{"id":695406,"date":"2026-04-22T00:00:00","date_gmt":"2026-04-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=695406"},"modified":"2026-04-22T03:42:01","modified_gmt":"2026-04-22T03:42:01","slug":"nbe-bm-hike-rates-on-cds-what-does-this-mean","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/nbe-bm-hike-rates-on-cds-what-does-this-mean\/","title":{"rendered":"NBE, BM hike rates on CDs \u2014 what does this mean?"},"content":{"rendered":"<section id=\"695408\" 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=\"695408\">\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\u2019RE TRACKING TODAY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/22\/egypts-pm-signals-hes-going-to-hold-the-line-on-economic-reforms-despite-fallout-from-the-war-in-the-gulf\/\">\r\n                            Madbouly\u2019s economic address to the House was about policy continuity                        <\/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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status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today-10 tag-enterpriseam tag-house-of-representatives tag-legislation tag-legislation-watch tag-oil-and-gas tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people. <\/strong>We\u2019re doing a lot of \u201creading of coffee grounds\u201d this morning on what is otherwise a fairly milquetoast news day: The economy took center stage as the PM addressed parliament yesterday \u2014 and the two biggest banks in the land unexpectedly hiked interest rates on three-year certificates of deposit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">  <a id=\"wwtt1\"><\/a> <strong>Up first: Prime Minister Mostafa Madbouly addressed the House of <\/strong><strong>Representatives yesterday<\/strong> on the fallout from the conflict in Iran, which continues to weigh on economies across the region. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Madbouly\u2019s message was one part reality check, one part greatest hits, and two parts <\/strong><strong>repackaging: <\/strong>On the reality check side of the house, he signaled that Cabinet is bracing for what could be an \u201cextended crisis,\u201d warning that the economic impact of the war in the Gulf is \u201clikely to persist at least until the end of this year\u201d even if the conflict were to end soon. It\u2019s not what any of us wanted to hear, but it\u2019s refreshing that the views of the private sector and of the state are roughly in sync \u2014 with each other, and with reality.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s costing a heck of a lot more to generate power<\/strong>, the PM noted, and tourism is taking a hit. The fiscal toll of the war, he said, has been heavy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The greatest hits, part 1: <\/strong>The PM took something of a quiet victory lap, pointing out that the economy\u2019s resilience in the face of the crisis \u2014 the EGP serving as a shock absorber, an inflation-targeting monetary policy, record reserves, etc., etc. \u2014 are the result of tough economic reforms on which his government has stayed the course. Expect more of the same, Madbouly suggested. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The greatest hits, part 2: <\/strong>The Oil Ministry\u2019s 18-month-long campaign to re-engage with Big Oil also got a nod, with Madbouly telling MPs that we\u2019ll have fully settled by June the arrears we owe international oil companies. He suggested there will be \u201cmore positive news\u201d from the industry soon, signaling that energy security could get a welcome bump as new assets come into production. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The repackaging: <\/strong>The PM framed long-term trends and already-locked-in budget decisions as being key elements of his government\u2019s response to the crisis: <\/p>\n<ul>\n<li><strong>The government will buy more wheat this harvest season<\/strong>, he said \u2014 that was always the plan. The only \u2018new\u2019 bit is that the state will be paying farmers a bit faster.<\/li>\n<li><strong>Renewable energy will be 45% of our energy mix by 2028<\/strong> \u2014 an existing target toward which private producers and the state have been working for years, including the 2.5 GW of renewables and nearly 1 GW of battery storage that the PM highlighted will come online in 2026.<\/li>\n<li><strong>The state is spending more on health and education<\/strong> \u2014 these have been policy priorities for years, and the earmarks for 2026-2027 aren\u2019t growing out-of-step with the trend.<\/li>\n<li><strong>The state will continue investing in public projects<\/strong> \u2014 again, the sums he\u2019s discussing are entirely within trend. There\u2019s no ramp-up in spending, no new counter-cyclical investment cycle kicking off here.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO IN THE HOUSE yesterday: MPs <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.parliament.gov.eg\/News_Show.aspx?frm=5744\" style=\"\">gave preliminary approval<\/a><\/strong><strong> to amendments to the <\/strong><strong>Competition Law. <\/strong>If passed, the amendments will give the Egyptian Competition Authority the right to levy penalties directly, without the need to launch traditional criminal proceedings, and will place stricter oversight of mergers and acquisitions, with harsher penalties for violations affecting freedom of competition. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/omny.fm\/shows\/enterpriseam-egypt\" style=\"\">WISH THIS MORNING\u2019S ISSUE was a podcast? We\u2019ve got you. Tap or click here<\/a><\/strong> to listen to Morning Drive, a 10-minute version of today\u2019s issue crafted for you to enjoy with your morning coffee, while getting the kids ready for school, <strong>or while stomping around the house wondering where the [redacted] you left your [redacted] reading glasses.<\/strong><strong>***<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Natural gas prices double<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a><strong> Fertilizer producers are now paying nearly double for natural <\/strong><strong>gas<\/strong><strong> compared to their <\/strong><strong>March tab.<\/strong> Producers are being billed USD 9-10 per mm British thermal units (BTu) in the second half of April \u2014 up from USD 8.5 in the first half of the month, an industry insider tells EnterpriseAM. This represents a nearly 81% increase compared to <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/inside_industry\/gas-price-hikes-to-have-uneven-impact-across-industry\/\" style=\"\">USD 5.5 per mmBtu<\/a> in March prior to the war-linked supply shocks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cIf global prices rise and a company\u2019s export quota increases, that means the gas price supplied to it will also increase,\u201d<\/strong> the source said, referring to the exit of key regional exporters including Saudi Arabia, Qatar, and the UAE from the market, along with China\u2019s suspension of exports to US markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>The shift follows a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/31\/egypt-moves-to-link-fertilizer-feedstock-costs-to-international-gas-prices\/\" style=\"\">pricing mechanism<\/a> introduced in March tying gas costs directly to global urea prices \u2014 effectively wiring domestic input costs to export markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The trigger is external: <\/strong>Export urea prices have more than doubled this week to USD 880-890 per ton from some USD 420 before the end of February, driven by war-linked supply shocks tied to <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/inside_industry\/egypt-manages-dual-food-and-fertilizer-crisis-as-hormuz-storm-hits\/\" style=\"\">disruptions around Hormuz<\/a>. That is a 110% jump feeding straight into Egypt\u2019s new pricing formula.<\/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\">Data point<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EGP 2.4 tn \u2014 that\u2019s the projected level of i<\/strong><strong>nterest payments in the<\/strong><strong> FY <\/strong><strong>2026-27 budget<\/strong>, up from EGP 2.29 tn in the current fiscal year, a 5.3% increase, according to the budget document seen by EnterpriseAM. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, debt service is expected to eat up 46% of total expenditures<\/strong>, down from 50% in the current fiscal year, while its share of projected tax revenues is set to decline to 68% from 82%, supported by expected growth in tax revenues to <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/16\/finmin-targets-a-28-jump-in-tax-revenues-for-fy-2026-27\/\" style=\"\">EGP 3.5 tn<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The Finance Ministry is leaning on its public <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/07\/govt-expects-financing-gap-to-shrink-to-egp-2-7-tn-in-fy-2026-27-despite-regional-volatility\/\" style=\"\">debt strategy<\/a> to extend debt maturities to between 2.5-3 years, which should help reduce the overall interest burden on the budget over time.<\/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\">PSA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>It\u2019s another spring day in Cairo, with the capital looking at a sunny high of 27\u00b0C and a cool low of 17\u00b0C, according to our favorite weather app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s more or less the same in Alexandria<\/strong>, with a high of 25\u00b0C and a low of 15\u00b0C.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/sub.ent.news\/menaplus\/\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1023.jpg?ssl=1\"\/><\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meet EnterpriseAM MENA+, our new flagship newsletter<\/strong> covering the flows of capital, people, and ideas across the Middle East \u2014 and beyond it.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MENA+ covers AI and tech \u2014 and geopolitics, the war for talent<\/strong>, which BSD is on top (and who's gunning for them), the changing energy economy, new corridors to India and China, and much, much more.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s with the \u201c+\u201d in MENA+? <\/strong>We think one of the most powerful stories in the region is the *export* of ideas and capital not just to neighboring regions (Asia, the Stans) but to international financial centers. MENA countries are jockeying for position in the new global economy now taking shape, and we're going to shape that conversation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/sub.ent.news\/menaplus\/\" style=\"\">Tap or click here to get your own copy<\/a><\/strong> delivered to your inbox every Monday, Wednesday, and Friday at 12pm UAE | 11am KSA | 10am Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">The big story abroad<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a><strong>Th<\/strong><strong>e US-Iran ceasefire wil<\/strong><strong>l continue until \u201cdiscussions are concluded,\u201d<\/strong> US President Donald Trump said on <a target=\"_blank\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/116444507618729432\" style=\"\">Truth Social<\/a>. The move \u2014 made hours before the truce was set to expire \u2014 was prompted by diplomatic efforts by Pakistan and a lack of a \u201cunified proposal\u201d by Iran\u2019s government, Trump said. Washington\u2019s blockade will continue until an agreement is reached. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the absence of a response from Tehran\u2019s top leadership<\/strong>, Iran\u2019s Tasnim News Agency <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/us-positive-iran-deal-talks-still-uncertain-ceasefire-end-nears-2026-04-21\/\" style=\"\">stated<\/a> that Tehran never sought a ceasefire extension and reiterated threats to break the US blockade by force. An adviser to Iran\u2019s lead negotiator dismissed Trump\u2019s announcement as insignificant.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As expected, global oil prices <\/strong><strong>retreated<\/strong><strong> on the news<\/strong>, despite an initial uptick at the opening of Asian trading earlier this morning. Brent crude is currently down 0.4% to USD 98.09 per barrel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mixed market response:<\/strong> The MSCI Asia Pacific ex-Japan Index <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/global-markets-global-markets-2026-04-22\/\" style=\"\">eased<\/a> 0.14%, dropping from a seven-week high. Japan\u2019s Nikkei gained 0.5%, and South Korea\u2019s Kospi eased around 0.6% in early trading this morning. US stocks are set to open in the green, with futures recording gains across the board.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How did Warsh\u2019s confirmation hearing go? <\/strong>Trump\u2019s Fed chair nominee Kevin Warsh <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d6267707-4033-4360-b4bf-e01e439a5528?syn-25a6b1a6=1\" style=\"\">affirmed<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d6267707-4033-4360-b4bf-e01e439a5528?syn-25a6b1a6=1\" style=\"\">the Fed\u2019s<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d6267707-4033-4360-b4bf-e01e439a5528?syn-25a6b1a6=1\" style=\"\">independence<\/a> during his Senate confirmation hearing, stating that Trump has not attempted to \u201cpredetermine, commit, fix or decide on any interest rate decision.\u201d Warsh <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/live\/cn8dn818y46t\" style=\"\">called for<\/a> major reforms at the Fed, including a new framework for handling inflation, and <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/c8dl3ez4mpno\" style=\"\">took issue<\/a> with the central bank\u2019s \u201cforward guidance\u201d \u2014 the practice of signaling the future trajectory of rates. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And your daily dose of AI news: <\/strong>SpaceX has <a target=\"_blank\" href=\"https:\/\/x.com\/SpaceX\/status\/2046713419978453374\" style=\"\">gained<\/a> the \u201cright to acquire\u201d AI startup <a target=\"_blank\" href=\"https:\/\/cursor.com\/\" style=\"\">Cursor<\/a> for USD 60 bn, agreeing to pay USD 10 bn if it does not proceed with the transaction. The potential acquisition of Cursor \u2014 which enables users to edit code with AI \u2014 is seen as a way for Elon Musk to catch up in the AI race ahead of SpaceX\u2019s IPO.<\/p>\n<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>\n<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 on all things infrastructure in Egypt:<\/strong> EnterpriseAM\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, to urban development, as well as social infrastructure such as health and education. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We take a deep dive into how the government is adding cybersecurity to our national borders, mandating strict testing on imported hardware and physically isolating the networks that run critical utilities.<\/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\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"695410 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=\"695410\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/22\/695410\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-695410\" class=\"content-area-description single-story post-695410 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.thetrifactory.com\/SomabayEnduranceFestival2026\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/987.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:400;\">From 7\u20139 May, the Somabay Endurance Festival returns to the Red Sea for Egypt\u2019s leading multi-sport challenge, where swimming, cycling, and running meet one of the region\u2019s most iconic coastal destinations.<\/span><\/p>\n<p><span style=\"font-weight:400;\">This year also introduces a new racing venue and enhanced endurance course experience, elevating the competition and athlete journey even further.<\/span><\/p>\n<p><span>In partnership with The TriFactory, Somabay continues to lead the way in sports tourism, active lifestyle experiences, and world-class events. Register <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.thetrifactory.com\/SomabayEnduranceFestival2026\" style=\"\">here<\/a><\/span><span>.<\/span><\/p>\n<\/div>\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=\"695411\" 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=\"695411\">\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\/04\/22\/the-national-bank-of-egypt-and-banque-misr-just-hiked-rates-on-cds-moves-that-could-see-the-egp-gain-against-the-usd\/\">\r\n                            NBE, Banque Misr just hiked rates on CDs \u2014 what does it mean?                        <\/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\/04\/22\/the-national-bank-of-egypt-and-banque-misr-just-hiked-rates-on-cds-moves-that-could-see-the-egp-gain-against-the-usd\/\" target=\"_blank\">\n                    Open in new tab                    <!-- 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          <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The National Bank of Egypt and Banque Misr just hiked rates on CDs \u2014 moves that could see the EGP gain against the USD&url=https:\/\/enterpriseam.com\/egypt\/2026\/04\/22\/the-national-bank-of-egypt-and-banque-misr-just-hiked-rates-on-cds-moves-that-could-see-the-egp-gain-against-the-usd\/\">\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\/04\/22\/the-national-bank-of-egypt-and-banque-misr-just-hiked-rates-on-cds-moves-that-could-see-the-egp-gain-against-the-usd\/&title=The National Bank of Egypt and 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data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/837.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/10\/837.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-695411\" class=\"content-area-description single-story post-695411 post type-post status-publish format-standard has-post-thumbnail hentry category-the-big-story-today tag-banking tag-banque-misr tag-central-bank-of-egypt tag-enterpriseam tag-national-bank-of-egypt tag-the-big-story-today 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>NBE, Banque Misr<\/strong><strong> hike rates on CDs: <\/strong>In an unexpected move, the <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/NBE1898\/posts\/pfbid02h8ur77CavuDdZok3FUq5QxMeyGvDjWBsTu8Z3NaVUprCHChugnfAU9VXDDKDeyjVl\" style=\"\">National<\/a><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/NBE1898\/posts\/pfbid02h8ur77CavuDdZok3FUq5QxMeyGvDjWBsTu8Z3NaVUprCHChugnfAU9VXDDKDeyjVl\" style=\"\">Bank of Egypt<\/a> (NBE) and <a target=\"_blank\" href=\"https:\/\/www.banquemisr.com\/ar-EG\/ABOUT-US\/News\/qemma-article\" style=\"\">Banque Misr<\/a> (BM) raised the interest rates they\u2019re offering on three-year fixed-interest certificates of deposit by 125 bps. Starting today, NBE\u2019s Platinum Certificate and Banque Misr\u2019s Al Qimma Certificate will each offer monthly rates of 17.25%, up from 16%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We think the timing \u2014 and direction of the USD right now \u2014 are big factors here: <\/strong>The Central Bank of Egypt\u2019s monetary policy committee will next meet to review interest rates in almost exactly one month \u2014 but officials have a chance right now to help lock-in the EGP\u2019s recovery from the hit it took after the US and Israel started bombing Iran. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How we see it: <\/strong>The NBE and Banque Misr are moving to soak up liquidity as the EGP continues to strengthen against the greenback. The war in the Gulf had triggered a wave of anxiety: Retail depositors fled to safety in the form of the USD and gold, sending both to record highs on the domestic market. At the same time, carry trade investors headed for the exits in a global risk-off. The combination sent the EGP to a low below 54 to the greenback, but the tide now appears to be turning after strong FX inflows in the past 10 days or so: Portfolio investment is flowing back in, and remittances haven\u2019t yet taken the hit that some had feared.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Offering higher rates on CDs doesn\u2019t just encourage customers to keep their savings in <\/strong><strong>the banking system <\/strong>\u2014 it could prompt more folks to de-dollarize. The EGP was trading in a band of 46-47 to the greenback before the war began, raising the obvious question: With the ceasefire now seemingly extended, was 54 the USD\u2019s high-water mark against the EGP?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER: <\/strong>The NBE and Banque Misr are the state-owned giants of the industry and together account for c. 50% of all deposits in the banking system. <strong>Policymakers have traditionally used the state-owned banks as instruments of monetary policy. <\/strong>Raising rates independent of central bank action provides stability and keeps savers invested in the EGP without requiring policymakers to hike corridor rates and raise the government\u2019s debt burden, banking expert Hany Abou El Fotouh <a target=\"_blank\" href=\"https:\/\/www.almasryalyoum.com\/news\/details\/4251446\" style=\"\">said<\/a>.<\/p>\n<p class=\"tag-border-left\">What happens next? <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The nation\u2019s biggest state-owned banks usually set the stage for their local peers. <\/strong>We\u2019ll be watching to see whether big local lenders make similar moves in the days to come. Keep a particular eye on our friends at CIB alongside FAB Misr, QNB Al Ahli, and ADIB. While some, like Banque du Caire, have been pushing into lower-cost current and savings account deposits in a bid to reduce their cost of funds, many of the big private-sector banks will face pressure to raise rates on CDs if they want to avoid bleeding deposits. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s premature to scream that this signals a rate hike next month:<\/strong> The contours and impact of the US-Iran war have been pretty dynamic, and the CBE\u2019s next policy meeting isn\u2019t until 22 May. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And the CBE may be hesitant to hike rates: <\/strong>Reversing the easing cycle that began just months ago would mean higher debt-service costs for the state, further straining an already strained budget. Fiscal and monetary policy are largely independent, sure, but neither plays out in a vacuum.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Could the push to raise rates on CDs also help keep inflation in check? <\/strong>The USD easing against the EGP means there\u2019s more LCY sloshing around in the system \u2014 liquidity that folks might be tempted to park in long-term CDs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The IMF will be watching closely. <\/strong>It doesn\u2019t love policymakers using side channels to guide policy. Though some will argue that what Banque Misr and National Bank of Egypt have done here makes a good measure of sense, this is the type of thing for which policymakers have been dinged in past Article IV consultations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>The CBE <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/05\/cbe-holds-rates-as-regional-war-derails-easing-cycle\/\" style=\"\">chose to leave rates unchanged<\/a> at its last meeting as the war-triggered energy crisis reversed the disinflationary path we had been on earlier in the year. <\/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\/banking\/\">banking<\/a>\n                <!-- <span 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   <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/22\/b-investments-enters-higher-education-with-egp-560-mn-eue-investment\/\">\r\n                            B Investments joins the rush into higher education                        <\/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\/04\/22\/b-investments-enters-higher-education-with-egp-560-mn-eue-investment\/\" 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                      <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1114.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"695415\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/22\/b-investments-enters-higher-education-with-egp-560-mn-eue-investment\/1114-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1114.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1114.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1114.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1114.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-695414\" class=\"content-area-description single-story post-695414 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-b-investments tag-enterpriseam tag-higher-education-ministry tag-investment-watch tag-investments 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>Private equity firm <\/strong><strong>B Investments is entering Egypt\u2019s higher education sector<\/strong> <strong>by pouring EGP 560 mn into the European Universities in Egypt (EUE) hub<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/971.pdf\" style=\"\">filing to the bourse (pdf)<\/a>. The transaction targets the Scientific Research Education And Development Corporation \u2014 which operates the EUE brand \u2014 through a mix of capital increase and a secondary sale. We are waiting for the transaction to close to know the exact shareholding percentage.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the hub:<\/strong> EUE hub in the New Capital hosts branches of three British universities \u2014 the University of London, University of Central Lancashire, and University of East London.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale: <\/strong>The firm \u2014 which has historically maintained a diversified portfolio across healthcare, F&B, payment, and pharma \u2014 sees an increasing \u201cgrowing demand for quality education [in Egypt],\u201d with EUE serving as a critical component hosting high-quality universities from the UK, B Investments\u2019 Head of Investor Relations Omar Altmann tells EnterpriseAM. He pointed out that higher education is \u201can underserved market with attractive market dynamics.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>B Investments targets a massive demographic deficit.<\/strong> With university enrollments expected to hit 5 mn by 2030, Egypt will need 65 additional universities (or 1.3 mn new seats) to keep up with population growth, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/1034.pdf\" style=\"\">report (pdf)<\/a> by global investment management firm Colliers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Education has proven highly lucrative, with EGX-listed education stocks recently <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/egx-education-stocks-rally-in-2025-as-the-five-listed-companies-deliver-strong-gains\/\" style=\"\">trading<\/a><\/strong><strong> at elevated 20-22x earnings multiples.<\/strong> B Investments joins rivals like <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/four-new-universities-courtesy-of-al-ahly-cira-plus-tmgs-first-north-coast-project\/\" style=\"\">Al Ahly CIRA<\/a> \u2014 which is setting up four new international university models in the country \u2014 in the race for premium education assets.<\/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\/b-investments\/\">B Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/higher-education-ministry\/\">Higher Education Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> 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data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1026.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1026.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-695417\" class=\"content-area-description single-story post-695417 post type-post status-publish format-standard has-post-thumbnail hentry category-education tag-education tag-enterpriseam tag-kudos wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">  <strong>The <\/strong><strong>Onsi<\/strong><strong> Sawiris School of Business at the <\/strong><strong>American University in Cairo <\/strong><strong>was just named the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/eduniversal-ranking.com\/awards.html\" style=\"\">top business school in Africa<\/a><\/strong><strong> for the <\/strong><strong>year<\/strong> by Paris-based global higher education ranking agency <a target=\"_blank\" href=\"https:\/\/eduniversal-ranking.com\/business-school-university-ranking-in-egypt.html\" style=\"\">Eduniversal<\/a>, the university said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/1025.pdf\" style=\"\">statement<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/1025.pdf\" style=\"\">(pdf)<\/a>. The award places the institution among the top 100 business schools worldwide, granting it the Five Palmes of Excellence Emeritus Award.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Eduniversal pointed to the school\u2019s sustained focus on emerging-market <\/strong><strong>challenges<\/strong> and its role in pushing responsible governance, entrepreneurship, and family firm evolution as the reasons for being a <a target=\"_blank\" href=\"https:\/\/eduniversal-ranking.com\/the-american-university-in-cairo-onsi-sawiris-school-of-business-ranking.html\" style=\"\">\u201c<\/a><a target=\"_blank\" href=\"https:\/\/eduniversal-ranking.com\/the-american-university-in-cairo-onsi-sawiris-school-of-business-ranking.html\" style=\"\">continental benchmark in business education<\/a><a target=\"_blank\" href=\"https:\/\/eduniversal-ranking.com\/the-american-university-in-cairo-onsi-sawiris-school-of-business-ranking.html\" style=\"\">.\u201d<\/a> The agency also highlighted how the school uses platforms like the AUC Venture Lab to \u201c[operationalize] these concepts into measurable societal outcomes.\u201d<\/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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kudos\/\">KUDOS<\/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=\"695419\" 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=\"695419\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/22\/world-bank-sees-egypts-budget-deficit-widening-to-7-6-of-gdp-in-fy-2025-26-as-interest-payments-squeeze-fiscal-space\/\">\r\n                            Interest payments to drive 7.6% budget deficit in FY 2025-26 -World Bank                        <\/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\/04\/22\/world-bank-sees-egypts-budget-deficit-widening-to-7-6-of-gdp-in-fy-2025-26-as-interest-payments-squeeze-fiscal-space\/\" 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\/04\/22\/world-bank-sees-egypts-budget-deficit-widening-to-7-6-of-gdp-in-fy-2025-26-as-interest-payments-squeeze-fiscal-space\/')\">\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\/04\/22\/world-bank-sees-egypts-budget-deficit-widening-to-7-6-of-gdp-in-fy-2025-26-as-interest-payments-squeeze-fiscal-space\/\">\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=World Bank sees Egypt\u2019s budget deficit widening to 7.6% of GDP in FY 2025-26 as interest payments squeeze fiscal space&url=https:\/\/enterpriseam.com\/egypt\/2026\/04\/22\/world-bank-sees-egypts-budget-deficit-widening-to-7-6-of-gdp-in-fy-2025-26-as-interest-payments-squeeze-fiscal-space\/\">\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\/04\/22\/world-bank-sees-egypts-budget-deficit-widening-to-7-6-of-gdp-in-fy-2025-26-as-interest-payments-squeeze-fiscal-space\/&title=World Bank sees Egypt\u2019s budget deficit widening to 7.6% of GDP in FY 2025-26 as interest payments squeeze fiscal space\">\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=World+Bank+sees+Egypt%E2%80%99s+budget+deficit+widening+to+7.6%25+of+GDP+in+FY+2025-26+as+interest+payments+squeeze+fiscal+space+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F04%2F22%2Fworld-bank-sees-egypts-budget-deficit-widening-to-7-6-of-gdp-in-fy-2025-26-as-interest-payments-squeeze-fiscal-space%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\/04\/22\/world-bank-sees-egypts-budget-deficit-widening-to-7-6-of-gdp-in-fy-2025-26-as-interest-payments-squeeze-fiscal-space\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1066.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"695420\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/22\/world-bank-sees-egypts-budget-deficit-widening-to-7-6-of-gdp-in-fy-2025-26-as-interest-payments-squeeze-fiscal-space\/1066-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1066.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1066.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1066.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1066.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-695419\" class=\"content-area-description single-story post-695419 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-budget tag-budgeting tag-economy tag-enterpriseam tag-inflation tag-world-bank 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>Egypt\u2019s budget deficit is expected to widen to <\/strong><strong>7.6% of GDP<\/strong><strong> in FY 2025-26 from an estim<\/strong><strong>ated 7.1% in the previous fiscal year<\/strong>, according to the World Bank\u2019s latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/1038.pdf\" style=\"\">Macro Poverty Outlook report (pdf)<\/a>. Meanwhile, the current account deficit is expected to remain stuck at 4.2% of GDP through the end of the fiscal year. The report underscores that the government\u2019s reliance on external financing and its constrained fiscal space will continue to dictate the terms of the business environment well into 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our fiscal space remains severely constrained by interest payments<\/strong>, which consumed about 10.6% of GDP and 87.1% of tax revenues in FY 2024-25, the report indicates. While debt fell to 82.5% of GDP last fiscal year, the Bank warns that contingent liabilities \u2014 standing at about 27% of GDP \u2014 pose a significant risk to the fiscal outlook. The Bank expects debt to rise to 82.9% of GDP this fiscal year, before shrinking to 79.2% next year and 78% in FY 2027-28.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The World Bank projects that inflation will cool to 13.6% by the end of FY 2025-26<\/strong>, a sharp decline from 20.9% in the previous fiscal year. Even as the country grapples with conflict-induced volatility, this reading comes as more optimistic than <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/20\/bmi-slashes-egypts-gdp-growth-forecast-to-4-5-as-pressure-mounts-from-war-in-the-gulf\/\" style=\"\">BMI\u2019s latest inflation forecast<\/a> of 14.6%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong>The Bank sounds optimistic about Egypt, as we\u2019ve also seen it <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/09\/world-bank-maintains-its-growth-forecast-for-egypt\/\" style=\"\">maintain<\/a> its FY 2025-26 growth forecast at 4.3% y-o-y \u2014 significantly outperforming the projected global growth average of 1.8% as the world grapples with war-induced economic headwinds.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/budget\/\">budget<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/budgeting\/\">budgeting<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n 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href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/22\/a15-sells-viral-wave-to-reservoir-partner-poparabia\/\">\r\n                            A15 sells Viral Wave to Reservoir partner PopArabia                        <\/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\/04\/22\/a15-sells-viral-wave-to-reservoir-partner-poparabia\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            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data-attachment-id=\"695423\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/22\/a15-sells-viral-wave-to-reservoir-partner-poparabia\/1062-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1062.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1062.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1062.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1062.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-695422\" class=\"content-area-description single-story post-695422 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-ai tag-also-on-our-radar tag-enterpriseam tag-ma tag-ma-watch tag-startup-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\">\n<p class=\"tag-border-left\">A15 marks its ninth exit with Viral Wave sale<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A15 sold its<\/strong><strong> portfolio company Viral Wave to PopArabia<\/strong>, the regional partner of Nasdaq-listed Reservoir, for an undisclosed sum, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/1040.pdf\" style=\"\">statement (pdf)<\/a> from the Cairo-based venture capital firm. The firm's complete exit from the UAE-headquartered music digital distribution company marks its ninth exit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A sign of wartime regional resilience? <\/strong>Although the acquisition was signed at the tail end of last year before the war began, \u201cwe were still able to close the [agreement] despite the recent events,\u201d A15 Principal Bassem Raafat tells EnterpriseAM. While investors may be waiting for the \u201cdust to settle before they make any big decisions,\u201d the company \u201cremains very, very bullish on the long-term prospects of the Gulf,\u201d according to Rafaat, who noted that A15\u2019s general partner, Karim Beshara, was \u201con a flight to Dubai right now as we speak.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The region has also shown a longer-term resilience to a global slowdown in exits due to <\/strong><strong>its reliance on strategic M&As \u2014 rather than public markets<\/strong>, Rafaat explained. \u201cIn our part of the world, the vast majority of venture exits are not through IPOs [\u2026] the majority are M&A exits,\u201d which has shielded the Middle East from the impacts of a shut IPO window that had a pronounced impact on Western markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The key to a successful exit according to A15? \u201cWe focus very much on first principles, <\/strong><strong>the basics.\u201d <\/strong>What\u2019s important is to build something customers want, differentiate yourself from others in the market, continue to grow while keeping the company economically sound, and have a plan to become profitable in a reasonable timeline, according to Rafaat. \u201cWhen you build something that has strategic value, chances are there will be someone who sees value in acquiring such an asset.\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\">AI-native books platform Sinai.ai raises EGP 75 mn in a pre-seed round<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AI<\/strong><strong>-native books platform Sinai.ai raised USD 1.45 mn (c. EGP<\/strong><strong> 75 mn) in a pre-seed funding round<\/strong> <strong>led by Kaust Innovation Ventures and DisrupTech Ventures<\/strong>, among others, Sinai.ai said in a <a target=\"_blank\" href=\"https:\/\/www.sinai.ai\/blog\/pre-seed-round-announcement\" style=\"\">press release<\/a>. The fresh funding will go toward tech development, AI infrastructure, licensing agreements, and user acquisition.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AI-native books? <\/strong>Since its founding in 2024, Sinai.ai has been developing a reading platform centered around its proprietary aiBook\u2122 format, which turns traditional books into interactive, multimodal experiences, combining text, audio, translations, and interactive exploration. The platform allows users to engage with content in real time to generate summaries, quizzes, and visualizations, all while operating on fully licensed, full-text content sourced directly from publishers.<\/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\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup 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=\"695424\" 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=\"695424\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/22\/un-taps-egypts-former-planning-minister-rania-al-mashat-to-head-escwa\/\">\r\n                            Rania Al Mashat to head the UN\u2019s Escwa                        <\/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\/04\/22\/un-taps-egypts-former-planning-minister-rania-al-mashat-to-head-escwa\/\" 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\/04\/22\/un-taps-egypts-former-planning-minister-rania-al-mashat-to-head-escwa\/')\">\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\/04\/22\/un-taps-egypts-former-planning-minister-rania-al-mashat-to-head-escwa\/\">\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=UN taps Egypt\u2019s former planning minister Rania Al Mashat to head Escwa&url=https:\/\/enterpriseam.com\/egypt\/2026\/04\/22\/un-taps-egypts-former-planning-minister-rania-al-mashat-to-head-escwa\/\">\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\/04\/22\/un-taps-egypts-former-planning-minister-rania-al-mashat-to-head-escwa\/&title=UN taps Egypt\u2019s former planning minister Rania Al Mashat to head Escwa\">\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=UN+taps+Egypt%E2%80%99s+former+planning+minister+Rania+Al+Mashat+to+head+Escwa+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F04%2F22%2Fun-taps-egypts-former-planning-minister-rania-al-mashat-to-head-escwa%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\/04\/22\/un-taps-egypts-former-planning-minister-rania-al-mashat-to-head-escwa\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1064.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"695425\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/22\/un-taps-egypts-former-planning-minister-rania-al-mashat-to-head-escwa\/1064-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1064.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1064.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1064.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1064.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-695424\" class=\"content-area-description single-story post-695424 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-development-finance tag-enterpriseam tag-moves 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>Former International Cooperation and Planning Minister Rania Al Mashat will<\/strong><strong> take over the UN\u2019s economic arm for the Arab world<\/strong>, after Secretary-General Ant\u00f3nio Guterres appointed her as executive secretary of the UN Economic and Social Commission for Western Asia (Escwa), according to a <a target=\"_blank\" href=\"https:\/\/www.un.org\/sg\/en\/content\/sg\/personnel-appointments\/2026-04-20\/ms-rania-al-mashat-of-egypt-executive-secretary-of-the-economic-and-social-commission-for-western-asia\" style=\"\">UN statement<\/a>. We don\u2019t yet know when she will assume office in Beirut, but the current acting executive secretary Mourad Wahba will maintain his post until then.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A return to the global stage: <\/strong>Al Mashat brings 25 years of experience in economic policy and development finance to the UN post. Before her eight-year cabinet run \u2014 which concluded <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/egypt-shuffles-its-cabinet\/\" style=\"\">in February<\/a> \u2014 she served as sub-governor for monetary policy at the Central Bank of Egypt. She started her career as the youngest economist at the IMF at age 25, later returning as an advisor to its chief economist, and has held board seats across major African and European development banks.<\/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\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"695426\" 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=\"695426\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/22\/private-credit-funds-hit-by-tighter-lending\/\">\r\n                            Rising rates squeeze private credit funds                        <\/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\/04\/22\/private-credit-funds-hit-by-tighter-lending\/\" 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\/04\/22\/private-credit-funds-hit-by-tighter-lending\/')\">\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\/04\/22\/private-credit-funds-hit-by-tighter-lending\/\">\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=Private credit funds hit by tighter lending&url=https:\/\/enterpriseam.com\/egypt\/2026\/04\/22\/private-credit-funds-hit-by-tighter-lending\/\">\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\/04\/22\/private-credit-funds-hit-by-tighter-lending\/&title=Private credit funds hit by tighter lending\">\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=Private+credit+funds+hit+by+tighter+lending+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F04%2F22%2Fprivate-credit-funds-hit-by-tighter-lending%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\/04\/22\/private-credit-funds-hit-by-tighter-lending\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1060.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"695427\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/22\/private-credit-funds-hit-by-tighter-lending\/1060-jpg-21\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1060.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1060.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1060.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1060.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-695426\" class=\"content-area-description single-story post-695426 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>Private credit funds are facing mounting funding pressure as borrowing costs rise <\/strong><strong>and banks tighten lending conditions.<\/strong> Lenders are restricting liquidity to the sector, while investors are demanding higher returns to provide capital, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/47606fe2-108e-4a71-ba2b-9e1b779edda8?syn-25a6b1a6=1\" style=\"\">Financial Times<\/a> reports.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>The premium required to lend to private credit funds rose by 0.34 percentage points in 2026 and 0.83 points since the beginning of last year, according to JPMorgan data cited by the salmon-colored paper.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The sector has been seeing a rise in redemption requests from wealthy <\/strong><strong>investors.<\/strong> Investors are <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/08\/western-private-credit-markets-face-a-stress-wave-over-ai-and-transparency-concerns\/\" style=\"\">concerned<\/a> over weak lending standards in private credit after a series of corporate collapses, including Tricolor, First Brands, and Market Financial Solutions. AI <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/07\/global-private-equity-activity-slows-down-due-to-ai-related-risks-geopolitical-tensions\/\" style=\"\">disrupting<\/a> the business models of tech and software sectors is also a major concern.<\/p><p class=\"tag-border-left\">Banks tighten new commitments<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rising funding costs coincided with a decline in bond issuance by business <\/strong><strong>development companies (BDCs)<\/strong>, which act as flagship private credit vehicles. These firms sold around USD 6.8 bn of bonds in 1Q 2026, down 22% y-o-y and 36% from their performance in 2024. \u201cWe are staying away from BDCs,\u201d Loomis, Sayles &amp; Company portfolio manager Brian Kennedy told the Financial Times, arguing that the economics don\u2019t compensate for sector risk. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Banks and traditional lenders that provide large credit facilities are also increasing <\/strong><strong>pricing on new commitments.<\/strong> These facilities are critical to the sector\u2019s financing model, allowing funds to borrow against their loan portfolios and amplify returns.<\/p><p class=\"tag-border-left\">Shorter-dated maturities are gaining appeal<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Issuers are currently using shorter-dated maturities to manage interest costs.<\/strong> Blue Owl private credit fund raised USD 400 mn through a two-year investment-grade bond sold directly to Pimco in a bilateral transaction, rather than through a public syndicated offering. Goldman Sachs Private Credit also secured USD 750 mn at a floating rate of 2.55 percentage points above US Treasuries.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investor due diligence also intensified:<\/strong> \u201cNow it is three weeks of investors underwriting the sectors and the names [\u2026] and if you have a position marked at 92 cents on the USD but someone else has it marked at 86, they want to talk to the [transaction] team,\u201d Beach Point Capital\u2019s portfolio manager Benjamin Hunsaker said.<\/p><p class=\"tag-border-left\">The alternative<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some managers are turning to structured credit markets<\/strong>, where strong demand from insurers and other investors is helping keep borrowing costs lower, Hunsaker said. Blackstone raised USD 450 mn last month through a collateralized loan obligation for its flagship private credit fund, providing a static structure that prevents the manager from trading the underlying assets to boost investor confidence.<\/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\">51,977<\/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: +24.3%)<\/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>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 51.71<\/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 51.85<\/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 51.70<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 51.80<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19.00% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.00% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,345<\/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: +8.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,861<\/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: -1.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,878<\/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: -2.8%)<\/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\">7,064<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +3.0%)<\/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>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\">10,498<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.1% (YTD: +5.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,930<\/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\">-0.9% (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>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 98.09<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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>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 2.70<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 4,736<\/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>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 75,512<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: -13.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P Egypt Sovereign Bond Index<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,044<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +5.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P MENA Bond &amp; Sukuk<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">151.99<\/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\">19.55<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+3.6% (YTD: +34.73%)<\/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 0.3% at yesterday\u2019s close<\/strong> on turnover of EGP 11.1 bn (59.9% above the 90-day average). Regional investors were the sole net sellers. The index is up 24.3% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Palm Hills Developments (+12.4%), Orascom Development (+8.1%), and Abu Qir Fertilizers (+4.2%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Qalaa Holdings (-2.6%), Egypt Aluminum (-2.3%), and AMOC (-2.0%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"695428\">\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\">9<\/div>\r\n    \r\n                        <p class=\"f-graphik\">HARDHAT<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/egypt-shifts-digital-strategy-from-efficiency-to-national-sovereignty\/\"> \r\n                            Digital sovereignty has an important role to play in the digital transformation<\/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\/egypt-shifts-digital-strategy-from-efficiency-to-national-sovereignty\/\" 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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IBM North and East Africa General Manager Marwa Abbas, in comments to EnterpriseAM, similarly described digital sovereignty as \u201cthe ability for organizations and nations to operate technology on their own terms \u2014 maintaining demonstrable control over data, infrastructure, and operations, regardless of where systems are physically located.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters: <\/strong>\u201cEgyptian national security is no longer confined to securing land, sea, and air borders. It has expanded to include virtual borders or what we know as cyberspace,\u201d Supreme Cybersecurity Council consultant Waleed Haggag tells us. While the question of who controls the data may seem like a technicality, it can make private or public institutions \u201ca hostage to foreign suppliers, platforms, or legislation, especially during critical times like wars and crises,\u201d Hegazy tells us.<\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>\u201cSovereignty helps ensure the uninterrupted operation of vital state facilities<\/strong>,\u201d Haggag tells us, explaining how having data stored locally makes it \u201cdifficult for hostile entities to exploit vulnerabilities in international servers to reach us.\u201d \u201cThis plays a pivotal role during geopolitical tensions that may lead to internet service cuts or restrictions by foreign powers,\u201d he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Digital transformation is no longer defined by speed and efficiency alone \u2014 resilience is <\/strong><strong>now a defining metric<\/strong>,\u201d Abbas tells us. \u201cRecent global disruptions, from large-scale outages to geopolitical instability, have demonstrated that digital infrastructure is now part of a nation\u2019s critical fabric. When systems fail, the impact extends beyond IT to economies, public services, and public trust,\u201d she explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Digital sovereignty is also about accountability<\/strong>, as having data based physically and statutorily in Egypt \u201censures that any breach or leak falls under Egyptian [\u2026] jurisdiction\u201d and means we don\u2019t have to rely on \u201cforeign entities that might procrastinate or refuse to cooperate,\u201d Haggag says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong>National Cybersecurity Strategy has already made significant progress onshoring <\/strong><strong>government data<\/strong>, with a host of new data centers \u2014 albeit limited in number and size when compared to our regional peers \u2014 that now host \u201call sensitive government databases within Egypt,\u201d according to Haggag. Continuity of services is also a priority with \u201cisolated sandboxes used to ensure that citizen services remain unaffected by outages or breaches in global commercial clouds.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Vital sectors like water, electricity, and health have additional layers of protection<\/strong>, with the Supreme Cybersecurity Council mandating that the core operational technology networks for critical utilities be \u201ccompletely isolated from the public internet and administrative networks,\u201d Haggag tells us. Encryption and locally generated and managed keys are also mandated to prevent foreign manufacturers from having a backdoor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Before anything\u2019s connected, all imported hardware and software follow \u201cstrict<\/strong><strong> requirements set for inspecting and testing,\u201d<\/strong> Haggag says. This step is taken before introducing anything to critical infrastructure to ensure that the components are \u201cfree of pre-planted malicious code or electronic components that allow remote exploitation.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the problem is that \u201cexcessive legislative rigor can become an obstacle\u201d to attracting <\/strong><strong>global tech companies to Egypt<\/strong>, while on the flipside, \u201claxity can turn citizens' data into economic fuel for global companies without any return for the state,\u201d according to Hegazy. Upcoming legislation on the topic \u201cmust achieve this balance by adopting and applying international standards rather than reinventing the [regulatory] wheel,\u201d he added.<\/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\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/data-centres\/\">Data Centres<\/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\/tech\/\">TECH<\/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=\"695430\" 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\/04\/22\/695430\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-695430\" class=\"content-area-description single-story post-695430 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\">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;\">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;\">5 May (Tuesday): S&P Global to release PMI figures for 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;\">7 May (Thursday): CBE expected to release foreign exchange reserve data for 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;\">10 May (Sunday): Capmas expected to release inflation data from 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;\">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>15 June (Monday): Seventh review of the IMF\u2019s Extended Fund Facility <\/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;\">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 style=\"font-weight:400;\">May 2026: End of extension for developers on 15% interest rates for land installment payments.<br \/><\/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;\">July 2026: British Prime Minister Keir Starmer set to visit 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;\">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:400;\">2026: The Egyptian-American Economic Forum.<\/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>September 2028: First unit of the Dabaa nuclear power plant begins operations.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>B Investments invests in EUE | Private credit funds strained | Shifting digital strategy.<\/p>\n","protected":false},"featured_media":695407,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-695406","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"ade51922-f807-4957-8c1f-9ba6b5a8345f","teaser":"B Investments invests in EUE | Private credit funds strained | Shifting digital strategy.","photo_url":"https:\/\/ent.news\/2026\/4\/1073.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO 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