{"id":667999,"date":"2025-07-08T00:00:00","date_gmt":"2025-07-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=667999"},"modified":"2025-12-18T06:27:07","modified_gmt":"2025-12-18T06:27:07","slug":"ramses-central-building-fire-causes-partial-telecom-outage","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/ramses-central-building-fire-causes-partial-telecom-outage\/","title":{"rendered":"Ramses Central building fire causes partial telecom outage"},"content":{"rendered":"<section id=\"668001\" 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=\"668001\">\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\/07\/08\/govt-is-looking-to-increase-its-imports-of-israeli-gas\/\">\r\n                            Egypt is looking to increase its imports of Israeli gas                        <\/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\/07\/08\/govt-is-looking-to-increase-its-imports-of-israeli-gas\/\" target=\"_blank\">\n                    Open in new tab                    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data-attachment-id=\"668002\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/govt-is-looking-to-increase-its-imports-of-israeli-gas\/1753-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1753.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1753.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1753.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1753.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-668001\" class=\"content-area-description single-story post-668001 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-oil-and-gas tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/7\/.fd94fece-8e8d-4660-9d8b-2df68ff6089f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>Brace yourselves for a difficult day of doing business in Omm El Donia, wonderful <\/strong><strong>people: Internet access is still severely curtailed across the country <\/strong>in the wake of a fire at Telecom Egypt\u2019s Ramses central communications hub yesterday. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The outage has impacted everything from mobile internet to voice connectivity and <\/strong><strong>banking services <\/strong>since late afternoon yesterday. TE staff and government officials worked overnight to re-route traffic to other hubs, but we still have less than half Egypt\u2019s usual \u201callocation\u201d of bandwidth left to serve every business and individual consumer nationwide. Fixed-line and mobile broadband, data service on handsets, voice calls \u2014 it\u2019s all being impacted. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When will it end? <\/strong>Officials have been saying (for hours) that we\u2019ll be back online \u201cin hours.\u201d An outage of this type is highly unusual and a difficult technical problem to solve, so we think you\u2019d best brace yourselves for a challenging day to come. One TE engineer we spoke with suggested it could still be \u201cdays\u201d before connectivity returns to normal even with all of the state-owned telecoms giant\u2019s top resources being thrown at the problem. Have a good thought for the TE and MCIT teams trying to get us all back online, folks.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Do you have connectivity right now? <\/strong>Have an important meeting coming up later today with someone outside the country? You might want to think about dropping them a note letting them know what\u2019s up \u2014 and be prepared to reschedule to tomorrow. <strong>This is why our lawyers force us all to put force majeure clauses in our contracts.<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Frustrating? Sure. <\/strong>Or maybe all of you kids out there pining for a magical, pre-interwebs \u201c1980s summer\u201d can just sit back and think that you\u2019re in your personal Hot Tub Time Machine and enjoy the ride? <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have a rundown of all the details as of 5:55am in this morning\u2019s news well, below. <\/p><p class=\"tag-border-left\">WATCH THIS SPACE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>We\u2019re <\/strong><strong>looki<\/strong><strong>ng to increase our imports of Israeli gas by 200 mcf\/d to meet rising summer <\/strong><strong>demand<\/strong>, a government source told EnterpriseAM. Though an agreement is in place to boost supplies to both Egypt and Jordan, flows remain at their usual seasonal level of 800-850 mcf\/d due to high domestic consumption in Israel. Talks are expected to resume soon to activate the agreed increase, especially as Egypt works to strengthen its regasification infrastructure. There is also a possibility of bringing in a fifth floating regasification unit to support industrial and power sector needs, a separate source told us.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Egypt has secured gas supplies to all sectors through four floating storage and regasification units this summer, with a combined capacity of 2.7 bcf\/d, the Oil Ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/718cafd4-7694-46fd-b30a-14c3bbb7218a\/oil-ministry-confirms:-gas-supplies-secured\" style=\"\" rel=\"noopener\">confirmed<\/a> earlier this week. <\/p><p class=\"tag-border-left\">INFLATION WATCH-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>Inflation seen easing slightly in June:<\/strong> Annual headline inflation is forecasted to have dipped 0.6 percentage points in June to 16.2%, down from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/60a7ec8a-ee91-4218-87ea-b61ce895af10\/%253cmark%253einflation%253c%2Fmark%253e-rises-once-again-in-may-to-reach-16.8%2525\" style=\"\" rel=\"noopener\">16.8% in May<\/a>, according to a median forecast of 15 analysts polled by <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egypt-inflation-seen-having-eased-162-june-2025-07-07\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale: <\/strong>\u201cIt's mainly driven by fluctuating food and beverages prices which overall contribute the most to the change in the CPI index reading,\u201d Thndr Securities Brokerage\u2019s Chief Equity Strategist Amr El Alfy told the newswire.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But brace for a pickup in July: <\/strong>\u201cWe expect some inflationary pressures in July as the Egyptian Parliament approved some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8f42067c-d0e3-4c25-8ec8-cd5cd9e0f444\/house-approves-amendments-to-vat-law-on-select-items\" style=\"\" rel=\"noopener\">amendments to the VAT Law<\/a> for some businesses, including cigarettes and tobacco,\u201d said HC Securities\u2019 Heba Monir. \u201cCigarette prices are expected to increase by c.16% within days besides a potential increase in electricity prices due to higher natural gas prices.\u201d<\/p><p class=\"tag-border-left\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>It\u2019s another hot day in Cairo, with a high of 37\u00b0C and a low of 24\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a little cooler in Alexandria<\/strong>, with a high of 31\u00b0C and a low of 22\u00b0C.<\/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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Most of the attention has returned to the revival of US President Donald Trump\u2019s tra<\/strong><strong>de war<\/strong>, as the US began sending countries letters, including Japan and South Korea \u2014 two of the US\u2019 biggest trade partners \u2014 with their reciprocal tariffs, with the two Asian countries getting hit with a 25% tariff as of 1 August. Others like Kazakhstan, Myanmar, and Laos were slapped with a 40% tariff. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The letters reportedly hinted at the potential for trade talks to resume<\/strong>, possibly even beyond the 1 August deadline, but also threatened a tariff hike in case tariffs are raised on US exports. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/eus-von-der-leyen-had-good-exchange-with-trump-over-phone-commission-says-2025-07-07\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/eus-von-der-leyen-had-good-exchange-with-trump-over-phone-commission-says-2025-07-07\/\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/613678ac-2e61-436b-9d0f-2a8f85a20dee\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnn.com\/2025\/07\/07\/economy\/trump-letters-tariffs\" style=\"\" rel=\"noopener\">CNN<\/a>) <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>ALSO- Trump threatens 10% tariff on Brics-aligned nations: <\/strong>Trump said that countries aligned with the \u201canti-American policies of Brics\u201d will face an extra 10% in tariffs with \u201cno exceptions\u201d in a <a target=\"_blank\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/114809574296066307\" style=\"\" rel=\"noopener\">post on Truth Social<\/a>. The warning followed a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/401.pdf\" style=\"\" rel=\"noopener\">joint statement (pdf)<\/a> by Brics leaders criticizing tariff hikes, deeming them a threat to global trade and inconsistent with World Trade Organization regulations. A source familiar with the matter later downplayed the threat, saying it\u2019s not a blanket threat against Brics nations, but on any of the countries agreeing policies deemed \u201canti-American.\u201d (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/leaders-growing-brics-group-gather-rio-summit-2025-07-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, Israeli Prime Minister Benjamin Netanyahu was hosted by Trump <\/strong>at the White House, with talks focusing on the potential ceasefire Trump hinted could be reached this week. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/netanyahu-meet-trump-white-house-israel-hamas-discuss-ceasefire-2025-07-07\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The death toll from the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/29f0c837-99c9-4a5c-a51e-caee02773f9d\/this-morning:-brookfield-eyes-palm-hotel-+-no-golden-visas-for-crypto-investors\" style=\"\" rel=\"noopener\">floods in Texas<\/a><\/strong><strong> \u2014 now deemed one of the deadliest in the country\u2019s history \u2014 has exceeded 100<\/strong> as search efforts continue. (<a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/us-news\/live\/2025\/jul\/07\/texas-floods-rescue-teams-search-missing-more-heavy-rains-forecast-latest-news-updates\" style=\"\" rel=\"noopener\">Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/us-news\/climate-environment\/texas-braces-for-more-flash-floods-as-rescuers-search-for-survivors-a144ad31?mod=hp_lead_pos7\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2025\/07\/07\/us\/texas-floods\" style=\"\" rel=\"noopener\">New York Times<\/a>) <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/239.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> EnterpriseAM\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We take a look at the move to raise feed-in tariff for sanitary landfill-, sewage waste-derived energy in a bid to boost investor appetite.<\/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\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"668003 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=\"668003\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/668003\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-668003\" class=\"content-area-description single-story post-668003 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\/7\/251.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span>Whether you\u2019re diving into turquoise waters, catching the golden hour from your terrace, or just letting time drift by \u2014 Somabay is summer, redefined. Your ultimate escape, every single time.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"668004\" 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=\"668004\">\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\">Telecoms<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/partial-telecom-outage-hits-the-country-following-fire-in-ramses-central-building\/\">\r\n                            Partial telecom outage hits Egypt following fire in Ramses Central building                        <\/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\/07\/08\/partial-telecom-outage-hits-the-country-following-fire-in-ramses-central-building\/\" 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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ATMs, POSs, and online transactions \u2014 including InstaPay \u2014 have also been impacted by the connectivity outage, as were some hotlines. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PSA- <\/strong>The Health Ministry published alternative main ambulance, emergency police hotline, and urgent care numbers (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/pfbid0F72iLxiHLtz13PTCvxH2v9up9HuHNSmZt2vQ7DMjgGLvpwPyamdYPBrFRKxYD4KGl\" style=\"\" rel=\"noopener\">here<\/a>, <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02UtzbMWtN4NK5BsZjmcpHv3ALvquh9bn2TatRNFpm1huwzM1r7gEaWco8jNeKjFFPl\" style=\"\" rel=\"noopener\">here<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/pfbid02QzPA2yp1h2H2644MD1ENsNYm7BT7knxdw6bEXGGkuqkHQCkG4z3y9UjxMzRcFeWal?__cft__[0]=AZU5HsGA2cxRzdz8Myu4CjEv1EbKk7Wf3Dd60S0A1DjZ5kKGN6f-8njJL9ZxXKAsS_VubqRFTsPihCBq5-MTDI4WGr2IjHbc5bZLA1_ntmaeMLVRf2SgWJcQ9AI38kYe2eNgKitm40O6PaEw-UKoC2QX5Cn-FYpCe4hpHGd0Jpp2rosfGcv0o9Jsfm1zjbU_kEjLMqFbhJbZfWYTr94SI3Ld&__tn__=%2CO%2CP-R\" style=\"\" rel=\"noopener\">here<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Flights temporarily affected:<\/strong> The connectivity disruption also caused \u201climited\u201d flight delays, the Civil Aviation Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0inXaxP55JcvuKjdK7HLrkqZJfTLJFmWPzeLLvmkJCDxzdguCSpgxumYPt8zJJaLpl\" style=\"\" rel=\"noopener\">said<\/a>. Operations have since returned to normal at Cairo International Airport, with all passenger terminals operating normally and all flights that had been affected by the outage taking off, the ministry said <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/story.php?story_fbid=1155281053303617&id=100064651991477&rdid=410XreXBSAS4YqzO#\" style=\"\" rel=\"noopener\">this morning<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where things stand:<\/strong> Broadband services have been moved entirely to El Rawda, the NTRA said. The most recent update from <a target=\"_blank\" href=\"https:\/\/x.com\/netblocks\/status\/1942348014170845309\" style=\"\" rel=\"noopener\">Netblocks<\/a>, which tracks global internet connectivity, suggests that connectivity levels across the country are at \u201c44% of ordinary levels,\u201d falling from an <a target=\"_blank\" href=\"https:\/\/x.com\/netblocks\/status\/1942282495786987550\" style=\"\" rel=\"noopener\">earlier report<\/a> that connectivity was at 62% of ordinary levels.<\/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 blaze injured at least 22 people<\/strong>, with most suffering from smoke inhalation, Health Ministry spokesperson Hossam Abdel Ghaffar told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/blaze-cairo-telecoms-building-contained-2025-07-07\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. A large number of fire trucks were dispatched to contain the blaze, with <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/CairoGovernment1\/posts\/pfbid02CtGeYnyqMvh4Evyx8S8b51F3nGKdQVKXR9sFrHe4cLSZRJgrJrw6pPtw3HN6mfvol\" style=\"\" rel=\"noopener\">Cairo Governor<\/a> Ibrahim Saber personally overseeing efforts to put out the fire. The fire was brought under control last night, the National Telecom Regulatory Authority (NTRA) confirmed in <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0QpZ7cj9MjJQrk7J4y8D6wqAtrMcjp2fgrLUYoTfCNMioSRXfSthY11JxFMCFpNvVl\" style=\"\" rel=\"noopener\">a statement overnight<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What caused the fire?<\/strong> The fire broke out in an equipment room at Telecom Egypt\u2019s Ramses switchboard, the NTRA said. Investigators think right now that it is likely the result of an electrical short circuit, according to MENA news agency. Power was cut off to the entire building as a safety measure, but service is being gradually restored, the NTRA said. The regulator added that it will compensate all those impacted by the network disruptions. El Hekaya\u2019s correspondent said the fire reignited several times in different floors throughout the night (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=24017114474586752\" style=\"\" rel=\"noopener\">watch, runtime: 4:50<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>The Ramses telecoms data center is the focal point of internet in the country, used by Telecom Egypt, Vodafone, and Orange to route calls and connect users to the internet. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have backup plans:<\/strong> Speaking to El Hekaya\u2019s Amr Adib, NTRA official Mohamed Ibrahim emphasized the importance of the Ramses telecoms data center but noted that contingency measures are in place for such emergencies (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/watch\/?v=766944918992115\" style=\"\" rel=\"noopener\">watch, runtime: 6:35<\/a>). \u201cThere are other telecoms data centers of similar size and importance capable of performing the one in Ramses\u2019 role, and we\u2019ve already started shifting all traffic and lines to alternative centers to gradually restore services,\u201d he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The two floors of the data center that were affected by the fire housed technical<\/strong><strong> equipment that connects many Telecom Egypt services<\/strong>, Ibrahim said. \u201cNaturally, if Telecom Egypt is impacted, other services like mobile and home internet will also see disruptions,\u201d he said, explaining that telecom services are interlinked among operators.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fire received coverage across the foreign press:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/blaze-cairo-telecoms-building-contained-2025-07-07\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-07\/cairo-building-fire-disrupts-some-telecom-services-across-egypt?srnd=all\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/video\/fire-crews-battle-the-flames-as-a-blaze-engulfs-a-telecom-company-building-in-cairo-c3bc08b3504e4402b8f421e4a59cccfd\" style=\"\" rel=\"noopener\">AP<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecoms\/\">TELECOMS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            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   \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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/bonyan-could-make-its-egx-debut-before-the-end-of-the-month\/\">\r\n                            Bonyan could make its EGX debut before end of July                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/400.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"668008\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/bonyan-could-make-its-egx-debut-before-the-end-of-the-month\/400-jpg-70\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/400.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"400.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/400.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/400.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-668007\" class=\"content-area-description single-story post-668007 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-bonyan tag-capital-markets tag-egx tag-enterpriseam tag-ipo-watch tag-real-estate 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\/7\/.09081ebb-8664-40f7-995c-ef414b110c25.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Bonyan <\/strong><strong>could hit the EGX this month:<\/strong> Real estate investment firm Bonyan expects trading on its shares to begin before the end of this month, Chairman Shamel Aboul Fadl said during a presser attended by EnterpriseAM yesterday. The first day of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/150562d8-96f8-4d8f-9299-43c5e9ff6e14\/bonyan-to-kick-off-the-egx%25e2%2580%2599s-first-full-ipo-of-the-year-today\" style=\"\" rel=\"noopener\">IPO subscription<\/a> saw \u201cvery strong demand that exceeded expectations,\u201d Aboul Fadl said, though he declined to disclose exact figures. The offering is already oversubscribed, our sources told us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Bonyan is looking to raise EGP 1.8 bn by taking a 20-21.9% stake public. The retail and institutional tranches launched on Sunday with an indicative price range set at EGP 4.96-5.44 per share, while the independent financial advisor valued the stock at a fair value of EGP 7.52 a pop. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What does Bonyan do?<\/strong> The company focuses on acquiring high-quality, income-generating commercial properties rather than developing or selling units. \u201cThis IPO isn\u2019t just about raising funds, but about redefining real estate investment in Egypt, similar to global REIT models,\u201d Aboul Fadl said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investors will be getting quite the deal: <\/strong>The IPO values Bonyan at EGP 8.2-9 bn, up to 34% below analysts\u2019 average valuation of up to EGP 13.4 bn, according to Chief Financial Officer Fady Raafat. Aboul Fadl said this aims to attract long-term investors seeking stable, regularly distributed returns rather than speculators. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Growth plans <\/strong><strong>in the pipeline:<\/strong> Bonyan owns 10 properties \u2014 with a 93% occupancy rate \u2014 valued at EGP 16.7 bn as of the end of 2024. The company is currently evaluating seven new assets to expand its portfolio in East and West Cairo, targeting fully leased grade A properties, Aboul Fadl said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>CI Capital and Arqaam Capital are coordinators and bookrunners, with Mubasher acting as placement agent. Matouk Bassiouny &amp; Hennawy is legal counsel, Baker Tilly is independent financial advisor, and PwC is auditor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WANT THE DETAILS? <\/strong>We break down everything you need to know about the IPO in our coverage of the IPO prospectus earlier this week. Check it out <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/150562d8-96f8-4d8f-9299-43c5e9ff6e14\/bonyan-to-kick-off-the-egx%25e2%2580%2599s-first-full-ipo-of-the-year-today\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bonyan\/\">bonyan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"668009\" 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=\"668009\">\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\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/net-foreign-assets-bounce-back-to-record-usd-14-7-bn-in-may\/\">\r\n                            Egypt\u2019s net foreign assets bounce back to record USD 14.7 bn in May                        <\/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\/07\/08\/net-foreign-assets-bounce-back-to-record-usd-14-7-bn-in-may\/\" 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\/07\/08\/net-foreign-assets-bounce-back-to-record-usd-14-7-bn-in-may\/')\">\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\/07\/08\/net-foreign-assets-bounce-back-to-record-usd-14-7-bn-in-may\/\">\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=Net foreign assets bounce back to record USD 14.7 bn in May&url=https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/net-foreign-assets-bounce-back-to-record-usd-14-7-bn-in-may\/\">\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\/07\/08\/net-foreign-assets-bounce-back-to-record-usd-14-7-bn-in-may\/&title=Net foreign assets bounce back to record USD 14.7 bn in May\">\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=Net+foreign+assets+bounce+back+to+record+USD+14.7+bn+in+May+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F07%2F08%2Fnet-foreign-assets-bounce-back-to-record-usd-14-7-bn-in-may%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\/07\/08\/net-foreign-assets-bounce-back-to-record-usd-14-7-bn-in-may\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1752.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"668010\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/net-foreign-assets-bounce-back-to-record-usd-14-7-bn-in-may\/1752-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1752.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1752.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1752.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1752.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-668009\" class=\"content-area-description single-story post-668009 post type-post status-publish format-standard has-post-thumbnail hentry category-banking tag-banking tag-central-bank-of-egypt tag-enterpriseam tag-foreign-exchange 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\/7\/.12c1eae2-a052-4a91-8763-48e3c7b05750.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Net foreign<\/strong><strong> assets in Egypt\u2019s banking sector rose<\/strong><strong> 8.7% i<\/strong><strong>n May to USD 14.7 bn<\/strong>, up USD 1.2 bn from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/00e721f7-505f-4464-89ec-5115a28dba8c\/%253cmark%253enet%253c%2Fmark%253e%253cmark%253e-foreign%253c%2Fmark%253e%253cmark%253e-assets%253c%2Fmark%253e-fall-in-april-for-the-first-time-in-four-months\" style=\"\" rel=\"noopener\">April<\/a>, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/415.pdf\" style=\"\" rel=\"noopener\">data<\/a> from the Central Bank of Egypt (CBE). This marks an improvement from April, when the country's net foreign assets in the banking sector saw their first decline in four months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the rebound: <\/strong>The rebound was mainly driven by commercial banks\u2019 net foreign assets hitting their highest level since February 2021, reaching USD 4.8 bn in May, a significant USD 3.2 bn increase from the USD 1.6 bn recorded a month prior. In May, foreign assets edged up to around USD 35.5 bn from USD 31.3 bn in April, while liabilities rose to USD 30.6 bn, up from USD 29.7 bn in the previous month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This could be a sign of renewed confidence in the economy:<\/strong> The rise in net foreign assets in Egypt \u201cpartially reflects a return of confidence and growing inflows through official channels,\u201d Alraya Consulting CEO Hany Abou El Fotouh told EnterpriseAM. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The central bank recorded a surplus of around USD 9.9 bn in May<\/strong>, down from USD 11.9 bn in April. Net foreign assets increased to USD 47.2 bn in May, up from USD 46.7 bn a month, while liabilities reached about USD 37.3 bn, compared to USD 34.8 bn in April. However, \u201cthe noticeable USD 2 bn decline in the central bank\u2019s surplus raises legitimate questions: Was part of the reserves used to support the [local] currency, or perhaps to settle short-term liabilities?\u201d Abou El Fotouh added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Reason to be optimistic? <\/strong>\u201cThe continued growth of net foreign assets in the banking system, despite the delay in the fifth review of our loan agreement with the IMF, reflects increase confidence among credit rating agencies in Egypt\u2019s ability to successfully carry out its ambitious economic reforms and paves the way for these institutions to upgrade Egypt's credit rating soon,\u201d banking expert Mohamed Abdel Aal told us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Net foreign assets <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f0df43c0-aec0-4136-8cde-0f3e7b8a96a3\/%253cmark%253enet-foreign-assets%253c%2Fmark%253e-increase-for-the-third-month-running,-recording-usd-15.4-bn-in-march\" style=\"\" rel=\"noopener\">hit a record high in<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f0df43c0-aec0-4136-8cde-0f3e7b8a96a3\/%253cmark%253enet-foreign-assets%253c%2Fmark%253e-increase-for-the-third-month-running,-recording-usd-15.4-bn-in-march\" style=\"\" rel=\"noopener\">March<\/a>, which surpassed the previous peak of USD 14.3 bn recorded in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/05dbfb21-5b24-459c-8961-cd7efb29461b\/net-foreign-assets-record-their-first-surplus-in-over-two-years\" style=\"\" rel=\"noopener\">May 2024<\/a> \u2014 courtesy of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4461a6ec-f67a-45d9-b396-b6b1f6533a35\/second-usd-20-bn-tranche-of%253cmark%253e-ras-el-hekma%253c%2Fmark%253e-funds-land-in-state-coffers\" style=\"\" rel=\"noopener\">second and final tranche<\/a> of the USD 35 bn Ras El Hekma agreement, which brought in some USD 14 bn in fresh inflows. Before that, Egypt had been in a prolonged net foreign asset deficit since February 2022, when the outbreak of the war in Ukraine triggered capital outflows of around USD 20 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO FROM THE CBE- Foreign reserves ticked up to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/news-publications\/news\/2025\/07\/07\/07\/44\/net-international-reserves-at-the-end-of-june-2025\" style=\"\" rel=\"noopener\">USD 48.7 bn<\/a><\/strong><strong> at the end of June<\/strong>, marking an increase of USD 174 mn from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/379fbc59-daca-4f02-97d8-a7cab6eb9056\" style=\"\" rel=\"noopener\">May<\/a>, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/414.pdf\" style=\"\" rel=\"noopener\">data<\/a> released by the CBE. Net foreign reserves increased by around USD 2.3 bn since June 2024, according to our calculations based on CBE data.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mixed bag for FX + gold + SDRs: <\/strong>FX reserves rose to USD 35.1 bn in June, up from USD 34.8 bn in May, while gold reserves slightly decreased to USD 13.6 bn, down from USD 13.7 bn in May. Meanwhile, special drawing rights were unchanged m-o-m at USD 41 mn, after having risen to USD 194 mn in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/379fbc59-daca-4f02-97d8-a7cab6eb9056\/%253cmark%253eforeign-reserves%253c%2Fmark%253e-increase-by-usd-387-mn-in-april-to-usd-48.1-bn\" style=\"\" rel=\"noopener\">April<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/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=\"668011\" 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=\"668011\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/house-approves-in-principle-cabinets-bill-seeking-to-amend-education-law\/\">\r\n                            House approves in principle cabinet\u2019s bill seeking to amend Education Law                        <\/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\/07\/08\/house-approves-in-principle-cabinets-bill-seeking-to-amend-education-law\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/454.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"668012\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/house-approves-in-principle-cabinets-bill-seeking-to-amend-education-law\/454-jpg-23\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/454.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"454.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/454.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/454.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-668011\" class=\"content-area-description single-story post-668011 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-education tag-enterpriseam tag-house-of-representatives tag-legislation tag-legislation-watch 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\/7\/.98c2114d-2685-4253-b9e3-67c8f74af8ca.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>MPs <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0CcywrsrefSxXWnksXPnnV8CiHkke3Av8bb95RrQ3k63tN2HpyYmPGu7Z4EpPiErYl\" style=\"\" rel=\"noopener\">approved<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0CcywrsrefSxXWnksXPnnV8CiHkke3Av8bb95RrQ3k63tN2HpyYmPGu7Z4EpPiErYl\" style=\"\" rel=\"noopener\">in<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0CcywrsrefSxXWnksXPnnV8CiHkke3Av8bb95RrQ3k63tN2HpyYmPGu7Z4EpPiErYl\" style=\"\" rel=\"noopener\">principle<\/a><\/strong><strong> cabinet-proposed amendments to the Education Law<\/strong> after the House Education Committee proposed some fresh amendments, which are set to shake up the sector for students, parents, and teachers alike. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>The Madbouly government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/783c9e97-d604-47d8-9bb7-fbec6fb943a6\/a-look-at-the-proposed-amendments-to-the%253cmark%253e-education-law%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">submitted a<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/783c9e97-d604-47d8-9bb7-fbec6fb943a6\/a-look-at-the-proposed-amendments-to-the%253cmark%253e-education-law%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">draft<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/783c9e97-d604-47d8-9bb7-fbec6fb943a6\/a-look-at-the-proposed-amendments-to-the%253cmark%253e-education-law%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">law<\/a> to the House last month, seeking to amend the Education Law. The amendments would, if passed, expand vocational training, keep Thanaweya Amma as a three\u2011year track, and introduce new pathways.<\/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>Clarification of the baccalaureate system:<\/strong> The draft law includes defined guidelines for the baccalaureate system, which was previously only briefly mentioned in the government\u2019s notes. This aims to give students a full and complete picture of the system and enable them to efficiently choose between enrolling in the Thanaweya Amma or baccalaureate systems. The amendments emphasize that the baccalaureate is optional, free, and three years in duration. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The Education Committee <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/019d95eb-0227-4829-95eb-dba8160224c4\/ebrd,-admaius-eye-indirect-minority-stake-in-minapharm\" style=\"\" rel=\"noopener\">previously approved<\/a> amendments to the Education Law to introduce a new baccalaureate system that will run alongside Thanaweya Amma.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Coursework submitted throughout the year is now a part of the final grade:<\/strong> A percentage of annual coursework \u2014 not exceeding 20% \u2014 is now mandated for students in the final stage of basic education. This move aims to eliminate student absenteeism.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Free education is still a core idea in the draft law<\/strong>, as it states that the government\u2019s power to raise exam fees for retakes has been limited. Any fees outlined in the government's proposed draft law have also been reduced and capped at a maximum limit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The draft law stipulates that university admissions must take into account the number of <\/strong><strong>students applying from each secondary education system<\/strong>, aiming to ensure equality and equal chance among all students, especially those from the Thanaweya Amma and baccalaureate systems.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DIVE DEEPER-<\/strong> We broke down the details of cabinet-proposed amendments to the Education Law in a Blackboard published last month. Check out the story <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/783c9e97-d604-47d8-9bb7-fbec6fb943a6\/a-look-at-the-proposed-amendments-to-egypt%25e2%2580%2599s-education-law\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n<p class=\"tag-border-left\">HOUSE GREENLIGHTS MINING DRAFT LAW- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The House approves minerals contract:<\/strong> The House approved a draft law allowing the Oil Ministry to contract the Egyptian Mineral Resources Authority and Centamin to exploit gold ore and other minerals in the Sukkari region, where the LSE-listed gold miner currently operates the Sukkari Gold Mine \u2014 Egypt\u2019s largest. The authority and Centamin will have the right to exploit the area for up to 30 years.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation 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=\"668013 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=\"668013\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/668013\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-668013\" class=\"content-area-description single-story post-668013 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.eg\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2099.jpg?ssl=1\"><\/a><\/span><\/p>\n\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=\"668014\" 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=\"668014\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/updated-automotive-industry-development-program-slashes-local-component-ratios\/\">\r\n                            Updated Automotive Industry Development Program slashes local component ratios                        <\/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\/07\/08\/updated-automotive-industry-development-program-slashes-local-component-ratios\/\" target=\"_blank\">\n            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class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/590.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"668015\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/updated-automotive-industry-development-program-slashes-local-component-ratios\/590-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/590.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"590.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/590.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/590.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-668014\" class=\"content-area-description single-story post-668014 post type-post status-publish format-standard has-post-thumbnail hentry category-automotive tag-automotive tag-enterpriseam tag-evs tag-manufacturing wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/7\/.0c4e583c-d8a5-4aa0-8151-e9874308efb5.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The new and improved Automotive Industry Development Program kicked off at the start <\/strong><strong>of this month<\/strong>, with the amended seven-year program starting with the new fiscal year said to attract more investments and deepen the localization of the sector, according to an Industry Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/-%D9%86%D8%A7%D8%A6%D8%A8-%D8%B1%D8%A6%D9%8A%D8%B3-%D9%85%D8%AC%D9%84%D8%B3-%D8%A7%D9%84%D9%88%D8%B2%D8%B1%D8%A7%D8%A1-%D9%84%D9%84%D8%AA%D9%86%D9%85%D9%8A%D8%A9-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D9%8A%D8%A9-%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D8%A9-%D9%88%D8%A7%D9%84%D9%86%D9%82%D9%84-%D9%8A%D8%B3%D8%AA%D8%B9%D8%B1%D8%B6-%D9%85%D8%B9-%D9%85%D8%B5%D9%86%D8%B9%D9%8A-%D8%A7%D9%84%D8%B3\/1275807161256368\/\" style=\"\" rel=\"noopener\">statement<\/a>. But contrary to expectations, the minimum local component ratio was slashed, pointing to the government possibly prioritizing bringing over automakers for assembly projects as the first step in its plan to truly localize the automotive sector. <\/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>Under the new rules, factories should roll out at least 10k fossil fuel-powered cars per year<\/strong>, with at least 5k models per model. The minimum local component ratio is set at 20% and will be updated every two years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Companies assembling \u2014 and hopefully one day manufacturing EVs \u2014 will start out with <\/strong><strong>a minimum annual production quota of 1k vehicles<\/strong>, which will be raised to 7k by the end of the program. EVs will also have a 10% local component ratio to meet, which will be reviewed annually.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The targeted local component ratios are much easier to meet than previously<\/strong> \u2014 the previous iteration of the program that ended on 30 June laid out a 45% ratio. There was even chatter that the rate <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a748f35c-83e5-485c-b6e9-ca6199ce6ddc\/the-automotive-industry-development-program-is-getting-a-facelift\" style=\"\" rel=\"noopener\">could be raised to 65%<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Build it and they will come? <\/strong>The change of approach could be a sign that the government is prioritizing getting companies to shift assembly to Egypt first and foremost. Under this logic, the government may think it has a better stab at moving towards proper automotive manufacturing and developing a local ecosystem of feeder industries to increase the local component ratio once there\u2019s already a sizable auto assembly industry that would be more than happy to swap out imported components for locally made ones.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The incentives will apply for vehicles costing no more than EGP<\/strong><strong> 1.25<\/strong><strong> mn for consumers,<\/strong> with engines smaller than 1.6l.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Incentives will also be pegged at a maximum of EGP 150k<\/strong>, with the ratio also pegged at a maximum 30% of the value of the car once it leaves the factory floor. The incentives will be paid out by deducting tax and customs dues owed by the companies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But companies producing cars exceeding a 35% local component ratio will be given an <\/strong><strong>extra EGP 5k<\/strong> for every percent increase in the ratio that can push up incentives beyond the EGP 150k maximum. By the end of the seven-year program, the local component ratio will be raised to 25% across the board.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Companies really doubling down on auto localization will also be reimbursed for the land <\/strong><strong>cost of the projects<\/strong>, with factories producing over 100k fossil fuel-powered cars or 10k EVs eligible. Companies that export will also qualify for greater incentives.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"668016\" 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=\"668016\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/qalaa-holdings-sees-revenues-rise-53-in-2024\/\">\r\n                            Qalaa Holdings sees revenues rise 53% in 2024                        <\/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\/07\/08\/qalaa-holdings-sees-revenues-rise-53-in-2024\/\" 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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Despite the jump in revenues, the company saw its bottom line dip 2% y-o-y to EGP 6.4 bn as refining margins from its Egyptian Refining Company (ERC) shrank.<\/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 main driver of top line growth was its USD revenue from ERC<\/strong>, which the company mostly attributed to the devaluation of the EGP. ERC also wrapped up its senior and subordinated restructuring in December 2024 and is \u201con track to fully settle its senior debt ahead of schedule,\u201d which currently stands at USD 228.0 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a quarterly basis, revenues were up 35% y-o-y in 4Q<\/strong>, coming in at EGP 35.6 bn, which the company also attributes to ERC. The same period registered a 91% y-o-y drop in net income to EGP 420.7 mn due to one-off gains in 4Q 2023 from divesting Taqa Arabia shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>\u201cMoving forward, we will continue pushing ahead with our growth strategies across our diverse platforms over the coming months. I am confident that the group\u2019s outlook remains bright despite the challenging market conditions, and we will continue pushing forward with our strategy of undertaking small, incremental investments with the aim of continuously advancing Qalaa\u2019s investments portfolio,\u201d Qalaa Holdings Chairman Ahmed Heikal said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- TMG Holding saw new sales rise 59% y-o-y in 1H 2025 to EGP 211 bn<\/strong>, which the company said was driven by sales at its SouthMed, Madinaty, Privado, Noor, Celia, and Saudi Banan projects, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/437.pdf\" style=\"\" rel=\"noopener\">statement<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/437.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. The company expects further growth as it follows through with its Iraq and Oman expansions.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qalaa-holdings\/\">Qalaa Holdings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/talaat-moustafa-group\/\">Talaat Moustafa Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"668018 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=\"668018\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/668018\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-668018\" class=\"content-area-description single-story post-668018 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.instagram.com\/reel\/DHs9VNZtJeS\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/770.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"668019\" 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=\"668019\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/polaris-parks-will-soon-acquire-two-new-plots-to-set-up-industrial-zones\/\">\r\n                            Polaris Parks will soon acquire two new plots to set up industrial zones                        <\/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\/07\/08\/polaris-parks-will-soon-acquire-two-new-plots-to-set-up-industrial-zones\/\" 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\/07\/08\/polaris-parks-will-soon-acquire-two-new-plots-to-set-up-industrial-zones\/')\">\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\/07\/08\/polaris-parks-will-soon-acquire-two-new-plots-to-set-up-industrial-zones\/\">\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=Polaris Parks will soon acquire two new plots to set up industrial zones&url=https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/polaris-parks-will-soon-acquire-two-new-plots-to-set-up-industrial-zones\/\">\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\/07\/08\/polaris-parks-will-soon-acquire-two-new-plots-to-set-up-industrial-zones\/&title=Polaris Parks will soon acquire two new plots to set up industrial zones\">\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=Polaris+Parks+will+soon+acquire+two+new+plots+to+set+up+industrial+zones+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F07%2F08%2Fpolaris-parks-will-soon-acquire-two-new-plots-to-set-up-industrial-zones%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\/07\/08\/polaris-parks-will-soon-acquire-two-new-plots-to-set-up-industrial-zones\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/924.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"668020\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/polaris-parks-will-soon-acquire-two-new-plots-to-set-up-industrial-zones\/924-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/924.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"924.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/924.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/924.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-668019\" class=\"content-area-description single-story post-668019 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-cib tag-debt tag-enterpriseam tag-manufacturing tag-orascom-investment-holding tag-polaris-parks tag-supreme-holding 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\/7\/.0d4bbe3c-dd53-47f4-b063-7910a2aa61b2.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INDUSTRY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Polaris<\/strong><strong> Parks eyes expansion in Egypt:<\/strong> Industrial real estate developer Polaris Parks is nearing agreements to develop a total of 3.5 mn sqm across two sites in the new capital and Sadat City, General Manager Bassel Shoirah told EnterpriseAM. The company expects the new industrial zones to attract investments exceeding USD 5 bn. Polaris plans to finalize the contracts in 3Q 2025.<\/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>Focus sectors:<\/strong> The new zone will target high-value industries including engineering, textiles, chemicals, and building materials, Shoirah added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bigger ambitions:<\/strong> Polaris has earmarked EGP 6 bn for its new capital project and EGP 4.5 bn for the first phase of its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/825527bd-5f30-402e-9e80-8f5240ea4e2e\/%253cmark%253epolaris-parks%253c%2Fmark%253e-earmarks-egp-6-bn-for-new-october-city-industrial-zone\" style=\"\" rel=\"noopener\">New October City development<\/a>, where construction began this year with completion targeted within two years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Supreme Holdi<\/strong><strong>ng is planning to invest EGP 1 bn in a chemicals project in the Suez Canal <\/strong><strong>Economic Zone<\/strong>, Chairman Moharram Helal told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2025\/07\/07\/%D8%B3%D9%88%D8%A8%D8%B1%D9%8A%D9%85-%D8%A7%D9%84%D9%82%D8%A7%D8%A8%D8%B6%D8%A9-%D8%AA%D8%B9%D8%AA%D8%B2%D9%85-%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AC%D9%86%D9%8A%D9%87-%D9%81%D9%8A-%D9%85%D8%B4%D8%B1%D9%88%D8%B9-%D9%83%D9%8A%D9%85%D8%A7%D9%88%D9%8A%D8%A7%D8%AA-%D8%A8%D9%80%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D8%A9-%D9%82%D9%86%D8%A7%D8%A9-%D8%A7%D9%84%D8%B3%D9%88%D9%8A%D8%B3\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. The company will partner with two unnamed local investors for the project and is in discussion to secure funding from three local banks to finance 60% of the project\u2019s total investment ticket. The firm is also planning to invest USD 5 mn to open a butane cylinder plant in Angola within the next three months at most. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PHARMA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EGX-listed pharma firm Rameda has acquired two products <\/strong>in the central nervous system (CNS) and pain management segments, marking its first acquisitions of the year, the pharma player said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/434.pdf\" style=\"\" rel=\"noopener\">press release<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/434.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. The products target major depressive disorders, anxiety, neuropathic pain, and generalized anxiety disorder \u2014 therapeutic areas with a combined market value of over EGP 1.3 bn and a three-year CAGR exceeding 25%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More acquisitions on the horizon:<\/strong> \u201cThis transaction represents a first step in our acquisition strategy for 2025,\u201d said COO and CFO Mahmoud Fayek, adding that Rameda remains actively engaged in pursuing additional acquisitions to drive sustainable growth and enhance shareholder value.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DEBT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CIB inked <\/strong><strong>a EGP 963 mn loan agreement with Orascom Investment Holding\u2019s OSL for the Giza <\/strong><strong>Pyramids <\/strong><strong>sound and light overhaul<\/strong>, the bank said in a statement seen by EnterpriseAM. The medium-term credit facility is part of Orascom Investment Holding\u2019s larger project to revamp the plateau and improve the visitor experience.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-investment-holding\/\">Orascom Investment Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/polaris-parks\/\">Polaris Parks<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supreme-holding\/\">Supreme Holding<\/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=\"668021\" 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=\"668021\">\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\/07\/08\/brics-alternative-payment-system-seems-to-drag-on\/\">\r\n                            Brics reaffirms commitment to payment system despite slow progress                        <\/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\/07\/08\/brics-alternative-payment-system-seems-to-drag-on\/\" 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\/07\/08\/brics-alternative-payment-system-seems-to-drag-on\/')\">\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\/07\/08\/brics-alternative-payment-system-seems-to-drag-on\/\">\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=Brics\u2019 alternative payment system seems to drag on&url=https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/brics-alternative-payment-system-seems-to-drag-on\/\">\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\/07\/08\/brics-alternative-payment-system-seems-to-drag-on\/&title=Brics\u2019 alternative payment system seems to drag on\">\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=Brics%E2%80%99+alternative+payment+system+seems+to+drag+on+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F07%2F08%2Fbrics-alternative-payment-system-seems-to-drag-on%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\/07\/08\/brics-alternative-payment-system-seems-to-drag-on\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/460.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"668022\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/brics-alternative-payment-system-seems-to-drag-on\/460-jpg-25\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/460.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"460.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/460.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/460.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-668021\" class=\"content-area-description single-story post-668021 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-brics tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/7\/.11fe0d22-a36a-450f-846f-5e1f0f0b90ef.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Progress on Brics\u2019 cross-border payments system has stalled, <\/strong>despite a decade of discussions, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-06\/decade-old-local-currency-push-by-brics-is-still-a-pipe-dream\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported yesterday. Leaders reaffirmed their commitment to continue talks on the initiative during the Brics summit in Brazil, but acknowledged the slow pace amid the challenges of a rapidly changing global trade environment.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>Brics Pay is a financial system that, if developed, would allow Brics nations to trade directly with one another using their own local currencies, instead of relying on the USD. The system\u2019s goal is to create an independent financial network that is separate from the US-dominated Swift system.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A window of opportunity: <\/strong>The USD has its worst start to a year since 1973, pressured by US President Donald Trump\u2019s trade policies and critiques of the Federal Reserve, creating a potential opening for alternatives. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So, what\u2019s the hold-up? <\/strong>For one, the technical execution is complex, involving decisions on payment mechanisms, currencies, infrastructure, and cost-sharing. This is compounded by the unpreparedness of some member nations\u2019 central banks to integrate, alongside serious security concerns over a unified system. Some members have also questioned if the substantial setup and maintenance costs of this unified system are justified when compared to existing bilateral trade arrangements.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Political realities aren\u2019t helping as well<\/strong>, with the bloc's recent expansion to 10 members complicating decision-making. Existing international sanctions on members like Russia and Iran, coupled with the use of several non-convertible currencies within the bloc also present additional obstacles.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Parallel discussions on investment and finance are taking place: <\/strong>Brics is also working on expanding local currency financing to reduce trade financing costs, Tatiana Rosito, secretary for international relations at Brazil\u2019s Finance Ministry, told Bloomberg. However, discussions around a new investment platform \u2014 reducing dependence on hard currency financing \u2014 have also stalled due to the complexity of the proposals and the need for further technical dialogue.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US hangs more tariffs over the bloc: <\/strong>Trump threatened an additional 10% tariff on any country aligning with what he calls \u201cAnti-American\u201d Brics policies, rattling global trade with even more uncertainty. This follows his December threat of 100% tariffs if Brics nations ditched the USD in bilateral trade, a move that paradoxically spurred the bloc\u2019s interest in developing alternative local payment systems.<\/p><p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are modestly inching up in early trading<\/strong>, despite Trump\u2019s new tariff announcements. The Shanghai Composite and Hong Kong\u2019s Hang Seng are both up 0.2%, while Japan\u2019s Nikkei remained virtually unchanged. Meanwhile, Wall Street futures are mostly in the red.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">33,038<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +11.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 49.60<\/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 49.74<\/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><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 49.61<\/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 49.71<\/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\">11,345<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: -5.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,007<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +6.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,803<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: +12.5%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6,230<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: +5.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,807<\/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: +7.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,342<\/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: +9.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 69.58<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.41<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3,343<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0%<\/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 109,044<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.1% (YTD: +15.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P Egypt Sovereign Bond Index<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">878.46<\/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\">145.82<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +4.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>VIX (Volatility Index)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">17.79<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.8% (YTD: +2.5%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 0.4% at yesterday\u2019s close<\/strong> on turnover of EGP 5.5 bn (10.7% above the 90-day average). Regional investors were the sole net sellers. The index is up 11.1% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Sidi Kerir Petrochemicals (+4.2%), Alexandria Mineral Oils (+3.9%), and Qalaa Holdings (+3.8%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>EFG Holding (-2.0%), Emaar Misr (-1.9%), and Beltone Holding (-1.7%).<\/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\/brics\/\">BRICS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"668023\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">10<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/feed-in-tariff-for-sanitary-landfill-sewage-waste-derived-energy-raised-in-a-bid-to-boost-investor-appetite\/\">\r\n                            Feed-in tariff for sanitary landfill-, sewage waste-derived energy raised in a bid to boost investor appetite<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/feed-in-tariff-for-sanitary-landfill-sewage-waste-derived-energy-raised-in-a-bid-to-boost-investor-appetite\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The tariff adjustment was introduced to meet private sector demands for higher rates and to attract more investments into waste-to-energy (WtE) projects, a government source at the Environment Ministry told EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>The changes raise sanitary landfill-derived feed-in tariffs by 57.1% and sewage sludge feed-in tariffs by 109.5%, based on the EGP\u2019s current value against the greenback.<\/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 amount paid out will also be pegged to the value of the EGP against the greenback <\/strong><strong>on the day of the invoice<\/strong>, which the producer will get from the distribution arms of the Egyptian Electricity Holding Company (EEHC), providing current and future project operators extra security from potential swings in the foreign exchange rate. The exact rate will follow that published by the Central Bank of Egypt on the day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On top of that, projects will also be able to get golden licenses and other tax and non-tax <\/strong><strong>incentives<\/strong>, which will stem from the existing investment law, as well as and future amendments to it according to the ministry source. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In recognition of the investment that these projects need, land for these projects will be <\/strong><strong>used under 25-year usufruct agreements<\/strong><strong>.<\/strong> Concerns about distribution companies' failure to pay producers were also addressed, with a commitment from the EEHC to hold offtakers accountable for any unpaid bills. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>Electricity is produced from sanitary landfills and sewage sludge by capturing the gas that is released from these sites, which can then be used as fuel to generate electricity. By capturing this gas or burning certain types of waste and using the heat to generate electricity, this doesn\u2019t only reduce the need for more polluting forms of energy, it also prevents polluting gases from decomposition from making their way into the atmosphere.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A total of 36 companies are currently involved in various projects within the WtE<\/strong><strong> system<\/strong>, reflecting the attractive investment environment in the sector, our source told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And this list could soon grow, with 84 companies looking to set up WtE projects<\/strong>, including eight projects that are just awaiting their final contracts to be signed, our source told us. The government is also about to sign contracts with eight Egyptian-foreign consortiums to produce 1.7 bn KWh annually of electricity from waste recycling and recycle 3.5 mn tons of waste a year in eight governorates soon, Environment Ministry Advisor for Waste Khaled El Farra told EnterpriseAM. The total targeted investments for the projects combined will reach somewhere between USD 900 mn-1.2 bn and be situated in the governorates of Giza, Alexandria, Gharbia, Beheira, Damietta, Fayoum, Sharqia, and Monufia, according to El Farra.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who are the local stakeholders in the partnerships? <\/strong>These alliances include companies like Orascom Construction, Hassan Allam Holding, Taqa Arabia, Elsewedy Group, Infinity, Arab Organization for Industrialization, National Authority for Military Production, and Medaf Investments, we were told.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Energy diversification is the name of the game<\/strong>, especially with the country\u2019s rising energy import bill, our source told us. Green energy supplies will also help shield many of the country\u2019s key sectors from the EU\u2019s incoming Carbon Border Adjustment Mechanism \u2014 known by its acronym CBAM \u2014 particularly in the energy-intensive fertilizer, cement, iron, and aluminum industries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top green economy stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Y<\/strong><strong>anmu East Logistics Park<\/strong><strong> secured Edge Advanced certification for three of its <\/strong><strong>warehouses<\/strong>, which have reduced energy consumption by 49%, water use by 53%, and embodied carbon by 59%. The HAU Logistics and Kuwait-based global supply chain and infrastructure player Agility JV has three more in-the-works warehouses it believes will also meet the certification criteria. (<a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/93.pdf\" style=\"\" rel=\"noopener\">Statement, pdf<\/a>)<\/li>\n<li><strong>The Red Sea Wind Energy consortium has <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9cbac972-9580-493e-8844-b593d7006558\/cabinet-will-discuss-electricity-pricing-scenarios-this-week\" style=\"\" rel=\"noopener\">completed the full commissioning<\/a><\/strong><strong> of its <\/strong><strong>650 MW wind farm in Ras Ghareb<\/strong>, with the final 150 MW phase coming online four months earlier than planned. All units are now connected to the national grid. <\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/environment\/\">environment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n      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href=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/08\/668025\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-668025\" class=\"content-area-description single-story post-668025 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;\">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 (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;\">10 July (Thursday): Capmas to release inflation data for June<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15-16 July (Tuesday-Wednesday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egyptminingforum.com\/exhibition\/about-the-exhibition\/?gad_source=1&gad_campaignid=22145256677&gbraid=0AAAAAoP2lHu_JzhAGKkLHtW32aUxexX0i&gclid=Cj0KCQjwpf7CBhCfARIsANIETVoyDpzGO5oHjehtTmdgBIO-Sh3ECxER6etNja6K40PO6Jwy6j-JNsgaAs6UEALw_wcB\" style=\"\">Egypt Mining 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;\">July: 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>16 - 18 July (Wednesday-Friday): <\/span><span style=\"font-weight:700\">Egypt\u2019s New Era: Investment Opportunities<\/span><span style=\"font-weight:400;\">: Business mission to the UK organized by The British Egyptian Business Association (Beba) <\/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>7 August (Thursday): The Finance Ministry to begin disbursement of 50% of exporters\u2019 pre-June 2024 dues over a four-year plan.<\/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 (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>The Egyptian-Moroccan Business Council <\/span><span>to send<\/span><span> a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.alborsaanews.com\/2025\/06\/28\/1897472\" style=\"\">delegation<\/a><\/span><span style=\"font-weight:400;\"> of 23 local companies to Rabat.<\/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;\">The Engineering Export Council of Egypt will ship a commercial delegation to Russia to ramp up exports to European markets.<\/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 (Thursday): Monetary Policy Committee\u2019s sixth meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">7 October (Tuesday): The 2025 EnterpriseAM Egypt Forum.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-16 October (Sunday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02NagbQx5dgqu17pbmb9FVEcu5tcoZrNEazUBXhBmBDT6Q1c3Yv2QFszSBGqSsXjyvl\" style=\"\">Cairo Water Week<\/a><\/span><span style=\"font-weight:400;\">, Cairo. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">19-22 October (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>October: The third iteration of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/exportsmart.net\/\" style=\"\">Export Smart<\/a><\/span><span style=\"font-weight:400;\"> Exhibition and Conference.<\/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: <\/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 (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:1.5;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">3Q 2025: Nasr Automotive begins locally manufacturing passenger cars.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Mid-2025: The Administrative Capital for Urban Developments to roll out the second phase of offering industrial plots to investors <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2025: The InterAcademy Partnership assembly<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2025: Nile Basin States Summit, Cairo, Egypt<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2025: Release of the government\u2019s Startup Charter document <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2026<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Early 2026:<\/span><span style=\"font-weight:400;\"> Passenger operations on the New Administrative Capital\u2013Nasr City monorail scheduled to begin.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">1Q 2026: <\/span><span style=\"font-weight:400;\">Trial operations for the Ain Sokhna\u2013Sixth of October section of Egypt\u2019s first high-speed rail line scheduled to begin.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 January: European Union\u2019s Carbon Border Adjustment Mechanism (CBAM) to fully come into effect<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>May 2026: End of extension for developers on 15% interest rates for land installment payments <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 January-7 February: Egypt to host the African Games.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>April 2027: Tenth of Ramadan <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8320d4df-e1a7-405e-be07-08e6590aff0e\/\" style=\"\">dry port and logistics hub<\/a><\/span><span style=\"font-weight:400;\"> to begin operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2027: Egypt to host EBRD\u2019s annual meetings for 2027.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">September 2028: First unit of the Dabaa nuclear power plant begins operations.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Bonyan to make EGX debut this month | Net foreign assets bounce back | Updated Automotive Industry Development Program.<\/p>\n","protected":false},"featured_media":668000,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-667999","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"9dd39f2d-8adb-49f5-a85d-2219cd9a97bb","teaser":"Bonyan to make EGX debut this month | Net foreign assets bounce back | Updated Automotive Industry Development Program.","photo_url":"https:\/\/ent.news\/2025\/7\/458.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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