{"id":655376,"date":"2024-11-18T00:00:00","date_gmt":"2024-11-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=655376"},"modified":"2025-12-18T01:24:10","modified_gmt":"2025-12-18T01:24:10","slug":"president-abdel-fattah-el-sisi-is-in-brazil-for-the-g20-summit-set-to-kick-off-today","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/president-abdel-fattah-el-sisi-is-in-brazil-for-the-g20-summit-set-to-kick-off-today\/","title":{"rendered":"President Abdel Fattah El Sisi is in Brazil for the G20 Summit set to kick off today"},"content":{"rendered":"<section id=\"655378\" 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=\"655378\">\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\/18\/govt-lays-out-privatization-targets-for-fiscal-year\/\">\r\n                            Gov\u2019t lays out privatization targets for fiscal year                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-state-privatization-program 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\/.511f1d43-4b9c-4c5f-b476-d9b1c8e63a3f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, folks<\/strong><strong>. <\/strong>Unlike the weather, local business news is continuing to heat up this week. In another packed issue of EnterpriseAM Egypt, we\u2019ve got news that President Abdel Fattah El Sisi is in Rio for the G20 Summit, a fresh securitized bond issuance, talk of plenty more privatization announcements to come, and much, much more. Space is at a premium in today\u2019s issue, so let\u2019s jump right in.<\/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- Temperatures are continuing to gradually creep down in Cairo today,<\/strong> with a high of 24\u00b0C and a low of 16\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>You better get your umbrella at the ready if you\u2019re in Alexandria<\/strong>, with scattered showers expected across the coast, along with a high of 23\u00b0C and a low of 15\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\">HAPPENING THIS WEEK- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- President Abdel Fattah El Sisi is in Brazil for the G20 Summit set to kick off today. <\/strong>El Sisi touched down in Rio de Janeiro yesterday for the <a target=\"_blank\" href=\"https:\/\/www.g20.org\/en\/about-the-g20\/summit-rio-2024\" style=\"\" rel=\"noopener\">G20 Leaders\u2019 Summit<\/a> set to formally begin today and wrap up tomorrow, according to an Ittiyadiya <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid0npKqnD7km9EGvXvSVA4PZXxB5vc5Luk2Jvz1xBDBorz7tvByY3MZyanwU4kBFBavl\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On El Sisi\u2019s agenda: <\/strong>During the summit, El Sisi will address the summit to highlight Egypt\u2019s development efforts, the challenges facing developing nations as they try to achieve SDGs, and the importance of cooperation. The president will also highlight \"continued Israeli escalation\u201d in Palestine and Lebanon at the summit.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the sidelines:<\/strong> El Sisi is also expected to meet with a number of world leaders on the sidelines of the summit for discussions centered around bilateral relations, sustainable development, and regional escalations. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But wait, Egypt isn\u2019t a G20 country? <\/strong>The Group of 20 is made up of 19 nations, the European Union, and also the African Union as of 2023. Brazil \u2014 as the current head of the group under its rotating presidency \u2014 invited Egypt to attend G20 meetings this year as a guest nation <a target=\"_blank\" href=\"https:\/\/www.g20.in\/en\/about-g20\/about-g20.html\" style=\"\" rel=\"noopener\">alongside<\/a> fellow guests Oman, UAE, Nigeria, and five other nations. This is the second year in a row that Egypt has been invited as a guest to the G20 \u2014 following its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/971e6d31-7758-4c9f-b832-a88806eb291b\" style=\"\" rel=\"noopener\">participation<\/a> in New Delhi last year.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- It\u2019s day two of <\/strong><strong><a target=\"_blank\" href=\"https:\/\/cairoict.com\/\" style=\"\" rel=\"noopener\">Cairo ICT<\/a><\/strong><strong> 2024: <\/strong>The International Technology Fair and Forum for the MENA region kicked off yesterday and will run until Wednesday at the Egypt International Exhibition Center under the theme The Next Wave. The event gives participants the chance to explore emerging technologies, engage with tech leaders, and take part in hands-on demos. You can register <a target=\"_blank\" href=\"https:\/\/cairoict.com\/visitor-registration\/\" style=\"\" rel=\"noopener\">here<\/a> and check out the agenda <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1595.pdf\" style=\"\" rel=\"noopener\">here (pdf)<\/a>.<\/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=\"wwtt2\"><\/a> <strong>Gov\u2019t lays out sectors targeted for privatization by the end of the <\/strong><strong>fiscal year: <\/strong>Cabinet spokesperson Mohamed El Homsani namechecked banking, airports, pharma, plastics, glass, and petrochemicals as among the sectors sectors where we will see stakes in state-owned entities offered up by the end of June, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0DAXGJ8VcwayMEpdjzEiHW3roQpkeE5tSo7zDYTtbkHRDfsfvLTciQC6HGfXWcgtXl?rdid=h7lRrHDSwBaduJfG\" style=\"\" rel=\"noopener\">statement<\/a> <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government has another 15 privatization targets up its sleeves for after <\/strong><strong>the current fiscal year: <\/strong>In addition to the state-owned entities that the government is planning to sell stakes in by the end of the current fiscal year, there are another 15 stake offerings in the pipeline for after. Prime Minister Mostafa Madbouly urged the swift finalization of these planned offerings during the meeting of the cabinet\u2019s Economic Ministerial Group, the statement read.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Investment Minister Hassan El Khatib is set to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5915c925-ff5d-404b-85af-3d657f921b3c\/government-to-unveil-revamped%253cmark%253e-privatization-program%253c%2Fmark%253e-before-december\" style=\"\" rel=\"noopener\">unveil the government\u2019s revamped<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5915c925-ff5d-404b-85af-3d657f921b3c\/government-to-unveil-revamped%253cmark%253e-privatization-program%253c%2Fmark%253e-before-december\" style=\"\" rel=\"noopener\">privatization program<\/a> before the end of the month, Prime Minister Moustafa Madbouly told journalists earlier this month.<\/p><p class=\"tag-border-left\">IN THE HOUSE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>MPs are back in the House again today<\/strong> to resume discussions over draft laws that pertain to refugees, the newly amended Criminal Procedures Law, and urban development plans. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Rent laws to be discussed: <\/strong>The House\u2019s Housing Committee will review laws regulating rents for housing units and residential properties, especially pertaining to the fixed rent for residential properties stipulated in the so-called \u201cold rent\u201d law following the Supreme Constitutional Court\u2019s ruling that the law is unconstitutional. House Speaker Hanafy Gebaly told the housing, local administration, and legislative and constitutional affairs committees yesterday to conduct an analysis of the court\u2019s ruling and draft a new rent law accordingly.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong>Earlier this month, the Supreme Constitutional Court <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ba456530-84e8-4f51-b12d-40a44eb76292\/%253cmark%253eold-rent%253c%2Fmark%253e-law-set-for-an-overhaul%3F\" style=\"\" rel=\"noopener\">ruled the fixed rent for<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ba456530-84e8-4f51-b12d-40a44eb76292\/%253cmark%253eold-rent%253c%2Fmark%253e-law-set-for-an-overhaul%3F\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ba456530-84e8-4f51-b12d-40a44eb76292\/%253cmark%253eold-rent%253c%2Fmark%253e-law-set-for-an-overhaul%3F\" style=\"\" rel=\"noopener\">residential properties stipulated in the so-called \u201cold rent\u201d law as unconstitutional<\/a> and called on lawmakers to amend the first two articles of the law before the legislative season comes to a close. The court argued that the fixed annual rent cap set at 7% of the land and building\u2019s value at the time of licensing showed the law\u2019s failure to take into account inflation is unfair and denies landlords rights afforded to them under the constitution.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- More talk about draft refugee law, following the House\u2019s preliminary approval <\/strong><strong>yesterday:<\/strong> The House will continue discussing the government-drafted law that aims to establish a legal framework for refugees\u2019 status, rights and obligations, after the law received preliminary approval yesterday. The bill proposes creating a permanent committee for refugee affairs to handle all refugee-related matters, including managing data and statistics.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The Criminal Procedures Law will also be up for further discussion:<\/strong> The newly amended Criminal Procedures Law will be put up for a second week of discussion ahead of the final vote by the House, so as to give more political entities and people more time to voice their opinions on the law.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- The House will explore urban development plans:<\/strong> MPs will hear from Housing Minister Sherif El Sherbiny as he lays out plans to tackle urban expansion, scale up fourth-generation cities, resolve building violations, and boost housing programs. <\/p><p class=\"tag-border-left\">SIGN OF THE TIMES- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shipping giants are feeling the pinch of Red Sea disruptions<\/strong>: German shipping giant Hapag-Lloyd saw its net income dip 46.5% y-o-y during the first nine months of the year to record USD 1.8 bn despite transport volumes being up 4.6%, it said in its latest <a target=\"_blank\" href=\"https:\/\/www.hapag-lloyd.com\/en\/company\/press\/releases\/2024\/11\/hapag-lloyd-achieves-good-result-in-first-three-quarters-of-2024.html\" style=\"\" rel=\"noopener\">earnings release<\/a>. \u201cIn view of lower freight rates in the first half of the year 2024 and increased transport expenses due to the rerouting of ships around the Cape of Good Hope, these results are below the prior-year level, as expected,\u201d the company said. <\/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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing, we spoke to Beko\u2019s Regional Director \u00dcmit G\u00fcnel for our Manufacturer of the Month column. Check out the story <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2233d78b-7c6c-4509-9c21-77ca090dd3a1\/\" style=\"\" rel=\"noopener\">here<\/a>. <\/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>Biden agrees to Ukraine hitting Russian targets with US long-range missiles:<\/strong> In a change of pace from the wall-to-wall coverage of US elections, the international press is focused this morning on reports that Washington agreed to let Ukraine use long-range US missiles to hit targets \u201cdeep\u201d in Russian territory. The approval marks a change in Washington\u2019s policy on Kyiv and Moscow\u2019s ongoing war, which officials and other sources quoted in several newspapers say comes on the back of North Korea sending ground troops to support Russian forces. North Korea had sent 10k elite troops to Russia\u2019s Kursk region near Ukraine\u2019s northern border <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/11\/10\/europe\/russia-north-korea-forces-prepared-kursk-ukraine\/index.html\" style=\"\" rel=\"noopener\">last week<\/a> to help Russia regain control of the territory. The story is getting play in the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/11\/17\/us\/politics\/biden-ukraine-russia-atacms-missiles.html\" style=\"\" rel=\"noopener\">New York Times<\/a>, the <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/national-security\/2024\/11\/17\/ukraine-russia-north-korea-atacms\/\" style=\"\" rel=\"noopener\">Washington Post<\/a>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-17\/us-nearing-decision-to-let-ukraine-hit-some-targets-in-russia\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/biden-lifts-ban-ukraine-using-us-arms-strike-inside-russia-2024-11-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a>, the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/europe\/biden-approves-ukraines-use-of-long-range-missiles-inside-russia-003154be\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>, and the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/cc565d8e-e5c2-4b04-9b61-b05fb8edcb49\" style=\"\" rel=\"noopener\">Financial Times<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN OUR NECK OF THE WOODS-<\/strong> An Israeli airstrike on a building in central Beirut yesterday killed Hezbollah\u2019s chief spokesperson, Mohammed Afif. Israel also attacked Mar Elias in the center of the Lebanese capital, killing at least two and wounding 22. <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israeli-strike-beirut-kills-hezbollah-media-relations-chief-security-sources-say-2024-11-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6ff95416-feb9-40e9-8abc-cef39311a949\" style=\"\" rel=\"noopener\">Financial Times<\/a> have coverage. <\/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\/2495.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue:<\/strong> We take a deep dive into state efforts to increase tech awareness. <\/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\/state-privatization-program\/\">state privatization program<\/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=\"655380 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=\"655380\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/18\/655380\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655380\" class=\"content-area-description single-story post-655380 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=\"\">, 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=\"655381\" 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=\"655381\">\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\">M&amp;A WATCH-<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/18\/ezdehar-management-completes-full-acquisition-of-zahran-market\/\">\r\n                            Ezdehar Management completes full acquisition of Zahran Market after purchasing remaining 40% stake                        <\/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\/18\/ezdehar-management-completes-full-acquisition-of-zahran-market\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" 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completes full acquisition of Zahran Market&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/18\/ezdehar-management-completes-full-acquisition-of-zahran-market\/\">\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\/18\/ezdehar-management-completes-full-acquisition-of-zahran-market\/&title=Ezdehar Management completes full acquisition of Zahran Market\">\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=Ezdehar+Management+completes+full+acquisition+of+Zahran+Market+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F18%2Fezdehar-management-completes-full-acquisition-of-zahran-market%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\/18\/ezdehar-management-completes-full-acquisition-of-zahran-market\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1616.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655382\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/18\/ezdehar-management-completes-full-acquisition-of-zahran-market\/1616-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1616.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1616.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1616.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1616.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655381\" class=\"content-area-description single-story post-655381 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-enterpriseam tag-ezdehar tag-private-equity tag-retail tag-zahran 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\/.55233ab2-9180-4987-a2e1-e30459ee003c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Ezdehar now fully owns Zahran Market:<\/strong> Private equity outfit Ezdehar Management has purchased the remaining 40% stake of supermarket chain Zahran Market, bringing its total stake up to 100%, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1589.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The company did not disclose the value of the transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Ezdehar initially acquired a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/af3d3887-1c69-4d79-a0d6-09cf199ff825\/%253cmark%253eezdehar%253c%2Fmark%253e-gets-into-the-supermarket-business-%2B-is-petronas-looking-to-sell-some-egypt-assets%3F\" style=\"\" rel=\"noopener\">60% stake<\/a> in Zahran Market back in 2022 through its Mid-Cap Fund II (EMF II). While the value of the transaction wasn\u2019t disclosed at the time, the firm had said that it was looking to write tickets in the USD 5-30 mn range through the fund.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Zahran has grown over the last few years:<\/strong> Zahran Market now operates 20 branches in 10 governorates across Egypt, up from 16 branches in seven governorates back in 2022. The company also holds a \u201cunique presence in underserved regions such as the Delta and the North Coast,\u201d the statement said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cOver the past two years, Ezdehar has worked closely with the Zahran family to modernize the company\u2019s operations, enhance its management systems, and expand its market presence. This milestone represents not just the culmination of a successful collaboration but also our belief in the long-term potential in Egypt\u2019s retail sector,\u201d Ezdehar co-founder Amr El Salanekly said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> Compass Capital acted as the exclusive sell-side advisor to Zahran Market, Matouk Bassiouny and Hennawy Advocates &amp; Legal Consultants provided legal counsel, and ADSERO (Ragy Soliman and Partners) Advocates and Legal Consultants provided legal advice to Ezdehar.<\/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\/ezdehar\/\">Ezdehar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/private-equity\/\">private equity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/retail\/\">retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/zahran\/\">Zahran<\/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=\"655383\" 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=\"655383\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/18\/supply-chain-tech-startup-qara-secures-usd-2-6-mn-in-funding-to-drive-expansion\/\">\r\n                            Egypt-born startup Qara secures USD 2.6 mn in funding to drive 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\/18\/supply-chain-tech-startup-qara-secures-usd-2-6-mn-in-funding-to-drive-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\/18\/supply-chain-tech-startup-qara-secures-usd-2-6-mn-in-funding-to-drive-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\/18\/supply-chain-tech-startup-qara-secures-usd-2-6-mn-in-funding-to-drive-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=Supply chain tech startup Qara secures USD 2.6 mn in funding to drive expansion&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/18\/supply-chain-tech-startup-qara-secures-usd-2-6-mn-in-funding-to-drive-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\/18\/supply-chain-tech-startup-qara-secures-usd-2-6-mn-in-funding-to-drive-expansion\/&title=Supply chain tech startup Qara secures USD 2.6 mn in funding to drive 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=Supply+chain+tech+startup+Qara+secures+USD+2.6+mn+in+funding+to+drive+expansion+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F18%2Fsupply-chain-tech-startup-qara-secures-usd-2-6-mn-in-funding-to-drive-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\/18\/supply-chain-tech-startup-qara-secures-usd-2-6-mn-in-funding-to-drive-expansion\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1725.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655384\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/18\/supply-chain-tech-startup-qara-secures-usd-2-6-mn-in-funding-to-drive-expansion\/1725-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1725.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1725.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1725.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1725.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655383\" class=\"content-area-description single-story post-655383 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam tag-startup-watch tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.b83c2d41-7711-4801-bf3f-c3f1c48887e7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Qara fuels Saudi expansion plans with funding round: <\/strong>Supply chain tech startup <a target=\"_blank\" href=\"https:\/\/qara.net\/\" style=\"\" rel=\"noopener\">Qara<\/a> has successfully closed a USD 2.6 mn funding round led by strategic investors, the company said in&nbsp;<a href=\"https:\/\/ent.news\/2024\/11\/1727.pdf\" target=\"_blank\" rel=\"noopener\">a press release&nbsp;(pdf)<\/a>. EnterpriseAM spoke to CEO and co-founder Hassan Abouzeed to learn more about the startup and what it plans to do with the fresh funds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Qara?<\/strong> The startup has developed a platform that enables manufacturers to verify product authenticity, streamline supply chain operations, and make data-driven decisions. Its flagship app, Asly, allows users to scan unique QR codes to verify the authenticity of products, combat counterfeiting, and access warranties and detailed product information. Qara has authenticated over 28 mn product units across Egypt, Saudi Arabia, and Kenya, connecting manufacturers with over 50k business users. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All roads lead to Riyadh: <\/strong>As part of the startup's expansion plans \u2014 which the funding round will help support \u2014 the first step is to further expand in Saudi Arabia, Abouzeed told EnterpriseAM. Qara has been in the kingdom for the last six months and has active clients there after it was one of 15 global companies selected for relocation incentives from the Saudi National Technology Development Program\u2019s (NTDP) Relocate Initiative, but it\u2019s looking to expand its footprint in the country further because \u201cwe can grow and totally disrupt the market in Saudi Arabia,\u201d Abouzeed added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Qara has its eyes on the rest of the region and beyond once it makes its mark on the <\/strong><strong>kingdom: <\/strong>\u201cThe obsession right now is success in KSA \u2014 hands down,\u201d but the priority after this is the UAE, the entire region, and then Europe and Africa, Abouzeed told us. The company\u2019s SaaS model makes the product scalable across different geographies without having to be there in person, Abouzeed explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The startup is also looking to develop its platform into a more scalable product: <\/strong>The startup will further develop its platform so \u2018it is a scalable model that would enable us to expand into other countries \u2014 like we did last year in Kenya and Saudi Arabia,\u201d Abouzeed told us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We should be hearing from Qara about another funding round soon: <\/strong>Qara plans to launch a new funding round in spring 2025 to further its product development and fuel international growth, Abouzeed announced to us.<\/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\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655385\" 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=\"655385\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/18\/valu-closes-egp-667-mn-securitized-bond-issuance\/\">\r\n                            Valu closes EGP 667 mn securitized bond issuance                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/18\/valu-closes-egp-667-mn-securitized-bond-issuance\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Backed by a receivables portfolio, the issuance came in two tranches with tenors of six and 12 months with ratings of Prime 1 and Prime 2.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Issuance 2.0: <\/strong>The issuance is the second under a new EGP 16 bn securitization program that <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e25e2321-b340-4dfe-ba57-f75e92873d06\/%253cmark%253evalu%253c%2Fmark%253e-closes-first-egp-1.1-bn-securitized-bond-issuance-under-new-egp-16-bn-program\" style=\"\" rel=\"noopener\">kicked off in August<\/a> with a EGP 1.1 bn issuance. This is Valu\u2019s 12th securitized bond issuance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who bought in? <\/strong>EFG Hermes and First Abu Dhabi Bank Misr were underwriters and Bank ABC and Attijariwafa Bank Egypt were among those who subscribed to the issuance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>EFG Hermes was the sole financial advisor, transaction manager, bookrunner, and arranger. The Arab African International Bank (AAIB) was the custodian bank, while Dreny &amp; Partners was legal advisor and Baker Tilly was auditor. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>D<\/strong><strong>ATA POINT<\/strong><strong>: <\/strong>This issuance brings the total value of securitized bonds issued in Egypt this year to EGP 28.4 bn \u2014 53.8% less than the amount raised in the same period last year \u2014 according to data tracked by EnterpriseAM. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/valu\/\">ValU<\/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=\"655387 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=\"655387\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/18\/655387\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655387\" class=\"content-area-description single-story post-655387 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.eg\/insights\/the-journey-to-a-sustainable-future\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1492.jpg?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=\"655388\" 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=\"655388\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">A MESSAGE FROM HSBC<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/18\/navigating-egypts-trade-transformation-a-glimpse-into-the-future\/\">\r\n                            Navigating Egypt\u2019s trade transformation: A glimpse into the future                        <\/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\/18\/navigating-egypts-trade-transformation-a-glimpse-into-the-future\/\" 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\/18\/navigating-egypts-trade-transformation-a-glimpse-into-the-future\/')\">\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\/18\/navigating-egypts-trade-transformation-a-glimpse-into-the-future\/\">\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=Navigating Egypt\u2019s trade transformation: A glimpse into the future&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/18\/navigating-egypts-trade-transformation-a-glimpse-into-the-future\/\">\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\/18\/navigating-egypts-trade-transformation-a-glimpse-into-the-future\/&title=Navigating Egypt\u2019s trade transformation: A glimpse into the future\">\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=Navigating+Egypt%E2%80%99s+trade+transformation%3A+A+glimpse+into+the+future+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F18%2Fnavigating-egypts-trade-transformation-a-glimpse-into-the-future%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\/18\/navigating-egypts-trade-transformation-a-glimpse-into-the-future\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/337.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655389\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/18\/navigating-egypts-trade-transformation-a-glimpse-into-the-future\/337-jpg-25\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/337.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"337.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/337.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/337.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655388\" class=\"content-area-description single-story post-655388 post type-post status-publish format-standard has-post-thumbnail hentry category-a-message-from-hsbc tag-a-message-from-hsbc tag-enterpriseam tag-hsbc wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.2a5c6cb6-852a-4c10-9c68-4bd91512fbdc.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt s<\/strong><strong>tands at a critical juncture and may reshape its role on the global stage as the <\/strong><strong>world<\/strong><strong> of trade undergoes a seismic transformation.<\/strong> Five emerging trends\u2014service trade growth, supply chain shifts and sustainability, trade digitisation, business-to-business platforms, and embedded finance\u2014are reshaping trade globally, and Egypt\u2019s ability to embrace them will dictate its future in the trade world.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>First, the shift toward services and digitally delivered trade has been remarkable.<\/strong> Post COVID, we\u2019ve seen an upswing in demand for digital services, and Egypt, with its commitment to digitizing key sectors, is well-positioned to seize this opportunity. The rise in service trade allows Egyptian firms to expand their reach internationally by overcoming traditional, physical limitations, and geographical borders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But perhaps the most pressing transformation is in supply chains.<\/strong> No longer fixated solely on cost, companies worldwide are prioritizing flexibility, resilience, and transparency in their supply chain choices. The pandemic was a wake-up call \u2014 global trade needs diversification to mitigate risk. Egypt, with its prime location and well-established business ecosystem, is ripe for a new role as a regional hub, providing alternative supply sources for businesses seeking to diversify from Asia. However, this potential hinges on investments in infrastructure to facilitate local sourcing. Notably, sustainability and ESG compliance are increasingly crucial for global investors, making it essential for Egypt to align with these standards to attract international business.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our conversations with clients reveal two key areas: enhancing exports and promoting local production.<\/strong> Increased exports reduce foreign currency dependency, stabilizing Egypt\u2019s economic landscape. Localizing supply chains \u2014 though an investment-heavy, medium- to long-term approach \u2014 can shield the nation from future disruptions, making local industries more resilient.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Digitisation remains a challenge, as it requires overhauls in legal frameworks, data sharing, and collaboration among stakeholders.<\/strong> Egypt has made strides through initiatives like Nafeza, the single-window customs portal, which has helped streamline documentation. At HSBC, while that's happening and as we recognise that's going to take time, the goal now is to make our own operations and the way we serve our clients more digital. One of the ways we are responding to this challenge is by rolling out HSBC Trade Solutions (HTS), a comprehensive platform that is a holistic transformation of how we process transactions and interact with clients. By year\u2019s end, 95% of our trade transactions in Egypt will be digital, outpacing global averages. This is no small feat, but rather a testament to the adaptability and forward-thinking mindset of Egyptian businesses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Finally, data validation is transforming business-to-business platforms<\/strong>, as digital platforms continue to evolve. Embedded finance solutions, which offer businesses financing directly through digital platforms, have already taken hold in other regions, and similar solutions will soon reach Egypt. This progress hinges on reliable data quality and trust between buyers and sellers \u2014 a challenge we\u2019re addressing by partnering with global platforms to expand financing options.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>These trends will significantly shape how we see and conduct trade in the future <\/strong>and Egypt is well-placed to play a significant role in that future.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rehab Tammam, Head of Global Trade Solutions at HSBC Egypt<\/strong><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/a-message-from-hsbc\/\">A MESSAGE FROM HSBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hsbc\/\">HSBC<\/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=\"655390\" 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=\"655390\">\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\/18\/egypt-kuwait-holding-contact-financial-idh-gb-corp-juhayna-and-tmg-report-3q-earnings\/\">\r\n                            Contact Financial, Egypt Kuwait Holding, IDH, GB Corp, Juhayna, and TMG report 3Q earnings                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/18\/egypt-kuwait-holding-contact-financial-idh-gb-corp-juhayna-and-tmg-report-3q-earnings\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/18\/egypt-kuwait-holding-contact-financial-idh-gb-corp-juhayna-and-tmg-report-3q-earnings\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/4.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655391\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/18\/egypt-kuwait-holding-contact-financial-idh-gb-corp-juhayna-and-tmg-report-3q-earnings\/4-jpg-46\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/4.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"4.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/4.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/4.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655390\" class=\"content-area-description single-story post-655390 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-contact-financial tag-earnings tag-earnings-watch tag-egypt-kuwait-holding tag-enterpriseam tag-gb-corp tag-integrated-diagnostics-holding tag-juhayna tag-talaat-moustafa-group 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\/.81e38be5-a2e5-4960-91c3-7ed3c231ca8c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A whole lotta earnings: <\/strong>The 3Q earnings season is still in motion \u2014 we have earnings from Egypt Kuwait Holding, Contact Financial, IDH, GB Corp, Talaat Moustafa Group, and Juhayna. <\/p>\n<p class=\"tag-border-left\">CONTACT FINANCIAL SEES INCOME RISE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Contact Financial\u2019s bottomline inches higher:<\/strong> Non-banking financial services firm Contact Financial\u2019s normalized net income jumped 66% y-o-y to record EGP 261 mn during the third quarter of the year, according to its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1545.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the jump: <\/strong>The firm recorded growth across the board during the three-month period, with net income from its financing division seeing a 72% y-o-y increase to record EGP 204 mn thanks to higher lending volumes. This came despite dips across the division\u2019s two largest segments, auto and consumer finance, which dragged new financing down 13% y-o-y to EGP 3.6 bn during the quarter. Net income from its ins. division was up 12% y-o-y to record EGP 23 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bigger picture: <\/strong>Contact saw its normalized net income shrink 12% y-o-y to record EGP 477 mn throughout the first nine months of the year thanks to a 23% y-o-y dip in net income from its financing division. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More expansion ahead? <\/strong>The third quarter of 2024 saw the company step into the GCC market, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/13c8fe0f-1cbd-43e6-8c83-262051a5b263\/palm-hills-to-embark-on-usd-300-mn-project-to-set-up-15-saudi-schools.-plus:%253cmark%253e-contact-financial%253c%2Fmark%253e,-brotinni,-isis-organic,-efg-hermes,-ayadi,-vacsera\" style=\"\" rel=\"noopener\">setting up a branch in Dubai<\/a> to cater to Egyptian expats there. \u201cWith our inaugural Dubai branch marking the group\u2019s initial foray into the GCC market, over the coming period we will continue exploring opportunities to expand further into the GCC region and beyond,\u201d management said. <\/p>\n<p class=\"tag-border-left\">GB CORP REPORTS 3Q EARNINGS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GB Corp\u2019s net income saw a 12.6% y-o-y increase during 3Q 2024 <\/strong>to EGP 746 mn, according to the company\u2019s most recent <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1578.pdf\" style=\"\" rel=\"noopener\">earnings report (pdf)<\/a>. Revenues rose 85.0% y-o-y to EGP 16.2 bn during the same quarter. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong> GB Corp\u2019s GB Auto recorded revenues increasing 88.1% y-o-y to EGP 14.4 bn during the quarter \u201cdriven by enhanced pricing strategies and an improved product mix.\u201d The group\u2019s NBFS arm GB Capital saw its revenues \u2014 before intercompany eliminations \u2014 rise 69.8% y-o-y to record EGP 2.0 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 9M basis:<\/strong> Net income rose 41.2% y-o-y to EGP 1.8 bn in 9M 2024 and revenues grew 81.4% y-o-y to EGP 35.4 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>\u201cWe are confident in our capacity to navigate challenges and capitalize on emerging opportunities from the ongoing economic reforms and improving market conditions to achieve sustainable long-term growth and create value for our shareholders,\u201d said CEO Nader Ghabbour.<\/p>\n<p class=\"tag-border-left\">EKH\u2019S BOTTOM LINE DOWN IN 3Q- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our friends at Egypt Kuwait Holding (EKH) saw its attributable net income fell 5% y-o-y <\/strong>during 3Q 2024 to record USD 34.1 mn, according to its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1535.pdf\" style=\"\" rel=\"noopener\">earnings release (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1535.pdf\" style=\"\" rel=\"noopener\">pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1535.pdf\" style=\"\" rel=\"noopener\">)<\/a>. Revenues saw a 24% y-o-y decrease, coming in at USD 154 mn for the same quarter, on the back of weaker global urea prices and the float of the EGP. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 9M basis:<\/strong> EKH saw its attributable net income decrease by 9% y-o-y to record USD 124 mn during the first nine months of 2024. Revenues came in at USD 475 mn for the period, marking a 19% y-o-y decrease. The company\u2019s fertilizer and petrochemicals segment accounted for some 54% of the group\u2019s revenues. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>\u201cAs we approach year-end, the outlook for EKH remains promising. We are well-positioned to capitalize on recent expansions, particularly as we anticipate local price recovery to further materialize and take hold. Our focus remains on maximizing bottom-line performance and enhancing operational efficiencies across our diversified portfolio,\u201d CEO Jon Rokk said. <\/p>\n<p class=\"tag-border-left\">IDH REPORTS A 38% JUMP IN INCOME-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IDH sees a 38% increase in income: <\/strong>Regional diagnostic services provider Integrated Diagnostics Holdings\u2019 (IDH) net income jumped 38% y-o-y to EGP 244 mn in 3Q 2024, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1544.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Revenues for the period grew 36% y-o-y to EGP 1.6 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It was an eventful quarter for IDH: <\/strong>During 3Q 2024, the company completed its delisting from the EGX. \u201cWhile our listing on the EGX has helped us increase our local visibility in the market where we generate the majority of our business, we are excited to build on the original path we started on the LSE,\u201d CEO Hend El Sherbini said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 9M basis:<\/strong> Net income saw a 87% y-o-y increase to record EGP 724 mn in 9M 2024, \u201cboosted by the substantial increase in foreign exchange gain from intercompany transactions.\u201d Revenues increased 34% y-o-y to record EGP 4.1 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt drove the growth<\/strong>, contributing 82.1% of the company\u2019s total revenues recorded during 9M 2024. The company recorded EGP 3.4 bn in revenues from its Egypt operations during the nine-month period, marking a 35% y-o-y increase. This was driven by an increase in tests performed and an increase in prices that pushed up the average revenue per test. Jordan operations came in second, contributing 16.1% of total revenues, followed by Nigeria, Saudi Arabia, and Sudan. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TMG REPORTS 236% SURGE IN NET INCOME- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TMG sees net income rise 236% in 9M 2024:<\/strong> Real estate giant Talaat Moustafa Holding Group (TMG) reported a net income of EGP 9.1 bn in 9M 2024, up 236% y-o-y from EGP 2.7 bn, according to the company\u2019s latest earnings statements <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1559.pdf\" style=\"\" rel=\"noopener\">here (pdf)<\/a> and <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1569.pdf\" style=\"\" rel=\"noopener\">here (pdf)<\/a>. Revenues for the period also rose 52% y-o-y to EGP 28 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the growth were TMG\u2019s Saudi and North Coast expansions: <\/strong>TMG two major projects launched this year \u2014 the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1863d30d-e2c5-4721-8879-3f85b05ac31b\" style=\"\" rel=\"noopener\">Benan sustainable city project<\/a> in Saudi Arabia and the North Coast\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1144c640-5c72-4cdd-b07e-6fe55b09b734\/record-sales-for-tmg%25e2%2580%2599s%253cmark%253e-southmed%253c%2Fmark%253e-jump-to-egp-200-bn-in-six-days\" style=\"\" rel=\"noopener\">SouthMed<\/a> \u2014 saw TMG rake in over EGP 53 bn in sales for Banan and over EGP 280 bn for SouthMed. Total sales for the first nine months of the year reached EGP 454 bn, a nearly 340% y-o-y increase over the EGP 93 bn in sales generated last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TMG\u2019s hospitality operations also helped push the top and bottomline up: <\/strong>The company also added 2.5k rooms to its total stock during the period, with hospitality sector revenues increasing 190% y-o-y to EGP 7.8 bn in 9M 2024. The increase in keys also helped drive higher recurring income revenue, which increased 2.4x in 9M 2024 from the same period last year and contributed 43% of total consolidated revenue in the nine-month period. TMG also noted in its press release that the company had paid off its USD 217 mn in hotel sector FX debt during the nine month period, eliminating significant FX risk.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">JUHAYNA\u2019S INCOME SOARS IN 3Q-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Juhayna sees income, revenues jump in 3Q:<\/strong> Dairy giant Juhayna saw its net income jump 197% y-o-y to EGP 958 mn during 3Q 2024, according the company\u2019s latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1565.pdf\" style=\"\" rel=\"noopener\">earnings<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1565.pdf\" style=\"\" rel=\"noopener\">release (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1565.pdf\" style=\"\" rel=\"noopener\">pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1565.pdf\" style=\"\" rel=\"noopener\">)<\/a>. Revenues increased by 57% y-o-y to reach some EGP 6.9 bn during the quarter, \u201cdriven by the continued success of both the concentrates segment and the export of finished products.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In 9M 2024:<\/strong> The company reported a 177% y-o-y increase in net income during the first nine months of the year to record EGP 2.4 bn. Revenues during the same period came in at EGP 18.3 bn, up 64% y-o-y. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the growth:<\/strong> \u201cThe company experienced a significant surge in export revenues across concentrates, dairy, fermented and juice categories,\u201d seeing a 308% y-o-y increase in 3Q to reach EGP 1.1 bn and a 223% jump in 9M 2024 to record EGP 3.0 bn. Juhayna hiked its prices during the quarter, helping offset rising operational costs.<\/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\/contact-financial\/\">Contact Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-kuwait-holding\/\">Egypt Kuwait Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-corp\/\">GB Corp<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/integrated-diagnostics-holding\/\">Integrated Diagnostics Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/juhayna\/\">Juhayna<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/talaat-moustafa-group\/\">Talaat Moustafa Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"655394\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/18\/al-safy-to-invest-usd-80-mn-to-develop-its-television-smartphone-production-lines-plus-exeed-mineral-resources-authority-raya-holding-helios-ict-misr-orange-egypt\/\">\r\n                            Al Safy to invest USD 80 mn to develop its television, smartphone production lines. PLUS: Exeed, Mineral Resources Authority, Raya Holding + Helios, ICT Misr, Orange 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\/18\/al-safy-to-invest-usd-80-mn-to-develop-its-television-smartphone-production-lines-plus-exeed-mineral-resources-authority-raya-holding-helios-ict-misr-orange-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2024\/11\/18\/al-safy-to-invest-usd-80-mn-to-develop-its-television-smartphone-production-lines-plus-exeed-mineral-resources-authority-raya-holding-helios-ict-misr-orange-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2024\/11\/18\/al-safy-to-invest-usd-80-mn-to-develop-its-television-smartphone-production-lines-plus-exeed-mineral-resources-authority-raya-holding-helios-ict-misr-orange-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Al Safy to invest USD 80 mn to develop its television, smartphone production lines. 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The firm plans to expand the factory\u2019s product range to include smartwatches, routers, advanced cameras, and speakers moving forwards, the statement reads.<\/p><p class=\"tag-border-left\">AUTOMOTIVE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Chinese automaker Exeed kicks off local assembly: <\/strong>Premium SUV-focussed Chery subsidy Exeed has officially launched local assembly at the Egyptian German Automotive Company\u2019s facilities, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02zDUyFB2HX2zKjkmZUNmCdzgkge4Dd9KbjTCuJBr6odSJ8qfAWXkYRvWoCuBiK5Kol\" style=\"\" rel=\"noopener\">statement<\/a> from the Industry Ministry. The factory has an annual capacity of 3k Exeed vehicles, alongside 1.2k Mercedes that are also assembled at the plant.<\/p><p class=\"tag-border-left\">AGRICULTURE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cotton industry calls for EGP 4 bn in government support:<\/strong> Egyptian cotton exporters and private companies are calling for EGP 4 bn in government subsidies to help farmers market their crops at a competitive price point, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/11\/17\/%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D8%A7%D9%84%D8%AE%D8%A7%D8%B5%D8%A9-%D8%AA%D8%B7%D8%A7%D9%84%D8%A8-%D8%A7%D9%84%D8%AD%D9%83%D9%88%D9%85%D8%A9-%D8%A8%D8%AF%D8%B9%D9%85-%D8%A7%D9%84%D9%82%D8%B7%D9%86-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A-%D9%84%D8%AD%D9%84-%D8%A3%D8%B2%D9%85%D8%A9-%D8%AA%D8%B3%D9%88%D9%8A%D9%82%D9%87\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reports, citing a letter sent to finance and investment ministries from a professional body representing cotton exporters. A rise in ins. costs and dip in export prices has led to 325 companies shutting their doors this season as they were losing EGP 2k per quintal.<\/p><p class=\"tag-border-left\">MINING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mineral Resources Authority could soon see a shakeup:<\/strong> The House Industry Committee has given its initial approval for a draft law that aims to regulate the Egyptian Mineral Resources Authority (EMRA) and turn it into an economic body, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d8%b5%d9%86%d8%a7%d8%b9%d8%a9-%d8%a7%d9%84%d9%86%d9%88%d8%a7%d8%a8-%d8%aa%d9%88%d8%a7%d9%81%d9%82-%d8%b9%d9%84%d9%8a-%d9%85%d8%b4%d8%b1%d9%88%d8%b9-%d9%82%d8%a7%d9%86%d9%88%d9%86-%d9%84\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports. The decision would help the authority in \u201cutilizing untapped mineral resources, maximizing the authority's revenues, and supporting and localizing the Egyptian industry,\u201d MP Mohamed El Sallab said, according to the outlet. <\/p><p class=\"tag-border-left\">M&amp;A- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Raya Holding taps advisors for Helios acquisition: <\/strong>Raya Holding has tapped Attijariwafa Bank as its financial advisor and Baker McKenzie as its legal counsel for the transaction that will see Africa-focussed and London-based PE outfit Helios Investment Partners acquire 49% of subsidiary Raya Foods, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%b1%d8%a7%d9%8a%d8%a9-%d8%a7%d9%84%d9%82%d8%a7%d8%a8%d8%b6%d8%a9-%d8%aa%d9%8f%d8%b9%d9%8a%d9%86-%d8%a7%d9%84%d8%aa%d8%ac%d8%a7%d8%b1%d9%89-%d9%88%d9%81%d8%a7-%d9%85%d8%b3%d8%aa%d8%b4\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports citing informed sources. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Raya Holding <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7dbf7945-1620-41da-aab8-a5de87fa2f87\/raya-foods%e2%80%99-mystery-suitor-is-helios-investment-partners\" style=\"\" rel=\"noopener\">approved and initially accepted<\/a> Helios\u2019 USD 40 mn bid last month. At the time, Raya's board also appointed FACT as the independent financial advisor to assess the fair value of Raya Foods\u2019 shares.<\/p><p class=\"tag-border-left\">DEBT- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The National Authority for Tunnels secured a EGP 4.5 bn syndicated loan <\/strong>from Abu Dhabi Commercial Bank Egypt (ADCB) and Arab Bank to develop metro and railway lines, its light rail transit, monorail, and electric train projects, ADCB said in a <a target=\"_blank\" href=\"https:\/\/www.adcb.com.eg\/abu-dhabi-commercial-bank-in-partnership-with-arab-bank-grants-the-national-authority-for-tunnels-egp-4-5-billions-syndicated-loan\/\" style=\"\" rel=\"noopener\">statement<\/a>. ADCB contributed EGP 3 bn to the loan, while Arab Bank contributed the remaining EGP 1.5 bn. <\/p><p class=\"tag-border-left\">EXPANSION-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICT Misr to expand in Saudi Arabia:<\/strong> Tech consulting firm <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/ictmisr\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">ICT Misr<\/a> is planning to expand its business to Saudi Arabia in 1Q 2025, with a particular focus on the kingdom\u2019s cybersecurity sector, <a target=\"_blank\" href=\"https:\/\/hapijournal.com\/2024\/11\/17\/%d8%b1%d8%a6%d9%8a%d8%b3-%d9%85%d8%ac%d9%84%d8%b3-%d8%a7%d9%84%d8%a5%d8%af%d8%a7%d8%b1%d8%a9-ict-misr-%d8%aa%d8%b4%d9%87%d8%af-%d8%a3%d9%88%d9%84%d9%89-%d8%aa%d9%88%d8%b3%d8%b9%d8%a7%d8%aa%d9%87\/\" style=\"\" rel=\"noopener\">Hapi Journal<\/a> reports, citing CEO Mohamed El Mofty. The Saudi debut is part of the company\u2019s wider plans to expand in several Gulf markets and within Egypt.<\/p><p class=\"tag-border-left\">TELECOMS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Orange Egypt pencils in early 2025 for 5G launch:<\/strong> Orange Egypt\u2019 5G services are set to go online at the beginning of next year after, Orange Egypt Deputy CEO Hisham Mehrem told <a target=\"_blank\" href=\"https:\/\/www.cnbcarabia.com\/130713\/2024\/17\/11\/%D9%86%D8%A7%D8%A6%D8%A8-%D8%A7%D9%84%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D8%AA%D9%86%D9%81%D9%8A%D8%B0%D9%8A-%D9%84%D8%B4%D8%B1%D9%83%D8%A9-Orange-%D9%85%D8%B5%D8%B1-%D9%84%D9%80-CNBC-%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9:-%D9%88%D9%82%D8%B9%D9%86%D8%A7-%D8%B1%D8%AE%D8%B5%D8%A9-%D8%A7%D9%84%D8%AC%D9%8A%D9%84-%D8%A7%D9%84%D8%AE%D8%A7%D9%85%D8%B3-%D9%88%D8%B3%D9%8A%D8%AF%D8%AE%D9%84-%D9%81%D9%8A-%D9%86%D8%B7%D8%A7%D9%82-%D8%A7%D9%84%D8%AE%D8%AF%D9%85%D8%A9-%D9%85%D9%86%D8%B0-%D8%A8%D8%AF%D8%A7%D9%8A%D8%A9-%D8%B9%D8%A7%D9%85-2025\" style=\"\" rel=\"noopener\">CNBC Arabia<\/a>. The company plans to spend some EGP 10 bn next year to upgrade its networks to accommodate 5G services, he added. <\/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\/5g\/\">5G<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-safy-group\/\">Al Safy Group<\/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         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href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mining\/\">mining<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orange-egypt\/\">Orange Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya-holding\/\">Raya Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecoms\/\">TELECOMS<\/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=\"655396\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"655396\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/18\/asia-and-the-middle-east-lead-a-global-capital-shift\/\">\r\n           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data-image-meta=\"[]\" data-image-title=\"1606.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1606.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1606.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655396\" class=\"content-area-description single-story post-655396 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-asia tag-enterpriseam tag-financial-markets tag-middle-east 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\/.8f465426-22ca-4ea9-aff0-0c9a6779cb90.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Asia and the Middle East are emerging as pivotal hubs in the global flow of capital,<\/strong> according to HSBC\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1581.pdf\" style=\"\" rel=\"noopener\">New Networks of Capital report (pdf)<\/a>. Financial assets in Asia Pacific \u2014 excluding Japan \u2014 are projected to grow at an annual rate of 8% from 2023 to 2028. Assets in the Middle East and Africa are expected to expand even faster, at 9% annually. HSBC\u2019s new report takes a deep dive into how Asia and the Middle East are emerging as key centers of international capital flows \u2014 and the opportunity that their new position offers.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The report highlights six trends deepening financial ties between the two regions<\/strong>, including a growing proportion of investment allocated to projects within the two regions, significant efforts to liberalize capital markets, higher weightings in global stock indices, the emergence of regional asset managers as regional wealth pools grow, more dynamic private markets in both regions, and a greater number of cross-border transactions in local currencies. These shifts have the potential to see FDI flows between the two regions exceed some USD 270 bn over the next ten years \u2014 nearly double the amount of flows recorded in the previous decade, according to the report.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The GCC states are anchoring the transformation:<\/strong> Asian companies are increasingly participating in engineering, procurement, and construction investments in the GCC states, with the combined investment positions of China and India in Saudi Arabia, the UAE, and Qatar rising 145% between 2018 and 2022 to USD 26.6 bn. The Gulf\u2019s sovereign wealth funds are in turn ramping up strategic investments in Asia, targeting sectors including advanced technologies to support their economic diversification plans. Meanwhile, Asian investors \u201cregularly account for more than 20% of allocations on major international debt sales from the Gulf,\u201d the report reads, a percentage that has remained steady despite a strong growth in volumes since 2016. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>These shifts are opening up new opportunities for corporations and investors.<\/strong> Enhanced financial infrastructure between the two regions is fostering deeper liquidity and opening new investment channels for cross-border financial flows. Stronger investment links should also facilitate access to capital through strategic partnerships and equity investments, with recent M&amp;A activity between the two regions an encouraging sign. Finally, the Gulf\u2019s massive boom in infrastructure projects offers Asian investors and contractors a slew of new business opportunities, with Dubai ranking number one in global greenfield FDI projects attraction for the third year in a row.<\/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 a mixed bag in early trading this morning<\/strong>, with Korea\u2019s Kospi leading the pack in the green at 2.2%, followed by Hong Kong\u2019s Hang Seng at 0.7% and the mainland\u2019s Shanghai at 0.6%. Japan\u2019s Nikkei is starting the day in the red at -0.7%<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-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\">31,252<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +25.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 49.31<\/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 49.45<\/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 49.32<\/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 49.42<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,812<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: -1.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,443<\/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: -1.4%)<\/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>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\">4,740<\/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: +16.8%)<\/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\">5,871<\/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\">-1.3% (YTD: +23.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,064<\/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: +4.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,795<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: +6.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 71.04<\/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\">-2.01%<\/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 2.82<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.4%<\/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 2,570<\/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-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>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 88,913.90<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.3% (YTD: +110.7%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 0.7% at yesterday\u2019s close<\/strong> on turnover of EGP 2.8 bn (33.9% below the 90-day average). Egyptian investors were net buyers. The index is up 25.5% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Juhayna (+3.4%), Faisal Islamic Bank -EGP (+2.0%), and GB Corp (+1.8%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Telecom Egypt (-2.6%), Edita (-2.4%), and Emaar Misr (-2.4%).<\/p><p class=\"tag-border-left\">CORPORATE ACTIONS- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Raya Holding\u2019s board approved capital increases of EGP 1 bn and EGP 150 mn to its <\/strong><strong>fintech arm Aman Holding and Raya Electronics, respectively<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1586.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1586.pdf\" style=\"\" rel=\"noopener\">pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1586.pdf\" style=\"\" rel=\"noopener\">)<\/a>. The company also approved purchase of treasury shares of up to 5 mn shares, with an option to use part of the shares to fund the Raya\u2019s incentive and reward system. <\/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\/asia\/\">Asia<\/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\/middle-east\/\">Middle East<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"655398\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">9<\/div>\r\n\r\n                        <p class=\"f-graphik\">BLACKBOARD<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/a-deep-dive-into-state-efforts-to-increase-tech-awareness\/\">\r\n                            A deep dive into state efforts to increase tech awareness<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/a-deep-dive-into-state-efforts-to-increase-tech-awareness\/\" target=\"_blank\">\n        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size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"655399\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/a-deep-dive-into-state-efforts-to-increase-tech-awareness\/2215-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2215.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2215.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2215.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2215.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-655398\" class=\"content-area-description post-655398 blackboard type-blackboard status-publish has-post-thumbnail hentry category-blackboard tag-blackboard tag-cit-ministry tag-education tag-enterprise-blackboard tag-enterpriseam wpautop entry\">\n\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\"> <strong>A<\/strong><strong> look at gov\u2019t efforts to rai<\/strong><strong>se tech awareness among students:<\/strong> The Madbouly government has launched a number of initiatives to teach IT skills at schools and universities as part of its efforts to ensure local education institutions end up graduating students that meet labor market needs and elevate students\u2019 tech savviness. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The initiatives were launched in cooperation with local and international firms<\/strong> and the government is already planning to expand on them, onboarding more companies that can provide specialized content for Egyptian students \u2014 all with the aim of strengthening their abilities and helping them compete in the labor market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM spoke with W<\/strong><strong>alid Al Engba<\/strong><strong>wy<\/strong>, the executive director of the CIT Ministry\u2019s <a target=\"_blank\" href=\"https:\/\/mcit.gov.eg\/en\/Human_Capacity\/MCIT\/Digital_Egypt_Cubs_Initiative\" style=\"\" rel=\"noopener\">Digital Egypt Cubs Initiative<\/a> (DECI), to learn more about the government\u2019s efforts in this regard. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How it started:<\/strong> The DECI was launched for the academic year 2022\/23, Al Engbawy told us. It came about following the launch of the <a target=\"_blank\" href=\"https:\/\/mcit.gov.eg\/en\/Human_Capacity\/MCIT\/Digital_Egypt_Builders_Initiative\" style=\"\" rel=\"noopener\">Digital Egypt Builders<\/a> initiative which aims to help Egypt\u2019s youth develop their technical capacities through partnerships with global firms and top universities. The program\u2019s success pushed the CIT Ministry to shift its attention to school students as it looked to reach a younger demographic. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There was huge demand:<\/strong> The initiative initially targeted 3k students in grade levels between 7-11, but saw over 45k students across the grade levels from all over the country enroll. The applicants were interviewed and only 8k were selected to take part in the initiative. The ministry was surprised by the demand, Al Engbawy said, which led to the launch of a new cohort in February 2023 \u2014 one that included 4k students. The success rate was well above 90% for these two batches, with over 11k students passing their tests.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More than just education: <\/strong>The initiative aims to help students develop their personal skills alongside teaching them about all things technology. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Going younger: <\/strong>The success of the DECI led to the government launching a new initiative that targets younger students \u2014 starting from 4th grade and dubbed the <a target=\"_blank\" href=\"https:\/\/mcit.gov.eg\/en\/Human_Capacity\/MCIT\/Digital_Egypt_Marvels_Initiative\" style=\"\" rel=\"noopener\">Digital Egypt Marvels Initiative<\/a> \u2014 in which students receive 16 virtual sessions and an applied session each semester. A number of companies have already been contracted to set up the curriculum, which was reviewed by an academic committee of university professors to ensure that it matches the targeted age group. The initiative has already brought in 14k applications, 10k of which have been accepted.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In harmony with school studies:<\/strong> The initiative\u2019s study schedules and educational content were designed to be compatible with students\u2019 school schedules, Al Engbawy said. The government also launched the initiative\u2019s three-month summer program, which attracted some 35k applications upon its launch earlier this year. Some 20k students were accepted and completed the program last summer with a success rate of 75%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egyptian students are highly passionate about programming<\/strong>, Al Engbawy said, adding that since the summer program launched, another 100k students applied to the DEMI program, and half of them have been accepted to join the initiative.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The faces behind the programs: <\/strong>The companies helping bring the programs to life include edtech platforms Almentor and iSchool and online courses provider Udacity and the CIT Ministry is in negotiations with another three companies that have submitted offers to participate in the initiatives. The government is reviewing the firms\u2019 education content, their technical support teams, trainers, and the number of centers they have, with the review set to be completed by June of next year, after which firms could begin providing their services starting in October 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Currently underway: <\/strong>At the moment there are 40k students enrolled in the DEMI and another 46k enrolled in the DECI, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The initiative is fully funded by the state <\/strong>with strong support from President Abdel Fattah El Sisi, Al Engbawy said, adding that students receive the educational content and their training without cost and that efforts are in progress to ensure that the services stay that way. The DECI initially received a budget of USD 25 mn over five years \u2014 however, as the FX crisis grew, all companies are now paid in EGP, including American firm Udacity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Digital Egypt initiative now covers all generations<\/strong>, Al Engbawy said, adding that the initiatives include the Buds, Cubs, Pioneers, and Builders initiatives. This enables Egypt to seize a fair share of the outsourcing and freelancing market, which is witnessing great competition from India, Malaysia, and the Philippines, he added. The Pioneers initiative targets graduates, providing them with training for employment and working with tech.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next:<\/strong> Following the ongoing five-year training period for the initiatives across the age groups, there are currently talks with the Education Ministry over turning this training content into a structured and accessible curriculum, Al Engbawy said, adding that this would represent a breakthrough in digital and technological learning for students.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Promoting inclusion in education: <\/strong>The Education Ministry and British Council have <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/05de06d7-c056-4645-86e6-cceb7c1ce879\/aton-resources-to-launch-gold-extracting-and-processing-facility-in-2026.-plus:-bp-to-drill-two-new-wells,-sabbour-consulting-expands-to-ksa,-british-council-promotes-inclusion\" style=\"\" rel=\"noopener\">launched a new<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/05de06d7-c056-4645-86e6-cceb7c1ce879\/aton-resources-to-launch-gold-extracting-and-processing-facility-in-2026.-plus:-bp-to-drill-two-new-wells,-sabbour-consulting-expands-to-ksa,-british-council-promotes-inclusion\" style=\"\" rel=\"noopener\">initiative<\/a> in collaboration with UNICEF to support the further integration of students with special educational needs into Egyptian schools. <\/li>\n<li><strong>Palm Hills to set up 15 schools in KSA: <\/strong>Palm Hills Developments and Saudi investment group Dallah Albaraka subsidiary Dallah Real Estate <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8c01f42-0550-4daf-bcbe-f24cb75f179a\/palm-hills-to-set-up-schools,-urban-projects-in-ksa-under-agreement-with-saudi-dallah-real-estate\" style=\"\" rel=\"noopener\">made official their plans<\/a> to develop integrated, multi-use urban projects and 15 international schools in the kingdom.<\/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\/blackboard\/\">Blackboard<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cit-ministry\/\">CIT ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"655400\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/18\/655400\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655400\" class=\"content-area-description single-story post-655400 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>17-19 November (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.autotechegypt.com\/en\/home.html\" style=\"\">Autotech Exhibition for Automotive Aftermarket & Feeder Industries<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25-27 November (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/cit-fei.org\/conference-annual-nation-digital\" style=\"\">Annual Digital Nation Conference<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypt-energy.com\/en\/home.html\" style=\"\">Egypt Energy Show<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28-30 November (Thursday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.woodshowglobal.com\/cairo\" style=\"\">Cairo International Wood and Wood Machinery Show<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29 November (Friday): Egypt and Italy to launch a ro-ro shipping line connecting Damietta Port with Italy\u2019s Port of Trieste.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 November (Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/almalnews.com\/premium\/%d9%85%d8%b1%d9%81%d9%82-%d8%a7%d9%84%d9%83%d9%87%d8%b1%d8%a8%d8%a7%d8%a1-%d9%85%d8%af-%d9%81%d8%aa%d8%b1%d8%a9-%d8%aa%d9%84%d9%82%d9%89-%d8%b7%d9%84%d8%a8%d8%a7%d8%aa-%d8%a7%d9%84%d9%85\/\" style=\"\">Deadline<\/a><\/span><span> to apply for renewable energy projects under the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5fe8f4bb-3a22-40ac-a502-6f18fb3420db\/\" style=\"\">peer-to-peer (P2P) system<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16-17 December (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/miningconferences.org\/?gad_source=1&gclid=Cj0KCQjwpvK4BhDUARIsADHt9sTVcsDWTGxkNysGtI5XPnT0MFyamDuIerIl2V-j7l3upmN0pJDOSNoaAjLGEALw_wcB\" style=\"\">Mining World Conference 2024<\/a><\/span><span style=\"font-weight:400;\">, London, UK.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2H 2024: Gov\u2019t to launch the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8f7fd9b9-a159-4b31-b974-f809d55f55d9\/egyptian-telecom-providers-suspend-e-wallet-fx-payments\" style=\"\">Cairo Ring Road BRT buses<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3Q 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid04Z7JWbGbYGqFTr8kF2XNgc5Dq2cUR3hn25JDryhDjLnPJkYgaKaqbwzQr6A4QgB2l\" style=\"\">Egyptian-Armenian Joint Committee.<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>First week of November: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02ssjPZtZgtyuDjtqu6kXr1MpWTPFUnnFbPA8etz9LtXPrcjGgGnArn6sg1ryr4jEXl\" style=\"\">Egypt-Turkey high-level trade consultation mechanism.<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>November 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LLPJRjsu6SZLwtRHuLmCQxoAZB3xaXVXH8aYkMSEH3ae4aW6JCZaPe5h5u9nKmcRl\" style=\"\">Egypt to host<\/a><\/span><span style=\"font-weight:400;\"> the World Urban Forum (WUF12).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2024: The launch of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sis.gov.eg\/Story\/192175\/Trial-Operation-of-the-Sokhna-El-Alamein-Matrouh-High-Speed-Train-Starts-by-the-End-of-this-Year?lang=en-us\" style=\"\">high-speed train<\/a><\/span><span style=\"font-weight:400;\"> line linking Ain Sokhna with Al Alamein City.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">28 January (Tuesday): Nigeria to inaugurate the USD 5 bn Africa Energy Bank in Abuja. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7-10 April 2025 (Monday-Thursday) : <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.efghldg.com\/en\/conferences\" style=\"\">EFG Hermes One on One<\/a><\/span><span style=\"font-weight:400;\"> conference, Dubai, UAE. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">May 2025: Egyptian Exporters Association (Expolink) exhibition, Italy.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">July 2025: The first operational trail of Egypt-KSA electricity interconnection line.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">March 2025: Operation of phase one of the Amotope wind farm <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2025: The InterAcademy Partnership assembly.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2025: Nile Basin States Summit, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2Q 2025: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad18b775-3e22-4e6b-b4fc-9dd30f4b85ad\/abu-dhabi-ports-to-build-and-run%253cmark%253e-safaga-terminal%253c%2Fmark%253e,-cruise-ship-infrastructure\" style=\"\">Safaga Terminal 2<\/a><\/span><span style=\"font-weight:400;\"> to start operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Mid-2025: The Administrative Capital for Urban Developments to roll out the second phase of offering industrial plots to investors. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20 January-7 February: Egypt to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f9a5a94-cc1c-4fc1-b8c6-7c02d15cae3b\/ramadan-kareem\" style=\"\">host the African Games<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2027: Trial operations at the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52aa0e65-5b6f-4c84-aa49-70ac4152bb87\" style=\"\">Dabaa nuclear power plant<\/a><\/span><span style=\"font-weight:400;\"> expected to take place.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Supermarket sweep | All roads lead to Riyadh | Privatization targets | Made-in-Egypt smartphones<\/p>\n","protected":false},"featured_media":655377,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-655376","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"0d6c8dba-621a-4fa5-a791-d56357e5db03","teaser":"Supermarket sweep | All roads lead to Riyadh | Privatization targets | Made-in-Egypt smartphones","photo_url":"https:\/\/ent.news\/2024\/11\/1620.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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