{"id":677023,"date":"2025-12-10T00:00:00","date_gmt":"2025-12-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=677023"},"modified":"2025-12-18T10:11:23","modified_gmt":"2025-12-18T10:11:23","slug":"govt-to-make-progress-on-privatization-in-1q-2026","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/govt-to-make-progress-on-privatization-in-1q-2026\/","title":{"rendered":"Gov\u2019t to make progress on privatization in 1Q 2026"},"content":{"rendered":"<section id=\"677025\" 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=\"677025\">\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\/12\/10\/a-tourism-investment-plan\/\">\r\n                            Egypt to develop a tourism investment plan?                        <\/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\/12\/10\/a-tourism-investment-plan\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" 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data-image-title=\"620.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/620.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/620.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-677025\" class=\"content-area-description single-story post-677025 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-tourism tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/12\/.0dbfb99e-e5ff-4fea-91e2-eb4d273f4570.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>We have another brisk issue for you this morning as we inch closer to closing out the week. Privatization and M&amp;A lead the news well this morning \u2014 sources told us that the next phase of the privatization program will pick up steam early next year after the government rolls out its anticipated package of stock market incentives, meanwhile on the M&amp;A front, Orascom Construction and OCI Global will merge to form an infrastructure giant.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN TODAY\u2019S ISSUE- <\/strong>We speak with Ahmad Amawi, the head of the Egyptian Customs Authority, to discuss the latest custom reforms and the overall trade movement in the country.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/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> <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p class=\"tag-border-left\">PSA- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>Watch out for new phone hacking attempts: <\/strong>The National Telecom Regulatory Authority is <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0t4UW2pVQzjVWZ72MeDbU92wQhwFVJyKw9sAphUTn74jFyjGpnrFXeZQJjaEVPQcKl\" style=\"\" rel=\"noopener\">warning<\/a> that advanced cyberattacks are targeting smartphone users globally, including in Egypt, by exploiting newly discovered security flaws. The watchdog is urging people to update their phones and apps and enable advanced security features like lockdown mode on iPhones or enhanced protection on Android. It also called on people to not click suspicious links or messages, use secure browsers and ad blockers, and enable two-factor authentication on important accounts.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>Cairo is in for a rainy day, with the Egyptian Meteorological Authority forecasting a light to moderate chance of rainfall. As for the weather, the capital is looking at a high of 21\u00b0C and a low of 12\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not as cold in Alexandria<\/strong>, with a high of 20\u00b0C and a low of 14\u00b0C. The city is in for heavy rains and thunderstorms.<\/p><p class=\"tag-border-left\">WATCH THIS SPACE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1- Could our USD 35 bn gas export agreement with Israel finally see the light?<\/strong> Israel has reportedly reached a final agreement with the Leviathan partners regarding our gas export pact, following all-night negotiations between the partners and the Israeli Energy Ministry, according to Israeli outlet <a target=\"_blank\" href=\"https:\/\/en.globes.co.il\/en\/article-israel-set-to-approve-35b-egypt-gas-export-deal-1001528699\" style=\"\" rel=\"noopener\">Globes<\/a>. Israeli Prime Minister Benjamin Netanyahu is expected to greenlight the agreement within days, Globes reports. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Under the agreement terms<\/strong>, the partners will commit to a specified price and prioritize deliveries to the Israeli market in the event of supply disruptions at other gas fields, Globes said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What this means: <\/strong>Israeli flows could continue to be unpredictable as supplies from Leviathan and other fields have been halted multiple times over the past period due to operational pauses, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6bfab6d0-e435-469f-ac69-a05b758bb1e9\/\" style=\"\" rel=\"noopener\">maintenance<\/a>, and military strikes, meaning exports to Egypt can be interrupted with little notice whenever Israel diverts gas back to its domestic grid. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Under US pressure:<\/strong> Netanyahu pushed to finalize the agreement ahead of his meeting with US President Donald Trump on 29 December as Washington has been closely involved in resolving the months-long deadlock, Globes said. This also came as the US administration has signaled support for Chevron, which has a 39.66% operating stake in Leviathan.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The future of the agreement has been uncertain for a while now:<\/strong> We reported earlier this week that the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a5ea0cf3-b7f4-4ee2-ab23-06794178f32e\/israel-to-more-than-double-leviathan-gas-exports-to-egypt-under-usd-35-bn-agreement\" style=\"\" rel=\"noopener\">agreement<\/a> will <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f0dcffda-b2ba-4f33-89b6-cc19ff77d162\/\" style=\"\" rel=\"noopener\">remain in limbo<\/a> for another month after the Leviathan partners pushed their deadline to obtain an export permit from Israel\u2019s Energy Ministry to 31 December. Israel hit a pause on it in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b49aa04f-7c42-41d1-a3fc-097eaffdfceb\/\" style=\"\" rel=\"noopener\">November<\/a> \u201cuntil its interests are secured and a fair price for the Israeli [gas] market is agreed upon,\u201d shortly after Netanyahu <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b39482e1-eba0-430f-964f-acf4bb07ad39\" style=\"\" rel=\"noopener\">froze the agreement<\/a> amid rising Israeli-Egyptian tensions.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt3\"><\/a> <strong>#2- It seems like a tourism investment push is in the making<\/strong>, with the investment, tourism, and housing ministries set to form a working group to develop an investment plan, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/permalink.php?story_fbid=pfbid0EFyNr4S13pKAPKaDvcu669twQXnPEwatEeETWVghP3bjGY1cCF2w3FqwJHhPUVeEl&amp;id=61562245173260\" style=\"\" rel=\"noopener\">statement<\/a> from the Investment Ministry. The plan will support efforts to double tourist footfall to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/866d875b-1b9b-4e98-910c-fe43aa07a7d4\/egypt-is-looking-to-increase-tourism-revenues-to-usd-24-bn-by-fy-2028-29\" style=\"\" rel=\"noopener\">30 mn annually<\/a> by 2030 and then \u201cdouble this number during the following years\u201d \u2014 which is by far the most ambitious tourism target we\u2019ve heard to date. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Clarity for investors eyeing the sector is key<\/strong>, according to Investment Minister Hassan El Khatib, who laid out a plan to list all the investments across the country and even the targeted number of hotel rooms per region and city. The tourism investment map will tie in \u2014 and presumably be a part of \u2014 the ministry\u2019s in-the-works investment map platform for the country.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Diversity of investments on offer is also important<\/strong>, with El Khatib pointing to the need for different investment models to suit the wants and requirements of different investors. The minister also mentioned the need to develop prior approvals for projects on offer to streamline the process, provide golden licenses, and facilitate incentives already in place by law. Tourism Minister Sherif Fathy and Housing Minister Sherif El Sherbiny also highlighted the importance of fixing fees for certain periods to provide certainty for foreign investors to develop clear feasibility studies.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The Central Bank of Egypt has directed local banks to use vessel tracking <\/strong><strong>systems before issuing letters of credit <\/strong>in a bid to prevent violations or exposure to international sanctions, unnamed sources in the banking sector told EnterpriseAM. The ship tracking system within customs platform Nafeza allows banks to verify vessel identity and routes and issue alerts for potential red flags such as entering banned ports, disabling GPS, or ship-to-ship transfers. <\/p><p class=\"tag-border-left\">HAPPENING TODAY-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#1- Most expect inflation to accelerate in November\u2019s data due out later today \u2014 the <\/strong><strong>question is by how much. <\/strong>State statistics agency Capmas is expected to release inflation data for last month in only a matter of hours, and it seems almost unavoidable that headline inflation will be up for the second straight month. The country\u2019s last monthly reading showed annual headline urban inflation <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/24b51d16-6751-42b2-a4f5-242a7e004475\/%253cmark%253einflation%253c%2Fmark%253e-accelerates-for-first-time-in-four-months\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/24b51d16-6751-42b2-a4f5-242a7e004475\/%253cmark%253einflation%253c%2Fmark%253e-accelerates-for-first-time-in-four-months\" style=\"\" rel=\"noopener\">rising by 0.8 percentage points<\/a> to 12.5% y-o-y, largely on the back of higher fuel and food and beverage prices.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Headline inflation is expected to inch up 0.6 percentage points to 13.1% y-o-y<\/strong>, according to a poll of 14 analysts by <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/ar\/business\/JHLHI5TNCJM6DPPFXGMP4PAKLA-2025-12-08\/#:~:text=%D8%A7%D9%84%D9%82%D8%A7%D9%87%D8%B1%D8%A9%208%20%D8%AF%D9%8A%D8%B3%D9%85%D8%A8%D8%B1%20%D9%83%D8%A7%D9%86%D9%88%D9%86%20%D8%A7%D9%84%D8%A3%D9%88%D9%84,14%20%D9%85%D8%AD%D9%84%D9%84%D8%A7%20%D8%A7%D8%B3%D8%AA%D8%B7%D9%84%D8%B9%D8%AA%20%D8%B1%D9%88%D9%8A%D8%AA%D8%B1%D8%B2%20%D8%A2%D8%B1%D8%A7%D8%A1%D9%87%D9%85.\" style=\"\" rel=\"noopener\">Reuters<\/a>, with tobacco, alcohol, and transportation costs being pointed to as the main culprits. Core inflation is also expected to increase 0.3 percentage points to 12.4% y-o-y from a smaller survey for four analysts.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The extent of the increase will be closely watched as an indicator for future interest rate <\/strong><strong>decisions<\/strong>, with the central bank\u2019s Monetary Policy Committee set to meet on 25 December. Assuming inflation doesn\u2019t ratchet up a lot more than expected, the smart money is on the bank moving to cut rates at its last meeting of the year.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- It\u2019s the last day of European Bank for Reconstruction and Development First <\/strong><strong>Vice <\/strong><strong>President Greg Guyett\u2019s three-day visit to the country<\/strong>, where he and his accompanying delegation are meeting with private sector players and senior state officials.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What went down yesterday? <\/strong>The Madbouly government inked six agreements and MoUs with the EBRD to strengthen cooperation in investment, energy, and sustainable development, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/%D8%B4%D9%87%D8%AF%D9%87%D8%A7-%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D9%88%D8%B2%D8%B1%D8%A7%D8%A1-%D8%A7%D9%84%D9%8A%D9%88%D9%85%D8%AA%D9%88%D9%82%D9%8A%D8%B9-6-%D9%85%D8%B0%D9%83%D8%B1%D8%A7%D8%AA-%D8%AA%D9%81%D8%A7%D9%87%D9%85-%D9%88%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D9%8A%D8%A7%D8%AA-%D8%A8%D9%8A%D9%86-%D8%A7%D9%84%D8%AD%D9%83%D9%88%D9%85%D8%A9-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D9%88%D8%A7%D9%84%D8%A8%D9%86\/1421874309982985\/\" style=\"\" rel=\"noopener\">statement<\/a>. The agreements include a EUR 165 mn loan to enhance the country\u2019s electricity grid, a EUR 35 mn investment grant, and a EUR 2 mn technical cooperation grant to upgrade the electricity network, alongside MoUs to promote investment, boost private sector participation in sustainable development, and expand renewable energy infrastructure.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p class=\"tag-border-left\">DATA POINT-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Madbouly government is looking to invest USD 60 bn to add some 23 GW <\/strong><strong>of electricity by 2030<\/strong>,<strong> mostly from renewables<\/strong>, <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/amp\/power\/110279\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B9%D8%AA%D8%B2%D9%85-%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-60-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%81%D9%8A-%D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D8%A7%D9%84%D9%85%D8%AA%D8%AC%D8%AF%D8%AF%D8%A9-%D8%AD%D8%AA%D9%89-2030\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing Investment Minister Hassan El Khatib as saying at a conference in Riyadh. Egypt will need to add a further 45 GW \u2014 90% of which will be renewable \u2014 by 2040 to keep up with population growth, El Khatib said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saying goodbye to older gas-fired units?<\/strong> The government is working with development finance institutions on a program to retire older gas-fired units and replace them with renewables, a move that would help curb the country\u2019s natural gas import bill, Asharq said, citing El Khatib. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Grid constraints remain the biggest bottleneck:<\/strong> Egypt will need some USD 45 bn of investments in distribution infrastructure to integrate new clean capacity, since major wind farms are concentrated along the Red Sea coast and are far from the conventional grid, added El Khatib.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">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><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><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Trump clears path for Nvidia chip sales to China:<\/strong> The Trump administration will allow Nvidia to sell its advanced H200 AI chips to approved customers in China, easing export restrictions imposed during the Biden administration. Under the new deal, the US government will take a 25% cut of proceeds \u2014 up from 15% in a prior agreement \u2014 with similar arrangements expected for AMD and Intel. The decision follows months of lobbying by Nvidia CEO Jensen Huang, who pledged USD 500 bn in US AI investments. The move has drawn criticism from lawmakers, who warned it could aid China\u2019s military and surveillance capabilities. (<a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/technology\/2025\/dec\/08\/trump-nvidia-ai-chips-china\" style=\"\" rel=\"noopener\">Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/us-china-hawks-say-trump-approved-nvidia-chip-sales-china-will-supercharge-its-2025-12-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/12\/08\/trump-nvidia-h200-sales-china.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/12\/09\/business\/china-gains-trump-nvidia-chips.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-12-08\/nvidia-set-to-win-us-approval-to-export-h200-ai-chips-to-china\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/ckg9q635q6po\" style=\"\" rel=\"noopener\">BBC<\/a>) <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND IN BUSINESS NEWS- <\/strong>The European Commission has launched an investigation into whether Google uses content from websites and YouTube videos to power its AI-generated summaries and other tools without compensating creators or offering opt-outs, the commission said in a <a target=\"_blank\" href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/ip_25_2964\" style=\"\" rel=\"noopener\">statement<\/a>. Regulators are also examining if Google\u2019s AI Mode reduces traffic to publishers\u2019 sites. The investigation follows complaints from media groups and campaigners who say Google\u2019s AI Overviews divert readers and threaten journalism revenues. (<a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/crl95eg33k1o\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/12\/09\/google-hit-with-eu-antitrust-probe-over-use-of-online-content-for-ai.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/boards-policy-regulation\/eu-launches-antitrust-probe-into-googles-use-online-content-ai-purposes-2025-12-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/technology\/2025\/nov\/13\/eu-investigates-google-search-over-demoting-commercial-content-from-news-media\" style=\"\" rel=\"noopener\">Guardian<\/a>) <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- Investors brace for a divided Fed: <\/strong>Markets expect the US Federal Reserve to cut interest rates by 25 bps today to a 3.50-3.75% range, but analysts warn of deep divisions within the policy committee \u2014 possibly the most dissent seen in years, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/investors-warm-up-long-spell-discordant-fed-2025-12-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. As many as five of the 12 voting members could oppose the move, raising concerns about growing politicization under President Trump, who has pushed for lower rates ahead of next year\u2019s midterms. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO MAKING HEADLINES- <\/strong>Ukraine and its European allies are preparing a revised peace proposal to end the war with Russia that includes a 20-point framework, security guarantees, and a reconstruction plan, which will soon be presented to Washington. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/zelenskiy-says-refined-documents-peace-plan-will-soon-be-sent-us-2025-12-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cg7vdd115vjo\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nbcnews.com\/world\/ukraine\/ukraine-zelenskyy-pope-leo-russia-peace-proposals-us-trump-rcna248155\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nbcnews.com\/world\/ukraine\/ukraine-zelenskyy-pope-leo-russia-peace-proposals-us-trump-rcna248155\" style=\"\" rel=\"noopener\">Guardian<\/a>)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2503.jpg?ssl=1\"><\/p><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><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We look at how district cooling is becoming an important part of urban planning as Egypt eyes savings and sustainability gains.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"677027 advertiser\" class=\"issue-section enterprise-adv -\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"677027\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/10\/677027\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-677027\" class=\"content-area-description single-story post-677027 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/363.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span>Our Second Championship Course by the Red Sea. Sustainably Crafted. <\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"677028\" 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=\"677028\">\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\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/10\/privatization-to-pick-up-steam-in-1q-2026-as-stock-market-incentive-package-nears-completion\/\">\r\n                            Privatization to pick up steam in 1Q 2026 as stock market incentive package nears completion                        <\/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\/12\/10\/privatization-to-pick-up-steam-in-1q-2026-as-stock-market-incentive-package-nears-completion\/\" 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 delay comes as authorities eye a more favorable trading window, and as they finalize a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7014266f-9933-4939-a1d0-090a5ac1e509\/what-do-the-stock-market-incentives-offered-under-the-second-package-of-tax-facilities-entail%3F\" style=\"\" rel=\"noopener\">new incentives package for companies planning to go public<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The exact dates <\/strong>are still being finalized, taking into account the year-end close and the rollout of the new stock market incentive package.<\/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>REFRESHER- <\/strong>The government is working to boost liquidity on the EGX ahead of the next phase of privatization, which is being ramped up to include <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b8729379-c8ef-4f10-8e02-07c7d7360f5c\/gov%25e2%2580%2599t-to-expand%253cmark%253e-privatization%253c%2Fmark%253e-program,-aims-to-breathe-life-into-egx-with-listings\" style=\"\" rel=\"noopener\">50 state-owned companies<\/a> across 14 sectors. The revamped program will also focus on ramping up private-sector participation through minority EGX listings rather than relying mainly on strategic sales.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>4Q may not have been an attractive window regionally: <\/strong>Riyadh-based EFSIM Facilities Management pulled the plug on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8548438d-50d3-4188-9357-311265a10a32\/%253cmark%253eefsim%253c%2Fmark%253e%253cmark%253e-facilities%253c%2Fmark%253e-sets-ipo-price-range-at-sar-19-20\" style=\"\" rel=\"noopener\">its planned IPO<\/a> on the main market Tadawul earlier this week, a couple of months after Dubai-based online classifieds platform Dubizzle <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/220dd114-dd73-4b00-8e2b-2f58d213ba72\/dubizzle-delays-ipo-a-day-before-bookbuilding-would-have-begun-in-rare-about-turn\" style=\"\" rel=\"noopener\">postponed its IPO<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What does this mean for the fifth and sixth reviews of our USD 8 bn loan program with <\/strong><strong>the IMF? <\/strong>The delay is unlikely to affect ongoing discussions with the IMF, especially in light of Egypt securing FDI inflows after <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\">inking a USD 29.7 bn agreement<\/a> with Qatari Diar to develop a North Coast project, the source said. The lack of progress on the divestment front has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/20b932cc-0bb3-4304-91e1-0df06b64a536\/imf-to-begin-fifth,-sixth-loan-reviews-this-month%3F\" style=\"\" rel=\"noopener\">been a sticking point<\/a> between the Fund and authorities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>A mission from the Fund is currently in town conducting the latest reviews of our program. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Gabal El Zeit power plant remains on the government\u2019s radar<\/strong>, with officials still weighing a stock market listing against a strategic investor sale, our source said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Government sources told us <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b8729379-c8ef-4f10-8e02-07c7d7360f5c\/gov%25e2%2580%2599t-to-expand%253cmark%253e-privatization%253c%2Fmark%253e-program,-aims-to-breathe-life-into-egx-with-listings\" style=\"\" rel=\"noopener\">in October<\/a> that the privatization program will start picking up pace again in November with the sale of a stake in the Gabal El Zeit wind power plant \u2014 but we are yet to see that plan materialize. They also added that <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb64fa06-d83c-413f-a96f-cc7f2358abee\/gabal-el-zeit-wind-farm-to-hit-egx-before-year-end\" style=\"\" rel=\"noopener\">procedures are already underway<\/a> to list 30-40% of the farm by year-end in a transaction expected to raise up to USD 400 mn.<\/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\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/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=\"677030\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly 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Dhabi-based infrastructure giant                        <\/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\/12\/10\/orascom-construction-board-greenlights-merger-with-oci-global-to-form-new-abu-dhabi-based-infrastructure-giant\/\" 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\" 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photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/2253.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"677032\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/10\/orascom-construction-board-greenlights-merger-with-oci-global-to-form-new-abu-dhabi-based-infrastructure-giant\/2253-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/2253.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2253.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/2253.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/2253.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-677031\" class=\"content-area-description single-story post-677031 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam tag-ma-watch tag-oci-global tag-orascom-construction 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\/12\/.fcf3a74a-f179-492e-bdd9-fa4b845a352b.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>EGX- and ADX-listed Orascom Construction\u2019s board signed off on its <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/54f31eda-13f1-4711-b415-5a62dbe3489e\/sawiris-backed-orascom,-oci-global-plan-abu-dhabi-based-merger-to-form-infrastructure-and-investment-giant\" style=\"\" rel=\"noopener\">planned merger<\/a><\/strong> <strong> with Dutch-listed fertilizer OCI Global<\/strong>, approving an agreement that will see the two Nassef Sawiris-backed firms combine into a single Abu Dhabi-based infrastructure and investment platform, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/12\/541.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The transaction will be implemented via a demerger of OCI\u2019s assets into a new vehicle that Orascom will acquire in exchange for new shares, after which OCI will be liquidated and delisted from Euronext Amsterdam.<\/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>What\u2019s next: <\/strong>Both Orascom and OCI plan to hold extraordinary general meetings (EGMs) in January to vote on the proposed merger. The distribution of new Orascom shares to OCI investors is expected in 1Q 2026, subject to shareholder and regulatory approvals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Transaction mechanics: <\/strong>OCI shareholders will swap their stock for roughly 97.8 mn Orascom Construction shares at an exchange ratio of 0.46 Orascom share for each OCI share. This exchange ratio is based on an equity value of USD 1.52 bn for Orascom and USD 1.35 bn for OCI. The board formally approved issuing 97.2 mn new Orascom shares at a USD 12.79 premium, with the remaining 561.8k shares coming from OCI\u2019s existing stake in the company, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/12\/548.pdf\" style=\"\" rel=\"noopener\">bourse disclosure (pdf)<\/a>. The issuance will lift Orascom Construction\u2019s issued capital to USD 207.4 mn from USD 110.2 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new ownership structure after the merger:<\/strong> Orascom shareholders will own 53% of the combined group post-closing, while OCI shareholders will own the remaining 47%. The merged entity will be renamed Orascom and organized around three pillars \u2014 Orascom Infrastructure, Orascom Construction, and Orascom Capital. It will remain listed on the EGX and ADX and incorporated in ADGM, with Nassef Sawiris serving as its non-executive chair. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What the pundits are saying:<\/strong> If shareholders approve the merger, the combined group would start with a liquidity position that could surpass USD 1.5 bn, giving it substantial room to scale up its infrastructure strategy, according to a CI Capital note seen by EnterpriseAM. Sawiris has previously outlined plans to deploy up to USD 50 bn into US infrastructure over the next decade (with data centers among the priorities), and the new platform is expected to invest both its own capital and partner funds through equity and credit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A ramped-up investment capacity:<\/strong> The group will sit on a balance sheet able to deploy more than USD 1 bn of equity into infrastructure and concessions, building on Orascom\u2019s c. USD 13 bn backlog and OCI\u2019s recent multi-bn-USD <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/3927b56c-8446-4a9d-991e-8778a6170c10\" style=\"\" rel=\"noopener\">asset disposals<\/a> in fertilizers, methanol, and blue ammonia. CI Capital sees a pathway in which Orascom channels liquidity and future FCFF into minority stakes, supported by at least a 3:1 debt-to-equity ratio funding. This would allow it to expand its concessions portfolio beyond the USD 15-20 mn in recurring income management targets by 2027.<\/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 are advising Orascom, as is First Abu Dhabi Bank. KPMG is advising Orascom on financial and tax due diligence, while White & Case is providing counsel. On the other side, OCI tapped Rabobank as the financial advisor and ABN AMRO as the exchange agent, with Deloitte advising on financial due diligence and A&O Shearman providing counsel. In addition, Rothschild & Co is advising OCI\u2019s board, with De Brauw Blackstone Westbroek providing counsel.<\/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\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oci-global\/\">OCI Global<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/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=\"677033\" 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=\"677033\">\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\">Coffee With<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/10\/customs-authority-head-ahmad-amawi-on-customs-reforms-and-trade-movement-part-i\/\">\r\n                            Customs Authority head Ahmad Amawi on customs reforms and trade movement -Part I                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/601.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"601.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/601.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/601.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-677033\" class=\"content-area-description single-story post-677033 post type-post status-publish format-standard has-post-thumbnail hentry category-agreements-and-mous-totalling-eur-67-7-bn-inked-at-egypt-eu-investment-conference tag-coffee-with tag-customs-authority tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/12\/.05d29313-fdfd-44d9-98ac-5cc7c343fd32.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Coffee with Ahmad Amawi. <\/strong>Against the backdrop of the Madbouly government making significant progress in customs reforms with the aim of supporting local industry and bringing in fresh investments, EnterpriseAM sat down with Ahmad Amawi, the head of the Egyptian Customs Authority to discuss the latest reforms and the overall trade movement in the country.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>The Finance Ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0dbf2815-dbaa-40aa-947b-d88f7768ae63\/finance-ministry-finalizes-new-amendments-to-customs-laws\" style=\"\" rel=\"noopener\">finalized amendments<\/a> to the customs law over the summer, proposing changes to three customs laws, including 15 amended articles and 3 newly introduced articles. Back in October, a source <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bbba6cd8-98a2-4270-bd31-7e70b3be2b3a\/following-up-on-the-awaited-amendments-to%253cmark%253e-customs%253c%2Fmark%253e-laws\" style=\"\" rel=\"noopener\">told us<\/a> that the amendments will soon head to the House.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Below are edited excerpts from our conversation:<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM:<\/strong> There have been murmurs about amendments to the customs tariff, what can you tell us about that? <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ahmad Amawi: <\/strong>The government is currently reviewing amendments to the customs tariff system to better regulate the market, protect local manufacturers, and align it with the state\u2019s broader industrial development agenda under close coordination with industry stakeholders, the business community, and relevant authorities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The amendments will include tariff reductions on selected production inputs<\/strong> \u2014 to fix long-standing distortions and strengthen local manufacturing \u2014 and increases on other items in line with national priorities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We are in constant communication with local manufacturers<\/strong>, who notify us when they begin manufacturing a new product that was not previously manufactured locally, whose production input is not available locally, be it raw material or an intermediate good. The issue is then looked into \u2014 if lowering customs on the production input will enhance their competitiveness against their imported counterpart, then we move forward with a custom break to support local industry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM:<\/strong> We\u2019re expecting the government to start implementing the Advance Cargo Information (ACI) system <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3f0865a2-16fb-4a11-86b9-940f1c2de16f\/gov%25e2%2580%2599t-targets-early-2026-for-nafeza-air-freight-rollout\" style=\"\" rel=\"noopener\">for air freight in January<\/a>. Why now?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AA: <\/strong>The ACI system contributes to automating and accelerating customs procedures before goods arrive at ports, ensuring the highest levels of governance and transparency. We began applying it for sea freight in 2021, given that sea freight represents the vast majority of Egypt\u2019s trade traffic. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This marked a transition for companies<\/strong> \u2014 exporters, importers, shipping, or customs clearance firms. They had to adapt to the new system and its procedures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM:<\/strong> How has this supported the trade movement in Egypt?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AA:<\/strong> This allowed for better coordination between the Customs Authority and other local inspection bodies. It ensured the relevant entities were notified ahead of time that a specific shipment will arrive at a certain time and requires inspection by a particular authority.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The system also made it possible to conduct risk assessments before shipments arrive.<\/strong> This includes verifying the foreign supplier before allowing them to export or supply goods to Egypt and ensuring that the entity possesses the necessary documents. Through defined mechanisms, the system retrieves this information and verifies the identity of the supplier and prevents the entry of goods of unknown origin, non-compliant products, or items containing harmful, carcinogenic, or any banned chemical substances, among other risks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM:<\/strong> How have air freight companies reacted to the introduction of the ACI system? <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AA:<\/strong> Since 2021, 500 companies have voluntarily joined the system, despite their dealings being conducted through air freight channels. Currently, the number is increasing thanks to the facilities the system offers \u2014 there are no additional fees or obstacles and it is flexible to accommodate the nature of air freight. Some 80% of companies engaged in air cargo also operate in maritime shipping, making them familiar with the system.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some had concerns given the fast nature of air freight.<\/strong> It is important for traders to be scheduling import needs in advance, taking advantage of the fact that the maritime and air ACI systems are valid for six months. That is, I can schedule the import of a shipment for June 2026 in December 2025, so there is no real \"rush.\u201d That being said, any exceptional case will be handled, and registration will not take more than 5 minutes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM:<\/strong>Air freight is inherently more expensive, so will applying ACI raise the total cost?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AA:<\/strong> Prior to implementing ACI, the state required all shipping documents to be attested, be it for air or sea freight. This process could cost up to EUR 600 for a single shipment. The introduction of the Nafeza system cancels this step \u2014 it uses a specialized tool to verify the authenticity of documents. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Registration through the ACI system costs USD 175<\/strong>, meaning importers actually save about 75-80% when comparing the figure to the costs of previously-applied systems.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM:<\/strong> To what extent will the system contribute to reducing clearance time?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AA:<\/strong> Currently, half of air shipments have their clearance procedures completed in less than a single day, the other half see clearance times exceeding a few days. This depends on several variables, as air shipments have to go through not only customs procedures, but also procedures related to different regulatory bodies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM:<\/strong> Time and time again Investment Minister Hassan El Khatib highlighted efforts to reduce customs clearance time, which has so far <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-hurghada-airport-next-month\" style=\"\" rel=\"noopener\">more than halved<\/a>. Why is reducing customs clearance time such a priority?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AA:<\/strong> Previously, the average customs clearance time for sea freight exceeded 28 days. By 2023, we reduced that to 15.6-15.8 days and at the beginning of 2025, we reached 5.6 days. We are looking to cut clearance time to just 2 days by the end of 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is a good indicator.<\/strong> Every additional day a shipment spends at the port costs the country about USD 150 mn in fees for containers, yards, and storage, in addition to the fees paid to the shipping company. If a vessel arriving from abroad is delayed by even one day, that day alone can cost up to USD 21k. So reducing clearance time results in pretty significant FX savings.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Beyond that<\/strong>, the move reduces the cost for importers of production inputs, which consequently lowers the cost of production, thereby increasing the competitiveness of the Egyptian product in terms of quality and price compared to imported finished goods. We are working to ensure that customs clearance for air shipments reaches a time not exceeding a few hours.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM:<\/strong> We can\u2019t talk about trade or customs without touching on recent trade tensions ignited by the US this past year. Some saw Trump\u2019s sweeping tariff plan as a chance for Egypt to attract investors from the likes of China and Turkey \u2014 have we been taking advantage of this opportunity?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AA: <\/strong>Certainly. There is indeed a plan to attract more investments to Egypt, seeing as it has gained a competitive advantage over the past few years, more so now that it was one of the least affected countries by Trump\u2019s tariffs. Egypt is subject to the blanket 10% duty. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/coffee-with\/\">Coffee With<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/customs-authority\/\">Customs Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"677035 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"677035\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/10\/677035\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-677035\" class=\"content-area-description single-story post-677035 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.business.hsbc.com\/en-gb\/campaigns\/introducing-cib\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/543.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"677036\" 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=\"677036\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/10\/egx-listed-al-tawfeek-leasing-wraps-egp-1-8-bn-securitization-issuance\/\">\r\n                            EGX-listed Al Tawfeek Leasing wraps EGP 1.8 bn securitization issuance                        <\/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\/12\/10\/egx-listed-al-tawfeek-leasing-wraps-egp-1-8-bn-securitization-issuance\/\" 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 offering was backed by a portfolio of future leasing receivables, with proceeds earmarked for shoring up the company\u2019s balance sheet and financing its expansion pipeline.<\/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>Who bought in:<\/strong> Local lenders CIB, National Bank of Egypt, Banque Misr, and Banque du Caire participated in the offering, alongside regional player Attijariwafa Bank.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The issuance\u2019s structure: <\/strong>The issuance came in three floating-rate tranches linked to the CBE overnight lending rate plus an unspecified margin. The tranches have tenors ranging from 25 to 48 months and ratings ranging between AA+ and A. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Al Ahly Pharos and CI Capital acted as arrangers, managers, and financial advisors on the transaction. CIB, NBE, Banque Misr, and Banque du Caire underwrote the issuance, with NBE serving as the subscription receiver and Banque Misr as the custodian. ALC Alieldean Weshahi & Partners provided counsel and UHY served as the auditor.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"677038 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"677038\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/10\/677038\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-677038\" class=\"content-area-description single-story post-677038 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/264.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"677039\" 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=\"677039\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/10\/egypt-defence-expo-puts-egypts-push-to-become-a-regional-defense-manufacturing-hub-in-the-spotlight\/\">\r\n                            Egypt Defence Expo puts Egypt\u2019s push to become a regional defense manufacturing hub in the spotlight                        <\/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\/12\/10\/egypt-defence-expo-puts-egypts-push-to-become-a-regional-defense-manufacturing-hub-in-the-spotlight\/\" target=\"_blank\">\n                    Open in new tab                    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href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/10\/egypt-defence-expo-puts-egypts-push-to-become-a-regional-defense-manufacturing-hub-in-the-spotlight\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/599.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"677040\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/10\/egypt-defence-expo-puts-egypts-push-to-become-a-regional-defense-manufacturing-hub-in-the-spotlight\/599-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/599.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"599.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/599.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/599.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-677039\" class=\"content-area-description single-story post-677039 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-defense tag-enterpriseam tag-military 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\/12\/.c177c957-242e-4c56-aabc-7dd578110a2d.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Arms companies and foreign militaries flocking to Egypt for last week\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.egyptdefenceexpo.com\/\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.egyptdefenceexpo.com\/\" style=\"\" rel=\"noopener\">Defence Expo<\/a><\/strong><strong> caught the attention of <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/big-hopes-africa-defence-firms-scramble-drone-market-egypt-arms-expo-2025-12-08\/\" style=\"\" rel=\"noopener\">Reuters<\/a><\/strong>, which is out with a story focusing on arms companies from Egypt and other nations jostling for position in a defense market increasingly dominated by drone technology. The state-owned Arab Organization for Industrialization got in on the action with an MoU with China\u2019s Norinco to make armed unmanned aerial vehicles. In addition, local defense firm Amstone International Group signed contracts to supply at least three undisclosed customers with its Jabbar kamikaze drones.<\/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\/defense\/\">Defense<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/military\/\">military<\/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=\"677041\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show 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<\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/10\/chinas-fountain-set-eyes-usd-100-mn-textile-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/597.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"677042\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/10\/chinas-fountain-set-eyes-usd-100-mn-textile-project\/597-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/597.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"597.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/597.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/597.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-677041\" class=\"content-area-description single-story post-677041 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-abou-ghaly-motors tag-also-on-our-radar tag-automotive tag-energy tag-enterpriseam tag-manufacturing wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/12\/.adbd53ac-7028-4e50-8ff4-46a82ad92504.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">MANUFACTURING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- Chinese textile firm Fountain Set wants to set up a USD 100 mn textile and <\/strong><strong>spinning complex <\/strong>under the framework of a freezone or economic zone, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/GAFIEG\/posts\/pfbid02ti9jdWyVrXCbSGfGcbBShUZqQt5pTTiHLEcBVSYSuL1py39U67cUeQFinoyKF2sUl\" style=\"\" rel=\"noopener\">statement<\/a>. The 200k sqm project will create 1.5k jobs and will focus on exports to Europe and Africa.<\/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><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Egyptian arm of Germany\u2019s Leoni inaugurated its 14k sqm plant for the <\/strong><strong>manufacture of wiring harnesses and electric cables for vehicles<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0aGDmmCje3oEWaPYnoBg9bD2fex5V6FQKamfYKV7ybqY8hX3ffJf2jk4F3PT7fpf9l\" style=\"\" rel=\"noopener\">statement<\/a>. The new Badr City facility will produce wiring systems for both conventional and electric vehicles.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>The company plans to establish a new industrial complex over two phases, with the first scheduled to come online by mid-2027, bringing total employment to around 7k workers, according to a separate <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/mti.egypt\/posts\/pfbid02sLs6H9Q21x9ozXJVDJBMBhSxbCoescEqX7JaFAmP3HCi9vNxFLuHKRko7yuZvee1l\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p><p class=\"tag-border-left\">AUTOMOTIVE- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abou Ghaly Motors is looking to put its weight behind localizing the <\/strong><strong>manufacture of motorcycles<\/strong>, with the local automotive player seeking to attract investments and foreign companies to partner with, according to an Investment Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/permalink.php?story_fbid=pfbid0MRdHoQxERfQdwmkEBhpGKBcAsRkvnhpXuw5ZX8SRmubLmMW69Vpp5EZArzcaYFD2l&amp;id=61562245173260\" style=\"\" rel=\"noopener\">statement<\/a>. CEO Mohamed Abou Ghaly specifically namechecked Vespa brand-owner Piaggio during a meeting with Investment Minister Hassan El Khatib, who issued a directive for a market study in partnership with the country\u2019s automotive players to explore the initiative.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Two wheels may be better than four when it comes to easing congestion<\/strong>, as Abou Ghaly highlights that motorcycles in some cities in Europe and East Asia account for 70% of the vehicles on the road and help alleviate traffic. The cheaper form of transport is also a good option for young people and university students, given the price of cars, he added.<\/p><p class=\"tag-border-left\">ENERGY- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shell Aviation signed a long-term offtake agreement with Green Sky <\/strong><strong>Capital<\/strong><strong> to buy all output from its planned commercial-scale sustainable aviation fuel (SAF) plant in Egypt<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/shell-aviation_sustainableaviationfuel-energytransition-activity-7401579979605790720-nV9K?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAACxR4pABvSbcxsBMUc-IOBf0VI1XWqO_Tx0\" style=\"\" rel=\"noopener\">statement<\/a>. The facility will produce up to 145k tons of SAF annually, along with bionaphtha and biopropane, and offset some 500k tons of carbon dioxide emissions equivalent annually. Operations are set for late 2027.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The project isn\u2019t the only one aiming to be the first commercial-scale SAF plant in Egypt<\/strong>, as the state\u2019s planned <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8fd53fdc-ed59-4219-9f14-e3ab535b0640\/oil-ministry-gets-the-ball-rolling-on-usd-530-mn-sustainable-aviation-fuel-project\" style=\"\" rel=\"noopener\">USD 530 mn SAF production complex<\/a> in Alexandria is also positioning itself for the role.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abou-ghaly-motors\/\">Abou Ghaly Motors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"677043\" 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=\"677043\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/10\/bis-flags-bubble-like-conditions-in-gold-us-equities\/\">\r\n                            BIS flags bubble-like conditions in gold, US equities                        <\/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       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<\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/10\/bis-flags-bubble-like-conditions-in-gold-us-equities\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/586.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"677044\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/10\/bis-flags-bubble-like-conditions-in-gold-us-equities\/586-jpg-25\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/586.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"586.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/586.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/586.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-677043\" class=\"content-area-description single-story post-677043 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-ai tag-commodities tag-enterpriseam tag-equities tag-financial-markets tag-gold tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/12\/.04244356-ebe9-4876-b1b5-df5c4560b83c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"> <strong>Retail investors are helping push gold and US stocks into bubble territ<\/strong><strong>ory, <\/strong>raising the risk of a sharp reversal, the Bank for International Settlements\u2019 (BIS) warns in its <a target=\"_blank\" href=\"https:\/\/www.bis.org\/publ\/qtrpdf\/r_qt2512a.htm\" rel=\"noopener\">quarterly review<\/a>. BIS pointed to signs of exuberance \u2014 including rapid price appreciation, elevated valuations, and media hype \u2014 with gold up 60% YTD, its strongest performance since 1979, and S&amp;P 500 seeing annual gains of 17% while Nasdaq is up 22%.<\/p><p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p><p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Institutional pulls back, retail all in: <\/strong>Retail investors accounted for most of the inflows into gold and US equity funds over the past three months, while institutional investors either pared back or held steady \u2014 a dynamic the BIS says could heighten volatility if herd behavior triggers fire sales.<\/p><p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>A double whammy: <\/strong>This is the first time in at least five decades that equities and gold have hit bubble indicators simultaneously, the bank noted. While gold eased to USD 4.2k this week from an October record of USD 4.4k per oz, inflows into gold ETFs are set for a record year. <\/p><p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Central bank buying of gold \u2014 traditionally a safe haven \u2014 to hedge against a weak USD, inflation concerns, and debt worries have all given the rally a boost<\/strong>. The concern? Bullion has a history of boom-bust cycles when subsequent corrections erased gains by up to 30%.<\/p><p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>On equities<\/strong>, the bank warned that big tech-led gains \u2014 fueled by AI enthusiasm \u2014 have pushed valuations to stretched levels, heightening the risk of a disorderly correction with broader market spillovers.<\/p><p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Still, Wall Street analysts expect the S&amp;P 500 to extend its rally into 2026<\/strong> and gain around 10%, with big tech leading gains despite concerns over high AI spending, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0c133aab-0e90-44d1-9709-2c1359a86758\" rel=\"noopener\">Financial Times<\/a> reported elsewhere. Analysts cited supportive fiscal policy, potential Fed rate cuts, and gains from AI deployment. <\/p><p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>We dove into why the AI hype may be masking underlying risks of an AI bubble recently<\/strong>, after skeptics warned the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5091195f-e800-4795-a0bd-9a98e6ca108e\/the%253cmark%253e-big-short%253c%2Fmark%253e,-part-ii%3F\" rel=\"noopener\">rally rests on short-lived GPU infrastructure<\/a> and extended depreciation schedules, raising the risk that reported revenues overstate underlying economics. Investor Michael Burry has reportedly placed a USD 1.1 bn short against Nvidia and Palantir, a sign that a mass write-down could be incoming.<\/p><p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Asian markets are a sea of red this morning<\/strong>, as Chinese inflation rose to its highest since February. Hong Kong\u2019s Hang Seng was down 0.6%, while China\u2019s CSI 300 lost 0.8%. <strong>Over on Wall Street<\/strong>, futures are hovering near the flatline after US indices logged minor changes yesterday, with the S&amp;P down marginally and the Nasdaq up 0.1%. <\/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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">41,941<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +41.0%)<\/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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 47.54<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 47.68<\/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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 47.59<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 47.69<\/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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,700<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: -11.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,989<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +6.1%)<\/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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6,045<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8% (YTD: +17.2%)<\/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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6,841<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +16.3%)<\/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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,642<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +18.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,718<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +18.0%)<\/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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 62.08<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 4.58<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 4,245<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 92,239<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.4% (YTD: -1.5%)<\/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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">975.82<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +25.5%)<\/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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">151.62<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +8.4%)<\/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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\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-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">16.93<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-right-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.6% (YTD: -2.4%)<\/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;text-align:left\"><strong>The EGX30 fell 0.1% at yesterday\u2019s close<\/strong> on turnover of EGP 6.8 bn (30.8% above the 90-day average). Local investors were the sole net buyers. The index is up 41.0% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>In the green: <\/strong>Beltone Holding (+4.1%), Raya Holding (+3.9%), and Qalaa Holdings (+2.9%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>In the red: <\/strong>Eastern Company (-6.0%), Orascom Construction (-1.9%), and Fawry (-1.0%).<\/p><p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p><p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Ac<\/strong><strong>row Misr\u2019s board approved the voluntary delisting of the company from <\/strong><strong>the EGX<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/12\/566.pdf\" rel=\"noopener\">disclosure (pdf)<\/a> from the scaffolding and formwork provider. If given approval by the general assembly, shareholders who choose to exit after the company\u2019s delisting will have their shares repurchased at EGP 129.29 each \u2014 higher than the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e10fda3-ab0a-499f-8020-2b3a56ac9531\/nvidia%25e2%2580%2599s-earnings-out-later-today-could-make-or-break-the-ai-trade\" rel=\"noopener\">EGP 100 per share<\/a> maximum price it previously set to finance the buyout. <\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/equities\/\">equities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gold\/\">gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"677045\">\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\">9<\/div>\r\n    \r\n                        <p class=\"f-graphik\">HARDHAT<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/district-cooling-is-becoming-an-important-part-of-urban-planning-as-egypt-eyes-savings-and-sustainability-gains\/\"> \r\n                            District cooling is becoming an important part of urban planning as Egypt eyes savings and sustainability gains<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/district-cooling-is-becoming-an-important-part-of-urban-planning-as-egypt-eyes-savings-and-sustainability-gains\/\" 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=\"#\" 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          <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=District+cooling+is+becoming+an+important+part+of+urban+planning+as+Egypt+eyes+savings+and+sustainability+gains+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fhardhats%2Fdistrict-cooling-is-becoming-an-important-part-of-urban-planning-as-egypt-eyes-savings-and-sustainability-gains%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>                    <\/div>\r\n    \r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/district-cooling-is-becoming-an-important-part-of-urban-planning-as-egypt-eyes-savings-and-sustainability-gains\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/595.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"677046\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/district-cooling-is-becoming-an-important-part-of-urban-planning-as-egypt-eyes-savings-and-sustainability-gains\/595-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/595.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"595.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/595.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/595.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-677045\" class=\"content-area-description post-677045 hardhat type-hardhat status-publish has-post-thumbnail hentry category-hardhat tag-electricity tag-enterpriseam tag-hardhat tag-infrastructure tag-new-administrative-capital tag-sustainability 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>With the rapid expansion of new city developments, Egypt is increasingly <\/strong><strong>moving toward adopting district <\/strong><strong>cool<\/strong><strong>ing as a cornerstone of smart infrastructure.<\/strong> The shift is driven by the growing need to reduce energy consumption, generate real economic savings and emissions reductions, and improve operational efficiency in buildings, making central cooling one of the solutions most aligned with the state\u2019s sustainability and urban expansion goals, according to sources who spoke with 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>Centralized cooling technologies first entered the local market with the Smart Village <\/strong><strong>project in the early 2000s <\/strong>as a pioneering model based on unified infrastructure solutions, Administrative Capital for Urban Development (ACUD) Central Cooling Director Samer Abdallah told EnterpriseAM. Later on, new cities in Egypt \u2014 including the New Administrative Capital, New Alamein, and others \u2014 have adopted the technology as the optimal choice, rather than a luxury. For ACUD, the system was adopted as a fundamental pillar of sustainable cities by building the largest district cooling plant in Egypt and Africa, with a capacity of 68.3k tons of refrigeration.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Buildings account for about 29% of total energy consumption in Egypt, and cooling <\/strong><strong>systems represent a large part of this<\/strong>, Redcon Properties Chairman Tarek El Gammal told EnterpriseAM. Centralized solutions provide real savings and align with the government\u2019s efficiency and sustainability goals, Landmark Real Estate CEO Amr Sultan told EnterpriseAM. He highlighted that district cooling effectively supports his company\u2019s infrastructure priorities, including long-term efficiency, sustainability, and quality of life. For a major mixed-use project like Landmark\u2019s One Ninety, \u201ccentral cooling delivers significant operational and environmental advantages,\u201d Sultan said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>District cooling can help reduce electrical loads and generate real economic savings. <\/strong>The New Capital\u2019s district cooling plant, established by state-owned company <a target=\"_blank\" href=\"https:\/\/www.gascool-eg.com\/ar\" style=\"\" rel=\"noopener\">Gascool<\/a>, relies on a hybrid system combining electricity, natural gas, and nighttime thermal storage technology, Abdallah said. This provides an additional 20% reduction in required electrical capacity, he added. The system has been rolled out across strategic areas such as the Government District, Diplomatic District, and Central Business District, he said. ACUD now fully owns and manages the operating plant and is working on launching three new district cooling plants with a combined annual refrigeration capacity of about 240k tons, Abdallah told us. The new plants will cover additional areas in the New Capital, such as the downtown area. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The move toward district cooling has been informed by previous successes<\/strong>, including the Smart Village, where the usage of industrial-grade natural gas to run the plant helped avoid energy conversion losses, leading to an estimated 30% reduction in energy consumption compared to traditional systems, a Smart Villages Development and Management Company representative told EnterpriseAM. District cooling was considered an essential component to ensure energy efficiency, reliability, and long-term performance in the country\u2019s largest and first fully integrated business complex, according to the representative.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Centralized cooling systems have a longer operational life and a more stable performance <\/strong><strong>than traditional systems<\/strong>, reducing long-term operational and maintenance costs, according to Abdallah. Centralization reduces the need for mechanical equipment inside buildings and increases leasable space, according to the Smart Village representative. The technology also reduces construction, mechanical, and electrical costs for buildings and lowers the required investment in core infrastructure. The district cooling system\u2019s nighttime thermal storage feature allows stored capacity to be used during peak hours, ensuring continuous cooling and supporting grid stability.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It is also good for the environment<\/strong>, with the system reducing carbon emissions by around 30% when compared to traditional systems, Abdallah said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the scale of these systems poses challenges to wider deployment. <\/strong>High upfront investment costs remain the biggest challenge to the popularization of central cooling system deployment when compared to traditional cooling solutions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>To overcome this burden, the main incentive for developers becomes purely economic<\/strong>, as the system allows them to shift the financing and operational load to a specialized operator \u2014 sparing developers from injecting massive investments that could represent around 50% of construction costs, a Gascool executive told EnterpriseAM. The cooling-as-a-service model \u2014 or CaaS \u2014 provides tenants with transparent and predictable operating costs, calculated based on actual consumption (ton\/hour), while the operator handles full maintenance and upgrades, according to the Smart Villages company representative.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>District cooling systems also often qualify for green financing and climate incentives <\/strong>since they directly reduce energy consumption by up to one third when compared to individual AC units, El Gammal told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Water consumption concerns can also be addressed<\/strong>, with coastal cities such as New Alamein able to use treated water or seawater, significantly reducing freshwater usage, El Gammal said.<\/p>\n<p class=\"tag-border-left\">THE ROADMAP FOR SUCCESSFUL DISTRICT COOLING PROJECTS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Early planning as a key factor to efficient implementation: <\/strong>Experience from major projects shows that district cooling infrastructure \u2014 including multiple cooling plants and the underground distribution network \u2014 must be integrated into the project\u2019s master plan from day one, officials from the New Capital and Smart Village said, noting that retrofitting is far more complex and costly.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Economic feasibility for customers must be ensured<\/strong>, as district cooling becomes economically unviable for projects with capacities below 5k tons of cooling, according to the Gascool executive.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A clear partnership model is also essential: <\/strong>The success of district cooling projects depends on a clear partnership model and a well-defined ownership and operational responsibilities, Abdallah said. Large-scale implementation also requires advanced planning of architectural and mechanical integrations to ensure seamless connectivity to the district network, the Smart Village representative said.<\/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\"> THE FUTURE OF DISTRICT COOLING IN EGYPT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>District cooling is expected to expand significantly in new city projects across Egypt, <\/strong>El Gammal said, noting that rising urban density, increased energy demand, and national sustainability commitments all support wider adoption.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>District cooling as a mandatory nationwide system:<\/strong> Making district cooling mandatory in high-density areas, such as government districts and business centers, would ensure economic viability, while offering incentives \u2014 like green financing or land facilitation \u2014 for lower-density areas, El Gammal said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cPopulation growth and improved quality of life continue to increase demand for air <\/strong><strong>conditioning <\/strong>\u2014 and relying on traditional individual systems could place huge pressure on the national grid, making district cooling an environmentally responsible, financially viable, and energy-efficient solution,\u201d the Smart Village representative said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egyptian companies in the sector are also looking abroad: <\/strong>Egyptian district cooling system companies, such as Gascool \u2014 which controls more than 80% of the district cooling plants market in Egypt \u2014 are playing an increasing role in spreading the technology, the company source said. Gascool has already begun regional expansion, opening a branch in Saudi Arabia and kickstarting its first projects there, while also exploring markets such as Iraq and Libya. The New Administrative Capital Company is also studying forming a dedicated arm specializing in district cooling to operate projects outside the capital \u2014 with potential expansion abroad as well.<\/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>Egytrans\u2019 subsidiary Egytrans Depot Solutions plans to build a 17k <\/strong><strong>sqm warehouse in Ain Sokhna<\/strong>, set to begin operations in 2H 2026, CEO Abir Leheta told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2025\/12\/06\/1933958\" style=\"\" rel=\"noopener\">Al Borsa<\/a>.<\/li>\n<li><strong>Egypt will establish a freight terminal at Qous Station on the country\u2019s <\/strong><strong>high-speed rail line to serve the Qena Industrial Zone<\/strong>, according to a Transport Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/-%D9%86%D8%A7%D8%A6%D8%A8-%D8%B1%D8%A6%D9%8A%D8%B3-%D9%85%D8%AC%D9%84%D8%B3-%D8%A7%D9%84%D9%88%D8%B2%D8%B1%D8%A7%D8%A1-%D9%84%D9%84%D8%AA%D9%86%D9%85%D9%8A%D8%A9-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D9%8A%D8%A9-%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D8%A9-%D9%88%D8%A7%D9%84%D9%86%D9%82%D9%84-%D9%8A%D8%AA%D9%81%D9%82%D8%AF-%D9%85%D8%AD%D8%B7%D8%A7%D8%AA-%D9%88%D9%85%D8%B3%D8%A7%D8%B1-%D8%A7\/1420663196770763\/\" style=\"\" rel=\"noopener\">statement<\/a>. <\/li>\n<li><strong>The<\/strong> <strong>Industrial Development Group <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48700cf1-70fb-4f0f-ac0a-99a44b7819b8\/%253cmark%253eidg%253c%2Fmark%253e-launches-egp-4.8-bn-industrial-zone-in-new-october\" style=\"\" rel=\"noopener\">launched a EGP 4.8 bn, 1.6 mn sqm<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48700cf1-70fb-4f0f-ac0a-99a44b7819b8\/%253cmark%253eidg%253c%2Fmark%253e-launches-egp-4.8-bn-industrial-zone-in-new-october\" style=\"\" rel=\"noopener\">industrial park<\/a><\/strong><strong> in New October <\/strong>\u2014 called e2 New October \u2014 CEO Shady William announced at a presser attended by EnterpriseAM earlier this week. The park will host 100 factories, focusing on engineering, food, pharma, chemicals, and textiles.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/new-administrative-capital\/\">new administrative capital<\/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                    <\/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=\"677047\" 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\/12\/10\/677047\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-677047\" class=\"content-area-description single-story post-677047 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;\">DECEMBER <\/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;\">1-12 December (Monday-Friday): IMF mission for extended fund facility program reviews.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10 December (Wednesday): Capmas to release inflation data for November.<\/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;\">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;\">JANUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1 January (Thursday): European Union\u2019s Carbon Border Adjustment Mechanism (CBAM) to fully come into effect.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">7 January (Wednesday): Coptic Christmas. <\/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;\">25 January (Sunday): Revolution Day \/ Police Day. <\/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;\">FEBRUARY<\/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;\">19 February (Thursday): First day of Ramadan (TBC).<\/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;\">MARCH<\/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 (Sunday): 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;\">21 March: (Saturday): Eid El Fitr starts (TBC).<\/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 (Monday-Wednesday): 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:700;\">APRIL<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12 April (Sunday): Coptic Easter. <\/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;\">25 April (Saturday): Sinai Liberation Day.<\/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;\">MAY<\/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 May (Friday): Labor Day. <\/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;\">27-29 May (Wednesday-Friday): Eid El Adha (TBC).<\/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: NEBU Egypt\u2019s Gold & Jewelry Exhibition. <\/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;\">JUNE: <\/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 June (Tuesday): National holiday in observance of June 30 Revolution (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 July (Thursday): National holiday in observance of Revolution Day (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 August (Wednesday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 September (Tuesday): 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>27-29 September (Sunday-Tuesday): Egypt will host the fourth edition of the Global Conference on Population, Health and Human Development.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 October (Tuesday): Armed Forces Day. <\/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: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\">Early 2026: <\/span><span style=\"font-weight:400;\">The government will launch the second package of tax facilitation measures. <\/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;\">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;\">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\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>Big merger | Coffee with ECA head | Tourism investment plan | Inflation data out today.<\/p>\n","protected":false},"featured_media":677024,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-677023","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"08566ca2-e78f-405a-9bb8-9285e0a5be6f","teaser":"Big merger | Coffee with ECA head | Tourism investment plan | Inflation data out today.","photo_url":"https:\/\/ent.news\/2025\/12\/616.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gov\u2019t to make progress on privatization in 1Q 2026 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/govt-to-make-progress-on-privatization-in-1q-2026\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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