{"id":678570,"date":"2025-12-18T00:00:00","date_gmt":"2025-12-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=678570"},"modified":"2025-12-26T12:19:47","modified_gmt":"2025-12-26T12:19:47","slug":"at-last-we-have-a-usd-35-bn-gas-deal-in-place","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/at-last-we-have-a-usd-35-bn-gas-deal-in-place\/","title":{"rendered":"At last, we have a USD 35 bn gas deal in place"},"content":{"rendered":"<section id=\"678572\" 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=\"678572\">\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\/18\/govt-rewriting-the-rule-book-for-how-it-parcels-off-north-coast-land\/\">\r\n                            Egypt is rewriting the rule book for how it plans to develop its Mediterranean coast                        <\/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\/18\/govt-rewriting-the-rule-book-for-how-it-parcels-off-north-coast-land\/\" target=\"_blank\">\n                    Open in new tab 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1396.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"678573\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/govt-rewriting-the-rule-book-for-how-it-parcels-off-north-coast-land\/1396-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1396.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1396.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1396.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1396.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-678572\" class=\"content-area-description single-story post-678572 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-naguib-sawiris tag-north-coast tag-real-estate tag-taxation 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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people, and welcome to a busier-than-usual THURSDAY<\/strong> after news broke overnight that our neighbors to the east have signed-off on a long-delayed USD 35 bn natural gas export agreement. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019d love not to do business with Zioland<\/strong>, but the facts are stark: Industry and households alike are hungry for natural gas, and this agreement locks-in a regular supply at a favourable price. It\u2019s good for business, good for households, good for the wider economy \u2014 and could help boost export receipts, too. What do we use for a \u201chold your nose\u201d emoji?<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- The Madbouly government\u2019s policy maturity is on display this morning <\/strong>in a couple of stories, including an exclusive look at the type of incentives and regulatory fixes it hopes will help shift the tenor of our <strong>debt stock<\/strong> a bit more toward the \u201cmedium term\u201d end of the spectrum. The <strong>Tourism Development Authority<\/strong>, meanwhile, deserves kudos for granting our friends at <strong>Karm Holding<\/strong> land for a 40 MW off-grid solar station that will help power tourism destinations. It\u2019s the first time the TDA has allocated land for green power under the usufruct system. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND-<\/strong> We have for you the demystification of that MTO for <strong>Alex Containers<\/strong> and color on the volume of <strong>FDI<\/strong> that officials here expect from <strong>Qatar<\/strong> over the next 12 months. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have all of this and more in this morning\u2019s news well, below.<\/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\">Happening today<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>It\u2019s your last chance to head to the polls<\/strong>, with runoff voting in Egypt for the House of Representatives entering its second and final day today. The results will be announced on Thursday, 25 December.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND: <\/strong>President Abdel Fattah El Sisi <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5989852f-9c4d-4964-8b90-cbda2ad08ea7\/el-sisi-calls-for-review-of-recent-parliamentary-elections\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5989852f-9c4d-4964-8b90-cbda2ad08ea7\/el-sisi-calls-for-review-of-recent-parliamentary-elections\" style=\"\" rel=\"noopener\">called<\/a> on the Elections Authority to review appeals filed by several candidates amid allegations of fraud in the first round of the parliamentary vote, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bfbf0007-fcdb-4896-9caf-d09aa84f0f1f\/19-districts-to-hold-parliamentary%253cmark%253e-elections%253c%2Fmark%253e-re-runs-in-december\" style=\"\" rel=\"noopener\">setting up<\/a> re-runs in 19 districts across Giza, Fayoum, Assiut, Sohag, Qena, Alexandria, and Beheira.<\/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>REAL ESTATE<\/strong><strong> \u2014 The Madbouly government has started rewriting the rulebook for <\/strong><strong>the North Coast.<\/strong> The New Urban Communities Authority is currently finalizing a master plan for a 400 km stretch of coastline extending from Marina all the way to the Libyan border, a senior government official tells EnterpriseAM. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Until that plan is complete, private developers can expect coastal plot allocations to be <\/strong><strong>largely <\/strong><strong>on hold<\/strong>, we were told. The move away from outright land sales to a long-term leasing model and public-private partnerships mirroring the Ras El Hekma template will mean the state will secure funds up front and take a cut from future revenues.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: If you\u2019re a developer, the rules of the game just changed.<\/strong> Goodbye land banking \u2014 you can no longer buy a plot, sit on it for five years, and flip it or build a few chalets. A long-term lease model will presumably require active work on-site and favors the kind of year-round integrated destination the government has been pushing for. But with pricing an open question, it\u2019s unclear whether this is good news for smaller, less cash-rich developers who are already priced-out of the North Coast market.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>Survey teams are already on the ground in areas including Agiba, Marsa Matrouh, and around the Libyan border. Officials will be drip-feeding announcements to the market over the coming year, we\u2019re told. <\/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> TAX \u2014 The Finance Ministry has an EGP 600 bn carrot it thinks might be able to <\/strong><strong>tempt companies to cough up their late tax payment fees. <\/strong>The ministry is mulling a one-off partial waiver of late tax payment fees that could see 30-100% of penalties written off from companies\u2019 balance sheets, which it says stand at around EGP 600 bn, two senior government sources tell EnterpriseAM. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Those who apply to pay their late fees earliest will be in line for the highest waivers<\/strong> under the proposed plan.<\/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>PRIVATIZATION: <\/strong><strong>Naguib Sawiris may be pivoting away (for now) from the country\u2019s <\/strong><strong>cooling <\/strong><strong>real estate market, but the state\u2019s airport privatization push could be his next target. <\/strong>The country\u2019s second-richest person said he\u2019s forming a consortium with Italian partners to bid for the management and operation of the Hurghada International Airport, which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe119853-ab55-4ef3-a13a-a72daaa34acb\/kouchouk-presents-second-package-of-tax-facilities-to-business-community\" style=\"\" rel=\"noopener\">began accepting bids<\/a> last week (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Masrawy\/videos\/1354303832500436\/\" style=\"\" rel=\"noopener\">watch, runtime; 32:11<\/a>). Luxor and Sohag airports may be next in his sights, he suggested.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/p><\/div>\n<\/div>\n<\/div><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong>, the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\" rel=\"noopener\">MENA-India Corridor<\/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>Oil traders are watching carefully this morning after Venezuela said it would have its <\/strong><strong>navy escort oil tankers from port<\/strong> in response to US President Donald Trump\u2019s <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/12\/17\/us\/politics\/venezuela-blockade-military-escort-trump.html\" style=\"\" rel=\"noopener\">naval blockade<\/a> of the country\u2019s oil industry.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ The must read: <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/oil-up-15-trump-orders-blockade-sanctioned-oil-tankers-leaving-entering-2025-12-17\/\" style=\"\" rel=\"noopener\">Oil rises as Trump's Venezuela blockade takes edge off global crude<\/a><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/oil-up-15-trump-orders-blockade-sanctioned-oil-tankers-leaving-entering-2025-12-17\/\" style=\"\" rel=\"noopener\">surplus concerns<\/a> (Reuters).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Warner Bros Discovery\u2019s board <\/strong><strong><a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/warner-bros-paramount-skydance-netflix-d025a585f7a77cb9d8b066e65576101f\" style=\"\" rel=\"noopener\">rebuked<\/a><\/strong><strong> Paramount Skydance\u2019s \u201cinferior\u201d <\/strong><strong>GCC-backed offer <\/strong>and urged shareholders to accept Netflix\u2019s bid. Netflix is offering less, but some pundits think the offer stands a better chance of passing regulatory muster as it would see WBD first spin off its cable TV assets, including CNN and Discovery.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- BP\u2019s Murray Auchincloss is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/802414de-72a1-4db1-9886-f21ccd6cca66\" style=\"\" rel=\"noopener\">out as CEO<\/a><\/strong> after less than two years. He\u2019s being replaced by Meg O\u2019Neill, who\u2019s coming in from Australia\u2019s Woodside Energy. She\u2019ll be BP\u2019s third CEO in five years. <\/p><p class=\"tag-border-left\">PSA-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>Cairo is in for another windy day today, with the Egyptian Meteorological Authority forecasting stiff, intermittent winds sweeping the capital. Our favourite weather app says to expect a high today of 20\u00b0C in the capital city and an overnight low of 9\u00b0C. <\/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\/naguib-sawiris\/\">Naguib Sawiris<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/north-coast\/\">north coast<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/taxation\/\">TAXATION<\/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=\"678574 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=\"678574\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/678574\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-678574\" class=\"content-area-description single-story post-678574 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.instagram.com\/p\/DSIKoodjCGX\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/808.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:700\">Christmas is just the beginning. <\/span><span style=\"\">At Somabay, the celebrations unfold day by day, night by <\/span><span style=\"font-weight:400;\">night, building all the way into the New Year. From rooftop takeovers and beach parties to late-night performances and full-band shows, the season is curated to let you choose your moment and celebrate it your way \u2014 right through the final countdown and beyond.<\/span><\/p>\n<p><span style=\"font-weight:700;\">New Year\u2019s and beyond at Somabay. <\/span><\/p>\n<p><span style=\"font-weight:700;\">Celebrate when it feels right: Pick your night. Book your plans.<\/span><\/p>\n<p><span style=\"font-weight:700\">Discover the full December &amp; NYE calendar <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/www.instagram.com\/p\/DSIKoodjCGX\/\" style=\"\">here<\/a><\/span><span style=\"font-weight:700\">. Welcome the New Year at Somabay.<\/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=\"678575\" 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=\"678575\">\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\">The Big Story Today<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/netanyahu-finally-green-lights-our-usd-35-bn-natural-gas-deal\/\">\r\n                            Israel advances USD 35 bn natural gas export agreement with Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/netanyahu-finally-green-lights-our-usd-35-bn-natural-gas-deal\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/netanyahu-finally-green-lights-our-usd-35-bn-natural-gas-deal\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/netanyahu-finally-green-lights-our-usd-35-bn-natural-gas-deal\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Netanyahu finally green-lights our USD 35 bn natural gas deal&url=https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/netanyahu-finally-green-lights-our-usd-35-bn-natural-gas-deal\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/netanyahu-finally-green-lights-our-usd-35-bn-natural-gas-deal\/&title=Netanyahu finally green-lights our USD 35 bn natural gas deal\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Netanyahu+finally+green-lights+our+USD+35+bn+natural+gas+deal+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F12%2F18%2Fnetanyahu-finally-green-lights-our-usd-35-bn-natural-gas-deal%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/netanyahu-finally-green-lights-our-usd-35-bn-natural-gas-deal\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/925.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"678576\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/netanyahu-finally-green-lights-our-usd-35-bn-natural-gas-deal\/925-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/925.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"925.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/925.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/925.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-678575\" class=\"content-area-description single-story post-678575 post type-post status-publish format-standard has-post-thumbnail hentry category-the-big-story-today tag-chevron tag-egypt-israel-relations tag-energy tag-enterpriseam tag-leviathan tag-oil-and-gas tag-the-big-story-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt locked in a long-term energy backstop after Israeli Prime Minister <\/strong><strong>Benjamin Netanyahu signed off overnight on the stalled USD 35 bn natural gas export agreement.<\/strong> The deal will see Chevron and its partners in the Leviathan gas field, NewMed Energy and Ratio Energies, <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\">export 130 bcm of gas<\/a> to Egypt between 2026 and 2040, Netanyahu said in a televised statement overnight (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=180D1navQes\" style=\"\" rel=\"noopener\">watch, runtime: 5:30<\/a>). The agreement is the largest in Israel\u2019s history, Netanyahu noted. <\/p>\n<p class=\"tag-border-left\">Why it matters<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The supply agreement will play a critical role in stabilizing Egypt\u2019s natural gas supply<\/strong>, which has struggled to balance rising domestic demand and with a fall in local production supply, thanks in large part to technical challenges with the massive offshore Zohr field. That\u2019s had us importing more and more LNG to keep the lights on and prevent a return to the days of rolling blackouts. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It will also curb our natural gas import bills:<\/strong> The Madbouly government had earlier <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d9829bc3-ad90-4a63-ba4e-5f7e8b78ce58\/gov%25e2%2580%2599t-locks-in%253cmark%253e-lng%253c%2Fmark%253e-supply-through-2026,-plans-to-boost-domestic-production-for-export\" style=\"\" rel=\"noopener\">secured<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d9829bc3-ad90-4a63-ba4e-5f7e8b78ce58\/gov%25e2%2580%2599t-locks-in%253cmark%253e-lng%253c%2Fmark%253e-supply-through-2026,-plans-to-boost-domestic-production-for-export\" style=\"\" rel=\"noopener\">LNG supply through 2026<\/a> at a total estimated cost of USD 8 bn after signing agreements with six international energy companies, a government source in the energy sector previously told EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why Israel, you may wonder? <\/strong>It\u2019s cheap (so less pressure on our FX reserves) and the infrastructure is already in place (so no time delay to build or rent infrastructure \u2014 and no capex or leasing costs). The volume we\u2019ll be importing from Israel could come in as much as USD 28 bn cheaper than had we bought the same volumes on the open market at current prices, <a target=\"_blank\" href=\"https:\/\/x.com\/AlArabiyaBN_EG\/status\/2001420000112869493\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> suggests. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And our LNG re-export ambitions will get a shot in the arm<\/strong>, allowing us to use existing liquefaction plants to re-export the gas as LNG to Europe. Liquefying and exporting as much as 60% of the gas we import from Israel could generate c. USD 22 bn in revenue here in Egypt, Al Arabiya reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- Egypt and Israel first inked an agreement in early August<\/strong> that would see flows first increase from 4.5 bn cubic meters in 2025 to 6.5 bn cubic meters as early as 2026. Netanyahy then froze the agreement in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b39482e1-eba0-430f-964f-acf4bb07ad39\/israel-halts-its-usd-35-bn-gas-export-agreement-with-egypt-as-egyptian-israeli-relations-grow-tense\" style=\"\" rel=\"noopener\">September<\/a> amid rising Israeli-Egyptian tensions over the war in Gaza and Cairo\u2019s military deployments in Sinai. The deadline to obtain an export permit from Israel\u2019s Energy Ministry for the project was later <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f0dcffda-b2ba-4f33-89b6-cc19ff77d162\/us-is-trying-to-arrange-a-meeting-between-el-sisi,-netanyahu\" style=\"\" rel=\"noopener\">pushed<\/a> to 31 December. <\/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\">In other energy news\u2026 <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Britai<\/strong><strong>n exempted our Zohr gas field from Russia sanctions<\/strong>, allowing continued payments linked to the project until October 2027, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/uk-exempts-egypts-zohr-gas-field-russia-sanctions-2025-12-17\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Russian oil player Rosneft holds a 30% stake in Zohr alongside BP (10%) and majority-owner Eni. Rosneft was sanctioned by the UK and US in October, part of the fallout from Moscow\u2019s invasion of Ukraine. The British government gave no explanation to the carve-out. <\/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\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\/chevron\/\">Chevron<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-israel-relations\/\">Egypt-Israel relations<\/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\/leviathan\/\">Leviathan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-big-story-today\/\">THE BIG STORY 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=\"678577\" 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=\"678577\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/govt-is-looking-for-usd-10-bn-from-qatar-by-the-end-of-2026\/\">\r\n                            Qatar\u2019s Al Mana Group commits to sustainable aviation fuel plant in Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/govt-is-looking-for-usd-10-bn-from-qatar-by-the-end-of-2026\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/govt-is-looking-for-usd-10-bn-from-qatar-by-the-end-of-2026\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/govt-is-looking-for-usd-10-bn-from-qatar-by-the-end-of-2026\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Gov\u2019t is looking for USD 10 bn from Qatar by the end of 2026&url=https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/govt-is-looking-for-usd-10-bn-from-qatar-by-the-end-of-2026\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/govt-is-looking-for-usd-10-bn-from-qatar-by-the-end-of-2026\/&title=Gov\u2019t is looking for USD 10 bn from Qatar by the end of 2026\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Gov%E2%80%99t+is+looking+for+USD+10+bn+from+Qatar+by+the+end+of+2026+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F12%2F18%2Fgovt-is-looking-for-usd-10-bn-from-qatar-by-the-end-of-2026%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/govt-is-looking-for-usd-10-bn-from-qatar-by-the-end-of-2026\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/215.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"678578\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/govt-is-looking-for-usd-10-bn-from-qatar-by-the-end-of-2026\/215-jpg-31\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/215.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"215.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/215.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/215.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-678577\" class=\"content-area-description single-story post-678577 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-al-mana-group tag-enterpriseam tag-green-energy tag-green-sky-capital tag-investment-watch tag-qatar-egypt-relations tag-saffly-egypt 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>The Madbo<\/strong><strong>uly government thinks it can net as much as USD 10 bn in <\/strong><strong>inbound <\/strong><strong>investment from Qatar\u2019s private sector and government<\/strong> through the end of 2026, a senior government official tells EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: The figure includes some USD 2.0-2.5 bn from Qatari companies <\/strong>in sectors including manufacturing, ports and logistics, and hospitality, the source added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But entities affiliated with Qatar\u2019s government are on track to cut the biggest checks<\/strong>, including: <\/p>\n<ul>\n<li><strong>Alam El Rum:<\/strong> Officials in Cairo are working to set the Mediterranean coastal development on the right track. It\u2019s expected to bring in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b2a719d8-0048-49cb-99ea-7376e75ecf4b\/%253cmark%253eqatar%253c%2Fmark%253e-signs-agreement-for-usd-30-bn-north-coast-project\" style=\"\" rel=\"noopener\">USD 3.5 bn in immediate cashflow<\/a> as part of a larger, USD 29.7 bn investment envelope;<\/li>\n<\/ul>\n<ul>\n<li><strong>A Red Sea development <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8aa21905-a872-4961-b09d-4d0044bf7452\/qatari-diar-%2B-st.-regis-to-launch-usd-3.5-bn-red-sea-project\" style=\"\" rel=\"noopener\">widely believed to be in the pipeline<\/a> could net as much as USD 4 bn.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Next in the Qatar queue: Green Sky Capital,<\/strong><strong> which will build a USD 200 mn plant with a <\/strong><strong>nameplate capacity of 200k tons of sustainable aviation fuel (SAF)<\/strong>, renewable diesel (HVO), and industrial bio-products. Green Sky is a unit of <a target=\"_blank\" href=\"https:\/\/www.almanagroup.com\/\" style=\"\" rel=\"noopener\">Al Mana Group<\/a>, a high-profile Qatari conglomerate. Shell Aviation has inked a long-term agreement to purchase the full production of the project, which will carry the brand name SAFFly Egypt. A Shell statement said <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b65740ad-cb3b-4471-851b-5db17513ad64\/\" style=\"\" rel=\"noopener\">production<\/a> at the plant should start by 2027.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>SAF has an environmental footprint up to 80% lower than traditional aviation fuel<strong>. <\/strong>SAFFly Egypt could create as many as 700 direct and indirect jobs, Hebatalla Hozayen, the company\u2019s general manager, <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7406011336498823168\/\" style=\"\" rel=\"noopener\">said<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SAFFly could plug into a new government-backed collection system for used cooking oil<\/strong>, the feedstock for SAF. The Madbouly government has been working to formalize the supply chain for used cooking oil, having recently launched a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c3cddf03-3514-4bf7-acc7-f8fd844a7f2e\/planned-used-oil-collection-system-to-collect-500k-tons-by-2030-to%253cmark%253e-fuel%253c%2Fmark%253e-saf-production-push\" style=\"\" rel=\"noopener\">collection system<\/a> that targets 500k tons by 2030 and 730k tons by 2035.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Competition for spent French-fry oil? <\/strong>The state\u2019s own 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%253cmark%253e-530-mn%253c%2Fmark%253e-sustainable-aviation-fuel-project\" style=\"\" rel=\"noopener\">USD 530 mn<\/a> SAF complex in Alexandria \u2014 which is being developed with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/163fc062-70af-408b-b297-c423f2242e78\/honeywell-backs-usd-530-mn%253cmark%253e-sustainable-aviation-fuel%253c%2Fmark%253e-project\" style=\"\" rel=\"noopener\">technology licensing from Honeywell<\/a> \u2014 also needs cooking oil as feedstock.<\/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 wildcard\u2026<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Qatar\u2019s investment mix here could still include the former National Democratic Party <\/strong><strong>(NDP) headquarters<\/strong> in downtown Cairo. A Qatari-Egyptian consortium is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d9cb13cd-16fd-44ca-9ec8-a79db1d1752d\/qatari-egyptian-consortium-close-to-securing-former-ndp-headquarters-redevelopment-project\" style=\"\" rel=\"noopener\">a finalist<\/a> for the rights to redevelop the prime Nile-side land, we have previously reported.<\/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\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\/al-mana-group\/\">Al Mana Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-energy\/\">green energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-sky-capital\/\">Green Sky Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar-egypt-relations\/\">Qatar-Egypt relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saffly-egypt\/\">SAFFly Egypt<\/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=\"678579\" 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=\"678579\">\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\">Spotlight<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/looking-at-egypt-next-year-heres-what-to-watch\/\">\r\n                            Looking at Egypt next year? Here\u2019s what to watch                        <\/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\/18\/looking-at-egypt-next-year-heres-what-to-watch\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/looking-at-egypt-next-year-heres-what-to-watch\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/looking-at-egypt-next-year-heres-what-to-watch\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Looking at Egypt next year? Here\u2019s what to watch&url=https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/looking-at-egypt-next-year-heres-what-to-watch\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/looking-at-egypt-next-year-heres-what-to-watch\/&title=Looking at Egypt next year? 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The EGX, he thinks, could finally come off life support.<\/p>\n<p class=\"tag-border-left\">For the EGX to work, two things need to happen<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Falling policy rates \u2014 globally and locally: <\/strong>When rates are high, investors park their money in fixed income, Morsy says. Investors look at equities when falling rates send them looking for growth. \u201cGlobal monetary easing will mean capital flows from developed markets to emerging markets,\u201d he notes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But won\u2019t they be looking at Saudi Arabia and the UAE before Egypt? <\/strong>The two big Gulf markets still attract the lion\u2019s share of investor attention \u2014 no question, he said. But that doesn\u2019t automatically crowd Egypt out. Why? Morsy says that the funds that allocate to Egypt are often not the same as those focused exclusively on Saudi. The EGX is small, and even modest foreign inflows can have a big impact as some investors actively look beyond the Saudi-UAE trade. \u201cI think Egypt will be among the top destinations in terms of deploying funds in 2026.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CI Capital expects Egypt to cut interest rates by around 600 basis points in 2026.<\/strong> Yes, bond yields will fall, but we\u2019ll look much safer from a credit-risk perspective, he says. \u201cEven with a 6 percentage point drop next year, we'll still be operating at a positive real yield going forward. I think the CBE will be aiming to keep real yields at a 3% positive. So this will definitely remain attractive to foreign investors.\u201d Foreign money, he says, will be interested not just in bonds, but in equities too.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Data points: <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5ff57bbc-dd56-45de-8d77-d7743a489d58\/cbe-leaves%253cmark%253e-interest-rates%253c%2Fmark%253e-unchanged-following-october-uptick-in-inflation\" style=\"\" rel=\"noopener\">The CBE left interest rates unchanged last month<\/a>. The overnight deposit rate stands at 21.00%, the lending rate at 22.00%, and the main operation and discount rates at 21.50%. Annual urban inflation eased 0.2 percentage points in November <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8b06dc00-6bef-4bf5-92b3-48d1f91cfbb9\/inflation-inches-down-in-november,-defying-expectations\" style=\"\" rel=\"noopener\">to end the month at 12.3%<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Follow through with promises made to investors:<\/strong> Investors don\u2019t just care what the government says \u2014 they care that it follows through, said Morsy. He added that while lower rates will help, IPOs are really a byproduct of stability and confidence, both of which are starting to fall into place.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big government land sales can bring in cash, but it\u2019s transient<\/strong>, said Morsy, noting that what really moves the needle for investors is opening real businesses to the private sector. What\u2019s a serious signal the government wants that? One thing could be<strong> allowing private operators to manage the airports<\/strong>, he said, adding that we could start with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/ed7bf98e-abf6-4ec8-be27-54e63971f39f\/will-bdc%25e2%2580%2599s-ipo-make-the-imf-happy%3F\" style=\"\" rel=\"noopener\">Hurghada Airport<\/a>. \u201cIt\u2019s a strategic asset and impacts strategic sectors such as tourism\u2026 This is something to watch out for and it shows we mean business.\u201d<\/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\">Then there\u2019s FX stability + exports-driven industries <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FX stability has helped bring remittances back strong<\/strong><strong>ly<\/strong>, and they \u201cwill keep coming in as long as we keep a stable FX rate. I think the current FX rate, I'd say, is at a good level, especially as long as the FX rate is moving with the inflation differential we have with our biggest trade partners \u2014 which is exactly what the CBE says it wants.\u201d Egypt has been trading in roughly the same FX range for months, he said, adding that the balance of payments is holding up, reserves are growing gradually, and FCY inflows are financing the economy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cExports have been picking up over the past couple of quarte<\/strong><strong>rs, a<\/strong><strong>nd if you look at <\/strong><strong>GDP growth per quarter, export-driven industries have been one of the main drivers,\u201d<\/strong> said Morsy, highlighting that companies like TMG, Edita, and Cleopatra have successfully expanded their international reach. Still, there\u2019s plenty policymakers can do to support the sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Amr Helal, CI Capital\u2019s CEO of the sell-side investment bank, told us <a target=\"_blank\" rel=\"noopener\">earlier this<\/a><a target=\"_blank\" rel=\"noopener\">month<\/a> that foreign investors are closely watching export-oriented companies, seeing them as a hedge against FX volatility, thanks to their natural FX earnings and competitive cost structures.<\/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\">What\u2019s quietly improving on the EGX<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some of the notable achievements in 2025 mentioned by Morsy include <\/strong>a rise in market capitalization, improved trading liquidity, and a growing number of stocks now meeting the minimum size requirements for foreign investors. \u201cThis is something very important for foreign investors to start looking at because many of the foreign investors have thresholds. They have minimum levels in terms of deployment into stocks, with a minimum level of liquidity, and a minimum of market capitalization. So these improvements would start attracting foreign investors.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>With just two trading weeks left in the year, the benchmark EGX30 is up <\/strong><strong>42.3% YTD.<\/strong><\/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\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/spotlight\/\">SPOTLIGHT<\/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=\"678581\" 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=\"678581\">\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\">Logistics<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/whats-really-happening-with-that-mto-for-alexandria-containers\/\">\r\n                            Why AD Ports is launching an MTO for Alexandria Container and Cargo Handling                        <\/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\/18\/whats-really-happening-with-that-mto-for-alexandria-containers\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/whats-really-happening-with-that-mto-for-alexandria-containers\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/whats-really-happening-with-that-mto-for-alexandria-containers\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=What\u2019s really happening with that MTO for Alexandria Containers?&url=https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/whats-really-happening-with-that-mto-for-alexandria-containers\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/whats-really-happening-with-that-mto-for-alexandria-containers\/&title=What\u2019s really happening with that MTO for Alexandria Containers?\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=What%E2%80%99s+really+happening+with+that+MTO+for+Alexandria+Containers%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F12%2F18%2Fwhats-really-happening-with-that-mto-for-alexandria-containers%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/whats-really-happening-with-that-mto-for-alexandria-containers\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2578.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"678582\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/whats-really-happening-with-that-mto-for-alexandria-containers\/2578-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2578.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2578.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2578.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2578.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-678581\" class=\"content-area-description single-story post-678581 post type-post status-publish format-standard has-post-thumbnail hentry category-logistics tag-ad-ports tag-adq tag-alexandria-container-and-cargo-handling tag-enterpriseam tag-logistics tag-ma-watch 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>ADQ is c<\/strong><strong>onsolidating its holdings of Alexandria Container and Cargo <\/strong><strong>Handling Company (<\/strong><strong>ALCN<\/strong><strong> on the EGX) in one platform \u2014 is it a prelude to something <\/strong><strong>bigger? <\/strong>The stripped-down language in regulatory filings often doesn\u2019t tell the full story:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The headline:<\/strong> AD Ports Group is <a target=\"_blank\" href=\"https:\/\/www.adportsgroup.com\/en\/news-and-media\/2025\/12\/15\/ad-ports-group-announces-intention-to-launch-mandatory-tender-offer-for-alexandria-container\" style=\"\" rel=\"noopener\">launching a mandatory tender offer<\/a> for EGX-listed ALCN, a move that would give the Abu Dhabi ports operator direct majority control of one of Egypt\u2019s largest container terminal operators.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What it really means:<\/strong> AD Ports kinda-sorta already has control of the company \u2014 the MTO is just making it official. AD Ports <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0e068cb1-c27d-4b58-a86d-d1301fff60ee\/adq-secures-indirect-majority-control-of-alexandria-container-&-cargo-handling-company\" style=\"\" rel=\"noopener\">bought a 19.3% stake in ALCN last month<\/a> from the PIF\u2019s Saudi Egyptian Investment Company. Alpha Oryx, a sister company of AD Ports under their shared parent ADQ, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4a11664-2159-45ba-ba2f-bf0d3dfd3978\" style=\"\" rel=\"noopener\">owns 32%<\/a>. That effectively means Abu Dhabi\u2019s premier sovereign wealth fund already controls ALCN through two vehicles. The tender will consolidate those holdings under one roof \u2014 AD Ports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it\u2019s going down this way:<\/strong> Under Egyptian securities law, any shareholder that wants to acquire 33% or more of a listed company has to launch an MTO for up to 100% of the company\u2019s shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> AD Ports is offering EGP 22.99 per share, targeting \u201cclose to 32%\u201d uptake to secure majority control. The Madbouly government, which holds 40%, isn\u2019t selling \u2014 it\u2019s in Alex Containers for the long term, waiting for the asset to appreciate before monetizing further, we\u2019re told. The transaction is expected to close in 2Q 2026 if AD Ports gets the green light from the Financial Regulatory Authority, among other agencies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> ALCN operates Alexandria and El Dekheila ports (which account for c. 60% of the Alexandria region\u2019s container capacity) and handles about 1.1 mn TEUs annually. And ALCN is a cash-machine, having turned in an <a target=\"_blank\" href=\"https:\/\/www.pif.gov.sa\/en\/news-and-insights\/newswire\/2025\/ad-ports-group-acquires-saudi-egyptian-investment-companys-equity-stake-in-alexandria-container-and-cargo-handling-company\/\" style=\"\" rel=\"noopener\">EGP 8.37 bn top line last year<\/a>, with an adjusted EBITDA margin of 64%. AD Ports, meanwhile, already <a target=\"_blank\" href=\"https:\/\/www.adportsgroup.com\/en\/news-and-media\/2022\/09\/14\/ad-ports-group-completes-acquisition-of-majority-stakes-in-egypts-transmar-and-transcargo-intl\" style=\"\" rel=\"noopener\">owns majority stakes<\/a> in our friends at Transmar (the nation\u2019s premier shipping line) and stevedoring operator TCI. ADP is building Noatum Ports at Safaga terminal (set to start operating by the end of 2026) as well as KEZAD East Port Said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What to watch:<\/strong> Does ALCN become a standalone investment or the anchor of an integrated Egyptian (or African) ports platform?<\/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\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\/ad-ports\/\">AD Ports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alexandria-container-and-cargo-handling\/\">Alexandria Container and Cargo Handling<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"678583\" 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=\"678583\">\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\">A MESSAGE FROM CIRA EDUCATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/cira-global-ventures-invests-to-grow-falcon-academy-into-a-prominent-k-12-platform-for-schools-in-the-us\/\">\r\n                            CIRA Global Ventures invests to grow Falcon Academy into a prominent K-12 platform for schools in the US                        <\/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\/18\/cira-global-ventures-invests-to-grow-falcon-academy-into-a-prominent-k-12-platform-for-schools-in-the-us\/\" 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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In 2024, CIRA Education, the established education flagship of Egypt, looked beyond its shores and saw a strategic imperative in the world\u2019s most competitive market. <strong>This story belongs to CIRA Global Ventures (CGV), CIRA\u2019s dedicated expansion engine, which has delivered a historic first: the institutional presence of an Egyptian education group in the US.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This landmark entrance was secured through the acquisition of a significant minority <\/strong><strong>stake in Falcon Academy, Inc<\/strong>., near the strategic corridor of Washington, DC and Northern Virginia. Falcon Academy is not simply a school; it is a rapid success story, already ranking as one of North America\u2019s fastest-growing institutions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">This foundational investment is the powerful catalyst driving our vision forward. It\u2019s not just about stability;<strong> it\u2019s designed for accelerated transformation: skyrocketing our capacity to introduce high school grade levels and pioneering a cutting-edge campus focused on integrated STEM education.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Crucially, Falcon Academy\u2019s success lies in its unique positioning. It is a dynamic hybrid model designed for the modern global citizen.<strong> It expertly blends advanced, IB-trained academic programs with the rich grounding of Middle Eastern values and ethics. <\/strong>This specific, high-quality offering fills a massive void, directly serving the extensive and diverse Arab and Asian diaspora across the US.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">For CIRA, this is only the prelude. <strong>The vision is for Falcon Academy to serve as the <\/strong><strong>blueprint, a scalable model of excellence ready for replication across different US locations.<\/strong> This strategic, step-by-step movement is the living proof of <strong>CIRA's commitment to global expansion, reinforcing its leadership position in Egypt while firmly planting its flag on new shores to build a truly international education network.<\/strong><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/a-message-from-cira-education\/\">A MESSAGE FROM CIRA EDUCATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cira-education\/\">CIRA Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/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=\"678585\" 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=\"678585\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/can-we-convince-hot-money-to-stick-around-a-bit-longer\/\">\r\n                            Gov\u2019t looking to introduce incentives to encourage longer-tenor holdings in hot money market                        <\/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\/18\/can-we-convince-hot-money-to-stick-around-a-bit-longer\/\" 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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But some USD 9 bn is held by investors who move into and out of positions quickly, chasing high rates. Those are the kind of flows that can reverse fast when conditions change. Slightly lower, but stable, rates tend to attract higher-quality investors; elevated real yields bring riskier capital, the official said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s in the package:<\/strong> Simplified primary dealer procedures, measures to get more banks into the primary market, new incentives that are still being finalized, and a tech upgrade to link trading, settlement, and clearing systems, we\u2019re told. The Egyptian Exchange is separately working to boost liquidity and pricing efficiency \u2014 and bring in new investors \u2014 for government bonds and T-bills, EGX chief Islam Azzam said at a conference this week. <strong>Average daily trading in the secondary market has already hit EGP 60 bn<\/strong>, according to Azzam. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The goal here is to reward primary dealers<\/strong> who attract long- and medium-term institutional capital as officials try to turn the local debt market into a more-structural asset class rather than a high-yield playground.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New instruments on the way:<\/strong> The Ministry is also planning to launch a retail debt market for the first time next year, we\u2019re told, adding to its recent rollout of sovereign sukuk, zero-coupon bonds, and floating-rate notes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> The Finance Ministry launched Egypt\u2019s first-ever local sovereign sukuk in October. The program\u2019s second issuance in mid-November was 11x oversubscribed, prompting the Ministry to increase its December issuances \u2014 the third tranche raised EGP 5.5 billion. The sukuk program targets EGP 200 billion by June 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> The reforms are designed to support our bid to rejoin JPMorgan\u2019s local-currency EM bond index, from which we were turfed in 2024 when the FX crisis blocked hot-money investors from getting out of the market. Officials at FinMin are also looking to stretch out the maturity profile of Egypt\u2019s debt stock.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When\u2019s it happening?<\/strong> Look for piecemeal implementation over at least a year, the official told us, alongside the rate cuts most market watchers expect in 2026. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s working on it: <\/strong>The Finance Ministry is working with the Central Bank and the Financial Regulatory Authority on the new framework, which aims to boost liquidity in the debt market while attracting longer-term investors.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"678587\" 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=\"678587\">\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\">RENEWABLES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/karm-holding-lands-tdas-first-ever-solar-plot\/\">\r\n                            Karm Holding to set up 40 MW solar power plant in Marsa Allam                        <\/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\/18\/karm-holding-lands-tdas-first-ever-solar-plot\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/karm-holding-lands-tdas-first-ever-solar-plot\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/karm-holding-lands-tdas-first-ever-solar-plot\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Karm Holding lands TDA\u2019s first-ever solar plot&url=https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/karm-holding-lands-tdas-first-ever-solar-plot\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/karm-holding-lands-tdas-first-ever-solar-plot\/&title=Karm Holding lands TDA\u2019s first-ever solar plot\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Karm+Holding+lands+TDA%E2%80%99s+first-ever+solar+plot+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F12%2F18%2Fkarm-holding-lands-tdas-first-ever-solar-plot%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/karm-holding-lands-tdas-first-ever-solar-plot\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/911.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"678588\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/karm-holding-lands-tdas-first-ever-solar-plot\/911-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/911.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"911.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/911.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/911.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-678587\" class=\"content-area-description single-story post-678587 post type-post status-publish format-standard has-post-thumbnail hentry category-renewables tag-enterpriseam tag-karm-solar tag-renewables tag-solar-power 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>The Tourism Development Authority is allocating land for renewable energy <\/strong><strong>projects for the first time<\/strong>, with Cairo-based Karm Holding (formerly Karm Solar) securing the inaugural deal: a 500k sqm site south of Marsa Allam Airport for a 40 MW off-grid solar plant. The usufruct agreement includes a 2% revenue share \u2014 a new model for TDA, which has previously only allocated land for hotels and resorts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers:<\/strong> The site, regulated by TDA and the New and Renewable Energy Authority, is separate from Karm's existing land in the area and part of a broader 2 mn sqm allocation. Construction could begin as early as 1Q 2026 if final approvals come in time, with first power expected within 36 months, a Karm spokesperson tells us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The plant will serve multiple tourism customers<\/strong> via a dedicated distribution network and substation. Battery storage is expected to be part of the design to handle overnight demand. Karm is also studying desalination projects in the area through subsidiary KarmWater.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> The transaction signals that the Madbouly government sees private solar as critical infrastructure for tourism in remote areas like Marsa Allam, where operators have historically relied on diesel generators. The off-grid model allows decentralized power without waiting for grid extension \u2014 and offers a template for other underserved tourism zones while burnishing the industry\u2019s sustainability credentials.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/karm-solar\/\">Karm Solar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/solar-power\/\">solar power<\/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=\"678589\" 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=\"678589\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/generosity-from-canada-network-quality-awards-for-vodafone-egypt\/\">\r\n                            Canada inks agreements for grants to Egypt worth EGP 552 mn to help boost women and food security                        <\/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\/18\/generosity-from-canada-network-quality-awards-for-vodafone-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/generosity-from-canada-network-quality-awards-for-vodafone-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/generosity-from-canada-network-quality-awards-for-vodafone-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Generosity from Canada + network quality awards for Vodafone Egypt&url=https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/generosity-from-canada-network-quality-awards-for-vodafone-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/generosity-from-canada-network-quality-awards-for-vodafone-egypt\/&title=Generosity from Canada + network quality awards for Vodafone Egypt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Generosity+from+Canada+%2B+network+quality+awards+for+Vodafone+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F12%2F18%2Fgenerosity-from-canada-network-quality-awards-for-vodafone-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/generosity-from-canada-network-quality-awards-for-vodafone-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/923.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"678590\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/generosity-from-canada-network-quality-awards-for-vodafone-egypt\/923-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/923.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"923.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/923.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/923.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-678589\" class=\"content-area-description single-story post-678589 post type-post status-publish format-standard has-post-thumbnail hentry category-kudos tag-enterpriseam tag-kudos tag-telecoms tag-vodafone-egypt 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>Our Thursday Kudos column recognizes members of our community who have done well. <\/strong>Want to send us a submission? Drop it to us on <a target=\"_blank\" href=\"mailto:egypt@enterpriseam.com\" style=\"\" rel=\"noopener\">egypt@enterpriseam.com<\/a> and use the word \u201cKudos\u201d somewhere in your subject line. <\/p>\n<p class=\"tag-border-left\"> Canada has EGP 552 mn for women\u2019s empowerment <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our friend Ulric Shannon<\/strong>, Canada\u2019s ambassador to Egypt, and Planning Minister <strong>Rania Al <\/strong><strong>Mashat<\/strong> inked agreements on three development projects worth a combined EGP 552 million focused on women's empowerment and food security. The projects will roll-out nationwide, including in Aswan, Cairo, Alexandria, Damietta, Upper Egypt, and the Delta. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The agreements add to Canada\u2019s existing EGP 1.4 bn portfolio here<\/strong>, spanning health, education, women's support, and climate-smart agriculture.<\/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\">Vodafone Egypt takes network reliability awards<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Vodafone Egypt secured top honors for both mobile and fixed network performance in <\/strong><strong>the 2025 benchmarking report by global network evaluator Umlaut. <\/strong>The recognition, which marks three consecutive years of mobile leadership and two for fixed networks for the operator, specifically distinguished Vodafone for Best in Network Reliability, the company said in a statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The achievement serves as proof of concept for Vodafone\u2019s heavy infrastructure pivot. <\/strong>Over the past 25 years, the company has funneled over EGP 100 bn into the Egyptian market, including a recent EGP 30 bn multi-year agreement with Telecom Egypt to leverage its fiber-optic network.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecoms\/\">TELECOMS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n    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href=\"https:\/\/api.whatsapp.com\/send?text=Of+app-ification%2C+golden+licenses%2C+and+Egyptian+banks+in+Iraq+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2025%2F12%2F18%2Fof-app-ification-golden-licenses-and-egyptian-banks-in-iraq%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/of-app-ification-golden-licenses-and-egyptian-banks-in-iraq\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1019.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"678594\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/of-app-ification-golden-licenses-and-egyptian-banks-in-iraq\/1019-jpg-29\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1019.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1019.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1019.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1019.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-678593\" class=\"content-area-description single-story post-678593 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-banking tag-capital-markets tag-construction tag-efg-corp-solutions tag-enterpriseam tag-financial-regulatory-authority tag-iraq tag-real-estate tag-thndr wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"tag-border-left\">FRA keeps up the pace in opening up the retail-focused real estate investment market<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Six companies have landed licenses from the FRA to operate in real estate <\/strong><strong>funds, factoring, and asset management<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02vdDrHywJQ8dd46WXzTGXfB2HqsFa6qP1jdaEBZbm3RTn5PE62VEmdpWsoCjcB4gLl\" style=\"\" rel=\"noopener\">statement<\/a> from the authority. It\u2019s the latest in what we think of as toward the app-ification of Egyptian real estate market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown: EFG Corp-Solutions<\/strong> is broadening its NBFI footprint after securing a license to add mortgage finance to its existing operations. Digital brokerage <strong>Thndr<\/strong> is now authorized to bundle its own real estate investment funds \u2014 moving from a pure distributor to a product creator \u2014 while <strong>Nawy Shares<\/strong> secured a license to manage funds, effectively institutionalizing the \u201cfractional property\u201d model. Rounding out the list were <strong>BFI Cash<\/strong> (factoring), <strong>Awayed<\/strong> (real estate funds), and <strong>Okaz<\/strong> (asset management).<\/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\">Golden licenses for two new manufacturing plants <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Two projects worth a combined EGP 15.1 bn will move towards completion faster after <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0KfC55fQe1VAdjhRhQZ6vC9h7ZM1Ki1UBpwE9g3FdtSTxHpkrj3Jv8otHJdbo3LUdl\" style=\"\" rel=\"noopener\">landing golden licenses<\/a><\/strong> <strong> from Cabine<\/strong><strong>t.<\/strong> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Mansour Auto\u2019s EGP 6.3 bn MAC Mobility & Manufacturing plant in 6 October City<\/strong> will assemble passenger cars, light and medium transport vehicles, buses, and automotive components. The project is expected to come online in 2027 and could create as many as 1k jobs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- China\u2019s Deli Group is building an EGP 8.8 bn plant in Tenth of Ramadan<\/strong>, where the company will manufacture stationery (including office supplies and school products) as well as sports goods. The project is also expected to come online in early 2027.<\/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\">Cairo banks eying Baghdad?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A number of Egyptian banks are exploring potential joint ventures in Iraq<\/strong><strong>.<\/strong> <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2025\/12\/16\/1936484\" style=\"\" rel=\"noopener\">Al Borsa<\/a> writes that Iraqi Central Bank Governor Ali Al Alaq said Egyptian lenders are studying potential partnerships with Iraqi peers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The why:<\/strong> More Egyptian companies are moving into Iraq. By covering their needs on the ground there, Egyptian lenders can provide the letters of credit, performance bonds, and payroll services that have long been the primary friction points for local contractors and exporters looking to capitalize on Iraq\u2019s massive construction appetite. Non-construction companies are also looking at Iraq, including pathfinder Edita Food Industries, which earlier this year moved a bakery line there in a bid to accelerate its rollout there.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And it's a two-way street, with Al Alaq noting that Baghdad is awaiting CBE approval to <\/strong><strong>reopen the Egyptian branch of Iraqi state-owned lender Rafidain Bank<\/strong>, which was shuttered years ago due to regulatory hurdles.<\/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\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-corp-solutions\/\">EFG Corp-Solutions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iraq\/\">Iraq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/thndr\/\">Thndr<\/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=\"678595\" 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=\"678595\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/wonder-why-markets-are-edgy-about-the-circular-nature-of-ai-investing-weve-got-the-rundown\/\">\r\n                            Wonder why markets are edgy about the \u201ccircular nature\u201d of AI investing? We\u2019ve got the rundown.                        <\/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\/18\/wonder-why-markets-are-edgy-about-the-circular-nature-of-ai-investing-weve-got-the-rundown\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/wonder-why-markets-are-edgy-about-the-circular-nature-of-ai-investing-weve-got-the-rundown\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/wonder-why-markets-are-edgy-about-the-circular-nature-of-ai-investing-weve-got-the-rundown\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Wonder why markets are edgy about the \u201ccircular nature\u201d of AI investing? We\u2019ve got the rundown.&url=https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/wonder-why-markets-are-edgy-about-the-circular-nature-of-ai-investing-weve-got-the-rundown\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/wonder-why-markets-are-edgy-about-the-circular-nature-of-ai-investing-weve-got-the-rundown\/&title=Wonder why markets are edgy about the \u201ccircular nature\u201d of AI investing? 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The Dow and S&amp;P followed suit. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s really spooking traders:<\/strong> It\u2019s not one deal, but the structure of the entire AI buildout. Investors are growing uneasy about what\u2019s become common to call the \u201ccircular nature\u201d of AI spending. (A bit confused about what this \u201ccircular nature\u201d thing is? More on that below.) <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That\u2019s brought the dotcom question back <\/strong>on the op-ed pages and on business TV. By nearly every valuation metric, US equities are at their most expensive since 2000. <a target=\"_blank\" href=\"http:\/\/wsj.com\/finance\/stocks\/the-eerie-parallels-between-ai-mania-and-the-dot-com-bubble-f99be6fe\" style=\"\" rel=\"noopener\">The WSJ\u2019s James Mackintosh<\/a> goes deep into the structural parallels: heavy infrastructure spending financed by debt (fiber optic cables then, data centers now), a single-minded market focus on one theme, and \u201cpicks and shovels\u201d suppliers being the ones who really rake-in the profits (Cisco then, Nvidia now). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That backdrop has traders spooked about today\u2019s US consumer price data.<\/strong> The figure for November is due out this morning (US East coast time). Economists expect headline inflation at 3.1% year-on-year \u2014 a cooler print could calm nerves, and a hotter one could accelerate the selloff.<\/p><p class=\"tag-border-left\">Enterprise Explains<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Confused about the \u201ccircular nature\u201d of AI investment? We\u2019ve got the rundown for <\/strong><strong>you<\/strong>, because it\u2019s going to be in the headlines more and more heading into 2026. It\u2019s a lot, but it\u2019s not rocket science \u2014 just follow the money:<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It starts with the data centers Big Tech is building.<\/strong> Oracle, Microsoft, Google, and Amazon are collectively committing hundreds of bns to AI infrastructure. Oracle alone has USD 248 bn in data center lease commitments \u2014 up nearly 150% in just three months.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Those data centers are serving AI companies including OpenAI and Anthropic<\/strong>, who need massive \u201ccompute\u201d to train and run their models. The Oracle project that Blue Owl pulled out of? It\u2019s being built for OpenAI.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But Big Tech is also funding the AI companies\u2026<\/strong> Microsoft has poured bns into OpenAI, and Amazon (as of yesterday) looks like it\u2019s following suit. Google and Amazon are investors in Anthropic. Oracle and SoftBank are partners in OpenAI\u2019s massive USD 500 bn (yes, half-a-tn) Stargate infrastructure project. (That\u2019s *far* from an exhaustive list\u2026)<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And the AI companies are losing money hand-over-fist.<\/strong> Generative AI is, as the WSJ put it, \u201cpriced well below what it costs to produce.\u201d OpenAI, Anthropic, and others are burning cash, subsidizing usage to build market share. Google and Microsoft are the only players using their own cash to grow.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That\u2019s the circle:<\/strong> Tech giants invest in AI startups. The AI startups pay tech giants for cloud compute. Tech giants book revenue and justify more infrastructure spending. The spending is financed by debt \u2014 and the debt is repaid by lease income from \u2026 the very same AI startups that are burning investor cash.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The worry: What if someone breaks the circle? <\/strong>If investors stop writing tickets because, say, corporate buyers slow their AI rollouts on the back of slow-to-materialize returns on expensive AI pilot projects? Then it all grinds to a stop: The data centers are still there. AI companies, Big Tech, and others building for them are still saddled with the debt they took on to build-out data centers. And the tenants can\u2019t pay.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/am.jpmorgan.com\/us\/en\/asset-management\/adv\/insights\/market-insights\/market-updates\/on-the-minds-of-investors\/does-circularity-in-ai-deals-warn-of-a-bubble\/\" style=\"\" rel=\"noopener\">JP Morgan<\/a><\/strong><strong> is (gently) urging caution<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/features\/2025-10-07\/openai-s-nvidia-amd-deals-boost-1-trillion-ai-boom-with-circular-deals\" style=\"\" rel=\"noopener\">Bloomberg<\/a> has a data-packed rundown if you want more, and pieces by both <a target=\"_blank\" href=\"https:\/\/www.theatlantic.com\/economy\/2025\/12\/nvidia-ai-financing-deals\/685197\/\" style=\"\" rel=\"noopener\">The Atlantic<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/12\/15\/technology\/ai-risks-debt.html\" style=\"\" rel=\"noopener\">New York Times<\/a> highlighting a once-obscure company named CoreWeave are must-reads.<\/p><p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets tracked Wall Street losses <\/strong>amid the AI-fueled sell-off, with Japan\u2019s Nikkei leading losses, and South Korea\u2019s Kospi following closely behind. <strong>Over on Wall Street<\/strong>, futures are hovering near the flatline as investors await inflation data out later today. <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">41,504<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.2% (YTD: +39.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 47.53<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 47.66<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 47.54<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 47.64<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">21.00% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">22.00% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,414<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: -13.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,953<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +5.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6,109<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.0% (YTD: +18.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6,721<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.2% (YTD: +14.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,774<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: +19.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro <\/strong><strong>Stoxx<\/strong><strong> 50 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,681<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +16.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 60.61<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 4.12<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 4,366<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 86,672<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9% (YTD: -7.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P Egypt Sovereign Bond Index<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">980.33<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +26.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P MENA Bond &amp; Sukuk<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">151.72<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.0% (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-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>VIX (Volatility Index)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">17.62<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+6.9% (YTD: +1.6%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 1.2% at yesterday\u2019s close<\/strong> on turnover of EGP 5.4 bn (0.8% above the 90-day average). Local investors were the sole net buyers. The index is up 39.6% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Misr Cement (+6.2%), Raya Holding (+4.9%), and Beltone Holding (+3.5%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Orascom Development (-3.4%), CIB (-2.8%), and Ibnsina Pharma (-2.1%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"678597\" 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=\"678597\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/my-morning-routine-ahmed-el-attal-chairman-of-el-attal-holding\/\">\r\n                            My Morning Routine: Ahmed El Attal, chairman of El Attal Holding                        <\/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\/18\/my-morning-routine-ahmed-el-attal-chairman-of-el-attal-holding\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Speaking to us this week is Ahmed El Attal (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ahmed-elattal00\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), chairman of <a target=\"_blank\" href=\"https:\/\/www.elattal.com\/\" style=\"\" rel=\"noopener\">El Attal Holding<\/a>. Edited excerpts from our conversation:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My name is Ahmed El Attal, and I\u2019m the chairman of El Attal Holding <\/strong>\u2014 a leading local player in contracting, real estate development, and industry. I represent the third generation of my family to run the group. I joined the company when I was around 15 years old and became the chairman at the age of 21. I am also married and the proud father of three children, the eldest of whom is 14 years old.<\/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>Unlike some others in the sector, I don\u2019t let a suit and tie stop me from climbing onto <\/strong><strong>rooftops to scrutinize every detail<\/strong>, which allows me to oversee the process in person and turn my ideas into reality. In the afternoon, I take on my role at the company headquarters, reviewing results, following up on operations, and meeting with CEOs as well as external partners. This is where I focus on strategy, while a team of young professionals undertakes execution.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Attal Group was founded in 1948 as a family-owned contracting company<\/strong>, but now, after 80 years, the company has expanded to include several companies specializing in contracting, real estate development, design, and execution of infrastructure projects. But in its history, the group has faced rapid rises followed by sharp declines, confronting the first, second, and even third generations of the company\u2019s management with challenges.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is what pushed me to focus on transforming the company into an institutionalized <\/strong><strong>operation and adopting governance in its management.<\/strong> This also includes a plan to list on the EGX, which is not only to secure financing, but to ensure better governance, smoother succession from one generation to the next, and the long-term continuity of the company for 100 or even 200 years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I don't buy the idea that there\u2019s a real estate bubble in Egypt.<\/strong> Annual demand is estimated at around 1 mn units, but supply covers only 50\u201360% of that demand. The real problem in the sector is funding. The real estate sector needs stronger support from the banking sector through adequate credit facilities and making mortgage financing more broadly available.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The real estate sector is undergoing a remarkable transformation at the moment. <\/strong>Demand is not only strong for residential units, but is also rising for hotel apartments, especially with the opening of the Grand Egyptian Museum. The market has become broader and more diverse \u2014 spanning residential, commercial, and administrative segments \u2014 but the most important real trend shaping the scene is the growing demand for vacation units.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019m quite routine-driven. <\/strong>My day begins right after the fajr prayer. I dedicate an hour to reading and browsing physical newspapers, before heading to the gym where I spend about 90 minutes. After that, I visit the group\u2019s construction sites to inspect progress and ensure operations are on track.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The only constants in my day are exercise and prayer. <\/strong>Working out gives me energy and vitality, while prayer brings me spiritual relief, which eases work pressures and clears my mind. To maintain my focus and stay organized, I rely on a small, dedicated team of three people.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Work-life balance is difficult these days. <\/strong>I barely spent time with my eldest daughter when she was young, and I didn\u2019t properly see my kids grow up because I used to work nearly 18 hours a day. But technology helped, and daily video calls kept us connected, although it\u2019s never the same as being physically present. My wife is my greatest supporter. She took on the full responsibility of raising our children, especially since I\u2019d often come home after midnight, leaving her to handle their school routines every morning.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I think I inherited the habit of putting work before family from my father.<\/strong> I really only got to know him by going with him to work. Now I\u2019ve adopted some of the family traditions myself, including Friday being a weekly sanctuary for the whole family. I go to Friday prayer with my kids, then we spend the rest of the day together. This time always restores my balance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When work\u2019s over, I don\u2019t turn on the TV or scroll through social media. <\/strong>The first thing I do to relax is put my phone completely aside. The only time I really feel disconnected from the world is the 30\u201360 minutes I spend each night with my wife. She tells me about everything that happened to her and the kids that day. I like taking some time away from all the pressure of decisions and meetings.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What do I look forward to in the future? <\/strong>Spending more of my time with my family and taking a trip without having to worry about any meetings or executive teams. Professionally, I hope to gradually transition into more of an honorary chairman role, where the day-to-day operations run smoothly without my direct involvement. I\u2019d only pop into the office occasionally to review reports and sign off on major decisions. In addition to the EGX listing, we\u2019re pushing ahead with setting up real estate funds, with the group already close to launching its first one. The company will also expand into the Saudi and Omani markets in 2026, widening our global presence, which currently includes Malaysia.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The best advice I ever got came from my father<\/strong>, who told me: \u201cFear God in what you do.\u201d I believe success comes down to three essential elements: piety, passion, and consistency. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-attal-holding\/\">El Attal Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"678599\" 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\/18\/678599\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-678599\" class=\"content-area-description single-story post-678599 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>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\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>Color on Qatar\u2019s Egypt investment pipeline | EGX coming off life support? | What\u2019s AD Ports doing with ALCN? | A new North Coast development playbook<\/p>\n","protected":false},"featured_media":678571,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-678570","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"49d8d674-5b35-4ab1-9583-161dd1eafe77","teaser":"Color on Qatar\u2019s Egypt investment pipeline | EGX coming off life support? | What\u2019s AD Ports doing with ALCN? | A new North Coast development playbook","photo_url":"https:\/\/ent.news\/2025\/12\/928.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>At last, we have a USD 35 bn gas deal in place - EnterpriseAM Egypt<\/title>\n<meta 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