{"id":683458,"date":"2026-03-02T00:00:00","date_gmt":"2026-03-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=683458"},"modified":"2026-03-02T14:26:33","modified_gmt":"2026-03-02T14:26:33","slug":"economic-impacts-of-iran-war-mount-as-de-facto-closure-of-hormuz-risks-sending-oil-toward-the-triple-digits","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/economic-impacts-of-iran-war-mount-as-de-facto-closure-of-hormuz-risks-sending-oil-toward-the-triple-digits\/","title":{"rendered":"Economic impacts of Iran war mount as de facto closure of Hormuz risks sending oil toward the triple digits"},"content":{"rendered":"<section id=\"683460\" 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=\"683460\">\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\/03\/02\/cabinet-seeks-private-capital-to-fuel-industrial-growth\/\">\r\n                            Cabinet seeks private capital to fuel industrial growth                        <\/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 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/48.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"683461\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/02\/cabinet-seeks-private-capital-to-fuel-industrial-growth\/48-jpg-27\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/48.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"48.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/48.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/48.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-683460\" class=\"content-area-description single-story post-683460 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseam tag-financial-markers tag-industry tag-industry-ministry tag-ma-watch tag-manufacturing tag-what-were-tracking-today tag-wind-power 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>G<\/strong><strong>ood morning, friends<\/strong><strong>. <\/strong>It is day three of the war in the Gulf, and Egypt continues to push through physically unscathed even as policymakers and investors alike position themselves for a prolonged period of uncertainty. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Critically, every foreign investor in the exit lane yesterday was able to repatriate their <\/strong><strong>funds<\/strong> without hiccup. Dealing rooms at the nation\u2019s banks handled flows with aplomb as the EGP slid 1.7% against the greenback. That\u2019s exactly what you want to see: The exchange rate acting as a shock absorber after the latest in an interminable line of \u201cexogenous shocks,\u201d with zero signs the Central Bank of Egypt has its thumb on the scale. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Finance Ministry is also sounding a note of confidence: <\/strong>Senior officials we spoke with are signalling that they\u2019re not backing away from international markets \u2014 and they\u2019re not going to pay an insane risk premium, either. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, yesterday\u2019s selloff on the EGX was\u2026 modest? <\/strong>The benchmark EGX30 was down 2.5% as traders recovered from a sharp drop at the opening bell. At least one market participant thinks the dip \u2014 coming as it does after last week\u2019s wave of profit-taking after the EGX touched an all-time high \u2014 has opened a window for folks with piles of cash from maturing CDs to enter the stock market. <\/p><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\u2019s news well, below. <\/p><p class=\"tag-border-left\"> From The Dept. of Minor Inconveniences<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our website is down: <\/strong><a target=\"_blank\" href=\"http:\/\/enterpriseam.com\" style=\"\" rel=\"noopener\">EnterpriseAM.com<\/a> is one of the many, many services hosted on Amazon Web Services out of the UAE. The data center that hosts our site \u2014 and the apps and websites of dozens of other brands you know \u2014 was damaged after \u201cobjects hit\u201d it, reportedly starting a fire and leading to a power outage. Our site has been down since mid-afternoon on Sunday and we're yet to hear from Amazon when we can expect it to be back up.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/omny.fm\/shows\/enterpriseam-egypt\" style=\"\" rel=\"noopener\">WISH THIS MORNING\u2019S ISSUE was a podcast? We\u2019ve got you. Tap or click here<\/a><\/strong> to listen to Morning Drive, a 10-minute version of today\u2019s issue crafted for you to enjoy with your morning coffee, while getting the kids ready for school, <strong>or while stomping around the house wondering where the [redacted] you left your [redacted] reading glasses.<\/strong><strong>***<\/strong><\/p><p class=\"tag-border-left\">Watch this space<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>MANU<\/strong><strong>FACT<\/strong><strong>URIN<\/strong><strong>G \u2014 The new Madbouly cabinet is pivoting away from<\/strong><strong> traditional bank-led industrial subsidies toward a market-driven financing model<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02dTNq8uCLsnHoz9GRJzHvhb5mwh3shJhYtt8tYPsMexZtcazL8aMV2BaoZz4CACMul\" style=\"\" rel=\"noopener\">joint statement<\/a> from the Industry and Investment ministries. Five heavyweight investment banks \u2014 Beltone, EFG Hermes, Al Ahly Pharos, CI Capital, and Cairo Capital \u2014 are working with the Sovereign Fund of Egypt to launch a suite of industrial investment funds. These will span debt, equity, and transferable securities, effectively creating a new capital pipeline for manufacturers outside the traditional banking system.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> Egyptian industry has relied for years on subsidized interest rate initiatives from the central bank \u2014 most of which have been rolled back under pressure from the International Monetary Fund. By bringing the Sovereign Fund of Egypt in as a strategic partner, the government is providing a de-risking mechanism intended to crowd in private capital. If successful, this would move industrial growth from a fiscal burden to a capital market play. It also signals that the government is finally listening to the private sector\u2019s plea for liquidity that doesn\u2019t carry 30%+ interest rates.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>The Financial Regulatory Authority is expected to fast-track regulatory approvals for these specific funds. We will also watch for the onboarding phase with export councils and chambers of commerce. Meanwhile, investment banks are expected to announce the initial capital targets for these funds in the coming weeks.<\/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>M&amp;A \u2014 B Investments is looking to acquire a 51% stake in specialty <\/strong><strong>coffee roaster and cafe chain Brown Nose <\/strong>through its EGX-listed subsidiary OB Financial Holding (previously OFH), a company representative tells EnterpriseAM.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The private equity firm tapped Matouk Bassiouny &amp; Hennawy as counsel for the potential <\/strong><strong>acquisition<\/strong>, and the file is currently under review by the Egyptian Competition Authority, we were told.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>B Investments is gunning for its majority stake \u201ceither from day one, or doing <\/strong><strong>a two-step transaction <\/strong>where we acquire a stake now and an additional stake later to allow us to reach majority,\u201d they said. The private equity firm \u201ctypically looks to acquire 25-50% of the target companies,\u201d Chairman Hazem Barakat told us last month, adding that the firm is also looking to deploy EGP 2-3 bn over the next two years. <\/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=\"wwtt1\"><\/a> <strong>INVESTMENT \u2014 The government is mulling a new national investment entity<\/strong><strong> \u2014 likely a holding company \u2014 to centralize Egypt\u2019s economic footprint in Sub-Saharan Africa.<\/strong> Proposed by Foreign Minister Badr Abdelatty during a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02yDKSuVdWFx47DPGKcirzoXAfvPqMBXoU8BzoNmAX7bvnLn2XWEVXW9JThFZbJZHLl\" style=\"\" rel=\"noopener\">meeting<\/a> yesterday, the entity would coordinate fragmented efforts across the continent, focusing on sectors where Egypt holds a clear competitive advantage, including agriculture, mining, and industrial manufacturing.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The proposal specifically calls for the Central Bank of Egypt and the wider banking<\/strong><strong> sector to be baked into the structure.<\/strong> This suggests the government is finally looking to provide the formal financial umbrella \u2014 including trade finance and sovereign backing \u2014 that Egyptian firms have long lacked when competing against state-backed players from China, Turkey, and the GCC.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> While giants like Elsewedy Electric and Arab Contractors have deep roots in the continent, mid-tier Egyptian operators have historically sat on the sidelines due to high geopolitical risk and a lack of institutional de-risking. A single, state-backed vehicle could provide the political cover and financing infrastructure needed to secure large-scale concessions and infrastructure-linked projects that are currently out of reach for individual balance sheets.<\/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>,<\/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\">Happening today<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A staff delegation from the World Bank Group, led by President Ajay Banga, <\/strong><strong>is in town<\/strong> for meetings with senior government officials. The visit takes place under the Bank\u2019s Country Partnership Framework for Egypt for fiscal years 2023-2027, which outlines its financing and advisory priorities, including support for inclusive growth, private sector development, human capital, and climate resilience.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Banga is expected to visit the Integrated Waste Management Facility in Tenth of Ramadan<\/strong>, the flagship infrastructure component of the World Bank-funded USD 200 mn Greater Cairo Air Pollution Management and Climate Change Project. The facility is designed to serve Greater Cairo for up to 50 years, with an initial treatment capacity of around 5k tons per day and sanitary landfill cells capable of accommodating roughly 21 mn tons over the first five years. It is slated for completion by the end of 2026.<\/p><p class=\"tag-border-left\">Happening tomorrow <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Is <\/strong><strong>non-<\/strong><strong>oil private-sector activity poised for a rebound?<\/strong> The private sector awaits S&amp;P Global\u2019s Purchasing Managers\u2019 Index report for February, expected tomorrow, after the index slipped back into red territory <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/04\/dont-let-the-49-8-pmi-headline-fool-you-as-output-continues-to-rise\/\" style=\"\" rel=\"noopener\">last month<\/a> following a short-lived recovery in the two months prior.<\/p><p class=\"tag-border-left\">Data point<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>35.2 TWh \u2014 that\u2019s how much electricity Egypt generated from renewable<\/strong><strong> energy sources in 2025<\/strong>, hitting a new record and marking a 28% y-o-y increase, according to industry publication <a target=\"_blank\" href=\"https:\/\/www.mees.com\/2026\/2\/27\/power-water\/egypt-renewables-surge-to-annual-record\/929097e0-13e9-11f1-a124-2f202365ce8a\" style=\"\" rel=\"noopener\">Mees<\/a>, citing data from the New and Renewable Energy Authority. While total generation figures for the year are still being finalized, the surge likely pushes the share of renewables in the national energy mix comfortably above the c.12% level seen at the start of the decade.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/omny.fm\/shows\/enterpriseam-egypt\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/780.jpg?ssl=1\"><\/a> <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p class=\"tag-border-left\">PSA<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- Expect foggy and rainy conditions in Cairo today<\/strong>, with a high of 18\u00b0C and a low of 9\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s cool with light to moderate showers in Alexandria<\/strong>, with a high of 17\u00b0C and a low of 11\u00b0C.<\/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>The global front pages are all about the regional war and its impact on markets <\/strong><strong>this morning. <\/strong>Between soaring oil prices and a strengthening USD, markets, currencies, and commodities are seeing massive fluctuations as investors look for safety amid all the uncertainty. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Worth reading: <\/strong>The Financial Times is out with a piece looking at <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/31bfc01b-42a8-45f1-85d3-8f973595a456\" style=\"\" rel=\"noopener\">what this all means for the<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/31bfc01b-42a8-45f1-85d3-8f973595a456\" style=\"\" rel=\"noopener\">global economy<\/a>, while the Wall Street Journal dives into what a <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/khameneis-death-leaves-iran-at-historic-turning-pointwithout-a-clear-successor-b9429104?mod=WSJ_home_supertopperbottom_pos_1\" style=\"\" rel=\"noopener\">post-Khamenei Iran could look like<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>From stocks to oil and logistics<\/strong>, we dive into what this all means for us at home in the news well, below.<\/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 take a look at how the education sector has been no exception to the wave of disruptions heralded by AI technology, and how at the center of it all sits the homegrown startup Faheem.<\/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-markers\/\">financial markers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry-ministry\/\">Industry Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wind-power\/\">wind power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"683462 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=\"683462\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/02\/683462\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-683462\" class=\"content-area-description single-story post-683462 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/2\/1521.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:400;\">Somabay at ITB Berlin 2026. Where vision meets the Red Sea.<\/span><\/p>\n<p><span style=\"font-weight:400;\">Somabay returns to ITB Berlin 2026 with a destination that continues to move forward: purposefully, confidently, and with scale.<\/span><\/p>\n<p><span style=\"font-weight:400;\">Rooted in the Red Sea and shaped by a long-term vision, Somabay brings together iconic hospitality, championship sport, restorative wellness, and a fully integrated lifestyle community. From refined resorts and a dynamic marina to world-class leisure and year-round sunshine, every element is designed to create enduring value and meaningful experiences.<\/span><\/p>\n<p><span style=\"font-weight:400;\">We look forward to welcoming you and sharing what&rsquo;s next for Somabay.<\/span><\/p>\n<p><span>Hall 6.2B | Stand 317 &mdash; 3-5 March 2026<\/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=\"683463\" 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=\"683463\">\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\/03\/02\/economic-impacts-of-the-war-on-iran-mount-as-de-facto-closure-of-hormuz-risks-sending-oil-toward-the-triple-digits\/\">\r\n                            No thumb on the scale                        <\/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\/03\/02\/economic-impacts-of-the-war-on-iran-mount-as-de-facto-closure-of-hormuz-risks-sending-oil-toward-the-triple-digits\/\" 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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A few short years ago, an event like the war in the Gulf would have seen quiet verbal instructions relayed by telephone to bankers to slow exit queues and shed reserves in a panicked bid to prop up the EGP. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yesterday, the CBE and the Finance Ministry had a simple (if unwritten) message for the <\/strong><strong>market: <\/strong>We\u2019ve been here before, we know what works and what doesn\u2019t, and we\u2019re going to do the right thing. It\u2019s the second time in less than a year that the central bank, the Finance Ministry, and the banking system have managed a global risk-off with aplomb, and folks \u2014 we\u2019re here for it.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGP slid 1.7% against the greenback yesterday as banks opened to <\/strong><strong>execute exit orders<\/strong> that saw the EGP slip to nearly 49 against the USD. Outflows kept up the pace as none of the US, Israel, or Iran showed signs they would be putting down their weapons anytime soon. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign investors exited positions in domestic debt worth some USD 1.3 bn yesterday<\/strong>, which led to interbank FX volumes clocking in at USD 600 mn by the end of trading, up from USD 320 mn last Thursday and USD 180 mn a week earlier, a bank insider told us. While outflows are expected to continue in the near term, trading activity could begin to stabilize toward the end of the week, our source suggests.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The queue to exit has been orderly and bankers are treating it as a \u201cbusiness as usual\u201d <\/strong><strong>scenario<\/strong> \u2014 very much a replay of the way the market handled outflows in the run-up to (and wake of) Trump\u2019s \u201cLiberation Day\u201d selloff last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We spoke yesterday with a who\u2019s who of bankers and senior government officials, and <\/strong><strong>their message was clear: This <\/strong><strong>storm will pass. <\/strong>\u201cThe current state of exits is expected given the political tensions,\u201d a senior banker told EnterpriseAM, adding that \u201chot money is sensitive to political unrest, but returns quickly with signs of stability.\u201d Officials we spoke to also stressed that net international reserves remain strong \u2014 and emphasized that the exchange rate is being allowed to move to absorb the shock. And it doesn\u2019t hurt that some USD 2.3 bn from the IMF is expected to land in state coffers this week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- The Finance Ministry has a message for the market: <\/strong><strong>It\u2019s business as usual<\/strong> for its local-currency borrowing calendar as it gauges market appetite. \u201c<strong>We will not accept exaggerated yields<\/strong>. A risk premium is expected, but we may reduce the volume of accepted bids until conditions calm down,\u201d a government official involved in the issuance of public debt told us, signaling that the government is not in a position to have to accept any price.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Plans for international offerings remain on track for April<\/strong>, with the source noting it is \u201ctoo early to make a decision\u201d on any delays given the stable underlying economic indicators. <\/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\u2019re keeping a close eye on oil prices<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pundits are still suggesting there\u2019s a risk that oil rockets past USD 100 \/ bbl <\/strong>as Iran looks to choke the flow of crude out of the Gulf. Iran\u2019s Tasnim News Agency claimed that the Strait of Hormuz is \u201ceffectively\u201d closed and some ships <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-02-28\/oil-tankers-avoiding-vital-hormuz-strait-after-us-bombs-iran\" style=\"\" rel=\"noopener\">reported<\/a> receiving a radio broadcast on Saturday \u2014 reportedly from the Iranian navy \u2014 instructing them to leave the waterway as passage is banned.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Brent crude is at USD 75 this morning even after three ships were struck in the region <\/strong><strong>yesterday <\/strong>\u2014 the first <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-03-01\/oman-says-oil-tanker-targeted-off-its-north-coast\" style=\"\" rel=\"noopener\">reported<\/a> maritime attacks of the conflict so far. Attacks have so far been limited to the Arabian Gulf, with the Houthis yet to restart attacks on passing vessels in the Bab El Mandeb strait leading to the Suez Canal.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil tankers seem to have stopped moving through Hormuz<\/strong>, with roughly 240 vessels stopping near the chokepoint \u2014 most around Iran\u2019s Bandar Abbas port, according to <a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/energy\/en\/news-research\/latest-news\/crude-oil\/030126-oil-tanker-traffic-halts-in-strait-of-hormuz-amid-gulf-strikes-cas\" style=\"\" rel=\"noopener\">S&P Global<\/a>. Around 130 of those ships were carrying cargo, but none were loaded with crude.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You can pump it out of the ground, but can you get it to market? <\/strong>While some think a pledge by Opec+ to <a target=\"_blank\" href=\"https:\/\/www.opec.org\/pr-detail\/1619593-1-march-2026.html\" style=\"\" rel=\"noopener\">boost output<\/a> by as much as 206k bbl \/ d starting next month could offer relief, there\u2019s a big catch: the majority of the group\u2019s output comes from nations that are almost entirely reliant on the Hormuz Strait to deliver to the global market. \u201cIn such a scenario, the constraint is not upstream supply capacity but export routes and maritime transit,\u201d Rystad Energy\u2019s Jorge Leon tells EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Keep the gas flowing: <\/strong>To ensure supply keeps up with demand at home, the Oil Ministry is moving to increase LNG bookings by an additional 20 shipments for some USD 1-1.5 bn, starting with 15 shipments this month, after Israel <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/01\/what-does-the-widening-regional-war-mean-for-egypt\/\" style=\"\" rel=\"noopener\">shut off<\/a> 1.1 bcf\/d of Egypt-bound gas, a government official tells EnterpriseAM. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong>Madbouly government is<\/strong><strong> actively studying all potential scenarios regarding the Strait <\/strong><strong>of Hormuz<\/strong>, President Abdel Fattah El Sisi <a target=\"_blank\" href=\"https:\/\/www.presidency.eg\/EN\/%D9%82%D8%B3%D9%85-%D8%A7%D9%84%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1\/%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1-%D8%B1%D8%A6%D8%A7%D8%B3%D9%8A%D8%A9\/news132026\/\" style=\"\" rel=\"noopener\">said<\/a> during the annual iftar hosted by the Armed Forces. He also touched on the closure\u2019s impact on the Suez Canal: \u201cWe have been affected since [the start of Israel\u2019s war on Gaza] and maritime traffic through the Canal has not returned to its normal course, resulting in financial losses.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe cost of [<\/strong><strong>covering<\/strong><strong>] ships, containers, and crews, in addition to the refusal of some <\/strong><strong>international ins. companies to [<\/strong><strong>cover<\/strong><strong>] war risks<\/strong>, will put pressure on global trade in the coming period,\u201d former Suez Canal Authority chairman and Suez Chamber of Shipping head Abdel Qader Gaballah told EnterpriseAM. \u201cFurthermore, exchange rate fluctuations and rising oil prices will all contribute to a significant wave of inflation,\u201d he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ins. premiums are lurching upward:<\/strong> A ship with USD 100 mn worth of goods, which used to pay roughly USD 250k per voyage, will now need to cough up USD 375k, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2dc114d0-5bb3-4fae-b538-9a050954549a\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Most major shipping lines are already steering clear of the Suez Canal<\/strong> \u2014 in the weeks leading up to the conflict, most had been simply testing the waters, Port Said Chamber of Shipping head Adel Lamai tells EnterpriseAM. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Iran\u2019s goal right now is to cause \u201cenough ambiguity to create a de facto chokepoint <\/strong><strong>shock,\u201d <\/strong>Wolfgang Lehmacher, a supply chain and logistics strategist, told EnterpriseAM. Whether you\u2019re talking geopolitical risk or investor confidence, that blurs the line between \u201cnormal\u201d tension and crisis, forcing a persistent risk premium into energy contracts, shipping equities, and port projects linked to Gulf exports, Lehmacher added.<\/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 EGX and the futures market opened to a turbulent morning on the first day of trading<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 closed down 2.5% yesterday at just under 48.0k points<\/strong>, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/3\/38.pdf\" style=\"\" rel=\"noopener\">EGX<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/3\/38.pdf\" style=\"\" rel=\"noopener\">daily bulletin (pdf)<\/a>, stripping some EGP 73 bn worth of market cap. Traders sent the benchmark down 5.6% at the opening bell before buying back in. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign investors were net sellers in just about every sector <\/strong>except defensive plays including healthcare, education, F&B, utilities, and industrials. Banking shares and tech, media, and telecommunications stocks were hardest hit in the selloff. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The quick rally after the initial selloff is a signal that the market expects a short conflict<\/strong>, CI Capital head of research Monsef Morsy tells EnterpriseAM. He notes that while the initial drop was sharp, the fact that stocks were picked up toward the end of the session suggests investors believe the sell-off will be \u201cvery short-lived.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The timing of the derivatives launch proved critical in preventing a total rout<\/strong>, with 52 contracts opened across June and September index futures. \u201cI believe today\u2019s opening drop of 5.6% was an acute panic response to an extraordinary event,\u201d Randa Hamed, managing director of Okaz Asset Management, tells EnterpriseAM. She noted that the introduction of index futures helped the market recover from that opening shock to close the day significantly higher. \u201cFor the first time, investors had a tool to hedge their equity exposure rather than simply sell it. That distinction matters enormously,\u201d Hamed said, adding that the market\u2019s behavior at the 47.7k level suggests some investors actively used these new tools to weather the storm.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The market had found its footing before the geopolitical shock hit.<\/strong> \u201cThe index had pulled back from its all-time high of 52.8k to 48.6k by Thursday \u2014 a move driven largely by profit-taking after a strong rally,\u201d Hamed explained. The earlier selling meant the market was not falling from a peak, allowing the 47.9k level to act as a firm support floor. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For asset managers, the volatility is creating a clear entry point for folks who had been <\/strong><strong>waiting for a dip \u2014 any dip \u2014 to buy.<\/strong> \u201cI see these panic sessions as good chances to identify and build positions in fundamentally sound companies,\u201d Hamed told us, noting that new clients \u2014 armed with liquidity from maturing bank CDs \u2014 have been waiting for such a window to enter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>The outlook is more cautious for sectors with direct exposure to the conflict. \u201cEgypt\u2019s Red Sea resorts and airlines face direct demand destruction as regional airspace closures and travel risk aversion take hold,\u201d Hamed warned. Import-dependent industries face an acute supply chain shock as freight costs surge, while \u201creal estate construction projects with Gulf financing exposure could face some funding uncertainty\u201d as the regional situation remains fluid.<\/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\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maritime\/\">maritime<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-big-story-today\/\">THE BIG STORY TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war\/\">war<\/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=\"683465\" 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=\"683465\">\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\">CATCH UP QUICK: WHAT\u2019S THE STATE OF PLAY IN THE GULF?<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/02\/regional-war-day-three-where-do-things-stand\/\">\r\n                            Where do things stand in the Gulf as of this morning? 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While airstrikes continued to target Iran\u2019s military and political leadership, along with other targets throughout the country, a battered Iran has proved it still has the capabilities to respond and do damage to targets in Israel and Gulf nations on the other side of the Arabian Gulf.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where do things stand this morning? <\/strong>Here\u2019s what we know as of dispatch time this morning:<\/p>\n<ul>\n<li><strong>Top Iranian military and political officials<\/strong>, including the defense minister and commander of the Armed Revolutionary Corps, <strong>were killed<\/strong> in Saturday\u2019s strikes alongside Supreme Leader Khamenei;<\/li>\n<li><strong>A three-man council<\/strong> including Iranian President Masoud Pezeshkian will <strong>run the country during a transitional period<\/strong> until a new supreme leader is chosen;<\/li>\n<li><strong>Strikes on Iran will continue \u201cthroughout the week or as long as necessary<\/strong>,\u201d US President Donald Trump said, adding he \u201cagreed to talk\u201d to the new Iranian leadership;<\/li>\n<li><strong>Oman has been dragged into the conflict <\/strong>after its Duqm port was hit by drones;<\/li>\n<li><strong>Israel <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israeli-military-says-projectiles-were-fired-lebanon-2026-03-01\/\" style=\"\" rel=\"noopener\">targeted<\/a><\/strong><strong> Beirut earlier today<\/strong> after Hezbollah fired several missiles at Israel on Sunday.<\/li>\n<li><strong>A number of commercial vessels<\/strong> around the Strait of Hormuz were attacked yesterday, prompting ships and tankers to stay away for the time being;<\/li>\n<li><strong>The UK has <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cqj9g11p1ezo\" style=\"\" rel=\"noopener\">agreed<\/a><\/strong> to let the US use British military bases for \u201cdefensive\u201d strikes on Iranian missile sites;<\/li>\n<li><strong>European powers Germany, France, and the UK<\/strong> have <a target=\"_blank\" href=\"https:\/\/www.gov.uk\/government\/news\/joint-e3-leaders-statement-on-iran-1-march-2026\" style=\"\" rel=\"noopener\">affirmed<\/a> their readiness to target Iran\u2019s missile and drone launch capabilities;<\/li>\n<li><strong>Three US troops were killed and five wounded<\/strong>, reportedly in Kuwait, while a missile struck a bunker in Israel, killing at least nine and wounding dozens.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A pause on flights to affected areas looks set to continue with Iranian drone and missile <\/strong><strong>attacks targeting airports in the Gulf<\/strong>, including Kuwait International Airport, Dubai International Airport, and Abu Dhabi\u2019s Zayed International Airport, which killed a civilian. As of yesterday, over 3.4k flights have been canceled across seven Middle Eastern airports. Major regional carriers, including Emirates, Qatar Airways, and Etihad, have suspended all services, with many groundings expected to last until at least this afternoon.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Is Donald Trump looking for an off-ramp?<\/strong> The US president told <a target=\"_blank\" href=\"https:\/\/www.theatlantic.com\/national-security\/2026\/03\/trump-iran-attack-negotiations\/686201\/\" style=\"\" rel=\"noopener\">The Atlantic<\/a> \u201cthey want to talk, and I have agreed to talk,\u201d which some commentators interpreted as a pitch. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Domestic pressure in the US could play a factor in how long the war lasts<\/strong>, with a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/just-one-four-americans-support-us-strikes-iran-reutersipsos-poll-finds-2026-03-01\/\" style=\"\" rel=\"noopener\">Reuters \/ Ipsos poll<\/a> yesterday finding that just one in four Americans supports US strikes on Iran. With the US in a midterm year, Trump critics \u2014 and increasingly many of the MAGA faithful \u2014 see the Trump administration\u2019s military adventurism as a danger to the Republican Party\u2019s electoral chances alongside growing discontent with the White House\u2019s handling of the economy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yesterday evening\u2019s news of the first US casualties will likely add pressure to bring the <\/strong><strong>war to a close<\/strong>, with much of the Trump electoral coalition having backed the president on his repeated promises not to start any new wars overseas. <\/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\/catch-up-quick-whats-the-state-of-play-in-the-gulf\/\">CATCH UP QUICK: What\u2019s the state of play in the Gulf?<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east-politics\/\">Middle East politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war-watch\/\">war watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    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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\" 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   \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\">Privatization Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/02\/government-looks-to-transfer-egyptalum-heliopolis-housing-abu-qir-mopco-and-others-to-the-sovereign-fund-of-egypt\/\">\r\n                            EgyptAlum, Heliopolis Housing, Abu Qir, Mopco, and others poised to move to the Sovereign Fund of Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n      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href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2026\/03\/02\/government-looks-to-transfer-egyptalum-heliopolis-housing-abu-qir-mopco-and-others-to-the-sovereign-fund-of-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Government looks to transfer EgyptAlum, Heliopolis Housing, Abu Qir, Mopco, and others to the Sovereign Fund of Egypt&url=https:\/\/enterpriseam.com\/egypt\/2026\/03\/02\/government-looks-to-transfer-egyptalum-heliopolis-housing-abu-qir-mopco-and-others-to-the-sovereign-fund-of-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2026\/03\/02\/government-looks-to-transfer-egyptalum-heliopolis-housing-abu-qir-mopco-and-others-to-the-sovereign-fund-of-egypt\/&title=Government looks to transfer EgyptAlum, Heliopolis Housing, Abu Qir, Mopco, and others to the Sovereign Fund of Egypt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Government+looks+to+transfer+EgyptAlum%2C+Heliopolis+Housing%2C+Abu+Qir%2C+Mopco%2C+and+others+to+the+Sovereign+Fund+of+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F03%2F02%2Fgovernment-looks-to-transfer-egyptalum-heliopolis-housing-abu-qir-mopco-and-others-to-the-sovereign-fund-of-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/02\/government-looks-to-transfer-egyptalum-heliopolis-housing-abu-qir-mopco-and-others-to-the-sovereign-fund-of-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/948.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"683469\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/02\/government-looks-to-transfer-egyptalum-heliopolis-housing-abu-qir-mopco-and-others-to-the-sovereign-fund-of-egypt\/948-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/948.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"948.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/948.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/948.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-683468\" class=\"content-area-description single-story post-683468 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch-2 tag-enterpriseam tag-privatization-watch tag-sovereign-fund-of-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Th<\/strong><strong>e government is <\/strong><strong>weighing the transfer of seven state-owned companies<\/strong><strong> to<\/strong><strong> the Sovereign Fund of Egypt<\/strong>, a government official tells EnterpriseAM. The plans to transfer Egypt Aluminum, Misr Fertilizers Production Company (Mopco), Abu Qir Fertilizers, CID Pharma, Zahraa Maadi for Investment and Development, and Heliopolis Housing are part of a broader 40-company move following reviews of their financial statements.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This follows the committee overseeing public business sector companies suspending its <\/strong><strong>review<\/strong><strong> of acquisition offers<\/strong><strong> for seven firms<\/strong> submitted by Gulf investment funds, as well as Chinese and US investors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> By consolidating companies under the fund, the government expects to secure higher-value partnerships than it would if it were to sell individual stakes in each firm, according to our source. The mechanism also ensures that the state treasury receives 50% of the companies\u2019 annual revenues. This is projected to generate up to EGP 20 bn annually starting from the upcoming budget, creating an exceptional revenue stream to help reduce public debt and ease interest payment burdens.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Even as the restructuring gathers pace, development plans are set to continue.<\/strong> Public business sector companies have been instructed to press ahead with ongoing projects after the Public Enterprises Ministry\u2019s dissolution in the latest cabinet shuffle, the official added. These include the Delta Fertilizers development project, Sinai Manganese, and the stewardship of historic retail brands such as Omar Effendi and Sednaoui.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>The committee is expected to issue its first report by the end of the current fiscal year, outlining plans for shifting profitable companies between the stock exchange and the sovereign fund, transferring loss-making or low-income firms to relevant line ministries, merging selected firms, and creating new holding companies as part of the comprehensive overhaul of the public business sector.<\/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\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"683470\" 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=\"683470\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">A MESSAGE FROM VISA<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/02\/from-stablecoins-to-ai-shopping-top-2026-payments-trends-part-1\/\">\r\n                            From stablecoins to AI shopping: Top 2026 payments trends, part 1                        <\/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\/03\/02\/from-stablecoins-to-ai-shopping-top-2026-payments-trends-part-1\/\" 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\/03\/02\/from-stablecoins-to-ai-shopping-top-2026-payments-trends-part-1\/')\">\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\/03\/02\/from-stablecoins-to-ai-shopping-top-2026-payments-trends-part-1\/\">\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=From stablecoins to AI shopping: Top 2026 payments trends, part 1&url=https:\/\/enterpriseam.com\/egypt\/2026\/03\/02\/from-stablecoins-to-ai-shopping-top-2026-payments-trends-part-1\/\">\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\/03\/02\/from-stablecoins-to-ai-shopping-top-2026-payments-trends-part-1\/&title=From stablecoins to AI shopping: Top 2026 payments trends, part 1\">\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=From+stablecoins+to+AI+shopping%3A+Top+2026+payments+trends%2C+part+1+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F03%2F02%2Ffrom-stablecoins-to-ai-shopping-top-2026-payments-trends-part-1%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\/03\/02\/from-stablecoins-to-ai-shopping-top-2026-payments-trends-part-1\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/18.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"683471\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/02\/from-stablecoins-to-ai-shopping-top-2026-payments-trends-part-1\/18-jpg-37\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/18.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"18.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/18.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/18.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-683470\" class=\"content-area-description single-story post-683470 post type-post status-publish format-standard has-post-thumbnail hentry category-a-message-from-visa tag-a-message-from-visa tag-enterpriseam tag-visa 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>Global commerce is entering a new phase defined by autonomous and intelligent<\/strong><strong> payment systems. <\/strong>As we move into 2026, global commerce is shifting from manual transactions to autonomous, intelligent systems. Stablecoins have expanded beyond early-stage adoption, with blockchain increasingly used as infrastructure for cross-border payments, including more than USD 225 mn settled through Visa. This operational efficiency is powering the rise of agentic commerce, where consumers move from tapping to delegating certain transactions through AI assistants. To support this shift, Visa has introduced a trust framework focused on consumer control, payment security, and agent verification.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As payments become more advanced, identity protection is emerging as the central<\/strong><strong> security challenge. <\/strong>However, as commerce grows smarter, identity protection is becoming more complex. With fraudsters using generative AI to create increasingly sophisticated scams, security efforts are focusing on protecting identity, not just transactions. This is a critical pivot for the 97% of CEMEA consumers who report taking proactive steps to secure their payments, reinforcing the need for biometric and AI-driven defenses to maintain digital trust.<\/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\/a-message-from-visa\/\">A MESSAGE FROM VISA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/visa\/\">Visa<\/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=\"683472\" 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=\"683472\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/02\/interest-payments-jump-40-9-in-7m-fy-2025-26-outpacing-egypts-tax-revenue\/\">\r\n                            Interest bill soars 40.9%, outpacing tax gains                        <\/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\/03\/02\/interest-payments-jump-40-9-in-7m-fy-2025-26-outpacing-egypts-tax-revenue\/\" 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\/03\/02\/interest-payments-jump-40-9-in-7m-fy-2025-26-outpacing-egypts-tax-revenue\/')\">\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\/03\/02\/interest-payments-jump-40-9-in-7m-fy-2025-26-outpacing-egypts-tax-revenue\/\">\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=Interest payments jump 40.9% in 7M FY 2025-26, outpacing Egypt\u2019s tax revenue&url=https:\/\/enterpriseam.com\/egypt\/2026\/03\/02\/interest-payments-jump-40-9-in-7m-fy-2025-26-outpacing-egypts-tax-revenue\/\">\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\/03\/02\/interest-payments-jump-40-9-in-7m-fy-2025-26-outpacing-egypts-tax-revenue\/&title=Interest payments jump 40.9% in 7M FY 2025-26, outpacing Egypt\u2019s tax revenue\">\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=Interest+payments+jump+40.9%25+in+7M+FY+2025-26%2C+outpacing+Egypt%E2%80%99s+tax+revenue+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F03%2F02%2Finterest-payments-jump-40-9-in-7m-fy-2025-26-outpacing-egypts-tax-revenue%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\/03\/02\/interest-payments-jump-40-9-in-7m-fy-2025-26-outpacing-egypts-tax-revenue\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2493.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"683473\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/02\/interest-payments-jump-40-9-in-7m-fy-2025-26-outpacing-egypts-tax-revenue\/2493-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2493.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2493.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2493.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2493.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-683472\" class=\"content-area-description single-story post-683472 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-budget tag-budget-2026 tag-economy tag-enterpriseam tag-interest-rates tag-tax tag-taxation 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>Interest payments on public debt jumped <\/strong><strong>40.9%<\/strong><strong> y-o-y <\/strong><strong>in 7M<\/strong><strong> FY 2025-26, reaching EGP 1.5 tn<\/strong>, as high interest rates and a large debt stock continued to drive servicing costs, according to the Finance Ministry\u2019s latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/2\/1594.pdf\" style=\"\" rel=\"noopener\">financial performance report (pdf)<\/a>. The surge effectively absorbed the bulk of tax gains, as tax revenues rose 31.4% y-o-y to EGP 1.4 tn by the end of January.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Revenues showed solid momentum overall<\/strong>, with total public revenues climbing 41% y-o-y to EGP 1.8 tn during the same period, supported by a near doubling of non-tax revenues, which rose 95.9% to EGP 369.2 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yet spending pressures remained<\/strong>, with total public expenditure increasing 29.5% y-o-y to EGP 2.6 tn, reflecting heavier interest payments alongside higher outlays on wages, compensation, subsidies, and public investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Even so, headline fiscal metrics improved. <\/strong>The overall budget deficit held at 4.2% of GDP, narrowing by 0.2 percentage points y-o-y, while the primary surplus more than doubled, rising 119% y-o-y to EGP 601.9 bn, equivalent to 2.9% of GDP \u2014 underscoring the government\u2019s ability to generate a surplus before interest obligations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>Public revenues are projected to exceed EGP 3.5 tn in the next fiscal year, government sources told EnterpriseAM earlier this week. The government is targeting revenue gains equivalent to 1-2% of GDP, driven mainly by EGP 2.8 tn in tax and customs collections \u2014 up from the EGP 2.6 tn targeted in the current budget \u2014 as part of efforts to widen the tax base and create fiscal room for priority spending.<\/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\/budget\/\">budget<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/budget-2026\/\">Budget 2026<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/taxation\/\">TAXATION<\/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=\"683474 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=\"683474\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/02\/683474\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-683474\" class=\"content-area-description single-story post-683474 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=\"683475\" 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=\"683475\">\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\/03\/02\/egypt-builds-a-state-backed-shipping-bridge-to-east-africa\/\">\r\n                            A new maritime corridor aims to fix Egypt\u2019s broken trade routes with Africa                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn 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      \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/02\/egypt-builds-a-state-backed-shipping-bridge-to-east-africa\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/63.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"683476\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/02\/egypt-builds-a-state-backed-shipping-bridge-to-east-africa\/63-jpg-30\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/63.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"63.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/63.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/63.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-683475\" class=\"content-area-description single-story post-683475 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-ebrd tag-enterpriseam tag-microfinance tag-shipping tag-smes tag-tamweely 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\">Public-private partnership launches new East African shipping route <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>State-owned Canal Shipping Agencies and Trust for Trade and <\/strong><strong>Transport<\/strong><strong> will operate special-purpose commercial vessels between Egypt and East African countries<\/strong>, according to a Transport Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MinistryTransportation\/posts\/pfbid033rjrrEvQhyHg5WkNBeaF57potXLvYJawhGheEi4qdEdGn2pEBSpR19Z7UW74gAbEl\" style=\"\" rel=\"noopener\">statement<\/a>. The JV will provide logistics, agency services, and customs clearance for livestock and goods, and will initially operate through Safaga Port, with plans to expand across the Red Sea network.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> This is an attempt to de-risk the high costs and logistical friction that have historically capped Egypt\u2019s trade with the continent. By deploying dedicated vessels and bundling regulatory clearances under a single state-backed operator, the venture aims to resolve chronic capacity bottlenecks and port delays that have long deterred private-sector importers. Its success would stabilize meat supply chains and lower the unit economics for Egyptian exporters looking to replace expensive transhipment routes with a direct Red Sea corridor.<\/p><p class=\"tag-border-left\"> GB Auto to roll out new locally-assembled Hyundai model<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GB Auto<\/strong><strong> is making room for a new Hyundai model by halting local assembly <\/strong><strong>of the Accent RB<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2026\/03\/01\/1952521\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing what it says is a source at the company. The company has reportedly earmarked USD 6 mn to assemble the new model in its Sixth of October plant by 2H 2026, with an initial capacity of 5k cars per year \u2014 set to rise to 15k.<\/p><p class=\"tag-border-left\">Tamweely gets an EGP 250 mn boost for youth lending <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Microfinance firm Tamweely secured an EGP 250 mn <\/strong><strong>local-currency facility from shareholder European Bank for Reconstruction and Development (EBRD)<\/strong>, the lender said in a <a target=\"_blank\" href=\"https:\/\/www.ebrd.com\/home\/work-with-us\/projects\/psd\/56589.html?utm_source=Email#\" style=\"\" rel=\"noopener\">project summary<\/a>. The facility, part of the Egypt Youth in Business program, is designed to provide financing to youth-led MSMEs, particularly in remote areas \u2014 a segment that\u2019s been hard-hit by the high-interest-rate environment.<\/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\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/microfinance\/\">microfinance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                       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class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/02\/wall-street-goes-haven-first-as-middle-east-tensions-rattle-risk-appetite\/\">\r\n                            Haven first                        <\/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 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data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/40.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-683477\" class=\"content-area-description single-story post-683477 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>As tensions flare across the Middle East, investors are <\/strong><strong>rotating into safe-haven assets like Treasuries, gold, and the CHF<\/strong>, ditching the reflex to buy the dip in equities, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-03-01\/wall-street-turns-to-haven-first-strategies-amid-iran-attacks\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The playbook is explicit: <\/strong>\u201cHaven first, ask questions later,\u201d said Natixis\u2019 John Briggs, pointing to a larger-than-expected escalation. Meanwhile, Barclays strategists cautioned against rushing to buy equities on weakness, arguing the risk-reward \u201cdoesn\u2019t seem compelling\u201d yet.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emerging markets could fall out of favor<\/strong>, after briefly being a major wager for the world\u2019s largest asset managers, who wished to rotate away from the USD and developed-market assets as policy uncertainty clouds the US outlook. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some expect Treasuries to rally and yields to fall on safe-haven demand.<\/strong> However, a sustained oil spike could complicate the Fed\u2019s path by stoking inflation and prompting a more cautious stance on rate cuts.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil is the swing factor: <\/strong>Traders are watching energy markets \u2014 especially the Strait of Hormuz \u2014 as strategists warn that if shipping is disrupted, \u201call [wagers] are off\u201d for risk assets. Even the threat of prolonged turmoil is enough to push money managers toward safety.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asia may feel the shock first: <\/strong>Saxo Bank\u2019s Charu Chanana expects a risk-off open, with pressure on airlines, cyclicals, and trade-exposed sectors, while energy, mining, and defense could prove more resilient, according to an emailed note seen by EnterpriseAM. Higher crude prices, she notes, reflect the cost of moving barrels just as much as fuel prices themselves, with war-risk premia and ins. repricing keeping prices sticky.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gold is another clean hedge in the crossfire:<\/strong> It can act as both geopolitical ins. and an inflation buffer \u2014 and, as Saxo notes, it can rise alongside a firm USD in classic risk-off fashion. Chanana also pointed to defense and other security-linked industries as essential classes, along with gold, to hedge against ever-increasing geopolitical risks.<\/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\">Asia-Pacific markets are starting off the week in the red as investors ditch their stocks for safe-haven assets as the escalating regional war shows little signs of calming down. The Hang Seng is looking at the steepest losses in early trading this morning. Over on Wall Street, it\u2019s more or less the same, with futures down. Gold futures, meanwhile, are up.<\/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\">47,984<\/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\">-2.5% (YTD: +14.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 48.69<\/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\">Sell 48.82<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB<\/strong><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 48.70<\/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 48.80<\/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\">19.00% 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\">20.00% 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\">10,476<\/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: -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>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,454<\/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\">-1.3% (YTD: +4.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">6,504<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.8% (YTD: +7.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">6,879<\/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: +0.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">10,911<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +9.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro 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\">6,138<\/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: +6.0%)<\/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 72.87<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/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 2.86<\/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%<\/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 5,248<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 65,760<\/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\">-2.1% (YTD: -25.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 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\">1,031<\/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: +3.8%)<\/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>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\">153.89<\/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: +1.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">19.86<\/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\">+6.6% (YTD: +32.8%)<\/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 2.5% at <\/strong><strong>yesterday\u2019s<\/strong><strong> close<\/strong> on turnover of EGP 5.3 bn (16.3% below the 90-day average). Local investors were the sole net buyers. The index is up 14.7% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Heliopolis Housing (+1.5%). <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> E-finance (-5.4%), Kima (-5.1%), and Ibnsina Pharma (-4.9%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"683479\">\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\/faheem-the-egyptian-startup-bridging-the-gap-between-ai-and-education\/\">\r\n                            Faheem: The Egyptian startup bridging the gap between AI and education<\/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\/faheem-the-egyptian-startup-bridging-the-gap-between-ai-and-education\/\" 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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To better understand how the startup operates, we sat down with CTO Mohamed Ghareeb (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/mohamedghareeb\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>). <strong>Edited excerpts from our conversation:<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM: What is Faheem\u2019s elevator pitch?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mohamed Ghareeb: Faheem is an AI tutor\/companion that helps students study and <\/strong><strong>revise <\/strong><strong>using text, audio, and visual <\/strong><strong>form<\/strong><strong>ats.<\/strong> It uses inquiry-based learning, an approach that adapts to the student based on their level of advancement. Using the student\u2019s responses to certain questions, Faheem assesses the degree to which the student has a grasp of any topic.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM: Why would a student use Faheem instead of existing large language <\/strong><strong>models (LLMs), <\/strong><strong>like ChatGPT?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MG: Faheem\u2019s engine and knowledge base \u2014 which we spent years crafting \u2014 is <\/strong><strong>basically our <\/strong><strong>secret recipe<\/strong>; it is what distinguishes our offering from others. Faheem is curriculum-aligned, and its knowledge base is built using the curriculum. For an Egyptian student enrolled in a national school, Faheem will only use content from government-issued textbooks. Faheem uses retrieval-augmented generation (RAG) and knowledge graphs to retrieve data from the curriculum. By contrast, programs like ChatGPT respond to inquiries by resorting to the internet, whose data it is trained on.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Although ChatGPT might understand a certain lesson<\/strong>, it will answer an inquiry with information that is irrelevant to the student. Then there\u2019s also the issue of hallucinations, a term used to describe nonsensical responses that AI programs produce based on inaccurate training data. LLMs that use the internet as their database are very likely to hallucinate. Faheem\u2019s hallucination rate is dramatically lower than that of general-purpose LLMs because every response is grounded in verified, curriculum-aligned data. Our architecture is designed to virtually eliminate hallucinations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM:<\/strong> <strong>Are AI models more suitable than human-to-human models in the edtech <\/strong><strong>sector? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MG: Young people today have really short study times \u2014 they don\u2019t sit down to study for <\/strong><strong>long <\/strong><strong>periods.<\/strong> They want something fast that gives them information and doesn\u2019t bore them. Of course, the presence of the teacher will remain very important. But while Faheem and conventional teaching can adopt similar methods, the application can be used for impromptu reviews, last-minute exams, and discussions. Younger folk today want to receive information in a different way. They are seeking a faster pace \u2014 that\u2019s why Faheem exists.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM: Can local edtech players integrate curricula into their software and <\/strong><strong>pivot to a <\/strong><strong>similar offering like Faheem\u2019s?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MG: The real barrier to entry is the technical depth and consolidated expertise required <\/strong><strong>to build <\/strong><strong>this. <\/strong>In theory, anyone can take a textbook and use RAG to feed it into an LLM. By converting that book into numerical embeddings, a developer could create a tool that answers basic questions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>However, that basic approach <\/strong><strong>loses<\/strong><strong> two critical elements. <\/strong>First, it fails to account for the student\u2019s specific grade and academic level. Second, it loses the context of the inquiry. Without context, an AI model merely retrieves the most similar-sounding statements from the textbook rather than actually \u201cunderstanding\u201d the student\u2019s needs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Faheem, by contrast, identifies both the student\u2019s level and the context of the question <\/strong><strong>before responding.<\/strong> It determines whether the student is asking a question while taking an exam, doing homework, or trying to understand the difference between two concepts. We achieved this by building a knowledge base that consists of described relationships between data points, rather than just simple embeddings. This allows the LLM to provide verified, curriculum-aligned answers tailored to the student\u2019s specific situation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM: Is Faheem tied to a specific AI model, and how do you handle potential <\/strong><strong>service <\/strong><strong>disruptions from providers like OpenAI or Google?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MG: Faheem is LLM-agnostic, meaning we can work with GPT, Gemini, or even smaller <\/strong><strong>l<\/strong><strong>anguage models.<\/strong> The secret recipe is our internal knowledge base. We use LLMs primarily to humanize answers retrieved from our verified data, rather than relying on the LLM to provide the core information. Because the know-how is in the knowledge base itself, we can adapt quickly and switch between models if a provider experiences a disruption.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM: Is it feasible to run these models on your local servers, and what are <\/strong><strong>the cost <\/strong><strong>implications of doing so?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MG: It is feasible, and we have already experimented with AI sovereignty. <\/strong>At the last ICT conference, we successfully ran Faheem on a local machine, where it responded using a local LLM. The choice between local servers and cloud APIs depends heavily on utilization.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM: What\u2019s next for Faheem?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MG: There are two important features that will be released soon.<\/strong> The first is Scan and Solve, which will allow students to scan anything from the curriculum \u2014 and I mean anything: a question, an article, etc. \u2014 for Faheem to break it down for them.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The other feature is Smartboard<\/strong>, which is a highly interactive service that uses voice, visuals, and text to explain a certain topic. It will simulate a real teacher\u2019s explanation, using both colloquial Arabic and English, and allow the student to interrupt with questions or requests for further elaboration at any point. Apart from these two features, we are working on integrating the IG curriculum into the app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM: How can Faheem assist government policymakers in understanding the <\/strong><strong>educational <\/strong><strong>landscape?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MG: It helps them significantly. We produce reports showing how a student\u2019s <\/strong><strong>performance has <\/strong><strong>adapted or improved since they began using Faheem<\/strong>, including their specific answers and grades. This data helps the Education Ministry by providing analytics and insights that can help guide investment and policy decisions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM: Does the AI operate entirely independently, or is there a human element <\/strong><strong>involved in <\/strong><strong>the quality control of educational content?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MG: Humans play a major role. To build our knowledge base, we enlisted real teachers to <\/strong><strong>perform validation and auditing. <\/strong>This ensures that the content the AI provides is verified and strictly aligned with the curriculum.<\/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\/startups\/\">startups<\/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=\"683481\" 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\/03\/02\/683481\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-683481\" class=\"content-area-description single-story post-683481 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;\">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;\">3 March (Tuesday): S&P Global to release PMI figures of February.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10 March (Tuesday): Capmas expected to release inflation data for February<\/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 (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 of 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: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 of 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: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 the 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 of 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: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 of 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: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 of 2026. <\/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 of 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;\">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 of 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;\">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-Nasr 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-Sixth 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 Recep 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>Flammable markets | Debt interest outpaces tax revenues | Fixing broken trade routes with Africa<\/p>\n","protected":false},"featured_media":683459,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-683458","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"007bdb37-e816-48e1-9ca4-f899dae62d63","teaser":"Flammable markets | Debt interest outpaces tax revenues | Fixing broken trade routes with Africa","photo_url":"https:\/\/ent.news\/2026\/3\/67.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>Economic impacts of Iran war 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