{"id":669412,"date":"2025-08-03T00:00:00","date_gmt":"2025-08-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=669412"},"modified":"2025-12-18T07:00:35","modified_gmt":"2025-12-18T07:00:35","slug":"no-new-taxes-coming-and-weve-been-spared-the-worst-of-trumps-tariffs","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/no-new-taxes-coming-and-weve-been-spared-the-worst-of-trumps-tariffs\/","title":{"rendered":"No new taxes coming \u2014 and we\u2019ve been spared the worst of Trump\u2019s tariffs"},"content":{"rendered":"<section id=\"669414\" 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=\"669414\">\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\/08\/03\/energos-force-rsfu-docks-in-jordan\/\">\r\n                            Energos Force RSFU docks in Jordan                        <\/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\/08\/03\/energos-force-rsfu-docks-in-jordan\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/08\/03\/energos-force-rsfu-docks-in-jordan\/18-jpg-29\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/8\/18.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"18.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/8\/18.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/8\/18.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-669414\" class=\"content-area-description single-story post-669414 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\/8\/.544916f7-0462-402e-a9be-f78b5f947d30.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019<\/strong><strong>re fast approaching<\/strong><strong> peak summer, friends<\/strong>, and that\u2019s reflected in an unusually quiet Sunday morning here in Egypt. It\u2019s enough to make us wonder: Should we follow in the footsteps our neighbors on the other side of the Med and just \u2026 take August off? <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yes, it helps that they have more vacation days.<\/strong> It strikes us that it just makes good sense from a business point of view to more overtly embrace a quiet month of August. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(Fast fact: Egyptian workers get slightly less paid time off than many European workers.<\/strong> Employees here get 21 workdays as the baseline \u2014 a figure that rises to 30 for anyone who has been socially insured for a decade or more. Denmark gives everyone five weeks of paid leave \u2014 on top of national holidays \u2014 while Austria hands out 25 days of paid vacation per year and 13 national holidays. The average worker in France gets five weeks of paid time-off plus 11 national holidays. Sure, we have a few more national holidays, but\u2026)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What news we have this morning is good: <\/strong>A draft of the Finance Ministry\u2019s new tax policy framework suggests we\u2019re not going to be hit with new taxes. We appear to have dodged the worst of Donald Trump\u2019s tariff tantrum. And there\u2019s plenty of inbound Chinese investment. We have the full rundown below. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT FIRST- We spent a quiet weekend pondering the health of the US economy <\/strong>(see Big Story Abroad, below), down-in-the-dumps about the resident 18-Year-Old\u2019s imminent departure for college abroad, <strong>and low-key freaking out about AI. <\/strong>Our weekend reading did little to assuage our malaise, though cooling mercury and lots of sunshine helped. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>From our weekend AI reading list: <\/strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/ai\/mckinsey-consulting-firms-ai-strategy-89fbf1be\" style=\"\" rel=\"noopener\">AI is coming for consulting, and McKinsey is freaking out<\/a>, the Wall Street Journal warns us. Smart folks are starting to get really worried not just about the safety of our jobs, but about <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-08-01\/ai-models-are-getting-better-at-winning-not-following-rules\" style=\"\" rel=\"noopener\">whether we can even trust AI not to kill us<\/a>. Per Bloomberg \u201cWould a chatbot kill you if it got the chance? It seems that the answer \u2014 under the right circumstances \u2014 is probably.\u201d <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/7ce8a0c4-f806-44e4-96f5-8cae8772c97c\" style=\"\" rel=\"noopener\">And over in the pages of the FT, novelists are losing it<\/a>, worrying about the future of creativity in a gen AI world.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Palate cleanser: Samuel L. Jackson in a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.threads.com\/@wolfgangbremer\/post\/DMyP38vs9Pg\" style=\"\" rel=\"noopener\">delightfully profane ad<\/a><\/strong> for wind energy player Vattenfall.<\/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- The mercury is cooling significantly starting today<\/strong>, with a high of 34\u00b0C and a low of 25\u00b0C forecast for Cairo, 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>You can expect it to be even cooler in Alexandria<\/strong>, with a high of 32\u00b0C and a low of 24\u00b0C.<\/p><p class=\"tag-border-left\">NEWS TRIGGERS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s the first work day o<\/strong><strong>f<\/strong><strong> August<\/strong> \u2014 here are the key news triggers to keep your eyes on this month:<\/p><ul>\n<li><strong>We\u2019re hoping non-oil private sector activity breaks its four-month streak in the <\/strong><strong>red<\/strong>, with S&amp;P Global set to release its Purchasing Managers Index report for July on Tuesday. Our last reading saw the country\u2019s headline figure drop to 48.8 in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4dfc71cd-9840-4a92-9460-30c83f1ec66d\/non-oil-private-sector-activity-sees-modest-decline-in-june\" style=\"\" rel=\"noopener\">June<\/a> from 49.5 in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/482fb374-7c83-4234-9457-0a92694f6dfc\/non-oil-private-sector-activity-inches-closer-to-the-green-in-may\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/482fb374-7c83-4234-9457-0a92694f6dfc\/non-oil-private-sector-activity-inches-closer-to-the-green-in-may\" style=\"\" rel=\"noopener\">May<\/a>, taking us further below the 50.0 mark that separates growth from contraction.<\/li>\n<li><strong>The business community and policymakers will have their eyes on July inflation <\/strong><strong>figures<\/strong>, which are expected to be released at the end of this week or by Sunday at the latest. Last time round, annual headline urban inflation <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0040931e-a260-4849-b4fb-ccac7de3294a\/%253cmark%253einflation%253c%2Fmark%253e-unexpectedly-falls-to-14.9%2525-in-june\" style=\"\" rel=\"noopener\">unexpectedly fell 1.9 percentage points<\/a> to 14.9% in June, ending an upward trend that extended over three consecutive months. However, energy and tobacco price increases could push up the headline figure this time round.<\/li>\n<li><strong>The Finance Ministry will<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid029vc3qFj99oNDtfwF9L9jjC6PQE39dQrCuDgQqYJHSYgtun64c7ZakExHynaCUfYDl\" style=\"\" rel=\"noopener\"><\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid029vc3qFj99oNDtfwF9L9jjC6PQE39dQrCuDgQqYJHSYgtun64c7ZakExHynaCUfYDl\" style=\"\" rel=\"noopener\">begin disbursing<\/a><\/strong><strong> overdue export subsidies totaling EGP <\/strong><strong>5 bn to some 2k exporters this Thursday<\/strong> under the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d66310de-d47c-4d09-a24c-ca138a04a92e\/another-decision-to-sweeten-the-pot-for-foreign-energy-players\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d66310de-d47c-4d09-a24c-ca138a04a92e\/another-decision-to-sweeten-the-pot-for-foreign-energy-players\" style=\"\" rel=\"noopener\">revamped export subsidy program<\/a> that will see exporters receive 50% of their overdue dues in cash over four years, with the rest offset against liabilities. <\/li>\n<li><strong>The central bank\u2019s Monetary Policy Committee will meet on 28 August to decide <\/strong><strong>whether to cut interest rates. <\/strong>The committee <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/17ae7656-42a3-4c38-8b5a-476d90cdb229\/cbe-holds-interest-rates-steady\" style=\"\" rel=\"noopener\">voted to leave interest rates unchanged<\/a> in its last meeting, which has only emboldened forecasts that the bank will cut rates at its August meeting \u2014 with some expecting a cut of up to 200 bps.<\/li>\n<\/ul><p class=\"tag-border-left\">WATCH THIS SPACE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>#1- Could Egypt ban TikTok?<\/strong> TikTok has three months to align its content moderation policies with Egypt\u2019s social and moral values or else the House will look into banning the app, <a target=\"_blank\" href=\"https:\/\/english.ahram.org.eg\/NewsContentP\/1\/550624\/Egypt\/TikTok-given-threemonth-deadline-to-align-with-Egy.aspx\" style=\"\" rel=\"noopener\">Ahram Online<\/a> reports, citing comments from Rep. Ahmed Badawi after a meeting between the app\u2019s Egypt and North Africa CEO, the NTRA, and the House Telecoms Committee. The ultimatum comes amid public calls to ban the platform and a string of arrests targeting local TikTokers over content deemed offensive or misleading. Badawi said introducing stricter regulation \u2014 not bans \u2014 is the way forward.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#2- Egypt, Jordan get a natural gas boost as a new floating regasification plant <\/strong><strong>docks:<\/strong> The Energos Force floating storage and regasification unit (FSRU) has slid into its berth at Jordan\u2019s Aqaba Port and is set to begin feeding into the Arab Gas Pipeline \u201cbased on operational needs and grid load,\u201d the Oil Ministry said in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid02eB5wnpaGqm3T46RVJfsF3qNbRinU8LHjVXqunSaUW1nwLtnHgmXkiCaWBB9Rt5vRl\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The FSRU will provide an extra 750 mcf\/d of regasification capacity that can be shared between Egypt and Jordan in the event of emergencies.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve been expanding natural gas capacity all summer:<\/strong> Egypt has already <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\">deployed four<\/a><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\">FSRUs<\/a> this season with a combined capacity of 2.7 bcf\/d. Our expanded regasification capacity will help accommodate the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d9829bc3-ad90-4a63-ba4e-5f7e8b78ce58\/gov%25e2%2580%2599t-locks-in-lng-supply-through-2026,-plans-to-boost-domestic-production-for-export\" style=\"\" rel=\"noopener\">incoming LNG shipments<\/a>.<\/p><p class=\"tag-border-left\">IPO WATCH- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>National Printing\u2019s public offering was 23.6x oversubscribed<\/strong> following the close of the subscription period on Thursday. The company priced its EGX IPO at EGP 21.25 per share, while the fair value was set at EGP 28.27 per share.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company is floating a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9ff5bce4-2295-4e3f-88c4-7cab0ee9eb75\/%253cmark%253enational-printing%253c%2Fmark%253e-is-taking-a-10%2525-stake-to-market\" style=\"\" rel=\"noopener\">10% stake<\/a><\/strong> via a secondary two-tranche offering that is expected to raise some EGP 449.9 mn in proceeds, implying a market cap of EGP 4.5 bn at listing. The offering included a 5% private placement tranche fully allocated to anchor investor Omran Mohamed Al Omran of Saudi Arabia, and a 5% public tranche offered to retail and individual investors in the local market.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Our friends at <strong>EFG Hermes Investment Banking<\/strong> are the sole global coordinator for the combined offering, while <strong>Zulficar and Partners<\/strong> is serving as counsel.<\/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 cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p class=\"tag-border-left\">HAPPENING TODAY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- It\u2019s day one<\/strong><strong> of the Egyptians Abroad Conference at the Triumph Hotel in New Cairo. <\/strong>The two-day Foreign Affairs Ministry-organized event will act as a \u201cnational platform for direct dialogue and the exchange of ideas and proposals with Egyptians living abroad,\u201d according to a Foreign Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid0tfZuKmuy18VTdznKsBnwoThxhgy1GuQH5K1EGK3tm5o6CRLDKYAtFZ1PfCKRQUh1l\" style=\"\" rel=\"noopener\">statemen<\/a><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid0tfZuKmuy18VTdznKsBnwoThxhgy1GuQH5K1EGK3tm5o6CRLDKYAtFZ1PfCKRQUh1l\" style=\"\" rel=\"noopener\">t<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Attention aspi<\/strong><strong>ring university students, parents, and education professionals, Edugate <\/strong><strong>is kicking off its <\/strong><strong><a target=\"_blank\" href=\"https:\/\/reg.edugate-eg.com\/events\/event?id=36\" style=\"\" rel=\"noopener\">annual fair<\/a><\/strong> at the Royal Maxim Palace Kempinski Hotel in New Cairo. The three-day event will host universities from Egypt and across the world, in addition to scholarship providers, education financing companies, training institutes, and more. <\/p><p class=\"tag-border-left\">HAPPENING <strong>TOMORROW<\/strong>-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>Voters in Egypt <\/strong><strong>will<\/strong><strong> begin heading to the polls tomorrow for the senate elections<\/strong>, following the close yesterday of polling stations for Egyptians living abroad. Results will be announced on 12 August, with successful candidates elected to serve a legislative term from 2025 until 2030.<\/p><p class=\"tag-border-left\">DATA POINTS- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#1- Egyptian demand fo<\/strong><strong>r<\/strong><strong> gold bar<\/strong><strong>s and coins dropped 23% y-o-y in 2Q 2025 <\/strong>to hit 5.9 tons, according to data from the <a target=\"_blank\" href=\"https:\/\/www.gold.org\/goldhub\/research\/gold-demand-trends\/gold-demand-trends-q2-2025\" style=\"\" rel=\"noopener\">World Go<\/a><a target=\"_blank\" href=\"https:\/\/www.gold.org\/goldhub\/research\/gold-demand-trends\/gold-demand-trends-q2-2025\" style=\"\" rel=\"noopener\">ld Counc<\/a><a target=\"_blank\" href=\"https:\/\/www.gold.org\/goldhub\/research\/gold-demand-trends\/gold-demand-trends-q2-2025\" style=\"\" rel=\"noopener\">il<\/a>. The drop in gold purchases was the result of \u201cprofit taking [emerging], particularly in the latter part of the quarter as the gold price failed to breach new record highs,\u201d according to the council. Demand for gold jewelry fell 17% y-o-y to 5.7 tons over the same period.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2<\/strong><strong>-<\/strong><strong> Net FDI inflo<\/strong><strong>ws from<\/strong><strong> FY 2024-25 a<\/strong><strong>re expected to come at USD 10-11 bn once <\/strong><strong>investments for the 12-month period are tallied up<\/strong>, General Authority for Investment and Freezones CEO Hossam Heiba told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2025\/07\/30\/%D9%87%D9%8A%D8%A8%D8%A9-%D9%84%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D9%86%D8%AA%D9%88%D9%82%D8%B9-11-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A8%D9%85%D8%B5%D8%B1-%D8%A8%D9%86%D9%87%D8%A7%D9%8A%D8%A9-20242025\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. Inflows came in at <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/102f07d6-2794-4f32-ae74-c9b8cc63e827\/belated-exporter-subsidy-payouts-begin-next-week\" style=\"\" rel=\"noopener\">U<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/102f07d6-2794-4f32-ae74-c9b8cc63e827\/belated-exporter-subsidy-payouts-begin-next-week\" style=\"\" rel=\"noopener\">SD 9 bn<\/a> during the first half of the fiscal year.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The y-o-y comparison is a little skewed however<\/strong>, given the USD 35 bn Ras El Hekma agreement that pushed FDI flows in the fiscal year 2023-2024 to USD 46.6 bn. Looking ahead, the country is targeting <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/067ba81c-e766-415f-b4fd-411d7fd49186\/a-look-into-the-government%25e2%2580%2599s-economic-targets-for-the-next-four-fiscal-years\" style=\"\" rel=\"noopener\">USD 42 bn<\/a> in net FDI during the current fiscal year, with plans to boost that figure to USD 55 bn in FY 2028-2029.<\/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>It\u2019s finally August \u2014 aka Tariff Month \u2014 and US President Donald Trump has published <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.whitehouse.gov\/presidential-actions\/2025\/07\/further-modifying-the-reciprocal-tariff-rates\/\" style=\"\" rel=\"noopener\">a<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.whitehouse.gov\/presidential-actions\/2025\/07\/further-modifying-the-reciprocal-tariff-rates\/\" style=\"\" rel=\"noopener\">list of new tariffs<\/a><\/strong> set to be implemented next Friday. Trading partners are sorted into three groups depending on trade surplus, with most of the Gulf falling to the first group hit by the minimum 10%.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Among the highest tariffs:<\/strong> Canada will be slapped with a 35% tariff, higher than the earlier announced 25%, as diplomatic friction between the country continues and after it said it would recognize a Palestinian state; Switzerland was slapped with a 39% tariff; and India will be subject to a 25%.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story is everywhere in the foreign press:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/live-blog\/2025-07-31\/us-tariff-deadline?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/trump-sets-10-41-reciprocal-tariffs-dozens-countries-exports-2025-07-31\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/be3ac299-46a3-4362-a725-bb3d8128ddc9\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/08\/01\/trump-rejigs-tariff-rates-ahead-of-deadline-levies-40percent-duties-on-all-transshipped-goods.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2025\/07\/31\/us\/trump-news\" 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\"><strong>ALSO- Trump shoots the messenger: <\/strong>Worse-than-expected job growth numbers prompted the president to <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/08\/01\/trump-erika-mcentarfer-jobs-report-fired.html\" style=\"\" rel=\"noopener\">fire the Bureau of Labor Statistics commissioner<\/a> Erika McEntarfer, a Biden appointee \u201cfaked the Jobs Numbers before the Election to try and boost Kamala\u2019s [Harris\u2019] chances of Victory,\u201c he claimed.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Fed is also closer to danger: <\/strong>The decision coincided with an opening for Trump to target the Fed by appointing one more governor, after <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/litigation\/trump-fires-us-labor-official-over-data-gets-earlier-than-expected-chance-2025-08-02\/\" style=\"\" rel=\"noopener\">governor Adriana Kugler resigned on Friday<\/a>. Trump had <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/trump-powell-interest-rates-federal-reserve-fed-88fe11c20c3074bbd1445a69bbdc623e\" style=\"\" rel=\"noopener\">lashed out at chairman Jerome Powell<\/a> for not capitulating to interest rate cuts demands, calling him \u201cTOO ANGRY, TOO STUPID, &amp; TOO POLITICAL,\u201d and calling on the Fed\u2019s board to assume control of the independent institution.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Markets don\u2019t like the volatility: <\/strong>Dow Jones closed down 1.2% on Friday, while the S&amp;P declined 1.6% and the Nasdaq Composite shed 2.2%.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO GETTING ATTENTION- Apple and Amazon published their earnings on Thursday:<\/strong><\/p><ul>\n<li><strong>Apple benefited from a boost in iPhone sales as customers rushed to lock in pre-tariff prices<\/strong>, with overall sales rising 10% y-o-y. CEO Tim Cook said the company will be hit with USD 1.1 bn in costs from the tariffs in 3Q 2025 alone. (<a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/earnings\/apple-earnings-q3-2025-aapl-stock-6ddd867b?mod=hp_lead_pos2\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/apple-revenue-forecast-beats-estimates-tariff-costs-projected-11-billion-2025-07-31\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<li><strong>Amazon shares fell more than 7% after hours on Friday <\/strong>as its cloud computing unit failed to meet earnings expectations, with net income margins contracting, after rivals Microsoft and Alphabet both reported strong performance at their cloud units. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/retail-consumer\/amazon-cloud-computing-results-fail-impress-shares-dive-2025-07-31\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/li>\n<\/ul>\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=\"669416 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=\"669416\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/08\/03\/669416\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-669416\" class=\"content-area-description single-story post-669416 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>\n<div class=\"grouped-tags\">\n<p><span>Whether you&rsquo;re diving into turquoise waters, catching the golden hour from your terrace, or just letting time drift by &mdash; Somabay is summer, redefined. Your ultimate escape, every single time.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"669417\" 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=\"669417\">\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\">Tax<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/08\/03\/no-new-taxes-are-planned-in-overhaul-expected-to-kick-off-in-4q\/\">\r\n                            No new taxes are planned in tax system overhaul expected to kick off in 4Q                        <\/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\/08\/03\/no-new-taxes-are-planned-in-overhaul-expected-to-kick-off-in-4q\/\" 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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Officials have long said the framework would offer business a clear roadmap for future policies and set guidelines for the modernization of the tax system.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In principle, that\u2019s smart policy: <\/strong>Finance Minister Ahmed Kouchouk has noted in the past that certainty of tax policy is among the keys to unlocking fresh investment, both foreign and domestic. <\/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>No fresh taxes on the horizon: <\/strong>The current draft makes clear the Madbouly government is not looking to impose new taxes in the short term, leaving unchanged the current 22.5% corporate income tax (a figure it describes as \u201ccompetitive\u201d relative to other tax rates in our region), while the income tax on individuals will still top out at 27.5%. The value-added tax will remain unchanged at 14% outside of a list of goods and services taxed at a lower rate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Among the Finance Ministry\u2019s top priorities: <\/strong>Widening the tax base and creating a more efficient tax system. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We could see a 15% minimum corporate tax \u2014 in line with global calls: <\/strong>The document also indicates the Finance Ministry is actively reviewing its stance the OECD-G20 Pillar Two rule, which aims to set the global minimum corporate tax rate at 15% for multinational companies, regardless of where they operate. The document stops short a final decision, but notes that imposing a 15% minimum corporate tax would curb the efficiency of existing tax exemptions granted to some foreign companies in Egypt. Either way, the 15% tax would likely need approval from the House of Representatives.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No new tax breaks or exemptions: <\/strong>Introducing new systems and expanding tax incentives risks distorting markets and driving up tax compliance costs, the document notes \u2014 so don\u2019t expect much in this vein. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ministry wants to see tax revenues grow an average of 38% each year in the <\/strong><strong>medium-term. <\/strong>Finance Minister Ahmed Kouchouk recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/88eebc1f-0de7-476f-84da-4165ef4a224d\/%2525d9%252583%2525d8%2525ac%2525d9%252588%2525d9%252583-%2525d9%25258a%2525d8%2525b3%2525d8%2525aa%2525d8%2525b9%2525d8%2525b1%2525d8%2525b6-%2525d8%2525a7%2525d9%252584%2525d8%2525a3%2525d8%2525af%2525d8%2525a7%2525d8%2525a1-%2525d8%2525a7%2525d9%252584%2525d8%2525b6%2525d8%2525b1%2525d9%25258a%2525d8%2525a8%2525d9%25258a-%2525d8%2525a7%2525d9%252584%2525d9%252582%2525d9%252588%2525d9%25258a-%2525d9%252588%2525d8%2525a7%2525d9%252584%2525d8%2525aa%2525d9%252582%2525d8%2525af%2525d9%252585-%2525d8%2525a7%2525d9%252584%2525d9%252585%2525d8%2525ad%2525d8%2525b1%2525d8%2525b2-%2525d9%252581%2525d9%25258a-%2525d8%2525ae%2525d9%252581%2525d8%2525b6-%2525d8%2525a7%2525d9%252584%2525d8%2525af%2525d9%25258a%2525d9%252586-%2525d8%2525a7%2525d9%252584%2525d8%2525b9%2525d8%2525a7%2525d9%252585\" style=\"\" rel=\"noopener\">said<\/a> that tax revenues grew 35% y-o-y during the fiscal year 2024-2025 \u2014 without tax hikes or new levies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A nod to the challenges businesses face: <\/strong>High inflation and interest rates pose key challenges to business and, by extension, the tax system by making investment more expensive.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CONTEXT- Inflation is on a declining path-<\/strong> Deutsche Bank <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a462a981-d025-4b24-9788-40562feac75c\/structural-reforms-fuelling-growth-in-egypt,-deutsche-bank-says\" style=\"\" rel=\"noopener\">sees<\/a> headline inflation here averaging 15-16% in 2025 before declining to 10% in 2026. The IMF <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/786d4667-139a-4b10-982f-e98deca20819\/key-takeaways-from-the%253cmark%253e-imf%253c%2Fmark%253e%25e2%2580%2599s-fourth-loan-review\" style=\"\" rel=\"noopener\">expects<\/a> inflation to reach 15.3% on average during FY 2025-2026, before cooling down to 10.7% on average in the upcoming fiscal year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So, too, are interest rates:<\/strong> Goldman Sachs <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/71455e45-b085-4721-9e80-d1a2cfee037c\/split-views:%253cmark%253e-goldman%253c%2Fmark%253e-vs.-deutsche-bank-on-monetary-easing-path\" style=\"\" rel=\"noopener\">expects<\/a> the CBE to cut interest rates by 400 bps in 4Q this year. Deutsche Bank has pencilled in a total of 725 bps of rate cuts in 2025. Both see the policy rate touching 20% by year\u2019s end. The CBE <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/17ae7656-42a3-4c38-8b5a-476d90cdb229\/cbe-holds%253cmark%253e-interest%253c%2Fmark%253e%253cmark%253e-rates%253c%2Fmark%253e-steady\" style=\"\" rel=\"noopener\">left rates unchanged<\/a> at last month\u2019s monetary policy meeting. The bank will next review rates at the end of this month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New strategy to streamline tax system, boost transparency:<\/strong> The document details strategic reforms to simplify tax filings, scrap estimated assessments and filings without documentation, and adopt a new rating system for taxpayers based on their compliance levels.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Businesses with employees who are being squeezed by inflation could get a break: <\/strong>The ministry will regularly raising the ceiling on the zero-tax personal income bracket to ensure fairness. The bracket will be adjusted semi-annually in times of high inflation and annually under normal conditions, aiming to curb the tax burden on lower-income households. The plan would see higher income brackets changed in parallel (without changing their tax rates).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The government is <\/strong><strong>looking <\/strong><strong>to secure an additional EGP 195.2 bn in tax <\/strong><strong>revenues<\/strong> \u2014 equivalent to 0.98% of GDP \u2014 <strong>in FY 2025-2026<\/strong> through a bundle of tax reforms, the IMF <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7fe1f05-c4ce-4fe8-8fac-edb4ffb37f9c\/reforms-to-nearly-double-tax-revenues-in-fy-2025-2026\" style=\"\" rel=\"noopener\">said<\/a> last month. To put the target in perspective, the government expects to generate some EGP 200 bn in tax revenues this fiscal year, meaning the reforms are expected to nearly double the pool. These reforms \u2014 some of which have already been rolled out \u2014 include amendments to the VAT Law.<\/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\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"669419\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv 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             <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/08\/03\/how-will-the-wave-of-new-us-tariffs-hit-egypt\/\">\r\n                            How will the wave of new US tariffs hit Egypt?                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/08\/03\/how-will-the-wave-of-new-us-tariffs-hit-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n    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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/08\/03\/how-will-the-wave-of-new-us-tariffs-hit-egypt\/14-jpg-24\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/8\/14.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"14.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/8\/14.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/8\/14.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-669420\" class=\"content-area-description single-story post-669420 post type-post status-publish format-standard has-post-thumbnail hentry category-trade tag-enterpriseam tag-tax tag-trade tag-us 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\/8\/.802f0497-b557-4f81-9ba6-cb9c085ef58d.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egyptian exports to the US will continue to enjoy the baseline 10% tariff, remaining <\/strong><strong>unaffected by the list of new tariffs<\/strong> unveiled by US President Donald Trump last week, a government source told EnterpriseAM.<\/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>BACKGROUND-<\/strong> Trump last week <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/57c439ab-3744-4a50-8023-c4331e8dc8db\/egp-extends-gains,-hits-nine-month-high-against-usd\" style=\"\" rel=\"noopener\">published a list of new tariffs<\/a> under which trade partners were grouped into three tiers based on their trade balance and bilateral agreements with the US, with tariffs ranging from 10-40%. Canada, India, and Switzerland were among the hardest-hit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And what about exports under the QIZ agreement? <\/strong>A second source told us that Qualifying Industrial Zone (QIZ) exports are also expected to retain preferential access \u2014 but the source noted that US officials have yet to offer confirmation here. A team of officials has been holding talks their US counterparts to clarify the treatment of exports of products under the agreement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong><a target=\"_blank\" href=\"http:\/\/www.qizegypt.gov.eg\/Page\/Protocol\" style=\"\" rel=\"noopener\">Egypt\u2019s QIZ pact<\/a> with the US and Israel, which came into effect in 2005, allows goods made in designated Egyptian zones to enter the US without duties or quotas provided they include around 10.5% Israeli content. The agreement \u2014 which has particularly helped boost Egypt\u2019s textile and garment exports to the US \u2014 was set up by the US to deepen regional cooperation and was modeled on an earlier three-way agreement with Jordan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How did the first wave of tariffs impact us? <\/strong>Exports to the US \u2014 Egypt\u2019s top market for garments \u2014 surged 16% y-o-y in 1H 2025 to USD 622 mn, according to data from the Apparel Export Council. The sector\u2019s total exports jumped 25% to USD 1.608 bn during the same period. The council expects full-year exports to reach a record USD 3.7 bn, with annual growth rates of 25-30% in the pipeline.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What about other Egyptian exports?<\/strong> Around 55% of Egypt\u2019s exports to the US are garments. While Egypt\u2019s overall trade volume with the US remains relatively small, a senior government source told us the country could still feel knock-on effects of the broader tariff changes \u2014 including potential price increases or new duties imposed by affected trade partners.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Efforts to safeguard the economy:<\/strong> Egypt is currently reviewing its own tariff structure to better support local industry and protect the market from imported inflation, one of the sources said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"669422\" 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=\"669422\">\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\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/08\/03\/dongfeng-sn-automotive-introduce-nine-new-models-to-the-market\/\">\r\n                            Dongfeng introduces nine new models to the Egyptian market under partnership with SN Automotive                        <\/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\/08\/03\/dongfeng-sn-automotive-introduce-nine-new-models-to-the-market\/\" 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 automaker\u2019s expansion in the Egyptian market is through a partnership with SN Automotive that \u201copens the door to a new era of quality and variety, perfectly aligned with the aspirations of the Egyptian customer,\u201d said <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/020cc6ca-0bf4-486c-bc9a-51a4b7eddc90\/al-safy-el-nasr-alliance-names-yehia-a.-halim-as%253cmark%253e-sn-automotive%253c%2Fmark%253e-ceo\" style=\"\" rel=\"noopener\">SN Automotive CEO Yehia A. Halim<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dongfeng has ambitions is using Egypt as its African hub:<\/strong> Africa Regional HQ General Manager Liao Qingli said that \u201cWe\u2019ve chosen Egypt to be a central hub for assembly and spare parts for the entire African continent.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Like other Chinese auto players expanding in Egypt, Dongfeng is introducing a mix of <\/strong><strong>electric, hybrid, and traditional gas-powered vehicles<\/strong>, which they say helps appeal to a \u201cwide range of Egyptian consumer needs.\u201d The offerings also vary in terms of prices, with models ranging from EGP 770k all the way to EGP 6.0 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One particular model cau<\/strong><strong>ght our attention \u2014 and could significantly shake up the local <\/strong><strong>EV market. <\/strong>Included in the list is its base Box EV model with a budget friendly price tag of just EGP 770k, likely making it one of the cheapest available EVs on the market. The comparatively high upfront costs of of new EVs has long put off lower-middle-income consumers, but the addition of the city-friendly Box EV could persuade more to go electric.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company is planning to launch 25 sales and service locations<\/strong> across the country in its first year, said SN Automotive Sales and Network Development Director Tareq Mostafa Hussein<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dongfeng is no stranger to Egypt<\/strong>, having already sold its Aeolus E70 Pro through Misr Helwan Automotive and for years had talked about locally assembling EVs with El Nasr before the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f0f9e19-5e30-400f-8dba-6213afd8fb58\" style=\"\" rel=\"noopener\">agreement fell apart in 2021<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- SN Automotive?<\/strong> State-owned El Nasr Automotive and the privately held Al Safy Group <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16483933-38e4-4434-a414-96ba8aa8f619\/el-nasr-auto-and-al-safy-group-form-auto-assembly-jv-with-usd-40-mn-in-initial-investments\" style=\"\" rel=\"noopener\">set up the JV<\/a> in November of last year to assemble global car brands locally to sell in Egypt and export to other North African nations. Al Safy \u2014 which owns a 76% stake \u2014 oversees the entire supply chain, from importing parts and securing local components to distributing cars, managing dealerships, and providing after-sales services. El Nasr \u2014 which owns the remaining 24% stake \u2014 is responsible for assembly operations.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dongfeng\/\">Dongfeng<\/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=\"669424\" 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=\"669424\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/08\/03\/construction-kicks-off-on-two-chinese-projects-worth-usd-55-in-sokhna\/\">\r\n                            Two Chinese projects worth USD 55 mn kick off construction in Sokhna Industrial Zone                        <\/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 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2025\/08\/03\/construction-kicks-off-on-two-chinese-projects-worth-usd-55-in-sokhna\/&title=Construction kicks off on two Chinese projects worth USD 55 in Sokhna\">\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=Construction+kicks+off+on+two+Chinese+projects+worth+USD+55+in+Sokhna+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F08%2F03%2Fconstruction-kicks-off-on-two-chinese-projects-worth-usd-55-in-sokhna%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\/08\/03\/construction-kicks-off-on-two-chinese-projects-worth-usd-55-in-sokhna\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/8\/12.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"669425\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/08\/03\/construction-kicks-off-on-two-chinese-projects-worth-usd-55-in-sokhna\/12-jpg-62\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/8\/12.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"12.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/8\/12.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/8\/12.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-669424\" class=\"content-area-description single-story post-669424 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam tag-investment-watch tag-manufacturing tag-suez-canal-economic-zone tag-textiles 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\/8\/.044992d0-2933-479e-a238-5004137edca0.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Two new Chinese projects <\/strong><strong>break ground in Sokhna:<\/strong> China\u2019s Bridge Textile International and F-Tex International kicked off construction on two textile projects, with combined investments exceeding USD 55 mn, in the China-Egypt Teda industrial zone within the Sokhna Industrial Zone, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/19wwtTyL2r\/\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bridge Textile will develop an integrated textile complex on a 40k sqm plot, with <\/strong><strong>investments exceeding USD 25 mn.<\/strong> The complex will feature 18 spinning lines, over 100 fabric production lines, and six printing and dyeing lines, with a planned annual output of 25 mn meters of high-quality fabric and 105k tons of fiber. The project is expected to create 500 direct and 1k indirect jobs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expected returns: <\/strong>The facility is projected to generate USD 120 mn in annual sales, of which USD 100 mn will be in foreign currency. Around 80% of production will be exported to Europe and the US.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>F-Tex International will develop a USD 30 mn production plant for Draw Textured Yarn <\/strong><strong>(DTY) polyester fibers on a 55k sqm site.<\/strong> The plant will have an annual production capacity of 130k tons and is expected to generate USD 150 mn in annual export revenues.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The DTY facility\u2019s timeline:<\/strong> The facility is expected to begin trial operations within a year and become fully operational by the end of 2027, creating around 400 jobs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Discussions to allocate an additional 10 sq km of industrial land to Teda took place <\/strong><strong>during a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15556426-93db-4e96-9022-abefd47a8f43\/sczone-kicks-off-china-roadshow-to-attract-investments-in-evs,-textiles-and-ports\" style=\"\" rel=\"noopener\">recent investment roadshow<\/a><\/strong><strong> in China<\/strong>, where SCZone officials met with Chinese investors to promote opportunities in the zone, SCZone head Walid Gamal El Din said. The move comes as the developer nears completion of earlier development phases \u2014 the most recent of which spans <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/773fda5c-335b-4f1d-9c0f-ea7e8b80e296\/%253cmark%253eteda%253c%2Fmark%253e-egypt-to-invest-usd-100-mn-to-develop-infrastructure-on-a-plot-in-the-sokhna-industrial-zone\" style=\"\" rel=\"noopener\">2.9 sq km<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ALSO ON THE INVESTMENT FRONT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emaar<\/strong><strong> opens the doors to its EGP 9 bn North Coast resort:<\/strong> Emaar Misr inaugurated its EGP 9 bn Palace Beach Resort Marassi in the North Coast\u2019s Marassi development, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1299794298857654?ref=embed_post\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. Spanning 140k sqm, the resort includes 87 rooms, 31 luxury villas, and facilities including a spa, beachfront restaurant, and gym. The project marks Marassi\u2019s 11th hotel.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/textiles\/\">textiles<\/a>\n                <!-- <span 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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"669428\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/08\/03\/where-the-egp-100-bn-subsidized-loan-program-for-hospitality-players\/1874-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1874.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1874.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1874.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1874.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-669427\" class=\"content-area-description single-story post-669427 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-ashry-steel tag-cement tag-debt tag-enterpriseam tag-logistics tag-manufacturing tag-maritime tag-suez-canal tag-suez-canal-authority tag-tourism tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/8\/.55e01b93-13d0-4b8a-9a0a-17e655a1f50f.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">FINANCE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Hospitality subsidize<\/strong><strong>d loan program 2.0 on hold:<\/strong> The Finance Ministry has stalled its sign-off on a new EGP 100 bn subsidized loan initiative for the tourism sector until it completes financial and technical assessments, <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=02082025&amp;id=350580f9-0271-412c-a0f9-76a183b3fc10\" style=\"\" rel=\"noopener\">Al Shorouk<\/a> quotes Tourism Minister Sherif Fathy as having said. The initiative is designed to expand Egypt\u2019s hotel capacity to help meet the state\u2019s 30 mn tourist target by 2030.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The initiative would be the second iteration of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bea8025f-3500-43b2-a52b-7fb163b6dca1\/hospitality-players%25e2%2580%2599-egp-50-bn%253cmark%253e-subsidized-loan%253c%2Fmark%253e-program-goes-live.-plus:-news-from-accor,-air-cairo,-somabay\" style=\"\" rel=\"noopener\">EGP 50 bn program<\/a> the Madbouly government launched last year, offering subsidized loans to tourism players at a 12% interest rate. Fathy had previously <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a5fff048-debb-4e59-a806-d83db4cdf13a\/a-second,-larger%253cmark%253e-subsidized-loan-program%253c%2Fmark%253e-for-hospitality-players%3F\" style=\"\" rel=\"noopener\">told<\/a> Asharq Business that the second iteration of the program would amount to EGP 200 bn.<\/p><p class=\"tag-border-left\">M&amp;A- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As<\/strong><strong>hry Steel<\/strong><strong> submitt<\/strong><strong>ed a bid for 100% of cement producer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/bmicement.com\/\" style=\"\" rel=\"noopener\">Building Materials Industry<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/bmicement.com\/\" style=\"\" rel=\"noopener\">Company<\/a><\/strong>, challenging a competing bid from Spain\u2019s ITI Inversiones Industriales, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2025\/07\/31\/1904989\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing unnamed sources. ITI\u2019s bid, which comes as part of its expansion plan into North Africa, has already <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCompetitionAuthorityECA\/posts\/pfbid0CnVp62zGJBrQqWNyh3fsZXps2fXNSPTQKoZRN1NgXphZ1gdpGRMJd5FvRtUW7cxLl\" style=\"\" rel=\"noopener\">received the greenlit<\/a> from the Egyptian Competition Authority.<\/p><p class=\"tag-border-left\">LOGISTICS- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Suez Can<\/strong><strong>al Authority is extending its 15% rebate for 130k+ ton capacity container <\/strong><strong>ships passing through the Suez Canal until the end of year<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/8\/8.pdf\" style=\"\" rel=\"noopener\">circular (pdf)<\/a>. The decision applies to all relevant vessels regardless of direction or whether the ships are loaded or not. <\/p><p class=\"tag-border-left\">TRANSPORT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alexandria to rec<\/strong><strong>eive 120 natgas buses from El Nasr:<\/strong> The Public Enterprise Ministry and Alexandria Governorate signed a cooperation protocol to supply the governorate\u2019s public transit authority with 120 natural gas-powered buses manufactured by state-owned <a target=\"_blank\" href=\"https:\/\/nasr.eg\/\" style=\"\" rel=\"noopener\">El Nasr Automotive<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/%D9%81%D9%8A-%D8%A5%D8%B7%D8%A7%D8%B1-%D8%AF%D8%B9%D9%85-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D8%A9-%D8%A7%D9%84%D9%88%D8%B7%D9%86%D9%8A%D8%A9-%D9%88%D8%A7%D9%84%D8%AA%D8%AD%D9%88%D9%84-%D8%A5%D9%84%D9%89-%D8%A7%D9%84%D9%86%D9%82%D9%84-%D8%A7%D9%84%D8%A3%D8%AE%D8%B6%D8%B1%D9%88%D8%B2%D9%8A%D8%B1-%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%A3%D8%B9%D9%85%D8%A7%D9%84-%D8%A7%D9%84%D8%B9%D8%A7%D9%85-%D9%88%D9%85%D8%AD%D8%A7\/1298515342318883\/\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p><p class=\"tag-border-left\">DEBT- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Draschem<\/strong><strong> for Specialized Chemicals\u2019 <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/56ae4329-b447-4bbd-b1b0-ae90c9330db6\/sidpec-to-set-up-a-usd-159-mn-sodium-cyanide-factory-%2B-dp-world-to-look-into-setting-up-a-freezone-in-the-new-capital\" style=\"\" rel=\"noopener\">sodium cyanide production plant<\/a><\/strong><strong> is on course to <\/strong><strong>secure USD 120 mn from a local banking syndicate<\/strong>, which would help fund 70% of the total USD 180 mn project, <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/financing-and-investment\/92328\/%D8%A8%D9%86%D9%88%D9%83-%D8%AA%D9%82%D8%B1%D8%B6-%D8%AF%D8%B1%D8%A7%D8%B3%D9%83%D9%8A%D9%85-%D9%84%D9%84%D9%83%D9%8A%D9%85%D8%A7%D9%88%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-120-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1\/?utm_source=facebook&amp;utm_medium=social&amp;utm_campaign=asharq_business_egy_fb\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing an unnamed official from the company. The syndicate includes Banque Misr, National Bank of Egypt, Arab African International Bank, CIB.<\/p><p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>SOUND SMART- <\/strong>Sodium cyanide is the solution commonly used for gold extraction from low-grade ore, and can be used to extract other metals, including copper, zinc, and silver.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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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=\"669429\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/08\/03\/mena-pe-activity-cools-down-in-1h-2025-but-its-mostly-good-news-amid-signs-of-a-maturing-market-magnitt\/\">\r\n                            MENA PE activity cools down in 1H 2025 \u2014 but it\u2019s mostly good news amid signs of a maturing market -Magnitt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div 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              <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1704.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"669430\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/08\/03\/mena-pe-activity-cools-down-in-1h-2025-but-its-mostly-good-news-amid-signs-of-a-maturing-market-magnitt\/1704-jpg-26\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1704.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1704.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1704.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1704.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-669429\" class=\"content-area-description single-story post-669429 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-gcc tag-planet-finance tag-private-equity tag-saudi-arabia 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\/8\/.02d67a9e-ae44-4df2-bef8-839fe875b13a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Private equity dealm<\/strong><strong>aking in the region took a dip in 1H 2025 as investors <\/strong><strong>recalibrated to focus on bigger transactions with strong fundamentals. <\/strong>Some 29 private equity transactions worth USD 2.9 bn were recorded in the first half of the year, marking a 38% y-o-y decline by count and an 11% drop in value, according to Magnitt\u2019s 1H MENA PE report. This is the third consecutive half-year of cooling PE activity in the region. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>General partners are adopting a more risk-averse stance,<\/strong> pivoting toward fewer, higher conviction transactions on scale-ready platforms with strong fundamentals, according to the report. This explains why the y-o-y drop in PE transaction value is less significant than the decline in volume. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PE transactions in the region skewed larger<\/strong>, with the two biggest size brackets hitting five-year highs in 1H. Transactions in the USD 500 mn to 1 bn range accounted for 29% of total volume, and 42% of total value, while those over USD 1 bn comprised 14% of the count and 36% of the overall value. Smaller buyouts (under USD 50 mn) fell to a record low of 14%, while the USD 100-500 mn bracket nearly doubled y-o-y to 29% of total PE activity by count, and 18% by value. The report does not provide comparative figures for 1H 2024, only the whole of 2024. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The slowdown reflects a strategic recalibration in the region\u2019s PE market rather than a <\/strong><strong>retreat. <\/strong>\u201cThe MENA region\u2019s PE recalibration is being led by scale-ready SMEs and high-conviction strategies, not withdrawal. The growing dominance of USD 100 mn+ transactions signals a maturing landscape ready to absorb larger pools of capital,\u201d Magnitt Research Department Manager Farah El Nahlawi said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/7\/1820.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> accompanying the report. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Growth capital and buyout transactions were nearly evenly split in 1H<\/strong>, with growth transactions slipping to 52% of total activity as buyouts gained ground despite tighter credit markets, El Nahlawi told EnterpriseAM. The trend points to investors favoring plays where they can take a more hands-on role in operations and actively drive value creation, aiming for exits via trade sales or strategic mergers, she added. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART-<\/strong> Growth transactions involve minority investments in established but expanding companies, providing capital to fuel new markets, products, or acquisitions without taking control. Investors rely primarily on the company\u2019s organic growth for returns, with exits typically via IPOs or secondary sales. Buyouts, by contrast, involve acquiring a majority or full stake, often using leverage to gain operational control, drive restructuring or efficiency improvements, and create value through active ownership. While growth transactions are about accelerating expansion, buyouts are about taking charge to unlock value and position the business for strategic sales or mergers.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The period also saw a rise in syndicated transactions<\/strong>, with four of the top five PE plays involving co-investments between local and international investors. These co-investments are enabling deeper due diligence, better risk-sharing, and stronger operational oversight, El Nahlawi said. She explained that partnerships between global funds and local players are leading to tighter valuation discipline and more sophisticated transaction terms, including performance-linked earnouts and tiered exit provisions, as foreign investors balance protection with access to local market expertise. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This trend is likely to continue<\/strong>, with more structured transactions with performance-based earnouts or tiered exit mechanisms, as \u201cglobal funds seek protection while leaning on local expertise to navigate the region\u2019s complexity,\u201d El Nahlawi added. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KSA bucks the PE downturn: <\/strong>Combined, Saudi Arabia and the UAE captured 86% of all private equity activity in the region. KSA was home to 13 transactions in the first half of the year, up 8% y-o-y, accounting for the lion\u2019s share (45%) of total activity in the region, supported by local investor appetite. The UAE recorded 12 transactions (41%) over the same period, down 25% y-o-y, with more capital flowing in from international buyers. Egypt (down 89%) and Jordan (down 50%) each saw one transaction in 1H. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sustainability and fintech emerged as standout sectors in 1H<\/strong>, with sustainability-related transactions accounting for 57% of disclosed funding, fueled by large transactions tied to energy transition initiatives, El Nahlawi told us. These sectors combine scale potential with strong alignment to regional policy priorities, making them prime targets under today\u2019s selective capital deployment, she said. SMEs outside this scale-ready bracket face a widening funding gap, as smaller ventures without clear exit routes or policy backing may struggle to draw investor interest unless supported by accelerators, development funds, or niche positioning, she added.<\/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\">34,198<\/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: +15.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 48.61<\/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 48.74<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB<\/strong><strong>) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 48.60<\/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 48.70<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">24.00% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">25.00% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,920<\/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: -9.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">10,317<\/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\">-0.5% (YTD: +9.5%)<\/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>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\">6,112<\/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: +18.5%)<\/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\">6,238<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.6% (YTD: +6.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,069<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +11.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,166<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.9% (YTD: +5.5%)<\/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>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 69.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 3.08<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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>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 3,400<\/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\">+1.5%<\/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>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 112,887<\/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: +20.6%)<\/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\">883.79<\/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\">+0.1% (YTD: +13.7%)<\/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>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\">147.17<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +5.2%)<\/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\">20.38<\/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\">+21.9% (YTD: +17.5%)<\/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<\/strong><strong> 1.0%<\/strong><strong> at Thursday\u2019s close<\/strong> on turnover of EGP 4.2 bn (17.1% below the 90-day average). Local investors were the sole net buyers. The index is up 15.0% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>GB Corp (+4.9%), Beltone Holding (+4.7%), and Rameda (+4.2%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Edita (-2.0%), Abou Qir Fertilizers (-0.6%), and Orascom Construction (-0.3%).<\/p><p class=\"tag-border-left\">CORPORATE ACTIONS- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Act Financial\u2019s general assembly approved paying out EGP 200 mn in dividends to <\/strong><strong>shareholders for its <\/strong><strong>2024<\/strong><strong> earnings <\/strong>at EGP 0.18 a share, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/8\/7.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The dividend will be funded through the company\u2019s retained earnings.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gcc\/\">GCC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/private-equity\/\">private equity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/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=\"669431\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/08\/03\/669431\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-669431\" class=\"content-area-description single-story post-669431 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;\">AUGUST <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-4 August (Sunday-Monday): Egyptians Abroad Conference, Triumph Hotel in New Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-5 August (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/reg.edugate-eg.com\/events\/event?id=36\" style=\"\">Edugate<\/a><\/span><span style=\"font-weight:400;\"> Cairo, Royal Maxim Palace Kempinski Hotel in New Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5 August (T<\/span><span style=\"font-weight:400;\">uesday): S&P Global to release its July Purchasing Managers Index (PMI) report for Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6 August (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/reg.edugate-eg.com\/events\/event?id=37\" style=\"\">Egugate<\/a><\/span><span style=\"font-weight:400;\"> Alexandria, Hilton Green Plaza Hotel in Alexandria.<\/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 August (Thursday): 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>8 August (F<\/span><span style=\"font-weight:400;\">riday): Capmas expected to release inflation data for 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;\">12 August (Tuesday): Egyptian Tax Authority deadline for pre-2020 tax dispute settlement requests.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12 August<\/span><span style=\"font-weight:400;\"> (Tuesday): Capmas expected to release unemployment data for 2Q 2025.<\/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 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;\">Mid-August: Launch of electronic platform to register Old Rent Law tenants.<\/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:400;\">Late-August: Deadline for cement factories to restart production.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">8-11 September (Monday-Thursday): EFG Hermes London Conference takes place in the British capital.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>9-11 September (Tuesday-Thursday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.papermideast.com\/eg\/\" style=\"\">International Exhibition for Paper, Corrugated Board, Paperboard and Tissue Paper Industries<\/a><\/span><span style=\"font-weight:400;\"> \u2014 PAPER-ME \u2014 takes place at the Egypt International Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 September (Monday): IMF to hold its combined fifth and sixth reviews of Egypt\u2019s USD 8 bn EFF arrangement.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>24-27 September (Wednesday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cityscape-events.com\/egypt\/en\/home.html\" style=\"\">Cityscape Egypt 2025<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibition Center.<\/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><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=\"\">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=\"\"> in Tenth of Ramadan to begin operations, with <\/span><span>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>23-25 October (Thursday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/stoneafrica.com\/\" style=\"\">Stone Africa Expo<\/a><\/span><span style=\"font-weight:400;\">, Cairo International Conference Center.<\/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 Center<\/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 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 Center.<\/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 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;\">3Q 2025: Polaris Parks to finalize contracts for two new industrial zones in the new capital and Sadat City.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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;\">2H 2025: Potential visit by Chinese President Xi Jinping to 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;\">4Q 2025: The beginning of construction works on China\u2019s State Grid two solar projects.<\/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;\">4Q 2025: GB Auto starts assembling one of China\u2019s Great Wall Motor models in 4Q 2025.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4Q 2025-1Q 2026: Kasrawy Group to launch first <\/span><span>Avatr<\/span><span style=\"font-weight:400;\"> EV models in 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: 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:400;\">Before 2025-end: The government will launch two ro-ro shipping lines with Saudi Arabia and Turkey.<\/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 style=\"font-weight:400;\">15 March 2026: IMF to hold its seventh review of Egypt\u2019s USD 8 bn EFF arrangement.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">May 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:400;\">15 September 2026: IMF to hold its eighth review of Egypt\u2019s USD 8 bn EFF arrangement.<\/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;\">2H 2026: Operations at Deli Glass Co\u2019s new USD 70 mn glassware factory kick off.<\/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>September 2028: First unit of the Dabaa nuclear power plant begins operations.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>MPs debate TikTok ban | More Dongfengs on the streets | MENA private equity activity cools<\/p>\n","protected":false},"featured_media":669413,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-669412","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"4d055f6b-198d-43f6-aaaa-cd347dbc9cef","teaser":"MPs debate TikTok ban | More Dongfengs on the streets | MENA private equity activity cools","photo_url":"https:\/\/ent.news\/2025\/8\/19.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>No new taxes coming \u2014 and we\u2019ve been spared the worst of Trump\u2019s tariffs - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/no-new-taxes-coming-and-weve-been-spared-the-worst-of-trumps-tariffs\/\" 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