{"id":655541,"date":"2024-11-20T00:00:00","date_gmt":"2024-11-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=655541"},"modified":"2025-12-18T01:28:01","modified_gmt":"2025-12-18T01:28:01","slug":"united-bank-sets-ipo-plans-in-motion-with-private-placement-starting-today","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/united-bank-sets-ipo-plans-in-motion-with-private-placement-starting-today\/","title":{"rendered":"United Bank sets IPO plans in motion with private placement starting today"},"content":{"rendered":"<section id=\"655543\" 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=\"655543\">\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\/20\/ifc-eyes-mining-collaboration-with-the-state\/\">\r\n                            IFC eyes mining collaboration with the state                        <\/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\/20\/ifc-eyes-mining-collaboration-with-the-state\/\" 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\/20\/ifc-eyes-mining-collaboration-with-the-state\/')\">\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\/20\/ifc-eyes-mining-collaboration-with-the-state\/\">\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=IFC eyes mining collaboration with the state&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/20\/ifc-eyes-mining-collaboration-with-the-state\/\">\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\/20\/ifc-eyes-mining-collaboration-with-the-state\/&title=IFC eyes mining collaboration with the state\">\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=IFC+eyes+mining+collaboration+with+the+state+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F20%2Fifc-eyes-mining-collaboration-with-the-state%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\/20\/ifc-eyes-mining-collaboration-with-the-state\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2628.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655544\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/20\/ifc-eyes-mining-collaboration-with-the-state\/2628-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2628.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2628.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2628.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2628.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655543\" class=\"content-area-description single-story post-655543 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-international-finance-corporation tag-mining tag-what-were-tracking-today 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\/.a61fd8fe-5c0c-4524-bc06-427f151bee8c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, everyone<\/strong><strong>. <\/strong>IPOs have become a bit of a rarity for us over in Egypt, so it\u2019s not often that we get to kick off an issue with news that the EGX will soon be welcoming a new addition. We\u2019ve got the latest on United Bank\u2019s private placement set to kick off this morning and much more in the issue today. As with the last few issues, it\u2019s another busy news day, so let\u2019s jump right in. <\/p>\n<p class=\"tag-border-left\">PSA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s another cool day in Cairo today<\/strong>, with a high of 25\u00b0C and a low of 17\u00b0C, according to our favorite weather app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s a chance of thunder and rain up in Alexandria<\/strong>, with a high of 23\u00b0C and a low of 15\u00b0C.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p class=\"tag-border-left\">HAPPENING TOMORROW- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>It\u2019s nearly Interest rate decision time for the CBE: <\/strong>The Central Bank of Egypt\u2019s Monetary Policy Committee will meet tomorrow to review interest rates. The committee has left rates <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/18eb5b40-7fc3-480b-affa-8517cd400d91\/round-two-of-the-national-artificial-intelligence-strategy-incoming\" style=\"\" rel=\"noopener\">unchanged<\/a> for four consecutive meetings this year, since the committee delivered a 600 bps rate hike following a surprise monetary policy meeting in March in conjunction with the float of the EGP and a larger loan package from the IMF being approved soon after.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The polls are in: <\/strong>The MPC is expected to leave interest rates unchanged amid persisting inflationary pressures and continuing geopolitical tensions in the region, as unanimously forecasted in our <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/85761119-225a-46c1-a919-4c39f830103d\/analysts-unanimously-forecast-that-the-central-bank-of-egypt-will-keep-interest-rates-unchanged-when-it-meets-on-thursday\" style=\"\" rel=\"noopener\">interest rate poll<\/a> of nine analysts and economists.<\/p>\n<p class=\"tag-border-left\">DATA POINT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>Gas production increased by 200 mn cubic feet per day and crude oil by 39k barrels<\/strong><strong> per day between July and October<\/strong>, which Oil Minister Karim Badawi pointed to as proof that the ministry\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0d8c3d2-6639-4dae-b08d-7d2ab5afab41\/a-round-up-of-the%253cmark%253e-egypt-energy%253c%2Fmark%253e-show-so-far\" style=\"\" rel=\"noopener\">s<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0d8c3d2-6639-4dae-b08d-7d2ab5afab41\/a-round-up-of-the%253cmark%253e-egypt-energy%253c%2Fmark%253e-show-so-far\" style=\"\" rel=\"noopener\">trategy to up production<\/a> is achieving results, according to a ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0eqVcKmq61eu5yJrzrrB3dmBPMpfzodR5w8RKKQH28fXVmfN5bmKQ7h5rgw4aXasHl\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>IFC wants to collaborate on mining materials it thinks will aid local manufacturing: <\/strong>Mining is one of the key targets that International Financial Cooperation wants to work with the government on and is \u201cexploring ways to leverage these natural resources to boost local manufacturing,\u201d according to a <a target=\"_blank\" href=\"https:\/\/moic.gov.eg\/news\/1825\" style=\"\" rel=\"noopener\">statement<\/a> from the Planning and International Cooperation Ministry. The financial institution\u2019s global industry director for energy, metals and mining, and sustainable infrastructure advisory, Valerie Levkov, namechecked zinc, phosphate, gold, and fertilizers as sectors that the IFC is studying.<\/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\">CIRCLE YOUR CALENDAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Latvian tech innovations under the spotlight: <\/strong>The Latvian Embassy is hosting a networking and seminar event inviting companies and professionals in the ICT sector to explore Excellence in Latvian Tech on Wednesday, 27 November at Downtown\u2019s Consoleya. The event will see Latvian tech players showcase their latest tech innovations and bring together industry leaders for workshops and discussions on the 5G ecosystem, sustainable transport solutions, and ICT innovation. You can check out the agenda <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1909.pdf\" style=\"\" rel=\"noopener\">here (pdf)<\/a> and register for the event <a target=\"_blank\" href=\"https:\/\/consoleya.com\/upcoming-events\/embassy-of-latvias-networking-seminar-event\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>After securing approval from US President Joe Biden earlier this week, Ukraine hit <\/strong><strong>Russia with long-range US missiles<\/strong>, striking an ammunition storage facility without causing any casualties. Moscow views the move as an \u201cescalation\u201d from the West, particularly as Ukraine would be unable to launch the missiles without the US providing \u201cdirect operational support.\u201d The attack comes on the 1,000th day of the war. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-19\/putin-approves-expanded-nuclear-weapons-use-in-warning-to-west\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/ukraine-marking-1000-days-russian-invasion-eyes-end-war-next-year-2024-11-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/europe\/ukraine-uses-u-s-provided-missiles-in-russia-for-first-time-b624794a\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/3f4654ec-4dbd-45d1-9d51-869993c717d0\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile in Rio, the G20 issued a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1864.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a><\/strong><strong> with what\u2019s being described as weak<\/strong><strong> language<\/strong>, further throwing a wrench in stalled negotiations at COP29. The shortcoming is made all the more concerning as world leaders are in \u201cdisarray\u201d before Donald Trump \u2014 who is expected to bring yet more chaos and uncertainty \u2014 enters office, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-19\/chaos-in-rio-shows-a-world-untethered-even-before-trump-returns\" style=\"\" rel=\"noopener\">Bloomberg<\/a> says. The <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/83521417-f56e-4b65-965f-1072b912c30a\" style=\"\" rel=\"noopener\">Financial Times<\/a> also has the story.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Tennis legend Rafael Nadal stepped off the court for the last time in his 23-year<\/strong><strong> career<\/strong> to retire at age 38. The \u201cking of clay\u201d lost his last singles match 4-6, 4-6 against the Netherlands\u2019 Botic Van De Zandschulp at the Davis Cup yesterday. (<a target=\"_blank\" href=\"https:\/\/www.si.com\/onsi\/serve\/news\/watch-rafael-nadal-full-12-minute-farewell-address-to-tennis-fans\" style=\"\" rel=\"noopener\">Sports Illustrated<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/athletic\/5932976\/2024\/11\/19\/rafael-nadal-davis-cup-spain\/\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/11\/19\/sport\/rafael-nadal-farewell-to-the-king-of-clay-spt-intl\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.vogue.com\/article\/nadal-final-match\" style=\"\" rel=\"noopener\">Vogue<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sports\/tennis\/nadal-beaten-davis-cup-farewell-by-netherlands-van-de-zandschulp-2024-11-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2503.jpg?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We take a look at Oil Minister Karim Badawi\u2019s roadmap to making Egypt a regional gas hub after sector setbacks.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-finance-corporation\/\">International Finance Corporation<\/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\/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=\"655545 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=\"655545\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/20\/655545\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655545\" class=\"content-area-description single-story post-655545 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1544.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Somabay<\/span><span style=\"\">, every reason to fall in love.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655546\" 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=\"655546\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/20\/united-bank-sets-ipo-plans-in-motion-with-private-placement-starting-today\/\">\r\n                            Egypt\u2019s United Bank sets IPO plans in motion with private placement starting today                        <\/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\/20\/united-bank-sets-ipo-plans-in-motion-with-private-placement-starting-today\/\" 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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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655547\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/20\/united-bank-sets-ipo-plans-in-motion-with-private-placement-starting-today\/2499-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2499.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2499.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2499.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2499.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655546\" class=\"content-area-description single-story post-655546 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-enterpriseam tag-ipo-watch tag-privatization-watch tag-united-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.b7e6b3c5-f3d4-4a7e-bc41-55db721b3c36.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Attention, institutional investors: <\/strong>United Bank will kick off its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2ac297e0-bf51-431c-a4ca-1efc1b948037\/united-bank-eyes-raising-up-to-egp-5.1-bn-in-upcoming-ipo\" style=\"\" rel=\"noopener\">planned offering<\/a> on the EGX today, with the bank offering shares for up to EGP 15.60 a pop in a private placement, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1854.jpg\" style=\"\" rel=\"noopener\">stateme<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1854.jpg\" style=\"\" rel=\"noopener\">nt<\/a> from the bourse. The total offering could see the bank raise up to EGP 5.1 bn by <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8d79ff05-21fa-44eb-9911-9f2eeb114ae7\/\" style=\"\" rel=\"noopener\">floating 330 mn of its shares<\/a> \u2014 equivalent to a 30% stake.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> The bank had set an indicative price range of EGP 12.70-15.60 per share, while the independent financial advisor put the share\u2019s fair value at EGP 15.73.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown: <\/strong>Starting today, institutional investors will be able to buy 313.5 mn shares \u2014 95% of those on offer \u2014 until 25 November. The remaining 16.5 mn share trance for retail investors will be up for grabs between 27 November and 3 December.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bank has been in the government\u2019s privatization crosshairs since at least 2017:<\/strong> The CBE \u2014 which owns 99.9% of the bank \u2014 first announced its plan to sell the bank in 2017, but the Covid pandemic put the plans on ice. United Bank was also listed in the lineup of state companies and assets earmarked for privatization in the rebooted privatization program unveiled in February 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This will mark the second IPO of the year<\/strong>, after Act Financial <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4d5c99b6-2d0a-4923-9bbc-6dc4ef74f1cc\/the-retail-tranche-of-act-financial%25e2%2580%2599s-ipo-was-54.8x-oversubscribed\" style=\"\" rel=\"noopener\">offered a 32% stake on EGX<\/a> in July and became the first company to conduct a full IPO in the Egyptian bourse since 2022.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> CI Capital will act as sole global coordinator and bookrunner for the offering, while Helmy, Hamza &amp; Partners \u2014 Baker McKenzie\u2019s Cairo office \u2014 has been appointed as counsel. Baker Tilly is independent financial advisor and Ernst &amp; Young (EY) is auditor.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/united-bank\/\">United Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    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        \n<article id=\"post-655549\" class=\"content-area-description single-story post-655549 post type-post status-publish format-standard has-post-thumbnail hentry category-agreements-and-mous-totalling-eur-67-7-bn-inked-at-egypt-eu-investment-conference tag-ali-taqi tag-banking tag-coffee-with 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\/.5b1a7ee2-4fbf-4fa1-9e0e-d0c2f09c057e.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Seven and a bit month<\/strong><strong>s into the float of the EGP, you could be forgiven for sometimes <\/strong><strong>thinking there are more Egyptian companies looking at offshore investments than there are foreign investors looking at Egypt. <\/strong>To get some color on what\u2019s fact and what\u2019s fiction (or at least, to borrow from Mark Twain, \u201cgreatly exaggerated\u201d), we sat down with Ali Taqi, managing director and head of commercial banking at HSBC Egypt. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why take Ali\u2019s pulse? He\u2019s been with HSBC for more than 13 years and has served in the <\/strong>UAE, New York, Jordan, and Egypt. HSBC is a key conduit into the country for foreign investors \u2014 and works with businesses here that are looking to grow beyond our borders. Edited excerpts from our conversation:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM: How have trade corridors changed since you moved to Egypt <\/strong><strong>two-and-a-half years ago?<\/strong> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ali Taqi:<\/strong> Egypt was a place I wanted to come to because it\u2019s a strategic market for us and it has all the right things going for it. Trade is a fundamental piece of our business \u2014 we exist to facilitate trade. So trade corridors, trends, and evolution really matter to us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Read the press or listen to the analysts, and they\u2019re saying the same thing: We\u2019re currently moving towards deglobalization. But that\u2019s not what we\u2019re seeing, and not what our customers are telling us. They\u2019re actually seeing more globalization, they\u2019re seeing more integrated supply chains. Yes, there have been some disruptions here and there, but the reality is that our business volumes \u2014 our trade volumes \u2014 indicate that trade corridors are growing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">MENA is a growth business for HSBC, and that growth is underpinned by the level of trade and investments into and out of the region. Egypt is a key market for us regionally \u2014 it has all the right fundamentals, it\u2019s a growth market for us, and it\u2019s also the heart of world trade from a geographic perspective. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">We see Egypt trading more with China, Asia, Saudi, the UAE, and even Europe. We\u2019ve prioritized Egypt for the implementation of our HSBC global trade solutions \u2014 a whole front-to-back modernization; Egypt has been put up as one of the priority markets for the project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Meanwhile, supply chains are becoming a lot more integrated, and \u2014 as a bank \u2014 we are positioned to support that.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What\u2019s driving trade growth for Egypt? How much of it comes from Egyptian <\/strong><strong>companies looking to expand outward, or Chinese companies looking for a manufacturing base closer to Europe that has a trade agreement? And how much of it is Saudi and the UAE?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AT:<\/strong> It\u2019s very balanced. The number of local companies that come to us that are looking to launch operations or set up shop in Saudi and in the UAE has increased many-fold, and that creates growth in multiple dimensions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">But we\u2019re also bringing customers here. Investors from abroad see Egypt\u2019s long-term fundamentals \u2014 they see the 100 mn people, the skilled labor force, the vast natural resources, the returns on their investments. They\u2019re convinced of the Egypt story. This includes investors and company owners in Asia, southeast Asia in particular.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: So, there\u2019s appetite right now?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AT:<\/strong> We have specific clients that are doing due diligence as we speak. Challenges persist, but facilitating them coming here is our area of excellence. But ultimately, it\u2019s balanced between local firms expanding abroad and foreign companies setting up shop here.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: How important is China in the mix, now versus two and a half years ago? Are we doing <\/strong><strong>enough to attract the Chinese?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AT:<\/strong> China is hugely important, for multiple reasons: The technology, the technical know-how that they bring, and the fact that they\u2019re looking outbound \u2014 all of this makes it an essential market for us. It\u2019s hugely important and you can\u2019t miss out on that, I think, from a commercial standpoint. We already have a China desk here in Egypt. It\u2019s been there for a number of years, and it operates across multiple disciplines. We\u2019ve got it covering markets, trade, and payments. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">I think a lot is being done to attract Chinese investors. GAFI came with us to China on a roadshow to speak with investors. We got very positive feedback about it and we\u2019ve started seeing inbound interest on the back of that.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What are the big questions you\u2019re getting about Egypt from outsiders, whether on the <\/strong><strong>trade or the investment side?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AT:<\/strong> The past two years obviously have been challenging, with the stability of the FX regime being a primary concern for clients who want to make sure that they\u2019re getting the returns that they anticipated. The fact that headline inflation is slowing and things generally appear to be moving in a positive direction has been encouraging for investors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The past 18 months have seen much improved business friendliness, if you look at what GAFI has brought in in terms of simplifications \u2014 all of that has been positive. But investors need to see some stability, healthy volatility in the FX rate, and indicators moving in the right direction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What is the mood among your Egyptian clients right now?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AT:<\/strong> They\u2019re thinking of how to future-proof their businesses against any possible shocks on the macro level. I\u2019d say the mood is: We\u2019re in it, and we\u2019re moving forward. Egyptian businesses are incredibly resilient, and their level of resilience and strategic thinking is quite remarkable. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">But if we\u2019re being realistic, there is also a bit of a \u201cwait and see\u201d approach. Everyone\u2019s hoping and gunning for the best, because they see what international players see. But there\u2019s a measure of caution.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What are some of the mistakes that Egyptian businesses make when they look <\/strong><strong>outward? Are there hallmarks that indicate a certain business knows what it\u2019s doing when looking to expand?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AT:<\/strong> It depends on the sector, but in general, the first key is to see whether they\u2019ve mapped out the competition. Those who do well know exactly who their competitors are, and they know the areas where they could be efficient. They mapped it to a sort of SWOT analysis \u2014 their positives, their negatives. They found a gap and engaged in very meticulous planning of going around that map. They built a very rigorous cost revenue model. Strategically, they weren\u2019t going after crazy growth \u2014 they were going after something that was sustainable. The revenues were there, and they knew they could get it. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">What sets successful businesses apart is that the owner is typically very strategic about the \u201cwhy.\u201d It wasn\u2019t about expanding because Saudi was the new thing \u2014 it was because they wanted to build a sustainable international business. They say: \u201cI feel I have a product, a proposition that is lacking in some markets, and I feel I can bridge that gap\u201d \u2014 that clear vision is key.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Finally, an awareness of human capital is another essential factor. They know exactly who to go for, which general managers \u2014 \u201cHow am I going to hire the best general manager, and what\u2019s going to make me attractive to them? How do I incentivize them?\u201d Those are all important questions to think about, and they\u2019re ones that are often neglected.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Are there sectors where you see Egyptians getting more traction abroad than others? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AT:<\/strong> Egypt has a distinct edge on renewable energy and manufacturing. In terms of renewables, Egypt has an abundance of resources, a committed government strategy, and the human capital to execute renewable energy projects \u2014 that\u2019s all exportable to another country where the government\u2019s strategy is clear. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">On the manufacturing front, we\u2019ve helped a number of clients set up in Saudi Arabia \u2014 they went in with their manufacturing teams, because they know they can replicate their expertise over there, and they\u2019re able to fix a lot of inefficiencies that exist in these sorts of markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: It\u2019s not rocket science to take a piece of a government infrastructure contract in Saudi, <\/strong><strong>but it\u2019s much more difficult to go in there and compete as a private sector actor looking to win private sector business. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AT:<\/strong> What we see from our business is that they compete on both fronts. Obviously the Saudi government does have a big role to play \u2014 they\u2019re investing \u2014 but there have been many joint ventures that brought in Egyptian clients. We\u2019re also seeing some of our smaller players be active in the Saudi market and bidding for private-sector work. It\u2019s hit-and-miss, but it\u2019s like any other market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What is driving business for you at home in a high-interest-rate environment?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AT:<\/strong> A number of things. A key pillar for us is cash management \u2014 we\u2019re seeing a lot of clients implement a much more rigorous approach to their cash management, because they want to self-finance as much as they can. We help them take their cash, help them deploy it in areas they want to shorten payments to suppliers, and we have the best-in-class cash management solutions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">I think the second thing for us is helping clients export. That\u2019s been a huge driver for us. We\u2019re quite competitive in that field, and we want to be the leading bank to support international growth. Finally, helping our client transition is another main driver of our growth. We do that by providing advice, products, propositions, among other things.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What challenges do you have in the portfolio right now? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AT:<\/strong> We\u2019ve been fairly resilient because we\u2019ve backed the right players, the right industries, and our strategy has helped us navigate those areas. We remain very well capitalized, and highly liquid clients recognize this and want to bank with us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The challenges lie in the clients\u2019 ability to be resilient, and that\u2019s tied to the situation on a macro level.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Where do rates have to be before we see the first signs of appetite for borrowing?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AT:<\/strong> The way I see it, policy stability is more important than what the rate happens to be \u2014 whether it\u2019s 20%, 30%, or 15%, I don\u2019t think that is something that borrowers or clients look at. Business owners want stability. They want to know what\u2019s in front of them, and they\u2019ll take care of the rest. To me, it\u2019s just about running a more disciplined business. They look at the situation and they say \u2014 what do we do now? Whether it\u2019s negotiating different types of contracts, using international players, or even focusing on the local market. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What are you seeing in FX market dynamics right now? What are the signals that <\/strong><strong>indicate that we\u2019re on the right <\/strong><strong>track<\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AT:<\/strong> We think it\u2019s on the right path, and I think the policies that were enacted have given a measure of confidence, but it needs a little bit of time to see that this will continue. You have to look at the main trends \u2014 inflation being one of them \u2014 because to us, as a corporate business, those indicators signal whether a client can sell, and that there\u2019s the necessary purchasing power. If FX stability and availability continues in the long run, that would give international investors plenty of confidence. What we\u2019ve seen so far represents a positive signal. That, coupled with Egypt being a fundamentally positive market, just drives a sense of cautious optimism.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: If you would pick three industries that are obvious winners over the next 36 months,<\/strong><strong> what would they be? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AT:<\/strong> Renewable energy is certainly one of those sectors, both in the short and long term. Manufacturing is another \u2014 particularly appliances and white goods. It\u2019s a growing population, there\u2019s plenty of demand, and Egypt\u2019s position pushes this forward. Finally, I would include EVs and mobile phones \u2014 components and assembly, specifically. I\u2019d add the agriculture industry as a fourth winning industry as well. If you look at what Egypt produces, especially with food security being such an important strategic issue globally, I think Egypt has a major role to play.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: SMEs?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AT:<\/strong> SME for us is an important business that we do in Egypt. We see an opportunity to help clients move internationally. The SME business for us is very much centered around what we call the \u201cnew economy.\u201d We launched Afaq, a dedicated proposition for SMEs where we are focusing on supporting trade, technology, and sustainability, as these three sectors are the pillars underpinning the new economy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">We are in a unique position to capitalize on the group\u2019s advanced technology platforms to support this critical part of the economy, bringing truly global solutions to our local SMEs here in Egypt. Egyptian entrepreneurs are at a pole position of innovation and are the drivers for delivering the country\u2019s future economy as it diversifies and connects internationally.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ali-taqi\/\">Ali Taqi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/coffee-with\/\">Coffee With<\/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=\"655551\" 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=\"655551\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/20\/uaes-al-dahra-looks-to-invest-usd-230-mn-to-purchase-up-to-90k-feddans-fund-reclamation\/\">\r\n                            Al Dahra\u2019s Egypt arm looks to invest USD 230 mn to purchase up to 90k feddans, fund reclamation                        <\/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\/20\/uaes-al-dahra-looks-to-invest-usd-230-mn-to-purchase-up-to-90k-feddans-fund-reclamation\/\" 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\/20\/uaes-al-dahra-looks-to-invest-usd-230-mn-to-purchase-up-to-90k-feddans-fund-reclamation\/')\">\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\/20\/uaes-al-dahra-looks-to-invest-usd-230-mn-to-purchase-up-to-90k-feddans-fund-reclamation\/\">\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=UAE\u2019s Al Dahra looks to invest USD 230 mn to purchase up to 90k feddans, fund reclamation&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/20\/uaes-al-dahra-looks-to-invest-usd-230-mn-to-purchase-up-to-90k-feddans-fund-reclamation\/\">\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\/20\/uaes-al-dahra-looks-to-invest-usd-230-mn-to-purchase-up-to-90k-feddans-fund-reclamation\/&title=UAE\u2019s Al Dahra looks to invest USD 230 mn to purchase up to 90k feddans, fund reclamation\">\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=UAE%E2%80%99s+Al+Dahra+looks+to+invest+USD+230+mn+to+purchase+up+to+90k+feddans%2C+fund+reclamation+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F20%2Fuaes-al-dahra-looks-to-invest-usd-230-mn-to-purchase-up-to-90k-feddans-fund-reclamation%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\/20\/uaes-al-dahra-looks-to-invest-usd-230-mn-to-purchase-up-to-90k-feddans-fund-reclamation\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1915.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655552\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/20\/uaes-al-dahra-looks-to-invest-usd-230-mn-to-purchase-up-to-90k-feddans-fund-reclamation\/1915-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1915.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1915.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1915.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1915.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655551\" class=\"content-area-description single-story post-655551 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-agriculture tag-al-dahra tag-commodities tag-enterpriseam tag-food tag-investment-watch tag-wheat 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\/.4b3185ff-75ec-45a2-b5dd-a87b4d37ccab.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Al Dahra to up its Egypt operations:<\/strong> Al Dahra Egypt \u2014 a subsidiary of Emirati agribusiness Al Dahra \u2014 is planning on investing some USD 200 mn to add between 80k-90k feddans to its land portfolio over the next five years, Al Dahra Egypt CEO Raouf Tawfik told EnterpriseAM on the sidelines of a press conference yesterday to showcase the company\u2019s future plans. The company is also looking to invest an additional USD 30 mn on additional equipment, as well as to help its efforts in reclaiming 2k feddans from the land it currently owns, Tawfik added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is less than what we last heard Al Dahra was going after:<\/strong> Al Dahra <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/be2c8677-4906-4ce7-9fcb-f2a046a0de85\/uae%25e2%2580%2599s-al%253cmark%253e-dahra%253c%2Fmark%253e-wants-to-buy-up-more-land-in-toshka\" style=\"\" rel=\"noopener\">had been conducting<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/be2c8677-4906-4ce7-9fcb-f2a046a0de85\/uae%25e2%2580%2599s-al%253cmark%253e-dahra%253c%2Fmark%253e-wants-to-buy-up-more-land-in-toshka\" style=\"\" rel=\"noopener\">negotiations<\/a> to purchase up to 500k feddans of agricultural land in Egypt, according to unconfirmed reports last year. The company \u2014 which is half-owned by the Abu Dhabi sovereign wealth fund ADQ \u2014 was reportedly eyeing land under a direct purchase or a long-term lease agreement in Toshka to grow wheat and corn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company's strategy is built on three main pillars \u2014<\/strong> producing strategic crops, supporting exports, and adopting sustainable agricultural practices to maximize land productivity, Tawfik concluded.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Dahra is no stranger to Egypt:<\/strong> The firm currently owns 67k feddans of land in Toshka, East Owaynat, and El Salheya, and is the biggest private-sector wheat producer in Egypt. It has so far reclaimed some 40k feddans of the land it owns, and has invested around USD 250 mn to reclaim and cultivate this land for producing strategic crops that include wheat, corn, and sugar beets, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1884.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The firm is also the largest local supplier of wheat,<\/strong> having sold around 450k tons of wheat to the government over the past five years, making it GASC\u2019s largest local private-sector supplier. The firm has also produced around 210k tons of corn and 90k tons of sugar beets over the past five years and currently ranks among the top ten private citrus producers in the Egyptian market. The company claims that it has helped cut the country\u2019s import bill by USD 250 mn since Al Dahra set up its arm in Egypt.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-dahra\/\">Al Dahra<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/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=\"655553 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=\"655553\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/20\/655553\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655553\" class=\"content-area-description single-story post-655553 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.aimsinternational.com\/en\/company\/aims-egypt\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1851.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655554\" 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=\"655554\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/20\/house-gives-its-final-approval-to-refugee-bill-following-three-days-of-discussions\/\">\r\n                            Egypt\u2019s House of Representatives House gives its final approval to refugee bill following three days of discussions                        <\/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\/20\/house-gives-its-final-approval-to-refugee-bill-following-three-days-of-discussions\/\" 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\/20\/house-gives-its-final-approval-to-refugee-bill-following-three-days-of-discussions\/')\">\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\/20\/house-gives-its-final-approval-to-refugee-bill-following-three-days-of-discussions\/\">\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=House gives its final approval to refugee bill following three days of discussions&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/20\/house-gives-its-final-approval-to-refugee-bill-following-three-days-of-discussions\/\">\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\/20\/house-gives-its-final-approval-to-refugee-bill-following-three-days-of-discussions\/&title=House gives its final approval to refugee bill following three days of discussions\">\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=House+gives+its+final+approval+to+refugee+bill+following+three+days+of+discussions+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F20%2Fhouse-gives-its-final-approval-to-refugee-bill-following-three-days-of-discussions%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\/20\/house-gives-its-final-approval-to-refugee-bill-following-three-days-of-discussions\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1696.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655555\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/20\/house-gives-its-final-approval-to-refugee-bill-following-three-days-of-discussions\/1696-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1696.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1696.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1696.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1696.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655554\" class=\"content-area-description single-story post-655554 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-enterpriseam tag-house-of-representatives tag-legislation-watch tag-un 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\/.1dd3802e-7047-4afc-9721-e69f3bc2f3ae.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>House gives its final approval to proposed refugee bill:<\/strong> The House of Representatives has voted in favor of a government-drafted bill that aims to establish a legal framework for refugees\u2019 status, rights and obligations, after the law received preliminary approval on Sunday. The law\u2019s executive regulations will be issued in six months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What it entails:<\/strong> The 39-article bill proposes creating a permanent committee for refugee affairs headed by the prime minister to handle all refugee-related matters, including managing data and statistics. The committee will be exclusively responsible for refugee affairs, processing asylum requests, cooperating with the Foreign Affairs Ministry and the UN High Commissioner for Refugees (UNHCR), and ensuring the provision of support, care, and services to refugees and asylum seekers. The law\u2019s executive regulations will specify the committee\u2019s other powers and responsibilities in detail.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The law also recognizes a number of rights for refugees,<\/strong> including obtaining a travel document issued by the Interior Ministry, performing religious rites, owning fixed or movable assets, practicing free professions and employment, receiving appropriate healthcare, and their children being granted basic education, MP Ahmed El Awadi said. The MP added that refugees will not live in isolated places or in camp cities, but they will instead be integrated into Egyptian society \u201cas long as they respect internal laws and social values.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The first of its kind:<\/strong> The new law is the first piece of domestic legislation that regulates the affairs of refugees and asylum seekers in Egypt, El Awadi said following the House\u2019s vote on the bill.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- The House also greenlit a EUR 1.8 mn grant agreement to support people with <\/strong><strong>disabilities<\/strong>, with Italy set to provide EUR 1.65 mn and the Social Solidarity Ministry providing EUR 181k.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/40e95638-fc8d-49f5-97f7-86fecef6cb40\" style=\"\" rel=\"noopener\">newly amended draft Criminal Procedures Law<\/a><\/strong><strong> will be discussed for a third <\/strong><strong>week<\/strong>, before then being put up for a preliminary cote, House Speaker Hanafy Gebaly said<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The House will reconvene on 1 December.<\/strong><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/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=\"655556\" 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=\"655556\">\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\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/20\/fitch-upgrades-four-egyptian-banks-credit-ratings-to-b-on-the-back-of-sovereign-credit-improvements\/\">\r\n                            Fitch upgrades four Egyptian banks\u2019 credit ratings to B on the back of sovereign credit improvements                        <\/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\/20\/fitch-upgrades-four-egyptian-banks-credit-ratings-to-b-on-the-back-of-sovereign-credit-improvements\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The agency upgraded the ratings of the National Bank of Egypt, Banque Misr, CIB, and Banque du Caire to B from B- with a stable outlook, reflecting \u201cthe strong correlation of the banks\u2019 creditworthiness with that of the Egyptian sovereign,\u201d it said in a <a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/research\/banks\/egyptian-banks-credit-profiles-strengthened-on-sovereign-rating-upgrade-18-11-2024\" style=\"\" rel=\"noopener\">statement<\/a>. Fitch also upgraded the local banks\u2019 operating environment and funding and liquidity scores to B with a stable outlook.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the upgrade:<\/strong> Fitch cited improved FX liquidity and a significant jump in net foreign assets \u2014 net foreign asset deficit in commercial banks has been improving since the Ras El Hekma agreement and the reforms that followed were announced to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c0031ef5-827e-479f-808b-01e8c84f0320\/net%253cmark%253e-foreign%253c%2Fmark%253e-asset-surplus-rises-to-usd-10.3-bn-in-september\" style=\"\" rel=\"noopener\">sit at USD 132 mn at the end of September<\/a> from around USD 17.6 bn at the end of January. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The banks\u2019 net foreign asset positions are expected to improve further: <\/strong>\u201cWe expect the banking sector to report a slight net positive foreign assets position in 2025 and 2026, supported by positive net inflows from foreign portfolio investors, a lower current account deficit and international financial institutions financings on the back of a more flexible foreign exchange rate regime,\u201d the credit rating agency said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The move comes just after Fitch upgraded Egypt\u2019s sovereign credit rating:<\/strong> Fitch upgraded <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/42d85537-672f-4b27-b3df-0a70e3232317\/fitch-upgrades-our-credit-rating-to-%e2%80%98b%e2%80%99-citing-greater-confidence-in-structural-reforms\" style=\"\" rel=\"noopener\">Egypt\u2019s sovereign credit rating<\/a> from B- to B with a stable outlook at the start of the month for the first time since 2019 on the back of FX inflows from the USD 35 bn Ras El Hekma agreement, our expanded USD 8 bn IMF program, and the EU\u2019s EUR 7.4 bn aid package, alongside greater confidence in the durability of our structural reforms. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>The agency expects a \u201csharp improvement in profitability in 2024, supported by higher yields on sovereign securities, revaluation gains and stronger client activity before it starts normalizing towards historical averages in 2025 as a result of reducing rates.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-du-caire\/\">Banque du Caire<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fitch-ratings\/\">Fitch Ratings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-bank-of-egypt\/\">National Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655558 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=\"655558\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/20\/655558\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655558\" class=\"content-area-description single-story post-655558 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicContactUs\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2301.jpeg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"655559\" 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=\"655559\">\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\/20\/chinese-automaker-faw-to-return-to-the-market-with-new-local-agent-plus-arab-contractors-orascom-investment-icon-wadi-degla-developments-mg-development-egypt-castings\/\">\r\n                            Chinese automaker FAW to return to the market with new local agent. PLUS: Arab Contractors, Orascom Investment, ICON,  Wadi Degla Developments, MG Development, Egypt Castings                        <\/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\/20\/chinese-automaker-faw-to-return-to-the-market-with-new-local-agent-plus-arab-contractors-orascom-investment-icon-wadi-degla-developments-mg-development-egypt-castings\/\" 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\/20\/chinese-automaker-faw-to-return-to-the-market-with-new-local-agent-plus-arab-contractors-orascom-investment-icon-wadi-degla-developments-mg-development-egypt-castings\/')\">\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\/20\/chinese-automaker-faw-to-return-to-the-market-with-new-local-agent-plus-arab-contractors-orascom-investment-icon-wadi-degla-developments-mg-development-egypt-castings\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Chinese automaker FAW to return to the market with new local agent. PLUS: Arab Contractors, Orascom Investment, ICON,  Wadi Degla Developments, MG Development, Egypt Castings&url=https:\/\/enterpriseam.com\/egypt\/2024\/11\/20\/chinese-automaker-faw-to-return-to-the-market-with-new-local-agent-plus-arab-contractors-orascom-investment-icon-wadi-degla-developments-mg-development-egypt-castings\/\">\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\/20\/chinese-automaker-faw-to-return-to-the-market-with-new-local-agent-plus-arab-contractors-orascom-investment-icon-wadi-degla-developments-mg-development-egypt-castings\/&title=Chinese automaker FAW to return to the market with new local agent. PLUS: Arab Contractors, Orascom Investment, ICON,  Wadi Degla Developments, MG Development, Egypt Castings\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Chinese+automaker+FAW+to+return+to+the+market+with+new+local+agent.+PLUS%3A+Arab+Contractors%2C+Orascom+Investment%2C+ICON%2C++Wadi+Degla+Developments%2C+MG+Development%2C+Egypt+Castings+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F11%2F20%2Fchinese-automaker-faw-to-return-to-the-market-with-new-local-agent-plus-arab-contractors-orascom-investment-icon-wadi-degla-developments-mg-development-egypt-castings%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\/20\/chinese-automaker-faw-to-return-to-the-market-with-new-local-agent-plus-arab-contractors-orascom-investment-icon-wadi-degla-developments-mg-development-egypt-castings\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/610.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655560\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/20\/chinese-automaker-faw-to-return-to-the-market-with-new-local-agent-plus-arab-contractors-orascom-investment-icon-wadi-degla-developments-mg-development-egypt-castings\/610-jpg-27\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/610.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"610.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/610.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/610.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655559\" class=\"content-area-description single-story post-655559 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-antony-blinken tag-arab-contractors tag-automotive tag-construction tag-diplomacy tag-enterpriseam tag-foreign-ministry tag-heliopolis-housing-and-development tag-orascom-investment-holding tag-real-estate tag-uae 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\/.7538ef42-dee0-4f4a-8696-9675a401efb4.mp3\"><\/audio><\/figure>\n<p class=\"tag-border-left\">AUTOMOTIVE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- FAW autos to make their return to Egyptian streets: <\/strong>Chinese state-owned auto manufacturer FAW Group is re-entering the Egyptian market in 1Q 2025 under a partnership with an unnamed new agent, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%81%d8%a7%d9%88-%d8%a7%d9%84%d8%b5%d9%8a%d9%86%d9%8a%d8%a9-%d8%aa%d8%b9%d9%88%d8%af-%d9%84%d8%b3%d9%88%d9%82-%d8%a7%d9%84%d8%b3%d9%8a%d8%a7%d8%b1%d8%a7%d8%aa-%d8%aa%d8%ad%d8%aa-%d9%85\/\" style=\"\" rel=\"noopener\">Al<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%81%d8%a7%d9%88-%d8%a7%d9%84%d8%b5%d9%8a%d9%86%d9%8a%d8%a9-%d8%aa%d8%b9%d9%88%d8%af-%d9%84%d8%b3%d9%88%d9%82-%d8%a7%d9%84%d8%b3%d9%8a%d8%a7%d8%b1%d8%a7%d8%aa-%d8%aa%d8%ad%d8%aa-%d9%85\/\" style=\"\" rel=\"noopener\">Mal<\/a> reports, citing informed sources. Geyushi Motors was Egypt's agent for China's FAW Group up until four years ago when their partnership expired.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Are Chinese automakers Omoda and Jaecoo about to enter the Egyptian market?<\/strong> Chery International subsidiaries Omoda and Jaecoo are in talks to enter the Egyptian market through a partnership with an unnamed local agent, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d8%a3%d9%85%d9%88%d8%af%d8%a7-%d9%88%d8%ac%d8%a7%d9%83%d9%88-%d8%aa%d9%81%d8%a7%d9%88%d8%b6%d8%a7%d9%86-%d8%b1%d8%ac%d9%84-%d8%a3%d8%b9%d9%85%d8%a7%d9%84-%d9%85%d8%b5%d8%b1\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports, citing informed sources. <\/p>\n<p class=\"tag-border-left\">DIPLOMACY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abdelatty, Blinken talk conflict in the region: <\/strong>Foreign Minister Badr Abdelatty met US Secretary of State Antony Blinken on the sidelines of the G20 Summit in Rio de Janeiro for discussions centered around the ongoing wars on Gaza and Lebanon, according to a State Department <a target=\"_blank\" href=\"https:\/\/www.state.gov\/secretary-blinkens-meeting-with-egyptian-foreign-minister-abdelatty-2\/\" style=\"\" rel=\"noopener\">statement<\/a>. The talks saw Blinken highlighting the urgency of releasing hostages and increasing and sustaining the delivery of humanitarian assistance in Gaza and deescalating the conflict in Lebanon. The duo also touched on the importance of establishing a post-conflict period in Gaza that provides governance, security, and reconstruction.<\/p>\n<p class=\"tag-border-left\">CONSTRUCTION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>State-owned construction firm Arab Contractors is setting up three towers in Ca<\/strong><strong>iro with <\/strong><strong>investments of EGP 22 bn<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/11\/19\/1845186\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing unnamed sources. Two of the towers will be set up in Maadi and the third will be set up in Nasr City \u2014 one of the Maadi projects will house residential and hotel units to be offered next March and the Nasr City project will house a wide range of units, residential, administrative, and commercial set to hit the market in January. The construction firm also has plans to set up a fourth project, the sources said without elaborating further. Arab Contractors has contracted <a target=\"_blank\" href=\"https:\/\/www.kelmaagency.com\/\" style=\"\" rel=\"noopener\">Kelma Business Consulting<\/a> to implement the projects.<\/p>\n<p class=\"tag-border-left\">M&amp;A-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Orascom Investment Holding is set to acquire Misr for Entertainment Investments<\/strong> with its non-executive expert directors and independent directors approving the acquisition in principle, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1878.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1878.pdf\" style=\"\" rel=\"noopener\">pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1878.pdf\" style=\"\" rel=\"noopener\">)<\/a>. The company will appoint an independent financial advisor to conduct the fair value study of the company. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- UAE\u2019s AIF Holding no<\/strong><strong>w owns 62.2% of local building materials manufacturer<\/strong> <strong>Industrial Engineering for Construction and Development (ICON) <\/strong>after the completion of a EGP 1.6 bn transaction that saw it snap up 90.52 mn from a number of individual investors at EGP 17.94 a piece, <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4370974\/-AIF-Holding-%D8%AA%D8%B3%D8%AA%D8%AD%D9%88%D8%B0-%D8%B9%D9%84%D9%89-62-2-%D9%85%D9%86-%D8%B1%D8%A3%D8%B3%D9%85%D8%A7%D9%84-%D8%A3%D9%8A%D9%83%D9%88%D9%86-%D8%A8%D9%82%D9%8A%D9%85%D8%A9-1-6-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AC%D9%86%D9%8A%D9%87\/#:~:text=%D9%88%D8%A8%D8%AD%D8%B3%D8%A8%20%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A9%20%D8%A7%D9%84%D9%85%D9%86%D9%81%D8%B0%D8%A9%20%D8%A5%D9%8A%20%D8%A5%D9%81,%D8%A8%D9%85%D8%AA%D9%88%D8%B3%D8%B7%20%D8%B3%D8%B9%D8%B1%2017.94%20%D8%AC%D9%86%D9%8A%D9%87%20%D9%84%D9%84%D8%B3%D9%87%D9%85.\" style=\"\" rel=\"noopener\">Mubasher<\/a> reports. <\/p>\n<p class=\"tag-border-left\">EXPANSION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Wadi Degla to expand into Saudi Arabia:<\/strong> Local real estate developer Wadi Degla Developments inked an MoU with Saudi developer <a target=\"_blank\" href=\"https:\/\/www.miskan.com.sa\/\" style=\"\" rel=\"noopener\">Miskan<\/a> to develop Wadi Degla\u2019s Club Town project in the kingdom, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/miskan-co_we-are-proud-to-announce-the-signing-of-a-activity-7263295823931711488-wJCX\" style=\"\" rel=\"noopener\">statement<\/a>. The project is the first step in Wadi Degla\u2019s regional growth strategy. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- MG Developments expands into Saudi market with new EGP 3 bn company: <\/strong>Local real estate company <a target=\"_blank\" href=\"https:\/\/mg.com.eg\/ar\/\" style=\"\" rel=\"noopener\">MG Developments<\/a> has established an EGP 3 bn company in Saudi Arabia \u2014 in partnership with Egyptian and Saudi investors \u2014 that will develop projects in both countries, company CEO Mohamed Metawee told <a target=\"_blank\" href=\"https:\/\/www.google.com\/url?q=https:\/\/www.alborsaanews.com\/2024\/11\/19\/1845113&amp;sa=D&amp;source=editors&amp;ust=1732039098866109&amp;usg=AOvVaw0sa0pqkCmpohETKV9uxoDf\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The new Saudi-based firm\u2019s first project in the Kingdom is also currently being scouted, with the company currently looking at 50-100 acre plots in Riyadh for another mixed-use development. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>Egypt Casting<\/strong><strong>s to invest EGP 120 mn in Riyadh factory: <\/strong>Egypt Castings will invest EGP 120 mn to establish a castings factory in Riyadh in partnership with a private Saudi company, Egypt Castings head Omar Abdel Aziz told <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1858887963259634069\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The company, which currently holds a 35% share of the castings market in Egypt, expects the factory to begin production in June 2025.<\/p>\n<p class=\"tag-border-left\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- A push to convert vehicles to run on natural gas: <\/strong>The Madbouly government wants to replace 250k gasoline-fired car engines to ones that run on natural gas, Prime Minister Moustafa Madbouly said during a meeting held to follow up on the initiative, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0RDgoKKE5tBS899Rh2DXdMeBFYUD7oS2zdMVgLi3mXhNusBkUBAaKVE8eEbnt8hKEl\" style=\"\" rel=\"noopener\">statement<\/a>. He also pointed out that the government will soon start converting its own fleet of vehicles to run on natural gas. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Egypt to shift LNG imports away from int\u2019l tenders and toward long-term deals:<\/strong> The Egyptian Natural Gas Holding Company (EGAS) is negotiating long-term agreements to import LNG, moving away from reliance on global tenders, an unnamed government source told <a target=\"_blank\" href=\"https:\/\/cnnbusinessarabic.com\/energy\/89203\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%AA%D9%81%D8%A7%D9%88%D8%B6-%D8%B9%D9%84%D9%89-%D8%A5%D8%A8%D8%B1%D8%A7%D9%85-%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D9%8A%D8%A7%D8%AA-%D8%B7%D9%88%D9%8A%D9%84%D8%A9-%D8%A7%D9%84%D8%A3%D8%AC%D9%84-%D9%84%D8%A7%D8%B3%D8%AA%D9%8A%D8%B1%D8%A7%D8%AF-%D8%B4%D8%AD%D9%86%D8%A7%D8%AA-%D8%A7%D9%84%D8%BA%D8%A7%D8%B2-%D8%A7%D9%84%D9%85%D8%B3%D8%A7%D9%84\" style=\"\" rel=\"noopener\">CNN Business Arabic<\/a>. The move aims to secure gas supplies and protect Egypt from fluctuating spot market prices. Tenders will remain in use, but only for limited imports.<\/p>\n<p class=\"tag-border-left\">DEBT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Banking syndicate to provide EGP 2.8 bn for residential project in New Cairo:<\/strong> A Banque Misr-led consortium with EG Bank and the Suez Canal Bank has granted EGP 2.8 bn in joint financing to real estate firm Landmark Developments, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1896.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The funds will partially finance the firm\u2019s planned residential project \u2014 dubbed STEI8HT \u2014 in New Cairo.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/antony-blinken\/\">Antony Blinken<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arab-contractors\/\">Arab Contractors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-ministry\/\">Foreign Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/heliopolis-housing-and-development\/\">Heliopolis Housing and Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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       <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\/20\/us-insider-sales-reach-all-time-highs-as-execs-cash-in-on-post-election-rally\/\">\r\n                            US insider sales reach all time highs as execs cash in on post-election rally                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/20\/us-insider-sales-reach-all-time-highs-as-execs-cash-in-on-post-election-rally\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1904.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"655562\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/20\/us-insider-sales-reach-all-time-highs-as-execs-cash-in-on-post-election-rally\/1904-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1904.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1904.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1904.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1904.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655561\" class=\"content-area-description single-story post-655561 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-donald-trump tag-enterpriseam tag-financial-markets tag-planet-finance tag-us 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\/.14c2b6d6-94fc-4604-82e8-d1f5dcd8142a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Insider sales in the US by executives have hit their highest level for any <\/strong><strong>quarter in the last two decades<\/strong> as record numbers of senior figures in the corporate world unload shares in their companies amid a post-election stock market boom, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/56adeab0-2957-481b-81e4-9a9ac8181c6a\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports, citing data from VerityData.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Senior execs from some of Wall Street\u2019s most recognizable stocks have been getting in <\/strong><strong>on the action<\/strong>, including Tesla Board Director Kathleen Wilson Thompson, who has sold some USD 34.6 mn worth of the EV maker\u2019s stock \u2014 which has increased in value by over 37% since election day, in part due to the CEO\u2019s involvement with the incoming administration. Four insiders at Goldman Sachs have sold more than USD 28 mn in shares since election day, with the firm\u2019s share price rising 12% over the same period on the back of an expected uptick in mergers and slashing of regulation under the approaching Trump presidency. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One of the biggest gainers was ironically a top Harris donor<\/strong>, with the paper detailing how Palantir Technologies co-founder Alex Karp has offloaded some USD 900 mn worth of stocks since 5 November. Karp saw his company\u2019s stock soar as promising financials released the day before the election coincided with the post-election rally, pushing his company\u2019s stock up 48% since then.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The last time insider selling versus buying at US financial institutions was this high<\/strong><strong> was when Donald Trump was first elected president<\/strong>, all the way back in November 2016. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The most recent post-Trump victory surge follows three below-average quarters in terms of insider selling volumes, VerityData Vice President of Research Ben Silverman said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some think that uncertainty, rather than optimism, may be driving some of the sales<\/strong>, say some market observers, including Texas Christian University professor Swami Kalpathy. \u201cThere are going to be some losers (and) some industries could get hurt badly,\u201d from Trump\u2019s proposed tariffs, Kalpathy tells the paper, adding that \u201cWe have had a good run up. But the other story is that maybe the executives are expecting revisions in equity prices.\u201d<\/p><p class=\"tag-border-left\">MARKETS THIS MORNING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are starting out the day mostly in the red during early trading this <\/strong><strong>morning<\/strong>, with Japan\u2019s Nikkei currently down 0.4%, along with Hong Kong\u2019s Hang Seng and the mainland\u2019s Shanghai index both in the red by 0.1%. Meanwhile, Korea\u2019s Kospi is up 0.5%.<\/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\">30,688<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +23.3%)<\/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>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 49.46<\/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 49.60<\/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 49.49<\/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 49.59<\/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\">11,876<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: -0.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,426<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: -1.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,732<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +16.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,917<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +24.1%)<\/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\">8,099<\/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: +4.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,751<\/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: +5.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 73.31<\/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\">+0.01%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.96<\/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-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>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 2,635.70<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 92,326.30<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2% (YTD: +118.0%)<\/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 0.6% at yesterday\u2019s close<\/strong> on turnover of EGP 2.8 bn (33.7% below the 90-day average). Egyptian investors were the sole net sellers. The index is up 23.3% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Edita (+2.6%), Faisal Islamic Bank -EGP (+1.7%), and B Investments Holding (+1.4%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>EFG Holding (-2.2%), E-finance (-2.0%), and Heliopolis Housing (-1.9%).<\/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\/donald-trump\/\">Donald Trump<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"655563\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">9<\/div>\r\n    \r\n                        <p class=\"f-graphik\">HARDHAT<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/oil-minister-karim-badawi-charts-egypts-path-to-becoming-a-gas-hub-after-sector-setbacks\/\"> \r\n                            Oil Minister Karim Badawi charts Egypt\u2019s path to becoming a gas hub after sector setbacks<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/oil-minister-karim-badawi-charts-egypts-path-to-becoming-a-gas-hub-after-sector-setbacks\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Speaking at an AmCham event attended by EnterpriseAM, Oil Minister Karim Badawi outlined a roadmap to stabilize the sector, enhance production, and foster sustainable investments, with a particular emphasis on cross-sectoral collaboration in support of sustainable economic development.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meeting local energy needs remains the top priority:<\/strong> Badawi made clear that securing Egypt\u2019s energy supply is at the forefront of the ministry\u2019s agenda. The government is focusing on \u201cproduction, production, production,\u201d Badawi said, with the state working to ramp up output, optimize existing fields, and accelerate exploration for new reserves. This focus, he noted, is critical not only for stabilizing the local market, but also for reducing reliance on imports and mitigating the economic strain of rising energy demands.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The refining and mining sectors can also be better exploited:<\/strong> The ministry is also looking to capitalize on Egypt\u2019s developed petrochemical and refining infrastructure to generate value-added derivatives and support exports. These efforts aim to bring in much-needed FX to support the economy. Meanwhile, the mining sector \u2014 described by Badawi as a \u201cdark horse\u201d with untapped potential \u2014 is receiving new attention. Contributing just 1% of GDP today, the ministry has its sights set on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6d572f59-2b27-4be1-a417-368f671f8ad3\/here%25e2%2580%2599s-what-you-missed-from-day-one-of-the-egypt%253cmark%253e-mining%253c%2Fmark%253e-forum\" style=\"\" rel=\"noopener\">scaling that figure<\/a> to 5-6% in the coming years by fostering collaboration and revising investment policies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>Egypt is set to launch a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/682ef74b-44d8-4332-8c59-a35e717976dd\/global-firms-are-interested-in-egypt%25e2%2580%2599s-oil%253cmark%253e-sector%253c%2Fmark%253e.-plus:-news-from-bonya,-alex-container,-telecom-egypt\" style=\"\" rel=\"noopener\">global tender<\/a> for gold mining and exploration at approximately 200 sites in the Eastern Desert by the end of the year. A new mining strategy is also on the cards, with Badawi saying last month that the government would unveil the new plan at the Mining World Conference 2024 in London next month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The keys to long-term growth and sustainability: <\/strong>Badawi emphasized the importance of domestic partnerships \u2014 particularly with the Electricity Ministry \u2014 to achieve a more sustainable energy mix. Plans to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9c204253-74bf-4487-ae7d-62ae0cb51bb5\" style=\"\" rel=\"noopener\">increase renewable energy\u2019s share to 42% by 2030<\/a> aim to free up natural gas for exports and industrial uses, bolstering Egypt\u2019s FX reserves. He also underscored that energy efficiency and low-carbon operations are now essential for attracting investment, highlighting the need to balance environmental goals with economic priorities to maintain investor confidence.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Regional partnerships also play a key role in the ministry\u2019s strategy,<\/strong> with a focus on collaboration with neighboring countries like <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a57d81a-6422-4c4b-9776-a62ac5bc6a79\/%253cmark%253ecyprus%253c%2Fmark%253e-is-prepared-to-export-natural-gas-to-europe-via-egypt\" style=\"\" rel=\"noopener\">Cyprus<\/a>. Badawi pointed to these partnerships as critical for unlocking shared resources and achieving mutual energy goals, citing discussions at last month\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/026f12b0-b7c3-4889-9cd7-dfb174e79de5\/imf-keeps-egypt%25e2%2580%2599s-growth-outlook-unchanged\" style=\"\" rel=\"noopener\">Mediterranean Offshore Conference<\/a> in Alexandria as an example of such progress.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Badawi\u2019s view of the oil industry\u2019s last 30 months: <\/strong>In his early weeks as minister, Badawi called for addressing the root causes of Egypt\u2019s energy challenges, which he described as a \u201cperfect storm\u201d of currency fluctuations and volatile global oil prices. These issues led to mounting arrears with international partners, slowed production and exploration, and a 20-25% drop in output, he said. The decline forced Egypt to rely on costly imports to meet growing domestic demand, putting additional pressure on finances. Now, the ministry\u2019s focus is on addressing arrears, stabilizing production, and ensuring the sector supports Egypt\u2019s economic growth in a sustainable way.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT-<\/strong> Egypt has cleared <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee4b1467-0ed1-4911-a578-312de9fb0bd0\/egypt-has-paid-78%2525-of-its-arrears-to-foreign-oil-and-gas-companies-since-marchhttps:\/\/enterprise.news\/egypt\/en\/news\/story\/ee4b1467-0ed1-4911-a578-312de9fb0bd0\/egypt-has-paid-78%2525-of-its-arrears-to-foreign-oil-and-gas-companies-since-march\" style=\"\" rel=\"noopener\">USD 3.5 bn in arrears<\/a> since March.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An end to power cuts will support growth:<\/strong> Ending <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bc540e2b-9caa-4ccd-a33e-d0a659abe617\" style=\"\" rel=\"noopener\">rolling power cuts<\/a> was a tough but crucial move to ensure consistent electricity for homes and businesses and support economic growth, according to Badawi. The decision required <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/da0fab5f-79e9-4d82-b4ca-ed6f42f04eeb\" style=\"\" rel=\"noopener\">ramping up energy imports in 3Q<\/a>, adding strain to the sector, but enabling key stabilization efforts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>To address the financial gap between rising import costs and domestic pricing,<\/strong> Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/45d2052e-4c8d-4dde-b93c-8965df87dd03\/egypt-hikes-car-fuel-prices-by-up-to-15%2525\" style=\"\" rel=\"noopener\">raised fuel prices in July<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/502d7ed8-9571-460b-ad59-c01d2e26ff5c\/our-long-awaited-electricity-rate%253cmark%253e-hikes%253c%2Fmark%253e-are-here,-capping-off-a-busy-summer-of-subsidy-reform\" style=\"\" rel=\"noopener\">electricity tariffs in August<\/a>, followed by a round of increases in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1628a0b2-670d-4b30-a3e1-40458c2025c9\/gov%25e2%2580%2599t-hikes-subsidized-butane-prices-by-up-to-50%2525\" style=\"\" rel=\"noopener\">household natural gas and LPG<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e1e29b9-af1f-412d-9492-354ca6e76353\" style=\"\" rel=\"noopener\">fuel prices<\/a> in September. Badawi acknowledged the challenges, but stressed that these adjustments were crucial for long-term stability and maintaining investor confidence in the energy sector. The hikes aimed to bridge the price gap between imports and domestic consumption, clear the arrears, and jumpstart production and exploration after a 30-month slowdown.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Badawi elaborated on the ministry\u2019s recently announced <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/76e0292b-903e-44ce-a127-021c00848173\/new-energy-incentives-aim-to-boost%253cmark%253e-domestic%253c%2Fmark%253e-production-and-foreign-investment\" style=\"\" rel=\"noopener\">oil and gas incentives<\/a><\/strong><strong>,<\/strong> with the minister stating that partners that exceed the 1 September production baseline would see additional output used to fund arrears and reinvest in operations. Updates to production-sharing agreements now include more flexible cost-recovery terms during the early stages of projects, enhancing their appeal, while supporting the sector\u2019s long-term sustainability. Recognizing that previous agreements often fell short in maximizing returns \u2014 particularly with regard to gas projects \u2014 the ministry signaled its openness to adopting innovative fiscal and operational frameworks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Greater fiscal flexibility is part of the plan:<\/strong> The ministry launched its Oil and Gas Investment Incentive Policy booklet during ADIPEC 2024 outlining a more flexible fiscal regime that includes updated royalties and tax structures to attract investments in the sector and accelerate production. The document remains open for feedback, with the ministry seeking to produce a win-win situation for sector players. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cross-institutional collaboration is also key: <\/strong>\u201cThis is not a one-man show,\u201d Badawi noted, stressing collaboration across the cabinet, regulatory bodies, and industry partners as necessary to stabilize and grow Egypt\u2019s energy sector. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ministry is strengthening partnerships with its 57 upstream operators, both local and <\/strong><strong>international,<\/strong> to lower costs and boost production through initiatives like the Egyptian Natural Gas Holding Company\u2019s (EGAS) invitation of bids for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0cd315b9-f330-4173-8492-6cba27b83e8d\/stellantis-in-talks-with-gov%25e2%2580%2599t-to-start-assembling-fiat,-citroen,-and-opel-models-locally.-plus:-sodic,-cib-%2B-chemicals-&amp;-fertilizers-export-council,-misr-ins.,-eaton,-msmeda\" style=\"\" rel=\"noopener\">12 new oil and gas exploration blocks<\/a> in the Mediterranean and Nile Delta. Efforts to engage nontraditional Egyptian investors have also gained momentum, with a recent session highlighting flexible opportunities that don\u2019t require massive capital to invest, supported by technical partnerships. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where do we stand in terms of production levels?<\/strong> Egypt\u2019s oil and gas production is on the rise, with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4f0ab22-1b09-45e1-840b-ef77e13a8fa1\/drilling-operations-in-zohr-to-resume-in-december\" style=\"\" rel=\"noopener\">Eni resuming operations<\/a> and new wells expected online by December. BP is fast-tracking phase two of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc282ccf-4479-442d-b6ad-1bbf1f31f4b3\/%253cmark%253e%253c%2Fmark%253ehalliburton%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eto%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ebring%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253efour%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ewells%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eonline%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eby%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253edecember%253cmark%253e%253c%2Fmark%253e.%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253eplus%253cmark%253e%253c%2Fmark%253e:%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253enews%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253efrom%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253emedcom%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253easwan%253cmark%253e%253c%2Fmark%253e,%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253efra%253cmark%253e%253c%2Fmark%253e,%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253eq%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253edevelopments%253cmark%253e%253c%2Fmark%253e,#:~:text=Halliburton%20is%20set%20to%20finish%20preparation%20work%20on%20four\" style=\"\" rel=\"noopener\">Raven Field<\/a>, while <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4f0ab22-1b09-45e1-840b-ef77e13a8fa1\/drilling-operations-in-zohr-to-resume-in-december#:~:text=US%20oil%20producer%20Apache%20has%20been%20awarded%20four\" style=\"\" rel=\"noopener\">Apache is boosting both oil and gas output in the Western Desert<\/a>. Companies like Shell, IPR Energy, and Ades Holding are also contributing to increased production through the development of new wells.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Around 77 exploration wells drilled in 10M 2024:<\/strong> Exploration efforts remain strong, Badawi said, with 77 wells drilled by October, resulting in 40 oil and 14 gas discoveries. Seismic studies in the Mediterranean have also resumed, serving as a tool for guiding exploration and identifying untapped opportunities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What does 2025 look like for the energy and mining sectors?<\/strong> The focus will remain squarely on ramping up production levels to offset declines and reduce the energy import bill. Exploration will also take center stage, with efforts to unlock future reserves critical to securing long-term growth. Infrastructure upgrades and efficiency measures will complement these initiatives. Above all, Badawi noted the importance of collaboration and teamwork across government and industry, framing it as essential to realizing Egypt\u2019s energy and mining ambitions. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hardhat\/\">Hardhat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-ministry\/\">Oil Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\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=\"655565\" 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\/20\/655565\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-655565\" class=\"content-area-description single-story post-655565 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 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 style=\"font-weight:400;\">29 November (Friday): Startup Sync, Cairo, Egypt. <\/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>15-17 December (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/nebugoldexpo.com\/\" style=\"\">Nebu Expo for Gold & Jewelry<\/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>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;\">January 2025: CBE to launch InstaPay remittances for Egyptians abroad<\/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;\">1H 2025: Digital Financial Identity Company will launch an electronic bank account opening service<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2025: The InterAcademy Partnership assembly.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2025: Nile Basin States Summit, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2Q 2025: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad18b775-3e22-4e6b-b4fc-9dd30f4b85ad\/abu-dhabi-ports-to-build-and-run%253cmark%253e-safaga-terminal%253c%2Fmark%253e,-cruise-ship-infrastructure\" style=\"\">Safaga Terminal 2<\/a><\/span><span style=\"font-weight:400;\"> to start operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Mid-2025: The Administrative Capital for Urban Developments to roll out the second phase of offering industrial plots to investors. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20 January-7 February: Egypt to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f9a5a94-cc1c-4fc1-b8c6-7c02d15cae3b\/ramadan-kareem\" style=\"\">host the African Games<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End of 2027: Trial operations at the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52aa0e65-5b6f-4c84-aa49-70ac4152bb87\" style=\"\">Dabaa nuclear power plant<\/a><\/span><span style=\"font-weight:400;\"> expected to take place.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Al Dahra to up Egypt ops | House passes refugee bill | Banks get rating upgrades | IFC eyes mining collaboration<\/p>\n","protected":false},"featured_media":655542,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-655541","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"300d0cd0-33ff-4b61-9caa-03d06e2f7bec","teaser":"Al Dahra to up Egypt ops | House passes refugee bill | Banks get rating upgrades | IFC eyes mining collaboration","photo_url":"https:\/\/ent.news\/2024\/8\/400.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>United Bank sets IPO plans in motion with private placement starting today - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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