{"id":672900,"date":"2025-10-02T00:00:00","date_gmt":"2025-10-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=672900"},"modified":"2025-12-18T08:27:42","modified_gmt":"2025-12-18T08:27:42","slug":"qatari-diar-st-regis-to-set-up-usd-3-5-bn-project","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/qatari-diar-st-regis-to-set-up-usd-3-5-bn-project\/","title":{"rendered":"Qatari Diar, St. Regis to set up USD 3.5 bn project"},"content":{"rendered":"<section id=\"672902\" 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=\"672902\">\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\/10\/02\/esmat-confirms-no-electricity-price-hikes-before-january\/\">\r\n                            Esmat confirms no electricity price hikes before January                        <\/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\/10\/02\/esmat-confirms-no-electricity-price-hikes-before-january\/\" target=\"_blank\">\n                    Open in new tab                    <!-- 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data-attachment-id=\"672903\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/esmat-confirms-no-electricity-price-hikes-before-january\/2505-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2505.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2505.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2505.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2505.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-672902\" class=\"content-area-description single-story post-672902 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-electricity tag-enterpriseam 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\/10\/.a1d0bfab-04f8-46fb-b8b3-d9554a67395c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, folks and happy Thursday. <\/strong>We wrap up the week with a brisk issue led by investment and debt news \u2014 Qatari Dair and St. Regis will set up a USD 3.5 bn Red Sea project as part of Qatar\u2019s USD 7.5 bn direct investment pledge and our USD 1.5 bn sovereign sukuk issuance was 6x oversubscribed. But we don\u2019t expect things to stay quiet with the central bank\u2019s Monetary Policy Committee meeting today to review rates. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU LOSE CELL SERVICE IN THE EARLY HOURS OF THE DAY? <\/strong>You weren\u2019t alone. The state was carrying out some development work at the Grand Egyptian Museum between 3-6am, which resulted in some disruptions to telecom and internet services across Greater Cairo, the National Telecom Regulatory Authority said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/10\/87.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>BEFORE WE DIVE IN- Are you currently working toward a<\/strong><strong> BA, MA, or <\/strong><strong>PhD<\/strong><strong> at <\/strong><strong>AUC? Come say hello at the university\u2019s<\/strong> <strong><a target=\"_blank\" href=\"https:\/\/careercenter.aucegypt.edu\/career-circles\" style=\"\" rel=\"noopener\">Career Circles<\/a><\/strong><strong> job fair today. <\/strong>EnterpriseAM will be making the case why Egypt\u2019s best and brightest should embark on a career in journalism from 11am to 3pm at the Moataz Al Alfi Hall.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not an AUC student, but fancy working in a fast-paced newsroom? <\/strong>Luckily for you, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/jobs\/list\" style=\"\" rel=\"noopener\">EnterpriseAM is always hiring<\/a>.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/mailchi.mp\/enterpriseam.com\/2025egyptforum\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/9\/1723.jpg?ssl=1\"><\/a> <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><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>Banks will also be getting Thursday, 9 October off in observance of Armed Forces <\/strong><strong>Day<\/strong>, the central bank said yesterday. We got confirmation for the public sector <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d153e940-a8c6-4d20-b72a-4675b926cbbe\/gov%25e2%2580%2599t-identifies-more-priority-industries-earmarked-for-localization\" style=\"\" rel=\"noopener\">earlier this week<\/a>, but we\u2019re yet to hear confirmation from the Labor Ministry and EGX about whether the private sector and traders will also be getting a long weekend \u2014 though it\u2019s a safe assumption.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>Cairo is looking at another cool day, with a high of 33\u00b0C and a low of 23\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s just as cool in Alexandria<\/strong>, with a high of 33\u00b0C and a low of 22\u00b0C.<\/p><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\"><a id=\"wwtt2\"><\/a> <strong>To cut, or not to cut, that is the question on everyone's lips this morning <\/strong>ahead of the central bank\u2019s Monetary Policy Committee meeting to decide rates today. The committee cut rates by 200 bps at its last meeting in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fd8a7318-ec5c-42c8-9bfc-0a32e634a8da\/cbe-resumes-its-easing-cycle-with-200-bps-cut\" style=\"\" rel=\"noopener\">August<\/a>, resuming its easing cycle that was paused in July after two consecutive cuts totalling 325 bps in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/030e8a7e-a0f6-48c5-bf6c-794c43555671\/cbe-cuts-rates-for-the-first-time-since-november-2020\" style=\"\" rel=\"noopener\">April<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2a14e89a-ecd2-4279-9309-ff06b2750da5\/cbe-cuts-rates-for-second-time-amid-easing-inflationary-pressures\" style=\"\" rel=\"noopener\">May<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Most analysts <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5c2143ef-3d98-45d3-b601-e40a71186760\/slim-majority-of-analysts-forecast-rate-cut-on-the-back-of-easing-inflation--enterpriseam-poll\" style=\"\" rel=\"noopener\">polled by EnterpriseAM<\/a><\/strong><strong> believe the meeting will result in a 100-200 bps <\/strong><strong>cut<\/strong>, pointing to promising inflation data, exchange rate stability, and the need to frontload cuts before inflationary pressures from incoming fuel price hikes start making their mark. But not everyone is convinced, with a minority of those surveyed forecasting that the bank will hit pause to wait and assess the impact of upcoming price fuel hikes and fully absorb August\u2019s 200 bps cut.<\/p><p class=\"tag-border-left\">WATCH THIS SPACE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt3\"><\/a> <strong>#1- No electricity price hikes before January -Esmat confirms:<\/strong> The Madbouly government will keep electricity prices unchanged until the start of 2026, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/amp\/aswaq\/special-stories\/2025\/10\/01\/%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A-%D9%84%D8%A7-%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D8%A7%D8%B3%D8%B9%D8%A7%D8%B1-%D8%AD%D8%AA%D9%89-%D9%8A%D9%86%D8%A7%D9%8A%D8%B1-%D9%88170-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AC%D9%86%D9%8A%D9%87-%D9%82%D9%8A%D9%85%D8%A9-%D8%A7%D9%84%D8%AF%D8%B9%D9%85\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reports, citing Electricity Minister Mahmoud Esmat. A new tariff structure will then be set based on actual costs, according to the minister.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You heard it here first: <\/strong>EnterpriseAM <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/203283a3-28d3-4a98-a746-e6a5a55a5707\/egypt-weighs-delaying-electricity-price-hikes-until-early-next-year\" style=\"\" rel=\"noopener\">reported in July<\/a> that the government could postpone electricity price hikes until January on the back of the energy sector securing its natural gas needs at a price below global rates and the decline in the EGP\/USD exchange rate \u2014 providing the government the flexibility needed to absorb the cost of pushing back these anticipated hikes, our source said at the time.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>The Electricity Ministry has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/502d7ed8-9571-460b-ad59-c01d2e26ff5c\/our-long-awaited%253cmark%253e-electricity%253c%2Fmark%253e-rate-hikes-are-here,-capping-off-a-busy-summer-of-subsidy-reform\" style=\"\" rel=\"noopener\">raised<\/a> electricity prices by 14-40% between August and September 2024. The cost of electricity production has soared after the float of the EGP, becoming more of a burden on the state budget.<\/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=\"wwtt4\"><\/a> <strong>#2- Startups could soon receive more support to expand overseas<\/strong>, with General Authority for Investment and Freezones CEO Hossam Heiba saying that the authority is working on initiatives and financing to support the sector's access to foreign markets, according to an authority <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02bsSrcLK5qeVkxH4k2Tvjrs5oMxhXLCqVZh6tFutQMnF8g3gtZ4nR93GBTUHWDffml\" style=\"\" rel=\"noopener\">statement<\/a>. The authority is currently studying global best practices to replicate and coordinating with regional economies to support local startups expanding abroad, he added.<\/p><p class=\"tag-border-left\">IN THE HOUSE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lawmakers kicked off the sixth session of their second legislative term <\/strong><strong>yesterday<\/strong>, which saw Prime Minister Moustafa Madbouly \u2014 following the usual introductory pleasantries \u2014 get the ball rolling by delivering presidential objections to a number of articles of the draft Criminal Procedures Law, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0NZstZi1WLkH8PtMgkszsnen28MJbn6m4PHzeDuDkobZGFj33gGu1F1vvCejNeBPQl\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The articles in question relate to governance, clarity, and practicality<\/strong> \u2014 specifically ensuring greater protection for defendant rights, expanding alternatives to pre-trial detention, removing ambiguous language that could cause conflicting interpretations, and allowing more time for ministries and agencies to prepare for new mechanisms and models introduced in the draft law.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>President Abdel Fattah El Sisi sent the draft Criminal Procedures Law back to the House <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f0816aa0-d8ac-48de-b661-dc33c4844b4b\/el-sisi-returns-new%253cmark%253e-criminal-procedures%253c%2Fmark%253e-law-to-the-house\" style=\"\" rel=\"noopener\">last week<\/a> to address objections over several articles, following calls from multiple stakeholders urging a review of the law\u2019s provisions. After months of back-and-forth, the House approved the new law in April, laying out the framework for investigating, prosecuting, and trying criminal cases. We dove into some of the key provisions of the draft law in our previous coverage \u2014 check it out <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/68bb9fe6-91ed-4115-994e-9b66d115e1d8\/mps-approve-criminal-procedures-law,-green-light-changes-to-mining-authority,-nat-assets\" style=\"\" rel=\"noopener\">here<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Criminal Procedures law will continue to dominate the agenda at the House today<\/strong> as the MPs return to the lower chamber in just a few hours.<\/p><p class=\"tag-border-left\">PROJECT UPDATE-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/653bc78e-5d38-4458-975b-249cc9521b61\" style=\"\" rel=\"noopener\">3 GW Egypt-Saudi electricity interconnection<\/a><\/strong><strong> project will be up and running by the <\/strong><strong>end of the year<\/strong>, Electricity Minister Mahmoud Esmat told <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/videos\/100707\/%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A-%D8%AA%D8%B4%D8%BA%D9%8A%D9%84-%D8%A7%D9%84%D8%B1%D8%A8%D8%B7-%D8%A8%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%82%D8%A8%D9%84-%D9%86%D9%87%D8%A7%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%85\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The project is now 92% complete, with just testing and the installation of the final connections left, Esmat added.<\/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><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>All eyes are still on the US shutdown<\/strong>, which began early yesterday morning, as well as on <strong>Israel\u2019s interception of vessels<\/strong> from the Gaza aid flotilla. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The shutdown is expected to last at least three days<\/strong>, with the Senate out of session today for Yom Kippur and only expected to meet again on Friday. During this time, White House Budget Director Russell Vought reportedly said the government plans to terminate workers, while some USD 26 bn in funding for Democratic states has been frozen. US President Donald Trump had warned that he would use the funding gap to target \u201cDemocrat things.\u201d (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/us-government-begins-shut-down-most-operations-after-congress-fails-advance-2025-10-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-10-01\/vance-downplays-federal-layoff-plans-as-government-shuts-down?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/10\/01\/government-shutdown-trump-live-updates.html\" style=\"\" rel=\"noopener\">CNBC<\/a>) <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel intercepted a number of vessels from the Global Sumud Flotilla<\/strong>, which was on its way to Gaza to deliver aid, moving some of the activists on board to an Israeli port. The passengers also said Israel was using \u201cactive aggression\u201d on their fleet and trying to sink one of the boats. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/live-gaza-flotilla-faces-israels-blockade-activists-call-aid-access-2025-10-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2025\/oct\/01\/israeli-military-vessels-pro-palestinian-flotilla-gaza\" style=\"\" rel=\"noopener\">Guardian<\/a>) <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/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=\"672904 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=\"672904\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/672904\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-672904\" class=\"content-area-description single-story post-672904 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\/9\/596.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span>As the Sahel summer winds down, the Red Sea is just getting started. Say hello to Somabay, a year-round seaside escape where tranquil waters, world-class diving, kitesurfing, golf, and wellness come together in one breathtaking destination. This September, it also hosts the ITF World Tennis Tour, bringing world-class tennis to the coast. Somabay is the perfect next stop, a place where the season never ends, and every day feels like the first day of summer<\/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=\"672905\" 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=\"672905\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/qatari-diar-st-regis-to-launch-usd-3-5-bn-red-sea-project\/\">\r\n                            Qatari Diar + St. Regis to launch USD 3.5 bn Red Sea project                        <\/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\/10\/02\/qatari-diar-st-regis-to-launch-usd-3-5-bn-red-sea-project\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/qatari-diar-st-regis-to-launch-usd-3-5-bn-red-sea-project\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/qatari-diar-st-regis-to-launch-usd-3-5-bn-red-sea-project\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Qatari Diar + St. Regis to launch USD 3.5 bn Red Sea project&url=https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/qatari-diar-st-regis-to-launch-usd-3-5-bn-red-sea-project\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/qatari-diar-st-regis-to-launch-usd-3-5-bn-red-sea-project\/&title=Qatari Diar + St. Regis to launch USD 3.5 bn Red Sea project\">\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=Qatari+Diar+%2B+St.+Regis+to+launch+USD+3.5+bn+Red+Sea+project+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F10%2F02%2Fqatari-diar-st-regis-to-launch-usd-3-5-bn-red-sea-project%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\/10\/02\/qatari-diar-st-regis-to-launch-usd-3-5-bn-red-sea-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/93.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"672906\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/qatari-diar-st-regis-to-launch-usd-3-5-bn-red-sea-project\/93-jpg-28\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/93.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"93.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/93.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/93.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-672905\" class=\"content-area-description single-story post-672905 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-egypt-qatar-relations tag-enterpriseam tag-fdi tag-hospitality tag-investment-watch tag-sovereign-wealth-funds tag-tourism 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\/10\/.43081726-1169-4d50-b444-28563ef4625e.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Nearly half of<\/strong> <strong>Qatar\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/71a18642-bf84-4b50-bc8e-ece4d823f652\/%253cmark%253eqatar%253c%2Fmark%253e-to-work-on-usd-7.5-bn-in-new-investments-to-egypt\" style=\"\" rel=\"noopener\">USD 7.5 bn direct investment pledge<\/a><\/strong> <strong> will go toward <\/strong><strong>a <\/strong><strong>Red Sea project<\/strong>, which will be undertaken by the Qatar Investment Authority-owned Qatari Dair and Marriott-owned hospitality chain St. Regis, a senior government source told EnterpriseAM. Details on the proposed USD 3.5 bn project are still few and far between, but it could be part of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bbf39fe3-7273-4890-a73d-1616408be585\/gcc-sovereign-wealth-fund-to-announce-big-ticket-project-in-ras%253cmark%253e-shukeir%253c%2Fmark%253e-in-the-coming-days\" style=\"\" rel=\"noopener\">previously reported negotiations<\/a> with unnamed Gulf sovereign wealth funds to launch big-ticket projects in the 174 sq km Ras Shukeir zone on the Red Sea.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The news follows an increased focus on the area from hospitality and real estate players<\/strong>, including a EGP 900 bn \u2014 yes, you read that right \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cf61b428-c1ee-4d32-a298-433546fd47da\/emaar-misr,-citystars-to-develop-a-egp-900-bn-marassi-on-the%253cmark%253e-red-sea%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">integrated tourism project<\/a> from Emaar Misr and Saudi-owned real estate developer Citystars Properties. We also heard that the government is working to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e372c35-f9cc-4657-9fa2-f1b41a0c5062\/the%253cmark%253e-red-sea%253c%2Fmark%253e-could-be-looking-at-5-new-tourism-projects\" style=\"\" rel=\"noopener\">position the Red Sea as a year-round global destination<\/a>, with four to five new tourism projects in the pipeline, covering 3-4 mn sqm, a government source has previously told EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The remaining USD 4 bn of the investment package will go toward a project on the North <\/strong><strong>Coast<\/strong>, which Qatari Ambassador to Egypt Tariq Ali Faraj Al Ansari has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/58d56e75-e34c-4634-a9eb-1542718b63f5\/fuel-price-hike-could-be-days-away\" style=\"\" rel=\"noopener\">recently told EnterpriseAM<\/a> will be announced \u201cas soon as possible.\u201d Negotiations with the Qatari Real Estate Regulatory Authority are still underway and are focusing on the final parts of the agreement, our senior government source confirmed yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another North Coast city project is in the works<\/strong>, with the government planning to launch a 2 mn sqm city that will house tourism developments, administrative areas, a special area for sports, and a sizable health resort. The offering will be open to international investors with a focus on public-private partnerships. <\/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\/egypt-qatar-relations\/\">Egypt-Qatar relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-wealth-funds\/\">Sovereign wealth funds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/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=\"672907 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=\"672907\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/672907\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-672907\" class=\"content-area-description single-story post-672907 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:\/\/omny.fm\/shows\/enterpriseam-egypt\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/9\/715.jpg?ssl=1\"><\/a><\/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<section id=\"672908\" 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=\"672908\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/our-usd-1-5-bn-sovereign-sukuk-issuance-was-6x-oversubscribed\/\">\r\n                            Egypt\u2019s USD 1.5 bn sovereign sukuk issuance was 6x oversubscribed                        <\/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\/10\/02\/our-usd-1-5-bn-sovereign-sukuk-issuance-was-6x-oversubscribed\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/our-usd-1-5-bn-sovereign-sukuk-issuance-was-6x-oversubscribed\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/our-usd-1-5-bn-sovereign-sukuk-issuance-was-6x-oversubscribed\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Our USD 1.5 bn sovereign sukuk issuance was 6x oversubscribed&url=https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/our-usd-1-5-bn-sovereign-sukuk-issuance-was-6x-oversubscribed\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/our-usd-1-5-bn-sovereign-sukuk-issuance-was-6x-oversubscribed\/&title=Our USD 1.5 bn sovereign sukuk issuance was 6x oversubscribed\">\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=Our+USD+1.5+bn+sovereign+sukuk+issuance+was+6x+oversubscribed+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F10%2F02%2Four-usd-1-5-bn-sovereign-sukuk-issuance-was-6x-oversubscribed%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\/10\/02\/our-usd-1-5-bn-sovereign-sukuk-issuance-was-6x-oversubscribed\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/31.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"672909\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/our-usd-1-5-bn-sovereign-sukuk-issuance-was-6x-oversubscribed\/31-jpg-43\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/31.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"31.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/31.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/31.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-672908\" class=\"content-area-description single-story post-672908 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt tag-debt-watch tag-enterpriseam tag-finance-ministry tag-sovereign-debt tag-sukuk 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\/10\/.59a73bce-5fca-4900-ae4a-943cfbcac9c1.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt\u2019s return to the international debt market is off to a good start<\/strong>, with its USD 1.5 bn sukuk offering receiving over USD 9 bn in subscription requests, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MOF.Egypt\/posts\/pfbid02DMBdSzHfmtJ7m8DuJmKLXxAQUs43xPMy3HeGyRjJmMUZhgUrj3Nj8zSmvdZSGbR6l\" style=\"\" rel=\"noopener\">statement<\/a> from the Finance Ministry. The dual-tranche sukuk issuance \u2014 scheduled for 7 October \u2014 is split between a USD 700 mn, 3.5-year tranche and a USD 800 mn, seven-year tranche.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The issuance stands as Egypt\u2019s third-ever sovereign sukuk issuance and the fiscal year\u2019s first, following June\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3455799b-478b-4caa-9416-954287686ac3\/finmin-completes-usd-1-bn-sovereign%253cmark%253e-sukuk%253c%2Fmark%253e-issuance-fully-subscribed-by-kuwait-finance-house\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3455799b-478b-4caa-9416-954287686ac3\/finmin-completes-usd-1-bn-sovereign%253cmark%253e-sukuk%253c%2Fmark%253e-issuance-fully-subscribed-by-kuwait-finance-house\" style=\"\" rel=\"noopener\">USD 1 bn sovereign sukuk issuance<\/a>, which was fully subscribed by Kuwait Finance House, and our <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8098cfcf-0e05-49cc-8f1a-20cdc83b9059\/it%25e2%2580%2599s-showtime-for-our%253cmark%253e-maiden%253c%2Fmark%253e-sovereign%253cmark%253e-sukuk%253c%2Fmark%253e-issuance\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8098cfcf-0e05-49cc-8f1a-20cdc83b9059\/it%25e2%2580%2599s-showtime-for-our%253cmark%253e-maiden%253c%2Fmark%253e-sovereign%253cmark%253e-sukuk%253c%2Fmark%253e-issuance\" style=\"\" rel=\"noopener\">maiden<\/a> sukuk issuance back in 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>YOU HEARD IT HERE FIRST- <\/strong>EnterpriseAM on Tuesday <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e6294017-c5b6-49ec-8820-368f137132c4\/egypt-taps-international-debt-market-with-usd-2-bn-sovereign%253cmark%253e-sukuk%253c%2Fmark%253e-issuance\" style=\"\" rel=\"noopener\">reported<\/a> that Egypt returned to the international debt market with a USD 2 bn dual tranche sovereign sukuk issuance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yields are a step lower than prevailing rates in the secondary market<\/strong>, with the 3.5-year tranche\u2019s 6.375% yield a <a target=\"_blank\" href=\"https:\/\/mof.gov.eg\/ar\/posts\/media\/68dce220c9fcc2000771d04f\/%C2%AB%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9%C2%BB%3A%20%D8%AA%D8%B3%D8%B9%D9%8A%D8%B1%20%D8%A5%D8%B5%D8%AF%D8%A7%D8%B1%20%D8%B5%D9%83%D9%88%D9%83%20%C2%AB%D9%85%D8%B2%D8%AF%D9%88%D8%AC%20%D8%A7%D9%84%D8%B4%D8%B1%D9%8A%D8%AD%D8%A9%C2%BB%20%D8%A8%D9%82%D9%8A%D9%85%D8%A9%20%D9%A1%2C%D9%A5%20%D9%85%D9%84%D9%8A%D8%A7%D8%B1%20%D8%AF%D9%88%D9%84%D8%A7%D8%B1\" style=\"\" rel=\"noopener\">good 20 bps below<\/a> prices for Egyptian bonds with the same maturity. The seven-year tranche\u2019s 7.950% yield is down 35 bps on comparable Egyptian debt of the same maturity. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new issuance\u2019s yields are also lower than those on our three-year maiden sukuk <\/strong><strong>tranche in 2023<\/strong>, which was initially priced at 11.0% before market momentum dragged the yield down. Insider sources in previous comments to EnterpriseAM attributed the dip to an improvement in our credit rating and the stable economic outlook.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Finance Ministry\u2019s strategy is to improve government debt by focusing on <\/strong><strong>diversifying financing sources and broadening the investor base<\/strong>, according to the statement. This, it says, will help reduce financing costs and extend debt maturity while continuing to sustainably reduce external debt on an annual basis<\/p>\n<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>What\u2019s next?<\/strong> The bonds will be listed on the London Stock Exchange when the issuance is closed, we were told earlier this week prior to the official announcement.<\/p>\n<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>ADVISORS- <\/strong>Our friends at HSBC are leading the issuance, along with Citibank, Dubai Islamic Bank, First Abu Dhabi Bank, and Abu Dhabi Islamic Bank.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-debt\/\">sovereign debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n  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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"672911\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Tax<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/finmin-deputy-reveals-key-details-regarding-second-package-of-tax-facilities\/\">\r\n                            FinMin deputy reveals key details regarding second package of tax facilities                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img 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  <\/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\/10\/02\/finmin-deputy-reveals-key-details-regarding-second-package-of-tax-facilities\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1760.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"672912\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/finmin-deputy-reveals-key-details-regarding-second-package-of-tax-facilities\/1760-jpg-37\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1760.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1760.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1760.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1760.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-672911\" class=\"content-area-description single-story post-672911 post type-post status-publish format-standard has-post-thumbnail hentry category-tax tag-enterpriseam tag-finance-ministry tag-tax wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.595e5b7b-1ba4-4076-a41f-769b17931dff.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">  <strong>The <\/strong><strong>second package of tax facilities will include 25 new tax measures<\/strong>, Deputy Finance Minister for Taxes Sherif Al Kilani told EnterpriseAM, explaining that more may be added or pushed back before the package is launched. The package is currently being fast-tracked ahead of being released for public dialogue \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/527270fb-e666-4622-a4c7-74412b6910b4\/the-second-package-of-tax-facilities-is-now-under-community-review\" style=\"\" rel=\"noopener\">business community dialogue sessions<\/a> on the package started in mid-September.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> It first came to light in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b549028d-7b53-4c09-852e-010679347ad5\/planning-ministry-unveils-the-national-narrative-for-economic-development\" style=\"\" rel=\"noopener\">September<\/a> of last year that the government is readying another tax relief package, one targeting the real estate sector, shortly after it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5f12da9a-48e0-44e3-9c2f-853b7d1ff045\" style=\"\" rel=\"noopener\">unveiled<\/a> the first package of tax facilities aimed at simplifying the tax system and easing the burden on taxpayers. Finance Minister Ahmed Kouchouk said in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bab7fde0-b838-45a2-8824-622c4caef1cc\/gdp-growth-picks-up-to-4.5%2525-in-fy-2024-25\" style=\"\" rel=\"noopener\">August<\/a> that the second package of tax relief measures will be put up for community dialogue in October, pending parliamentary approval of some aspects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The big picture:<\/strong> The new package is primarily focused on resolving issues experienced by the tax community when it comes to following the VAT Law through introducing new facilities and removing hurdles facing businesses, Al Kilani told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An innovative mechanism for instant tax refund:<\/strong> The Finance Ministry will introduce a new mechanism for instant tax refunds, eliminating the current three-month waiting period for certain investors, Al Kilani said. This new system, which allows eligible investors to receive their tax refunds immediately upon submitting their application and export invoices, aims to enhance liquidity, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s eligible?<\/strong> Taxpayers must demonstrate a history of compliance, with no prior lawsuits for tax evasion, a low rate of discrepancies in audits, and a consistently high rate of tax performance to be eligible for instant tax refunds, Al Kilani added. The ministry is now working on creating a whitelist by classifying taxpayers through a highly efficient risk management system, according to Al Kilani.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There will be no changes to the VAT registration threshold <\/strong>\u2014 currently set at EGP 500k \u2014, Al Kilani said. There have been requests from the business community to increase the threshold so it is more in tune with current inflation levels. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In response to calls from the business community, the ministry will extend the deadline <\/strong><strong>given for companies to submit pre-2020 tax dispute settlement requests<\/strong>, Al Kilani said. The deadline was extended for a renewable six-month period \u2014 it was previously set to expire on 12 August. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>Tax revenues saw their fastest growth in years, rising 35.3% y-o-y to EGP 2.2 tn last fiscal year, which Finance Minister Ahmed Kouchouk <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/799756ca-48c5-4dab-85ed-6530551cb65d\/our-first-look-at-the-economy%25e2%2580%2599s-performance-last-fiscal-year\" style=\"\" rel=\"noopener\">attributed<\/a> to tax measures introduced to widen the tax base and create 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>Package of custom breaks is also being expedited<\/strong> ahead of being put up for community dialogue. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>Since both the tax and customs packages require legislative amendments, they will be up for public dialogue and then head to the House for approval, according to the Al Kilani said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s the long-anticipated package of <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9d00b346-8cdf-4024-839b-03967ef22a8c\/trumps-says-three-targeted-iranian-nuclear-sites-totally-obliterated\" style=\"\" rel=\"noopener\">real estate tax relief<\/a><\/strong><strong>? <\/strong>The package has secured the green light from the cabinet after its completion, he said, adding that it currently awaits the House\u2019s approval. <\/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=\"672913\" 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=\"672913\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">A MESSAGE FROM ONSI SAWIRIS SCHOOL OF BUSINESS EXECUTIVE EDUCATION AT THE AMERICAN UNIVERSITY IN CAIRO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/where-egypts-top-companies-transform-onsi-sawiris-school-of-business-execed-5\/\">\r\n                            Where Egypt\u2019s top companies transform \u2014 Onsi Sawiris School of Business ExecEd                        <\/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\/10\/02\/where-egypts-top-companies-transform-onsi-sawiris-school-of-business-execed-5\/\" 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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Whether you're navigating complex leadership challenges, or striving to boost organizational performance, ExecEd\u2019s programs are designed to address your specific needs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why Choose ExecEd?<\/strong><\/p>\n<ul>\n<li><strong>Globally Recognized Excellence: <\/strong>Ranked among the top executive education providers worldwide (Financial Times).<\/li>\n<li><strong>Cross-Industry Expertise:<\/strong> Deep industry knowledge in banking, healthcare, manufacturing, and more.<\/li>\n<li><strong>Proven Track Record: <\/strong>Demonstrated success in transforming Egypt\u2019s leading organizations.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ExecEd\u2019s Services Include:<\/strong><\/p>\n<ul>\n<li>Leadership development and coaching<\/li>\n<li>Technical and managerial skills training<\/li>\n<li>Assessment services for recruitment and promotions<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Take the First Step Towards Lasting Success:<\/strong><\/p>\n<ul>\n<li>Contact ExecEd on <strong>15592<\/strong><\/li>\n<li>Click <a target=\"_blank\" href=\"http:\/\/business.aucegypt.edu\/execed\/business-solutions\" style=\"\" rel=\"noopener\">here<\/a> for more information on ExecEd\u2019s diverse range of training solutions programs.<\/li>\n<li>Get expert guidance from ExecEd\u2019s <a target=\"_blank\" href=\"https:\/\/mailchi.mp\/aucegypt\/execedcorporate\" style=\"\" rel=\"noopener\">business solutions advisors<\/a>.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/a-message-from-onsi-sawiris-school-of-business-executive-education-at-the-american-university-in-cairo\/\">A MESSAGE FROM ONSI SAWIRIS SCHOOL OF BUSINESS EXECUTIVE EDUCATION AT THE AMERICAN UNIVERSITY IN CAIRO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/auc\/\">AUC<\/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=\"672915\" 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=\"672915\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/egx-extends-gains-in-september-closing-up-4-3\/\">\r\n                            EGX extends gains in September, closing up 4.3%                        <\/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\/10\/02\/egx-extends-gains-in-september-closing-up-4-3\/\" 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 benchmark hit a high of 36.7k points and a low of 34.2k during the month. Meanwhile, the EGX33 Shariah rose 3.7% during the month. Total market capitalization was up 5.0% to EGP 2.6 tn, with EGX30 constituents accounting for EGP 1.4 tn of the total. <\/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>Trading value climbs:<\/strong> Total value traded grew 10.7% to EGP 1.7 tn, up from EGP 1.5 tn in August. Equity trades represented 6.6% of the main market, while bonds and bills continued to dominate with 93.4%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Top-performing sectors in September:<\/strong> Healthcare & pharma led the board with a 12% jump, followed by food, beverages & tobacco (+9.8%), and shipping & transportation services (+7.1%). On the flipside, industrial goods, services and automobiles fell 3.7%, while building materials dipped 3.6%, and contracting and construction engineering slipped 0.6%. All other sectors ended in the green. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Local and regional institutions were net buyers in September<\/strong>, picking up EGP 1.7 bn and EGP 291 mn, respectively (excluding block trades), while foreign institutions offloaded EGP 82 mn. On the retail side, the trend flipped: local investors sold EGP 1.6 bn and Arab investors offloaded EGP 378 mn, while foreign retail investors were marginal net buyers at EGP 32 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How the EGX fared against regional benchmarks: <\/strong>TASi gained 7.8% in September, on news it may be easing the cap on foreign ownership. ADX shed 0.7% last month while the DFM closed down 2.4%. <\/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\">BROKERAGE LEAGUE TABLE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Last month: <\/strong>EFG\u2019s two brokerage arms topped the <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/10\/60.pdf\" style=\"\" rel=\"noopener\">EGX brokerage league table (pdf)<\/a> in September with a combined market share of 17.1%, followed by Thndr (9.7%) and Mubasher (7.8%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a quarterly basis: <\/strong>EFG\u2019s brokerage finished first in 3Q with a combined 13.8% market share, well ahead of Thndr (9.1%) and Mubasher (7.6%), according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/10\/61.pdf\" style=\"\" rel=\"noopener\">EGX quarterly brokerage league table (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>YTD, <\/strong>EFG\u2019s two brokerages retained the top spot with a 20.8% market share, beating Thndr (7.5%) and Mubasher (6.9%), according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/10\/62.pdf\" style=\"\" rel=\"noopener\">the bourse\u2019s ranking (pdf)<\/a> which tracked firms\u2019 performance between January and September.<\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"672917 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=\"672917\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/672917\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-672917\" class=\"content-area-description single-story post-672917 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.eg\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2099.jpg?ssl=1\"><\/a><\/span><\/p>\n\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=\"672918\" 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=\"672918\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/valu-completes-second-egp-1-1-bn-issuance-under-new-securitization-program\/\">\r\n                            Valu completes second EGP 1.1 bn issuance under new securitization program                        <\/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\/10\/02\/valu-completes-second-egp-1-1-bn-issuance-under-new-securitization-program\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1272.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"672919\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/valu-completes-second-egp-1-1-bn-issuance-under-new-securitization-program\/1272-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1272.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1272.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1272.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1272.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-672918\" class=\"content-area-description single-story post-672918 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-contact-financial tag-debt tag-debt-watch tag-enterpriseam tag-valu 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\/10\/.81696844-ec50-4e79-8ad4-b4945b40f5fa.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Valu closed a EGP 1.1 bn securitized bond issuance<\/strong>, the second under the company\u2019s newly-approved EGP 10 bn securitization program \u2014 Valu\u2019s fourth to date \u2014 according to an EGX <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/10\/48.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> This issuance featured two tranches with tenors ranging between 12 and 18 months, rated P1 and A-.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fintech <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ff80d7c5-31db-4856-be6e-b6f23bc4ea3e\/%2525d8%2525a8%2525d9%252580-460.7-%2525d9%252585%2525d9%252584%2525d9%25258a%2525d9%252588%2525d9%252586-%2525d8%2525ac%2525d9%252586%2525d9%25258a%2525d9%252587..%25253cmark%25253e-%2525d9%252581%2525d8%2525a7%2525d9%252584%2525d9%25258a%2525d9%252588%25253c%252Fmark%25253e-%2525d8%2525aa%2525d8%2525aa%2525d9%252585-%2525d8%2525a5%2525d8%2525b5%2525d8%2525af%2525d8%2525a7%2525d8%2525b1%2525d9%252587%2525d8%2525a7-%2525d8%2525a7%2525d9%252584%2525d8%2525a3%2525d9%252588%2525d9%252584-%2525d8%2525b6%2525d9%252585%2525d9%252586-%2525d8%2525a8%2525d8%2525b1%2525d9%252586%2525d8%2525a7%2525d9%252585%2525d8%2525ac-%2525d8%2525aa%2525d9%252588%2525d8%2525b1%2525d9%25258a%2525d9%252582-%2525d9%252582%2525d9%25258a%2525d9%252585%2525d8%2525aa%2525d9%252587-10-%2525d9%252585%2525d9%252584%2525d9%25258a%2525d8%2525a7%2525d8%2525b1%2525d8%2525a7%2525d8%2525aa-%2525d8%2525ac%2525d9%252586%2525d9%25258a%2525d9%252587\" style=\"\" rel=\"noopener\">kicked off its new program<\/a><\/strong> <strong> in August<\/strong> with a EGP 460.7 mn issuance.<\/p>\n<p class=\"tag-border-left\"> CONTACT FINANCE CLOSES EGP 1.3 BN ISSUANCE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Contact Financial Holding closed a EGP 1.3 bn securitization issuance<\/strong>, the non-banking financial services player announced in a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/sarwa-securitization-contact-financial-holding-subsidiary-solidifies-its-market-leadership-with-egp-1312bln-46th-securitization-bond-issuance-closed-in-q3-2025-jl4eeecc\" style=\"\" rel=\"noopener\">press release<\/a>. The offering came in three tranches with tenors ranging from 13 to 60 months, rated AA+, AA, and A by Middle East Ratings and Investors Service (Meris). The bonds were issued by Contact\u2019s Sarwa Securitization and backed by a Contact Credit portfolio.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who bought in? <\/strong>Contact Financial Holding, CIB, Arab African International Bank, and CI Capital acted as the transaction\u2019s underwriters. Bank ABC and several unnamed money market funds subscribed to the issuance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Contact Financial acted as the issuance manager and promoter. CIB served as the placement agent and custodian. Ali El Din Weshahy provided counsel, and KPMG was the auditor. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/contact-financial\/\">Contact Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/valu\/\">ValU<\/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=\"672920\" 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=\"672920\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/onsi-sawiris-school-of-business-cems-masters-in-international-management-ranks-fourth-globally\/\">\r\n                            Onsi Sawiris School of Business\u2019 CEMS master's in international management ranks fourth globally                        <\/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\/10\/02\/onsi-sawiris-school-of-business-cems-masters-in-international-management-ranks-fourth-globally\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/onsi-sawiris-school-of-business-cems-masters-in-international-management-ranks-fourth-globally\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/onsi-sawiris-school-of-business-cems-masters-in-international-management-ranks-fourth-globally\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Onsi Sawiris School of Business\u2019 CEMS master's in international management ranks fourth globally&url=https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/onsi-sawiris-school-of-business-cems-masters-in-international-management-ranks-fourth-globally\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/onsi-sawiris-school-of-business-cems-masters-in-international-management-ranks-fourth-globally\/&title=Onsi Sawiris School of Business\u2019 CEMS master's in international management ranks fourth globally\">\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=Onsi+Sawiris+School+of+Business%E2%80%99+CEMS+master%27s+in+international+management+ranks+fourth+globally+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F10%2F02%2Fonsi-sawiris-school-of-business-cems-masters-in-international-management-ranks-fourth-globally%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\/10\/02\/onsi-sawiris-school-of-business-cems-masters-in-international-management-ranks-fourth-globally\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/494.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"672921\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/onsi-sawiris-school-of-business-cems-masters-in-international-management-ranks-fourth-globally\/494-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/494.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"494.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/494.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/494.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-672920\" class=\"content-area-description single-story post-672920 post type-post status-publish format-standard has-post-thumbnail hentry category-kudos tag-auc tag-enterpriseam tag-kudos 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\/10\/.8afc5c69-58b2-410f-b04d-6797d1958078.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You don\u2019t have to travel abroad to get a world-class business education<\/strong>, especially with the American University in Cairo\u2019s <a target=\"_blank\" href=\"https:\/\/business.aucegypt.edu\/\" style=\"\" rel=\"noopener\">Onsi Sawiris School of Business<\/a> offering one of the world\u2019s best-ranked management master\u2019s programs, according to a statement seen by EnterpriseAM. The business schools\u2019 <a target=\"_blank\" href=\"https:\/\/www.aucegypt.edu\/academics\/graduate-programs\/international-management-cems\" style=\"\" rel=\"noopener\">CEMS Master\u2019s in International Management program<\/a> now ranks fourth in the QS Master\u2019s in Management 2026 rankings, up six places from last year, with a score of 92.7.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The master's program ranked joint first globally for value for money<\/strong>, achieving a perfect score of 100, and ranked ninth globally for employability with a score of 89.5. The master's program achieved high rankings across all five QS indicators, including thought leadership (89.1), alumni outcomes (87), and diversity (85.1). It scored 100 in research impact, payback, international student ratio, and gender balance, and 99.9 in return on investment and international faculty ratio.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/auc\/\">AUC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"672922 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"672922\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/672922\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-672922\" class=\"content-area-description single-story post-672922 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.instagram.com\/reel\/DHs9VNZtJeS\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/770.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"672923\" 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=\"672923\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/emirati-port-operator-eyes-usd-1-bn-investment-in-our-ports\/\">\r\n                            Emirati port operator eyes USD 1 bn investment in our ports                        <\/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\/10\/02\/emirati-port-operator-eyes-usd-1-bn-investment-in-our-ports\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1673.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1673.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1673.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-672923\" class=\"content-area-description single-story post-672923 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-debt tag-enterpriseam tag-fdi tag-healthcare tag-hospitality tag-logistics tag-marriott tag-ports tag-tourism tag-uae 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\/10\/.a974cfa8-5fbc-4c88-8bdf-4d2f0ce59764.mp3\"><\/audio><\/figure><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>UAE\u2019s Gulftainer eyes USD 1 bn investment in our ports:<\/strong> Emirati port operator <a target=\"_blank\" href=\"https:\/\/www.gulftainer.com\/\" style=\"\" rel=\"noopener\">Gulftainer<\/a> is planning to invest USD 1 bn in Egypt\u2019s container terminal management and port logistics services, according to an Egyptian Commercial Representation Service <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/ecs.gov.eg\/posts\/pfbid0aCuVgQ2UbXRmF79EuCTr1F9HVY13zpJqLYQEXn88Ld6xcUZcJnYCeYtoKu6ZNquyl?locale=ar_AR\" style=\"\" rel=\"noopener\">statement<\/a>. This came during a meeting between Transport Minister Kamel El Wazir and company officials on the sidelines of the World Maritime Day Parallel Event in Dubai. The company is looking at managing and operating container terminals in East Port Said, Alexandria, or Damietta. <\/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>What\u2019s next? <\/strong>A delegation from the company will visit Egypt soon to assess opportunities ahead of potential agreements.<\/p><p class=\"tag-border-left\">HOSPITALITY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Cairo House Egypt is in line for a EGP 15 bn loan for its Mogamma revamp<\/strong> from a syndicate of banks led by Banque Misr and the Arab African International Bank, <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/banks\/100270\/%D9%82%D8%B1%D8%B6-%D8%A8312-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%84%D8%AA%D8%AD%D9%88%D9%8A%D9%84-%D9%85%D8%AC%D9%85%D8%B9-%D8%A7%D9%84%D8%AA%D8%AD%D8%B1%D9%8A%D8%B1-%D8%A5%D9%84%D9%89-%D9%81%D9%86%D8%AF%D9%82-%D8%B9%D8%A7%D9%84%D9%85%D9%8A\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing unnamed sources. The funds will go toward turning the former administrative juggernaut on Tahrir Square into a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/00c791e5-7c55-4dfe-a1b4-d13c6906d41f\/marriott%25e2%2580%2599s-autograph-collection-hotel-to-take-over-mogamma\" style=\"\" rel=\"noopener\">500-key luxury hotel<\/a> under Marriott\u2019s Autograph Collection brand of hotels.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #2- Sunrise Resorts &amp; Cruises is looking to open 50 new hotels in Egypt <\/strong>under an agreement with international hospitality giant and Minor International subsidiary Minor Hotels, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid026sq4BeuNoiG9cQDK6Q3hVEntWbPU3paJdZTbS4EdBwgzkud3XgtyLmHgCUGjkZDJl\" style=\"\" rel=\"noopener\">statement<\/a>. Four of the planned hotels will be launched in partnership with Madar Developments and will be housed in its developments. The extra 50 hotels would nearly triple Sunrise\u2019s current portfolio of hotels.<\/p><p class=\"tag-border-left\">HEALTHCARE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Healthcare leader Alameda Healthcare plans to invest USD 250 mn by <\/strong><strong>2028<\/strong>, with plans to add 600 new beds in three new hospitals, Group CEO Neeraj Mishra <a target=\"_blank\" href=\"https:\/\/estsmararabe.com\/%D8%A3%D9%84%D8%A7%D9%85%D9%8A%D8%AF%D8%A7-%D8%AA%D9%86%D8%B4%D8%A6-3-%D9%85%D8%B3%D8%AA%D8%B4%D9%81%D9%8A%D8%A7%D8%AA-%D8%A8%D9%85%D8%B5%D8%B1-%D8%A8%D9%80250-%D9%85%D9%84%D9%8A%D9%88\/\" style=\"\" rel=\"noopener\">said<\/a>. Some of the planned investments will be allocated to planned expansions in Saudi Arabia, Mishra added.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Italian investors have submitted an offer to the Health Ministry to set <\/strong><strong>up a <\/strong><strong>EGP 3 bn hospital in New Cairo<\/strong>, Health Ministry spokesperson Hossam Abdel Ghaffar told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2025\/09\/30\/%D9%85%D8%B3%D8%A4%D9%88%D9%84-%D8%AA%D8%AD%D8%A7%D9%84%D9%81-%D8%A7%D9%8A%D8%B7%D8%A7%D9%84%D9%8A-%D9%8A%D8%B3%D8%AA%D9%87%D8%AF%D9%81-%D8%A7%D9%86%D8%B4%D8%A7%D8%A1-%D9%85%D8%B3%D8%AA%D8%B4%D9%81%D9%89-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1-%D8%A8%D9%803-%D9%85%D9%84%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AC%D9%86%D9%8A%D9%87\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. The ministry has received around 15 offers from investors in Egypt, the Gulf, and Europe to operate between three and four hospitals, he added.<\/p><p class=\"tag-border-left\">M&amp;A WATCH- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mostakbal Misr Agency for Sustainable Development acquired 8.8% of <\/strong><strong>EGX-listed <\/strong><strong><a target=\"_blank\" href=\"https:\/\/icmiegypt.com\/en\" style=\"\" rel=\"noopener\">International Company for Medical Industries<\/a><\/strong> <strong> (ICMI)<\/strong><strong> for EGP 22.8 mn<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/10\/74.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>. The news follows the Egyptian Armed Forces-linked company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/be348cc5-4537-409b-aa26-e9b91d1326cc\/fra-greenlights-wafa,-raya-tender-offers-as-bids-go-live-on-egx\" style=\"\" rel=\"noopener\">increasing its stake<\/a> in the listed Mansoura Poultry Company to 22.5% from 4.8% for EGP 212.6 mn last week.<\/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 rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/marriott\/\">Marriott<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ports\/\">ports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/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=\"672925\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"672925\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/small-caps-soar-but-investor-cashflow-heads-for-the-exits\/\">\r\n                            Investors sell into small-cap surge amid trust deficit                        <\/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\/10\/02\/small-caps-soar-but-investor-cashflow-heads-for-the-exits\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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data-attachment-id=\"672926\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/small-caps-soar-but-investor-cashflow-heads-for-the-exits\/97-jpg-29\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/97.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"97.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/97.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/97.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-672925\" class=\"content-area-description single-story post-672925 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-capital-markets tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.0b31c6aa-845a-4e26-9029-9fe7ce63527c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>With a strong September comes an unexpected small-cap streak:<\/strong> The small-cap Russell 2000 has climbed to an all-time high after its longest run of weekly gains in nearly five years, boosted by US Federal Reserve rate cuts and a resilient US economy, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-09-30\/investors-pocket-gains-from-bets-on-risky-corner-of-stock-market\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. The small-cap index \u2014 which is historically seen as a \u201crisky corner\u201d of the US stock market \u2014 is outperforming as Wall Street unexpectedly recorded a positive September. Typically a negative month for equities, all three major US indices closed September in the green, marking their <a target=\"_blank\" href=\"https:\/\/www.marketwatch.com\/story\/the-s-p-500-and-nasdaq-are-set-for-their-best-september-in-over-15-years-can-the-momentum-last-through-year-end-26512858\" style=\"\" rel=\"noopener\">best September in 15 years<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Record outflows from iShares Russell 2000 ETF: <\/strong>Despite the rally, the iShares Russell 2000 ETF has seen USD 5.4 bn in outflows this year, putting it on track for its largest-ever annual withdrawal. While September inflows signaled some optimism, they were not enough to reverse the broader drawdown.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not all small-cap indexes are keeping pace: <\/strong>The Russell\u2019s breakout was not matched by higher-quality benchmarks like the S&amp;P Small Cap 600, which excludes weaker firms, Ned Davis Research noted. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lower borrowing costs boost appeal: <\/strong>Small caps typically do well in a strong economy with low interest rates, as many need to borrow to fund their operations. With the Federal Reserve now <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f4fa3768-a450-4162-a3d6-e6bdaa1bfbb6\/fed-cuts-rates-for-the-first-time-this-year,-resuming-widely-anticipated-easing-cycle\" style=\"\" rel=\"noopener\">lowering rates<\/a> and the economy on track for over 3% growth, investor confidence is tentatively returning, leading to positive fund inflows in September. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>However, confidence has been eroded by repeated setbacks:<\/strong> Small caps have lagged behind large peers since the pandemic, struggling in 2022\u2019s bear market and missing out on much of the AI-fueled rally that lifted the Nasdaq 100 by 50%. The Russell 2000 needed four years to reclaim a record high, underscoring the gap with tech-heavy indexes. Years of \u201cfalse dawns\u201d have left investors cautious, with many locking in gains quickly amid fears the rally won\u2019t last, said Bloomberg Intelligence\u2019s Athanasios Psarofagis. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fundamentals still a headwind: <\/strong>Meanwhile, slow Fed rate cuts and weak earnings prospects for small companies continue to weigh on fundamentals, with Wells Fargo analysts suggesting the rally may already be \u201cover,\u201d while Sykon Capita\u2019s Todd Stankiewicz argued that only a more supportive business environment will bring sustained inflows.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Long road to regain trust:<\/strong> It could take months, or a year, of consistent outperformance for small caps to regain investor trust, said Fulton Breakefield Broenniman\u2019s Michael Bailey. For now, investor preference remains tilted toward large caps and high-risk alternatives like AI stocks or crypto ETFs until the business environment turns more favorable, Stankiewicz and Wells Fargo said.<\/p><p class=\"tag-border-left\"> MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a positive morning so far for Asian markets<\/strong>, with South Korea\u2019s Kospi leading the pack as Samsung Electronics and SK Hynix rallied in early trading. The two firms announced a partnership overnight with OpenAI to supply memory chips. Meanwhile, Japan\u2019s Nikkei and Hong Kong\u2019s Hang Seng Index are both in the green.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, Wall Street looks set to shrug off the government shutdown<\/strong> and extend its rally, with futures suggesting the S&amp;P 500, Dow Jones, and Nasdaq will all open in the green later today as investors are expecting the shutdown to be short-lived.<\/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\">36,769<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +23.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 47.79<\/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\">Sell 47.93<\/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><\/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 47.82<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 47.92<\/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\">22.00% 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\">23.00% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,529<\/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: -4.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">10,028<\/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: +6.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,888<\/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: +14.2%)<\/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>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\">6,711<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +14.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,446<\/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: +15.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,581<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: +14.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 65.73<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6%<\/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 3.45<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 3,884<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 118,363<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+3.8% (YTD: +26.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">927.91<\/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: +19.3%)<\/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\">15.79<\/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: +7.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">16.29<\/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: -6.1%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 0.3% at yesterday\u2019s close<\/strong> on turnover of EGP 5.1 bn (14.0% above the 90-day average). Regional investors were the sole net sellers. The index is up 23.6% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Ibnsina Pharma (+2.8%), Qalaa Holdings (+2.4%), and Rameda (+2.4%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Misr Cement (-1.5%), Eastern Company (-1.4%), and Oriental Weavers (-0.9%).<\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"672927\" 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=\"672927\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/02\/my-morning-routine-tarek-shabaka-founder-and-ceo-of-mcs\/\">\r\n                            My Morning Routine: Tarek Shabaka, founder and CEO of MCS                        <\/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\/10\/02\/my-morning-routine-tarek-shabaka-founder-and-ceo-of-mcs\/\" 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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Speaking to us this week is Mideast Communication Systems (MCS) Founder and CEO Tarek Shabaka (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/tarek-shabaka-57b868225\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>). Edited excerpts from our conversation:<\/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>My name is Tarek Shabaka, and I am the CEO of Middle East Communication Systems. <\/strong>I\u2019m also on the board of the Chamber of Information Technology and Telecommunications, a member of the National Council for Women, and serve on the communications and AI committees at AmCham Egypt. I\u2019ve worked in telecommunications and cybersecurity since graduating from the Higher Technological Institute in Tenth of Ramadan City more than three decades ago. I hold an MBA from the Arab Academy for Science, Technology, and Maritime Transport and an MPA from Ain Shams University.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I founded MCS in 2007 to focus on cybersecurity technologies<\/strong>, which at the time were not widespread. I believed this field would be transformative for the tech industry and critical for institutions, companies, and individuals alike. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>After launching the company, I realized the field was far deeper and larger than I had <\/strong><strong>imagined. <\/strong>This pushed me to expand, recruit specialized talent, and invest heavily. Today, MCS is one of the leading companies in this field in Egypt and across the Middle East.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My starting point was joining Cisco after graduation, where I gained valuable <\/strong><strong>experience and exposure to diverse perspectives.<\/strong> That role gave me the confidence to take the leap and start MCS, even with all the risks involved.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Working at a global company like Cisco was a comfortable choice, but I wanted to take a <\/strong><strong>bold step into the unknown.<\/strong> The beginning of MCS wasn\u2019t easy, as we faced challenges related to the industry itself, and also a lack of experience, the company\u2019s young age, and the difficulty of building client trust. Over time, our expertise grew, and people\u2019s trust in us increased. The passion we started with became the launchpad for a successful venture.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AI has brought a major shift to cybersecurity.<\/strong> It\u2019s now an essential tool for detecting and responding to cyberattacks faster and more accurately than humans can. It also enables systems to address new forms of attacks, such as behavioral attacks and zero-day attacks. AI-powered systems can detect abnormal behavior and react, unlike older protection systems that relied only on signature-based monitoring.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So far, there is no evidence that AI-powered tools used in operations have caused <\/strong><strong>internal breaches. <\/strong>But technically, the risk remains, since we don\u2019t fully understand the depth of these tools. That makes caution necessary, even in the absence of proof. AI is multidimensional, so if the tools themselves contain vulnerabilities, they could lead to breaches.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019m a very routine-driven person.<\/strong> I wake up at 7:30am, but it doesn't take long for me to leave the house. I just have a light breakfast and coffee. On my way to the office, I use the time to make calls to early risers, check in on my mother and close friends, and organize my day. I wasn\u2019t a regular EnterpriseAM reader before, but recently I\u2019ve been paying a lot more attention, thanks to friends\u2019 recommendation. I miss my children a lot since they study abroad, but when my son Ahmed is home, we start the day with some activity or breakfast together. That\u2019s the closest thing I get to a family morning routine.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019m from a traditional generation that prefers working from the office<\/strong>, which I believe boosts productivity. That said, MCS gives employees the flexibility to work remotely. Once I get to the office, I start with emails and any overdue tasks, then sync with the team to review work plans and set priorities for the day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Reading is the habit I try to maintain daily.<\/strong> I have also recently adopted water fasting, where I abstain from everything but water for a day every two weeks or at least once a month. It gives me more energy and relaxation. In the evenings, I love spending time with friends whenever possible. Our get-togethers usually include playing cards or backgammon, which helps me unwind and clear my head from work stress.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For me, balance comes from clearly separating work and personal life. <\/strong>I make sure to start my workday early, then carve out time in the evenings to relax with friends. This separation helps me recharge and stay focused.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>History and technology are my main interests when it comes to reading. <\/strong>Some of my all-time favorite books are by Mohamed Hassanein Heikal, including <a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/book\/show\/8390446\" style=\"\" rel=\"noopener\">From New York to Kabul<\/a> and <a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/book\/show\/16095550\" style=\"\" rel=\"noopener\">Us\u2026<\/a><a target=\"_blank\" href=\"https:\/\/www.goodreads.com\/book\/show\/16095550\" style=\"\" rel=\"noopener\">and America<\/a>. I also recommend works by Moamen El Mohamady.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I also enjoy documentaries, especially those on history<\/strong> \u2014 like the world wars, the origins of the universe, or dinosaurs. They help me understand the present and anticipate the future.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The best piece of advice I ever received is \u201cIf you consult others, you reap the fruits of <\/strong><strong>their minds.\u201d<\/strong> I don\u2019t recall exactly who said it to me, but I think it captures the value of seeking people\u2019s opinions and expertise. Listening to different perspectives helps you form a deeper, more comprehensive vision before making decisions.<\/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\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cybersecurity\/\">cybersecurity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/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=\"672929\" 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\/10\/02\/672929\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-672929\" class=\"content-area-description single-story post-672929 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\">OCTOBER<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>29 September-6 October (Monday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/egyptinnovationweek.com\/2025\" style=\"\">Egypt Innovation Week<\/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>29 September-6 October (Monday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/technesummit.com\/2025\/investors\" style=\"\">Capital Connect<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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>4-6 October (Saturday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/technesummit.com\/2025\" style=\"\">Techne Summit Alexandria<\/a><\/span><span style=\"font-weight:400;\">, Alexandria Bibliotheca, 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;\">5 October (Sunday): S&P Global releases PMI figures for September <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7 October (Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/egyptforum2025.enterprise.news\/\" style=\"\">2025 EnterpriseAM Egypt Forum<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7-8 October (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/hace.com.eg\/\" style=\"\">HACE-Hotel Expo<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibitions Center. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7-9 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/egymedica.com\/\" style=\"\">EgyMedica Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Cairo International Convention Center.<\/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;\">12 October (Sunday): Capmas expected to release inflation figures for September.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-20 October (Sunday-Monday): Egypt to host the fifth edition of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aswanforum.org\/\" style=\"\">Aswan Forum<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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:400;\">Mid-October:  Capmas to publish the findings of its 2023-2024 income and expenditure survey.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">NOVEMBER<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 November (Saturday): The official opening of the Grand Egyptian Museum.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16-19 November (Sunday-Wednesday): <\/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>23-25 November (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/nebugoldexpo.com\/\" style=\"\">NEBU Expo 2025 gold and jewelry exhibition<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibitions Center, New 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;\">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>4-7 December (Thursday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/egystitchandtex.com\/garments\/\" style=\"\">Egy Stitch & Tex Expo 2025<\/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>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:1.15;orphans:2;widows:2;text-align:left\"><span>December<\/span><span style=\"font-weight:400;\">: Germany\u2019s North Rhine-Westphala business delegation to land 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;\">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>10-12 February (Tuesday-Thursday): Gitex Global\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/share\/p\/1QkF8DUZBj\/\" style=\"\">AI Everything Middle East & Africa<\/a><\/span><span style=\"font-weight:400;\"> Summit <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight: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=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/entlaq.com\/events\/2\" style=\"\">https:\/\/entlaq.com\/events\/2<\/a><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2027: Egypt to host EBRD\u2019s annual meetings for 2027.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">September 2028: First unit of the Dabaa nuclear power plant begins operations.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Sukuk issuance 6x oversubscribed | No electricity price hikes before 2026 | EGX extends gains in September.<\/p>\n","protected":false},"featured_media":672901,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-672900","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"fd7b22bc-0ad8-4e7f-a452-ffe77ebbb3d3","teaser":"Sukuk issuance 6x oversubscribed 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