{"id":667193,"date":"2025-06-22T00:00:00","date_gmt":"2025-06-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=667193"},"modified":"2025-12-18T06:08:26","modified_gmt":"2025-12-18T06:08:26","slug":"us-strikes-on-iranian-nuclear-facilities-spark-regional-escalation-fears","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/us-strikes-on-iranian-nuclear-facilities-spark-regional-escalation-fears\/","title":{"rendered":"US strikes on Iranian nuclear facilities spark regional escalation fears"},"content":{"rendered":"<section id=\"667195\" 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=\"667195\">\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\/22\/trumps-says-three-targeted-iranian-nuclear-sites-totally-obliterated\/\">\r\n                            Trumps says three targeted Iranian nuclear sites \u201ctotally obliterated\u201d                        <\/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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style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.c2a354b8-bff0-4263-b849-248ee1842ecd.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, all.<\/strong> It doesn\u2019t look like calm is on the horizon anytime soon, as the regional war took a sharp turn overnight with Washington entering into direct confrontation with Tehran. Just hours ago, the US struck three Iranian nuclear sites. We\u2019ll all be watching closely over the coming days to see how this escalation plays out \u2014 both here at home and on the global stage.<\/p><p class=\"tag-border-left\">SETTING THE TONE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a>  <strong>\u201cThe situat<\/strong><strong>ion is under control and the budget has strong buffers<\/strong>,\u201d Finance Minister Ahmed Kouchouk told EnterpriseAM in his first public comments following the war between Iran and Israel. The government is carefully monitoring current developments and has \u201ca flexible budget and robust reserves that will be deployed with extreme precision,\u201d he added. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve faced similar challenges before with Covid-19 and Russia\u2019s invasion of Ukraine<\/strong>, and in those cases we moved quickly to secure the country\u2019s basic needs, he told us. This time round, the country has also been proactive in booking in energy imports, with the country effectively hedged against the possibility of further volatility in oil prices. We\u2019re also about to wrap up the fiscal year, having raised more than EGP 2 tn in taxes throughout the 12-month period.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Diversification will also help us manage rising interest rates on public debt<\/strong>, with sukuk, fixed- and variable-return instruments, among other debt instruments set to minimize the impact of events, Kouchouk explained.<\/p><p class=\"tag-border-left\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re <\/strong><strong>in<\/strong><strong> store for another shorter-than-usual workweek<\/strong>, with this Thursday off in observance of the Islamic New Year, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/16qAq4ksyx\/?mibextid=wwXIfr\" style=\"\" rel=\"noopener\">decision<\/a> from Prime Minister Mostafa Madbouly. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And we\u2019ve got another long weekend the week after too<\/strong>, as the twelfth anniversary of the 30 June Revolution will be commemorated a few days before on Thursday, 3 July.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s another warm \u2014 but not too warm \u2014 day in Cairo today<\/strong>, with a high of 35\u00b0C, a low of 23\u00b0C, and partly cloudy skies, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a little cooler in Alexandria<\/strong>, with a high of 31\u00b0C, a low of 21\u00b0C, and partly cloudy skies forecast for the day.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/363.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>Sahel <\/strong>\u2013 what was once Egypt's summer escape has become an economic hub, social ecosystem, and regional travel hotspot. And we\u2019re going to help you decode its rapid evolution with EnterpriseAM <strong>Destination Sahel.<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In a special four-part summer series we\u2019re taking the insights you\u2019ve come to expect of us seaside.<\/strong> Think everything from Ras El Hekma's impact and investment opportunities to exclusive interviews with key players. And it wouldn\u2019t be Sahel season without a sprinkling of what\u2019s shaking up socially.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expect us in your inbox Tuesday, 24 June. <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>See you, Sahel-side.<\/strong><\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p class=\"tag-border-left\">EGP WATCH- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGP weakened against the gr<\/strong><strong>eenback again on Thursday<\/strong>, falling around EGP 0.10-0.12 by the end of trading. The USD was sold for around EGP 50.70-50.73 and bought for EGP 50.60 at state and private banks.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ongoing uncertainty in the region is continuing to weigh on the exchange rates<\/strong>, a source in the banking sector told EnterpriseAM, noting that the Middle East is currently seeing investment outflows as investors seek more stable markets. Interbank USD transactions jumped to around USD 2.5 bn over the week \u2014 considerably higher than the weekly average of nearly USD 1 bn.<\/p><p class=\"tag-border-left\">DEBT WATCH-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Centr<\/strong><strong>al Bank of Egypt sold EGP 38.5 bn in <\/strong><strong>6- and 12-month<\/strong><strong> EGP-denominated <\/strong><strong>treasury <\/strong><strong>bills in Thursday\u2019s auction<\/strong>; the amount sold is less than half the EGP 80 bn the bank was after, according to central bank <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/auctions\/egp-t-bills\" style=\"\" rel=\"noopener\">data<\/a>. The bank sold EGP 24.0 bn worth of six-month t-bills at an average yield of 28.27%, down and EGP 14.5 bn worth of one-year bills at an average yield of 25.23%. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investors demanded yields several percentage points higher than the central bank was <\/strong><strong>willing to accept<\/strong> \u2014 they had placed bids for EGP 66.7 bn worth of six-month bills at an average yield of 29.269% and bids for EGP 62.0 bn for one-year bills at an average yield of 27.113%.<\/p><p class=\"tag-border-left\">WATCH THIS SPACE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a>  <strong>#1- T<\/strong><strong>he go<\/strong><strong>vernment is looking to lower the incoming stamp tax on EGX transactions t<\/strong><strong>o <\/strong><strong>0.1% for bo<\/strong><strong>th buyers and sellers<\/strong>, down from an initially proposed 0.125%, a senior government official told EnterpriseAM. The move to lower the proposed tax is part of broader efforts to stimulate trading and accelerate IPO activity, the official added.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next: <\/strong>The proposed legislative changes are set to be finalized in a meeting with the Financial Regulatory Authority next week, the source said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>READ MORE- <\/strong>We dive deeper into the planned stamp tax on EGX transactions in a story published last month. Check it out <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2d56ede3-9027-409e-9887-f5a7d7aa1236\/a-look-into-the-gov%25e2%2580%2599t%25e2%2580%2599s-targeted-revenues-from-the-planned-stamp-tax-on-egx-transactions\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Israel gas flows are back on \u2014 just about. <\/strong>Israel resumed gas exports on Thursday after a six-day pause, with most surplus energy heading to Jordan, while Egypt received \u201ctiny volumes,\u201d an Israeli Energy Ministry source told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/israel-restarts-limited-gas-exports-amid-ongoing-conflict-egypt-still-waiting-2025-06-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> on the day.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As of Thursday, Israel\u2019s Leviathan field remained shut<\/strong>, with the limited esports coming from its Tamar field, Bloomberg reported, citing unnamed sources.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>Egypt<\/strong><strong> will receive a fourth LNG regasification vessel in August <\/strong>\u2014 which we understand will be the vessel <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f58dafba-e852-4f3c-83a0-61ca0a5d917f\" style=\"\" rel=\"noopener\">booked from Turkish state-owned energy firm BOTAS<\/a> \u2014 to help stabilize and diversify energy supplies amid current global challenges, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0Nu9j24t8AN98EHf2bX62EGmK7ALcuDnmsF9AiaZSQvXKKrBqdT5fsMPkmkb2ey28l\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. The awaited unit will be deployed in Damietta, Oil Minister Karim Badawi said.<\/p><p class=\"tag-border-left\">DATA POINT- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt wa<\/strong><strong>s the top destination for FDI in Africa and Middle East<\/strong>, with USD 47 bn in FDI coming into the country, according to the UN\u2019s latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/1169.pdf\" style=\"\" rel=\"noopener\">World<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/1169.pdf\" style=\"\" rel=\"noopener\">Investment Report (pdf)<\/a>. The country also ranked ninth globally for inflows.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This marks a significant jump from Egypt\u2019s position in 2023<\/strong>, when it landed in the 32nd spot with USD 10 bn in FDI.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But there\u2019s little mystery as to why Egypt so quickly climbed the ranks<\/strong>, with \u201cthis exceptional growth \u2026 largely attributable to a single megaproject: the Ras El Hekma urban development,\u201d the report said.<\/p><p class=\"tag-border-left\">HAPPENING TOMORROW-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>U Consumer Finance \u2014 which owns and operates the Valu brand \u2014 will begin trading on <\/strong><strong>the EGX tomorrow<\/strong> under the ticker VALU.CA at a reference price of EGP 0.777, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/1181.pdf\" style=\"\" rel=\"noopener\">EGX b<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/1181.pdf\" style=\"\" rel=\"noopener\">ulletin (pdf)<\/a>. In its first session, the share price will be allowed to move between a floor of EGP 0.10 and a ceiling of EGP 7.40, with no temporary trading halt mechanisms in place.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** In today\u2019s issue, we\u2019ve got the first part of a one-on-one interview with Valu CEO Walid <\/strong><strong>Hassouna <\/strong>to discuss the firm\u2019s growth strategy, and what else it has in the pipeline. Check out the story in the issue below.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Finance<\/strong><strong> Minis<\/strong><strong>try is set to finalize a new package of custom facilities within the <\/strong><strong>coming weeks<\/strong>, with a separate real estate tax relief package expected in 1Q FY 2025-2026, Finance Minister Ahmed Kouchouk said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a>  <strong>US strikes on three Iranian nuclear <\/strong><strong>sites <\/strong><strong>at Fordow, Natanz, and Isfahan are dominating the headlines <\/strong><strong>across the globe this morning<\/strong>, which Trump said in a televised address had been \u201ctotally obliterated\u201d (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=C7eSJ011Muc\" style=\"\" rel=\"noopener\">watch, runtime; 4:12<\/a>). \u201cIran, the bully of the Middle East, must now make peace. If they do not, future attacks will be far greater, and a lot easier,\u201d Trump warned.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UN Secretary-General Ant\u00f3nio Guterres <\/strong><strong><a target=\"_blank\" href=\"https:\/\/x.com\/antonioguterres\/status\/1936603735330898368?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1936603735330898368%7Ctwgr%5E8ad117e120e835a594cab14e5e6ed1c6a3c18d7f%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.reuters.com%2Fworld%2Fisrael-iran-live-trump-address-nation-after-us-bombs-nuclear-sites-iran-2025-06-22%2F\" style=\"\" rel=\"noopener\">called out the action<\/a><\/strong><strong> as a \u201cdangerous escalation <\/strong><strong>in a region already on the edge<\/strong>,\u201d and further warned that without a diplomatic solution the conflict could further spiral out of control. Criticism also came from within the ranks of the Republican Party, with a select few, including Kentucky Representative Thomas Massie, who criticized the strike without congressional approval as <a target=\"_blank\" href=\"https:\/\/x.com\/RepThomasMassie\/status\/1936574721312923803?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1936574721312923803%7Ctwgr%5E8ad117e120e835a594cab14e5e6ed1c6a3c18d7f%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.reuters.com%2Fworld%2Fisrael-iran-live-trump-address-nation-after-us-bombs-nuclear-sites-iran-2025-06-22%2F\" style=\"\" rel=\"noopener\">unconstitutional<\/a>. (<a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2025\/06\/21\/israel-iran-live-updates-us-trump\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/iran-israel-launch-new-attacks-after-tehran-rules-out-nuclear-talks-2025-06-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-iran-war-nuclear-talks-geneva-news-06-21-2025-a7b0cdaba28b5817467ccf712d214579\" style=\"\" rel=\"noopener\">Associated Press<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/72d898ac-c18b-4884-ab94-0c21742d18e3\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/live-blog\/2025-06-22\/middle-east-latest?srnd=phx-politics\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Columbia University graduate and pro-Palestine activist Mahmoud Khalil has been <\/strong><strong>released on bail <\/strong>after a federal judge called his three-month detention in the immigration facility unconstitutional. Khalil, who has become a symbol of Trump\u2019s crackdown on both foreign residents and those who have voiced pro-Palestinian support, was reunited with his son and wife and vowed to carry on advocating for Palestinian rights. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/mahmoud-khalil-vows-resume-pro-palestinian-activism-after-release-us-jail-2025-06-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/06\/21\/nyregion\/mahmoud-khalil-return-to-new-york.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-20\/ex-columbia-student-khalil-freed-from-ice-custody-lawyers-say?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/us-news\/2025\/jun\/21\/mahmoud-khalil-released-family\" style=\"\" rel=\"noopener\">Guardian<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- While over in the business news, Trump is once again flirting with the possibility<\/strong><strong> of firing US Federal Reserve chair Jerome Powell, <\/strong>saying in a post on <a target=\"_blank\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/114717929371967424\" style=\"\" rel=\"noopener\">Truth Social<\/a> that, \u201cMaybe, just maybe, I'll have to change my mind about firing him?\u201d The comment is the latest in a string of criticisms Trump directed towards Powell, attacking him for not lowering interest rates, which were kept steady for a fourth meeting last week. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/trump-says-he-may-have-change-his-mind-about-firing-fed-chair-powell-2025-06-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"667197 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=\"667197\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/22\/667197\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-667197\" class=\"content-area-description single-story post-667197 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>\n<div class=\"grouped-tags\">\n<p><span>Whether you&rsquo;re diving into turquoise waters, catching golden hour from your terrace, or just letting time drift by &mdash; 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=\"667198\" 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=\"667198\">\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\">Coffee With<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/22\/valu-ceo-walid-hassouna-on-how-the-fintech-became-a-household-name-and-whats-still-to-come\/\">\r\n                            Valu CEO Walid Hassouna on how the fintech became a household name \u2014 and what\u2019s still to come                        <\/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\/22\/valu-ceo-walid-hassouna-on-how-the-fintech-became-a-household-name-and-whats-still-to-come\/\" 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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Hassouna headed the NBFI at the time, and his message to the board of EFG Holding was that it was time to grow, and more importantly, that it would be the most inexpensive time to grow.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>In a way, 2023 and 2024 were great for Valu despite interest rate hikes and inflation.<\/strong> Not because of the interest rate hikes, but because people were thinking, \u201cshould I buy now or should I buy later?\u201d \u2014 and everyone decided to buy now because there was the risk of scarcity of products, and there was the risk of massive price increases. And those who bought things in 2023 and 2024 didn\u2019t regret it. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And 2025 has been a pretty eventful year for the fintech player, which is 24 hours away <\/strong><strong>from making its <\/strong><strong>trading debut on the EGX. <\/strong>The fintech player currently has around 800k active customers, who are concluding 16k transactions a day \u2014 double the amount of transactions it was seeing in 1Q 2024. It closed 1Q 2025 with a 25% market share of Egypt\u2019s consumer finance market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM sat down with Hassouna to learn more about the listing, the firm\u2019s growth <\/strong><strong>strategy, and what else it has in the pipeline for a two-part interview.<\/strong> Edited excerpts from our conversation, below:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM: What was your vision when you founded Valu in 2017?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Walid Hassouna: We built Valu on two pillars <\/strong>\u2014 the first was to reduce friction and make it easier for many more people to access credit. And for that to happen, we needed to be able to do it with less documentation and faster processing. We don't guarantee our clients will get the loan, but we guarantee they\u2019ll get an answer in five to ten minutes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: That was new at the time. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WH: It was disruptive to the extent that some financial institutions, some banks, were <\/strong><strong>very much against us. <\/strong>They were concerned about the change we were bringing to the market. We were lucky enough that we had the support of the Central Bank of Egypt and the Financial Regulatory Authority, which allowed us to go ahead with our plans.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: You said there were two pillars. If speed was the first, what was the second?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WH: We wanted to transform into a payment method. That\u2019s why we always try to avoid <\/strong><strong>the word \u201cinstallment.\u201d We use the word \u201cpay\u201d<\/strong> \u2014 \u201cPay with Valu\u201d \u2014 not \u201cinstallment.\u201d True, you can pay us in as few as one month or as many as 60, but at the time the purchase is made? That\u2019s the key: \u201cPay with Valu.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Why is that distinction so important?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WH: Paying is different. <\/strong>Whether in the Arab world, in the West, or even in the US, you take a loan maybe once a year? We want our customers to use us to pay every single day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And it\u2019s working.<\/strong> As we speak today, we are running 11 transactions per minute, or 16k transactions per day \u2014 this time last year, the comparable figure was 7k transactions per day, so we\u2019re growing at about a 100% clip in terms of the number of transactions per day. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our prepaid card processes 4-5k transactions daily<\/strong>, making it the fastest-growing prepaid card in Egypt, despite being available only to approved customers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That was the plan <\/strong>\u2014 offer finance with less friction, less documentation, a fast turnaround, and then change it into a payment method. Today, we\u2019re the fourth-largest payment scheme in the country, behind Mastercard, Visa, and Meeza.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What\u2019s profitability like on a standalone basis? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WH: We\u2019re growing all of our KPIs 100% year-on-year <\/strong>\u2014 we managed to do this and remain profitable. We've been profitable since 2020, when we had EGP 8 mn on the bottom line. We were in the EGP 20 mn range in 2022, we hit EGP 230 mn in 2023, and we turned in a net income of EGP 420 mn last year. We wanted to grow, but it wasn\u2019t VC-backed \u201cgrowth at any cost.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: How do you keep your competitive metabolism high in this market?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WH: A major differentiator between us and our competition is that we have a very young, <\/strong><strong>bold, and innovative team.<\/strong> They\u2019re not afraid to bring big ideas to the table and figure out how to make them work. Whatever works, we roll it out. Whatever doesn't work, we roll it back. Additionally, we\u2019re well-backed by EFG Holding and have a nice corporate parent.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We created what is effectively the first <\/strong><strong>cash<\/strong><strong> loan product in Egypt offered by a consumer <\/strong><strong>finance company<\/strong>, aligning with regulatory guidelines while meeting market needs. While consumer finance regulations traditionally focus on product and service financing, we innovated within this framework by introducing a unique approach \u2014 reverse consumer finance. Customers can now purchase items, upload their receipts via our app, and receive funds directly into their accounts. This innovative model has since inspired similar offerings in the market, demonstrating its value and effectiveness.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another innovation is our consumer-to-consumer car finance product. <\/strong>I can sell you my car, and Valu comes in the middle to finance the transaction without the dealership in the middle. It\u2019s a six-month-old product and represents 50% of our car sales. We\u2019re doing more than EGP 350 mn in auto loans monthly, half of which is consumer-to-consumer through our Shift program. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What\u2019s the growth strategy going forward?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WH: If growth, profitability, and innovation are the first half of our story, the second half is <\/strong><strong>breadth. <\/strong>We want to do everything from the USD 1 transaction to the USD 1 mn transaction. We want people to use their Valu card to top up their mobile phone credit, and we\u2019re also seeing them use our app to buy yachts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Think of it in the same terms that Uber does.<\/strong> Everyone has the same Uber app, but you can decide if you want an Uber Bus, an Uber Pool, UberX, or Uber Black. It\u2019s the same thing with Valu \u2014 everyone has the same app, and you decide what you want to do with it. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: I think the conventional wisdom in the industry was to have a sector-specific focus?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WH: We received a lot of criticism of our strategy from people who said we must focus on <\/strong><strong>specific segments.<\/strong> By going broader, we effectively hedge our risk. In 2023-2024, if we had not had very big tickets with very affluent clients, we would have faced many issues because everyone was struggling at the bottom of the pyramid.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: If you're looking for USD 1 to USD 1 mn? Who is your center of gravity?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WH: Our center of gravity is always people between the ages of 25 and 35.<\/strong> Those are our bread and butter. We have a program that starts financing people at the age of 16 \u2014 the only program in Egypt that finances people who are not graduates yet. The reason we want those people to be part of our portfolio is that it's very inexpensive to bring those guys on board and you build a lifelong relationship with them.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Young people really want to be part of the financial ecosystem.<\/strong> They want to build their credit score \u2014 Gen Z and Gen Alpha really care about that. And we have a mission to underwrite the unbanked. What truly sets us apart is that 40% of our customer portfolio had never borrowed a penny before partnering with us. This highlights our genuine commitment to expanding financial inclusion and reaching those who have historically been underserved.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: How has that impacted your non-performing loans? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WH: We take pride in our robust underwriting practices<\/strong>, which have consistently delivered exceptional results. With non-performing loans at just 0.7% and a cost of risk at 0.9%, our performance speaks for itself. When we hear unfounded rumors, like claims of having a 20% default rate, it\u2019s hard not to laugh.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our figures are out there. Our segment reporting with EFG Holding is there.<\/strong> We have been applying IFRS 9 and a credit-loss model since 2020. And we\u2019re tightly regulated by the FRA \u2014 do you think they would tolerate a 20% default rate, let alone me saying we have a 0.7% default rate if that wasn\u2019t the case? <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That's why we currently use our platform to offer underwriting as a service. <\/strong>We underwrite the co-branded card with Bank Next, which is also part of EFG Holding Group. And we have two other banks in the pipeline that want us to work for them, underwriting a service. So, this is going to be totally off our balance sheet. I can\u2019t say right now which banks these are, but this segment is very important to our margins \u2014 it\u2019s a high-margin segment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Part II of our conversation with Walid Hassouna will be out in tomorrow\u2019s issue to<\/strong><strong> coincide with Valu beginning trading on the EGX. <\/strong>Watch this space. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/coffee-with\/\">Coffee With<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/valu\/\">ValU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                  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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"667201\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/22\/qatar-mulls-usd-3-5-bn-north-coast-tourism-project\/\">\r\n                            Qatar mulls USD 3.5 bn tourism project on Egypt\u2019s North Coast                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" 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   \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/22\/qatar-mulls-usd-3-5-bn-north-coast-tourism-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1183.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"667202\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/22\/qatar-mulls-usd-3-5-bn-north-coast-tourism-project\/1183-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1183.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1183.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1183.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1183.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-667201\" class=\"content-area-description single-story post-667201 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam tag-investment-watch tag-qatar wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.887582fa-846b-4d16-81f0-af0cbaad2185.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Qatar is in advanc<\/strong><strong>ed discussions to develop a USD 3.5 bn tourism proj<\/strong><strong>ect <\/strong><strong>on the <\/strong><strong>North Coast<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-19\/qatar-weighs-3-5-billion-tourism-deal-on-egypt-s-north-coast\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported on Thursday, citing sources it says are familiar with the matter. The Qatari side could ink the project\u2019s agreement by the end of 2025, the sources said without disclosing the breakdown and exact location of the project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>If the agreement goes through, Qatar would make a USD 1 bn payment to Egypt upon <\/strong><strong>signing the agreement<\/strong>, with the remaining amount to be delivered over the following year<strong>.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But this isn\u2019t a complete sur<\/strong><strong>prise<\/strong>, with Prime Minister Moustafa Madbouly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/368aaf15-668d-4ff1-9346-118e4cc83d00\/qatari-delegation-teases-north-coast-development,-logistics-zones,-data-center-investments,-tourism-investments\" style=\"\" rel=\"noopener\">saying late last<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/368aaf15-668d-4ff1-9346-118e4cc83d00\/qatari-delegation-teases-north-coast-development,-logistics-zones,-data-center-investments,-tourism-investments\" style=\"\" rel=\"noopener\">year<\/a> that Qatar is working on a \u201cvery important\u201d real estate project on the North Coast.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Qatar also previously agreed to work toward a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/71a18642-bf84-4b50-bc8e-ece4d823f652\/%253cmark%253eqatar%253c%2Fmark%253e-to-work-on-usd-7.5-bn-in-new-investments-to-egypt\" style=\"\" rel=\"noopener\">USD 7.5 bn<\/a><\/strong><strong> package of direct <\/strong><strong>investments <\/strong>in Egypt in the near future, without providing details of the investment plan. The GCC country\u2019s investors are also reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59571de1-31ef-4c8e-be0c-ae93f00c1924\/damietta-container-and-cargo-handling-files-for-a-capital-hike-ahead-of-a-rumored-public-offering\" style=\"\" rel=\"noopener\">eyeing majority stakes<\/a> in terminal operators.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investments from the GCC are expected to have a greater footprint in the coming years.<\/strong> Kuwait was previously reported to be in discussions to turn the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/efd27807-67fa-47bc-a89a-3102c9da418f\/kuwait-mulls-turning-usd%253cmark%253e-4-bn%253c%2Fmark%253e-of-deposits-into-direct-investments\" style=\"\" rel=\"noopener\">USD 4 bn<\/a> of deposits it holds in Egypt\u2019s central bank into direct investments across several sectors. Meanwhile, Saudi Arabia plans to convert some of its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/01ae0960-a89d-4d66-abcb-50b6e05796af\/saudi-deposits-could-be-converted-into-new%253cmark%253e-investments%253c%2Fmark%253e-in-real-estate-among-other-sectors\" style=\"\" rel=\"noopener\">USD 10.3 bn<\/a> deposits in the central bank into investments. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Egypt aims to attract <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/067ba81c-e766-415f-b4fd-411d7fd49186\/a-look-into-the-government%25e2%2580%2599s-economic-targets-for-the-next-four-fiscal-years\" style=\"\" rel=\"noopener\">USD 42 bn<\/a> in net FDI during the next fiscal year, with plans to boost that figure to USD 55 bn in FY 2028-2029. The FDI growth is expected to be fueled by interest from foreign investors, particularly from Gulf countries such as the UAE, Saudi Arabia, and Qatar.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"667203\" 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=\"667203\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/22\/beltone-leasing-and-factoring-secures-usd-20-mn-from-finance-in-motion-backed-funds-sanad-and-green-for-growth\/\">\r\n                            Beltone Leasing and Factoring secures USD 20 mn from Finance in Motion-backed funds SANAD and Green for Growth                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img 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href=\"https:\/\/api.whatsapp.com\/send?text=Beltone+Leasing+and+Factoring+secures+USD+20+mn+from+Finance+in+Motion-backed+funds+SANAD+and+Green+for+Growth+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F06%2F22%2Fbeltone-leasing-and-factoring-secures-usd-20-mn-from-finance-in-motion-backed-funds-sanad-and-green-for-growth%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\/22\/beltone-leasing-and-factoring-secures-usd-20-mn-from-finance-in-motion-backed-funds-sanad-and-green-for-growth\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/756.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"667204\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/22\/beltone-leasing-and-factoring-secures-usd-20-mn-from-finance-in-motion-backed-funds-sanad-and-green-for-growth\/756-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/756.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"756.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/756.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/756.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-667203\" class=\"content-area-description single-story post-667203 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-enterpriseam tag-finance-in-motion tag-green-for-growth-fund tag-sanad 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\/.7bb2ff5e-fb8e-4024-922c-169857056509.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>SANAD, GGF back Beltone Leasing and Factoring with USD 20 mn: <\/strong>Beltone Leasing and Factoring secured USD 20 mn in funding from impact investment funds SANAD Fund for MSME and the Green for Growth Fund (GGF) \u2014 both managed by Germany-based impact asset manager Finance in Motion, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/1177.pdf\" style=\"\" rel=\"noopener\">statement<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/1177.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a> from parent company Beltone Holding. Each fund provided a USD 10 mn package, with a repayment tenor of five years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where will the money go? <\/strong>The financing from SANAD \u2014 established by Germany\u2019s KfW Development Bank \u2014 will go towards supporting \u201cthe financial inclusion for micro, small, and medium enterprises and low-income households across the Middle East and North Africa\u201d, the release said. Meanwhile, the funding from GGF \u2014 a PPP between the European Investment Bank and KfW \u2014 will be earmarked for projects focused on renewable energy, energy efficiency, and sustainable resource management across MENA and nearby regions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cSecuring foreign currency funding from institutions like SANAD and GGF enhances our ability to diversify our capital base and offer more competitive financing solutions. This funding will enable us to strengthen our support for MSMEs while accelerating green projects that contribute to a more sustainable and resilient future,\u201d Deputy Head of NBFIs for Leasing, Factoring, and Consumer Finance Amir Ghannam said. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-in-motion\/\">Finance in Motion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-for-growth-fund\/\">green for growth fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sanad\/\">Sanad<\/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=\"667205\" 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=\"667205\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/22\/contact-financials-net-income-more-than-doubles-in-1q-2025\/\">\r\n                            Contact Financial\u2019s net income more than doubles in 1Q 2025                        <\/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\/22\/contact-financials-net-income-more-than-doubles-in-1q-2025\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2025\/06\/22\/contact-financials-net-income-more-than-doubles-in-1q-2025\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2025\/06\/22\/contact-financials-net-income-more-than-doubles-in-1q-2025\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Contact Financial\u2019s net income more than doubles in 1Q 2025&url=https:\/\/enterpriseam.com\/egypt\/2025\/06\/22\/contact-financials-net-income-more-than-doubles-in-1q-2025\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2025\/06\/22\/contact-financials-net-income-more-than-doubles-in-1q-2025\/&title=Contact Financial\u2019s net income more than doubles in 1Q 2025\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Contact+Financial%E2%80%99s+net+income+more+than+doubles+in+1Q+2025+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F06%2F22%2Fcontact-financials-net-income-more-than-doubles-in-1q-2025%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\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\/22\/contact-financials-net-income-more-than-doubles-in-1q-2025\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/4.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"667206\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/22\/contact-financials-net-income-more-than-doubles-in-1q-2025\/4-jpg-50\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/4.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"4.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/4.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/4.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-667205\" class=\"content-area-description single-story post-667205 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-contact-financial tag-earnings tag-earnings-watch tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.b06f8b99-9099-45f2-a36a-159ff10a4877.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Non-banking financial services firm Contact Financial Holding saw its normalized net <\/strong><strong>income rise <\/strong><strong>143%<\/strong><strong> y-o-y in 1Q 2025<\/strong>, increasing to EGP 66.2 mn, according to the company\u2019s latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/1164.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The strong performance was underpinned by a standout quarter for the group\u2019s ins. arm, with additional support from a shift toward higher-margin products at its financing division.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong> The group\u2019s ins. division saw its net income jump 767% y-o-y during the quarter to EGP 43 mn, as the division \u201ccontinued to benefit from the success of our strategic investments, achieving strong growth through an expanded market presence, enhanced cross-selling capabilities, and a diversified product offering.\u201d Meanwhile, the financing segment saw its net income grow 33% y-o-y in 1Q 2025 to EGP 27 mn. New financing at the auto, trucks, mortgage, and working capital segments saw declines, though medical lending increased 181% y-o-y due to \u201can increase in medical businesses from factoring,\u201d the company said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cWhile overall volumes were moderated by our deliberate shift in focus towards higher-margin products, we successfully maintained our momentum, supported by gradually improving market conditions and a more stable macroeconomic environment,\u201d the company\u2019s management said. \u201cAs we head further into 2025, we are optimistic that the positive momentum will continue, and we remain confident in our ability to deliver on the group\u2019s short and long-term targets.\u201d<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/contact-financial\/\">Contact Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"667207\" 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=\"667207\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/22\/visa-taps-tareq-muhmood-as-regional-president-for-cemea\/\">\r\n                            Visa taps Tareq Muhmood as regional president for CEMEA                        <\/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\/22\/visa-taps-tareq-muhmood-as-regional-president-for-cemea\/\" 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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Muhmood brings over 30 years of experience in banking and payments to the role, having most recently served as head of value-added services for Visa Europe. He takes over from Andrew Torre, who was tapped as president of Visa\u2019s value-added services business. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cWe are delighted to appoint a leader with Tareq\u2019s deep experience at the intersection of financial services, technology and high growth markets to lead Visa\u2019s fastest growing region and continue our journey to advance the future of digital payments across CEMEA,\u201d Visa's Group President of Global Markets Oliver Jenkyn said. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/22\/abou-ghaly-motors-to-locally-assemble-the-uaes-sandstorm-autos\/\">\r\n                            Abou Ghaly Motors to locally assemble the UAE\u2019s Sandstorm autos                        <\/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\/22\/abou-ghaly-motors-to-locally-assemble-the-uaes-sandstorm-autos\/\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1193.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"667211\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/22\/abou-ghaly-motors-to-locally-assemble-the-uaes-sandstorm-autos\/1193-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1193.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1193.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1193.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1193.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-667210\" class=\"content-area-description single-story post-667210 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-abou-ghaly-motors tag-also-on-our-radar tag-automotive tag-enterpriseam tag-oil-and-gas wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.5a374808-c10b-4d14-ac69-38b575d3d28b.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">AUTOMOTIVE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Locally<\/strong><strong>-assembled Sandstorm-branded vehicles?<\/strong> Local automotive player Abou Ghaly Motors plans to invest USD 26 mn to set up a factory in the north of the Gulf of Suez to assemble models from the UAE\u2019s Sandstorm Motor Vehicles Manufacturing, a company official told <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/AsharqbEGY\/posts\/pfbid0UVWFwzSmRCiCNp6yaA3T4ntpxpaGiiG5jbtvKa1mhpVyM5wQ6VHg5tuUft7fgci7l\" style=\"\" rel=\"noopener\">Asharq Business<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company has already invested 40% of the total amount since the beginning of the <\/strong><strong>year <\/strong>and plans to complete the remaining investment by year-end. Production is scheduled to begin in 1Q 2026, and the company plans to dedicate the factory\u2019s entire production capacity to exports, with a focus on African markets.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sandstorm made it<\/strong><strong>s manufacturing debut with the UAE\u2019s first ever locally made SUV <\/strong>\u2014 the Sandstorm Alreem, which was designed with the country\u2019s hot and desert climate in mind. We\u2019re yet to find out what models Sandstorm is planning to roll out from Egyptian assembly lines, but it could also include its planned pickup truck in the works: the Sandstorm S24.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><b>** It has been brought to our attention that the news published by Asharq Business is inaccurate.\u00a0<\/b><\/p><p class=\"tag-border-left\">ENERGY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New awards <\/strong><strong>to drill at least 1<\/strong><strong>7 e<\/strong><strong>xploration wells:<\/strong> The Oil Ministry has awarded seven new exploration and production blocks affiliated with the Egyptian General Petroleum Corporation, according to a ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid02Fz2B5DCezJvVe4wmCPSyNJL7LtZ6mp8iFp9BHADxVoCgoqrqzWBgTb7iEoY5SWegl\" style=\"\" rel=\"noopener\">statement<\/a>. The new awards will see firms funnel fresh investments into the blocks and bring at least 17 new wells online. Cheiron, Apache, Pharos Energy, IPR Energy, and a consortium of Egypt\u2019s NPC Energy and UK-based GHP all secured blocks.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More up for grabs: <\/strong>Other explorations \u2014 including undeveloped Mediterranean fields and new blocks in the Gulf of Suez and Western Desert \u2014 remain open, with bids due by 2 July. The ministry is expected to announce four additional Mediterranean block awards soon under the Egyptian Natural Gas Holding Company\u2019s latest bid round.<\/p><p class=\"tag-border-left\">TRANSPORT- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new digital p<\/strong><strong>arking management system in Cairo is here: <\/strong>Cairo Governorate launched a new digitized system to regulate informal parking attendants, requiring them to be registered with companies contracted with the governorate to manage parking spaces, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/1BuXHbLQGS\/\" style=\"\" rel=\"noopener\">statement<\/a> from the governorate. All parking areas are getting integrated into an official framework, preventing unauthorized fees and providing clear pricing \u2014 capped at EGP 10 for the first hour, with lower rates for the second hour. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abou-ghaly-motors\/\">Abou Ghaly Motors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"667212\" 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=\"667212\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/22\/el-sisi-calls-for-diplomatic-solutions-in-call-with-iranian-president\/\">\r\n                            El Sisi calls for diplomatic solutions in call with Iranian president                        <\/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\/22\/el-sisi-calls-for-diplomatic-solutions-in-call-with-iranian-president\/\" 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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El Sisi called for an immediate ceasefire and de-escalation of the conflict to resume negotiations \u2014 stressing \u201cthat military solutions are not viable.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign <\/strong><strong>Minister Badr <\/strong><strong>Abdelatty<\/strong><strong> was also on a diplomatic offensive over the weekend<\/strong>, holding separate calls with US Special Envoy to the Middle East Steve Witkoff and Iranian Foreign Minister Abbas Araghchi to push for de-escalation amid rising Israel-Iran tensions, according to a Foreign Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0KSCoDvXi88MarmDq54muuojHzzoQB6BCquNk3rPxweLd3F2pQSCN7CYMi4EVLn3vl\" style=\"\" rel=\"noopener\">statement<\/a>. Abdelatty stressed the importance of utilizing all diplomatic means to prevent wider regional conflict.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-iran-relations\/\">Egypt-Iran relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"667214\" 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=\"667214\">\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\/22\/not-exactly-selling-america\/\">\r\n                            Foreign demand for US Treasuries held firm in April despite tariff turmoil                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta 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           <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1679.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"667215\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/22\/not-exactly-selling-america\/1679-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1679.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1679.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1679.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1679.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-667214\" class=\"content-area-description single-story post-667214 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-debt tag-enterpriseam tag-fertiglobe tag-financial-markets tag-investment-watch tag-planet-finance tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.51a74b5b-b987-4911-b84c-04c2ff4ebc83.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The number of US Treasuries held by foreign investors was near record <\/strong><strong>highs in <\/strong><strong>April<\/strong>, even as US President Donald Trump\u2019s Liberation Day tariffs triggered one of the steepest sell-offs in the asset class in over two decades, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-18\/foreign-treasuries-holdings-held-near-a-record-in-april-turmoil?embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. Foreign holdings came in at USD 9.0 tn \u2014 just shy of March\u2019s all-time high following sales of US bonds and notes, according to US Treasury data. This came despite concerns over a wave of outflows from American debt and equity markets following the tariff announcements.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>Trump\u2019s tariff announcement in early April triggered a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4286fb1e-3ad2-468b-ba40-a93ef20c2c29\/%253cmark%253eus%253c%2Fmark%253e-stocks-extend-rally-on-softer-inflation-data\" style=\"\" rel=\"noopener\">historic sell-off<\/a>, with Treasuries posting their worst weekly performance in over 20 years. A weak 20-year bond auction in May added to the sell-off, though 30-year and 20-year offerings later saw better take-up.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But no mass exit: <\/strong>Despite this, official institutions were net buyers of long-term Treasuries. Foreign investors were net sellers of US agency bonds and equities, but increased their exposure to long-term corporate debt, suggesting selective rebalancing rather than a broad retreat. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big buyers didn\u2019t blink: <\/strong>Japan, still the top holder, increased its holdings by USD 3.7 bn to USD 1.1 tn. The UK added USD 28.4 bn, overtaking China for the number-two spot with USD 807.7 bn. Belgium \u2014 often seen as a proxy for Chinese custodial accounts \u2014 rose USD 8.9 bn to USD 411.0 bn.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>China pulled back, Canada dumped: <\/strong>China\u2019s holdings dropped by USD 8.2 bn to USD 757.2 bn, continuing a multi-year retreat. Canada posted the largest decline, offloading nearly USD 57.8 bn to bring its total to USD 368.4 bn. The Cayman Islands \u2014 a hub for hedge funds \u2014 also reduced holdings by USD 7.0 bn.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe \u2018Sell America\u2019 narrative is an over-exaggeration,\u201d <\/strong>Morgan Stanley\u2019s Vishal Khanduja told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2025-06-18\/fed-stays-the-course-as-divisions-creep-in-evening-briefing-americas\" style=\"\" rel=\"noopener\">Bloomberg<\/a> elsewhere, though warning of \u201cslow and bumpy [USD] depreciation\u201d ahead. Jamie Patton of TCW Group also pushed back on talk of capital flight, saying there\u2019s a \u201cbig difference between valuation and the reserve status of the USD or Treasuries as a de facto safe asset.\u201d<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Concerns that US Treasuries\u2019 \u201csafe haven status\u201d is in jeopardy still abound<\/strong>, with the latest red flag being the lack of a rally during the Israel-Iran flare-up \u2014 which would typically be a haven bid moment. <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,248<\/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\">-1.9% (YTD: +1.7%)<\/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>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 50.60<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 50.73<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB<\/strong><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 50.60<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 50.70<\/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\">10,611<\/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: -11.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9513<\/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\">+1.0% (YTD: +1.0%)<\/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\">5352<\/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\">+1.6% (YTD: +3.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5968<\/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: +1.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8775<\/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: +7.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5234<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +6.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 77.01<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.3%<\/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>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 3.85<\/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%<\/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 3385.70<\/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\">-0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 102,858.30<\/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: +9.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 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\">878.77<\/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: +13.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">144.12<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +3.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">20.62<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-7.0% (YTD: +18.9%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 1.9% at Thursday\u2019s close<\/strong> on turnover of EGP 4.5 bn (5.8% below the 90-day average). Foreign investors were the sole net sellers. The index is up 1.7% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Edita (+1.6%), Mopco (+0.4%), and Credit Agricole (+0.1%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>TMG Holding (-5.8%), Oriental Weavers (-4.6%), and Eastern Company (-4.0%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fertiglobe\/\">Fertiglobe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"667216\" 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\/22\/667216\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-667216\" class=\"content-area-description single-story post-667216 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>19-22 October (<\/span><span style=\"font-weight:400;\">Sunday-Wednesday): Arab African Investment and International Cooperation Summit.<\/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 November 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\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>Coffee with Walid Hassouna | Qatari mega investment in Sahel? | Kouchouk reassures on budget<\/p>\n","protected":false},"featured_media":667194,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-667193","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"e48ae600-8f53-4f39-9074-30523f89d654","teaser":"Coffee with Walid Hassouna | Qatari mega investment in Sahel? | Kouchouk reassures on budget","photo_url":"https:\/\/ent.news\/2025\/5\/2496.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\/ 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