{"id":657296,"date":"2024-12-18T00:00:00","date_gmt":"2024-12-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=657296"},"modified":"2025-12-18T02:10:11","modified_gmt":"2025-12-18T02:10:11","slug":"is-banque-du-caire-in-play","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/is-banque-du-caire-in-play\/","title":{"rendered":"Is Banque du Caire in play?"},"content":{"rendered":"<section id=\"657298\" 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=\"657298\">\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\/18\/el-khatib-outlines-investment-ministrys-vision\/\">\r\n                            Egypt\u2019s El Khatib outlines Investment Ministry\u2019s vision                        <\/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\/18\/el-khatib-outlines-investment-ministrys-vision\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> 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data-attachment-id=\"657299\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/18\/el-khatib-outlines-investment-ministrys-vision\/1712-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1712.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1712.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1712.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1712.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657298\" class=\"content-area-description single-story post-657298 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-banque-du-caire tag-enterpriseam tag-investment-ministry 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\/.03886f35-45d4-482b-902b-c40a9b97f047.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, all. <\/strong>It\u2019s another busy day for local business news, leaving us with a lot to look forward to \u2014 including renewed chatter about the privatization of Banque du Caire, more support for the hospitality sector, and a forum to lure in US investors. <\/p><p class=\"tag-border-left\">WATCH THIS SPACE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- There\u2019s noise about Banque du Caire this morning<\/strong>, with <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%85%d8%b5%d8%a7%d8%af%d8%b1-%d8%b7%d8%b1%d8%ad-%d8%a8%d9%86%d9%83-%d8%a7%d9%84%d9%82%d8%a7%d9%87%d8%b1%d8%a9-%d9%81%d9%89-%d8%a7%d9%84%d8%a8%d9%88%d8%b1%d8%b5%d8%a9-%d8%ae%d9%84%d8%a7%d9%84-%d8%a7\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> citing unnamed sources as saying that plans are afoot to list the lender in 2H 2025.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re taking that report with a teaspoon of salt: <\/strong>Gulf-based lenders have long shown interest in BdC, with one Emirati bank having made a serious approach pre-covid, only to be rebuffed. We think it likely that Banque du Caire very much remains an acquisition target for ambitious strategics.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s been plenty of Emirati appetite for good Egyptian banking and finance assets: <\/strong>The UAE\u2019s largest lender \u2014 FAB \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8d68b5eb-a11f-4c88-b404-0e64bb3de85d\" style=\"\" rel=\"noopener\">made a run at EFG Hermes<\/a> back in 2022, while Dalia Khorshid has restored Beltone\u2019s mojo, strategic ambitions, and profitability in the two years since the investment bank was acquired by Abu Dhabi\u2019s Chimera. Chimera also took stakes in high-profile non-bank financial services outfits including GB Lease and MNT Investments. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>The (very welcome) strategic alliance between Egypt and the UAE is clearly maturing thanks to investments including Modon-quarterbacked Ras El Hekma and Al Dahra\u2019s ambitious plans in agriculture. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Recent movement on BdC: <\/strong>Prime Minister Moustafa Madbouly last week used a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dea8e346-ad41-4501-829e-eb79835b9e95\/government-to-offer-up-stakes-in-ten-companies-to-strategic-investors-and--on-the-egx-in-2025\" style=\"\" rel=\"noopener\">presser<\/a> to talk up BdC as a privatization target for 2025, noting it as one of 10 names in which the state could offer stakes. He also mentioned Alexbank, which is largely held by Italian lender Intesa Sanpaolo. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our take: Don\u2019t hold your breath for an IPO. <\/strong>Banque du Caire has been a perennial privatization prospect, generally in the context of an IPO. And the state has successfully offloaded a 30% stake in CBE-owned United Bank, which hit the EGX last week following a <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 IPO<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why? <\/strong>There\u2019s a massive difference in size, scope, and ambition between United and BdC. The central bank skilfully cobbled United together from smaller, non-viable institutions as part of a bold cleanup of the sector. BdC is not just one of the nation\u2019s largest lenders, it\u2019s among the crown jewels of the financial system, and the central bank together with management has long invested in preparing it for sale. With the 2025 IPO climate shrouded in uncertainty, the odds of the state getting the best possible valuation (to say nothing of finding a good \u201ccorporate parent\u201d for the bank) would be maximized by selling Banque du Caire to a qualified strategic \u2014 ideally an Emirati one.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- Egyptian-US Investment Forum in the works:<\/strong> Egypt will host the Egyptian-US Investment Forum in 1H 2025 to promote American investment in Egypt, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02tdh3mCYLosumerUCfcCf7RCRxvRXhtoPBVL5A2E1CaL75iy68qTmstXJiGw2hMt6l\" style=\"\" rel=\"noopener\">statement<\/a>. The forum will focus on exploring cooperation in key sectors and showcasing potential investments, namely in the renewables, digital transformation, automotive, and data center sectors. There\u2019s no word yet on the timing or location of the gathering. <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- More support for hospitality players? <\/strong>The Madbouly government is looking into launching a new initiative to support investors looking to set up new hotels in the local market, Tourism Minister Sherif Fathy <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/12\/17\/1854343\" style=\"\" rel=\"noopener\">said<\/a> during a presser yesterday. The initiative is pending discussions with the Finance Ministry and the central bank, seeing as they will be providing the funds needed, he explained. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The government aims to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/60fef4bb-7de6-4a00-bf5a-e9ea88661f8e\" style=\"\" rel=\"noopener\">attract some 25 mn tourists annually<\/a> by 2028. To that end, it plans to add some 240-250k rooms to existing hotel room capacity. That\u2019s at least 20% more than the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ab30ba76-0ab5-4e56-8e3f-6913538a4cb3\" style=\"\" rel=\"noopener\">200k hotel rooms<\/a> that were initially planned. The finance and tourism ministries launched the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bea8025f-3500-43b2-a52b-7fb163b6dca1\/%253cmark%253ehospitality-%253c%2Fmark%253eplayers%25e2%2580%2599-egp-50-bn-subsidized-loan-program-goes-live.-plus:-news-from-accor,-air-cairo,-somabay\" style=\"\" rel=\"noopener\">EGP 50 bn subsidized loan program for hospitality players<\/a> last month. <\/p><p class=\"tag-border-left\">IN THE HOUSE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Investment Minister Hassan El Khatib outlined his ministry\u2019s vision in an <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02zwYaA8uLr4kBNtoycpKRi37RKiiFq2uDnGqHAD1s9Xx5dFhv55bBRXwJxFbqzhWJl\" style=\"\" rel=\"noopener\">address to MPs<\/a><\/strong> yesterday. The ministry\u2019s strategy focuses on creating a more attractive and competitive investment climate, enhancing the role of the private sector in the economy, and boosting exports, he told the House. \u201cWe aim to have Egypt rank among the top 20 countries in terms of foreign trade by 2030 through introducing clearcut measures that will help boost exports to above USD 145 bn,\u201d he said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Acknowledging the problem: <\/strong>\u201cThere are countries near us where a company can come to exist in 24 hours, and that includes Egyptian companies. We suffer from procedural burdens,\u201d El Khatib <a target=\"_blank\" href=\"https:\/\/x.com\/cairo24_\/status\/1868964375002034401\" style=\"\" rel=\"noopener\">told<\/a> MPs. He also pointed to the high cost of imports \u2014 \u201cThe cost of imports in Egypt is 6x that of Morocco and 12x that of India.\u201d <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That\u2019s not all: <\/strong>El Khatib <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/economy\/2024\/12\/17\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B3%D8%AA%D9%87%D8%AF%D9%81-%D9%85%D8%B6%D8%A7%D8%B9%D9%81%D8%A9-%D8%A3%D8%B5%D9%88%D9%84-%D8%A7%D9%84%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%AF%D9%8A-%D8%AE%D9%84%D8%A7%D9%84-%D8%A7%D9%84%D9%81%D8%AA%D8%B1%D8%A9-%D8%A7%D9%84%D9%85%D9%82%D8%A8%D9%84%D8%A9\" style=\"\" rel=\"noopener\">told the House<\/a> that there\u2019s a plan to double the assets and investments managed by the Sovereign Fund of Egypt in the coming period. The move aims to maximise returns from the state\u2019s underutilized assets through innovative management strategies and private sector partnerships.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also from yesterday\u2019s session: <\/strong>MPs preliminary approved the draft Criminal Procedures Law after weeks of discussions. The House will discuss the bill\u2019s articles in upcoming sessions. The House also greenlit a number of draft bills on maritime transport, which we dive into in this week\u2019s Hardhat in the news well, below. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The House will break <\/strong>and reconvene on 29 December. <\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">HAPPENING TODAY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Investors still have two days to grab a piece of Catalyst\u2019s SPAC capital increase: <\/strong>Investors have today and tomorrow to subscribe to Impact investor Catalyst Partners\u2019 SPAC, Catalyst Partners Middle East\u2019 (CMPE) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/add97eb5-5ab0-4599-be02-6e95269ae6e2\/egypt%25e2%2580%2599s-first-spac-looks-to-acquire-qardy-through-share-swap\" style=\"\" rel=\"noopener\">capital increase<\/a>. The offering aims to raise the SPAC\u2019s capital to EGP 235 mn through 22.5 mn shares \u2014 valued at EGP 10 per share \u2014 and was fully covered during its first day, sources close to the transaction told EnterpriseAM. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The SPAC is looking to acquire six to ten companies \u2014 including two fintech and NBFS firms \u2014 the firm\u2019s Chairman Maged Shawky previously said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#2- Foreign ministers of D<\/strong><strong>-8 member states are in town <\/strong>for the D-8 Council of Foreign Ministers Session \u2014 taking place later today \u2014 and the D-8 Summit \u2014 being held on Thursday. Foreign Minister Badr Abdelatty will head the meeting.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the D-8 summi<\/strong><strong>t invitation list:<\/strong> Iranian President Masoud Pezeshkian will be making his first trip to Cairo to attend the summit tomorrow, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/irans-president-make-rare-visit-egypt-d-8-summit-2024-12-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. Palestinian President <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/palembeg\/posts\/pfbid06352QEeuiZgjRryS4CzNH53oCWGGZAmoC43nRx65SFFntRaiswYzqdQsRF1SanLrl\" style=\"\" rel=\"noopener\">Mahmoud Abbas<\/a>, Indonesia\u2019s President <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/indonesias-prabowo-visit-egypt-attend-d-8-economic-summit-2024-12-17\/\" style=\"\" rel=\"noopener\">Prabowo Subianto<\/a>, Pakistani Prime Minister <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/foreignofficepk\/posts\/pfbid02zGZHw26uFwsoND4MpyCn53HWLhXhuMtnAm8quEA3uEfFcQGDfBeTrVR98pxprQw7l\" style=\"\" rel=\"noopener\">Shehbaz Sharif<\/a>, and Bangladeshi Chief Adviser Muhammad Yunus are also confirmed guests attending the summit held in Cairo.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong>Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e84c84d-eb43-46df-8332-095bb0c7755d\/el-sisi-decries-lack-of-international-political-will-to-end-gaza-war-during-arab-summit-in-bahrain\" style=\"\" rel=\"noopener\">took over<\/a> the rotating presidency of the D-8 cooperation and is heading the group until the end of 2025. During its time as president, Egypt aims to set up several networks, including those of economic research centers and diplomatic training centers that will benefit all D-8 member states \u2014 Bangladesh, Indonesia, Iran, Malaysia, Nigeria, Pakistan, Turkey, and Egypt.<\/p><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>The clock is ticking on SIC\u2019s offer: <\/strong>CIRA Education shareholders have 20 working days to respond to Social Impact Capital\u2019s MTO for up to an additional 48.78%, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1640.pdf\" style=\"\" rel=\"noopener\">EGX bulletin (pdf)<\/a>. Shareholders have until 16 January to respond to the offer \u2014 the acquisition will be executed within the five working days that follow.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>SIC has offered to purchase some 284.3 mn of CIRA\u2019s shares at EGP 15 a piece putting the transaction\u2019s value at EGP 4.26 bn. SIC currently holds a 51.2% stake in the country\u2019s leading private education company. The FRA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2551de28-8b02-4f16-83ec-b1cfbaeadcc2\/pif-backed-sic-gets-the-green-light-to-acquire-up-to-100%2525-of-cira-education\" style=\"\" rel=\"noopener\">greenlit the offer<\/a> earlier this week. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><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\"><strong>The Central Bank of Egypt auctioned off EGP 1.9 bn in two- and three-year <\/strong><strong>fixed-rate t-bonds<\/strong> at an average yield of 25.49% for two-year bonds and 24.3% for three-year bonds, according to <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/auctions\/egp-t-bonds-fixed-coupon\" style=\"\" rel=\"noopener\">data<\/a> on the central bank\u2019s website. The auction saw bids worth EGP 36.5 for rates as high as 34%. The amount auctioned off was significantly below the original ask of EGP 17 bn. <\/p><p class=\"tag-border-left\">DATA POINT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Egypt has trimmed its fuel consumption 6% to 171 grams per kWh \u201cover the past few <\/strong><strong>months<\/strong>,<strong>\u201d <\/strong>Electricity Minister Mahmoud Essmat said at the Al Ahram Energy Conference, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0GiHqU8MwjPHGPLMdpy88AWpHx6cwSJCBz4v1VQx39nQV8DF98buFjiohqh9HPoFVl?rdid=BThRssKTMqCkR1sp\" style=\"\" rel=\"noopener\">statement<\/a>. The reduction in demand is saving the country some EGP 1.2 bn on a monthly basis.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Cairo-Jeddah route was the second busiest flight route <\/strong>in the world this year with 5.5 mn passengers travelling the route, according to a OAG\u2019s <a target=\"_blank\" href=\"https:\/\/www.oag.com\/busiest-routes-world-2024\" style=\"\" rel=\"noopener\">Busiest Flight Routes Report<\/a>. The Hong Kong-Taipei route was the world\u2019s busiest route with 6.8 mn passengers. <\/p><p class=\"tag-border-left\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s another cold day in Cairo<\/strong>, with a high of 21\u00b0C and a low of 11\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>It\u2019s almost as cold in Alexandria<\/strong>, with a high of 22\u00b0C and a low of 12\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\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No single story is capturing the attention of the foreign pages this morning <\/strong>\u2014 among those worth noting: <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Japan\u2019s Nissan and Honda are in talks over a potential merger<\/strong>, which could help the auto giants stay resilient in the face of increased competition from EV players. The two sides are expected to ink an MoU soon to officially kick off discussions of \u201cpartnership-broadening steps, including the details of a potential merger.\u201d The news sent Nissan's shares soaring, rising as much as 24%, while Honda\u2019s shares fell as much as 3.4%. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/bb17e194-d518-4f61-8efa-104b2fa0dc81\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/japans-honda-nissan-talks-merger-amid-ev-competition-nikkei-reports-2024-12-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-17\/honda-nissan-said-to-explore-potential-merger-to-take-on-toyota?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/12\/17\/business\/honda-nissan-talks-merger.html\" style=\"\" rel=\"noopener\">NYT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cr56r74214eo\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/business\/2024\/dec\/17\/honda-and-nissan-to-start-talks-on-potential-mega-merger\" style=\"\" rel=\"noopener\">The Guardian<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN NEW YORK- Luigi <\/strong><strong>Mangione has been indicted for the murder of UnitedHealthcare CEO Brian Thompson<\/strong>, facing charges of first-degree murder and terrorism after gunning down Thompson outside a Manhattan hotel earlier this month. The killing, described as a \u201cwell planned attack meant to sow terror,\u201d has sparked public debate about healthcare costs in the US and donations to Mangione\u2019s legal defense fund. Mangione\u2019s extradition hearing is set for Thursday in Pennsylvania, where he is being held on unrelated gun charges. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/suspect-indicted-murder-unitedhealth-executives-killing-cnn-reports-2024-12-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/12\/17\/us\/luigi-mangione-ceo-shooting\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/12\/17\/nyregion\/mangione-first-degree-murder-terrorism.html\" style=\"\" rel=\"noopener\">NYT<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/unitedhealthcare-ceo-killing-luigi-mangione-fccc9e875e976b9901a122bc15669425\" style=\"\" rel=\"noopener\">AP<\/a>) <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2503.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We look at how government efforts to change up maritime transport can impact the sector. <\/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\/banque-du-caire\/\">Banque du Caire<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"657301\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/18\/bp-and-shell-to-add-125-mn-cbf-of-daily-gas-production-in-2026-with-usd-370-mn-project\/\">\r\n                            BP and Shell to add 125 mn cbf of daily gas production in 2026 with USD 370 mn project                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1711.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1711.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1711.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1711.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657301\" class=\"content-area-description single-story post-657301 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-bp tag-egas tag-energy tag-enterpriseam tag-oil-and-gas tag-shell 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\/.93064847-cfbb-4e25-8e5f-53844781c473.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>BP and Shell are working to turn the tap on at their Harmattan field.<\/strong> The Egyptian Natural Gas Holding Company (EGAS) has signed an agreement with global energy giants BP and Shell to begin production from the offshore Harmattan gas field in the Mediterranean by 1Q 2026, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/power\/64127\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%AA%D9%81%D9%82-%D9%85%D8%B9-%D8%B4%D9%84-%D9%88bp-%D8%B9%D9%84%D9%89-%D8%A8%D8%AF%D8%A1-%D8%A5%D9%86%D8%AA%D8%A7%D8%AC-%D8%AD%D9%82%D9%84-%D8%BA%D8%A7%D8%B2-%D8%A8%D8%AD%D8%B1%D9%8A-%D9%81%D9%8A-%D9%85%D8%B7%D9%84%D8%B9-2026\/\" style=\"\" rel=\"noopener\">Asharq<\/a><a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/power\/64127\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%AA%D9%81%D9%82-%D9%85%D8%B9-%D8%B4%D9%84-%D9%88bp-%D8%B9%D9%84%D9%89-%D8%A8%D8%AF%D8%A1-%D8%A5%D9%86%D8%AA%D8%A7%D8%AC-%D8%AD%D9%82%D9%84-%D8%BA%D8%A7%D8%B2-%D8%A8%D8%AD%D8%B1%D9%8A-%D9%81%D9%8A-%D9%85%D8%B7%D9%84%D8%B9-2026\/\" style=\"\" rel=\"noopener\">Business<\/a> reports, citing an unnamed government official. Initial investments in the project\u2019s field operations are estimated to be around USD 370 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The project will be a welcome help for the country\u2019s efforts to close the gap between <\/strong><strong>local supply and demand<\/strong>, with the estimated 125 mn cubic feet (cbf) of daily production capacity set to help reduce the country\u2019s energy import bill \u2014 or at some point hopefully be turned towards export. While the country's daily demand stands at more than 6 bn cbf per day, current domestic daily production stands at 4.3 bn cbf, bolstered by 900 mn cbf of imports, a senior government source <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c44b061e-3fcc-4212-b65a-c76f40613dcf\/oil-ministry-wants-to-see-gas-production-rise-by-400-500-mn-cubic-feet-per-day-by-march\" style=\"\" rel=\"noopener\">recently told<\/a> EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The project \u2014 which will be carried out by the Pharaonic Petroleum Company, a JV between BP and EGAS that operates in the area \u2014 will drill three wells in the area. There are also plans to construct an offshore platform and a 50 km-long gas pipeline to connect to an onshore processing station, the outlet\u2019s source added. Construction is planned to be finished by late 2025, with production pencilled in for the start of 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BP is gearing up for a busy 2025:<\/strong> In addition to its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/704c38d4-245f-48ff-9872-dedd82f25392\/bp-and-adnoc-set-up-arcius-energy-jv-to-ramp-up-egypt-energy-exploration\" style=\"\" rel=\"noopener\">newly-launched JV Arcius Energy<\/a> with Abu Dhabi National Oil Company\u2019s investment arm XRG, the firm is reportedly set to begin drilling two <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/05de06d7-c056-4645-86e6-cceb7c1ce879\/aton-resources-to-launch-gold-extracting-and-processing-facility-in-2026.-plus:%253cmark%253e-bp%253c%2Fmark%253e-to-drill-two-new-wells,-sabbour-consulting-expands-to-ksa,-british-council-promotes-inclusion\" style=\"\" rel=\"noopener\">USD 160 mn exploratory natural gas wells<\/a> in the West Delta at the start of 2025. The firm will invest <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac665409-aa60-44ba-83ae-d2d40e48071f\/bp-to-invest-usd-400-mn-in-two-new-wells.-plus:-agiba,-pickalbatros,-juba,-alexandria-port-authority,-el-araby-group,-carbon-credits\" style=\"\" rel=\"noopener\">USD 400 mn<\/a> to drill two new wells at the Raven natural gas field in its North Alexandria concession during the current fiscal year, according to unconfirmed reports. <\/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\/bp\/\">BP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egas\/\">EGAS<\/a>\n                <!-- <span 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            <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/18\/eva-pharma-brings-locally-produced-insulin-glargine-to-market-for-the-first-time\/\">\r\n                            Eva Pharma brings locally produced insulin glargine to market for the first time in Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/18\/eva-pharma-brings-locally-produced-insulin-glargine-to-market-for-the-first-time\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/695.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"657305\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/18\/eva-pharma-brings-locally-produced-insulin-glargine-to-market-for-the-first-time\/695-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/695.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"695.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/695.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/695.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657304\" class=\"content-area-description single-story post-657304 post type-post status-publish format-standard has-post-thumbnail hentry category-pharma tag-enterpriseam tag-eva-pharma tag-manufacturing tag-pharma 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\/.497b6425-dbd8-4b74-b568-e6342d0c9f66.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Diabetics no longer<\/strong> <strong>have to look abroad for some of their meds. <\/strong>Eva Pharma has started producing and selling locally-manufactured insulin glargine in collaboration with US-based Eli Lilly for the first time in the country, CEO Riad Armanious said at a press conference yesterday attended by EnterpriseAM. The company\u2019s facilities have the capacity to make 80 mn doses annually, the head of the pharma company added. Insulin glargine is synthetic, long-acting version of the human hormone.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The project has been in the works for a while now<\/strong>, with the two companies announcing an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c1a1656e-923d-4a78-9095-b457330669c0\/\" style=\"\" rel=\"noopener\">agreement<\/a> almost exactly two years ago to partner on the project. Under the agreement, Lilly committed to supplying Eva Pharma with the active ingredient used to make insulin at a reduced price, as well as tech transfer to help Eva Pharma manufacture the diabetes meds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s high demand for insulin here at home<\/strong>, as diabetic patients made up approximately 15.5% of Egypt\u2019s adult population as of 2017. The state spends around EGP 3 bn annually on treatments for non-communicable diseases, with diabetes being a primary focus, Health Minister Khaled Abdel Ghaffar said at the press conference<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Insulin sales in the local market reached approximately EGP 1.1 bn by the end of 3Q <\/strong><strong>2024<\/strong>, with some 1.5 mn packs sold, with a compound annual growth rate of 19% over the past five years, Egyptian Drug Authority head Ali Ghamrawy said at the event.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Demand for insulin is high at home and abroad: <\/strong>There\u2019s plenty of demand for insulin exports and the company has already signed MoUs for export to 56 countries, Armanious told EnterpriseAM. Eva Pharma aims to export USD 100 mn of insulin annually by 2030, with the first shipments expected to start within two weeks to Libya and Uganda.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The start of production will see Egypt become a net exporter of insulin glargine<\/strong>, with Eva Pharma\u2019s production line expected to move Egypt from importing 6 mn doses annually to exporting 74 mn doses, according to Abdel Ghaffar. Egypt\u2019s insulin imports amounted to approximately USD 30 mn in the first nine months of 2024, Ghamrawy said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Eva Pharma also has its eye on producing other types of insulin<\/strong> and is awaiting approval from the Egyptian Drug Authority to introduce human insulin injections into the local market. The company is also working with the World Health Organization to obtain pre-qualification for the drug, Armanious told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A big year for Eva Pharma: <\/strong>The firm in October <a target=\"_blank\" href=\"https:\/\/www.gilead.com\/news\/news-details\/2024\/gilead-signs-royalty-free-voluntary-licensing-agreements-with-six-generic-manufacturers-to-increase-access-to-lenacapavir-for-hiv-prevention-in-high-incidence-resource-limited-countries\" style=\"\" rel=\"noopener\">got the license<\/a> to manufacture and supply low-cost versions of lenacapavir \u2014 a prescription used to treat HIV. Eva Pharma was one of a handful of companies granted the license from biopharma company Gilead Sciences to produce and sell the drug in 120 low-income nations. <\/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\/eva-pharma\/\">Eva Pharma<\/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\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"657306\" 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=\"657306\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/18\/korra-energi-to-offer-up-to-20-of-company-in-upcoming-ipo\/\">\r\n                            Korra Energi to offer up to 20% of company in upcoming IPO on the Egyptian Exchange                        <\/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\/18\/korra-energi-to-offer-up-to-20-of-company-in-upcoming-ipo\/\" 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\/18\/korra-energi-to-offer-up-to-20-of-company-in-upcoming-ipo\/')\">\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\/18\/korra-energi-to-offer-up-to-20-of-company-in-upcoming-ipo\/\">\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=Korra Energi to offer up to 20% of company in upcoming IPO&url=https:\/\/enterpriseam.com\/egypt\/2024\/12\/18\/korra-energi-to-offer-up-to-20-of-company-in-upcoming-ipo\/\">\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\/18\/korra-energi-to-offer-up-to-20-of-company-in-upcoming-ipo\/&title=Korra Energi to offer up to 20% of company in upcoming IPO\">\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=Korra+Energi+to+offer+up+to+20%25+of+company+in+upcoming+IPO+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F12%2F18%2Fkorra-energi-to-offer-up-to-20-of-company-in-upcoming-ipo%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\/18\/korra-energi-to-offer-up-to-20-of-company-in-upcoming-ipo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1154.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"657307\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/18\/korra-energi-to-offer-up-to-20-of-company-in-upcoming-ipo\/1154-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1154.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1154.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1154.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1154.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657306\" class=\"content-area-description single-story post-657306 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-energy tag-enterpriseam tag-ipo-watch tag-mena-ipos 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\/.83e89473-2631-4d1a-88ed-80867bdf92f6.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Fresh details about Korra Energi\u2019s planned IPO have begun emerging<\/strong>, with Chairman Ayman Korra telling <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/AsharqbEGY\/posts\/pfbid072x7rR2Mur9R4b9zAjW1s5DTCEH8PuzAdWtKEnb7CpjxcJBiaWVjtTwSkPizo8jSl?rdid=ox8iSKG7iGrirPwu#\" style=\"\" rel=\"noopener\">Asharq Business<\/a> that the energy solutions firm plans to offer up to a 20% stake on the EGX. There\u2019s still no word on how much they\u2019re hoping to raise in the offering.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We also got a more definite timeline for the offering<\/strong>, with Korra pencilling in the first half of 2025 \u2014 meaning that the company isn\u2019t planning to extend its temporary listing period more than the allotted six-month period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company is also currently in the process of selecting an advisor for the planned <\/strong><strong>offering<\/strong>, Korra told the outlet.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Korra Energi last week temporarily <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c9e9345d-ba01-461f-a882-eb0c5ab4bcdf\/%253cmark%253ekorra%253c%2Fmark%253e-energi-temporarily-to-list-shares-on-the-egx-today-ahead-of-upcoming-ipo\" style=\"\" rel=\"noopener\">listed<\/a> 2.3 bn shares at EGP 0.20 each after the bourse\u2019s listing committee approved the move. Korra has six months to launch an IPO under the listing requirements, which also let the company extend the period with prior approval from the authority.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mena-ipos\/\">MENA IPOs<\/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=\"657308\" 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=\"657308\">\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\">FINANCIAL SERVICES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/18\/beltone-leasing-and-factoring-inks-egp-350-mn-agreement-with-sekem\/\">\r\n                            Beltone Leasing and Factoring inks EGP 350 mn agreement with SEKEM                        <\/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\/18\/beltone-leasing-and-factoring-inks-egp-350-mn-agreement-with-sekem\/\" 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\/18\/beltone-leasing-and-factoring-inks-egp-350-mn-agreement-with-sekem\/')\">\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\/18\/beltone-leasing-and-factoring-inks-egp-350-mn-agreement-with-sekem\/\">\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=Beltone Leasing and Factoring inks EGP 350 mn agreement with SEKEM&url=https:\/\/enterpriseam.com\/egypt\/2024\/12\/18\/beltone-leasing-and-factoring-inks-egp-350-mn-agreement-with-sekem\/\">\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\/18\/beltone-leasing-and-factoring-inks-egp-350-mn-agreement-with-sekem\/&title=Beltone Leasing and Factoring inks EGP 350 mn agreement with SEKEM\">\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=Beltone+Leasing+and+Factoring+inks+EGP+350+mn+agreement+with+SEKEM+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F12%2F18%2Fbeltone-leasing-and-factoring-inks-egp-350-mn-agreement-with-sekem%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\/18\/beltone-leasing-and-factoring-inks-egp-350-mn-agreement-with-sekem\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1709.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"657309\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/18\/beltone-leasing-and-factoring-inks-egp-350-mn-agreement-with-sekem\/1709-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1709.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1709.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1709.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1709.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657308\" class=\"content-area-description single-story post-657308 post type-post status-publish format-standard has-post-thumbnail hentry category-financial-services tag-beltone-holding tag-beltone-leasing-and-factoring tag-enterpriseam tag-factoring tag-financial-services tag-leasing 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\/.9a23c4c4-4c4e-40a0-b9f9-8986fd6f3761.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Beltone inks sale and leaseba<\/strong><strong>ck agreement with SEKEM: <\/strong>Beltone Holding subsidiary Beltone Leasing and Factoring has inked an EGP 350 mn sale and leaseback agreement with SEKEM Group, Beltone announced in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1674.pdf\" style=\"\" rel=\"noopener\">press release (p<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1674.pdf\" style=\"\" rel=\"noopener\">df)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The agreement will include the sale and leaseback of SEKEM\u2019s real estate assets to help finance its working capital. The funds will help the organization expand operations as well as its financial capabilities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART: <\/strong>A sale-leaseback agreement is a transaction in which a company sells an asset, such as real estate, to a buyer (generally a financial institution), and then immediately leases it back from the buyer. This allows the company to free up capital tied to the asset while still retaining use and operational control over it. This type of financial arrangement is often used by businesses to generate cashflow, reduce debt, or finance other business activities while maintaining the use of essential assets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cOur collaboration with SEKEM Group reflects Beltone Leasing and Factoring's vision of delivering tailored financial solutions that empower businesses to achieve their objectives. This agreement reinforces Beltone Group\u2019s commitment to support the agriculture sectors in Egypt,\u201d Deputy Head of NBFIs for Leasing, Factoring, and Consumer Finance at<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Beltone Holding Amir Ghannam said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What this means for SEKEM: <\/strong>\u201cThis partnership significantly enhances our financial capabilities, enabling us to support a diverse range of projects across multiple sectors,\u201d SEKEM CEO Helmy Abouleish said. \u201cFurthermore, it empowers SEKEM to accelerate our growth initiatives and drive innovation in our operations. Together, we are dedicated to promoting sustainable development and fostering innovative solutions that benefit our local community,\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Unfamiliar with SEKEM? <\/strong>EnterpriseAM spoke to Abouleish for last week\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eaec7777-860c-44ff-8ab1-a6071d9ba86e\/%253cmark%253esekem%253c%2Fmark%253e-wants-to-make-organic-and-biodynamic-agricultural-egypt%25e2%2580%2599s-industry-standard\" style=\"\" rel=\"noopener\">Going Green<\/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\/beltone-holding\/\">Beltone Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone-leasing-and-factoring\/\">Beltone Leasing and Factoring<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/factoring\/\">factoring<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/leasing\/\">leasing<\/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=\"657310\" 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=\"657310\">\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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/18\/the-sawiris-family-is-looking-to-delist-odh-from-the-swiss-exchange\/\">\r\n                            The Sawiris family is looking to delist ODH from the Swiss Exchange                        <\/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\" 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<\/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\/18\/the-sawiris-family-is-looking-to-delist-odh-from-the-swiss-exchange\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1704.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"657311\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/18\/the-sawiris-family-is-looking-to-delist-odh-from-the-swiss-exchange\/1704-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1704.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1704.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1704.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1704.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657310\" class=\"content-area-description single-story post-657310 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-capital-markets tag-enterpriseam tag-orascom-development 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\/.ab86fe06-145d-44c0-beba-fbe79b0c220f.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Sawiris family wants to delist Orascom Development Holding (ODH) from the <\/strong><strong>SIX Swiss Exchange<\/strong>, with its primary holding company and ODH majority stakeholder LPSO Holding launching a voluntary public tender offer for all of ODH\u2019s publicly held registered shares, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1677.pdf\" style=\"\" rel=\"noopener\">company press release (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links<\/strong> to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The offer: <\/strong>LPSO is offering to pay CHF 5.60 in cash per share, a 40.7% premium on the 60-day volume-weighted average price and a 38.3% premium on Monday\u2019s closing price. LPSO currently holds a 77.5% stake in ODH <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The plan: <\/strong>\u201cAfter settlement of the offer, LPSO intends to propose to a general meeting of ODH that its shares be delisted from SIX Swiss Exchange,\u201d according to the release. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The timeline: <\/strong>The offer will run from 9 January to 5 February, with an additional acceptance period from 12-25 February. The transaction is expected to be settled by 11 March next year. <\/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\/orascom-development\/\">Orascom Development<\/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=\"657312\" 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=\"657312\">\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\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/18\/govt-to-release-30k-vehicles-stuck-at-ports-for-those-with-disabilities\/\">\r\n                            Gov\u2019t to release 30k vehicles stuck at ports for those with disabilities                        <\/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\/18\/govt-to-release-30k-vehicles-stuck-at-ports-for-those-with-disabilities\/\" 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\/18\/govt-to-release-30k-vehicles-stuck-at-ports-for-those-with-disabilities\/')\">\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\/18\/govt-to-release-30k-vehicles-stuck-at-ports-for-those-with-disabilities\/\">\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=Gov\u2019t to release 30k vehicles stuck at ports for those with disabilities&url=https:\/\/enterpriseam.com\/egypt\/2024\/12\/18\/govt-to-release-30k-vehicles-stuck-at-ports-for-those-with-disabilities\/\">\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\/18\/govt-to-release-30k-vehicles-stuck-at-ports-for-those-with-disabilities\/&title=Gov\u2019t to release 30k vehicles stuck at ports for those with disabilities\">\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=Gov%E2%80%99t+to+release+30k+vehicles+stuck+at+ports+for+those+with+disabilities+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2024%2F12%2F18%2Fgovt-to-release-30k-vehicles-stuck-at-ports-for-those-with-disabilities%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\/18\/govt-to-release-30k-vehicles-stuck-at-ports-for-those-with-disabilities\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1706.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"657313\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/18\/govt-to-release-30k-vehicles-stuck-at-ports-for-those-with-disabilities\/1706-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1706.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1706.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1706.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1706.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657312\" class=\"content-area-description single-story post-657312 post type-post status-publish format-standard has-post-thumbnail hentry category-automotive tag-automotive tag-enterpriseam 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\/.b00066d3-3760-48e7-95c8-e3da030f92a3.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Madbouly government will release 30k vehicle<\/strong><strong>s for those with disabilities from <\/strong><strong>ports<\/strong>, a government source told EnterpriseAM. The vehicles have been stuck at ports since the government decided to clamp down on those abusing the facilities granted to vehicle imports to those with disabilities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links<\/strong> to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The Madbouly government has been working to close a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52686cb5-42b5-4f0d-9960-611c7d5304f7\/egypt%25e2%2580%2599s-address-to-the-un-security-council-on-the-gerd-dominated-airwaves-sunday\" style=\"\" rel=\"noopener\">loophole<\/a> that some have used to import cars without paying the necessary fees. Earlier this year, the cabinet <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7dacc3f9-f20d-4a72-a542-4542d2ff95c5\/new-amendments-make-it-tougher-to-take-advantage-of-car-import-facilities-for-those-with-disabilities\" style=\"\" rel=\"noopener\">approved a draft decision<\/a> to amend the executive regulations of the law that governs the rights of people with disabilities, changing up the vehicle import system for those with disabilities, and making it more difficult for people to abuse.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Release now, check later: <\/strong>Authorities are expected to issue a decision for the immediate release of vehicles imported for those with disabilities without waiting for data verification.Cars will be released for individuals with valid medical approvals, but eligibility-checks will take place post-release.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What about cars already imported? <\/strong>People have the chance to regularize the status of their vehicles that were imported taking advantage of facilities targeting those with disabilities. Some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f6a2fff3-4dee-4ab1-b607-3306643cba13\/%253cmark%253e%253c%2Fmark%253eiranian%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253epresident%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ecould%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253etouch%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253edown%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ein%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ecairo%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ethis%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eweek%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">19.7k people have applied<\/a> to regularize the status of their vehicles, paying a combined EGP 2.4 bn in dues \u2014 the government expects to collect over EGP 5 bn in dues. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cars in freezones awaiting buyers: <\/strong>Under the new system, the vehicle cannot be imported from a freezone \u2014 this has left thousands of cars in freezones unsellable, Montasser Zaytoon, member of the FEDCOC\u2019s auto division, told EnterpriseAM. \u201cThe cost of re-exporting the vehicle is very costly \u2014 more expensive than the price of the vehicle itself. <\/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\/automotive\/\">automotive<\/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=\"657314\" 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=\"657314\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/18\/beyti-taps-chris-abboud-as-its-new-general-manager\/\">\r\n                            Beyti taps Chris Abboud as its new general manager                        <\/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\/18\/beyti-taps-chris-abboud-as-its-new-general-manager\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Abboud brings over 20 years of leadership experience in the fast-moving consumer goods sector, with stints at Nestl\u00e9, PepsiCo, and P&G in both emerging and developed markets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abboud takes over from <\/strong><strong>Mark Wyllie<\/strong>, who had headed the company for five years and helped it grow into an increasingly central player in the country\u2019s F&B sector. We sat down with Wylie earlier this year for our Manufacturer of the Month column \u2014 which you can check out <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c149cc6e-3e21-4805-9338-d6fefbfa848a\/manufacturer-of-the-month:-beyti-ceo-mark-wyllie\" style=\"\" rel=\"noopener\">here<\/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\/almarai\/\">Almarai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beyti\/\">Beyti<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                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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=\"657317\" 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=\"657317\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/18\/halliburton-could-invest-more-in-egypts-energy-sector\/\">\r\n                            Halliburton could invest more in Egypt\u2019s energy sector                        <\/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\/18\/halliburton-could-invest-more-in-egypts-energy-sector\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" 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data-attachment-id=\"657318\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/18\/halliburton-could-invest-more-in-egypts-energy-sector\/1700-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1700.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1700.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1700.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1700.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657317\" class=\"content-area-description single-story post-657317 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-aviation tag-cira-education tag-development-finance tag-education tag-energy tag-enterpriseam tag-green-economy tag-oil-and-gas 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\/.455e4831-2606-4955-9c2a-0ed8fcde08d9.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">INVESTMENT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>US oil giant<\/strong> <strong>Halliburton is mulling more investment in the Egyptian market<\/strong>, the company\u2019s President Eastern Hemisphere Shannon Slocum <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid09LjVngaHAd953PQJrrECj4ygJpBxWKqdfPVPhfusy4TsRzrV6bFh4zJbdpfrALpcl\" style=\"\" rel=\"noopener\">said<\/a> during a meeting with Oil Minister Karim Badawi. The company wants to invest more in the sector and is currently evaluating potential investments, Slocum said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Halliburton has been loving Egypt as of late: <\/strong>The firm is reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b3ffb64-4ae1-46a8-935b-567932e3710e\/china%E2%80%99s-new-hope-group-mulls-usd-100-mn-feed-production-complex.-plus:--futurefert,--madinet-masr-%2B-carrefour,-halliburton,-al-kbous-tea,-egyptian-swiss-group,-innovo,-ecaru\" style=\"\" rel=\"noopener\">working to bring three<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b3ffb64-4ae1-46a8-935b-567932e3710e\/china%E2%80%99s-new-hope-group-mulls-usd-100-mn-feed-production-complex.-plus:--futurefert,--madinet-masr-%2B-carrefour,-halliburton,-al-kbous-tea,-egyptian-swiss-group,-innovo,-ecaru\" style=\"\" rel=\"noopener\">gas wells online<\/a> in 1H 2025, as part of its Burullus project in the West Delta. It is also working to finish preparation work on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc282ccf-4479-442d-b6ad-1bbf1f31f4b3\/halliburton-to-bring-four-wells-online-by-december\" style=\"\" rel=\"noopener\">four deepwater gas wells<\/a> by year\u2019s end.<\/p><p class=\"tag-border-left\">INFRASTRUCTURE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One step towards the long-awaited rail link between Egypt and Sudan: <\/strong>The two neighbors inked an agreement to study setting up a rail link between them with KWD 750k (c. USD 2.4 mn) in funding from the <a target=\"_blank\" href=\"https:\/\/www.kuwait-fund.org\/ar\/web\/kfund\/home\" style=\"\" rel=\"noopener\">Kuwait Fund for Arab Economic Development<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1097971982373221?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a>. The two sides will set up a committee to follow up on the study. <a target=\"_blank\" href=\"https:\/\/www.kuwait-fund.org\/ar\/web\/kfund\/home\" style=\"\" rel=\"noopener\"><\/a> <\/p><p class=\"tag-border-left\">AVIATION- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Could foreign airlines start operating domestic flights? <\/strong>The ministries of tourism and aviation are in discussions over potentially allowing foreign airlines to operate domestic flights in Egypt, Tourism Minister Sherif Fathy <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/12\/17\/1854360\" style=\"\" rel=\"noopener\">said<\/a> during a presser yesterday. He explained that the decision would help boost the number of domestic flights operated. <\/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>The<\/strong><strong> government is set to launc<\/strong><strong>h a EUR 271 mn green industry program in 1Q <\/strong><strong>2025<\/strong> to support the industrial sector and help it cut back on carbon emissions with low-interest financing, Egyptian Environmental Affairs Agency CEO Ali Abo Sena told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a7%d9%84%d8%ad%d9%83%d9%88%d9%85%d8%a9-%d8%aa%d8%b3%d8%aa%d8%b9%d8%af-%d9%84%d8%a5%d8%b7%d9%84%d8%a7%d9%82-%d8%a8%d8%b1%d9%86%d8%a7%d9%85%d8%ac-%d8%a7%d9%84%d8%b5%d9%86%d8%a7%d8%b9%d8%a9-%d8%a7\/\" style=\"\" rel=\"noopener\">Al Mal<\/a>. The five-year program will offer financing at rates as low as 3.5% to help reduce harmful emissions, with a focus on critical industries such as fertilizers, steel, cement, and aluminum, according to Abo Sena. The money will come from various international bodies, including the EU, the European Investment Bank, the French Development Agency, and Germany\u2019s KfW Development Bank.<\/p><p class=\"tag-border-left\">EDUCATION- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A step towards more inclusive education: <\/strong>Our friends at CIRA Educations have partnered up with <a target=\"_blank\" href=\"https:\/\/ataafund.com\/\" style=\"\" rel=\"noopener\">Ataa Fund<\/a>, <a target=\"_blank\" href=\"https:\/\/www.fahimfoundation.org\/\" style=\"\" rel=\"noopener\">Fahim Foundation<\/a>, and Safe Egypt to foster \u201cinclusion and safeguarding across educational institutions in Egypt,\u201d according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1672.pdf\" style=\"\" rel=\"noopener\">state<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1672.pdf\" style=\"\" rel=\"noopener\">ment<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1672.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. \u201cThis partnership represents a pivotal step toward transforming education in Egypt \u2026 we are building a sustainable model for inclusion and safety that empowers every student to thrive, regardless of their background,\u201d CIRA Chairman Hassan El Kalla said. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cira-education\/\">CIRA Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"657319\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"657319\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/18\/ma-activity-rebounds-with-usd-3-5-tn-in-transactions-in-2024-ending-two-year-decline-bain\/\">\r\n                            M&amp;A activity rebounds with USD 3.5 tn in transactions in 2024, ending two-year decline -Bain                        <\/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\/18\/ma-activity-rebounds-with-usd-3-5-tn-in-transactions-in-2024-ending-two-year-decline-bain\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1679.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657319\" class=\"content-area-description single-story post-657319 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-ma-watch 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\/.7758d1be-9838-416c-92ca-1a4d8a33c7fa.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Muted growth for M&amp;A activity this year:<\/strong> M&amp;As are expected to end the year with a 15% y-o-y growth to USD 3.5 tn, marking a 7% y-o-y increase in volume, and reversing a two-year decline, Bain &amp; Company says in its latest <a target=\"_blank\" href=\"https:\/\/www.bain.com\/insights\/looking-back-m-and-a-report-2025\/\" style=\"\" rel=\"noopener\">report<\/a>. Still, activity fell short of earlier hopes for a robust recovery, especially with regards to a detente on valuations and regulatory concerns \u2014 prompting dealmakers to become more selective and look for cost synergies amid a higher interest rate environment. Strategic M&amp;A valuations also remained at a historical low, well below public market valuations, which spiked this year. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Middle East played a big role in M&amp;A transac<\/strong><strong>tions throughout the year<\/strong>, with inbound and domestic M&amp;A activity growing 88% y-o-y, totaling USD 36 bn in the first ten months of 2024, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1610.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a> from Bain. This growth has been primarily driven by sovereign wealth funds and government-related entities in Saudi Arabia and the UAE. Middle Eastern acquisitions of European targets also doubled in 2024, with a bigger focus on cost synergies.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong> Globally, private equity transaction value grew by 29% y-o-y, while venture capital showed a similar 30% increase, and corporate M&amp;A is on track to grow 12% y-o-y.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Energy, natural resources and technology were the biggest M<\/strong><strong>&amp;A sectors for the region:<\/strong> The energy and natural resources sector saw transactions grow 140% y-o-y, while activity in the technology sector grew 90% y-o-y, and advanced manufacturing services saw an increase of around 300% y-o-y.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>M&amp;As took longer to close due to increased regulatory scrutiny<\/strong>, which extended acquisition timelines in 2024, with nearly 47% of dealmakers saying that regulatory concerns influenced their acquisition considerations. The Middle East became a good region for M&amp;A activity due to its comparably favorable regulatory environment, Bain said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Smaller M&amp;A transactions accounted for the lion\u2019s share of activity: <\/strong>Transactions valued at less than USD 1 bn accounted for 95% of all activity, with volume growing for the first time in four years. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Scale deals \u2014 where companies target a bigger market share thro<\/strong><strong>ugh an acquisition \u2014 accounted for 59% of total global transaction value,<\/strong> marking the highest proportion since 2015. This trend was also prominent in the Middle East as firms sought to consolidate their leading positions in key sectors.<\/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 yet again<\/strong> as traders await interest rate decisions from Japan and China. Japan\u2019s Nikkei is down 0.4%, while the broad-based Topix is up marginally. Meanwhile, South Korea's Kospi is up 0.6%. <strong>Over on Wall Street<\/strong>, futures are up marginally after another losing session for the Dow Jones, Nasdaq, and S&amp;P 500. <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,602<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +22.9%)<\/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>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 50.73<\/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 50.86<\/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>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 50.73<\/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 50.83<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">28.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,949<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.2% (YTD: +0.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,261<\/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: -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\">5,080<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +25.1%)<\/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>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\">6,051<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +26.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,195<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: +6.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,943<\/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: +9.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 73.33<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 3.31<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,662<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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>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 106,038<\/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\">0.0% (YTD: +152%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 0.6% at yesterday\u2019s close<\/strong> on turnover of EGP 3.6 bn (14.6% below the 90-day average). International investors were the sole net buyers. The index is up 22.9% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>GB Corp (+10.1%), Oriental Weavers (+4.0%), and AMOC (+2.5%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Abou Kir Fertilizers (-3.6%), Palm Hills (-2.7%), and ADIB (-2.4%). <\/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\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"657321\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">11<\/div>\r\n    \r\n                        <p class=\"f-graphik\">HARDHAT<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/the-government-is-pushing-for-maritime-amendments-that-could-have-a-big-effect-on-the-sector\/\"> \r\n                            The government is pushing for maritime amendments that could have a big effect on the sector<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/the-government-is-pushing-for-maritime-amendments-that-could-have-a-big-effect-on-the-sector\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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But alongside these efforts, the state is also trying to amend the existing legislative framework, which industry insiders told us has prevented the sector from growing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The gov\u2019t introduced three laws that will significantly change the sector \u2014<\/strong> the Maritime Trade Law, Ship Registration Fees, and the Maritime Inspection Law \u2014 which we were told will have a big impact on the sector. <strong>And just yesterday, the House gave the final thumbs up to all three of them.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The amendments will allow leased and foreign ships to fly the Egyptian flag<\/strong>, which will contribute to increasing the number of ships flying the flag around the world and drive private sector investments moving forward, head of the Federation of Egyptian Industries\u2019 maritime transport division, Ibrahim El Dessouky told EnterpriseAM. Egypt\u2019s maritime laws previously imposed strict restrictions on flying the Egyptian flag, which would often lead to private sector-owned Egyptian ships registering under foreign flags such as those of Cyprus, Malta, Greece, and Panama, El Dessouky said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some in the industry are hopeful<\/strong>, with one source in the maritime sector telling EnterpriseAM that the legislative amendments will help strengthen and rebuild Egypt\u2019s fleet and establish a system to transport strategic goods without relying on international shipping agencies. \u201cWe have not taken advantage of our potential, nor has Egypt's geographical location revealed its secrets to driving development in the country. For years, we have relied on limited services provided at scattered ports \u2014 however, the current plan will see unprecedented improvements in the commercial maritime transport sector with Europe, Asia, and Africa,\u201d the source said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ships will want to fly the Egyptian flag to benefit from being able to refuel ships in EGP<\/strong>, El Dessouky told us. This will apply to all ports except those located in the Suez Canal Economic Zone (SCZone), where the law requires ships to pay international fuel prices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egyptian ships will also have priority access to container terminals,<\/strong> contracts with government entities to transport their goods, reduced docking fees, and a number of other services in local currency. This is a far cry from how Egyptian ships would operate just one year ago, when they would seek logistical services and refueling in Cyprus, El Dessouky told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The amendments also include a cap on registration fees, <\/strong>with the fee required to register new ships slashed \u2014 a move that El Dessouky tells us represents a significant breakthrough for the sector. Previously, registering new vessels required the entities to go through the real estate registration process and pay 1.5% of the ship\u2019s value \u2014 which could exceed EGP 500 mn. This led many to avoid increasing their fleet or purchasing new vessels, El Dessouky added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The amendments will also allow shipowners to register used ships that are in good<\/strong><strong> condition<\/strong>, El Dessouky said, with the law raising the maximum age to 25 years. The new regulations will also reduce the cost of importing strategic goods needed by Egypt, paving the way for increasing the number of bulk ships available in Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign investment will also have a key role to play in the goal of turning Egypt into a global <\/strong><strong>trade and logistics hub<\/strong>, with the government trying to channel this interest into the development of port' infrastructure, superstructure, and informational systems to facilitate the movement of trade, in addition to establishing new logistics areas.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Work is also underway to strengthen the national commercial maritime fleet<\/strong>, with the Transport Ministry contracting an unnamed firm to build four new ships to strengthen the fleet of state-owned Alkahera Company for Ferries and Maritime Transport and the National Navigation Company. The efforts are part of the government\u2019s efforts to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/60bf2cb3-b9e6-4f2a-88b3-b8f91aa15983\/italy-bound-shipment-times-cut-by-more-than-half-thanks-to-newly-launched-ro-ro-line\" style=\"\" rel=\"noopener\">increase the fleet<\/a> from 20 to 36 vessels by 2030, capable of transporting 25 mn tons of goods annually, Madbouly said last month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A strong maritime fleet would enable Egypt to import goods at better prices<\/strong>, with the shipping cost for a container currently lying between USD 12-15k, Federation of Egyptian Chambers of Commerce\u2019s transport and logistics division head Amr El Samdouni said. Expanding Egypt\u2019s commercial fleet will increase its ability to transport larger amounts of goods, which is particularly important during a time when major shipping agencies are overcharging freight rates and delaying delivery, which raises the price of goods, El Samdouni added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This could boost trade and maritime transport opportunities for Egyptian companies in <\/strong><strong>African markets,<\/strong> El Samdouny said, as across the continent suffer from poor road infrastructure. Egypt targets increasing its exports to African markets to USD 15 bn by 2025, he continued.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While the amendments were cause for celebration, more could be done<\/strong>, industry insiders told us. The private sector still needs more procedural flexibility, Dessouky told us. \u201cWe met last week with a large number of companies operating in the shipbuilding sector and are currently preparing an urgent memorandum with additional demands that, alongside the legislative framework, will bring an unprecedented boom in attracting global entities and developing the private sector,\u201d he said. These demands include:<\/p>\n<ul>\n<li><strong>Transforming shipbuilding areas in Kafr El Sheikh, Rashid, and Suez into industrial zones,<\/strong> including a total of 100 specialized companies;<\/li>\n<li><strong>Allocating industrial land to allow the establishment of naval docks <\/strong>along Egypt\u2019s coasts;<\/li>\n<li><strong>Facilitating the sector's inclusion in the government\u2019s low-interest financing initiative,<\/strong> which offers loans at a 15%interest rate for manufacturers;<\/li>\n<li><strong>Unifying jurisdiction over shipbuilding areas<\/strong> to be under the Industrial Development Authority;<\/li>\n<li><strong>Reducing fees and taxes to encourage private sector investments,<\/strong> aiding in establishing docks, exporting shipbuilding services, and increasing the overall size of our fleet.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Arab Contractors to study 194-kilometer road rehabilitation project in the<\/strong><strong> Central African Republic<\/strong> under an MoU <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02qrVh17zbB9NYKFo1eRjv2pPp44pkqMx92gGfHCmSQRnsQr39JyYg1kTuVpSDUwrol\" style=\"\" rel=\"noopener\">inked<\/a> between the state-owned company and the African government. <\/li>\n<li><strong>Africa\u2019s first large-scale shipbreaking yard should hopefully soon be arriving in<\/strong><strong> Egypt<\/strong>, with the state-run Holding Company for Maritime and Land Transport and El Garhy Steel\u2019s Wehda Industrial Development jointly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/124d794b-2e0e-4e94-8c48-a35c2cb622b4\/el-wehda-and-state-entity-form-jv-to-build-region%E2%80%99s-first-large-scale-shipbreaking-yard\" style=\"\" rel=\"noopener\">establishing<\/a> a company to pursue the project that will also repair and build vessels.<\/li>\n<li><strong>Egypt and France signed an action plan to set up Cairo Metro Line 6<\/strong>, which will see Egis and Setec submit the technical specifications <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4b53d967-f51a-43a4-93e9-2bc709fe4b9f\/cairo-metro-line-6-to-move-forward-following-action-plan-agreement-with-france\" style=\"\" rel=\"noopener\">required to implement<\/a> the project to the National Authority for Tunnels for review.<\/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\/hardhat\/\">Hardhat<\/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\/maritime\/\">maritime<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\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=\"657323\" 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\/18\/657323\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-657323\" class=\"content-area-description single-story post-657323 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;\">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;\">17-18 December (Tuesday-Wednesday): US Federal Reserve\u2019s Federal Open Market 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: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;\">22 December (Sunday): Waha Connect 2024, New Assiut Technology Park, 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;\">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>14 January (Tuesday): The 4th edition of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/share\/v\/1GhaaZRjmj\/\" style=\"\">Egypt Economic Summit<\/a><\/span><span style=\"font-weight:400;\"> will 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;\">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;\">28-29 January (Tuesday-Wednesday): US Federal Reserve\u2019s Federal Open Market Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>17-19 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypes.com\/conferences\/technical-conference\/?utm_content=&CNAME=Enterprise%20Mea&CID=&utm_campaign=TC%20Speaker%20Announcement&utm_medium=email&utm_source=Adestra\" style=\"\">EGYPES Technical Conference<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibition Center, 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;\">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:700\">May 2025:<\/span><span style=\"font-weight:400;\"> French rolling stock manufacturer Alstom will submit technical and financial bids for Cairo Metro Line 6. <\/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;\">Early 2025: The Communications Ministry will unveil the second edition of its national AI strategy in early 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;\">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>1H 2025: The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02tdh3mCYLosumerUCfcCf7RCRxvRXhtoPBVL5A2E1CaL75iy68qTmstXJiGw2hMt6l\" style=\"\">Egyptian-US Investment Forum<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight: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;\">2Q 2025: Financial Regulatory Authority (FRA) to introduce derivatives 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;\">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: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;\">2025: Release of the government\u2019s Startup Charter 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: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>More gas production | Egyptian insulin | M&#038;A rebound | Sale and leaseback.<\/p>\n","protected":false},"featured_media":657297,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-657296","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"1526e1b8-5f0a-4ee5-8dff-40ce17d2d12a","teaser":"More gas production | Egyptian insulin | M&A rebound | Sale and leaseback.","photo_url":"https:\/\/ent.news\/2024\/12\/1707.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>Is Banque du Caire in play? - 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\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/is-banque-du-caire-in-play\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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