{"id":685189,"date":"2026-02-11T00:00:00","date_gmt":"2026-02-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=685189"},"modified":"2026-03-05T11:57:08","modified_gmt":"2026-03-05T11:57:08","slug":"meet-the-new-cabinet","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/meet-the-new-cabinet\/","title":{"rendered":"Meet the new cabinet"},"content":{"rendered":"<section id=\"685191\" 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=\"685191\">\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\/02\/11\/gourmet-shares-hit-40-regulatory-limit-in-egx-debut\/\">\r\n                            Gourmet shares hit 40% regulatory limit in EGX debut                        <\/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\/02\/11\/gourmet-shares-hit-40-regulatory-limit-in-egx-debut\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n   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data-attachment-id=\"685192\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/gourmet-shares-hit-40-regulatory-limit-in-egx-debut\/787-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/1\/787.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"787.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/1\/787.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/1\/787.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-685191\" class=\"content-area-description single-story post-685191 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-capital-markets tag-egx tag-enterpriseam tag-gourmet 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<\/strong><strong> mornin<\/strong><strong>g, friends<\/strong>, we\u2019ve got quite an issue for you today. Leading the issue today \u2014 and setting the tone for government policy for the next few years \u2014 is a new cabinet sworn in. Unlike what many of us had been expecting, the cabinet economic team has been dramatically shaken up, with a whole host of new faces to head some of the most important ministries.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the capital markets front, Gourmet broke the IPO drought with a blockbuster EGX <\/strong><strong>debut<\/strong>, with its shares soaring the regulatory maximum of 40%. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The nation\u2019s disinflation story continued yesterday with annual urban inflation cooling <\/strong><strong>to its lowest level since September<\/strong>, undoubtedly emboldening the Central Bank of Egypt to pull the trigger on a rate cut tomorrow. This shift in the monetary cycle is already reverberating through the real estate sector, which we dive into in today\u2019s Hardhat.<\/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>We\u2019re hiring a technology reporter:<\/strong> EnterpriseAM is looking for a tech reporter to own the beat across Egypt, the UAE, Saudi Arabia, and beyond.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is a reporting job \u2014 not a desk job. <\/strong>You\u2019ll be working sources, breaking stories, and writing about trendlines (not just headlines) in our voice and with the authority our readers expect. AI and digital infrastructure are huge features of the beat, but our interests are broad: fintech, telecoms, regulation, SaaS, and the bajillion ways tech is reshaping how businesses operate across the region.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We want someone who can pick up the phone or WhatsApp<\/strong>, get people talking, and turn what they say into stories that senior decision-makers need to read. We also expect you to attend industry events and maintain relationships with PR folks across the industry without selling out. If you\u2019ve got 2-3 years of experience and the hunger to build a beat from the ground up, we want to hear from you. We\u2019re also interested in hearing from veteran reporters. Spoken Arabic is strongly preferred.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The role is based in Cairo<\/strong>, though we\u2019re open to remote for the right candidate. If you\u2019re reading EnterpriseAM, you know what we\u2019re about: A no-BS daily news outlet that tells busy execs, investors, founders, and ambitious people what they need to know about the trends shaping business, economy, finance, regulation, and public policy across our region. We write stories that have impact \u2014 about issues that matter \u2014 for a global audience of decision-makers.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Do we sound like the type of place where you want work?<\/strong> Send your CV and three clips to jobs@enterpriseamea.com. Also enclose a great cover letter that tells us who you are, what you do, and why you\u2019d be a great fit for this job.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">***<\/p><p class=\"tag-border-left\">From the bourse<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt3\"><\/a> <strong>Gourmet made its debut on the EGX yesterday, with shares hitting the 40% <\/strong><strong>regulatory limit<\/strong><strong> to close at EGP 9.66 a pop.<\/strong> The stock opened at its IPO price of EGP 6.90 \u2014 the top end of its indicative range \u2014 after a bookbuilding process that saw the private tranche 12.2x oversubscribed and the <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/05\/suez-canal-uncertainty-claims-its-first-major-infrastructure-casualty\/\" style=\"\" rel=\"noopener\">public tranche 55.8x oversubscribed<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is the first EGX listing of 2026, and it effectively breaks the IPO drought with a<\/strong><strong> high-quality private sector name. <\/strong>By hitting the 40% discovery-day limit, the market is signaling that EFG Hermes and B Investments priced the entry at a level that invited immediate secondary demand.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What's next?<\/strong> Starting today, the daily price limits will tighten from 40% back to the standard \u00b120%. The Price Stabilization Fund is now live for 30 days (until 11 March). EFG Hermes is obligated to maintain a buy order at the EGP 6.90 IPO price for the public tranche, essentially putting a floor under the stock for the first month.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND WHILE WE\u2019RE ON<\/strong><strong> THE TOPIC OF IPOs- <\/strong>El Ezaby Pharma could make its EGX debut next year, significant shareholder B Investments\u2019 Chairman Hazem Barakat told <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/companies\/118804\/%D8%B5%D9%8A%D8%AF%D9%84%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D8%B9%D8%B2%D8%A8%D9%8A-%D8%AA%D8%AA%D8%AC%D9%87-%D9%84%D9%84%D8%B7%D8%B1%D8%AD-%D9%81%D9%8A-%D8%A7%D9%84%D8%A8%D9%88%D8%B1%D8%B5%D8%A9-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AE%D9%84%D8%A7%D9%84-2027\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. It\u2019s still early days, with an offering manager still to be appointed and the stake size yet to be determined.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/omny.fm\/shows\/enterpriseam-egypt\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/780.jpg?ssl=1\"><\/a> <\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p class=\"tag-border-left\">Watch this space<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>ENERGY \u2014 Internation<\/strong><strong>al oil companies were told to double production by <\/strong><strong>2030, but the <\/strong><strong>economics don\u2019t stack up under current contracts<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/egypt-tells-international-oil-firms-double-output-by-2030-energean-ceo-says-2026-02-10\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing Energean CEO Nicolas Katcharov. The pricing framework that supported earlier development phases has \u201cexpired,\u201d making it harder for companies to justify new capital, especially at brownfield assets, Katcharov said. Domestic gas prices no longer reflect costs, he added, pointing to a wide gap with imported gas.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters:<\/strong> Output has fallen to its <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/28\/the-pharma-industry-is-renewing-its-push-for-a-10-price-hike-on-1k-products\/\" style=\"\" rel=\"noopener\">lowest level<\/a> since 2016, just as LNG imports and Israeli inflows have become structural in the energy mix. Brownfield expansions are a near-term fix that can stabilize supply without ballooning the import bill, but they require pricing that reflects the higher cost of squeezing gas out of aging reservoirs.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The state says it wants to fix the issue<\/strong>, having <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/28\/the-pharma-industry-is-renewing-its-push-for-a-10-price-hike-on-1k-products\/\" style=\"\" rel=\"noopener\">agreed<\/a> to increase the price it pays for domestically produced gas from five foreign partners by 30-50%, with deepwater fields set for the highest increases. If contract terms shift to better reflect the true cost of gas and arrears <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/03\/more-of-a-toll-booth-gas-hub-strategy\/\" style=\"\" rel=\"noopener\">drop<\/a>, investment could accelerate.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>CYBER SECURITY \u2014 No hack here, EgyptAir told EnterpriseAM <\/strong>in response to claims by a hacker that they are selling 104k stolen records from the state-owned airline\u2019s HR and recruitment databases, which was <a target=\"_blank\" href=\"https:\/\/x.com\/H4ckmanac\/status\/2020723750191120883\" style=\"\" rel=\"noopener\">reported<\/a> by cybersecurity intelligence firm Hackmanac. The leak allegedly included accounts and passwords, national ID details, personal details, and other documents.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EgyptAir told us no data breach or leak has been detected<\/strong>, and that no signs of a cyber attack have appeared on its system in connection with the files in question. The national flag carrier added that its HR and employee data is stored at its primary data center, which is \u201csubject to strict security procedures and systems implemented according to the highest protection standards adopted by the company\u201d with the support of a specialized cybersecurity firm.<\/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:\/\/enterpriseam.com\/egypt\/newsletters\/\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p><p class=\"tag-border-left\">Happening today<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s day one of Gitex Global\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.aieverythingegypt.com\/agenda?SeminarName=main-stage\" style=\"\" rel=\"noopener\">AI Everything Middle East &amp; Africa<\/a><\/strong><strong> summit at the Egypt <\/strong><strong>International Exhibition Center<\/strong>, which brings together startups, investors, and policymakers from more than 60 countries to explore investments and innovation in the AI sector. The two-day event will feature a ministerial AI policy summit, exhibitions, panel discussions, networking sessions, and a hackathon.<\/p><p class=\"tag-border-left\">Happening tomorrow<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Central Bank of <\/strong><strong>Egypt\u2019s Monetary Policy Committee will hold<\/strong><strong> its<\/strong><strong> first meeting of the year tomorrow<\/strong>, with yesterday\u2019s January inflation data strengthening expectations for further easing<strong>. <\/strong>We\u2019ve got more on inflation reaching its slowest pace since September in the newswell below.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The consensus among 11 analysts and economists <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/10\/majority-of-analysts-polled-by-enterpriseam-forecast-rate-cuts-citing-the-end-of-the-central-banks-crisis-management-phase\/\" style=\"\" rel=\"noopener\">polled by EnterpriseAM<\/a><\/strong><strong> is clear: the<\/strong><strong> country is ready to continue, if not accelerate, its easing cycle. <\/strong>Of the analysts we surveyed, nine are calling for an immediate reduction in the overnight deposit rate. Projections range from a cautious 100 bps to a more aggressive 200 bps, which would bring the deposit rate down from its current 21.00%.<\/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\">PSA<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You c<\/strong><strong>an now get your international driving license straight from Cairo<\/strong><strong> International Airport. <\/strong>The Automobile and Touring Club of Egypt inked a protocol with the Interior Ministry to expand the service to the airport, effective as of the end of last month, it said in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/photo\/?fbid=1416581446925272&amp;set=pcb.1416581483591935\" style=\"\" rel=\"noopener\">statement<\/a>. Licenses are being issued at Terminal 3 and the Air Mall shopping area.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Get your papers right: <\/strong>To apply, you\u2019ll need your original local driving license (held for at least one year) and a copy, two passport-style photos with a white background, and a valid national ID or passport along with a copy. You will also need to provide a completed application form and payment for the issuance fees.<\/p><hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- We will enjoy a cooler, more comfortable day in Cairo today<\/strong>, with a high of 23\u00b0C and a low of 14\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 a couple of degrees cooler still in Alexandria<\/strong>, with a high of 21\u00b0C and a low of 13\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>Recent Wall Street gainers have one thing in common \u2014 they are not tech: <\/strong>Amid <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/04\/egypt-tests-private-sector-appetite-for-affordable-housing-projects\/\" style=\"\" rel=\"noopener\">mounting<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/04\/egypt-tests-private-sector-appetite-for-affordable-housing-projects\/\" style=\"\" rel=\"noopener\">fears over AI advancements<\/a> superseding software firms, equities of formerly disfavored sectors <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/577b97f6-2416-48b9-9bd3-717bb202ca71\" style=\"\" rel=\"noopener\">have risen<\/a>, namely supermarkets, energy companies, and manufacturers. Investors have poured USD 62 bn into funds focused on non-tech stocks in recent weeks, outgrossing the USD 50 bn they attracted in the whole of 2025.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Brokerages were not spared: <\/strong>Major US brokerages were also hit by the selloff \u2014 Charles Schwab, Morgan Stanley, and Raymond James <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1c63983f-5ff0-4b70-ad55-7e4334f59422\" style=\"\" rel=\"noopener\">saw shares sharply drop<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- US retail figures lag, raise doubts over spending: <\/strong>US retail sales during the December holiday season <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-02-10\/us-retail-sales-unexpectedly-stagnated-to-close-holiday-season\" style=\"\" rel=\"noopener\">remained flat<\/a>, suggesting that consumers remain held back by high living costs and job market precariousness.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2503.jpg?ssl=1\"><\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> EnterpriseAM\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We look at how lower interest rates are beginning to break the gridlock in Egypt\u2019s mortgage market.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gourmet\/\">Gourmet<\/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=\"685193 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=\"685193\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/685193\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-685193\" class=\"content-area-description single-story post-685193 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\/685.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span>At Somabay, everything begins with connection. The quiet moments, the shared laughter, and the sense of belonging. This Valentine\u2019s Day, we celebrate the bonds that make life feel warmer and more meaningful; today and every day.<\/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=\"685194\" 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=\"685194\">\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\/02\/11\/egypt-shuffles-its-cabinet\/\">\r\n                            Cabinet shakeup complete: Here\u2019s what you need to know                        <\/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\/02\/11\/egypt-shuffles-its-cabinet\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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We dive into the most notable moves below.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>TL;DR: <\/strong>The shuffle introduces 13 new ministers to the cabinet and bids farewell to 11 others. Prime Minister Moustafa Madbouly will continue to head the cabinet, a post he has held for nearly eight years, becoming one of the longest-serving prime ministers in the country\u2019s history.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Among the biggest names keeping their positions is Ahmed Kouchouk<\/strong>, who has been heading the <strong>Finance Ministry<\/strong> since the 2024 cabinet shuffle. During the 18-month period that Kouchouk has been minister, tax reforms have taken the front seat. He introduced a hefty package of tax reforms, which has proven fruitful, pulling <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/04\/tax-facilitations-pull-egp-1-tn-into-the-formal-economy-says-kouchouk\/\" target=\"_blank\" rel=\"noopener\">over EGP 1 tn<\/a> into the formal economy.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>A new (old) face will take over the Investment Ministry: <\/strong>The Financial Regulatory Authority\u2019s <strong>Mohamed Farid <\/strong>(<a href=\"https:\/\/www.linkedin.com\/in\/mohamed-farid-saleh-97527246\/\" target=\"_blank\" rel=\"noopener\">LinkedIn<\/a>) is taking over the <strong>Investment and Foreign Trade Ministry <\/strong>from Hassan El Khatib, who helped revive the ministry when he joined the cabinet back in the 2024 shuffle. EnterpriseAM readers are well acquainted with Farid \u2014 he has headed the FRA since 2022, before which he led the EGX. It remains unclear who will replace Farid as head of the regulatory body.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>We also have a new Planning Minister: <\/strong><strong>Ahmed Rostom <\/strong>(<a href=\"https:\/\/www.linkedin.com\/in\/ahmed-rostom-62a1005\/\" target=\"_blank\" rel=\"noopener\">LinkedIn<\/a>) is taking over from Rania Al Mashat \u2014 the <strong>Ministry of Planning <\/strong>is now a standalone institution. Rostom joins cabinet after a 16-year run at the World Bank, most recently serving as senior financial sector specialist.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Ministerial housekeeping:<\/strong> <strong>The International Cooperation Ministry<\/strong> \u2014 formerly headed by Al Mashat \u2014 is merging with the <strong>Foreign Ministry<\/strong>, which remains under the leadership of <strong>Badr Abdelatty<\/strong>.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The Information Ministry made a comeback<\/strong>, after being dissolved in 2021, with head of the State Information Service\u2019s <strong>Diaa Rashwan<\/strong> at its helm.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Khaled Hashem<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/khaled-hashem-a0b51916\/\" target=\"_blank\" rel=\"noopener\">LinkedIn<\/a>) is appointed as <strong>Industry Minister<\/strong>, taking over the role formerly held by Kamel El Wazir. Hashem has spent almost a decade at US conglomerate Honeywell, most recently as Middle East and Africa head.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Speaking of El Wazir<\/strong>, he is staying on as <strong>Transport Minister<\/strong>, having his remit pared down to a single ministry only.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>ALSO- The Public Business Sector Ministry<\/strong>, headed by Mohamed Shimy, has been abolished. The portfolio moves to the Prime Minister\u2019s office, where it will remain until the updated State Ownership Policy document is finalized.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>El Sisi\u2019s core economic directives: <\/strong>The core pillars of the presidential <a href=\"https:\/\/www.facebook.com\/photo\/?fbid=1460444875444236&amp;set=pcb.1460430255445698\" target=\"_blank\" rel=\"noopener\">mandate issued<\/a> to the newly-reformed cabinet include national security and foreign policy, economic development, production, energy, food security, and human development.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The President has called on the economic team to prioritize reducing debt<\/strong>, especially as our IMF program nears its conclusion. This should coincide with the gradual increase of private-sector participation in the economy and exploration of new sectors, namely technology and rare minerals.<\/p>\n<p class=\"tag-border-left\">Who else is in the new cabinet?<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>OIL AND ENERGY RESOURCES- <\/strong>Karim Badawi keeps his position, which he has held since 2024.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>AGRICULTURE- <\/strong>Alaa Farouk keeps his position \u2014 he was first appointed in 2024.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>INTERIOR- <\/strong>Mahmoud Tawfik keeps his position, which he has held since 2018.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>JUSTICE- <\/strong>Mahmoud Helmi Al Sherif takes over from Adnan El Fangary. Al Sherif has held several positions within the ministry over the past years.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>HEALTH AND POPULATION- <\/strong>Khaled Abdel Ghaffar keeps his position. He assumed his role in 2021 after taking over from Hala Zayed.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>TOURISM- <\/strong>Sherif Fathy keeps his role, which he assumed in 2024. Fathy was the country\u2019s civil aviation minister between 2016 and 2018.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>ELECTRICITY- <\/strong>Mahmoud Esmat keeps his position. He has been Electricity Minister since 2024, after taking over from Mohamed Shaker. He was previously Public Enterprises Minister.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>SUPPLY AND INTERNAL TRADE- <\/strong>Sherif Farouk keeps his role, which he has held since 2024.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>IRRIGATION AND WATER RESOURCES- <\/strong>Hany Sewilam keeps his position. He was appointed in 2022.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>EDUCATION-<\/strong> Mohamed Abdellatif remains in the office he has held since 2024.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>HIGHER EDUCATION AND SCIENTIFIC RESEARCH- <\/strong>Abdelaziz Konsowa replaces Ayman Ashour. Konsowa was the president of Alexandria University.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>HOUSING- <\/strong>Randa Al Minshawi replaces Sherif El Sherbini. Al Minshawi was previously first assistant to the Prime Minister.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>DEFENSE- <\/strong>Gen. Ashraf Salem Mansour replaces Gen. Abdel Maguid Sakr.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>CIVIL AVIATION- <\/strong>Sameh Elhefny keeps his position.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>COMMUNICATION AND INFORMATION TECHNOLOGY- <\/strong>Raafat Hindi \u2014 former deputy minister \u2014 takes over from Amr Talaat.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>MILITARY PRODUCTION- <\/strong>Salah Suleiman succeeds Mohamed Salah Eldin Moustafa.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>CULTURE- <\/strong>Gihane Zaki replaces Ahmed Hanno. Zaki previously served as the head of the Grand Egyptian Museum.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>LABOR<\/strong><strong>- <\/strong>Hassan Raddad steps in to replace Mohamed Gobran.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>LOCAL DEVELOPMENT AND ENVIRONMENT-<\/strong> Manal Awad continues as Local Development Minister, a role she has held since 2024. She has been acting Environment Minister since mid-2025, when Yasmine Fouad left to join the UN.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>ENDOWMENTS- <\/strong>Usama Al Azhari keeps his role.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>SOCIAL SOLIDARITY- <\/strong>Maya Morsy remains in office.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>SPORTS AND YOUTH- <\/strong>Gohar Nabil is taking the post previously held by Ashraf Sobhy. Nabil is a former professional handball player.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>PARLIAMENTARY AFFAIRS- <\/strong>Hani Azer is taking up the post, as Mahmoud Fawzi steps down. Azer was previously deputy Justice Minister for Legislative Affairs.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cabinet-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-big-story-today\/\">THE BIG 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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=\"685197\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/egypts-inflation-eases-in-january-clearing-the-path-for-rate-cut-tomorrow\/\">\r\n                            Inflation eases in January, clearing the path for rate cut tomorrow                        <\/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 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         <\/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\/02\/11\/egypts-inflation-eases-in-january-clearing-the-path-for-rate-cut-tomorrow\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/2\/717.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"685198\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/egypts-inflation-eases-in-january-clearing-the-path-for-rate-cut-tomorrow\/717-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/2\/717.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"717.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/2\/717.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/2\/717.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-685197\" class=\"content-area-description single-story post-685197 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-capmas tag-economy tag-enterpriseam tag-inflation 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>Annua<\/strong><strong>l urban inflation<\/strong><strong> stood at 11.9% in January<\/strong>, marking its lowest level since September and a 0.4 percentage point drop from <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/11\/inflation-was-flat-in-december-does-that-set-up-the-next-rate-cut\/\" style=\"\" rel=\"noopener\">December<\/a>, according to data from state statistics agency Capmas. The reading gives us reason to believe the Central Bank of Egypt will move forward with a rate cut when its Monetary Policy Committee meets tomorrow to review rates.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The dip in the headline figure occurred despite an uptick in the prices of food and <\/strong><strong>beverages<\/strong>, which rose 1.9% y-o-y in January \u2014 the sharpest increase in six months \u2014 driven by a jump in vegetables, fruits, fish, and seafood prices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This pressure \u201cwas more than offset by weaker energy and core inflation<\/strong>,\u201d Capital Economics\u2019 James Swanston wrote in a note seen by EnterpriseAM. January\u2019s reading came in line with Capital Economics\u2019 forecast of 11.8% and LSEG\u2019s prediction of 11.7%, Swanston noted. Meanwhile, Al Ahly Pharos Head of Research Hany Genena told us that the reading was slightly above his forecast of 11.6% on average, \u201cwhich likely takes <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/10\/majority-of-analysts-polled-by-enterpriseam-forecast-rate-cuts-citing-the-end-of-the-central-banks-crisis-management-phase\/\" style=\"\" rel=\"noopener\">a deep 200 bps cut<\/a> off the table.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a monthly basis<\/strong>, inflation rose to 1.2% in January, up from 0.2% the month before, triggered by a 2.3% m-o-m increase in food and beverage prices, specifically a 6.9% m-o-m jump in vegetable prices. Other items in the basket of goods used to measure inflation saw little change in prices m-o-m.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What about core inflation? <\/strong>Annual core inflation \u2014 which excludes volatile items like food and fuel \u2014 fell to 11.2% y-o-y in January from 11.8% the month before, according to data from the Central Bank of Egypt. On a monthly basis, core inflation came in at 1.2%, up from 0.2% in December.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Don\u2019t rule out a rate cut just yet: <\/strong>Genena believes the CBE still has sufficient room to cut rates by 100 bps, stating that \u201call the underlying factors support this move.\u201d He cited continued deceleration, exchange rate stability, and the EGP\u2019s appreciation against the USD as key drivers that will moderate inflation in the months ahead, particularly for imported production inputs. CI Capital, too, has penciled in a 100 bps rate cut.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why a cut is logical:<\/strong> Genena argues that maintaining an unusually wide real interest rate buffer is \u201cno longer logical,\u201d especially given the government\u2019s decision to delay electricity and fuel price hikes and keep basic commodity prices unchanged. He further noted that the economy is entering a 10-11 month window with limited supply-side risks, aside from the early February cigarette price hike, which he expects will be \u201cabsorbed through base effects.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> As inflation concerns cool, the CBE is increasingly emboldened to push ahead with its easing cycle. For the government, the move is critical to providing the Finance Ministry with much-needed breathing room on its debt-service costs. For the private sector, it signals the definitive start of a lower-interest-rate environment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some believe the CBE may decide to stay cautious: <\/strong>\u201cWe believe the CBE might prefer to be more cautious for now,\u201d Thndr\u2019s Esraa Ahmed tells us, citing episodes of Brent price increases due to geopolitical risks, upward pressure on some prices, and a relatively slow net buying of domestic debt by foreigners in the secondary market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead, analysts expect headline inflation to continue its downward path toward <\/strong><strong>the CBE\u2019s target range of 7% (\u00b12%).<\/strong> Looking at the full year, Capital Economics sees room for 600 bps cuts through this year, while Genena is more optimistic, penciling in 600-800 bps of cuts, and Beltone\u2019s Ahmed Hafez sees room for 700 bps in cuts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capmas\/\">CAPMAS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n     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style=\"font-weight:400;\"><a href=\"https:\/\/www.grantthornton.eg\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2099.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"685201\" 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=\"685201\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/beltone-completes-eur-197-6-mn-pan-african-baobab-acquisition\/\">\r\n                            Beltone completes EUR 197.6 mn Pan-African Baobab acquisition                        <\/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\/02\/11\/beltone-completes-eur-197-6-mn-pan-african-baobab-acquisition\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n 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alt=\"\" data-attachment-id=\"685202\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/beltone-completes-eur-197-6-mn-pan-african-baobab-acquisition\/756-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/756.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"756.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/756.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/756.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-685201\" class=\"content-area-description single-story post-685201 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-baobab tag-beltone tag-enterpriseam tag-financial-services tag-ma-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Beltone<\/strong><strong> Holding completed its largest transaction to date with the EUR <\/strong><strong>197.6 mn acquisition of 100% of Baobab Group<\/strong> through its subsidiary Beltone Capital, the financial services provider said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/2\/693.pdf\" style=\"\" rel=\"noopener\">statement<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/2\/693.pdf\" style=\"\" rel=\"noopener\">yesterday<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/2\/693.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. The acquisition marks Beltone\u2019s first major cross-border expansion and sets the foundation for its evolution into a Pan-African financial services platform. The transaction came following a share purchase agreement in <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/02\/12\/beltone-capital-acquires-majority-stake-in-baobab-from-apis-partners\/\" style=\"\" rel=\"noopener\">February 2025<\/a> to acquire the stake from UK-based private equity firm Apis Partners.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The assets in question: <\/strong>Baobab is a leading financial service provider offering financial access to small African businesses and micro entrepreneurs. Baobab operates across seven African nations, including Senegal, the Ivory Coast, Madagascar, Burkina Faso, Mali, the Democratic Republic of Congo, and Nigeria. It serves approximately 1.6 mn customers, and manages a gross loan book of EUR 848.8 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Deployment of dry powder: <\/strong>The acquisition puts part of Beltone\u2019s recent capital raises to work. After lifting a combined EGP 21.4 bn through two capital increases in 2023 and <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/04\/14\/beltone-secures-egp-10-5-bn-in-blockbuster-capital-increase\/\" style=\"\" rel=\"noopener\">2025<\/a>, the company is deploying that liquidity beyond Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: <\/strong>Through a single transaction, Beltone gains an operational presence across some of the largest and fastest-growing African markets. Baobab brings immediate scale and infrastructure, with around 50% of its lending already disbursed digitally through automated credit-decision systems. By combining capital strength with a data-driven approach to lending, the group is <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/02\/03\/beltone-reports-exceptional-results-for-2024-with-bottom-line-up-almost-5x\/\" style=\"\" rel=\"noopener\">targeting underpenetrated credit markets<\/a> where access to finance remains structurally constrained and demand for scalable solutions is rising.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/baobab\/\">Baobab<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone\/\">Beltone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"685203 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=\"685203\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/685203\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-685203\" class=\"content-area-description single-story post-685203 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/264.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"685204\" 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=\"685204\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/a-eur-90-mn-eu-grant-is-coming-our-way-to-support-the-grid-and-renewable-energy-developments\/\">\r\n                            EU backs grid and renewables developments with EUR 90 mn grant                        <\/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\/02\/11\/a-eur-90-mn-eu-grant-is-coming-our-way-to-support-the-grid-and-renewable-energy-developments\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/a-eur-90-mn-eu-grant-is-coming-our-way-to-support-the-grid-and-renewable-energy-developments\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/a-eur-90-mn-eu-grant-is-coming-our-way-to-support-the-grid-and-renewable-energy-developments\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=A EUR 90 mn EU grant is coming our way to support the grid and renewable energy developments&url=https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/a-eur-90-mn-eu-grant-is-coming-our-way-to-support-the-grid-and-renewable-energy-developments\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/a-eur-90-mn-eu-grant-is-coming-our-way-to-support-the-grid-and-renewable-energy-developments\/&title=A EUR 90 mn EU grant is coming our way to support the grid and renewable energy developments\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=A+EUR+90+mn+EU+grant+is+coming+our+way+to+support+the+grid+and+renewable+energy+developments+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F02%2F11%2Fa-eur-90-mn-eu-grant-is-coming-our-way-to-support-the-grid-and-renewable-energy-developments%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\/02\/11\/a-eur-90-mn-eu-grant-is-coming-our-way-to-support-the-grid-and-renewable-energy-developments\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1623.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"685206\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/a-eur-90-mn-eu-grant-is-coming-our-way-to-support-the-grid-and-renewable-energy-developments\/1623-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1623.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1623.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1623.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1623.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-685204\" class=\"content-area-description single-story post-685204 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-development-finance tag-eastern-company tag-egypt-eu-relations tag-electricity tag-enterpriseam tag-madinet-masr tag-philip-morris tag-real-estate tag-renewables tag-scatec tag-tobacco 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\">\n<p class=\"tag-border-left\">The EU adds EUR 90 mn to the race to fix Egypt\u2019s grid<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A EUR 90 mn grant from the European Uni<\/strong><strong>on is coming our way to support <\/strong><strong>investments in the electricity grid and renewable energy development<\/strong>, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0GevWtNYgd14fuSDMuruNZwzVYNGMNJiZN2uwN25JE7AFHBDk3cq4WhzuRZeDkKrQl\" style=\"\" rel=\"noopener\">statement<\/a>. European backing has been one of our go-tos for grid support, with the European Bank for Reconstruction and Development <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/it-doesnt-matter-how-many-solar-and-wind-parks-you-build-if-the-grid-cant-handle-the-load\/\" style=\"\" rel=\"noopener\">committing<\/a> EUR 200 mn to support grid upgrades last year. Another EUR 35 mn grant was also inked for Scatec\u2019s green ammonia <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/03\/scatec-inks-ain-sokhna-green-hydrogen-pact-with-sfe-and-oc\/\" style=\"\" rel=\"noopener\">project<\/a> in Ain Sokhna.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters:<\/strong> The grid wasn\u2019t built for volatile wind and solar energy, risking large chunks of new capacity going unused. The Egyptian Electricity Transmission Company spent <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/1Bxe5wcYm7\/?mibextid=wwXIfr\" style=\"\" rel=\"noopener\">EGP 26.3 bn<\/a> upgrading the grid\u2019s infrastructure during the last fiscal year, and Investment Minister Hassan El Khatib has spoken about <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/it-doesnt-matter-how-many-solar-and-wind-parks-you-build-if-the-grid-cant-handle-the-load\/\" style=\"\" rel=\"noopener\">the need for USD 45 bn in distribution infrastructure investments<\/a> to integrate new clean capacity.<\/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\">Eastern Company, Philip Morris hike cigarette prices<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>State-owned <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.easternegypt.com\/?lang=en\" style=\"\" rel=\"noopener\">Eastern Company<\/a><\/strong><strong> approved a direct price increase across <\/strong><strong>several of its cigarette brands<\/strong>, with the new prices officially taking effect yesterday, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/2\/653.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a> to the EGX. Under the revised list, the prices of Cleopatra King Size, Cleopatra Soft Queen, Cleopatra Box, Cleopatra Super, and Mondial cigarettes were raised by around 9%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US tobacco giant Philip Morris also hiked prices by up to 8% for its cigarettes<\/strong><strong> and<\/strong><strong> heated tobacco products<\/strong> <strong>last week<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/2\/138.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The price of its higher-end smokes climbed as much as 6%, while its more affordable L&M brand saw an 8% increase along with its Terea heated tobacco range.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> Cigarette price hikes are rooted in a tax framework that treats tobacco as a dependable revenue source for the government, with excise duties and VAT forming a large share of retail prices and partially funding public health spending. The latest increases build on a July 2025 <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/el-sisi-ratifies-vat-law-amendments-eastern-company-hikes-cigarette-prices\/\" style=\"\" rel=\"noopener\">VAT law amendment<\/a> that expanded price brackets and allowed annual hikes of up to 12%. The Tax Authority leveraged this mechanism in October to impose a second <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/12\/vat-hike-on-cigarettes-coming-soon\/\" style=\"\" rel=\"noopener\">12% tobacco tax increase<\/a> this FY \u2014 reinforcing tobacco\u2019s role as a budget lever with limited demand fallout.<\/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\">Madinet Masr taps Al Shorouk Construction for EGP 4.8 bn Sarai build-out<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>M<\/strong><strong>adinet Masr<\/strong> <strong>signed a EGP 4.8 bn MoU with <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.alshorouk.com\/\" style=\"\" rel=\"noopener\">Al Shorouk Construction<\/a><\/strong> <strong> to <\/strong><strong>construct 81 residential buildings in the Elan phase of its Sarai project in East Cairo<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/2\/678.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from the developer. Delivery is expected by the end of 2027.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eastern-company\/\">Eastern Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-eu-relations\/\">Egypt-EU relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madinet-masr\/\">Madinet Masr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/philip-morris\/\">Philip Morris<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/scatec\/\">Scatec<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tobacco\/\">tobacco<\/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=\"685207\" 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=\"685207\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/chinas-treasury-trim-signals-balance-sheet-cleanup-not-a-break\/\">\r\n                            China tells its banks to rein in holdings of US Treasuries                        <\/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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           <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2210.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"685208\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/chinas-treasury-trim-signals-balance-sheet-cleanup-not-a-break\/2210-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2210.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2210.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2210.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2210.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-685207\" class=\"content-area-description single-story post-685207 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>It may sound like a geopolitical warning shot, but China\u2019s latest <\/strong><strong>directive to curb US debt holdings is better read as a risk-management exercise.<\/strong> Officials in Beijing have recently issued a verbal directive to major banks to limit purchases of US government bonds and trim existing holdings to reduce concentration risk, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-02-09\/china-urges-banks-to-limit-holdings-of-us-treasuries-citing-market-volatility?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. While the headlines echo past trade-war fears of coordinated \u201cdump the USD,\u201d insiders and economists say the move reflects balance-sheet housekeeping rather than geopolitical escalation.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is likely a cleanup operation, not a strategic exit<\/strong>, Council on Foreign Relations Senior Fellow Brad Setser told <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2026\/02\/10\/trump-tariffs-china-securities\" style=\"\" rel=\"noopener\">Axios<\/a>. Over the past two months, Chinese exporters sold roughly USD 100 bn per month to state-owned banks, which in turn parked much of that inflow in US Treasuries, creating a lopsided risk profile that Chinese regulators are now seeking to rebalance, Setser noted.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The move was framed around diversification rather than concerns over US <\/strong><strong>creditworthiness<\/strong>, helping explain the muted market reaction. Treasury yields ticked slightly higher, but volatility measures are setting near five-year lows, signaling limited investor alarm.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While commercial banks clean up their books, longer-term data point to a broader shift in <\/strong><strong>who holds America\u2019s debt.<\/strong> China\u2019s official Treasury holdings have fallen to USD 683 bn \u2014 their lowest level since 2008 \u2014 dropping the country to third place behind Japan and the UK.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But analysts say that this does not amount to a full retreat.<\/strong> Holdings in custodial accounts in Belgium \u2014 often seen as a proxy for Chinese holdings \u2014 have quadrupled since 2017 to USD 481 bn. At the same time, total foreign holdings of US treasuries climbed to a record USD 9.4 bn in November, underscoring continued global demand for USD assets.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The diplomatic backdrop reinforces the view that the financial directive is not a signal of <\/strong><strong>escalating hostilities.<\/strong> US Treasury staff were in China last week to strengthen communication channels ahead of a planned meeting between US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/bessent-says-senior-treasury-staff-visited-china-last-week-2026-02-10\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Those talks are setting the stage for a potential summit between Donald Trump and Xi Jinping in Beijing as early as April.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p><p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Markets <\/strong><strong>this morning are reacting to US retail sales figures<\/strong>, which came in lower than expected. Meanwhile, Asia-Pacific markets appear to be nearing the end of their almost-weeklong rally triggered by Japan\u2019s election, posting softer gains in early trading this morning. The Nikkei is closed today as Japan celebrates National Foundation Day.<\/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\">50,376<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +20.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 46.80<\/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 46.92<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB<\/strong><strong>) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 46.82<\/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 46.92<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.00% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">21.00% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,214<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +6.9%)<\/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>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\">10,651<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +6.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">6,772<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +12.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">6,942<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +1.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">10,354<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +4.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">6,047<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +4.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 69.08<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.15<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 5,045<\/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\">-0.7%<\/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>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 68,641<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.5% (YTD: -21.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,020<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +2.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">152.1<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +0.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>VIX (Volatility Index)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">17.79<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.5% (YTD: +19.5%)<\/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 0.2% at <\/strong><strong>yesterday\u2019s<\/strong><strong> close<\/strong> on turnover of EGP 8.4 bn (43.2% above the 90-day average). International investors were the sole net sellers. The index is up 20.4% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Heliopolis Housing (+3.9%), Telecom Egypt (+2.2%), and EFG Holding (+2.0%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Edita (-2.3%), Ibnsina Pharma (-2.0%), and Qalaa Holdings (-1.5%).<\/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\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"685209\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">7<\/div>\r\n    \r\n                        <p class=\"f-graphik\">HARDHAT<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/lower-interest-rates-are-beginning-to-break-the-gridlock-in-egypts-mortgage-market\/\"> \r\n                            Bricks beat banks as interest rates retreat<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/lower-interest-rates-are-beginning-to-break-the-gridlock-in-egypts-mortgage-market\/\" 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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With 725 bps of rate cuts having already taken place in 2025, the industry is thinking hard about how cheaper loans will fundamentally change the way property is sold, financed, and held in Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The most immediate impact of the rate-cutting cycle has been the cost of debt.<\/strong> For years, the mortgage market in Egypt has been effectively paralyzed by corridor rates that made traditional borrowing a non-starter for most households. But \u201cwhen interest rates drop, bank loans become cheaper,\u201d Uptown 6 October CEO Moataz Sharawy explained to EnterpriseAM, which means \u201cthose who were waiting or unable to buy due to high installments will now find it easier and more affordable.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cheaper financing turns \u201cdeferred demand to actual demand<\/strong>,\u201d Housing and Development Properties Vice Chairman Amjad Hassanein tells us. When rates drop, the total interest burden over a 10- or 15-year tenor shrinks significantly, meaning that \u201cevery 1% cut in interest is followed by a tangible expansion in the base of customers eligible for long-term loans,\u201d he added. The impact of interest rates is sizable, with Hassanien describing them as \u201cthe biggest driver of purchasing power in the real estate market.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Real estate to replace CDs as the investment vehicle of choice<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For the past two years, the Egyptian real estate market acted as a defensive hedge <\/strong><strong>against currency volatility. <\/strong>But now, as interest rates on bank certificates of deposit (CDs) have dropped from 25%+ toward the mid-teens, tns of EGP in maturing certificates are looking for a new home \u2014 excuse the pun.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cWhen bank interest on certificates and deposits drops, people look for something else <\/strong><strong>to put their money in that brings a better return\u201d \u2014 and the obvious choice is real estate<\/strong>, Sharawy tells us. Sharawy pointed to real estate not only as a store of value that protects against inflation but also as an asset that can generate a fixed return in the form of rent.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cLower interest rates do more than just lower the cost of a loan \u2014 they signal a shift<\/strong>,\u201d Misr Italia Properties (MIP) tells EnterpriseAM. As bank yields decline, the total return on property \u2014 the combination of rental yield and capital appreciation \u2014 is starting to outperform fixed-income instruments for the first time since the 2024 devaluation. Hassanien tells us his company expects this will lead to \u201ca major migration wave of liquidity toward the real estate sector.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">The start of a proper mortgage industry?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Perhaps the most significant shift for 2026 is the re-entry of the banking sector into the <\/strong><strong>primary residential market.<\/strong> Historically, Egyptian developers were forced to act as banks, carrying eight- to 10-year installment plans on their own balance sheets because mortgage rates were prohibitive. \u201cThis was a necessity, not a choice,\u201d MIP tells us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As rates normalize toward the mid-teens, the burden of financing is shifting back to <\/strong><strong>formal mortgage products.<\/strong> \u201cWe are seeing banks introduce step-up mortgages and longer tenors,\u201d MIP tells us. This allows developers to de-risk their balance sheets and recycle liquidity into construction speed rather than long-term credit management.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The move also aligns with the state\u2019s push to \u201cexpand the ownership base<\/strong> and enhance the role of mortgages as a primary tool for activating the market,\u201c Mountain View tells us.<\/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\">Faster completions, stalled-project restarts, and increased competition<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lower rates don't just help buyers \u2014 they stabilize the supply chain. <\/strong>\u201cWhen interest rates drop, the cost of the loan for [developers] decreases, which gives them more money to work with, complete projects faster, and launch new ones,\u201d Sharawy explained. Mountain View similarly pointed to how a \u201clower-cost financing environment contributes to raising the efficiency of the sector and increasing developers' ability to develop new projects, with a direct impact on the quality and speed of execution.\u201d For the buyer, this means the gap between the first installment and the key-handover should, in theory, begin to shrink.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The high-rate era left a trail of stalled projects <\/strong>\u2014 developments that were no longer feasible because their financing models collapsed under 25%+ interest. But as rates get lower, \u201cproject owners will be able to take new loans with better terms and complete the work that was stopped,\u201d Sharawy tells us. The restarting of projects will also be helped by \u201cgovernment-backed solutions addressing land fee disputes and execution delays,\u201d MIP said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A lower cost of entry also invites competition. <\/strong>The market in 2024 saw a \u201cconsolidation toward quality,\u201d MIP tells us, where only the most well-capitalized players survived. As financing becomes more accessible, \u201ccompetition will increase, which means more options and better quality for the buyer,\u201d Sharawy said. But while this increases options for buyers, it also places a premium on due diligence \u2014 as the market expands, the gap between institutional-grade developers and speculative players will widen.<\/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 return of the middle classes to the market<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While the luxury segment captures the headlines, the real shift is happening in the <\/strong><strong>middle- and upper-middle-income bracket. <\/strong>\u201cThe people who will benefit most are middle-income earners,\u201d Sharawy tells us, explaining that \u201cany reduction in the monthly installment makes a huge difference for them and helps them make the purchasing decision.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The impact has already been observed<\/strong>, with MIP telling EnterpriseAM that \u201cwe are seeing a resurgence in the middle-income segment of young professionals and growing families who view the current rate environment as a window before the next cycle of price appreciation.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Talk of an incoming fall in property prices may be just that \u2014 talk<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expectations of a price crash are misplaced.<\/strong> In 2023 and 2024, price spikes of 30-40% were defensive reactions to currency volatility, the developers we spoke to told us. In 2026, we are entering a phase of price rationalization. While prices will continue to rise, the growth will be more natural and healthy, driven by actual demand for housing rather than speculation, we were told.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cIn the short term, we may not witness a direct decrease in unit prices <\/strong>due to building material cost pressures, but the rate cut will act as a brake on violent price increases,\u201d Hassanien said. Mountain View similarly told us how lower rates and more favorable financing help the \u201cmarket absorb current prices more smoothly and create a more stable pricing environment without the need for sharp increases or pricing pressure resulting from high financing costs.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Putting a lid on major price decreases is the fact that \u201cthe pricing of real estate units is <\/strong><strong>determined by a wide range of variables<\/strong>, including construction cost, currency price, construction cycle, and the nature of demand, and not by interest alone,\u201d Mountain View said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lower interest rates also flip the rent vs. buy calculation.<\/strong> \u201cWhen ownership becomes easier and cheaper, many people who were renting will prefer to buy and own,\u201d Sharawy tells us. As ownership becomes cheaper via more affordable financing, we may even see a slight cooling in the rental market for middle-income housing as tenants transition into owners, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hardhat\/\">Hardhat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/monetary-policy\/\">monetary policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"685211\" 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=\"685211\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/the-uae-is-allegedly-using-ethiopia-as-a-rear-base-to-train-sudanese-rebels\/\">\r\n                            The UAE-Ethiopia-RSF Nexus, per Reuters                        <\/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\/02\/11\/the-uae-is-allegedly-using-ethiopia-as-a-rear-base-to-train-sudanese-rebels\/\" 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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Satellite imagery and diplomatic cables reveal that the camp began expanding rapidly in October. It now houses over 4k recruits, with drone infrastructure also appearing at the nearby Asosa airport that was also reportedly funded by the UAE.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-affairs\/\">foreign affairs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/on-your-way-out\/\">ON YOUR WAY OUT<\/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=\"685212\" 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\/02\/11\/685212\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-685212\" class=\"content-area-description single-story post-685212 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\">FEBRUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-12 February (Wednesday-Thursday): Gitex Global\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/share\/p\/1QkF8DUZBj\/\" style=\"\">AI Everything Middle East & Africa<\/a><\/span><span style=\"font-weight:400;\"> Summit.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12 February (Thursday): Monetary Policy Committee\u2019s first meeting 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;\">19 February (Thursday): First day of Ramadan (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MARCH<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 March (Sunday): IMF to hold its seventh review of Egypt\u2019s USD 8 bn EFF arrangement.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 March: (Saturday): Eid El Fitr starts (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 March - 1 April (Monday-Wednesday): Egypt International Energy Conference and Exhibition (EGYPES).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">APRIL<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2 April (Thursday): Monetary Policy Committee\u2019s second meeting of 2026.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12 April (Sunday): Coptic Easter. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25 April (Saturday): Sinai Liberation Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 May (Friday): Labor Day. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 May (Thursday): Monetary Policy Committee\u2019s third meeting of 2026.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27-29 May (Wednesday-Friday): Eid El Adha (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE: <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 June (Tuesday): National holiday in observance of the June 30 Revolution (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">9 July (Thursday): Monetary Policy Committee\u2019s fourth meeting of 2026.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 July (Thursday): National holiday in observance of Revolution Day (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 August (Thursday): Monetary Policy Committee\u2019s fifth meeting of 2026.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 August (Wednesday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 September (Tuesday): IMF to hold its eighth review of Egypt\u2019s USD 8 bn EFF arrangement.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">24 September (Thursday): Monetary Policy Committee\u2019s sixth meeting of 2026. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>27-29 September (Sunday-Tuesday): Global Conference on Population, Health, and Human Development.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 October (Tuesday): Armed Forces Day. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29 October (Thursday): Monetary Policy Committee\u2019s seventh meeting of 2026.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17 December (Thursday): Monetary Policy Committee\u2019s eighth meeting of 2026.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Early 2026: Passenger operations on the New Administrative Capital-Nasr City monorail scheduled to begin.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Early 2026: The government will launch the second package of tax breaks. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2026: Trial operations for the Ain Sokhna-Sixth of October section of Egypt\u2019s first high-speed rail line scheduled to begin.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1Q 2026: Turkish President Recep Tayyip Erdogan to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/photo.php?fbid=1433492502154499&set=pb.100064812882317.-2207520000&type=3\" style=\"\">visit<\/a><\/span><span style=\"font-weight:400;\"> Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">May 2026: End of extension for developers on 15% interest rates for land installment payments.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2H 2026: Operations at Deli Glass Co\u2019s new USD 70 mn glassware factory kick off.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 January-7 February: Egypt to host the African Games.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>April 2027: Tenth of Ramadan <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8320d4df-e1a7-405e-be07-08e6590aff0e\/\" style=\"\">dry port and logistics hub<\/a><\/span><span style=\"font-weight:400;\"> to begin operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2027: Egypt to host EBRD\u2019s annual meetings.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2027: Egypt-EU Summit 2027.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">September 2028: First unit of the Dabaa nuclear power plant begins operations.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Inflation at lows not seen since September | EU backs grid development | Bricks beat banks as interest rates retreat<\/p>\n","protected":false},"featured_media":685190,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-685189","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"cb188460-352f-4af5-ad0e-316425a54a1e","teaser":"Inflation at lows not seen since September | EU backs grid development | Bricks beat banks as interest rates retreat","photo_url":"https:\/\/ent.news\/2025\/2\/544.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>Meet the new cabinet - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/meet-the-new-cabinet\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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