{"id":655097,"date":"2024-11-13T00:00:00","date_gmt":"2024-11-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=655097"},"modified":"2025-12-18T01:17:44","modified_gmt":"2025-12-18T01:17:44","slug":"malaysian-automaker-proton-cuts-the-ribbon-on-egp-3-bn-assembly-plant","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/malaysian-automaker-proton-cuts-the-ribbon-on-egp-3-bn-assembly-plant\/","title":{"rendered":"Malaysian automaker Proton cuts the ribbon on EGP 3 bn assembly plant"},"content":{"rendered":"<section id=\"655099\" 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=\"655099\">\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\/13\/egypt-rejects-reports-it-asked-imf-to-up-its-next-loan-trance-by-an-extra-usd-700-mn\/\">\r\n                            Egypt rejects reports it asked IMF to up its next loan trance by an extra USD 700 mn                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-image-title=\"60.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/60.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/60.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655099\" class=\"content-area-description single-story post-655099 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-economy tag-enterpriseam tag-imf tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.d173210d-5d3e-4105-8965-bd26cef465a8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends.<\/strong> It\u2019s another busy day for local business news, full of big-ticket investments, auto industry localization, and even government repudiations. We\u2019ve just about squeezed everything into today\u2019s issue, so let\u2019s get started straight away.<\/p><p class=\"tag-border-left\">FACT CHECK-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a>  <strong>Government calls out reports that it asked the IMF to increase its next disbursement as <\/strong><strong>false: <\/strong>\u201cThere is no truth\u201d to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5fefdfa6-2b78-4a49-89bd-1fa71322e4fb\/egypt-asks%253cmark%253e-imf%253c%2Fmark%253e-for-additional-usd-700-mn-in-funds\" style=\"\" rel=\"noopener\">media reports yesterday<\/a> claiming that Egypt has requested the International Monetary Fund increase its next loan disbursement to the country, Egyptian representative to the IMF and Central Bank of Egypt Governor Hassan Abdallah said in a statement seen by EnterpriseAM.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>Local media picked up a report yesterday citing anonymous government sources claiming that Egypt has reportedly asked the Fund to increase its next disbursement under its USD 8 bn loan program to USD 2 bn \u2014 USD 700 mn more than the originally agreed upon USD 1.3 bn.The tranche in question is set to be disbursed once the IMF completes its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/34a5b4ba-e7d0-46b6-a984-45db566a7c90\/imf-begins-its-fourth-review-of-egypt%E2%80%99s-usd-8-bn-program\" style=\"\" rel=\"noopener\">ongoing fourth review<\/a> and is already set to be the largest Egypt has received from the program to date.<\/p><p class=\"tag-border-left\">PSA-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>Autumn weather continues in Cairo today, with a high of 26\u00b0C and a low of 17\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s more of the same in Alexandria<\/strong>, with a high of 25\u00b0C and a low of 16\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p class=\"tag-border-left\">WATCH THIS SPACE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#1- Gov't rolls out 15% interest rate loans for manufacturers: <\/strong>The government has approved offering manufacturers loans at a subsidized 15% interest rate to purchase equipment and production materials, according to an Industry Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/mti.egypt\/posts\/pfbid0ApfPUbmP1fqXTT5tLqNefDd8avPNQs9cN6Pc7tnWJh7wECZcopBCDLySjJBffBWxl\" style=\"\" rel=\"noopener\">statement<\/a>. The Industrial Development Authority is working with the Federation of Egyptian Industries to prioritize which sectors will receive the loans first, according to Industry Minister Kamel El Wazir.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#2- Local healthtechs on course for a fresh round of Emirati investments?<\/strong> Abu Dhabi\u2019s AI-focussed healthtech <a target=\"_blank\" href=\"https:\/\/m42.ae\/\" style=\"\" rel=\"noopener\">M42<\/a> \u2014 a joint venture Abu Dhabi sovereign wealth fund Mubadala and Abu Dhabi AI firm G42 \u2014 is in talks with Egyptian firms \u2014 along with those in Indonesia, Malaysia, and India \u2014 as part of its strategy to expand its AI-powered healthcare solutions, CEO Hasan Jasem Al Nowais told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-11\/abu-dhabi-eyes-more-deals-to-build-ai-powered-global-health-firm\" style=\"\" rel=\"noopener\">Bloomberg<\/a>.<\/p><p class=\"tag-border-left\">COP WATCH-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>Egypt can only hit its climate targets if it receives more financial support, Madbouly says: <\/strong>Prime Minister Moustafa Madbouly said at the ongoing COP29 conference in Azerbaijan that Egypt will only be able to achieve its target of 42% renewables by 2030 and other climate targets if it does not start receiving \u201cthe support required to implement\u201d them, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02iSdKSn8Xh49wFrt6R159wTM1jDaCr3LDWqKp2JnjoBNbV8PV4yzwoPTBDBBTpr3Sl\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. As with other developing countries, Nationally Determined Contributions will not go beyond \u201cink on paper\u201d if more funding does not materialize, Madbouly continued.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve got a long way to go:<\/strong> Renewable energy <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9c204253-74bf-4487-ae7d-62ae0cb51bb5\/breaking-down-the-new-cabinet%25e2%2580%2599s-green-goals\" style=\"\" rel=\"noopener\">made up some 11.5%<\/a> during the past fiscal year and is forecast to make up some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fb85bbae-8f80-471f-87c7-8176bb9344d2\/\" style=\"\" rel=\"noopener\">13.8%<\/a> during the current fiscal year. And the government sees renewables making up 18.6% of Egypt\u2019s total energy mix by the fiscal year 2026-2027.<\/p><p class=\"tag-border-left\">HAPPENING NEXT WEEK-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egyptian <\/strong><strong>officials are already in Rio for the G20 Summit set to kick off next week: <\/strong>The country\u2019s presidential representative to the G20 and Brics, Ragy El Etreby, and other senior officials are in Brazil for preparatory meetings preceding the <a target=\"_blank\" href=\"https:\/\/www.g20.org\/en\/about-the-g20\/summit-rio-2024\" style=\"\" rel=\"noopener\">G20 Summit<\/a> scheduled for 18-19 November, according to a Foreign Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid0oKvFuip5KCxEi3JE9i7tWCcKFTY1w3wFzWafMx5qGUppqG9RZLhCtHmWpVwkTeb3l\" style=\"\" rel=\"noopener\">statement<\/a>. The delegation highlighted the need to adopt measures that would alleviate challenges facing emerging markets through monetary, financial, and trade reforms. <\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>1- Atlas shareholders now have until 26 November to respond to Amoun\u2019s MTO:<\/strong> The Financial Regulatory Authority has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3239e19b-5957-4421-9ce2-fa09f16d54c4\/arla-foods-looks-to-take-over-domty-in-usd-183-mn-transaction\" style=\"\" rel=\"noopener\">extended<\/a> Amoun for Real Estate and Tourism Development\u2019s mandatory tender offer (MTO) for 65.59% of Atlas For Investment and Food Industries by ten working days, giving Atlas shareholders until 26 November to decide, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1094.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Amoun has offered to purchase around <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ea28b51-3839-4b2d-9725-fb6a48b64055\/amoun-wants-a-majority-stake-in-egx-listed-atlas\" style=\"\" rel=\"noopener\">427.2 mn of Atlas\u2019 shares<\/a> for EGP 0.78 a piece, putting the transaction\u2019s value at EGP 333.22 mn by our math. Amoun will need to acquire a minimum 51% stake of the target company for the offer to go through.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Egypt-Azerbaijan joint committee to meet in 1Q 2025: <\/strong>Egypt and Azerbaijan are set to convene a joint committee aimed at strengthening bilateral cooperation on trade and investment in 1Q 2025, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02rbqM8wPzKMjrgd58zimDxu3WBVdxwEse3FELcXjpWxtE5VBV1iXkp4zxwTVpqzy3l\" style=\"\" rel=\"noopener\">readout<\/a> of a meeting between Prime Minister Moustafa Madbouly and his Azerbaijani counterpart Ali Asadov on the sidelines of the COP29 climate summit. Madbouly also reportedly suggested that the two sides hold a business forum on the committee\u2019s sidelines to discuss investments in priority areas like energy, transport, and the pharmaceutical industry. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s another morning of the international press keeping track of the cabinet positions US <\/strong><strong>president-elect Donald Trump is filling in<\/strong> before his term begins in January. The rundown:<\/p><ul>\n<li>Kristi Noem \u2014 Homeland Security (<a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/11\/12\/us\/politics\/kristi-noem-homeland-security-secretary-trump.html\" style=\"\" rel=\"noopener\">New York Times<\/a>)<\/li>\n<li>Pete Hegseth \u2014 Department of Defense (<a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/11\/12\/us\/politics\/pete-hegseth-defense-secretary-trump.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/elections\/trump-names-fox-news-host-pete-hegseth-to-head-pentagon-john-ratcliffe-to-lead-cia-f5711d3e\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>)<\/li>\n<li>John Ratcliffe \u2014 CIA (<a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2024\/11\/12\/john-ratcliffe-cia-trump-00189143\" style=\"\" rel=\"noopener\">Politico<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/11\/12\/us\/politics\/john-ratcliffe-cia-director-trump.html\" style=\"\" rel=\"noopener\">New York Times<\/a>)<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Elon Musk and Roivant Sciences founder Vivek Ramaswamy are leading what <\/strong><strong>Trump is calling the Department of Government Efficiency.<\/strong> Musk\u2019s appointment comes after the Tesla CEO endorsed Trump\u2019s presidency bid and ran a lottery pool for voters to encourage turnout. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/trump-says-elon-musk-vivek-ramaswamy-will-lead-department-government-efficiency-2024-11-13\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/features\/2024-11-12\/elon-musk-s-new-project-running-trump-s-us-government\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/elections\/trump-picks-musk-ramaswamy-for-government-efficiency-effort-d42c8a2e\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/11\/12\/elon-musk-is-no-kissinger-but-may-help-improve-us-china-relations-experts-say-.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KEEPING TABS-<\/strong> <a target=\"_blank\" href=\"https:\/\/www.politico.com\/interactives\/2024\/trump-cabinet-picks-2025-tracker\/\" style=\"\" rel=\"noopener\">Politico<\/a> is keeping a running tab on the positions filled so far in Trump\u2019s cabinet, while the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b609172c-3713-4c51-97b7-36872136719e\" style=\"\" rel=\"noopener\">Financial Times<\/a> notes that the incoming president looked to loyalists to fill key positions, including Hegseth and Ratcliffe. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CLOSER TO HOME-<\/strong> The CEO of Saudi Arabia\u2019s Neom megaproject, Nadhmi Al Nasr, left his role after six years in the position. Al Nasr \u2014 whose departure is being described as \u201cabrupt\u201d \u2014 is being replaced temporarily by the Public Investment Fund\u2019s head of local real estate, Aiman Al Mudaifer. The leadership change will \u201censure operational continuity, agility and efficiency to match the overall vision and objectives of the project,\u201d the Neom board said in <a target=\"_blank\" href=\"https:\/\/twitter.com\/NEOM\/status\/1856350427085672811\" style=\"\" rel=\"noopener\">a statement<\/a>. The story is also getting ink from <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-12\/saudi-arabia-replaces-ceo-leading-development-of-megacity-neom\" style=\"\" rel=\"noopener\">Bloomberg<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/ceo-of-saudi-arabias-futuristic-city-project-leaves-abruptly-43489eb4\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2503.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We look at what Egypt is doing to make its ports smarter in efforts to transform its logistics landscape. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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=\"655101 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=\"655101\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/655101\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655101\" class=\"content-area-description single-story post-655101 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1544.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Somabay<\/span><span style=\"font-weight:400;\">, every reason to fall in love.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655102\" 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=\"655102\">\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\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/malaysian-automaker-proton-cuts-the-ribbon-on-egp-3-bn-assembly-plant\/\">\r\n                            Malaysian automaker Proton cuts the ribbon on EGP 3 bn assembly plant                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/malaysian-automaker-proton-cuts-the-ribbon-on-egp-3-bn-assembly-plant\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1194.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655103\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/malaysian-automaker-proton-cuts-the-ribbon-on-egp-3-bn-assembly-plant\/1194-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1194.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1194.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1194.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1194.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655102\" class=\"content-area-description single-story post-655102 post type-post status-publish format-standard has-post-thumbnail hentry category-automotive tag-automotive tag-elsewedy-electric tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.5b11ad4e-4c8c-43db-b84f-5fe11241ab4c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Locally assembled Proton models will soon be hitting Egyptian streets: <\/strong>A EGP 3 bn factory to assemble Malaysian automaker Proton\u2019s Saga model was officially opened yesterday, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02uAuVELyFhakJzvrZ7Xs1AymEXjQbPaDtaf8YreZe4Q8pUwhcgGds9JLuXJdr9L2Nl\" style=\"\" rel=\"noopener\">statement<\/a> from the Industry Ministry. The cars will be assembled by Proton\u2019s local agent, Ezz El Arab JV Ezz Elsewedy Automotive Factories (ESAF).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Elsewedy Electric sister company Elsewedy Capital and automotive group Ezz El Arab <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/efbe7c8e-0f15-470a-ac13-4703f186e2a3\" style=\"\" rel=\"noopener\">launched joint venture ESAF late last year<\/a> to assemble petrol and electric vehicles. The JV was set to receive more than USD 15 mn of investment to assemble 50k Proton-branded petrol cars and EVs annually in the \u201ccoming years.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>ESAF is targeting an annual production capacity of 40k \u2014 to be doubled at a later stage \u2014 and a local component ratio of 48%. The plant will export some 10% of its production in the first year of operations, before expanding the amount of cars exported, and will create some 300 jobs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The project is ahead of schedule: <\/strong>The factory will start assembly next month, according to the statement, ahead of Proton Egypt General Manager Bassem Ashmawy\u2019s <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-tanmiya-capital-ventures,-fujifilm\" style=\"\" rel=\"noopener\">comments earlier this year<\/a> that the company would start locally assembling its Saga model in early 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A call for more Malaysian investments:<\/strong> Malaysian Prime Minister Anwar Ibrahim attended the inauguration as part of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ba456530-84e8-4f51-b12d-40a44eb76292\/old-rent-law-set-for-an-overhaul?\" style=\"\" rel=\"noopener\">his four-day visit to Egypt<\/a>, which saw deputy president for industrial development and trade minister, Kamel El Wazir, invite Malaysian companies to invest in the country, positioning Egypt as an export hub to European, African and Middle Eastern countries. <\/p>\n<p class=\"tag-border-left\">ALSO IN AUTOMOTIVE NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FRA approves guidelines for EV ins. policies:<\/strong> The Financial Regulatory Authority (FRA) has approved two guiding documents for ins. policies covering electric vehicles (EVs) for personal and commercial use, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d8%b9%d8%aa%d9%85%d8%af-%d9%88%d8%ab%d8%a7%d8%a6%d9%82-%d8%a7%d9%84%d8%aa%d8%a3%d9%85%d9%8a\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports, citing the Ins. Federation of Egypt\u2019s auto division head, Arabi Al Sayed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The guiding documents see ins. plans covering accidents, repairs, fires, theft, third-party liability, and passenger protection for EV owners \u2014 though only if they follow manufacturer guidelines to avoid issues, such as only using original chargers and safely disposing of damaged batteries. Cyberattacks are excluded from coverage. Each ins. company must get FRA approval before issuing either of the approved policies.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elsewedy-electric\/\">Elsewedy Electric<\/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=\"655104\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div 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class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 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class=\"f-graphik\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/ksas-zamil-steel-construction-plans-to-set-up-new-heavy-steel-plant-in-egypt\/\">\r\n                            KSA\u2019s Zamil Steel Construction plans to set up new heavy steel plant 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\/13\/ksas-zamil-steel-construction-plans-to-set-up-new-heavy-steel-plant-in-egypt\/\" target=\"_blank\">\n         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class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1170.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655106\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/ksas-zamil-steel-construction-plans-to-set-up-new-heavy-steel-plant-in-egypt\/1170-jpg-28\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1170.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1170.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1170.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1170.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655105\" class=\"content-area-description single-story post-655105 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-commodities tag-construction tag-enterpriseam tag-manufacturing tag-saudi-arabia 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\/.e1c5c825-da54-43f4-8ee7-20afb4d2ccd3.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Another big-ticket Saudi investment in the works: <\/strong>Saudi Arabia\u2019s <a target=\"_blank\" href=\"https:\/\/zamilsteel.com\/zsc\/en\/\" style=\"\" rel=\"noopener\">Zamil Steel Construction<\/a> \u2014 a subsidiary of <a target=\"_blank\" href=\"https:\/\/www.zamilindustrial.com\/en\/\" style=\"\" rel=\"noopener\">Zamil Industrial<\/a> \u2014 is planning to set up a new heavy metal structures factory in Egypt, Zamil Steel Egypt General Manager Khaled Saad announced earlier this week. The factory will initially meet local demand for metal structures and at a later export over half of its output. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The nitty gritty:<\/strong> The new facility \u2014 to be set up in Sadat City \u2014 will have three production lines that will produce 36k tons of metal structures a year when running at capacity. It will be carried out in three phases over three years, Saad said, adding that the Saudi group will fully self-finance the project, with final investment cost to be decided early next year <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The factory will help plug an important gap in the market:<\/strong> Heavy steel structures are in high demand across Egypt\u2019s oil, gas and petrochemical sectors, which require structures with specialized specifications, Saad noted, adding that such structures are mostly imported into Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Zamil Steel Egypt already has a sizable footprint in the country:<\/strong> The company currently operates two factories in Sixth of October and Sadat City, with investments totaling USD 70 mn. Over its 25 years in Egypt, it has produced 1.2 mn tons of steel structures. Zamil Steel exports to 63 markets and has so far contributed to 7.4k projects across various sectors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s already been a big year for Zamil Steel Egypt:<\/strong> The company is on track to produce 72k tons of steel structures by the end of 2024, with 40% set for export. The company has broken into Turkey, resumed exports to Morocco, and is looking to enter Benin next year, with plans to, at a later stage, expand to Europe, starting with Hungary. <\/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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655107\" 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=\"655107\">\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\">FINANCIAL SERVICES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/globalcorp-to-increase-issued-and-paid-in-capital-to-fuel-service-portfolio-expansion\/\">\r\n                            GlobalCorp to increase issued and paid-in capital to fuel service portfolio expansion                        <\/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\/13\/globalcorp-to-increase-issued-and-paid-in-capital-to-fuel-service-portfolio-expansion\/\" 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\/13\/globalcorp-to-increase-issued-and-paid-in-capital-to-fuel-service-portfolio-expansion\/')\">\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\/13\/globalcorp-to-increase-issued-and-paid-in-capital-to-fuel-service-portfolio-expansion\/\">\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=GlobalCorp to increase issued and paid-in capital to fuel service portfolio expansion&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/globalcorp-to-increase-issued-and-paid-in-capital-to-fuel-service-portfolio-expansion\/\">\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\/13\/globalcorp-to-increase-issued-and-paid-in-capital-to-fuel-service-portfolio-expansion\/&title=GlobalCorp to increase issued and paid-in capital to fuel service portfolio expansion\">\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=GlobalCorp+to+increase+issued+and+paid-in+capital+to+fuel+service+portfolio+expansion+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F13%2Fglobalcorp-to-increase-issued-and-paid-in-capital-to-fuel-service-portfolio-expansion%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\/13\/globalcorp-to-increase-issued-and-paid-in-capital-to-fuel-service-portfolio-expansion\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1188.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655108\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/globalcorp-to-increase-issued-and-paid-in-capital-to-fuel-service-portfolio-expansion\/1188-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1188.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1188.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1188.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1188.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655107\" class=\"content-area-description single-story post-655107 post type-post status-publish format-standard has-post-thumbnail hentry category-financial-services tag-enterpriseam tag-financial-services tag-globalcorp tag-non-banking-financial-services 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\/.c91c67ef-19ed-4ce4-be7d-896f528812b8.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>GlobalCorp has some big plans in the pipeline: <\/strong>Non-banking financial services firm GlobalCorp wants to expand its portfolio \u201cbeyond B2B leasing and factoring solutions\u201d to become a \u201ccomprehensive NBFI platform catering to both B2B and B2C clients,\u201d the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1068.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a> yesterday. The move comes amid a bid to expand the company\u2019s market reach and expand its footprint in the country.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fresh capital injections will back its expansion agenda: <\/strong>The company also said it will increase its issued and paid-in capital as part of this expansion plan. The firm will raise its issued capital to EGP 1.5 bn from EGP 1 bn and its paid-in capital to EGP 1.4 bn from EGP 600 mn by year end. The increase is set to make GlobalCorp the biggest NBFI across Egypt in terms of paid-in capital, the statement reads<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s the money coming from:<\/strong> The firm said that the capital increase is courtesy of its existing shareholders, which include the European Bank for Reconstruction and Development, Amethis, SPE Capital Partners, and GlobalCorp founder and boss, Hatem Samir.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cWe believe that the recent capital injection is a testament to our shareholders' confidence in GlobalCorp\u2019s strategic direction and our commitment to redefining financial solutions in Egypt,\u201d said Samir \u201cBy expanding our capital base and evolving into a comprehensive non-banking financial institution platform, we are positioned to better serve both businesses and consumers, empowering economic growth and financial inclusivity across the country.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Samir spoke at this year\u2019s Enterprise Finance Forum about the challenges and<\/strong><strong> possibilities of local SME financing. <\/strong>You can check out our rundown of the session <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a1b78fbc-4b29-4d54-8e08-7c58bff52994\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/globalcorp\/\">GlobalCorp<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655109\" 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=\"655109\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/four-international-oil-and-gas-firms-secure-offshore-and-onshore-concessions-across-egypt\/\">\r\n                            Four international oil and gas firms secure offshore and onshore concessions across 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\/13\/four-international-oil-and-gas-firms-secure-offshore-and-onshore-concessions-across-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The four companies will invest at least USD 71 mn, with a commitment to drill at least 14 wells <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The winning quartet will explore for oil and gas in four blocks located in the Western Desert, Eastern Deserts, and the Gulf of Suez under exploration licenses with the Egyptian General Petroleum Corporation of up to seven years. The firms will be granted 20-year extendable development leases if they make a discovery.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The ministry\u2019s international bid round that it kicked off in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1ec344c3-9e08-4b6a-9656-143e62bbf536\/egypt-steps-up-search-for-oil-and-gas-with-new-bid-round\" style=\"\" rel=\"noopener\">September 2023<\/a> offered up 23 blocks in total, spread across the Western Desert, the Gulf of Suez, the Red Sea, and in the Eastern Desert. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More than ever, the government is looking for fresh discoveries: <\/strong>Following a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/454b221a-69a5-4435-864e-86f3fc55f90e\/government-pledges-to-end-power-cuts-by-third-week-of-july-with-usd-1.2-bn-set-aside-for%253cmark%253e-energy%253c%2Fmark%253e-imports-and-other-initiatives\" style=\"\" rel=\"noopener\">costly few<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/454b221a-69a5-4435-864e-86f3fc55f90e\/government-pledges-to-end-power-cuts-by-third-week-of-july-with-usd-1.2-bn-set-aside-for%253cmark%253e-energy%253c%2Fmark%253e-imports-and-other-initiatives\" style=\"\" rel=\"noopener\">months<\/a> of energy imports to bridge the gap between local production and demand, the Oil Ministry has been on a mission to start increasing local energy production starting in 2025. In addition to partially clearing arrears to international oil companies since the EGP float in March, the Oil Ministry is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/76e0292b-903e-44ce-a127-021c00848173\/new-energy-incentives-aim-to-boost-domestic-production-and-foreign-investment\" style=\"\" rel=\"noopener\">offering new incentives<\/a> to energy players that include increasing production sharing ratios with foreign companies in exchange for new investments, enhancing exploration efforts, and increasing extraction rates with the aim of boosting local production.<\/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\/egyptian-general-petroleum-corporation\/\">Egyptian General Petroleum Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655111\" 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=\"655111\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/macro-group-sees-an-uptick-in-3q-net-income-after-a-difficult-9m-plus-al-baraka-banks-net-income-up-51-9-y-o-y-in-3q\/\">\r\n                            Macro Group sees an uptick in 3Q net income after a difficult 9M. PLUS: Al Baraka Bank\u2019s net income up 51.9% y-o-y in 3Q                        <\/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\/13\/macro-group-sees-an-uptick-in-3q-net-income-after-a-difficult-9m-plus-al-baraka-banks-net-income-up-51-9-y-o-y-in-3q\/\" 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\/13\/macro-group-sees-an-uptick-in-3q-net-income-after-a-difficult-9m-plus-al-baraka-banks-net-income-up-51-9-y-o-y-in-3q\/')\">\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\/13\/macro-group-sees-an-uptick-in-3q-net-income-after-a-difficult-9m-plus-al-baraka-banks-net-income-up-51-9-y-o-y-in-3q\/\">\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=Macro Group sees an uptick in 3Q net income after a difficult 9M. PLUS: Al Baraka Bank\u2019s net income up 51.9% y-o-y in 3Q&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/macro-group-sees-an-uptick-in-3q-net-income-after-a-difficult-9m-plus-al-baraka-banks-net-income-up-51-9-y-o-y-in-3q\/\">\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\/13\/macro-group-sees-an-uptick-in-3q-net-income-after-a-difficult-9m-plus-al-baraka-banks-net-income-up-51-9-y-o-y-in-3q\/&title=Macro Group sees an uptick in 3Q net income after a difficult 9M. PLUS: Al Baraka Bank\u2019s net income up 51.9% y-o-y in 3Q\">\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=Macro+Group+sees+an+uptick+in+3Q+net+income+after+a+difficult+9M.+PLUS%3A+Al+Baraka+Bank%E2%80%99s+net+income+up+51.9%25+y-o-y+in+3Q+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F13%2Fmacro-group-sees-an-uptick-in-3q-net-income-after-a-difficult-9m-plus-al-baraka-banks-net-income-up-51-9-y-o-y-in-3q%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\/13\/macro-group-sees-an-uptick-in-3q-net-income-after-a-difficult-9m-plus-al-baraka-banks-net-income-up-51-9-y-o-y-in-3q\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1186.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655112\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/macro-group-sees-an-uptick-in-3q-net-income-after-a-difficult-9m-plus-al-baraka-banks-net-income-up-51-9-y-o-y-in-3q\/1186-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1186.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1186.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1186.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1186.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655111\" class=\"content-area-description single-story post-655111 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-al-baraka-bank tag-banking tag-earnings-watch tag-enterpriseam tag-healthcare tag-macro-group tag-pharma 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\/.bd079c8b-cf39-475e-8f35-0947907fb0f1.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The 9M and 3Q earnings reports continue to trickle in this morning, <\/strong>with Macro Group Pharma reporting a net loss in the first nine months of the year and Al Baraka Bank seeing its bottomline log solid growth in 3Q 2024.<\/p>\n<p class=\"tag-border-left\">MACRO GROUP TOU<strong>TS 3Q AS \"BEGINNING OF GROWTH PHASE\u201d AFTER <\/strong>DIFFULT YEAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Macro Group records EGP 66 mn in losses for 9M 2024: <\/strong>Macro Group Pharma saw its bottom line fall 167% y-o-y to record a net loss of EGP 66 mn for the first nine months of the year, with the cosmeceuticals company citing inventory adjustments and one-off impairment losses as driving the drop in its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1080.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Revenues for the period also fell 46% y-o-y to EGP 319 mn, impacted by a 36% drop in sales volumes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the third quarter showed some positive signs: <\/strong>The firm registered a net income of EGP 23 mn during the quarter. The earnings release noted that demand for products at the pharmacy level has strengthened during the quarter, \u201cleaving us optimistic about future sales growth.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>Upping exports is still part of the company\u2019s long-term vision, with company chairman Ahmed Elnayeb saying that expansion into new markets \u201cremains a key strategy to counter local challenges, mitigate currency risks, and broaden our market reach.\u201d Elnayeb also noted that Macro Group\u2019s shareholders have extended the company an EGP 158 mn loan to finance the company\u2019s working capital and fund its restructuring.<\/p>\n<p class=\"tag-border-left\">AL BARAKA BANK LOGGED SOLID GROWTH IN 3Q 2024-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Baraka Bank Egypt reported a 51.9% y-o-y increase in net income in 3Q 2024 to record <\/strong><strong>EGP 888.2 mn, <\/strong>up from EGP 584.7 mn in the previous period, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1147.pdf\" style=\"\" rel=\"noopener\">consolidated financial statements<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1147.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. The lender\u2019s income from Murabaha, Musharaka, and Mudarabah jumped by 59% y-o-y to EGP 5.1 bn, up from EGP 3.2 bn 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>The year has been good to the lender so far,<\/strong> with the bank logging in EGP 2.2 bn in net income during 9M 2024, up 38.3% y-o-y from the EGP 1.6 bn recorded last year during the same period. The bank also saw its Islamic income-sharing and trade income rise by 57.2% y-o-y to reach EGP 13.7 bn, up from EGP 8.7 bn during 9M 2023.<\/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\/al-baraka-bank\/\">Al Baraka Bank<\/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\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/macro-group\/\">Macro Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/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=\"655113\" 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=\"655113\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/pwc-taps-yasmine-hammad-as-transfer-pricing-partner\/\">\r\n                            PwC taps Yasmine Hammad as transfer pricing partner                        <\/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\/13\/pwc-taps-yasmine-hammad-as-transfer-pricing-partner\/\" 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\/13\/pwc-taps-yasmine-hammad-as-transfer-pricing-partner\/')\">\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\/13\/pwc-taps-yasmine-hammad-as-transfer-pricing-partner\/\">\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=PwC taps Yasmine Hammad as transfer pricing partner&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/pwc-taps-yasmine-hammad-as-transfer-pricing-partner\/\">\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\/13\/pwc-taps-yasmine-hammad-as-transfer-pricing-partner\/&title=PwC taps Yasmine Hammad as transfer pricing partner\">\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=PwC+taps+Yasmine+Hammad+as+transfer+pricing+partner+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F13%2Fpwc-taps-yasmine-hammad-as-transfer-pricing-partner%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\/13\/pwc-taps-yasmine-hammad-as-transfer-pricing-partner\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1184.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655114\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/pwc-taps-yasmine-hammad-as-transfer-pricing-partner\/1184-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1184.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1184.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1184.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1184.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655113\" class=\"content-area-description single-story post-655113 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam tag-moves tag-pwc 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\/.602214d1-8a2e-4302-821e-46ecbf612bf4.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PwC Mid<\/strong><strong>dle East has appointed <\/strong><strong>Grant Thornton<\/strong><strong>\u2019s Yasmine Hammad<\/strong><strong> (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/yasmine-hammad-2508978a\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>) as<\/strong> <strong>transfer<\/strong><strong> pricing partner<\/strong>, she said in a LinkedIn <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7260901725224521728\/\" style=\"\" rel=\"noopener\">post<\/a>. Hammad joins the Big Four accounting firm after eight years with the Finance Ministry, in addition to two years as a transfer pricing partner at SBA-Grant Thornton and three years as Deloitte Middle East\u2019s transfer pricing director.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pwc\/\">PwC<\/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=\"655115 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=\"655115\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/655115\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655115\" class=\"content-area-description single-story post-655115 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicContactUs\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2301.jpeg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655116\" 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=\"655116\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/israeli-finance-ministers-calls-to-annex-the-occupied-west-bank-sparks-anger-and-condemnation-on-the-airwaves\/\">\r\n                            Israeli finance minister\u2019s calls to annex the occupied West Bank sparks anger and condemnation on 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\/13\/israeli-finance-ministers-calls-to-annex-the-occupied-west-bank-sparks-anger-and-condemnation-on-the-airwaves\/\" target=\"_blank\">\n                    Open in 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calls to annex the occupied West Bank sparks anger and condemnation on the airwaves\">\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=Israeli+finance+minister%E2%80%99s+calls+to+annex+the+occupied+West+Bank+sparks+anger+and+condemnation+on+the+airwaves+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F13%2Fisraeli-finance-ministers-calls-to-annex-the-occupied-west-bank-sparks-anger-and-condemnation-on-the-airwaves%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\/13\/israeli-finance-ministers-calls-to-annex-the-occupied-west-bank-sparks-anger-and-condemnation-on-the-airwaves\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1178.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655117\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/israeli-finance-ministers-calls-to-annex-the-occupied-west-bank-sparks-anger-and-condemnation-on-the-airwaves\/1178-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1178.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1178.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1178.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1178.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655116\" class=\"content-area-description single-story post-655116 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-last-nights-talk-shows tag-middle-east-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.153ba4ce-7f13-480f-b2c4-5c343fb64eb6.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Last night\u2019s airwaves were dominated by Israeli Finance Minister Bezalel Smotrich's<\/strong><strong> statements calling Israel to impose sovereignty and expand settlements in the West Bank<\/strong>, with extensive coverage of Egypt's condemnation of the far-right minister's remarks across the channels.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt condemns Israeli minister's \u201c<\/strong><strong>extremist\u201d settlement remarks:<\/strong> The Foreign Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/photo\/?fbid=882070797436101&set=a.110371057939416\" style=\"\" rel=\"noopener\">strongly condemned<\/a> remarks by Israeli Finance Minister Bezalel Smotrich calling Israel to impose sovereignty and expand settlements in the West Bank. The ministry described the comments as \u201cirresponsible\u201d and a \u201cflagrant violation\u201d of international law, humanitarian law, and UN Security Council resolutions, as well as the International Court of Justice's advisory opinion on Israeli occupation. The statement added that Smotrich's remarks reflect Israel's rejection of regional peace and \u201cthe absence of an Israeli partner capable of taking concrete steps to end the occupation.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe idea <\/strong><strong>of West Bank [settlement] expansion comes within Israeli plans stipulating that<\/strong><strong> Israel expands its territories every 25 years,\"<\/strong> international relations professor Rami Ashour told Azza Moustafa (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=GzuzsnAXddY\" style=\"\" rel=\"noopener\">watch, runtime: 8:33<\/a>). He noted that Smotrich's statements aren't his personal views, but they rather reflect the Israel's far-right\u2019s thinking process, which seeks to expand settlement plans.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.07;orphans:2;widows:2;text-align:left\"><strong>Smotrich's<\/strong><strong> remarks<\/strong><strong> are a way of testing the water:<\/strong> The idea of Israeli settlement expansion through West Bank annexation is merely a \u201ctest to gauge Arab countries' reactions\u201d and requires \u201cbilateral Arab-Israeli and Arab-American talks to reveal the true intentions behind this matter,\u201d political thinker Mostafa El Feki told Sherif Amer on Yahduth Fi Misr (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1105494514567349\" style=\"\" rel=\"noopener\">watch, runtime: 2:47<\/a>). He added that Israel is implementing a scorched earth policy in Gaza to pave the way for settlements (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=1959779267824301\" style=\"\" rel=\"noopener\">watch, runtime: 3:20<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"655118\" 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=\"655118\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/reuters-spotlights-sekems-role-in-turning-deserts-green\/\">\r\n                            Reuters spotlights Sekem\u2019s role in turning deserts green                        <\/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\/13\/reuters-spotlights-sekems-role-in-turning-deserts-green\/\" 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\/13\/reuters-spotlights-sekems-role-in-turning-deserts-green\/')\">\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\/13\/reuters-spotlights-sekems-role-in-turning-deserts-green\/\">\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=Reuters spotlights Sekem\u2019s role in turning deserts green&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/reuters-spotlights-sekems-role-in-turning-deserts-green\/\">\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\/13\/reuters-spotlights-sekems-role-in-turning-deserts-green\/&title=Reuters spotlights Sekem\u2019s role in turning deserts green\">\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=Reuters+spotlights+Sekem%E2%80%99s+role+in+turning+deserts+green+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F13%2Freuters-spotlights-sekems-role-in-turning-deserts-green%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\/13\/reuters-spotlights-sekems-role-in-turning-deserts-green\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1182.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655119\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/reuters-spotlights-sekems-role-in-turning-deserts-green\/1182-jpg-21\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1182.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1182.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1182.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1182.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655118\" class=\"content-area-description single-story post-655118 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-enterpriseam tag-sekem 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\/.4dab4fae-db70-450b-b209-4ee424e75d3c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A local social enterprise has caught Reuters\u2019 attention: <\/strong>Egypt\u2019s <a target=\"_blank\" href=\"https:\/\/sekem.com\/en\/index\/\" style=\"\" rel=\"noopener\">Sekem<\/a> was featured in a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/land-use-biodiversity\/comment-social-enterprises-are-critical-actors-protecting-biodiversity-we-need-2024-11-11\/\" style=\"\" rel=\"noopener\">Reuters<\/a> piece looking at the role of social enterprises in protecting biodiversity for its efforts to turn deserts green with regenerative farming, among a number of other sustainable development efforts. The list also featured Brazil\u2019s MapBiomas, which uses AI to help protect Amazon rainforests and Colombia\u2019s Kardianuts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s a lot to be done: <\/strong>Only 22% of nations updated their biodiversity plans at COP16 and land and sea protection targets are decades behind schedule. Combining local knowledge with innovation, the news outlet points out how these grassroots efforts restore ecosystems and create sustainable livelihoods \u2014 but scaling them requires stronger government support and private investment. <\/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\/sekem\/\">SEKEM<\/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=\"655120\" 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=\"655120\">\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\/13\/hassan-allam-properties-buys-110k-sqm-of-el-gouna-from-orascom-development-for-usd-37-4-mn-plus-allianz-egypt-tadweer-chefaa-luna-didi\/\">\r\n                            Hassan Allam Properties buys 110K sqm of El Gouna from Orascom Development for USD 37.4 mn. PLUS: Allianz Egypt, Tadweer, Chefaa, Luna, Didi                        <\/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\/13\/hassan-allam-properties-buys-110k-sqm-of-el-gouna-from-orascom-development-for-usd-37-4-mn-plus-allianz-egypt-tadweer-chefaa-luna-didi\/\" 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\/13\/hassan-allam-properties-buys-110k-sqm-of-el-gouna-from-orascom-development-for-usd-37-4-mn-plus-allianz-egypt-tadweer-chefaa-luna-didi\/')\">\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\/13\/hassan-allam-properties-buys-110k-sqm-of-el-gouna-from-orascom-development-for-usd-37-4-mn-plus-allianz-egypt-tadweer-chefaa-luna-didi\/\">\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=Hassan Allam Properties buys 110K sqm of El Gouna from Orascom Development for USD 37.4 mn. PLUS: Allianz Egypt, Tadweer, Chefaa, Luna, Didi&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/hassan-allam-properties-buys-110k-sqm-of-el-gouna-from-orascom-development-for-usd-37-4-mn-plus-allianz-egypt-tadweer-chefaa-luna-didi\/\">\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\/13\/hassan-allam-properties-buys-110k-sqm-of-el-gouna-from-orascom-development-for-usd-37-4-mn-plus-allianz-egypt-tadweer-chefaa-luna-didi\/&title=Hassan Allam Properties buys 110K sqm of El Gouna from Orascom Development for USD 37.4 mn. PLUS: Allianz Egypt, Tadweer, Chefaa, Luna, Didi\">\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=Hassan+Allam+Properties+buys+110K+sqm+of+El+Gouna+from+Orascom+Development+for+USD+37.4+mn.+PLUS%3A+Allianz+Egypt%2C+Tadweer%2C+Chefaa%2C+Luna%2C+Didi+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F13%2Fhassan-allam-properties-buys-110k-sqm-of-el-gouna-from-orascom-development-for-usd-37-4-mn-plus-allianz-egypt-tadweer-chefaa-luna-didi%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\/13\/hassan-allam-properties-buys-110k-sqm-of-el-gouna-from-orascom-development-for-usd-37-4-mn-plus-allianz-egypt-tadweer-chefaa-luna-didi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1761.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655121\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/hassan-allam-properties-buys-110k-sqm-of-el-gouna-from-orascom-development-for-usd-37-4-mn-plus-allianz-egypt-tadweer-chefaa-luna-didi\/1761-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1761.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1761.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1761.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1761.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655120\" class=\"content-area-description single-story post-655120 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-ai tag-allianz-egypt tag-also-on-our-radar tag-automotive tag-capital-markets tag-chefaa tag-development-finance tag-enterpriseam tag-financial-regulatory-authority tag-green-hydrogen tag-hassan-allam-properties tag-healthcare tag-logistics tag-manufacturing tag-orascom-development-egypt tag-pharma tag-public-enterprises-ministry tag-real-estate tag-recycling tag-renewables tag-usaid tag-waste-management wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.7007fa1d-3238-423e-8bba-684073aa19cc.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">REAL ESTATE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Orascom Development Egypt (ODE) completed the sale of a 110k sqm plot in El Gouna to<\/strong><strong> Hassan Allam Properties for USD 37.4 mn<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1108.pdf\" style=\"\" rel=\"noopener\">satament (pdf)<\/a>. The sale is expected to attract investments in El Gouna\u2019s infrastructure, amenities, and facilities, which \u201calign with ODE\u2019s long-standing mission to create vibrant, thriving communities that serve as premier destinations for living, leisure, and business,\u201d according to the statement. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The first of many? <\/strong>The statement noted that ODE \u201cis committed to fostering El Gouna\u2019s growth by diversifying its portfolio in partnership with leading reputable developers and through development projects,\u201d adding that \u201cthis strategy supports Egypt\u2019s vision for sustainable urban development while keeping El Gouna a top choice for discerning visitors.\u201d<\/p><p class=\"tag-border-left\">ENERGY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Arab nations to launch unified electricity market:<\/strong> Arab nations are set to sign two agreements next month to establish a common Arab electricity market, Arab League Energy Director Jamila Matar told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/11\/12\/%D9%85%D8%B3%D8%A4%D9%88%D9%84-%D9%84%D9%80-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D8%AA%D9%88%D9%82%D9%8A%D8%B9-%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D9%8A%D8%AA%D9%8A-%D8%A7%D9%84%D8%B3%D9%88%D9%82-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D8%A7%D9%84%D9%85%D8%B4%D8%AA%D8%B1%D9%83%D8%A9-%D9%84%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D8%AF%D9%8A%D8%B3%D9%85%D8%A8%D8%B1-%D8%A7%D9%84%D9%85%D9%82%D8%A8%D9%84\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. The agreements \u2014 forming the legal and legislative framework for the joint market \u2014 will be signed on 2 December during a meeting of the Arab Ministerial Council for Electricity being held at the new capital. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The unified market aims to connect and harmonize the energy systems of 22 Arab <\/strong><strong>countries by 2038<\/strong>, with phased implementation starting 2025, according to Matar. The market is expected to operate on a commercial mechanism, enabling energy exchange by utilizing surplus electricity from member states. The initiative, Matar added, could draw on the Gulf electricity interconnection project as a model for success.<\/p><p class=\"tag-border-left\">CAPITAL MARKETS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Allianz to launch gold investment fund: <\/strong>Allianz Egypt is awaiting the green light from the Financial Regulatory Authority to launch a gold investment fund in early 2025, two sources familiar with the matter told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/financing-and-investment\/60040\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B3%D8%B9%D9%89-%D9%84%D8%AA%D8%A3%D8%B3%D9%8A%D8%B3-%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D9%84%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D9%81%D9%8A-%D8%A7%D9%84%D8%B0%D9%87%D8%A8-%D9%85%D8%B7%D9%84%D8%B9-2025\/?utm_source=twitter&amp;utm_medium=social&amp;utm_campaign=asharqbegy\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. In the meantime, the firm is working to contract the companies that will manage the fund, one of the sources said, without disclosing the targeted size of the fund. <\/p><p class=\"tag-border-left\">RECYCLING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One person\u2019s trash is another person\u2019s treasure: <\/strong>The Waste Management Regulatory Authority inked an MoU with Abu Dhabi's Tadweer to explore potential investments and partnerships in waste management and recycling, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02Yu3FhkTeGSTuJ8qK2CQqxa2uryrLUiydg2Rf7HZBRKDXjayknbEfcbHBqesgcKGVl\" style=\"\" rel=\"noopener\">statement<\/a> from the Environment Ministry. The MoU will see the two sides explore partnerships between their public and private sectors and exchange expertise in the fields of waste management and recycling.<\/p><p class=\"tag-border-left\">TRANSPORT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Didi expands its footstep across Egypt:<\/strong> Ride-hailing app Didi Egypt expanded its services to four new cities \u2014 Hurghada, Ismailia, Suez, and Port Said, it said in a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/didi-egypt-continues-its-rapid-growth-across-egypt-adding-four-new-cities-d9rttpgb\" style=\"\" rel=\"noopener\">press release<\/a>. \u201cThis strategic move reinforces Didi Egypt\u2019s commitment to providing innovative, affordable, and reliable mobility solutions across Egypt while fostering economic growth in local communities,\u201d the release said. <\/p><p class=\"tag-border-left\">HEALTHCARE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Chefaa and USAID to<\/strong><strong> boost pharma access: <\/strong>Pharma-delivery platform Chefaa has inked an agreement with USAID Business Egypt to digitize the country\u2019s pharma supply chain to help boost healthcare access, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1120.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. Under the agreement, the two sides will support 250 pharmas by \u201cenhancing their digital presence, building pharmacist capacity, and improving their supply chain and logistics.\u201d <\/p><p class=\"tag-border-left\">LOGISTICS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Luna to build EUR 9 mn logistics complex:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/luna-perfumes-and-cosmetics-pac-s-a-e-\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">Luna Perfumes and Cosmetics<\/a> plans to build a EUR 9 mn logistics complex in Sixth of October's fourth industrial zone, CEO Rania George told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/11\/12\/1842624\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The 5k-sqm facility will link the company's factory with distributors across different governorates and will be completed within five years, according to George. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s the money coming from?<\/strong> The company secured funding for 31% of the project's total investments through Germany's Facility Investing for Employment (IFE) initiative in an agreement inked yesterday, a separate report from <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/11\/12\/1842532\" style=\"\" rel=\"noopener\">Al Borsa<\/a> details. IFE also inked a EUR 5.4 mn grant agreement with <a target=\"_blank\" href=\"https:\/\/rofayda.org\/\" style=\"\" rel=\"noopener\">Rofayda Health Park<\/a> and is reviewing projects in the education, industry, and textiles sectors for up to EUR 20 mn in grants, according to the outlet.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Van Oord completes dredging for Ain Sokhna port expansion: <\/strong>Dutch dredging company Van Oord has completed dredging two new port basins in Ain Sokhna Port as part of an expansion project aimed at enhancing the Suez Canal Economic Zone, according to a company <a target=\"_blank\" href=\"https:\/\/www.vanoord.com\/en\/updates\/van-oord-completes-major-dredging-project-egypt\/\" style=\"\" rel=\"noopener\">statement<\/a>. The project involved dredging around 21 mn cbm of soil over a 14-month period.<\/p><p class=\"tag-border-left\">RENEWABLES-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A green hydrogen maritime line connecting Egypt and Europe? <\/strong>Representatives from German companies and the German-Arab Chamber of Industry and Commerce offered to submit a study on a proposed new maritime line connecting Egypt to Europe to export green hydrogen in a meeting with Public Enterprise Minister Mohamed El Shimi, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02bv71D6aa7wUkyVBiTiDAWTummERCSuDp5cBFMt56aukjzFhZ9MAUnbS8F6z6HS1Wl\" style=\"\" rel=\"noopener\">ministry statement<\/a>. <\/p><p class=\"tag-border-left\">REGULATION-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FRA lightens red tape to boost carbon certificate market participation: <\/strong>The Egyptian Financial Regulatory Authority (FRA) has amended the rules for registering and delisting carbon emission reduction certificates on the EGX to encourage more companies to participate, according to an FRA <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0A3LgBFuou2xfJ4ueNddkeLdGQwjxxd2wFv1vRYyenUyiSizrju9pPsGbrD8J5rCjl\" style=\"\" rel=\"noopener\">statement<\/a>. The amendments allow carbon reduction projects to be registered in the project database prior to receiving a validation report as long as the validation report is submitted within a year. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>Egypt launched Africa\u2019s first <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bf6f83bf-cf94-4686-a908-2e5c27b3c511\/egypt-launches-africa%e2%80%99s-first-carbon-market\" style=\"\" rel=\"noopener\">voluntary carbon trading market<\/a> in August, allowing companies to issue and trade voluntary carbon certificates in Egypt and Africa, which can be bought by other companies wanting to offset their emissions.<\/p><p class=\"tag-border-left\">AI-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Logic Consulting and Sequence Ventures launch AI firm iVolution: <\/strong>Homegrown firm <a target=\"_blank\" href=\"https:\/\/logic-consulting.com\/\" style=\"\" rel=\"noopener\">Logic<\/a><a target=\"_blank\" href=\"https:\/\/logic-consulting.com\/\" style=\"\" rel=\"noopener\">Consulting<\/a> has partnered with deeptech investment firm <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/sequence-venture\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">Sequence Ventures<\/a> to launch consulting company iVolution, which will help organizations adopt AI strategies, Logic said in a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/logic-management-consulting_ivolution-announcment-day-activity-7257768279283302400-mnFQ?utm_source=share&amp;utm_medium=member_desktop\" style=\"\" rel=\"noopener\">statement<\/a>. The company aims to facilitate innovation adoption by offering tailored strategies and services to help institutions embrace ongoing digital transformations. <\/p><p class=\"tag-border-left\">PHARMA-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Three new pharma med supplies factories in the works in Luxor:<\/strong> Three medical supplies manufacturers have received land plots in the Baghdadi Industrial Zone in Luxor to set up new facilities with total investments exceeding EGP 200 mn, zone head Mostafa Abdel Halim told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/11\/12\/1842662\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The companies plan to begin construction next year, with completion and operation expected within 16 months.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new freezone in Luxor?<\/strong> High interest from investors in the industrial complex prompted the governorate to propose establishing a freezone within the complex to diversify investment options, according to Abdel Halim. He added that the Baghdadi complex plans to request an additional 100 feddans from the cabinet\u2019s National Center for Planning State Land Use by the end of December.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/allianz-egypt\/\">Allianz Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\" 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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\/13\/china-braces-for-trade-war-2-0-with-some-mena-markets-poised-to-gain\/\">\r\n                            China braces for trade war 2.0, with some MENA markets poised to gain                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/china-braces-for-trade-war-2-0-with-some-mena-markets-poised-to-gain\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1176.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655123\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/china-braces-for-trade-war-2-0-with-some-mena-markets-poised-to-gain\/1176-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1176.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1176.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1176.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1176.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655122\" class=\"content-area-description single-story post-655122 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-china tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.7974cd1b-61bf-450b-8d45-386995d1cbc3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>China is bracing for a renewed trade war with the US \u2014<\/strong> <strong>but the fallout could offer a silver <\/strong><strong>lining for our corner of the world:<\/strong> As China faces another round of tariffs from US president-elect Donald Trump\u2019s incoming administration, some expect the world\u2019s second largest economy to double down on its export industries. While economists believe such a move would allow China absorb a significant portion of the tariffs\u2019 hit to its GDP, the combined effect could have an added upside for some of us here in the MENA region \u2014 cheaper imported Chinese goods coupled with stronger regional currencies to buy them with.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Beijing\u2019s most likely response to US tariffs? Opening the fiscal taps.<\/strong> An overwhelming majority of economists <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-12\/china-seen-countering-trump-tariffs-with-stimulus-weaker-yuan?embedded-checkout=true\" style=\"\" rel=\"noopener\">surveyed this week by Bloomberg<\/a> expect the Chinese government to widen its budget deficit next year, with an emphasis on shoring up key sectors like housing and advanced manufacturing. China could also seek to develop their trade ties with other trade partners \u2014 though they may risk backlash as cheaper Chinese exports undercut domestic manufacturing.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Analysts also widely expect China to allow its currency to devalue: <\/strong>China\u2019s CNY is already feeling the heat of incoming tariffs, with the CNY falling to 7.25 against the USD on Tuesday \u2014 the weakest it\u2019s been since August. The economists surveyed by Bloomberg penciled in a fall of anywhere between 7.3-8 to the greenback next year, with analysts split over whether China will attempt to prop up the currency in a bid to discourage capital outflows.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>China\u2019s counterpunch:<\/strong> US agricultural exports, including soybeans, beef, and corn, are likely to be the first targets of Chinese counter-tariffs, reprising tactics from China\u2019s last trade war with Trump. These moves are also likely to hit the hardest in farms and factories in the US\u2019 Midwest and south, which are key constituencies of support for the incoming president.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While they\u2019re duking it out, MENA could benefit: <\/strong>JP Morgan analysts speaking to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/trump-victory-boost-em-equities-middle-east-north-african-region-jpmorgan-says-2024-11-12\/\" style=\"\" rel=\"noopener\">Reuters<\/a> expect a stronger USD, higher US bond yields, and shifting trade policies to set the stage for a rally in MENA markets. The bank highlighted that USD-pegged economies in the MENA region \u2014 including Saudi Arabia, Qatar, the UAE, Oman, and Bahrain \u2014 stand to benefit more than other emerging markets, as they will have stronger currencies with which to buy relatively cheaper Chinese goods. Egypt and other non-USD-pegged economies in the region could also see the benefits of lower import prices, which given the relatively low development of manufacturing in the region are less likely to hurt overall growth.<\/p><p class=\"tag-border-left\">MARKETS THIS MORNING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are starting the day in the red in early trading this morning<\/strong>, broadly tracking losses in US markets as the post-election Trump trade euphoria fizzled out yesterday. Korea\u2019s Kospi is down -1.5%, while Japan\u2019s Nikkei is at -1.4% and Hong Kong\u2019s Hang Seng is -1.0%.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">31,582<\/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: +26.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 49.15<\/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 49.29<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB<\/strong><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 49.16<\/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 49.26<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,048<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: -0.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,420<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: -1.7%)<\/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>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\">4,701<\/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: +15.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,984<\/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: +25.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,026<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2% (YTD: +3.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,745<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.3% (YTD: +4.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 71.85<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1%<\/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>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 2.91<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2%<\/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 2,606.30<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 88,175.20<\/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: +109.4%)<\/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 fell 0.1% at yesterday\u2019s close<\/strong> on turnover of EGP 4.5 bn (6.5% above the 90-day average). International investors were the sole net buyers. The index is up 26.9% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Faisal Islamic Bank of Egypt -EGP (+7.0%), Credit Agricole (+4.2%), and AMOC (+4.0%).<\/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 (-2.9%), Juhayna (-2.9%), and B Investments Holding (-2.4%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"655124\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">12<\/div>\r\n    \r\n                        <p class=\"f-graphik\">HARDHAT<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/smart-ports-aim-to-transform-egypts-logistics-landscape\/\"> \r\n                            Smart ports aim to transform Egypt\u2019s logistics landscape<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/smart-ports-aim-to-transform-egypts-logistics-landscape\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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These services aim to transform Egypt into an integrated logistics zone, all the while increasing port efficiency and positioning us as the region\u2019s transport hub of choice.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s a smart port, anyway?<\/strong> At its core, a smart port uses digital tools \u2014 like the Internet of Things (IoT), AI, and big data \u2014 to streamline operations and reduce costs. These technologies support automated equipment, real-time monitoring, and advanced analytics, which together enable ports to make data-informed decisions that optimize efficiency and improve safety. For Egypt, smart port integration could mean smoother operations, lower emissions, and the potential for higher regional competitiveness.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The drive to modernize Egypt\u2019s ports has gained traction in the last few years: <\/strong>In 2021, Alexandria Port Authority activated Egypt\u2019s first system to track ship movements and maritime incidents on interactive GPS maps. Since then, other ports have jumped on the automation bandwagon, with all four ports in question implementing an automated system for truck reservations based on customs release schedules, reducing congestion within ports and near docks, the source told EnterpriseAM. All ports are now equipped with information infrastructure, fiber-optic lines, and an environmental safety network for waste management.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Digitization has been a key factor: <\/strong>Digital upgrades \u2014 like East Port Said Port\u2019s introduction of electronic gates and prepayment for trucks and cars entering the port \u2014 aim to trim efficiency losses and save on the time and effort of both employees and the public. The Egyptian Authority for Maritime Safety, for instance, has digitized its document cycle using an electronic archive, saving employees significant work. It also provides several services to the public on its website, including an electronic payment system, reducing workloads and providing a convenient option for customers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Damietta Port provides one example of the possibilities on offer: <\/strong>The Damietta Port Authority uses automated systems to track goods that have not yet been released and those in transit, as well as systems that recognize trucks and equipment \u2014 all accessible from the same platform. It also has a system for dispensing and adding warehouse items, allowing monitoring of item movements across all the authority's warehouses. The port\u2019s operations are also integrated with government entities via the CIT Ministry\u2019s integrated government gateway.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Nafeza platform \u2014 first launched in <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6c476e4-b695-4719-b2c4-57a24eba139c\/this-morning:-we-should-be-inking-contracts-to-link-grids-with-saudi-this-week-%2B%253cmark%253e-nafeza%253c%2Fmark%253e-is-here\" style=\"\" rel=\"noopener\">2021<\/a> <strong> \u2014 has also been a game changer for<\/strong> <strong>ports, <\/strong>allowing users to track their shipments simply through a touch of a button on their phones, a government official from Nafeza told EnterpriseAM. The Finance Ministry\u2019s digital customs system provides a one-stop-shop for the trade community to submit all documents and conduct all transactions in one place \u2014 whether customs, regulatory, or port-related. It also operates under international standards for facilitating the release of goods and has helped push Egypt in the direction of becoming a unified logistics zone \u2014 a project that could get a boost with the inclusion of air cargo into the Nafeza system by 2025, the source adds. The Finance Ministry plans to build on this in the coming period by cutting customs release times down to less than two days, a Customs Authority source tells us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Challenges on the road to smart ports:<\/strong> Despite these promising developments, Egypt\u2019s logistics and port industries face some major obstacles. Legacy infrastructure and limited resources make it difficult to deploy compatible technology across all port activities. The expansion of port facilities throws another factor into the mix, with these areas needing to be integrated into systems alongside existing and much older port facilities. There are also regulatory and cybersecurity challenges that come with digitizing port operations, which require considerable investment and specialized skills development. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Automation solves some issues, but it isn\u2019t a panacea, <\/strong>Secretary-General of the Chamber of Transport and Logistics Amr El Samadony told EnterpriseAM. Despite steps forward in automation, overly stringent procedures and document requirements continue to delay release operations \u2014 particularly as Egyptian ports grow in size, Samadouny noted. Simplifying customs procedures and payment processes themselves would be just as useful to importers, and would actually enhance the efficiency of digital transformation at Egypt\u2019s ports, he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We also have some pretty serious regional competition: <\/strong>Egypt\u2019s neighbors in the GCC have made impressive strides in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/46f4617d-e44b-4dc5-b3cf-f09184a9203b\/can-deploying-smart-port-operations-be-a-game-changer-for-the-industry%3F\" style=\"\" rel=\"noopener\">integrating smart port technology<\/a>, with ports like Jebel Ali in Dubai and King Abdullah Port in Saudi Arabia using AI, blockchain, and 5G to push operational efficiency and sustainability. While these advanced capabilities offer a competitive edge, Egypt\u2019s strategic location and its recent steps toward digitalization could still position it as a strong player in the region, if we move quickly.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s still significant room to grow in the smart ports arena: <\/strong>Many ports around the world are using AI to implement predictive maintenance and scheduling, with these systems helping ports anticipate breakdowns and optimize ship docking schedules. Automated vehicles and equipment like cranes are also capable of working around the clock with precision, increasing productivity and reducing the possibility of human error. This can yield real reductions in the cost of doing business, with China\u2019s port operator Tianjin Port Group and Huawei estimating that their automation solutions \u2014 like integrated AI, IoT, cloud computing, and autonomous trucks \u2014 have reduced necessary work personnel by 60%.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Telecom Egypt and Vodafone Egypt signed <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f84fed16-43df-4cc8-a703-c354b04f2a7e\/vodafone-egypt,-telecom-egypt-ink-egp-30-bn-worth-of%253cmark%253e-infrastructure%253c%2Fmark%253e-services,-5g-agreements\" style=\"\" rel=\"noopener\">EGP 30 bn worth of commercial<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f84fed16-43df-4cc8-a703-c354b04f2a7e\/vodafone-egypt,-telecom-egypt-ink-egp-30-bn-worth-of%253cmark%253e-infrastructure%253c%2Fmark%253e-services,-5g-agreements\" style=\"\" rel=\"noopener\">agreements<\/a><\/strong> to enhance infrastructure services and accelerate the rollout of 5G technologies. The partnership includes extending Telecom Egypt\u2019s messaging services agreement with Vodafone Egypt until 2031, a four-year fiber optics connection agreement, and new agreements for virtual fixed and internet services. <\/li>\n<li><strong>Siemens has <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/88db01cc-18d1-4f8d-a925-4d8594715f56\/electricity-ministry-sets-offtake-prices-for-stored-solar-energy.-plus:-knauf-%2B-hassan-allam-construction,-siemens,-dynamic-distribution,-aton\" style=\"\" rel=\"noopener\">completed construction<\/a><\/strong><strong> of a EGP 385 mn power transformer station<\/strong> that will feed the eighth industrial zone expansion in Sadat City. The 220\/66\/22 kV station will power the 1.5k-feddan industrial expansion area, as well as electricity networks in the southern and western extensions.<\/li>\n<li><strong>Egypt and Djibouti inked an MoU to jointly <\/strong><strong><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\">develop infrastructure projects<\/a><\/strong>, pointing to ports, roads, logistics zones, and renewable energy facilities as projects that Egyptian companies could offer their expertise and experience for.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ai\/\">AI<\/a>\n                <!-- <span 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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>11-15 November (Monday-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 November (Tuesday): Atlas shareholders\u2019 deadline to respond to Amoun MTO.<\/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>2 December (Monday): Signing of the Arab Common Electricity Market agreements, New Administrative Capital, Egypt.<\/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>1Q 2025: Egypt-Azerbaijan joint committee meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2Q 2025: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad18b775-3e22-4e6b-b4fc-9dd30f4b85ad\/abu-dhabi-ports-to-build-and-run%253cmark%253e-safaga-terminal%253c%2Fmark%253e,-cruise-ship-infrastructure\" style=\"\">Safaga Terminal 2<\/a><\/span><span style=\"font-weight:400;\"> to start operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Mid-2025: The Administrative Capital for Urban Developments to roll out the second phase of offering industrial plots to investors. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20 January-7 February: Egypt to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f9a5a94-cc1c-4fc1-b8c6-7c02d15cae3b\/ramadan-kareem\" style=\"\">host the African Games<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2027: Trial operations at the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52aa0e65-5b6f-4c84-aa49-70ac4152bb87\" style=\"\">Dabaa nuclear power plant<\/a><\/span><span style=\"font-weight:400;\"> expected to take place.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Steel is real | Repudiations | Time to get drilling | A new NBFI leader incoming? | Hassan Allam secures another piece of El Gouna<\/p>\n","protected":false},"featured_media":655098,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-655097","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"933ce85a-6b08-4a8c-92ba-d400abb443ed","teaser":"Steel is real | Repudiations | Time to get drilling | A new NBFI leader incoming? | Hassan Allam secures another piece of El Gouna","photo_url":"https:\/\/ent.news\/2024\/8\/2087.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>Malaysian automaker Proton cuts the ribbon on EGP 3 bn assembly plant - 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\" 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