{"id":654941,"date":"2024-11-11T00:00:00","date_gmt":"2024-11-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=654941"},"modified":"2025-12-18T01:13:44","modified_gmt":"2025-12-18T01:13:44","slug":"inflation-inches-up-0-1-percentage-point-to-26-5-y-o-y-in-october-marking-third-consecutive-monthly-rise","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/inflation-inches-up-0-1-percentage-point-to-26-5-y-o-y-in-october-marking-third-consecutive-monthly-rise\/","title":{"rendered":"Inflation inches up 0.1 percentage point to 26.5% y-o-y in October, marking third consecutive monthly rise"},"content":{"rendered":"<section id=\"654943\" 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=\"654943\">\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\/11\/labor-act-to-top-govts-legislative-agenda\/\">\r\n                            Labor Act to top govt\u2019s legislative agenda                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/711.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"654944\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/11\/labor-act-to-top-govts-legislative-agenda\/711-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/711.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"711.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/711.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/711.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654943\" class=\"content-area-description single-story post-654943 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-labor tag-legislation 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\/.4be51326-9379-42e1-917f-c68fe0b5848b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends<\/strong><strong>. <\/strong>In today\u2019s issue, we\u2019ve got news that inflation is up, arrears to energy companies are down, and that momentum to pass the redrafted Labor Act is building.<\/p>\n<p class=\"tag-border-left\">PSA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>It\u2019s feeling much the same as yesterday in Cairo today, with a high of 24\u00b0C and a low of 18\u00b0C, according to our favorite weather app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a smidge cooler in Alexandria<\/strong>, with a high of 22\u00b0C and a low of 17\u00b0C, along with a chance of light to moderate rain across the whole of the North Coast.<\/p>\n<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>\n<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>\n<p class=\"tag-border-left\">WATCH THIS SPACE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a>  <strong>#1- Labor Act to top<\/strong><strong> the government\u2019s legislative agenda:<\/strong> The Madbouly government wants to see the newly-redrafted labor bill passed into law before the end of 2024, Parliamentary Affairs Minister Mahmoud Fawzi told the Senate yesterday. The 267-article bill was redrafted following several rounds of consultations with workers and business owners, to \u201creflect the interests of three parties: the government, workers and employers,\u201d according to Fawzi.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher:<\/strong> The act drafted <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ae083a4f-781c-443d-ad37-ab705d0103ee\" style=\"\" rel=\"noopener\">earlier this year<\/a> triggered <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8154336d-5f19-46c1-8a9c-ac176dc579c0\" style=\"\" rel=\"noopener\">criticism<\/a> from business associations, who argued that the \u201cdraft law is unbalanced, giving workers a lot of rights at the expense of duties.\u201d The Federation of Egyptian Industries voiced its opposition to 17 articles in the bill, including those relating to strikes, holidays for women in the workplace, and salaries, employment contracts, bonuses, and membership of businessmen in the proposed rehabilitation and training fund. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Progress on the new<\/strong><strong> re-draft:<\/strong> The legislation will tackle shortcomings in the current law and regulate work conditions through digital platforms, Labor Minister Mohamed Gobran told the Senate. The House Manpower Committee \u2014 which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/33568309-a50d-4297-8ccf-e4f586fdbd17\/\" style=\"\" rel=\"noopener\">provisionally approved<\/a> the redrafted bill last month \u2014 has so far greenlit 63 articles covering child labor, recruitment, women in the workplace, maternity leave, working hours, and the establishment of a training fund. The House will reconvene on 17 November.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- ERC to pay down a further USD 150 mn of primary net loans by year-end: <\/strong>Qalaa Holdings\u2019 subsidiary Egyptian Refining Company (ERC) plans to repay another USD 150 mn of its primary net loans by the end of this year, bringing its outstanding primary net loans to USD 375 mn, Qalaa Holdings founder and chairman Ahmed Heikal told <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1855538062291317136\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. Heikal also noted that ERC\u2019s capacity has increased by 10%, with plans for an additional 15% boost over the next four years at a potential cost of USD 200 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Yesterday we got word that ERC was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4230aad9-3678-48a8-8585-c65e8a819820\/kazyon-to-fuel-morocco-expansion-plans-with-usd-30-mn-from-the-ifc\" style=\"\" rel=\"noopener\">planning to repay<\/a> USD 200 mn of its outstanding USD 742 mn debt, bringing the company's total debt down to USD 524 mn. Qalaa has been trying to pay off USD 2.4 bn worth of loans for its multi-bn USD greenfield refinery in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5799a8e8-414d-41a5-8824-b0ee3ee1edd4\" style=\"\" rel=\"noopener\">Mostorod<\/a>, with the company\u2019s 1Q 2024 earnings release <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bb3f2680-950c-45c3-b9e6-8cf85f4bc605\/%253cmark%253eqalaa-holdings%253c%2Fmark%253e-sees-revenues,-income-rise-in-1q-2024\" style=\"\" rel=\"noopener\">showing<\/a> that 72.5% of the company\u2019s total consolidated debt of EGP 111.2 bn was related to ERC.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Still no EGX debut on the horizon:<\/strong> Qalaa has no intention of listing ERC\u2019s shares on the EGX for the meantime, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/11\/10\/1841853\" style=\"\" rel=\"noopener\">Al Borsa<\/a> writes, citing Heikal, who added that the company is still committed to planned expansions.<\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a>  <strong>#1- CBE is holding a USD t-bill auction: <\/strong>The Central Bank of Egypt will auction USD 1.5 bn in USD-denominated, one-year t-bills today, according to its <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/auctions\/usd-t-bills\" style=\"\" rel=\"noopener\">website<\/a>. The auction will mark the first USD-denominated t-bill auction for the current fiscal year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>The central bank\u2019s decision to hit the bond market comes just one day after the country <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4230aad9-3678-48a8-8585-c65e8a819820\/kazyon-to-fuel-morocco-expansion-plans-with-usd-30-mn-from-the-ifc\" style=\"\" rel=\"noopener\">repaid some USD 1.3 bn in USD-denominated bonds<\/a> for a tranche of bonds issued back in 2016.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#2- It\u2019s day one of the Arab-African Investment and Cooperation Summit:<\/strong> The five-day Arab-African Investment and International Cooperation Summit that kicks off today in Aswan <a target=\"_blank\" href=\"https:\/\/sis.gov.eg\/Story\/197901\/The-27th-Edition-of-the-Arab-African-Investment-and-International-Cooperation-Summit-and-Exhibition?lang=en-us\" style=\"\" rel=\"noopener\">will welcome<\/a> delegations from 35 countries. The summit will reportedly witness a tourism investment project and two new factory projects with input from Russian and Serbian capital announced at the event.<\/p>\n<p class=\"tag-border-left\">DATA POINT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The hospitality sector is expected to add 1.2k new keys to Cairo\u2019s existing <\/strong><strong>26.7<\/strong><strong>k <\/strong><strong>key stock by the end of 4Q 2024, <\/strong>according to a recent <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/826.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a> from global real estate consultancy JLL. <\/p>\n<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<\/p><\/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>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing, we looked at how higher energy costs are pushing industry toward solar. Check out the story <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/110bcd58-a41e-4fcf-a017-94234a592187\/\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s no single story capturing the imagination of the international press this morning<\/strong>, instead giving us a smattering of stories about US president-elect Donald Trump\u2019s plans in office and how global leaders are reacting to his upcoming term. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Trump\u2019s policy on Russia and Ukraine is a key point of concern<\/strong> for Ukraine, Russia, and outgoing president Joe Biden, who is planning to lobby Trump to maintain the US\u2019 support for Ukraine when the two meet at the Oval Office on Wednesday. Trump, meanwhile, reportedly spoke with Russian President Vladimir Putin, but urged him not to escalate his war against Ukraine, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/biden-will-discuss-with-trump-top-us-priorities-wednesday-2024-11-10\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- BTC rallied to a record high<\/strong> as the crypto industry sees Trump\u2019s election \u2014 including him securing all seven swing states \u2014 as a positive outcome that will see digital currencies facing less hostile policy. The cryptocurrency rose above USD 81k, with expectations it will break the USD 90k ceiling soon. The <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/170785ce-68e5-4de5-88bc-168a9a7fa3ed\" style=\"\" rel=\"noopener\">Financial Times<\/a> and <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/11\/10\/over-2point8-billion-bet-on-bitcoin-topping-90000-as-it-hits-all-time-high.html\" style=\"\" rel=\"noopener\">CNBC<\/a> have more. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2495.jpg?ssl=1\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue:<\/strong> We talk to Beltone Holding\u2019s Chief Data Scientist Basma Rady about the company\u2019s first AI hackathon. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/labor\/\">labor<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"654945 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"654945\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/11\/654945\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654945\" class=\"content-area-description single-story post-654945 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1544.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Somabay<\/span><span style=\"\">, every reason to fall in love.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"654946\" 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=\"654946\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/11\/inflation-rises-for-the-third-consecutive-month-to-26-5\/\">\r\n                            Inflation in Egypt rises for the third consecutive month to 26.5%                        <\/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\/11\/inflation-rises-for-the-third-consecutive-month-to-26-5\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The increase follows a modest 0.2 percentage point rise in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c7c709e1-e024-43f6-891f-8690610c2724\/%253cmark%253einflation%253c%2Fmark%253e-accelerates-for-a-second-month-in-september-to-26.4%2525\" style=\"\" rel=\"noopener\">September to 26.4%<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the increase: <\/strong>\u201cHalf of the basket\u2019s items recorded deceleration, other remained flat with only three items recording notable annual acceleration, namely clothing &amp; footwear, housing &amp; fuel, and medical care,\u201d Al Ahly Pharos analyst Esraa Ahmed wrote in a note seen by EnterpriseAM. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Food and beverage inflation continued to retreat: <\/strong>Food and beverage prices \u2014 the largest component of the basket of goods and services used to calculate headline inflation \u2014 continued to rise but at a softer rate of 27.3% y-o-y in October, down 0.4 percentage points from a month prior. On a m-o-m basis, food prices climbed only 1.1%, down from September\u2019s 2.6%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite the slight jump, October\u2019s reading comes much lower than expected: <\/strong>A Reuters poll of 17 analysts <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ba456530-84e8-4f51-b12d-40a44eb76292\/old-rent-law-set-for-an-overhaul%3F\" style=\"\" rel=\"noopener\">expected headline inflation to accelerate 0.6 percentage points<\/a> to 27.0% y-o-y in October, with fingers firmly pointed at fuel price hikes that came into effect during the month and education costs. Closer to the mark was economist Mona Bedair, penciling in 26.8% in a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7261291583730290688\/\" style=\"\" rel=\"noopener\">note<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Inflation is yet to feel the pinch from rising fuel and education costs: <\/strong>While the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e1e29b9-af1f-412d-9492-354ca6e76353\" style=\"\" rel=\"noopener\">mid-October fuel price hike<\/a> of up to 17% and rising education costs were expected to weigh heavily on October\u2019s inflation reading, their impact has largely been deferred. Education-related expenses will be reflected in February\u2019s 2025 data, coinciding with second semester school fees, Naeem Holding\u2019s Hesham Hamdey told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/financial-markets\/59970\/%D8%AA%D8%B3%D8%A7%D8%B1%D8%B9-%D8%B7%D9%81%D9%8A%D9%81-%D9%84%D9%85%D8%B9%D8%AF%D9%84-%D8%A7%D9%84%D8%AA%D8%B6%D8%AE%D9%85-%D8%A8%D9%85%D8%AF%D9%86-%D9%85%D8%B5%D8%B1-%D9%81%D9%8A-%D8%A3%D9%83%D8%AA%D9%88%D8%A8%D8%B1\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. Bedair similarly added that \u201cthe fuel basket adjustments do not appear to reflect the recent mid-October fuel price hikes.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Annual core inflation \u2014 which excludes volatile items like food and fuel \u2014 continued to<\/strong><strong> slow<\/strong>, with the Central Bank of Egypt <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/economic-research\/statistics\/inflation-rates\" style=\"\" rel=\"noopener\">recording<\/a> an annual core inflation of 24.4% in October, down 0.6 percentage points from the month before. However, monthly core inflation continued its upward trend, picking up 0.3 percentage points to 1.3% throughout the month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Analysts are already split on which way inflation will go in November: <\/strong>Bedair expects inflation \u201cto begin a downward trajectory in November, with pressures expected to ease further,\u201d despite that \u201cnext month\u2019s reading will still reflect the impact of the recent increases in fuel and tobacco prices.\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-10\/egyptian-inflation-slightly-quickens-for-a-third-straight-month\" style=\"\" rel=\"noopener\">Bloomberg<\/a> on the other hand, sees inflation \u201clikely\u201d picking up in November as recent fuel price hikes will be fully reflected in the new data set, bolstered by <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4230aad9-3678-48a8-8585-c65e8a819820\/kazyon-to-fuel-morocco-expansion-plans-with-usd-30-mn-from-the-ifc\" style=\"\" rel=\"noopener\">cigarette price hikes<\/a> from tobacco giant Eastern Company. Some others, including Hamdey, see falling fruit and vegetable prices as potentially offsetting additional pressures from fuel price hikes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Inflationary pressures could ease going forwards if back-to-back subsidy cuts get put on <\/strong><strong>pause: <\/strong>The government is in negotiations with the International Monetary Fund to delay the implementation of the plan to phase out subsidies. 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 carries out its <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>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Don\u2019t expect rate cuts before the new year:<\/strong> October\u2019s inflation data could strengthen the case for the Central Bank of Egypt to keep rates <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c4bed02c-b3fa-4955-ae1b-a01331a235c6\/central-bank-holds%253cmark%253e-interest-rates%253c%2Fmark%253e-in-line-with-expectations\" style=\"\" rel=\"noopener\">unchanged for the fifth consecutive meeting<\/a> when it meets later this month, most analysts seemed to agree. Ahmed argued that the new numbers \u201cunderscore our view of stable states rates \u2018until further notice.\u2019\u201d <\/p>\n\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\/capmas\/\">CAPMAS<\/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\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n          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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=\"654949\">\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\">A MESSAGE FROM AUC SCHOOL OF BUSINESS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/11\/championing-innovation-and-leadership-auc-school-of-business-executive-mba\/\">\r\n                            Championing innovation and leadership: AUC School of Business Executive MBA                        <\/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\" 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data-image-title=\"940.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/940.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/940.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654949\" class=\"content-area-description single-story post-654949 post type-post status-publish format-standard has-post-thumbnail hentry category-a-message-from-auc-school-of-business tag-auc tag-enterpriseam 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\/.7830f7ef-d3db-46c9-b6bb-ada2673757aa.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Empowering Leaders: The AUC Executive MBA Journey<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The AUC School of Business cultivates exceptional leaders and innovators through its comprehensive Executive Master of Business Administration (EMBA) program. Tailored for executives with at least eight years of experience, the EMBA combines rigorous academic training with practical insights, equipping participants to navigate today\u2019s complex business landscape.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Tapping into Global Opportunities<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The MBA program enhances innovation, leadership, and problem-solving skills in management education through collaboration with esteemed institutions such as Kellogg School of Management in the USA, China Europe International Business School (CEIBS), University of Stellenbosch (USB) in South Africa, the Center for Creative Leadership (CCL), and Antwerp Management School (AMS) in Belgium. This partnership not only enriches participants\u2019 knowledge and skills but also provides access to some of the world\u2019s leading business arenas.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Students benefit from a comprehensive view of the global business landscape, learning from a diverse faculty hailing from Europe, the United States and Egypt. The program comprises two international live-in weeks in two different continents. Additionally, the EMBA stresses the importance of understanding local and African contexts, featuring a dedicated module focused on the continent.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Unlock Your Potential with Fellowships<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The AUC School of Business supports exceptional students by helping them overcome financial barriers through a range of fellowship opportunities. These awards are available in four categories designed for exceptional leaders, innovative entrepreneurs, dedicated women professionals, and international students who have made significant contributions to their fields. The fellowships emphasize excellence and impact, encouraging candidates to showcase their achievements and potential for growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Alumni Triumphs<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Reflecting on her journey through the EMBA program, Noha Marghany, Chief Operating Officer at 2B Egypt expressed, \u201cBeing part of the AUC EMBA program was definitely a game-changer in my professional career. It equipped me with cutting-edge business knowledge and leadership skills, assisting me in making strategic decisions for my company on a day-to-day basis.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Participants engage in a dynamic learning environment that fuels collaboration. Shaden Al Rimaly, Head of the Meeza Scheme at the Egyptian Banks Company, highlighted the program's collaborative spirit, \u201cThe insights and experiences shared by my peers were just as impactful as the lessons from the faculty.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Abdalla Elsayed, Senior Director and Chairman of the Audit Committee in Saudi Arabia emphasized, \u201cThe EMBA is not just a degree; it's a catalyst for lifelong learning and professional excellence.\u201d This aligns perfectly with the AUC School of Business\u2019s vision to empower individuals through transformative education that transcends borders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Through its robust programs and fellowships, the AUC School of Business continues to pave the way for future leaders, contributing to sustainable growth and development across Africa and beyond.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a target=\"_blank\" href=\"https:\/\/www.aucegypt.edu\/academics\/graduate-programs\/executive-mba\" style=\"\" rel=\"noopener\">Learn more about the EMBA program and fellowship options<\/a> <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/auc\/\">AUC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"654951\" 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=\"654951\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/11\/egypt-has-paid-78-of-its-arrears-to-foreign-oil-and-gas-companies-since-march\/\">\r\n                            Egypt has paid 78% of its arrears to foreign oil and gas companies since March                        <\/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 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<\/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\/11\/egypt-has-paid-78-of-its-arrears-to-foreign-oil-and-gas-companies-since-march\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/877.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"654952\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/11\/egypt-has-paid-78-of-its-arrears-to-foreign-oil-and-gas-companies-since-march\/877-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/877.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"877.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/877.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/877.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654951\" class=\"content-area-description single-story post-654951 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-debt tag-energy tag-enterpriseam tag-oil-and-gas 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\/.510a5a23-d589-42ef-9d77-bf97cfca8d24.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The government now only has USD 1 bn in outstanding arrears to foreign oil and gas<\/strong><strong> companies<\/strong>, after having cleared another USD 1 bn in arrears last week, an unnamed government source told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/power\/59854\/%D9%85%D8%B5%D8%B1-%D8%B3%D8%AF%D8%AF%D8%AA-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D9%85%D9%86-%D9%85%D8%B3%D8%AA%D8%AD%D9%82%D8%A7%D8%AA-%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D8%A7%D9%84%D8%A3%D8%AC%D9%86%D8%A8%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> <strong>. <\/strong>Egypt has cleared USD 3.5 bn in arrears since March, marking a 77.8% reduction in the government\u2019s outstanding arrears over a seven-month period by our math.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Clearing arrears is part of a larger plan to increase local production <\/strong>following a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/454b221a-69a5-4435-864e-86f3fc55f90e\/government-pledges-to-end-power-cuts-by-third-week-of-july-with-usd-1.2-bn-set-aside-for%253cmark%253e-energy%253c%2Fmark%253e-imports-and-other-initiatives\" style=\"\" rel=\"noopener\">costly few months<\/a> of energy imports to bridge the gap between local production and demand that emphasized the need to get the country\u2019s energy production back on track. Alongside efforts to proactively clear arrears, the Oil Ministry is now <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/76e0292b-903e-44ce-a127-021c00848173\/new-energy-incentives-aim-to-boost-domestic-production-and-foreign-investment\" style=\"\" rel=\"noopener\">offering new incentives<\/a> to energy players that include increasing production sharing ratios with foreign companies in exchange for new investments, enhancing exploration efforts, and increasing extraction rates with the aim of boosting local production starting 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It seems that the Oil Ministry\u2019s efforts are already bringing home the goods<\/strong>, with several international energy giants recommitting to the country with big-ticket investments. Among these are Italian energy giant Eni that is set to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4f0ab22-1b09-45e1-840b-ef77e13a8fa1\/drilling-operations-in-zohr-to-resume-in-december\" style=\"\" rel=\"noopener\">resume drilling<\/a> at the Zohr gas field in December of this year, with the arrival of a rig to drill two new wells. We also recently found out from unconfirmed reports that US gas giant Chevron is set to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/887bda04-8b49-4e5e-8c3a-9b77507f2781\/%253cmark%253echevron%253c%2Fmark%253e-to-start-drilling-a-new-gas-well-soon.-plus:-news-from-nbe,-raya-it\" style=\"\" rel=\"noopener\">begin drilling its Singer exploratory gas well<\/a> in the Mediterranean this month with investments of USD 150 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And it looks like there\u2019s more energy investment news in the pipeline<\/strong> \u2014 excuse the pun \u2014 with Emirati oil and gas giant Dana Gas recently saying in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/755.pdf\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/755.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> accompanying its latest earnings release that they are waiting for USD 24 mn out of a total USD 59 mn of outstanding dues owed by the government before it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8fd53fdc-ed59-4219-9f14-e3ab535b0640\/oil-ministry-gets-the-ball-rolling-on-usd-530-mn-sustainable-aviation-fuel-project\" style=\"\" rel=\"noopener\">launches a USD 100 mn project to develop production<\/a>. The proposed 11 new wells are expected to add 80 bn cf of gas reserves and save \u201cover USD 1 bn for Egypt\u2019s economy, reducing reliance on imported LNG and mazut for power generation,\u201d according to the company<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>After several years of production declines, the government has ambitious targets to<\/strong><strong> meet<\/strong>, with unconfirmed reports that Egypt is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/75fd4c67-2084-48c6-a492-ec038213fece\/we%25e2%2580%2599re-getting-eur-7-mn-from-the-eu-to-support-water-sustainability,-green-transition.-plus:-news-from-kredit,-fawry,-raya-data-center\" style=\"\" rel=\"noopener\">looking to boost natural gas production by 30%<\/a> to 6 bn cubic feet of gas per day by the end of 2025. This new target follows the country\u2019s natural gas production having fallen 20-25% over the past two years, Oil Minister Karim Badawi <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4f0ab22-1b09-45e1-840b-ef77e13a8fa1\/drilling-operations-in-zohr-to-resume-in-december\" style=\"\" rel=\"noopener\">said at a presser last month<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"654953\" 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=\"654953\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">A MESSAGE FROM HSBC<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/11\/654953\/\">\r\n                                                    <\/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\/11\/654953\/\" 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\/11\/654953\/')\">\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\/11\/654953\/\">\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=&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/11\/654953\/\">\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\/11\/654953\/&title=\">\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=+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F11%2F654953%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\/11\/654953\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654953\" class=\"content-area-description single-story post-654953 post type-post status-publish format-standard hentry category-a-message-from-hsbc 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\/.5e7486be-5acd-43ba-920a-50dd826d0c88.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><a href=\"http:\/\/www.hsbc.com.eg\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/333.jpg?ssl=1\"\/><\/a><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Opportunity is rarely a straight line. Our international network connects you to what\u2019s next. <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/www.hsbc.com.eg\/\" style=\"\">Search HSBC Egypt<\/a><\/span><\/p>\n\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=\"654954\" 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=\"654954\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/11\/abu-qir-fertilizers-bottomline-falls-35-y-o-y-in-1q-2024-25\/\">\r\n                            It was a challenging 1Q 2024-25 for Abu Qir Fertilizers                        <\/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\/11\/abu-qir-fertilizers-bottomline-falls-35-y-o-y-in-1q-2024-25\/\" 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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However, revenues from its main activity saw a 16% y-o-y dip to EGP 3.6 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the dip:<\/strong> The company attributed the decline in revenues to lower sales, triggered by the disruptions that plagued the country\u2019s gas supplies over the past months, which prompted the government to impose a scheduled load shedding, affecting the company\u2019s productivity, and sales consequently. Lower FX prices of exports also played a role in the company\u2019s diminishing sales, as well as an overflowing inventory.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Industry insiders told EnterpriseAM earlier this year that fertilizer manufacturers have been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/775a4437-4324-44fc-ad0e-7c5b1a976ba7\/\" style=\"\" rel=\"noopener\">pushing for an approval<\/a> to raise the prices of subsidized quantities to offset the increase in cost resulting from 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>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the company is eying a recovery,<\/strong> as most of the increased inventory was contracted for October and November, at a markup over the shipping rates in September, aiming to maximize returns, according to the release.<\/p>\n\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\/abu-qir-fertilizers\/\">Abu Qir Fertilizers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/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=\"654956 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=\"654956\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/11\/654956\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654956\" class=\"content-area-description single-story post-654956 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\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=\"654957\" 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=\"654957\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/11\/the-arab-islamic-summit-in-riyadh-caught-the-attention-of-the-nations-hosts\/\">\r\n                            The Arab-Islamic Summit in Riyadh caught the attention of the nation\u2019s hosts                        <\/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\/11\/the-arab-islamic-summit-in-riyadh-caught-the-attention-of-the-nations-hosts\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/872.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"654958\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/11\/the-arab-islamic-summit-in-riyadh-caught-the-attention-of-the-nations-hosts\/872-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/872.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"872.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/872.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/872.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654957\" class=\"content-area-description single-story post-654957 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-last-nights-talk-shows tag-middle-east-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.1143cead-95f3-432d-b21e-acc0e01d9eed.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It was a quiet night on the airwaves,<\/strong> as the nation\u2019s pundits turned their attention to the Arab-Islamic Summit being hosted in Riyadh today, while regional tensions continue to escalate amid Israel's ongoing military aggressions in Gaza and Lebanon.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ala Mas'ouleety's Ahmed Moussa <\/strong><strong>dedicated a big chunk of his show to discussing the <\/strong><strong>summit,<\/strong> which he said differs from its predecessors, particularly regarding the Palestinian cause and the potential implications of Donald Trump's return to the White House this January following his electoral victory (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=05J1PiuX48c\" style=\"\" rel=\"noopener\">watch, runtime: 1:01:14<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This year's focus:<\/strong> The summit will evaluate the decisions made during last year's meeting, particularly those related to ending the war on Gaza and the two-state solution, political science professor Reda Farhat told Moussa.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"654959\" 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=\"654959\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/11\/electricity-ministry-sets-offtake-prices-for-stored-solar-energy-plus-knauf-hassan-allam-construction-siemens-dynamic-distribution-aton\/\">\r\n                            Electricity Ministry sets offtake prices for stored solar energy. PLUS: Knauf + Hassan Allam Construction, Siemens, Dynamic Distribution, Aton                        <\/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\/11\/electricity-ministry-sets-offtake-prices-for-stored-solar-energy-plus-knauf-hassan-allam-construction-siemens-dynamic-distribution-aton\/\" 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\/11\/electricity-ministry-sets-offtake-prices-for-stored-solar-energy-plus-knauf-hassan-allam-construction-siemens-dynamic-distribution-aton\/')\">\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\/11\/electricity-ministry-sets-offtake-prices-for-stored-solar-energy-plus-knauf-hassan-allam-construction-siemens-dynamic-distribution-aton\/\">\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=Electricity Ministry sets offtake prices for stored solar energy. PLUS: Knauf + Hassan Allam Construction, Siemens, Dynamic Distribution, Aton&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/11\/electricity-ministry-sets-offtake-prices-for-stored-solar-energy-plus-knauf-hassan-allam-construction-siemens-dynamic-distribution-aton\/\">\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\/11\/electricity-ministry-sets-offtake-prices-for-stored-solar-energy-plus-knauf-hassan-allam-construction-siemens-dynamic-distribution-aton\/&title=Electricity Ministry sets offtake prices for stored solar energy. PLUS: Knauf + Hassan Allam Construction, Siemens, Dynamic Distribution, Aton\">\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=Electricity+Ministry+sets+offtake+prices+for+stored+solar+energy.+PLUS%3A+Knauf+%2B+Hassan+Allam+Construction%2C+Siemens%2C+Dynamic+Distribution%2C+Aton+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F11%2Felectricity-ministry-sets-offtake-prices-for-stored-solar-energy-plus-knauf-hassan-allam-construction-siemens-dynamic-distribution-aton%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\/11\/electricity-ministry-sets-offtake-prices-for-stored-solar-energy-plus-knauf-hassan-allam-construction-siemens-dynamic-distribution-aton\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1902.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"654960\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/11\/electricity-ministry-sets-offtake-prices-for-stored-solar-energy-plus-knauf-hassan-allam-construction-siemens-dynamic-distribution-aton\/1902-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1902.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1902.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1902.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1902.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654959\" class=\"content-area-description single-story post-654959 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-construction tag-debt tag-electricity-ministry tag-energy tag-enterpriseam tag-gold tag-hassan-allam-holding tag-mining tag-oil-and-gas tag-renewables tag-siemens 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\/.f4c95349-9b04-4cb3-947b-e72a5e77a931.mp3\"><\/audio><\/figure>\n<p class=\"tag-border-left\">RENEWABLES- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt sets ta<\/strong><strong>riffs for stored solar energy: <\/strong>The Electricity Ministry has put a price tag on energy produced from solar and battery storage projects \u2014 USD 0.023\/kwh for projects set up by private investors under a build-own-operate (BOO) contract and USD 0.014\/kwh for projects where the government owns the solar plants while investors provide storage, unnamed Electricity Ministry sources told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a7%d9%84%d9%83%d9%87%d8%b1%d8%a8%d8%a7%d8%a1-%d8%aa%d8%ad%d8%af%d8%af-%d8%aa%d8%b9%d8%b1%d9%8a%d9%81%d8%a9-%d8%b4%d8%b1%d8%a7%d8%a1-%d8%a7%d9%84%d8%b7%d8%a7%d9%82%d8%a9-%d8%a7%d9%84\/\" style=\"\" rel=\"noopener\">A<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a7%d9%84%d9%83%d9%87%d8%b1%d8%a8%d8%a7%d8%a1-%d8%aa%d8%ad%d8%af%d8%af-%d8%aa%d8%b9%d8%b1%d9%8a%d9%81%d8%a9-%d8%b4%d8%b1%d8%a7%d8%a1-%d8%a7%d9%84%d8%b7%d8%a7%d9%82%d8%a9-%d8%a7%d9%84\/\" style=\"\" rel=\"noopener\">l<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a7%d9%84%d9%83%d9%87%d8%b1%d8%a8%d8%a7%d8%a1-%d8%aa%d8%ad%d8%af%d8%af-%d8%aa%d8%b9%d8%b1%d9%8a%d9%81%d8%a9-%d8%b4%d8%b1%d8%a7%d8%a1-%d8%a7%d9%84%d8%b7%d8%a7%d9%82%d8%a9-%d8%a7%d9%84\/\" style=\"\" rel=\"noopener\">Mal<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve been hearing a lot about stored solar energy projects recently: <\/strong>Egypt currently has a few solar and battery storage projects in the works, most notably Emirati AMEA Power\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0e0776b4-6497-4dbd-9af6-c265e8eaedbc\/amea-power-to-invest-usd-800-mn-to-develop-africa%25e2%2580%2599s-largest-solar-power-plant-and-battery%253cmark%253e-storage%253c%2Fmark%253e-projects-in-upper-egypt.-plus:-scatec,-two-int%25e2%2580%2599l-consortia-set-the-wheels-in-motion-on-renewables-projects.\" style=\"\" rel=\"noopener\">1 GW solar power plant with 600 MWh battery storage system<\/a> in Benban \u2014 expected to be the continent\u2019s largest. UAE\u2019s Masdar, Hassan Allam Utilities, and Infinity Power are also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/df14edc2-b089-4b19-9259-1c4724a140a1\/cabinet-approves-over-eur-1-bn-in-eu-funding\" style=\"\" rel=\"noopener\">working on a solar project<\/a>, which will have a capacity of 1.2 GW of energy and 240 MW\/hour of storage batteries. <\/p>\n<p class=\"tag-border-left\">CONSTRUCTION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Knauf to supply Hassan Allam with building materials: <\/strong>Building materials manufacturer Knauf will provide our friends at Hassan Allam Construction with building materials and solutions under a newly-announced strategic partnership, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/828.pdf\" style=\"\" rel=\"noopener\">joint press release (pdf)<\/a>. The partnership will see Knauf supplying Hassan Allam Construction with gypsum boards, cement boards, metal profiles, and more.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> Knauf is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e1594d9b-62a9-474e-aded-4c3576ba3ac3\/tag-oil-is-raising-usd-7.2-mn-to-fund-activities-in-egypt.-plus:-news-from%253cmark%253e-knauf%253c%2Fmark%253e,-oppo,-elsewedy#:~:text=Knauf%20has%20big%20investments%20planned%20in%20Egypt%3A%20Abdelrasoul\" style=\"\" rel=\"noopener\">expected<\/a> to increase its Egypt investments to EUR 120 mn by 2026, up from EUR 50 mn in June, to expand operations and add new production lines at its Suez gypsum board factory.<\/p>\n<p class=\"tag-border-left\">INVESTMENT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Could Egypt and Japan host their own investment conference? <\/strong>The Egyptian-Japanese Business Council proposed hosting an Egypt-Japan investment conference next year, modeled on June\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b44bf694-9410-4f47-beea-46b32a2a5f11\/egypt-inks-eur-67.7-bn-worth-of-agreements-and-mous-at-egypt-eu%253cmark%253e-investment-conference%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">Egypt-EU Investment conference<\/a>, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d9%85%d8%ac%d9%84%d8%b3-%d8%a7%d9%84%d8%a3%d8%b9%d9%85%d8%a7%d9%84-%d8%a7%d9%84%d9%85%d8%b5%d8%b1%d9%8a-%d8%a7%d9%84%d9%8a%d8%a7%d8%a8%d8%a7%d9%86%d9%8a-%d9%8a%d8%a8%d8%ad%d8%ab-%d9%85%d8%b9-%d9%85\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports. <\/p>\n<p class=\"tag-border-left\">TECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Around 1k factories are set to go digital:<\/strong> The Chamber of Information Technology and Telecommunication in partnership with the Industrial Modernization Center has launched an initiative to digitize 1k factories, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/citEgypt\/posts\/pfbid02xeWKamHuxJo2PTBbSq5KCGhBKr2kgMphbKt2KLukhiqdmzFVAtLwC4iUorWmKBUNl?locale=ar_AR\" style=\"\" rel=\"noopener\">statement<\/a>. The initiative aims to support and fund local factories with their digital transformation to help enhance their production efficiency and help reduce operation costs.  <\/p>\n<p class=\"tag-border-left\">INFRASTRUCTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Siemens completes EGP 385 mn power station in Sadat City:<\/strong> Germany\u2019s Siemens has completed construction of a power transformer station that will feed the eighth industrial zone expansion in Sadat City, according to a Housing Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianMinistyOfHousing\/posts\/pfbid0FoCEYLreF9HGxxW9tEjUG9StjrfDUFr37JUA2M4mJVEmTfSJDN7cxpwpHEq1fiM7l\" style=\"\" rel=\"noopener\">statement<\/a>. The 220\/66\/22 kV station will power the 1.5k-feddan industrial expansion area, as well as electricity networks in the southern and western extensions.<\/p>\n<p class=\"tag-border-left\">AUTOMOTIVE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dynamic to open Fiat's largest regional service center:<\/strong> Egypt\u2019s Fiat distributor Dynamic Distribution plans to invest EGP 350 mn to establish what will be the Italian brand's largest service center and showroom in the region, chairman Emad Helmy told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/11\/10\/1841779\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The facility will offer after-sales services, maintenance, and spare parts, alongside a showroom displaying various models. The company also plans to launch a new competitively-priced Fiat model in 1Q 2025, according to Helmy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Helmy said in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e357004-8015-4344-ba45-46118ea47d44\/\" style=\"\" rel=\"noopener\">September<\/a> that the distributor plans to distribute new Fiat models \u2014 including EVs \u2014 in Egypt next year.<\/p>\n<p class=\"tag-border-left\">MINING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new Aton drilling venture in Abu Marawat:<\/strong> Canadian gold miner Aton Resources revealed that Abu Marawat Gold Mines Ltd \u2014 a joint venture between Aton and the Egyptian Mineral Resources Authority \u2014 has inked an agreement with LSE-listed Capital Drilling to drill up at least 5k meters in the Abu Marawat concession, according to a company <a target=\"_blank\" href=\"https:\/\/atonresources.com\/news\/2024\/aton-announces-corporate-and-operations-update\/\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n\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\/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\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/siemens\/\">Siemens<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"654961\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"654961\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/11\/ems-remain-vulnerable-to-the-sway-of-us-economic-policies-even-as-momentum-for-de-dollarizing-the-world-economy-grows\/\">\r\n                            Emerging markets remain vulnerable to the sway of US economic policies, even as momentum for de-dollarizing the world economy grows                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/868.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"654962\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/11\/ems-remain-vulnerable-to-the-sway-of-us-economic-policies-even-as-momentum-for-de-dollarizing-the-world-economy-grows\/868-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/868.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"868.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/868.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/868.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654961\" class=\"content-area-description single-story post-654961 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-brics tag-emerging-markets tag-enterpriseam tag-federal-reserve tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.5cb04349-00b2-4193-891d-5e6584c548f1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>EMs at a crossroads: <\/strong>As another Donald Trump presidency looms, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-07\/global-insight-three-takeaways-on-emerging-market-outlook?embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg Economics<\/a> sees emerging market economies (EMs) as having some cause for optimism \u2014 as well as significant causes for concern. While EM interest rates and growth prospects may not be as tightly linked to developments in the US as they once were, financial vulnerabilities and as-of-yet unrealized chances for coordination could hamper EM attempts to adjust to a new global economic normal.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In some ways, EMs\u2019 independence from the US\u2019 economic sphere has never been greater:<\/strong> Bloomberg\u2019s research outfit points out that EMs\u2019 rate moves are beginning to break away from the US Federal Reserve\u2019s easing and tightening cycles, with several EMs lowering rates before the Fed did. Some countries have moved in the opposite direction of the Fed, with Brazil and Russia hiking rates shortly after the Fed\u2019s initial <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8dc5d145-feeb-4c95-9f82-defa30fb5838\/fed-kicks-off-easing-cycle-with-a-bang\" style=\"\" rel=\"noopener\">50 bps cut in September<\/a> \u2014 suggesting that at least some EMs\u2019 fates are beginning to decouple somewhat from the US economic outlook.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But US economic policy still has an oversized impact on EMs \u2014 especially following <\/strong><strong>Trump set to soon take up the Oval Office: <\/strong>Egypt, along with Argentina and South Africa are pointed to as EMs that stand out as being particularly vulnerable to building debt burdens on the back of higher global rates pushed up by a forecasted uptick in inflation in the states. The new Republican president\u2019s talk of hiking tariffs could also have an outsized impact on certain countries with export industries that target the US.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So far, Brics is yet to live up to its promise of de-dollarizing the world economy: <\/strong>Brics has yet to capitalize on its potential to coordinate policies and boost trade across its member economies, Bloomberg Economics writes. While the bloc has continued to grow in economic weight, it has struggled to reduce its reliance on the USD and has failed to find a mechanism to settle trade between members in alternative currencies \u2014 a key condition for decoupling EM growth from US policy.<\/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 starting the day in the red<\/strong>, as the markets react to inflation data for China that came in lower than forecast, putting into question the country\u2019s economic recovery. Leading the pack in the red was Hong Kong\u2019s Hang Seng that was down 2.4% at the time of writing, followed by Korea\u2019s Kospi at -0.9%, Japan\u2019s Nikkei at -0.2%, and China\u2019s Shanghai index at -0.1%<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\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\">31,394<\/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: +26.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 49.18<\/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 49.31<\/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>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 49.18<\/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 49.28<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12.103<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +1.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,449<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: -1.3%)<\/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>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\">4,640<\/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: +14.3%)<\/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>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\">5,996<\/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: +25.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,072<\/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: +4.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,803<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.0% (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 73.87<\/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\">-2.3%<\/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>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,695<\/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%<\/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 80,327.90<\/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\">+5.0% (YTD: +88.9%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 0.4% at yesterday\u2019s close<\/strong> on turnover of EGP 3.5 bn (18.0% below the 90-day average). International investors were the sole net sellers. The index is up 26.1% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Faisal Islamic Bank - EGP (+10.2%), Juhayna (+3.2%), and Madinet Masr (+1.7%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Ezz Steel (-4.0%), Eastern Company (-1.8%), and GB Corp (-1.5%).<\/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\/brics\/\">BRICS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"654963\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">10<\/div>\r\n\r\n                        <p class=\"f-graphik\">BLACKBOARD<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/beltone-brought-together-400-students-for-its-first-ai-hackathon\/\">\r\n                            Beltone brought together 400 students for its first AI hackathon<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/beltone-brought-together-400-students-for-its-first-ai-hackathon\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The hackathon was held in collaboration with the American University in Cairo\u2019s Mathematics, Actuarial, and Data Science Association. <strong>To learn more about the hackathon, EnterpriseAM spoke with Beltone Holding\u2019s Chief Data Scientist Basma Rady (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/basma-rady-17744631\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>) and Hesham El Alamy, one of the students who participated in the event. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A big turnout: <\/strong>Over 400 students from the AUC and the German University in Cairo took part in the event, with 30 teams submitting over 450 solutions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM: Could you tell us more about the hackathon and what encouraged you to <\/strong><strong>hold it now?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Basma Rady: <\/strong>The hackathon is a unique chance for students to get hands-on and real life experience with data science and AI. We wanted to give as many students as we possibly can the chance to get their hands dirty with data science and help them break into this world. We already take in six interns every year, showing them what the field looks like and how it\u2019s applied \u2014 but we also take them through the most important steps for building an AI model and applying it to the financial or any other sector. The hackathon is meant to give this chance to more students.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The structure of the hackathon was designed in a way that would highlight the<\/strong> <strong>importance of technical skills<\/strong>, staying up to date with advances in data science and AI, being able to use cutting edge tech to develop a solution to a very hard problem \u2014 and the importance of being able to explain it, regardless of whether or not the audience comes from a technical background.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The hackathon spanned a full month. <\/strong>The problem statement was: \u201ccan you predict the percentage change in gold prices in Egypt?\u201d The data set that we curated for the hackathon was in itself something innovative, as it combined numerical and textual data from Egypt and global markets. The data included things like the monthly inflation rate, stock prices, the Fed\u2019s interest rate, daily news, and the intraday gold prices in Egypt, among other things. We then asked the students to predict the difference in gold prices in Egypt for the next day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The teams that submitted the best performing models were invited to the closing day<\/strong>, where they would submit their findings to a jury of technical experts as well as people without a background in data science. The non-technical people would ask the teams to explain their models \u2014 and to do so in simple terms, in a way that someone from a business background would be able to understand. Even if a certain team had the best model, it didn\u2019t end there \u2014 they had to explain it, present it, and be able to convince the business side that this model was worth their time and attention. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What did the winning team present? What did their model look like? And why was it<\/strong> <strong>chosen?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BR:<\/strong> The winning team had a solid model and its members were able to explain their findings in an impactful way. They provided compelling data visualization, explained the problem statement, and they had developed a model that predicts the percentage change in gold prices. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: How is Beltone going to benefit from the winning model or other models produced<\/strong> <strong>during the competition?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BR:<\/strong>We were inspired by a few ideas from the top teams. While they are still student-built models, they still gave us inspiration for new ideas that we could develop further. From Beltone\u2019s side, a part of it is about fostering data science talent that is able to take academic concepts and apply them to real world problems. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: How might such initiatives bridge the gap between academia and organizations? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BR:<\/strong> During the closing ceremony, our group CEO asked the winning teams what they learned during the hackathon \u2014 and the common sentiment was that they had to learn to work with a deadline and to manage their time properly. Another point of relevance was showing them what a data scientist would face in real life. Finally, they had to learn how to sell their solution \u2014 how to convince the most technical people in the room that the model works, and also convince the business people in the room that they should trust their model.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: How are AI applications being applied in the financial services sector?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BR:<\/strong> AI is used across the board, be it for generating new content, or even for credit scoring and with coming up with new products for clients. The work from our research \u2014 on the use of machine learning and AI in order to forecast volatility for stocks in the EGX \u2014 and the output from the hackathon are currently being merged with and leveraged by our asset management platform in Beltone. We\u2019re also doing a lot of interesting stuff with language models and news data, and extracting sentiment from news, categorizing it, and being smarter with how we consume news internally.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Can we expect more hackathons from Beltone soon? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BR:<\/strong>We\u2019re hosting another hackathon this year, and next time it won\u2019t be limited to the AUC and the GUC communities. We want to collaborate with Ain Shams, Cairo University, Alexandria University, as well as new universities in the new capital. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Do you plan on any more planned collaborations with the talents that emerged during<\/strong><strong> the hackathon?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BR:<\/strong>We\u2019re in touch with the top six teams, and we\u2019re planning on inviting them to shadow us and show them how we\u2019re applying data science, and we\u2019re also going to have them sit with our asset management team so that they can get them to see the business side of our world. The winning team will also intern with us for a month.<\/p>\n<p class=\"tag-border-left\">WHAT ABOUT THE STUDENT SIDE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM spoke to Hesham El Alamy<\/strong>, one of the students who participated in the event, for his take on the hackathon. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Can you tell us about the solution you presented?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HEA: <\/strong>The hackathon was about predicting the percentage change in gold prices, and we were given real life data sets that were gathered by Beltone. It was very challenging compared to other competitions and projects that we took part in. We had two weeks, and we thought we needed to have a strong model in terms of the technical side and a strong machine learning model, but we also wanted to create a comprehensive solution that\u2019s built on statistics, economics, and business solutions for the end user. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Tell us about the solution you came up with.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HEA:<\/strong> Our machine learning model utilized a new idea that we developed called the Stacked Regressor. We used our predictions and the data sets that we were given to build an automated dashboard that can help Beltone employees find relevant data that they could analyze easily. We were given structured data, but this dashboard can help you find insights, analyze the numbers, and understand how this data was gathered, helping them use it in their daily operations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The most important takeaway from the hackathon is that even if you have a really strong <\/strong><strong>model<\/strong>, it won\u2019t be appreciated if you can\u2019t sell it right and be able to link it with business solutions. An understanding of the business side that coincides with an understanding of machine learning is needed. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>EBank launches InfoSec Academy for IT grads:<\/strong> EBank, in partnership with the CBE\u2019s Egyptian Banking Institute, has launched its Information Security Academy to equip university graduates with skills in cybersecurity and IT. (<a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/536.pdf\" style=\"\" rel=\"noopener\">Statement | pdf<\/a>) <\/li>\n<li><strong>Egypt plans to add 1k schools: <\/strong>The General Authority for Investment and Educational Buildings Authority aim to attract investments to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e04d51a9-5730-4f61-bc7f-d474cd7b257b\/egypt%e2%80%99s-kouchouk-lays-out-plan-for-ensuring-economic-stability\" style=\"\" rel=\"noopener\">establish 1k schools<\/a> by offering fresh facilities. <\/li>\n<li><strong>Social Impact Capital submits offer to own up to 100% of CIRA:<\/strong> CIRA Education majority shareholder Social Impact Capital (SIC) has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7a4ecf10-99c3-4545-a8b6-455c9b04cf4e\/sic-submits-mandatory-tender-offer-to-own-up-to-100%2525-of-cira%253cmark%253e-education%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">submitted a mandatory tender offer<\/a> to acquire up to an additional 48.78% of CIRA. SIC currently holds a 51.2% stake in the country\u2019s leading private education company. The offer is currently being reviewed by the FRA. <\/li>\n<\/ul>\n\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\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone-holding\/\">Beltone Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/blackboard\/\">Blackboard<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"654965\" 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\/11\/654965\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-654965\" class=\"content-area-description single-story post-654965 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>10-12 November (Sunday-Tuesday): Falak Startups\u2019 <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/posts\/falakstartups_falakstartups-vcfund-masterclass-activity-7253406191060488192-Rueh\/?utm_source=share&utm_medium=member_desktop\" style=\"\">Fund Manager Masterclass<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-15 November<\/span><span> (<\/span><span>Tuesday<\/span><span>-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/sis.gov.eg\/Story\/197901\/The-27th-Edition-of-the-Arab-African-Investment-and-International-Cooperation-Summit-and-Exhibition?lang=en-us\" style=\"\">Arab African Investment and International Cooperation Summit<\/a><\/span><span>,<\/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 November (Thursday): National Railway Authority to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/almalnews.com\/%d8%a7%d9%84%d9%86%d9%82%d9%84-%d8%aa%d8%b9%d9%82%d8%af-%d9%85%d8%b2%d8%a7%d9%8a%d8%af%d8%a9-%d9%85%d9%86%d8%ad-%d8%a7%d8%b3%d8%aa%d8%ba%d9%84%d8%a7%d9%84-%d9%85%d8%a8%d9%86%d9%89-%d8%a7\/\" style=\"\">launch tender<\/a><\/span><span> for the management and <\/span><span>operations of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/03c61675-0241-444d-8b82-bc5c49a8f524\/nra-to-launch-tender-for-the-management-of-bashteel%E2%80%99s-garage\" style=\"\">multi-story parking garage at the Bashteel railway station<\/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>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>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>December: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mena.org.eg\/en\/news\/dbcall\/table\/textnews\/id\/10942165\" style=\"\">Conference on Gaza humanitarian aid mobilization<\/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>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\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>Egypt makes good on arrears payments. Labor Act tops legislative agenda. CBE hits the bond market.<\/p>\n","protected":false},"featured_media":654942,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-654941","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"412cee7b-d92a-46b7-b098-3a3f715f2276","teaser":"Egypt makes good on arrears payments. Labor Act tops legislative agenda. CBE hits the bond market.","photo_url":"https:\/\/ent.news\/2024\/9\/83.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Inflation inches up 0.1 percentage point to 26.5% y-o-y in October, marking third consecutive monthly rise - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/inflation-inches-up-0-1-percentage-point-to-26-5-y-o-y-in-october-marking-third-consecutive-monthly-rise\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inflation inches up 0.1 percentage point to 26.5% y-o-y in October, marking third consecutive monthly rise\" \/>\n<meta property=\"og:description\" content=\"Egypt makes good on arrears payments. 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