{"id":675333,"date":"2025-11-12T00:00:00","date_gmt":"2025-11-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=675333"},"modified":"2025-12-18T09:28:21","modified_gmt":"2025-12-18T09:28:21","slug":"more-gulf-investments-coming-our-way","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/more-gulf-investments-coming-our-way\/","title":{"rendered":"More Gulf investments coming our way"},"content":{"rendered":"<section id=\"675335\" 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=\"675335\">\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\/11\/12\/madbouly-confirms-visit-from-imf-mission-within-weeks\/\">\r\n                            Madbouly confirms visit from IMF mission within weeks                        <\/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\/11\/12\/madbouly-confirms-visit-from-imf-mission-within-weeks\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-attachment-id=\"675336\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/madbouly-confirms-visit-from-imf-mission-within-weeks\/1071-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1071.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1071.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1071.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1071.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-675335\" class=\"content-area-description single-story post-675335 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-imf tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/11\/.c581b79d-3dba-497d-99a2-7c869fa79c8b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends. <\/strong>For the second morning this week we lead the news well with news of incoming Gulf investments, this time from Kuwait, with sources telling us that we can expect the country to finalize an agreement for the first tranche of its USD 3 bn investment package within weeks. <\/p>\n<p class=\"tag-border-left\">PSA- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>Cairo is in for its coolest day yet this fall, with the capital looking at a high of 26\u00b0C and a low of 18\u00b0C, according to our favorite weather app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s even cooler in Alexandria<\/strong>, which is in for a high of 27\u00b0C and a low of 16\u00b0C.<\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- MADBOULY CONFIRMS- A mission from the International Monetary Fund will <\/strong><strong>touch down in Cairo within weeks<\/strong> for the fifth and sixth reviews of our USD 8 bn Extended Fund Facility, Prime Minister Moustafa Madbouly said during his weekly presser (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/videos\/603034836200087\" style=\"\" rel=\"noopener\">watch, runtime: 47:35<\/a>). <\/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 reported <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4935264c-ba9e-49ef-be64-634f05c936da\/%253cmark%253eimf%253c%2Fmark%253e-delegation-to-arrive-in-cairo-this-month-following-subsidy,-fdi,-privatization-progress\" style=\"\" rel=\"noopener\">earlier this week<\/a> that a mission from the Fund is expected to land in Cairo in the second half of November to discuss \u2014 and potentially greenlight \u2014 the combined reviews, following improvements in the key indicators the fund had been watching.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO FROM THE PRESSER-<\/strong> Egypt aims to attract large-scale automotive factories with annual production capacities of at least 100k vehicles, Madbouly said during the presser. Building a strong local industry, he said, requires boosting domestic output across all vehicle types to over 500k units a year.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- The Egyptian Electricity <\/strong><strong>Transmission Company has earmarked EGP 6.5 <\/strong><strong>bn to <\/strong><strong>upgrade the national electricity grid before next summer<\/strong>, a government source told EnterpriseAM. Under the plan, the state will add 5k km of power transmission lines and nine medium-voltage transformers to help process an additional 6.4 GW that will be added to the grid next year from renewables.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s push to upgrade its grid isn\u2019t just about increasing capacity. <\/strong>Traditional power grids, designed around centralized fossil\u2011fuel plants with steady output, are ill\u2011suited to manage the fluctuating, decentralized, and bidirectional flows created by rising shares of wind and solar. The upgrades planned by next summer aim to increase power supply, stabilize voltage, and accommodate the expected surge in demand in the summer, our source told us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/401c1554-c09f-4103-bb20-63ab7a8308b3\/a-liberal-electricity-market-is-coming,-but-how-ready-is-the-grid%3F\" style=\"\" rel=\"noopener\">EGP 7 bn worth of transmission network upgrades<\/a><\/strong><strong> were completed during the last <\/strong><strong>fiscal year<\/strong> to accommodate the increasing renewable energy capacity.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Chinese e-commerce giant Alibaba<\/strong><strong> is in talks with the Unified Procurement Authority <\/strong><strong>(UPA) to set up a regional logistics and e-commerce hub <\/strong>within the UPA's strategic warehouse facilities, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0WoUd4zs9e82Xte9va8AEYTSkTSgioLAoFZUeYaV22H7JSGzQqSVfViYJcx8bsBqPl\" style=\"\" rel=\"noopener\">statement<\/a>. The hub would allow Alibaba to expand its operations into African markets and its access to other global markets. The pair also discussed setting up a platform to facilitate e-commerce flows between MENA and the African continent.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Egypt, China ink MoU to expand SCZone cooperation:<\/strong> The Suez Canal Economic Zone (SCZone) and China\u2019s Commerce Ministry signed an MoU to deepen cooperation on developing the Chinese-operated TEDA industrial zone in Ain Sokhna, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1397399135763836?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a>. The agreement aims to expand collaboration on special economic zone development, encourage more Chinese firms to invest in Egypt, and strengthen industrial integration and supply chains.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Have you checked out EnterpriseAM MENA &lt;&gt; India? It's our newest briefing tracking one of the world's most dynamic trade, investment, and cultural corridors. Every Monday, Wednesday, and Friday, we'll track the transactions, trends, and market moves connecting these two dynamic regions. The flow of capital, talent, and trade between MENA and the Indian subcontinent is one of the most important economic stories in the world \u2014 and we\u2019re telling as only we can.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">If you\u2019re investing, trading, or scouting for your next big move in MENA or India, subscribe to EnterpriseAM MENA &lt;&gt; India by tapping <strong><a target=\"_blank\" href=\"https:\/\/sub.ent.news\/mena-india\" style=\"\" rel=\"noopener\">here<\/a><\/strong> to get the strategic intelligence you need.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p class=\"tag-border-left\">FROM THE DEBT MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>A successful USD t-bill auction: <\/strong>The Central Bank of Egypt auctioned off USD 1.55 bn worth of USD-denominated one-year treasury bills yesterday, slightly above the initially targeted USD 1.5 bn, according to the <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/en\/auctions\/usd-t-bills\" style=\"\" rel=\"noopener\">lender\u2019s website<\/a>. The bills were sold at an average yield of 3.75%, marking a 0.50 percentage point drop from the average yield on similar bills sold <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/71f36aac-b15b-48e1-96bc-83e02d5239ae\/could-egypt-soon-be-home-to-an-official-apple-store%3F\" style=\"\" rel=\"noopener\">throughout the year<\/a>.<\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Foreign Minister Badr Abdelatty and his Turkish counterpart Hakan Fidan <\/strong><strong>will meet in Ankara today to discuss the Gaza ceasefire <\/strong>and international reconstruction efforts once the conflict ends, a Turkish Foreign Ministry source told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/turkish-egyptian-foreign-ministers-discuss-gaza-ceasefire-post-war-efforts-2025-11-11\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. The talks will focus on the next steps in the US-brokered truce and efforts to rebuild the enclave. The ministers will also hold the first meeting of the Turkey-Egypt Joint Planning Group in preparation for high-level talks in Cairo next year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong> <strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.globalphdc.com\/\" style=\"\" rel=\"noopener\">Global Congress on Population, Health, and Human Development<\/a><\/strong> <strong> kicks off today in the New Capital<\/strong> under the theme Empowering People, Advancing Progress, and Unlocking Opportunities. The event will run until 15 November and will bring together global leaders, policymakers, and health experts to discuss strategies for advancing sustainable development, equitable access to healthcare, and more.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The third of four weekly special issues about the GEM will land in your inbox <\/strong><strong>later this morning<\/strong>, charting the museum\u2019s journey from the launch of a record-breaking international design competition to the final stages of completion and capturing the challenges, milestones, and unwavering ambition that brought it to life.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Missed the first two issues of the series? Catch up here:<\/strong> (<a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/afaeb56d-3dfa-4cc5-bb25-04efd21bf58f\/the-backstory\" style=\"\" rel=\"noopener\">The backstory<\/a> | <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/81a19079-3987-4487-a193-ffe8b5fb7131\/opening-night\" style=\"\" rel=\"noopener\">Opening Night<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/archive\/list\/1\/17\/unveiling-the-gem\/0\/0\/25\/1\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/844.jpg?ssl=1\"><\/a> <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Housing Ministry to offer 25k units next week:<\/strong> Starting next Sunday, the Housing Ministry will begin offering 25k housing units under the second phase of its 400k-unit housing program via the <a target=\"_blank\" href=\"https:\/\/realestate.gov.eg\/\" style=\"\" rel=\"noopener\">Egyptian Real Estate Platform<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1397376252432791?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a>. Application details and brochures will be available on the platform starting today.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** 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>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No one story dominated the front pages this morning<\/strong>, with headlines moving between AI bubble fears, a trouble-laden COP30 in Brazil, and the anticipated end to the US government shutdown.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SoftBank\u2019s shares plunged 10% in early trading despite strong quarterly results<\/strong>, after the Japanese giant sold its entire stake in US chipmaker Nvidia for USD 5.8 bn. The sale comes amid mounting fears of inflated capital investments in AI that are yet to produce certain returns. Nvidia\u2019s shares closed down 3% yesterday. (<a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/11\/12\/softbank-shares-plunge-as-much-as-10percent-after-selling-nvidia-stake.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/media-telecom\/softbanks-58-billion-nvidia-stake-sale-stirs-fresh-ai-bubble-fears-2025-11-11\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/5f04e0e2-7a9c-4885-92a3-9ed5242c7d38\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- A controversial COP30 kicked off yesterday in Bel\u00e9m<\/strong>, known as the gateway to the Amazon. Brazil wants to draw the focus to rainforests, aiming to raise USD 125 bn for a global forest protection fund. However, a recent government approval of oil drilling at the mouth of the Amazon River, a severe lack of hotel rooms at the Brazilian city, and clashes with indigenous protestors who forced their way inside the venue have marred the summit with controversies and accusations of hypocrisy. (<a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2025\/11\/11\/climate\/cop30-explainer-belem-brazil\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/cop\/protestors-force-their-way-into-cop30-venue-clash-with-security-2025-11-11\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The US House of Representatives is returning on Tuesday<\/strong>, to vote on a funding measure that is set to end the longest government shutdown in history. The reopening would put issues of healthcare affordability front and center, as both parties stand to gain (and lose) ground with voters ahead of midterm elections next November. (<a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2025\/11\/11\/politics\/government-shutdown-trump-rebate-checks-gop-health-care-analysis\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/us-house-returns-washington-vote-end-government-shutdown-2025-11-11\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/11\/11\/us\/politics\/democrats-shutdown.html\" style=\"\" rel=\"noopener\">New York Times<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2503.jpg?ssl=1\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> EnterpriseAM\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We take a look to see if the wider adoption of fixed-schedule rail services could help Egypt achieve its rail freight targets.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/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=\"675337 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=\"675337\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/675337\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-675337\" class=\"content-area-description single-story post-675337 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\/10\/1453.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:400;\">The Opening of The Kaktus Hotel marks a new destination in Somabay, inspired by active lifestyle and culinary destination offerings. The Kaktus has finally bloomed on the Red Sea.<\/span><\/p>\n<p><span>#Lovesomalivekaktus<\/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=\"675338\" 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=\"675338\">\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\/11\/12\/kuwait-to-finalize-agreement-for-first-tranche-of-usd-3-bn-investment-package-within-weeks\/\">\r\n                            Kuwait to finalize agreement for first tranche of USD 3 bn Egyptian investment package within weeks                        <\/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\/11\/12\/kuwait-to-finalize-agreement-for-first-tranche-of-usd-3-bn-investment-package-within-weeks\/\" 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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Negotiations between both parties are ongoing, with the two sides expected to reach an agreement on the first tranche of the planned investment before the end of 2025 or in 1Q 2026.<\/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 Gulf nation is interested in investing across multiple sectors \u2013 not just real estate <\/strong><strong>development<\/strong>, which has dominated bit-ticket investment flows incoming from the GCC. Kuwait is taking an interest in our ports, logistics infrastructure, industry, and renewables, we were told.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It may also play a part in our airport privatization push<\/strong>, with officials from the country having expressed interest in the first offering currently being prepared in collaboration with the International Finance Corporation (IFC) and expected to be launched before the end of the year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The IFC unveiled a list of 11 Egyptian airports slated for development through public-private partnerships back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a3387238-7027-4c78-9e33-b09973683ded\/ifc-unveils-list-of-airports-to-be-developed-through-ppps\" style=\"\" rel=\"noopener\">March<\/a>. Hurghada International Airport will serve as a pilot project for the program. Civil Aviation Minister Sameh Elhefny earlier this year <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/def40107-8b92-44e1-bf6d-18e917ce3ae9\/gov%25e2%2580%2599t-to-kick-off-the-search-for-partner-to-upgrade%253cmark%253e-hurghada%253c%2Fmark%253e-airport-next-month\" style=\"\" rel=\"noopener\">said<\/a> that the government will launch the tender to select a strategic private partner for maintaining, operating, and upgrading the Hurghada International Airport next February. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The investments will be partly funded by converting deposits it holds in Egypt\u2019s central <\/strong><strong>bank<\/strong>, in addition to direct investments into industrial and banking assets, data centers, and various industries, our sources told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This has been in the works for a while:<\/strong> Kuwait has been in talks over turning the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/efd27807-67fa-47bc-a89a-3102c9da418f\/%253cmark%253e%253c%2Fmark%253ekuwait%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253emulls%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eturning%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eusd%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253e4%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ebn%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eof%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253edeposits%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253einto%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253edirect%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253einvestments%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">USD 4 bn<\/a> of deposits it holds in Egypt\u2019s central bank into direct investments across several sectors since <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfd36e99-780f-4a23-9cb2-7f79d9b55a64\/what-does-the-imf-slashing-surcharges-mean-for-egypt%3F\" style=\"\" rel=\"noopener\">October 2024<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kuwait is also capitalizing on Egyptian debt:<\/strong> Earlier this year, Kuwait Finance House fully subscribed to Egypt\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\">USD 1\u202fbn<\/a> sovereign sukuk issuance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gulf investors \u2764\ufe0f Egypt:<\/strong> The news of fresh Kuwaiti investments comes only days after Qatar inked an agreement to set up a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9d35c52c-bfb7-45b7-84a2-df50aafc5653\/qatar-to-invest-usd-29.7-bn-in-north-coast-project\" style=\"\" rel=\"noopener\">USD 29.7 bn<\/a> North Coast project, as part of a wider <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/71a18642-bf84-4b50-bc8e-ece4d823f652\/qatar-work-on-usd-7.5-bn-in-new-investments-to-egypt\" style=\"\" rel=\"noopener\">USD 7.5 bn<\/a> direct investment package. Meanwhile, Saudi Arabia is planning to convert some of its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/01ae0960-a89d-4d66-abcb-50b6e05796af\/saudi-deposits-could-be-converted-into-new%253cmark%253e-investments%253c%2Fmark%253e-in-real-estate-among-other-sectors\" style=\"\" rel=\"noopener\">USD 10.3 bn<\/a> in deposits into investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Egypt is working toward attracting <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/067ba81c-e766-415f-b4fd-411d7fd49186\/a-look-into-the-government%25e2%2580%2599s-economic-targets-for-the-next-four-fiscal-years\" style=\"\" rel=\"noopener\">USD 42 bn<\/a> in net FDI this fiscal year, with plans to increase that figure to USD 55 bn in FY 2028-2029. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-kuwait-relations\/\">Egypt-Kuwait 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\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"675340 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=\"675340\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/675340\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-675340\" class=\"content-area-description single-story post-675340 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\/11\/780.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"675341\" 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=\"675341\">\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\/11\/12\/local-sukuk-issuance-take-two\/\">\r\n                            Egypt set to issue second tranche of maiden local sukuk within days                        <\/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\/11\/12\/local-sukuk-issuance-take-two\/\" 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\/11\/12\/local-sukuk-issuance-take-two\/')\">\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\/11\/12\/local-sukuk-issuance-take-two\/\">\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=Local sukuk issuance, take two&url=https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/local-sukuk-issuance-take-two\/\">\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\/11\/12\/local-sukuk-issuance-take-two\/&title=Local sukuk issuance, take two\">\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=Local+sukuk+issuance%2C+take+two+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F11%2F12%2Flocal-sukuk-issuance-take-two%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\/11\/12\/local-sukuk-issuance-take-two\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/2510.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"675342\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/local-sukuk-issuance-take-two\/2510-jpg-35\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/2510.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2510.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/2510.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/2510.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-675341\" class=\"content-area-description single-story post-675341 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt tag-debt-watch tag-enterpriseam tag-finance-ministry 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\/11\/.7f3fce62-bb9b-4c59-a85e-0a87f76058ea.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Finance Ministry is set to issue the second EGP 3 bn tranche of Egypt\u2019s <\/strong><strong>first-ever local sukuk next Monday<\/strong>, a senior government official with knowledge of the matter told EnterpriseAM. The issuance settlement is scheduled for the following day. <\/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 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44a547c7-2cc7-4a57-b15b-e225abe6a30f\/our-maiden-local%2525253cmark%2525253e-sukuk%2525253c%25252Fmark%2525253e-issuance-was-5x-oversubscribed\" style=\"\" rel=\"noopener\">first tranche<\/a> of our maiden local sukuk issuance was almost 5x oversubscribed, attracting an order book of EGP 14.9 bn earlier this month. The Finance Ministry received 63 offers from banks participating in the auction but only accepted 10, covering its EGP 3 bn target. The high demand brought yields down to 21.56% from 28% as a competitive pricing mechanism was employed, our sources told us at the time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the new issuance: <\/strong>The second tranche is a three-year ijara issuance \u2014 a leasing-based Islamic security \u2014 with a semi-annual return, and is linked to assets owned by the Finance Ministry, our source confirmed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We now have an attractive yield precedent:<\/strong> The low yield on the first issuance \u201chas set a good pricing structure to be relied on for the periodic issuance of shariah-compliant instruments,\u201d according to the source. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The issuance is part of a wider sukuk program<\/strong>, which was recently quadrupled on the back of strong demand to EGP 200 bn for the fiscal year, a senior government source told us. The government originally planned to take EGP 25 bn worth of local sukuk to market this fiscal year, before <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bf61794d-31ee-4f93-9f1b-0b7aa86322c9\/egypt-to-issue-its-first-ever-egp-denominated-sukuk-this-month\" style=\"\" rel=\"noopener\">doubling<\/a> its target amid strong appetite.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The program is part of the Finance Ministry\u2019s strategy to diversify its debt issuances<\/strong> in efforts to decrease the cost and burden associated with servicing the public debt, which consumes 80% of revenues and 50% of general expenditures. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"675343\" 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=\"675343\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/qatars-usd-30-bn-north-coast-investment-is-boon-for-egypts-credit-position-moodys\/\">\r\n                            Qatar\u2019s USD 30 bn North Coast investment is boon for Egypt\u2019s credit position, but borrowing costs remain elevated -Moody\u2019s                        <\/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\/11\/12\/qatars-usd-30-bn-north-coast-investment-is-boon-for-egypts-credit-position-moodys\/\" 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 positive credit momentum from the agreement \u2014 which the Madbouly government signed with Qatar Investment Authority-owned Qatari Diar <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b2a719d8-0048-49cb-99ea-7376e75ecf4b\/%253cmark%253eqatar%253c%2Fmark%253e-signs-agreement-for-usd-30-bn-north-coast-project\" style=\"\" rel=\"noopener\">last week<\/a> \u2014 is also complemented by other macro developments, including our <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c64ad0cb-f3a5-4d5f-8e2c-7658c1a7c9a9\/current-account-deficit-narrows-to-usd-15.4-bn-in-fy-2024-25\" style=\"\" rel=\"noopener\">narrowed current account deficit<\/a>, higher tax collections, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bab7fde0-b838-45a2-8824-622c4caef1cc\/\" style=\"\" rel=\"noopener\">record primary budget surplus<\/a> in FY 2024-25.<\/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 investment agreement also bolsters Egypt\u2019s position as an attractive destination for <\/strong><strong>GCC foreign direct investments<\/strong>, with more investments expected from Saudi Arabia and Kuwait in the coming years, according to Moody\u2019s. These FDI inflows are expected to stabilize the exchange rate and improve investor confidence, which should, in turn, translate into lower and more sustainable inflation rates, the ratings agency said. The ultimate result would be reduced borrowing costs for the government and an improvement in overall debt affordability.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT- Debt servicing remains a key challenge:<\/strong> Despite recent developments throughout the past year with regard to inflation and interest rates, debt servicing costs are still elevated, the research note says. The yield on government T-bills dropped to 27% this month, compared to 31% in December 2024, indicating that the government\u2019s borrowing rate did not cool at the same pace as inflation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt continues to have weak debt affordability<\/strong>, with Moody\u2019s noting that \u201cthe country ranks among the top three sovereigns we rate with the highest interest payments to revenue ratio, which stood at more than 63% for the consolidated general government\u201d in FY 2024-25. When accounting for interest expenses on T-bills and zero-coupon bonds, the ratio would come in above 95%, \u201cimplying that the government is spending nearly all of its revenue on debt service,\u201d the note explains. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s upside in the outlook:<\/strong> As interest rates continue easing over the next few quarters, the interest-to-revenue ratio is expected to cool to 40% by 2030, excluding interest expense on T-bills and zero-coupon bonds. As government debt should mature within 1.6 years, interest bills should come down quickly. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"675345\" 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=\"675345\">\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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/qalaa-holdings-to-unlock-value-through-egx-listings-convertible-bonds-and-portfolio-optimization\/\">\r\n                            Qalaa Holdings to unlock value through EGX listings, convertible bonds, and portfolio optimization                        <\/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 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/833.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"833.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/833.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/833.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-675345\" class=\"content-area-description single-story post-675345 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-capital-markets tag-egx tag-enterpriseam tag-qalaa-holdings 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\/11\/.68b2042c-3d46-4cfc-a8ae-4cad3317e947.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Qalaa makes good on its investor promises with IPO, funding, and asset-sale <\/strong><strong>push: <\/strong>Qalaa Holdings is moving ahead with the growth and deleveraging strategy it outlined in its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3cf13d07-f1d9-4dd4-a346-fe68de1ae1c4\/%253cmark%253eqalaa%253c%2Fmark%253e-holdings-and-abu-qir-fertilizers-post-their-earnings\" style=\"\" rel=\"noopener\">1Q results<\/a>, with the board approving plans to pursue five potential EGX listings, issue up to USD 200 mn in convertible bonds, and sell stakes in three subsidiaries, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/11\/782.pdf\" style=\"\" rel=\"noopener\">bourse 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>Delivering on earlier guidance: <\/strong>In its earnings release two weeks ago, Qalaa said it was preparing four IPOs for its subsidiaries over the next two years to \u201cunlock shareholder value and enhance financial flexibility,\u201d and pursue price discovery for its shares in these subsidiaries. That pipeline has now expanded to five, underscoring the group\u2019s accelerating execution.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s lining up for the float: <\/strong>Subsidiaries under review include <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e46342ad-04ad-4844-a459-41416363fbcb\/a-romanian-industrial-zone%3F\" style=\"\" rel=\"noopener\">Dina Farms for Food<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e46342ad-04ad-4844-a459-41416363fbcb\/a-romanian-industrial-zone%3F\" style=\"\" rel=\"noopener\">Industries<\/a> (advised by EFG Hermes), National River Ports Management (advised by Zilla Capital), ASEC for Automation, and two undisclosed companies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Debt and capital optimization: <\/strong>The planned USD 200 mn convertible bond issue aims to reduce debt, cut financing costs, and channel fresh capital into Qalaa\u2019s high-growth platforms. The company will also consider selling two wholly owned subsidiaries and a minority stake in another while retaining control.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>A convertible bond is a hybrid instrument that allows investors to exchange debt for equity at a preset price. For issuers, it offers cheaper financing in exchange for potential future dilution; for investors, it provides bond-like downside protection with equity-style upside.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context:<\/strong> Qalaa reported EGP 37.2 bn in revenue in 1Q 2025, broadly stable y-o-y, with strong growth across ASEC, ASCOM, Taqa Arabia, and CCTO offsetting weaker refining margins at its ERC arm. Excluding ERC, the group delivered a 24% jump in revenue, proof of the underlying strength in its non-refining portfolio. The company is targeting a debt reduction of around EGP 30 bn this year, supported by ERC\u2019s accelerated repayments \u2014 the refinery remains on track to fully repay its senior debt by early 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax: <\/strong>Qalaa\u2019s stock price shed 0.7% to close at EGP 2.71 yesterday.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qalaa-holdings\/\">Qalaa Holdings<\/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=\"675347\" 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=\"675347\">\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\">Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/egypt-bans-sugar-imports-for-three-months\/\">\r\n                            Egypt bans sugar imports for three months                        <\/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\/11\/12\/egypt-bans-sugar-imports-for-three-months\/\" 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\/11\/12\/egypt-bans-sugar-imports-for-three-months\/')\">\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\/11\/12\/egypt-bans-sugar-imports-for-three-months\/\">\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=Egypt bans sugar imports for three months&url=https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/egypt-bans-sugar-imports-for-three-months\/\">\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\/11\/12\/egypt-bans-sugar-imports-for-three-months\/&title=Egypt bans sugar imports for three months\">\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=Egypt+bans+sugar+imports+for+three+months+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F11%2F12%2Fegypt-bans-sugar-imports-for-three-months%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\/11\/12\/egypt-bans-sugar-imports-for-three-months\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1608.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"675348\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/egypt-bans-sugar-imports-for-three-months\/1608-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1608.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1608.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1608.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1608.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-675347\" class=\"content-area-description single-story post-675347 post type-post status-publish format-standard has-post-thumbnail hentry category-commodities tag-commodities tag-enterpriseam tag-trade 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\/11\/.3e0f9741-125e-4b76-93bd-baeb17c2eaf6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Investment Ministry<\/strong><strong> has decided to ban the import of refined sugar for <\/strong><strong>commercial purposes for three months<\/strong>, except with prior import approvals for the required quantities, to be signed off by the investment and supply ministers, according to a decision seen by EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The decision comes amid a surge in local sugar production<\/strong>, which has driven prices down significantly due to market supply and demand dynamics and increased competition among domestic producers, a government source told EnterpriseAM. This has left little room for additional competition from imported sugar in the local market, the source added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Producers have been struggling with oversupply<\/strong>, a sentiment sugar manufacturers expressed to the investment minister in a meeting that preceded the decision. Producers highlighted that the current oversupply, coupled with halted exports, has led to losses, the source said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- It wasn\u2019t long ago that we had the<\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/698a614e-690e-4dd7-a3eb-0e05570682f0\/the-usd-is-to-blame-for-the-lack-of%253cmark%253e-sugar%253c%2Fmark%253e-in-the-market\" style=\"\" rel=\"noopener\">complete opposite problem<\/a><\/strong>, with many of us in 2023 and 2024 going without the sweet stuff in our morning cup of Joe as sugar became increasingly hard to find on supermarket shelves. At the time, insiders blamed unorganized distribution channels, a volatile pre-float exchange rate, and declining local production.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sugar prices have fallen sharply in recent weeks<\/strong>, pushing down consumer prices but causing losses for manufacturers. The price per ton dropped to EGP 21-22k from around EGP 27-28k, while input costs have continued to rise \u2014 prompting calls to curb imports that threaten the competitiveness of local producers, member of the Chambers of Commerce's Food Division Hazem El Menoufy told EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ban aims to support domestic production and encourage reliance on local output<\/strong>, which should help strengthen the economy and ease pressure on foreign currency, El Menoufy said. The decision is expected to help stabilize prices over the medium term, improve the competitiveness of local producers, and ensure steady market availability.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"675349\" 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=\"675349\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/more-details-on-alstoms-multi-mn-eur-borg-el-arab-complex\/\">\r\n                            More details on Alstom\u2019s multi-mn-EUR Borg El Arab complex                        <\/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       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href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/more-details-on-alstoms-multi-mn-eur-borg-el-arab-complex\/\">\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=More details on Alstom\u2019s multi-mn-EUR Borg El Arab complex&url=https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/more-details-on-alstoms-multi-mn-eur-borg-el-arab-complex\/\">\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\/11\/12\/more-details-on-alstoms-multi-mn-eur-borg-el-arab-complex\/&title=More details on Alstom\u2019s multi-mn-EUR Borg El Arab complex\">\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=More+details+on+Alstom%E2%80%99s+multi-mn-EUR+Borg+El+Arab+complex+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F11%2F12%2Fmore-details-on-alstoms-multi-mn-eur-borg-el-arab-complex%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\/11\/12\/more-details-on-alstoms-multi-mn-eur-borg-el-arab-complex\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/841.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"675350\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/more-details-on-alstoms-multi-mn-eur-borg-el-arab-complex\/841-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/841.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"841.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/841.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/841.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-675349\" class=\"content-area-description single-story post-675349 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-alstom tag-enterpriseam tag-investment-watch tag-manufacturing tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/11\/.9192a559-6af2-4d53-a839-bef7bb62d0c2.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>What\u2019s the latest on Alstom\u2019s Borg El Arab complex? <\/strong>French rolling stock company Alstom has upped the investment ticket for its Borg El Arab railway manufacturing complex to up to EUR 100 mn, Alstom Egypt Managing Director Ramy Salah Eldeen told EnterpriseAM on the sidelines of TransMEA yesterday. <\/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>Alstom <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac89de42-c6b1-4448-8b2d-b8c1c7be301e\/egypt,-france-sign-several-financing,-cooperation-agreements-during-macron%25e2%2580%2599s-visit\" style=\"\" rel=\"noopener\">inked<\/a> a land usufruct agreement with the General Authority for Land and Dry Ports for the project in April \u2014 a time when the project had a EUR 80 mn price tag. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the complex: <\/strong>It will feature two factories \u2014 the first for manufacturing electrical and signaling systems for local projects and exports. Exports from the plant are expected to hit EUR 50-70 mn annually. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Production timeline:<\/strong> The first factory will go online by the end of 2026, while the metro car factory will go online mid-2026, Salah Eldeen said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Freight wagons could be next in line:<\/strong> While the focus is currently on metro cars, Alstom is open to producing freight wagons once production at the new complex stabilizes, Salah Eldeen said. \u201cWe\u2019ll study this step later once we\u2019ve expanded our current output and the facility is ready to meet demand efficiently.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A hub for smart rail expo<\/strong><strong>rts to Africa:<\/strong> Alstom aims to turn the complex into a manufacturing and export base for smart rail systems in Africa, leveraging Egypt\u2019s strategic location and industrial development to expand into regional markets, Salah Eldeen said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alstom\/\">Alstom<\/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\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"675351\" 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=\"675351\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/arab-african-banks-leasing-arm-closed-its-first-securitization-raising-egp-804-mn\/\">\r\n                            Arab African Bank\u2019s leasing arm closed its first securitization, raising EGP 804 mn                        <\/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\/11\/12\/arab-african-banks-leasing-arm-closed-its-first-securitization-raising-egp-804-mn\/\" 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\/11\/12\/arab-african-banks-leasing-arm-closed-its-first-securitization-raising-egp-804-mn\/')\">\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\/11\/12\/arab-african-banks-leasing-arm-closed-its-first-securitization-raising-egp-804-mn\/\">\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=Arab African Bank\u2019s leasing arm closed its first securitization, raising EGP 804 mn&url=https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/arab-african-banks-leasing-arm-closed-its-first-securitization-raising-egp-804-mn\/\">\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\/11\/12\/arab-african-banks-leasing-arm-closed-its-first-securitization-raising-egp-804-mn\/&title=Arab African Bank\u2019s leasing arm closed its first securitization, raising EGP 804 mn\">\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=Arab+African+Bank%E2%80%99s+leasing+arm+closed+its+first+securitization%2C+raising+EGP+804+mn+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F11%2F12%2Farab-african-banks-leasing-arm-closed-its-first-securitization-raising-egp-804-mn%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\/11\/12\/arab-african-banks-leasing-arm-closed-its-first-securitization-raising-egp-804-mn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/836.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"675352\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/arab-african-banks-leasing-arm-closed-its-first-securitization-raising-egp-804-mn\/836-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/836.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"836.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/836.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/836.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-675351\" class=\"content-area-description single-story post-675351 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt tag-debt-watch tag-enterpriseam tag-securitization 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\/11\/.40429168-25f3-4e29-8d95-d1c9425a3f32.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Arab African International Leasing (AAIL) wrapped up its first securitized <\/strong><strong>bond <\/strong><strong>issuance, raising EGP 804 mn<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/11\/812.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. Proceeds will go toward diversifying AAIL\u2019s funding base and supporting expansion in the leasing market. The company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/20df363c-21ee-4837-ba2f-f689a7eeec52\/aail-eyes-a-securitization-this-year-%2B-plans-to-launch-a-factoring-arm\" style=\"\" rel=\"noopener\">first signaled plans<\/a> for a securitization in 2022.<\/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 three-tranche offering was 205% covered<\/strong>, reflecting a strong investor appetite. The issuance came in three tranches, with tenors ranging from 25 and 44 months and ratings ranging from AA+ to A from Middle East Ratings and Investor Services (Meris).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>CI Capital acted as the sole financial advisor, issuance manager, bookrunner, and lead arranger, while Baker Tilly served as the issuance's auditor. Barakat, Maher & Partners in association with Clyde & Co provided counsel.<\/p>\n<p class=\"tag-border-left\">IN OTHER DEBT NEWS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Amer Group subsidiaries \u2014 Amer for Touristic Development and Tropi 2 for <\/strong><strong>Touristic <\/strong><strong>Development \u2014 closed an EGP 451 mn securitized bond issuance<\/strong>, as part of a three-year EGP 4 bn multi-issuance program, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/11\/814.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The three-tranche issuance received ratings ranging between AA+ and A- from Meris. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Our friends at EFG Hermes acted as financial advisor, lead arranger, and underwriter for the transaction. Al Baraka Bank and CIB joined as underwriter, while CIB also served as custodian. Dreny & Partners provided counsel. Industrial Development Bank was the bookrunner, while KPMG acted as the auditor.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/securitization\/\">securitization<\/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=\"675353\" 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=\"675353\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/madinet-masr-rameda-report-3q-earnings\/\">\r\n                            Madinet Masr, Rameda report 3Q earnings                        <\/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\/11\/12\/madinet-masr-rameda-report-3q-earnings\/\" 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\/11\/12\/madinet-masr-rameda-report-3q-earnings\/')\">\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\/11\/12\/madinet-masr-rameda-report-3q-earnings\/\">\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=Madinet Masr, Rameda report 3Q earnings&url=https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/madinet-masr-rameda-report-3q-earnings\/\">\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\/11\/12\/madinet-masr-rameda-report-3q-earnings\/&title=Madinet Masr, Rameda report 3Q earnings\">\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=Madinet+Masr%2C+Rameda+report+3Q+earnings+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F11%2F12%2Fmadinet-masr-rameda-report-3q-earnings%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\/11\/12\/madinet-masr-rameda-report-3q-earnings\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2070.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"675354\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/madinet-masr-rameda-report-3q-earnings\/2070-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2070.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2070.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2070.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2070.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-675353\" class=\"content-area-description single-story post-675353 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings tag-earnings-watch tag-enterpriseam tag-madinet-masr tag-rameda-pharma 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\/11\/.1e16fb86-b99b-4c4b-b102-1811aa7a29ff.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s earnings season<\/strong>, and real estate developer Madinet Masr and local pharma player Rameda are both out with their 3Q earnings.<\/p>\n<p class=\"tag-border-left\">MADINET MASR SEES INCOME, REVENUES DIP IN 3Q- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Madinet Masr reported a net income of EGP 1.1 bn in 3Q 2025<\/strong>, down 30.9% y-o-y, according to its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/11\/801.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Revenues came in at EGP 2.6 bn, down 12.5% y-o-y, due to a more normalized operating environment after a strong 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Revenue performance in 3Q was shaped by a doubling in unit delivery revenues to <\/strong><strong>EGP 682 mn<\/strong>, supported by a 149% jump in delivered units to 493, mainly across the company\u2019s flagship Taj City and Sarai projects. New sales hit EGP 15.1 bn, up 27.5% y-o-y, driven by strong demand for higher-value inventory and new launches, including Talala in New Heliopolis.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 9M basis, Madinet Masr reported EGP 2.4 bn in net income<\/strong>, down 6.6% y-o-y. Meanwhile, revenues stayed almost flat compared to the year before, falling 1,0% to reach EGP 7.4 bn. The company\u2019s unit delivery revenues doubled y-o-y to EGP 1.6 bn, while new sales rose 11.2% to EGP 36.3 bn. The company handed over 1k units, up 112% y-o-y due to faster construction progress.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cLooking ahead, we are moving forward with confidence in our expansion strategy, both geographically and across product offerings. Backed by a diversified portfolio and a focused team, Madinet Masr is well positioned to sustain performance and continue shaping the next chapter of urban development in Egypt and the wider region,\u201d CEO Abdallah Sallam said. <\/p>\n<p class=\"tag-border-left\">RAMEDA\u2019S BOTTOM LINE DIPS, REVENUES JUMP IN 3Q- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rameda saw its net income fall 20.7% y-o-y in 3Q 2025 to EGP 96 mn<\/strong>, according to its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/11\/797.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Revenues, however, surged 48.7% y-o-y to EGP 1.1 bn, supported by solid growth across all business lines and a sharp rebound in tender sales.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving revenues was a 390% y-o-y jump in tender sales to EGP 242 mn. <\/strong>Units sold increased 46% y-o-y to 20.6 mn, supported by a rebound in tenders and a 15% growth in exports. Meanwhile, private market volumes fell 7% due to temporary regulatory changes affecting injectable antibiotics, though excluding this impact, private sales volumes would have grown 19%. The average selling price per private unit rose from EGP 58 to EGP 75 after Rameda\u2019s repricing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 9M basis, Rameda\u2019s net income grew 15.1% y-o-y to EGP 281 mn<\/strong>, and revenues jumped 66.1% y-o-y to EGP 3.0 bn. The growth was driven by a strong performance across all business lines. Private sales rose 53% y-o-y to EGP 2.2 bn, supported by portfolio repricing and full normalization of production. Tender revenues more than tripled to EGP 414 mn, and exports grew 22% to EGP 169 mn, underpinned by a recovery in demand and stronger regional shipments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong>\u201cThe third quarter marked another period of solid execution for Rameda, as we delivered strong top-line growth and continued to expand our presence across all market segments. Tender sales reached record levels as the Unified Procurement Authority resumed regular purchasing activity, while private market revenues remained resilient, reflecting the lasting impact of the repricing measures implemented in late 2024 and the strength of our commercial platform,\u201d CEO Amr Morsy said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madinet-masr\/\">Madinet Masr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rameda-pharma\/\">Rameda Pharma<\/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=\"675355 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=\"675355\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/675355\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                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                    Cement player Titan to invest EGP 3 bn to boost capacity                        <\/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\/11\/12\/cement-player-titan-to-invest-egp-3-bn-to-boost-capacity\/\" 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-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2091.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/2091.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/2\/2091.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-675357\" class=\"content-area-description single-story post-675357 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-development-finance tag-egyptian-steel tag-enterpriseam tag-financial-regulatory-authority tag-infrastructure tag-manufacturing tag-sustainability tag-un 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\/11\/.2b128a91-84b0-4265-ab16-26cb91e3a51e.mp3\"><\/audio><\/figure>\n<p class=\"tag-border-left\">MANUFACTURING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1-<\/strong> <strong>Cem<\/strong><strong>ent producer Titan Egypt plans to invest EGP 3 bn through 2026 to <\/strong><strong>expand its production capacity and use of alternative fuels,<\/strong> CEO Amr Reda told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2025\/11\/10\/1928092\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The company plans to bring its total production capacity to 5.5 mn tons next year, up from the current 4.5 mn tons generated from its two plants in Beni Suef and Alexandria. <\/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>It\u2019s also planning to increase its alternative fuel use to 70% of total consumption by 2030<\/strong>, up from a current 40%, to reduce costs and cut carbon emissions. It is also targeting 1 mn tons in exports by next year, nearly double last year\u2019s 550k tons.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Egyptian Steel plans to invest just short of EGP 2 bn starting next year to <\/strong><strong>expand<\/strong><strong> and modernize its steel production facilities<\/strong>, Abdel Fattah Siam, general manager of the company\u2019s Alexandria plant, told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2025\/11\/11\/%D8%AD%D8%AF%D9%8A%D8%AF-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D9%8A%D9%86-%D8%AA%D8%B3%D8%AA%D9%87%D8%AF%D9%81-%D8%B6%D8%AE-%D9%85%D9%84%D9%8A%D8%A7%D8%B1%D9%8A-%D8%AC%D9%86%D9%8A%D9%87-%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9\" style=\"\" rel=\"noopener\">Al Arabiya.<\/a> The steelmaker will fund a part of the 18-month investment plan from its own capital, and the remainder through bank loans \u2014 possibly split evenly between both. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company will build a new lime plant to support its steel production<\/strong>, upgrade existing production lines, and add machinery to older lines at its Port Said and Alexandria plants. It aims to bring its production capacity to 1.7 mn tons next year, up from 1.2 mn tons projected for this year, and raise exports from 7% to 30% of output by 2027, targeting Europe and Africa.<\/p>\n<p class=\"tag-border-left\">REGULATION WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FRA mandates digital data link for fund managers:<\/strong> The Financial Regulatory Authority (FRA) has issued a decision requiring all investment fund management companies to set up the technological infrastructure needed to electronically link their databases with the FRA\u2019s central system, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1397462925757457?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a> from the regulator. Companies have a six-month window \u2014 starting 5 November \u2014 to comply with the new mandate, and once the integration is complete, it will allow investors to track real-time fund prices through the <a target=\"_blank\" href=\"https:\/\/iinvest.org.eg\/\" style=\"\" rel=\"noopener\">I Invest<\/a> platform.<\/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\">EXPANSION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Concrete Plus wants to expand in Saudi Arabia: <\/strong>Local construction player Concrete Plus is eyeing three projects in Saudi Arabia worth SAR 700-800 mn, with execution timelines of up to three years, CEO Tarek Youssef told EnterpriseAM. The company is also on the lookout for potential investments in Libya and other African markets. <\/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\">DEVELOPMENT FINANCE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UN Adaptation Fund is considering providing USD 8 mn in financing to <\/strong><strong>Egypt<\/strong> to support sustainable development and climate adaptation projects, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/11\/819.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a> issued by the fund. The projects \u2014 implemented through an Egyptian executing entity \u2014 are currently in the final stages of approval.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-steel\/\">Egyptian Steel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sustainability\/\">sustainability<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/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=\"675359\" 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=\"675359\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/11\/12\/millennials-set-to-pour-more-money-into-private-markets-and-mideast-will-be-leading-the-charge\/\">\r\n                            Millennials set to pour more money into private markets, and MidEast will be leading the charge                        <\/a>\r\n                    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format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-planet-finance tag-private-equity 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\/11\/.54990594-22dd-4d43-a070-e8e21e350120.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Millennials are expected to ramp up their investments in private markets over the <\/strong><strong>coming years \u2014 and the Middle East is shaping up to be one of the biggest players in this shift<\/strong>, according to Barclays Private Bank\u2019s <a target=\"_blank\" href=\"https:\/\/privatebank.barclays.com\/insights\/private-markets-annual-report-2025-10-2025\/private-markets-2025-download\/\" style=\"\" rel=\"noopener\">Private Markets Annual Report<\/a>. The report shows that 79% of wealthy investors plan to increase their allocations in private markets, with Millennials leading the charge. The generational transfer of wealth \u2014 estimated at USD 80 tn globally by 2048 \u2014 is already changing how capital is invested. Younger, more tech-savvy investors are looking for flexibility, transparency, and access to sectors that offer long-term growth and social impact.<\/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>The Middle East\u2019s influence is growing: <\/strong>The Middle East and Asia are now among the fastest-growing regions for private market investments, thanks to rising entrepreneurial wealth and strong liquidity. In these regions, private investors already dedicate about a third of their portfolios to private markets.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Barclays\u2019 survey of over 550 investors found that 91% see private markets as key to <\/strong><strong>long-term capital growth and 89% for diversification.<\/strong> Nearly half of those who have not yet invested say they plan to start soon, signaling a growing appetite for alternative assets. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Private equity and real estate remain the most popular asset classes<\/strong>, with 75% investing in real estate and 73% in private equity. However, other areas like private debt, infrastructure, and secondary transactions are gaining traction as investors look to move beyond traditional funds.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fundraising landscape is shifting:<\/strong> More than half of general partners (GPs) say fundraising has become more difficult due to tighter liquidity and increased selectivity among investors. Despite that, fund distributions have remained steady, and investor appetite for experienced managers continues to grow. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Access and education remain key barriers: <\/strong>Liquidity, high entry requirements, and complex structures continue to discourage new investors. Younger investors \u2014 especially Millennials \u2014 say access is one of their biggest challenges, while Baby Boomers cite lack of understanding. Around 70% of respondents rely on advisers for guidance, underlining the need for more education and transparency.<\/p><p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are in the green in early trading this morning<\/strong>, with the Hang Seng leading gains (up 1.3%) and the Kospi, Nikkei, and Shanghai Composite trailing behind. <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">40,261<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +35.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 47.15<\/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 47.28<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB<\/strong><strong>) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 47.19<\/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 47.29<\/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\">21.00% 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\">22.00% 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\">11,270<\/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: -6.4%)<\/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>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\">10,034<\/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\">6,072<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.1% (YTD: +17.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 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\">6,847<\/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: +16.4%)<\/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>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\">9,900<\/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\">+1.2% (YTD: +21.1%)<\/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>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\">5,726<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.1% (YTD: +17.0%)<\/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 65.16<\/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\">+1.7%<\/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>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 4.53<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 4,143<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 103,080<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.8% (YTD: +10.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P Egypt Sovereign Bond Index<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">961.95<\/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: +23.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 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\">151.78<\/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: +8.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>VIX (Volatility Index)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">17.28<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.8% (YTD: -0.4%)<\/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 fell 0.4% at yesterday\u2019s close<\/strong> on turnover of EGP 6.3 bn (30.7% above the 90-day average). Regional investors were the sole net sellers. The index is up 35.4% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Misr Cement (+5.8%), ADIB (+4.2%), and Beltone Holding (+3.7%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Orascom Development (-4.3%), Ibnsina Pharma (-3.7%), and Juhayna (-3.7%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/private-equity\/\">private equity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"675361\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">12<\/div>\r\n    \r\n                        <p class=\"f-graphik\">HARDHAT<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/wider-adoption-of-fixed-schedule-rail-services-could-help-egypt-achieve-its-rail-freight-targets\/\"> \r\n                            Wider adoption of fixed-schedule rail services could help Egypt achieve its rail freight targets<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/wider-adoption-of-fixed-schedule-rail-services-could-help-egypt-achieve-its-rail-freight-targets\/820-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/820.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"820.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/820.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/820.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-675361\" class=\"content-area-description post-675361 hardhat type-hardhat status-publish has-post-thumbnail hentry category-hardhat tag-enterpriseam tag-hardhat tag-infrastructure tag-logistics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt's ambition to mo<\/strong><strong>dernize its logistics relies on shifting some freight <\/strong><strong>capacity away from roads and onto its extensive, yet underutilized, railway network. <\/strong>The recent launch of a privately operated fixed rail freight service can serve as a blueprint for how to move more cargo on tracks, moving away from the current ad-hoc, customer-specific model towards predictable rail services. <\/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>This shift is currently being led by the private sector: <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.g-3a.com\/\" style=\"\" rel=\"noopener\">G3A<\/a><\/strong>, a company founded in 2023 after a merger involving Gharably Integrated Engineering Company and 3A International, secured a 15-year concession to operate all cargo rail services to support the government in achieving its rail freight targets, G3A\u2019s Chief Operating Officer Noha Awad told EnterpriseAM. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s first <\/strong><strong><a target=\"_blank\" href=\"https:\/\/transmar.com\/freight-rail-service\/\" style=\"\" rel=\"noopener\">fixed-schedule rail freight service<\/a><\/strong><strong> was launched by G3A and the regional <\/strong><strong>multimodal logistics services provider <\/strong><strong><a target=\"_blank\" href=\"https:\/\/transmar.com\/\" style=\"\" rel=\"noopener\">Transmar<\/a><\/strong><strong> in the summer<\/strong>, featuring two weekly trips at a total capacity of 200 TEUs. The service connects Al Robaiky Industrial City to Adabiya Port, where Transmar and its sister company, Transcargo International, have a well-established operational presence. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In perspective: <\/strong>Despite boasting over 10k km of tracks, the rail system currently handles only around 6% of the country's inland freight, leaving supply chains highly dependent on trucking via riskier and less reliable road networks. To address this gap, the government is plotting to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e1acdd58-f51f-4c99-bc21-f956655ee3ed\/a-deep-dive-into-the-new-cabinet%25e2%2580%2599s-new-transport-and-logistics-infrastructure-strategy\" style=\"\" rel=\"noopener\">boost rail freight capacity<\/a> by some 63% to transport 13 million tons by 2030 \u2014 a significant surge from the reported 2024 figures, though sharply down from an initial 30 million ton target.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But G3A is hopeful they can go beyond these targets: <\/strong>When G3A took over the cargo sector from ENR, rail handled around 3 mn tons per year, Awad told us. Over a single year, the company was able to double this figure to 6 mn tons in 2024, and it is now targeting 12 mn tons of handled cargo by the end of 2025. \u201cWe expect the cargo we handle to be duplicated every year throughout the 15-contract,\u201d she added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Achieving this target does not rely solely on laying new tracks<\/strong> <strong>\u2014 it requires a shift in the <\/strong><strong>customers\u2019 mindset to view rail as more reliable and make the switch<\/strong>, Awad told EnterpriseAM. Historically, the governmental operator (ENR) had not promoted the cargo service, with its usage limited primarily to military services and the transit of empty containers between ports, Awad said. Unfamiliar with the service, customers are \u201cworried that if they put their container on the train, it would arrive after a week, while trucks would arrive within six or seven hours,\u201d she added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Changing the mindset would also require a fundamental shift in the operational model <\/strong><strong>from an ad-hoc system to reliable, fixed-schedule rail services<\/strong>, Transmar\u2019s General Manager Ahmed Al Ahwal told EnterpriseAM. Historically, the traditional rail freight system has operated based on customers having to request and fill an entire train. A customer who only needs to move a few containers a week must either wait until they have enough cargo to fill a whole train or pay for the entire reserved capacity, including the costly empty return trip.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But a fixed-schedule service helps remove this major cost constraint. <\/strong>The financial commitment required to book an entire train, plus the necessity of coordinating that train\u2019s return journey, meant that small-to-medium shippers historically avoided rail altogether, Al Ahwal explained. Fixed-schedule services eliminate the need to book an entire train, plus the necessity of coordinating that train\u2019s return journey, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Beyond reliability and fixed scheduling, the subsequent hikes of fuel prices in Egypt are <\/strong><strong>also making rail freight a more affordable option<\/strong>, Awad told us. This is largely because trucking is more sensitive to fuel prices, rising by 15%-20% on average with every hike, she explained. This dynamic translates into inherent cost savings for rail, which now costs 20% to 30% less than trucking, Awad added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>International studies agree with Awad on this.<\/strong> Rail operations are generally less exposed to fluctuating global fuel prices because fuel accounts for approximately 15% of rail haulage costs \u2014 compared to roughly 30-40% of the cost base for road transport, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/10\/1754.pdf\" style=\"\" rel=\"noopener\">2019 study (pdf)<\/a> conducted by Menarail Transport Consultants (MTS) and commissioned by the World Bank and ENR. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Rail services generally also offer concrete benefits that directly counter the <\/strong><strong>challenges and unpredictability inherent in road transport<\/strong>. Rail can offer long-term contracts lasting a year or more, providing shippers with predictable costs, according to the 2019 MTS study. It can provide 24\/7 operations, whereas truck movements can be constrained by local restrictions. It also allows for higher legal weight limits per container compared to road, which mitigates the risk of fines associated with overloaded trucks. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sustainability is another benefit: <\/strong>\u201c[Another] major reason to shift to rail is to have a more environmentally friendly method to move stuff, which has now become attractive for most international players,\u201d Awad said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While fixed-scheduling and fuel prices are key for the shift, training workers and proper <\/strong><strong>management and investments in the sector\u2019s infrastructure are equally important<\/strong>, Awad explained. So far, G3A has established four multimodal stations across Egypt in major industrial areas. The government is also ramping up its investments in the sector, with plans for developing four multimodal logistics corridors across the nation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government is also actively pursuing the localization of locomotives and wagon <\/strong><strong>manufacturing<\/strong>, Al Ahwal told EnterpriseAM, adding that this governmental localization plan will be pivotal for the country\u2019s rail freight targets, as it would eliminate the need to depend on imports to ramp up the sector\u2019s handling capacity as more customers turn to it for shipping. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>French rolling stock company Alstom is jump-starting a railway manufacturing complex in Borg El Arab, with two <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/241ecfa8-b0df-4d63-9cf2-01c8a6c34205\" style=\"\" rel=\"noopener\">EUR 80 mn plants<\/a>. The National Egyptian Railway Industries Company (Neric) is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d4776e8b-0322-4f73-a987-3d2e5158d54f\/suez-canal-extension-trial-run-opens-the-door-for-up-to-eight-additional-vessels-per-day.-plus:-aman-%2B--jarir-bookstore-%2B-al-manea,-eni,-telecom-egypt\" style=\"\" rel=\"noopener\">also developing<\/a> an industrial complex for railway manufacturing in the East Port Said industrial zone. The complex will feature two production lines \u2014 one for metro cars with 35-40% local components and another for railway cars with 65% local content \u2014 with output planned to serve both the domestic market and export to regional markets, particularly in Africa.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>A new shipyard coming to Safaga Port:<\/strong> The Transport Ministry and Arab Bridge Maritime signed an MoU to establish, operate, and later hand over a shipbuilding and repair yard at Safaga Port. (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MinistryTransportation\/posts\/1143238574639864?ref=embed_post\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<li><strong>Egypt is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63ff850d-7025-44a4-b85c-f10c395aa9b5\/a-global-grain-hub-rising-in%253cmark%253e-port%253c%2Fmark%253e%253cmark%253e-said%253c%2Fmark%253e%3F\" style=\"\" rel=\"noopener\">mulling plans<\/a><\/strong><strong> to establish a logistics center for grain storage and <\/strong><strong>distribution in East Port Sai<\/strong>d \u2014 part of the government\u2019s plans to enhance strategic commodity infrastructure and secure food supplies by improving supply and distribution chains. <\/li>\n<li><strong>Egypt, KSA sign MoU to exchange expertise in road development:<\/strong> The Transport Ministry and Saudi Arabia\u2019s Transport Ministry signed an MoU to exchange expertise in road design, research, and training. (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1396470962523320?ref=embed_post\" style=\"\" rel=\"noopener\">Statement<\/a>) <\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hardhat\/\">Hardhat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/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                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"675363\" 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\/11\/12\/675363\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-675363\" class=\"content-area-description single-story post-675363 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\">NOVEMBER<\/span> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16-19 November (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>16-19 November (Sunday-Wednesday): The 12th edition of the Digital Payments and Financial Inclusion Exhibition and Forum (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/pafix.org\/\" style=\"\">PAFIX 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>21 November (Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.eeawards.org\/en\/home\" style=\"\">Egypt\u2019s Entrepreneur Awards<\/a><\/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:400;\">November: The Conference on Early Recovery, Reconstruction, and Development in Gaza.<\/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;\"> (Monday-Thursday), 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>8 December (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/permalink.php?story_fbid=pfbid0DqNmujJD7PVenjE5PiJQoFFTyZ7xMS6SWmr2tsfWa6FrXymQP3FDAyBQ8iHo7Grcl&id=61562245173260\" style=\"\">Egypt-UK Investment Conference<\/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>15 December (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/dfp.global\/#conference\" style=\"\">Neo Gen PropTech and Sustainable Smart Cities Conference<\/a><\/span><span style=\"font-weight:400;\">, The St. Regis Hotel New Capital<\/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 style=\"font-weight:400;\">December: 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;\">30 March - 1 April: Egypt International Energy Conference and Exhibition 2026 (EGYPES)  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">May 2026: End of extension for developers on 15% interest rates for land installment payments <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 September 2026: IMF to hold its eighth review of Egypt\u2019s USD 8 bn EFF arrangement.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2H 2026: Operations at Deli Glass Co\u2019s new USD 70 mn glassware factory kick off.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 January-7 February: Egypt to host the African Games.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>April 2027: Tenth of Ramadan <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8320d4df-e1a7-405e-be07-08e6590aff0e\/\" style=\"\">dry port and logistics hub<\/a><\/span><span style=\"font-weight:400;\"> to begin operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2027: Egypt to host EBRD\u2019s annual meetings for 2027.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2027: Egypt-EU Summit 2027 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">September 2028: First unit of the Dabaa nuclear power plant begins operations.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Second local sukuk issuance | A ban on sugar imports | The Millennial rush.<\/p>\n","protected":false},"featured_media":675334,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-675333","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d910afdd-b1f4-44bf-912c-5daf50d06bf3","teaser":"Second local sukuk issuance | A ban on sugar imports | The Millennial rush.","photo_url":"https:\/\/ent.news\/2025\/11\/842.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO 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