{"id":665539,"date":"2025-05-20T00:00:00","date_gmt":"2025-05-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=665539"},"modified":"2025-12-18T05:28:39","modified_gmt":"2025-12-18T05:28:39","slug":"maxab-wasoko-acquires-fatura","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/maxab-wasoko-acquires-fatura\/","title":{"rendered":"MaxAB-Wasoko acquires Fatura"},"content":{"rendered":"<section id=\"665541\" 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=\"665541\">\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\/20\/our-imports-of-israeli-gas-will-dip-20-throughout-the-summer\/\">\r\n                            Egypt\u2019s imports of Israeli gas will dip 20% throughout the summer                        <\/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\/20\/our-imports-of-israeli-gas-will-dip-20-throughout-the-summer\/\" 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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As has been the case for most of this month, we have a packed issue for you this morning, led by a whole lot of M&A news, fresh Chinese investments, TMG\u2019s expansion into another Gulf country, and Beltone\u2019s leasing arm closing its second securitization issuance. <\/p>\n<p class=\"tag-border-left\">PSA- <\/p>\n<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 today, with a high of 31\u00b0C and a low of 18\u00b0C, according to our favorite weather app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s cooler in Alexandria<\/strong>, with a high of 25\u00b0C and a low of 17\u00b0C.<\/p>\n<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>\n<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>\n<p class=\"tag-border-left\"> EGP WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>The EGP streng<\/strong><strong>thened against the USD to a 2025 high<\/strong>, with the greenback dipping below the EGP 50 mark for its buy price for the first time since December 2024. Public and private banks were offering EGP 49.99-50.00 for the USD, with a sell price of EGP 50.09-50.10.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hot money inflows helped drive up the value of the EGP<\/strong>, with USD 1.5 bn being channelled toward local debt in the past week, a government source told EnterpriseAM. Behind the uptick in foreign investor appetite for Egyptian debt were expectations that the Central Bank of Egypt (CBE) may cut rates when its Monetary Policy Committee meets on Thursday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government aims to maintain an average of USD 20 bn in foreign investment in <\/strong><strong>public debt annually<\/strong> while hedging against the volatility of \u201chot money\u201d by keeping it separate from the CBE\u2019s foreign currency reserves, according to a government document seen by EnterpriseAM.<\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1- <\/strong><strong>Samurai bond<\/strong><strong> issuance incoming?<\/strong> The African Development Bank is set to provide the government a USD 400 mn partial credit guarantee \u2014 or its equivalent in the Japanese JPY \u2014 to support the issuance of sustainable Samurai bonds in the Japanese market worth up to USD 500 mn, the bank\u2019s Country Manager for Egypt Abdourahmane Diaw told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2025\/05\/19\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%AD%D8%B5%D9%84-%D8%B9%D9%84%D9%89-%D8%B6%D9%85%D8%A7%D9%86-%D9%85%D9%86-%D8%A7%D9%84%D8%A7%D9%81%D8%B1%D9%8A%D9%82%D9%8A-%D9%84%D9%84%D8%AA%D9%86%D9%85%D9%8A%D8%A9-%D9%84%D8%A7%D8%B5%D8%AF%D8%A7%D8%B1-%D8%B3%D9%86%D8%AF%D8%A7%D8%AA-%D8%B3%D8%A7%D9%85%D9%88%D8%B1%D8%A7%D9%8A-%D8%A8%D9%80400-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. The proposal will be presented to the bank\u2019s board in September for the final rubber stamp.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The planned issuance would mark the country\u2019s third ever Samurai bond issuance after a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce19e583-ed68-49db-9e75-f748b4f180ed\/finmin-takes-usd-500-mn%253cmark%253e-samurai%253c%2Fmark%253e-bond-issuance-to-market\" style=\"\" rel=\"noopener\">November 2023 issuance<\/a> that raised USD 500 mn and the country\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6170918c-d131-411e-a667-a3f24c66a66c\" style=\"\" rel=\"noopener\">maiden samurai bond issuance<\/a> in March 2022 that also raised USD 500 mn.<\/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\"><a id=\"wwtt3\"><\/a><strong>#2- We\u2019ll see a dip in our imports of Israeli gas throughout the summer months<\/strong>, with imports expected to see a 20% y-o-y drop to around 800 mn cubic feet per day between June and September thanks to an uptick in Israeli demand, a government official told <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/power\/83274\/%D9%88%D8%A7%D8%B1%D8%AF%D8%A7%D8%AA-%D9%85%D8%B5%D8%B1-%D9%85%D9%86-%D8%A7%D9%84%D8%BA%D8%A7%D8%B2-%D8%A7%D9%84%D8%A5%D8%B3%D8%B1%D8%A7%D8%A6%D9%8A%D9%84%D9%8A-%D8%AA%D8%AA%D8%B1%D8%A7%D8%AC%D8%B9-%D8%AE%D9%84%D8%A7%D9%84-%D8%A7%D9%84%D8%B5%D9%8A%D9%81\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The Israeli side is also carrying out regular maintenance on its gas facilities for 15 days this month \u2014 a move slated to contribute to the reduced flow of gas exported in the coming months, the source added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>Egypt has been looking to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3b641b96-18e1-4ecf-8b3d-2ed348dfb8b9\/egypt-wants-to-up-its-imports-of%253cmark%253e-israeli-gas%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">up its imports of Israeli gas<\/a> by 58% by the middle of 2025 \u2014 the planned increase would have taken daily imports of Israeli gas to 1.5 bn cubic feet per day, equivalent to around a quarter of domestic demand.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fertilizer players are already feeling the squeeze:<\/strong> The government has cut natural gas supplies to local fertilizer and methanol factories by 50% for a 15-day period starting Monday, four government officials told <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/power\/83311\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%AE%D9%81%D8%B6-%D9%83%D9%85%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D8%BA%D8%A7%D8%B2-%D8%A7%D9%84%D9%85%D9%88%D8%B1%D8%AF%D8%A9-%D9%84%D9%85%D8%B5%D8%A7%D9%86%D8%B9-%D8%A7%D9%84%D8%A3%D8%B3%D9%85%D8%AF%D8%A9-%D8%A5%D9%84%D9%89-%D8%A7%D9%84%D9%86%D8%B5%D9%81\/?utm_source=facebook&utm_medium=social&utm_campaign=asharq_business_egy_fb\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The Egyptian Natural Gas Holding Company aims to cut gas supplies by around 400 mcf\/d, from the 770 mcf\/d typically consumed by fertilizer and methanol factories. These factories normally account for 35-40% of industrial gas usage, which represents roughly a quarter of Egypt\u2019s total domestic gas consumption.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Deja vu: <\/strong>At around the same time last year, fertilizers industries were <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/36967d9b-1184-4816-a664-5b3862319684\/power-cuts-and-gas-shortages-compound-egypt%25e2%2580%2599s-industry-woes\" style=\"\" rel=\"noopener\">facing operational<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/36967d9b-1184-4816-a664-5b3862319684\/power-cuts-and-gas-shortages-compound-egypt%25e2%2580%2599s-industry-woes\" style=\"\" rel=\"noopener\">disruptions and even complete shutdowns<\/a> as gas shortages led to companies temporarily closing down operations.<\/p>\n<p class=\"tag-border-left\">INTEREST RATE WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Make that six of nine\u2026 <\/strong>HSBC Global Research thinks the Central Bank of Egypt has room to cut interest rates by 200 bps when it meets on Thursday. Our friend Simon Williams, the bank\u2019s chief economist for CEEMEA, and MENA economist Ryan Walter wrote in a note to clients that without a fuel price increase, sequential inflation in April would have slowed, helped along by a month-on-month drop in average food prices. Add in sluggish growth and tight fiscal policy against a backdrop of FX stability and it\u2019s hard to justify a high real policy rate. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Notably: <\/strong>\u201cCore inflation has fallen more quickly than the headline number, printing some 3.5ppts below the overall measure in April. This suggests that underlying price pressures are relatively well contained, and we note that without the one-off rise in fuel prices, sequential inflation would have slowed by around 1ppt,\u201d Williams and Walter write.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HSBC thinks the CBE might take a breather after Thursday<\/strong>, writing that \u201ca payse [in easing] may be required\u201d to allow the central bank to \u201cgauge underlying price trends, with the stance likely to be influenced in part by global risk appetite and the strength of capital inflows.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Most analysts we polled now expect a cut on Thursday<\/strong>, penciling in 100-200 bps as reasonable. The central bank kicked off its easing cycle last month with a 225 bps cut, citing cooling inflation in 1Q 2025 as it brought the overnight deposit rate down to 25.0%. The IMF, now conducting its fifth review of our extended fund facility program, has warned against premature easing. April\u2019s fuel cuts are a key part of the IMF-backed reform program. <\/p>\n<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<\/p><\/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>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">HAPPENING TODAY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#1- El Khatib is in Berlin: <\/strong>Investment Minister Hassan El Khatib is in Berlin to drum up investments, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1231911542312597?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a>. During his time in Germany, the minister will pitch potential investments to German companies and take part in the Arab-German Business Forum. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- For our fellow tech nerds: The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/io.google\/2025\/\" style=\"\" rel=\"noopener\">Google I\/O<\/a><\/strong><strong> developer conference kicks off in about 12 <\/strong><strong>hours\u2019 time <\/strong>and <a target=\"_blank\" href=\"https:\/\/www.theverge.com\/news\/669382\/microsoft-build-2025-news-ai-agents\" style=\"\" rel=\"noopener\">Microsoft\u2019s Build<\/a> gathering is running in parallel. Look for AI to be the star of both shows. Apple, which is struggling with generative AI, will hold its WWDC conference on 9 June, with a big overhaul of the look-and-feel of macOS, iPadOS and iOS likely headlining. <\/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\">THE BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Two stories are competing for top billing in the international business press this <\/strong><strong>morning:<\/strong> US President Donald Trump\u2019s announcement that Russia and Ukraine will begin \u201cimmediate\u201d ceasefire talks, and Israel saying that it plans to take over the entirety of the Gaza Strip. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Russia and Ukraine will reportedly begin negotiations for a ceasefire and an end to the <\/strong><strong>war between the two countries \u201cimmediately,\u201d<\/strong> Trump said in a <a target=\"_blank\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/114535693441367601\" style=\"\" rel=\"noopener\">post on Truth Social<\/a> following what he says was a two-hour-long phone call with Russian President Vladimir Putin. It remains unclear who \u2014 if anyone \u2014 will mediate the talks, with Trump adding that \u201cthe conditions for [the ceasefire] will be negotiated between the two parties, as it can only be, because they know details of a negotiation that nobody else would be aware of.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No new US sanctions on Russia (for now):<\/strong> The EU is <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/europeans-pressure-russia-with-sanctions-germany-says-2025-05-19\/\" style=\"\" rel=\"noopener\">set to enact fresh sanctions<\/a> on Moscow to ramp up the pressure to end the war, but Trump is holding back from following suit, saying that increasing sanctions-related pressure on Russia could have an adverse outcome on the negotiations, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/china\/trump-speak-putin-end-war-ukraine-europeans-demand-ceasefire-2025-05-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. The story is also getting ink from the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/trump-holds-call-with-russias-putin-on-ending-the-war-in-ukraine-d0d934af?mod=hp_lead_pos3\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-05-19\/trump-call-with-putin-underway-as-us-seeks-ceasefire-in-ukraine?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, and the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/59f2af2f-0e19-40b3-b9a8-5511a3f81e03\" style=\"\" rel=\"noopener\">Financial Times<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In our neck of the woods:<\/strong> Israel is planning to take control of all of Gaza, Israeli Prime Minister Benjamin Netanyahu said yesterday as he announced an upcoming \u201cunprecedented attack\u201d on what he says are Hamas targets. The IDF ordered Palestinians in Khan Younis and two other areas to evacuate the area yesterday, with Netanyahu saying Israel is looking for a \u201ccomplete victory.\u201d Meanwhile, his Finance Minister Bezalel Smotrich said yesterday that the military\u2019s new \u201coperational method is completely different: not raids, but rather occupation, cleansing and holding the territory until Hamas is destroyed.\u201d The IDF will \u201c[destroy] everything that is left\u201d of Gaza, Smotrich said. The story is getting ink from <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-05-19\/netanyahu-says-israel-to-take-over-all-gaza-restart-aid-flows\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-kills-20-palestinians-airstrikes-after-agreeing-let-some-aid-into-gaza-2025-05-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/8f1f3372-ecfc-46ed-9003-14b240613388\" style=\"\" rel=\"noopener\">the Financial Times<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/239.jpg?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We dive into Egypt\u2019s emerging beverage carton recycling sector. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"665543 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=\"665543\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/665543\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-665543\" class=\"content-area-description single-story post-665543 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 style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.thetrifactory.com\/SomabayEnduranceFestival2025\" style=\"\">The Somabay Endurance Festival<\/a><\/span><span style=\"font-weight:400;\"> 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>\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=\"665544\" 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=\"665544\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/maxab-wasoko-acquires-fatura\/\">\r\n                            MaxAB-Wasoko acquires Fatura                        <\/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\/20\/maxab-wasoko-acquires-fatura\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/maxab-wasoko-acquires-fatura\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/maxab-wasoko-acquires-fatura\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=MaxAB-Wasoko acquires Fatura&url=https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/maxab-wasoko-acquires-fatura\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/maxab-wasoko-acquires-fatura\/&title=MaxAB-Wasoko acquires Fatura\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=MaxAB-Wasoko+acquires+Fatura+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F05%2F20%2Fmaxab-wasoko-acquires-fatura%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\/20\/maxab-wasoko-acquires-fatura\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1610.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"665545\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/maxab-wasoko-acquires-fatura\/1610-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1610.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1610.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1610.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1610.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-665544\" class=\"content-area-description single-story post-665544 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-efg-holding tag-enterpriseam tag-fatura tag-ma-watch tag-maxab tag-wasoko 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\/.11002aeb-efc1-4d0e-9b63-6848b7ea44dc.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>MaxAB-Wasoko acquired EFG Finance\u2019s B2B e-marketplace Fatura <\/strong>after EFG Finance approved the acquisition, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/1576.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. Following the acquisition EFG Finance will become a significant shareholder in MaxAB-Wasoko and part of its board. <\/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>ICYMI- <\/strong>Egyptian B2B e-commerce platform MaxAB and Kenya-based Wasoko <a target=\"_blank\" rel=\"noopener\">merged<\/a> in August 2024 to create Africa\u2019s largest network of B2B informal retailers, with more than 450k merchants connected to over 65 mn consumers across Egypt, Morocco, Kenya, Tanzania, and Rwanda.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The acquisition strengthens MaxAB-Wasoko\u2019s position in Egypt by adding new cities and wholesalers to its network. The move \u201cmarks a pivotal step in MaxAB\u2019s broader strategy to consolidate the B2B ecommerce and fintech space across Africa,\u201d the statement read. Fatura is expected to contribute around 25% of MaxAB\u2019s revenues in Egypt by the end of the year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cThe acquisition of Fatura is more than a growth play; it\u2019s the realization of our ambition to become the go-to, one-stop-shop for retailers throughout Africa \u2026 By bringing together operational strength, product depth, and innovative fintech offerings, we\u2019re setting a new standard for retail across the region,\u201d MaxAB-Wasoko CEO Belal El Megharbel said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> EFG Holding\u2019s microfinance arm Tanmeyah <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3cf8519e-72cd-4735-9d88-9b55d0ab5dfa\/\" style=\"\" rel=\"noopener\">acquired<\/a> Fatura back in 2022 to grow its network of merchants and fill the B2B credit market gap.<\/p>\n\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\/efg-holding\/\">EFG Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fatura\/\">Fatura<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maxab\/\">MaxAB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wasoko\/\">Wasoko<\/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=\"665546\" 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, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-n7u8o93\" data-v=\"4\" data-block-id=\"n7u8o93\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-n7u8o93-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-n7u8o93-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            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src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-drc41zh\" data-v=\"4\" data-block-id=\"drc41zh\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-drc41zh-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-drc41zh-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 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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=\"665547\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/gac-motor-could-set-up-a-usd-300-mn-car-manufacturing-plant-here\/\">\r\n                            GAC Motor could set up a USD 300 mn car manufacturing plant in Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" 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            \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\/20\/gac-motor-could-set-up-a-usd-300-mn-car-manufacturing-plant-here\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1614.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"665548\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/gac-motor-could-set-up-a-usd-300-mn-car-manufacturing-plant-here\/1614-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1614.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1614.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1614.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1614.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-665547\" class=\"content-area-description single-story post-665547 post type-post status-publish format-standard has-post-thumbnail hentry category-automotive tag-automotive tag-china tag-enterpriseam tag-manufacturing 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\/.49312ca2-ddfe-4149-9408-1b21b129a1b0.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>GAC Motor could be the latest Chinese automaker to set up production facilities here<\/strong><strong>: <\/strong>Chinese automobile manufacturer GAC Motor plans to invest USD 300 mn to set up a car manufacturing plant in Egypt to serve both local and export markets, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0C36h3J2mcrPSLQSU9xy3dXSEdfUeQHb4jTVrYnHezshVeFaiHrL5rLP4RmToshSLl\" style=\"\" rel=\"noopener\">cabinet<\/a> statement. The plan was announced by General Manager Feng Xingya during a meeting between the General Authority for Freezones and Investment head Hossam Heiba and a number of Chinese players focused on expanding Chinese investments in Egypt. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> We heard back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/30ba38ca-fa9f-4841-8009-f0760ad3c01d\" style=\"\" rel=\"noopener\">September<\/a> that Auto Jameel \u2014 GAC Motor\u2019s local agent \u2014 would produce the first locally-manufactured GAC models on the market, with plans to assemble 2-3 models and manufacture 10-15k vehicles per year. The news came on the heels of Prime Minister Moustafa Madbouly\u2019s <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02tCHH8evvQYVUjZhRWvVjXxYY82nFAQKtL5XTTyCyiZbs2yfydbqNSWGabKNHqHEl\" style=\"\" rel=\"noopener\">offer to give<\/a> GAC Motor special incentives and a golden license to expand production to Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oppo also has big plans for Egypt:<\/strong> Smartphone manufacturer <a target=\"_blank\" href=\"https:\/\/www.oppo.com\/eg-en\/\" style=\"\" rel=\"noopener\">Oppo<\/a> said it plans to make Egypt its second largest global production hub after China. The company in October said it aims to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e1594d9b-62a9-474e-aded-4c3576ba3ac3\/\" style=\"\" rel=\"noopener\">increase local production<\/a> from 70k phones per month to 500k.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.zte.com.cn\/global\/\" style=\"\" rel=\"noopener\">ZTE<\/a><\/strong><strong> reiterated its commitment to expanding here<\/strong> to capitalize on growing demand for telecom infrastructure. The telecommunications equipment manufacturer inked an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5eb9f636-99c8-4dc9-a327-72722d4229d6\/egypt-inks-over-usd-1.1-bn-worth-of-agreements-and-mous-at-forum-on-china-africa-cooperation\" style=\"\" rel=\"noopener\">MoU<\/a> in September to locally manufacture a number of products, including fixed network terminals and optical network distribution products.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s been a busy few weeks for Chinese investments <\/strong>\u2014 we\u2019ve seen announcements of new factories from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/62c16898-4b34-4246-bb48-0cf7a24ff6b9\/chinese-firm-gs-global-to-launch-usd-15-mn-garment-factory-in-egypt\" style=\"\" rel=\"noopener\">GS Global Sourcing<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb86f437-cd9a-49de-bf89-0aaba35845b5\/three-chinese-players-will-set-up-factories-in-qantara-worth-over-usd-80-mn\" style=\"\" rel=\"noopener\">Kinlead Innovative Materials, Guangdong Hongxin Textile, Top New Garment Group<\/a>, and <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-ain-sokhna\" style=\"\" rel=\"noopener\">Xinxing Ductile Iron Pipes<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And there\u2019s more to come: <\/strong>Egypt will hold meetings with the Chinese business community in Beijing and Shanghai next month. After that Cairo will host the Egyptian-Chinese Investment Forum in July. Egypt is looking to boost Chinese investments in automotive, building materials, textiles, electronics, renewable energy, data centers, and AI, Heiba said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT-<\/strong> Some 2.8k Chinese companies currently operate in Egypt, with total investments exceeding USD 8 bn, according to data from GAFI.<\/p>\n\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\/china\/\">China<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"665549\" 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=\"665549\">\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\/20\/tmg-announces-oman-expansion-with-two-developments-in-the-pipeline\/\">\r\n                            Egyptian real estate player TMG announces Oman expansion with two developments in the pipeline                        <\/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\/20\/tmg-announces-oman-expansion-with-two-developments-in-the-pipeline\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/tmg-announces-oman-expansion-with-two-developments-in-the-pipeline\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/tmg-announces-oman-expansion-with-two-developments-in-the-pipeline\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=TMG announces Oman expansion with two developments in the pipeline&url=https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/tmg-announces-oman-expansion-with-two-developments-in-the-pipeline\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/tmg-announces-oman-expansion-with-two-developments-in-the-pipeline\/&title=TMG announces Oman expansion with two developments in the pipeline\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=TMG+announces+Oman+expansion+with+two+developments+in+the+pipeline+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F05%2F20%2Ftmg-announces-oman-expansion-with-two-developments-in-the-pipeline%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\/20\/tmg-announces-oman-expansion-with-two-developments-in-the-pipeline\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1608.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"665550\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/tmg-announces-oman-expansion-with-two-developments-in-the-pipeline\/1608-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1608.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1608.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1608.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1608.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-665549\" class=\"content-area-description single-story post-665549 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate tag-enterpriseam tag-oman tag-real-estate tag-talaat-moustafa-group 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\/.8b649985-596e-4667-b308-555a5e1bac57.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>T<\/strong><strong>alaat Mous<\/strong><strong>tafa Group\u2019s (TMG) regional presence will soon expand to Oman<\/strong>, after the local real estate giant inked an agreement with the Omani Housing Ministry to develop two mixed-use developments in the Gulf nation, according to a company <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/1552.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>. The projects will see investments of OMR 1.5 bn and provide 13k residential and hotel units, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/1589.pdf\" style=\"\" rel=\"noopener\">st<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/1589.pdf\" style=\"\" rel=\"noopener\">atem<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/1589.pdf\" style=\"\" rel=\"noopener\">ent (pdf)<\/a>. The developer estimates that combined sales will reach OMR 1.8 bn \u2014 equivalent to USD 4.7 bn.<\/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 first project is a 2.7 mn sqm \u201cintegrated smart residential city\u201d in Sultan Haitham <\/strong><strong>City<\/strong>, set to offer villas, residential apartments, a social and sports club, and a commercial and services area. It will be modeled after TMG\u2019s local projects Madinaty and Al Rehab.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The second project is a 2.2 mn sqm beachfront residential and tourism development in the coastal <\/strong><strong>area <\/strong><strong>of Al Shakhakhit<\/strong>, which will feature a yacht marina, a hotel, sea view villas, cabins, and residential apartments. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TMG is also looking to step foot into the Iraqi market: <\/strong>TMG is currently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ae2db0aa-72f4-4e81-81d4-145ad7fb8219\/tmg-eyes-usd-10-bn-administrative%253cmark%253e-city%253c%2Fmark%253e-project-in-iraq\" style=\"\" rel=\"noopener\">in negotiations with<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ae2db0aa-72f4-4e81-81d4-145ad7fb8219\/tmg-eyes-usd-10-bn-administrative%253cmark%253e-city%253c%2Fmark%253e-project-in-iraq\" style=\"\" rel=\"noopener\">the Iraqi government<\/a> to build an administrative city in Baghdad that could cost upwards of USD 10 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Last year, TMG launched its first overseas project <\/strong>\u2014 Saudi Arabia\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1863d30d-e2c5-4721-8879-3f85b05ac31b\" style=\"\" rel=\"noopener\">SAR 65 bn<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1863d30d-e2c5-4721-8879-3f85b05ac31b\" style=\"\" rel=\"noopener\">Benan City<\/a>, which is being developed in eastern Riyadh\u2019s Al Fursan in partnership with the Saudi National Housing Company.<\/p>\n\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\/oman\/\">Oman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/talaat-moustafa-group\/\">Talaat Moustafa Group<\/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=\"665551\" 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=\"665551\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/beltones-leasing-arm-raises-egp-2-bn-in-its-second-securitization-issuance\/\">\r\n                            Beltone\u2019s leasing arm raises EGP 2 bn in its second securitization issuance                        <\/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\" 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       <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/beltones-leasing-arm-raises-egp-2-bn-in-its-second-securitization-issuance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/756.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"665552\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/beltones-leasing-arm-raises-egp-2-bn-in-its-second-securitization-issuance\/756-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/756.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"756.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/756.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/756.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-665551\" class=\"content-area-description single-story post-665551 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-beltone-holding tag-beltone-leasing-and-factoring tag-debt tag-debt-watch tag-enterpriseam tag-securitization 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\/.4c75eadc-742d-4406-9418-616f25cec9d9.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Beltone Leasing and Factoring closes EGP 2 bn securitization issuance:<\/strong> Beltone Holding subsidiary Beltone Leasing and Factoring has closed its second securitization issuance in under a year, raising EGP 2 bn, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/1580.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong> The issuance came in three tranches, with tenors ranging from 25-54 months, all of which were given a minimum credit rating of A from the Middle East Rating and Investors Service (MERIS). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Beltone Leasing and Factoring closed its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6d88ce05-9295-4d68-8691-30c89626c002\/beltone%e2%80%99s-leasing-arm-raises-egp-1.3-bn-in-first-securitization-issuance\" style=\"\" rel=\"noopener\">first securitized bond issuance<\/a> last October, raising EGP 1.3 bn. The issuance was 1.5x oversubscribed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Beltone Investment Banking\u2019s Debt Capital Markets Division acted as the financial advisor, lead manager, and bookrunner. The issuance was carried out through Beltone Securitization Company, Banque du Caire was placement agent and Suez Canal Bank acted as custodian. ALC Alieldean Weshahi & Partners provided counsel, while KPMG was external auditor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who bought in? <\/strong>Banque du Caire, Suez Canal Bank, and FABMisr acted as underwriters. Emirates NBD Egypt, Saib Bank, and Attijariwafa Bank also participated in the transaction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cCompleting two securitization issuances in less than a year reaffirms the strength and resilience of our portfolio, as well as the market\u2019s confidence in our strategic growth plans,\u201d Deputy Head of Non-Banking Financial Services for Leasing, Factoring, and Consumer Finance Amir Ghannam said. \u201cThis second issuance is a significant milestone that reflects our commitment to developing financing solutions that meet the evolving needs of our clients\u2019 needs and contribute to sustainable growth in the financial sector.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO FROM BELTONE- <\/strong>Beltone Holding notified the bourse that its leasing and factoring arm is looking to acquire an unlisted \u201cleading player in one of the<strong> non-banking financial services sectors<\/strong>,\u201d according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/1546.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. Subsidiary Beltone Leasing and Factoring has submitted an offer to buy 100% of the shares of the undisclosed company and will kick off due diligence and start tapping advisors after securing the required regulatory approvals.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone-holding\/\">Beltone Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone-leasing-and-factoring\/\">Beltone Leasing and Factoring<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/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=\"665553\" 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=\"665553\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Logistics<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/canadian-investment-firm-looks-to-invest-in-our-infrastructure\/\">\r\n                            Canadian investment firm looks to invest in Egypt\u2019s infrastructure                        <\/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\/20\/canadian-investment-firm-looks-to-invest-in-our-infrastructure\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/canadian-investment-firm-looks-to-invest-in-our-infrastructure\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/canadian-investment-firm-looks-to-invest-in-our-infrastructure\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Canadian investment firm looks to invest in our infrastructure&url=https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/canadian-investment-firm-looks-to-invest-in-our-infrastructure\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/canadian-investment-firm-looks-to-invest-in-our-infrastructure\/&title=Canadian investment firm looks to invest in our infrastructure\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Canadian+investment+firm+looks+to+invest+in+our+infrastructure+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F05%2F20%2Fcanadian-investment-firm-looks-to-invest-in-our-infrastructure%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\/20\/canadian-investment-firm-looks-to-invest-in-our-infrastructure\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/2100.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"665554\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/canadian-investment-firm-looks-to-invest-in-our-infrastructure\/2100-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/2100.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2100.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/2100.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/2100.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-665553\" class=\"content-area-description single-story post-665553 post type-post status-publish format-standard has-post-thumbnail hentry category-logistics tag-canada-business-holdings tag-enterpriseam tag-infrastructure tag-logistics 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\/.8e5ed088-9a20-450b-b96b-be0e89bd42d8.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Canadian<\/strong><strong> player CBH is interested in our infrastructure: <\/strong>Canadian holding company Canada Business Holdings (CBH) submitted a letter of intent to the Madbouly government outlining its interest in investing in strategic infrastructure projects in Egypt, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/1537.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. CBH is particularly interested in seaport development, marine tourism, and infrastructure for manufacturing food for export.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have an idea what CBH may have up its sleeves: <\/strong>CBH wants to set up a USD 15 bn integrated logistics, industrial, and residential project in Safaga, consultant TransCap\u2019s Ahmed Hamouda told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/cbh-%D8%A7%D9%84%D9%83%D9%86%D8%AF%D9%8A%D8%A9-%D8%AA%D8%B7%D9%84%D8%A8-%D8%A5%D9%82%D8%A7%D9%85%D8%A9-%D9%85%D8%B4%D8%B1%D9%88%D8%B9-%D8%B3%D9%83%D9%86%D9%8A-%D8%B5%D9%86%D8%A7%D8%B9\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> last month. The project will be developed over a 10-year period in multiple phases, with the first phase costing nearly USD 3 bn. The project will be carried out through a public-private partnership for an extendable 55-year period, after which it will be offered up on the stock exchange, Hamouda added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The project will include a container port with a capacity to handle 3 mn containers annually, an industrial zone which will process, package, and export agricultural products, and a residential city featuring a shopping center, hotels, schools, a university, and a hospital that can house 80k individuals. All in all, the project will provide 50k jobs, Hamouda said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TransCap?<\/strong> CBH has tapped technical and economic consultancy TransCap to act as the financial advisor for the project, Hamouda told Al Mal. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About CBH:<\/strong> CBH is a Canadian project development and investment firm that invests, builds, and manages large-scale projects through PPPs, according to its <a target=\"_blank\" href=\"https:\/\/cbhppp.com\/\" style=\"\" rel=\"noopener\">website<\/a>. The Canadian firm operates across several fields, including infrastructure, energy, logistics hubs, and sustainable development.<\/p>\n\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\/canada-business-holdings\/\">Canada Business Holdings<\/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\/logistics\/\">logistics<\/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=\"665555\" 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=\"665555\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/the-countrys-first-spac-inches-closer-to-closing-its-first-two-acquisitions\/\">\r\n                            Egypt\u2019s first SPAC inches closer to closing its first two acquisitions                        <\/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\/20\/the-countrys-first-spac-inches-closer-to-closing-its-first-two-acquisitions\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/the-countrys-first-spac-inches-closer-to-closing-its-first-two-acquisitions\/')\">\n  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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1249.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1249.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1249.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1249.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-665555\" class=\"content-area-description single-story post-665555 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-egx tag-enterpriseam tag-ma-watch tag-spacs 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\/.d5cbb02f-f70d-4a06-8049-09961c7d90fc.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A look at CPME\u2019s acquisition plans: <\/strong>Impact investor Catalyst Partners\u2019 SPAC Catalyst Partners Middle East (CPME) is set to acquire majority stakes in two companies \u2014 Qardy and Catalyst Partners Holding \u2014 through share swaps, after raising its authorized capital to EGP 14 bn, up from EGP 1 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CPME\u2019s play: <\/strong>The two acquisitions are intended to drive growth in the target companies\u2019 services including leasing, factoring, and SME lending, Catalyst Partners Chairman Maged Shawky told EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>CPME became <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/88ac5801-4921-4b05-a6e4-7167c37d2d7f\" style=\"\" rel=\"noopener\">Egypt\u2019s first SPAC<\/a> after receiving the green light from the Financial Regulatory Authority in September 2024, before <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1734a401-c514-45e5-86bd-ec176e5c4f87\/egypt%25e2%2580%2599s-first%253cmark%253e-spac%253c%2Fmark%253e-starts-trading-on-the-egx\" style=\"\" rel=\"noopener\">listing on the EGX<\/a> two months later. The SPAC is currently listed but there\u2019s no trading activity on its shares, CPME\u2019s IR Head Osama Rashad told us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Acquisition #1: <\/strong>CPME is inching closer to closing the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/add97eb5-5ab0-4599-be02-6e95269ae6e2\" style=\"\" rel=\"noopener\">takeover of digital lending marketplace<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/add97eb5-5ab0-4599-be02-6e95269ae6e2\" style=\"\" rel=\"noopener\">Qardy<\/a> in a landmark SPAC transaction worth EGP 1.2 bn, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/1554.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The transaction is expected to accelerate Qadry's regional expansion and ramp up its growth plans. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A share swap agreement: <\/strong>Egypt\u2019s first-ever SPAC acquisition will see CPME take full ownership of Qardy through a share swap, issuing new CPME shares in exchange for 100% of Qardy\u2019s equity. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The fair value of CPME was determined at a total of EGP 235 mn, while that of Qardy is EGP 1.2 bn, and the share swap ratio was set at 3.9 newly-issued CPME shares for every one share of Qardy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know about Qardy:<\/strong> Founded in July 2022, Qardy is Egypt's first online lending marketplace connecting financial institutions with micro, small, and medium enterprises (MSMEs) seeking funding. Qardy partners with national and commercial banks, as well as leasing, factoring, and microfinance companies, to offer tailored financial programs supporting MSMEs' working capital and expansion needs. The company says it has facilitated over USD 19 mn in loan transactions and serves a client base of more than 7k businesses. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Acquisition #2: <\/strong>CPME is also gearing up to acquire a majority stake \u2014 potentially up to 100% \u2014 of Catalyst Partners Holding through a share swap valued at EGP 1.64 bn, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/1456.pdf\" style=\"\" rel=\"noopener\">a bourse disclosure (pdf)<\/a>. Catalyst Partners Holding shareholders will receive 32.9 newly-issued CPME shares for each share they hold.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next:<\/strong> This year, CPME will focus on closing the two acquisitions, setting strategic plans, and injecting fresh capital, Shawky said. He said last year that the SPAC was looking to acquire six to ten companies \u2014 including two fintech and NBFS firms.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>CPME tapped our friends at Beltone Holding for their investment banking and brokerage services on the transaction and Matouk Bassiouny & Hennawy as counsel, Shawky told us. BDO Keys Financial Consulting will act as independent financial advisor and Grant Thornton as tax advisor, he added. <\/p>\n<p class=\"tag-border-left\">MAGRABI TO ACQUIRE KUWAIT\u2019S KEFAN- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt-born eyewear retailer Magrabi Retail Group is planning to fully acquire <\/strong><strong>Kuwait-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/kefan-optics.com\/\" style=\"\" rel=\"noopener\">Kefan Optics<\/a><\/strong> for an undisclosed sum, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/1569.pdf\" style=\"\" rel=\"noopener\">a statement (pdf)<\/a>. The transaction, pending regulatory approvals, will see Magrabi add 37 stores to its network, significantly expanding its presence in the Kuwaiti market, and pushing its total store count to more than 350 across the GCC and Egypt by year-end. Magrabi says it will retain the Kefan brand post-acquisition while integrating its own retail and customer service standards into the chain. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The transaction marks Magrabi's second major retail acquisition in less than a year, following its acquisition of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5a68956-947a-4bfa-b470-5cfbf94a267b\/palm-hills%25e2%2580%2599-yasseen-mansour-snaps-up-more-of-taaleem-%2B%253cmark%253e-magrabi%253c%2Fmark%253e-and-rivoli-vision-to-merge\" style=\"\" rel=\"noopener\">Dubai\u2019s Rivoli Vision<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/spacs\/\">SPACs<\/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=\"665557\" 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=\"665557\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/the-top-ten-takeaways-from-day-one-of-the-imf-mena-research-conference\/\">\r\n                            The top ten takeaways from day one of the IMF MENA Research Conference                        <\/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\/20\/the-top-ten-takeaways-from-day-one-of-the-imf-mena-research-conference\/\" 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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Day one of the two-day conference (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=3BgF2oN1NOI&amp;list=TLGGkAfse_zlXPExOTA1MjAyNQ\" style=\"\" rel=\"noopener\">watch, runtime; 7:50:27<\/a>) brought together academics, researchers, and policymakers to discuss regional and global economic issues. Not all of us have a spare eight hours to catch up with what happened on day one, so we put together the top ten key takeaways to get you up to speed:<\/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>#1- Global headwinds complicate MENA\u2019s path: <\/strong>The global economic landscape is fraught with \u201ctrade tensions and increasing uncertainty,\u201d alongside ongoing regional conflicts and climate risks, creating new layers of complexities for MENA policymakers, said IMF MENA and Central Asia Director Jihad Azour.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The region\u2019s<\/strong><strong> highly indebted countries fac<\/strong><strong>e an unsustainable financial path: <\/strong>Policymakers, academics, and IMF bigwigs all warned that the current financial trajectory for highly indebted middle-income countries is unsustainable in the MENA region \u2014 including Egypt as a prime example. Lebanese economist Ishaq Diwan explained that \u201cthe current financial path is unsustainable. If we continue in these countries on the same path, there's financial disaster \u2014 we run into a wall\u201d. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Policy makers face a \u201cfiscal trilemma\u201d: <\/strong>Countries are struggling to simultaneously achieve growth and development goals, ensure debt sustainability, and avoid crossing political red lines, but countries can only effectively choose two of these, IMF Chief Economist Pierre Olivier Gourinchas said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Growth is the only stable solution for the region: <\/strong>The consensus among some experts is that the only stable and long-term solution to the region's fiscal and social challenges is to ignite significant growth. This requires a shift in strategy beyond fiscal adjustments. Many MENA countries, including Egypt, have experienced a lost decade of slow growth and rising debt, which \u201cfiscal adjustment alone is not sufficient\u201d to fix, according to Diwan. Instead, Diwan proposed that a fundamental shift toward a growth-oriented model, potentially with international support, is imperative.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Structural reforms, not just fiscal policy, are key to growth:<\/strong> The IMF's view, shared by some panelists, is that achieving sustainable growth primarily depends on structural reforms that improve resource allocation and productivity in the medium term, rather than relying on fiscal policy itself to directly stimulate growth. Gourinchas explained that \u201cwhen we talk about growth, it seems to me it's not so much about fiscal policy per se but about structural reforms \u2014 it's about the things that will improve resources and productivity in the medium term.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- Egypt's high debt service burden and market skepticism: <\/strong>Although Egypt is embarking on a plan to significantly cut the amount it allocates to debt servicing through improving the country\u2019s creditworthiness to borrow for less and restructuring debt, alongside a fall in global interest rates, Diwan warns that investors appear unconvinced. The differences in yields between Egyptian bonds on one hand and US and European bonds on the other point toward a continued belief that Egypt will remain a risky wager with the higher interest rates to match.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#7- Egypt is crowding out of private sector credit: <\/strong>Egypt was presented as a \u201cclassical case\u201d where increasing government borrowing has led to a continuous decrease in credit available to the private sector, hindering its potential dynamism and contributing to low investment levels, said AUC Economics Professor and <font face=\"Arial\">former&nbsp;<\/font>Deputy Planning Minister Ahmed Kamaly.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#8- Egypt's industrialization hopes tied to regional integration: <\/strong>Panelists emphasized that for nations like Egypt to realize ambitious industrial policy goals and economic diversification, deeper regional coordination is paramount. \u201cWithout some kind of regional coordination there is a glass ceiling in terms of what can be achieved,\u201d argued economist and academic Amir Lebdioui, highlighting the need to overcome individual market size constraints and leverage complementary strengths across MENA. This sentiment was echoed by fellow economist and academic El Mouhoub Mouhoud, who pointed to intra-regional trade transaction costs being \u201cfour times higher than trade between MENA countries and Europe,\u201d suggesting that greater integration, potentially driven by GCC leadership, could help drive Egypt's economic development.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#9- <\/strong><strong>Act preemptively, don't wait when it comes to inflation: <\/strong>Central banks across the region were generally \u201ctoo slow\u201d to react to the recent global inflation surge, said economist and academic Kristin Forbes. The key lesson is for monetary authorities to \u201cact preemptively\u201d and focus not just on the inflation peak but the \u201cduration of deviations.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#10- Lessons from Egypt's past industrial policy and the need for a new approach: <\/strong>Egypt's historical experience with industrial policy, such as targeting labor-intensive sectors like ready-made garments, which still faced competitiveness issues, was brought up. This highlights the need for any new industrial strategy to carefully identify latent comparative advantages and avoid past pitfalls of insufficient protection or coordination, a theme resonating with expert calls for smarter, targeted state facilitation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- IMF Deputy Managing Director Nigel Clarke <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/lynx-strategic-business-advisors_lynx-lynxforum-imf-activity-7330118053260668928-tDPC\/?utm_source=share&amp;utm_medium=member_ios&amp;rcm=ACoAACVpYu0BF98FAQoHF_pxELgQ4tTARQKK7aQ\" style=\"\" rel=\"noopener\">dropped by<\/a><\/strong><strong> the Lynx Forum <\/strong>on Sunday during his trip to the country to accompany the Fund delegation in town for its fifth review of Egypt\u2019s Extended Fund Facility Arrangement. Clarke discussed the ongoing structural reforms, the challenges facing the private sector, and more with Lynx and senior executives from energy, banking, fintech, telecom, healthcare, F&amp;B, automotive, and engineering sectors.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"665559\" 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=\"665559\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/sherif-elatfy-tapped-as-al-tamimi-companys-energy-head-in-egypt\/\">\r\n                            Sherif Elatfy tapped as Al Tamimi &amp; Company\u2019s energy head in Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/sherif-elatfy-tapped-as-al-tamimi-companys-energy-head-in-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/sherif-elatfy-tapped-as-al-tamimi-companys-energy-head-in-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/sherif-elatfy-tapped-as-al-tamimi-companys-energy-head-in-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Sherif Elatfy tapped as Al Tamimi &#038; Company\u2019s energy head in Egypt&url=https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/sherif-elatfy-tapped-as-al-tamimi-companys-energy-head-in-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/sherif-elatfy-tapped-as-al-tamimi-companys-energy-head-in-egypt\/&title=Sherif Elatfy tapped as Al Tamimi &#038; Company\u2019s energy head in Egypt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Sherif+Elatfy+tapped+as+Al+Tamimi+%26%23038%3B+Company%E2%80%99s+energy+head+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F05%2F20%2Fsherif-elatfy-tapped-as-al-tamimi-companys-energy-head-in-egypt%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\/20\/sherif-elatfy-tapped-as-al-tamimi-companys-energy-head-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1113.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"665560\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/sherif-elatfy-tapped-as-al-tamimi-companys-energy-head-in-egypt\/1113-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1113.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1113.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1113.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1113.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-665559\" class=\"content-area-description single-story post-665559 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-al-tamimi-company tag-enterpriseam tag-moves 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\/.14004c56-76d9-46be-af43-3e9e800206db.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Tamimi &<\/strong><strong> Company appointed Sherif Elatfy (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/sherif-elatfy-920ba41b9\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>) as head of energy for its Egypt <\/strong><strong>office<\/strong>, the firm said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/1558.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. Elatfy joins from Ibrachy & Dermarkar, where he also headed the energy department. He brings more than three decades of experience advising on oil and gas, renewables, power, and infrastructure, including 23 years as general counsel at ExxonMobil Egypt and four years as legal counsel at BP.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they sai<\/strong><strong>d:<\/strong> \u201cSherif\u2019s leadership will be instrumental in strengthening our capabilities and expanding our offering to clients operating in this critical sector,\u201d said Ayman Nour, partner and head of the firm\u2019s Egypt office. \u201cHis arrival comes at a pivotal time as Egypt continues to prioritize energy diversification, sustainability, and infrastructure growth.\u201d<\/p>\n\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\/al-tamimi-company\/\">Al Tamimi &amp; Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/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=\"665561 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=\"665561\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/665561\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-665561\" class=\"content-area-description single-story post-665561 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.instagram.com\/reel\/DHs9VNZtJeS\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/770.jpg?ssl=1\"><\/a><\/span><\/p>\n\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=\"665562\" 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=\"665562\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/lebanese-president-joseph-aoun-was-in-town\/\">\r\n                            Lebanese President Joseph Aoun was in town                        <\/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\/20\/lebanese-president-joseph-aoun-was-in-town\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/lebanese-president-joseph-aoun-was-in-town\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/lebanese-president-joseph-aoun-was-in-town\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Lebanese President Joseph Aoun was in town&url=https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/lebanese-president-joseph-aoun-was-in-town\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/lebanese-president-joseph-aoun-was-in-town\/&title=Lebanese President Joseph Aoun was in town\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Lebanese+President+Joseph+Aoun+was+in+town+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F05%2F20%2Flebanese-president-joseph-aoun-was-in-town%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\/20\/lebanese-president-joseph-aoun-was-in-town\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1603.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"665563\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/lebanese-president-joseph-aoun-was-in-town\/1603-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1603.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1603.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1603.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1603.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-665562\" class=\"content-area-description single-story post-665562 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-enterpriseam tag-last-nights-talk-shows tag-middle-east-politics 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\/.6b8278a1-829b-4fc1-9e22-0124faa23b0d.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Two main topics dominated the airwaves last night: <\/strong>Lebanese President Joseph Aoun\u2019s time in Egypt <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid0ixYkKyZtyqLAsQtQ2aqPdmc1CWQLqeCFFK5ZPqZGzJU2PuNY5SfoZkHGTGesx8asl\" style=\"\" rel=\"noopener\">and his meeting<\/a> with President Abdel Fattah El Sisi and MSA University founder Nawal El Degwi\u2019s recent house robbery and the ongoing investigations.<\/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>El Sisi and Aoun talk regional issues: <\/strong>The two leaders discussed regional issues of common interest, namely Lebanon and Gaza \u2014 El Sisi reiterated Egypt\u2019s support for Lebanon as it works to achieve stability and preserve its sovereignty. El Sisi called for an immediate withdrawal of Israeli forces from all Lebanese territories. Aoun stressed the importance of Lebanese stability for the region, calling for the Arab and international community to unite on the issue\/<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The joint presser the two leaders held following their meeting got coverage<\/strong> from Kelma Akhira\u2019s Lamees El Hadidi (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=e5A2DbrBcCQ\" style=\"\" rel=\"noopener\">watch, runtime: 2:09<\/a>), Al Hayah Al Youm\u2019s Lobna Assal (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=EHqKbWQauT8\" style=\"\" rel=\"noopener\">watch, runtime: 2:03<\/a>), and Ala Mas\u2019ouleety\u2019s Ahmed Moussa (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=1ViC57sU7os\" style=\"\" rel=\"noopener\">watch, runtime: 6:52<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO ON THE AIRWAVES- <\/strong>El Degwi believes she was robbed of EGP 50 mn, USD 3 mn, GBP 350k, and 15 kg of gold when her second home in 6th of October was broken into and her safes had their combinations changed. With the authorities still unable to open the safes, it remains unclear if the money and gold were stolen or if the combination was just changed. \u201cEl Degwi suspects one of her grandchildren stole the money and changed the passwords of the safes where she kept her belongings,\u201d Al Masry Al Youm managing editor Yousry El Badry told El Hekaya\u2019s Amr Adib (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=fAQPMMtJ6pM\" style=\"\" rel=\"noopener\">watch, runtime: 11:57<\/a>). Moussa (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=gD1-IMoaLSY\" style=\"\" rel=\"noopener\">watch, runtime: 9:46<\/a>) and El Hadidi (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=i9eE7PAtidQ\" style=\"\" rel=\"noopener\">watch, runtime: 11:16<\/a>) also had coverage. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"665564\" 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=\"665564\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/oil-ministry-receives-more-bids-for-mediterranean-exploration-blocks\/\">\r\n                            Oil Ministry receives more bids for Mediterranean exploration blocks                        <\/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\/20\/oil-ministry-receives-more-bids-for-mediterranean-exploration-blocks\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/oil-ministry-receives-more-bids-for-mediterranean-exploration-blocks\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/oil-ministry-receives-more-bids-for-mediterranean-exploration-blocks\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Oil Ministry receives more bids for Mediterranean exploration blocks&url=https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/oil-ministry-receives-more-bids-for-mediterranean-exploration-blocks\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/oil-ministry-receives-more-bids-for-mediterranean-exploration-blocks\/&title=Oil Ministry receives more bids for Mediterranean exploration blocks\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Oil+Ministry+receives+more+bids+for+Mediterranean+exploration+blocks+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F05%2F20%2Foil-ministry-receives-more-bids-for-mediterranean-exploration-blocks%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\/20\/oil-ministry-receives-more-bids-for-mediterranean-exploration-blocks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2107.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"665565\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/oil-ministry-receives-more-bids-for-mediterranean-exploration-blocks\/2107-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2107.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2107.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2107.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2107.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-665564\" class=\"content-area-description single-story post-665564 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-egyptian-drilling-company tag-energy tag-enterpriseam tag-oil-and-gas wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t\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\/.90b66578-44cf-4066-bc38-9ff28e62fe83.mp3\"><\/audio><\/figure>\n<p class=\"tag-border-left\">ENERGY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Oil Ministry<\/strong><strong> has received two bids for seven exploration blocks in the Mediterranean<\/strong>, an unnamed official told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2025\/05\/19\/%D8%A7%D9%84%D8%A8%D8%AA%D8%B1%D9%88%D9%84-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D8%AA%D9%84%D9%82%D9%89-%D8%B9%D8%B1%D8%B6%D9%8A%D9%86-%D9%84%D8%AA%D9%86%D9%85%D9%8A%D8%A9-7-%D8%A7%D9%83%D8%AA%D8%B4%D8%A7%D9%81%D8%A7%D8%AA-%D8%BA%D8%A7%D8%B2%D9%8A%D8%A9-%D8%A8%D8%A7%D9%84%D8%A8%D8%AD%D8%B1-%D8%A7%D9%84%D9%85%D8%AA%D9%88%D8%B3%D8%B7\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. The reported offers follow <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/69732c4a-c872-4814-bb50-8a2c50a1973b\/el-sisi-ratifies-new-labor-law\" style=\"\" rel=\"noopener\">unconfirmed media reports<\/a> earlier this month that international oil giants Chevron, Shell, and Eni had submitted offers for exploration blocks in the Mediterranean.<\/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>ICYMI-<\/strong> Egyptian Natural Gas Holding Company launched bids for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0cd315b9-f330-4173-8492-6cba27b83e8d\/stellantis-in-talks-with-gov%e2%80%99t-to-start-assembling-fiat,-citroen,-and-opel-models-locally.-plus:-sodic,-cib-+-chemicals-&amp;-fertilizers-export-council,-misr-ins.,-eaton,-msmeda\" style=\"\" rel=\"noopener\">12 new oil and gas<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0cd315b9-f330-4173-8492-6cba27b83e8d\/stellantis-in-talks-with-gov%e2%80%99t-to-start-assembling-fiat,-citroen,-and-opel-models-locally.-plus:-sodic,-cib-+-chemicals-&amp;-fertilizers-export-council,-misr-ins.,-eaton,-msmeda\" style=\"\" rel=\"noopener\">exploration blocks<\/a> in the Mediterranean and Nile Delta in August last year, offering 10 offshore and two onshore areas. Technical and financial offers will be evaluated and the blocks will be awarded during the first quarter of the fiscal year 2025-26.<\/p>\n<p class=\"tag-border-left\">EXPANSION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>State-owned Eg<\/strong><strong>yptian Drilling Company is looking to enter India, the UAE, Qatar, Oman, <\/strong><strong>Turkey, Algeria, West Africa, Brazil, and Thailand<\/strong>, Chairman Osama Kamel told <a target=\"_blank\" href=\"https:\/\/x.com\/AlArabiyaBN_EG\/status\/1924382014544769174\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. The company also plans to expand its footprint in Saudi Arabia and Kuwait, where it already operates.<\/p>\n\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\/egyptian-drilling-company\/\">Egyptian Drilling Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"665566\" 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=\"665566\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/05\/20\/big-tech-is-no-longer-leading-the-2025-market-rally\/\">\r\n                            Big Tech\u2019s dominance fades as other sectors fuel the 2025 rebound                        <\/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\/20\/big-tech-is-no-longer-leading-the-2025-market-rally\/\" 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-image-meta=\"[]\" data-image-title=\"1583.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1583.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1583.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-665566\" class=\"content-area-description single-story post-665566 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-equities tag-financial-markets tag-planet-finance tag-sp-500 tag-tariffs tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.a1f28891-112f-4b3e-9fe2-806a980f77f0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Wall Street\u2019s<\/strong><strong> Magnificent 7 are losing their shine<\/strong>, with the indices that track tech heavyweights Apple, Alphabet, Amazon, Tesla, Meta, Microsoft, and Nvidia now lagging behind the S&amp;P 500 throughout the year so far, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-05-18\/big-tech-goes-from-stock-market-s-safest-bet-to-biggest-question?srnd=phx-alternative-investments\" style=\"\" rel=\"noopener\">Bloomberg<\/a> notes.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s only the second time in a decade that tech\u2019s powerhouses have underperformed the <\/strong><strong>broader market during the year<\/strong>, a sharp turnaround from 2024 when tech and telecom stocks led the S&amp;P 500 to a historic 23% annual gain.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BY THE NUMBERS- <\/strong>The now not-so-magnificent tech stocks are collectively down 4.4% since the start of the year, while the broader index has recently emerged back in the green at 1.4% following the announcement of a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c6785b59-0af4-4c18-a25d-3be7c44d1796\/temporary-respite-as-us-%253cmark%253echina%253c%2Fmark%253e-trade-war-eases-with-90-day-truce\" style=\"\" rel=\"noopener\">temporary US-China trade war truce<\/a> earlier this month. This is in stark contrast to the decade-long view, which saw the S&amp;P 500\u2019s 181% gains dwarfed by Big Tech\u2019s 2179% gains. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investors are now looking toward other sectors<\/strong>, including industry, utilities, and finance, which are fueling investors' interest this year. The move signals a sea change in approach as investors start to focus more on company fundamentals than macro uncertainty. \u201cThe market is starting to look back more at individual stocks and companies and financial strength and innovation,\u201d RGA Investments CIO Rick Gardner told Bloomberg. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But some still see an approaching Big Tech comeback in the cards<\/strong>, including Gardner who has been building up his stock portfolio on the assumption of a recovery. Hedge funds are also slowly returning, with Goldman Sachs\u2019 prime brokerage reporting the fastest US equity buying since April 9 \u2014 the day markets surged on Trump\u2019s tariff reprieve \u2014 which was led by tech stocks.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not all of tech\u2019s biggest names are having a bad year<\/strong>, with Meta up 9.4% YTD and Microsoft gaining 8.9% since the start of the year, boosted by solid earnings and limited China exposure. Despite initial concerns, Nvidia is flat for the year ahead of its next earnings release on 28 May.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Taking the Maginificent 7 down a peg or two could be good for the market overall<\/strong>, with the S&amp;P 500\u2019s ability to climb despite Big Tech losses a sign of a healthier and more sustainable market, according to Principal Asset Management CIO George Maris. \u201cYou probably have a healthier, more fundamentally-oriented market if you have greater participation across the investment universe,\u201d he explained.<\/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 green in early trading this morning. <\/strong>Japan\u2019s Nikkei is up 0.6%, Korea\u2019s Kospi is looking at gains of 0.1%, the Shanghai Composite and the Hang Seng are both in the green, up 0.3% and 1%, respectively. <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">31,356<\/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\">-1.1% (YTD: +5.4%)<\/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>USD (CBE)<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 49.99<\/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 50.12<\/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><strong>) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 49.99<\/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 50.09<\/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-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,405<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: -5.2%)<\/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>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\">9,666<\/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: +2.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,491<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +6.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,964<\/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: +1.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,699<\/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: +6.4%)<\/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>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\">5,427<\/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: +10.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 65.54<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 3.12<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3%<\/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 3,230<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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 105,313<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +12.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">868.1<\/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: +11.6%)<\/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 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\">143.4<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +2.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">18.14<\/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\">+5.2% (YTD: +4.6%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 1.1% at yesterday\u2019s close<\/strong> on turnover of EGP 3.1 bn (32.3% above the 90-day average). Regional investors were the sole net buyers. The index is up 5.4% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Qalaa Holdings (+1.5%), EFG Holding (+0.5%) and Ibnsina Pharma (+0.2%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>E-finance (-2.6%), Egypt Kuwait Holding -EGP (-2.4%) and Credit Agricole (-2.3%).<\/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\/equities\/\">equities<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sp-500\/\">S&amp;P 500<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tariffs\/\">Tariffs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"665568\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">13<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/the-lowdown-on-the-emerging-beverage-carton-recycling-sector\/\">\r\n                            The lowdown on the emerging beverage carton recycling sector<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/the-lowdown-on-the-emerging-beverage-carton-recycling-sector\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The initiative brings fresh momentum to the budding UBC recycling market, which started to take shape in recent years following the entry of a small number of players. In this story, we dive into the mechanics and impact of the new project while reviewing the sector\u2019s achievements and challenges to date.<\/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 full-cycle project at a glance: <\/strong>The initiative targets every stage of the recycling process. The local arm of Canada-based social fintech <a target=\"_blank\" href=\"https:\/\/plasticbank.com\/\" style=\"\" rel=\"noopener\">Plastic Bank<\/a> oversees the collection of cartons through a network of designated waste collection members. Local paper mill <a target=\"_blank\" href=\"https:\/\/elsoudi-paper.com\/our-companies\/\" style=\"\" rel=\"noopener\">Carta Misr<\/a> recycles the cartons into paper products after separating the paper fibers from the polymer and aluminum layers. And local recycling startup <a target=\"_blank\" href=\"https:\/\/tilegreen.org\/\" style=\"\" rel=\"noopener\">TileGreen<\/a> repurposes the remaining polymer and aluminum mix into building materials.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The initiative has collected enough cartons to be on pace to hit its target of gathering <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.sig.biz\/en\/news-insights\/press-releases\/sig-and-partners-unveil-project-aimed-at-boosting-recycling-and-improving-livelihoods-in-egypt-via-blockchain\" style=\"\" rel=\"noopener\">700<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.sig.biz\/en\/news-insights\/press-releases\/sig-and-partners-unveil-project-aimed-at-boosting-recycling-and-improving-livelihoods-in-egypt-via-blockchain\" style=\"\" rel=\"noopener\">metric<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.sig.biz\/en\/news-insights\/press-releases\/sig-and-partners-unveil-project-aimed-at-boosting-recycling-and-improving-livelihoods-in-egypt-via-blockchain\" style=\"\" rel=\"noopener\">tons by 2026<\/a><\/strong>, Plastic Bank Egypt Country Manager Ahmed Abdelaleem told EnterpriseAM. The three-year initiative aims to reshape Egypt's recycling sector while enhancing the livelihood of nearly 1k local collection members.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The project has been in the making for over a year: <\/strong>Swiss packaging company <a target=\"_blank\" href=\"https:\/\/www.sig.biz\/en\" style=\"\" rel=\"noopener\">SIG Group<\/a>, German development agency <a target=\"_blank\" href=\"https:\/\/www.giz.de\/en\/html\/index.html\" style=\"\" rel=\"noopener\">GIZ<\/a>, and Plastic Bank started building the infrastructure and operational base for the project in January 2024, Abdelaleem said. The first phase saw Plastic Bank raising awareness among its waste collection communities, educating collectors about the value of cartons, how to collect them, and their potential as a source of income, Abdelaleem said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Door-to-door collection maximizes waste capture: <\/strong>Collection members visit houses, facilities, and restaurants to collect all types of waste. \u201cThe waste is then taken to their homes, where other family members help sort it into plastic, aluminum, rubber, glass, paper, and cardboard,\u201d Abdelaleem explained. The project currently involves ten of Plastic Bank's 21 collection centers in Egypt, operating across two of the ten governorates where the company is present.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The recycled materials help drive a circular economy: <\/strong>While Carta Misr manufactures paper, TileGreen produces plastic blocks that can be used in construction, replacing concrete-based building materials, co-founder and CTO of TileGreen Khaled Raafat told us. The end product must be market-competitive, valued not only for its environmental benefits, but also for its technical and economic viability, Raafat said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The environmental benefits are profound: <\/strong>\u201cWhat we have done here helps cut more than 67% of the carbon emissions that are generated in the processes of landfilling or incineration,\u201d Raafat said. Complex plastic waste packaging materials \u2014 like those in question here \u2014 typically end up in landfills or incinerators, generating significant carbon emissions and inflicting environmental damage, Raafat explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The initiative is backed by a blockchain-secured platform. <\/strong>The Plastic Bank app allows collectors to record each item they collect, earning incentives sent directly to their digital wallets. The app also gives them access to social benefits like health, work and life insurance, grocery vouchers, and school supplies, among other perks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Public sentiment towards recycling is shifting: <\/strong>While the partners initially faced resistance from both internal and external stakeholders, \u201cpeople have been participating actively and positively\u201d ever since the project started showing promising results, Raafat said. Abdelaleem agreed with this notion, telling us that there is a rising level of awareness and interest from younger generations, particularly Gen-Z, in recycling initiatives. Plastic Bank plans to leverage its educational platforms to raise awareness about recycling and waste management initiatives across all age groups, he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The digital adoption landscape is also developing rapidly: <\/strong>\u201cWhen Plastic Bank launched in Egypt in late 2020, it was a challenge to convince collectors to set up digital wallets for receiving their income, and they were skeptical about the initiative,\u201d Abdelaleem said. During the first three months, incentives were distributed manually. As trust between the local collectors and Plastic Bank grew, they became more confident in the social enterprise, which encouraged them to open digital wallets and download the app to collect funds, he explained. \u201cIn Egypt, every home has a smartphone. Even if the collector doesn\u2019t own one, their spouse or one of their children likely does. All they really need is a smartphone, along with the digital wallet linked to their phone number and their national ID,\u201d Abdelaleem said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And the project could expand soon: <\/strong>\u201cWe believe that many companies here in Egypt will be interested in joining such a project, giving their products a second life instead of viewing them as waste,\u201d Abdelaleem said. The partners might expand to other governorates, ramp up collection quantities, or extend recycling to other materials, he 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\">A WIDER VIEW OF THE UBC RECYCLING MARKET-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s first UBC recycling facility opened <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b885dde8-8cbd-4530-9ceb-8787eb4f75f4\/\" style=\"\" rel=\"noopener\">last December<\/a><\/strong>, when global packaging solutions giant Tetra Pak and local cardboard manufacturer Uniboard inaugurated their EUR 2.5 mn facility in Sadat City. The plant is <a target=\"_blank\" href=\"https:\/\/www.tetrapak.com\/en-za\/about-tetra-pak\/news-and-events\/newsarchive\/tetra-pak-uniboard-egypt-recycling-facility\" style=\"\" rel=\"noopener\">expected to surpass<\/a> its annual recycling capacity target of 8k tons by 2028, ahead of its original five-year timeline.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The groundwork was laid a couple of years earlier: <\/strong>The two players, along with local diary giants Juhayna and Beyti, launched an initiative to improve UBS collection, recycling, and awareness during COP 27 in November 2022. Dubbed the <a target=\"_blank\" href=\"https:\/\/www.juhayna.com\/media_center\/the-declaration-of-the-first-egyptian-pact-for-used-beverage-cartons\/\" style=\"\" rel=\"noopener\">Egyptian pact for used beverage carton waste<\/a>, the initiative brings together key industry players \u2014 recyclers, collectors, government entities, and NGOs \u2014 to collaborate across the UBS value chain.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SIG was also hard at work in 2022. <\/strong>The company in October of that year <a target=\"_blank\" href=\"https:\/\/www.sig.biz\/en\/news-insights\/press-releases\/sig-launches-recycle-for-good-in-egypt-an-initiative-for-collection-of-used-aseptic-cartons-with-tagaddod?utm_source=chatgpt.com\" style=\"\" rel=\"noopener\">introduced<\/a> a mobile app-based system for collecting used aseptic carton packs directly from homes and food service businesses \u2014 dubbed <a target=\"_blank\" href=\"https:\/\/www.sig.biz\/en\/news-insights\/press-releases\/sig-launches-recycle-for-good-in-egypt-an-initiative-for-collection-of-used-aseptic-cartons-with-tagaddod?utm_source=chatgpt.com\" style=\"\" rel=\"noopener\">Recycle for Good<\/a> \u2014 in partnership with homegrown waste management startup <a target=\"_blank\" href=\"https:\/\/www.tagaddod.com\/\" style=\"\" rel=\"noopener\">Tagaddod<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Used beverage cartons make up about 6% of municipal waste in Egypt<\/strong>, Abdelaleem said, citing company data. Egypt produces an annual 100 mn tons of waste, mostly consisting of agricultural, drainage, canal, and municipal waste, according to National Solid Waste Management Program <a target=\"_blank\" href=\"https:\/\/www.scholarena.com\/article\/Municipal-Solid-Waste-Management.pdf\" style=\"\" rel=\"noopener\">data (pdf)<\/a> cited in the Journal of Waste Management and Disposal. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More corporate and government support is needed. <\/strong>\u201cThese initiatives have to be incentivized by the government in order for big corporations and key players to adopt more sustainable materials and develop recycling plans,\u201d Raafat said. He explained that more industrial and corporate entities in the country should be encouraged to participate for the market to shift from \u201csolo efforts\u201d to a broader movement.<\/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>Your top green economy stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>AlexFert + United 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 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8750afe1-141f-44f5-a95e-7155b96d05f3\/china%25e2%2580%2599s-midea-to-invest-usd-50-mn-in-egypt-operations\" style=\"\" rel=\"noopener\">develop a green ammonia project<\/a>.<\/li>\n<li><strong>Another step toward electricity market liberalization:<\/strong> The newly independent Egyptian Electricity Transmission Company approved five private renewables players for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cf8bf5ea-db99-41c7-baa8-dd3b6a759e19\/five-renewable-players-inch-closer-to-selling-electricity-to-consumers\" style=\"\" rel=\"noopener\">electricity sale licenses<\/a>. The approved companies operate five solar and wind plants, each with a 100 MW capacity.<\/li>\n<li><strong>Efforts to localize EV manufacturing:<\/strong> The Madbouly government is to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/27c290a9-24f7-4652-863b-108fabb2690c\/gov%25e2%2580%2599t-mulls-fresh-incentives-to-localize%253cmark%253e-ev%253c%2Fmark%253e-manufacturing\" style=\"\" rel=\"noopener\">introduce fresh<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/27c290a9-24f7-4652-863b-108fabb2690c\/gov%25e2%2580%2599t-mulls-fresh-incentives-to-localize%253cmark%253e-ev%253c%2Fmark%253e-manufacturing\" style=\"\" rel=\"noopener\">incentives to localize EV manufacturing<\/a>, with the Supreme Council for Vehicle Manufacturing currently looking into a handful of facilities \u2014 increased tax and custom breaks and investment incentives \u2014 for companies that want to localize EV production.<\/li>\n<\/ul>\n\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\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/recycling\/\">recycling<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"665570\" 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\/20\/665570\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-665570\" class=\"content-area-description single-story post-665570 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>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\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>TMG goes to Oman | Another securitization issuance | Takeaways from the IMF MENA Research Conference.<\/p>\n","protected":false},"featured_media":665540,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-665539","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"7e0c2a60-ad9b-48fd-bc1b-ed324fb61e4a","teaser":"TMG goes to Oman | Another securitization issuance | Takeaways from the IMF MENA Research 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