D8%A9-%D9%82%D8%B1%D9%8A%D8%A8%D8%A7\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing an anonymous government official. The tender will kick off once the House approves the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c561960-2f7a-4568-a4c9-11f0b54dc116\/oil-ministry-reaches--framework-mining-agreement-with-centamin,-barrick\" style=\"\" rel=\"noopener\">pending contract<\/a> for Centamin and Canadian company Barrick Gold\u2019s mineral exploitation areas in the Eastern Desert, initially awarded in 2021.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> We first heard about the tender back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/179241f9-d98f-4163-8f84-1ed70cc00d93\/gov%25e2%2580%2599t-wants-to-set-up-a-pharma-raw-material-hub.-plus:-news-from-opay,-telecom-egypt,-madinet-masr\" style=\"\" rel=\"noopener\">August<\/a>, with unnamed officials telling Al Mal that the government was preparing to launch an international tender for mineral exploration in Sinai, the Eastern Desert, and the Western Desert before the end of the year. The move comes amid a broader push to develop our mining sector, with Oil Minister Karim Badawi saying <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/94628b33-bb46-4e5b-9032-6b821a8936e8\/it%25e2%2580%2599s-the-last-week-of-daylight-savings-time\" style=\"\" rel=\"noopener\">last month<\/a> that the government is preparing a new mining strategy that it plans to unveil next month at the <a target=\"_blank\" href=\"https:\/\/miningconferences.org\/?gad_source=1&amp;gclid=Cj0KCQjwpvK4BhDUARIsADHt9sTVcsDWTGxkNysGtI5XPnT0MFyamDuIerIl2V-j7l3upmN0pJDOSNoaAjLGEALw_wcB\" style=\"\" rel=\"noopener\">Mining World Conference 2024<\/a> in London. This follows July\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6d572f59-2b27-4be1-a417-368f671f8ad3\/here%25e2%2580%2599s-what-you-missed-from-day-one-of-the-egypt%253cmark%253e-mining-forum%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">Egypt Mining Forum<\/a>, which saw a number of protocols signed to explore and develop our potential mineral resources.<\/p><p class=\"tag-border-left\"> REAL ESTATE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bonyan plans to acquire additional office spaces next year:<\/strong> Compass Capital real estate subsidiary Bonyan is planning on purchasing new administrative buildings next year and acquiring warehouses to lease to companies across different sectors at an undisclosed timeline, CEO Shamel Aboul Fadl told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/11\/05\/1840395\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The company will fund the purchases using funds acquired from its recent capital increase.<\/p><p class=\"tag-border-left\">M&amp;A WATCH-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An offer for OFH\u2019s fintech arm Klivvr<\/strong><strong>: <\/strong>Orascom Financial Holding (OFH) has received an offer for its entire 98.99% stake in fintech player Klivvr, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/571.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The offer came from a company dubbed Klivvr Holding, which offered to buy OFH\u2019s 59.4 mn shares at EGP 11.1 apiece, putting the total transaction value at EGP 658.7 mn. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Selling off OFH\u2019s stake in Klivvr has been on the agenda since B Investments <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/06c1b449-2601-4a3a-8415-e439ad2273ec\/%253cmark%253eb-investments%253c%2Fmark%253e-to-soon-snap-up-a-70%2525-stake-in-orascom-financial-holding.-plus:-al-ahly-capital-holding-acquires-51%2525-stake-in-easy-lease\" style=\"\" rel=\"noopener\">acquired<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/06c1b449-2601-4a3a-8415-e439ad2273ec\/%253cmark%253eb-investments%253c%2Fmark%253e-to-soon-snap-up-a-70%2525-stake-in-orascom-financial-holding.-plus:-al-ahly-capital-holding-acquires-51%2525-stake-in-easy-lease\" style=\"\" rel=\"noopener\">70% of the holding company<\/a> earlier this year in a share swap agreement. <\/p><p class=\"tag-border-left\">EARNINGS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alex Container and Cargo Handling saw its net income rise 88% y-o-y <\/strong>to EGP 1.8 bn during the first quarter of FY 2024-2025, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/552.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The EGX-listed company\u2019s revenues grew 75% y-o-y during the same period to EGP 1.9 bn.<\/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- Medical Packaging Company is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/11\/05\/1840342\" style=\"\" rel=\"noopener\">looking to invest up to EGP 140 mn<\/a><\/strong><strong> to add three new <\/strong><strong>production lines<\/strong> to its operations. The company is in advanced talks with three banks to secure the necessary funds for the new lines. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Telecom Egypt and Alcatel Submarine Networks <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ir.te.eg\/en\/CorporateNews\/PressRelease\/208\/Telecom-Egypt-Announces-Africa-1-Subsea-Cable-System-Landing-in-Egypt\" style=\"\" rel=\"noopener\">have completed the landing<\/a><\/strong> of the Africa-1 subsea cable system at the Ras Ghareb cable landing station. The second landing will be on Egypt\u2019s Mediterranean and will \u201cenhance global connectivity by providing diversity and resiliency while significantly bolstering broadband traffic capacity.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Helping KSA with its localization push:<\/strong> Elsewedy Electric <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/ahmed-elsewedy-a16132194_energy-energytransition-elsewedyelectricksa-activity-7259889041624473600-Fdpj\/?utm_source=share&amp;utm_medium=member_desktop\" style=\"\" rel=\"noopener\">partnered with KSA\u2019s<\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/ahmed-elsewedy-a16132194_energy-energytransition-elsewedyelectricksa-activity-7259889041624473600-Fdpj\/?utm_source=share&amp;utm_medium=member_desktop\" style=\"\" rel=\"noopener\">Abunayyan Holding<\/a> to produce high and extra-high voltage power transformers in the Saudi market. The company also launched a procurement tender with Saudi Electricity Company for the domestic production of medium-voltage cable accessories. <\/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\/b-investments\/\">B Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elsewedy-electric\/\">Elsewedy Electric<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/equities-currencies-and-bonds-react-to-trumps-reelection\/\">\r\n                            Equities, currencies, and bonds react to Trump\u2019s reelection                        <\/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\/07\/equities-currencies-and-bonds-react-to-trumps-reelection\/\" target=\"_blank\">\n   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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"654768\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/equities-currencies-and-bonds-react-to-trumps-reelection\/599-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/599.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"599.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/599.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/599.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654767\" class=\"content-area-description single-story post-654767 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\/.893b9a95-b5a5-40e0-9c89-bb1759af3349.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Markets react to Trump\u2019s reelection: <\/strong>Donald Trump has been elected to his second nonconsecutive term at the White House leaving investors, traders, and policymakers speculating what that could mean for financial markets. The reaction to Trump\u2019s win was immediate with equities, currencies, and bonds all seeing wild swings. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want a recap of what went down yesterday? <\/strong>Wednesday\u2019s issue of EnterprisePM dove into Trump\u2019s victory and what we can expect from another four years of Trump in the White House. Check out the issue <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/pm\/d61e11ba-34fe-4103-b273-abf3f03e1c37\/he%25e2%2580%2599s-back\" style=\"\" rel=\"noopener\">here<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investor sentiment surged<\/strong> following Trump\u2019s decisive win. \u201cFor now, investor sentiment is pro-growth, pro-deregulation, and pro-markets,\u201d Bahnsen Group\u2019s David Bahnsen told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-05\/stock-market-today-dow-s-p-live-updates?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. \u201cFinally, US stocks may see tailwinds from not only the election results but a retreat in volatility hedging, corporations moving out of their buyback blackout periods as the earnings season winds down, and strong fourth-quarter seasonality factors (particularly in election years),\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-05\/stock-market-today-dow-s-p-live-updates?srnd=homepage-middle-east&amp;embedded-checkout=true\" style=\"\" rel=\"noopener\">said<\/a> Ameriprise\u2019s Anthony Saglimbene.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Stock markets hit record highs:<\/strong> US stocks soared to fresh highs \u2014 the S&amp;P 500 climbed 2.5%, setting its 48th high of the year, the Dow Jones surged 3.6%, and the Nasdaq was up 2.7%. The Russell 2000 index of smaller companies outperformed all of its counterparts, rising 5.6% as investors banked on Trump\u2019s stance in favor of domestically concentrated businesses.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The USD soars:<\/strong> The USD surged, posting its best one-day performance since 2022, with the Bloomberg USD Spot Index rising 1.3%. The greenback\u2019s ascent sent major currencies reeling; the EUR fell 1.8%, marking its steepest one-day drop in over four years, while the JPY fell 1.9%. The GBP slipped 1.2%, marking broad pressure on non-USD currencies.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not all is convinced the USD rally is here to stay:<\/strong> Trump\u2019s policies on trade and tariffs are seen as \u201cUSD-positive,\u201d Tradu\u2019s analyst Nikos Tzabouras told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/currencies\/dollar-climbs-trump-makes-early-gains-exit-polls-bitcoin-rises-2024-11-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. However, he argued that Trump \u201chad essentially challenged the long standing strong USD mantra, because he prefers a weaker currency to help with exports and American economic activity,\u201d which could temper this rally.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bond markets brace for volatility:<\/strong> Treasury yields spiked, as investors reassessed the Federal Reserve\u2019s path forward under Trump\u2019s leadership. The 10-year Treasury yield hit its peak in five months, rising 21 basis points to 4.48%, driven by expectations of tax cuts and tariffs potentially triggering inflation. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Crypto rides the Trump wave:<\/strong> BTC soared nearly 9%, hitting a record high of over USD 76k as investors linked Trump\u2019s victory to potential crypto-friendly policies. ETH followed suit, rising 10%. Trump\u2019s support for digital assets during his campaign has fueled optimism in the sector, bolstering market confidence.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mixed macro outlook as optimism meets caution:<\/strong> While markets are enjoying a wave of optimism, analysts caution that \u201cthe backdrop is complex.\u201d Concerns about budget deficits, inflation, and fewer-than-expected Fed rate cuts are acting as counterbalances to the current bullish trend. Thierry Wizman at Macquarie advised traders to be mindful about pushing \u201cthe yield story much further,\u201d as anticipated fiscal restraint could alter bond market dynamics.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The international press is abuzz with Trump\u2019s victory and what it means for financial <\/strong><strong>markets:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/sp-500-futures-soar-record-high-after-trump-claims-victory-2024-11-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-05\/stock-market-today-dow-s-p-live-updates?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d7e6b4e9-7901-43ed-8402-02971be0e549\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/c6246e3w935o\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/11\/06\/europe-markets-live-updates-us-election-reaction-and-stock-moves.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/11\/05\/business\/election-stock-markets.html\" style=\"\" rel=\"noopener\">NYT<\/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>Asian markets are mixed in early trading this morning<\/strong>, as investors digest Trump\u2019s reelection. The Nikkei is down 0.2%, while the Kospi is up 0.2%. The Shanghai is up 0.4% and Hang Seng is looking at gains of 0.8%.<\/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\">31,045<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8% (YTD: +24.7%)<\/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 49.17<\/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 49.30<\/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 49.17<\/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 49.27<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,093<\/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: +1.1%)<\/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>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\">9,425<\/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: -1.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,616<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +13.7%)<\/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>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\">5,929<\/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\">+2.5% (YTD: +24.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,167<\/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: +5.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,801<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.4% (YTD: +6.2%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 74.92<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8%<\/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 2.73<\/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>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 2,669<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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 75,730<\/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\">+8.8% (YTD: +79.0%)<\/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 0.8% at yesterday\u2019s close<\/strong> on turnover of EGP 4.2 bn (1.7% above the 90-day average). International investors were the sole net sellers. The index is up 24.71% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Cleopatra Hospitals (+5.5%), Edita (+5%) and Emaar Misr (+4.6%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Telecom Egypt (-1.6%), Juhayna (-0.5%) and Heliopolis Housing (-0.5%).<\/p><p class=\"tag-border-left\">CORPORATE ACTIONS- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Eipico will raise its authorized capital to EGP 6 bn from EGP 1.5 <\/strong>and its issued and paid-up capital by EGP 200 mn to around EGP 1.7 bn, distributed over 20 mn shares, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/547.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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<section id=\"654769\" 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=\"654769\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/my-morning-routine-ahmed-el-banna-founder-and-ceo-lighthouse-construction\/\">\r\n                            My Morning Routine: Ahmed El Banna, founder and CEO, Lighthouse Construction                        <\/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\/07\/my-morning-routine-ahmed-el-banna-founder-and-ceo-lighthouse-construction\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Speaking to us this week is founder and CEO of Lighthouse Construction, Ahmed El Banna (<a target=\"_blank\" href=\"https:\/\/eg.linkedin.com\/in\/ahmed-el-banna-9b2b6529\" style=\"\" rel=\"noopener\">LinkedIn<\/a>). Edited excerpts from our conversation: <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My name is Ahmed El Banna. <\/strong>I\u2019m the founder of Lighthouse Construction and the CEO of two companies, including Lighthouse, and the managing partner of a third. I\u2019m 35, married, and a new dad to a baby boy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All of our work centers around construction:<\/strong> We have a holding company, an aluminum factory, and Lighthouse Construction. The aluminum factory produces and fabricates aluminum products like facades and windows. Lighthouse handles all aspects of construction for our clients, providing a full turnkey solution from design to execution. Whether a client wants to develop an apartment, office, or commercial space, Lighthouse brings their concept to life.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My day job focuses on anything and everything strategy-related in the organization.<\/strong> My role focuses on strategy and overseeing every department to ensure we\u2019re on the right track. I manage both current and future projects, and keep an eye on our finances to make sure we\u2019re always moving forward. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Problem solving is something I have to do almost everyday,<\/strong> whether with issues that arise in the marketing, finance, or business development departments. My job is to guide the team toward a resolution and provide the direction needed to keep things running smoothly.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I didn\u2019t start my career in construction. <\/strong>After college, I worked as an investment banker in Boston, jumping between a few banks before returning to Cairo. I continued in investment banking here, working for a firm under then-investment minister Ashraf Salman. But I struggled to find my footing in Egypt\u2019s investment banking landscape \u2014 it was not the right time, given the revolution and political changes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I strongly believe in \u2018learning by doing.\u2019<\/strong> There are many people who study something in school and end up doing something completely different. I can say that I have already accomplished a lot by doing in my career \u2014 and of course I had my father\u2019s backing and years of family know-how that helped me start my business. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My family has been in the real estate development business since the 1970s, and after <\/strong><strong>leaving investment banking I was looking to get into the construction space.<\/strong> I started working with my father and then I found my own footing as the industry grew in Egypt. There was a lot of money being poured into infrastructure and construction projects, and with my family expertise in real estate, I decided to open a business that correlates with this sector, starting both Lighthouse Construction and the aluminum factory at roughly the same time. There were many opportunities in the market and a gap for real, professional, fit-out construction companies that could measure up to the high-end designers and large-scale projects that were coming out. I saw this market gap and that's what inspired my company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Modernization is the biggest trend in the construction industry right now.<\/strong> The whole market is really being uplifted, with multiple local and international companies moving into the space and bringing modern takes on construction with them. We\u2019re keeping up with these modernization trends in Egypt, with improvements to finishings and construction as a whole. All industry players are trying to move forward and are looking to use new materials. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I wake up and I\u2019m directly on the phone.<\/strong> My wife definitely doesn\u2019t like it, but there are a lot of very early morning phone calls. I discuss any urgent issues and updates with the project managers on-site, and then I start setting up my day. I get ready, and then I take some time to play with my kid. I try to spend as much time as I can with him in the mornings before the office. It\u2019s the best part of my day. At this age a couple of his smiles give me the biggest boost I need \u2014 knowing that I have this little guy to come home to at the end of the day really is a motivation of its own. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I then go through my important emails, including the EnterpriseAM newsletter.<\/strong> It's important to see what the news is like each morning, and I especially enjoy reading other people's stories. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Every work day in the construction sector starts with troubleshooting.<\/strong> I wake up to issues in different sites, and I have to manage the progress of each ongoing project and set daily to-dos with the respective project managers of each site. After that, I tackle any problems as they come in a timely manner. A lot of it also includes having meetings with representatives from companies we are currently working with. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our biggest project now is with the Italian oil giant Eni<\/strong>, so if I am not on-site there I would be at the office tackling issues, setting up project milestones, and organizing progress meetings with our Italian counterparts. The latter part of the day is for planning the week ahead, including procurements and resource allocations across different projects. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>From a business perspective, the one constant in my day is tackling problems with a <\/strong><strong>cool head.<\/strong> As in life, I believe it\u2019s important to keep your cool when trying to solve problems. It could be a delayed contractor, materials that are not coming in fast enough, or a milestone that we\u2019re behind on, but we believe that whatever problems arise, we have to take them on calmly with the goal of fixing them in a timely fashion. As a CEO that\u2019s my main focus everyday, and I believe that my job mainly relies on keeping everything harmonious, and everyone in the company aligned and focused. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A checklist is what keeps me focused and organized.<\/strong> I like to write down all the tasks I have to complete, and all the goals I need to focus on, and then just chip away at them one at a time. I set these daily, but I also have one for the week. That\u2019s honestly how I keep myself sane.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a personal level, I am looking to spend as much as I can with my family.<\/strong> I want to be there for my son and to try and give him the best life possible. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Professionally, I would like to grow all my companies going forward to become the <\/strong><strong>market leader in aluminum fabrication and construction.<\/strong> The goal is to separate ourselves from the competition and to continue to expand into larger projects, improving our brand name and portfolio. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Work-life balance really is a challenge.<\/strong> When running a company you\u2019re working almost 24 hours a day. I\u2019m on the phone most of the time, even after my work day is over. Even weekends are a struggle because it\u2019s not a nine-to-five, you have many responsibilities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Spending time with my friends and family is how I like to switch-off. <\/strong>I enjoy going out with my family to have a nice meal, meet some friends, unwind and spend the day together. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A book that I believe has been very influential in my life is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/book\/show\/4865.How_to_Win_Friends_Influence_People\" style=\"\" rel=\"noopener\">How to Win Friends and<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/book\/show\/4865.How_to_Win_Friends_Influence_People\" style=\"\" rel=\"noopener\">Influence People<\/a><\/strong><strong> by Dale Carnegie.<\/strong> I would recommend this book for anyone who wants to succeed. I believe a big part of success will always be how you deal with people, and no matter what business you are in, you will have to learn how to deal with colleagues, employees and employers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The best piece of advice I\u2019ve received came from my father<\/strong>, which was to always give 100% focus to what I do everyday. Work is extremely important for success and the most important thing is not giving up. He taught me that often things can be very tough as a business owner, you can have tough times like cash squeezes and problems at work, but what gets you through it is resilience.<\/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\/ahmed-el-banna\/\">Ahmed El Banna<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/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=\"654771\" 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\/07\/654771\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654771\" class=\"content-area-description single-story post-654771 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 style=\"font-weight:400;\">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 style=\"font-weight:400;\">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>Reserves on the rise | Easing vehicle imports | Request to list | Fuel subsidies up.<\/p>\n","protected":false},"featured_media":654743,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-654742","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d698f9bc-bc2d-4e9f-9410-efd758c226ec","teaser":"Reserves on the rise | Easing vehicle imports | Request to list | Fuel subsidies 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