{"id":656689,"date":"2024-12-09T00:00:00","date_gmt":"2024-12-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=656689"},"modified":"2025-12-18T01:55:41","modified_gmt":"2025-12-18T01:55:41","slug":"imf-expected-to-greenlight-reform-program-renegotiations-before-christmas-break","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-expected-to-greenlight-reform-program-renegotiations-before-christmas-break\/","title":{"rendered":"IMF expected to greenlight reform program renegotiations before Christmas break"},"content":{"rendered":"<section id=\"656691\" 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=\"656691\">\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\/09\/united-bank-will-make-its-egx-debut-tomorrow\/\">\r\n                            United Bank will make its EGX debut tomorrow                        <\/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\/09\/united-bank-will-make-its-egx-debut-tomorrow\/\" target=\"_blank\">\n                    Open 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/united-bank-will-make-its-egx-debut-tomorrow\/400-jpg-50\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/400.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"400.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/400.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/400.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656691\" class=\"content-area-description single-story post-656691 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-united-bank tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.3ab41ec5-e54c-41ee-9ea5-022cb0db80bc.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, folks.<\/strong> We\u2019re only two days into the workweek, but important local business news and updates \u2014 not to mention dramatic events on the world stage \u2014 are coming in quick. We\u2019ve got another full issue for you today, so let\u2019s jump right in.<\/p><p class=\"tag-border-left\">PSA-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s set to be a sunny 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>The sun won\u2019t be out in Alexandria though<\/strong>, with an overcast day forecasted with a high of 22\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\">HAPPENING TOMORROW- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a>  <strong>#1- United Bank<\/strong><strong>\u2019s shares will debut<\/strong><strong> on the EGX tomorrow under the ticker <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/companies\/UBEE.CA\" style=\"\" rel=\"noopener\">UBEE.CA<\/a><\/strong>, following the close of its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c086b524-6ef6-49ed-bfb6-8a538ad83b83\/%253cmark%253eunited-bank%253c%2Fmark%253e%25e2%2580%2599s-retail-tranche-59x-oversubscribed-as-subscription-period-closes\" style=\"\" rel=\"noopener\">heavily oversubscribed<\/a> retail and private offerings that put the company\u2019s share price at EGP 13.85.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Its entrance onto the bourse will mark the second IPO of the year<\/strong>, after Act Financial <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4d5c99b6-2d0a-4923-9bbc-6dc4ef74f1cc\/the-retail-tranche-of-act-financial%25e2%2580%2599s-ipo-was-54.8x-oversubscribed\" style=\"\" rel=\"noopener\">offered a 32% stake on EGX<\/a> in July and became the first company to conduct a full IPO in the Egyptian bourse since 2022.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#2- Will inflation rise for the fourth month in a row? <\/strong>Capmas and the CBE are expected to publish November\u2019s inflation data early tomorrow, with analysts watching closely for any shifts in food prices and the impact of recent monetary policy decisions. Data for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4fbdb675-e769-438a-ba63-11d1f9466840\/%253cmark%253einflation%253c%2Fmark%253e-rises-for-the-third-consecutive-month-to-26.5%2525\" style=\"\" rel=\"noopener\">October saw inflation rise 0.1 percentage points to 26.5%<\/a>, extending its upward trajectory for a third consecutive month. <\/p><p class=\"tag-border-left\">FROM THE DEBT MARKETS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>The average yield on three-month EGP-denominated t-bills rose to 31.419%<\/strong> in Sunday\u2019s auction by the Central Bank of Egypt, up 0.219 percentage points since the same bills last went to auction, according to <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/auctions\/egp-t-bills\/historical-data\" style=\"\" rel=\"noopener\">data<\/a> from the bank. The bank sold EGP 52.8 bn worth of the bills, above its target of EGP 35.0 bn. However, the bank only sold EGP 4.4 bn of its EGP 30.0 bn target for its nine-month bills, with an average yield of 28.671% \u2014 up 0.121 percentage points.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing, we looked at the future of Egypt's food industry and its goals for the rest of the decade. Check out the story <a target=\"_blank\" rel=\"noopener\">here<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CORRECTION- <\/strong>We made a typo in yesterday\u2019s issue of EnterpriseAM Egypt by accidentally saying the central bank sold USD-denominated bills on Thursday \u2014 the auction was for EGP-denominated bills. The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bb8bacf0-6544-41ed-a38f-eb27dcf9bf12\/egp-falls-to-lowest-level-since-march-float,-passing-egp-50-mark-against-the-greenback\" style=\"\" rel=\"noopener\">story<\/a> has been amended on our website. <\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a>  <strong>The collapse of Bashar Al Assad\u2019s<\/strong><strong> regime reverberates across global headlines this <\/strong><strong>morning<\/strong>, ending over five decades of autocratic rule in Syria by members of the Assad family after a rapid opposition offensive captured several key cities, including the capital Damascus yesterday. Assad and his family have fled to Moscow, where they have been granted asylum, as per Russian state media. As celebrations erupt across Syria and the diaspora across the world, the country faces the daunting task of navigating a deeply fractured political and social landscape to rebuild from the ruins of its long civil war. (<a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/assads-downfall-marks-a-new-realignment-in-the-middle-east-ed9cb441?mod=WSJ_home_mediumtopper_pos_1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/76ac32e1-8cfa-4d3b-b88e-e98908b5b7a0\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-08\/syrian-tv-says-assad-s-government-has-fallen-after-rebel-advance?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/syria-rebels-celebrate-captured-homs-set-sights-damascus-2024-12-07\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/syria-assad-sweida-daraa-homs-hts-qatar-816e538565d1ae47e016b5765b044d31\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2024\/12\/08\/world\/syria-war-damascus\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2024\/12\/07\/syria-war-news-israel-hamas-gaza-lebanon\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/live\/2024\/dec\/08\/syria-bashar-al-assad-damascus-rebels-latest-updates-live\" 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 power vacuum left by Assad\u2019s departure has thrust Hayat Tahrir Al Sham and its<\/strong><strong> leader Abu Mohammed Al Golani into the spotlight<\/strong>, with numerous outlets out with pieces trying to decipher the man and his motives. The group \u2014 once an al-Qaeda affiliate \u2014 and its leader now seek to portray themselves as a stabilizing force, issuing reassurances to Syria\u2019s minorities and pledging to preserve state institutions after transition, but questions remain as to how much the group has changed and what role it will play in a post-Assad Syria. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-08\/al-jolani-and-the-hts-who-are-the-syrian-rebels-who-ended-assad-s-rule\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/abu-mohammed-al-golani-former-al-qaeda-chief-who-is-syrias-leading-rebel-2024-12-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While over in the states, Trump threatened to jail some of his political opponents in his<\/strong><strong> first post-election TV interview<\/strong>, telling NBC that Liz Cheney and others on the House committee looking into the 6 January attack on the Capitol \u201cshould go to jail.\u201d <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fed Chair Jay Powell, however, seems off to be off the hook<\/strong> \u2014 for now at least \u2014 with Trump saying that Powell will not be pushed out before his term ends in May 2026. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/545e6b10-7860-401b-8573-fd27fd67078a\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/12\/08\/us\/politics\/trump-interview-meet-the-press.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/politics\/2024\/12\/08\/trump-january-6-biden-jack-smith\/\" style=\"\" rel=\"noopener\">Washington Post<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And in business news, Omnicom and Interpublic are currently in merger talks to form the<\/strong><strong> world\u2019s largest advertising group<\/strong> in a USD 30 bn merger. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a0ea86f4-e7fa-4823-bcfa-878c89ef6bd8\" 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\/2495.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue:<\/strong> We looked at the possibility that SATs may be returning to Egypt in 2025, alongside new regulations to prevent exam manipulation.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/united-bank\/\">United Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"656693 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"656693\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/656693\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656693\" class=\"content-area-description single-story post-656693 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1544.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Somabay<\/span><span style=\"\">, <\/span><span>every reason to fall in love.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"656694\" 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=\"656694\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/imf-expected-to-greenlight-reform-program-renegotiations-before-christmas\/\">\r\n                            IMF expected to greenlight reform program renegotiations requested by Egypt before Christmas                        <\/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\/09\/imf-expected-to-greenlight-reform-program-renegotiations-before-christmas\/\" 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\/09\/imf-expected-to-greenlight-reform-program-renegotiations-before-christmas\/')\">\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\/09\/imf-expected-to-greenlight-reform-program-renegotiations-before-christmas\/\">\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=IMF expected to greenlight reform program renegotiations before Christmas&url=https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/imf-expected-to-greenlight-reform-program-renegotiations-before-christmas\/\">\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\/09\/imf-expected-to-greenlight-reform-program-renegotiations-before-christmas\/&title=IMF expected to greenlight reform program renegotiations before Christmas\">\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=IMF+expected+to+greenlight+reform+program+renegotiations+before+Christmas+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F12%2F09%2Fimf-expected-to-greenlight-reform-program-renegotiations-before-christmas%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\/09\/imf-expected-to-greenlight-reform-program-renegotiations-before-christmas\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/753.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"656695\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/imf-expected-to-greenlight-reform-program-renegotiations-before-christmas\/753-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/753.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"753.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/753.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/753.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656694\" class=\"content-area-description single-story post-656694 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-imf 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\/.20d3ad38-7af0-43f7-8dfa-12b8e0dfadd7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt is in talks with the International Monetary Fund to extend timelines for key reforms<\/strong><strong> under its economic reform program<\/strong>, a senior government official told EnterpriseAM. The official expects Egypt to be placed on the IMF Executive Board\u2019s <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/About\/executive-board\/EBC-Scheduled\" style=\"\" rel=\"noopener\">agenda<\/a> before the Christmas holidays for the amendments to be given the final greenlight.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Negotiations with the IMF are reportedly progressing well<\/strong>, with the source noting that the talks have reached \u201cnear-consensus.\u201d However, the final decision rests with the countries that hold the largest voting shares in the Fund.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government is talking with the IMF about postponing a fuel hike planned for the end <\/strong><strong>of this month<\/strong> to early March and postponing a subsequent hike in June to September, followed by quarterly hikes. This would push the timeline for fully eliminating fuel subsidies to June 2026, rather than December 2025, the source said, noting that such a decision would likely help bring down inflation in the interim. Easing Egypt\u2019s fuel price hike obligations in 2025 could help lower inflation to below 20% by the end of next year, particularly by stabilizing diesel prices. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While inflation is on the decline, things are very much still touch-and-go<\/strong>, as the Central Bank of Egypt\u2019s Monetary Policy Committee noted during its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5fa5091d-1a11-476a-bb06-468fe450d909\/central-bank-of-egypt-keeps-rates-stable-for-fifth-time-in-a-row\" style=\"\" rel=\"noopener\">November<\/a> meeting that while normalizing inflation dynamics and improved inflation expectations indicate that inflation \u201cwill continue its declining course,\u201d it cautioned that upside risks remain due to fiscal measures, geopolitical tensions, and global trade disruptions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s just one major issue \u2014 our growing fuel subsidy bill<\/strong>, which has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/de34903b-1ed8-46a2-833c-f3bf21deaac3\/fuel-subsidies-up-232%2525-in-first-quarter-of-fy-2024-25-despite-price-hikes\" style=\"\" rel=\"noopener\">risen 232% y-o-y<\/a> to EGP 28.5 bn in the first quarter of FY 2024-25 despite <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e1e29b9-af1f-412d-9492-354ca6e76353\/egypt-hikes-fuel-prices-for-the-third-time-this-year\" style=\"\" rel=\"noopener\">three rounds of fuel price hikes<\/a> this calendar year. Egypt\u2019s fuel subsidy bill is projected to exceed the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3fd60d61-8953-483c-a09b-8bce0f612e9e\" style=\"\" rel=\"noopener\">EGP 154.5 bn budget allocation<\/a>, potentially surpassing EGP 200 bn by year-end due to a strong USD and higher oil prices amid geopolitical tensions, according to the source. The Finance Ministry has also disbursed an additional EGP 53 bn to the Oil Ministry to pay foreign partners and secure imports for strategic stockpiling.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is a key area of concern for the IMF<\/strong>, as although our source noted that the surge was an unavoidable effect of rising global oil prices, currency depreciation, and higher summer fuel demand, the Fund has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b783a33c-54f4-403e-bbb3-d45168e55bab\/imf-completes-third-review-of-our-loan-program,-enabling-the-disbursal-of-usd-820-mn\" style=\"\" rel=\"noopener\">previously made clear<\/a> that eliminating fuel subsidies is a key criterion for evaluating our economic reform program.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In efforts in part to cut demand, the government is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/de34903b-1ed8-46a2-833c-f3bf21deaac3\/fuel-subsidies-up-232%2525-in-first-quarter-of-fy-2024-25-despite-price-hikes\" style=\"\" rel=\"noopener\">ramping up support<\/a><\/strong><strong> for programs to <\/strong><strong>shift vehicles to run on natural gas and electricity<\/strong>, as well as expanding residential gas connections. A document previously seen by EnterpriseAM shows plans to convert 455k vehicles over the next four years to run on natural gas, averaging 113k per year, and connect 1.2 mn homes to natural gas as a cheaper alternative to gas cylinders. Switching to natural gas could save citizens EGP 30k-49k annually, with added savings for the state budget, according to the document.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Protecting low-income consumers from the impact of price hikes is a key concern<\/strong>, with Prime Minister Mostafa Madbouly noting in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e1e29b9-af1f-412d-9492-354ca6e76353\/%253cmark%253e%253c%2Fmark%253eegypt%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ehikes%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253efuel%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eprices%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253efor%253cmark%253e%253c%2Fmark%253e%253c%253cmark%253e%253c%2Fmark%253emark%253cmark%253e%253c%2Fmark%253e%253e%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253ethe%253cmark%253e%253c%2Fmark%253e%253c%2F%253cmark%253e%253c%2Fmark%253emark%253cmark%253e%253c%2Fmark%253e%253e%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253ethird%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253etime%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ein%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253e2024%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">October<\/a> that support measures will \u201ccontinue to exist even after reaching the equilibrium point.\u201d The government is also discussing a potential social support package as part of the upcoming state budget, set to be submitted to parliament in March, according to the source. However, managing inflation, stabilising prices, and promoting investment remain the country\u2019s top priorities, they added.<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsidies\/\">subsidies<\/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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/ezz-steel-mulls-beginning-procedures-to-voluntary-delist-from-the-egx\/\">\r\n                            Ezz Steel mulls beginning procedures to voluntary delist from the EGX                        <\/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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EGX\">\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=Ezz+Steel+mulls+beginning+procedures+to+voluntary+delist+from+the+EGX+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F12%2F09%2Fezz-steel-mulls-beginning-procedures-to-voluntary-delist-from-the-egx%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\/09\/ezz-steel-mulls-beginning-procedures-to-voluntary-delist-from-the-egx\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/815.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"656698\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/ezz-steel-mulls-beginning-procedures-to-voluntary-delist-from-the-egx\/815-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/815.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"815.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/815.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/815.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656697\" class=\"content-area-description single-story post-656697 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-capital-markets tag-egx tag-enterpriseam tag-ezz-steel 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\/.3bb1026d-d91c-4bd0-abf6-44b35c9fa8e5.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Ezz Steel may soon delist its shares from the EGX: <\/strong>Ezz Steel\u2019s board of directors has voted to begin procedures for delisting its shares from the EGX.&nbsp; The move now awaits the the general assembly\u2019s greenlight, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/678.pdf\" style=\"\" rel=\"noopener\">EGX statement (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> Objecting shareholders can sell their shares back to the company at either the highest closing price during the month preceding the board of directors\u2019 statement \u2014 EGP 118.98 per share \u2014 or the fair value of the company\u2019s shares as determined by an independent financial advisor registered with the Financial Regulatory Authority (FRA). The board has authorized a delisting price of up to EGP 120 per share, with the company retaining the right to void the delisting should the price per share exceed that threshold. The company will finance the delisting with available liquidity and a loan from Emirates NBD, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/12\/08\/1851583\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>The company has tapped BDO Keys Financial Consulting to carry out the valuation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>The board has authorized the company\u2019s chairman to convene an extraordinary general assembly of the company\u2019s shareholders to vote on the decision once the FRA completes the necessary approvals for the delisting.<\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/ezz-steel\/\">Ezz Steel<\/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=\"656699\" 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=\"656699\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">FINANCIAL SERVICES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/beltone-capital-and-italys-crif-ratings-form-jv-to-launch-the-countrys-second-credit-rating-agency\/\">\r\n                            Beltone Capital and Italy\u2019s CRIF Ratings form JV to launch the country\u2019s second credit rating agency                        <\/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 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/beltone-capital-and-italys-crif-ratings-form-jv-to-launch-the-countrys-second-credit-rating-agency\/755-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/755.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"755.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/755.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/755.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656699\" class=\"content-area-description single-story post-656699 post type-post status-publish format-standard has-post-thumbnail hentry category-financial-services tag-beltone-financial tag-debt tag-debt-watch tag-enterpriseam tag-financial-regulatory-authority tag-financial-services wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.7ebf7e32-556c-42cc-bc21-04581fe0481a.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>wait<\/strong><strong> for Egypt\u2019s second credit rating agency is almost over<\/strong>, with Beltone Financial Holding subsidiary Beltone Capital forming a joint venture with Italy\u2019s CRIF Ratings to launch a credit ratings and business solutions company in Egypt, with sights set on expanding to the region at large, a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/727.pdf\" style=\"\" rel=\"noopener\">joint statement (pdf)<\/a> reads. The Financial Regulatory Authority <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/628c2580-2ec3-4e09-bece-15ce866fb39b\/beltone-financial-holding,%253cmark%253e-crif%253c%2Fmark%253e-alliance-is-setting-up-egypt%25e2%2580%2599s-second-credit-rating-agency\" style=\"\" rel=\"noopener\">selected<\/a> the alliance earlier this year to set up a second credit rating agency. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The entity is expected to commence operations following FRA approval<\/strong>, although the exact launch date and its official name remain under wraps. Once the new credit rating agency gets off the ground, the Middle East Rating and Investors Service (MERIS) \u2014 a joint venture between Moody\u2019s and Finance and Banking Consultants International (FinBi) \u2014 will no longer be the country\u2019s sole credit rating agency.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new venture will offer a \u201cholistic set of solutions\u201d to the local market<\/strong>, including debt ratings, SME and corporate borrower assessments, portfolio evaluations for non-banking lenders, ESG compliance services, unsolicited ratings, and lender onboarding tools, according to the statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThis partnership reflects Beltone\u2019s commitment to serving the market with <\/strong><strong>innovative, data-backed solutions.<\/strong> Together, we will deliver unmatched services that combine CRIF\u2019s credit rating track-record with Beltone\u2019s on-ground knowledge and data-driven approach,\u201d Beltone Holding Group CEO Dalia Khorshid said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The search for another rating agency to handle the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d087ef18-4b4b-4559-ac5d-ac851785b9eb\" style=\"\" rel=\"noopener\">growing popularity<\/a><\/strong><strong> of local <\/strong><strong>asset-backed securities has been in the works for a few years.<\/strong> The FRA scrapped its requirement that at least 10% of the agency be owned by international firms in a bid to move the process along. The authority was in negotiations with an unnamed company interested in the license in 2022 before opening the door for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfa5e60a-6249-4c47-9cb4-66c872931c1e\" style=\"\" rel=\"noopener\">applications<\/a> in August 2023. The establishment of another credit rating agency is expected to speed up the process of issuing debt, which currently takes some 66 days. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart: <\/strong>At its core, a credit rating agency assesses the creditworthiness of entities \u2014 which in the case of the license being offered up the FRA is securities. The license from the FRA will allow the newly-formed credit rating agency to assess the issuer of the security, the nitty-gritty details of the security, and its collateral, along with broader economic factors \u2014 think interest rates, growth rates, inflation \u2014 and then give the security a rating that ranks the risk of default. Without accurate and fair ratings, it makes it much harder for investors to assess the risks of acquiring certain debts and muddies the water in terms of pricing \u2014 effectively putting off investors altogether.<\/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\/beltone-financial\/\">Beltone Financial<\/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\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"656701\" 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=\"656701\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Policy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/finance-investment-ministries-working-on-incentive-package-in-the-next-budget-to-boost-manufacturing-and-exports\/\">\r\n                            Finance, investment ministries working on incentive package in the next budget to boost manufacturing and exports                        <\/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:\/\/api.whatsapp.com\/send?text=Finance%2C+investment+ministries+working+on+incentive+package+in+the+next+budget+to+boost+manufacturing+and+exports+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F12%2F09%2Ffinance-investment-ministries-working-on-incentive-package-in-the-next-budget-to-boost-manufacturing-and-exports%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\/09\/finance-investment-ministries-working-on-incentive-package-in-the-next-budget-to-boost-manufacturing-and-exports\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/745.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"656702\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/finance-investment-ministries-working-on-incentive-package-in-the-next-budget-to-boost-manufacturing-and-exports\/745-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/745.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"745.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/745.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/745.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656701\" class=\"content-area-description single-story post-656701 post type-post status-publish format-standard has-post-thumbnail hentry category-policy tag-budget-watch tag-enterpriseam tag-finance tag-investment-watch tag-policy 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\/.3dec7a3e-5229-4aec-8448-788bf7a2f7d5.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An incentive package to boost manufacturing and exports for the next state budget is in the works, <\/strong>with the Finance Ministry in discussions with the Investment Ministry about measures to support the private sector with a specific focus on industry and exports and the unifying of procedures, Finance Minister Ahmed Kouchouk said yesterday at an event with the National Press Authority. \u201cWe want to eliminate the idea of exemptions from our dictionary, so we are currently relying on more sustainable incentives policies than the idea of granting exemptions,\u201d Kouchouk explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ministry has big targets for the end of the next fiscal year<\/strong>, planning to reduce the debt-to-GDP ratio to 84%, down from 89% at the end of the last fiscal year. This entails reducing external government debt to below USD 79 bn by June 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sovereign sukuk and green bonds will also play a role in this<\/strong>, by attracting more local investors to reduce the cost of borrowing, according to the minister.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Support for the middle class will also be a feature of the next budget<\/strong>, with Kouchouk explaining that increased social spending in this regard will help create more jobs and improve services.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But rising education and healthcare costs presents a challenge<\/strong>, with education costs rising 26% and healthcare by 25% in the first five months of the year \u2014 above the average sector spending growth of around 10%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But we should be ok on the wheat import front<\/strong>, as the minister said that even if global wheat prices rise, the government is buying shipments when prices are low.<\/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\/budget-watch\/\">budget watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/policy\/\">policy<\/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=\"656703\" 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=\"656703\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/egypts-foreign-reserves-inches-up-usd-10-5-mn-usd-47-0-bn-in-november\/\">\r\n                            Egypt\u2019s foreign reserves inches up USD 10.5 mn USD 47.0 bn in November                        <\/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\/09\/egypts-foreign-reserves-inches-up-usd-10-5-mn-usd-47-0-bn-in-november\/\" 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\/09\/egypts-foreign-reserves-inches-up-usd-10-5-mn-usd-47-0-bn-in-november\/')\">\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\/09\/egypts-foreign-reserves-inches-up-usd-10-5-mn-usd-47-0-bn-in-november\/\">\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=Egypt\u2019s foreign reserves inches up USD 10.5 mn USD 47.0 bn in November&url=https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/egypts-foreign-reserves-inches-up-usd-10-5-mn-usd-47-0-bn-in-november\/\">\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\/09\/egypts-foreign-reserves-inches-up-usd-10-5-mn-usd-47-0-bn-in-november\/&title=Egypt\u2019s foreign reserves inches up USD 10.5 mn USD 47.0 bn in November\">\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=Egypt%E2%80%99s+foreign+reserves+inches+up+USD+10.5+mn+USD+47.0+bn+in+November+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F12%2F09%2Fegypts-foreign-reserves-inches-up-usd-10-5-mn-usd-47-0-bn-in-november%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\/09\/egypts-foreign-reserves-inches-up-usd-10-5-mn-usd-47-0-bn-in-november\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/747.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"656704\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/egypts-foreign-reserves-inches-up-usd-10-5-mn-usd-47-0-bn-in-november\/747-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/747.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"747.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/747.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/747.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656703\" class=\"content-area-description single-story post-656703 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-central-bank-of-egypt tag-economy tag-enterpriseam tag-foreign-reserves 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\/.bb98acd1-9f31-4cdd-86c5-acae57c64a83.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Net foreign reserves remained essentially unchanged at <\/strong><strong>USD 47.0 bn<\/strong><strong> at the<\/strong><strong> end of November 2024<\/strong>, marking only a USD 10.5 mn increase from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ae124ece-b1ef-4b2d-aee3-d44de10ebe7d\/egypt%25e2%2580%2599s-foreign%253cmark%253e-reserves%253c%2Fmark%253e-continue-their-upward-cruise,-coming-in-at-usd-46.9-bn-in-october\" style=\"\" rel=\"noopener\">October\u2019s level<\/a>, according to <a target=\"_blank\" href=\"https:\/\/cbe.org.eg\/en\/news-publications\/news\/2024\/12\/08\/11\/23\/net-international-reserves-at-the-end-of-november-2024\" style=\"\" rel=\"noopener\">data<\/a> from the Central Bank of Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Here\u2019s the breakdown, according to<\/strong> <strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/733.pdf\" style=\"\" rel=\"noopener\">CBE data (pdf)<\/a><\/strong><strong>:<\/strong><\/p>\n<ul>\n<li><strong>FX reserves rose USD 643 mn<\/strong> to USD 36.1 bn in November, up from nearly USD 35.5 bn in October.<\/li>\n<li><strong>Gold reserves fell by 377 mn<\/strong> to USD 10.8 bn, down from USD 11.2 bn.<\/li>\n<li><strong>Special drawing rights<\/strong> fell USD 256 mn during the month to USD 37 mn, down from USD 293 mn.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart: <\/strong><a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/About\/Factsheets\/Sheets\/2023\/special-drawing-rights-sdr\" style=\"\" rel=\"noopener\">Special drawing rights<\/a> \u2014 also known as SDRs \u2014 are international reserve assets created by the IMF. While not a currency, they are a form of international money that can be used by countries to supplement their official reserves. They are primarily used for IMF transactions, such as repaying loans or increasing quotas.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s net foreign reserves have increased by around USD 11.6 bn in the <\/strong><strong>seven<\/strong><strong> months <\/strong><strong>since the government announced the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0b97fcf-95b0-4d39-86ae-0a4989221520\" style=\"\" rel=\"noopener\">USD 35 bn Ras El Hekma agreement<\/a><\/strong>, which was followed by the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac569e2c-c6f2-480e-bdaa-3f1cd4f81d05\" style=\"\" rel=\"noopener\">float of the EGP<\/a> and FX liquidity returning to the official banking system, paving the way for more international funds. In February \u2014 the month immediately before the float \u2014 foreign reserves stood at <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/98fd7df8-7e83-42c6-a867-b40af8430539\" style=\"\" rel=\"noopener\">USD 35.3 bn<\/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\/central-bank-of-egypt\/\">Central Bank of Egypt<\/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\/foreign-reserves\/\">foreign reserves<\/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=\"656705\" 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=\"656705\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/chinese-usd-50-mn-luggage-factory-breaks-ground-in-qantara-west-industrial-zone\/\">\r\n                            Chinese USD 50 mn luggage factory breaks ground in Egypt\u2019s Qantara West Industrial Zone                        <\/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\/09\/chinese-usd-50-mn-luggage-factory-breaks-ground-in-qantara-west-industrial-zone\/\" 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\/09\/chinese-usd-50-mn-luggage-factory-breaks-ground-in-qantara-west-industrial-zone\/')\">\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\/09\/chinese-usd-50-mn-luggage-factory-breaks-ground-in-qantara-west-industrial-zone\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Chinese USD 50 mn luggage factory breaks ground in Qantara West Industrial Zone&url=https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/chinese-usd-50-mn-luggage-factory-breaks-ground-in-qantara-west-industrial-zone\/\">\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\/09\/chinese-usd-50-mn-luggage-factory-breaks-ground-in-qantara-west-industrial-zone\/&title=Chinese USD 50 mn luggage factory breaks ground in Qantara West Industrial Zone\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Chinese+USD+50+mn+luggage+factory+breaks+ground+in+Qantara+West+Industrial+Zone+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F12%2F09%2Fchinese-usd-50-mn-luggage-factory-breaks-ground-in-qantara-west-industrial-zone%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\/09\/chinese-usd-50-mn-luggage-factory-breaks-ground-in-qantara-west-industrial-zone\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/743.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"656706\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/chinese-usd-50-mn-luggage-factory-breaks-ground-in-qantara-west-industrial-zone\/743-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/743.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"743.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/743.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/743.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656705\" class=\"content-area-description single-story post-656705 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-egypt-china-relations tag-enterpriseam tag-manufacturing tag-suez-canal-economic-zone tag-west-qantara-industrial-zone 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\/.74e1495b-1abc-4b0a-9ba8-11f3131b4d28.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Another Chinese company kicks off construction in the SCZone:<\/strong> Chinese luggage manufacturer Hangzhou Henneway Travel Goods \u2014 whose client brands include Samsonite, Swissgear, Travelite, and Delsey \u2014 kicked off construction on its USD 50 mn factory in the Suez Canal Economic Zone\u2019s (SCZone) Qantara West Industrial Zone, according to an SCZone <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/pfbid027pNoqv4LSs1x1KapUw2mqe25H8YspkrBhcwttAnEE6KrdKjQvTqai9bEhBTytr1yl\" style=\"\" rel=\"noopener\">statement<\/a>. The factory is set to cover 120k sqm area and is expected to create some 3k new job opportunities in the region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We knew this was coming:<\/strong> The Chinese manufacturer <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e56b963-e052-4cf2-a077-18e50a880511\/chinese-luggage-company-inks-agreement-for-usd-50-mn-factory\" style=\"\" rel=\"noopener\">inked the agreement<\/a> with the SCZone back in December 2023, with the original project kickoff date set for 1Q 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> SCZone head Walid Gamal El Din noted that the Henneway project \u201cenhances the SCZone\u2019s cooperation with Chinese investors, whose investments have now exceeded USD 3 bn.\u201d He added that the project will bolster the zone\u2019s position as a regional industrial and commercial hub, particularly in the luggage manufacturing sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>**Want to know more about Chinese industrial investments in the country?<\/strong> In a recent <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ef74ffd-fb8e-48ba-ba41-32d0fb5eff00\/chinese-investors-have-been-loving-egypt-as-of-late-%e2%80%94-here%e2%80%99s-the-breakdown-of-how-this-love-has-translated-into-investments\" style=\"\" rel=\"noopener\">Inside Industry<\/a> we took a deep dive into growing Chinese industrial investments and government efforts to attract more Chinese capital across various sectors.<\/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\/egypt-china-relations\/\">Egypt-China relations<\/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\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/west-qantara-industrial-zone\/\">West Qantara Industrial Zone<\/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=\"656707 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=\"656707\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/656707\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656707\" class=\"content-area-description single-story post-656707 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=\"656708\" 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=\"656708\">\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\/09\/the-fall-of-the-assad-regime-in-syria-dominated-the-airwaves\/\">\r\n                            The fall of the Assad regime in Syria dominated 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\/09\/the-fall-of-the-assad-regime-in-syria-dominated-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\/09\/the-fall-of-the-assad-regime-in-syria-dominated-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\/09\/the-fall-of-the-assad-regime-in-syria-dominated-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=The fall of the Assad regime in Syria dominated the airwaves&url=https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/the-fall-of-the-assad-regime-in-syria-dominated-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\/09\/the-fall-of-the-assad-regime-in-syria-dominated-the-airwaves\/&title=The fall of the Assad regime in Syria dominated 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=The+fall+of+the+Assad+regime+in+Syria+dominated+the+airwaves+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F12%2F09%2Fthe-fall-of-the-assad-regime-in-syria-dominated-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\/09\/the-fall-of-the-assad-regime-in-syria-dominated-the-airwaves\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/758.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"656709\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/the-fall-of-the-assad-regime-in-syria-dominated-the-airwaves\/758-jpg-25\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/758.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"758.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/758.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/758.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656708\" class=\"content-area-description single-story post-656708 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-last-nights-talk-shows tag-middle-east-politics tag-syria 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\/.e86f724a-e7ec-4313-908d-fee76ac9e5be.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The dramatic <\/strong><strong>fall<\/strong><strong> of Syrian President Bashar Al Assad\u2019s regime dominated the airwaves <\/strong><strong>last night<\/strong>, with Amr Adib (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=UgQovy8eEYQ\" style=\"\" rel=\"noopener\">watch, runtime 39:37<\/a>) and Ahmed Moussa (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=3BFiTYoEf_k\" style=\"\" rel=\"noopener\">watch, runtime: 1:38:12<\/a>) dedicating their respective shows entirely to the topic. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cWhat\u2019s happening in Syria is reshaping the balance of power in the region,\u201d <\/strong>Egyptian Center for Strategic Studies\u2019s Iranian studies program head Huda Raouf told Moussa. Raouf noted that the main supporters of Syrian opposition factions are the United States, Israel, and Turkey, adding that the primary beneficiary of the events is Israel, which occupied hundreds of km of Syrian territory yesterday. \u201cTurkey aims to play a pivotal role in Syria at Iran\u2019s expense,\u201d Raouf added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThis is bigger than Assad\u2019s fall\u2014it\u2019s a regional shake-up,\u201d <\/strong>said Tarek Fahmy, political science professor at the American University in Cairo, speaking to Moussa. \u201cSyria is the starting point for broader regional arrangements \u2014 first between Washington and Moscow, and second between Russia and Israel,\u201d he explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cRussia\u2019s abandonment was key, followed by economic collapse, failing services, and<\/strong><strong> rising poverty<\/strong>,\u201d political analyst Alaa Al Asfari told Adib in his explanation of how the regime fell part in just ten days of the rebel advance.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/syria\/\">Syria<\/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=\"656710\" 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=\"656710\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/syrians-in-egypt-celebrating-the-fall-of-assads-regime-catches-the-attention-of-the-intl-press\/\">\r\n                            Syrians in Egypt celebrating the fall of Assad\u2019s regime catches the attention of the int\u2019l press                        <\/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\/09\/syrians-in-egypt-celebrating-the-fall-of-assads-regime-catches-the-attention-of-the-intl-press\/\" 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\/09\/syrians-in-egypt-celebrating-the-fall-of-assads-regime-catches-the-attention-of-the-intl-press\/')\">\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\/09\/syrians-in-egypt-celebrating-the-fall-of-assads-regime-catches-the-attention-of-the-intl-press\/\">\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=Syrians in Egypt celebrating the fall of Assad\u2019s regime catches the attention of the int\u2019l press&url=https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/syrians-in-egypt-celebrating-the-fall-of-assads-regime-catches-the-attention-of-the-intl-press\/\">\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\/09\/syrians-in-egypt-celebrating-the-fall-of-assads-regime-catches-the-attention-of-the-intl-press\/&title=Syrians in Egypt celebrating the fall of Assad\u2019s regime catches the attention of the int\u2019l press\">\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=Syrians+in+Egypt+celebrating+the+fall+of+Assad%E2%80%99s+regime+catches+the+attention+of+the+int%E2%80%99l+press+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F12%2F09%2Fsyrians-in-egypt-celebrating-the-fall-of-assads-regime-catches-the-attention-of-the-intl-press%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\/09\/syrians-in-egypt-celebrating-the-fall-of-assads-regime-catches-the-attention-of-the-intl-press\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/741.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"656711\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/syrians-in-egypt-celebrating-the-fall-of-assads-regime-catches-the-attention-of-the-intl-press\/741-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/741.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"741.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/741.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/741.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656710\" class=\"content-area-description single-story post-656710 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-enterpriseam tag-middle-east-politics tag-syria 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\/.ebd4abb2-d03f-41a0-9b21-73b3e664cd7b.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fall of Bashar Al Assad\u2019s regime has sparked celebrations among Syrians in Egypt<\/strong>, with <a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/live-news\/20241208-i-can-finally-go-home-syrians-in-egypt-rejoice-at-fall-of-assad\" style=\"\" rel=\"noopener\">AFP<\/a> highlighting the scenes of jubilation in Cairo\u2019s Syrian neighborhoods. Syrian restaurants and shops in Cairo became impromptu hubs of celebration, as exiles expressed hope for a return to their homeland after years of war and displacement. Many, like 15-year-old Reda Al Khedr, who fled Homs in 2014, voiced disbelief and optimism about rebuilding a \u201cliberated Syria,\u201d while others shared bittersweet reflections on loved ones lost during the conflict. <\/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\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/syria\/\">Syria<\/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=\"656712\" 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=\"656712\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/saudis-al-mousa-cables-eyes-egypt-expansion-with-eur-50-mn-factory-plus-world-bank-african-development-bank-eva-pharma-beach-safari\/\">\r\n                            Saudi\u2019s Al Mousa Cables eyes Egypt expansion with EUR 50 mn factory. PLUS: World Bank, African Development Bank, Eva Pharma, Beach Safari                        <\/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\/09\/saudis-al-mousa-cables-eyes-egypt-expansion-with-eur-50-mn-factory-plus-world-bank-african-development-bank-eva-pharma-beach-safari\/\" 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\/09\/saudis-al-mousa-cables-eyes-egypt-expansion-with-eur-50-mn-factory-plus-world-bank-african-development-bank-eva-pharma-beach-safari\/')\">\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\/09\/saudis-al-mousa-cables-eyes-egypt-expansion-with-eur-50-mn-factory-plus-world-bank-african-development-bank-eva-pharma-beach-safari\/\">\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=Saudi\u2019s Al Mousa Cables eyes Egypt expansion with EUR 50 mn factory. PLUS: World Bank, African Development Bank, Eva Pharma, Beach Safari&url=https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/saudis-al-mousa-cables-eyes-egypt-expansion-with-eur-50-mn-factory-plus-world-bank-african-development-bank-eva-pharma-beach-safari\/\">\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\/09\/saudis-al-mousa-cables-eyes-egypt-expansion-with-eur-50-mn-factory-plus-world-bank-african-development-bank-eva-pharma-beach-safari\/&title=Saudi\u2019s Al Mousa Cables eyes Egypt expansion with EUR 50 mn factory. PLUS: World Bank, African Development Bank, Eva Pharma, Beach Safari\">\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=Saudi%E2%80%99s+Al+Mousa+Cables+eyes+Egypt+expansion+with+EUR+50+mn+factory.+PLUS%3A+World+Bank%2C+African+Development+Bank%2C+Eva+Pharma%2C+Beach+Safari+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F12%2F09%2Fsaudis-al-mousa-cables-eyes-egypt-expansion-with-eur-50-mn-factory-plus-world-bank-african-development-bank-eva-pharma-beach-safari%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\/09\/saudis-al-mousa-cables-eyes-egypt-expansion-with-eur-50-mn-factory-plus-world-bank-african-development-bank-eva-pharma-beach-safari\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/757.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"656713\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/saudis-al-mousa-cables-eyes-egypt-expansion-with-eur-50-mn-factory-plus-world-bank-african-development-bank-eva-pharma-beach-safari\/757-jpg-21\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/757.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"757.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/757.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/757.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656712\" class=\"content-area-description single-story post-656712 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-african-development-bank tag-also-on-our-radar tag-cairo-metro tag-development-finance tag-enterpriseam tag-eva-pharma tag-healthcare tag-hospitality tag-manufacturing tag-pharma tag-saudi-arabia tag-transport tag-waste-management tag-wastewater tag-world-bank 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\/.c76d408d-a7d9-4281-86bf-b87722c5379b.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">MANUFACTURING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi cable manufacturer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.almousacables.com\/\" style=\"\" rel=\"noopener\">Al Mousa Cables<\/a><\/strong><strong> is set to establish its first EUR 50 mn cable <\/strong><strong>production factory in Egypt<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/industries\/63144\/%D8%A7%D9%84%D9%85%D9%88%D8%B3%D9%89-%D9%84%D9%84%D9%83%D8%A7%D8%A8%D9%84%D8%A7%D8%AA-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%B9%D8%AA%D8%B2%D9%85-%D8%AA%D8%AF%D8%B4%D9%8A%D9%86-%D9%85%D8%B5%D9%86%D8%B9-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1\/\" style=\"\" rel=\"noopener\">Ashraq Business<\/a> reports, citing an anonymous company source. The factory will span some 40k sqm in Tenth of Ramadan, with the first phase set to begin operating in mid-2025. The factory will have a production capacity of some 6k kg of specialized cables per month in its first phase, with the company targeting the export of 50% of its production to international markets, particularly North Africa. The factory, which is being launched in partnership with an Egyptian investor, will be self-financed.<\/p><p class=\"tag-border-left\">TRANSPORT- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Four<\/strong><strong> int\u2019l consortiums have submitted technical and financial offers to develop Cairo\u2019s <\/strong><strong>Metro Line 2<\/strong>, with the Transport Ministry having formed a committee to evaluate the offers, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/4-%d8%aa%d8%ad%d8%a7%d9%84%d9%81%d8%a7%d8%aa-%d8%b9%d8%a7%d9%84%d9%85%d9%8a%d8%a9-%d8%aa%d8%aa%d9%86%d8%a7%d9%81%d8%b3-%d8%b9%d9%84%d9%89-%d8%aa%d9%86%d9%81%d9%8a%d8%b0-%d8%aa%d8%b7%d9%88%d9%8a%d8%b1\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports, citing anonymous sources. Three of the offers are led by French companies, including Colas Rail, Alstom, and TSO, with the remaining offer coming from China Railway Electrification Bureau (EEB). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The chosen consortium is expected to provide soft loans for financing the project\u2019s <\/strong><strong>foreign portion<\/strong>, which is expected to cost over EUR 600 mn. The planned upgrades \u2014 which are set to be implemented over five years \u2014 will improve signaling, central control, and station infrastructure, extending the line's lifespan by 25 years.<\/p><p class=\"tag-border-left\">DEVELOPMENT FINANCE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The World Bank has extended its financial support for the country\u2019s universal health ins. <\/strong><strong>System for another two years<\/strong>, with the USD 400 mn support package extended until September 2026, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/731.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a> from the bank that brought to light a decision made in June. The project has so far disbursed USD 143.7 mn of the total amount since coming into force in 2021.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: The second EGP 115 bn phase of the system will be launched in the next fiscal year<\/strong>, with five more governorates to be incorporated into the system over three years, Prime Minister Mostafa Madbouly told reporters during a recent <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9c406c69-9575-478a-b212-a76d43e6c299\/it%25e2%2580%2599s-interest-rate-decision-time-for-the-central-bank\" style=\"\" rel=\"noopener\">weekly presser<\/a>. The first phase covered Port Said, Luxor, Ismailia, South Sinai, Aswan, and Suez governorates.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The African Development Bank is mulling EUR 50 mn in financing for development of the <\/strong><strong>Abu Rawash wastewater treatment plant<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.afdb.org\/en\/documents\/egypt-sustainable-development-abu-rawash-wastewater-treatment-plant-arwwtp-iv\" style=\"\" rel=\"noopener\">project report<\/a> from the bank. The funds will cover some 35% of the required EUR 141 mn for the project, with the government covering the remaining EUR 91 mn. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The terms:<\/strong> The loan will have a total repayment period of 25 years, with a grace period of up to eight years. The interest will be calculated based on variable interest with a margin not exceeding 1%. <\/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>Eva Pharma has tapped a Saudi contractor to help it implement its USD 150 mn pharma <\/strong><strong>research and manufacturing complex in the kingdom\u2019s Sudair Industrial City<\/strong>, managing director of the local drugmaker\u2019s Saudi cluster Amgad Talaat told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/12\/08\/-%D8%A7%D9%8A%D9%81%D8%A7-%D9%81%D8%A7%D8%B1%D9%85%D8%A7-%D9%84%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D9%85%D8%AC%D9%85%D8%B9%D9%86%D8%A7-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D9%8A-%D8%A8%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%A7%D9%84%D9%89-150-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> without disclosing the name of the contractor. The contractor broke ground on the project last month and the first of the complex\u2019s five pharma factories is set to come online next year \u2014 all five factories will be operational by 2030. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Eva Pharma <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4141b389-4cef-482f-9e29-cb2e58bdcf38\/%253cmark%253eeva-pharma%253c%2Fmark%253e-inks-agreement-for-saudi-pharma-complex\" style=\"\" rel=\"noopener\">inked an agreement<\/a> with the Saudi Authority for Industrial Cities and Technology Zones to build the complex back in 2023. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company also has important milestones coming up that it will hit locally,<\/strong> with the company set to start producing insulin locally this month and start locally producing the raw material needed for the production of medicine for autoimmune diseases at a later stage, Talaat said. <\/p><p class=\"tag-border-left\">HOSPITALITY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Beach Safari is set to launch an EGP 2 bn integrated tourism<\/strong><strong> project<\/strong>, dubbed Downtown, which chairman of the company\u2019s board of directors Boshra Ghaly claimed will be the largest of its kind in Marsa Alam in comments to <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=07122024&amp;id=1742e561-7acf-43a5-9a9e-bd72c85783f1\" style=\"\" rel=\"noopener\">Shorouk News<\/a>. The project \u2014 whose construction is expected to kick off in March \u2014 will span 120k sqm and feature shopping malls, casinos, water parks, a wellness hotel, and sports facilities. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The government has proposed a 264-acre tourism investment project under a <\/strong><strong>usufruct agreement in Giza<\/strong>, with the government interested in building hotels and resorts in the area, according to a government document seen by <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=07122024&amp;id=391a1b94-a3d0-4e3b-bb98-f24ceac9460c\" style=\"\" rel=\"noopener\">Shorouk News<\/a>. The move is part of a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7077f48a-d7bc-434f-96f6-fc4daff49252\/tens-of-ppp-projects-in-healthcare,-tourism,-and-education-up-for-grabs\" style=\"\" rel=\"noopener\">broader push<\/a> to attract private sector investments to the tourism sector through usufruct agreements and public-private partnerships.<\/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\/african-development-bank\/\">African Development Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n              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    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/fed-expected-to-pull-the-trigger-on-another-rate-cut-in-december-meeting-after-jobs-report\/\">\r\n                            Fed expected to pull the trigger on another rate cut in December meeting after jobs report                        <\/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\/09\/fed-expected-to-pull-the-trigger-on-another-rate-cut-in-december-meeting-after-jobs-report\/\" target=\"_blank\">\n                    Open in 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data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/963.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656714\" class=\"content-area-description single-story post-656714 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-federal-reserve tag-financial-markets tag-inflation 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\/.be889a1f-84b9-4827-b660-9295fd9b81d5.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The US economy added 227k jobs in November amid expectations of interest rate<\/strong> <strong>cuts for the third time this year before 2024 is out, <\/strong>according to data from the <a target=\"_blank\" href=\"https:\/\/www.bls.gov\/news.release\/empsit.nr0.htm\" style=\"\" rel=\"noopener\">US Bureau of Labor Statistics<\/a> on Friday. This marks a significant increase over October\u2019s 36k new hires, giving the US Federal Reserve enough room to cut rates during its next meeting in December, with the implied probability of a reduction reaching close to 90%, according to a <a target=\"_blank\" href=\"https:\/\/www.cmegroup.com\/markets\/interest-rates\/cme-fedwatch-tool.html?redirect=\/trading\/interest-rates\/countdown-to-fomc.html\" style=\"\" rel=\"noopener\">CME Group<\/a> gauge, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/12\/07\/the-fed-is-on-course-to-cut-interest-rates-in-december-but-what-happens-next-is-anyones-guess.html\" style=\"\" rel=\"noopener\">CNBC<\/a> reports.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The unemployment rate slightly ticked up to 4.2% from 4.1% in October<\/strong>, the <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/business\/2024\/dec\/06\/us-jobs-report-november\" style=\"\" rel=\"noopener\">Guardian<\/a> reports.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The labor market could be in for some headwinds once Trump takes office:<\/strong> US president-elect Donald Trump\u2019s strategies might lead to a regression in employment rates if he chooses to go after \u201ctns in tax cuts for the wealthy\u201d and attempts to \u201cslash public investments,\u201d one expert said. Others believe that the results might be affected by Trump\u2019s \u201cmass deportation\u201d plans, as the reference week for the figures was after the election, the Co-Director of the Center for Economic and Policy Research Dean Baker said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And the path forward for rates is still uncertain: <\/strong>Some analysts believe the Fed should pause rate cuts, believing further rate cuts to be \u201cunwise\u201d while jobs pile up and inflation remains elevated, Economist Chris Rupkey said. One economist expects the Fed to pause cuts in January, and potentially go for one other cut in early 2025 before taking a longer pause.<\/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 mixed<\/strong> as investors digest growth data from Japan and inflation in China, with the Nikkei up 0.3%, Hong Kong\u2019s Hang Seng trading flat, and South Korea\u2019s Kospi down 2% following South Korean President Yoon Suk Yeol\u2019s close brush with impeachment. <strong>Wall Street futures<\/strong> are unchanged after a record week for US stocks. <\/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\">31,061<\/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: +24.8%)<\/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>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 50.17<\/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 50.31<\/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><\/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 50.18<\/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 50.28<\/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\">11,955<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +0.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9266<\/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: -3.3%)<\/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>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\">4854<\/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: +19.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6090<\/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: +27.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8309<\/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: +7.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4978<\/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: +10.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 71.12<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 3.08<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2659.60<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 100,027.80<\/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: +136.7%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 0.7% at yesterday's close<\/strong> on turnover of EGP 4.7 bn (12.3% above the 90-day average). Foreign investors were the sole net sellers. The index is up 24.8% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Telecom Egypt (+4.9%), Palm Hills Development Company (+4.5%) and Elsewedy Electric (+3.1%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In th<\/strong><strong>e red: <\/strong>Ezz Steel (-2.1%), Juhayna (-1.2%) and Abu Dhabi Islamic Bank (-0.4%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/federal-reserve\/\">Federal Reserve<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/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<section id=\"656716\" 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=\"656716\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/madbouly-addresses-doha-forum-2024-and-meets-with-qatari-emir-prime-minister-and-business-delegations\/\">\r\n                            Madbouly addresses Doha Forum 2024 and meets with Qatari emir, prime minister, and business delegations                        <\/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 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/madbouly-addresses-doha-forum-2024-and-meets-with-qatari-emir-prime-minister-and-business-delegations\/739-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/739.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"739.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/739.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/739.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656716\" class=\"content-area-description single-story post-656716 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-diplomacy tag-egypt-qatar-relations tag-enterpriseam tag-qatar 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\/.797942f4-4179-4099-98e0-26a92f8b1df7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Prime<\/strong><strong> Minister Moustafa Madbouly took to the stage on the second and last day of the<\/strong> <strong><a target=\"_blank\" href=\"https:\/\/dohaforum.org\/\" style=\"\" rel=\"noopener\">Doha Forum 2024<\/a><\/strong> to participate in a session on Prospects for Cooperation in a Divided World, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid032a7gSppxjouQCE55BeA286GocTuNASsDmtoPSNNMFxMuv74qpYHKdhD1vnmF7Ndcl\" style=\"\" rel=\"noopener\">statement<\/a> from the cabinet. The prime minister reiterated the country\u2019s call for an immediate ceasefire in Gaza and attacked the notion that Israel\u2019s actions could be claimed to be self defense. Madbouly added that the lack of a two-state solution and international double standards has led us to this point and that it is the responsibility of the international community to address this.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our economy also came up in conversation<\/strong>, with the prime minister pointing to the reforms the country has taken since 2014 despite regional challenges to promote the role of the private sector, boost employment, attract investment, and more. Madbouly also called for increased climate finance for countries in Africa who are having to deal with the brunt of the climate catastrophe despite producing only 3% of the world\u2019s carbon emissions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The sidelines of the conference were just as eventful<\/strong>, with Madbouly meeting with Qatari Emir Sheikh Tamim bin Hamad Al Thani to discuss \u201ca number of issues of common interest,\u201d according to one cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0zM96Fw2Pc1nPZia3kyL3uVRb7oBWSudea9aVP4kmjTwfgRVeKeL5UsfJfymrKtgul\" style=\"\" rel=\"noopener\">statemen<\/a><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0zM96Fw2Pc1nPZia3kyL3uVRb7oBWSudea9aVP4kmjTwfgRVeKeL5UsfJfymrKtgul\" style=\"\" rel=\"noopener\">t<\/a>. Madbouly also met with his Qatari counterpart Sheikh Mohammed bin Abdulrahman Al Thani for a meeting centered around boosting cooperation between the two nations and increasing joint investment, according to a separate <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0vDKDcsdJuVTP7CwbDi6m4jD18V7xAA782Rfnst1B9idBxD223SBAAapdtL7StLLCl\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A Qatari business association also met with the prime minister to promote investment<\/strong><strong> and relations in various fields<\/strong>, including real estate, food security, and tourism, according to another <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02mwt4ChoS6JoAoMH2y2foVhuSZAZQQAa5mzAyshdJUD7NcPfWVKA1fCEvVxfX1SgKl\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. The government noted available real estate investment opportunities in Cairo, North Coast, the new administrative capital and other cities \u2014 and will provide a list of the available projects to the business delegation. Businessmen from the country\u2019s Chamber of Commerce and Industry also had a meeting with Madbouly.<\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-qatar-relations\/\">Egypt-Qatar relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"656718\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">13<\/div>\r\n\r\n                        <p class=\"f-graphik\">BLACKBOARD<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/the-sats-may-be-returning-to-egypt-in-2025\/\">\r\n                            The SATs may be returning to Egypt in 2025, alongside new regulations to prevent exam manipulation<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/the-sats-may-be-returning-to-egypt-in-2025\/\" 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\/blackboards\/the-sats-may-be-returning-to-egypt-in-2025\/')\">\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\/blackboards\/the-sats-may-be-returning-to-egypt-in-2025\/\">\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=The SATs may be returning to Egypt in 2025&url=https:\/\/enterpriseam.com\/egypt\/blackboards\/the-sats-may-be-returning-to-egypt-in-2025\/\">\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\/blackboards\/the-sats-may-be-returning-to-egypt-in-2025\/&title=The SATs may be returning to Egypt in 2025\">\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=The+SATs+may+be+returning+to+Egypt+in+2025+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fblackboards%2Fthe-sats-may-be-returning-to-egypt-in-2025%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>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/the-sats-may-be-returning-to-egypt-in-2025\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/737.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"656719\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/the-sats-may-be-returning-to-egypt-in-2025\/737-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/737.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"737.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/737.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/737.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-656718\" class=\"content-area-description post-656718 blackboard type-blackboard status-publish has-post-thumbnail hentry category-blackboard tag-blackboard tag-education tag-enterprise-blackboard tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The SATs could be on their way back to Egypt: <\/strong>Nonprofit organization College Board \u2014 which develops and administers the SAT college entrance exams \u2014 is looking into the possibility of reinstating the SAT exam for local American diploma students, with the move contingent upon the introduction of new regulations to ensure the integrity of the educational process and prevent manipulation of exams.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher:<\/strong> The SATs are globally recognized American admission tests for students applying to undergraduate programs and scholarships, particularly at US universities. The exam was offered in Egypt until September 2020, when College Board <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3eee3536-dce6-4332-923d-5ff1d6a4927b\/what-we%25e2%2580%2599re-tracking-on-sunday,-6-september-2020\" style=\"\" rel=\"noopener\">announced<\/a> that it would cancel the test indefinitely, citing \u201cpersistent test security incidents,\u201d including leaked questions. The SAT exam costs US students USD 60, and it costs USD 103 in countries around the world.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>**We ran a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9ee8bdb3-8ae5-44a6-b973-1add3d285f83\/will-current-sat-cancellations-permanently-change-the-sat-reliant-american-diploma-market-in-egypt%3F\" style=\"\" rel=\"noopener\">Blackboard<\/a><\/strong><strong> back in 2020<\/strong> that provides exhaustive background on the relationship between the SAT and the American diploma, as well as how Egyptian students have coped without the test.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Since the SATs were canceled in Egypt<\/strong>, students have opted to take the ACT \u2014 another prominent US-designed standardized test offered at the US Embassy\u2019s American Center Cairo (ACC) \u2014 or travel abroad to take the SAT, Badr University Assiut president Mostafa Kamal told EnterpriseAM. The government-designed EST has also emerged as a stopgap for American diploma students looking to attend Egyptian universities, though it is not accepted abroad. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s new:<\/strong> Education Minister Mohamed Abdel Latif <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/egypt.moe\/posts\/pfbid0V3B9XCpYc6cXVwCpasp71D7gLAAWHx6YnDAEfVF8fVmwJJjeR99mRshQGrCERQmsl\" style=\"\" rel=\"noopener\">held a video conferenc<\/a><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/egypt.moe\/posts\/pfbid0V3B9XCpYc6cXVwCpasp71D7gLAAWHx6YnDAEfVF8fVmwJJjeR99mRshQGrCERQmsl\" style=\"\" rel=\"noopener\">e<\/a> with officials from the College Board to discuss the return of SAT exams for American diploma students in Egypt, with both sides now working toward setting up regulatory frameworks to administer the SAT and other standardized tests to ensure equal access for students. College Board\u2019s director for the MENA region Matthew Chovanec confirmed the institution\u2019s readiness to support the Education Ministry\u2019s efforts and implement procedures to ensure the accuracy of the SAT exams and determine mechanisms for conducting them.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While the Education Ministry does not provide regulatory oversight for foreign<\/strong> <strong>certificates<\/strong>, ongoing efforts to ensure the integrity of the digital system for conducting the exams is the main reason the SAT is expected to return to Egypt in 2025, a ministry source told EnterpriseAM. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The suspension of the examination damaged the reputation of the American diploma<\/strong>, the source noted, pointing out that the ministry had to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99fb4679-2872-47b0-a9a2-c849bbfeabc7\/last-night%25e2%2580%2599s-talk-shows-on-22-september-2020\" style=\"\" rel=\"noopener\">intervene<\/a> to assist the approximately 60k students enrolled in American diploma programs by using alternative exams \u2014 like the ACT and EST \u2014 to facilitate their admission into Egyptian universities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The return of the SAT represents a return to normalcy for the American diploma:<\/strong> The return of SAT exams to Egypt could help solve a number of issues for students who obtained the EST certificate, many of whom had to go through the onerous process of obtaining equivalency certificates to ensure their acceptance into some universities, Alomran Smart Language Schools Chairman Saber Omran told EnterpriseAM. The test\u2019s return could also help restore the reputation of the American diploma in Egypt, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And investments in American education could soon follow:<\/strong> A return to normalcy for the American diploma with the offering of the SAT tests will encourage investors to look into opening more schools offering the American diploma, which have declined in favor of the IGCSE system in recent years. Omran himself indicated that he plans to open a new school offering American education next year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>British education has become a popular choice for Egyptian students:<\/strong> The British IGCSE has gained popularity among students in Egypt due to its standardized and externally graded exams, along with its strong curriculum, Kamal said. Nevertheless, greater diversity in college admissions certificates provides more opportunities for students, he added. Kamal emphasized that while IGCSE students receive quality education, the key factor for university admission lies in passing the qualifying exams required by each university, regardless of which certificate students obtain.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Better foreign education regulation could turn us into an education hub:<\/strong> Improved management of foreign certificates in Egypt could help position the country as an educational hub, attract educational tourism, and prepare Egyptian students with skills suited to the job market. In this regard, the return of the SAT could portend good things to come for our education sector.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Some 42 Egyptian universities rank among the top in the region<\/strong>, securing <a target=\"_blank\" href=\"https:\/\/www.timeshighereducation.com\/world-university-rankings\/2024\/arab-university-rankings#!\/length\/-1\/sort_by\/rank\/sort_order\/asc\" style=\"\" rel=\"noopener\">spots on<\/a><a target=\"_blank\" href=\"https:\/\/www.timeshighereducation.com\/world-university-rankings\/2024\/arab-university-rankings#!\/length\/-1\/sort_by\/rank\/sort_order\/asc\" style=\"\" rel=\"noopener\">the 2024 Times Higher Education Arab University Rankings<\/a>. Cairo University came in eighth place, up from 28th last year. <\/li>\n<li><strong>The American University in Cairo <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fa2be0e2-b0c4-474e-b11f-eea1653aecd9\/auc-receives-largest-gift-in-its-history-from-the%253cmark%253e-sawiris%253c%2Fmark%253e-family\" style=\"\" rel=\"noopener\">received the largest gift in its history<\/a><\/strong> \u2014 estimated at USD 30 mn \u2014 from the Sawiris family. In recognition of the gift, the AUC\u2019s business school has been renamed the Onsi Sawiris School of Business. <\/li>\n<li><strong>Elsewedy University of Technology has partnered with the Texas International<\/strong><strong> Education Consortium and Texas A&amp;M University<\/strong> to offer specialized courses in agricultural engineering technology. (<a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/723.pdf\" style=\"\" rel=\"noopener\">Statement, pdf<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/blackboard\/\">Blackboard<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"656720\" 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\/09\/656720\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-656720\" class=\"content-area-description single-story post-656720 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;\">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;\">10 December (Tuesday): United Bank shares go live on the EGX. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12-21 December (Thursday-Saturday): Turathna handicrafts and heritage exhibition, Egypt International Exhibitions Center, Cairo<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 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: 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;\">1Q 2025: Finance Ministry to launch public consultations on its tax policy document<\/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>Ezz Steel to delist? | New credit rating agency incoming | FX reserves inch up | United Bank to hit the EGX tomorrow<\/p>\n","protected":false},"featured_media":656690,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-656689","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"e627fdf8-ad29-49bf-a59c-38322caa9f23","teaser":"Ezz Steel to delist? | New credit rating agency incoming | FX reserves inch up | United Bank to hit the EGX tomorrow","photo_url":"https:\/\/ent.news\/2024\/2\/94.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>IMF expected to greenlight reform program renegotiations before Christmas break - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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