{"id":684573,"date":"2026-03-01T00:00:00","date_gmt":"2026-03-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=684573"},"modified":"2026-03-05T09:35:21","modified_gmt":"2026-03-05T09:35:21","slug":"what-does-the-widening-regional-war-mean-for-egypt","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/what-does-the-widening-regional-war-mean-for-egypt\/","title":{"rendered":"What does the widening regional war mean for Egypt?"},"content":{"rendered":"<section id=\"684575\" 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=\"684575\">\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\/01\/cronos-gas-is-coming-to-egypt-just-a-year-later-than-planned\/\">\r\n                            Cronos gas is coming to Egypt, just a year later than planned                        <\/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\/01\/cronos-gas-is-coming-to-egypt-just-a-year-later-than-planned\/\" target=\"_blank\">\n                    Open in new tab               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          <a href=\"https:\/\/api.whatsapp.com\/send?text=Cronos+gas+is+coming+to+Egypt%2C+just+a+year+later+than+planned+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F03%2F01%2Fcronos-gas-is-coming-to-egypt-just-a-year-later-than-planned%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\/01\/cronos-gas-is-coming-to-egypt-just-a-year-later-than-planned\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2299.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"684576\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/01\/cronos-gas-is-coming-to-egypt-just-a-year-later-than-planned\/2299-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2299.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2299.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2299.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2299.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-684575\" class=\"content-area-description single-story post-684575 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-energy tag-enterpriseam tag-oil-and-gas tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, everyone. <\/strong>The regional security and economic landscape lurched yesterday as the US and Israel launched a sweeping attack on Iran and its leadership, prompting Iran to retaliate with drone and missile strikes on both Israel and Arab countries across the region.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What does this mean for us? <\/strong>From FX to tourism, the widening regional war has raised a lot of questions \u2014 we dive into them all in the news well, below. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/omny.fm\/shows\/enterpriseam-egypt\" style=\"\" rel=\"noopener\">WISH THIS MORNING\u2019S ISSUE was a podcast? We\u2019ve got you. Tap or click here<\/a><\/strong> to listen to Morning Drive, a 10-minute version of today\u2019s issue crafted for you to enjoy with your morning coffee, while getting the kids ready for school, <strong>or while stomping around the house wondering where the [redacted] you left your [redacted] reading glasses<\/strong>.<br><strong>***<\/strong><\/p><p class=\"tag-border-left\">Watch this space<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>ENE<\/strong><strong>RG<\/strong><strong>Y <\/strong><strong>\u2014 Italy\u2019s Eni expects to reach a final <\/strong><strong>investment decision on the<\/strong><strong> Cronos gas field in Cyprus <\/strong><strong>this<\/strong><strong> year<\/strong>, according to Global Natural Resources COO Guido Brusco <a target=\"_blank\" href=\"https:\/\/www.investing.com\/news\/transcripts\/earnings-call-transcript-eni-spa-reports-robust-q4-2025-results-93CH-4528108\" style=\"\" rel=\"noopener\">speaking<\/a> in its 4Q 2025 earnings call. When operational, the natural gas will be transported via a 90km subsea pipeline directly to Eni's infrastructure in Egypt to be then liquefied in facilities in Damietta for re-export as LNG.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Starting production from the 3.1 tcf field in 2027 as planned is looking increasingly<\/strong><strong> unlikely<\/strong>, according to industry publication <a target=\"_blank\" href=\"https:\/\/www.mees.com\/2026\/2\/27\/news-in-brief\/cyprus-president-eni-ceo-talk-cronos-in-rome\/761da1a0-13eb-11f1-bb11-f75f70787697\" style=\"\" rel=\"noopener\">Mees<\/a>, which sees 2028 as the more likely outcome.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/div><\/div><\/div><\/div><p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p><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>  \n<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong>, the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\" rel=\"noopener\">MENA-India<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\" rel=\"noopener\">Corridor<\/a><\/strong><strong>?<\/strong><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p class=\"tag-border-left\">Happening today<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>The Industry Ministry is offering around 1.3k fully serviced industrial plots to<\/strong><strong> investors starting today<\/strong>, ranging in size from 118 sqm to 400k sqm, it said in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02Jh6e45d5qL1ez19UVqqPFBBhryywV9jg77Bhezhqe6UDDGCmFgTpLBUxVzpXacr8l\" style=\"\" rel=\"noopener\">statement<\/a>. The tender covers 9.8 mn square meters across 35 industrial zones in 23 governorates. Interested investors can apply exclusively via the <a target=\"_blank\" href=\"https:\/\/madein.eg\/portal\/home\" style=\"\" rel=\"noopener\">Digital Industrial Egypt Platform<\/a> until March 15, with allocation results expected by early April.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>To channel land to serious investors and manage strong demand, the ministry has<\/strong><strong> introduced a competitive pricing mechanism.<\/strong> Where multiple applicants meet the technical and financial criteria for the same plot, allocation will be determined by the highest bid above the base price per square meter \u2014 a tie-breaker system that signals a shift toward more market-driven pricing for prime industrial land.<\/p><p class=\"tag-border-left\">News triggers<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s th<\/strong><strong>e first week of March \u2014<\/strong> here are the key news triggers to keep your eyes on this month:<\/p><ul>\n<li><strong>Non-oil private sector activity to see recovery this month?<\/strong> The private sector awaits S&amp;P Global\u2019s Purchasing Managers\u2019 Index report for February expected on Tuesday, after the index slipped back into red territory <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/04\/dont-let-the-49-8-pmi-headline-fool-you-as-output-continues-to-rise\/\" style=\"\" rel=\"noopener\">last month<\/a> following a short-lived prior recovery in the two months prior.<\/li>\n<li><strong>The business community and policymakers will have their eyes on<\/strong> <strong>February\u2019s <\/strong><strong>inflation figures <\/strong>\u2014 expected on 10 March. The country\u2019s <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/egypts-inflation-eases-in-january-clearing-the-path-for-rate-cut-tomorrow\/\" style=\"\" rel=\"noopener\">last monthly reading<\/a> showed annual headline urban inflation falling to 11.9%, despite an uptick in the prices of food and beverages. Analysts expect headline inflation to continue its downward path toward the central bank\u2019s target range of 7% (\u00b12%).<\/li>\n<\/ul><p class=\"tag-border-left\">Data point <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>USD<\/strong><strong> 6.3k <\/strong><strong>\u2014 that\u2019s<\/strong><strong> where JPMorgan sees the price of an ounce of gold head<\/strong><strong> by the end of 2026<\/strong>, as demand from central banks and investors drives the market, the investment bank said in a note to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/jp-morgan-sees-year-end-2026-gold-price-6300-per-ounce-2026-02-25\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. It also lifted its long-term gold forecast to USD 4.5k per ounce.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/omny.fm\/shows\/enterpriseam-egypt\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/780.jpg?ssl=1\"><\/a> <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p class=\"tag-border-left\">PSA-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>It\u2019s still pretty cold in Cairo today, with a high of 17\u00b0C and a low of 10\u00b0C, according to our favorite weather app.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s similarly cold in Alexandria<\/strong>, with a high of 11\u00b0C and a low of 17\u00b0C.<\/p><p class=\"tag-border-left\">The big story abroad <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The killing of Iran\u2019s leader Ali Khamenei is on every front page this morning <\/strong>after Iran confirmed the news hours after US President Donal Trump broke it. We have the details of the US-Israeli strikes that killed Khamenei as well as the Iranian response, plus what it all means for us here at home in the news well, below. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE IN BUSINESS NEWS-<\/strong> The escalating conflict between Anthropic and the US government made global headlines this weekend. After <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cvg3vlzzkqeo\" style=\"\" rel=\"noopener\">refusing to<\/a><a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cvg3vlzzkqeo\" style=\"\" rel=\"noopener\">cooperate<\/a> with the Pentagon in offering AI services, Anthropic has <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1aeff07f-6221-4577-b19c-887bb654c585\" style=\"\" rel=\"noopener\">decided to challenge in court<\/a> Washington\u2019s decision to label the startup a security risk \u2014 a designation that bars it from government contracts. The company had raised alarms regarding the potential for the US government to leverage its AI tools \u2014 such as Claude \u2014 for mass surveillance and fully autonomous weaponry. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Multinational conglomerate Berkshire Hathaway\u2019s 4Q 2025 earnings made waves<\/strong>, as its <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/boards-policy-regulation\/berkshire-hathaway-profit-falls-writedowns-lower-insurance-income-2026-02-28\/\" style=\"\" rel=\"noopener\">net income flagged<\/a> as ins. operations took a hit and a long-term investment in Occidental Petroleum was written down. The quarter marked Warren Buffet\u2019s final tenure as CEO, a role now assumed by Greg Abel \u2014 Buffet has stayed on as Chairman. Abel <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/3fa7f344-7aa3-43c5-b1ba-56de4459ca1e\" style=\"\" rel=\"noopener\">assured shareholders<\/a> that the firm will maintain Buffet\u2019s investment philosophy and not shy away from dealmaking.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/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=\"684577 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=\"684577\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/01\/684577\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-684577\" class=\"content-area-description single-story post-684577 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/2\/1521.jpg?ssl=1\"><\/a><\/span><\/p>\n<div class=\"grouped-tags\">\n<p><span style=\"font-weight:400;\"> Somabay at ITB Berlin 2026. Where vision meets the Red Sea.<\/span><\/p>\n<p><span style=\"font-weight:400;\">Somabay returns to ITB Berlin 2026 with a destination that continues to move forward: purposefully, confidently, and with scale.<\/span><\/p>\n<p><span style=\"font-weight:400;\">Rooted in the Red Sea and shaped by a long-term vision, Somabay brings together iconic hospitality, championship sport, restorative wellness, and a fully integrated lifestyle community. From refined resorts and a dynamic marina to world-class leisure and year-round sunshine, every element is designed to create enduring value and meaningful experiences.<\/span><\/p>\n<p><span style=\"font-weight:400;\">We look forward to welcoming you and sharing what&rsquo;s next for Somabay.<\/span><\/p>\n<p><span style=\"font-weight:400;\">Hall 6.2B | Stand 317<\/span><\/p>\n<p><span>3&ndash;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=\"684578\" 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=\"684578\">\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\/01\/what-does-the-widening-regional-war-mean-for-egypt\/\">\r\n                            What to watch for in Egypt as the US and Israel go to war with Iran                        <\/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\/01\/what-does-the-widening-regional-war-mean-for-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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<\/li>\n<li><strong>Iran has struck targets in Saudi Arabia <\/strong>as well as the UAE, Kuwait, Qatar, Jordan, and Israel, launching both missiles and drones. There have been few reports of casualties;<\/li>\n<li><strong>Ships are avoiding the Strait of Hormuz<\/strong> to steer clear of the conflict. Iranian media claimed the waterway is \u201ceffectively closed\u201d;<\/li>\n<li><strong>Dozens of Iranians are believed to have killed<\/strong>, including scores of school children reportedly killed by a US or Israeli strike;<\/li>\n<li><strong>Schools in the UAE are closed <\/strong>through Wednesday.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It soon became clear that regime change was the goal<\/strong>, with Trump telling the Iranian people in a televised address that, \u201cWhen we are finished, take over your government. It will be yours to take\u201d (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=o-E7DIctrzo\" style=\"\" rel=\"noopener\">watch, runtime; 8:06<\/a>). Trump further pledged to destroy the country\u2019s nuclear project, missile capabilities, and its navy, while threatening that members of the Islamic Revolutionary Guard Corps, army, and police would \u201cface certain death\u201d if they don\u2019t put down their arms.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Iran responded with drone and missile attacks on not just Israel, but US bases and other <\/strong><strong>targets in <\/strong><strong>neighboring Arab nations<\/strong>, including in the UAE, Saudi Arabia, Qatar, Kuwait, Iraq, Jordan, and Bahrain. Despite the intention to target US military sites, the Fairmont in Dubai\u2019s Palm Jumeirah was hit by a missile and a residential high-rise in Bahrain was struck by what is believed to have been an Iranian drone, sparking sharp condemnation from the region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The conflict shows no sign of easing even after the death of Iranian Supreme Leader Ali <\/strong><strong>Khamenei<\/strong>, with Netanyahu saying Israel will \u201cwill hit thousands more targets of the terror regime\u201d in the next few days and Trump writing that the bombing campaign will continue \u201cuninterrupted throughout the week.\u201d<\/p>\n<p style=\"border-right-style:solid;padding:0;margin:0;border-top-width:0pt;border-right-width:0pt;line-height:1.15;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;orphans:2;widows:2;text-align:left\"><strong>Egypt has so far avoided being directly pulled into the conflict<\/strong>, but our \u201cposition at the heart of the global trade and energy network makes it<strong> quickly susceptible to any broad <\/strong><strong>regional disturbance<\/strong>,\u201d economist Hany Abou El Fotouh tells us. The \u201cimpact will not arrive all at once \u2014 rather, it will seep through multiple channels like energy, transport, financial flows, and subsequently, investment behavior,\u201d he explained.<\/p>\n<p class=\"tag-border-left\">What to watch: FX and outflows<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGP is likely to come under pressure in the coming days<\/strong> \u2014 and that\u2019s healthy. A freely floating currency should come under pressure as risk-averse investors pull out of the regions and those staying the course weigh the likely impact on our economy of the storm Washington and Tel Aviv have unleashed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Look for the EGP to hit 49 against the greenback in the coming days<\/strong> if the conflict continues, three banking sources told EnterpriseAM. We will see the pressures build as banks open their doors this morning and fulfill exit requests from the weekend, we were told. \u201cThe EGP has been weakening recently and there may be a bit more pressure in a risk-off environment. At the margin, that may make central banks less inclined to lower interest rates,\u201d Capital Economics Chief Emerging Markets Economist William Jackson tells us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Already, some USD 1.7 bn in hot money had exited through the secondary system<\/strong>, we were told yesterday, with the amount expected to have increased further. This is on top of an estimated USD 2-3 bn of inflows that never materialized due to investors staying clear of the market over heightened rhetoric from the US in the run up to the strikes, we were told. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe magnitude of these outflows and the temporary depreciation of the EGP will depend <\/strong><strong>on the length of this war<\/strong>,\u201d HC Securities Head of Research Nemat Choucri tells us, mirroring what others told us about energy prices, Suez Canal receipts, and tourism inflows (see below).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But Egypt is in a good position to manage outflows and soon welcome them back<\/strong>, one of the banking sources told us, pointing to the country\u2019s much-improved stock of foreign currency reserves. Government officials have also previously told us how confidence in the exchange rate regime and ability to exit when needed has persuaded investors to return to the market as optimism returns, while Choucri highlighted how outflows turned into inflows by the end of the 12-day war in June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FX reserves are a safety net that the government is keen to maintain<\/strong>, with pressure building on the Finance Ministry to proceed with new international issuances before the end of the fiscal year at competitive rates to reduce the bleed on our reserves. Egypt repaid some USD 2.3 bn worth of international bond and sukuk issuances last month, with more to come in the months ahead, one of the banking sources told us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cEgypt\u2019s strong foreign exchange reserves will be the first line of defense, but they will <\/strong><strong>not hold out for long if the conflict is protracted and the bill for reform double<\/strong>s,\u201d Abou El Fotouh said. Abou El Fotouh explained that the problem isn\u2019t primarily the rise in prices as \u201cshort-term shocks can be absorbed, but how long they will remain high and if the country has \u201cenough flexibility to rearrange spending priorities without massive economic disruption.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Demand for local debt is expected to remain strong, albeit at higher yields than recent <\/strong><strong>weeks<\/strong>, another senior banker tells us. This comes at a time when the Finance Ministry is looking to borrow EGP 1.1 tn this month, up from EGP 843 bn the month before, according to a document from the ministry seen by EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the same can\u2019t be said for the EGX, with the market set to \u201cbe affected in the short <\/strong><strong>term by waves of selling due to fears<\/strong>, as liquidity exits and moves toward safe havens,\u201d EGX board member Rania Yacoub tells us. Osool Brokerage Managing Director Ehab Saeed sees the EGX30 falling from 49.2k points to approach 47.5k-48k, warning the market opening today \u201cwill certainly not be pleasant because it was already undergoing a correction phase\u201d and will accelerate further.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investors are already flocking to safe haven assets: <\/strong>A surge in gold trading resulted in a temporary suspension of all gold pricing within the local market until Monday, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/2101122\/%D8%A8%D8%B9%D8%AF-%D8%B5%D8%B9%D9%88%D8%AF-%D8%A7%D9%84%D8%AC%D8%B1%D8%A7%D9%85-450-%D8%AC%D9%86%D9%8A%D9%87%D9%8B%D8%A7-%D8%B4%D8%B9%D8%A8%D8%A9-%D8%A7%D9%84%D8%B0%D9%87%D8%A8\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports, citing Hani Milad, the head of Federation of Egyptian Chambers of Commerce\u2019s gold and jewelry division. The precious metal jumped over EGP 450 per gram in a matter of hours, with people using it as a hedge during this time of uncertainty, Milad said, strongly advising citizens to stop buying until a measure of sanity returns to the market.<\/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 to watch: Tourism<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is the big one, folks: <\/strong>Tourism to Egypt has been booming \u2014 and seemed poised to get yet another boost from the opening late last year of the Grand Egyptian Museum. What some had claimed was just pent-up demand post-covid was, in fact, structural interest in Egypt as a destination. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Red Sea demand is typically the most-sensitive to geopolitical nastiness. <\/strong>Past incidents have seen cancellations hit there first, and a small number of tourists are already leaving Hurghada and Sharm El Sheikh on the advice of their embassies, an official from the Chamber of Tourism Companies tells us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Could we see a repeat of what happened during the 12-day war against Iran in June? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Some hotel operators suffered sharp cancellations, the source added. Chamber of Tourism Companies member Magdy Sadeq called for caution, warning that the sector is keeping an eye on developments after having made a substantial recovery during the winter season. The risk, Sadeq says, is in the duration of the Israeli-American strikes. The problem is that \u201ca tourist makes their decision based on the image of the region as a whole, not just the borders of a single state,\u201d according to Abou El Fotouh.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The aviation industry was quick to cancel flights.<\/strong> EgyptAir joined its regional and global peers, <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EGYPTAIR\/\" style=\"\" rel=\"noopener\">suspending flights<\/a> to Kuwait, Doha, Bahrain, Abu Dhabi, Sharjah, Qassim, Dammam, Erbil, Baghdad, Amman, Beirut, and Muscat. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Flights to Egypt from outside the GCC are so far unaffected<\/strong>, with the country considered sufficiently distant from the conflict in terms of distance and lack of both Iranian proxies and US military bases on its territory. Flight tracking website <a target=\"_blank\" href=\"https:\/\/www.flightradar24.com\/29.84,46.20\/4\" style=\"\" rel=\"noopener\">Flightradar24<\/a> shows traffic avoiding the affected areas and converging on surrounding airports, including Cairo.<\/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 to watch: Suez Canal <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shipping lines had already been diverting away from the Suez Canal as tensions and <\/strong><strong>rhetoric rose over the weekend<\/strong> \u2014 even before the strikes began. That included Maersk rerouting its ME11 and MECL services around the Cape of Good Hope, the maritime giant said in a <a target=\"_blank\" href=\"https:\/\/www.maersk.com\/news\/articles\/2026\/02\/27\/me11-mecl-sailing-changes-cape-of-good-hope-2026\" style=\"\" rel=\"noopener\">statement<\/a> Friday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>French shipping outfit CMA CGM<\/strong><strong> is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cma-cgm.com\/news\/5339\/middle-east-strait-of-hormuz-and-bab-el-mandeb-security-transits\" style=\"\" rel=\"noopener\">rerouting its vessels<\/a><\/strong><strong> via the Cape of Good Hope<\/strong>, after suspending transit through the Suez Canal until further notice. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Madbouly government\u2019s hope of luring traffic back to the canal will be pushed back<\/strong>, with shipping lines often looking for 1-3 months of stable and safe conditions following the end of any hostilities before sending back their larger vessels, a senior government official tells us. Despite progress being made in bringing back vessels through the canal in recent months, the canal\u2019s target of bringing in USD 8-9.2 bn is now solidly out of reach.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shipping lines could be spooked further if the Houthis follow through on their threat to <\/strong><strong>\u201cresume missile and drone attacks<\/strong>, making the Red Sea a standing variable in Tehran\u2019s escalation toolkit,\u201d former head of supply chain and transport industries at the World Economic Forum Wolfgang Lehmacher tells EnterpriseAM. <\/p>\n<p class=\"tag-border-left\">What to watch: The price of oil<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThere is no impact that you can quantify, nor can you speak about it or determine its <\/strong><strong>scale, until you know the duration of the war,<\/strong>\u201d Thndr analyst Esraa Ahmed told us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>If the conflict remains just a \u201climited set of strikes\u201d \u2014 which we\u2019ve likely already <\/strong><strong>surpassed \u2014 Jackson sees oil reaching USD 80 a barrel<\/strong>, up from the USD 73 that Brent crude was selling at before markets closed for the weekend, according to a <a target=\"_blank\" href=\"https:\/\/www.capitaleconomics.com\/publications\/middle-east-north-africa-rapid-response\/us-and-israel-strike-iran\" style=\"\" rel=\"noopener\">note<\/a>. But with rhetoric from both sides of the conflict becoming increasingly aggressive and the pace of attacks continuing, we are likely looking at a \u201clonger conflict that causes disruptions to supply could send prices much higher \u2013 with a material effect on global inflation.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Are we looking at USD 100 a barrel? <\/strong>Despite the build up of American forces in the region having led to \u201cpolitical risk premium baked into the oil price\u201d disruptions to oil flows out of the region via the closure of the Strait of Hormuz or Iranian supply disruptions could see prices pass the USD 100 a barrel for the first time since 2022, according to Jackson. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Strait of Hormuz remains the most sensitive point in the equation<\/strong>, warned Abou El Fotouh. Even if movement is only temporarily disrupted in the waterway, which carries some 20% of the world's oil and gas flows, \u201cmarkets will respond quickly, as they build their expectations on risks, not just facts,\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re already seeing tankers avoid the strait<\/strong>, with Iran\u2019s Tasnim News Agency claiming it\u2019s practically closed, although no formal announcement has been made by Tehran. Ships <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-02-28\/oil-tankers-avoiding-vital-hormuz-strait-after-us-bombs-iran\" style=\"\" rel=\"noopener\">reported<\/a> receiving a radio broadcast \u2014 reportedly from the Iranian navy \u2014 instructing them to leave the waterway as passage is banned.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Higher oil prices will put pressure on the Madbouly government\u2019s budget. <\/strong>We came into the crisis with oil hovering below the USD 77 per barrel that the Finance Ministry had pencilled in. Our reliance on imported oil would put pressure on the balance of payments, Abou El Fotoh told us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The war has now upended many of the state\u2019s assumptions it made in the draft budget <\/strong><strong>ahead of presenting it to the House this March.<\/strong> This could mean that the Finance Ministry will resort to hedging against oil price volatility once again if energy prices rise and uncertainty remains, another government official tells EnterpriseAM<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But \u201cit is too early to assess the impact of rising oil prices on the new budget, as it <\/strong><strong>remains unclear how long the crisis will last<\/strong>,\u201d the official told us. While public finances remain stable with decent revenues, the outbreak of the war risks driving up food and energy prices and the impact of exchange rate fluctuations on debt service obligations could shift the budget's trajectory should tensions escalate, the official added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also worth keeping an eye on: <\/strong>How fast is the government able to pass the rising price of oil on to consumers and businesses at the fuel pumps, factories, and other installations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bottom line: <\/strong>\u201cWe have made significant strides in the economic reform program, but global and regional risks inevitably impact official targets,\u201d the official said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">What to watch: Inflation and rates<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Look for global inflation to rise 0.6-0.7 percentage points<\/strong>, which would have an oversized impact on monetary easing in emerging markets, according to Jackson. \u201cThe repercussions of the war are not limited to the general budget, but extend to citizens\u2019 wallets,\u201d EG Bank board member Mohamed Abdel Aal tells EnterpriseAM. While gold and silver will be seen as a way to store value ahead of potential decline of emerging currencies, a return to the greenback as the primary safe haven currency will increase both import costs and the cost of servicing external debt, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the event that the \u201ccrisis is contained, the [central bank\u2019s] monetary policy committee <\/strong><strong>may settle for leaving<\/strong><strong> interest rates unchanged at its next meeting to absorb the shock<\/strong>,\u201d Abdel Aal said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The risk is to the longer-term outlook: <\/strong>If the conflict gets worse, we could see an \u201c\u2018imported\u2019 wave of inflation due to jumps in shipping and fuel prices, and that could prompt the central bank to keep interest rates higher for longer than planned,\u201d Abdel Aal added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Few will be envious of the hard decisions that the central bank will have to make<\/strong>, having to balance between tackling inflationary pressures stemming from energy market disruptions and the \u201cneed to maintain the attractiveness of the currency and prevent sharp fluctuations in the exchange market,\u201d Abou El Fotouh said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve got a month to see how things shake out: <\/strong>The central bank is next set to review its interest rate policy on 2 April, according to its public calendar.<\/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 to watch: Energy <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We could face tighter energy supplies after Israel shut off Egypt-bound exports after the <\/strong><strong>attack started yesterday morning<\/strong>, a senior government official in the oil sector tells EnterpriseAM. Flows to industry have so far been unaffected by the cutoff of some 1.1 bcf per day of gas sent by Israel, officials tell us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Oil Ministry wants us all to chill out: <\/strong>\u201cWe have diversified sources of gas supplies and readily available alternative capacities \u2026 to meet electricity and industrial needs,\u201d it said in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1493851929451889?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a>. Reserves of petroleum products remain at \u201csafe\u201d levels, Cabinet also <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0Xd9tdE3PJq2RVKZ1WVxFzXVByNCMCFiuwY9yF738phQWLoZ17cnhd8XJLfHxaizLl\" style=\"\" rel=\"noopener\">said<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bridging the gap are docked floating storage regasification units that are working at full <\/strong><strong>capacity<\/strong>, a government official told us. Looking at the longer term, the official also pointed to contracting 24 LNG shipments from Qatar and the renewal of numerous supply arrangements as helping to mitigate supply concerns until the war and uncertainty comes to an end \u2014 assuming that is that the Strait of Hormuz remains open.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>To ensure reserves don\u2019t dip <\/strong>the Madbouly government is looking to accelerate imports of some LNG cargoes, including those <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/10\/egypt-to-finalize-long-term-lng-agreements-with-global-suppliers-this-week\/\" style=\"\" rel=\"noopener\">contracted last summer<\/a>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-02-28\/egypt-seeks-earlier-lng-imports-as-israel-cuts-gas-amid-iran-war\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing people it says are in the know. <\/p>\n<p class=\"tag-border-left\">What\u2019s happening on the diplomacy front? <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign Ministry is advocating for dialogue: <\/strong>The Foreign Ministry released a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/photo\/?fbid=1493715612798854&set=a.144073987763030\" style=\"\" rel=\"noopener\">statement<\/a> shortly after the attacks started reiterating that the \u201conly path to ensuring security and stability lies in a commitment to the choice of diplomacy and dialogue.\u201d President Abdel Fattah El Sisi and Foreign Minister Badr Abdelatty highlighted the importance of a diplomatic solution during calls with their regional counterparts. <\/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 bottom line<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe Egyptian economy today does not stand on fragile ground as it did in previous <\/strong><strong>[regional crises], but it is also not isolated from the storm,\u201d<\/strong> according to Abou El Fotouh. \u201cThe strength of current indicators gives us time and space to move, nothing more \u2026 If pressure on Suez Canal revenues coincides with a slowdown in tourism and the exit of short-term investments, liquidity management becomes more complex,\u201d he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" 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markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/01\/egx-kicks-off-first-day-of-futures-trading-on-the-egx\/\">\r\n                            The EGX30 is now a hedgeable asset                        <\/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\/01\/egx-kicks-off-first-day-of-futures-trading-on-the-egx\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-attachment-id=\"684582\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/01\/egx-kicks-off-first-day-of-futures-trading-on-the-egx\/1417-jpg-61\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1417.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1417.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1417.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1417.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-684581\" class=\"content-area-description single-story post-684581 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-capital-markets tag-derivatives tag-egx tag-enterpriseam tag-finance tag-financial-markets 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>Der<\/strong><strong>ivatives trading w<\/strong><strong>ill kick off for the very first time on the EGX in just a few <\/strong><strong>hours time <\/strong>\u2014 assuming there\u2019s no last-minute decision to postpone with the war in Iran cranking up global volatility \u2014 with the launch of three- and six-month futures contracts tracking the EGX30 index, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/688162.pdf\" style=\"\" rel=\"noopener\">a statement (pdf)<\/a> by EGX Chairman Islam Azzam. The phased rollout will eventually expand to include EGX70 derivatives, single-stock futures, and options.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Derivatives? <\/strong>Derivatives are financial contracts whose value is derived from an underlying asset, allowing investors to hedge against risk or speculate on future price movements. This can be anything from stocks, indices, oil, currency, even interest rates, and in this case the EGX30. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There are four types of derivatives, but only one of them is launching on the EGX \u2014 for <\/strong><strong>now at least. <\/strong>Today will see the entrance of futures to the EGX, which is a contract to buy or sell an asset at a predetermined price at a specified date in the future. The EGX is also set to open up to options at a later date, which is a type of derivative that gives the holder the right, but not the obligation, to buy or sell an asset. The two other types are forwards, which act like futures but are private agreements between two parties, and swaps, which are private agreements to exchange cashflows.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Derivatives extend beyond basic price speculation<\/strong>, offering sophisticated tools like short selling for bearish markets and swaps for managing interest rate or currency volatility. However, the inherent leverage \u2014 where minimal capital controls a large exposure \u2014 creates a high-stakes environment where both gains and losses are significantly intensified.<\/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 launch of derivatives is arguably the single biggest upgrade to the EGX\u2019s market architecture in a decade, transforming it from a one-way market into a sophisticated ecosystem for risk management. For institutional investors, this provides the necessary assurance to hold Egyptian equities during periods of macro volatility, while for the broader market, a EGP 1 multiplier is a clear signal that the EGX is hunting for retail liquidity. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Back to the Future(s)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Right now, the product only comes in two flavors<\/strong>, with the three-month contract typically more liquid and suited to short-term positioning, with tighter pricing and easier entry and exit. The six-month contract is geared toward longer-term hedging; while usually less liquid, it allows investors to lock in protection for two quarters without having to roll the position every three months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the first phase \u2014 where the underlying asset is the EGX 30 itself \u2014 the multiplier is set <\/strong><strong>at EGP 1 per index point<\/strong>, which will lower the bar for entry, support contract granularity, improve liquidity, enable precise hedging, and reduce concentration risk, according to <a target=\"_blank\" href=\"https:\/\/www.tamimi.com\/news\/egyptian-exchange-to-launch-futures-trading-market-on-1-march-2026\/\" style=\"\" rel=\"noopener\">Al Tamimi and Company<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGP 1 multiplier is a deliberate play for retail participation<\/strong>, Al Ahly Pharos Head of Research Hany Genena tells EnterpriseAM. With low entry costs, he expects high-net-worth individuals and retail margin clients to dominate the market in the first half of 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The product also makes the EGX more \u201cinvestable for bigger players<\/strong>,\u201d Evolve Investment Holding CEO Sameh Al Torgman tells us. He noted that index futures are a tool that professional investors expect because they allow for efficient risk hedging. \u201cDerivatives can bring in a more sophisticated investor base, and that\u2019s the big strategic win,\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Conversely, local pension funds and ins. companies \u2014 which prioritize low volatility and <\/strong><strong>recurring <\/strong><strong>cashflows<\/strong><strong> \u2014 are unlikely to be major players initially<\/strong>. Many fund managers may also be restricted by internal mandates that don't yet allow for leveraged instruments, Genena added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While derivatives are a standard operational requirement for some global funds, don't <\/strong><strong>expect index futures to trigger an immediate re-allocation to the EGX. <\/strong>\"The two main barriers remain stock freefloat\/liquidity and repatriation,\" Genena told us. Also, hedging often \u201cwipes out the return\u201d on carry trades, he said, meaning the existence of the tool doesn't automatically mean it will be used by foreign yield-seekers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The primary risk, as with any leveraged instrument, is amplified volatility<\/strong>. \u201cFutures can partially impact the spot market if severe losses on futures trigger liquidation in spot to cover margin calls,\u201d Genena warns. Still, the futures market would need to reach significant volume before it could truly dictate returns in the underlying stocks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the positive side, derivatives can actually support steadier trading<\/strong>. As Al Torgman notes, they give investors a way to manage exposure without aggressively buying or selling physical shares every time sentiment shifts. This decoupling can lead to better price discovery and a more resilient market structure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">What\u2019s next?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uptake is expected to be measured at first. <\/strong>\u201cEven with strong interest, derivatives markets typically need a short runway while brokers finalize onboarding and market-makers calibrate pricing,\u201d Al Torgman tells us. \u201cOverall, it\u2019s a positive step, it upgrades the market toolkit, supports stronger participation, and signals that the EGX is moving closer to international market standards,\u201d Al Torgman added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But w<\/strong><strong>ith the region being plunged into uncertainty with war on Iran, <\/strong><strong>\u201csome investors <\/strong><strong>might use [the futures market] to express their fears regarding the market<\/strong>,\u201d with the launch of the country\u2019s first derivative contracts coinciding with the second day of a regional war, Al Ahly Pharos Head of Research Hany Genena tells EnterpriseAM. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n\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\/derivatives\/\">derivatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance\/\">Finance<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"684583\" 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=\"684583\">\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\">A MESSAGE FROM VISA<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/01\/from-stablecoins-to-ai-shopping-the-way-we-transact-is-changing-rapidly\/\">\r\n                            From stablecoins to AI shopping, the way we transact is changing rapidly                        <\/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\/01\/from-stablecoins-to-ai-shopping-the-way-we-transact-is-changing-rapidly\/\" 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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Emerging trends such as AI, blockchain, and intelligent data are fundamentally transforming consumer behavior, leading to profound changes in the ways we pay and get paid.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Here\u2019s what you need to know:<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- We are moving beyond mobile shopping into \u201cagentic commerce.<\/strong>\u201d Instead of manually searching for products and services, AI agents will transact on our behalf. These agents will manage payments using secure digital tokens, personalize choices based on past behavior, and strictly enforce spending limits.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Stablecoins are becoming a trusted part of global infrastructure. <\/strong>They are particularly vital for cross-border payments in regions like Sub-Saharan Africa, where remittances remain among the most expensive globally. Stablecoins offer a faster, cheaper way to move money that will eventually move us toward 365-day instant settlement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What exactly are stablecoins?<\/strong> They are cryptocurrencies backed by government-issued money (USD, EUR, GBP, etc.) referred to as fiat currency.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Biometric authentication (fingerprints and facial recognition) and device-based<\/strong><strong> security are making transactions both faster and safer. <\/strong>The manual checkout is being replaced by biometric authentication, which reduces cart abandonment for merchants, minimizes fraud risk, and eliminates the frustration of re-entering 16-digit card details for consumers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Half of all global consumer payments will be made with card credentials rather than <\/strong><strong>cash for the first time in 2026. <\/strong>In the CEMEA region, cash\u2019s share of spending has already dropped from 80% to 60% in just five years. Why does this matter? It\u2019s a significant step toward enabling financial inclusion. Collaborative efforts among solution providers, governments, grassroots innovators, and fintech\u2019s bridge the gap between cash-heavy economies and the global digital network.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Financial institutions are moving towards hyper-personalization, tailored services <\/strong><strong>that address individuals rather than broad groups; the segment of one<\/strong>. To maintain their customer base and stay relevant, banks and merchants must adopt agile, cloud-based systems that allow them to launch new features in weeks rather than months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>These payment trends and predictions are just the beginning. <\/strong>As we see these trends play out, rising expectations and rapid digitization will shape a more intelligent, inclusive, and effectively borderless payments landscape.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tareq Muhmood, Regional President, CEMEA, Visa<\/strong><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/a-message-from-visa\/\">A MESSAGE FROM VISA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/visa\/\">Visa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"684585\" 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=\"684585\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/01\/the-second-phase-of-industrial-financing-program-is-here-with-bigger-caps-new-kpis\/\">\r\n                            Gov\u2019t scales up industrial financing program                        <\/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\/01\/the-second-phase-of-industrial-financing-program-is-here-with-bigger-caps-new-kpis\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1446.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"684586\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/01\/the-second-phase-of-industrial-financing-program-is-here-with-bigger-caps-new-kpis\/1446-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1446.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1446.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1446.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1446.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-684585\" class=\"content-area-description single-story post-684585 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-enterpriseam tag-finance tag-finance-ministry tag-industry tag-industry-ministry tag-manufacturing wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The government is expanding its flagship industrial support program, with<\/strong><strong> the cabinet approving a broader second phase aimed at injecting fresh liquidity into the sector.<\/strong> Finance Minister Ahmed Kouchouk and Industry Minister Khaled Hashem announced in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02KEDt9qirRDkMsfByFAkc9PB6A8TiQzCBNXWrRDjTquFeEF9HmTMQN68PSZbuv2mKl\" style=\"\" rel=\"noopener\">joint statement<\/a> that the revamped initiative will now cover a wide range of industries, enabling factories to finance advanced machinery, equipment, and production lines.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A key change is the increase in borrowing ceilings to support larger-scale upgrades.<\/strong> The maximum financing limit for individual companies has been raised to EGP 100 mn, up from EGP 75 mn in the first phase, while related corporate groups can now access up to EGP 150 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Better performance = lower rates:<\/strong> Although the subsidized base interest rate <a target=\"_blank\" href=\"http:\/\/enterprise.news\/egypt\/en\/news\/story\/c07d0777-874d-4fe1-8888-26adfa703b02\/gov%25e2%2580%2599t-kicks-off-egp-30-bn-financing%253cmark%253e-initiative%253c%2Fmark%253e-for-industrial-players\" style=\"\" rel=\"noopener\">remains at 15%<\/a> \u2014 with the Finance Ministry covering the gap to market rates for five years \u2014 manufactures can secure lower rates by achieving higher local value-added ratios or introducing pioneer products that substitute high-volume imports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In line with the government\u2019s broader shift toward performance-based incentives, access<\/strong><strong> to subsidized credit will be tied to strict KPIs. <\/strong>Authorities will track increases in production capacity, actual output volumes, and the extent to which a firm fills a local market gap.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> By linking preferential financing to measurable gains in output, employment, and import substitution, the government is recasting industrial support as tools for competitiveness and integration into global value chains.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry-ministry\/\">Industry Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"684587 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=\"684587\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/01\/684587\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article 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text-center\">\r\n                    <div class=\"index-number\">6<\/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\/01\/guardian-glass-wants-to-cut-your-building-electricity-bill-by-nearly-half-with-glass-factory-planned-for-egypt\/\">\r\n                            Guardian Glass wants to cut your building electricity bill by nearly half                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/api.whatsapp.com\/send?text=Guardian+Glass+wants+to+cut+your+building+electricity+bill+by+nearly+half+with+glass+factory+planned+for+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F03%2F01%2Fguardian-glass-wants-to-cut-your-building-electricity-bill-by-nearly-half-with-glass-factory-planned-for-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/01\/guardian-glass-wants-to-cut-your-building-electricity-bill-by-nearly-half-with-glass-factory-planned-for-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/10.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"684589\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/01\/guardian-glass-wants-to-cut-your-building-electricity-bill-by-nearly-half-with-glass-factory-planned-for-egypt\/10-jpg-29\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/10.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"10.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/10.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/10.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-684588\" class=\"content-area-description single-story post-684588 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-earnings tag-enterpriseam tag-gb-corp tag-manufacturing tag-telecom-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p class=\"tag-border-left\">Guardian Glass to establish energy-efficient glass facility in Egypt<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>US-<\/strong><strong>b<\/strong><strong>ase<\/strong><strong>d <\/strong><strong>Guardian Glass<\/strong><strong> is set to establish a factory producing coated glass <\/strong><strong>engineered to cut building electricity<\/strong><strong> consumption by up to 40%<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0xeLXu3KXeKiuTuNuJdYmpCezZ8oy2VaYj1H7S42htVa6H6CZCX4TWk9T1yjzzfpSl\" style=\"\" rel=\"noopener\">statement<\/a> from the General Authority for Investment and Freezones. The plant set to open in June will produce low-emissivity glass that reflects indoor heat back into buildings during winter and blocks solar heat during summer with an eye to using the factory as an export hub to other African markets.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: <\/strong>Grade A office and retail developers in Egypt have long depended on imported high-performance glass, exposing them to FX volatility and long lead times. As the government moves toward stricter green building codes and continues to phase out electricity subsidies, energy-efficient buildings are becoming an important way for companies to reduce operating costs.<\/p><p class=\"tag-border-left\">Telecom Egypt rides data wave to EGP 22.6 bn profit<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Telecom Egypt\u2019s net income jumped <\/strong><strong>123%<\/strong><strong> y-o-y to EGP 22.6 bn<\/strong><strong> in 2025<\/strong>, supported by a 71% rise in income from Vodafone Egypt to EGP 14.8 bn following price adjustments rolled out throughout the year, according to its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/2\/1607.pdf\" style=\"\" rel=\"noopener\">earnings release (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/2\/1607.pdf\" style=\"\" rel=\"noopener\">pdf)<\/a>. Revenues climbed 31% y-o-y to EGP 106.7 bn, fueled largely by a 46% jump in data revenue, which contributed nearly 60% of the total top-line growth.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>During 4Q, net income nearly quadrupled from a year earlier to EGP 5.6 bn<\/strong>, while revenues grew 22% y-o-y to EGP 28.6 bn, as a 42% increase in retail revenue helped offset softer performance in the domestic and international carrier segments.<\/p><p class=\"tag-border-left\">GB Corp revenue saw revenues rise in 2025 on automotive market recovery<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GB Corp\u2019s bottom line was broadly flat in 2025<\/strong>, edging down 1.6% y-o-y to EGP 2.9 bn, as rising finance costs and higher provisioning across its segments offset solid operational growth, it said in its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/2\/1610.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. However, revenue was up 48.7% y-o-y to EGP 80.2 bn over the same period, supported by a rebound in the automotive market and sharp expansion in its financing arm, GB Capital.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The automotive division remained the main growth engine<\/strong>, with GB Auto revenues climbing 41% y-o-y to EGP 66.4 bn. Passenger car volumes in Egypt rose 34.5%, aided by FX stability and easing interest rates that lifted consumer demand. Meanwhile, GB Capital nearly doubled its revenues to EGP 14.7 bn, while advancing its funding diversification strategy. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>4Q performance was more pressured, <\/strong>with net income falling 59.7% y-o-y to EGP 457 mn, despite revenues rising 22.3% to EGP 22.7 bn. Profitability was weighed down by regional pressures in Iraq and Jordan, where parallel imports of Chinese vehicles squeezed margins, in addition to lower investment income from MNT-Halan amid hyperinflationary accounting in Turkey and the timing of securitization transactions.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-corp\/\">GB Corp<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecom-egypt\/\">Telecom Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"684590\" 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=\"684590\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/01\/capital-flows-pivot-to-emerging-markets\/\">\r\n                            Capital flows pivot to emerging markets                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/157.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"684591\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/01\/capital-flows-pivot-to-emerging-markets\/157-jpg-26\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/157.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"157.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/157.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/157.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-684590\" class=\"content-area-description single-story post-684590 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-emerging-markets tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Big money is leani<\/strong><strong>ng into emerging markets: <\/strong>From equities and currencies to local bonds and credit, the world\u2019s largest asset managers are dialing up exposure to emerging markets (EM), rotating away from the USD and developed-market debt as policy uncertainty clouds the US outlook, according to a Citigroup report picked up by <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-02-26\/world-s-biggest-money-managers-favor-emerging-markets-citi-says?taid=699fbcf37abc6e0001a5cb6e&amp;utm_campaign=trueanthem&amp;utm_content=business&amp;utm_medium=social&amp;utm_source=twitter\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The allocation shift is broad and deliberate: <\/strong>Asset managers overseeing more than USD 20 tn have been adding to long positions in equities across Asia, Latin America, and EMEA, while favoring emerging-market currencies over the greenback. In fixed income, EM debt ranks as their top duration call and carries the largest credit overweight. By contrast, US Treasuries, core European sovereigns, and US investment-grade bonds are widely underweight. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why now? <\/strong>The rotation reflects efforts to reduce exposure to US assets and the greenback in a climate of policy uncertainty and an ever-widening fiscal deficit. Tech jitters tied to artificial intelligence volatility rattled Wall Street this week, with Nvidia\u2019s latest sales forecast <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-02-25\/nvidia-s-rosy-revenue-forecast-shows-the-ai-boom-remains-strong\" style=\"\" rel=\"noopener\">failing to stoke confidence in investors<\/a>. Yet, hardware-heavy Asian markets have largely shrugged off the fears swarming the AI sector in development markets. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MSCI\u2019s main EM equity index has climbed to fresh record highs<\/strong>, with gains of 15% so far this year. EM currencies have advanced for five straight sessions to new peaks. EMs are also offering higher yields: fixed income, local-currency EM sovereigns have returned 2.2% YTD, according to a Bloomberg gauge, while similar USD-denominated sovereign debt lags at 1.7%.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the policy front<\/strong>, investors have pointed to improved policymaking across several EM economies, particularly on inflation control and debt management. However, even countries showing signs of fiscal strain are finding demand \u2014 Indonesia raised USD 4.5 bn last week in its largest global bond issuance in nearly 10 years.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite the rally, managers argue that positioning remains far from crowded. <\/strong>EM assets are still relatively cheap compared to developed peers, and global fund allocations to the sector remain light. <\/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><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\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>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\">49,213<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +17.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 47.86<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.00<\/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 47.90<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 48.00<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19.00% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.00% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,704<\/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: +2.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,454<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3% (YTD: +4.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6,504<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.8% (YTD: +7.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6,879<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +0.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,911<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +9.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6,138<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +6.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 72.87<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.86<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 5,248<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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 66,338<\/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\">+0.8% (YTD: -24.3%)<\/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>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\">19.86<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+6.6% (YTD: +32.8%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 rose 0.4% at <\/strong><strong>Thursday\u2019s <\/strong><strong>close<\/strong> on turnover of EGP 6.3 bn (0.9% below the 90-day average). Regional investors were the sole net buyers. The index is up 17.7% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Orascom Construction (+5.3%), Egypt Aluminum (+4.2%), and Raya Holding (+3.6%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Eastern Company (-4.2%), Qalaa Holdings (-2.2%), and Emaar Misr (-1.4%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/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<section id=\"684592\" 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\/01\/684592\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-684592\" class=\"content-area-description single-story post-684592 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>3 March (Tuesday): S&P Global to release PMI figures of February.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10 March (Tuesday): Capmas expected to release inflation data for February<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 March (Sunday): IMF to hold its seventh review of Egypt\u2019s USD 8 bn EFF arrangement.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 March: (Saturday): Eid El Fitr starts (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 March - 1 April (Monday-Wednesday): Egypt International Energy Conference and Exhibition (EGYPES).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">APRIL<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2 April (Thursday): Monetary Policy Committee\u2019s second meeting of 2026.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12 April (Sunday): Coptic Easter. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25 April (Saturday): Sinai Liberation Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 May (Friday): Labor Day. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 May (Thursday): Monetary Policy Committee\u2019s third meeting of 2026.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27-29 May (Wednesday-Friday): Eid El Adha (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE: <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 June (Tuesday): National holiday in observance of the June 30 Revolution (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">9 July (Thursday): Monetary Policy Committee\u2019s fourth meeting of 2026.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 July (Thursday): National holiday in observance of Revolution Day (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 August (Thursday): Monetary Policy Committee\u2019s fifth meeting of 2026.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 August (Wednesday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 September (Tuesday): IMF to hold its eighth review of Egypt\u2019s USD 8 bn EFF arrangement.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">24 September (Thursday): Monetary Policy Committee\u2019s sixth meeting of 2026. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>27-29 September (Sunday-Tuesday): Global Conference on Population, Health, and Human Development.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 October (Tuesday): Armed Forces Day. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29 October (Thursday): Monetary Policy Committee\u2019s seventh meeting of 2026.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17 December (Thursday): Monetary Policy Committee\u2019s eighth meeting of 2026.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Early 2026: Passenger operations on the New Administrative Capital-Nasr City monorail scheduled to begin.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Early 2026: The government will launch the second package of tax breaks. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2026: Trial operations for the Ain Sokhna-Sixth of October section of Egypt\u2019s first high-speed rail line scheduled to begin.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1Q 2026: Turkish President Recep Tayyip Erdogan to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/photo.php?fbid=1433492502154499&set=pb.100064812882317.-2207520000&type=3\" style=\"\">visit<\/a><\/span><span style=\"font-weight:400;\"> Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">May 2026: End of extension for developers on 15% interest rates for land installment payments.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2H 2026: Operations at Deli Glass Co\u2019s new USD 70 mn glassware factory kick off.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 January-7 February: Egypt to host the African Games.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>April 2027: Tenth of Ramadan <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8320d4df-e1a7-405e-be07-08e6590aff0e\/\" style=\"\">dry port and logistics hub<\/a><\/span><span style=\"font-weight:400;\"> to begin operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2027: Egypt to host EBRD\u2019s annual meetings.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2027: Egypt-EU Summit 2027.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">September 2028: First unit of the Dabaa nuclear power plant begins operations.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Gold soars as tension escalates | Flights canceled | Israel suspends gas exports.<\/p>\n","protected":false},"featured_media":684574,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-684573","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"09fa8b9f-b5da-45f0-9696-c516cff4495b","teaser":"Gold soars as tension escalates | Flights canceled | Israel suspends gas exports.","photo_url":"https:\/\/ent.news\/2026\/3\/12.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>What does the widening regional war mean for Egypt? - 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