{"id":666941,"date":"2025-06-17T00:00:00","date_gmt":"2025-06-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=666941"},"modified":"2025-12-18T06:02:26","modified_gmt":"2025-12-18T06:02:26","slug":"egp-bounces-back-against-the-greenback-as-panic-among-foreign-investors-subsides","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egp-bounces-back-against-the-greenback-as-panic-among-foreign-investors-subsides\/","title":{"rendered":"EGP bounces back against the greenback as panic among foreign investors subsides"},"content":{"rendered":"<section id=\"666943\" 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=\"666943\">\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\/06\/17\/govt-form-crisis-committee-to-assess-israel-iran-war-impact\/\">\r\n                            Gov\u2019t form crisis committee to assess Israel-Iran war impact                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/867.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"666944\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/govt-form-crisis-committee-to-assess-israel-iran-war-impact\/867-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/867.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"867.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/867.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/867.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-666943\" class=\"content-area-description single-story post-666943 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-middle-east-politics tag-what-were-tracking-today 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\/6\/.b3c8970b-d70b-41e6-a024-a21152d6d4fb.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends.<\/strong> After a bumpy start to the week, calm has returned to the trading halls of the EGX and on the FX market \u2014 and we can only hope that we can say the same for the peoples of the region soon.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Leading the issue today is<\/strong> a prime example of why it's always important to take a step back and not get washed up in the moment \u2014 especially when it comes to where to put your money \u2014 with encouraging news that EGP climbed back up against the greenback after yesterday\u2019s drop. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also in today\u2019s issue is <\/strong>a one-on-one interview with IFC Africa VP Ethiopis Tafara, important changes to how property taxes for residential properties are calculated, important automotive localization updates, and more. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve got a packed issue, so without further ado, let\u2019s jump in.<\/strong><\/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- The cooldown continues in Cairo today<\/strong>, with a more manageable high of 34\u00b0C, a low of 22\u00b0C, and partly cloudy skies, 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 a similar story in Alexandria<\/strong>, with a high of 28\u00b0C and a low of 20\u00b0C, and partly cloudy skies.<\/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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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=\"wwtt1\"><\/a> <strong>#1-<\/strong><strong> A crisis committee to monitor the consequences of the Iran-Israel conflict has been <\/strong><strong>formed<\/strong>, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid028nHmEbW6wSPYSkXN94aohVZ9bwyrVowHdgKD1wq2RktUbmcjAHfD5ARTAHsEWpCkl\" style=\"\" rel=\"noopener\">statement<\/a>. Chaired by Madbouly, the committee will include the governor of the central bank and several key ministers, as well as representatives of the defense and interior ministries, the General Intelligence Service, and the Administrative Control Authority. The committee will meet periodically to discuss the impact of the ongoing developments on different sectors.<\/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=\"wwtt2\"><\/a> <strong>#2- The EGX is gearing u<\/strong><strong>p to launch its new mobile app EGX Gate, <\/strong>designed to allow investors to access the latest market news, view listed securities, monitor market activity, and get summaries of key indicators, according to a statement seen by EnterpriseAM. The move aims to \u201cempower investors by providing a more flexible way to follow the market and engage directly with followers and those interested in financial markets,\u201d the release said. <\/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>#3- The UK is workin<\/strong><strong>g to boost renewables investments<\/strong><strong> USD 500 mn within the next <\/strong><strong>six months, <\/strong>British Ambassador to Egypt Gareth Bayley said during the <a target=\"_blank\" href=\"https:\/\/x.com\/UKinEgypt\/status\/1934672934137659599\" style=\"\" rel=\"noopener\">launch<\/a> of the country\u2019s Green Growth Campaign in Egypt yesterday, the embassy said in a statement seen by EnterpriseAM. The newly launched campaign in the run up to COP30 in November will \u201cturbo-charge UK-Egypt collaboration on green growth, covering climate action, sustainable investment, and environmental innovation.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT- <\/strong>Investments in Egypt\u2019s renewables sector from the British state and private enterprises is already past the USD 1 bn mark.<\/p>\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>AUC\u2019s Onsi Sawiris School of Business will kick off the annual Business Forward event <\/strong><strong>today <\/strong>under the theme Future Forward: Inspiring Business in 2025. The event will dive into how \u201cbusinesses are navigating economic turbulence while driving innovation, exports and sustainable industrial growth,\u201d according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/698.pdf\" style=\"\" rel=\"noopener\">statement<\/a>. Panels will include insights from leading private sector players, including Travco General Manager Moataz Sedky, Edita CEO Alfred Younan, Talabat Egypt Managing Director Hadeer Shalaby \u2014 to name but a few, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/700.pdf\" style=\"\" rel=\"noopener\">event\u2019s agenda<\/a>.<\/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\">FROM THE HOUSE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The House preliminarily approved a draft law regulating state ownership in companies <\/strong><strong>fully or partially owned by the government<\/strong>. The legislation aims to improve governance, define state and company roles, and support the state\u2019s exit from certain activities or industries through a new centralized unit tasked with overseeing investment decisions. The final vote on the bill will take place in an upcoming session.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO GREENLIT BY THE HOUSE- <\/strong>MPs approved a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/879cb37a-205f-4201-a89b-164d5dc8064e\/\" style=\"\" rel=\"noopener\">protocol<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/879cb37a-205f-4201-a89b-164d5dc8064e\/\" style=\"\" rel=\"noopener\">agreement<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/879cb37a-205f-4201-a89b-164d5dc8064e\/\" style=\"\" rel=\"noopener\"><\/a> between Egypt and the UAE to avoid double taxation and crackdown on tax evasion, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac89de42-c6b1-4448-8b2d-b8c1c7be301e\" style=\"\" rel=\"noopener\">financing<\/a> from the French Development Agency for the Alexandria electricity control, and FDA funds for the East Alexandria Wastewater Treatment Plant.<\/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\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cEveryone should immediately evacuate Tehran,\" US President Donald Trump said <\/strong>in a post on <a target=\"_blank\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/114695407357588413\" style=\"\" rel=\"noopener\">Truth Social<\/a> that came out at about 4am in the city of 9 mn people, spreading panic across the city and causing alarm across the world\u2019s digital front pages. The news shortly followed Israel issuing evacuation orders to residents of a large part of Tehran, in an indication that was ramping up its attacks on the city as the conflict enters its fifth day. The death toll has now risen to 244 killed in Iran and 24 in Israel. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/03475842-014c-402b-8fd0-be77a89decc1\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-16\/trump-says-iran-wants-to-talk-after-waves-of-israeli-airstrikes?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/trump-says-everyone-should-immediately-evacuate-tehran-2025-06-16\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/live\/israel-iran-attacks-updates\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"http:\/\/theguardian.com\/us-news\/live\/2025\/jun\/16\/g7-summit-donald-trump-trade-tariffs-iran-israel-crisis-us-politics-live-news-updates\" style=\"\" rel=\"noopener\">Guardian<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt issue<\/strong><strong>d a joint statement with 21 countries from the Arab and muslim world to <\/strong><strong>condemn Israel\u2019s attacks on Iran<\/strong> and to call for an immediate halt to hostilities, the ruling out of targeting nuclear facilities, and other demands, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/1BfWN1KKCP\/\" style=\"\" rel=\"noopener\">statement<\/a> from the Foreign Ministry. Cosignotaries included Saudi Arabia, UAE, Iraq, Oman, Qatar, Kuwait, and Libya, among others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Trump\u2019s call for Russia to be readmitted to the G7 is also getting a lot of ink this morning<\/strong>, with the president describing the 2014 decision to kick the country out of the then-G8 as a \u201cbig mistake\". If Russia had remained in the group, the country wouldn\u2019t have invaded Ukraine in 2022, he claimed. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/seeking-unity-g7-meets-amid-escalating-ukraine-middle-east-conflicts-2025-06-16\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/seeking-unity-g7-meets-amid-escalating-ukraine-middle-east-conflicts-2025-06-16\/\" style=\"\" rel=\"noopener\">Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/06\/16\/world\/middleeast\/trump-israel-iran-g7-summit.html\" style=\"\" rel=\"noopener\">New York 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 take a look at how Sharm El Sheikh became the first Egyptian city to join ICLEI Local Governments for Sustainability's global network of sustainable cities.<\/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\/middle-east-politics\/\">Middle East politics<\/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=\"666945 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=\"666945\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/666945\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-666945\" class=\"content-area-description single-story post-666945 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/691.jpeg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span>Whether you\u2019re diving into turquoise waters, catching golden hour from your terrace, or just letting time drift by \u2014 Somabay is summer, redefined. Your ultimate escape, every single time.<\/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=\"666946\" 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=\"666946\">\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\">EGP Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/egp-bounces-back-against-the-greenback-as-panic-among-foreign-investors-subsides\/\">\r\n                            EGP bounces back against the greenback as panic among foreign investors subsides                        <\/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\/06\/17\/egp-bounces-back-against-the-greenback-as-panic-among-foreign-investors-subsides\/\" 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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Markets were less reactive despite continued Israel-Iran escalations overnight, the source added. 35\/34<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The USD exchange rate recorded EGP 50.20-50.21 for buying and EGP 50.31-50.34 for <\/strong><strong>selling at state and private bank<\/strong>s, down by around EGP 0.35 since the day before, following a halt in exits and purchases from Arab and Egyptian institutions, which helped restore confidence among foreign investors. According to the source, interbank USD transactions subsided to below USD 500 mn yesterday, compared to USD 800 mn on Sunday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cWe are still in a phase of uncertainty,<\/strong> but it seems the markets are becoming less affected by the repercussions \u2014 that is unless the escalation intensifies, in which case the impact will return,\u201d the source said. High interest rates on debt instruments could contribute to keeping hot money in the market for a longer period, the source added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Sunday marked the first day of trading since Israel and Iran started trading attacks, which led to the USD crossing the EGP 51 mark for the first time since April during trading, before being sold for around EGP 50.66-50.69 at state-owned and private banks by the end of trading. The dip was the result of foreign investors exiting our local debt market in favor of safer havens, three sources in the banking sector told EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGP\u2019s appreciation against the USD was also down to the limited selling activity in <\/strong><strong>the secondary marke<\/strong>t compared to Sunday, in what is an indication that foreign investors are continuing to hold positions in the local market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt is also facing pre-closing commitments for the FY 2024-2025 state budget,<\/strong> with the Finance Ministry set to close its accounts on 18 June. No further allocations will be disbursed between government entities in preparation for the start of the new fiscal year on 1 July.<\/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\/currencies\/\">currencies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egp\/\">EGP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egp-watch\/\">EGP watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign 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style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Coffee<\/strong><strong> Wi<\/strong><strong>th:<\/strong><strong> Ethiopis Tafara (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ethiopis-tafara-bb3b46145\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>), International Finance Corporation\u2019s <\/strong><strong>(IFC) vice <\/strong><strong>president for Africa. <\/strong>The World Bank\u2019s private sector-focused global development institution has invested a total of USD 10 bn in local development projects since it kicked off operations in Egypt many decades ago and is a prominent backer of private sector players in Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tafara recently stepped into the role: <\/strong>Tafara was <a target=\"_blank\" href=\"https:\/\/www.ifc.org\/en\/pressroom\/2025\/ifc-appoints-ethiopis-tafara-as-ifc-vice-president-for-africa\" style=\"\" rel=\"noopener\">tapped<\/a> as the IFC\u2019s VP for Africa just weeks ago and stepped into the role in April, taking over from S\u00e9rgio Pimenta, who retired after spending nearly 30 years with the IFC. Tafara has an impressive record, most recently serving as the vice president, chief risk, legal and sustainability officer and partnerships for the World Bank Group\u2019s Multilateral Investment Guarantee Agency (MIGA) and as vice president and general counsel for the IFC.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This week Tafara embarked on his first trip to Egypt as regional VP<\/strong>, where he met with a long list of government officials \u2014 including President Abdel Fattah El Sisi and Planning and International Cooperation Minister Rania Al Mashat \u2014 and private sector players. <strong>EnterpriseAM sat down with Tafara yesterday to learn more about his vision and strategy for Africa and his priorities when it comes to the Egyptian market.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM: Can you tell us a bit more about you and your vision coming into this <\/strong><strong>role?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ethiopis Tafara: My name is <\/strong><strong>Ethiopis<\/strong><strong> Tafara. I've been with the World Bank Group for about 12 <\/strong><strong>years now.<\/strong> I started at the IFC in 2013 as the General Counsel. I spent six or seven years in that role and then I was asked to join MIGA, which is responsible for providing guarantees against political risk, and I spent five years there. We went from about USD 4 bn in guarantees annually to about USD 12 bn by the time I left. Then I was asked to return to the IFC to take on the role of vice president for Africa, which I think is one of the best jobs one could get offered, so of course I said yes. Prior to that, I spent a number of years as a regulator, overseeing capital markets for the US government. I began my career as a lawyer at a law firm and also taught law.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I grew up around the world<\/strong>, as my father was a diplomat for the Ethiopian government. My formative years were spent in Italy and Ethiopia. I came to the US at about 16, went to university, then to law school.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Africa is a continent that has always held a lot of promise<\/strong>, and the demographics make things even more exciting. Around 70% of the population is under the age of 30. By 2050, one in four workers in the world will be African. That's a huge demographic dividend, but we need to make sure it remains a dividend, and that requires us to focus on job creation. I am hyper-focused on what we can do on the continent to create jobs for this large, energetic, idea-rich, and expectant youth population.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: You mentioned the potential of the continent \u2014 how does the IFC prioritize funding <\/strong><strong>and <\/strong><strong>investments when it comes to the African market? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ET: We've just begun developing a strategy we're calling IFC 2030, which focuses on areas <\/strong><strong>likely to enable job creation.<\/strong> The strategy emphasizes energy, because it's the ultimate enabler of development, and nothing is possible without energy. You may have heard of our Mission 300 or M300 initiative, under which the World Bank Group aims to reduce the number of people in Africa without electricity from 600 mn to 300 mn by 2030. So energy, especially in Africa, is going to be a major focus for me.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We're also focusing on access to finance for SMEs<\/strong>, which are responsible for 80-90% of the jobs in any economy. Financing SMEs remains a challenge in many markets, so we\u2019re working to crack that nut in Africa. I\u2019m particularly focused on transport and logistics, as job creation depends on connecting people to markets and markets to other markets. That requires infrastructure of ports, rail, roads, and more.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Agriculture is another key area. <\/strong>It's a business, and Africa holds huge potential here. About 65% of the world\u2019s uncultivated arable land is in Africa. The potential is vast, but we need to turn it into real business by investing in agricultural value chains. We\u2019ll also be looking at digital infrastructure. Connecting markets isn't just about roads and ports, it\u2019s also about digital access. The world is digitally connected, so we need to focus on extending access to digitalization on the continent.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tourism is another sector with major job creation potential.<\/strong> It\u2019s an ecosystem, including hotels, services, and supply chains, and the multiplier effects are huge. A statistic I like to quote is that around 60 mn people visit Paris every year, yet Egypt only attracts around 16 mn tourists a year despite its many touristic destinations like Aswan, the Giza Pyramids, Alexandria, and Sharm El Sheikh. Imagine attracting 60 mn tourists and the impact that would have on job creation and economic growth. Tourism contributes significantly to the economies of Italy, France, and Spain. That model can be applied in Africa. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s also trade finance<\/strong> \u2014 that\u2019s one thing we want to spend a fair amount of attention on. We need to figure out how to get African countries to see their neighborhood as a market and not only think about exporting outside of Africa. There\u2019s a role for us to play there in terms of trade finance itself and looking at how we can help break the barriers that make it difficult for countries to trade with their neighbors, whether they are physical or regulatory.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So these are the key areas of our strategy.<\/strong> I\u2019ll be working with my directors to apply this strategy in Africa, identifying the development gaps \u2014 where we fall short in transport, logistics, energy, and health \u2014 and how we can close those gaps. It\u2019s also about tailoring our approach country by country, because each situation is different. But we start with the big picture, apply it regionally, and then implement it locally.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We are looking to take more equity stakes in companies <\/strong>and help them expand locally and potentially regionally or globally as well. We want to go back to our role as an equity investor, particularly in the African continent. I always say that with debt you run companies, and with equity you build companies. So now we need to build companies on the continent to help close the development gaps. Equity is the riskiest kind of investment but has a huge impact, so we want to be careful and choose the right companies at the right time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We also want to focus on local currency lending as we lend to companies<\/strong>, many of which don\u2019t generate their revenues in hard currency. So lending to them in hard currency when they\u2019re generating revenues in local currency puts a burden on them in terms of debt service. So we're aiming to figure out how we can actually have local currency facilities in all the countries where we operate. The sources of the local currency will vary depending on the market, but this lets us lend more sustainably. Hard currency lending still makes sense for exporters, but local currency gives us more impact with less strain on borrowers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: The African and Egyptian labor markets are seeing major changes due to the AI boom. <\/strong><strong>How <\/strong><strong>do you see that shift, and how will these markets adapt to that change?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ET: AI is going to be a game changer, but I don't think it will eliminate jobs.<\/strong> Jobs will remain central to any economy. Many things will still require a human touch and originality, which is something AI can\u2019t provide. Many of the sectors I mentioned won\u2019t be fully replaced by AI. Take healthcare, for example \u2014 while some of its aspects may be automated, others won\u2019t. The care provided by nurses, support for the elderly, and consultations that involve human judgment and analysis all require human presence and empathy. So AI is a complement to what we\u2019re doing. It won\u2019t eliminate jobs \u2014 it could enhance some, transform others, but not replace them altogether.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Have you employed any changes to your strategy in terms of job creation to adapt to <\/strong><strong>this <\/strong><strong>change?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ET: I think we\u2019ve designed our strategy with the awareness that AI is out there.<\/strong> We deliberately picked sectors where we believe there\u2019s still strong potential for human employment, and these sectors will not be overtaken by AI. That said, take the M300 initiative, for example \u2014 while job creation doesn\u2019t come directly from building energy infrastructure, AI can help us implement smart grids or more efficient energy distribution. Energy is the enabler as it powers the businesses that will create jobs. AI is part of our thinking, but we\u2019ve chosen areas where job creation can happen despite the rise of AI.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: So looking at Egypt, what are your initial impressions from your current visit and <\/strong><strong>meetings <\/strong><strong>with officials over the past two days?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ET: My initial impression is that Egypt has a very dynamic market and a very committed <\/strong><strong>government<\/strong>, which is committed to enabling the private sector to help address development gaps. There\u2019s also significant interest and support from the multilateral community. At an event yesterday, we had a big gathering, including senior representatives from multilateral institutions, investors, and the government, all of them thinking about how they can contribute to Egypt\u2019s development. I\u2019m also very impressed by what the IFC has achieved in Egypt. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Just this year, we will commit around USD 1.2 bn in Egypt.<\/strong> Looking at our pipeline, we expect to match or even surpass this year\u2019s figure next year. So while it\u2019s only been two days, my impressions are very positive. There\u2019s real energy and commitment here.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: How do you view the reforms the Madbouly government has announced over the past year?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The asset monetization program is one important area.<\/strong> The government is exploring how to bring in the private sector to modernize and expand services traditionally run by the public sector, which can improve efficiency and ease pressure on public finances. They\u2019re committed to figuring out what reforms are needed to make that happen. Based on the conversations we\u2019ve had and the events I attended, it\u2019s clear the government is committed to figuring this out \u2014 how to enable the private sector to help close development gaps in health, financial access, energy, and tourism, which was generally the focus of a lot of discussions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Which sectors will the IFC be prioritizing when it comes to the Egyptian market? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ET: I can see tourism being an area where we might be able to do more. <\/strong>We are already looking at the airports under the asset monetization program \u2014 airports are critical to any tourism venture, but we want to look at tourism as an ecosystem. You have to look at hotels, you've to look at airports, you have to look at the supply chain for servicing or the services that support hotels. We'll always continue to work with financial institutions because financial inclusion is such an important part of our mandates. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our portfolio in Egypt is quite well balanced, but I would say where we need to really <\/strong><strong>push is <\/strong><strong>on manufacturing and export.<\/strong> There are also creative industries, that is something that has come to the fore in the past five years as an area of greater focus for us, given how creative industries end up being a huge source of business. We're looking to see if we can identify local champions that we could potentially grow into national champions. It's not a typical area when you think about development finance over the course of the past 50-60 years, but I think it's actually one where there may be a comparative advantage on this continent, so we should certainly lean into it.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Lastly, we have to touch on what\u2019s happening with the strategy to offer local airports <\/strong><strong>development to private players through public-private partnerships. Where does the strategy currently stand? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ET: The whole idea is to assist the government in leveraging private finance for airport <\/strong><strong>upgrades <\/strong><strong>and expansion<\/strong>, and they've identified a number of airports for which they want to do this. Our job is to figure out what the right partnership model is with the private sector on an airport-by-airport basis or looking at a collection of airports, and we're going to deliver that to them shortly. Our role is actually to make sure that we look at that particular airport, figure out what it needs, and make sure that the tender process and the tender criteria reflect what we think is in the best interests of that particular airport.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I am very excited about all of this<\/strong> \u2014 the upgrades of these airports are an important part of seeing what can be done in terms of increasing the volume of visitors. It is going to have a positive impact on the economy.<\/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\/coffee-with\/\">Coffee With<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-finance-corporation\/\">International Finance Corporation<\/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=\"666951\" 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=\"666951\">\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\">Tax<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/finance-ministry-to-establish-a-pricing-committee-to-calculate-property-taxes-for-residential-properties\/\">\r\n                            Egypt\u2019s Finance Ministry to establish a pricing committee to calculate property taxes for residential properties                        <\/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\/06\/17\/finance-ministry-to-establish-a-pricing-committee-to-calculate-property-taxes-for-residential-properties\/\" 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\/06\/17\/finance-ministry-to-establish-a-pricing-committee-to-calculate-property-taxes-for-residential-properties\/')\">\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\/06\/17\/finance-ministry-to-establish-a-pricing-committee-to-calculate-property-taxes-for-residential-properties\/\">\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=Finance Ministry to establish a pricing committee to calculate property taxes for residential properties&url=https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/finance-ministry-to-establish-a-pricing-committee-to-calculate-property-taxes-for-residential-properties\/\">\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\/06\/17\/finance-ministry-to-establish-a-pricing-committee-to-calculate-property-taxes-for-residential-properties\/&title=Finance Ministry to establish a pricing committee to calculate property taxes for residential properties\">\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=Finance+Ministry+to+establish+a+pricing+committee+to+calculate+property+taxes+for+residential+properties+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F06%2F17%2Ffinance-ministry-to-establish-a-pricing-committee-to-calculate-property-taxes-for-residential-properties%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\/06\/17\/finance-ministry-to-establish-a-pricing-committee-to-calculate-property-taxes-for-residential-properties\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/379.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"666952\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/finance-ministry-to-establish-a-pricing-committee-to-calculate-property-taxes-for-residential-properties\/379-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/379.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"379.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/379.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/379.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-666951\" class=\"content-area-description single-story post-666951 post type-post status-publish format-standard has-post-thumbnail hentry category-tax tag-enterpriseam tag-finance-ministry tag-legislation tag-real-estate tag-tax 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\/6\/.b3c8970b-d70b-41e6-a024-a21152d6d4fb.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A residential property pricing committee is in the works:<\/strong> The Finance Ministry is considering establishing a specialized pricing committee to determine market values and set rental benchmarks for residential properties, a government source told EnterpriseAM. The committee\u2019s price guides, which are set to be published in the Official Gazette, will serve as the basis for calculating property taxes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s on the committee? <\/strong>The committee will include the finance minister, the head of the Real Estate Tax Authority, and representatives from the housing, justice, and local development ministries. Valuation experts may also join the committee.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Valuations will be simplified:<\/strong> Taxes will be calculated based on a property value, avoiding the disputes that have long surrounded property valuations, our source said. The current method relies on a complex formula that uses the property's estimated capital value minus tax exemptions to calculate expected rental income \u2014 an approach that has resulted in frequent legal appeals. The valuation process will be handled by certified appraisers approved by the Financial Regulatory Authority.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The changes would also scrap caps on how much a property\u2019s assessed value \u2014 and <\/strong><strong>therefore its tax \u2014 can increase following a reassessment. <\/strong>Current caps stand at 30% for residential properties and 45% for non-residential units.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This comes as part of <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d94bbc0f-06dc-4e1f-abc4-d2c9adf34101\/madbouly-gov%25e2%2580%2599t-doubles%253cmark%253e-property-tax%253c%2Fmark%253e-exemption-threshold-to-egp-4-mn\" style=\"\" rel=\"noopener\">amendments to the property tax<\/a><\/strong><strong> approved by cabinet in May. <\/strong>The draft law includes a clause exempting taxpayers from tax if the property cannot be utilized due to emergency circumstances or demolition, a cap on late payment fines, and regulations for automatically raising the tax, among other changes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> The Finance Ministry is fast-tracking the completion of some regulations before submitting the draft amendments to the House for discussion as part of the state\u2019s plan to implement the country\u2019s largest-ever property tax reform package, our source said.<\/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\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/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\/tax\/\">tax<\/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=\"666953\" 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=\"666953\">\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\">A MESSAGE FROM VISA<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/visas-tap-to-phone-global-adoption-has-grown-200-year-on-year-worldwide\/\">\r\n                            Visa\u2019s Tap to Phone global adoption has grown 200% year on year worldwide                        <\/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\/06\/17\/visas-tap-to-phone-global-adoption-has-grown-200-year-on-year-worldwide\/\" 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\/06\/17\/visas-tap-to-phone-global-adoption-has-grown-200-year-on-year-worldwide\/')\">\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\/06\/17\/visas-tap-to-phone-global-adoption-has-grown-200-year-on-year-worldwide\/\">\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=Visa\u2019s Tap to Phone global adoption has grown 200% year on year worldwide&url=https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/visas-tap-to-phone-global-adoption-has-grown-200-year-on-year-worldwide\/\">\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\/06\/17\/visas-tap-to-phone-global-adoption-has-grown-200-year-on-year-worldwide\/&title=Visa\u2019s Tap to Phone global adoption has grown 200% year on year worldwide\">\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=Visa%E2%80%99s+Tap+to+Phone+global+adoption+has+grown+200%25+year+on+year+worldwide+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F06%2F17%2Fvisas-tap-to-phone-global-adoption-has-grown-200-year-on-year-worldwide%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\/06\/17\/visas-tap-to-phone-global-adoption-has-grown-200-year-on-year-worldwide\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/817.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"666954\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/visas-tap-to-phone-global-adoption-has-grown-200-year-on-year-worldwide\/817-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/817.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"817.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/817.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/817.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-666953\" class=\"content-area-description single-story post-666953 post type-post status-publish format-standard has-post-thumbnail hentry category-a-message-from-visa tag-a-message-from-visa tag-enterpriseam tag-visa 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\/6\/.b3c8970b-d70b-41e6-a024-a21152d6d4fb.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Visa\u2019s seamless and secure Tap to Phone technology transforms smartphones into POS devices. It has revolutionized the shopping experience for consumers and unlocked opportunities for small businesses. In the Middle East alone, adoption rates have grown exponentially, recording double- and triple-digit growth year-on-year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a target=\"_blank\" href=\"https:\/\/usa.visa.com\/products\/tap-to-phone.html\" style=\"\" rel=\"noopener\">Learn more<\/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\/a-message-from-visa\/\">A MESSAGE FROM VISA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/visa\/\">Visa<\/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=\"666955\" 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=\"666955\">\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\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/stellantis-kicks-of-local-production-of-citroen-model-with-7k-annual-rollout-target\/\">\r\n                            Stellantis kicks of local production of Citroen model with 7k annual rollout target                        <\/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\/06\/17\/stellantis-kicks-of-local-production-of-citroen-model-with-7k-annual-rollout-target\/\" 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\/06\/17\/stellantis-kicks-of-local-production-of-citroen-model-with-7k-annual-rollout-target\/')\">\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\/06\/17\/stellantis-kicks-of-local-production-of-citroen-model-with-7k-annual-rollout-target\/\">\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=Stellantis kicks of local production of Citroen model with 7k annual rollout target&url=https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/stellantis-kicks-of-local-production-of-citroen-model-with-7k-annual-rollout-target\/\">\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\/06\/17\/stellantis-kicks-of-local-production-of-citroen-model-with-7k-annual-rollout-target\/&title=Stellantis kicks of local production of Citroen model with 7k annual rollout target\">\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=Stellantis+kicks+of+local+production+of+Citroen+model+with+7k+annual+rollout+target+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F06%2F17%2Fstellantis-kicks-of-local-production-of-citroen-model-with-7k-annual-rollout-target%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\/06\/17\/stellantis-kicks-of-local-production-of-citroen-model-with-7k-annual-rollout-target\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/863.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"666956\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/stellantis-kicks-of-local-production-of-citroen-model-with-7k-annual-rollout-target\/863-jpg-23\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/863.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"863.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/863.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/863.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-666955\" class=\"content-area-description single-story post-666955 post type-post status-publish format-standard has-post-thumbnail hentry category-automotive tag-automotive 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\/6\/.b3c8970b-d70b-41e6-a024-a21152d6d4fb.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Global auto<\/strong><strong>motiv<\/strong><strong>e player Stellantis has started producing Citroen\u2019s C4X <\/strong><strong>model in Egypt <\/strong>at the factories of the Arab Organization for Industrialization (AOI), according to an Ittihadeya <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02oVRxw3LtMr3ipTkz46v699cw2vaEpFZfAmS9tWvZWhZry6rXbG7XVYVJLx8M1Bxpl\" style=\"\" rel=\"noopener\">statement<\/a>. The project targets to roll out 7k cars a year for the coming four years and will have a local component ratio of 45%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another locally produced model in cooperation with Ste<\/strong><strong>llantis will roll out in late 2026<\/strong>, AOI head Mokhtar Abdel Latif said. Abdel Latif did not reveal the brand name of the planned vehicle, but he did say that AOI facilities will produce 240k of the new model, where it will be exclusively manufactured.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We will have to wait and see what brand name the new model will fall under<\/strong> \u2014 with brands from Opel, Fiat, Jeep, Ram, and Peugeot, all the way to Maserati and Lancia under Stellantis\u2019 wings \u2014 but the smart money would be on a new Jeep or Citroen model given they are already being produced here. An Egyptian-made Maserati, Lancia, Alfa Romeo, or Dodge is decidedly less likely \u2014 but we can always dream.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REME<\/strong><strong>MBER- <\/strong>Last year, Stellantis <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e3b6f16-007f-4e13-8064-dc072b9750b9\/auto-players-promise-significant-investments-in-egypt-as-localization-push-continues\" style=\"\" rel=\"noopener\">unveiled<\/a> plans to invest EUR 116 mn in the local manufacture of four vehicle models expected to hit the streets over the course of three years.<\/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\/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=\"666957\" 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=\"666957\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/flat6labs-ksaglint-ventures-back-darwinz-ai-with-usd-325k-in-first-ever-institutional-funding-round\/\">\r\n                            Flat6Labs KSA,Glint Ventures back Darwinz AI with USD 325K in first ever institutional funding round                        <\/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\/06\/17\/flat6labs-ksaglint-ventures-back-darwinz-ai-with-usd-325k-in-first-ever-institutional-funding-round\/\" 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\/06\/17\/flat6labs-ksaglint-ventures-back-darwinz-ai-with-usd-325k-in-first-ever-institutional-funding-round\/')\">\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\/06\/17\/flat6labs-ksaglint-ventures-back-darwinz-ai-with-usd-325k-in-first-ever-institutional-funding-round\/\">\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=Flat6Labs KSA,Glint Ventures back Darwinz AI with USD 325K in first ever institutional funding round&url=https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/flat6labs-ksaglint-ventures-back-darwinz-ai-with-usd-325k-in-first-ever-institutional-funding-round\/\">\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\/06\/17\/flat6labs-ksaglint-ventures-back-darwinz-ai-with-usd-325k-in-first-ever-institutional-funding-round\/&title=Flat6Labs KSA,Glint Ventures back Darwinz AI with USD 325K in first ever institutional funding round\">\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=Flat6Labs+KSA%2CGlint+Ventures+back+Darwinz+AI+with+USD+325K+in+first+ever+institutional+funding+round+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F06%2F17%2Fflat6labs-ksaglint-ventures-back-darwinz-ai-with-usd-325k-in-first-ever-institutional-funding-round%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\/06\/17\/flat6labs-ksaglint-ventures-back-darwinz-ai-with-usd-325k-in-first-ever-institutional-funding-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/861.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"666958\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/flat6labs-ksaglint-ventures-back-darwinz-ai-with-usd-325k-in-first-ever-institutional-funding-round\/861-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/861.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"861.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/861.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/861.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-666957\" class=\"content-area-description single-story post-666957 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-ai tag-darwinz-ai tag-enterpriseam tag-flat6labs tag-startup-watch tag-startups 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\/6\/.b3c8970b-d70b-41e6-a024-a21152d6d4fb.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi-Egyptia<\/strong><strong>n startup <\/strong><strong><a target=\"_blank\" href=\"http:\/\/thedar.ai\" style=\"\" rel=\"noopener\">Darwinz AI<\/a><\/strong><strong> raised USD 325k in a seed funding round<\/strong> led by Flat6Labs KSA and Glint Ventures, the company said in a&nbsp;<a href=\"https:\/\/ent.news\/2025\/6\/892.pdf\" target=\"_blank\" rel=\"noopener\">statement (pdf)<\/a>. The round marks the company\u2019s first institutional funding round after having until now been bootstrapped by its co-founders, co-founder Mohy Aboualam told EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Darwinz AI?<\/strong> Founded in Egypt in 2021 by Emad Elazhary and Mohy Aboualam, Darwinz AI is a startup that offers an AI copilot that helps marketing and PR teams \u201cincrease their daily productivity by up to 80%\u201d by helping track brand sentiment, detect potential crises, and analyse media coverage in real time through its flagship product <a target=\"_blank\" href=\"https:\/\/www.dima.darwinz.ai\/\" style=\"\" rel=\"noopener\">Dima<\/a>, Aboualam told us. The Arabic-first platform launched in late 2024 is now used by 300+ professionals across six MENA countries, including agencies and enterprise clients in telecoms, F&amp;B, banking, real estate, automotive, aviation, and the public sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fresh funds will go towards driving the startup's expansion ambitions<\/strong>, starting off with expanding its presence in the GCC from its office in Riyadh's The Garage. But the company also has more global ambitions beyond the 6 MENA nations it currently operates in, with the company \u201cworking on the productization aspect of our copilot to ensure it\u2019s ready for the next phase of global expansion in 2026,\u201d Aboualam said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Capital will also go towards further building its Dima platform<\/strong>, guided by their \u201cgrowing customer base and their feedback as they use the copilot in their daily operations.\u201d \u201cWe do not plan to roll out any new products, only further advancements in Dima to ensure we are the best solution or optimal solution globally in the specific use cases we are planning to copilot,\u201d Aboualam explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Its new backers will bring more to the table than just fresh financing<\/strong>, with Darwinz AI looking to benefit from Flat6Labs and Glint Ventures\u2019s experience building up and scaling companies, we were told.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>Following the seed round, Darwinz AI will knuckle down on following through on its set businesses plan before launching another funding round in 2H 2026 ahead of expanding outside the region. \u201cI would love in the next 18 months to have clients in countries that we never visited find, subscribe and benefit from Dima online,\u201d Aboualam said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** We sat down with Mohy Aboualam, co-founder and CEO of Darwinz AI in April for our<\/strong><strong> Founder of the Week column. <\/strong>Check it out <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a963be39-7318-4416-a988-326bb66283de\/meet-mohy-aboualam,-co-founder-and-ceo-of%253cmark%253e-darwinz%253c%2Fmark%253e-ai\" style=\"\" rel=\"noopener\">here<\/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\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/darwinz-ai\/\">Darwinz AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/flat6labs\/\">Flat6Labs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/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=\"666959 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=\"666959\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/666959\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-666959\" class=\"content-area-description single-story post-666959 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=\"666960\" 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=\"666960\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/ride-hailing-app-arrw-secures-operating-license-plus-real-estate-funds-nowpay-united-international-holding-company\/\">\r\n                            Ride-hailing app Arrw secures operating license. PLUS: Real estate funds, Nowpay + United International Holding Company                        <\/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\/06\/17\/ride-hailing-app-arrw-secures-operating-license-plus-real-estate-funds-nowpay-united-international-holding-company\/\" 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\/06\/17\/ride-hailing-app-arrw-secures-operating-license-plus-real-estate-funds-nowpay-united-international-holding-company\/')\">\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\/06\/17\/ride-hailing-app-arrw-secures-operating-license-plus-real-estate-funds-nowpay-united-international-holding-company\/\">\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=Ride-hailing app Arrw secures operating license. PLUS: Real estate funds, Nowpay + United International Holding Company&url=https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/ride-hailing-app-arrw-secures-operating-license-plus-real-estate-funds-nowpay-united-international-holding-company\/\">\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\/06\/17\/ride-hailing-app-arrw-secures-operating-license-plus-real-estate-funds-nowpay-united-international-holding-company\/&title=Ride-hailing app Arrw secures operating license. PLUS: Real estate funds, Nowpay + United International Holding Company\">\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=Ride-hailing+app+Arrw+secures+operating+license.+PLUS%3A+Real+estate+funds%2C+Nowpay+%2B+United+International+Holding+Company+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F06%2F17%2Fride-hailing-app-arrw-secures-operating-license-plus-real-estate-funds-nowpay-united-international-holding-company%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\/06\/17\/ride-hailing-app-arrw-secures-operating-license-plus-real-estate-funds-nowpay-united-international-holding-company\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/873.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"666961\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/ride-hailing-app-arrw-secures-operating-license-plus-real-estate-funds-nowpay-united-international-holding-company\/873-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/873.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"873.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/873.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/873.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-666960\" class=\"content-area-description single-story post-666960 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-automotive tag-capital-markets tag-egx tag-enterpriseam tag-manufacturing tag-real-estate tag-ride-hailing tag-transport 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\/6\/.b3c8970b-d70b-41e6-a024-a21152d6d4fb.mp3\"><\/audio><\/figure>\n<p class=\"tag-border-left\">TRANSPORT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Newly-launched R<\/strong><strong>ehla Rides secured its operating license to start offering ride-hailing <\/strong><strong>services <\/strong>through its app Arrw, according to a Transport Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02KUvvH82D2Dj11VpzBmVV1ciunyTzkMYbtsDmPYwoSck9ZAkWHCdVAXnx58XABKFhl\" style=\"\" rel=\"noopener\">statement<\/a>. The firm will invest EGP 400 mn in the first year of operation. It aims to have 425k active users and employ 10k drivers by the end of the second year of operation, as well as expand its current fleet of 600 cars to 100k within the coming three years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company will kick off operations with a three-month trial period in Alexandria and the <\/strong><strong>North Coast<\/strong> before expanding operations to encompass Cairo, the Delta region, Upper Egypt, and other tourist hotspots in the following 18 months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to gi<\/strong><strong>ve it a go? <\/strong>Download Arrw \u2014 Rehla\u2019s integrated transport services application \u2014 from the <a target=\"_blank\" href=\"https:\/\/apps.apple.com\/eg\/app\/arrw\/id6744344347\" style=\"\" rel=\"noopener\">App Store<\/a> or <a target=\"_blank\" href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.arrw.arrwClient&amp;hl=en&amp;pli=1\" style=\"\" rel=\"noopener\">Google Play<\/a>. <\/p>\n<p class=\"tag-border-left\">CAPITAL MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Four companies ha<\/strong><strong>ve applied to receive licenses to establish real estate investment <\/strong><strong>funds (REIFs)<\/strong>, which are now expected to go live in 3Q 2025, Financial Regulatory Authority (FRA) head Mohamed Farid told <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1934539090738758037\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The regulator has \u201csimplified procedures\u201d for issuing real estate fund licenses to speed up their launch, he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The groundwork for REIFs has already been laid<\/strong>, with Azimut and MNT-Halan <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c3a1a76-c62c-428f-a72b-c74c8641fd81\/azimut-partners-with-mnt-halan-to-launch-a-egp-250-mn-real-estate-investment-fund\" style=\"\" rel=\"noopener\">receiving the<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c3a1a76-c62c-428f-a72b-c74c8641fd81\/azimut-partners-with-mnt-halan-to-launch-a-egp-250-mn-real-estate-investment-fund\" style=\"\" rel=\"noopener\">green<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c3a1a76-c62c-428f-a72b-c74c8641fd81\/azimut-partners-with-mnt-halan-to-launch-a-egp-250-mn-real-estate-investment-fund\" style=\"\" rel=\"noopener\">light<\/a> earlier this year to set up a EGP 250 mn REIF, with plans to expand it to EGP 2 bn over two years. Similarly, Misr Real Estate Assets Management CEO Maha Abdel Razek told EnterpriseAM in February that the company is preparing to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/706214b6-d87f-41fa-9c7d-60f82bc0a4d9\/coffee-with:-maha-abdel-razek,-ceo-of-misr-real-estate-assets-management\" style=\"\" rel=\"noopener\">launch its first real estate fund<\/a> soon. Meanwhile, the FRA and Finance Ministry have been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a9aa4eda-ba6a-4f12-979b-437a1623ccf7\/more-flexibility-for-real-estate-funds%3F\" style=\"\" rel=\"noopener\">weighing amendments to REIF regulations<\/a> that could make the funds more attractive \u2014 including scrapping the 22.5% capital gains tax on property sold to REIFs and loosening a rule requiring funds to invest at least 80% of their portfolios in real estate assets or shares in real estate companies.<\/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>Egyptian fintech <\/strong><strong><a target=\"_blank\" href=\"https:\/\/nowpay.com\/\" style=\"\" rel=\"noopener\">Nowpay<\/a><\/strong><strong> launched a KSA-based payroll administration company Now <\/strong><strong>Access with Saudi\u2019s United International Holding Company<\/strong> \u2014 owner and operator of the Tas\u2019heel brand name \u2014 according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=88113&amp;anCat=1&amp;cs=4083&amp;locale=en\" style=\"\" rel=\"noopener\">disclosure<\/a> to the Tadawul. United inked an MoU with Nowpay <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/02ff3d60-70f8-4c9a-a718-e5a7ec047697\/uihc-to-set-up-new-fintech-company\" style=\"\" rel=\"noopener\">in January<\/a> to form the company with a total planned investment of SAR 75 mn, which the Saudi partner player has a majority stake in under a three-to-one split.<\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ride-hailing\/\">ride-hailing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"666962\" 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=\"666962\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/markets-rebound-but-oil-jitters-and-war-risks-keep-nerves-taut\/\">\r\n                            Markets rebound, but oil jitters and war risks keep nerves taut                        <\/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\/06\/17\/markets-rebound-but-oil-jitters-and-war-risks-keep-nerves-taut\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                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href=\"https:\/\/api.whatsapp.com\/send?text=Markets+rebound%2C+but+oil+jitters+and+war+risks+keep+nerves+taut+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F06%2F17%2Fmarkets-rebound-but-oil-jitters-and-war-risks-keep-nerves-taut%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\/06\/17\/markets-rebound-but-oil-jitters-and-war-risks-keep-nerves-taut\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/404.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"666963\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/17\/markets-rebound-but-oil-jitters-and-war-risks-keep-nerves-taut\/404-jpg-26\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/404.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"404.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/404.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/404.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-666962\" class=\"content-area-description single-story post-666962 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-capital-markets tag-enterpriseam tag-financial-markets tag-oil-and-gas tag-planet-finance tag-war-watch 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\/6\/.b3c8970b-d70b-41e6-a024-a21152d6d4fb.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Global equities rebounded yesterday<\/strong> as investors recalibrated after a bruising start of the week triggered by the escalation of strikes between Iran and Israel. The MSCI Emerging Markets Index rose nearly 1% on Monday, led by gains in GCC equities, while European and US stocks also posted gains. While the rebound reflects cautious optimism, tail risks remain firmly in place.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In Europe: <\/strong>The pan-European Stoxx 600 edged up 0.4%, led by a rally in energy and banking names, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/06\/16\/european-markets-on-june-16-stoxx-600-ftse-cac-dax.html\" style=\"\" rel=\"noopener\">CNBC<\/a> reports. The UK\u2019s FTSE also rose to a near record high, closing up 0.3%. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US stocks also rebounded due to speculation<\/strong> over a possible truce between Israel and Iran, with the S&amp;P 500 up 1% and the Nasdaq gaining 1.5%. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Middle East equities also joined the global rally<\/strong>, paring back some of the losses they made earlier this week and last Friday. The DFM gained 0.8%, ADX rose 0.2%, TASI was up 1.3%, and Egypt\u2019s EGX30 inched up 0.1%. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The geopolitical premium was on full display in energy markets:<\/strong> Brent erased earlier gains to trade just below USD 75, paring back losses after last week\u2019s 7% surge. Oil options volumes soared on Monday, with traders snapping up bullish Brent calls at USD 80 and USD 100, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-16\/oil-options-attract-bulls-in-heavy-trade-as-mideast-risks-expand\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported separately. Brent\u2019s futures curve steepened into backwardation, suggesting fears of near-term supply shocks, especially if tensions escalate toward the Strait of Hormuz, through which 17 mn barrels per day of oil pass.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite calmer price action, the \u201cmargin for safety is getting ever narrower,\u201d<\/strong> strategist Robin Mills wrote for <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/business\/energy\/2025\/06\/15\/oil-iran-israel\/\" style=\"\" rel=\"noopener\">the National<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite the rebound, forecasts point to a weaker year for US equities. <\/strong> RBC Capital Markets warned that the S&amp;P 500 could drop up to 20% to 4.8k if higher oil prices drive inflation past 4%, earnings stall, and the Fed only cuts rates twice, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-16\/us-stocks-risk-20-drop-in-high-inflation-scenario-rbc-says?srnd=phx-markets&amp;embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. Even in a more benign scenario, the bank sees 13% downside from current levels. Other analysts, like Morgan Stanley\u2019s Michael Wilson, remain cautiously optimistic on corporate earnings.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bottomline? <\/strong>The rebound signals some relief, but the market\u2019s risk appetite is still constrained by oil price volatility, geopolitical uncertainty, and policy recalibration. For now, investors are hedging hard and staying nimble.<\/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 also on the rise<\/strong> as investors\u2019 attention splits between hopes for a potential truce in the Middle East and the Bank of Japan\u2019s interest rate prospective move. Japan\u2019s Nikkei is up 0.5%, while South Korea\u2019s Kospi gained 1.1%, and Hong Kong\u2019s Hang Seng was up 0.1%. Mainland China\u2019s CSI 300 is flat in early trading.<strong> Over on Wall Street<\/strong>, futures fell following yesterday\u2019s rebound. <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">31,042<\/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: +4.4%)<\/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 50.20<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 50.34<\/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 50.21<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 50.31<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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\">24.00% 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\">25.00% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,867<\/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\">+1.3% (YTD: -9.7%)<\/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\">9585<\/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: +1.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5407<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8% (YTD: +4.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">6033<\/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\">+0.9% (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>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\">8875<\/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: +8.6%)<\/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>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\">5340<\/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\">+0.9% (YTD: +9.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 73.23<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.74<\/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 3414.90<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 108,604.70<\/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\">+3.6% (YTD: +16.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">877.27<\/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: +12.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">144.23<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +3.1%)<\/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>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\">19.11<\/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\">-8.2% (YTD: +10.1%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 0.1% at yesterday\u2019s close<\/strong> on turnover of EGP 3.6 bn (23.8% above the 90-day average). Foreign investors were the sole net buyers. The index is up 4.4% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Orascom Construction (+5.5%), Edita (+3.3%), and Eipico (+2.3%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Orascom Development Egypt (-3.2%), Ibnsina Pharma (-2.1%), and Egypt Kuwait Holding -USD (-2.0%).<\/p><p class=\"tag-border-left\">CORPORATE ACTIONS- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Raya Holding <\/strong><strong>will pay out a dividend of <\/strong><strong>EGP 0.04<\/strong><strong> per share for its 1Q 2025 earnings <\/strong>after its general assembly greenlit the move, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/843.pdf\" style=\"\" rel=\"noopener\">E<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/843.pdf\" style=\"\" rel=\"noopener\">GX disclosure 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      <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">10<\/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\/sharm-el-sheikh-becomes-first-egyptian-city-to-join-iclei-local-governments-for-sustainabilitys-global-network-of-sustainable-cities\/\">\r\n                            Sharm El Sheikh becomes first Egyptian city to join ICLEI Local Governments for Sustainability's global network of sustainable cities<\/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 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                    <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/859.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"666965\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/sharm-el-sheikh-becomes-first-egyptian-city-to-join-iclei-local-governments-for-sustainabilitys-global-network-of-sustainable-cities\/859-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/859.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"859.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/859.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/859.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-666964\" class=\"content-area-description post-666964 goinggreen type-goinggreen status-publish has-post-thumbnail hentry category-going-green tag-enterpriseam tag-going-green tag-sharm-el-sheikh wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Sha<\/strong><strong>rm El Shei<\/strong><strong>kh is now among a 2.5k-strong group of regional and local <\/strong><strong>governments in the ICLEI Global Network for Sustainable Cities<\/strong>, marking the coastal city as the first in Egypt to make it onto the list and one of only a handful of Arab cities, the global network said in a <a target=\"_blank\" href=\"https:\/\/africa.iclei.org\/sharm-el-sheikh-makes-history-as-the-first-city-from-egypt-to-join-iclei\/\" style=\"\" rel=\"noopener\">statement<\/a> earlier this month. The announcement was also accompanied by the launch of the <a target=\"_blank\" href=\"https:\/\/greensharm.org\/\" style=\"\" rel=\"noopener\">Green Sharm sustainability platform<\/a>, an interactive knowledge hub showcasing the city's environmental achievements, community-driven initiatives, and green tourism offerings, according to a separate <a target=\"_blank\" href=\"https:\/\/africa.iclei.org\/sharm-el-sheikh-makes-history-as-the-first-city-from-egypt-to-join-iclei\/\" style=\"\" rel=\"noopener\">statement<\/a> from the United Nations Development Programme.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICLEI?<\/strong> The <a target=\"_blank\" href=\"https:\/\/iclei.org\/\" style=\"\" rel=\"noopener\">ICLEI Local Governments for Sustainability<\/a> \u2014 FKA the International Council for Local Environmental Initiatives \u2014 is a global alliance of cities and regions committed to sustainable urban development. The network aims to influence sustainability policy and drive local action across key areas. Once on board, members gain access to ICLEI\u2019s programs and must self-report progress on their sustainability initiatives. ICLEI does not impose specific policies on cities or enforce mandates, and each city sets its own goals and plans in line with local needs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sharm El Sheikh\u2019s inclusion in the network has a lot more behind it than just hosting COP27 in 2022, such as <\/strong><strong>what<\/strong><strong> happened before and since.<\/strong> \u201cMany may associate this achievement with COP27, but I see its origins going back to the Biodiversity COP14 in 2018, also hosted in Sharm El Sheikh,\u201d said Environment Minister Yasmine Fouad. From 2018 until now, the city has made important progress on the sustainability front, especially since the Environment Ministry launched the Green Sharm initiative in collaboration with the United Nations Development Programme and Global Environment Facility in 2022. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The city\u2019s efforts were about more than just boosting the use of renewable energy<\/strong> and also included a focus on sustainable transport, waste management, water conservation, the protection of biodiversity, and creating a system that works in support of, and not against, local communities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Due to its efforts, nearly a fifth of the city's energy now comes from renewable sources<\/strong>, with 51 MW of green energy covering 18% of the city\u2019s power needs at an investment cost of EGP 800 mn. The move toward solar also included a push to integrate solar panels into existing and under-construction buildings in the city, including the conference center, airport, museum, an international hospital, and ten hotels. Hotels were also given the incentive to invest in solar power by being able to get eco-certified under the Green Sharm initiative. Demand for fossil fuels was also reduced with the installation of 800 solar street lights alongside solar-powered water heaters. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sharm El Sheikh also overhauled its transport infrastructure to be greener and more <\/strong><strong>people-centered.<\/strong> Authorities built 145 km of dedicated cycling lanes crisscrossing the city, encouraging biking rather than driving. A public bike-sharing system was introduced \u2014 the first of its kind in Egyptian cities. The city also invested in electric mobility by rolling out Egypt\u2019s first electric bus fleet for public transit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another area of focus was waste management<\/strong>, which included community programs to recycle and reuse waste, such as a <a target=\"_blank\" href=\"https:\/\/www.beeahgroup.com\/beeah-group-and-green-planet-join-forces-in-landmark-10-year-contract-to-advance-sustainable-waste-management-in-egypts-sharm-el-sheikh\/\" style=\"\" rel=\"noopener\">project<\/a> to collect used cooking oil from hotels and homes to convert it into biodiesel fuel. The city upgraded to more efficient waste collection, invested in recycling facilities, and ran public awareness campaigns to minimize litter \u2014 all of which are particularly critical in a coastal environment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The city lies in a water-scarce region, so sustainable water management was vital. <\/strong>The city built new desalination plants and wastewater treatment upgrades, particularly in the Nabq Protected Area, to ensure a secure water supply without depleting natural aquifers. It also stepped up biodiversity protection, notably establishing programs to monitor and protect coral reefs and marine life along the Red Sea coast.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A war on plastic was declared in 2022<\/strong>, when the city banned single-use plastic bags and utensils in the city\u2019s hotels and restaurants \u2014 a ban that now covers 50 hotels and is expanding. The policy reduces plastic pollution that can harm marine life, especially important given the importance of dive tourism. The city is also working on phasing out single-use plastics in all shops.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sharm<\/strong><strong> may be the first, but it likely won\u2019t be the last Egyptian city in ICLEI\u2019s network. <\/strong>The Environment Ministry has <a target=\"_blank\" href=\"https:\/\/www.sis.gov.eg\/Story\/209169\/Environment-min.-We-work-to-add-other-Egyptian-cities-to-ICLEI-network?lang=en-us\" style=\"\" rel=\"noopener\">stated plans<\/a> to add more Egyptian cities to ICLEI\u2019s global sustainable cities network. In remarks to the press after Sharm\u2019s designation, Fouad said her team is already working on preparing other cities for membership.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A leading contender is Hurghada.<\/strong> Egypt and Unido launched the Green Hurghada project, explicitly aiming to replicate Sharm\u2019s success in a second city. The initiative will focus on cutting greenhouse gas emissions, protecting coastal biodiversity, and promoting climate-smart tourism practices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Larger metropolitan cities are also moving toward sustainability agendas, including <\/strong><strong>Cairo<\/strong>, which has just <a target=\"_blank\" href=\"https:\/\/mped.gov.eg\/singlenews?id=6283&amp;lang=en\" style=\"\" rel=\"noopener\">launched<\/a> a Green City Action Plan \u2014 with support from the EBRD. The plan aims to boost clean transportation and resilience in the capital. Cairo is now the <a target=\"_blank\" href=\"https:\/\/www.ebrdgreencities.com\/our-cities\/cities\/cairo\/\" style=\"\" rel=\"noopener\">third<\/a> Egyptian city to adopt such an action plan under EBRD\u2019s Green Cities program, following <a target=\"_blank\" href=\"https:\/\/www.ebrdgreencities.com\/our-cities\/cities\/alexandria\/\" style=\"\" rel=\"noopener\">Alexandria<\/a> and <a target=\"_blank\" href=\"https:\/\/moic.gov.eg\/news\/1370\" style=\"\" rel=\"noopener\">Sixth of October City<\/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\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sharm-el-sheikh\/\">Sharm El Sheikh<\/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=\"666966\" 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\/06\/17\/666966\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-666966\" class=\"content-area-description single-story post-666966 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\">JUNE<\/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=\"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>12-16 October (Sunday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02NagbQx5dgqu17pbmb9FVEcu5tcoZrNEazUBXhBmBDT6Q1c3Yv2QFszSBGqSsXjyvl\" style=\"\">Cairo Water Week<\/a><\/span><span style=\"font-weight:400;\">, Cairo. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">NOVEMBER<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16-19 Novem<\/span><span>be<\/span><span>r 2025: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/cairoict.com\/\" style=\"\">Cairo ICT 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;\">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 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>One-on-one with IFC Africa VP Ethiopis Tafara | Locally produced Citroen autos | EGX app incoming<\/p>\n","protected":false},"featured_media":666942,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-666941","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"4b96022f-99de-400b-be39-83dc56d2984b","teaser":"One-on-one with IFC Africa VP Ethiopis Tafara | Locally produced Citroen autos | EGX app incoming","photo_url":"https:\/\/ent.news\/2025\/4\/145.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>EGP bounces back against the greenback as panic among foreign investors subsides - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/egp-bounces-back-against-the-greenback-as-panic-among-foreign-investors-subsides\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EGP bounces back against the greenback as panic among foreign investors subsides\" \/>\n<meta property=\"og:description\" content=\"One-on-one with IFC Africa VP Ethiopis Tafara | Locally produced Citroen autos | EGX app 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