{"id":656415,"date":"2024-12-04T00:00:00","date_gmt":"2024-12-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=656415"},"modified":"2025-12-18T01:48:56","modified_gmt":"2025-12-18T01:48:56","slug":"heavy-investor-interest-sees-united-banks-retail-tranche-oversubscribed-59x","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/heavy-investor-interest-sees-united-banks-retail-tranche-oversubscribed-59x\/","title":{"rendered":"Heavy investor interest sees United Bank\u2019s retail tranche oversubscribed 59x"},"content":{"rendered":"<section id=\"656417\" 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=\"656417\">\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\/04\/government-to-kick-off-the-new-year-with-a-port-privatization-push\/\">\r\n                            Government to kick off the new year with a port privatization push?                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/government-to-kick-off-the-new-year-with-a-port-privatization-push\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1478.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"656418\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/government-to-kick-off-the-new-year-with-a-port-privatization-push\/1478-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1478.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1478.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1478.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1478.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656417\" class=\"content-area-description single-story post-656417 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-logistics tag-privatization-watch tag-trade 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\/.2cc3f037-6220-4a2f-95dd-433b0cb11a0a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Goo<\/strong><strong>d morning, <\/strong><strong>folks. <\/strong>As we near the end of the first week of December, it looks like we might be in for a busy few weeks in terms of local business, finance, and economy news until the end of the year. In today\u2019s packed issue of EnterpriseAM, we\u2019ve got important IPO updates, a health check for the country\u2019s private sector, an auction first for the country, renewables financing, and more \u2014 so, let\u2019s get started.<\/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 overcast day in Cairo today<\/strong>, with a high of 22\u00b0C and a low of 14\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>Intermittent showers are forecast for 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\">WATCH THIS SPACE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>Government to kick off the new year with a port privatization push? <\/strong>The government is planning on offering up stakes in its majority-owned <a target=\"_blank\" href=\"https:\/\/www.pscchc.com\" style=\"\" rel=\"noopener\">Port Said Container and Cargo Handling Company<\/a> (PSCCHC) and <a target=\"_blank\" href=\"http:\/\/www.dchc.com.eg\/\" style=\"\" rel=\"noopener\">Damietta Container and Cargo Handling Company<\/a> (DCHC) on the EGX during the first quarter of 2025, informed sources told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%85%d8%b5%d8%a7%d8%af%d8%b1-%d8%b7%d8%b1%d8%ad-%d8%b4%d8%b1%d9%83%d8%aa%d9%89-%d8%a8%d9%88%d8%b1%d8%b3%d8%b9%d9%8a%d8%af-%d9%88%d8%af%d9%85%d9%8a%d8%a7%d8%b7-%d9%84%d9%84%d8%ad%d8%a7%d9%88%d9%8a\/\" style=\"\" rel=\"noopener\">Al<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%85%d8%b5%d8%a7%d8%af%d8%b1-%d8%b7%d8%b1%d8%ad-%d8%b4%d8%b1%d9%83%d8%aa%d9%89-%d8%a8%d9%88%d8%b1%d8%b3%d8%b9%d9%8a%d8%af-%d9%88%d8%af%d9%85%d9%8a%d8%a7%d8%b7-%d9%84%d9%84%d8%ad%d8%a7%d9%88%d9%8a\/\" style=\"\" rel=\"noopener\">Mal<\/a>. PSCCHC\u2019s offering is expected by February, with DCHC\u2019s slated to kick off by March or April at the latest, the sources note.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The sources expect the government to offer 20-25% stakes in each company<\/strong>, with the IPO\u2019s private placement focused on attracting major companies like the UAE\u2019s AD Ports and DP World.<\/p><p class=\"tag-border-left\">HAPPENING TODAY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Deloitte\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.deloitte.com\/middle-east\/en\/events\/2024\/deloitte-egypt-tax-conference-2024.html\" style=\"\" rel=\"noopener\">Egypt Tax Conference 2024<\/a><\/strong><strong> begins today in Cairo<\/strong>, bringing together tax professionals, policymakers, and industry leaders to explore Egypt\u2019s evolving tax landscape. The one-day event will tackle topics including AI-driven tax solutions, bilateral tax treaties, and new government incentives designed to attract investment and fuel growth.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s day two of <\/strong><strong><a target=\"_blank\" href=\"https:\/\/foodafrica-expo.com\/\" style=\"\" rel=\"noopener\">Food Africa 2024<\/a><\/strong>, Africa\u2019s largest food and beverage trade exhibition, at the Egypt International Exhibitions Center in New Cairo. The three-day event brings together 900 wholesalers, distributors, and retailers in food and beverage industries from 32 countries across the world.<\/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>The global press started the week speculating about the possible fall of the government<\/strong><strong> in Syria, then France, and now South Korea<\/strong>, with President Yoon Suk Yeol\u2019s unexpected imposition of martial law quickly rescinded after a parliamentary vote \u2014 including dissent from his own conservative People Power Party \u2014 and outrage across the political spectrum. The move, criticized as an authoritarian overreach, has sent ripples through financial markets, with investor confidence shaken and the KRW initially weakening against the greenback before climbing back after the end of martial law. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/99191702-78dd-4d06-b4ec-301694e99e83\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/asia\/south-koreas-president-declares-martial-law-citing-threat-of-pro-north-korean-forces-a1fdc738?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-03\/south-korea-s-yoon-says-on-tv-that-he-will-lift-martial-law\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/south-korean-presidents-failed-attempt-martial-law-may-put-his-position-peril-2024-12-03\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/south-korea-yoon-martial-law-997c22ac93f6a9bece68454597e577c1\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2024\/12\/03\/world\/south-korea-martial-law\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/live\/2024\/dec\/03\/south-korea-declares-emergency-martial-law-yoon-suk-yeol-north-korea-latest-updates\" style=\"\" rel=\"noopener\">Guardian<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The expected<\/strong> <strong>collapse of French Prime Minister Michel Barnier\u2019s government is also <\/strong><strong>continuing to rank high on the digital front pages<\/strong>, as the country\u2019s lawmakers get ready for a no-confidence vote later today. As in South Korea, the political uncertainty has rattled financial markets, with bond investors punishing France\u2019s sovereign debt. President Macron appears to be making use of the plentiful sand during his trip to Riyadh to put his head in, telling reporters that he\u2019s confident the government can survive the vote. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ea121974-8899-420d-86a3-a3243e4be409\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-03\/macron-says-france-s-government-can-survive-no-confidence-vote?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/france-turning-point-amid-budget-uncertainty-finance-minister-says-2024-12-03\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2024\/dec\/03\/french-government-teeters-on-brink-of-collapse-as-no-confidence-vote-looms-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>While over in trade war news,<\/strong> <strong>China has banned exports to the US of key minerals and<\/strong><strong> metals <\/strong>\u2014 including gallium, germanium, and antimony \u2014 all used in semiconductors and military equipment, marking a sharp escalation in the ongoing US-China tech war. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/eca9a562-ffc7-4989-bbf6-734997409265\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/china-bans-exports-gallium-germanium-antimony-us-2024-12-03\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/china-us-tech-semiconductor-chip-gallium-6b4216551e200fb719caa6a6cc67e2a4\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/12\/03\/world\/asia\/china-minerals-semiconductors.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\"><strong>And in market news, some are wondering if the AI hype could soon be over<\/strong>, with Vanguard\u2019s Joe Davis warning that investors have overestimated the near-term potential of artificial intelligence, raising the likelihood of a market correction. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/8b5c4611-0957-4bca-a6e9-ad608c865a64\" style=\"\" rel=\"noopener\">Financial 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\/2024\/5\/2503.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We take a look at the cybersecurity threats facing Egypt and the region as a whole \u2014 as well as what can be done to address our digital fragilities.<\/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\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"656419 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=\"656419\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/656419\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656419\" class=\"content-area-description single-story post-656419 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1544.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Somabay<\/span><span style=\"\">, <\/span><span>every reason to fall in love.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"656420\" 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=\"656420\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/united-banks-retail-tranche-59x-oversubscribed-as-subscription-period-closes\/\">\r\n                            United Bank\u2019s retail tranche 59x oversubscribed as subscription period closes                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/united-banks-retail-tranche-59x-oversubscribed-as-subscription-period-closes\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/535.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"656421\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/united-banks-retail-tranche-59x-oversubscribed-as-subscription-period-closes\/535-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/535.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"535.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/535.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/535.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656420\" class=\"content-area-description single-story post-656420 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-egx tag-enterpriseam tag-ipo-watch tag-united-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.89b6fd0b-41f4-4fc3-ac6d-0ca1046889be.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>United Bank has concluded its retail and private offerings ahead of the <\/strong><strong>company being traded on the EGX<\/strong>, with its retail offering that closed yesterday being oversubscribed 59x, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/304.png\" style=\"\" rel=\"noopener\">data (pdf)<\/a> from the EGX. The tranche offered up 16.5 mn shares \u2014 equivalent to 5% of the total offering \u2014 at<font face=\"Arial\">&nbsp;EGP<\/font> 13.85 a pop.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bank\u2019s private placement was also a hit with 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>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The much-anticipated IPO saw the CBE-owned United Bank <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8d79ff05-21fa-44eb-9911-9f2eeb114ae7\/egypt%e2%80%99s-united-bank-announces-intention-to-float\" style=\"\" rel=\"noopener\">offer a 30% stake<\/a> \u2014 equivalent to 330 mn shares \u2014 at a share price of EGP 13.85 each, with the offering <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/38db17b7-af7c-4d40-8611-84b647bdd0bb\/united-bank-to-raise-egp-4.6-bn-from-ipo-under-final-share-price\" style=\"\" rel=\"noopener\">expected to raise<\/a> some EGP 4.6 bn. This is the second IPO to hit the EGX this year, following Act Financial\u2019s debut in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4d5c99b6-2d0a-4923-9bbc-6dc4ef74f1cc\/the-retail-tranche-of-act-financial%e2%80%99s-ipo-was-54.8x-oversubscribed\" style=\"\" rel=\"noopener\">July<\/a>, and marks another feather in the government\u2019s privatization program cap.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>CI Capital was the sole global coordinator and bookrunner for the offering, while Helmy, Hamza &amp; Partners \u2014 Baker McKenzie\u2019s Cairo office \u2014 acted as counsel. Baker Tilly was the offering\u2019s independent financial advisor and Ernst &amp; Young (EY) the auditor.<\/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\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/united-bank\/\">United Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    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class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/egypts-non-oil-private-sector-activity-contracts-at-slowest-pace-in-three-months\/\">\r\n                            Egypt\u2019s non-oil private sector activity contracts at slowest pace in three months                        <\/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=\"370.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/370.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/370.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656423\" class=\"content-area-description single-story post-656423 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-pmi tag-sp 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\/.a8356b6d-95d8-49c5-bcad-952fe4fa6a6c.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The non-oil<\/strong> <strong>private sector is still contracting, but signs of stabilization are beginning to <\/strong><strong>emerge. <\/strong>Egypt\u2019s non-oil private sector activity contracted for the third consecutive month in November, edging up to 49.2 from <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\">49.0 in October<\/a>, according to S&amp;P Global\u2019s latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/283.pdf\" style=\"\" rel=\"noopener\">Purchasing Managers\u2019 Index (PMI) report (pdf)<\/a>. The reading came as subdued customer demand and weaker new order inflows continued to weigh on business activity \u2014 though contraction eased to its mildest pace in three months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This month\u2019s reading saw the second consecutive month of improvement in PMI <\/strong><strong>numbers<\/strong> and the highest reading since <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/32fe05be-c843-4ccd-9e99-d5fb997ce85d\/non-oil-private-sector-activity-grows-after-three-years-in-contraction\" style=\"\" rel=\"noopener\">August<\/a>, when non-oil private sector activity breached the 50.0 mark that separates growth from contraction for the first time in over three years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Input price inflation slowed to a four-month low in November,<\/strong> with rising wages and material costs exerting less pressure than in previous months. A stronger USD continued to drive up costs for imported goods, but overall inflationary pressures softened, moderating the rise in purchase prices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Manufacturing showed tentative signs of recovery<\/strong>, with modest growth in orders boosting output. However, this uptick was offset by continued contraction in construction, wholesale and retail, and services.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Employment fell for the first time in five months<\/strong>, registering the sharpest drop in headcount since February. S&amp;P Global attributed the decline to firms\u2019 hesitancy to replace voluntary leavers due to lower sales volumes and subdued confidence. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While the reading suggests that business conditions are edging closer to stabilization,<\/strong><strong> firms reported one of the lowest levels of confidence seen in the survey\u2019s history.<\/strong> Commenting on Egypt\u2019s future outlook, senior economist at S&amp;P Global Market Intelligence David Owen noted that \u201creductions in purchasing activity and employment hint that firms are not expecting capacity levels to be challenged too much in the months ahead.\u201d<\/p>\n<p class=\"tag-border-left\">ELSEWHERE IN THE REGION-<\/p>\n<ul>\n<li>Saudi Arabia\u2019s PMI rose to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/338.pdf\" style=\"\" rel=\"noopener\">59.0 in November (pdf)<\/a>, up from 56.9 in October and marking the country\u2019s highest reading for 16 months.<\/li>\n<li>Kuwait\u2019s PMI increased to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/339.pdf\" style=\"\" rel=\"noopener\">55.9 in November (pdf)<\/a>, up from 52.7 in October, the second biggest monthly jump since the survey began in the country in September 2018.<\/li>\n<li>Qatar\u2019s PMI inched up to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/337.pdf\" style=\"\" rel=\"noopener\">52.9 in November (pdf)<\/a>, up from 52.8 in October.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pmi\/\">PMI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sp\/\">S&amp;P<\/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=\"656425\" 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=\"656425\">\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\">DIGITALIZATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/banque-misr-concludes-egypts-first-ever-public-sector-online-real-estate-auction-with-belmazad\/\">\r\n                            Banque Misr concludes Egypt\u2019s first ever public sector online real estate auction with Belmazad                        <\/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\/04\/banque-misr-concludes-egypts-first-ever-public-sector-online-real-estate-auction-with-belmazad\/\" target=\"_blank\">\n                    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href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/banque-misr-concludes-egypts-first-ever-public-sector-online-real-estate-auction-with-belmazad\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/364.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"656426\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/banque-misr-concludes-egypts-first-ever-public-sector-online-real-estate-auction-with-belmazad\/364-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/364.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"364.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/364.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/364.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656425\" class=\"content-area-description single-story post-656425 post type-post status-publish format-standard has-post-thumbnail hentry category-digitalization tag-banking tag-banque-misr tag-digitization tag-enterpriseam tag-fintech tag-real-estate 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\/.cc260272-def7-4b88-901b-4d494616fb87.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Going once, going twice, sold:<\/strong> Banque Misr has concluded the country\u2019s first-ever online public sector real estate auction in collaboration with auction platform <a target=\"_blank\" href=\"http:\/\/belmazad.com\" style=\"\" rel=\"noopener\">Belmazad.com<\/a>, selling off a number of the bank\u2019s real estate assets, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/308.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from the state-owned bank. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We thought that something might be in the works:<\/strong> Banque Misr signed a strategic partnership with Belmazad.com back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5d84cfd-2c27-4248-b400-b2a0a28ed615\/beltone-inks-strategic-partnership-with-the-uae%e2%80%99s-comera-to-develop-payment,-financing-products.-plus:-thames-freeport-+-gorilla-technology,-industry-fund,-belmazad,-fawry\" style=\"\" rel=\"noopener\">May<\/a> that saw the bank make what it called a \u201csignificant\u201d investment in the company. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Belmazad?<\/strong> Belmazad.com \u2014 a subsidiary of Tech Mazad \u2014 is a digital real estate auctioning platform that aims to more efficiently and transparently facilitate real estate sales, with the company having auctioned some EGP 3.5 bn worth in assets, Belmazad.com COO and co-founder Omar El Dewey told EnterpriseAM. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How did the auction work?<\/strong> Through Belmazad.com\u2019s digital platform, auction participants were able to view property videos, pictures, and maps, as well as anonymously place bids, Belmazad.com said in a separate statement. The auction also leveraged Banque Misr\u2019s resources by allowing participants to block funds on their accounts rather than send deposits via check or bank transfer, ensuring streamlined refunds and payments. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A fairer playing field:<\/strong> In addition to benefiting from pure anonymity, the digital event introduced safeguards to prevent sniping, with the system automatically extending the auction time if a new bid was placed in the final five minutes. The auction also saw fair prices reached without external interference, Banque Misr\u2019s real estate investments division head Hassan Samir said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new venture is aligned with Egypt\u2019s wider goals:<\/strong> Digital real estate auctions align with the government\u2019s directive to promote digitization as part of Egypt\u2019s Vision 2030 program and is consistent with Banque Misr\u2019s commitment to building a cashless society, the bank\u2019s statement read. The bilingual auctions are also set to promote inclusivity in public auctions, allowing foreign investors to take part in the resale of local assets, El Dewey noted. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>These auctions could be used to sell more public sector assets: <\/strong>Banque Misr and Belmazad.com plan to jointly leverage the platform\u2019s current system and know-how to scale digital auctioning to the national level \u2014 including potentially selling public sector assets in partnership with the government, Belmazad.com co-founder and CEO Mahmoud Farahat told EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More Egyptian banks want to get in on the action:<\/strong> As a primary investor in Belmazad.com, Banque Misr\u2019s collaboration offers a blueprint for further partnerships, with Farahat noting that 90% of major Egyptian banks are looking to implement the company\u2019s digital auctioning services. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>Banque Misr plans to add more of the bank\u2019s own assets and third-party assets entrusted to them on the platform in the coming period, Chief Investment Officer Ahmed Sobhy noted in Banque Misr\u2019s press release. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the long term<\/strong>, the platform aims to expand in Middle Eastern and African markets, with El Dewey noting that the platform could be used for non-real estate assets in the future.<\/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-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/digitization\/\">digitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    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href=\"https:\/\/api.whatsapp.com\/send?text=AfDB+backs+Hassan+Allam+and+ACWA%E2%80%99s+Gulf+of+Suez+mega+windfarm+with+USD+170+mn+loan+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F12%2F04%2Fafdb-backs-hassan-allam-and-acwas-gulf-of-suez-mega-windfarm-with-usd-170-mn-loan%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\/04\/afdb-backs-hassan-allam-and-acwas-gulf-of-suez-mega-windfarm-with-usd-170-mn-loan\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/362.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"656428\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/afdb-backs-hassan-allam-and-acwas-gulf-of-suez-mega-windfarm-with-usd-170-mn-loan\/362-jpg-23\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/362.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"362.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/362.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/362.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656427\" class=\"content-area-description single-story post-656427 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-acwa-power tag-energy tag-enterpriseam tag-renewables tag-windpower 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\/.27c1b781-d761-4f1c-adef-0e8741357cd6.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The soon-to-be largest windfarm in the region gets backing from the AfDB: <\/strong>The African Development Bank (AfDB) has approved a USD 170 mn loan to fund local energy and infrastructure leader Hassan Allam Utilities and Saudi renewables giant ACWA Power\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2853d3da-411c-443c-869a-de7e74e1b45e\" style=\"\" rel=\"noopener\">1.1 GW wind farm<\/a> in the Gulf of Suez \u2014 set to be the largest of its kind in the Middle East \u2014 according to a <a target=\"_blank\" href=\"https:\/\/www.afdb.org\/en\/news-and-events\/press-releases\/egypt-african-development-bank-approves-170-million-egypts-largest-wind-energy-project-79180\" style=\"\" rel=\"noopener\">statement<\/a> from AfDB. The loan would fund 16.0% of the entire USD 1.1 bn project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We should also soon hear an update on a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5724322f-73a4-4a47-a93b-9501e054971b\/ebrd-mulling-usd-200-mn-loan-for-hassan-allam-utilities-and-acwa-power%25e2%2580%2599s-1.1-gw%253cmark%253e-gulf-of-suez%253c%2Fmark%253e-wind-farm\" style=\"\" rel=\"noopener\">USD 200 mn loan<\/a><\/strong><strong> from the European Bank for <\/strong><strong>Reconstruction and Development for the project<\/strong>, which has passed its final review and is only pending approval, according to a <a target=\"_blank\" href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/55457.html\" style=\"\" rel=\"noopener\">project summary<\/a> from the lender.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All in all, the two companies are reportedly set to secure close to USD 900 mn in<\/strong><strong> financing by the end of the year<\/strong> for their 1.1 GW wind farm in Gulf of Suez, a source with knowledge of the matter <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a627ddcc-5e87-4c76-a1e0-33b30fea09f8\/acwa-power,-hassan-allam-plan-to-secure-close-to-usd-900-mn-for-their-mega-gulf-of-suez-wind-farm-by-year-end\" style=\"\" rel=\"noopener\">told EnterpriseAM<\/a> in September. It's unknown whether the AfDB and EBRD loans were part of the count.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When operational, the project will be a big boost to our energy production and green<\/strong><strong> transition targets<\/strong>, with the project set to offset 2.2 mn tons of carbon dioxide annually and produce enough power for nearly 1.1 mn households. The wind farm\u2019s 1.1 GW capacity will mark it as the largest wind project in both Africa and the Middle East.<\/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\/acwa-power\/\">ACWA Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/windpower\/\">windpower<\/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=\"656429\" 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=\"656429\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/house-pushes-criminal-procedures-law-vote-approves-host-of-energy-exploration-bills-and-more-in-packed-session\/\">\r\n                            House pushes Criminal Procedures Law vote, approves host of energy exploration bills, and more in packed session                        <\/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\/04\/house-pushes-criminal-procedures-law-vote-approves-host-of-energy-exploration-bills-and-more-in-packed-session\/\" 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               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approves host of energy exploration bills, and more in packed session&url=https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/house-pushes-criminal-procedures-law-vote-approves-host-of-energy-exploration-bills-and-more-in-packed-session\/\">\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\/04\/house-pushes-criminal-procedures-law-vote-approves-host-of-energy-exploration-bills-and-more-in-packed-session\/&title=House pushes Criminal Procedures Law vote, approves host of energy exploration bills, and more in packed session\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=House+pushes+Criminal+Procedures+Law+vote%2C+approves+host+of+energy+exploration+bills%2C+and+more+in+packed+session+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F12%2F04%2Fhouse-pushes-criminal-procedures-law-vote-approves-host-of-energy-exploration-bills-and-more-in-packed-session%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\/04\/house-pushes-criminal-procedures-law-vote-approves-host-of-energy-exploration-bills-and-more-in-packed-session\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/711.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"656430\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/house-pushes-criminal-procedures-law-vote-approves-host-of-energy-exploration-bills-and-more-in-packed-session\/711-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/711.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"711.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/711.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/711.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656429\" class=\"content-area-description single-story post-656429 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-energy tag-enterpriseam tag-house-of-representatives tag-legislation-watch tag-subsidies 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\/.057f128b-c570-47a5-a751-5616636caab5.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The House wrapped up a three-day session with a host of agreements and legislative<\/strong><strong> measures approved<\/strong>, and will now take a two-week break before reconvening on 15 December.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Discussion on the newly amended Criminal Procedures Law will stretch into a<\/strong><strong> fourth week<\/strong> to get more input from different political actors and entities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- MPs approved 22 of the 44 articles in the draft cash-based subsidies bill<\/strong> to 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>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The House gave its final nod to five energy exploration bills<\/strong> authorizing the Oil Ministry to contract with local and international companies to explore for oil and gas across Egypt:<\/p>\n<ul>\n<li><strong>Over in the Mediterranean<\/strong>, Eni\u2019s IEOC Production will look for oil and gas in the North Port Fouad and South Nour offshore areas. <\/li>\n<li><strong>In the Nile Delta<\/strong>, ZN B.V. Ltd will oversee exploration and production of oil and gas in the North Khatatba area.<\/li>\n<li><strong>Out in the Western Desert<\/strong>, the Egyptian General Petroleum Corporation (EGPC) and Tharwa Petroleum will look for, develop, and produce oil in the Horus Development Area, while EGPC and HBS International Egypt will do the same in the South Dabaa area.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsidies\/\">subsidies<\/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=\"656431\" 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=\"656431\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/tamweel-mortgage-finance-at-lease-close-securitized-bond-issuances\/\">\r\n                            Tamweel Mortgage Finance, AT Lease close securitized bond issuances                        <\/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\/04\/tamweel-mortgage-finance-at-lease-close-securitized-bond-issuances\/\" 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\/04\/tamweel-mortgage-finance-at-lease-close-securitized-bond-issuances\/')\">\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\/04\/tamweel-mortgage-finance-at-lease-close-securitized-bond-issuances\/\">\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=Tamweel Mortgage Finance, AT Lease close securitized bond issuances&url=https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/tamweel-mortgage-finance-at-lease-close-securitized-bond-issuances\/\">\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\/04\/tamweel-mortgage-finance-at-lease-close-securitized-bond-issuances\/&title=Tamweel Mortgage Finance, AT Lease close securitized bond issuances\">\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=Tamweel+Mortgage+Finance%2C+AT+Lease+close+securitized+bond+issuances+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F12%2F04%2Ftamweel-mortgage-finance-at-lease-close-securitized-bond-issuances%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\/04\/tamweel-mortgage-finance-at-lease-close-securitized-bond-issuances\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656431\" class=\"content-area-description single-story post-656431 post type-post status-publish format-standard hentry category-debt-watch tag-alc-alieldean-weshahi-partners tag-at-lease tag-baker-tilly tag-banque-du-caire tag-capital-markets tag-ci-capital tag-debt-watch tag-enterpriseam tag-financial-services tag-islamic-finance tag-leasing 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\/.f89def91-5924-496c-87a4-2781862ddeb7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>After a calm year for securitization, are we starting to see the start of an end-of-year rush <\/strong><strong>to the debt markets? <\/strong>December last year saw EGP 18.6 bn worth of securitized bonds issued in only one month, accounting for 19.3% of the EGP 96.0 bn worth of securitized bonds issued throughout the whole of the year, according to our math \u2014 but we will have to wait and see if something similar will happen this year.<\/p>\n<p class=\"tag-border-left\">TAMWEEL ISSUES ITS FIRST SECURITIZED BONDS OF THE YEAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tamweel secures EGP 1.8 bn in securitization issuance: <\/strong>Tamweel Mortgage Finance has closed an EGP 1.8 bn securitized bond issuance, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/298.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from CI Capital. The issuance \u2014 which is backed by a receivables portfolio of around EGP 3.3 bn according to <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/12\/02\/1849930\" style=\"\" rel=\"noopener\">Al Borsa<\/a> \u2014 is the first in a new EGP 5 bn program, which will be parent company Tamweel Holding\u2019s second multi-issuance securitization program.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The issuance was divided into five tranches, with tenors ranging from 24-75 months and ratings of AA+, AA, AA-, A, and A- ratings from Middle East Rating and Investors Service (MERIS).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The issuance got plenty of traction:<\/strong> The new issuance received a subscription coverage more than double the value of the issuance, Tamweel Holding Managing Director Mohamed El Kahky told Al Borsa. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The buyers:<\/strong> CIB, the National Bank of Egypt, Banque du Caire, and the Arab African International Bank acted as the issuances underwriters. The banks also subscribed to the issuance along with SAIB Bank.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>CIB, Al Ahly Pharos, and CI Capital arranged, managed and promoted the issuance. CIB served as the custodian, Banque du Caire was the subscription agent, Dreny &amp; Partners provided legal counsel, and Baker Tilly served as the auditor.<\/p>\n<p class=\"tag-border-left\">AT LEASE CLOSES ITS FIFTH SECURITIZATION ISSUANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Islamic leasing outfit AT Lease has successfully closed a EGP 1.5 bn securitized bond <\/strong><strong>issuance<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/279.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> Monday. The company\u2019s fifth-ever issuance is secured by a portfolio of future financial receivables from leasing contracts assigned by the firm. AT Lease aims to utilize the proceeds from the issuance to \u201cstrengthen the company\u2019s financial position, maximize profitability and returns on equity, and support future growth plans,\u201d the company said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong>The issuance was divided into three tranches, with tenors ranging from 25-48 months and ratings of AA+, AA, and A from Meris.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The buyers:<\/strong> CIB, NBE, Banque du Caire, and AAIB acted as the issuance\u2019s underwriters along with Al Ahly Pharos. CIB, the National Bank of Egypt, the Arab African International Bank (AAIB), Banque du Caire, and EBank were among those who subscribed to the issuance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> Al Ahly Pharos, CI Capital, and CIB acted as issuance managers, financial advisors, arrangers, and promoters. NBE served as the subscription agent, while Banque Misr was the custodian. ALC Alieldean Weshahi &amp; Partners provided legal counsel and Baker Tilly was the auditor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA <\/strong><strong>POINT- <\/strong>The two transactions bring the total value of securitized bonds issued in Egypt this year to more than EGP 32.9 bn, 45.7% less than that was raised in the same period in 2023, according to data tracked by EnterpriseAM.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alc-alieldean-weshahi-partners\/\">ALC Alieldean Weshahi &amp; Partners<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/at-lease\/\">AT Lease<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/baker-tilly\/\">Baker Tilly<\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/islamic-finance\/\">Islamic finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/leasing\/\">leasing<\/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=\"656432 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=\"656432\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/656432\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656432\" class=\"content-area-description single-story post-656432 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=\"656433\" 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=\"656433\">\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\/04\/trumps-threat-to-bring-hell-to-the-region-continued-to-command-the-airwaves\/\">\r\n                            Trump\u2019s threat to bring \u201chell\u201d to the region continued to command the airwaves                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/trumps-threat-to-bring-hell-to-the-region-continued-to-command-the-airwaves\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/trumps-threat-to-bring-hell-to-the-region-continued-to-command-the-airwaves\/')\">\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\/04\/trumps-threat-to-bring-hell-to-the-region-continued-to-command-the-airwaves\/\">\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=Trump\u2019s threat to bring \u201chell\u201d to the region continued to command the airwaves&url=https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/trumps-threat-to-bring-hell-to-the-region-continued-to-command-the-airwaves\/\">\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\/04\/trumps-threat-to-bring-hell-to-the-region-continued-to-command-the-airwaves\/&title=Trump\u2019s threat to bring \u201chell\u201d to the region continued to command the airwaves\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Trump%E2%80%99s+threat+to+bring+%E2%80%9Chell%E2%80%9D+to+the+region+continued+to+command+the+airwaves+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F12%2F04%2Ftrumps-threat-to-bring-hell-to-the-region-continued-to-command-the-airwaves%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/trumps-threat-to-bring-hell-to-the-region-continued-to-command-the-airwaves\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/373.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"656434\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/trumps-threat-to-bring-hell-to-the-region-continued-to-command-the-airwaves\/373-jpg-34\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/373.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"373.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/373.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/373.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656433\" class=\"content-area-description single-story post-656433 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-gaza tag-last-nights-talk-shows tag-middle-east-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.c5e2cb47-de4d-41f7-9db5-8154238bc12a.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>nation\u2019s talking heads continued dissecting US president-elect Donald Trump\u2019s<\/strong><strong> warning that the region would face \u201chell\u201d <\/strong>unless the hostages in Gaza were released.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cTrump\u2019s statements have crossed every line imaginable. <\/strong>I thought that as he approached the White House, he\u2019d be more rational and stop with these falsehoods and accusations,\u201d political thinker Mostafa El Feki told Sherif Amer (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=588602433746898\" style=\"\" rel=\"noopener\">watch, runtime 2:37<\/a>). \u201cThis is Trump signaling he\u2019ll bring harsher policies to the region. He and Netanyahu are two sides of the same coin,\u201d he said, adding, \u201cWhat worse could Palestinians possibly face?\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ahmed Moussa delivered a scathing critique of Trump on Ala Mas\u2019ouleety<\/strong>, asking his viewers, \u201cDoes the president-elect not see the genocide against Palestinians in Gaza? Does he or other world leaders have any humanity?\u201d (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=vJGJzR9e9pQ\" style=\"\" rel=\"noopener\">watch, runtime 3:09<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"656435\" 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=\"656435\">\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\/04\/holding-company-for-roads-and-bridges-looks-to-secure-usd-500-mn-worth-of-iraqi-rail-projects-plus-mermec-fawry-amoun-atlas-ebrd-cib\/\">\r\n                            Holding Company for Roads and Bridges looks to secure USD 500 mn worth of Iraqi rail projects. PLUS: Mermec, Fawry, Amoun + Atlas, EBRD + CIB                        <\/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\/04\/holding-company-for-roads-and-bridges-looks-to-secure-usd-500-mn-worth-of-iraqi-rail-projects-plus-mermec-fawry-amoun-atlas-ebrd-cib\/\" 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\/04\/holding-company-for-roads-and-bridges-looks-to-secure-usd-500-mn-worth-of-iraqi-rail-projects-plus-mermec-fawry-amoun-atlas-ebrd-cib\/')\">\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\/04\/holding-company-for-roads-and-bridges-looks-to-secure-usd-500-mn-worth-of-iraqi-rail-projects-plus-mermec-fawry-amoun-atlas-ebrd-cib\/\">\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=Holding Company for Roads and Bridges looks to secure USD 500 mn worth of Iraqi rail projects. 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data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1140.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1140.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656435\" class=\"content-area-description single-story post-656435 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-automotive tag-cib tag-construction tag-debt tag-diplomacy tag-ebrd tag-economy tag-egypt-iraq-relations tag-egypt-sudan-relations tag-enterpriseam tag-financial-services tag-fintech tag-infrastructure tag-ipo-watch tag-iraq tag-ma-watch tag-manufacturing tag-real-estate tag-saudi-arabia tag-smes tag-transport 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\/.83ed140c-80ac-4d18-b213-33351aeff04c.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">LOCOMOTIVE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- Egypt eyes USD 500 mn in railway projects in Iraq:<\/strong> State-owned Holding Company for Roads and Bridges is looking to secure USD 500 mn worth of railway projects with the Iraqi government as a part of Iraq\u2019s plan to spend USD 100 bn on infrastructure over three years, two unnamed sources tell <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/economics\/62542\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%AA%D9%81%D8%A7%D9%88%D8%B6-%D8%B9%D9%84%D9%89-%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D8%A7%D8%AA-%D8%B3%D9%83%D9%83-%D8%AD%D8%AF%D9%8A%D8%AF%D9%8A%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82\/?utm_source=facebook&amp;utm_medium=social&amp;utm_campaign=%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF-%D8%A7%D9%84%D8%B4%D8%B1%D9%82---%D9%85%D8%B5%D8%B1\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The company has submitted technical and financial proposals for the projects, with negotiations ongoing and a final agreement expected by March 2025. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Iraq has been emerging as a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e95a939-7f25-45dc-b1d1-3198c176d6a2\/local-construction-firms-are-expanding-abroad-%25e2%2580%2594-where-are-they-expanding-to-and-what-obstacles-are-they-facing%3F\" style=\"\" rel=\"noopener\">prime destination<\/a> for infrastructure investment of late, with a delegation from the Contractors Union visiting Baghdad <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e00fcdb-da81-4a99-a850-299759b8e681\/imf-boss-is-in-town-for-talks-with-el-sisi,-madbouly,-abdalla\" style=\"\" rel=\"noopener\">last month<\/a> to check out construction sector investment opportunities at the Iraq Investment Forum. A number of local players have made plans to enter the country, with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ba445512-9edb-4fab-88bc-ccad936ae7ff\" style=\"\" rel=\"noopener\">Talaat Moustafa Group<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4f8ba478-25f9-400d-b7cc-3a9a9929200f\/japan%25e2%2580%2599s-yazaki-kicks-off-construction-of-auto-parts-factory.-plus:-news-from%253cmark%253e-ora%253c%2Fmark%253e-developers,-bosta,-taqa-volt.\" style=\"\" rel=\"noopener\">Ora Developers<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e1594d9b-62a9-474e-aded-4c3576ba3ac3\/tag-oil-is-raising-usd-7.2-mn-to-fund-activities-in-egypt.-plus:-news-from-knauf,-oppo,-elsewedy\" style=\"\" rel=\"noopener\">Elsewedy Electric<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/04d3b562-2468-4af7-b51e-10d351979ab8\/algammal-for-contracting-to-set-up-three-industrial-complexes-in-saudi-arabia,-libya,-and%253cmark%253e-iraq%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">Algammal for Contracting<\/a> among those getting ready to penetrate the Iraqi market.<\/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- Italy\u2019s Mermec could embark on a railway signalling and control systems factory: <\/strong>Transport and Industry Minister Kamel El Wazir called on <a target=\"_blank\" href=\"https:\/\/www.mermecgroup.com\/\" style=\"\" rel=\"noopener\">Mermec<\/a> to establish a factory to localize the production of signalling and control systems for railways, according to a ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MinistryTransportation\/posts\/pfbid0nonh18mzkaPndwnFoXQ6Daj1A3Udrw8nYv5ERjmxrcf4V86KGCqcay6xMUGxH8LCl\" style=\"\" rel=\"noopener\">statement<\/a>. The project aims to enhance railway safety and reduce the reliance on imported components, and eventually make Egypt a regional hub for railway parts and components.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re also getting new sleeper trains:<\/strong> The Egyptian National Railways also finalized an agreement with Spain\u2019s high-speed train manufacturer <a target=\"_blank\" href=\"https:\/\/www.talgo.com\/en\/\" style=\"\" rel=\"noopener\">Talgo<\/a> to supply seven new luxury sleeper trains, following the recent delivery of six similar models. A EUR 200 mn loan to import sleeper trains from the company was given the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/12bb40c7-b696-492a-855d-6dadcc6571bd\/malaysia%25e2%2580%2599s-proton-to-start-producing-locally-made-autos-in-early-2025.-plus:%253cmark%253e-talgo%253c%2Fmark%253e,-aton-%2B-ankh-%2B-centamin,-ifc-%2B-tanmiya-capital-ventures,-fujifilm\" style=\"\" rel=\"noopener\">presidential thumbs up<\/a> in August after being <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/addb64ff-46a6-4f10-a714-f307587309b9\/mps-vote-on-state-budget-today\" style=\"\" rel=\"noopener\">passed<\/a> by the House in June.<\/p><p class=\"tag-border-left\">FINANCIAL SERVICES-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fawry MSME facilitated some EGP 2 bn in payments:<\/strong> Fawry\u2019s SME-focused subsidiary <a target=\"_blank\" href=\"https:\/\/fawryfinance.com\/en\/home\/\" style=\"\" rel=\"noopener\">Fawry MSME<\/a> has facilitated over EGP 2 bn in loan transactions over 750k transactions with its buy now, pay later overdraft feature \u2014 dubbed <a target=\"_blank\" href=\"https:\/\/fawryfinance.com\/en\/products-overdraft\/\" style=\"\" rel=\"noopener\">Al Nota<\/a> \u2014 since the beginning of the year, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/312.pdf\" style=\"\" rel=\"noopener\">press release<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/312.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. Al Nota offers merchants a digital limit that can be used to finance working capital needs, \u201ctransforming bill payments and B2B transactions into short-term loans with maturities ranging from 3 to 15 days,\u201d according to the statement.<\/p><p class=\"tag-border-left\">ECONOMY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">K<strong>uwait renewed a USD 2 bn Central Bank of Egypt deposit certificate<\/strong> due for repayment in April for another year, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/320.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a> from the central bank. The report, which shows the status of bank deposits through June 2024, does not clarify whether Kuwait\u2019s other USD 2 bn tranche due for repayment in September was renewed or repaid.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Total long-term deposits fell to USD 9.3 bn<\/strong>, down from the USD 14.9 bn recorded at the end of June 2023 due to the UAE converting its deposits to help fund its Ras El Hekma mega project.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong>Unconfirmed reports in October suggested that the Gulf nation was mulling <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfd36e99-780f-4a23-9cb2-7f79d9b55a64\/what-does-the-imf-slashing-surcharges-mean-for-egypt%3F\" style=\"\" rel=\"noopener\">converting its USD 4 bn in deposits<\/a> with the central bank into direct investments. The news followed Saudi Investment Minister Khalid Al Falih telling Prime Minister Moustafa Madbouly in August that the kingdom was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cd9d20a4-66f5-4c38-8d87-5d14990d600c\/saudi-arabia-to-use-cbe-deposits-to-fuel-egypt-investments\" style=\"\" rel=\"noopener\">looking to convert<\/a> some of its USD 5.3 bn worth of deposits at the CBE into investments.<\/p><p class=\"tag-border-left\">M&amp;A-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Amoun for Real Estate and Tourism Development acquired a 30.7% stake in Atlas For <\/strong><strong>Investment and Food Industries<\/strong>, purchasing 199.9 mn shares for EGP 155.9 mn at an average price of EGP 0.78 per share, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/332.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The Financial Regulatory Authority had <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#:~:text=1%2D%20Atlas%20shareholders%20now%20have%20until%2026%20November%20to\" style=\"\" rel=\"noopener\">previously extended<\/a> the offer period to facilitate Amon\u2019s bid for up to 65.59% of Atlas\u2019s capital.<\/p><p class=\"tag-border-left\">DIPLOMACY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign Minister Badr Abdelatty was in Port Sudan yesterday<\/strong>, becoming the first Egyptian foreign minister to visit the country since the civil war began in April 2023, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/896401329336381?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a> from the ministry. Abdelatty met with Sudan\u2019s de-facto ruler Abdel Fattah Al Burhan and his Sudanese counterpart and reiterated calls for an immediate ceasefire, the ramping up of humanitarian aid, and safeguarding of shared water resources.<\/p><p class=\"tag-border-left\">EXPANSION-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All roads lead to Riyadh:<\/strong> Five unnamed Egyptian engineering firms plan to establish factories in Saudi Arabia with total investments worth around SAR 500 mn, head of the Egyptian-Saudi Business Council\u2019s industry committee, Mohamed Genedy, told <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4375772\/%D8%AE%D8%A7%D8%B5-%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D8%AE%D8%B7%D8%B7-%D9%84%D8%B6%D8%AE-%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A8%D9%82%D9%8A%D9%85%D8%A9-500-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%B1%D9%8A%D8%A7%D9%84-%D9%81%D9%8A-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">Mubasher<\/a>. The companies aim to use the investments to strengthen their presence in Gulf export markets <\/p><p class=\"tag-border-left\"> DEBT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EBRD greenlights EUR 50 mn risk-sharing agreement with CIB for SME on-lending: <\/strong>The European Bank for Reconstruction and Development (EBRD) has given final approval for a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e361d58a-9b3b-4d01-8e73-30205cf75788\/saudi-egyptian-developers-secures-egp-4.4-bn-from-eight-banks#:~:text=EBRD%20to%20help%20CIB%20boost%20SME%20lending%3A%20The%20European%20Bank\" style=\"\" rel=\"noopener\">risk-sharing facility<\/a> with CIB to support SME lending in Egypt, CIB said in a <a target=\"_blank\" href=\"https:\/\/www.cibeg.com\/ar\/newsroom\/news\/12-3-2024-cibxebrd\" style=\"\" rel=\"noopener\">statement<\/a>. The EBRD will guarantee 50% of a EUR 50 mn loan portfolio, allowing CIB to expand its lending capacity to underserved SMEs over the next five years.<\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-iraq-relations\/\">Egypt-Iraq relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-sudan-relations\/\">Egypt-Sudan relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iraq\/\">Iraq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/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=\"656437\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"656437\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/rate-cuts-ahead-but-not-necessarily-in-december\/\">\r\n                            Rate cuts ahead, but not necessarily in December                        <\/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\/04\/rate-cuts-ahead-but-not-necessarily-in-december\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n               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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/04\/rate-cuts-ahead-but-not-necessarily-in-december\/565-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/565.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"565.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/565.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/565.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656437\" class=\"content-area-description single-story post-656437 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-federal-reserve tag-interest-rates 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\/.a4bd2441-e3f1-4b29-a89b-073cbbba89a1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Rate cuts are coming, but it might not be this month:<\/strong> The US Federal Reserve is expected to continue cutting interest rates in 2025 despite no firm expectations about the next cut taking place this month, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-02\/fed-s-waller-says-he-s-leaning-toward-rate-cut-in-december?srnd=phx-markets\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing three unnamed Fed officials. The final decision will be made at a meeting on 17-18 December.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It all depends on the data:<\/strong> There is support for a cut in December, but the decision will depend on whether upcoming data \u2014 including for the labor market \u2014 alters the \u201cforecast for the path of inflation,\u201d Fed Governor Christopher Waller said. New York and Atlanta Fed presidents shared this view, emphasizing that the inflation data will be the deciding factor as \u201cthe outlook remains highly uncertain.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Service sector inflation remains a concern:<\/strong> The personal consumption expenditures price index, excluding food and energy, increased by 2.8% for the 12 months ending in October, leading some investors to expect delays in the cutting cycle.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> Analysts have been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9cbc285a-9a6c-4a6e-96c6-13d332b58c08\/expect-rate-cuts-around-the-world-following-this-week%25e2%2580%2599s%253cmark%253e-us%253c%2Fmark%253e-presidential-elections\" style=\"\" rel=\"noopener\">anticipating interest rate cuts<\/a> since the US elections wrapped last month, though the Fed has signaled that its rate cut cycle may play out slower than initially forecasted. Analysts also expect new policies from president-elect Donald Trump to drive up inflation and potentially slow down the monetary easing cycle further. The expected cuts would come just two months after the Fed\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8dc5d145-feeb-4c95-9f82-defa30fb5838\/fed-kicks-off-easing-cycle-with-a-bang\" style=\"\" rel=\"noopener\">50 bps rate cut in September<\/a> \u2014 its first in over four years.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A change to the Fed\u2019s inflation policy is needed, officials say:<\/strong> Flexible average inflation policy will be reviewed in the Fed\u2019s next framework evaluation in January. This review will look into the current framework, which allows inflation to run slightly above the target, and which Waller said was backward looking and designed before inflation began to rise.<\/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 in the red as investors digest the events in South Korea<\/strong>, with the country\u2019s Kospi index down more than 2%, and South Korean stocks in the US seeing intense volatility. Over on Wall Street, futures are flat after the S&amp;P 500 and Nasdaq closed at record highs. <\/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\">30,629<\/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: +23.0%)<\/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 49.67<\/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 49.81<\/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 49.69<\/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 49.79<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,816<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: -1.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">6050<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +26.8%)<\/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\">8359<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +8.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4879<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +7.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 73.62<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 3.05<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,666.20<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 95,740.50<\/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: +127.0%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 0.3% at today\u2019s close<\/strong> on turnover of EGP 4.5 bn (7.5% above the 90-day average). Foreign investors were the sole net buyers. The index is up 23.0% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Edita (+3.9%), B Investments Holding (+1.9%) and Ezz Steel (+1.8%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Palm Hills Development (-3.6%), Juhayna (-2.4%), and Alexandria Containers and Cargo Handling (-2.3%).<\/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\/federal-reserve\/\">Federal Reserve<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"656439\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">11<\/div>\r\n    \r\n                        <p class=\"f-graphik\">HARDHAT<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/the-cyber-threats-facing-egypt-and-how-to-address-them\/\"> \r\n                            The cyber threats facing Egypt and how to address them<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/the-cyber-threats-facing-egypt-and-how-to-address-them\/\" 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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While Egypt has made notable progress in its cybersecurity efforts \u2014 scoring full marks across all five pillars in the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1220.pdf\" style=\"\" rel=\"noopener\">International Telecommunication Union\u2019s 2024 Global Cybersecurity Index (pdf)<\/a> \u2014 the rapid pace of digital transformation continues to expose critical vulnerabilities. From hacking vital infrastructure to safeguarding personal and institutional data, the risks are growing as Egypt\u2019s digital ecosystem expands.<\/p>\n<p class=\"tag-border-left\">THE RISKS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Egypt\u2019s vital systems are squarely in hackers\u2019 sights<\/strong>, with power grids, banking networks, transportation, and government operations facing relentless threats, Hagag told us. A breach in any of these systems could trigger massive disruptions or expose highly sensitive data. Phishing scams are also on the rise, with cybercriminals fine-tuning fraudulent emails and messages to siphon personal and financial information. Meanwhile, ransomware continues to paralyze systems and wipe out critical data, leaving both organizations and governments scrambling to recover.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>The explosion of IoT devices adds another layer of risk:<\/strong> Poorly secured internet-connected devices are becoming gateways for hackers to infiltrate larger networks, Hagag noted. State-sponsored cyberattacks are also escalating, targeting national infrastructure and corporations with espionage-driven precision that challenges even the most advanced defenses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>AI is rewriting the rules of cyber warfare<\/strong>: According to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/capgemini\/\" style=\"\" rel=\"noopener\">Capgemini<\/a> online event attended by EnterpriseAM, cybercriminals are currently leveraging AI to supercharge their attacks, from high-fidelity deep fakes and social engineering scams to data-targeted strikes like AI worms and prompt injections. These sophisticated tools thrive on an expanding attack surface fueled by remote work, cloud adoption, and operational tech, making breaches more frequent than ever.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>The scale of the threat is stark:<\/strong> Egypt has emerged as a key target for cybercriminals in 1H 2024, with 22 databases leaked on the dark web, including 16 corporate breaches, according to Russian cybersecurity firm Kaspersky\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/2559.pdf\" style=\"\" rel=\"noopener\">Middle East cybersecurity threat assessment (pdf)<\/a>. Over 3.8 mn records, nearly 2 mn linked to government accounts, were exposed. During the first half of the year, dark web marketplaces featured 38 unique ads globally for initial access to corporate networks, with Egypt contributing eight posts and five unique ads targeting industries such as government, healthcare, IT, and financial services.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Ransomware attacks hit Egypt hard in 1H 2024<\/strong>, with six incidents primarily targeting government entities \u2014 a hallmark of financially driven hackers zeroing in on high-value victims. While revenue and industry potential often dictate their targets, geopolitical tensions have also shaped their focus. Construction firms and business service providers joined government bodies as the top sectors under siege in the region, underscoring the calculated nature of these attacks.<\/p>\n<p class=\"tag-border-left\">THE RESPONSE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Egypt is stepping up its fight against rising cyber threats with a multi-layered approach<\/strong> <strong>that blends technology, education, and collaboration<\/strong>, according to Hagag. Public awareness campaigns and professional training programs are central to this strategy, equipping individuals and organizations with the tools to identify and counter cyberattacks. At the same time, investments in advanced technologies like artificial intelligence, blockchain, and encryption are bolstering Egypt\u2019s ability to detect and neutralize threats before they escalate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>The Madbouly government is on the case: <\/strong>The new cabinet announced back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c486049b-4a91-4d76-8fb0-1f369634a5d3\/more-on-the-new-cabinet%25e2%2580%2599s-goals-for-real-estate,-healthcare,-and-communications-infrastructure\" style=\"\" rel=\"noopener\">July<\/a> that it would be looking to roll out new legal and regulatory frameworks to promote cybersecurity and combat cybercrimes while putting in place plans to hedge against cyberattacks. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>We can deploy AI to ward off cybercriminals:<\/strong> AI is strengthening defenses by improving threat detection, supporting investigations with vast data analysis, and enabling automated responses to incidents, Capgemini global cybersecurity lead Marco Pereira said. As organizations prepare for the future, generative AI has emerged as a top priority for 2025, underlining its potential to stay ahead of evolving threats while reshaping how businesses defend themselves in the digital age.<\/p>\n<p class=\"tag-border-left\">LEGISLATION IS PLAYING CATCH UP-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>More needs to be done on the legislative front:<\/strong> While Egypt\u2019s 2020 Personal Data Protection Act laid a foundation for safeguarding personal data, updates are urgently needed to keep pace with evolving technology and impose tougher penalties on cybercriminals, according to Hagag. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>International cooperation is also on the cards: <\/strong>With cyber threats increasingly crossing borders, stronger international cooperation is critical to effectively combat cross-border attacks and protect Egypt\u2019s digital landscape, Hagag added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>The private sector is central to the strategy<\/strong>, with the government promoting investment in cybersecurity and incubators for startups. Large companies are also being urged to enhance data protection to safeguard against growing cyber risks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>More AI legislation is also on its way: <\/strong>The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/18eb5b40-7fc3-480b-affa-8517cd400d91\/round-two-of-the-national%253cmark%253e-artificial-intelligence%253c%2Fmark%253e-strategy-incoming\" style=\"\" rel=\"noopener\">second phase<\/a> of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/849c8621-b682-45af-b441-d6a52f66d549\/how-the-gov%25e2%2580%2599t-plans-to-grow-the-ai-sector:-a-sitdown-with-comms-ministry-ai-advisor,%253cmark%253e-sally%253c%2Fmark%253e%253cmark%253e-radwan%253c%2Fmark%253e.-%2528part-i%2529\" style=\"\" rel=\"noopener\">National Artificial<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/849c8621-b682-45af-b441-d6a52f66d549\/how-the-gov%25e2%2580%2599t-plans-to-grow-the-ai-sector:-a-sitdown-with-comms-ministry-ai-advisor,%253cmark%253e-sally%253c%2Fmark%253e%253cmark%253e-radwan%253c%2Fmark%253e.-%2528part-i%2529\" style=\"\" rel=\"noopener\">Intelligence<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/849c8621-b682-45af-b441-d6a52f66d549\/how-the-gov%25e2%2580%2599t-plans-to-grow-the-ai-sector:-a-sitdown-with-comms-ministry-ai-advisor,%253cmark%253e-sally%253c%2Fmark%253e%253cmark%253e-radwan%253c%2Fmark%253e.-%2528part-i%2529\" style=\"\" rel=\"noopener\">Strategy<\/a> is set to kick off soon, CIT Minister Amr Talaat said last month.<\/p>\n<p class=\"tag-border-left\">THE TALENT GAP-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>A shortage of skilled cybersecurity professionals remains a significant challenge for <\/strong><strong>Egypt<\/strong>, Hagag highlighted. Addressing this gap requires expanding higher education programs to include specialized courses in cybersecurity, networking, and computer science. In addition, Haggag emphasized the importance of training initiatives that offer globally recognized certifications, such as CISSP, CEH, and CompTIA Security+, to equip professionals with the expertise needed to strengthen the country\u2019s cybersecurity workforce.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>While there\u2019s a need for skilled cybersecurity professionals in Egypt, new initiatives are <\/strong><strong>emerging to close the gap<\/strong>. The Export Development Bank, in collaboration with the Central Bank of Egypt\u2019s Egyptian Banking Institute, has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac596bca-6a73-4796-8b32-906b4c1fd03c\/beltone-brought-together-400-students-for-its-first-ai-hackathon#:~:text=EBank%20launches%20InfoSec%20Academy%20for%20IT%20grads%3A%20EBank%2C%20in\" style=\"\" rel=\"noopener\">launched the Information Security Academy<\/a> to train IT graduates in cybersecurity, addressing a critical need for expertise in protecting the nation\u2019s digital infrastructure. Similarly, the American University in Cairo has introduced a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4d2aa01f-3d62-487f-8fdc-38a2458d24ba\/2024-higher-education-rankings-show-egyptian-universities-steadily-creeping-up-the-list#:~:text=The%20American%20University%20in%20Cairo%20launched%20a%20new\" style=\"\" rel=\"noopener\">cybersecurity major<\/a> to prepare students for the growing demand in the job market for professionals capable of countering sophisticated cyber threats.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Efforts to build talent are also expanding through innovative platforms: <\/strong>Edtech company EYouth rolled out the EGP 2 bn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e357004-8015-4344-ba45-46118ea47d44\/astrazeneca-to-nearly-double-local-pill-production-by-2028-as-part-of-usd-50-mn-plan.-plus:-baic-group,-fiat-%2B-dynamic-distribution,-capricorn,-jaz-hotel-group,-ferrum-egypt,%253cmark%253e-nextera%253c%2Fmark%253e,-makanak,-melee,-city-lab#:~:text=NextEra%3F%20NextEra%20was%20launched%20last%20week%20as%20an%20EGP%202%20bn\" style=\"\" rel=\"noopener\">NextEra Education<\/a>, offering AI-powered, globally accredited programs in cybersecurity, programming, and data science through partnerships with international universities. On the corporate front, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/479d1118-3271-4d60-b6c7-7bf9d47d4a34\/deloitte-launches-cairo-innovation-hub-with-three-year,-usd-30-mn-investment-to-boost-service-exports\" style=\"\" rel=\"noopener\">Deloitte\u2019s new Cairo innovation hub<\/a> aims to hire 5k skilled professionals over three years, backed by a USD 30 mn investment, with a focus on AI, data analysis, and cybersecurity. These initiatives mark significant strides in cultivating the talent needed to secure Egypt\u2019s digital future.<\/p>\n<p class=\"tag-border-left\">ON THE REGIONAL FRONT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>The average cost of a cyberattack in the Middle East has surged to USD 8.8 mn <\/strong>\u2014 nearly double the global average \u2014 highlighting the region\u2019s escalating vulnerability to cyber threats, according to Positive Technologies\u2019 <a target=\"_blank\" href=\"https:\/\/global.ptsecurity.com\/analytics\/cybersecurity-threatscape-in-the-middle-east-2023-2024?utm_source=global&amp;utm_medium=article&amp;utm_campaign=pt-study-cyberattacks-in-the-middle-east-tripled&amp;utm_content=new#How%20organizations%20in%20the%20Middle%20East%20were%20attacked\" style=\"\" rel=\"noopener\">Middle East cybersecurity threats report<\/a>. Between 3Q 2023 and 2Q 2024, cyberattacks tripled during periods of geopolitical tension, with hacktivist groups and advanced persistent threats (APTs) targeting critical sectors such as government, manufacturing, and telecommunications.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Government institutions bore the brunt of the attacks<\/strong>, accounting for 24% of incidents, while 17% targeted manufacturers. High-profile breaches included a cyberattack on the UAE\u2019s Lulu Hypermarket, which exposed over 200k customer records. Meanwhile, sophisticated ransomware groups disrupted energy and water systems, including a hack that temporarily shut down 70% of gas stations in Iran.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>With the Middle East\u2019s cybersecurity market projected to hit USD 23.4 bn by 2028, <\/strong><strong>regional governments and companies are ramping up investment in AI-driven threat detection<\/strong> and compliance frameworks. However, as cybercriminals evolve their tactics, the report highlights the urgent need for proactive and scalable defenses to safeguard the region\u2019s critical infrastructure and burgeoning digital economy.<\/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\/cybersecurity\/\">cybersecurity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hardhat\/\">Hardhat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/technology\/\">technology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"656441\" 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\/04\/656441\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656441\" class=\"content-area-description single-story post-656441 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;\">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>15 December (Sunday): MPs will reconvene in the House<\/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>An auction first for the country | PMI improvements | Beware of cybercriminals | All aboard for Iraqi rail projects<\/p>\n","protected":false},"featured_media":656416,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-656415","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"058a7535-97fb-4c79-9649-48ff474e525d","teaser":"An auction first for the country | PMI improvements | Beware of cybercriminals | All aboard for Iraqi rail projects","photo_url":"https:\/\/ent.news\/2024\/10\/2499.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>Heavy investor interest sees United Bank\u2019s retail tranche oversubscribed 59x - EnterpriseAM 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