{"id":665283,"date":"2025-05-15T00:00:00","date_gmt":"2025-05-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=665283"},"modified":"2025-12-18T05:22:03","modified_gmt":"2025-12-18T05:22:03","slug":"behind-the-scenes-of-the-imfs-fifth-review-of-our-loan-program","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/behind-the-scenes-of-the-imfs-fifth-review-of-our-loan-program\/","title":{"rendered":"Behind the scenes of the IMF\u2019s fifth review of our loan program"},"content":{"rendered":"<section id=\"665285\" 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=\"665285\">\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\/2025\/05\/15\/sat-testing-resumes-in-june\/\">\r\n                            SAT testing resumes in June                        <\/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\/2025\/05\/15\/sat-testing-resumes-in-june\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-image-title=\"737.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/737.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/737.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-665285\" class=\"content-area-description single-story post-665285 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-education tag-enterpriseam 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\/2025\/5\/.09ad1b0f-adf2-48f9-99c5-564396326009.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good m<\/strong><strong>orning<\/strong><strong>, all. <\/strong>We wrap up this very long week with a brisk issue. We lead today\u2019s issue with the latest on the fifth review of our IMF loan agreement, a dip in auto prices, and a lot of earnings. <\/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\"> <a id=\"wwtt1\"><\/a> <strong>The SAT is back next month:<\/strong> The SAT college entrance exam will once again be offered in Egypt starting June following an agreement between the Education Ministry and the US-based <a target=\"_blank\" href=\"https:\/\/www.collegeboard.org\/\" style=\"\" rel=\"noopener\">College Board<\/a>, according to a statement from the <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/egypt.moe\/posts\/pfbid02q7fJaqB4SaVVNHxbdJNLkGGsjrc6R38hXMgRaqMSgNwTSsfk4Tzt9xVtdt3YT5ugl\" style=\"\" rel=\"noopener\">ministry<\/a> and another from the <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/USEmbassyCairo\/posts\/pfbid02qtezJL8Cvp8bx5146jKnkDvDsj1WBCxUeq6dANuYAiMrDDEJjA2C5p7ginF5wU3ml\" style=\"\" rel=\"noopener\">US Embassy in Cairo<\/a>. The digital version of the standardized test \u2014 a key requirement for admission into many US universities \u2014 is returning after a four-year hiatus and will be offered through approved centers.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> The SATs are globally recognized American admission tests for students applying to undergraduate programs and scholarships, particularly at US universities. The exam was offered in Egypt until September 2020, when College Board <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3eee3536-dce6-4332-923d-5ff1d6a4927b\/what-we%25e2%2580%2599re-tracking-on-sunday,-6-september-2020\" style=\"\" rel=\"noopener\">announced<\/a> that it would cancel the test indefinitely, citing \u201cpersistent test security incidents,\u201d including leaked questions. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WANT THE DETAILS? <\/strong>We dive into what the return of the SAT means in a Blackboard published late last year. Check out the story <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9ca73601-44e7-41eb-a7f9-c1dc0634d447\/the-sats-may-be-returning-to-egypt-in-2025\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>It\u2019s another sunny day in Cairo, with a high of 30\u00b0C and a low of 20\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 a little cooler in Alexandria<\/strong>, with a high of 26\u00b0C and a low of 18\u00b0C.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And over the weekend, <\/strong>expect to see a high of 40\u00b0C and a low of 23\u00b0C in the capital.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p class=\"tag-border-left\">WATCH THIS SPACE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1- Danish s<\/strong><strong>hipping giant Maersk is considering resuming its transits through the Suez <\/strong><strong>Canal<\/strong> as it closely monitors security developments in the Red Sea, Maersk\u2019s Camilla Jain Holtse <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0vxsKcJe7YqiR8r9NogmS17jCWRy7hGZ9pcPt5a74TNo98q7kXCWMVZB5Ch5RS2CFl\" style=\"\" rel=\"noopener\">said<\/a> yesterday. Holtse\u2019s statement came during a meeting with Suez Canal Authority head Osama Rabie, who urged the company to adjust its sailing schedules and gradually resume shipping through the waterway following the recent introduction of a temporary <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/caf84919-971c-47b2-9905-5ed2c7f2a125\/suez-canal-introduces-15%2525-reduction-on-transit-fee\" style=\"\" rel=\"noopener\">15% cut in transit fees<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound familiar?<\/strong> Rabie <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cdc43a00-13dd-47bf-a1a4-7d99260b6aaf\/imf-team-kicks-off-fifth-review-today\" style=\"\" rel=\"noopener\">urged global shipping lines<\/a> earlier this week to reassess their routes and consider a gradual return to the canal amid improving security conditions in the region.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Maersk <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26e50e17-7afe-4390-ad14-52ff4cfc7da1\/\" style=\"\" rel=\"noopener\">paused Red Sea transits<\/a><\/strong><strong> in January 2024<\/strong>, following a brief resumption, due to attacks on commercial vessels by Yemen's Houthi that forced shipping companies to reroute their vessels. The company in February <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a42054dd-a90f-497f-a8a7-a55dd6908875\/\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a42054dd-a90f-497f-a8a7-a55dd6908875\/\" style=\"\" rel=\"noopener\">signaled<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a42054dd-a90f-497f-a8a7-a55dd6908875\/\" style=\"\" rel=\"noopener\"><\/a> that it sees Red Sea traffic recovering by mid-year, with a more substantial rebound by year-end.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Transit receipts from the Suez Canal dropped 62.3% y-o-y to USD 1.8 bn in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c0a2cc8d-588d-4507-ad86-3181558c5899\/current-account-deficit-rises-to-usd-11.1-bn-in-1h-fy-2024-2025\" style=\"\" rel=\"noopener\">1H<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c0a2cc8d-588d-4507-ad86-3181558c5899\/current-account-deficit-rises-to-usd-11.1-bn-in-1h-fy-2024-2025\" style=\"\" rel=\"noopener\">FY 2024-25<\/a> on the back of Red Sea disruptions that pushed ships to reroute away from the canal.<\/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=\"wwtt3\"><\/a> <strong>#<\/strong><strong>2- Progress on the long-awaited Russian Industrial Zone: <\/strong>Egypt and Russia have signed a long-term usufruct agreement granting Russian firms access to land inside the Suez Canal Economic Zone to establish a Russian Industrial Zone, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/egypt-economy\/2025\/05\/14\/%D8%A7%D9%84%D9%82%D8%A7%D9%87%D8%B1%D8%A9-%D9%88%D9%85%D9%88%D8%B3%D9%83%D9%88-%D8%AA%D9%88%D9%82%D8%B9%D8%A7%D9%86-%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D9%8A%D8%A9-%D9%84%D8%AA%D8%AF%D8%B4%D9%8A%D9%86-%D8%A7%D9%84%D9%85%D9%86%D8%B7%D9%82%D8%A9-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D9%8A%D8%A9-%D8%A7%D9%84%D8%B1%D9%88%D8%B3%D9%8A%D8%A9-%D9%81%D9%8A-%D9%85%D8%AD%D9%8A%D8%B7-%D9%82%D9%86%D8%A7%D8%A9-%D8%A7%D9%84%D8%B3%D9%88%D9%8A%D8%B3\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reports, citing comments from Russian Industry and Trade Minister Anton Alikhanov. Under the agreement, a newly established Russian company will manage the project. The Russian side will receive the plot this year to start construction work, he said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Russian side will start promoting the zone to Russian firms this week<\/strong>, the minister said, adding that companies in pharma, chemicals, mechanical engineering, and building materials are among those interested. \u201cWe are pinning our hopes on the construction of the Russian industrial zone inside the Suez Canal Economic Zone, which will undoubtedly allow new joint initiatives to be launched in priority industry branches,\" Alikhanov <a target=\"_blank\" href=\"https:\/\/interfax.com\/newsroom\/top-stories\/111423\/\" style=\"\" rel=\"noopener\">said<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A long time coming: <\/strong>We have been on the lookout for news on the Russian Industrial Zone for years now \u2014 with the final contract for the project inked all the way back in 2018.<\/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\">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>#1- Calling all real estate developers and investors:<\/strong> Proptech platform Aqarmap is hosting an Egyptian-Saudi real estate summit in Cairo\u2019s Nile Ritz-Carlton on Sunday, 18 May, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/720.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The event will bring together developers, investors, and policymakers from Egypt and Saudi Arabia to discuss cross-border investment, market trends, and digital transformation in the sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- ITIDA\u2019s Software Engineering Competence Center (SECC) will host its <\/strong><strong><a target=\"_blank\" href=\"https:\/\/secc.org.eg\/English\/mediacenter\/events\/Pages\/Software-Testing-Day-3rd-Edition.aspx\" style=\"\" rel=\"noopener\">Software Testing<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/secc.org.eg\/English\/mediacenter\/events\/Pages\/Software-Testing-Day-3rd-Edition.aspx\" style=\"\" rel=\"noopener\">Day<\/a><\/strong><strong> on Monday, 19 May<\/strong> at the Creative Innovation Hub, Creativa, in Giza. The event will be held under the theme \u201cSoftware Testing Evolution: Innovating with AI and DevOps\u201d and will bring together local and international experts and tech leaders to discuss AI, DevOps integration, skill building, and talent cultivation. You can register to attend through the <a target=\"_blank\" href=\"https:\/\/secc.org.eg\/English\/Pages\/SECC-Event-Registration.aspx\" style=\"\" rel=\"noopener\">link<\/a> available on the SECC\u2019s website. <\/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\">THE BIG STORY ABROAD-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US President Trump landed in Qatar<\/strong>, where he met with Emir Tamim bin Hamad. The visit saw <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/05\/14\/us\/politics\/qatar-airways-boeing-jets.html\" style=\"\" rel=\"noopener\">the signing of USD 243 bn in agreements<\/a> (per White House tally), including defense purchases for drone and counter-drone capabilities from US companies, Qatari investments at Al Udeid Air Base, and a tall, USD 96 bn order for up to 210 Boeing jets.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The President is set to land in the UAE today for the third and last stop<\/strong> that is set to conclude his four-day Middle East trip with more investments and partnerships agreements signed.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Trump earlier met with Syrian President Ahmed Al Sharaa <\/strong>just before the GCC summit in Riyadh, while Turkey\u2019s President Erdogan joined over the phone. Trump urged Al Sharaa to join the so-called Abraham Accords, while the latter invited American companies to invest in Syria\u2019s oil and gas, US Press Secretary <a target=\"_blank\" href=\"https:\/\/x.com\/PressSec\/status\/1922567846317392240\" style=\"\" rel=\"noopener\">said<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Trump and Russia\u2019s Putin will be <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/putin-trump-skip-ukraines-peace-talks-that-russian-leader-proposed-2025-05-14\/\" style=\"\" rel=\"noopener\">skipping the first direct peace talks<\/a><\/strong><strong> to be held in Turkey today<\/strong>, with Russia opting to send a group of technocrats instead. The talks \u2014 proposed by Putin \u2014 are unlikely to see a breakthrough in the absence of the two leaders.<\/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\/education\/\">Education<\/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=\"665287 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"665287\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/15\/665287\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-665287\" class=\"content-area-description single-story post-665287 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.thetrifactory.com\/SomabayEnduranceFestival2025\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1206.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span><a href=\"https:\/\/www.thetrifactory.com\/SomabayEnduranceFestival2025\" target=\"_blank\" rel=\"noopener\">The Somabay Endurance Festival<\/a> returns for its 7th edition from Thursday, May 29 to Saturday, May 31, 2025, at the Red Sea. Organised by The TriFactory, the event features Super Sprint, Sprint, Olympic, Youth, 1K Kids, and 10K races\u2014uniting athletes of all ages for a weekend of competition, fitness, and fun at Somabay.<\/span><\/p>\n<\/div>\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=\"665288\" 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=\"665288\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/15\/how-is-the-imfs-fifth-review-of-our-loan-program-unfolding\/\">\r\n                            How is the IMF\u2019s fifth review of our loan program unfolding?                        <\/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\/2025\/05\/15\/how-is-the-imfs-fifth-review-of-our-loan-program-unfolding\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The Fund is looking to ensure the stability of the government\u2019s general budget in the face of any changes that may take place in the global scene, the source added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> A team from the IMF <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a66c6b58-7fdf-410b-a82d-eaf3fb53715e\/%253cmark%253eimf%253c%2Fmark%253e-begins-fifth-review-of-our-loan-program-this-week\" style=\"\" rel=\"noopener\">arrived<\/a> in Cairo late last week, and its agenda includes meetings with officials from the central bank, and the finance, investment, and international cooperation ministries. Once the mission reviews and analyzes the data, a full IMF delegation will arrive to complete the review and issue its report on whether Egypt has passed the fifth review, which will be submitted to the IMF\u2019s Executive Board for approval, bringing in some USD 1.3 bn into state coffers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IMF wants to see some improvements on the privatization front:<\/strong> Among the Fund\u2019s demands is an accelerated <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/97a9e9f2-a50c-4b34-9748-6c28a0cf6397\" style=\"\" rel=\"noopener\">implementation<\/a> of the state ownership policy, and having the state adhere to a timetable for its exit from economic sectors in line with percentages in the IMF-approved document.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> The Fund wants to see Egypt secure its FX needs through clear USD inflows that can ensure the stability of the exchange rate in the face of any global shocks, the source said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Recent external challenges represent a \u201ctest\u201d for the economy:<\/strong> While the Fund expressed its understanding of the recent changes affecting the region and the world at large \u2014 and their direct and in-direct repercussions on Egypt\u2019s economy \u2014 it indicated that it sees these challenges as an opportunity to assess the resilience of Egypt\u2019s economy after it made significant headway in its reform program.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What the Fund is looking for:<\/strong> Resilience and the sustainability of growth and the government\u2019s targets were cited as the main criteria for the fifth review of our program with the IMF. The government\u2019s debt ceiling and its investments are among the main points of the discussion, the source added, saying that the Fund wants to ensure that the budget does not once again become overly involved in implementing public investments, and that it wants to see more public-private partnerships instead.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> The state set a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4286f10b-5618-426b-87de-d53d22d9591a\" style=\"\" rel=\"noopener\">cap<\/a> of EGP 1 tn on public investments for all state entities, which then-Finance Minister Mohamed Maait said would help create \u201cspace for the private sector and increase its investments in the economy.\u201d The government also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/85b196fa-c8a5-4126-9ab8-f6c973124a75\/madbouly-cabinet-approves-draft-law-regulating-biosecurity-facilities,-government-body%253cmark%253e-debt%253c%2Fmark%253e-ceiling,-and-working-days-for-banks-in-ports\" style=\"\" rel=\"noopener\">set a ceiling for its public debt<\/a>, through which it aims to protect the budget from slipping into a wide deficit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As for subsidies<\/strong>, the situation is currently more stable in light of global price levels for basic commodities \u2014 and could remain so if the prices of food and fuel remain at their current levels for a longer period this year, the source said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The government cut down on fuel subsidies once again <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a9f5df8f-c96f-419c-ad3a-98ea585d16c7\/gov%25e2%2580%2599t-hikes%253cmark%253e-fuel%253c%2Fmark%253e-prices-by-up-to-14.8%2525\" style=\"\" rel=\"noopener\">last month<\/a> when it raised prices by 11.8-14.8%. This came shortly after Prime Minister Moustafa Madbouly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6d01a66f-0aec-45b9-9ebb-73a3b2ef476b\" style=\"\" rel=\"noopener\">reiterated<\/a> the country\u2019s intention to have energy prices reach cost recovery levels by the end of the year by phasing out all fuel subsidies in line with its structural reform agenda with the IMF.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also on the agenda:<\/strong> Investment and tax incentives, as well as foreign financing also saw extensive discussions between officials and members of the Fund's mission, according to the source.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What's next?<\/strong> The results of these meetings will either lead to the conclusion of the fifth review or will see a request for more time and another visit from an IMF mission to conclude the review, the source said. The date for the conclusion of the review and the subsequent disbursement of the USD 1.3 bn tranche is yet to be decided, but it could be agreed upon within the next month, our sources told us last week.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"665290\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, 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                  <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/15\/auto-prices-drop-15-amid-high-inventory-sluggish-demand\/\">\r\n                            Auto prices drop 15% amid high inventory, sluggish demand                        <\/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\/2025\/05\/15\/auto-prices-drop-15-amid-high-inventory-sluggish-demand\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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href=\"https:\/\/api.whatsapp.com\/send?text=Auto+prices+drop+15%25+amid+high+inventory%2C+sluggish+demand+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F05%2F15%2Fauto-prices-drop-15-amid-high-inventory-sluggish-demand%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\/2025\/05\/15\/auto-prices-drop-15-amid-high-inventory-sluggish-demand\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1245.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"665292\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/15\/auto-prices-drop-15-amid-high-inventory-sluggish-demand\/1245-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1245.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1245.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1245.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1245.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-665291\" class=\"content-area-description single-story post-665291 post type-post status-publish format-standard has-post-thumbnail hentry category-automotive tag-automotive tag-enterpriseam tag-exchange-rate 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\/2025\/5\/.efa93b1d-3242-464e-bf22-1e769871d1af.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Several <\/strong><strong>auto distributors have slashed prices on select models by 5-15% in a bid to <\/strong><strong>increase sales<\/strong> amid sluggish demand on cars in the country, industry sources told EnterpriseAM. The markdowns come as distributors look to clear out last year\u2019s inventory ahead of new model launches expected in August.<\/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 price cuts come amid<\/strong><strong> a mild recovery in auto sales<\/strong>, which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8aebf897-b1e5-477e-b4a0-b8bc68070190\/january%25e2%2580%2599s-auto-sales-dip-from-two-year-high-seen-in-december\" style=\"\" rel=\"noopener\">took a 22% hit<\/a> in January, before slightly recovering in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ab8facb7-6d48-45de-893b-f382ea6361a1\/auto-sales-edge-up-in-february-after-january-slump\" style=\"\" rel=\"noopener\">February<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/156cd5cf-295a-4ddc-8872-15e1d6a0385f\/egypt%25e2%2580%2599s-auto-sales-edge-up-1.8%2525-m-o-m-in-march\" style=\"\" rel=\"noopener\">March<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sources told us that a number of distributors brought in large shipments late last year<\/strong>, misjudging demand. With the market still in a wait-and-see mode, many consumers are holding off on purchases, anticipating further interest rate cuts as the Central Bank of Egypt moves deeper into its monetary easing cycle.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Imports are back in full swing:<\/strong> A local agent told us that import activity has normalized, allowing for greater availability of models from Europe, Japan, and China. Sources told EnterpriseAM in December that car dealers will be looking to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0edffdac-e185-45d2-b6a0-a53b492d06c5\/gov%25e2%2580%2599t-imposes-new-personal-car-import-rules-to-curb-usd-outflows-%2B-car-dealers-to-import-usd-1.8-bn-worth-of-cars-next-year\" style=\"\" rel=\"noopener\">import some USD 1.8 bn<\/a> worth of cars in 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The localization drive <\/strong><strong>shifts demand dynamics:<\/strong> Local carmakers have also pulled some buyers away from high-priced imports, head of the Association of Automobile Manufacturers Khaled Saad told EnterpriseAM. Locally assembled models like the Proton Saga, Chevrolet Optra, and Hyundai Accent are gaining popularity, pushing importers to slash prices to stay competitive.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But don\u2019t ove<\/strong><strong>rstate the impact of local production:<\/strong> Federation of Chambers of Commerce\u2019s auto division member Montasser Zaytoon told EnterpriseAM that local manufacturing has had a limited effect on market dynamics, due to the small production volumes and inability to meet demand in the mid-range segment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No more <\/strong><strong>markups:<\/strong> Prices have broadly corrected across the board, with overpricing \u2014 in which dealers tacked on premiums of EGP 100-200k on some models \u2014 becoming a thing of the past as supply outpaces demand. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Used car prices tak<\/strong><strong>e a hit:<\/strong> Reduced pricing in the new car market has spilled over to used cars, with some losing 20-25% of their value compared to last year\u2019s peaks, according to our sources. The secondhand market had stepped in to fill the supply gap when imports were constrained by FX shortages, but is now rebalancing itself with market dynamics.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More competition <\/strong><strong>on the horizon:<\/strong> More locally assembled vehicles \u2014 including models from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e231a5e8-5a06-41ad-9464-d0385800c699\" style=\"\" rel=\"noopener\">El Nasr Automotive<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/652d5697-3a52-404a-9158-47bbc5fa9b0c\/gov%25e2%2580%2599t-looks-into-exempting-imported-auto-parts-from-state-development-fee\" style=\"\" rel=\"noopener\">Kasrawy Group<\/a> \u2014 are expected to hit the market starting July, according to our sources. The move is expected to increase competitive pricing as consumers will have more options.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Watch out f<\/strong><strong>or the exchange and interest rates:<\/strong> Exchange rate fluctuations and changes in interest rates will continue to play a key role in shaping auto pricing trends moving forward, one industry insider told us.<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/exchange-rate\/\">exchange rate<\/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=\"665293 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"665293\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/15\/665293\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-665293\" class=\"content-area-description single-story post-665293 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.eg\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2099.jpg?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=\"665294\" 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=\"665294\">\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\">Real estate<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/15\/a-discussion-with-aqarmap-ceo-aya-ashraf\/\">\r\n                            A discussion with Aqarmap CEO Aya Ashraf                        <\/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\/2025\/05\/15\/a-discussion-with-aqarmap-ceo-aya-ashraf\/\" 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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We sat down with CEO Aya Ashraf (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/aya-ashraf-b87b2561\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) to learn more about Aqarmap's vision and future plans. Ashraf has been with company since 2018 and became CEO last October \u2014 she joined the company as a seasoned professional with a background in e-commerce. Below are edited excerpts from our conversation:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM: Aqarmap serves mns on a monthly basis, who are you mainly targeting?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aya Ashraf:<\/strong> Our clients are real estate developers, real estate marketers \u2014 who represent the largest segment \u2014 and finally, individuals looking to sell or lease their properties. The common goal among these three categories and us is to serve the end-client who is searching for a property to buy or rent. Fourteen years ago, people had to physically go out to search for a property. Now, a large percentage of them go online first to check prices, conduct their research, and communicate with advertisers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What other products do you offer to developers?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AA:<\/strong> Our motto is \u201cKnow More.\u201d We don't just offer listings for units; we provide information that helps you, whether you are a user, an agent, or a developer. One of our most important services is market research. We have supply and demand data, and we understand market trends thanks to the analysis of user behavior. Developers need this insight from us to know what the market demands.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: You're hosting a real estate summit in the coming days, prior to which you will take tens <\/strong><strong>Saudi developers on a tour around Egypt. What's the idea behind that?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AA:<\/strong> We operate in both Egypt and Saudi Arabia. Saudi Arabia is a promising market that is developing rapidly, and they excel in some aspects, while Egypt excels in developing large-scale, city-like residential projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>At the request of Saudi developers, we are organizing a tour for them of the most <\/strong><strong>important real estate projects in Egypt <\/strong>so they can see them on the ground. This includes meetings with decision-makers in major real estate development companies to learn about their success stories and the services available in their projects, some of which include universities, clubs, hospitals, and residential units. There will be opportunities for partnerships, networking, and sharing experiences. Saudi developers, in turn, also have success stories that can be of use to Egyptian developers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We organized these tours in 2015, 2018, and 2024<\/strong>, and now in 2025 due to increasing demand resulting from the rapid changes in the Egyptian market. Last year's tour was in East Cairo, and this year it's in West Cairo. Real partnerships have emerged from them. We will conclude the tour with a real estate summit on Sunday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: How do you see the local real estate market? And what are the most prominent <\/strong><strong>trends?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AA:<\/strong> We can divide the real estate market into three main sections: The <strong>primary market<\/strong>, which witnessed an unnatural boom in 2022, 2023, and the first quarter of 2024 due to exchange rate instability, which pushed more Egyptians towards real estate as a safe haven. With the stabilization of the exchange rate, demand has receded. Consequently, developers have started offering greater facilities, and we are once again seeing innovative and extended payment plans of up to 10-12 years aimed at attracting wider segments of customers. This decline in demand is due to customers taking their time to compare options following the boom. Today, the market is self-correcting, which is a good sign.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The second section is the <strong>resale market or secondary market<\/strong>, which is proceeding at a normal pace. It has its clientele who prefer to see the property completed before purchasing. With the expected decrease in interest rates, we anticipate more activity in the secondary market, especially if mortgage financing conditions become more lenient.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The third section is the <strong>rental market<\/strong>, which is experiencing a noticeable recovery compared to two or three years ago. This recovery is attributed to several factors, including a decline in purchasing power for some segments who have resorted to renting instead of buying, in addition to urban expansion and the distance between workplaces and residences, and the influx of expats. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Among the most prominent developments in this market <\/strong>at the moment is the ministerial decree regulating licenses for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d79be20f-ab93-4622-afd0-2a8a988eced7\/tbs-holding-eyes-uae-consumer-packaged-goods-company,-ksa-ipo-in-gulf-push.-plus:-domty,-banque-misr,-cira-education,-energean,-heliopolis-housing\" style=\"\" rel=\"noopener\">holiday home units<\/a> \u2014 furnished apartments, villas, and suites rented to tourists. This allows any owner to apply for a license to rent out their unit to tourists as a hotel unit and receive rent in foreign currency. This is a promising step, as it encourages more closed units to be brought onto the market, contributing to price stabilization. It also aligns with the state's plan to attract large numbers of tourists over the next five years, given the difficulty of meeting demand by building new hotels. This initiative will provide good income for both the state and unit owners. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have also begun to see significant growth in specialized property management <\/strong><strong>companies<\/strong>, which handle the management of residential units in terms of cleanliness, organization, and check-in\/check-out processes. This has created a system that allows owners to rent out their units easily. It's an active market that is heading towards further growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: From Aqarmap's perspective, what are the most active areas and property types?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AA:<\/strong> Naturally, the residential sector remains the most in demand, being a basic need. However, we've seen a boom in demand for commercial and administrative units, resulting from the increasing trend towards real estate investment through renting out these types of units. There has also been a noticeable, albeit smaller-scale, trend of buying residential units for the purpose of direct rental. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One of the striking trends<\/strong> is the shift of some tourist demand from traditional areas like Downtown Cairo and Giza to areas such as Sheikh Zayed, 6th of October, and New Cairo. We are also beginning to see entire buildings dedicated to rentals, even within compounds, managed by specialized companies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In terms of areas, Sheikh Zayed and New Cairo are still at the forefront in terms of sales volumes and price growth<\/strong><strong>.<\/strong> They are followed by the new capital and areas surrounding New Cairo like Mostakbal City, which is seeing good demand. In the lower price bracket, we are witnessing high demand in Shorouk, Obour, and Hadayek October. We will detail these indicators in the 2025 version of our annual market trends report, which will be released next month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What about coastal areas?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AA:<\/strong> The biggest demand is still in the North Coast, especially with the anticipated developments in Ras El Hekma. The primary purpose of buying units in the North Coast is no longer just to own a second home; it has become an investment, given the expectations of significant price increases as a result of the planned investments there. Real estate market sales in the second and third quarters of 2025 are expected to be heavily concentrated in the North Coast, especially in the higher price categories. The area is also becoming a hotspot for foreign tourists.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: You\u2019ve been present in the Saudi market for years now, how has your experience been <\/strong><strong>there? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AA:<\/strong> We first entered the Saudi market in 2015 with the same business model used in Egypt, but quickly exited the market due to market conditions and intense competition. We returned to the Kingdom again in 2022 with a new business model based on exclusive cooperation with real estate developers, working with them directly to execute transactions according to specific objectives.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Saudi primary market is currently experiencing the beginning of a huge boom.<\/strong> It enjoys a disciplined legislative structure and an open, albeit highly competitive, market. The availability of government data for all transactions is a factor that makes it easier for developers to analyze the market before making investment decisions, which enhances the chances of success for new projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Can we expect Aqarmap to roll out new products soon?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AA:<\/strong> Yes, we are working on developing new ways to reach potential customers seeing as consumer behavior is changing. Users now don't just go to Google; they go to tools like ChatGPT for research and decision-making. Therefore, we have to evolve and be present on the platforms they use. We are also planning to launch new services this year specifically for individuals, to help them make decisions based on simple comparisons between different offers, payment plans, delivery speed, and more. Ultimately, what's important is that the user finds what they want easily, and that the data is accurate and easily accessible.<\/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\/proptech\/\">proptech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"665296\" 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=\"665296\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/15\/e-finance-fawry-orascom-development-and-more-report-1q-earnings\/\">\r\n                            E-finance, Fawry, Orascom Development and more report 1Q earnings                        <\/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\/2025\/05\/15\/e-finance-fawry-orascom-development-and-more-report-1q-earnings\/\" 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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Earni<\/strong><strong>ngs. <\/strong>Fintech players E-finance and Fawry, developer Orascom Development Egypt, and telecom operator WE all reported their 1Q 2025 earnings. <\/p>\n<p class=\"tag-border-left\">E-FINANCE SEES INCOME, REVENUES RISE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>State-owned fintech giant E-finance saw its net income after non-controlling interest rise <\/strong><strong>30.2% y-o-y<\/strong> to reach EGP 602.3 mn during the first quarter of the year, according to its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/1230.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Consolidated revenues for the quarter jumped 40.9% y-o-y to EGP 1.62 bn, thanks to \u201cbroad-based growth across most of the group\u2019s subsidiaries.\u201d<\/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>Driving the growth: <\/strong>E-finance\u2019s flagship business E-finance Digital Operations contributed 87% of the company\u2019s total revenues for the quarter, with the subsidiary\u2019s top line rising 36.4% y-o-y to EGP 1.4 bn. This was \u201cdriven by solid results across its transaction and cloud hosting revenues\u201d as transaction revenues rose 35.1% y-o-y to EGP 584.1 mn and cloud hosting revenues were up 65.1% y-o-y to EGP 609.7 mn. Revenues also saw solid growth across E-finance\u2019s other subsidiaries, including eNovate, eNable, and eAswaaq. However, eKhalas was the only subsidiary to see a dip in revenues during the quarter, with a 12.6% dip, which came on the back of the \u201crecording of non-recurring POS sales during the comparable quarter in 2024.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong> \u201cOur strong first-quarter performance reaffirms the Group\u2019s solid fundamentals, proven business model, and outstanding talent. As we look ahead, we remain fully committed to our strategic objectives, particularly the acceleration of Egypt\u2019s digital economy. We will continue to identify new high-impact opportunities in financial services, healthcare, and education, while maintaining our disciplined approach to value creation,\u201d Chairman Ibrahim Sarhan said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO FROM E-FINANCE- <\/strong>The fintech giant plans to deploy new investment to expand domestically and abroad, Sarhan told <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/companies\/82824\/%D8%A5%D9%8A-%D9%81%D8%A7%D9%8A%D9%86%D8%A7%D9%86%D8%B3-%D8%AA%D8%AA%D8%B7%D9%84%D8%B9-%D9%84%D9%84%D8%AA%D9%88%D8%B3%D8%B9-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1-%D9%88%D8%AE%D8%A7%D8%B1%D8%AC%D9%87%D8%A7-%D8%A8%D8%AF%D8%B9%D9%85-%D8%B3%D8%B9%D9%88%D8%AF%D9%8A\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The company formed a joint task force with shareholder Saudi Egyptian Investment Company to explore potential investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">FAWRY\u2019S NET INCOME ALMOST DOUBLES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EGX-listed fintech giant Fawry saw its bottom line jump 97.1% y-o-y to EGP 605.4 mn in <\/strong><strong>1Q 2025<\/strong>, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/1235.pdf\" style=\"\" rel=\"noopener\">latest earnings release (pdf)<\/a>. The company\u2019s top line grew 65.1% y-o-y to EGP 1.8 bn during the period, driven by \u201cthe expansion and diversification of the company's business offerings.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Growth across the board:<\/strong> Fawry\u2019s banking services segment \u2014 which contributed nearly 40% of the firm\u2019s revenue for the quarter \u2014 saw its revenues jump 55.9% y-o-y to EGP 712.2 mn. The alternative digital payments segment, which was the second largest contributor to Fawry\u2019s overall revenues, recorded revenues of EGP 462.0 mn, marking a 30.2% y-o-y increase. The financial services segment saw the highest annual growth, jumping 164.2% y-o-y to EGP 460.2 mn, while revenues from supply chain solutions surged 35.3% y-o-y to EGP 102.3 mn during the same period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Moving forward: <\/strong>\u201cWe are advancing our strategy to leverage our big data and AI platform across key areas such as dynamic customer engagement, fraud detection, credit scoring, and code generation. These initiatives aim to deliver more personalized customer experiences, enable behavior-driven decision-making, and boost operational productivity,\u201d CEO Ashraf Sabry said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ORASCOM DEVELOPMENT ENDS 1Q IN THE GREEN- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Orascom Developmen<\/strong><strong>t Egypt recorded a net income of EGP 2 bn in 1Q 2025<\/strong>, marking a \u201cdramatic\u201d recovery from a EGP 1 bn loss recorded during the same period last year, according to the company\u2019s latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/1138.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Revenues rose 54.3% y-o-y to EGP 6.4 bn during the quarter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company\u2019s hospitality segment achieved record revenues during the <\/strong><strong>quarter<\/strong>, rising 68.4% y-o-y to reach EGP 1.2 bn, thanks to El Gouna hotel revenues increasing 67.9% y-o-y to EGP 1.2 bn during the period. The \u201coutstanding performance\u201d in the sector came despite the \u201cchallenging global macro and geopolitical environment, particularly in the Middle East\u201d and \u201cbeing impacted by the Holy Month of Ramadan in March 2025,\u201d the report read.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>Driving the increase was a 48.5% y-o-y jump in commercial assets to reach EGP 950.9 mn and \u201cthe recognition of EGP 1.6 bn derived from the land sale in El Gouna, a transaction executed in late 2024 with Hassan Allam. This significant sale not only bolstered our revenue but also highlighted the value of our strategic asset management.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, real estate revenues saw a decline: <\/strong>The company\u2019s real estate revenues fell 2.7% y-o-y to EGP 2.8 bn during the quarter. The decrease was attributed to a fall in sales to EGP 4.1 bn \u2014 compared to EGP 8.8 bn in 1Q 2024 \u2014 due to the limited number of launches that took place during the three-month period. \u201cDespite that, we have witnessed a healthy demand for the limited launches released during the quarter,\u201d the company said. International sales made up around 43% of the quarter\u2019s real estate sales.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cGoing forward, ODE will periodically review its selling prices as it seeks to balance maximizing sales with managing cost inflation risk in the current inflationary environment,\u201d the company said in the release. <\/p>\n<p class=\"tag-border-left\">TELECOM SEES REVENUES JUMP 42%-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Telecom Egypt saw its normalized net income rise 39% y-o-y in 1Q 2025 to EGP 5.2 bn<\/strong>, according to its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/1148.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The figure adjusts for a EGP 700 mn FX loss during the quarter and a EGP 200 mn FX gain in the same period last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown: <\/strong>Telecom Egypt\u2019s top line rose 42% y-o-y to EGP 24.8 bn in 1Q 2025, driven by strong performances across its retail and wholesale segments. Retail revenue was up 40% y-o-y on the back of a 45% increase in home and consumer sales. Wholesale revenue climbed 44% y-o-y, with international activity up 64% thanks to FX gains and a pickup in cross-border call traffic.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">UNITED BANK REPORTS 1Q EARNINGS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>United Bank saw its net income after tax jump 67% y-o-y to EGP 781 mn during the first <\/strong><strong>quarter of 2025<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/1174.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a> to the EGX. The lender\u2019s net interest income rose to EGP 3.4 bn during the quarter, marking a 20% y-o-y increase.<\/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\/e-finance\/\">e-finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-development-egypt\/\">Orascom Development 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class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/15\/elsewedy-electric-named-among-times-top-companies-for-sustainable-growth\/\">\r\n                            Elsewedy Electric named among Time\u2019s top companies for sustainable growth                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/15\/elsewedy-electric-named-among-times-top-companies-for-sustainable-growth\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/663.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"665299\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/15\/elsewedy-electric-named-among-times-top-companies-for-sustainable-growth\/663-jpg-26\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/663.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"663.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/663.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/663.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-665298\" class=\"content-area-description single-story post-665298 post type-post status-publish format-standard has-post-thumbnail hentry category-kudos tag-elsewedy-electric tag-enterpriseam tag-kudos 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\/2025\/5\/.efa93b1d-3242-464e-bf22-1e769871d1af.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Elsewedy El<\/strong><strong>ectric claimed a spot on Time Magazine\u2019s list of <\/strong><strong><a target=\"_blank\" href=\"https:\/\/time.com\/collection\/worlds-best-companies-sustainable-growth-2025\/\" style=\"\" rel=\"noopener\">World\u2019s Best Companies in<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/time.com\/collection\/worlds-best-companies-sustainable-growth-2025\/\" style=\"\" rel=\"noopener\">Sustainable Growth 2025<\/a><\/strong><strong>, ranking <\/strong><strong>298th<\/strong><strong>. <\/strong>The company <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/elsewedyelectric_time-elsewedyelectric-sustainability-activity-7267912867536928768-3PD5\/\" style=\"\" rel=\"noopener\">is the only<\/a> Egyptian, African, and Middle Eastern firm in the engineering and manufacturing sector to make the cut. The ranking evaluates companies based on their financial and environmental performance \u2014 including revenue growth, carbon footprint, water consumption, and green energy use.<\/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\/elsewedy-electric\/\">Elsewedy Electric<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kudos\/\">KUDOS<\/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=\"665300 advertiser\" class=\"issue-section enterprise-adv\">\n<div 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src=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/770.jpg?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=\"665301\" 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=\"665301\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/15\/chinas-midea-to-invest-usd-50-mn-in-egypt-operations\/\">\r\n                            China\u2019s Midea to invest USD 50 mn in Egypt operations                        <\/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\/2025\/05\/15\/chinas-midea-to-invest-usd-50-mn-in-egypt-operations\/\" 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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data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1250.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1250.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1250.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-665301\" class=\"content-area-description single-story post-665301 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-enterpriseam tag-infrastructure tag-manufacturing tag-non-banking-financial-services tag-renewables tag-xinxin 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\/2025\/5\/.efa93b1d-3242-464e-bf22-1e769871d1af.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Midea to funn<\/strong><strong>el USD 50 mn into Egypt operations: <\/strong>Chinese home appliances giant <a target=\"_blank\" href=\"https:\/\/www.midea.com\/eg\" style=\"\" rel=\"noopener\">Midea<\/a> is set to invest a minimum of USD 50 mn by early 2026 to expand its Egypt operations and push into feeder industries, Bahgat El Dahesh, the company\u2019s business development manager for Europe, the Middle East, and Africa told <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/companies\/82744\/%D9%85%D9%8A%D8%AF%D9%8A%D8%A7-%D8%A7%D9%84%D8%B5%D9%8A%D9%86%D9%8A%D8%A9-%D8%AA%D8%AE%D8%B7%D8%B7-%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-50-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%84%D9%84%D8%AA%D9%88%D8%B3%D8%B9-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1\/\" style=\"\" rel=\"noopener\">Asharq Business<\/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>Where\u2019s the money going? <\/strong>The company plans to manufacture components locally in a bid to slash imports by at least half, as well as to produce small household appliances like fans and microwaves, El Dahesh said, adding that he expects the company to carry out the expansion plan within the next year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Midea is also ramping up investments in its Sadat City industrial complex to USD 150 mn<\/strong> from an initial USD 105 mn. The company will open two new facilities there \u2014 a washing machine plant that\u2019s slated to go live in August and a refrigerator factory that will come online in November. The company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3edd6ad7-8e7d-414c-8442-3d3e8ba95d36\" style=\"\" rel=\"noopener\">broke ground on the complex<\/a> in November 2023.<\/p>\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>#2- Xinxing l<\/strong><strong>ands USD 47 mn in export contracts from Ain Sokhna plant:<\/strong> China\u2019s Xinxing Ductile Iron Pipes signed four supply agreements worth USD 47 mn for ductile iron pipe from its recently inaugurated Ain Sokhna factory, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0Bot8YbWY5zW2gQkLaQz8VhAbU37qGHivB37ByqbKzoaEycUPy1bbR1NjdTXn73cxl\" style=\"\" rel=\"noopener\">statement<\/a>. The output will feed infrastructure projects in Kuwait, Iraq, Tunisia, and Jordan. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Orders already lining up:<\/strong> The new agreements come on the heels of EGP 34.5 bn in supply agreements signed during the plant\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/60df4f36-073d-45cd-9b3d-bb4c38b61d45\/two-projects-worth-usd-210-mn-go-live-in-egypt%25e2%2580%2599s-ain-sokhna\" style=\"\" rel=\"noopener\">official inauguration<\/a> this week to provide 77.6k tons of pipes to local and international projects. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">RENEWABLES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AlexFert + Unite<\/strong><strong>d Energy to develop green ammonia project: <\/strong>Egypt Kuwait Holding\u2019s fertilizer subsidiary AlexFert signed an MoU with Hong Kong-based renewables firm United Energy Group to develop a green ammonia project, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/1156.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The project is planned to be located near AlexFert\u2019s existing operations in Alexandria and will generate green hydrogen that will be allocated to green ammonia production.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not United Energy\u2019s first venture in Egypt: <\/strong>United Energy Group <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ddff2c81-f130-41df-948e-bef54e677966\/the-rundown-of-what-went-down-during-the-third-iteration-of-the-smart%253cmark%253e-green%253c%2Fmark%253e-projects-initiative\" style=\"\" rel=\"noopener\">inked an MoU<\/a> with Air Liquide to develop green ammonia projects using green hydrogen in Egypt in March. It was also one of the companies the government signed MoUs with last year to develop <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6a033678-0ac6-4fac-b245-7d9b9e33cca8\/\" style=\"\" rel=\"noopener\">green hydrogen and renewable energy projects<\/a> worth a combined USD 41 bn in the Suez Canal Economic Zone. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INFRASTRUCTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Gouna br<\/strong><strong>ings first outsourced desalination plant online: <\/strong>Orascom Development Egypt (ODE) inaugurated a new outsourced desalination facility in El Gouna in partnership with DesalEgypt and Energya Industries ElSewedy Helal, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/1180.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The reverse osmosis plant will have an initial capacity of 2.5k cubic meters per day, with future expansion phases set to raise output to 11.5k cubic meters per day. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bigger picture: <\/strong>The project brings El Gouna\u2019s total water production to 16.5k cubic meters per day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">NBFS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fintech pla<\/strong><strong>yer Klivvr will launch consumer finance services next month<\/strong>, CEO Nils Bachtler told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d9%83%d9%84%d9%8a%d9%81%d8%b1-%d9%84%d9%84%d9%85%d8%af%d9%81%d9%88%d8%b9%d8%a7%d8%aa-%d8%a7%d9%84%d8%a5%d9%84%d9%83%d8%aa%d8%b1%d9%88%d9%86%d9%8a%d8%a9-%d8%aa%d8%b3%d8%aa%d8%b9%d8%af\/\" style=\"\" rel=\"noopener\">Al Mal<\/a>. This comes after the company received the green light from the Financial Regulatory Authority <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe06dfd3-6526-4de9-a673-046ab9a5262e\/redcon-construction-has-plans-to-expand-its-presence-regionally#:~:text=%231%2D%20Klivvr%20secures,in%20December.\" style=\"\" rel=\"noopener\">earlier this month<\/a> to roll out buy-now-pay-later products through its app, after it had secured approval to establish a consumer finance company in December.<\/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\/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\/infrastructure\/\">infrastructure<\/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\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/xinxin\/\">XinXin<\/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=\"665303\" 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=\"665303\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/15\/wall-streets-rebound-cools-as-investors-await-new-data\/\">\r\n                            Wall Street\u2019s rebound cools as investors await new data                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    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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\/2025\/5\/.efa93b1d-3242-464e-bf22-1e769871d1af.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Global stocks were mostly up on Wednesday as the US-China tariff truce continued to <\/strong><strong>support risk appetite \u2014<\/strong> though gains were modest as traders waited for new data and clarity on the Federal Reserve\u2019s next moves.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Markets at a glance:<\/strong> The S&amp;P 500 rose 0.1% for its sixth consecutive day in the green, extending this week\u2019s rally and adding slightly to its YTD gains after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4286fb1e-3ad2-468b-ba40-a93ef20c2c29\/us-stocks-extend-rally-on-softer-inflation-data\" style=\"\" rel=\"noopener\">wiping out year-to-date losses<\/a> on Tuesday. The Nasdaq was up 0.6%, while the Dow Jones slipped 0.2%.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>USD finds footing after recent slide \u2014 and yields edge higher:<\/strong> The greenback strengthened against a basket of major currencies and US Treasury yields ticked higher as investors await retail and producer price data.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gold tumbles as safe-haven demand fades:<\/strong> Gold prices <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/easing-us-china-trade-tensions-send-gold-lower-safe-haven-demand-weakens-2025-05-14\/\" style=\"\" rel=\"noopener\">fell to a one-month low<\/a> as easing trade tensions weighed on demand for the yellow metal. Spot gold dropped 2% to USD 3,182 an ounce, while US gold futures fell 1.8% to USD 3,188.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cautious optimism sets in \u2014 but doubts remain:<\/strong> \u201cIt\u2019s all about the change in risk appetite,\u201d Danske Bank\u2019s Lars Skovgaard told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/global-markets-wrapup-1-2025-05-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. \u201cI have a hard time seeing that we\u2019ll go back to this extreme political noise.\u201d However, Gavekal Research\u2019s Wei He argued that \u201cthere\u2019s still plenty of uncertainty about the outlook,\u201d pointing to the fact that US tariffs on Chinese goods remain significantly higher than pre-2025 levels. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All eyes on the Fed and April\u2019s data:<\/strong> With inflation easing but trade policies still in flux, the Fed has signaled it will wait and assess the full impact before moving on rates. Vice Chair Philip Jefferson <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/feds-jefferson-expect-economy-slow-future-inflation-uncertain-due-tariffs-2025-05-14\/\" style=\"\" rel=\"noopener\">said<\/a> yesterday that the CPI data showed progress toward the Fed\u2019s 2% target, but noted the risk that new import levies could drive prices higher. Fed Chair Jerome Powell is expected to speak today, markets will also be on the lookout for April\u2019s producer price index and retail sales data, both of which are due later today.<\/p><p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are in the red in early trading this morning. <\/strong>Japan\u2019s Nikkei is down 1.2%, the Shanghai Composite is looking at losses of 0.4%, the Hang Seng and Korea\u2019s Kospi are both down 0.2%. <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">31,828<\/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: +7.0%)<\/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>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 50.32<\/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 50.46<\/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 50.36<\/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 50.46<\/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\">25.00% 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\">26.00% lending<\/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>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\">11,532<\/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: -4.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,621<\/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: +2.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,360<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +3.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,893<\/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: +0.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,585<\/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: +5.0%)<\/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\">5,403<\/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: +10.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 65.84<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.49<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-4.3%<\/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>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 3,188<\/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\">-1.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 103,501<\/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: +10.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P Egypt Sovereign Bond Index<\/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\">866.8<\/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: +11.5%)<\/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>S&amp;P MENA Bond &amp; Sukuk<\/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\">143.0<\/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: +2.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>VIX (Volatility Index)<\/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\">18.62<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.2% (YTD: +7.3%)<\/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 rose 0.4% at yesterday\u2019s close<\/strong> on turnover of EGP 3.3 bn (27.1% below the 90-day average). Regional investors were the sole net sellers. The index is up 7.0% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Beltone Holding (+3.0%), Fawry (+2.3%) and Ibnsina Pharma (+2.1%). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Sidpec (-2.8%), Abu Qir Fertilizers (-2.3%) and Juhayna (-1.9%).<\/p><p class=\"tag-border-left\">CORPORATE ACTIONS- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CIB will raise its issued and paid-up capital to EGP 33.8 bn<\/strong> from EGP 30.7 bn through a EGP 3.1 bn bonus share issuance, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/1189.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The increase will see 307 mn new shares issued at a par value of EGP 10 each. The capital hike, which is set to be funded from the bank\u2019s general reserves, is pending the central bank\u2019s approval.<\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"665305\" 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=\"665305\">\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\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/15\/my-morning-routine-gasser-bahgat-chairman-and-ceo-of-melee-development\/\">\r\n                            My Morning Routine: Gasser Bahgat, Chairman and CEO of Melee Development                        <\/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\/2025\/05\/15\/my-morning-routine-gasser-bahgat-chairman-and-ceo-of-melee-development\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Speaking to us this week is the Chairman and CEO of Melee Development, Gasser Bahgat (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/gasser-bahgat-88642625\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>). Edited excerpts from our conversation:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>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>My name is Gasser Bahgat. <\/strong>I\u2019m a real estate professional with nearly 30 years of experience in the industry. As the Chairman and CEO of Melee Development, I oversee operations across Egypt and Saudi Arabia \u2014 and we\u2019re expanding into new cities as we go. I\u2019m a husband and a father of two girls \u2014 Amina who is 20 and Zeina who is 13 years old.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My role is centered around problem solving<\/strong>, as well as following up with everything happening on a day-to-day basis \u2014 there\u2019s always something happening, be it internally or externally. I always have problems to solve and decisions to make. Being a leader means having the power to make decisions, even when you\u2019re not 100% sure. If you wait too long, planning drags out and your company slows down. I believe that doing 80% of the work at the right time is better than doing 100% at the wrong time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Making mistakes is a part of the job. <\/strong>I\u2019ve gained experience and became successful by learning from the mistakes I\u2019ve made throughout my career. This is the only way to learn quickly \u2014 you evolve by learning from your mistakes and you grow more confident with each one. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Real estate is a very risky business<\/strong>, one wrong mistake could bankrupt a company, so the risks are enormous. That\u2019s actually what I enjoy about it, the high stakes and the challenges. The work used to feel riskier when we were starting out, but now that things are more stable, I keep myself challenged by looking for ways to innovate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Right now, I want to prioritize maintenance over growth.<\/strong> I\u2019m not interested in aggressive expansion. While others are chasing EGP 100 or 200 bn in sales, I\u2019m focused on sustainability. We\u2019re also diversifying. We\u2019re moving into other sectors like hospitality, sports, and F&B \u2014 lighter, more tangible sectors. The idea is to always have something running and something paused. So when one sector hits a bump, the others keep us going. It\u2019s a strategy that protects the business, and we do it without panic. This panic could lead to wrong decisions, so we ensure that we take quick and calculated decisions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I wake up very early in the morning<\/strong>, and the first thing I do is pray the Fajr prayer. Then from 6am until 10am I finish all the work that needs to be done from my phone. I send voice messages and WhatsApp texts \u2014 I\u2019m not a big fan of sending emails. Then I head out to solve problems and attend meetings. I travel frequently to open new markets, meet investors, and create new opportunities. All of that takes up 80% of my time. Because I start early, I also finish early and delegate the rest. My team sends me end-of-day updates and follow-ups. We\u2019re a small team and work closely together. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Music is the one constant in my day.<\/strong> I have a high-quality sound system in every office, and I listen to music all the time. It\u2019s the one thing that calms me down and helps me relax. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re still a startup, technically, but we\u2019re growing fast, which has its challenges. <\/strong>In just two years, we\u2019ve grown into five or six companies with a combined value of EGP 60 bn. Companies take time to grow and mature, and we\u2019re trying to do that while maintaining a level of organization. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We try to make Melee a fun place to work too. <\/strong>We hold competitions every week. Last week\u2019s was a Playstation 5 competition where the winner got EGP 5k. Next week, it\u2019s a paddle competition where the winner will get a trip to Dubai. We\u2019re even taking the entire company to our boutique hotel on the North Coast for a weekend retreat to help the team unwind. I join these events too which helps me destress. My office is always open and I like to sit with my team and connect with people. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I want to keep the company at its current level. <\/strong>Since we\u2019re expanding to Saudi Arabia and the UAE, I want to see both companies grow and succeed, while maintaining the level of the company in Egypt. It\u2019s hard to keep employees in this highly competitive market. Still, if your people are being headhunted, it means you\u2019re doing something right \u2014 your company has a strong reputation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019m a workaholic<\/strong>, so I don\u2019t have a work-life balance. I\u2019m very busy and work takes up almost all of my day. But I do travel a lot. I travel every two or three weeks now, whereas before it was every few months. Traveling helps me relax and reset, even if I\u2019m still working remotely, I need a change of scenery, which is why I prefer to travel abroad. It helps me break out of the routine. Travel also helps inspire me. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019ve received a lot of useful advice throughout my life from so many people that I\u2019m <\/strong><strong>grateful to<\/strong>, but I am at a stage now where I am the one giving advice to people. And the best piece of advice I could give could be summed up in one word \u2014 contentment. It\u2019s a very deep word, and it encapsulates being content with your successes, your failures, and your mistakes, so you never go to bed regretting an event that happened in your life. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Passion is also an integral aspect of success. <\/strong>Just enjoy and be passionate about your work. If you don\u2019t enjoy it, don\u2019t do it. Be passionate, be curious, and be committed. That\u2019s how you grow quickly and succeed. <\/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\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"665307\" 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\/2025\/05\/15\/665307\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-665307\" class=\"content-area-description single-story post-665307 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\">MAY <\/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 May (Sunday): Aqarmap\u2019s Egyptian-Saudi real estate summit, at the Nile Ritz-Carlton. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>18-19 May (Sunday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.imf.org\/en\/News\/Seminars\/Conferences\/2025\/05\/18\/imf-middle-east-north-africa-inaugural-research-conference\" style=\"\">International Monetary Fund MENA Research Conference<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>18-20 May (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.alborsaanews.com\/2025\/02\/04\/1866442\" style=\"\">First Arab International Exhibition<\/a><\/span><span style=\"font-weight:400;\"> for Sustainable Development<\/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 May (Thursday): Central Bank\u2019s Monetary Policy Committee to meet to decide interest rates<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25 May (Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ses25.org\/\" style=\"\">Social Education Summit 2025<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30-31 May (Friday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/lbs.eventscase.com\/EN\/ABS2025\" style=\"\">Africa Business Summit<\/a><\/span><span style=\"font-weight:400;\">, London, UK<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Egyptian Exporters Association (Expolink) exhibition, Italy<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Egyptian-Russian Business Forum<\/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: Egypt-Singapore Business Forum, Cairo<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>May 2025: <\/span><span style=\"font-size:11.5pt\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02tdh3mCYLosumerUCfcCf7RCRxvRXhtoPBVL5A2E1CaL75iy68qTmstXJiGw2hMt6l\" style=\"\">Egyptian-US Investment Forum<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">JUNE<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-4 June (Monday-Wednesday): Manufacturing and packaging forum <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.propakmena.com\/en\/home.html\" style=\"\">ProPak MENA and Fi Africa 2025<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibition Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">3 June (Tuesday): S&P Global to release PMI data for May recording non-oil private sector activity<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10 June (Tuesday): Capmas expected to publish inflation data for May<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">MPs approve<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8403a52-d1a1-4538-9174-5628aafc0aaa\/egypt-wants-to-attract-usd-4-bn-in-renewable-investments-next-year#:~:text=%231%2D%20MPs%20approve%20amendments%20to%20tax%20dispute%20resolution%3A\" style=\"\">extension of tax dispute resolution window until 30 June 2025<\/a><\/span><span style=\"font-weight:400;\">, with potential for further extension<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">Coficab to complete its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3b26ecf0-9b2a-4737-9048-f6ff0830719c\/madbouly-cabinet-approves-redrafted-labor-act-during-its-weekly-meeting#:~:text=%234%2D%20And%20another%20one%20for%20Coficab%3A%20Cabinet%20also%20approved\" style=\"\">USD 88 mn automotive cable and electrical factory<\/a><\/span><span style=\"font-weight:400;\"> in Tenth of Ramadan 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:400;\">Realme to open smartphone factory<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>IFC President Makhtar Diop to visit Egypt<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10 July 2025 (Thursday): Monetary Policy Committee\u2019s fourth 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;\">15-16 July 2025 (Tuesday-Wednesday): Egypt Mining Forum<\/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=\"\">Etihad Airways to launch <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc282ccf-4479-442d-b6ad-1bbf1f31f4b3\/halliburton-to-bring-four-wells-online-by-december.-plus:-news-from-medcom-aswan,-fra,-q-developments,#:~:text=%232%2D%20Etihad%20Airways%20launches%20flights%20to%20Alamein%3A%20UAE%E2%80%99s%20Etihad%20Airways%20will%20launch%20twice%2Dweekly%20flights%20to%20Alamein%20starting%20July%202025.\" style=\"\">twice-weekly flights to Alamein<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST <\/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 August 2025 (Thursday): Monetary Policy Committee\u2019s fifth meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Tourism Development Authority to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a9f59c5-87cd-41d0-a92d-546cb0333b03\/gov%25e2%2580%2599t-offers-up-seven-airport-investments#:~:text=%231%2D%20Tourism%20authority,the%20tourism%20sector.\" style=\"\">waive late payment penalties<\/a><\/span><span> for land purchases if full installments are paid<\/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\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">Egypt Education Platform (EEP) to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e1e93e97-a640-4519-9bdc-69be48815b08\/education-platform-epp-wants-to-set-up-two-schools-in-alexandria-and-soma-bay-by%253cmark%253e-2025%253c%2Fmark%253e\" style=\"\">launch two new schools in Alexandria and Somabay<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">Egypt Otsuka\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/951a0387-415a-4039-83bb-955ab4e7a746\/otsuka-breaks-ground-on-new-usd-40-mn-factory-in-egypt\" style=\"\">nutritional products factory<\/a><\/span><span style=\"font-weight:400;\"> in Tenth of Ramadan to begin operations, with exports to Gulf countries expected by January 2026<\/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\">OCTOBER<\/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;\">2 October 2025 (Thursday): Monetary Policy Committee\u2019s sixth 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\">NOVEMBER<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 November 2025 (Thursday): Monetary Policy Committee\u2019s seventh 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;\">November: Egypt to join the EU\u2019s Horizon Europe research and innovation program.<\/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>1-4 December: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egyptdefenceexpo.com\/\" style=\"\">Egypt Defence Expo<\/a><\/span><span style=\"font-weight:400;\"> (EDEX), Egypt International Exhibition Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25 December: (Thursday): Monetary Policy Committee\u2019s eighth 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>1Q 2025: The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/permalink.php?story_fbid=pfbid025sMRLrhcNpivREmMd3LhFUkW4P5Yv4fKpqtKEu5sg9HmkSaBvkA4cszq6mVRBUbbl&id=61562245173260\" style=\"\">Egyptian-Italian business forum<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2025: Investment Minister Hassan El Khatib to visit Italy<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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>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;\">Mid-2025: EGX launches sustainability index.<\/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>1H 2025: EGX launches a sharia-compliant sustainability index.<\/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;\">1H 2025: The Egyptian Mineral Resources Authority will relaunch a global tender for gold exploration through Shalateen Mineral Resources company.    <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.5;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">3Q 2025: Nasr Automotive begins locally manufacturing passenger cars.<\/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;\">2026<\/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\">Early 2026:<\/span><span style=\"font-weight:400;\"> Passenger operations on the New Administrative Capital\u2013Nasr City monorail scheduled to begin.<\/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\">1Q 2026: <\/span><span style=\"font-weight:400;\">Trial operations for the Ain Sokhna\u2013Sixth of October section of Egypt\u2019s first high-speed rail line scheduled to begin.<\/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;\">1 January: European Union\u2019s Carbon Border Adjustment Mechanism (CBAM) to fully come into effect<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>May 2026: End of extension for developers on 15% interest rates for land installment payments <\/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>April 2027: Tenth of Ramadan <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8320d4df-e1a7-405e-be07-08e6590aff0e\/\" style=\"\">dry port and logistics hub<\/a><\/span><span style=\"font-weight:400;\"> 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: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;\">2027: Egypt to host EBRD\u2019s annual meetings for 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;\">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>The SAT comeback | Auto prices fall | Lots of earnings | Wall Street\u2019s rebound cools.<\/p>\n","protected":false},"featured_media":665284,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-665283","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"36e0bcb9-ae42-4a6d-ba79-e4ec5f4e8f76","teaser":"The SAT comeback | Auto prices fall | Lots of earnings | Wall Street\u2019s rebound cools.","photo_url":"https:\/\/ent.news\/2025\/5\/1257.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>Behind the scenes of the IMF\u2019s fifth 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