{"id":656337,"date":"2024-12-03T00:00:00","date_gmt":"2024-12-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=656337"},"modified":"2025-12-18T01:47:03","modified_gmt":"2025-12-18T01:47:03","slug":"al-mashat-lays-out-entrepreneurship-committees-plan-to-up-startup-investments-tenfold","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/al-mashat-lays-out-entrepreneurship-committees-plan-to-up-startup-investments-tenfold\/","title":{"rendered":"Al Mashat lays out entrepreneurship committee\u2019s plan to up startup investments tenfold"},"content":{"rendered":"<section id=\"656339\" 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=\"656339\">\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\/12\/03\/united-banks-retail-tranche-already-23x-oversubscribed-as-offering-enters-last-day\/\">\r\n                            United Bank\u2019s retail tranche already 23x oversubscribed as offering enters last day                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-image-title=\"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-656339\" class=\"content-area-description single-story post-656339 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-united-bank tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.625a5cce-2158-429c-9e46-3a106cc7b790.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends<\/strong>, and a happy hump day to you all. Unlike the weather, local business and economy news is continuing to heat up as we approach the end of the year. We\u2019ve got a packed issue today, so let\u2019s jump right in.<\/p><p class=\"tag-border-left\">PSA-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s another cool and dry day in Cairo today<\/strong>, with a high of 22\u00b0C and a low of 13\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s a chance of light to moderate showers tomorrow in Alexandria<\/strong>, with a high of 23\u00b0C and a low of 11\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p class=\"tag-border-left\">H<strong>APPENING TODAY<\/strong>- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- Today is the last day for retail investors to grab a piece of United Bank<\/strong>, with the retail offering for the Central Bank of Egypt-owned bank set to wrap today, before trading kicks off on the EGX. The tranche is offering 16.5 mn shares \u2014 equivalent to 5% of the total offering \u2014 at 13.85 a pop.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The offering is already 23x oversubscribed as of yesterday<\/strong>, as retail investors jump one of only two IPOs to kick off this year, Amwal Al Ghad reports, citing sources in the know. Act Financial\u2019s EGX <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\">debut in July<\/a> also saw its retail tranche heavily subscribed, covering the subscription 54x.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bank\u2019s private placement also saw heavy interest from institutional investors<\/strong>, with the offering of 313.5 mn shares \u2014 equivalent to 95% of the total offering \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e635dfd-841a-4ae9-be4b-265d0d40de4a\/it%25e2%2580%2599s-day-one-of-egypt-energy\" style=\"\" rel=\"noopener\">being 6x oversubscribed<\/a> by the time the offering came to a close last week<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All together the offering is expected to raise EGP 4.6 bn<\/strong>, with the bank offering a 30% stake in the company through 330 mn shares.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- Will today be<\/strong><strong> the day that Egypt\u2019s non-oil private sector returns to growth territory? <\/strong>S&amp;P Global will publish Egypt\u2019s Purchasing Managers\u2019 Index (PMI) figures for November a little later this morning, measuring the country\u2019s non-oil private sector activity. After <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/32fe05be-c843-4ccd-9e99-d5fb997ce85d\/egypt%E2%80%99s-non-oil-private-sector-activity-grows-after-three-years-in-contraction\" style=\"\" rel=\"noopener\">breaking into growth territory<\/a> in August \u2014 the first time in three years \u2014 the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8d292b8-4c76-436f-a3d1-ae3f718ffa2d\/egypt%25e2%2580%2599s-non-oil-private-sector-activity-continues-to-contract-on-the-back-of-rising-price-pressures\" style=\"\" rel=\"noopener\">sector fell back into the red<\/a> for the following two months.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>October\u2019s reading puts us <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8d292b8-4c76-436f-a3d1-ae3f718ffa2d\/egypt%25e2%2580%2599s-non-oil-private-sector-activity-continues-to-contract-on-the-back-of-rising-price-pressures\" style=\"\" rel=\"noopener\">just under<\/a><\/strong><strong> the growth threshold<\/strong>, edging up to 49.0 and leaving us just below the 50.0 mark that separates growth from contraction. Pressing on the sector in October were rising price pressures \u2014 driven by higher costs of raw materials and utilities \u2014 that dampened new order volumes across the board.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/foodafrica-expo.com\/\" style=\"\" rel=\"noopener\">Food Africa 2024<\/a><\/strong><strong> kicks off today:<\/strong> Africa\u2019s largest food and beverage trade exhibition, Food Africa 2024, opens at the Egypt International Exhibitions Center in Cairo today, hosting over 900 exhibitors from 32 countries. The three-day event will bring together wholesalers, distributors, and retailers in food and beverage industries from countries across the world.<\/p><p class=\"tag-border-left\">WATCH THIS SPACE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#1-<\/strong> <strong>Egyptian electricity exports to Syria via Jordan could be in the cards: <\/strong>Egypt is exploring the possibility of exporting electricity to Syria through its interconnection link with Jordan, Electricity Minister Mahmoud Esmat told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/power\/62436\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%AF%D8%B1%D8%B3-%D8%AA%D8%B5%D8%AF%D9%8A%D8%B1-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D9%84%D8%B3%D9%88%D8%B1%D9%8A%D8%A7-%D8%B9%D8%A8%D8%B1-%D8%A7%D9%84%D8%A3%D8%B1%D8%AF%D9%86\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> on the sidelines of the Arab Ministerial Council for Electricity. Esmat added the caveat that the plan hinges on stabilizing the security situation in the country and did not provide a timeline for when a project <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Esmat didn\u2019t provide a timeline for the project, but we may have to wait a while until we <\/strong><strong>have excess capacity to export. <\/strong>An unconfirmed report citing a government official earlier this week pencilled in either 2029 or 2030 as when the country will finally be able to close the gap between domestic production and consumption.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The days of unlicensed apartment rentals for tourists may soon be over<\/strong>, with the executive regulations for a law on apartments rented to tourists and temporary rentals to be \u201cissued in the coming days,\u201d Tourism Minister Sherif Fathy told the House yesterday, according to <a target=\"_blank\" href=\"https:\/\/www.almasryalyoum.com\/news\/details\/3319879\" style=\"\" rel=\"noopener\">Al Masry Al Youm<\/a>. Licenses will be granted based on the apartments\u2019 cleanliness, security, and safety standards to ensure a better experience for those visiting the country, the minister added.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt has some great short term rentals for tourists \u2014 but some pretty terrible ones too<\/strong><strong> that often masquerade as much nicer than they are<\/strong>, which the minister hopes to help solve with an inventory of licensed properties that can host tourists. The new regulations should also help increase tourism revenues and open new areas for investment, the minister added.<\/p><p class=\"tag-border-left\">FROM THE DEBT MARKETS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>The central bank sold USD 980.5 mn worth of one-year, USD-denominated t-bills <\/strong><strong>yesterday<\/strong>, with an average yield of 4.50% \u2014 down 0.65 percentage points from the last time the same length bills were auctioned off in June, according to <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/auctions\/usd-t-bills\" style=\"\" rel=\"noopener\">data<\/a> from the Central Bank of Egypt.<\/p><p class=\"tag-border-left\">IN THE HOUSE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The House is expected to vote on the cash-based subsidies bill today: <\/strong>The bill, which received preliminary approval on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ba4c4688-610a-48b0-8464-f3517705e51b\/common-arab-electricity-market-incoming%3F\" style=\"\" rel=\"noopener\">Sunday<\/a> and was initially expected to be voted on yesterday, would establish a Takaful and Karama fund to provide cash-based payments to those under the poverty line, funded by the state budget, private contributions, foreign grants and loans, and investments.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MPs are also expected to give preliminary approval today to the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/40e95638-fc8d-49f5-97f7-86fecef6cb40#:~:text=The%20newly%20amended%20Criminal%20Procedures%20Law%20received\" style=\"\" rel=\"noopener\">draft Criminal<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/40e95638-fc8d-49f5-97f7-86fecef6cb40#:~:text=The%20newly%20amended%20Criminal%20Procedures%20Law%20received\" style=\"\" rel=\"noopener\">Procedures law<\/a><\/strong>, now in its third week of discussions.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: MPs yesterday gave the greenlight to a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/df14edc2-b089-4b19-9259-1c4724a140a1\/cabinet-approves-over%253cmark%253e-eur-1-bn%253c%2Fmark%253e-in-eu-funding#:~:text=%231%2D%20EUR%201%20bn%20in%20macro%2Dfinancial%20assistance%3A%20The%20funds\" style=\"\" rel=\"noopener\">EUR 1 bn macro-financial assistance<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/df14edc2-b089-4b19-9259-1c4724a140a1\/cabinet-approves-over%253cmark%253e-eur-1-bn%253c%2Fmark%253e-in-eu-funding#:~:text=%231%2D%20EUR%201%20bn%20in%20macro%2Dfinancial%20assistance%3A%20The%20funds\" style=\"\" rel=\"noopener\">package<\/a><\/strong><strong> from the EU<\/strong>, which marks the first phase of a EUR 5 bn set of concessional loans running through 2027 as part of a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/183954ef-4dc7-49c8-9499-743e77de1e74\/eu-pledges-eur-7.4-bn-aid-package-for-egypt\" style=\"\" rel=\"noopener\">wider EUR 7.4 bn package<\/a> from the EU announced in March. The funds will go towards alleviating external financing constraints, easing the government\u2019s balance of payments and budget needs, and boosting FX reserves against the backdrop of regional geopolitical tensions.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No single story is dominating the headlines across the global press this morning<\/strong>, with attention split between parliamentary turmoil in France, cross-border strikes amid a fragile ceasefire in Lebanon, another high-level corporate resignation, and Musk\u2019s latest run-in with the courts all fighting for attention. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>News outlets are forecasting the \u201call but certain\u201d collapse of the French government led<\/strong><strong> by Prime Minister Michel Barnier by the end of the week<\/strong>, after his move to try to push through an unpopular budget of EUR 60 bn in tax rises and budget cuts led to no-confidence motions being put forward from both the left and right. Barnier is warning of \u201cserious financial turbulence\u201d if both the budget and government falls, and it seems the markets have already got the memo. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/french-far-right-party-likely-back-no-confidence-motion-against-government-2024-12-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/12\/02\/world\/europe\/france-budget-no-confidence-vote.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-02\/far-right-to-back-no-confidence-motion-against-french-government?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cn8g7zp0q79o\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2024\/dec\/02\/what-will-happen-if-france-government-loses-no-confidence-vote-michel-barnier\" style=\"\" rel=\"noopener\">Guardian<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our corner of the world is also continuing to attract the attention of the world\u2019s press<\/strong>, with the rebel advance in Syria and cross border strikes in Lebanon despite the ceasefire pushing their way up the digital front pages. At least nine were killed yesterday in Israel\u2019s heaviest strikes since the ceasefire began last week. (<a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/12\/02\/world\/middleeast\/hezbollah-israel-lebanon.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-02\/hezbollah-fires-toward-israel-as-skirmishes-mar-cease-fire-push?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WHILE IN BUSINESS NEWS\u2013 A Delaware judge has struck down Tesla CEO Elon Musk\u2019s USD <\/strong><strong>56 bn pay package<\/strong> for the second time, rejecting Tesla\u2019s attempt to reinstate it through a shareholder re-vote. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/delaware-judge-rejects-request-restore-elon-musks-56-billion-tesla-compensation-2024-12-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/12\/02\/business\/elon-musk-tesla-pay-ruling.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/9880470f-a3be-4d98-ab36-59604ee9baea\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/autos\/judge-again-rejects-musk-multibillion-dollar-pay-plan-9f98024d?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND-<\/strong> <strong>Another CEO called it quits this week<\/strong>, with Intel\u2019s Pat Gelsinger \u201cabruptly\u201d stepping down amid the chipmaker\u2019s ongoing struggles to regain its footing in a fiercely competitive industry. Gelsinger, who took the helm in 2021, faced mounting pressure as Intel\u2019s ambitious turnaround plans failed to gain traction, with its market value nearly halving this year while rivals like Nvidia surged ahead. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1da33c80-6328-49a7-be8a-e7e1221c43c0\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-02\/intel-ceo-pat-gelsinger-retires-amid-chipmaker-s-turnaround-plan?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/intel-ceo-gelsinger-retires-leaves-board-cb2478e6?mod=hp_lead_pos8\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/12\/02\/technology\/intel-ceo-pat-gelsinger.html\" style=\"\" rel=\"noopener\">New York Times<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/239.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><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 the infrastructural, institutional, and social enablers for establishing a global market for green hydrogen and its derivatives.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a 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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=\"656342\">\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\">Policy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/03\/the-lowdown-on-the-governments-new-entrepreneurship-ministerial-committee\/\">\r\n                            Planning Minister Rania Al Mashat gives us the lowdown on the new Entrepreneurship Ministerial Committee                        <\/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 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data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"236.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/236.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/236.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656342\" class=\"content-area-description single-story post-656342 post type-post status-publish format-standard has-post-thumbnail hentry category-policy tag-enterpriseam tag-investment-watch tag-policy tag-rania-al-mashat tag-startup-watch 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\/12\/.0756b121-b597-4d74-9def-72bc143f1caf.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The<\/strong> <strong>government\u2019s new Entrepreneurship Ministerial Committee has big <\/strong><strong>plans in <\/strong><strong>store:<\/strong> The recently formed Entrepreneurship Ministerial Committee has announced ambitious plans to increase investments in Egypt\u2019s startups tenfold to USD 5 bn in the coming period. But how exactly does the government plan to reach this lofty goal? EnterpriseAM spoke with Planning, Economic Development, and International Cooperation Minister Rania Al Mashat who serves as the committee head to get the inside scoop on how the committee will work as the government executes its plan to position Egypt as a regional startup hub.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s the right time to double down on startups: <\/strong>Entrepreneurship is witnessing significant growth globally, with the startup ecosystem representing a promising sector for our future economic growth, Prime Minister Mostafa Madbouly said during a recent <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9212886e-c5c0-4c2d-a942-8b03a42dde87\/government-lays-out-target-to-increase-startup-investments-10x-to-usd-5-bn\" style=\"\" rel=\"noopener\">meeting<\/a> with representatives of ten local startups. Madbouly noted that Egypt\u2019s relatively youthful population is a key asset in this field, adding that the government is committed to translating the sector\u2019s potential into economic growth through \u201crobust support.\u201d<\/p>\n<p class=\"tag-border-left\">THE DETAILS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The committee aims to strengthen the startup ecosystem: <\/strong>Among the committee\u2019s primary goals is strengthening the capacity of startups and the overall entrepreneurial climate, with an eye toward spurring sustainable growth and generating a greater number of high-quality jobs, Al Mashat told us. The committee will also be responsible for maximizing the local economy's benefit from startups, helping startups access international markets, linking sectors facing pressing challenges with innovative solutions from local startups, and reducing brain drain, she added. Additionally, the committee will be tasked with studying international entrepreneurship best-practices to be applied in line with the needs of the Egyptian market, Al Mashat noted.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The committee also plans to place a particular emphasis on youth and women in rural<\/strong> <strong>and underdeveloped areas<\/strong>, linking pressing challenges in these areas with innovative solutions offered by local entrepreneurs, Al Mashat said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The nuts and bolts:<\/strong> The committee will be headed by the Planning and International Cooperation Ministry and includes members from the CIT, higher education, finance, supply, investment, and industry ministries, as well as the head of the Micro, Small, and Medium Enterprises Development Agency (MSMEDA) and representatives from the Central Bank of Egypt and the Financial Regulatory Authority (FRA). The committee\u2019s technical secretariat was formed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9212886e-c5c0-4c2d-a942-8b03a42dde87\/government-lays-out-target-to-increase-startup-investments-10x-to-usd-5-bn\" style=\"\" rel=\"noopener\">last month<\/a>, and is jointly headed by the Planning Ministry and the General Authority for Investment and Freezones (GAFI). The group has also set up four specialized working groups focused on developing policy frameworks and accessing funding, managing startup initiatives and project coordination, ensuring global market access while retaining local talent, and finding solutions to sector challenges. A possible merger with the cabinet\u2019s permanent entrepreneurship unit could also be on the cards, Al Mashat added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The committee has also established a set of short-, medium-, and long-term goals,<\/strong> <strong>including: <\/strong><\/p>\n<ul>\n<li><strong>In the short term, <\/strong>agreeing on a plan of action, activating legislation related to the sector, and addressing information gaps;<\/li>\n<li><strong>In the medium term,<\/strong> coordinating government initiatives, focusing on specific sectors to maximize available resources, and facilitating government procedures for entrepreneurs; <\/li>\n<li><strong>In the long term,<\/strong> greatly increasing available jobs and boosting the number of Egyptian firms that achieve unicorn status, which will contribute to the growth of the Egyptian economy.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Startup players are getting their say: <\/strong>The committee has also received some 433 recommendations on improving Egypt\u2019s entrepreneurship ecosystem, according to Al Mashat. <\/p>\n<p class=\"tag-border-left\">A CLOSER LOOK AT THE COMMITTEE\u2019S EARLY INITIATIVES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- A charter for Egypt\u2019s startup community: <\/strong>A startup charter is currently being developed that will serve as a practical roadmap for defining what a startup is and supporting their growth and sustainability, Al Mashat said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- A coordination<\/strong><strong> framework for the sector: <\/strong>The ministerial group will issue a coordination framework that will include mechanisms for implementation, following up on progress, initiating cross-ministerial projects, and ensuring alignment of government activities to avoid conflicts between policies and legislation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Incentives for investors: <\/strong>The committee is currently developing tax exemptions and revising laws to ensure that they are in line with international standards and startups\u2019 needs, Al Mashat said. It\u2019s also activating incentives to encourage investments by major companies, whether directly or through VC funds. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Measures to ease market entry and support int\u2019l expansion: <\/strong>The group is also studying existing legislation in order to identify what laws require revision in order to encourage market entry, particularly with regard to business setup regulations and tax laws. The committee is also studying the creation of new legal frameworks to facilitate startups' entry into international markets, Al Mashat added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Learning from past initiatives:<\/strong> The group will look at previous programs and initiatives designed to help startups in order to design new programs and initiatives that effectively respond to their current needs, Al Mashat said.<\/p>\n<p class=\"tag-border-left\">THE ROAD AHEAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt also has all the tools needed to become a magnet for startup investment funds<\/strong> <strong>from the MENA region<\/strong>, particularly if measures to increase competitiveness, drive investments, and simplify procedures are implemented, sector players have told Al Mashat.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Still, several challenges remain:<\/strong> The relocation of homegrown startups and entrepreneurs to locations outside Egypt is one of the most prominent challenges facing the sector, along with legislative and legal hurdles and financial and tech support issues, Al Mashat told EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Development partners will have a key role to play:<\/strong> Whether through financing or investments and technical support, development partners have a pivotal role to play in supporting startups, Al Mashat told us. She noted that Egypt has many constructive partnership models with international entities, and that the committee aims to benefit from international partners that can provide startups with access to international markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sector players are optimistic<\/strong>, with a number of sector insiders noting that the formation of the specialized ministerial group for entrepreneurship is a positive indicator of the government\u2019s direction with regard to empowering startups (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=cUmWsLXdu5g&amp;ab_channel=MinistryofPlanning%2CEcon.Dev.%26IntlCooperation\" style=\"\" rel=\"noopener\">watch, runtime: 9:52<\/a>). <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a 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class=\"f-graphik\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/03\/arab-organization-for-industrialization-to-set-up-tire-manufacturing-city-with-unnamed-chinese-partner\/\">\r\n                            Arab Organization for Industrialization to set up tire manufacturing city with unnamed Chinese partner                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/215.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"215.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/215.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/215.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656345\" class=\"content-area-description single-story post-656345 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-arab-organization-for-industrialization tag-automotive tag-egypt-aluminum tag-el-nasr-automotive tag-enterpriseam tag-manufacturing tag-scatec 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\/12\/.b00b70d8-ef66-4d25-aa11-ec0b0706a1a8.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The localization of the auto industry continues to rank high on the gov\u2019t\u2019s agenda:<\/strong> The Industry Ministry revealed new information about the government\u2019s plans to localize automotive feeder industries during yesterday\u2019s ministerial group for industrial development meeting, according to a ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0EuzCBsoAMF3yBhTyejh64gEcujuPrNrsbKKeAVfztaBvCJ6DP9jV9advhe5F7Py2l\" style=\"\" rel=\"noopener\">statement<\/a>. The projects under discussion included a raft of tire manufacturing projects as well as a new initiative to produce EV batteries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Welcome to tire city: <\/strong>The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/70dd2612-1d8c-4f14-877e-802044a3b1d5\/egyptian-chinese-jv-to-set-up-usd-360-mn-tire-factory-in-the-sczone\" style=\"\" rel=\"noopener\">USD 360 mn joint tire-manufacturing project<\/a> between the Arab Organization for Industrialization (AOI) and an unnamed Chinese company is set to be an entire tire manufacturing city in a freezone in Ain Sokhna, with the project to include three tire factories, a facility for manufacturing tire production equipment, service and maintenance centers, a steel wire plant for tire reinforcement, a white carbon production facility, and a research and training center, according to the statement. The first tire factory will kick off operations within a year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And that\u2019s not all on the tire front: <\/strong>State-owned tire manufacturer Trenco\u2019s Alexandria-based factory \u2014 which manufactures Nisr brand tires \u2014 is set to be developed in partnership with unnamed European companies, with production targeted to start within two years. A <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4188be2c-d058-47d9-a742-35ef5661ec69\/could-the-private-sector-help-revive-state-owned-tire-maker%253cmark%253e-trenco%253c%2Fmark%253e%3F\" style=\"\" rel=\"noopener\">new Trenco tire factory<\/a> is also set to be established in collaboration with a Chinese company in Alexandria\u2019s Amreya, the statement noted. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>Local sources reported back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4188be2c-d058-47d9-a742-35ef5661ec69\/could-the-private-sector-help-revive-state-owned%253cmark%253e-tire%253c%2Fmark%253e-maker-trenco%3F\" style=\"\" rel=\"noopener\">August<\/a> that the government was looking to team up with the private sector to revive and develop state-owned tire manufacturer Trenco, with estimated investments of USD 160 mn. Trenco \u2014 which previously covered 30% of the internal market \u2014 shut down operations in 2022.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There are also plans in the works to manufacture electric bus batteries<\/strong>, which will support the production of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e231a5e8-5a06-41ad-9464-d0385800c699\/%253cmark%253eel-nasr-automotive%253c%2Fmark%253e-back-in-gear-after-15-year-assembly-pause\" style=\"\" rel=\"noopener\">El Nasr Automotive\u2019s electric microbuses<\/a> and expand the EV supply chain.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EgyptAlum\u2019s Nagaa Hammadi aluminum plant set to undergo expansion in 2025:<\/strong> The government has approved a four-year plan starting next year to expand the production capacity of state-owned aluminum producer EgyptAlum\u2019s Nagaa Hammadi complex, with an eye toward fulfilling local demand and reducing imports of aluminum. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Norwegian renewables player Scatec is set to build a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/030a7f95-e1d2-4bbb-97de-4027ece8dafe\/scatec%25e2%2580%2599s%253cmark%253e-nagaa-hammadi%253c%2Fmark%253e-solar-plant-is-going-to-be-twice-as-big-as-we-thought,-cost-usd-1.1-bn\" style=\"\" rel=\"noopener\">USD 1.1 bn solar plant<\/a> to power the ramping up of production at the complex with an extra 2-GW worth of power.<\/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\/arab-organization-for-industrialization\/\">Arab Organization for Industrialization<\/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\/egypt-aluminum\/\">Egypt Aluminum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-nasr-automotive\/\">El Nasr Automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/scatec\/\">Scatec<\/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=\"656347\" 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=\"656347\">\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\">A MESSAGE FROM VODAFONE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/03\/vodafone-egypt-unveils-ongoing-commitment-to-disability-inclusion-on-international-day-of-people-with-disabilities-pwds\/\">\r\n                            Vodafone Egypt unveils ongoing commitment to disability inclusion on International Day of People with Disabilities (PWDs)                        <\/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\/12\/03\/vodafone-egypt-unveils-ongoing-commitment-to-disability-inclusion-on-international-day-of-people-with-disabilities-pwds\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li 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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/03\/vodafone-egypt-unveils-ongoing-commitment-to-disability-inclusion-on-international-day-of-people-with-disabilities-pwds\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/202.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"656348\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/03\/vodafone-egypt-unveils-ongoing-commitment-to-disability-inclusion-on-international-day-of-people-with-disabilities-pwds\/202-jpg-23\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/202.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"202.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/202.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/202.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656347\" class=\"content-area-description single-story post-656347 post type-post status-publish format-standard has-post-thumbnail hentry category-a-message-from-vodafone tag-a-message-from-vodafone tag-enterpriseam tag-vodafone-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.8808e43f-9184-4038-97a2-6ab44f1c9d26.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Diversity and inclusion are crucial in both the workplace and the community. In honor of <strong>International Day of People with Disabilities (PWDs)<\/strong>, Vodafone Egypt highlights their initiatives that empower individuals with disabilities, demonstrating its commitment as a market leader.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In partnership with Helm, Vodafone Egypt, as the strategic partner, just launched the <\/strong><strong>\u201cUnity Cup\u201d, the first inclusive football tournament in the MENA region<\/strong>, to break barriers for people with disabilities (PWDs). Vodafone competed with two teams made up of employees with and without disabilities against 20 other participating companies. Vodafone Egypt\u2019s team placed second in goalball and third in pan-disability football.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Earlier this year, it also introduced LEAP<\/strong>, Egypt\u2019s first two-year graduate program for PWDs in the private sector. Currently, Vodafone Egypt's PWD employment rate is at 5%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Vodafone Egypt's AI Assistive Tools Hackathon is the first event of its kind<\/strong> for people with disabilities (PWDs) in Egypt\u2019s private sector. The strategic goal of the hackathon, which has run for two editions so far, is to develop technology that empowers PWDs in the workplace by enhancing technological accessibility and work opportunities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Committed to uplifting the Egyptian market and empowering the community of PWDs in Egypt, <strong>Vodafone Egypt forged an impactful partnership with Ain Shams University in 2024<\/strong> to collaborate with its center for disabled students. This alliance will offer transformative training and dynamic internship opportunities aimed at enhancing the employability of PWDs in Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As a market leader in empowering people with disabilities (PWDs)<\/strong>, Vodafone Egypt has been recognized with multiple prestigious accolades. In 2024, Vodafone Egypt was named the Gold Winner for Excellence in Diversity & Inclusion at the SHRM MENA Star Awards, marking two consecutive years of receiving this top honor. Vodafone Egypt also earned the Silver Award for Health and Well-being, reflecting dedication to creating supportive environments for all. At the 2024 International Customer Experience Awards (ICXA), Vodafone\u2019s tailored Call Center for the Deaf and Hard of Hearing was celebrated with the Best Customer-Centric Culture Award, reinforcing its commitment to accessibility and equal experiences for all customers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In 2016, Vodafone Egypt proudly launched the Deaf and Hard of Hearing Call Center<\/strong>, for the first time. Since then, its impact has grown immensely, with a customer base reaching thousands today. Additionally, it took the initiative of organizing awareness sessions on sign language to empower school students, sharing Vodafone Egypt\u2019s expertise in serving the deaf and mute community.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Today, Vodafone Egypt celebrates a 50% accessibility rate for PWDs<\/strong> at its retail stores, with each governorate boasting at least one accessible location. With over 200 trained employees in sign language across its 112 stores, Vodafone Egypt exemplifies its commitment to inclusivity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Vodafone Egypt\u2019s mission is to ensure that no one is left behind<\/strong> by fostering a culture of diversity, inclusion, and empowerment through positive impactful initiatives.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/a-message-from-vodafone\/\">A MESSAGE FROM VODAFONE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vodafone-egypt\/\">Vodafone 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=\"656349\" 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=\"656349\">\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\">PHARMA<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/03\/government-dues-owed-to-pharma-firms-hit-egp-50-bn\/\">\r\n                            Egyptian government dues owed to pharma firms hit EGP 50 bn                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/03\/government-dues-owed-to-pharma-firms-hit-egp-50-bn\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Despite the mounting debts, firms continue to supply meds under existing agreements with the Unified Procurement Authority to keep hospitals stocked, Auf added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the government is keen to let the industry know that it will make good on its debts<\/strong>, with an announcement last week that it has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/133ed8d5-8cd9-4468-9405-4358adaf7410\/gov%25e2%2580%2599t-targeting-50%2525-vaccine-localization-by-2030.-plus:-flydubai,-e-finance-%2B-cassava,-ezz-steel#:~:text=%232%2D%20Gov%E2%80%99t%20allocates%20EGP%2010%20bn%20to%20settle%20debts%20owed%20to\" style=\"\" rel=\"noopener\">allocated a total of<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/133ed8d5-8cd9-4468-9405-4358adaf7410\/gov%25e2%2580%2599t-targeting-50%2525-vaccine-localization-by-2030.-plus:-flydubai,-e-finance-%2B-cassava,-ezz-steel#:~:text=%232%2D%20Gov%E2%80%99t%20allocates%20EGP%2010%20bn%20to%20settle%20debts%20owed%20to\" style=\"\" rel=\"noopener\">EGP 10 bn<\/a> to settle a significant portion of debts owed to pharma and medical supplies companies, to be paid over a three-week period. Prime Minister Mostafa Madbouly also reaffirmed the government\u2019s efforts to fully settle its dues owed to pharma firms.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While the government\u2019s commitment to pay a portion of outstanding dues offers firms some relief, Auf <\/strong><strong>emphasized the need for additional support<\/strong> to address liquidity issues and sustain production. He noted that while the sector has been included in the government\u2019s low-interest financing initiative, which offers loans at a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/87b399ed-19f9-4ab0-a6f7-b1bcf5897fb8\/egypt-rejects-reports-it-asked-imf-to-up-its-next-loan-trance-by-an-extra-usd-700-mn\" style=\"\" rel=\"noopener\">15% interest rate<\/a> for manufacturers, firms have yet to receive the soft loans carrying <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a999619f-062f-426f-9d80-51833220c11b\/gov%E2%80%99t-to-end-meds-shortage-with-subsidized-loans-for-pharma-players\" style=\"\" rel=\"noopener\">interest rates of 5-7%<\/a> that they were told would be coming in order to help them recover to pre-FX crisis production levels.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new distribution initiative is also hoping to bring liquidity into the sector and avoid similar crises in the future<\/strong>, with 1.5k licensed pharma warehouses expected to receive a larger share of locally produced meds in exchange for immediate payment of manufacturers. These distributors, which currently collectively hold around EGP 70-80 bn in liquidity, according to Auf, are expected to play a pivotal role in easing the cash crunch across the sector by assuring that a greater portion of meds purchases are paid for up front rather than in arrears.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meds price hikes are set to continue<\/strong>, with the sector to hike the prices of around 100 meds per month. Auf added the increases will be incremental and targeted, with more modest adjustments for chronic illness meds and larger hikes for non-chronic meds.<\/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\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"656351\" 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=\"656351\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/03\/nowlun-secures-usd-1-7-mn-in-seed-funding-round-to-drive-regional-expansion\/\">\r\n                            Nowlun secures USD 1.7 mn in seed funding round to drive regional expansion                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n   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<\/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\/12\/03\/nowlun-secures-usd-1-7-mn-in-seed-funding-round-to-drive-regional-expansion\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/217.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"656352\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/03\/nowlun-secures-usd-1-7-mn-in-seed-funding-round-to-drive-regional-expansion\/217-jpg-32\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/217.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"217.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/217.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/217.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656351\" class=\"content-area-description single-story post-656351 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam tag-logistics tag-nowlun tag-startup-watch tag-startups tag-venture-capital 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\/12\/.ed42e738-75d7-4fb0-8da7-c964ee54ec26.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Local and regional investors lead N<\/strong><strong>owlun <\/strong><strong>seed funding round: <\/strong>Egyptian digital shipping platform <a target=\"_blank\" href=\"https:\/\/nowlun.com\/en\" style=\"\" rel=\"noopener\">Nowlun<\/a> has raised USD 1.7 mn in a seed funding round led by Saudi Arabia\u2019s Nama Ventures and Egyptian VC A15, with participation from Sanabil 500 Global and prominent angel investors, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/12\/egypt-nowlun-closes-1-7-million-seed-round\" style=\"\" rel=\"noopener\">press release<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where is the money going? <\/strong>The funds will be used to accelerate Nowlun\u2019s expansion in the MENA region, enhance its shipment management platform, and expand its real-time cargo tracking capabilities, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/%D9%86%D9%88%D9%84%D9%88%D9%86-%D8%AA%D8%B3%D8%AA%D9%87%D8%AF%D9%81-%D8%AC%D9%85%D8%B9-%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D9%84%D8%AA\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reported, citing the company CEO <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/moataz-khamis-80460323\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">Moataz Khamis<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> Nowlun aims to expand its workforce from 40 to 100 employees by 2025 to support its regional and global growth plans. The company also plans to add Jeddah and Damman branches to its current roster of offices in Cairo, Alexandria, and Riyadh next year, according to Khamis.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another funding round is also in the works: <\/strong>Nowlun plans to launch a fresh investment round in the second half of 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cDriven by a sense of responsibility, my team and I are committed to transforming this industry using cutting-edge technologies. This funding will enable us to further simplify the shipping process and make shippers\u2019 lives easier,\u201d said Khamis.<\/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\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nowlun\/\">Nowlun<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture capital<\/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=\"656353\" 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=\"656353\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/03\/nbe-and-banque-du-caire-report-solid-bottomline-growth\/\">\r\n                            NBE and Banque du Caire report solid bottomline growth                        <\/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\/12\/03\/nbe-and-banque-du-caire-report-solid-bottomline-growth\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n     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data-attachment-id=\"656354\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/03\/nbe-and-banque-du-caire-report-solid-bottomline-growth\/643-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/643.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"643.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/643.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/643.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656353\" class=\"content-area-description single-story post-656353 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-banking tag-banque-du-caire tag-earnings-watch tag-enterpriseam tag-national-bank-of-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.622eac44-1a3d-447f-a029-4a093e6854d9.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The earnings reports continue to trickle in<\/strong> with the National Bank of Egypt and Banque du Caire both logging strong bottomline growth in their newly released earnings statements.<\/p>\n<p class=\"tag-border-left\">NBE SEES NET INCOME RISE 146% IN 2Q-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>NBE\u2019s net income soars in 2Q 2024:<\/strong> The National Bank of Egypt reported a 146% y-o-y increase in net income during 2Q 2024 to EGP 44.8 bn, according to the bank\u2019s most recent <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/156.pdf\" style=\"\" rel=\"noopener\">standalone financial statement (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For the half: <\/strong>NBE recorded a net income of EGP 70.6 bn in 1H 2024, marking a 186% y-o-y from the same period in 2023. <\/p>\n<p class=\"tag-border-left\">BANQUE DU CAIRE SEES NET INCOME INCREASE 50% IN 3Q-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Banque du Caire\u2019s 3Q net income rises 50% y-o-y:<\/strong> Banque du Caire reported a net income of EGP 2.9 bn in 3Q 2024, up 50% from the same period last year, according to its most recent <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/207.pdf\" style=\"\" rel=\"noopener\">standalone financial statements (pdf)<\/a> and accompanying <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/158.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>For the nine months: <\/strong>The bank\u2019s net income grew 90% y-o-y in 9M 2024 to reach EGP 8.6 bn, driven by robust growth across retail banking, treasury, corporate services, and SME banking. The bank\u2019s gross loan portfolio also increased 20% y-o-y in 9M 2024 to EGP 216 bn.<\/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\/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\/earnings-watch\/\">earnings watch<\/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=\"656355 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=\"656355\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/03\/656355\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656355\" class=\"content-area-description single-story post-656355 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/SodicContactUs\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2301.jpeg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"656356\" 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=\"656356\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/03\/fiery-rhetoric-from-trump-and-a-humanitarian-response-conference-in-cairo-caught-the-attention-of-the-nations-hosts\/\">\r\n                            Fiery rhetoric from Trump and a humanitarian response conference in Cairo caught the attention of the nation\u2019s hosts                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/03\/fiery-rhetoric-from-trump-and-a-humanitarian-response-conference-in-cairo-caught-the-attention-of-the-nations-hosts\/\" 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 television hosts also dissected the Cairo Ministerial Conference to Enhance the Humanitarian Response to Gaza that took place yesterday with over a hundred top diplomats from across the globe in attendance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cTrump isn\u2019t just threatening Hamas\u2014he\u2019s threatening the entire Middle East.<\/strong> These statements aren\u2019t just talk, they need to be taken seriously,\u201d Ahmed Moussa said on Ala Mas\u2019ouleety (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=4YO7eqbmcyg\" style=\"\" rel=\"noopener\">Watch, runtime 4:46<\/a>) in response to the president-elect\u2019s <a target=\"_blank\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/113584730902816413\" style=\"\" rel=\"noopener\">post on his Truth Social platform<\/a> earlier in the day.. \u201cThis is a clear, direct threat and a signal that Trump is coming in with a pro-expansion agenda for Israel. The Arab world needs to unite and confront this.\u201d Moussa also called on Hamas to act quickly and broker a ceasefire.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cWhat hell is Trump even talking about? Gaza is already living through the worst of it,\u201d <\/strong>retorted Amr Adib on Al Hekaya (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=2231738827200238\" style=\"\" rel=\"noopener\">Watch, runtime 4:45<\/a>). \"Dogs are eating the bodies of the dead in Gaza\u2014what\u2019s left to destroy? It\u2019s already hell in Gaza. And what does he mean by \u2018the Middle East\u2019? Are we just a blip he can talk about like that?\"<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ahmed Moussa provided a recap of the proceedings from the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/8808ea49-8fd4-4071-abe8-eff10c71fe74\/hassan-allam-adp-france-alliance-submits-airport-management-privatization-proposal#:~:text=Cairo%20is%20hosting%20a%20ministerial%20conference%20on%20the\" style=\"\" rel=\"noopener\">ministerial conference on<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/8808ea49-8fd4-4071-abe8-eff10c71fe74\/hassan-allam-adp-france-alliance-submits-airport-management-privatization-proposal#:~:text=Cairo%20is%20hosting%20a%20ministerial%20conference%20on%20the\" style=\"\" rel=\"noopener\">the humanitarian response in Gaza<\/a><\/strong> during his show (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=BCkpNZQot1M\" style=\"\" rel=\"noopener\">watch, runtime 17:00<\/a>). Moussa noted Foreign Minister Badr Abdelatty\u2019s emphasis on Egypt\u2019s consistent stance on the Palestinian issue. Moussa words for the Western leaders were less generous however, as he called out the bn\u2019s of USD\u2019s and EUR\u2019s pledged to Ukraine by the US and Europe, while \u201cin Gaza, people are being wiped out while Americans support the Zionists,\u201d he said.<\/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\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"656358\" 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=\"656358\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/03\/cemex-inks-agreement-for-its-third-waste-to-energy-project-plus-visa-swypex-bp-lasirena-group-he-holding\/\">\r\n                            Cemex inks agreement for its third waste-to-energy project. PLUS: Visa + Swypex, BP, Lasirena Group + HE Holding                        <\/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\/12\/03\/cemex-inks-agreement-for-its-third-waste-to-energy-project-plus-visa-swypex-bp-lasirena-group-he-holding\/\" 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\/12\/03\/cemex-inks-agreement-for-its-third-waste-to-energy-project-plus-visa-swypex-bp-lasirena-group-he-holding\/')\">\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\/12\/03\/cemex-inks-agreement-for-its-third-waste-to-energy-project-plus-visa-swypex-bp-lasirena-group-he-holding\/\">\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=Cemex inks agreement for its third waste-to-energy project. PLUS: Visa + Swypex, BP, Lasirena Group + HE Holding&url=https:\/\/enterpriseam.com\/egypt\/2024\/12\/03\/cemex-inks-agreement-for-its-third-waste-to-energy-project-plus-visa-swypex-bp-lasirena-group-he-holding\/\">\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\/12\/03\/cemex-inks-agreement-for-its-third-waste-to-energy-project-plus-visa-swypex-bp-lasirena-group-he-holding\/&title=Cemex inks agreement for its third waste-to-energy project. PLUS: Visa + Swypex, BP, Lasirena Group + HE Holding\">\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=Cemex+inks+agreement+for+its+third+waste-to-energy+project.+PLUS%3A+Visa+%2B+Swypex%2C+BP%2C+Lasirena+Group+%2B+HE+Holding+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F12%2F03%2Fcemex-inks-agreement-for-its-third-waste-to-energy-project-plus-visa-swypex-bp-lasirena-group-he-holding%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\/12\/03\/cemex-inks-agreement-for-its-third-waste-to-energy-project-plus-visa-swypex-bp-lasirena-group-he-holding\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1836.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"656359\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/03\/cemex-inks-agreement-for-its-third-waste-to-energy-project-plus-visa-swypex-bp-lasirena-group-he-holding\/1836-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1836.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1836.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1836.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1836.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656358\" class=\"content-area-description single-story post-656358 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-bp tag-energy tag-enterpriseam tag-fintech tag-oil-and-gas tag-real-estate tag-recycling tag-renewables tag-visa wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.6b245715-0757-4b45-b323-79b76bd7f503.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">RECYCLING-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Cemex to manage and operate waste WtE facility in Minya:<\/strong> Cemex signed an agreement with Minya Governorate for the management and operation of a EGP 90 mn waste-to-energy (WtE) facility in Tuna El Gabal in Minya, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0vuwK79dZhepoBfueefP1C99Df1rXNXWjE6QLUtkWc7et4yX6dvC2tFEHs1X3rhuBl\" style=\"\" rel=\"noopener\">statement<\/a> from the Environment Minister. The plant is part of a EGP 278 mn initiative in Minya for waste recycling. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The facility will have a recycling capacity of 20 tonnes per hour, and 320 tonnes per day. The waste will be treated to produce alternative fuel and organic fertilizer, with the rejected waste being disposed of in landfills in the governorate. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This isn\u2019t Cemex\u2019s only WtE projects in the pipeline: <\/strong>Cemex took steps to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/775a5e9e-160a-44c3-966b-a6517cb82bfb\/are-eco-industrial-parks-the-key-to-a-cleaner-industrial-future%3F\" style=\"\" rel=\"noopener\">establish<\/a> its first waste conversion facility in Gharbia Governorate back in May, with the company signing a partnership agreement to manage and operate a non-hazardous waste recycling and processing plant in El Mahalla El Kubra. In September, the company also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c7d688c6-74d5-4a10-96b6-6f2595dd7a0d\/%253cmark%253ecemex%253c%2Fmark%253e-inks-agreement-to-take-on-its-second-waste-to-energy-project.-plus:-ezdehar,-neopay,-cairo-metro\" style=\"\" rel=\"noopener\">inked an agreement<\/a> with Assiut Governorate for a WtE facility with a monthly processing capacity of 7k tons of waste.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>We <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cddb654f-695e-48b6-bb71-2f45e6624b83\/waste-to-energy-projects-worth-up-to-usd-1.2-bn-could-be-coming-our-way-soon\" style=\"\" rel=\"noopener\">heard in August<\/a> that the government is set to sign contracts collectively worth up to USD 1.2 bn with eight local-foreign consortiums to produce a total of 1.7 bn Kw\/h of electricity from municipal solid waste across a number of governorates.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Want more? <\/strong>We did a deep dive into where our waste-to-energy ambitions stand in a Going Green we published last year. Check out the story <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59b037fd-7b96-49ea-9b9a-d6c5600b8723\/where-do-our-waste-to-energy-ambitions-stand%3F\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p class=\"tag-border-left\">FINTECH-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Visa has partnered with local fintech<\/strong> <strong>platform Swypex to digitize business payments in<\/strong><strong> Egypt<\/strong> to \u201ctransform how businesses manage finances, streamline operations, and adopt smarter payment solutions,\u201d according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/204.pdf\" style=\"\" rel=\"noopener\">joint statement (pdf)<\/a>. \u201cWe are excited to support Swypex in their mission to revolutionize corporate financial management and look forward to the positive impact this collaboration will have on the broader market,\u201d Visa Egypt Country Manager Malak El Baba said.<\/p><p class=\"tag-border-left\">ENERGY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Jordan to use Egypt\u2019s floating LNG regassification units:<\/strong> Egyptian Natural Gas Holding Company\u2019s (EGAS) has signed an agreement with Jordan\u2019s National Electric Power Company (NEPCO) that will see Jordan share the use of one of Egypt's LNG storage and regasification units over the next two years, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0vhGYhe5i1bvYiyDqVyWTwfkxVZ6WfXZgFY4n2vqs4n9JB21sb3pFveZGLon9G54Cl\" style=\"\" rel=\"noopener\">statement<\/a> from the Oil Ministry. The agreement will enable Jordan to ensure it can process incoming shipments ahead of its fixed Aqaba LNG terminal slated for completion in 2026, according to <a target=\"_blank\" href=\"https:\/\/www.cnbcafrica.com\/wire\/654274\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong> <strong>BP to invest in Egypt\u2019s renewable energy sector:<\/strong> BP CEO Murray Auchincloss signaled the company\u2019s intent to invest in Egypt\u2019s renewables sector and expand its existing hydrocarbon interests in the county in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid027FcL5zt3P3KrC45AqnZcy7vTfLbnDceKEaBoSJZGTUYB9D52NZcynuefPiRNmUVYl\" style=\"\" rel=\"noopener\">meeting<\/a> with President Abdel Fattah El Sisi and Oil Minister Karim Badawy.<\/p><p class=\"tag-border-left\">REAL ESTATE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lasirena to expand in Abu Dhabi with HE Holding:<\/strong> Local real estate and tourism company Lasirena Group formed a strategic alliance with Emirati conglomerate HE Holding to develop projects in Abu Dhabi, Amwal Al Ghad reports. The company is looking at potential expansions into several other countries and will announce a significant expansion in the local market soon, Lasirena Chairman Ahmed Omar said.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/bp\/\">BP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"211.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/211.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/211.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656360\" class=\"content-area-description single-story post-656360 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.976b45e0-f687-4ae6-a90e-9e9f2c4dd370.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Wall Street kicks off the last month of the year on a high:<\/strong> The Nasdaq and S&amp;P 500 closed their first trading session in December at record highs, buoyed largely by tech stocks, including Tesla, which closed up 3.5%. Yesterday\u2019s rise also piggybacked off their performance in November, which ended as the indexes\u2019 strongest month of the year. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Markets are getting a boost from Trump 2.0:<\/strong> Donald Trump\u2019s upcoming return to the White House helped push a rally in stocks last month, with strategists seeing upside from the president-elect\u2019s \u201cpotential plans for tax cuts and deregulation,\u201d according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/futures-slip-start-data-packed-week-2024-12-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. Investors are broadly positive on the incoming \u201cpro-business\u201d administration, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/12\/01\/stock-market-today-live-updates.html\" style=\"\" rel=\"noopener\">CNBC<\/a> says. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Upcoming data could rock the boat a little, but December will likely be a good month for <\/strong><strong>markets:<\/strong> The US Labor Department is set to release November jobs data this Friday, which some analysts and investors expect will create some volatility in the markets, according to the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/stock-market-today-dow-sp500-nasdaq-live-12-02-2024\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>. Investors are also keeping an eye on the US Federal Reserve\u2019s next Federal Open Market Committee meeting, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/rates-bonds\/feds-waller-says-inclined-this-point-cut-rates-december-2024-12-02\/\" style=\"\" rel=\"noopener\">following remarks<\/a> from Fed Governor Christopher Waller that he\u2019s leaning towards a rate cut but has concerns about inflation levels. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Still, analysts don\u2019t expect markets to skyrocket this month.<\/strong> \u201cDecember seasonality is generally bullish, but there\u2019s precedent for a pullback when the market is already up big through November of election years,\u201d Bespoke Investment Group said, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-01\/asian-stocks-poised-for-gains-after-best-us-month-markets-wrap\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The S&amp;P 500 could end the year at 6.2k points \u2014 a little less than 3% higher than its November close \u2014 as the index is likely to \u201cgrind higher, but not rocket higher,\u201d InfraCap CEO Jay Hatfield tells CNBC.<\/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 broadly in the green in early morning trading<\/strong>, buoyed by gains from Wall Street yesterday. The Nikkei and Kospi are both up, while the Hang Seng Index is just barely in the red. Meanwhile, futures indicate the S&amp;P 500 and Nasdaq are set to open in the green, while the Dow Jones could be facing some selling pressure. <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,525<\/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: +22.6%)<\/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>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 49.65<\/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 49.78<\/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 49.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 49.77<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,739<\/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\">-0.02% (YTD: -1.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9235<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: -3.6%)<\/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\">4847<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +19.4%)<\/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>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\">6047<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +26.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8313<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +7.4%)<\/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>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\">4847<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: +7.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 71.83<\/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 3.20<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2661.60<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 95,428.60<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.4% (YTD: +125.9%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 0.1% at today\u2019s close<\/strong> on turnover of EGP 4.4 bn (6.1% above the 90-day average). Regional investors were the sole net sellers. The index is up 22.6% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Alexandria Containers and Goods (+6.3%), Eastern Company (+5.6%), and Palm Hills Developments (+4.6%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Ezz Steel (-3.4%), Orascom Construction (-2.0%), and Cleopatra Hospitals (-1.9%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"656362\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">11<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/creating-an-international-market-for-green-hydrogen-will-be-key-to-executing-the-green-transition\/\">\r\n                            Creating an international market for green hydrogen will be key to executing the green transition<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/creating-an-international-market-for-green-hydrogen-will-be-key-to-executing-the-green-transition\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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However, the implementation of an international market for green hydrogen requires significantly scaled-up sustainable value chains, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/63.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a> from the World Trade Organization (WTO) and the International Renewable Energy Agency (IRENA). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>International trade policy will have a crucial role to play \u2014 and, if done right, it could <\/strong><strong>save a lot of money: <\/strong>Scaling up the production of green hydrogen on a global scale can only take place by \u201cmatching regions where these commodities are in high demand with regions benefitting from abundant supply,\u201d the report reads. Cross-border trade could help save some USD 3.7 tn in investment costs by mid-century by connecting high-demand areas with regions that can easily and cheaply generate the renewable energy needed to produce green fuels at a low cost. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Policy makers will have to utilize what\u2019s available in their respective tool boxes: <\/strong>The report encourages policy makers to look into the resources and tools available to them in their economies that could help boost the development of an international market for green hydrogen, which include \u2014 but aren\u2019t limited to \u2014 \u201ctrade policies such as standardisation and certification mechanisms, government support and procurement, rebalancing tariffs, and carbon pricing mechanisms.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The report\u2019s recommendations break down relevant interventions into<\/strong> <strong>three buckets<\/strong>, which it refers to as physical, institutional, and social \u201cenablers\u201d that can help support the development of international markets for these specific green commodities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The physical enablers laid out by the report focus on the infrastructure that is essential <\/strong><strong>for integrating green hydrogen into global economies<\/strong>, including \u201crenewable energy generators, hydrogen production plants and derivative commodity production facilities,\u201d as well as \u201cinfrastructures for the storage, transport, distribution and delivery of hydrogen and derivative commodities.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Green bunkering is part of this broader picture, with the Suez Canal Economic Zone \u2014 the ground zero for many of Egypt\u2019s green hydrogen and ammonia projects \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/194e2c29-6f37-41d4-94fb-1436795903e4\/egypt-could-play-a-key-role-in-the-maritime-industry%25e2%2580%2599s-decarbonization'\" style=\"\" rel=\"noopener\">previously saying<\/a> that it wants to roll out green methanol bunkering services before 2027 after receiving requests to supply ships with green methanol and gas. Blending green hydrogen into our <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e300ce9-0b7c-4713-be73-1dc1d7c83202\/could-mixing%253cmark%253e-green%253c%2Fmark%253e%253cmark%253e-hydrogen%253c%2Fmark%253e-into-the-country%25e2%2580%2599s-existing-natural-gas-pipelines-play-an-important-part-in-the-country%25e2%2580%2599s-energy-transition%3F\" style=\"\" rel=\"noopener\">existing natural gas pipeline infrastructure<\/a> is also an option to exploit as we build out green hydrogen-specific infrastructure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The report recommends a \u201cholistic\u201d approach to ensuring the availability of resources <\/strong><strong>when planning for infrastructure development<\/strong> \u2014 one that takes into account the supply of renewable electricity, water, and carbon. It also calls for the prioritization of distribution infrastructure to \u201censure market access for producers,\u201d and emphasizes the need for developing diversified supply chains across related sectors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Institutional enablers also have a big role to play: <\/strong>Nascent regulatory frameworks will need to be developed further in order to implement a global green hydrogen economy, the report notes. Governments will need to consider a whole range of different policy measures and interventions \u2014 including carbon tax credits, emissions trading systems, electrolyser subsidies, investment incentives, the allocation of state-owned lands, and demonstration applications \u2014 in order to create the optimal conditions for the growth of domestic and international green hydrogen markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the global scale, developing shared standards is key:<\/strong> Given that the market is in its infancy, there is as of yet no clear alignment on global standards and certification requirements. These are needed to ensure that common definitions of what constitutes \u201cgreen\u201d hydrogen are being met across international borders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Developing green hydrogen markets could bring about considerable social benefits: <\/strong>Developing a global market for green hydrogen and its derivatives could lead to significant job growth and overall socioeconomic progress \u2014 but will necessitate training local workforces to work in the sector, the report notes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emerging markets stand to benefit:<\/strong> The report estimates that further development of the global green hydrogen market could unlock around 22 mn jobs by 2050 \u2014 half of which would be in emerging markets and developing countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where Egypt stands:<\/strong> Our significant experience in gray and green hydrogen and ammonia is an optimal starting point for establishing a thriving low-carbon hydrogen economy. The country also has substantial renewable energy capacity, a strategic geographic location in terms of proximity to European countries with high green hydrogen demand, well-developed port infrastructure, and access to global maritime traffic through the Suez Canal.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong> Egypt is poised to be a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f644d2ea-6505-4046-8a9d-f668f2a3a73c\/how-will-egypt-fare-in-the-global-green-hydrogen-race-by-2030%3F\" style=\"\" rel=\"noopener\">relatively cost-competitive producer<\/a> in the global green hydrogen and green ammonia markets by 2030 as the costs of electrolyzer systems and financing \u2014 as well tariff prices for renewable energy generation \u2014 fall. While our green fuel economy still has room to grow, we seem to be well-positioned to take advantage of a global green hydrogen market once it emerges.<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"656364\" 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\/12\/03\/656364\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656364\" class=\"content-area-description single-story post-656364 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;\">DECEMBER<\/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;\">27 November-3 December (Wednesday-Tuesday): United Bank IPO retail placement<\/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;\">3 December (Tuesday): S&P Global will publish Egypt\u2019s PMI figures for November<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-5 December: (Tuesday-Thursday) Food Africa 2024, Egypt International Exhibitions Center, Cairo <\/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;\">4-5 December (Wednesday-Thursday): Russian trade mission to visit 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;\">7 December (Saturday): The Scientific Society for Tax Legislation will hold its annual conference<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7 December (Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/cairo.beacon.com.eg\/\" style=\"\">The Future of Finance Conference 2024<\/a><\/span><span style=\"font-weight:400;\">, Conrad Cairo Hotel, 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;\">10 December (Tuesday): Capmas expected to publish inflation data for 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;\">12-21 December (Thursday-Saturday): Turathna handicrafts and heritage exhibition, Egypt International Exhibitions Center, Cairo<\/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;\">15-17 December (Sunday-Tuesday): Nebu Expo for Gold & Jewelry, 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;\">16-17 December (Monday-Tuesday): Mining World Conference 2024, 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;\">22 December (Sunday): The Nahda University Economic Forum\u2019s third edition is set to take place<\/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 style=\"font-weight:400;\">End of 2024: The launch of the high-speed train 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: Civil Society Support Fund to launch digital platform <\/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: 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;\">February: Orascom Pyramids Entertainment to bring total investments in the Pyramids Plateau to EGP 1.5 bn  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1 January (Wednesday): The minimum pension will <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0AuG4sE6XqJHZFNt85jbQW7k9u1dgwtmCJK27h1VgQHQ5n2YKnDFX6wGVj3kRPGKgl\" style=\"\">increase<\/a><\/span> <span style=\"font-weight:400;\"> to EGP 1.5k, and the maximum to EGP 11.6k<\/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 style=\"font-weight:400;\">18-19 February (Saturday-Sunday): German-Egyptian Joint Economic Committee meetings, 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;\">7-10 April 2025 (Monday-Thursday): EFG Hermes One on One 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;\">1Q 2025: Eipico\u2019s biopharma plant to begin 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;\">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 style=\"font-weight:400;\">2Q 2025: Safaga Terminal 2 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 style=\"font-weight:400;\">20 January-7 February: Egypt to host the African Games<\/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;\">End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place<\/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;\">September 2028: First unit of the Dabaa nuclear power plant begins operations<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Tire city, here we come | Gov\u2019t dues to pharma companies hit EGP 50 bn | Turning waste into energy<\/p>\n","protected":false},"featured_media":656338,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-656337","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"f707cf29-e777-4c41-af2b-e3ecb58c5b4d","teaser":"Tire city, here we come | Gov\u2019t dues to pharma companies hit EGP 50 bn | Turning waste into energy","photo_url":"https:\/\/ent.news\/2024\/12\/234.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>Al Mashat lays out entrepreneurship committee\u2019s plan to up startup investments tenfold - EnterpriseAM 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