{"id":679944,"date":"2026-01-05T00:00:00","date_gmt":"2026-01-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=679944"},"modified":"2026-01-05T08:48:34","modified_gmt":"2026-01-05T08:48:34","slug":"were-importing-less-lng-as-domestic-production-improves","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/were-importing-less-lng-as-domestic-production-improves\/","title":{"rendered":"We\u2019re importing less LNG as domestic production improves"},"content":{"rendered":"<section id=\"679946\" 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=\"679946\">\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\/2026\/01\/05\/intl-players-want-in-on-egyptalum\/\">\r\n                            Int\u2019l players want in on EgyptAlum                        <\/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\/2026\/01\/05\/intl-players-want-in-on-egyptalum\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/05\/intl-players-want-in-on-egyptalum\/1369-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/1369.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1369.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/1369.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/12\/1369.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-679946\" class=\"content-area-description single-story post-679946 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-egyptalum tag-enterpriseam tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people. <\/strong>The C suite may still be on Christmas break this week, but government is busy \u2014 and showing no sign that the drumbeat of reforms that was the hallmark of last year\u2019s newsflow will slow in 2026. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Up first: <\/strong>GAFI, the agency responsible for attracting and regulating domestic and foreign investment, has a new boss, and it\u2019s a smart appointment. <strong>Mohamed El Gawsaky<\/strong> was a veteran of <strong>LinkdotNet<\/strong> and <strong>Orange<\/strong> before moving to the CIT ministry, where he spearheaded the government\u2019s drive to have global tech outfits invest in Egypt. He was most recently Investment and Foreign Trade Minister Hassan El Khatib\u2019s right-hand for planning, trade, and digital transformation. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Gawsaky\u2019s tech chops are going to be key in his new role: <\/strong>El Khatib has made it clear that digital transformation is at the heart of making it easier to do business in Egypt. He told us on stage at the EnterpriseAM Egypt Forum in October that he wants to cut the number of agencies that have their hands\u2019 in the pockets of businesses \u2014 and to streamline the massive menu of fees that we all have to pay. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Making it easier for the private sector to operate is a key feature of the Finance Ministry\u2019s <\/strong><strong>2030 roadmap. <\/strong>We recently had a sneak peek at the policy document backing it \u2014 and we\u2019re happy to report that it includes three things that should make Egyptian and foreign business leaders alike very happy:<\/p><ul>\n<li>\u201cNo new burdens on taxpayers\u201d \u2014 government-speak for <strong>no new taxes<\/strong>;<\/li>\n<li>\u201cStreamlining\u201d fees into three buckets \u2014 meaning Hassan is confident he can deliver on his promise that we\u2019ll all have <strong>clarity on what we need to pay, to which government agency, and when<\/strong> \u2014 and all of it entirely online (eventually);<\/li>\n<li><strong>Growth in the 5-6% range<\/strong> for as far as the eye can see.<\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO MAKING HEADLINES on this fine winter morning:<\/strong><\/p><ul>\n<li>We have a deep dive into what\u2019s going on with natural gas imports, where a cooler winter, improving domestic production, and a long-term supply contract with Qatar are allowing us to lock-in supplies at a lower cost; <\/li>\n<li>And officials hope that the sale of a 30% stake in EgyptAlum could not just bring the plant into the modern age, but generate USD 300 mn or more in proceeds. <\/li>\n<\/ul><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have the rundown on all of that and more in this morning news well, below. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But first, a couple of quick public service announcements: <\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>Public sector workers are getting a mid-week break <\/strong>after Prime Minister Moustada Madbouly declared Wednesday, 7 January, a paid holiday for the public sector in observance of Coptic Christmas, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1443114251192324?ref=embed_post\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. Expect the Labor Ministry to make a similar announcement later today or tomorrow morning for the private-sector. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** We here at EnterpriseAM are publishing on Wednesday morning<\/strong> and taking Thursday off in its place. We\u2019ll be back in your inbox at our customary hour on Sunday, 11 January. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>It\u2019s another chilly day in Cairo, with a high of 19\u00b0C and a low of 9\u00b0C, according to our favorite weather app. You can expect the mercury to rise tomorrow through Thursday, with a high of 26\u00b0C, before it settles once again into the high teens this weekend and into next week.<\/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\">Watch this space <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>P<\/strong><strong>RIVATIZATION \u2014 Int\u2019l players eyeing a piece of EgyptAlum: <\/strong>The Madbouly government has received offers from three international players \u2014 including one Emirati and another from the Gulf \u2014 looking to become EgyptAlum\u2019s development partner, a government source tells EnterpriseAM. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The mechanism: <\/strong>The state is offering for sale a 30% stake in EgyptAlum to be funded via a capital increase. It\u2019s looking for a partner that will take on what the official called a \u201ccomprehensive development plan\u201d with the aim of doubling production capacity to 600k tons per year while also investing in a foil plant, an aluminum oxide refinery, and a line to produce wheels for the automotive industry.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our source gave a wide range for the expected value of the transaction<\/strong>, putting it at USD 300-600 mn and emphasizing that 100% of the proceeds would stay in the company. \u201cPrevious offers were very low and we have looked at the feasibility of a stock market listing,\u201d the source said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EU\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/govt-is-working-to-shield-industry-from-the-eus-carbon-tax\/\" style=\"\" rel=\"noopener\">new carbon tax<\/a><\/strong><strong> is clearly ringing in the official\u2019s ears<\/strong>, saying, EgyptAlum is \u201cfocusing on transitioning to renewable energy to ensure we keep pace with global changes, especially the requirements of the European market.\u201d Norway\u2019s Scatec is building a 1 GW solar facility to supply Egypt Aluminum with the power it needs to fire its furnaces using clean energy. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What the timeline? <\/strong>Officials could select a bidder by the end of this month. <\/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=\"wwtt2\"><\/a> <strong>REAL<\/strong><strong> ESTATE<\/strong><strong> \u2014 Where <\/strong><strong>will Samla and Alam El Roum residents move after <\/strong><strong>the Qatari Diar agreement? <\/strong>The New Urban Communities Authority has decided on Matrouh\u2019s Al Ghaba Al Shagariya to house Samla and Alam El Roum residents, who will soon clear the area ahead of the land transfer to <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/11\/06\/qatar-to-invest-usd-29-7-bn-in-north-coast-project-2\/\" style=\"\" rel=\"noopener\">Qatari Diar<\/a>, two government sources told EnterpriseAM. Al Ghaba Al Shagariya is currently undergoing extensive infrastructure work ahead of welcoming the people of Alam El Roum.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why does this matter?<\/strong> Resettling the area\u2019s current residents is key to starting full work on the project in East Marsa Matrouh, opening the door for dozens of contracting and real estate development companies to kick off infrastructure and utility projects. Squatting by residents with no legal title to land has been a persistent issue for some developers on the Mediterranean coast for generations.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Across the coast, developers have long had to coexist with local Bedouin groups <\/strong>that charge for access to developers\u2019 sites, with no contractor going in or out that is not approved by a member of the group.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What the watch for next:<\/strong> The Qatar Investment Authority-owned company will announce the lead developer on the project within the coming weeks, 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>ELECTIONS \u2014<\/strong> <strong>Independent <\/strong><strong>candidates and the pro-government Mostaqbal Watan Party <\/strong><strong>dominated reruns of elections for the House of Representatives<\/strong>, National Election Authority Chairman Hazem Badawy announced in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/neaegypt\/videos\/849869554699079\" style=\"\" rel=\"noopener\">press conference<\/a>. Of the 27 successful candidates in the rerun, 10 are independents while nine represent the Mostaqbal Watan Party. The results follow the runoff round held across 19 constituencies where initial results were annulled by the NEA due to suspected foul play during the first phase.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What next?<\/strong> The completion of the parliamentary elections will now see President Abdel Fattah El Sisi appoint a prime minister and task that person with forming a new Cabinet. While there\u2019s no requirement that the current cabinet resign, it typically does so. Cabinet will then present its policy program to the House for a vote of confidence shortly after its formation. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Policy continuity is key: <\/strong>There\u2019s been little chatter (<a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/28\/who-will-sit-at-the-cabinet-table-in-2026\/\" style=\"\" rel=\"noopener\">after a short bout last week<\/a>) about whether Prime Minister Moustafa Madbouly will continue in office. Key for the business community is that the cabinet economic group \u2014 which includes Ahmed Kouchouk (Finance) and Hassan El Khatib (Investment) \u2014 return to office with mandates to push ahead with the smart policies that are now starting to bear fruit. <\/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<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\" rel=\"noopener\">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>All eyes are still set firmly on the situation in Venezuela, <\/strong>as the US clarifies its position moving forward, with US Secretary Marco Rubio explaining that the US plans to dictate policy in the country rather than physically run or occupy it, as was previously suggested by US President Donald Trump. Trump issued a warning to Venezuela\u2019s current de facto leader, Delcy Rodr\u00edguez, of a \u201cbig price\u201d to pay if she does not comply with the conditions the US has set in order for the country to avoid any further attacks by the US. Those include: That the oil industry be \u201crun for the benefit of the people\u201d; an end to drug trafficking and \u201cgang problems\u201d; as well as the removal of Colombian militant groups and that the government not \u201ccozy up\u201d to \u201cHizbollah and Iran.\u201d <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rodr\u00edguez has so far been \u201cgracious\u201d and open to meeting the US\u2019 conditions<\/strong>, Rubio said. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the meantime, the US plans to continue to block the entry and exit of oil tankers as \u201cleverage\u201d over Maduro\u2019s successor.<\/strong> \u201cWe are going to make our assessment on the basis of what they do, not what they say publicly,\u201d Rubio added. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^The must-read on the topic: <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/fed60da2-4e43-400f-9635-5f2ed8dca452\" style=\"\" rel=\"noopener\">Donald Trump warns Venezuelan rulers as Washington prepares to dictate policy<\/a> <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Thousands of travelers were stranded for hours on Sunday in both Greece and Italy<\/strong>, as a collapse of radio frequencies hit air traffic communications in Greece and technical issues with the landing guidance system and poor visibility affected an airport in Milan that is mainly a hub for Ryanair flights, Reuters reported separately <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/greek-airports-halt-flights-due-radio-frequency-issues-2026-01-04\/\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/thousands-stranded-overnight-italys-bergamo-airport-halts-flights-2026-01-04\/\" style=\"\" rel=\"noopener\">here<\/a>. Flights have begun to resume after the issues were resolved. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2495.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue:<\/strong> We look at how one cloud lab is leading a new wave of Egyptian expertise as a service to fill the skills gap.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptalum\/\">Egyptalum<\/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=\"679948 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=\"679948\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/05\/679948\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-679948\" class=\"content-area-description single-story post-679948 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>\n<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 &mdash; right through the final countdown and beyond.<\/span><\/p>\n<p><span style=\"font-weight:700;\">New Year&rsquo;s 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=\"679949\" 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=\"679949\">\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\/2026\/01\/05\/lng-imports-to-dip-this-month-thanks-to-strong-inventory-improving-domestic-production-2\/\">\r\n                            Egypt to halve January LNG imports as stock and domestic production improve                        <\/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\/2026\/01\/05\/lng-imports-to-dip-this-month-thanks-to-strong-inventory-improving-domestic-production-2\/\" 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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This move comes amid sufficient strategic reserves and a dip in domestic demand thanks to cooler temperatures this winter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Contractual flexibility:<\/strong> Egypt benefits from a \u201cflexibility\u201d clause (\u00b110%) in its contracts with foreign suppliers, the source tells us, allowing it to postpone or cancel non-essential shipments without incurring hefty penalties. Flows are expected to return to normal by March, but with a greater focus on addressing actual gaps.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>At the same t<\/strong><strong>ime, the government is looking to diversify import sources through a new <\/strong><strong>strategic partnership with Doha. <\/strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOPMR\/posts\/pfbid0xgvmkyNsUYyPJQDLQqJWc3goEXDNeZd4FqJj3xT4uM1KATBJBAFsoCqEWTojYhobl\" style=\"\" rel=\"noopener\">Oil Minister Karim Badawi<\/a> and his <a target=\"_blank\" href=\"https:\/\/qna.org.qa\/en\/news\/news-details?id=qatarenergy-egyptian-petroleum-ministry-sign-mou-to-supply-egypt-with-lng&date=4\/01\/2026\" style=\"\" rel=\"noopener\">Qatari counterpart Saad Sherida Al Kaabi<\/a> signed an MoU yesterday to boost cooperation in LNG sales and imports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s on the table?<\/strong> As part of the agreement, state-owned Egas and QatarEnergy will <a target=\"_blank\" href=\"https:\/\/x.com\/qatarenergy\/status\/2007799702876717308\" style=\"\" rel=\"noopener\">supply<\/a> Egypt with up to 24 LNG cargoes for the summer of 2026, to be delivered at Ain Sokhna and Damietta ports. Talks on a longer-term supply agreement are also underway. QatarEnergy \u2014 which currently holds interests in six offshore blocks \u2014 plans to launch a new drilling campaign and has appetite to invest in energy here over the next five years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Taken together, this is good news if you\u2019ve been concerned about twin problems: <\/strong>The spectre of rolling blackouts (thanks to poor supply) and the high cost to the state of imports. The Madbouly government has, over the past year, been working to get out of \u201cemergency mode\u201d and rebuild a long-term supply of natural gas rather than scrambling to secure cargoes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Reducing shipments and locking in fresh supply from Qatar on a long-term contract will save hundreds of mns in FX<\/strong> and reflects policymakers\u2019 confidence in the stability of flows from the East Gas Pipeline (the agreement we <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/netanyahu-finally-green-lights-our-usd-35-bn-natural-gas-deal\/\" style=\"\" rel=\"noopener\">inked with Israel last month<\/a>) as well as an uptick in domestic natural gas production.<\/p>\n<p class=\"tag-border-left\">Where did it go wrong in the first place? <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Playing catch-up: <\/strong>The current slowdown in E&P activity is the direct result of a multi-year underinvestment cycle triggered by the FX crisis. The government prioritized securing immediate fuel imports over settling arrears with international oil companies, allowing outstanding dues to balloon to a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/11\/egypt-has-paid-78-of-its-arrears-to-foreign-oil-and-gas-companies-since-march\/#:~:text=The%20government%20now%20only%20has,country%20with%20big%2Dticket%20investments.\" style=\"\" rel=\"noopener\">peak of USD 4.5 bn by early 2024<\/a>. Big players like Eni and BP scaled back drilling and development programs, causing natural gas production to slip to a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/03\/24\/domestic-gas-production-falls-to-8-year-low-in-january\/\" style=\"\" rel=\"noopener\">seven-year low<\/a>. While the government has since cleared much of the backlog \u2014 paying out <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/02\/20\/tmg-reports-egp-504-bn-in-total-sales-in-2024\/\" style=\"\" rel=\"noopener\">over USD 5.5 bn<\/a> since June 2024 \u2014 the lag time between capital injection and new production left Egypt a net LNG importer.<\/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\">Lots of new exploration in the pipeline<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Incentives recently launched by the Oil Ministry appear to be bearing fruit. <\/strong>An industry source tells us that oil majors including Shell, BP, and Eni have already begun deploying new investments based on the results of recent seismic surveys. The government plans to extend drilling licenses for approximately 480 exploratory wells over the next five years, with investments estimated at USD 5.7 bn, which reinforces the Oil Ministry\u2019s target of reducing total imports by 30% by 2026. These efforts are expected to add 1-1.5 bcf\/d of natural gas to our domestic production.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And there\u2019s more to come: <\/strong>The Oil Ministry plans to launch ten exploration and development tenders, our source says, adding that the first phase of an extensive seismic survey of the Mediterranean Sea will kick off soon.<\/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\">A regional energy hub once again?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Officials are talking up the new agreement to sell natural gas to Lebanon. <\/strong>An agreement to <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/30\/our-lng-supplies-will-soon-feed-lebanons-power-grid\/\" style=\"\" rel=\"noopener\">supply Lebanon with gas<\/a> via Jordan and use regasification units at the port of Aqaba will bolster Egypt's role as a logistics provider in the energy sector, our source tells us. Egypt will receive a \u201cregasification commission\u201d for managing these flows to neighboring countries, a competitive price that positions Egypt among regional gas suppliers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And the market is in our favor:<\/strong> As a result of settling arrears, suppliers are now competing to offer Egypt prices that are approximately USD 2 lower per mn British thermal units compared to last year, our source tells us.<\/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\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\/energy\/\">energy<\/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\/oil-ministry\/\">Oil Ministry<\/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=\"679951\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF 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class=\"stk-block-content stk-inner-blocks stk-od6rt8i-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-ic077jw\" data-v=\"4\" data-block-id=\"ic077jw\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ic077jw-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ic077jw-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"679952\" 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=\"679952\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/05\/finmin-lays-out-2030-roadmap\/\">\r\n                            An inside look at the Finance Ministry\u2019s 2030 strategy                        <\/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\/2026\/01\/05\/finmin-lays-out-2030-roadmap\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                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data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/1565.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/1565.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-679952\" class=\"content-area-description single-story post-679952 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-finance-ministry 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 Finance Ministry unveiled its 2026\u20132030 medium-term strategy, focusing on curbing <\/strong><strong>public debt and encouraging private sector growth<\/strong>, according to a strategy document reviewed by EnterpriseAM. The strategy pivots away from emergency fiscal management toward a period of consolidation and \u201cbalanced\u201d growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The strategy sees the economy growing 5-6% each year<\/strong> over the medium term, driven by stronger private investment and non-oil exports as inflation cools and interest rates decline. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the fiscal front, the ministry aims to raise revenues gradually to 16.5% of GDP<\/strong> <strong>in the <\/strong><strong>coming fiscal year<\/strong>, targeting 17.4% by FY 2029-30. State revenues will be supported by improving tax revenues, projected to reach 15.2% of GDP by the end of the period. At the same time, growth in public spending is expected to slow from 22% in FY 2023-24 to 21.4% by FY 2029-30.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>These measures are expected to narrow the budget deficit to 4.9% of GDP<\/strong> starting next fiscal year, down from about 7% in the current fiscal year, while bringing the general government debt down to 65.4% of GDP from 79.1%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ministry expects growth to <\/strong><strong>recover to<\/strong><strong> 5.3% next fiscal year<\/strong>, accelerating to 6.2% by FY 2029-30, supported by an expanded industrial base, rising private investment, stronger manufacturing and tourism activity, and the launch of major projects along the Red Sea and Mediterranean coasts.<\/p>\n<p class=\"tag-border-left\"> Taxation and the private sector <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Efficiency over hikes:<\/strong> The ministry thinks reforms will help tax revenues for the state rise to 1% of GDP without an increase in tax rates. Instead, it will focus on phasing out exemptions with limited inflationary impact to help finance more effective social protection programs and streamlining fees for businesses and investors into just three categories: operating, licensing, and establishment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Leveling the playing field:<\/strong> The strategy affirms commitment to expanding the role of the private sector, including a cap on public investment while reducing debt servicing costs to around 35% of GDP. This will be achieved through greater reliance on concessional external financing, which is expected to account for 60% of issuances, as well as debt swaps and debt-for-investment arrangements.<\/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\">Debt management<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The strategy assumes a decline in yields on government debt instruments<\/strong>, with average returns expected to fall to 17% in the next fiscal year and to around 12% by the end of the medium term, alongside a slowdown in economic deflation to 7.5% from 11.5%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ministry also plans to extend the average maturity of public debt to 4.5\u20135 years<\/strong>, expand the use of non-traditional instruments such as sukuk and retail bonds, introduce longer-term and floating-rate local instruments, and activate the secondary market through buybacks and swaps.<\/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\"> On the social development side<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The strategy prioritizes human and social development<\/strong>, directing any fiscal surpluses toward higher spending on healthcare and education. It paves the way for further development of a clear roadmap for universal health ins. by June 2026, expanding coverage to underserved groups, and addressing energy security and global risk factors over the medium term.<\/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\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"679954\" 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=\"679954\">\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\">YEAR IN REVIEW<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/05\/a-banner-year-for-the-egx-built-on-exit-liquidity-2\/\">\r\n                            A banner year for the EGX, built on exit liquidity                        <\/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\/2026\/01\/05\/a-banner-year-for-the-egx-built-on-exit-liquidity-2\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The broader market followed the upward trend, swelling 33% to hit the EGP 3 tn mark by year-end, up from EGP 2.25 tn in 1Q. While the annual report isn\u2019t out yet, we compiled our data using the bourse\u2019s <a target=\"_blank\" href=\"https:\/\/egx.com.eg\/en\/Services_Reports.aspx\" style=\"\" rel=\"noopener\">periodical reports<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While the headline numbers suggest a bull market, a deeper look reveals this wasn't <\/strong><strong>a broad-based boom driven by fundamental optimism. <\/strong>Instead, the rally appears to be a massive asset transfer engineered largely by local institutions seeking a hedge against currency volatility and inflation.<\/p>\n<p class=\"tag-border-left\">The defining theme of the year was the institutional floor<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While benchmark indices climbed, the rally was fueled almost entirely by a single group: domestic institutions. <\/strong>Foreign and regional institutions were net sellers every quarter \u2014 excluding 1Q when regional big money was a net buyer \u2014 offloading roughly EGP 20 bn in listed equities over the year, excluding block trades. Local retail investors \u2014 often assumed to be chasing inflation hedges \u2014 also sold into the strength, dumping a net EGP 8.2 bn, excluding block trades. Domestic funds and state-linked entities were the market\u2019s sole pillar of support, ramping up their net buying from EGP 2.3 bn in 1Q to a massive EGP 11.2 bn in 4Q, excluding block trades. The market has effectively decoupled from foreign sentiment, becoming a closed loop of local liquidity.<\/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\">This flood of institutional money didn\u2019t lift all boats equally <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For the first three quarters, liquidity heavily favored inflation trades<\/strong> \u2014 especially real estate and non-bank financial services (NBFS), which consistently led trading values as investors sought asset-backed hedges and yields. However, the fourth quarter saw a sharp rotation into laggards. Building materials erupted as the top-performing sector in 4Q with a 59.3% gain, followed by education services (+35.0%). This late-year rotation triggered explosive moves in specific main market stocks: Egyptians Housing Development & Reconstruction was the year's breakout star, rallying 603% in 4Q alone, while Misr Cement jumped 135%.<\/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\">Capitalizing on the rally<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Corporates wasted no time utilizing these elevated valuations<\/strong> to repair balance sheets and raise liquidity. The year saw a flurry of heavyweight corporate actions.<strong> Qalaa Holdings<\/strong> executed a massive EGP 8.99 bn capital increase in 4Q, following earlier raises by <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee209b1c-9979-40e5-8f38-907496bb7717\/beltone-secures-egp-10.5-bn-in-blockbuster%253cmark%253e-capital-increase%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">Beltone Holding<\/a><\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee209b1c-9979-40e5-8f38-907496bb7717\/beltone-secures-egp-10.5-bn-in-blockbuster%253cmark%253e-capital-increase%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">(EGP 10.5 bn) in 2Q<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The market also welcomed new blood<\/strong>, with <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/905844a1-0a76-4570-ba03-7d66b3be0192\/%253cmark%253ebonyan%253c%2Fmark%253e%25e2%2580%2599s-share-price-closed-flat-on-debut-yesterday\" style=\"\" rel=\"noopener\">Bonyan for Development<\/a><\/strong> listing in 1Q, followed by <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/496fc745-2d04-4df7-a40d-629522d417d2\/%253cmark%253evalu%253c%2Fmark%253e-shares-jump-to-hit-price-ceiling-on-egx-debut\" style=\"\" rel=\"noopener\">U Consumer Finance<\/a><\/strong> in 2Q, and <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/655856ad-4c01-4d92-8e05-dc7506db3731\/%253cmark%253enational-printing%253c%2Fmark%253e-company-soars-on-trading-debut,-gaining-9.4%2525\" style=\"\" rel=\"noopener\">National Printing<\/a><\/strong> in 3Q. Conversely, the market lost a giant when <strong>Ezz Steel <\/strong>delisted in 1Q, taking over 500 mn shares off the board.<\/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 policy pivot<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The most critical moment for the market didn\u2019t happen on the trading floor<\/strong> \u2014 it happened in the Finance Ministry. The incoming capital gains tax (CGT) hung like a dark cloud over the exchange for most of the year... then came the U-turn. Finance Minister Ahmed Kouchouk\u2019s confirmation that the government would swap the complex CGT for a unified <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/db9cfbea-1eca-4e45-aa89-f7acced8dae6\/planned-egx-stamp%253cmark%253e-tax%253c%2Fmark%253e-to-be-accompanied-with%253cmark%253e-tax%253c%2Fmark%253e,-investment-incentives\" style=\"\" rel=\"noopener\">0.125% stamp duty<\/a> was the reprieve the market had been waiting for.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But it gets better:<\/strong> The ministry is currently studying <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7014266f-9933-4939-a1d0-090a5ac1e509\/what-do-the-stock-market-incentives-offered-under-the-second-package-of%253cmark%253e-tax%253c%2Fmark%253e-facilities-entail%3F\" style=\"\" rel=\"noopener\">a three-year tax exemption<\/a> for newly listed companies (tied to KPIs like trading volume) alongside tax exemptions for holding companies selling stakes in subsidiaries and on income generated from the sale of unlisted shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters:<\/strong> Taxing \u201cdry transactions\u201d previously killed IPO readiness, CI Capital sell-side CEO Amr Helal <a target=\"_blank\" rel=\"noopener\">told us<\/a> last month. The new policy signals that the state finally prioritizes market depth over short-term revenue.<\/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 IPO pipeline: why did we lag?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While Saudi Arabia averaged c. 20 main market listings a year in a flood of IPOs, Egypt struggled to close transactions. <\/strong>The trickle of IPOs is due to a structural gap, EFG Hermes\u2019 Global Head of Investment Banking Mostafa Gad previously told us, notably the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/67cb408e-846f-4ca7-aff9-dc2ad060c9c1\/what-foreign-investors-want-from-egypt:-growth,-plain-and-simple.\" style=\"\" rel=\"noopener\">lack of deep domestic institutional capital<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Large IPOs require foreign participation to clear, yet for much of the year, foreign investors were on the sidelines amid concerns over FX repatriation.<\/strong> That dynamic has now shifted: with FX backlogs cleared and repatriation flows normalizing, the underlying mechanism is functioning again.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The National Printing IPO should act as a template for what comes next<\/strong>, Gad said, highlighting a model that brings in a cornerstone investor early to anchor the book, add credibility, and de-risk the offering for the broader market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government has reportedly set a target to raise USD 3-4 bn by October 2026 through privatization<\/strong>, with expected transactions including Banque du Caire, Safi, Wataniya, and the remaining stake in Bank of Alexandria. EGX head Islam Azzam said the EGX expects <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/28ccbacc-c3ee-44fc-93dc-304828a072a5\/the-state-is-gearing-up-for-a-busy-year-for-privatization\" style=\"\" rel=\"noopener\">at least eight new offerings in 2026<\/a>, including players in the healthcare and tourism sectors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Qalaa Holdings is moving ahead with the growth and deleveraging strategy <\/strong>it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/92ee780f-3720-47ae-a707-f461b45713d2\/%253cmark%253eqalaa-holdings%253c%2Fmark%253e-to-unlock-value-through-egx-listings,-convertible-bonds,-and-portfolio-optimization\" style=\"\" rel=\"noopener\">outlined in its 1Q results<\/a>, with plans to list six of its subsidiaries on the EGX within two years and extend the figure to 12 companies over six years, Chairman Ahmed Heikal told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2026\/01\/04\/%D8%A7%D9%84%D9%82%D9%84%D8%B9%D8%A9-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D9%84%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D9%86%D8%B3%D8%AA%D9%87%D8%AF%D9%81-%D8%B7%D8%B1%D8%AD-6-%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D8%AA%D8%A7%D8%A8%D8%B9%D8%A9-%D8%AE%D9%84%D8%A7%D9%84-%D8%B9%D8%A7%D9%85%D9%8A%D9%86\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> yesterday. Qalaa\u2019s board had previously approved listing Dina Farms, National River Ports Management, Asec Automation, and two undisclosed companies.<\/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\">Of brokerages<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EFG Hermes remained the top brokerage of the year with a 20.1% market share<\/strong>, beating Thndr (8.3%) and Mubasher (7.2%), according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/1\/43.pdf\" style=\"\" rel=\"noopener\">bourse\u2019s ranking (pdf)<\/a> which tracked firms\u2019 performance during 2025.<\/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\"> We also beat Saudi\u2019s TASI and the UAE\u2019s DFM and ADX<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>If you had told an asset manager in January 2025 the EGX would end the year outperforming Riyadh, Dubai, and Abu Dhabi, they likely would have laughed. <\/strong>Yet, 12 months later, the numbers are undeniable: The EGX30 was up over 40% in 2025 \u2014 closing near an all-time high of 41.8k points \u2014 while the Saudi TASI shed 14%, Abu Dhabi managed only single-digit gains, and Dubai was up 17% \u2014 impressive only in isolation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story of 2025 is a story of two commodities:<\/strong> Oil and interest rates. Saudi Arabia spent 2025 grappling with oil. Weak global demand and Opec+ production cuts weighed heavily on the region's petro-economies. Saudi Aramco\u2019s 15% slide dragged the TASI down, creating a liquidity crunch that dampened sentiment across the Kingdom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt, conversely, spent 2025 focused on interest rates.<\/strong> After the Central Bank of Egypt (CBE) kick-started its easing cycle, the gravity shifted. In the Gulf, high US rates and low oil prices were a headwind. In Egypt, the expectation of a cheaper cost of capital acted as rocket fuel.<\/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 happens next<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX enters 2026 with momentum, but the \u201ceasy money\u201d has been made, given that the 40% gains of 2025 came from a low base <\/strong>\u2014 and amount to a partial re-rating after devaluation. To advance in 2026, domestic equities need to offer a high-growth story that outpaces the cost of money. In an environment where the riskfree rate is still hovering above 20%, dividend yields aren't enough to attract foreign capital, according to Gad. Why buy a stock for a 5% yield when you can get 20% in a T-bill?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The forecast:<\/strong> CI Capital expects the CBE to cut rates by c. 600 bps in 2026. Crucially, even with these cuts, Egypt will offer a positive real yield of c. 3%, keeping the carry trade alive while igniting equity valuations.<\/p>\n<ul>\n<li><strong>The bull case: <\/strong>The government delivers on the privatization roadmap using the cornerstone model, inflation cools and enables deep rate cuts, and foreign inflows accelerate as Egypt looks like the only high-growth story in a sluggish MENA.<\/li>\n<li><strong>The bear case:<\/strong> The \"trading hours\" change kills liquidity, IPOs are priced too aggressively (refusing to leave money on the table), and geopolitical tensions spike, spooking the very tourists and investors the country needs.<\/li>\n<\/ul>\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\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/year-in-review\/\">YEAR IN REVIEW<\/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=\"679956\" 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=\"679956\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/05\/gafi-has-a-new-ceo-3\/\">\r\n                            Mohamed El Gawsaky named new GAFI boss                        <\/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\/2026\/01\/05\/gafi-has-a-new-ceo-3\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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El Gawsaky succeeds Hossam Heiba, who had led the authority since late 2022.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who is El Gawsaky?<\/strong> El Gawsaky makes the move to GAFI from the Investment Ministry, where he most recently served as Assistant Minister for Planning, Trade, and Digital Transformation. Before joining the Investment Ministry, El Gawsaky served as Undersecretary at the CIT Ministry, where he acted as the primary liaison between the government and tech multinationals to drive FDI into the ICT sector. El Gawsaky spent 15 years in the private sector before entering government service. <\/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\/general-authority-for-freezones-and-investment\/\">General Authority for Freezones and Investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/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=\"679958 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=\"679958\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/05\/679958\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-679958\" class=\"content-area-description single-story post-679958 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/264.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"679959\" 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=\"679959\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/05\/62-consortiums-are-interested-in-managing-developing-hurghada-airport\/\">\r\n                            Egypt sees heavy appetite for Hurghada Airport management tender                        <\/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\/2026\/01\/05\/62-consortiums-are-interested-in-managing-developing-hurghada-airport\/\" 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\/2026\/01\/05\/62-consortiums-are-interested-in-managing-developing-hurghada-airport\/')\">\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\/2026\/01\/05\/62-consortiums-are-interested-in-managing-developing-hurghada-airport\/\">\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=62 consortiums are interested in managing, developing Hurghada Airport&url=https:\/\/enterpriseam.com\/egypt\/2026\/01\/05\/62-consortiums-are-interested-in-managing-developing-hurghada-airport\/\">\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\/2026\/01\/05\/62-consortiums-are-interested-in-managing-developing-hurghada-airport\/&title=62 consortiums are interested in managing, developing Hurghada Airport\">\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=62+consortiums+are+interested+in+managing%2C+developing+Hurghada+Airport+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F01%2F05%2F62-consortiums-are-interested-in-managing-developing-hurghada-airport%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\/2026\/01\/05\/62-consortiums-are-interested-in-managing-developing-hurghada-airport\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/1\/71.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"679960\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/05\/62-consortiums-are-interested-in-managing-developing-hurghada-airport\/71-jpg-34\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/1\/71.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"71.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/1\/71.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/1\/71.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-679959\" class=\"content-area-description single-story post-679959 post type-post status-publish format-standard has-post-thumbnail hentry category-last-nights-talk-shows tag-aviation tag-enterpriseam tag-last-nights-talk-shows 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 Civil Aviation Minis<\/strong><strong>try\u2019s ambitious plans to overhaul the country's airports was the <\/strong><strong>hot topic on last night's talk shows<\/strong>, as minister Sameh Elhefny walked Ala Masouleety's Ahmed Moussa through the the state\u2019s strategy for private sector involvement, infrastructure upgrades, and the digitalization of the traveler experience, during a phone-in last night (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=Zgo5MXizCq8\" style=\"\" rel=\"noopener\">watch, runtime:19:00<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>P<\/strong><strong>rivate sector players are lin<\/strong><strong>ing up for a piece of Egypt\u2019s airports:<\/strong> Some 62 consortiums have already picked up pre-qualification documents to manage and operate Hurghada International Airport, Elhefny said. The airport is being offered as one of 11 Egyptian airports slated for development through public-private partnerships. Each bid must be submitted by a three-way partnership consisting of a specialized airport operator, a global construction firm, and a financing arm. The deadline for pre-qualification is 12 February.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cairo International\u2019s USD 4.5 bn face<\/strong><strong>lift:<\/strong> Development work is accelerating at Cairo International Airport, specifically on the new USD 4.5 bn Terminal 4, according to Elhefny. The ministry is currently conducting fiscal studies to determine if the project will require external funding. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- <\/strong>Departure cards will soon be a thing of the past, with the Madbouly government canceling them starting the end of the month, Elhefny said. The move aims to make the travel experience through Egyptian airports smoother. <\/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\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/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=\"679961\" 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=\"679961\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/05\/global-corp-gb-lease-close-fresh-securitization-issuances-2\/\">\r\n                            Global Corp, GB Lease close fresh securitization issuances                        <\/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 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2026\/01\/05\/global-corp-gb-lease-close-fresh-securitization-issuances-2\/&title=Global Corp, GB Lease close fresh securitization issuances\">\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=Global+Corp%2C+GB+Lease+close+fresh+securitization+issuances+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F01%2F05%2Fglobal-corp-gb-lease-close-fresh-securitization-issuances-2%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\/2026\/01\/05\/global-corp-gb-lease-close-fresh-securitization-issuances-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/1\/61.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"679962\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/05\/global-corp-gb-lease-close-fresh-securitization-issuances-2\/61-jpg-25\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/1\/61.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"61.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/1\/61.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/1\/61.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-679961\" class=\"content-area-description single-story post-679961 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-debt tag-debt-watch tag-enterpriseam tag-international-finance-corporation wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p class=\"tag-border-left\">IFC anchors big Global Corp securitization + GB Lease closes new tranche<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>We saw a flurry <\/strong><strong>of buzzer-beaters at the end of last week<\/strong> as major consumer finance companies looked to book income and replenish their war chests heading into what will likely be a very busy year for the non-bank financial services industry. Tasaheel was first to market, as we noted last <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a0a7e1dc-a1a3-4734-ae46-1ee91d7aba46\/\" style=\"\" rel=\"noopener\">Tuesday<\/a>, followed by:<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- IFC anchors Global Corp's first securitization under new EGP 10 bn program:<\/strong> Our friends at Global Corp closed a EGP 2.48 bn securitized bond issuance with a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/1\/3.pdf\" style=\"\" rel=\"noopener\">first-of-its-kind anchor investment<\/a> from the International Finance Corporation (IFC).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers:<\/strong> The IFC\u2019s <a target=\"_blank\" href=\"https:\/\/disclosures.ifc.org\/project-detail\/SII\/46667\/globalcorp-dcm\" style=\"\" rel=\"noopener\">investment authorization<\/a> includes up to USD 20 mn equivalent in EGP subscription to the issuance as part of a broader USD 40 mn financing package that also includes a five-year senior loan. The issuance \u2014 split into three tranches rated AA+ to A- \u2014 is the first under Global Corp's EGP 10 bn multi-issuance program. The company did not disclose the exact amount bought by IFC in this tranche.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> National Bank of Egypt (NBE), Commercial International Bank (CIB), Arab African International Bank (AAIB), Suez Canal Bank, and Al Baraka Bank acted as underwriters, with Dreny &amp; Partners providing counsel.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- GB Lease closes EGP 4.16 bn tranche under ongoing program: <\/strong>GB Lease &amp; Factoring closed <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/1\/2.pdf\" style=\"\" rel=\"noopener\">a EGP 4.16 bn securitized bond issuance<\/a>, the latest tranche of a previously announced EGP 15 bn, three-year multi-issuance program. The issuance was split into four tranches rated AA+ to A-.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> NBE, CIB, AAIB, Suez Canal Bank, and Banque du Caire acted as underwriters, while CI Capital, CIB, and AAIB served as financial advisors. Dreny &amp; Partners provided counsel.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span 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href=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/05\/oil-markets-unshaken-by-maduro-overthrow-2\/\">\r\n                            Oil markets remain unshaken by Maduro overthrow                        <\/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\/2026\/01\/05\/oil-markets-unshaken-by-maduro-overthrow-2\/\" 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 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/05\/oil-markets-unshaken-by-maduro-overthrow-2\/766-jpg-32\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/766.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"766.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/766.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/766.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-679963\" class=\"content-area-description single-story post-679963 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Global oil markets yawned at the US\u2019 attack on Venezuela, with prices remaining more or <\/strong><strong>less stable<\/strong> as markets had already priced in \u201ca conflict with Venezuela that would impact exports,\u201d <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2026\/01\/03\/trump-venezuela-attack-oil-markets.html\" style=\"\" rel=\"noopener\">CNBC<\/a> says. While a military intervention like the US\u2019 would traditionally trigger a spike in crude prices, Brent fell as much as 1.2% in intraday trading before paring back losses and is now up less than 1%, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-01-04\/latest-oil-market-news-and-analysis-for-jan-5-venezuela-trump\" style=\"\" rel=\"noopener\">Bloomberg<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Venezuela may have vast oil reserves, but its actual production has been falling over the<\/strong><strong> past several years<\/strong>, and the majority of the country\u2019s output is exported to China. The International Energy Agency (IEA) <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-01-03\/oil-market-may-absorb-maduro-shock-amid-abundant-global-supplies\" style=\"\" rel=\"noopener\">is already forecasting<\/a> a 3.8 mn bbl \/ d surplus for 2026. With Venezuela currently producing just 500k bbl \/ d (1% of global output), there isn't enough \u201clive\u201d production to lose to cause a price shock.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A USD 100 bn (very) long play:<\/strong> A US-led, USD 100 bn plan to revive Venezuela\u2019s oil infrastructure is expected to eventually ramp up the country\u2019s oil production again, but analysts are wary that this will be a \u201cyears-long\u201d process, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-01-05\/trump-s-venezuela-oil-revival-plan-is-a-100-billion-gamble\" style=\"\" rel=\"noopener\">Bloomberg<\/a> says. The plan hinges on US oil majors, including Exxon Mobil, Chevron, and ConocoPhillips to invest some USD 10 bn per year \u2014 a roadmap that the White House seemingly has not yet discussed with these private sector players, and one which would hinge on the companies seeing more stability in Venezuela before pouring in more money. It also remains unclear whether markets will actually want the additional oil output that would result from bringing Venezuela\u2019s production back up to historical levels, analysts tell CNBC. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, traders are flocking to haven assets:<\/strong> Gold and silver prices surged as haven demand following the news of the US\u2019 capture of Venezuelan President Nicol\u00e1s Maduro. Gold prices rose sharply \u2014 rising above the USD 4,400 mark for the first time in history \u2014 as investors scrambled for geopolitical hedges, a move mirrored across silver markets. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p><p 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>Markets are starting off the new year in the green<\/strong>, with defense stocks pushing up Asia-Pacific markets in early trading. Japan\u2019s Nikkei, South Korea\u2019s Kospi, Hong Kong\u2019s Hang Seng Index, and mainland China\u2019s CSI 300 are all firmly trading up. Wall Street is likely to follow suit when trading begins later today \u2014 futures indicate the S&amp;P 500 and Nasdaq are set to open in the green, while Dow Jones futures are trading flat. <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">40,898<\/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\">-2.2% (YTD: -2.2%)<\/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>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-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB<\/strong><strong>) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 47.56<\/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-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\">20.00% 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\">21.00% 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\">10,364<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.8% (YTD: -1.2%)<\/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>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\">9,995<\/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: 0.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">6,114<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.1% (YTD: +1.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 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\">6,858<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +0.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-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\">9,951<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +0.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,850<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.0% (YTD: +1.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 61.02<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.46<\/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\">-4.4%<\/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>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 4,406<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 91,725<\/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: +4.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P Egypt Sovereign Bond Index<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">994.42<\/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: +0.1%)<\/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\">151.69<\/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: -0.1%)<\/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>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\">14.51<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.9% (YTD: -2.9%)<\/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 2.2% at yesterday\u2019s close<\/strong> on turnover of EGP 4.6 bn (15.5% below the 90-day average). Local investors were the sole net buyers. The index is down 2.2% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Egypt Aluminum (+7.4%), Misr Cement (+6.4%), and Raya Holding (+4.1%).<\/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 (-5.3%), E-finance (-4.5%), and Fawry (-3.8%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"679965\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">9<\/div>\r\n\r\n                        <p class=\"f-graphik\">BLACKBOARD<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/nawah-scientific-leads-a-new-wave-of-egyptian-expertise-as-a-service-to-fill-the-skills-gap\/\">\r\n                            Nawah Scientific leads a new wave of Egyptian expertise as a service to fill the skills gap<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/nawah-scientific-leads-a-new-wave-of-egyptian-expertise-as-a-service-to-fill-the-skills-gap\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/nawah-scientific-leads-a-new-wave-of-egyptian-expertise-as-a-service-to-fill-the-skills-gap\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1823.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"679966\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/nawah-scientific-leads-a-new-wave-of-egyptian-expertise-as-a-service-to-fill-the-skills-gap\/1823-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1823.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1823.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1823.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1823.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-679965\" class=\"content-area-description post-679965 blackboard type-blackboard status-publish has-post-thumbnail hentry category-blackboard tag-blackboard tag-education tag-enterprise-blackboard tag-enterpriseam tag-healthcare tag-pharma 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>For a decade, the narrative of the Egyptian knowledge economy was all about <\/strong><strong>the brain drain. <\/strong>The country\u2019s most promising scientists, pharmacists, and engineers were seen as a primary export \u2014 individuals who left the local market to find the infrastructure and the capital of Europe or North America.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But a new trend is emerging.<\/strong> A cluster of Egyptian companies that develop individuals\u2019 professional capacities \u2014 led by the likes of cloud lab Nawah Scientific, education-focused healthtech 30Med, and edtech Farid \u2014 is flipping the script. Instead of losing the brains, Egypt is beginning to export the infrastructure to develop expertise elsewhere.<\/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>In the Middle East and Africa, the pharma and medical sectors face a chronic <\/strong><strong>paradox. <\/strong>Universities are producing record numbers of graduates, yet CEOs in the pharma sector consistently complain of a skills deficit.<\/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\">From classroom to cleanroom<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The gap isn't theoretical \u2014 it\u2019s practical.<\/strong> A pharmacy student at a public university in Egypt or a medical researcher in Rwanda may have the intellectual capacity to develop a new drug formulation, but they rarely have access to the ISO-accredited hardware or the standard operating procedures required to meet international regulatory standards.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Traditionally, a university would have to spend mns of USD to build a high-end lab that <\/strong><strong>might be obsolete in five years \u2014 and that\u2019s where companies like Nawah come in. <\/strong>The cloud lab model pioneered by Nawah Scientific \u2014 which has just closed a USD 23 mn Series A round \u2014 changes the ROI on a medical degree. By providing R&D-as-a-service, Nawah effectively becomes the outsourced research campus for the region\u2019s universities, allowing them to bypass the massive capital expenditure of hardware and focus instead on the software of human talent.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nawah\u2019s latest capital injection is earmarked for a massive geographical pivot<\/strong>, with a 10k sqm global research hub in Rwanda to provide scientific research services across East Africa, CEO Omar Sakr tells EnterpriseAM. The healthtech is also planning to double the size of its existing laboratories in Egypt and Saudi Arabia, along with the Kingdom\u2019s first research center.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nawah\u2019s expansions abroad also cement Egypt\u2019s position as a regional research and <\/strong><strong>innovation hub<\/strong>, former General Authority for Investment and Freezones CEO Hossan Heiba tells EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In Egypt, Nawah has already become a critical bridge for many universities. <\/strong>Through <a target=\"_blank\" href=\"https:\/\/www.gu.edu.eg\/2025\/05\/galala-university-pharmacy-students-engage-in-cutting-edge-scientific-exploration-at-nawah-scientific-day\/\" style=\"\" rel=\"noopener\">dedicated days<\/a>, pharma and biotech students move out of lecture halls and into an environment that meets US FDA and ISO-17034 standards. But the importance of this interaction isn\u2019t just about learning how to use a pipette; it\u2019s about learning the language of compliance that global pharma requires.<\/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\">Exporting medical expertise<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While Nawah digitizes the lab, Rology is digitizing the hospital\u2019s diagnostic wing.<\/strong> By using AI to export the expertise of Egyptian radiologists to hospitals in Saudi Arabia and Kenya, Rology is proving that a doctor\u2019s physical location no longer dictates the quality of a diagnosis. It\u2019s an education-as-a-service model where junior doctors in remote areas are mentored by senior experts through the platform\u2019s peer-review layers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Local healthtech 30Med has also set its sights on expanding its medical education to the <\/strong><strong>GCC and across North Africa.<\/strong> Through interactive video content, they solve the continuous professional development problem for the fast-changing sector. This ensures that as pharma becomes more complex, the workforce's knowledge doesn't lag behind.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Even the way we buy medicine is being re-educated by local startups \u2014 and they\u2019re<\/strong><strong> working on expanding regionally too.<\/strong> Platforms like Chefaa and Grinta are transforming the independent pharmacist from a simple retailer into a data-driven health operator. By teaching the business of pharma through their B2B platforms, these companies are professionalizing the pharma supply chain across the region.<\/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 model applies to more than just the pharma sector<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For decision-makers, this shift signifies a move toward distributed expertise<\/strong>, where standardized processes can be exported to markets like Riyadh or Nairobi without the need to physically relocate top-tier talent. As Nawah, Rology, and 30MED scale across the continent and the Gulf, they are proving that the most sustainable way to flip the script on brain drain is to own the platform that develops the brains in the first place. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s greatest export is no longer just its people \u2014 it is often the infrastructure of <\/strong><strong>expertise.<\/strong> We\u2019ve seen this model works for Egypt\u2019s pharma and healthcare industry; the question is: What other sectors are ripe for Egyptian expertise as a service?<\/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\/blackboard\/\">Blackboard<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"679967\" 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\/2026\/01\/05\/679967\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-679967\" class=\"content-area-description single-story post-679967 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;\">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 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;\">12 February (Thursday): Monetary Policy Committee\u2019s first meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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;\">2 April (Thursday): Monetary Policy Committee\u2019s second meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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;\">21 May (Thursday): Monetary Policy Committee\u2019s third meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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: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;\">9 July (Thursday): Monetary Policy Committee\u2019s fourth meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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;\">20 August (Thursday): Monetary Policy Committee\u2019s fifth meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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 style=\"font-weight:400;\">24 September (Thursday): Monetary Policy Committee\u2019s sixth meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>27-29 September (Sunday-Tuesday): 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:400;\">29 October (Thursday): Monetary Policy Committee\u2019s seventh 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;\">DECEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17 December (Thursday): Monetary Policy Committee\u2019s eighth 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;\">Early 2026: 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:400;\">Early 2026: The government will launch the second package of tax breaks. <\/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;\">1Q 2026: 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>1Q 2026: Turkish President Tayyip Erdogan to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/photo.php?fbid=1433492502154499&set=pb.100064812882317.-2207520000&type=3\" style=\"\">visit<\/a><\/span><span style=\"font-weight:400;\"> 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;\">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.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2027: Egypt-EU Summit 2027 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">September 2028: First unit of the Dabaa nuclear power plant begins operations.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Banner year for the EGX | New CEO | 2030 roadmap | Oil markets unshaken.<\/p>\n","protected":false},"featured_media":679945,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-679944","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"92aabfa0-7b4f-4d00-a842-8691190768ba","teaser":"Banner year for the EGX | New CEO | 2030 roadmap | Oil markets unshaken.","photo_url":"https:\/\/ent.news\/2026\/1\/72.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>We\u2019re importing less LNG as domestic production improves - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/were-importing-less-lng-as-domestic-production-improves\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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