{"id":655017,"date":"2024-11-12T00:00:00","date_gmt":"2024-11-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=655017"},"modified":"2025-12-18T01:15:49","modified_gmt":"2025-12-18T01:15:49","slug":"united-bank-eyes-raising-up-to-egp-5-1-bn-in-upcoming-ipo","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/united-bank-eyes-raising-up-to-egp-5-1-bn-in-upcoming-ipo\/","title":{"rendered":"United Bank eyes raising up to EGP 5.1 bn in upcoming IPO"},"content":{"rendered":"<section id=\"655019\" 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=\"655019\">\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\/12\/madbouly-in-baku-for-cop29-talks\/\">\r\n                            Madbouly in Baku for COP29 talks                        <\/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\/12\/madbouly-in-baku-for-cop29-talks\/\" 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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Space is at a premium in today\u2019s issue, so let\u2019s jump right in.<\/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>Fall weather continues in Cairo today, with a high of 25\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 much the same in Alexandria<\/strong>, with a high of 25\u00b0C and a low of 16\u00b0C.<\/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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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=\"wwtt1\"><\/a> <strong>Madbouly is in Azerbaijan for COP29:<\/strong> Prime Minister Mostafa Madbouly and Environment Minister Yasmine Fouad landed in Azerbaijan last night to represent President Abdel Fattah El Sisi at the high-level segment of <a target=\"_blank\" href=\"https:\/\/cop29.az\/en\/home\" style=\"\" rel=\"noopener\">COP29<\/a>, which runs today and tomorrow, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1069684578535295?ref=embed_post\" style=\"\" rel=\"noopener\">cabinet statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DEBT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>The<\/strong> <strong>CBE sold USD 1.6 bn worth of t-bills:<\/strong> The Central Bank of Egypt has accepted bids worth USD 1.6 bn in USD-denominated, one-year t-bills yesterday, with an average yield of 4.5%, according to its <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/auctions\/usd-t-bills\" style=\"\" rel=\"noopener\">website<\/a>. The auction marks 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 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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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\"><a id=\"wwtt5\"><\/a> <strong>Remittances from Egyptians working abroad increased 65.6% y-o-y in August to hit USD<\/strong><strong> 2.6 bn, <\/strong>according to <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/ar\/news-publications\/news\/2024\/11\/11\/11\/44\/66--upsurge-in-remittances-from-egyptians-abroad-during-august-2024\" style=\"\" rel=\"noopener\">data<\/a> from the Central Bank of Egypt. This brings total remittances through the first eight months of the year to USD 18.1 bn, a 36.4% y-o-y increase from the USD 13.3 bn recorded in the same period last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Egyptians abroad have started <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8ea59e39-6fc2-4391-a708-7c96349d5908\" style=\"\" rel=\"noopener\">sending<\/a> more of their remittances through official channels after the float of the EGP put an end to the parallel market that had pushed remittance flows through unofficial channels. Remittances are an important source of FX for the country and the state is working to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63475988-4cb4-4a7f-8124-9a9bc5677029\" style=\"\" rel=\"noopener\">increase flows<\/a> by 10% each year to reach USD 53 bn by 2030.<\/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\">\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>It\u2019s another morning where the international news cycle is broadly led by US <\/strong><strong>president-elect Donald Trump<\/strong> as he starts working on the cabinet that will kick off his second stint at the White House. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Among the highlights:<\/strong> Trump tapped Florida Rep. Mike Waltz, who is a war veteran, to be his national security adviser and take on a portfolio that includes Russia\u2019s war with Ukraine, Israel attacking multiple countries at the same time in a multi-front military campaign, and rising military buildup in China, among others, the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/national-security\/trump-selects-florida-rep-mike-waltz-as-national-security-adviser-104414fe\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> reports. The president-elect also picked New York Congresswoman <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/policy\/elise-stefanik-un-ambassador-trump-ebc36b1a\" style=\"\" rel=\"noopener\">Elise Stefanik<\/a> as the US\u2019 ambassador to the UN and immigration hardliner <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/policy\/trump-taps-tom-homan-as-border-czar-fac81082\" style=\"\" rel=\"noopener\">Tom Homan<\/a> as \u201cborder czar\u201d to oversee border crossings and deportations, according to the WSJ. Meanwhile, Susie Wiles will be chief of staff, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/default\/susie-wiles-trump-picks-quiet-competence-chief-staff-2024-11-11\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/11\/11\/us\/politics\/trump-executive-orders-susie-wiles.html\" style=\"\" rel=\"noopener\">New York Times<\/a> report. The <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/trump-staff-picks-stefanik-wiles-stephen-miller-tom-homan-243d73610b03a3ee18c4d5f68756af7c\" style=\"\" rel=\"noopener\">Associated Press<\/a> and <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/trump-20-who-would-be-running-top-jobs-trumps-second-administration-2024-11-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a> also have rundowns of who\u2019s been selected and the other candidates Trump is currently considering. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GAZA UPDATE-<\/strong> Israel killed another 37 Palestinians in Gaza in the past 24 hours, including seven near Khan Younis and 20 people in Nuseirat, \u201cincluding some in a tent encampment,\u201d <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israeli-fire-kills-11-palestinians-tanks-roll-into-central-gaza-camp-2024-11-11\/\" 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, US-mediated talks for an Israeli ceasefire in Lebanon are \u201cmaking progress,\u201d<\/strong> despite Qatar recently saying that separate talks for a ceasefire in Palestine have stalled. Israeli Foreign Minister Gideon Saar has pointed to Russia as a potential part of enforcing the ceasefire in Lebanon by mitigating the flow of weapons to Hezbollah through Syria. <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-sees-progress-lebanon-ceasefire-talks-says-russia-can-help-2024-11-11\/\" style=\"\" rel=\"noopener\">Reuters<\/a>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-11\/israel-sees-progress-in-lebanon-truce-talks-despite-hurdles\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, and the <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2024\/nov\/11\/israel-says-certain-progress-made-in-lebanon-ceasefire-talks\" style=\"\" rel=\"noopener\">Guardian<\/a> have the story. <\/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\/ads\/imgs\/239.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 Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/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 look at how far Egypt\u2019s efforts to reduce oil sector emissions have come.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655021 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            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-->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655022\" 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=\"655022\">\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\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/united-bank-eyes-raising-up-to-egp-5-1-bn-in-upcoming-ipo\/\">\r\n                            United Bank eyes raising up to EGP 5.1 bn in upcoming IPO                        <\/a>\r\n                    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data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"12.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/12.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/12.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655022\" class=\"content-area-description single-story post-655022 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch tag-enterpriseam tag-ipo-watch tag-mena-ipos tag-privatization-watch tag-united-bank 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\/.893e742f-4983-4a6c-94b3-0080e7b4634e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>United Ban<\/strong><strong>k IPO could raise up to EGP 5.1 bn:<\/strong> Central Bank of Egypt-owned United Bank has set an indicative price range of EGP 12.70-15.60 per share for its upcoming IPO on the EGX, potentially rasing between EGP 4.2-5.1 bn, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/983.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. This values the bank at up to EGP 17.2 bn. The final offer price will be determined through the bookbuilding process.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The lender revealed its intention to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8d79ff05-21fa-44eb-9911-9f2eeb114ae7\/\" style=\"\" rel=\"noopener\">float 330 mn of its shares<\/a> \u2014 equivalent to a 30% stake \u2014 on the EGX last month, with plans to to make its EGX debut before the end of the year \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e1e4b2b-23bd-474a-9c2a-1c171f684f38\/%253cmark%253eunited-bank%253c%2Fmark%253e-to-temporarily-list-1.1-bn-shares-on-the-egx-starting-today\" style=\"\" rel=\"noopener\">a quarter earlier<\/a> than initially expected, pending regulatory approvals from the Financial Regulatory Authority and the EGX.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other new details have also emerged:<\/strong> 95% of the shares offered in the IPO (313.5 mn shares) will be allocated to institutional investors, while 5% (16.5 mn shares) will be allocated to retail investors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- United Bank\u2019s IPO hits the road: <\/strong>CI Capital \u2014 the firm managing United Bank\u2019s initial public offering \u2014 will this week kick off its glocal roadshow for a 30% stake of the lender going public, <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/AsharqbEGY\/posts\/pfbid02Ys5GFLWoPy1Yd59F14YZjgL9PcwFaURt3ZRALMaih61jk3J77nYWT5LWnh68ahU1l\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing unnamed financial market sources. The promotional tour is set to make stops in Saudi Arabia, Dubai, London, and South Africa to attract investors to the IPO.<\/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\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mena-ipos\/\">MENA IPOs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/united-bank\/\">United Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655024\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between 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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=\"655025\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/qatar-energy-acquires-a-23-stake-in-north-el-dabaa-block-from-chevron\/\">\r\n                            Qatar Energy acquires a 23% stake in Egypt\u2019s North El Dabaa Block from Chevron                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img 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     <\/div>\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\/12\/qatar-energy-acquires-a-23-stake-in-north-el-dabaa-block-from-chevron\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1021.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655026\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/qatar-energy-acquires-a-23-stake-in-north-el-dabaa-block-from-chevron\/1021-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1021.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1021.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1021.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1021.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655025\" class=\"content-area-description single-story post-655025 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-chevron tag-energy tag-enterpriseam tag-oil-and-gas tag-qatar-energy 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\/.9c085390-d386-46fb-ba0f-bbc542f665cd.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Qatar Energy expands Egypt presence: <\/strong>Qatar Energy has inked an agreement with US oil and gas giant Chevron to acquire a 23% operational stake in the Mediterranean\u2019s North El Dabaa Block, according to a company <a target=\"_blank\" href=\"https:\/\/www.qatarenergy.qa\/en\/MediaCenter\/Pages\/newsdetails.aspx?ItemId=3835\" style=\"\" rel=\"noopener\">statement<\/a>. Chevron \u2014 the operator of the concession \u2014 will retain a 40% share, while oil and gas developer Woodside and the Egyptian state-owned Tharwa Petroleum hold 27% and 10% stakes, respectively. The company did not disclose the value of the transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company is already gearing up for n<\/strong><strong>ew exploratio<\/strong><strong>n works:<\/strong> \u201cWe look forward to the drilling of the first exploration well on this block,\u201d the statement quotes company CEO and Qatari Energy Minister Saad Sherida Al Kaabi as saying.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Qatar Energy is already a sizable player in the country\u2019s oil and gas sector: <\/strong>The Qatari state-owned energy company is a regular feature in Egyptian Natural Gas Holding Company\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/04355c3e-c3d0-496e-ad31-31632bf594a2\/four-international-companies-awarded-oil-and-gas-exploration-blocks\" style=\"\" rel=\"noopener\">bidding rounds for exploration blocks<\/a> <strong>. <\/strong>Among its Egypt assets are <strong>a <\/strong>recently inked a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2cf52dab-19a1-46a3-99f0-1ad026313784\/qatarenergy-to-acquire-40%2525-stake-in-two-of-exxonmobil%25e2%2580%2599s-offshore-exploration-blocks-in-egypt\" style=\"\" rel=\"noopener\">farm-in agreement<\/a> with ExxonMobil to acquire a 40% interest in the oil major\u2019s Cairo and Masry offshore concessions and a 40% of the Mediterranean\u2019s North Marakia offshore concession.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The Oil Ministry is on a mission to increase output and attract investment in a bid to close the costly gap between growing local demand and shrinking local production. Egypt has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee4b1467-0ed1-4911-a578-312de9fb0bd0\/egypt-has-paid-78%2525-of-its-arrears-to-foreign-oil-and-gas-companies-since-march\" style=\"\" rel=\"noopener\">cleared USD 3.5 bn in arrears<\/a> to foreign hydrocarbon players since March, marking a 77.8% reduction in the government\u2019s outstanding arrears over a seven-month period by our math, to persuade foreign oil companies to up their presence here. The ministry has also been <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.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The news also caught the attention of the int\u2019l press: <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/qatarenergy-buys-23-offshore-egypt-block-chevron-2024-11-11\/\" style=\"\" rel=\"noopener\">Reuters<\/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\/chevron\/\">Chevron<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar-energy\/\">Qatar Energy<\/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=\"655027\" 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=\"655027\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/efreshli-secures-seed-funding-to-fuel-expansion-welcomes-new-co-founder\/\">\r\n                            Egypt\u2019s Efreshli secures seed funding to fuel expansion + welcomes new co-founder                        <\/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\/12\/efreshli-secures-seed-funding-to-fuel-expansion-welcomes-new-co-founder\/\" 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\/12\/efreshli-secures-seed-funding-to-fuel-expansion-welcomes-new-co-founder\/')\">\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\/12\/efreshli-secures-seed-funding-to-fuel-expansion-welcomes-new-co-founder\/\">\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=Efreshli secures seed funding to fuel expansion + welcomes new co-founder&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/efreshli-secures-seed-funding-to-fuel-expansion-welcomes-new-co-founder\/\">\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\/12\/efreshli-secures-seed-funding-to-fuel-expansion-welcomes-new-co-founder\/&title=Efreshli secures seed funding to fuel expansion + welcomes new co-founder\">\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=Efreshli+secures+seed+funding+to+fuel+expansion+%2B+welcomes+new+co-founder+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F12%2Fefreshli-secures-seed-funding-to-fuel-expansion-welcomes-new-co-founder%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\/12\/efreshli-secures-seed-funding-to-fuel-expansion-welcomes-new-co-founder\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1005.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655028\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/efreshli-secures-seed-funding-to-fuel-expansion-welcomes-new-co-founder\/1005-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1005.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1005.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1005.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1005.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655027\" class=\"content-area-description single-story post-655027 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-efreshli tag-enterpriseam tag-startup-watch tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.121c6eee-4270-4725-bbd3-f6887c962ce4.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Efreshli <\/strong><strong>secures fresh funding to expand its regional reach: <\/strong>Egyptian interior design firm <a target=\"_blank\" href=\"https:\/\/efreshli.com\/?srsltid=AfmBOoq8gfFO9ElfE43QJMsC6-Y3nex3g0NPgivPV2SpHDHYaLczqym0\" style=\"\" rel=\"noopener\">Efreshli<\/a> has closed an undisclosed seed round led by Algebra Ventures, with participation from 500 Startups, Dar Ventures, and angel investors, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/926.pdf\" style=\"\" rel=\"noopener\">statement<\/a>. The funds will help the startup enhance its offerings and expand its product line. EnterpriseAM spoke to co-founders <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/heba-el-gabaly-49614177\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">Heba Elgabaly<\/a> and <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/dinaelhaddad\/\" style=\"\" rel=\"noopener\">Dina Elhaddad<\/a> to learn more about the startup and what we can expect next from it.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Elhaddad is a fairly new addition to the company: <\/strong>The former Google product lead recently joined the company as co-founder and chief product officer, bringing a \u201cwealth of experience in product and tech\u201d to the startup. She joins Elgabaly who has some 15 years of experience in the consumer technology sector. Elhaddad will focus on leveraging technology to expand Efreshli\u2019s reach and boost designer productivity, she told us. Her vision includes using AI to personalize user experiences and streamline design workflows. She will also be spearheading Efreshli Pro, which will enable external designers to collaborate with Efreshli\u2019s team and access curated furniture options \u2014 strengthening the startup\u2019s unique ecosystem-driven model.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Efreshli?<\/strong> Launched as a comprehensive interior design platform, Efreshli offers a unique approach that merges e-commerce with tailored design services. The platform allows customers to explore curated, budget-friendly interior design options without stepping into a showroom, with services tailored to appeal to both individual clients and businesses. Through its Efreshli Pro feature, it also allows external designers to access its curated catalog, enabling them to source furniture selections for client projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s the money going? <\/strong>The new funds will strengthen Efreshli\u2019s tech infrastructure, the co-founders told us, explaining that the money will help the team to continue enhancing its services, which already support over 200 brands and feature a catalog of 50k products. Efreshli will also focus on regional growth, aiming to step foot into the UAE and Saudi Arabia, they added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It has been a big week for Efreshli: <\/strong>The startup opened up its first ever <a target=\"_blank\" href=\"https:\/\/www.instagram.com\/p\/DCM_y62x-HP\/?utm_source=ig_web_copy_link&amp;igsh=MzRlODBiNWFlZA==\" style=\"\" rel=\"noopener\">showroom<\/a> this week in Sheikh Zayed\u2019s Arkan Plaza. The showroom provides customers with a physical space to experience the furniture in person, which is vital for their confidence in making design decisions, the founders told us. The showroom will also support initiatives like a gift registry for newlyweds and other personalized experiences, bridging online convenience with real-world validation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Changing consumer behaviors is shaping Efreshli\u2019s approach: <\/strong>Efreshli has tapped into a shift in how people view online interior design, a sector that has traditionally relied on in-person interactions, the founders said. Today, with online shopping habits more ingrained, consumers are embracing Efreshli\u2019s convenience and affordability. The platform primarily serves second homeowners in destinations like the North Coast and El Gouna, as well as Egyptians living abroad who want hassle-free solutions for furnishing. The startup also caters to developers like Marakez and Somabay in a B2B2C model, handling end-to-end interior design solutions for large projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A word from the investors: <\/strong>\u201cFurniture is an important national industry. Egypt is the region\u2019s largest exporter of furniture and has always benefitted from secular trends like near-shoring and an attractive labor market,\u201d Algebra Ventures General Partner Laila Hassan said, adding that \u201cin an industry riddled with attempts to build simple Web 1.0 e-commerce experiences that just don\u2019t work for furniture, Efreshli brings a refreshing designer-first approach to the entire customer journey.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cWe believe that the Egyptian market, along with the broader MENA region, needs <\/strong><strong>funding and innovation within the architecture, engineering and construction industry<\/strong> \u2026 We are confident that with Dina's technological expertise now on board, Efreshli is set to elevate its products and services to new heights, enabling them to compete effectively on a regional scale,\u201d Dar Ventures\u2019 Faysal Shair said.<\/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\/efreshli\/\">Efreshli<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655029 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=\"655029\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/655029\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655029\" class=\"content-area-description single-story post-655029 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.eg\/insights\/MAPs\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/974.jpg?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=\"655030\" 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=\"655030\">\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\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/chinese-automaker-jinbei-to-launch-local-assembly-through-its-local-agent\/\">\r\n                            Chinese automaker Jinbei to launch local assembly through its local agent in Egypt                        <\/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\/12\/chinese-automaker-jinbei-to-launch-local-assembly-through-its-local-agent\/\" 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\/12\/chinese-automaker-jinbei-to-launch-local-assembly-through-its-local-agent\/')\">\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\/12\/chinese-automaker-jinbei-to-launch-local-assembly-through-its-local-agent\/\">\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=Chinese automaker Jinbei to launch local assembly through its local agent&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/chinese-automaker-jinbei-to-launch-local-assembly-through-its-local-agent\/\">\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\/12\/chinese-automaker-jinbei-to-launch-local-assembly-through-its-local-agent\/&title=Chinese automaker Jinbei to launch local assembly through its local agent\">\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=Chinese+automaker+Jinbei+to+launch+local+assembly+through+its+local+agent+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F12%2Fchinese-automaker-jinbei-to-launch-local-assembly-through-its-local-agent%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\/12\/chinese-automaker-jinbei-to-launch-local-assembly-through-its-local-agent\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/979.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655031\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/chinese-automaker-jinbei-to-launch-local-assembly-through-its-local-agent\/979-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/979.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"979.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/979.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/979.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655030\" class=\"content-area-description single-story post-655030 post type-post status-publish format-standard has-post-thumbnail hentry category-automotive tag-automotive tag-enterpriseam tag-evs tag-manufacturing wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.ddd51d97-69c0-4748-803b-200db6ea60fc.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Another Chinese automaker gears up to launch local assembly: <\/strong>The country\u2019s sole agent for China\u2019s Jinbei, Jinbei Royal Egypt, has landed an agreement to assemble their models in Egypt starting early 2025, Chairman Khaled Saad told EnterpriseAM. The company plans to assemble 3k vehicles in 2025, a number Saad told us would increase in later years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EVs are high on the agenda:<\/strong> The agreement will see the local auto player assembling the first electric cargo van and microbus in the country, according to Saad. The agreement also entails assembling Jinbei\u2019s traditional combustion-engine vehicles to fill local market demand. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Auto exports are also in the cards:<\/strong> Aside from meeting local market demand, Saad told Enterprise that his company is also hoping to offload Jinbei\u2019s assembled vehicles to African and European markets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Auto localization is the name of the game:<\/strong> Saad told us that the agreement aligns with the state\u2019s push for localizing the automotive industry and its feeders industries. The project will focus on boosting the local components ratio of the assembled-in-Egypt vehicles, especially EVs, which help reduce the government\u2019s import bill, and help reduce carbon emissions, Saad added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The country\u2019s automobile market has been volatile in 2024, but mostly in decline throughout the year on the back of import restrictions, difficulties in accessing FX for fund imports, and rising prices pushing consumers out of the market. However, the tide could be turning with industry insiders <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/43ea3b83-ea14-4635-b079-618efae16c04\/central-bank-eases-import-restrictions-on-vehicle\" style=\"\" rel=\"noopener\">telling EnterpriseAM earlier this month<\/a> that the Central Bank of Egypt has instructed banks to begin processing car importers\u2019 requests for USD-denominated letters of credit, ending a six-month halt.<\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655032\" 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=\"655032\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/tanmiya-capital-ventures-to-pick-up-20-9-stake-in-local-confectionary-leader-el-abd\/\">\r\n                            Tanmiya Capital Ventures to pick up 20.9% stake in local confectionary leader El Abd                        <\/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\/12\/tanmiya-capital-ventures-to-pick-up-20-9-stake-in-local-confectionary-leader-el-abd\/\" 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\/12\/tanmiya-capital-ventures-to-pick-up-20-9-stake-in-local-confectionary-leader-el-abd\/')\">\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\/12\/tanmiya-capital-ventures-to-pick-up-20-9-stake-in-local-confectionary-leader-el-abd\/\">\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=Tanmiya Capital Ventures to pick up 20.9% stake in local confectionary leader El Abd&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/tanmiya-capital-ventures-to-pick-up-20-9-stake-in-local-confectionary-leader-el-abd\/\">\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\/12\/tanmiya-capital-ventures-to-pick-up-20-9-stake-in-local-confectionary-leader-el-abd\/&title=Tanmiya Capital Ventures to pick up 20.9% stake in local confectionary leader El Abd\">\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=Tanmiya+Capital+Ventures+to+pick+up+20.9%25+stake+in+local+confectionary+leader+El+Abd+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F12%2Ftanmiya-capital-ventures-to-pick-up-20-9-stake-in-local-confectionary-leader-el-abd%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\/12\/tanmiya-capital-ventures-to-pick-up-20-9-stake-in-local-confectionary-leader-el-abd\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1023.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655033\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/tanmiya-capital-ventures-to-pick-up-20-9-stake-in-local-confectionary-leader-el-abd\/1023-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1023.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1023.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1023.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1023.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655032\" class=\"content-area-description single-story post-655032 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam tag-food tag-ma-watch tag-tanmiya-capital-ventures 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\/.109d1f21-f4d3-4a5f-9062-a27f41d11c3e.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>It turns out<\/strong> <strong>Tanmiya Capital Ventures has a sweet tooth:<\/strong> Egypt\u2019s Competition Authority approved a filing by Tanmiya Capital Ventures (TCV) to acquire a 20.9% stake in El Abd for Investment, Manufacturing, and Sweet Trading, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCompetitionAuthorityECA\/posts\/pfbid02jFNGypEmWocrMK2XzJZsu8TJft4Wmu7QP7JqvWycaARbWoo3bsXx9jFVJ2MGjvzdl?rdid=UJUCbV3fFt0P8pgV#\" style=\"\" rel=\"noopener\">statement<\/a> from the Egyptian Competition Authority. We\u2019re yet to find out how much TCV will put forward for the stake in the local confectionery company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s the money for?<\/strong> \"The investment is going all into a capital increase to fuel the company\u2019s growth in opening new branches and finishing its new facility,\u201d TCV Managing Partner Mohamed Mahgoub told EnterpriseAM<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But don\u2019t expect any radical leadership changes ahead: \u201d<\/strong>The family is not selling and will continue managing the business,\u201d Mahgoub clarified.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> The acquisition will reach a close within two months,according to Mahgoub.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tanmiya is no stranger to the country\u2019s F&amp;B sector: <\/strong>Alongside its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bfd029da-b02c-4cc7-963e-40537643f0c3\/adq%25e2%2580%2599s-agthia-now-owns-60%2525-of-auf-group\" style=\"\" rel=\"noopener\">10% stake in local food<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bfd029da-b02c-4cc7-963e-40537643f0c3\/adq%25e2%2580%2599s-agthia-now-owns-60%2525-of-auf-group\" style=\"\" rel=\"noopener\">company<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bfd029da-b02c-4cc7-963e-40537643f0c3\/adq%25e2%2580%2599s-agthia-now-owns-60%2525-of-auf-group\" style=\"\" rel=\"noopener\">Auf Group<\/a> \u2014 the company behind <a target=\"_blank\" href=\"https:\/\/www.abuauf.com\/\" style=\"\" rel=\"noopener\">Abu Auf<\/a> \u2014 Tanmiya also has stakes in local food players <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MisrFoodAdditives\/\" style=\"\" rel=\"noopener\">Mifad<\/a> and <a target=\"_blank\" href=\"https:\/\/www.plantformagri.com\/\" style=\"\" rel=\"noopener\">Plant Form<\/a>. Tanmiya\u2019s TCV II fund <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/12bb40c7-b696-492a-855d-6dadcc6571bd\/malaysia%25e2%2580%2599s-proton-to-start-producing-locally-made-autos-in-early-2025.-plus:-talgo,-aton-%2B-ankh-%2B-centamin,-ifc-%2B%253cmark%253e-tanmiya-capital-ventures%253c%2Fmark%253e,-fujifilm\" style=\"\" rel=\"noopener\">has also pointed to F&amp;B companies<\/a> as among its main targets and leading figures from the firm have often spoken about their <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad226812-218c-4623-88a5-c11fe001a78d\/tcv-plans-to-spend-usd-30-mn-to-add-two-food-companies-to-its-portfolio\" style=\"\" rel=\"noopener\">appetite for more local F&amp;B acquisitions<\/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\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tanmiya-capital-ventures\/\">Tanmiya Capital Ventures<\/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=\"655034\" 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=\"655034\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/government-lays-out-target-to-increase-startup-investments-10x-to-usd-5-bn\/\">\r\n                            Government lays out target to increase startup investments 10x to USD 5 bn                        <\/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\/12\/government-lays-out-target-to-increase-startup-investments-10x-to-usd-5-bn\/\" 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\/12\/government-lays-out-target-to-increase-startup-investments-10x-to-usd-5-bn\/')\">\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\/12\/government-lays-out-target-to-increase-startup-investments-10x-to-usd-5-bn\/\">\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=Government lays out target to increase startup investments 10x to USD 5 bn&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/government-lays-out-target-to-increase-startup-investments-10x-to-usd-5-bn\/\">\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\/12\/government-lays-out-target-to-increase-startup-investments-10x-to-usd-5-bn\/&title=Government lays out target to increase startup investments 10x to USD 5 bn\">\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=Government+lays+out+target+to+increase+startup+investments+10x+to+USD+5+bn+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F12%2Fgovernment-lays-out-target-to-increase-startup-investments-10x-to-usd-5-bn%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\/12\/government-lays-out-target-to-increase-startup-investments-10x-to-usd-5-bn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1007.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655035\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/government-lays-out-target-to-increase-startup-investments-10x-to-usd-5-bn\/1007-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1007.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1007.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1007.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1007.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655034\" class=\"content-area-description single-story post-655034 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam tag-moustafa-madbouly tag-rania-al-mashat tag-startup-watch tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.4b5f1f1d-5e91-4ce1-a39c-831d1266fb6c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Prime Minister Moustafa Madbouly chaired the second meeting of the Entrepreneurship <\/strong><strong>Ministerial Committee yesterday<\/strong>, alongside committee head, Planning, and International Cooperation Minister Rania Al Mashat and other senior government officials, to discuss ways to boost the startup landscape in the country, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0dmnYgv1R63FbnMk42zAUkccoiqVBr1pLrCnzKXdtdZqgJZvzrd36XmeKYp35MWUZl\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. Madbouly also met earlier yesterday with <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid021DMvghB6S1nqU6fkwHCLnGVYvHmmft39rdyuVWcTjmANd95EG6ZEUFdhUYz9XkJ5l\" style=\"\" rel=\"noopener\">representatives from ten local startups<\/a> operating across 14 countries with a combined market value of USD 3 bn to discuss how the government can support the sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Eying 10x growth:<\/strong> The ministerial group is ready to provide all necessary support to startups and will work to remove any obstacles, Madbouly said. The Prime Minister's advisor Amr El Abd will oversee government efforts to boost the sector, with an aim to bolster the size of investments in the sector to USD 5 bn from USD 500 mn over an unspecified timeline. Madbouly noted that Egypt has the talent pool needed to make significant strides in the sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Four working groups take the helm:<\/strong> Al Mashat outlined the ministerial committee's progress so far, which include establishing a technical secretariat jointly headed by the Planning Ministry and the General Authority for Investment and Freezones. The group has also set up four specialized working groups focused on policy frameworks and funding, startup initiatives and projects coordination, global market access while retaining local talent, and connecting sector challenges with innovative startup solutions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Charter in the works:<\/strong> Al Mashat said the meeting reviewed a proposed charter for Egypt's startup community that would act as a roadmap for growth and sustainability. The group also discussed proposals for a unified startup definition, incentives to encourage large companies to invest in startups, and features of the Egypt Innovate platform, launched by ITIDA\u2019s Technology Innovation and Entrepreneurship Center (TIEC). <\/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\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rania-al-mashat\/\">Rania Al Mashat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655036\" 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=\"655036\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/orascom-development-e-finance-madinet-masr-report-3q-earnings\/\">\r\n                            Orascom Development, E-finance, Madinet Masr report 3Q earnings                        <\/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\/12\/orascom-development-e-finance-madinet-masr-report-3q-earnings\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/orascom-development-e-finance-madinet-masr-report-3q-earnings\/')\">\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\/12\/orascom-development-e-finance-madinet-masr-report-3q-earnings\/\">\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=Orascom Development, E-finance, Madinet Masr report 3Q earnings&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/orascom-development-e-finance-madinet-masr-report-3q-earnings\/\">\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\/12\/orascom-development-e-finance-madinet-masr-report-3q-earnings\/&title=Orascom Development, E-finance, Madinet Masr report 3Q earnings\">\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=Orascom+Development%2C+E-finance%2C+Madinet+Masr+report+3Q+earnings+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F12%2Forascom-development-e-finance-madinet-masr-report-3q-earnings%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\/12\/orascom-development-e-finance-madinet-masr-report-3q-earnings\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2566.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655037\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/orascom-development-e-finance-madinet-masr-report-3q-earnings\/2566-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2566.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2566.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2566.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2566.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655036\" class=\"content-area-description single-story post-655036 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-e-finance tag-earnings tag-earnings-watch tag-enterpriseam tag-madinet-masr tag-orascom-development-egypt 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\/.e957158e-d69a-4e4b-89cc-6d2b2708d195.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>3Q earnings start trickling in:<\/strong> E-finance, Orascom Development Egypt, and Madinet Masr have all released their 3Q 2024 earnings, showing strong growth across the board.<\/p>\n<p class=\"tag-border-left\">E-FINANCE SEES REVENUES, INCOME RISE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>State-owned fintech player E-finance saw its net income after non-controlling <\/strong><strong>interest rise 47% y-o-y <\/strong>in 3Q 2024 to record EGP 630.8 mn, it said in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/932.pdf\" style=\"\" rel=\"noopener\">e<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/932.pdf\" style=\"\" rel=\"noopener\">arnings rele<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/932.pdf\" style=\"\" rel=\"noopener\">ase (pdf)<\/a>. Revenues were up 12.7% y-o-y during the quarter to EGP 1.2 bn, driven by its flagship business E-finance Digital Operations which contributed the lion\u2019s share of the company\u2019s revenues for the quarter with EGP 1.1 bn, a 17.1% jump from the same period last year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Growth across the board: <\/strong>The company\u2019s eCards saw a 28.1% jump in revenues to EGP 87.2 mn and eAswaaq recorded EGP 63.7 mn in revenues, up 20% y-o-y. While eKhales saw the biggest jump in revenues, with a 50.8% y-o-y increase to EGP 36.8 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bigger picture: <\/strong>During the first nine months of the year, the company saw its net income after minority interest rise 21.5% y-o-y to EGP 1.4 bn and its revenues jump 24.5% y-o-y to EGP 3.4 bn on the back of growth across all business sectors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: \u201c<\/strong>A main pillar of our growth and expansion strategy is the continued investment in new and innovative ways to develop Egypt\u2019s digital landscape. On that front, and after acquiring ownership stakes in Al Ahly Momken and easyCash for Digital Payments last quarter, we have recently launched the first Africa-focused specialized Egyptian e-commerce platform, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a78c923-5790-48d1-b5a6-ab1de406caa1\/alexandria-for-industrial-development-to-build-usd-120-mn-worth-of-turnkey-factories-for-foreign-companies.-plus:-united-bank,-fawry,-raya-cx,-easwaaq-%2B-post-for-investment,-trellix\" style=\"\" rel=\"noopener\">ECOM Africa<\/a>, further expanding our reach across the retail sector,\u201d Chairman Ibrahim Sarhan said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- A new microfinance firm in the making:<\/strong> E-finance will partner with the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), Egypt Post, and Misr Ins. to establish Khatwa Microfinance, which E-finance will hold no more than a 30% stake of, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/966.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The fintech player will reportedly launch the new microfinance outfit by 2Q 2025, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/11\/11\/1842178\" style=\"\" rel=\"noopener\">Al Borsa<\/a> writes, citing informed sources.<\/p>\n<p class=\"tag-border-left\">ORASCOM DEVELOPMENT SEES JUMP IN INCOME-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EGX-listed Orascom Development Egypt (ODE) saw its net income rise 25.7% <\/strong><strong>y-o-y <\/strong>during the third quarter of the year to record EGP 1.3 bn, \u201cmarking a significant milestone for ODE in line with all its impressive achievements,\u201d the company said in its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/933.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Revenues for the quarter were up 26% y-o-y to record EGP 5.2 bn as the company\u2019s \u201coperational strength manifested across all business segments.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Net real estate sales were up 32.4% y-o-y during the quarter <\/strong>to record EGP 7.4 bn, showing a \u201chealthy uptake.\u201d Net real estate sales are up 76.9% y-o-y for the first nine months of 2024, recording EGP 23.1 bn, with international sales making up around 43% of the figure. El Gouna made up the lion\u2019s share of the real estate developer\u2019s sales for 9M 2024, making up 45% of new sales. It was followed by O West and Makadi Heights, at 38% and 17%, respectively. Continued increases in average selling prices helped push real estate revenue up 43.7% y-o-y to EGP 3.4 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The hospitality sector recorded revenues of EGP 1.1 bn during the quarter<\/strong>, marking a 21.5% y-o-y increase, which the developer attributed to its hotels\u2019 ability \u201cto maintain high occupancy rates and enhance room rates.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What about 9M? <\/strong>ODE saw its net income rise 9.9% y-o-y during the first nine months of 2024 to record EGP 2.2 bn, despite incurring a foreign exchange loss of EGP 2.1 bn. Revenues increased 49.3% y-o-y to reach EGP 15.5 bn during the same period. <\/p>\n<p class=\"tag-border-left\">MADINET MASR REPORTS 3Q RESULTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Real estate developer Madinet Masr saw a 43% y-o-y increase in net income in 3Q <\/strong><strong>2024<\/strong>, which sat at EGP 1.1 bn, according to the company\u2019s latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/955.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Its revenues saw a 30.5% y-o-y jump to EGP 2.9 bn, driven by higher contracted sales. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The company saw its gross contracted sales rise 23.5% y-o-y to EGP 11.8 bn during the quarter. Its Sarai projects account for 77.7% of the quarter\u2019s sales, while Taj City made up the remaining 22.3%. It sold some 1.2k units during the quarter, up 19.9% from the same period last year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 9M basis: <\/strong>The developer\u2019s net income came in at \u201can all-time high\u201d of EGP 2.6 bn during 9M 2024, marking a 88.9% y-o-y increase. Revenues increased 62.9% y-o-y to reach 7.2 bn during the nine-month period. Gross contracted sales more than doubled during the period to reach EGP 32.7 bn on the back of new project launches. <\/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\/e-finance\/\">e-finance<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madinet-masr\/\">Madinet Masr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-development-egypt\/\">Orascom Development Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655038 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=\"655038\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/655038\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655038\" class=\"content-area-description single-story post-655038 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=\"655039\" 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=\"655039\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/the-arab-islamic-summit-in-riyadh-once-again-hit-the-airwaves\/\">\r\n                            The Arab-Islamic Summit in Riyadh once again hit the airwaves                        <\/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\/12\/the-arab-islamic-summit-in-riyadh-once-again-hit-the-airwaves\/\" 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 summit concluded with <a target=\"_blank\" href=\"https:\/\/www.mofa.gov.sa\/ar\/ministry\/statements\/Pages\/N8732.aspx\" style=\"\" rel=\"noopener\">a unified call<\/a> from 50 countries for an immediate ceasefire in Gaza and Lebanon and a reinforced commitment to Palestinian statehood based on the 1967 borders with East Jerusalem as its capital, urging the international community to enforce relevant UN resolutions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Regional violations under scrutiny:<\/strong> Arab and Islamic nations have been documenting Israeli legal and humanitarian violations in Lebanese and Palestinian territories, particularly in the West Bank and Gaza, according to El Hekayah's Amr Adib (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1229415551672883\" style=\"\" rel=\"noopener\">watch, runtime: 5:31<\/a>). He emphasized that the resolution to the current conflict lies in reaching regional peace through a two-state solution, given the ineffectiveness of recent military operations. \u201cFor the first time, there is Arab and Islamic consensus to approach the UN General Assembly to suspend Israel's membership as a new pressure card,\u201d Adib commented (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=868015465518076\" style=\"\" rel=\"noopener\">watch, runtime: 6:47<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The summit received attention across the talks hows<\/strong>, including Azza Mostafa on her show Al Sa\u2019aa Al Sadesa\u2019 (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=Wma_2d7i5S0\" style=\"\" rel=\"noopener\">watch, runtime: 5:02<\/a>) and Ahmed Moussa on Ala Mas'ouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=f4njPEBk_1A\" style=\"\" rel=\"noopener\">watch, runtime: 2:07:04<\/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\/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=\"655041\" 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=\"655041\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/vodafone-egypt-telecom-egypt-ink-egp-30-bn-worth-of-infrastructure-services-5g-agreements\/\">\r\n                            Vodafone Egypt, Telecom Egypt ink EGP 30 bn worth of infrastructure services, 5G agreements                        <\/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\/12\/vodafone-egypt-telecom-egypt-ink-egp-30-bn-worth-of-infrastructure-services-5g-agreements\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The partnership \u2014 signed by both companies\u2019 CEOs and witnessed by CIT Minister Amr Talaat \u2014 includes extending Telecom Egypt\u2019s messaging services agreement with Vodafone Egypt until 2031 to support its expansion, a four-year fiber optics connection agreement for Vodafone\u2019s mobile sites, and new agreements for virtual fixed and internet services. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The National Telecom Regulatory Authority last month inked <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/87cb4c0d-b85d-4006-ba5c-fc6358a1ee76\/three-more-telecom-firms-secure%253cmark%253e-5g%253c%2Fmark%253e-service-licenses\" style=\"\" rel=\"noopener\">USD 450 mn worth<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/87cb4c0d-b85d-4006-ba5c-fc6358a1ee76\/three-more-telecom-firms-secure%253cmark%253e-5g%253c%2Fmark%253e-service-licenses\" style=\"\" rel=\"noopener\">of agreements<\/a> granting 5G service licenses to Vodafone Egypt, Orange Egypt, and e&amp; Egypt.<\/p>\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Nile Recycling to build USD 20 mn plastic recycling facility in Ain Sokhna: <\/strong>Egypt\u2019s Nile Recycling has signed an agreement with Main Development Company to establish a polyethylene terephthalate (PET) plastic recycling facility in the Sokhna Industrial Zone with an initial investment of USD 20 mn, according to a Suez Canal Economic Zone <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/15c4coSTXa\/\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The project will recycle PET bottles into food-grade recycled PET plastic, with a targeted capacity of 22k tons per year once the facility starts production in 1H 2025. The recycled plastic will be used for packaging and food containers, with plans to export abroad. The project is also expected to reduce carbon emissions by 40k tons annually. <\/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- Egypt and Malaysia to expand economic cooperation:<\/strong> Investment Minister Hassan El Khatib and Malaysian Prime Minister Anwar Ibrahim agreed to activate the Egyptian-Malaysian Joint Committee in early 2025, focusing on investments in manufacturing, semiconductors, energy, and digital transformation, according to a ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/1AaPiP8cCz\/\" style=\"\" rel=\"noopener\">statement<\/a>. The aim is for Malaysian companies to use their expansion in Egypt as a gateway into African markets.<\/p>\n<p class=\"tag-border-left\">BANKING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CBE approves 15-year olds opening accounts without parental consent: <\/strong>The Central Bank of Egypt announced that banks can now open accounts for young people aged 15 to 21 without parental consent, reducing the minimum age from 16 to 15, <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=11112024&amp;id=863631d2-ad96-42a2-b649-a2d84135271f\" style=\"\" rel=\"noopener\">Shorouk News<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Banking products will be tailored for minors:<\/strong> Products for this age group will be tailored to align with their legal capacity and risk levels. The decision builds on a 2021 update permitting accounts for those 16 and older. <\/p>\n<p class=\"tag-border-left\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>2G Energy wants to set up green hydrogen, biogas projects: <\/strong>Germany\u2019s <a target=\"_blank\" href=\"https:\/\/www.2g-energy.com\/\" style=\"\" rel=\"noopener\">2G Energy<\/a> is in talks with five Egyptian companies to set up green hydrogen, biogas, and combined heat and power (CHP) projects locally, project engineer Jonas Stormann told told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/11\/11\/-%D8%AA%D9%88-%D8%AC%D9%8A-%D8%A7%D9%86%D9%8A%D8%B1%D8%AC%D9%8A-%D8%A7%D9%84%D8%A3%D9%84%D9%85%D8%A7%D9%86%D9%8A%D8%A9-%D8%AA%D8%B3%D8%B9%D9%89-%D9%84%D8%AA%D9%86%D9%81%D9%8A%D8%B0-%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D8%A7%D8%AA-%D9%84%D8%A7%D9%86%D8%AA%D8%A7%D8%AC-%D8%A7%D9%84%D9%87%D9%8A%D8%AF%D8%B1%D9%88%D8%AC%D9%8A%D9%86-%D8%A7%D9%84%D8%A3%D8%AE%D8%B6%D8%B1-%D9%88%D8%A7%D9%84%D8%A8%D8%A7%D9%8A%D9%88%D8%BA%D8%A7%D8%B2-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>, without disclosing the expected investment ticket of these projects. The company is looking to expand into other African and Arab nations, with an eye on Saudi Arabia \u2014 on the back of the country\u2019s booming renewable energy and green hydrogen industries. <\/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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-telecom-regulatory-authority\/\">National Telecom Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-central-bank-of-egypt\/\">The Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655043\" 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=\"655043\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/btc-is-up-30-since-americans-took-to-the-polls\/\">\r\n                            BTC is up 30% since Americans took to the polls                        <\/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\/12\/btc-is-up-30-since-americans-took-to-the-polls\/\" 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 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/btc-is-up-30-since-americans-took-to-the-polls\/1001-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1001.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1001.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1001.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1001.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655043\" class=\"content-area-description single-story post-655043 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-cryptocurrency tag-enterpriseam tag-financial-markets tag-planet-finance tag-politics tag-wall-street wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.7de1d71e-5274-4a24-9ef2-ffcaf13de8d7.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>BTC has climbed above USD 88k for the first time<\/strong>, marking a fresh record for the cryptocurrency that has witnessed a surge of investor interest since Donald Trump was reelected to the Oval Office on 5 November. In just 12 days, BTC is up 30.5% and saw its biggest gains yesterday as Republicans continued to inch closer to an increasingly likely House majority, rising 10.1% in the previous 24 hours at the time of writing.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Options traders are even forecasting BTC to hit the USD 100k mark by the end of the<\/strong><strong> year<\/strong>, with crypto exchange Deribit recording investors lining up to price in the ambitious target. Cumberland Labs\u2019 Chris Newhouse heralded the market entering an \u201cundeniable bull market for the next few years\u201d in comments to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-10\/bitcoin-btc-on-cusp-of-80-000-for-first-time-on-optimism-over-trump?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The presidential-elect\u2019s pro-crypto agenda is driving the rally<\/strong>, with crypto investors looking towards Trump\u2019s talk of solidifying the US\u2019 position in the industry, vow to make a strategic crypto stockpile, and changing the regulatory tone around digital assets \u2014 in stark contrast to the Biden administration. BTC Inc\u2019s David Bailey described Trump\u2019s being elected as a chance to \u201cadvance transformational legislation\u201d in the sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A historically crypto-friendly Congress is also pushing up confidence in digital assets,<\/strong> as a Republican majority in the Senate and likely soon the House will welcome pro-digital asset lawmakers \u2014 many of which would have received some of the USD 100 mn from the industry to support their election campaigns. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The greenback, Wall Street stocks, and what are now being called \u201cTrump trades\u201d have<\/strong><strong> also had a strong 12 days<\/strong>, with the S&amp;P 500 hitting fresh records, US stocks recording their best week of the year last week, and the USD strengthening against its peers.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But much of the optimism may be misplaced, <\/strong>with Citi\u2019s Drew Pettit arguing that amid the \u201ceuphoria territory,\u201d many are \u201cskipping the argument that bad things may happen,\u201d reports the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f50e6936-af3c-4066-9b4b-41797549541b\" style=\"\" rel=\"noopener\">Financial Times<\/a>. The US economy could soon be set to see the return of rising inflation and steep deficits, warn economists, as mass deportations, tariffs, monetary policy interference, and tax cuts proposed by Trump could push the country\u2019s economy off course \u2014 and with it the recent enthusiasm for Trump trades.<\/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>The post-election rally doesn\u2019t seem to spreading to the Asian markets in early trading<\/strong><strong> this morning<\/strong>, with the Hang Seng starting the day in the red at -0.5, followed by the Kopsi at -0.4%, while the Shanghai index is up 0.1% and the Nikkei leading the pack in the green at 0.7%.<\/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\">31,621<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +27.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 49.15<\/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-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><strong>)<\/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 49.14<\/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 49.24<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,106<\/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\">+0.03% (YTD: +1.2%)<\/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>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\">9,436<\/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: -1.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,652<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +14.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">6,001<\/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: +25.8%)<\/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>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\">8,125<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +5.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,854<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.1% (YTD: +7.4%)<\/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>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 71.89<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.94<\/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\">+10.3%<\/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>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 2,627.00<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.5%<\/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 88,008.80<\/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\">+10.1% (YTD: +107.7%)<\/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 0.7% at yesterday\u2019s close<\/strong> on turnover of EGP 4.6 bn (8.3% above the 90-day average). Local investors were the sole net buyers. The index is up 27.0% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Telecom Egypt (+6.7%), E-finance (+3.6%), and Faisal Islamic Bank -EGP (+3.5%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Cleopatra Hospitals (-1.7%), ADIB (-1.4%), and Elsewedy Electric (-1.2%).<\/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\/cryptocurrency\/\">cryptocurrency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wall-street\/\">Wall Street<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"655045\">\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\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday 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\/goinggreen\/\">\r\n                            Read going Green                        <\/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\">12<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/how-far-have-egypts-efforts-to-reduce-oil-sector-emissions-come\/\">\r\n                            How far have Egypt\u2019s efforts to reduce oil sector emissions come?<\/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\/goinggreens\/how-far-have-egypts-efforts-to-reduce-oil-sector-emissions-come\/\" 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 strategy serves as the backdrop of some ambitious targets \u2014 with the country\u2019s oil sector previously being given a target <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0gbG9zxaKBwSn71xVaqGdcnvdfQ3M7v7o2g5L3uvLQX3vT9RDYZhgzyVVDmthQKgxl\" style=\"\" rel=\"noopener\">cut down its carbon emissions by 17%<\/a> by 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters: <\/strong>Oil and gas operations contribute some 15% of global energy-related emissions, according to the <a target=\"_blank\" href=\"https:\/\/www.iea.org\/reports\/emissions-from-oil-and-gas-operations-in-net-zero-transitions\" style=\"\" rel=\"noopener\">International Energy Agency<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong>ministry\u2019s carbon reduction plan<\/strong><strong> is anchored in six main pillars: <\/strong>Reforming energy subsidies, increasing reliance on natural gas, enhancing energy efficiency, reducing carbon emissions, integrating renewable energy at petroleum sites, and developing biofuel and increasing the use of hydrogen as an energy source. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Boosting energy efficiency is key to achieving these goals<\/strong> \u2014 as it offers economic returns and substantial emission reductions. The ministry has implemented around <a target=\"_blank\" href=\"https:\/\/www.petroleum.gov.eg\/ar-eg\/energy-efficiency\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">340 projects<\/a> aimed at optimizing energy use, resulting in annual savings of USD 135.5 mn and reducing 1.2 mn tons of CO2 emissions a year. These efforts include detailed energy audits in five key companies and training some 250 engineers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Energy efficiency centers lead these initiatives:<\/strong> Building on these efforts, the ministry is establishing an energy efficiency center in Alexandria, complementing an already existing center in Cairo that develops and oversees energy-saving policies. Along with optimizing energy use, these centers also train employees and contribute to sustainable development and emission reduction. There is also a plan for every local petroleum company to have its own energy efficiency department to further this mission.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also helping: <\/strong>Carbon capture and storage (CSS) is another promising solution for reducing emissions in the oil and gas industry, seeing as they enable industry players to minimize their carbon footprint while boosting production. Shell Egypt, in collaboration with the Egyptian Natural Gas Holding Company (EGAS), is implementing a framework to manage and reduce emissions. The issue with such solutions however remains their economic feasibility, former Oil Minister Tarek El Molla <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid094ewHFXZzzcMsrRqgcgpL2MUdrGN9u1n53FCWLMKkvJ3PeUt9HS6AaVviWwLCLURl\" style=\"\" rel=\"noopener\">said<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Utilizing captured CO2: <\/strong>The ministry is working with the World Bank to develop sustainable economic models for CCS projects. Captured carbon can be used to enhance oil recovery through CO2 injection processes and manufacturing synthetic fuels or chemicals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some missing pieces of the puzzle: <\/strong>Financing is a key obstacle to decarbonization, as deploying carbon reduction and capture technologies requires significant investment. There\u2019s also the need to introduce policies and regulations <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0wYHf3hegwyXgU5QEZ28PocLAxmPL3ULixzG3f7XQf1AwXrkU7VYrF7FU19YVjrJ4l\" style=\"\" rel=\"noopener\">ensuring long-term storage safety<\/a>, reducing economic costs, and providing infrastructure and suitable project sites.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Steps in the right direction: <\/strong>Last month, a number of state-owned oil and gas firms and international energy companies <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/69d51f67-4100-4d92-aeb9-d644249b15a4\/%25D9%2582%25D9%2588%25D9%2589-%25D8%25A7%25D9%2584%25D8%25A8%25D8%25B1%25D9%2584%25D9%2585%25D8%25A7%25D9%2586-%25D8%25AA%25D9%2582%25D8%25B1-%25D9%2585%25D8%25A8%25D8%25AF%25D8%25A6%25D9%258A%25D8%25A7-%25D9%2582%25D8%25A7%25D9%2586%25D9%2588%25D9%2586-%25D8%25A7%25D9%2584%25D8%25B9%25D9%2585%25D9%2584-%25D8%25A7%25D9%2584%25D9%2585%25D8%25B9%25D8%25A7%25D8%25AF-%25D8%25B5%25D9%258A%25D8%25A7%25D8%25BA%25D8%25AA%25D9%2587\" style=\"\" rel=\"noopener\">inked MoUs<\/a> to enhance cooperation in areas such as operational safety, carbon capture and storage, and decarbonization. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There are several noteworthy success stories:<\/strong> The state-led National Initiative for Smart Green Projects has spotlighted key achievements in the petroleum sector \u2014 Alexandria National Refining and Petrochemicals Company was recognized for its <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0r2wMhxXHaC9xccf5ZzvAVRwQsdmAmeWMDU5R7M4LYfbtSj1vGb9s2iKVH5mGiA68l\" style=\"\" rel=\"noopener\">project to use hydrogen to power boilers<\/a>, reducing dependency on natural gas. And the Assiut National Oil Refining Company <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0pteWLwQ63qvyCBeD53ec6f12HrJqUybiTqsAWbbpfPQkBpGrSdHSYWztxbWrqcb6l\" style=\"\" rel=\"noopener\">was recognized<\/a> for its eco-friendly project that uses treated industrial water and planting carbon-reducing jojoba trees. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And more: <\/strong>Qalaa Holdings\u2019 subsidiary Egyptian Refining Company has introduced several energy-reduction initiatives that helped it reduce its emissions by over 110k tons a year, a company representative told EnterpriseAM, adding that the company is also working to reduce direct emissions by enhancing its recovery of flare gasses. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>LNG as a transition fuel:<\/strong> Liquified natural gas is positioned as a practical, lower-emission alternative among fossil fuels. To meet global demand, there is a need to tap into all energy sources, so implementation of projects to help boost LNG production in tandem with investing in green alternatives will help us achieve a balanced and sustainable shift towards decarbonization, according to Shell Egypt Vice President Dalia El Gabry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt has been steadily climbing up the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/121.pdf\" style=\"\" rel=\"noopener\">Energy Transition Index (pdf)<\/a><\/strong>, which measures 120 nations\u2019 \u201ccurrent energy system performance and on the readiness of their enabling environment.\u201d Egypt ranked 75 in this year\u2019s index, up from 79 last year. \u201cThe country\u2019s commitment to enhancing the diversity of its energy mix, increased contribution of renewable energy and advancing infrastructure development has effectively mitigated these risks over the past year,\u201d the report read. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Leveraging technology for decarbonisation:<\/strong> Digital tools and solutions are being increasingly incorporated by companies to monitor emissions. Shell Egypt for instance is employing advanced technology to help reduce and manage emissions in its operations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shell\u2019s road to net zero: <\/strong>Shell aims to achieve net zero by 2030, El Gabry said, pointing to the company\u2019s efforts to align its global targets with its operations in the Egyptian market, ensuring the transfer of the best global practices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Egyptian General Petroleum Corporation <\/strong><strong>is also making strides on that front: <\/strong>The EGPC has collaborated with Schneider Electric and China\u2019s Huawei to <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid02rxMrSyyJwBuYcMCQLGRx9n3kaKRq4GvZLPgBWR3LX8ax75PzSJWn2mZBesNCLRgnl\" style=\"\" rel=\"noopener\">deliver integrated energy solutions<\/a> tailored for the oil sector in Egypt \u2014 helping set up digital centers in oil facilities and aid the sector with its digital transformation. <\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/shell\/\">Shell<\/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=\"655047\" 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\/12\/655047\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655047\" class=\"content-area-description single-story post-655047 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 (Tuesday-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 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 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>Remittances up | Another Chinese automaker eyes local assembly | Big energy acquisitions | BTC fever pitch<\/p>\n","protected":false},"featured_media":655018,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-655017","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"c34496ee-9a13-44f4-ba6f-e301ffd7c730","teaser":"Remittances up | Another Chinese automaker eyes local assembly | Big energy acquisitions | BTC fever pitch","photo_url":"https:\/\/ent.news\/2024\/8\/400.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>United Bank eyes raising up to EGP 5.1 bn in upcoming IPO - 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\/united-bank-eyes-raising-up-to-egp-5-1-bn-in-upcoming-ipo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"United Bank eyes raising up to EGP 5.1 bn in upcoming IPO\" \/>\n<meta property=\"og:description\" content=\"Remittances up | Another Chinese automaker eyes local assembly | Big energy acquisitions | BTC fever pitch\" \/>\n<meta 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