{"id":683978,"date":"2026-03-03T00:00:00","date_gmt":"2026-03-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=683978"},"modified":"2026-03-03T09:01:55","modified_gmt":"2026-03-03T09:01:55","slug":"war-pushes-usd-closer-to-the-egp-50-mark","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/war-pushes-usd-closer-to-the-egp-50-mark\/","title":{"rendered":"War pushes USD closer to the EGP 50 mark"},"content":{"rendered":"<section id=\"683980\" 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=\"683980\">\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\/03\/new-drilling-incentives-aim-to-bridge-the-output-gap\/\">\r\n                            New drilling incentives aim to bridge the output gap                        <\/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\/03\/new-drilling-incentives-aim-to-bridge-the-output-gap\/\" 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 <a target=\"_blank\" href=\"https:\/\/x.com\/AsstSecStateCA\/status\/2028588420403241021?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2028588420403241021%7Ctwgr%5Ed38476165de57b4177b27eacd6eb21c793ee1129%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Farticles%2F2026-03-02%2Fstate-department-tells-americans-to-leave-middle-east-for-safety\" style=\"\" rel=\"noopener\">post on the X account<\/a> of Assistant Secretary for Consular Affairs Mora Namdar is urging American citizens to pull out now from more than a dozen countries in MENA, including Egypt, the UAE, Saudi Arabia, Jordan, Qatar, and Oman, citing \u201cserious safety risks.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So, what\u2019s the latest on the war on this cold March morning?<\/strong> Well, nothing\u2019s up in Omm El Donia, for starters. The same, unfortunately, cannot be said of the Gulf, where <strong>Qatar has turned off LNG production<\/strong> (a risk to which policymakers in Egypt will be paying careful attention) and two Iranian drones <strong>targeted Saudi Arabia\u2019s Ras Tanura refinery<\/strong>, which <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-03-02\/saudi-arabia-s-ras-tanura-refinery-shuts-down-after-drone-attack\" style=\"\" rel=\"noopener\">shut<\/a><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-03-02\/saudi-arabia-s-ras-tanura-refinery-shuts-down-after-drone-attack\" style=\"\" rel=\"noopener\">down<\/a> after debris from the drones\u2019 interception fell near the facility, causing a fire. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US embassies in Saudi Arabia and Kuwait have been hit by Iranian drones<\/strong>, but no casualties have been reported. Markets in Asia opened lower on the news. Iran, meanwhile, \u201cofficially\u201d said it has closed the Strait of Hormuz \u2014 and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-03-02\/rubio-says-us-military-s-hardest-hits-on-iran-are-yet-to-come\" style=\"\" rel=\"noopener\">the United States is warning that the \u201chardest hits are yet to come,\u201d<\/a> promising that the \u201cnext phase will be even more punishing on Iran than it is right now.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/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>\n<p class=\"tag-border-left\">Watch this space<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>ENERGY \u2014 The Oil Ministry will adopt a new fiscal regime for <\/strong><strong>upstream partners<\/strong>, moving toward incentive-based contracts to encourage the use of expensive unconventional drilling technologies, according to a ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0QkDBYauyVaqFtfGQx5MBsYKDA3yNWx8Uyv1Qiv1UMK9F1Ngkf4kaU3sZT7T1coUzl\" style=\"\" rel=\"noopener\">statement<\/a>, citing Oil Minister Karim Badawi in a meeting with industry players. The next five years will focus on scaling oil and gas output through horizontal drilling and hydraulic fracturing \u2014 methods common in US shale, but underutilized in Egypt\u2019s mature basins.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> For years, the technical limits of conventional vertical wells have led to declines in Egypt\u2019s aging reservoirs. However, the capex required for fracking and horizontal rigs didn\u2019t make sense under old cost-recovery models. By introducing incentives \u2014 likely better profitsharing or revised gas prices \u2014 the ministry is trying to make Egypt\u2019s difficult barrels economically viable again for operators.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>INVESTMENT WATCH \u2014 The Madbouly government <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1495566155947133?ref=embed_post\" style=\"\" rel=\"noopener\">unveiled<\/a><\/strong> <strong> a nine-step plan to <\/strong><strong>boost private investment<\/strong>, which includes supporting startups, proactively targeting high-value-added productive investments, maximizing the role of the Sovereign Fund of Egypt, boosting the capital market through legislative amendments and more state IPO offerings, and launching specialized financial tools to support priority sectors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters: <\/strong>The state is looking to have private investments make up 70% of total investments by 2030. <\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong>, the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\" rel=\"noopener\">MENA-India<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\" rel=\"noopener\">Corridor<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Happening today<\/p>\n<p style=\"padding-top:0pt;margin:0;padding-left:0;padding-bottom:12pt;line-height:1.15;orphans:2;widows:2;text-align:left;padding-right:0\"><a id=\"wwtt2\"><\/a> <strong>The private sector is eagerly awaiting S&P Global\u2019s Purchasing Managers\u2019 Index report <\/strong><strong>for February, due out later this morning<\/strong>, amid hopes that non-oil activity will move back up into the green after dipping to 49.8 in January. The country\u2019s headline rate sits just below the all-important 50.0 mark is the threshold separating contraction from growth \u2014 a barrier the country has only passed four times since November 2020.<\/p>\n<p class=\"tag-border-left\">Data point<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>USD 29.5 bn \u2014 that\u2019s Egypt\u2019s net foreign assets at the end of <\/strong><strong>January<\/strong>, rising USD 4.0 bn in a single month to record an all-time high, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/3\/126.pdf\" style=\"\" rel=\"noopener\">data (pdf)<\/a> from the Central Bank of Egypt. January\u2019s increase was driven by foreign liabilities declining at both the central bank and commercial banks, in addition to foreign assets growing by USD 1.7 bn at commercial banks and remaining broadly stable at the CBE.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><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>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PSA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s set to be a sunny but cool day in Cairo today<\/strong>, with a high of 21\u00b0C and a low of 10\u00b0C, according to our favorite weather app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Scattered clouds are forecast for Alexandria<\/strong>, with a high of 20\u00b0C and a low of 11\u00b0C.<\/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 big story abroad <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The world\u2019s front pages are all about the <\/strong><strong>widening regional war <\/strong>for the third day running. Two updates are topping headlines this morning:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- US President Donald Trump vowed to do \u201cwhatever it takes\u201d in Iran<\/strong>, saying that US-Israeli attacks on the country could go on for over a month. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Iran officially closed the Strait of Hormuz<\/strong>, threatening to fire at any ship trying to pass through \u2014 effectively halting 20% of the world\u2019s oil supply.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE HOMETOWN ANGLE- <\/strong>We dive into what this all means for us at home in the news well, below. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">t<img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/239.jpg?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> EnterpriseAM\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices, and how you can make your business greener, whatever the sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We take a look at how Egypt\u2019s construction boom is creating a waste problem \u2014 but also a window.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-ministry\/\">Oil Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"683982 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=\"683982\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/03\/683982\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-683982\" class=\"content-area-description single-story post-683982 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><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\u2019s next for Somabay.<\/span><\/p>\n<p><span>Hall 6.2B | Stand 317 \u2014 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=\"683983\" 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=\"683983\">\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\/03\/market-flexibility-faces-its-first-post-float-test-as-the-usd-nears-egp-50\/\">\r\n                            War tests EGP\u2019s post-float strength                        <\/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\/03\/market-flexibility-faces-its-first-post-float-test-as-the-usd-nears-egp-50\/\" 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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Foreign investors accelerated their exit from local debt while importers rushed to secure letters of credit for oil, wheat, and essential food supplies. The squeeze briefly rattled sentiment \u2014 until the market staged an unexpected pivot.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the end of the day, foreign appetite had shifted toward longer-dated debt.<\/strong> A treasury bond auction targeting EGP 28 bn drew a striking EGP 117 bn in bids, signaling that while short-term money was heading to the door, longer-term investors were positioning for yield. At the <a target=\"_blank\" href=\"https:\/\/www.nbe.com.eg\/NBE\/E\/#\/EN\/ExchangeRatesAndCurrencyConverter\" style=\"\" rel=\"noopener\">National Bank of Egypt<\/a>, the greenback was changing hands between EGP 49.17 and EGP 49.27. At private lenders, the selling rate climbed as high as EGP 49.85.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Interbank activity surged past USD 730 mn<\/strong>, up from USD 600 mn on Sunday, as banks met both import demand and investor exits. Secondary market outflows slowed to USD 297 mn. \u201cThe market is being led by the wisdom of \u2018buy during war and sell during peace\u2019,\u201d a senior banker told EnterpriseAM, pointing to the rebound in equity and debt markets by the third day of the conflict.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Still, few believe the 50-mark will hold indefinitely if tensions escalate.<\/strong> Another banker said the exchange rate could soon \u201ctest levels beyond EGP 50\u201d if the war in the Gulf continues. Outflows have already climbed from USD 600-700 mn mid-last week to around USD 1.3 bn, possibly increasing to USD 1.6 bn. EG Bank board member Mohamed Abdel Aal estimates that in this scenario, the exchange rate could move toward the EGP 50-51 range. In severe escalation, daily outflows could approach USD 2 bn, pushing the rate toward EGP 52-53.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Others see a wider trading band: <\/strong>Sahar El Damaty, an industry veteran and former deputy chair of Banque Misr, suggests the rate could fluctuate between EGP 47-53 depending on the conflict\u2019s trajectory. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- This is healthy \u2014 it\u2019s the system working the way it is supposed to. <\/strong>The exchange rate is a shock absorber that helps the economy cope with external shocks. We think policymakers including the Central Bank of Egypt have learned their lesson and aren\u2019t going to release reserves or put quiet pressure on the banks. It\u2019s when we refuse to let the FX rate float freely that imbalances build and we wake up one morning to find there\u2019s a black market for hard currency.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The parlor game right now: <\/strong>Speculating about if, when, and how the Central Bank of Egypt might respond as the EGP faces its most significant test since the March 2024 float. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What to watch for: <\/strong>The business community will want to see the central bank (a) delay a response for as long as possible, letting market dynamics work themselves out, and (b) for any intervention to be 100% in the open. Instead, the smart policy move is to use fiscal policy \u2014 including direct support to industries or low-income citizens impacted by what\u2019s going on in the Gulf \u2014 to address the war\u2019s impact on Egypt. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Banking expert Hani Abu El Fotoh described the<\/strong><strong> CBE\u2019s role as a \u201cseatbelt\u201d<\/strong> \u2014 present, but only deployed in moments of acute danger. Should the EGP come under sharp pressure or record daily losses of 2-3%, the CBE could step in to calm markets and prevent panic, not to defend a specific rate, Abu El Fotoh argued.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emergency tools are ready, but not yet in motion.<\/strong> Sources tell us the CBE is monitoring the developments closely and could convene an extraordinary Monetary Policy Committee meeting if needed. If circumstances warrant it, a 100-200 bps rate hike could bolster real interest rates and lure back hot money, partially reversing the 825 bps in cumulative cuts delivered in recent months. The catch? It would send borrowing costs for the state back up. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Holding the line: <\/strong>Both El Damaty and Abdel Aal still think the April 2026 interest rate meeting will see the CBE leave rates on hold unless the inflationary impact from supply disruptions becomes clearer.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Flexibility \u2014 not defense \u2014 is the anchor. <\/strong>Abdel Aal argued that allowing the exchange rate to move helps absorb temporary shocks and encourages foreign inflows to return, while preventing the re-emergence of a parallel market for FX, which he stressed the CBE \u201cwill not tolerate at all.\u201d Another banker we spoke with argued that a flexible currency offers investors \u201cgreater upside potential at current entry levels\u201d than a rigid regime would. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That logic appeared to play out in Monday\u2019s bond auction. <\/strong>While foreign investors reduced exposure to short-term treasury bills, they flooded into two-year notes, submitting EGP 97 bn in bids for an EGP 8 bn target. A government official described the shift as a vote of confidence in Egypt\u2019s medium-term outlook once geopolitical tensions subside, with investors locking in high yields between 26-28%. For the second day running, the Finance Ministry declined to accept higher-yield offers, holding firm at its current rates.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Analysts argue this is not a replay of the 2022 crisis<\/strong> \u2014 our structural position is a hell of a lot stronger than it was during the Russia-Ukraine shock. Since early February, we\u2019ve recorded USD 1.9 bn in net foreign outflows from the secondary market for T-bills, alongside a 4.4% depreciation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A smooth exit is a good thing: <\/strong>HC Securities\u2019 Nemat Choucri points out that the orderly nature of the exits will reinforce investor confidence in the long run, proving that funds can leave smoothly even in volatile conditions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign portfolio investments now stand at USD 45<\/strong><strong> bn and are managed in separate accounts <\/strong>to avoid systemic disruptions, Abdel Aal noted. Egypt now holds USD 52.6 bn in foreign reserves, while net foreign assets show a surplus of USD 29.5 bn \u2014 a liquidity cushion designed precisely for moments like this.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The macro picture remains sensitive. <\/strong>Rising geopolitical risks and the effective closure of the Strait of Hormuz have pushed oil prices toward USD 80 \/ bbl, El Damaty noted. Suez Canal traffic has improved but remains below its USD 10 bn annual revenue target, and regional aviation is pressuring tourism \u2014 the sector El Damaty identifies as the most vulnerable to the current crisis. Liquidity is a means of maneuver, not an endless fortress, Abu El Fotoh warns. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bottom line: <\/strong>While Egypt has the tools to absorb short-term shocks, prolonged tensions may force a choice between delaying the monetary easing cycle or accepting higher inflationary risks. What matters is that any policy response is made in the open, not through quietly relayed verbal instructions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/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\" 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href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/03\/a-nasty-mix-of-factors-is-putting-pressure-on-the-price-of-energy-and-thats-bad-for-egypts-budget\/\">\r\n                            Between the Hormuz Strait and a hard place                        <\/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\/03\/a-nasty-mix-of-factors-is-putting-pressure-on-the-price-of-energy-and-thats-bad-for-egypts-budget\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/03\/a-nasty-mix-of-factors-is-putting-pressure-on-the-price-of-energy-and-thats-bad-for-egypts-budget\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/144.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"683987\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/03\/a-nasty-mix-of-factors-is-putting-pressure-on-the-price-of-energy-and-thats-bad-for-egypts-budget\/144-jpg-29\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/144.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"144.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/144.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/144.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-683986\" class=\"content-area-description single-story post-683986 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-energy tag-enterpriseam tag-logistics tag-maritime tag-middle-east-politics tag-oil-and-gas tag-suez-canal 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>Oil touching the psychologically important USD 100 per-barrel mark is <\/strong><strong>looking more possible with each passing day<\/strong>, with JPMorgan Chase & Co analysts warning in a note that Gulf producers only have 25 days before they run out of storage space. Wood Mackenzie <a target=\"_blank\" href=\"https:\/\/www.woodmac.com\/press-releases\/oil-prices-could-hit-$100bbl-as-strait-of-hormuz-traffic-halts\/\" style=\"\" rel=\"noopener\">said in a note<\/a> that prices could exceed the USD 100 mark \u201cif tanker flows are not quickly restored,\u201d while Bernstein sees Brent crude reaching USD 150 in the event of a prolonged conflict.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adding urgency to the warning was a drone strike on Aramco\u2019s Ras Tanura facilities, which <\/strong><strong>halted <\/strong><strong>operations at Saudi Arabia\u2019s largest oil refinery <\/strong>in what appears to be the first direct strike on oil infrastructure in this round of hostilities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The situation \u201chas already moved from geopolitical noise to actual impact<\/strong>,\u201d Rabobank Energy Strategist Florence Schmit tells EnterpriseAM, as energy infrastructure across the region has been targeted and Israel has already curtailed gas production as a precaution.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>With the Hormuz Strait effectively closed, there are few other options to get output to <\/strong><strong>global markets<\/strong>, with the Saudi East-West pipeline moving 5 mn bbl \/ d \u2014 equivalent to just a quarter of what usually passes through the strait.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The cost of LNG and our reliance on it also moved up policymakers\u2019 worry list<\/strong> after QatarEnergy <a target=\"_blank\" href=\"https:\/\/x.com\/qatarenergy\/status\/2028446181743894651\" style=\"\" rel=\"noopener\">announced<\/a> yesterday it has stopped producing LNG. The decision came after an Iranian drone hit Ras Laffan, the world\u2019s largest export facility, which produces some 20% of global supply.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As disruptions continue, the mismatch between demand and supply could send <\/strong><strong>prices upward. <\/strong>\u201cIt\u2019s a matter of the duration of this crisis,\u201d Wideangle LNG Consulting Director Jean-Christian Heintz tells us. \u201cAs a rule of thumb, if we are talking about one week of shortage, you see that this already translates into 2% of annual LNG production.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>LNG flow disruptions are expected to \u201creignite competition between Asia and Europe for <\/strong><strong>available cargoes<\/strong>,\u201d according to Wood Mackenzie Gas and LNG Research Vice President Massimo Di Odoardo. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel is making things worse for us: <\/strong>Its decision to cut off gas supplies to Egypt will pile on pressure at the same time as the <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/05\/lng-imports-to-dip-this-month-thanks-to-strong-inventory-improving-domestic-production\/?repeat=w3tc\" style=\"\" rel=\"noopener\">24 LNG shipments from QatarEnergy we have scheduled for the summer<\/a> are uncertain. That could push the Madbouly government to try to secure additional LNG shipments \u2014 likely at much higher prices than it had originally penciled in.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shipping rates for all types of goods and the end-cost for consumers are also set to<\/strong><strong> rise<\/strong>, with shipping lines facing higher fuel costs \u2014 which usually account for 40% of total costs \u2014 and war-risk premiums doubling to 0.5% coming on top of a 15-20 days longer transit around the Cape of Good Hope while lines avoid the Suez Canal. There are also limited overland corridors able to handle anywhere near the amount of TEU capacity and diverted traffic.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: <\/strong>The disruption is an immediate and unbudgeted inflationary shock. The doubling of war-risk premiums for shipping and the extension of transit times mean that the landed cost of everything from grain to industrial components is set to spike. For the Madbouly government, the crisis creates a pincer move: we\u2019re bidding on the expensive global spot market for LNG to keep the lights on, even as Suez Canal revenues face a sustained hit from diverted traffic.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>To keep energy supplies stable, the Oil Ministry is working to import three mazut <\/strong><strong>shipments to make up for a shortfall in Israeli gas<\/strong>, a government official tells EnterpriseAM. Plans are also underway to diversify power generation by relying on both fuel oil and natural gas to keep stations running, our source added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No gas i<\/strong><strong>s leaving Idku: <\/strong>The state has pressed pause on LNG shipments flowing out of the Idku liquefaction facility, <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/economics\/121705\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B9%D9%84%D9%82-%D8%AA%D8%B5%D8%AF%D9%8A%D8%B1-%D8%A7%D9%84%D8%BA%D8%A7%D8%B2-%D9%85%D8%A4%D9%82%D8%AA%D8%A7-%D9%85%D9%86-%D8%A5%D8%AF%D9%83%D9%88-%D9%84%D8%AA%D8%A3%D9%85%D9%8A%D9%86-%D8%A7%D9%84%D8%B3%D9%88%D9%82-%D8%A7%D9%84%D9%85%D8%AD%D9%84%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing what it says is an unnamed government official. Shell and Petronas usually receive some 350 mmcf\/d of LNG for export from the Idku facility, the source said, adding that the last shipment out of Idku was at the end of February.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A precautionary move:<\/strong> A government crisis committee has suspended natural gas export approvals for Shell, Petronas, and Eni through April, prioritizing domestic energy security, a senior government official told us, noting that further steps to safeguard foreign exchange markets and tighten regulatory oversight are also expected.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/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\/suez-canal\/\">Suez Canal<\/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=\"683988\" 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=\"683988\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Tourism<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/03\/investors-dump-regional-travel-stocks-as-images-of-burning-hotels-hit-the-front-pages\/\">\r\n                            Egypt\u2019s travel industry has so far been spared mass cancellations                        <\/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\/03\/investors-dump-regional-travel-stocks-as-images-of-burning-hotels-hit-the-front-pages\/\" 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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We have group holidays. They\u2019re still coming in,\u201d we were told.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tourism Minister Sherif Fathy said much the same<\/strong>, noting that \u201cregional developments and current geopolitical events in the region have not affected the incoming tourism [flows],\u201d according to a ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/tourismandantiq\/posts\/pfbid02W2DWhEnKMMjvnYZ7kYm8Pmbp8muoxtPAeYXDpzdYrGtB3oc1AYnUZgK4Uy6J1z9Wl\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The outlook:<\/strong> When airspace reopens, visitors from the Gulf should come back, with traffic expected to pick up \u201cas much as the airplanes can [handle],\u201d we were told.<\/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\">It\u2019s a very different situation in the Gulf<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The situation for hotels elsewhere in the region is very different<\/strong>, with \u201cEgypt being the least affected,\u201d we were told. The impact of videos of hotels being struck by drones and appearing in flames will take time to fade before tourism picks up again. \u201cIt will take time, but definitely not three years \u2014 I think a maximum of one year.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Industry participants <\/strong><strong>say it's too early to talk about whether strategic investors could shy away from the sector.<\/strong> \u201cIt\u2019s a bit too early to decide or to say if investments will be affected,\u201d our source in the hospitality sector tells us, explaining that much rests on how long the conflict will continue. But if the war ends soon, investment interest could tick up shortly after, as \u201cpeople and investors forget quickly.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Flights still grounded<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Most of the region\u2019s major air hubs remain shut on day four of the conflict<\/strong>, with thousands of flights canceled and hundreds of thousands of passengers stranded. Air traffic seems to be showing few signs of returning, with flight tracker <a target=\"_blank\" href=\"https:\/\/www.flightaware.com\/live\/cancelled\/today\" style=\"\" rel=\"noopener\">FlightAware<\/a> clocking in 2.8k cancellations on the day that war started, 3.3k the day after, and 3.1k yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A handful of flights are set to leave the UAE today <\/strong>as officials there look to repatriate travelers stranded by the outbreak of war. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The almost complete shutdown of air traffic in the Gulf had seen Riyadh emerge as an exit point<\/strong> for those stranded. High-net-worth individuals, senior executives, and their families <a target=\"_blank\" href=\"https:\/\/www.semafor.com\/article\/03\/01\/2026\/riyadh-becomes-transit-hub-for-worried-rich-fleeing-gulf\" style=\"\" rel=\"noopener\">were reportedly driving<\/a> from Dubai to Riyadh and boarding private planes for as much as USD 350k a trip to get out of the region or simply make business trips.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Less well-heeled travelers have traveled by land and sea as far as Egypt<\/strong> to fly out of the region, with the Arab Bridge Maritime Company \u2014 which operates ferries connecting Egypt and Jordan \u2014 increasing the number of scheduled trips to accommodate the uptick in demand, according to a Transport Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MinistryTransportation\/posts\/pfbid02i7nJPwZRMgmqnx5pfuk8b6ZBFmmywxoHj2adsRhJHwzD6Ubz7WiZLDN8Jue3p3iZl\" style=\"\" rel=\"noopener\">statement<\/a>.<\/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\">Travel stocks are taking a hit<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Traders have voted with their wallets<\/strong>, with the stocks of the region\u2019s few listed airlines closing deep in the red. Saudi Arabia\u2019s Flynas fell 6.4% on the Tadawul yesterday, while Jazeera Airways fell 5.5% on Boursa Kuwait. Attention will move today to budget airline Air Arabia as the Dubai Financial Market reopens following a <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/byzgpuk-uae-capital-market-authority-announces-closure-uae\" style=\"\" rel=\"noopener\">two-day pause in trading<\/a> in response to the start of the war.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shares of listed hotel groups and travel companies<\/strong> \u2014 almost all of which have a sizable footprint in the Gulf \u2014 <strong>seem to have taken a hit<\/strong>, too, as Western markets opened yesterday for their first day of trading since strikes on Iran began. Fairmont brand owner Accor saw its share price fall 8.9% on the Euronext Paris after images emerged of the French hospitality group\u2019s Fairmont The Palm hotel in Dubai in flames.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You didn\u2019t have to be a direct target of the attacks to feel the pinch<\/strong>, with German travel company Tui \u2014 which has a sizable presence in the region and especially in Egypt \u2014 seeing its shares fall 9.9% yesterday on the Deutsche B\u00f6rse. Shares of InterContinental Hotels Group fell 4.2% on the London Stock Exchange. Hilton Worldwide was down 2.2% and Marriott International was down 3.3%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hospitality\/\">hospitality<\/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\/tourism\/\">tourism<\/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=\"683990\" 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=\"683990\">\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\/03\/from-biometric-checkouts-to-cashs-exit-top-2026-payments-trends-part-2\/\">\r\n                            From biometric checkouts to cash\u2019s exit: top 2026 payments trends, part 2                        <\/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\/03\/from-biometric-checkouts-to-cashs-exit-top-2026-payments-trends-part-2\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2026\/03\/03\/from-biometric-checkouts-to-cashs-exit-top-2026-payments-trends-part-2\/')\">\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\/03\/from-biometric-checkouts-to-cashs-exit-top-2026-payments-trends-part-2\/\">\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 biometric checkouts to cash\u2019s exit: top 2026 payments trends, part 2&url=https:\/\/enterpriseam.com\/egypt\/2026\/03\/03\/from-biometric-checkouts-to-cashs-exit-top-2026-payments-trends-part-2\/\">\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\/03\/from-biometric-checkouts-to-cashs-exit-top-2026-payments-trends-part-2\/&title=From biometric checkouts to cash\u2019s exit: top 2026 payments trends, part 2\">\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+biometric+checkouts+to+cash%E2%80%99s+exit%3A+top+2026+payments+trends%2C+part+2+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F03%2F03%2Ffrom-biometric-checkouts-to-cashs-exit-top-2026-payments-trends-part-2%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/03\/from-biometric-checkouts-to-cashs-exit-top-2026-payments-trends-part-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/88.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"683991\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/03\/from-biometric-checkouts-to-cashs-exit-top-2026-payments-trends-part-2\/88-jpg-31\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/88.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"88.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/88.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/88.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-683990\" class=\"content-area-description single-story post-683990 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\">In 2026, manual guest checkout continues to decline as biometric authentication becomes more common. Typing 16-digit card numbers is increasingly replaced by fingerprint or facial verification. Guest checkout now represents 16% of Visa online transactions, down from nearly 50% in 2019.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cash usage continues to narrow as digital payments gain share. <\/strong>In 2026, half of global consumer payments are made with card credentials, marking a 50\/50 split between digital and cash.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Consumer expectations are accelerating the shift toward digital-first banking. <\/strong>More than 70% of consumers say they would switch banks for a better digital experience, increasing pressure on institutions to improve speed, usability, and service delivery.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/a-message-from-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=\"683992\" 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=\"683992\">\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\">Tech<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/03\/dubais-data-center-outage-exposes-vulnerable-region-ecosystem\/\">\r\n                            Data is the new oil \u2014 and it\u2019s under fire too                        <\/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\/03\/dubais-data-center-outage-exposes-vulnerable-region-ecosystem\/\" 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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We were also impacted: <a target=\"_blank\" href=\"http:\/\/enterpriseam.com\" style=\"\" rel=\"noopener\">EnterpriseAM.com<\/a> is one of the many services hosted on AWS out of the UAE, and our site was down for more than a day after the incident, forcing us to use a backup in another jurisdiction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: Data center outages in the UAE and Bahrain were a wake-up call for the <\/strong><strong>digital economy<\/strong>, exposing centralized data centers as a critical infrastructure vulnerability that businesses across MENA had previously ignored. The attacks on data centers will also challenge the Gulf\u2019s image as a secure hub for AI infrastructure \u2014 and could yet force a reassessment of physical security risks amid multi-bn-USD data center investments in both the UAE and Saudi Arabia.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">What happened?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An Amazon Web Services (AWS) data center in Dubai caught fire<\/strong> on Sunday morning after being struck by unspecified \u201cobjects,\u201d prompting the local fire department to cut power to the facility, including backup generators. The incident occurred on the same day Iranian ballistic missiles struck targets across the GCC, including the UAE and Bahrain.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Is it really that simple?<\/strong> AWS services are designed to withstand a single data center failure, but the outage spread to a second group of data centers, triggering a double failure that bypassed standard redundancies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>At the same time<\/strong>, a power failure in <strong>Bahrain <\/strong>knocked out a single zone, taking other racks offline.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As of Monday night, we understand that full restoration of the two damaged data center <\/strong><strong>zones will take at least another day<\/strong>, with both physical cooling and power systems undergoing repairs.<\/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\">Who else was affected?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AWS, businesses, and banks love to talk about their infrastructure when they ink <\/strong><strong>contracts<\/strong>, flooding journalists\u2019 inboxes with press releases. (They\u2019re not alone \u2014 we\u2019re looking at you, Microsoft.) They\u2019re quieter about details of setups, citing infrastructure security concerns. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Still, we know the division of Amazon is a partner of choice for multiple banks, financial <\/strong><strong>institutions<\/strong>, digital platforms, local government agencies, and logistics companies across the region, with many <a target=\"_blank\" href=\"https:\/\/www.itp.net\/cloud-data\/aws-outage-in-disrupts-internet-across-middle-east\" style=\"\" rel=\"noopener\">relying heavily on key AWS services<\/a>. The outage in Dubai and Bahrain is causing many to report that key services are offline, while others are seeing service quality degraded. <\/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\">Why it matters<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Data centers and their supporting energy infrastructure are now targets of war<\/strong> on par with oil and gas facilities. Taking them down is a fast way to disrupt government services, businesses, and financial institutions, raising the cost of the conflict \u2014 something Tehran seems keen to do.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hindsight is 20\/20: <\/strong>Companies should now be acutely aware of the importance of multi-region deployment of their apps and services to avoid impact in the future, Engagesoft CTO Tareq Tahboub tells us. Case in point: Enterprises and government entities that have backup services on AWS infrastructure in multiple regions were unaffected by the outage.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The data center landscape is highly centralized<\/strong>, Saudi semiconductor design company Rimal\u2019s CEO Houssam Salem tells EnterpriseAM, adding that a handful of companies control most on-the-ground capacity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Regulations (and quiet pressure) on data sovereignty help keep things that way. <\/strong>Governments across the region have a host of reasons for wanting data about their country (and their residents and businesses) to stay within borders. In our corner of the world, the big issue of the day isn\u2019t \u201cdata privacy\u201d as it is in the west, but where data lives and who has access.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Simple economics also mean that clusters of data centers make good sense \u2014 until they <\/strong><strong>don\u2019t. <\/strong>The economics of hyperscale AI \u201cpush states toward establishing AI hubs which concentrate massive power supply, cooling capacity, and fiber connectivity co-located in a single campus to maximize efficiency,\u201d Rihla Research & Advisory CEO Jesse Marks said in a <a target=\"_blank\" href=\"https:\/\/jessemarks.substack.com\/p\/what-the-iran-war-means-for-gulf\" style=\"\" rel=\"noopener\">note<\/a>. While this is more economically viable, a single strike can take down an entire AI stack, as is evident by the AWS outage, calling into question how builders of AI clusters currently under construction will help harden infrastructure and design fallbacks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Salem argues this centralization is going to change in the near future<\/strong> as more data centers come online across the region. Gulf states could also resort to embedding frameworks in their existing contracts with hyperscalers, allowing critical systems to be shifted to secure facilities in allied countries within minutes of a disruption, Marks suggests.<\/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 context<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Considering security risks to AI infrastructure is now a pressing priority<\/strong> if the UAE and Saudi want to become global hubs of compute. The GCC data center market is projected to hit USD 9.5 bn by 2030, buoyed by sovereign capital flows into hyperscale, AI-native infrastructure by the UAE\u2019s G42 and Saudi PIF\u2019s Humain. Humain\u2019s data centers \u2014 currently under construction \u2014 were set to come online this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Regional stability is among the top selling points for those looking to attract AI <\/strong><strong>investment to our part of the world.<\/strong> \u201cThe challenge now is to ensure that the digital infrastructure [countries in MENA] are building commands the same strategic protection they have long afforded their energy assets,\u201d says Marks.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/data-centers\/\">Data Centers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/g42\/\">G42<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/humain\/\">Humain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tech\/\">TECH<\/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=\"683994 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=\"683994\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/03\/683994\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-683994\" class=\"content-area-description single-story post-683994 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\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=\"683995\" 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=\"683995\">\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\/03\/oriental-weavers-counts-carbon-to-clear-new-green-trade-hurdles\/\">\r\n                            Oriental Weavers counts carbon to clear new green trade hurdles                        <\/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\/03\/oriental-weavers-counts-carbon-to-clear-new-green-trade-hurdles\/\" 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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By verifying its footprint across 27 factories, the company is letting investors know that it is getting ahead of looming green trade barriers in some of its key markets. In a similar way to how investors now dive deep into company earnings releases, they may soon also be digging just as deep into company reports on green credentials to assess return expectations and decide where best to put their capital.<\/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\">Valmore Holding sees revenues rise 24% y-o-y in 2025<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Valmore Holding \u2014 FKA Egypt Kuwait Holding \u2014 saw broadly flat net income of USD 186 mn in <\/strong><strong>2025<\/strong>, as the absence of a one-off USD 54.5 mn FX gain booked the previous year offset underlying operational improvements, according to its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/3\/120.pdf\" style=\"\" rel=\"noopener\">earn<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/3\/120.pdf\" style=\"\" rel=\"noopener\">ings release (pdf)<\/a>. Revenues rose 24% y-o-y to USD 685 mn over the same period, supported by growth across portfolio companies, improving operating conditions, and continued portfolio optimization.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>4Q performance remained solid<\/strong>, with revenue increasing 15% y-o-y to USD 166 mn and net income rising 7% to USD 49.4 mn, despite coming off a high 4Q 2024 base that was similarly inflated by non-recurring items.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cbam\/\">CBAM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oriental-weavers\/\">Oriental Weavers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/valmore-holding\/\">Valmore Holding<\/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=\"683997\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"683997\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/03\/global-investors-turn-sour-on-ems-after-record-setting-rally-amid-regional-war\/\">\r\n                            Global investors turn sour on EMs after record-setting rally amid regional war                        <\/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\/03\/global-investors-turn-sour-on-ems-after-record-setting-rally-amid-regional-war\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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has-post-thumbnail hentry category-planet-finance tag-capital-markets tag-enterpriseam tag-equities 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>Emerging market currencies and stocks have taken a beating as the war in <\/strong><strong>the region prompts a sell-off of riskier assets<\/strong>, snapping a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/02\/27\/capital-flows-pivot-to-emerging-markets\/\" style=\"\" rel=\"noopener\">record-setting rally<\/a> that had taken hold amid fears of an AI bubble in the West and a desire to diversify from the USD, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-03-02\/emerging-market-currencies-stocks-fall-on-iran-conflict-worries\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. Haven trades are back in charge, with investors rotating toward Treasuries, the CHF, and investment-grade emerging markets, excluding the Gulf, as we wrote yesterday.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>A gauge of developing-nation FX fell 0.9% after touching all-time highs last week as the USD strengthened. Meanwhile, EM stocks dropped as much as 1.9% \u2014 the steepest slide in a month, led by tech and consumer discretionary names. Pakistan\u2019s market plunged enough to trigger an hour-long halt, marking its biggest drop on record.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Local-currency bonds of net oil-importing countries saw yields rise<\/strong> as Brent crude jumped 8.6% to around USD 79 \/ bbl \u2014 its highest in more than a year \u2014 while gold rallied alongside the greenback.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>JPMorgan also slashed its overweight recommendation on EM currencies and local bonds by half<\/strong> on the back of the sell-off.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Central banks moved fast: <\/strong>Indonesia and India intervened in FX markets, while Turkish lenders reportedly sold about USD 5 bn to steady the TRY. \u201cThere\u2019s panic selling at first, then normalization,\u201d said Osmanli Portfoy CEO Mehmet Gerz.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bigger risk is inflation:<\/strong> Barclays warned that sustained higher oil prices could delay rate cuts across easing-cycle economies like South Africa, Poland, Turkey, and Hungary. Bloomberg Economics sees crude potentially climbing as high as USD 108 \/ bbl if tensions intensify.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p><p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Asia-Pacific markets opened in the red this morning as the escalating regional war enters its fourth day. South Korea\u2019s Kospi is down over 3.6% \u2014 despite defensive sector gains \u2014 and Japan\u2019s Nikkei is down 2.2%. Over on Wall Street, indices are set to open in the red today, with futures down across the board. <\/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\">47,692<\/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: +14.0%)<\/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>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 49.16<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 49.30<\/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 49.17<\/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 49.27<\/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-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,489<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: 0.0%)<\/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>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-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>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\">6,882<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +0.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">10,780<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.2% (YTD: +8.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,987<\/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: +3.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 77.76<\/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\">+6.7%<\/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>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 2.96<\/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\">+3.5%<\/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>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 5,312<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 69,349<\/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\">+6.3% (YTD: -20.8%)<\/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 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\">1,033<\/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: +4.0%)<\/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>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\">21.42<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+8.0% (YTD: +55.0%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 fell 0.6% at <\/strong><strong>yesterday\u2019s<\/strong><strong> close<\/strong> on turnover of EGP 4.7 bn (26.4% below the 90-day average). Local investors were the sole net buyers. The index is up 14.0% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Egypt Aluminum (+5.9%), Misr Cement (+5.9%), and Heliopolis Housing (+5.7%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Raya Holding (-4.9%), TMG Holding (-2.4%), and EFG Holding (-1.9%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/equities\/\">equities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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 going-green wp-block-group issue-section\" id=\"683999\">\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\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday 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\/goinggreen\/\">\r\n                            Read going Green                        <\/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\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/egypts-construction-boom-is-creating-a-waste-problem-and-a-window\/\">\r\n                            The EGP-bn play in construction waste<\/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\/goinggreens\/egypts-construction-boom-is-creating-a-waste-problem-and-a-window\/\" 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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Broken concrete hugs overpasses. Bricks, mortar, and dust line side roads like permanent fixtures. With the real estate boom happening, construction never really stops in Egypt \u2014 and neither does demolition.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cWe have a big city, and our big city \u2014 fortunately \u2014 is considered a construction site all<\/strong><strong> the time<\/strong>,\u201d Adham El Mahdy, sustainability director at Lafarge Egypt and general manager of its waste arm Geocycle, tells EnterpriseAM, arguing that demolition never really stops either. The issue isn\u2019t unique to Egypt, but it\u2019s more pronounced here because construction is relentless \u2014 bridges, roads, compounds \u2014 and capital keeps flowing into real estate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Construction and demolition \u201cwaste\u201d \u2014 or, as the industry prefers to call it, \u201cmaterials\u201d <\/strong>\u2014 begins as raw input, yet instead of re-entering the construction cycle, it is often treated as a burden to be disposed of. \u201cTens of mns of [tons] of waste remain unmanaged and underutilized,\u201d El Mahdy said. Compounding the problem is the lack of a clear national baseline: estimates of annual waste generation vary widely, and there is no recent, publicly available official data. That data gap complicates policymaking, weakens enforcement, and deters investment in a sector that relies on scale and predictability to function efficiently.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Reuse isn\u2019t the problem \u2014 economics is. <\/strong>After sorting and crushing, pure concrete waste can partially replace aggregates in new ones, while mixed demolition waste can be reused as construction aggregates. Steel rebar is already recycled back into iron production. Other fractions can be used as raw material inputs in cement manufacturing. \u201cThe market today never rejects a material as long as it performs [\u2026] unless the economics don\u2019t work,\u201d El Mahdy tells us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">!_Subhead_!<strong> In today\u2019s market, the cheapest option always prevails<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>High costs of transporting and processing these materials tilt the balance against <\/strong><strong>recycling<\/strong><strong>.<\/strong> \u201cWhen logistics alone add a fixed cost per ton, recycled material can easily lose its price competitiveness versus virgin alternatives,\u201d El Mahdy explains. \u201cOnce you account for collection, transport, and processing, recycled materials must compete in a market where virgin inputs are often structurally cheaper,\u201d he adds. Moreover, Egypt\u2019s construction market is not regulated like Europe\u2019s, where mandates force the use of recycled, low-emission materials, which means sustainability alone doesn\u2019t move purchasing decisions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fix is to make dumping expensive enough that recycling becomes competitive<\/strong><strong>.<\/strong> \u201cIf waste continues to be treated as having negligible value, the system will never finance itself,\u201d El Mahdy argues. Today, contractors can dispose of waste for as little as EGP 15-50 per ton, and, in some cases, recyclers even pay a token amount to take it off their hands. Raising disposal fees to around EGP 400 per ton would flip that logic, turning what is now lost to landfills or informal dumping into the gate fee that flows to recyclers \u2014 directly or via the state \u2014 helping cover processing and transport costs and making recycled materials commercially viable.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A missed window for the state? <\/strong>If properly priced and managed, El Mahdy estimates that construction and demolition waste represents a window for bns of EGP \u2014 capable of financing new recycling infrastructure, creating jobs, and supplying the market with cheaper alternatives. The wider economics reinforce the case: reduced reliance on quarries, less mining activity, lower fuel and equipment use, fewer permits, and slimmer transport bills. \u201cAll the matters indicate that the general interest is to reconsider the business model of this problem,\u201d he said \u2014 framing it not as waste management, but as a missed industrial prospect.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The risk of ignoring it becomes alarming when looking next door:<\/strong> The war in Gaza has generated some <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/gaza-rubble-reconstruction-israel-war-85f12cfa\" style=\"\" rel=\"noopener\">60-68 mn tons<\/a> of rubble, mostly concrete, bricks, and metal from destroyed buildings. \u201cIt can\u2019t be exported \u2014 it must be recycled in place,\u201d El Mahdy noted. That reality, he argues, demands a clear financing framework \u2014 one backed by donors or public financing \u2014 because there are simply no alternatives.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">!_Subhead_! <strong>What needs to be done<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The solution starts with creating steady demand.<\/strong> The government could require a gradual increase in the share of recycled materials used in concrete, then extend similar rules to bricks, paving stones, and road projects. At the same time, disposal fees need to reflect the real cost of dumping. Higher fees would discourage landfill use and make recycling financially viable. With clear price signals and ensured demand, recycling facilities would have the confidence to invest and expand. A phased rollout \u2014 starting with reporting requirements and moving toward binding targets \u2014 would give companies time to adapt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bigger challenge is coordination.<\/strong> The construction sector operates in silos, even though costs and emissions are shaped across the entire chain. Design choices alone determine much of the building\u2019s long-term footprint. Materials used during construction account for about 30% of emissions, while energy after completion accounts for the remaining 70%. Unless designers, regulators, developers, and suppliers work within the same framework, progress toward greener and more efficient buildings will remain slow and uneven.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/recycling\/\">recycling<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sustainability\/\">sustainability<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\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=\"684001\" 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\/03\/684001\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-684001\" class=\"content-area-description single-story post-684001 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\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>Between Hormuz and a hard place | Travel stocks sell-off | One man\u2019s rubble is another man\u2019s treasure<\/p>\n","protected":false},"featured_media":683979,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-683978","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"0d25e7f2-93a9-4abe-bb58-553da080099c","teaser":"Between Hormuz and a hard place | Travel stocks sell-off | One man\u2019s rubble is another man\u2019s treasure","photo_url":"https:\/\/ent.news\/2026\/3\/158.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>War pushes USD closer to the EGP 50 mark - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/war-pushes-usd-closer-to-the-egp-50-mark\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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